Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

Record Information

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

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Full Text
THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 7B





GOLD DROPS
AS OPTIMISM
GROWS ABOUT
THE ECONOMY

NEW YORK

Prices for gold and other
metals are falling as investors
raise their expectations for
economic growth.

Gold hit its lowest level
since November, when a year-
end rally took it above $1,400
an ounce. Investors have been
pouring into gold futures
based on fears of weak eco-
nomic growth and global
inflation. Gold is often used
as a hedge against falling cur-
rency prices and slow growth.

Interest in gold waned on
Tuesday. Gold for February
delivery fell $12.20 to settle at
$1,332.30.

One factor pushing gold
down is the expectation that
the Federal Reserve could
move toward raising interest
rates, said George Gero,
senior vice president for RBC
Wealth Management in New
York. The central bank's cen-
tral policy making committee
is meeting this week.

"The market, with the sell-
ing, is betting that we're going
to have continued recovery in
the economy, and higher
interest rates," Gero said.
"Higher interest rates make it
more expensive to hold gold,
and the recovery signals that
you may not need the haven
in gold.”

Other precious metals fol-
lowed gold lower.

In March contracts, silver
lost 51.6 cents to settle at
$26.805 an ounce, copper fell

and palladium fell $31.80 to
$784.75 an ounce. April plat-
inum fell $32.30 to $1,787.30
an ounce.

Crude oil fell on mixed eco-
nomic news and the possibili-
ty that OPEC countries will
step up production.

Comments Monday by the
Saudi Arabian oil minister
stoked speculation of a pro-
duction increase. He seemed
to imply that the Saudis and
other members of the Organi-
zation of the Petroleum
Exporting Countries could
raise production to bring
down the price of oil.

Goldman Sachs analysts
think it's possible that OPEC
has already stepped up pro-
duction.

They say global demand
increased in December, but
oil supplies did not appear to
decline at the same pace.

"It would suggest that
OPEC has started to bring its
spare capacity back to the
market earlier than we antici-
pated," Goldman Sachs ana-
lysts wrote in a note to
investors.

Facing high unemployment

: and lukewarm public approval,
? President Barack Obama can
? take heart from history: At the
i same point in his presidency 28
i years ago, Ronald Reagan was
? saddled with an approval rat-
? ing much lower than Obama's
? is now. And the unemployment
i rate then was a full percentage
? point higher.

For Reagan, the economy

? recovered quickly and strongly,
? carrying him to re-election in
i 1984, one of the biggest land-
i slides in U.S. history. It's possi-
? ble Obama could benefit from
? an equally robust economic
? revival before Election Day
i 2012. But expectations are low-
i er this time, because the gov-
? ernment has already used up
: most of its tools to boost the
i economy.

Recent history suggests a

i president's fortunes can turn
i dramatically, for better or
? worse, On economic swings
? from the halfway mark of his
i first term to the next Election
i Day. Here are some examples:

— PRESIDENT RONALD REAGAN:

Midway through his first

? term, Reagan's approval rating
i was 37 percent. No wonder.
: When Reagan delivered his
12.25 cents to $4.2260.a pound | state of the Union address in
i January 1983, the unemploy-
i ment rate was at 10.4 percent
i — nearly 3 percentage points
: higher than when he took
i office.

Federal Reserve Chairman

? Paul Volcker had pushed inter-
i est rates as high as 20 percent to
: slow the economy and snuff out
i inflation. He succeeded. But
i the result was the deepest
i recession since the Great
i Depression. Political pundits
? wrote Reagan off as a one-term
i president.

Yet once he whipped infla-

? tion, Volcker reversed course
i? and lowered interest rates. Rea-
: gan's tax cuts also jolted the
? economy. By Election Day
? 1984, the unemployment rate
? had fallen to 7.2 percent and
i was still dropping. Proclaiming
? the arrival of "Morning in
? America," Reagan won anoth-
i er four years in the White
i House, defeating Walter Mon-
i dale.

—PRESIDENT GEORGE H.W. BUSH:

A little more than two years

i into his presidency, George

H.W. Bush looked invincible.
His approval rating had hit 89
percent after the U.S. military
drove Saddam Hussein's Iraqi
forces from Kuwait in Febru-
ary 1991.

But a weak economy extin-
guished Bush's hopes for re-
election. The military triumph
in the Persian Gulf temporarily
lifted Bush's popularity after
the United States slid into
recession. Rising unemploy-
ment, though, gradually took a
toll. So did the perception that
Bush had lost touch with voters
who were struggling financially.
His opponent in the 1992 elec-
tion, Bill Clinton, famously
built his campaign around the
phrase, "It's the economy, stu-
pid."

By November, the unem-
ployment rate was 2 percent-
age points higher than when
Bush took office. Bush lost his
re-election bid in a three-way
race with Clinton and indepen-
dent candidate Ross Perot. The
next month, a panel of econo-
mists decreed that the reces-
sion had officially ended in
March 1992, eight months
before Election Day.

—PRESIDENT BILL CLINTON

Bill Clinton was floundering
after two years in the White
House. His health care reform
plan had failed. In the 1994
midterm election, Republicans
had seized back control of both
the House and Senate. Clin-
ton's approval rating was 47
percent.

But over the next two years,
a strengthening economy and
a successful budget standoff
against congressional Republi-
cans reversed Clinton's for-
tunes. From his inauguration
through Election Day 1996, the
unemployment rate fell from
7.3 percent to 5.4 percent. The
Dow Jones industrial average

GOVERNMENT NOTICE

MINISTRY OF PUBLIC WORKS & TRANSPORT

PRE-QUALIFICATION FOR TENDERING
FOR REPAIRS &T THE CENTRAL DETECTIVE UNIT BUILDING

The Government ef the Commonwealth of The Bahamas Intends to pre-qualify Bahamian
contractors for repairs to the Central Detective Unit Bullding at Thompson Boulevard, Nassau

Bahamas.

MEET AND GREET: President Barack Obama greets
invited guests at Albany International Airport in Colonie,

N.Y. on Friday, Jan. 21, 2011.

shot up 88 percent. In Noverm-
ber, Clinton scored an easy vic-
tory over Sen. Bob Dole and
Perot.

— PRESIDENT GEORGE W. BUSH

Attention to terrorism and
war overshadowed George W.
Bush's first term, despite an
eight-month recession in 2001
and a slow recovery that pro-
duced few jobs. After the 9/11
attacks on New York and
Washington, the nation rallied
around Bush as he prepared for
the March 2003 invasion of

(AP Photo/Tim Roske)



Iraq.

Two years into his presiden-
cy, Bush's approval rating was
58 percent, even though unem-
ployment was higher and the
stock market lower than when
he took office. His approval rat-
ing would top 70 percent after
USS. troops occupied Baghdad
in April 2003.

From there, Bush's approval
rating would fall steadily. The
unemployment rate rose from
4.2 percent, when Bush entered
the White House, to 5.4 per-
cent on Election Day 2004. By
then, the economy had lost jobs

MINISTRY OF NATIONAL SECURITY

How presidential fortunes

turn on economic twists

: PAUL WISEMAN,
? AP Economics Writer
: WASHINGTON

since the president had taken
office. Even so, Bush managed
a solid victory over Sen. John
Kerry in November 2004.

— PRESIDENT BARACK OBAMA

President Barack Obama's
popularity could be worse con-
sidering the unemployment rate
remains 9.4 percent more than
a year after the recession end-
ed. An Associated Press-GfK
poll found that 53 percent of
Americans approve of how
Obama is governing, a middle-
of-the-pack ranking for presi-
dents in their second year.

More than half of Americans
disapprove of his handling of
the economy. Only 35 percent
say it's improved on his watch.
That's down from 40 percent a
year earlier.

Yet "he's clearly ahead of
Reagan" at similar points in
their presidencies, says Andrew
Kohut, president of the Pew
Research Center.

Obama also shares one of
Reagan's enduring strengths:
People like him. In the AP-GfK
poll, 83 percent of Americans
call Obama likable, 62 percent
label him a strong leader and
61 percent say he's in touch
with ordinary people.

GN -1171

PARLIAMENTARY REGISTRATION DEPARTMENT

PUBLIC NOTICE

VOTER REGISTRATION

FOR THE WE -

The Parliamentary Commissioner wishes to remind the general public that Voter Registration continues
on a daily basis in Mew Providence and in the Family Islands. Parsons applying for registration must ba
BAHAMIAN CITIZENS, 18 years and older and must have resided in a particular constituency tor three

Monies of mare.

Voter Registration Centres are opened in New Providence between the hours of 10:00am - doitem

at the following locations:

(1) The Pariamentary Registration Department, Farrington Road
(2) The Town Centre and Marathon Malls
(3) The General Post Office, East Hill Street
(4) The Sub-Post Office Carmichael Rinad
(5) The Sub-Post Office Bizabetn Estates
(6) The National Insurance Board - Ballou Hil Road
(7) Gommonwealth Banks Mackey Street

in Grand Bahama, Centres are opened between the hours of 9:30am — 4:30pm at the following

locations:

1. Parliamentary Registration Dapartment, Freeport

2. Administrators Offies, Bight Mile Fock
3. Administrator's Ctfhiee, High Rock (Tuesdays and Thursdays)

In the Family Islands, registretion takes place af the Administrators’ Offices in the variqus Family
islands between fe hours of 30am — 430om

The Parliamentary Commissioner also wishes (o advise thal the Department has commence its
mobile services with effect from 10° January 20111

Businesses and organizalions with af leas! twenty (20) eligible employees or members may contac!
the Department af teleohone numbers 325-2585/9 of 397-2000 io schedule an apponiment

The Ministry of Works & Transport invites Bahamian contractors wishing to pre-qualify for
this work to submit sealed proposals documenting of their legal status, technical and financial
capacity to provide the services required,

Intereited parties may obtain pre-qualification documents as of 17" January 2011 fromm the
office of the Director of Public Works, Ministry of Works & Transport, between Sam to Spm
on the 3” Floor Wast Wing. Ministry of Public Works & Transport Building, J F Kk Drlve,
Nassau, Baharnas.

Completed pre-quallfication applications must be placed in the self addressed enveloge
provided and deposited in the Tenders Box in the office of the Director of Public Works no
later than 12:00 noon on or before 28" January 20d

The Director of Public Works
Ministry of Works & Transport
P.O). Boo N-B1S6

iohn F. Kennedy Drive

New Providence

Bahamas

Aaplicants will be notified of the results after the evaluation process has been completed

Signed

Colin Higgs
Permanent Secretary



Ministry of National
PARLIAMENTARY REGISTRATION DEPARTMENT

PUBLIC NOTICE

The Parliamentary Registration Department will be conducting Evening
Registration on Tuesdays, Wednesdays and Thursdays, during the period
January 25th — 27", from 5:00 pm — #00 pm at the following locations:

(1) Parliamentary Registration Depariment

(2) Mall at Marathon

(2) Town Centre Mall

(3) Elizabeth Estates Post Office — Prince Charles Drive
(4) Carmichael Road Post Office — Carmichael Road

The public is reminded that only Bahamian Citizens are eligible to register to
vote and applicants are required to produce proof of citizenship.

Signed

Erral ©. Bethel
PARLIAMENTARY COMMISSIONER



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



PAGE 8B, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





Consumer Confidence
Index hits 8-month high

Holiday shopping boom carries over to new year

MARTIN CRUTSINGER,
AP Economics Writer
WASHINGTON

Consumer confidence hit an
eight-month high in January.
The increase suggests the ris-
ing spirits that fueled a holiday
shopping boom are carrying
over into the new year as peo-
ple feel better about the job
market.

The Conference Board said
Tuesday its Consumer Confi-
dence Index climbed to 60.6
this month from 53.3 in Decem-
ber.

While confidence is still far
from the 90 that signals a
healthy consumer mindset, the
January improvement was bet-
ter than expected. Some econ-
omists said the big tax relief
package Congress passed in late
December may have helped.

"So much for a ho-hum Jan-
uary,” said Jennifer Lee, senior
economist at BMO Capital
Markets. "The signing of the
stimulus bill and all that it is
intended to bring is buoying
sentiment."

The $858 billion package
extended the Bush-era tax
relief at all income levels for
two years, provided tax breaks
for businesses and reduced
Social Security payroll taxes by
2 percentage points this year.

The Social Security reduc-
tion means an estimated $1,000
in additional after-tax income
for the average family, accord-
ing to White House estimates.

Other analysts suggested that
the recent gains in the stock
market and improving labor
market conditions were trump-
ing higher gasoline prices and
falling home prices.

The Standard & Poor's/Case-







INTERNATIONAL
BUSINESS

Shiller 20-city index showed
home prices falling in most of
America's largest cities and hit-
ting their lowest point since the
housing bust in nine markets.

The January rise in confi-
dence is a good sign for con-
sumer spending, said David
Wyss, chief economist at Stan-
dard & Poor's in New York.

"A confident consumer buys
a new car," he said. "A cau-
tious consumer repairs the old
one."

The January confidence fig-
ure was the highest last May's
62.7. At that time, consumer
attitudes were improving as
economic growth seemed to be
taking off. However, the econ-
omy stalled in the summer, and
so did confidence.

Confidence has been
depressed by unemployment
that surged during the coun-
try's worst recession since the
1930s and has stayed stubborn-
ly high even though the down-
turn ended in June 2009. Con-
fidence has not been above 90
since the recession began in

NOTICE

NOTICE is hereby given that YVES LAFONTANT a.k.a. YVES
FRANCOIS of BURIAL GROUND CORNER, P.O. BOX
N-805, 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 26" day of January, 2011 to the Minister responsible
for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that MYRLAND VICTOR of
CARMICHAEL ROAD, 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
26" day of January, 2011 to the Minister responsible for
nationality and Citizenship, PO. Box N-7147, Nassau, Bahamas.

Moray al Werk



GROWING CONFIDENCE: In this photo taken Dec. 6, 2010, visitors at shopping mall in Springfield, Ill. The
Consumer Confidence Index rose in January to its highest point in eight months but remains well below

the levels indicating a healthy economy

December 2007. In the Confer-
ence Board survey, the per-
centage of people surveyed who
felt jobs were hard to get fell
slightly to 43.4 percent from 46
percent in December.

The share who expected to
see more jobs six months from
now rose to 16 percent from
14.2 percent.

That finding supported a sep-
arate report Monday from the
National Association for Busi-
ness Economics that showed
the number of firms expressing

positive views on hiring had
climbed to the highest level in
12 years.

While confidence has stayed
weak since the recession ended
in summer 2009, consumer
spending has been picking up.
During the 2010 holiday shop-
ping season, sales increased at
the fastest rate in six years.

Economists are hoping that
consumer confidence will keep
rising in 2011 as the economy
improves and unemployment
declines.

MUA

NOTICE is hereby given that ELMINA ETIENNE of
Marshall Road 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 19 day of January,
2011 to the Minister responsible for nationality and
Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that MUNA EL-FITURI of
561 Broadway #9A New York 10012, United States
of America 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 19" day of
January, 2011 to the Minister responsible for nationality
and Citizenship, PO. Box N-7147, Nassau, Bahamas.

= FG CAP
ROYAL FIDELITY e :

BISX LISTED & TRADED SECURITIES AS OF:
TUESDAY, 25 JANUARY 2011

TTAL MARKETS
BROKERAGE & ADVISORY SERVICES

BISX ALL SHARE INDEX: CLOSE 1,480.19 | CHG -0.05 | %CHG 0.00 | YTD -19.32 | YTD % -1.29
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%

WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

S2wk-Low
0.97
9.67
4.50
0.18
2.70
2.14
9,62
2.36
5.40
1.63
1.60
5.94
7.23
8.77
B75
1.00
5,00
9,82
10.00

Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings

Doctor's Hospital
Famguard
Finco

Focol (S)

ICD Utilities
J. S. Johnson

S2wk-Hi S2wk-Low

Securit_y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas

Commonwealth Bank (S1)
Consolidated Water BDRs

FirstCaribbean Bank
Focol Class B Preference
Premier Real Estate

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

1.02
10.63
4.90
0.18
2.70
ee
10.21
2.40
6.85
2.04
1.60
6.07
6.51
93.39
5.48
1.00
7.40
9,82
10.00

Symbol

Previous Close Today's Close

Last Sale

Change Daily Vol.
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

-0.04
0.00

1.02
10.63
4.90.
0.18
2.70
2.17
10.21
2.40
6.85
2.00
1.60
6.07
6.51
3.39
5.48
1.00
7.40
8.82
10.00

0,00.
0.00.
0.00.
0.00.
0,00.
0,00.
0,00.
0.00,

Change Daily Vol.

EPS $

Div $ P/E
0.150
0,013
0.153
-O.877
0.168
0.016
1.050
0.781
0.422
0.1141
0.107
0.357
0.287
0.494
0.366
0,000
0.012

17.0
22.7
19.0
15.0

N/M

616.7

11.4
10.14

0.859.
0.991

Interest Maturity





99.46
100.00
100.00
100.00
100.00

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

BAH29.
FBB17
FBB22
FBB13.
FBB1IS

20 November 2029.
19 October 2017
19 October 2022

30 May 2013
29 May 2015

99.46
100.00
100.00
100.00
100.00

0.00 6.95%

0.00 7%

0.00 Prime + 1.75%
0.00 7%

0.00 Prime + 1.75%

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

S2wk Lee Symbol
Bahamas Supermarkets

RND Holdings

Bid &
5.01
0.35

Ask

Last Prince
14.00

EPS $
-2.945
0.001

Div &
0,000.
0.000

Daily Wel.
6.01

0.40 0.55.

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

ABDAB 30.13
RND Holdings: 0.45

4.540
0.002

0.000
0.000

31.59 29.00

0.55 0.55.

BISX Listed Mutual Funds

NAY
1.5179
2.9474
1.5740
2.7202

13.2825
114.3684
106.5528

1.1415
1.1101
1.1428

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

1.4076
2.8300
1.4954
2.8522
13.0484
101.6693
99.4177
1.0000,
1.0000
1.0000
9.1005

Royal Fidelity Prime Income Fund
CFAL Global Bond Fund

CFAL Global Equity Fund

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

9.7950
10.0000
10.6417
9.1708
9.6635

4.8105 8.3979

YTD%
5.51%
2.10%
4.44%
12.72%
-0.63%
9.98%
4.75%
4.74%
3.94%
4.78%

4.85%

-1.20%

-3.37%
8.82%

NAV 6GMTH
1.475244
2.919946
1.538692

NAV 3MTH
1.498004
2.918697
1.555464

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

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

107.570619
105.776543

109.392860
100.779540
5.21%
7.60%
5.90%
5.45% 30-Nov-10.
0.50% 30-Nov-10.

30-Nov-10.
31-Dec-10

3.37%
8.82%

MARKET TERMS

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 trom 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

S1) - 3-for-1 Stock Split - Effective Date 7/11/2007

YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

ASk $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company's reported eamings per share for the last 12 mths
NAV - Net Asset Value

N/M - Not Meaningful

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

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

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



Confidence jumps
The consumer corkdence ances
from a survey of 8.000 LS.
househedos

HOPES FOR
SPENDING CURBS
SEND TREASURY

PRICES HIGHER

NEW YORK

1965 = 105

ge

Treasury prices rose
Tuesday on hopes that
President Barack Obama
might talk about a partial
freeze on government
spending in his State of
the Union speech.

"The market is prepar-
ing for a fiscally responsi-
ble speech from the Pres-
ident tonight,” said John
Spinello, bond strategist
at Jefferies & Co.

The price of the 10-
year Treasury note rose
56 cents per $100 invest-
ed Tuesday. Its yield,
which moves in the oppo-
site direction, fell to 3.34
percent from 3.39 percent
late Monday.

Recently, some Euro-
pean nations like Portu-
gal and Ireland have had
their credit ratings down-
graded by agencies who
cited increased govern-
ment spending. The
downgrades sent borrow-
ing costs higher for those
countries, a cause of wor-
ry for bond traders.

On Tuesday, the gov-
ernment also sold $35 bil-
lion two-year notes,
which were 3.5 times
oversubscribed. That was
slightly lower than the
average rate of 3.7 in the
last four auctions. How-
ever the Treasury was
able to sell the notes at
0.65 percent, a better rate
than the 0.74 percent the
government paid at last
month's two-year note
sale. The 30-year bond is
up $1.03 to yield 4.50 per-
cent, down from 4.56 late
Monday.

The yield on the two-
year Treasury note fell to
0.58 percent from 0.62
percent.

inte 40 bgures ae wea ecredly oped

SOURCE: The Confteance Bord aP



(AP Photo/Seth

en

Perlman)

Employers added 1.1 million
jobs for all of 2010, but the
nation still has 7.2 million few-
er jobs than it did in Decem-
ber 2007, when the recession
began.

Many economists expect the
nation will create twice as many
jobs this year as it did last year
as economic growth picks up.

The Conference Board con-
fidence index was based on
answers to questions from a
survey of 5,000 U.S. households
taken through Jan. 18.

US airlines make money
again by flying less



(AP Photo/Stephan Savoia)
CUTTING COSTS: In this Thursday, Jan. 20, 2011 photo a Jet Blue jet
taxis near an American Airlines jet parked at its gate at Boston’s
Logan International Airport.

DAVID KOENIG,
AP Airlines Writer
DALLAS

After a decade of multibillion-dollar losses, U.S. airlines appear
likely to profit for years for a simple reason: They are flying less.

By grounding planes and eliminating flights, airlines have cut
costs and pushed fares higher. As the global economy rebounds,
travel demand is rising and planes are as full as they've been in
decades.

Profit margins at big airlines are the highest in at least a decade,
according to the government. The eight largest U'S. airlines are
forecast to earn more than $5 billion this year and $5.6 billion in
2012.

US. airlines are in the midst of reporting fourth-quarter results
that should cap the industry's first moneymaking year since 2007.

"The industry is in the best position — certainly in a decade —
to post profitability," says Southwest Airlines CEO Gary Kelly.
"The industry is much better prepared today than it was a decade
ago."

The airlines' turnaround has benefited investors — the Arca air-
lines stock index has nearly quadrupled since March 2009 — but it's
been tough on travelers.

Fares in the U.S. have risen 14 percent from a year ago, accord-
ing to travel consultant Bob Harrell. Flights are more crowded than
they've been in decades. On domestic flights, fewer than one in five
seats are empty. Space is even tighter over the summer and holi-
days. That's why it took a week to rebook all the travelers who
were stranded by a snowstorm that hit the Northeast over Christ-
mas weekend.

Travelers also face fees these days for services that used to be
part of the ticket price, such as checking luggage (usually $25 to $35
per bag) and rebooking on a different flight (usually $150 for a
domestic flight, more when flying overseas).

"I'm not averse to anyone making money — that's great — but
(to) take things away and then charge for them, that's not right,"
said Rick Jellow, an executive who travels in his job for a lighting-
systems company in Virginia.

From 2000 through 2009, U.S. airlines lost about $60 billion
and eliminated 160,000 jobs, according to an industry trade group,
the Air Transport Association.

During that tumultuous decade, airlines were hit with a series of
events beyond their control: two recessions; the Sept. 11 attacks; an
avian flu outbreak that scared away many travelers, and rising
fuel costs.

The industry was profitable in 2000, 2006 and 2007, when the
economy was roaring. But those boom years masked the industry's
underlying problems, including high costs and too many empty
seats. During 2008 and 2009, airlines lost a combined $23 billion, but
they were also attacking their problems, setting the stage for a
comeback in 2010.



THE TRIBUME

WEDNESDAY, JAMLUAR TY om. ocr t

PAGE $B



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CLOUDY,
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Volume: 107 No.53









aU a)

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The Tribune

LATEST NEWS ON WWW.TRIBUNE242.COM



WEDNESDAY, JANUARY 26, 2011

eS
a a
AND REAL as

BAHAMAS BIGGEST



>

Pike

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

Harrowing oi
of haby Michela

Family seeks fundraiser for
mounting medical expenses

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

A GRAND BAHAMA
family is desperately seek-
ing support for vital rehabil-
itative treatment for their
baby who, before the age of
two, has survived crippling
medical challenges.

In the last eight months,
21-month-old Michelo ‘Mj’
McKenzie Jr has battled
pneumocccal meningitis,
shunted hydrocephalus, cor-
tical blindness, partial paral-
ysis and hearing loss — all of
which doctors attribute to a
previously undetected blood
disorder.

Buckling under the weight
of mounting medical
expenses, Michelo McKen-
zie Sr, 34, told The Tribune
of his son’s harrowing ordeal
which has retarded his
development to that of a
three-month-old infant.

Mr McKenzie Sr said: “It
was a Situation where no
one knew he was sick, no
one knew he had sickle cell

anemia, everything just
came after he had his vacci-
nation shot. Everything just
went haywire from there.”

Born a thriving and
healthy baby boy, Mj first
began exhibiting signs of ill-
ness last May after he
received his first year vacci-
nations. Due to an unre-
lenting fever — which lasted
five days — he was admitted
to the Rand Memorial Hos-
pital where they ran a series
of tests, including a spinal
tap. Results uncovered that
little Mj had contracted a
bacterial form of meningi-
tis, a disease for which treat-
ment time was typically 14
days.

Mr McKenzie said: “We
were dumbfounded. He was
hospitalized for 25 days and
during that time he had four
seizures and three blood
transfusions. He lost his
sight, his hearing, and was
paralysed on the left side of
his body. Meningitis is an
infection to the brain so

SEE page nine

AUTO INSURANCE

|
Never start your





ASSISTING

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

BAHA Mar has received up to
800 job applications on behalf of
} general contractors working on the
new Commercial Village and the re-
routing of West Bay Street.

Although Baha Mar Resorts Ltd is
not the general contractor on the

$2.6 billion project, Robert Sands,
CONTRACTORS: vice-president of external affairs,
Robert Sands said the company is assisting con-



UP T0 800 JOB APPLICATIONS RECEIVED BY BAHA MAR

tractors by “providing a bank of
potential candidates for screening
for hire.”

Mr Sands confirmed receipt of 300
applications from Grand Bahama
tradesmen, and a list of about 1,500
names from the Ministry of Labour’s
skills bank.

Dion Foulkes, Minister of Labour,
told The Tribune yesterday, the gov-
ernment is “very excited about the
developments at Baha Mar” and

SEE page nine

Visit our new store

at Harbour Bay...

SEE SECTION E



POLICE SUSPECT
ATTORNEY KILLED IN
‘ATTEMPTED ROBBERY
GONE WRONG’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE suspect attorney
Dennis Gomez was mur-
dered during an attempted
robbery gone wrong.

Assistant Commissioner
of Police Glenn Miller told
The Tribune that Mr Gomez
was shot after one of two
assailants, who approached
him outside his law office
early Saturday morning,
silently ordered him into his
car at gunpoint.

Mr Gomez, 57, resisted
and struggled with the gun-
man, who then shot him sev-
eral times.

"It seemed to be an
attempted robbery, there is
nothing to suggest anything
other than that at this point.
They ordered him in the car,
but he refused and he strug-
gled with the men and then
shots were fired," Mr Miller
said yesterday.

The two assailants fled the
area on foot, said Mr Miller.

Mr Gomez, brother of
Comptroller of Customs
Glenn Gomez, and husband

SEE page nine

ANDRE BIRBAL SEX
TRIAL COULD SEE
VERDICT TODAY

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT: A verdict in
the Andre Birbal sex trial
could be expected today after
Justice Hartman Longley
gives his summation to the
jury.

After hearing final argu-
ments from the Crown and
the defence yesterday, Justice
Longley decided he would
address the jury this morning.

The former art teacher is
charged with eight counts of
unnatural sexual intercourse
with two minors.

It is alleged that Birbal had
sex with a male student at the
Eight Mile Rock High School
between January 2002 and
June 2007. It is also alleged
he had sex with a second male
student between September
2002 and December 2005.

The young men testified
that their art teacher had sex
with them in his classroom
during school hours, at his
apartment, and other places.
They also testified that Bir-
bal took nude photographs of
them.

Birbal, a Trinidadian,
taught art design and com-
puter aid design at the Eight

SEE page nine

Madera Shopping Plaza - 326-0703 * Marathon Mall - 373-6113 * Harbour Boy - 393-2224 « AND Plaza, Freeport 351-3274



NASSAU AND BAHAMA



ISEANDS* LEADING NEWSPAPER





PAGE 2, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





PAUL BOWER
DIES AFTER
LONG ILLNESS

ROBERT Paul Bow-
er died after a long ill-
ness, peacefully at his
home on Cable Beach in
the early hours of Mon-
day, January 24.

Mr Bower was born in
Kent, England, on
November 2, 1924, the
only son of Commander
Robert Tatton Bower,
RN, MP, and the Hon
Henrietta Bower.

Paul is survived by his
wife Ericka; sons Bobby
Bower and Nigel Bow-
er; daughter Victoria
Blackman-Aumonier;
son-in-law Alcy
Aumonier, daughters-
in-law Kay Bower and
Lora Bower, grandsons
Dominic Bower, Axiom
Blackman and Nicholas
Bower; granddaughters
Daniella Bower, Aimee
Blackman and Morgan
Bower; sisters Anne
Doyne-Ditmus, Mar-
garet Kelly, Marianna
Viscountess Monckton
of Brenchley, Elizabeth
Wainwright, Veronica
Slocock, Mary Cox,
Monica de Salis; broth-
ers-in-law Ian Cox,
Bernard de Salis and
Michael Wainwright;
many nephews and
nieces and faithful
friends here and abroad.

A funeral service is to
be announced.

INSIGHT

For the stories behind
the news, read Insight
on Mondays



ant

The Bahamas
ew Maritime Authority

Se

LOCAL NEWS

OPERATI



PHILIP HILTON, ATTORNEY

¢ The Rapid Strike

was long overdue.

The crime rate is out of

hand and the only way

that we can clear crime 1s

for the police force to
take charge."



TALLS, CONTRACTOR

GG

The police only

judging books by
cover. They must look on
the inside of a man. They
are only interested in
racial profiling."









ON

STREET

It's about time they started to

take control on the country, we
shouldn't have to wait until the country
deteriorates in order to see improve-
ment. They do a good job but they
could do better."

G6

The

police
force must
keep it up and
be consistent."

STEPHEN PLAKARIS,
FISHERMAN

MARGARET SMALL, POLICE DEPARTMENT

OO RO eMC L al

STRIKE

What do you think about it?

LAST week Wednesday, the Royal
Bahamas Police Force initiated Opera-
tion Rapid Strike in several high crime
areas. Their efforts netted 14 suspects on
the first night. The Tribune's student
interns from Bahamas Academy hit the
streets of Nassau yesterday to find out
how Bahamians felt about the RBPF's
latest crime-fighting strategy.



The commissioner is doing
an excellent job; we will see

progress. Why should we be
unsafe? I look forward to not hav-
ing to lock my car and carry my
empty purse."



66 They

need to
capture more
criminals."

CAROLYN PEDICAN,
BARTENDER, ABACO

BAHAMAS INTERNATIONAL MARITIME CONFERENCE AND
TRADE SHOW

In association with the Bahamas Ministry of the Environment Proudly present the 3rd annual

BIMCATS 20)

BIMCATS 1011 ACEYBA

Wedersiday, U2 Febreary 2000

Ve

Thurs, 0 Perbreey Pon

Revepthen Aabamian ight an the rear Laws

Opening cormeny

Hahamas local efforts

fa cdideeds the manning shoriage

mai 0 w tar Elise ALEMUIFE. ret
Oiher Initiatives la Shore: becei Trad nd neg

Kaeraond Jor

Vhe MLC? Diet: le dhe common cimedads sulicioms io address the coew"s wellbore?
Prats

UNO TIME SPEAKER: Mr. bre Care, Pxecutie |arector, Heteeres oteeral | rmi

Implemraieg and camniplylng wiek the MIC requiremeact: Chalhenges ta the lndietry

MLC 204: The cecttfermtion process

hd “Fan ar ihe Fick Fro*

Friday, 04 Fobrwary 2011

Chairman's open marks: é

The regulainry frameeark: STOW aod the Manila amendmenia
Lapa Ba 1 i beget * “A T M,

An indeeiry bed cevelogment t training and compeieace standards
ri | t l be mation Warine Cnnracton Aeociaion [PALA

LUSCH

Martiime Edacaites aed Training: Pregeraion far ihe sew STW eequiremenis
tel & avers 4 York Meriter i

Marae cousaliy and the heman clemenis

Training and developer: Reglanal efforts
LAL rail huuiveag _—_ a ty cy

BMA Heport aed Wrap lip
tie. Lon Fone, Charnes. chars Martie Authority
ir. Peter Jobe Cioulander, Liepoty Cherian, Gaturren Manionec ‘aieniy

Commer Davy Hote, Managing Dinegion aed CED, Hahansas Marking Avttoriy
Cechkisal Party

EVENING HASUET
KEYHMOTE SPEAKER: &











CARSON HEPBURN,
SECURITY

Something like the

Rapid Strike was
long overdue and needed
to be done from the
beginning. We need to
enforce groups such as
the strike force. On this
note, I give the police
force credit for the Rapid
Strike."



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





THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 3



Family Islands ‘safe and secure’ |

despite eight murders in 2010 —

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

EIGHT murders rocked the
Family Islands last year, with
the greatest concentration in
Abaco and Bimini, according
to statistics released Monday
as part of the police’s “2010
year in review.”

Despite the existence of vio-
lent crime, the Family Islands
are “very safe and secure”, said
Willard Cunningham, assistant
commissioner of police for the
Family Islands.

“T wish to say that the Fami-
ly Islands are very safe and
secure and this is due in large
part to the excellent police and
community relationships
throughout the Commonwealth
of the Bahamas,” said Mr Cun-

ningham.

“The community continues
to assist the Royal Bahamas
Police Force with regards to all
offences by giving tips and
information, which has led to
solving a significant number of
these crimes,” he said.

Only one of the eight mur-
ders recorded in the Family
Islands remains unsolved,
according to the police.

There were two murders in
Abaco and two in Bimini; there
was one murder in Andros,
Exuma, Long Island and
Inagua. In each instance, the
Family Island commands
received assistance from Cen-
tral Detective Unit (CDU) offi-
cers, who travelled from New
Providence.

Extra manpower from New
Providence was also called in

last year for major regattas,
homecomings and festivals. As
a result, Mr Cunningham said,
there were no “serious inci-
dents” at any of these events.
He highlighted the support
from residents and “their good
citizenship during these
events.”

Despite some crime prob-
lems, like the spate of burglar-
ies late last year in Harbour
Island, there was a reduction
in house and shop break-ins,
burglaries and armed robberies
in the Family Islands last year,
said Mr Cunningham.

In the case of Harbour
Island, a crime-fighting initia-
tive between local police and
CDU helped to clamp down on
the problem. Local police
arrested five people in connec-
tion with the holiday break-ins,

EGE) ul Uy ul alt MURDER

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

A 24-YEAR-OLD man was
arraigned in Magistrate’s Court
yesterday, charged in the mur-
der of an Eleuthera man whose
body was found inside a bar-
rel.

John Deieur, alias File YFo-
dra, of Hatchet Bay, Eleuthera,
stands accused of killing Alice
Saintilam, 65.

It is alleged that Deieur
intentionally caused Saintilma’s
death between January 15 and
19.

The body of Saintilam, of
Cambridge Street, Hatchet
Bay, was found in a barrel on a
track road.

Deieur was not represented
by an attorney yesterday during
his arraignment before Magis-
trate Ancella Williams in Court
6, Parliament Street.

When asked whether he
understood the charge against



CHARGED: 24-year-old John Deieur appeared in court yesterday.
Tim Clarke/Tribune staff

him Deieur told the magistrate,
“T didn’t kill him.”

He was told that he was not
required to enter a plea to the
murder charge but stated, “I
am not guilty.”

Deieur was ordered to be
remanded to Her Majesty’s
Prison. The case was adjourned
to Court 10, Nassau Street.

Deieur is expected back in
court on January 31.

‘Actual work imminent’
on the Baha Mar project

By CELESTE NIXON
Tribune Staff Reporter
cnixon@tribunemedia.net

“ACTUAL work is imminent” on the Baha
Mar project, according to the VP of external
affairs for the highly anticipated development.

Robert "Sandy" Sands said construction of the
single-phase $2.6 billion project should begin the
second or third week of February.

“We have just about completed all legal work
for ground breaking,” said Mr Sands.

He said they are currently in the process of
co-ordinating schedules for special guests to make
sure they can all arrive at the same time.

Mr Sands added: “It is very likely that work will
start prior to the ground breaking date. Actual

work will be imminent.”

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

A DOCUMENTARY about
the human impact of a devas-
tatingly high murder toll made
by Abaco filmmakers Logger-
head Productions has been
released on their new video
website Conch Salad TV this
week.

The seven minute piece
“Marching for Justice” by
Matthew and Lindsey McCoy,
of Hope Town, Elbow Cay,
breaks down the brutalising
record of 96 murders last year,
that is 30 per 100,000 residents,
and focuses on the relatives of
those who were killed and
marched through the streets of
Nassau crying out for justice.

Workers Party leader and
activist Rodney Moncur has
been organising marches to call
for murderers to be hanged and
the murder accused denied bail
since his cousin Khodee Davis
was fatally stabbed in May 2008
near Cabbage Beach on Par-
adise Island.

Mr and Mrs McCoy fol-
lowed two of these marches, at
which hundreds of Bahamians
lent their support, but also
spoke to relatives of the mur-
dered in depth.

The film features emotional
interviews with family mem-
bers, including a brother of
Leonard Johnson, 21, who was
stabbed at the Evangelistic
Church Temple construction
site in Collins Avenue, and
Ragged Island church minister

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

Hopes are high that the mega-project will pro-
vide tremendous economic benefits for the
Bahamas, creating thousands of permanent jobs
and numerous opportunities for contractors and

construction workers.

It is thought that the project will create 4,000
jobs during the construction phase. Some $400
million in work packages has been designated
for Bahamian contractors.

In a previous interview with The Tribune, Mr

Sands said the development will contribute $14.8
billion to the Bahamas’ Gross Domestic Prod-
uct over 20 years, and generate $500 billion in
incremental government taxes over 25 years.
Tribune sources say clearing work near the site
of the old Nassau Beach Hotel on the Cable
Beach strip has already begun. It is thought this

may be the site of the ground breaking ceremony.

Documentary focuses on the
human apart of murder toll



BEREAVED FAMILIES marching for justice.

Marjorie Wallace, whose grand-
daughter She’Anda Newton,
17, was slain and dumped in an
overgrown area off the Charles
Saunders Highway.

“Everyone understands that
the murder rate is high,” Mr
McCoy said.

“But the human element of
the story seems to be lost in the
bigger picture of anarchy.

“We just want to put the
real human element out there,
and maybe start a conversation
about what’s going on and what
the solutions are.”

As well as posting the video,
the couple created a website
where grieving families can post
words and pictures in tribute
to the murdered.

“People said they didn’t
want their brother or their son
to be forgotten,” Mrs McCoy
said.

“So we created the website
separately because we wanted

some place to preserve their
memory and their story.”

Mr and Mrs McCoy hope
bereaved families and friends
will embrace the website
Bahamas Remembers, as they
continue their work to build a
diverse range of videos for
Conch Salad TV.

Since launching the video
website with a lively conch-
cracking contest on December
1, Loggerhead Productions
have posted their Bahamas
International Film Festival fea-
tured documentary “The Lion-
fish Invasion,” funded by
Friends of the Environment,
and now Marching for Justice.

Future film plans include an
archaelogical exploration in
Abaco, and a political satire.

To see Marching for Justice
and other films log on to
www.conchsaladtv.com, and
pay tribute to the murdered at
www.bahamasremembers.com.

including a juvenile, who was
charged with eight counts of
burglary and stealing.

“In an effort to increase
awareness among residents,
police officers participated in
numerous walk-abouts, com-
munity meetings, church visi-
tations and school visits. These
were all in an effort to reduce
the fear of crime and at the
same time provide safety tips
for the community at large,”
said Mr Cunningham.

This year, Family Island res-
idents can expect “aggressive
stop-and-search initiatives” to
continue, as the police seek to

crack down on road traffic
infractions.

“The objectives of the Royal
Bahamas Police Force is to
reduce the fear of crime within
the communities, ensure that
crime is minimised and
strengthen relationships with
other government agencies and
community partners. We the
members of the Royal
Bahamas Police Force in the
Family Islands will redouble
our efforts in 2011 in the fight
against crime; as together we
strive to make the Bahamas a
safer place to live, work, visit
and play,” he said.

Man gets extension to appeal
20-year sentence, conviction

A MAN sentenced to 20
years imprisonment on an
attempted armed robbery
charge was granted an exten-
sion of time yesterday to appeal
his sentence and conviction.

Bradley Saunders, 24, was
convicted and sentenced last
November for the attempted
armed robbery of Joan Algios.

Saunders was in the Court of
Appeal yesterday, where his
request for an extension was
granted.

His appeal is expected to be
heard on March 14. He is rep-
resented by attorney Donna
Major.

Saunders stood trial with 20-
year-old Ebenezer Sherman,
who was convicted and sen-
tenced to 25 years in prison for
the attempted murder of

FOR 3 IN 1 LAWN SERVICE
eager
eM
ee Tee:
hitae aby

Algios’ friend, New Jersey
police officer John Casper on
May 14, 2008.

Sergeant Casper was shot in
the chest while walking with
friends on the Cable Beach
strip in the area of Ruby
Avenue, not far from the resi-
dence of former prime minis-
ter Perry Christie.

Mr Casper was vacationing
in Nassau at the time, and was
attempting to prevent an
assailant from snatching Mrs
Algios' handbag when he was
shot.







"Want To service
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Bay St. Garage
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POLICE HUNT
_ FOR ARMED
_CARJACKER

POLICE are hunting for
an armed carjacker who
escaped capture in the area
of East Street South on
Monday night.

Press liaison officer
Sergeant Chrislyn Skip-
pings said police were
called to the scene of an
armed robbery at Gibbs
Corner around 9.15 pm.

Officers were told that
during the robbery a vic-
tim's car was stolen.

Police issued an all-
points bulletin and officers
on mobile patrol were able
to intercept the stolen vehi-
cle in the area of East
Street South.

Sgt Skippings said police
recovered one 9mm pistol
and 18 live rounds of
ammunition.

However, the suspect
jumped out of the stolen
vehicle and escaped.

"An intense search is
underway to locate the sus-
pect in this matter," said
Sgt Skippings.

Meanwhile, police
arrested a Carmichael
Road man after officers
found a 40 Glock pistol
and 12 live rounds of
ammunition in his home.

Police executed a search
warrant at the home
around 7.30pm on Monday.

The man is expected to
be charged in the Magis-
trate’s Court sometime this
week.

SCastrol
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PAGE 4, WEDNESDAY, JANUARY 26, 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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352
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WEBSITE
www.tribune242.com — updated daily at 2pm

150 years of dieting fads and still no quick fix

WASHINGTON — Before modern weight
loss fads, there was William Banting. He
invented the low-carb diet of 1863. Even then
Americans were trying out advice that urged
fish, mutton or "any meat except pork" for
breakfast, lunch and dinner — hold the pota-
toes, please.

It turns out our obsession with weight and
how to lose it dates back at least 150 years.
And while now we say "overweight" instead
of "corpulent" — and obesity has become
epidemic — a look back at dieting history
shows what hasn't changed is the quest for an
easy fix.

"We grossly, grossly underestimate" the
difficulty of changing behaviours that fuel
obesity, says Clemson University sociologist
Ellen Granberg, who examined archives at
the Library of Congress. She believes it's
important to show "we're not dealing with
some brand new, scary phenomenon we've
never dealt with before."

Indeed, the aging documents are eerily
familiar.

Consider Englishman William Banting's
account of losing almost 50 pounds in a year.
He did it by shunning "bread, butter, milk,
sugar, beer and potatoes, which had been the
main (and I thought innocent) elements of
my existence" in favour of loads of meat.

His pamphlet, "Letter on Corpulence,
Addressed to the Public,” quickly crossed the
Atlantic and become so popular here that
"banting” became slang for dieting, Granberg
says.

While obesity has rapidly surged in the
last few decades, we first changed from a
nation where being plump was desirable into
a nation of on-again, off-again dieters around
the end of the 19th century, Granberg says.

Before then, people figured a little extra
weight might help withstand infectious dis-
eases that vaccines and antibiotics later would
tame. It also was a sign of prosperity. But just
as doctors today bemoan a high-tech, immo-
bile society, the emergence of trolleys, cars
and other machinery in the late 19th century
scaled back the sheer number of calories peo-
ple once burned, Granberg explains. Increas-
ing prosperity meant easier access to food.

"An excess of flesh is to be looked upon as
one of the most objectionable forms of dis-
ease," the Philadelphia Cookbook declared in
1900. Low-cal cookbooks hadn't arrived yet;
the calorie wasn't quite in vogue.

By 1903, La Parle obesity soap that "nev-

er fails to reduce flesh" was selling at a pricey
$1 a bar. The Louisenbad Reduction Salt
pledged to "wash away your fat." Soon came
an exercise machine, the Graybar Stimulator
to jiggle the pounds. Bile Beans promoted a
laxative approach. As the U.S. government
prepares to update US. dietary guidelines
next week, the Library of Congress culled its
archives and, with Weight Watchers Interna-
tional, gathered experts recently to discuss
this country's history of weight loss.

Granberg recounted how real nutrition
science was born.

The government's first advice to balance
proteins, carbohydrates and fat came in 1894.
A few years later, life insurance companies
reported that being overweight raised the risk
of death. In 1916, the Department of Agri-
culture came up with the five food groups.
Around World War I, charts showing ideal
weight-for-height emerged, surprisingly close
to what today is considered a healthy body
mass index.

Diet foods quickly followed, as did weight
loss support groups like Overeaters Anony-
mous and Weight Watchers — putting today's
diet infrastructure in place by 1970, Granberg
says. Yet fast-forward and two-thirds of
Americans today are either overweight or
obese, and childhood obesity has tripled in
the past three decades. Weight-loss surgery is
skyrocketing. Diet pills have been pulled from
the market for deadly side effects, with only a
few possible new ones in the pipeline.

More and more, specialists question how
our society and culture fuel overeating.

"Should it be socially desirable to walk
down the street with a 30-ounce Big Gulp"
drink ? asks Patrick O'Neill, president-elect of
The Obesity Society and weight-management
director at the Medical University of South
Carolina.

Negotiating a weight-loss menu for a fam-
ily with different food preferences is a mine-
field that affects how people feel about them-
selves and their relationships with loved ones,
adds Clemson's Granberg, who began study-
ing the sociology of obesity after losing 120
pounds herself.

"If what you need is a nutritionally sound,
healthful weight-loss plan, you can get 100 of
them," she says. "That, we have figured out in
the last 100 years. It's how to do all this other
stuff that I think is the real challenge."

(This article was written by Lauran Neer-
gaard, AP Medical Writer).

Bedding 8
Appliances

EDITOR, The Tribune.

The Bahamas Parliament
recently debated amend-
ments to the Business
Licence Act in an effort to
increase revenue as a result
of the governments precari-
ous financial position. In the
process, some businesses
were granted lower tax rates
than others.

Mr. Ryan Pinder, MP for
Elizabeth, wondering why
government chose to lower
the tax for certain business-
es, claimed they were "gen-
erally supporters of the
FNM" and this was public
policy for special interest
groups. (The Tribune,
Thursday, January 20, 2011).

Of course special interest
politics, if that's what we're
secing here, is nothing new.





EDITOR, The Tribune.

It took a while to digest
what was being put forth in
the interview of Atlantis
CEO, Mr George Markan-
tonis.

He had a lot to say about
what he expected from the
Government of the
Bahamas, but the context of
his demands had more to do
with the impact those
demands would have on the
Bahamian people.

He uses the word reform
very loosely but what he is
talking about is a radical lib-
eralisation of the gambling
laws in the Bahamas.

The tone of the interview
suggested that this was a
decision the Government
could make on its own, and
there was a kind of imme-
diacy that gave me the
impression that the CEO
was more concerned about
ongoing profitability, but
this is a matter that will be
decided by the Government
and the people of the

eS
a Bo hour *

LETTERS

letters@tribunemedia.net



As Dr. Steve Horwitz points
out recently in The Free-
man "...all political officials
gain from providing benefits
to the private sector, hoping
different politicians and
bureaucrats will do better is
just rearranging the deck
chairs on the Titanic. "

Mr. Pinder confirms this
when he is quoted as saying:
"Enough with the catering to
special interests. An alterna-
tive would be for a reduced
business license fee for small,
growing companies..." etc,
etc.

In other words, the spe-
cial interest group that

Bahamas. The interpreta-
tion of what was said,
required a word study.

Reform means one thing
and liberalisation means
something else and we usu-
ally take our cues from the-
ologians and religionists as
we try to make sense of
these words in every day life,
but one rule is supreme, you
have to find the context.

I have not seen the report
that the Minister of Tourism
is presenting next month,
but knowing what was dis-
cussed in the past and the
boundaries of the current
legislation, I can take a wild
guess and speculate that
those recommendations in
that report will focus on the
issue of Bahamians being
able to gamble anywhere in
the Bahamas.

Personally, I have a prob-
lem with gambling in the
Bahamas, but the decision
on the issue of liberalisation
should not be driven by the
fact that Atlantis is fearful
of the competition that will
come from Jamaica.

The bottom line is that
anticipated losses of Atlantis
will be made up for by the
government affecting legis-
lation that will allow
Bahamians to gamble over
the bridge and if this is what
the deal is, it is no deal at
all.

We will be “paying” with
some money that we cannot
afford to spend. If the gam-

LIVING $+

Politics —a
contest for
sovernment
favours?

should get the benefits using
the power of Government
should be chosen by Mr.
Pinder and not the current
Minister of Finance.

If it is all special interest
policymaking, they're both
wrong. This then begs the
question if any government
has the right to dig into tax-
payer wallets whenever
they've borrowed and spent
the country into a difficult
spot like the world recession
has highlighted.

If only for future genera-
tions, politics should be
more than a fight to deter-
mine who gets the privilege
to grant government favours
at taxpayer expense?

THE NASSAU
INSTITUTE
www.nassauinstitute.org

Gambling laws must not be changed because
someone is having problem with bottom line

bling laws are amended in
this regard, then Atlantis
will truly be the largest
“employer” in the Bahamas.

As a precaution, the Gov-
ernment has to regulate
what is going on with gam-
bling, locally, if just to avoid
the hypocritical backlash
that is sure to follow if “lib-
eralisation” happens. It will
be much easier to “reform”
or “liberalise” since both
sides of the gambling spec-
trum are regulated and then
at that point the citizens of
the nation decide.

The sticking point being
that the Bridge allows for
two way traffic, since gam-
bling over the hill is just as
lucrative as gambling on
Paradise Island or Cable
Beach can be just as lucra-
tive as gambling in Nassau.

Every time the Prime
Minister has a chance to
take a breather, it seems like
something comes up, and
this issue has referendum
written all over it.

Our laws on gambling
may need change, adjust-
ment or liberalisation, but it
must not be done because
someone is having a prob-
lem with their bottom line.

EDWARD
HUTCHESON
Nassau,

January 25, 2011.

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THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 5



LOCAL NEWS

Bahamas signs agreement to see
firearms tagged and tracked

STATISTICS
‘LIKELY TO
SHOW 2010
HAD MOST
VISITORS’

A FINAL tally of
last year’s tourism sta-
tistics will likely show
that 2010 was the year
the Bahamas received
its highest number of
visitors.

Tourism Permanent
Secretary Hyacinth
Pratt made this state-
ment at the Cacique
Awards mass at St
Barnabas Anglican
Church last Sunday.

Addressing the
congregation, Ms
Pratt said it is only
the second time in his-
tory that the Bahamas
received more than
five million visitors.

Spending

Most of the visitors
were cruise passen-
gers, and the ministry
is now looking to
attract more stopover
visitors, who tradi-
tionally are higher
spending visitors, she
said.

The church service
served as a national
call for personal and
professional improve-
ment in the tourism
sector.

As industry repre-
sentatives attended
the service before the
Cacique Awards are
held on Friday, Canon
Basil L Tynes focused
on the need for posi-
tive change in the
country. He said
Bahamians must look
for divine assistance
as they seek to better
themselves and their
competitive position.

“T want to challenge
you all in tourism like
the rest of us, stop
looking at the chal-
lenges of the situa-
tion. Stop looking at
the darkness of the
hour,” he said.

Development

Canon Tynes said
the Ministry of
Tourism and Aviation
cannot continue to do
the same things if it is
to remain on the cut-
ting edge of develop-
ments.

“Some of you have
to change,” he said.

Ms Pratt said the
ministry is moving to
improve business by
reorganising and mak-
ing several positive
changes.

At the moment, she
said, teams have been
assembled within the
ministry to make steps
toward reinvigorating
the visitor’s experi-
ence and many other
areas.

While the high visi-
tor numbers are
something to be cele-
brated, Ms Pratt said
“we still must improve
on many aspects of
our product and ser-
vice to keep our visi-
tors satisfied.”

“While we are busy
attracting millions of
visitors, we must also
be busy giving them
the type of service
and experiences that
will sustain our busi-
ness.”

The Cacique
Awards will be held at
the Rainforest The-
atre, Wyndham Nas-
sau Beach on Friday
at 8pm.

The awards, which
are designed to hon-
our and encourage
top performers in
tourism and related
areas, will bestow
Duho trophies on
winners in 18 cate-
gories.

By KHYLE QUINCY
PARKER

Press Attaché

Embassy of the

Bahamas

WASHINGTON, DC -
The Bahamas signed an
anti-gun co-operation
agreement with hemi-
spheric partners on Tues-
day which will make it
possible for firearms to be
marked and tracked.

The agreement, “Pro-
moting Firearms Marking
in Latin America and the
Caribbean” will give local
law enforcement agencies
access to the training and
equipment needed to
make gun tracking possi-
ble.

Ambassador Cornelius
Smith, permanent repre-
sentative of the Bahamas
to the Organisation of
American States (OAS),
called the project “very
important for [The
Bahamas] because we
have become a transit
point for drugs and small
arms.

“The marking = of
firearms helps us identify
the weapons that have
been used in criminal
activity, and therefore
helps to combat crime in
the region,” he said.

Other parties to the co-
operation agreement are:
the General Secretariat of
the OAS (GS/OAS) and
the governments of Costa
Rica, Paraguay and
Uruguay.

These are the first coun-
tries to sign such an agree-
ment in the framework of
the Inter-American Con-

REPRESENTATIVES from the Bahamas, Costa Rica,
Paraguay, Uruguay, the US and the OAS General Sec-
retariat signed a joint co-operation agreement aimed at
increasing the ability of law enforcement to track light
arms to their point of origin. Photo/OAS

vention against the Illicit
Manufacturing and Traf-
ficking in Firearms,
Ammunition, Explosives
and Related Materials
(CIFTA).

CIFTA posits that mark-
ing firearms helps combat
illicit gun trafficking as it
allows authorities to iden-
tify seized weapons to
determine their origin.

Through this agreement,
the OAS aims to strength-
en national capacities in
illicit firearms trafficking
and provide marking

equipment and training to
beneficiary countries.

In accordance with the
pact, the OAS agreed to
provide a marking
machine and accessories
to the Ministry of Nation-
al Security and provide
training in the use of this
equipment.

These assets, once deliv-
ered, will become the
property of the govern-
ment of the Bahamas.

The Bahamas, in turn, is
obligated to provide the
GS/OAS with information

Pot aa Ne

VERY OV WN STSEET PIRILOSO PFE

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on the country’s capacity
and needs with respect to
firearms marking, record-
ing and tracing.

The Bahamas also
agreed - among other
things — to co-operate with
the GS/OAS on follow-up
missions and to mark an
average of 100 firearms
per month for the first 12
months after receiving the
machine.

During the signing cere-
mony, OAS Secretary
General José Miguel
Insulza affirmed the
organisation’s intent to
develop and strengthen
national capacities of the
co-operating countries to
combat illicit-arms traf-
ficking through: advice on
the development of model
legislation, exchange of
best practices, gathering
and analysing statistical
information, and offering
technical assistance.

Representatives of the

i a
EXTERMINATORS
Wee ena
PHONE: 322-2157



governments of Costa
Rica, Paraguay and
Uruguay also called for
gun crime to be consid-
ered a major scourge that
must be faced by every
nation.

The project is being
funded by the United
States. US permanent rep-
resentative, Ambassador
Carmen Lomellin, encour-
aged OAS member states
to continue implementing
measures to combat this
scourge.

“Concrete steps by indi-
vidual countries and col-
lective steps by regional
and international organi-
sations can go a long way
through combating arms
trafficking,” she said.







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PAGE 6, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE



LOCAL NEWS



Egypt offers scholarships to Bahamians

By BETTY VEDRINE

TWO scholarships and
possibly a third will be
available to Bahamians
wishing to pursue an edu-
cation in Egypt.

The scholarships — one
in agriculture and the oth-
er in the Arabic language —
are being offered by the
Egyptian government. The
third scholarship, which is
currently not yet con-
firmed, would be in
tourism.

The announcement was
made on Monday during a
courtesy call on Education
Minister Desmond Bannis-
ter by Assistant Foreign
Minister for the Americas
El] Husseini Abdelwahab
and Egyptian Ambassador
to the Bahamas (stationed
in the Republic of Cuba)
Tarek Elwassimy.

The Egyptian delegates
hope to form partnerships
with the various govern-
ment sectors in order to
facilitate the scholarships.
The meeting was held at
the Ministry of Education
on East Street South.

Mr Bannister welcomed
the Egyptian delegates and
thanked them for their
“generous” gift.

“We are very pleased to
have you here in the
Bahamas and pleased to
hear that there are possi-
bly some opportunity avail-
able for Bahamians wish-
ing to pursue higher edu-
cation in your country,” the
minister said.

Mr Abdelwahab said he
was delighted to be in the
Bahamas for the second
time.

“It gives us great plea-
sure to be in the Bahamas
— our second time for both
of us,” he said. “The first
time as a tourist and now



PICTURED FROM LEFT TO RIGHT: Deputy D

+



irector of Education Patricia Collins: Director of Education for Higher Learning Dr Leon Higgs; Permanent Secreta





ry to

the Ministry of Education Elma Garraway; Assistant Foreign Minister for the Americas El Husseini Abdelwahab; Education Minister Desmond Bannister; Egyptian
Ambassador to the Bahamas, Tarek Elwassimy and Director of Education Lionel Sands.

as an official trying to pro-
mote our relationship with
your country.”

Mr Bannister added that
the scholarships would give
Bahamians the opportunity
to be exposed to another
culture.

“As you know, educa-
tion bridges gaps we some-
times don’t perceive to be
there. We are grateful for
these opportunities and
hopefully students from
your country would also
wish to pursue education
and other cultural
exchanges available in our
country,” he said.

The delegates also paid
visits to the Minister of
Foreign Affairs Brent
Symonette; Minister of
Youth, Sports and Culture
Charles Maynard and the
Minister of Tourism and
Aviation Senator Vincent
Vanderpool-Wallace.

February 2nd - 4th, 2011

- q — H
ps - _ —_ _

ASSISTANT FOREIGN MINISTER for the Americas El Husseini Abdelwahab and Egyptian Ambassador to the Bahamas Tarek Elwassimy



pay a courtesy call on Minister of Education Desmond Bannister at the Ministry of Education. Pictured left to right: Minister Bannis-
ter, Mr Abdelwahab and Mr. Elwassimy.

Bahamas to host International Society
of Family Law regional conference

zeba hamas
of ie

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é Environment, Deckendale House

MORE than 40 distinguished presenters from
around the world are set to deliver papers at the
International Society of Family Law regional
conference in March.

Presenters will be jurists, legal scholars, psy-
chologists, social workers and educators from
the Caribbean, Canada, the UK, the US, Ger-
many, Sweden and Serbia.

Among them will be Lord Justice Matthew
Thorpe from the Court of Appeal of England
and Wales; Justice Nancy Flatters from the Cal-
gary Family and Youth Court in Alberta, Cana-
da; Professor Dr Jane Adolphe of Ave Maria
Law School, an expert in family law, interna-
tional law, criminal law and canon law, who has
acted as the delegate for the Holy See at various
regional and international conferences; and Pro-
fessor Dr Bill Doherty of the University of Min-
nesota, an educator, researcher, writer, thera-
pist and media personality.

The theme of the conference is the legal and
social consequences of the disintegration and
reintegration of families.

Matters to be discussed include: marriage and
divorce, cohabitation, property distribution, medi-
ation, paternity and inheritance; transracial, inter-
country and same-sex adoption; assisted repro-
duction and ethical issues, child development,
international child abduction, juvenile delin-

quency, domestic violence, human rights and
the family and same sex marriages.

Participants have been urged to take advantage
of the discount for early registration.

The planning committee announced that “ear-
ly bird registration” will save participants $50, as
from February 1, the cost will increase from $350
to $400.

The statement said the registration fee includes
conference materials, breakfast, lunch and snacks.

The conference will take place from March
17 to 19 at the British Colonial Hilton Hotel. It is
being hosted by the Eugene Dupuch Law School.

Registration forms are available on the con-
ference’s website:
http://www.law2.byu.edu/isfl/201 1bahamasconf.

On the morning of March 17, there will be a
pre-conference Judges’ Forum on Judicial Dis-
pute Resolution conducted by Justice Flatters
and a simultaneous Students’ Forum conducted
by Dr Leighton Jackson of UWI Faculty of Law
in Jamaica, Tracy Robinson of UWI Faculty of
Law at Cave Hill and Lord Justice Thorpe.

“Participants will benefit from an attractive
rate from the conference hotel and a discounted
airfare from American Airlines. Attractive tours
to scenic tourist sites, including Atlantis on Par-
adise Island have been planned,” the planning
committee said.

US Re UR TaN



GOVERNOR-General Sir
Arthur Foulkes welcomed to
Government House on Mon-
day students of Henderson
College who completed the
Heritage Site Certification
Course for the Bahamas in
Partnership with the United
States National Park Pro-
gramme.

Pictured left to right seated:
Dr Ann Higgins; Dr Rita
Pratt, president of Henderson
College; Sir Arthur; Gladys
Johnson-Sands, former Con-
sul General.

Standing: Alecca Ramsey,
Clifton Heritage National
Park; Craig Mortimer, special
projects, Ministry of Tourism;

Asa Thompson, Clifton Her-
itage National Park; Vernita
Pratt, Clifton Heritage
National Park; Eden Zonicle,
Cat Island; and Madelyn
Turnquest, grounds supervi-
sor, Clifton Heritage Nation-
al Park.

Derek Smith/BIS

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



THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 7



LOCAL NEWS

Sponsors asked to help keep €
depression hotline open

IN THE face
increased suicides ia
attempted suicides in the
Bahamas, the Department
of Social Services is ask-
ing corporate sponsors to
help keep the recently
established depression
telephone hotline going.

The national hotline was
set up in December to
help individuals having
trouble or feeling over-
whelmed to deal with their
issues.

Twenty trained counsel-
lors are available 24-hours
a day to help persons with
any problems they are fac-
ing, and those individuals
needing more counselling
are referred to the Com-
munity Counselling and

Suicides prompt Dept of
Social Services to seek help

Mavis Darling Hill, deputy
director of Department of
Social Services during an
interview at her office last
Friday.

The hotline is a joint ini-
tiative between the Gov-
ernment and the account-
ing firm Grant Thornton
Bahamas; it was officially
launched by Minister of
Labour and Social Devel-
opment Senator Dion
Foulkes.

The deputy director said
she was approached in
August or September 2010
by Andy Paul Gomez,

Thornton Bahamas, after
he became concerned over
the number of persons
committing or attempting
to commit suicide; persons
having difficulties handling
their problems or strug-
gling with being unem-
ployed.

The accounting firm has
handled all the expenses
that have been incurred
since the initiative began,
she said.

“Grant Thornton start-
ed the initiative and we
are very grateful to them,”
Mrs Darling Hill said.

Assessment Centre, said

managing partner of Grant

“However, it can be

Immigration Dept ‘does not
have handle on citizenship
applications backlog’

By SIMON LEWIS

THE Department of Immigration still
does not have a handle on the backlog of
citizenship applications, but is working
through them as quickly as possible,
Deputy Prime Minister and Minister of
Foreign Affairs Brent Symonette said dur-
ing his visit to Freeport last week.

Mr Symonette was in Grand Bahama
to welcome 16 new Bahamian citizens,
one of whom was born in the Turks and
Caicos Islands and has been living in the
Bahamas for some 56 years.

The Foreign Affairs Minister said that
they are trying to clear up the back log of
persons applying for citizenship and that
he tries to come to Grand Bahama on a
regular basis to take part in the swear-
ing-in ceremonies.

He said there are a number of persons
born in the Bahamas who have lived here
all their lives, went through the school
system, and “they obviously have a sense
of frustration that they don’t have citi-
zenship.”

“They feel they are Bahamian, they
know our symbols, they are a part of our
community.

“So for those persons who have been
here for a long time and meet the require-
ments, we are trying to swear them in so
they become citizens,” he said.

With respect to the Immigration Board,
the Deputy Prime Minister said it meets
every Monday in Nassau and that he tries
to meet with the board in Grand Bahama
once a month.

Agenda

He noted, however, that occasionally
the board in Grand Bahama would fax
an agenda down to Nassau for approval,
particularly the urgent ones.

He said part of the problem regarding
timely granting of work permits is largely
the Immigration Department is still man-
ual but once it comes fully into the elec-
tronic system, there should be a turn-
around.

Mr Symonette said he recently toured
the new government complex under con-
struction on the Mall in Freeport, and
that the contractor, Fletcher McIntosh,
is “on time” with his work.

The Department of Immigration is
looking forward to relocating from its cur-
rent location.

“Tf any of you have toured the back
offices of Immigration, I really admire
those persons who work under those con-
ditions, so we hope in August/September
to be in the new offices and that should
give them a new environment to work
in,” he said.

Focusing on unemployment, the minis-
ter brought up the mindset of some
Bahamians with respect to certain jobs.
He noted the number of foreign persons
working at Sanitation Services and the
few Bahamians taking advantage of the
opportunities to be maid and gardeners.

Mr Symonette also advised that his min-
istry has started a new electronic work
permit, a companion project with the
Passport Office.

He said the card will be computer gen-
erated with all the information regarding
the holder, eliminating much of the ques-
tioning process when it's time for renew-
al.

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DEPUTY PRIME MINISTER:
Brent Symonette in Freeport

He said this will apply for work visas,
permanent residents and more.

This process has already started in Nas-
sau.

The Foreign Affairs Minister added that
he also took a look at the Passport Office,
which will be re-located to the new build-
ing when completed.

Passports

He said that during 2010, the Depart-
ment in Grand Bahama issued some 8,800
passports. He feels that they are doing
well and have “ironed out most of the
kinks.”

During his two-day visit to Grand
Bahama, Mr Symonette met with 13 exec-
utives from several major companies,
including Grand Bahama Power, Grand
Bahama Ship Yard, Pharmachem and Our
Lucaya Resort during his two-day visit to
the island.

He also met with two top executives
from the Professional Engineers Board
as well as addressing participants attend-
ing the International Business and
Finance Summit held at the Our Lucaya
Resort January 21 - 23.



expensive just for one cor-
poration to take this ser-
vice on; it really is an
unselfish deed.”

Although, Mr Gomez
has been in talks with
another firm to take over
the expenses starting in
February, the ministry is
also asking other corpo-
rate sponsors to come
onboard.

Mrs Darling Hill said
persons believe that once
things are going well for
them, the problems or
dilemmas affecting others
are not their concern.

“However, our lives are
intertwined and we ought
to realise that if an indi-
vidual is having a difficult
time, his or her children
might be affected as well,
and that is where the prob-
lem comes into play. That
is where we get lots of
problems with crime.

“Parents are upset and
not able to cope properly
or adequately, and so it is
transferred to their chil-
dren who feel that the sys-
tem is not being very kind
to them. So they get to the
point where they are con-
stantly angry, not under-
standing why there they
angry and they strike out
at society,” she said.

“So we are asking busi-
ness houses throughout
the Bahamas to come for-
ward and assist.”

Mrs Darling Hill also
reminded the public that
all calls to the hotline are
confidential.

A sedan ahead.

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She noted that some
persons have been very
forthcoming, while others
have been very hesitant to
give information that
could lead to further assis-
tance.

She said family, friends,
colleagues, and acquain-
tances of persons having
problems should encour-
age them to utilise the ser-
vice, but if they keep
meeting resistance, and
the situation seems dire,
then the concerned per-
sons should call the hot-
line to receive help on how
else to proceed.

Dr Kirk Christie, a psy-
chiatrist at the Sandilands
Rehabilitation Centre, is
conducting sessions with
the counsellors to keep
their skills sharp, she said.

Mrs Darling Hill
thanked the other partners
of the programme includ-
ing the Bahamas Telecom-
munications Department,
which has been supplying
the cell phones, and the
police who lend their assis-
tance when callers need
immediate attention as the
counsellors cannot go toa
scene for themselves.

“We do not want to lose
a life because someone is
having a difficulty. There
is always a solution and
that is what we are trying
to preach here,” she said.

Anyone experiencing
difficulties, stress, depres-
sion or suicidal thoughts
is asked to call the hotline
at 322-2763.

Re-Introducing the 2011
NISSAN TIIDA





SHAWN FEASTER

MAN WANTED FOR
QUESTIONING

POLICE are on the
lookout for Shawn Feast-
er who is wanted for
questioning in connection
with stolen vehicles.

The Central Detective
Unit has issued an all-
points bulletin for the 38-
year-old whose last
known address is But-
tonwood Avenue in
Pinewood Gardens.

He has a brown com-
plexion, is 5’9” tall and
weighs approximately
170Ibs with a slim build.

Police caution that he
is considered armed and
dangerous.

Anyone with informa-
tion on Feaster’s where-
abouts should call police
at 919/911, the Central
Detective Unit at 502-
9930/9991, the Police
Control Room 322-3333,
Crime Stoppers 328-8477
or the nearest police sta-
tion.

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PAGE 8, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





‘Greatest single threat’ to
Bahamas seafood resources

By LARRY SMITH

A RECENT report by a
leading University of Miami
marine scientist has confirmed
that poaching by commercial
fishermen from the Domini-
can Republic is the greatest
single threat to Bahamian
seafood resources.

The report on illegal, unre-
ported and unregulated (IUU)
fishing was produced for the
Bahamas Lobster Fisheries
Improvement Project. This ini-
tiative is sponsored by local
seafood processors in a bid to
win endorsement for Bahami-
an crawfish exports under the
European Union's new Catch
Certification programme.

Without this endorsement,
which is aimed at reducing the
over-exploitation of global fish-
ery resources, Bahamian lob-
sters will be banned from the
EU. And this lucrative market
takes about 40 per cent of the
12.5 million lobsters we legally
export every year (based on a
four-year average), a catch val-
ued at more than $87 million.

EU certification requires
that lobsters are received only
from licensed vessels using
legal methods — meaning that
only crawfish of legal size and
condition are harvested. All
fishery products must be prop-
erly documented upon land-
ing, with guarantees that
exports are not derived from
IUU fishing.

Tronically, this is one of the
main difficulties in dealing with
illegal fishing in Bahamian
waters. The Dominican
Republic has a population of
9.6 million (compared to only
353,000 Bahamians), and it
receives more than four mil-

TOUGH CALL

ARRY SMITH

lion air/hotel visitors annually.
So that country does not need
to export seafood products and
is immune to pressures from
EU regulations.

Along the northern
Dominican Republic coast are
three major ports and several
huge resort centres, one of
which — Punta Cana — has
more hotel rooms than the
entire Bahamas. The size of
the Dominican tourism indus-
try presents an almost unlimit-
ed demand for luxury seafood.
And Punta Cana hotels have
lobster on the menu for US$16,
about half the price of a typical
lobster tail dinner in Nassau.

As well, American statistics
show that 89,000 pounds of
lobster tails were legally
imported from the Dominican
Republic in the past year, but
according to international con-
servation organizations, there
are no commercially viable
stocks of spiny lobsters in
Dominican Republic waters.
In these circumstances, it is
obvious where the lobsters for
Dominican resorts and
exporters are coming from.

From the Dominican
Republic's northern coast, it
takes less than three days to
reach the Great Bahama Bank
in a fishing vessel making 10-12
knots. These vessels are typi-
cally 65 feet long, and each is
attended by a number of small-
er skiffs. Fishermen operate



from the skiffs using hookahs
and spears, at depths well
below 60 feet. And divers fish
to depths of over 200 feet,
reaching deep reef resources
not legally fished by Bahami-
ans, according to the IUU
report.

"The potential for large ille-
gal lobster landings in the
Dominican Republic is huge.
The implications in terms of
lost jobs, lost revenue to the
government, and lost fisheries
resources is in the tens of mil-
lions of dollars," the IUU
report warned. "This is a seri-
ous threat to national security
and economic growth.”

The report was produced
by Dr Kathleen Sullivan
Sealey, of the University of
Miami's highly respected
Rosenstiel School of Marine
Science. She has decades of
experience working in marine
conservation in the Bahamas
and was formerly Dean of the
College of the Bahamas sci-
ence division.

Crawfish are the most
important marine resource we
have, so we need to take care
of it. In addition to export
earnings, this fishery provides
jobs, economic diversity and is
an important tourist attraction.
Aside from recreational fish-
ing by visitors, lobster meals
are one of the highlights of vis-
iting The Bahamas, and inter-
views confirm that diners

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CRAWFISH are the most important marine resource we have.

would like to enjoy a guilt-free
meal. Bahamians also eat lob-
ster, and expect this seafood
to remain affordable for the
general population.

But in order to protect this
resource, we need accurate
information, and little or none
has been available on the scale
or intensity of illegal fishing or
for legal, non-commercial fish-
ing in the Bahamas. This
undermines fishery manage-
ment efforts and places the
resource at greater risk of over-
exploitation. The IUU report is
an attempt to address this defi-
ciency by looking at consump-
tion by restaurants, recre-
ational fishers and commercial
fishers, including poachers.

Illegal fishing is the har-
vesting of lobster by any means
in violation of the existing laws
and regulations, including
poaching, taking undersized
lobsters, taking lobsters out of
season or using destructive
methods such as bleach. Unre-
ported fishing includes lobsters
that are caught, sold and con-
sumed locally by Bahamians
and visitors, or legally exported
under the sportfishing regula-
tions.

Sullivan Sealey surveyed
restaurants and resorts; inter-
viewed yachters, tourists,
Defence Force officers and
local fishermen; examined data
from seafood processors, and
looked at the lobster market
in the Dominican Republic.
The main conclusions from this
research are that restaurants
may account for 570,000 ille-
gal lobsters a year — about 5
per cent of the current export
quantity; while the unreport-
ed catch could be some 1.5 mil-
lion lobsters —- about 12 per
cent of known export landings.

By far the biggest drain on
the resource is illegal fishing
by foreign vessels, mostly from
the Dominican Republic. US
law prohibits the import of
fishery products that have been
illegally taken, possessed,
transported or sold. This
includes the shipment of lob-
ster from The Bahamas with-
out export permits, or taken
by foreign nationals in excess
of the sportfishing limits (cur-
rently six lobsters per person).
The Cuban fishing industry is
state controlled, and since the
1980 sinking of HMBS Flamin-
go by the Cuban Air Force,
there have been few reports of
poaching by Cuban vessels.

Nevertheless, "Foreign fish-
ing vessels operate across the
southern Bahamas, venturing
further north and across the
Great Bahamas Banks during
the summer when the lobster
fishery is closed to Bahami-
ans,” Sullivan Sealey said.
"There are no accessible
records of sightings of foreign
fishing vessels, but anecdotal
information puts the number
at about six per month.
Reports of illegal immigrants
from Honduras and the
Dominican Republic working
on Bahamian fishing vessels
have also been verified."

Her report says it could be
concluded from the interviews
with Defence Force officers
that the interdiction of poach-
ers is not a priority for the
patrol vessels. "The RBDF is
itself a significant fishing entity,
with both shipboard and
island-based personnel engag-
ing in recreational fishing as a
way to supplement incomes."

Sullivan Sealey estimated
the number of lobsters taken
out of Bahamian waters by
poachers based on 30 vessels
making six trips a year, with a
catch of 10,000 pounds per trip.
"This conservative estimate of
illegal landings is a staggering
35 per cent (or 4.3 million) of
the known export of 12.5 mil-
lion lobsters from the
Bahamas."

However, she pointed out
that as many as 65 fishing ves-
sels could be operating from
northern Dominican Republic
ports, and lobsters are not their
only target. Conch, grouper
and other finfish are also taken,
as all are highly marketable in
the Dominican Republic. And
each vessel could land over
70,000 pounds of catch per trip.

"The key to reducing the
illegal fishing loss is to prevent
illegal fishers from entering
Bahamian waters,” the report
said. "The process of seizures
and prosecutions, along with
the cost associated with hold-
ing the vessels, crew and catch
is largely ineffective. There are
charges of corruption, and
clearly a strong motivation
with the amount of money
involved in the sale of lob-
sters."

Diplomatic efforts to
address the problem are likely
to be more effective, the report
said. along with identifying the
vessels involved and pursuing
their financiers. National Secu-
rity Minister Tommy Turn-
quest told me that the govern-
ment was already pursuing this
option and a spokesperson for
the Ministry of Foreign Affairs
said a Bahamian ambassador
to the Dominican Republic
would soon be appointed to
take matters further.

"The government is also
providing increased resources
to the RBDF to better equip
them to deal with this prob-
lem," Turnquest said. "This
includes the decentralization
of the Defence Force with
boats stationed to respond
quickly. A base is being devel-
oped at Gun Point, Ragged
Island, which is close to the
Great Bahama Bank, our main
fishing grounds."

According to Dr Patricia
Rodgers of the Ministry of For-
eign Affairs, one of the prob-
lems is that poachers have
been receiving fairly light
penalties and are then released.
"It is my understanding that
the relevant Ministries are now
seeking to ensure that persons
or entities who poach in our
waters are charged to the full
extent of the law and the resul-
tant sentences are also to be
published.”



Director of Marine
Resources Michael Braynen
told me his department was
"extremely concerned about
IUU fishing in terms of its
impact on fishermen, on gov-
ernment revenues, and even
more significantly on our fish-
ery resources themselves." He
said British fisheries consultant
Paul Medley has been work-
ing on a stock assessment for
the seafood processors, which
won't be released until after a
series of peer reviews by other
scientists later this year.

Meanwhile, Sullivan Sealey
reports that anecdotal evidence
of migrating lobsters, the abun-
dance of lobsters in nearshore
habitats, and the success rate of
lobster condos in fisheries land-
ings, all suggest that crawfish
numbers are declining.
Although Medley’s prelimi-
nary appraisal indicates that
the fishery is still in fairly good
shape, a staggering number of
lobsters are being removed
from Bahamian waters each
year —- more than 18 million,
according to Sullivan Sealey's
estimates.

She also pointed to the his-
torical damage to lobster habi-
tat throughout the Bahamas.
Even on islands with relatively
small human populations, she
has documented damage at
more than 60 per cent of
coastal survey sites she has
worked on due to the use of
bleach and explosives, and
through destruction of coastal
wetlands and mangrove creeks
that provide juvenile lobster
habitat.

Braynen also acknowledged
that poaching appears to be
increasing year on year,
although it is difficult to say by
how much.

The only indicator he could
offer was that the standard of
the Dominican boats being
apprehended in Bahamian
waters is much improved late-
ly, a sign that greater invest-
ments are being justified by the
illicit returns.

"The greatest number of
lobsters caught and removed
from the ecosystem is likely
through illegal foreign fishing
in Bahamian waters,” Sullivan
Sealey concluded. And she
confirmed the existence of a
large domestic market for lob-
ster in the Dominican Repub-
lic, with a fishing fleet capable
of accessing Bahamian waters.

"Clearly, the most effort
should be put into the docu-
mentation and monitoring of
illegal fisheries landings in the
Dominican Republic,” she told
me. "It is important for the
Bahamas to make formal com-
plaints to the Dominican
Republic, and ultimately, you
have to deal with who is fund-
ing this — better boats, more
fuel, travelling further — there
has to be a lot of money
involved."

What do you think?
Send comments to

larry@tribunemedia.net
Or visit www.bahamapundit.com

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PAGE 10, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE



INTERNATIONAL NEWS



Egyptians denounce Mubarak
and clash with riot police

HAMZA HENDAWI,
Associated Press
CAIRO

Egyptian police fired tear gas and rubber bul-
lets and beat protesters to clear thousands of
people from a central Cairo square Wednesday
after the biggest demonstrations in years against
President Hosni Mubarak's authoritarian rule.

Two protesters and a police officer were killed
in the nationwide demonstrations inspired by
Tunisia's uprising, which also demanded a solu-
tion to Egypt's grinding poverty and were likely
to fuel growing dissent in a presidential election
year.

Mobilized largely on the Internet, the waves of
protesters filled Cairo's central Tahrir — or Lib-
eration — Square on Tuesday, some hurling
rocks and climbing atop armored police trucks.

"Down with Hosni Mubarak, down with the
tyrant,” chanted the crowds. "We don't want
you!" they screamed as thousands of riot police
deployed in a massive security operation that
failed to quell the protests.

As night fell, thousands of demonstrators stood
their ground for what they vowed would be an
all-night sit-in in Tahrir Square just steps away
from parliament and other government build-
ings — blocking the streets and setting the stage
for even more dramatic confrontations.

A large security force moved in around 1 a.m.
Wednesday, arresting people, chasing others into
side streets and filling the square with clouds of
tear gas. Protesters collapsed on the ground with
breathing problems amid the heavy volleys of
tear gas.

The sound of what appeared to be automatic
weapons fire could be heard as riot police and
plainclothes officers chased several hundred pro-
testers who scrambled onto the main road along
the Nile in downtown Cairo. Some 20 officers
were seen brutally beating one protester with
truncheons.

"It got broken up ugly with everything, shoot-
ing, water cannon and (police) running with the
sticks,” said Gigi Ibrahim, who was among the
last protesters to leave the square. "It was a field
of tear gas. The square emptied out so fast.”

Ibrahim said she was hit in her back with some-
thing that felt like a rock. "Some people were hit
in their faces."

Some protesters turned violent amid the crack-
down. They knocked down an empty white police
booth and dragged it for several yards before
setting it on fire, chanting that they want to oust
the regime. A police pickup truck was overturned
and set ablaze behind the famed Egyptian Muse-
um. Protesters also set fire to a metal barricade
and blocked traffic on a major bridge over the
Nile.

Police at the bridge fired tear gas and protest-
ers mounted a charge, forcing officers to retreat,
though they quickly regrouped. Two protesters
with bleeding head wounds were carried off in
ambulances.

Well after midnight, the smell of tear gas drift-
ed throughout central Cairo and riot police
remained deployed in large numbers. Tahrir
Square looked like a battlefield covered with
rocks and debris. The gates of the ruling party
headquarters near the square were smashed.

Scattered groups of protesters were holding



out in several areas. Many were chased by police
vehicles into the Shubra neighborhood, where
the streets were strewn with rocks in a sign of a
heavy confrontation.

Discontent with life in Egypt's authoritarian
police state has simmered under the surface for
years. However, it is Tunisia's popular uprising,
which forced that nation's autocratic ruler from
power, that appears to have pushed young Egyp-
tians into the streets, many for the first time.

"This is the first time I am protesting, but we
have been a cowardly nation. We have to finally
say no,” said Ismail Syed, a hotel worker who
struggles to live on a salary of $50 a month.

"We want to see change, just like in Tunisia,”
said 24-year-old Lamia Rayan.

Revolution

Dubbed a "day of revolution against torture,
poverty, corruption and unemployment," Tues-
day's protests in cities across Egypt began peace-
fully, with police at first showing unusual restraint
in what appeared to be a calculated strategy to
avoid further sullying the image of a security
apparatus widely criticized as corrupt and violent.

With discontent growing over economic woes
and the toppling of Tunisia's president resonating
in the region, it was an acknowledgment of the
need to tread softly by an Egyptian government
that normally responds with swift retribution to
any dissent.

But as crowds filled Tahrir Square — waving
Egyptian and Tunisian flags and adopting the
same protest chants that rang out in the streets of
Tunis — security personnel changed tactics and
the protest turned violent.

At one point, demonstrators attacked a water
cannon truck, opening the driver's door and forc-
ing the man out of the vehicle. As protesters

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PROTESTS: Police are engulfed by their own tear gas at a demonstration in Cairo, Egypt Tuesday, Jan. 25,
2011. Thousands of anti-government protesters, some hurling rocks and climbing atop an armored
police truck, clashed with riot police Tuesday in the center of Cairo in a Tunisia-inspired demonstration to
demand the end of Hosni Mubarak’s nearly 30 years in power.

hurled rocks and dragged metal barricades, offi-
cers beat them back with batons.

Protesters emerged stumbling amid clouds of
acrid tear gas, coughing and covering their faces
with scarves. Some had blood streaming down
their faces. One man fainted. Police dragged
some away and clubbed a journalist, smashing her
glasses and seizing her camera.

The sight of officers beating demonstrators
had particular resonance because Tuesday was a
national holiday honoring the much-feared police.

Like the Tunisian protests, the calls to rally
in Egypt went out on Facebook and Twitter,
with 90,000 people voicing their support.
Throughout the day organizers used Twitter to
give minute-by-minute instructions about where
to gather in an attempt to outmaneuver the
police, until the government blocked it in the
late afternoon. Twitter announced that its service
had been blocked in Egypt at about 11 am. EST
(1600 GMT), and said that Twitter and its appli-
cations had been affected.

After remaining silent throughout the day,
Egypt's government called Tuesday night for an
end to the protests. The Interior Ministry, which
controls the security forces, said authorities want-
ed to let the protesters express their opinions
and accused the crowds of "insisting on provo-
cation."

"Some threw rocks at police ... and others car-
ried out acts of rioting and damage to state insti-
tutions,” it said. The ruling party said some 30,000
protesters had turned out across the country.

"Egyptians have the right to express them-
selves," said Egypt's Foreign Ministry spokesman,
Hosam Zaki. In Washington, Secretary of State
Hillary Rodham Clinton said Egypt's govern-
ment, a key USS. ally in the Middle East, was
stable and Egyptians have the right to protest,
though she urged all parties to avoid violence.

The dead in Tuesday's violence included a
policeman who was hit in the head with a rock in

Cairo, and two protesters who died in the city of
Suez east of Cairo, an Interior Ministry official
said.

Nearly half of Egypt's 80 million people live
under or just above the poverty line, set by the
UN. at $2 a day. The widespread poverty, high
unemployment and rising food prices pose a
threat to Mubarak's regime at a time when ten-
sions between Muslims and Christians are adding
to the nation's woes.

"I support change," said Sami Imam, a 53-
year-old retired teacher who took part in Tues-
day's protests. "The police cannot kill us because
we, to all practical purposes, are already dead,"
said the father of four, clutching Egypt's red,
white and black flag.

"T have not visited the butcher in six months,"
he said, in a reference to Egypt's rising meat
prices. Adding to the uncertainty is that Mubarak,
82 and ailing, has yet to say whether he plans to
run for another six-year term in office. Mubarak
has not appointed a deputy since he became
president in 1981 and is widely thought to be
grooming his son Gamal to succeed him.

The protests also follow a parliamentary elec-
tion marred by allegations of widespread fraud
that saw Mubarak's ruling National Democratic
Party win all but a small number of the chamber's
518 seats. In recent weeks, Mubarak and his son
have repeatedly vowed to ensure that ambitious
economic reforms engineered by the younger
Mubarak over the past decade filter down to the
poor. But that has not happened and there has
been a marked increase in the frequency of street
protests over the economy.

In another parallel with Tunisia, the protests
drew energy from the death of a single young
man: a young Egyptian named Khaled Said
whose family and witnesses say was beaten to
death by two policemen in Alexandria last year.
His slaying has become a rallying point for Egyp-
t's opposition. Tunisia'’s protests were also
sparked by a single death, that of a poor Tunisian
vegetable vendor who set himself on fire to
protest corruption. That act has been copied by at
least six people in Egypt. On Tuesday, mothers
carrying babies joined protesters who chanted,
"Revolution until Victory!" and waved signs
reading "OUT!" inspired by the Tunisian slo-
gan "DEGAGE!" Men sprayed graffiti reading
"Down with Hosni Mubarak."

Some passers-by dismissed the protests, saying
a few thousand of Cairo's 18 million people com-
ing out on the streets was not nearly enough to
force change. "This is all just a waste of time,"
said Ali Mustafa Ibrahim, who works at a ciga-
rette stand. "These are a bunch of kids playing cat
and mouse. ... It's just going to create more prob-
lems and more traffic in the city.”

Among the protesters in Cairo was Alaa al-
Aswany, author of the best-selling "Yacoubian
Building,” which portrays corrupt politicians,
police brutality and terrorism in Egypt.

A keen observer of Egyptian society, al-
Aswany said the demonstrations were an impor-
tant opening for the government's opponents.

"They broke the barrier of fear,” he said. "The
writers of the regime were saying Egypt is not
Tunisia and Egyptians are less educated than
Tunisians. But here is the thing: these young
people proved they can take their rights force-
fully.”

"

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THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 11



INTERNATIONAL NEWS



HAITIS RULING
PARTY DEBATES
CANDIDATE'S
FUTURE

PORT-AU-PRINCE, Haiti
Associated Press|

HAITT'S ruling party held }
closed-door meetings Tues- :
day to decide whether to fight :
for their presidential candi- }
date to remain in the race }
despite U.S. and internation- :

al pressure to drop him.

The quake-torn country’s :
political future hinges on how }
the Inite, or Unity, party han- ;
dles an Organization of :
American States recommen- }
dation that would push out- }
going President Rene Preval's
chosen successor, government ;
construction official Jude ;

Celestin, out of the race.

Doing so would open the :
door for carnival singer }
"Sweet Micky" :
Martelly, a pro-military pop-
ulist, to face former first lady ;
Mirlande Manigat in a runoff. :

The OAS says Martelly, :
whose partisans rioted when :
it looked like he would not }
advance, should have finished ;
second in the fraud-marred }
vote and go to the runoff. Its ;
recommendation, based ona }
sample of the vote, was made i
over the objections of other }
candidates and observers who }
said the entire vote should be :

Michel

thrown out.

"There's no final decision }
yet," the coordinator of }
Preval's Unity party, former }
Sen. Joseph Lambert, told }
The Associated Press in the :

evening.

Earlier in the day, Lambert }
told Radio Metropole that "a :
significant number of candi- }
dates for deputies and senate
dropping }
Celestin to avoid internation- ;

would favor"

al sanctions.

The newspaper Le Nou- }
velliste reported that Celestin }
would concede, citing an }
anonymous government offi-
cial — but that report has not }
been confirmed, and a pre- }
dicted party statement has not :

been made.

The debate centers on the }
OAS election observers’ rec- }
ommendation that fraudulent }
tally sheets from the Nov. 28 }

ballot be excluded.

Based on a review of about }
17 percent of the vote, the }
team said that Celestin and }
Martelly, separated by a few }
hundred ballots in the pre- }
liminary results, should switch ;

places.

Now the United States — }
currently holding nearly $1 }
billion in reconstruction aid }
originally promised for last }
year — is insisting that the }
OAS report be implement- }

ed.

"Sustained support from
the international community, }

including the United States,

requires a credible (electoral) }
process" including "conduct- }
ing second-round elections in }
amanner consistent with the }
recommendations and find- }
ings of the OAS technical }
review," the U.S. ambassador }
to the United Nations, Susan }
Rice, told the U.N. Security ;

Council last week.

President Obama calls for

WASHINGTON
Associated Press

PRESIDENT BARACK
OBAMA called for unity
with newly empowered
Republicans in a State of the
Union policy speech that
laid the foundation for the
second half of his presiden-
tial term and next year's
fight for re-election.

Obama staked out terri-
tory in America's political
center. He defended pro-
grams dear to his Democra-
tic base, including the fed-
eral Social Security pension
program and his health care
overhaul. He promised
investments in clean energy
technology and biomedical
research and criticized tax
cuts for wealthy Americans.

But he also backed some
top priorities of Republi-
cans, who took control of
the House of Representa-
tives this month. He called
for cutting the corporate tax
rate, freezing some federal
spending, shaking up the
federal bureaucracy and
eliminating lawmakers’ pet
projects.

He made a direct appeal
for bipartisan lawmaking:
"We will move forward
together or not at all." The
White House released Oba-
ma's prepared speech about
an hour before he delivered
it.

The nationally televised
address before both cham-
bers of Congress is always
one of America's most
closely watched political
events, but this year's speech
had extra drama.

For the first time in his
two-year presidency, Oba-
ma was appearing before a
divided Congress. After
November elections that
Obama has described as a
"shellacking,” Republicans
narrowed the Democratic
advantage in the Senate as
well as taking control of the
House of Representatives.

Obama, who has rebound-
ed in opinion polls in recent
weeks, was looking to posi-
tion himself above politics,
even as both parties maneu-
ver for advantage ahead of
the 2012 presidential vote.

Obama said the American
people are counting on their
leaders to create jobs in the
United States.

"At stake right now is not
who wins the next election,"
Obama said. "After all, we
just had an election."

Obama focused on feder-
al spending for education,
innovation and infrastruc-
ture as ways the government
can support America's foun-
dation and help businesses
create jobs for a generation.
He was pairing that with a

STATE OF THE UNION: Presi-
dent Barack Obama delivers his
address on Capitol Hill in Wash-
ington, Tuesday. (AP)

call to reduce the federal
debt and to make the gov-
ernment leaner.

The speech comes less
than three weeks after
Democratic Congress-
woman Gabrielle Giffords
was seriously wounded in a
shooting rampage in Tuc-
son, Arizona, that killed six
people.

A seat was to remain
empty in honor of Giffords.
Many in both parties were
to wear black-and-white
lapel pins, signifying the
deaths in Tucson and the
hopes for the survivors.
Family members of some
victims were to sit with first
lady Michelle Obama.

The shooting, though its
motives remain unclear,
prompted a debate about
overheated political rhetoric
and the need to tone down
Washington's fierce parti-
sanship. In an attempt at
unity following the attack,
many Democratic and
Republican lawmakers
decided to break with tradi-
tion and sit together.

But those gestures did not
obscure the sharp political
differences between the par-
ties.

One of the most divisive
issues is federal spending.
Public concern about the
growing federal deficit, now
topping $14 trillion, was a

defining force in the 2010
elections. Spending has
become the central issue for
Republicans.

Obama was looking for
the upper hand with a call
for a five-year freeze on all
discretionary government
spending outside of national
security, the White House
said. That would be almost
identical to the freeze Oba-
ma called for in his address
last year. Ultimately it may
have little effect, as Con-
gress decides the budget on
its own terms.

Indeed, the Republican-
dominated House voted on
Tuesday to return most
domestic spending to 2008,
pre-recession levels. The

256-165 vote came on a sym-
bolic measure that put
Republican lawmakers on
record in favor of cutting
$100 billion from Obama's
budget for the current year.

Republicans also chose
one of their leading voices
on spending cuts, House
Budget Committee Chair-
man Paul Ryan, to deliver
the party's televised
response to Obama.

"We are at a moment,
where if government's
growth is left unchecked and
unchallenged, America's
best century will be consid-
ered our past century,"
Ryan said.

While Obama's speech
included little on foreign

‘unity with the Republicans





affairs, he did announce he
will visit Brazil, Chile and
E] Salvador in March. Oba-
ma also called on Congress
to approve a recently nego-
tiated free-trade agreement
with South Korea as soon as
possible.

Obama also said the US.
stands with the people of
Tunisia and all people striv-
ing for democracy. The pres-
ident said the will of the
people in the North African
country proved more pow-
erful than the rule of a dic-
tator.

Tunisia’s autocratic
leader, President Zine El
Abidine Ben Ali fled the
country Jan. 14 after 23
years in power.

Putin vows revenge for Moscow airport bombing



MOSCOW
Associated Press

PRIME MINISTER Vladimir
Putin has vowed revenge for the sui-
cide bombing that killed 35 people
at a Moscow airport — a familiar
tough-on-terrorism stance that has
underpinned his power but also led to
a rising number of deadly attacks in
Russia.

Lax security also was blamed for
Monday's explosion in the interna-
tional arrivals area of Domodedovo
Airport that also injured 180 people,
with President Dmitry Medvedev on
Tuesday criticizing police and man-
agers at the airport, the largest of
three that serve the capital.

NTV television showed a photo-
graph of what it said was the detached
head of the suspected bomber. Inves-
tigators have said that DNA testing
will be necessary before the man,
who appears to be in his 30s, can be
identified.

A two-second video of the blast
itself, broadcast on state television
and said to be from a closed-circuit
TV camera, showed a burst of flames
and passengers falling and fleeing as
smoke filled the hall.

No one has claimed responsibility
for the attack, but suspicion has fall-
en on Islamist separatists from

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RUSSIAN PRIME MINISTER Vladimir Putin (AP)

Chechnya or elsewhere in the restive
Caucasus region who have been bat-
tling Russian authority for over 15
years.

Chechen insurgents have claimed
responsibility for an array of attacks,
including a double suicide bombing
on Moscow's subway system last year
that killed 40 people. They also have

used Domodedovo Airport before,
with two suicide bombers slipping
through its security in 2004 to kill 90
people aboard flights that took off
from there.

Putin rose to power in 2000 on a
now-famous vow that Chechen rebels
would be hunted down and killed "in
the outhouse." But despite a second

devastating war that brought Chech-
nya back under Moscow's control
and sanctioning the violent rule of
his chosen Chechen leader, Putin has
been unable to wipe out the Islamic
insurgency that has spread across
much of the Caucasus.

A brutal crackdown on the insur-
gency has produced a backlash that
has led to almost daily attacks on
police and security forces in the Cau-
casus and brought the terror to
Moscow.

Muscovites have also seen a sharp
rise in ethnic tensions between Slav-
ic Russians and Muslims from the
Caucasus, many of whom come to
the capital in search of work.

In an effort to address the poverty
and high unemployment that feed
the insurgency, the government has
made ambitious plans to promote
economic development in the Cau-
casus, including the building of five
ski resorts across the mountainous
region.

Putin said last week the govern-
ment would allocate 60 billion rubles
($2 billion) this year toward the con-
struction, but the bulk of the $15 bil-
lion needed is to come from private
investors.

Medvedev has been given the task
of attracting badly needed foreign
investment to Russia, a mission he

will take Wednesday to the World
Economic Forum in Davos, Switzer-
land, where he is to be the main
speaker at the opening session.

The airport bombing undermined
his mission and delayed his depar-
ture for a day. Instead of schmoozing
with CEOs of major global corpora-
tions, Medvedev on Tuesday gave a
tough speech to officials at the Fed-
eral Security Service, the main KGB
successor. He suggested that some of
them could have been at fault and
told them to do everything possible to
find those responsible.

"The nest of these bandits, how-
ever they are called, should be elim-
inated," he said.

Medvedev also blamed the trans-
port police, ordering the interior min-
ister to identify officials who should
be dismissed or face other sanctions.
Airport officials also did not escape
blame.

"What happened shows that obvi-
ously there were violations in guar-
anteeing security. And it should be
answered for by those who make
decisions there and by the manage-
ment of the airport,” he said.

Medvedev demanded robust
checks of passengers and baggage at
all major transportation hubs. "This
will make it longer for passengers,
but it's the only way,” he said.





PAGE 12, WEDNESDAY, JANUARY 26, 2011

LOCAL NEWS

THE TRIBUNE



Literacy
Fest

GAMBIER Primary School cele-
brated its third annual Literacy Fest
yesterday.

The theme of the exhibition held at
the Mall at Marathon for the occasion
was “Navigating the archipelago
through literacy expressions”.

The activities of the day included
an opening ceremony at 10am and a
career fair which was held from 11.30
am to 1pm at the mall.

During the opening ceremony, stu-
dents were entertained by Bahamian
artists, authors and poets, including
Tyrone Sawyer.

The students also heard from Per-
manent Secretary in the Ministry of
Education Elma Garraway and other

Sn

Third annual
event features
career fair

educators.

Musical entertainment was provided
by the Royal Bahamas Defence Force
Band.

School officials said the objective of
the event is to educate the parents and
students about the importance of lit-
eracy while helping them to develop a
deeper appreciation for their country.

PHOTOS/TIM CLARKE

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MEDIUM DRINK

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PAGE 4B, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





GB facility as ‘logistics
hub’ for Baha Mar

FROM page 1B

China State Construction, which has
gained a $1.95 billion construction con-
tract from Baha Mar for the Cable Beach
redevelopment, was said by multiple
sources to be in talks with Ken Hutton,
the former Freeport Concrete and John
S George chief executive, about using
the Sea Air Business Centre facility -
valued at $12 million by its Florida-based
owner - for this purpose.

When contacted by Tribune Business
for comment yesterday, Mr Hutton said
he could neither confirm nor deny that
China State Construction was the entity
he was talking to, and that it was over the
possibility of using the Associated Gro-
cers facility as a clearance/storage depot
relating to the Baha Mar project.

However, he did tell this newspaper:
“Negotiations are ongoing.”

Multiple sources familiar with devel-
opments, though, told Tribune Business
that if Mr Hutton was able to seal the
deal with China State Construction, it
would ensure the direct benefits from

the $2.6 billion Cable Beach redevelop-
ment benefited more islands that just
New Providence/Nassau.

They added that such an arrangement
could involve “upwards of 30,000 con-
tainers over three-and-a-half years” being
shipped to, and cleared, in Freeport,
before they were forwarded to Nassau
for use on the Baha Mar project.

Jobs

Such a deal, the sources added, could
“easily” create 30-50 jobs almost imme-
diately for the Freeport economy, which
is badly in need of economic stimulus,
and ensure that some Grand Bahama
residents benefit directly from Baha Mar
without having to leave their homes and
island.

“Tt would be nice to have a $2.6 billion
investment benefit more than Nassau,”
one source said. Describing the potential
impact from the Associated Grocers
warehouse proposal as “really, really sig-
nificant”, the source added that poten-
tially “millions of dollars of construction

the Bahamas International.

Ms Bridgewater and Mr Wilchcombe i
had rented the warehouse facility from }

Associated Grocers, intending to run ; (uency with which hurricanes hit the Bahamas, especially if

their own distribution business. Univer- ; Pfemium income did not match the associated risk.
sal Distributors, from it, yet the venture i
was plagued with problems that resulted :

in the landlord twice moving to lock them ; 45, © f he
? think it reflects our high levels of liquidity and solvency.

out for unpaid rent.

Mr Hutton was said to have been }
appointed to devise a new direction and }
business plan that could make Universal i
Distributors viable, plus generate rental }
income for Associated Grocers from a }
facility it no longer had any use for, pre- }
vious attempts to sell it having proven }
fruitless. This move seems to have led }

to the talks with China State Construc- } jion in profits in the past eight years, and although we've paid

? some dividends, more than 70 per cent has been kept as

tion.

FIRSTCARIBBEAN IMPA



RED LOANS 5% PO



NTS ABOVE SECTOR AVERAGE

FROM page 1B

mance for the 12 months to
October 31, 2011, stood in
start contrast to that of Com-
monwealth Bank, which amid
the severest recession in mod-
ern history saw net income
for its 2010 financial year soar
to a new record of $53 mil-
lion, a 26.1 per cent increase
on the previous year’s $42
million according to unaudit-
ed financials.

RoyalFidelity Capital Mar-
kets, in its assessment of First-
Caribbean’s 2010 perfor-
mance and 2011 prospects,
noted that the bank - BISX’s
largest stock by market capi-

talisation, although under 5
per cent is in public hands -
had seen both interest mar-
gins and net yields drop dur-
ing the previous financial

year.
The investment bank added
that FirstCaribbean’s

impaired loans, as a percent-
age of its total $2 billion-plus
loan book, stood at 12.4 per
cent at the October year-end,
compared to the sector’s 7.4
per cent average.
“FirstCaribbean continues
to have a high level of loan
loss provisions in comparison
to historical trends, as well as
in comparison to other
banks,” RoyalFidelity said.
“Impaired loans as a per-

centage of its total loan book
at the end of the previous fis-
cal year was 12.4 per cent,
compared to industry average
of 7.4 per cent, while its pro-
visioning coverage was at the
lower end of the spectrum at
23 per cent versus the industry
average of 32 per cent.”

Net yields at First-
Caribbean, RoyalFidelity
said, had been impacted by
the large increase in non-per-
forming loans, while lower
average loans had impacted
interest margins.

The end result was that
FirstCaribbean’s trailing 12-
month EPS had hit a “low”
of $0.49, compared to the
$0.90 it reached in 2007 just















civil prosecucion,

Family Islands.

‘ 1
recy I red i,



® Serong organizational skills.

THE NATIONAL INSURANCE BOARD

VACANCY NOTICE

The National Insurance Board (NIB) invites applications from suitably qualified persons co fill

the position of SENTOR ASSISTANT MANAGER in the Board's I egal Department,

JOB SUMMARY

To provide assistance to the Legal Department in the preparation and revision of all lease agreements

and contracts a3 well as provide assistance in the timely preparation of legal matters bor criminal and

RESPONSIBILITIES

‘Ta develop and provide Assistance with facilitating programs ‘On the National Insurance Act and
Regulations and other Statutes and Laws of the Commonwealth of The Bahamas for the benefit
of MIB staff members and stakeholders,
Prepare lease agreements for the various health clinics and kecal offices,
® Review and prepare contract agreements.
Assist in the preparation of macters for criminal and civil prosecution.

Prosecure in the magistrates criminal and civil courts in New Providence, Freeport and che

® Unpdare prosecution starus report.

® Prepare board papers for criminal prosecution.

* Conduct searches at the Supreme Court and Companies Registries.
Assist external counsel with the conduct of marters for the Board,

F Manage aurstanding warrants of arrest ixswed by the Magistrates Court.

Perhorm any other duties thar may be assigned.

Bachelor of Laws (LLB) degree from an accredited college or universicy plus a minimum
of twee (2) years experience in an administrative and SUPECVISOry Capacity,

® Admission to the Bahamas Bar with at least two (2) years practicing experience.
Represent the National Insurance Board in legal macters outside of compliance (as

Be familiar with the National Insurance Act and Regulations and other Statutes and Laws

of the Commonwealth of The Bahamas,

Good judgment and sourid reasoning ability,
® High proficiency in legal writing.

® Excellent verbal and written skills required,

APPLICATION

Inrerestec Verso May apply Dy sal nie 2 COMP pp ization ‘cit, We Wolk Che
I y apply by submitting a completed application form, along with tl

necessary proof of qualifications on or before Friday, Febraary 4, 2011, to the:

Senior Manager, Administration

Human Resources

The National Insuranee Board

Clifford Darling Complex
Nassau, Bahamas



i, a
Fp ar
“Rance







prior to the recession. Even } : :
adjusted for loan losses, the not had to borrow any money. We’ve grown the capital
trailing 12-month EPS stood }
at $0.69 due chiefly to
reduced net interest income }
? underwriting business in the Bahamas and the Cayman

and non-interest income.

Still, the expected improve- :
? Jeanne, Ivan, Michelle and Wilma.

ment in the wider Bahamian

economy during 2011, which i
? where you get strong operating results from. Most of our
improved interest margins }
and reduced non-performing :
loans, was set to benefit First- :
Caribbean’s Bahamian share- ;
holders through improved net :
income and dividend payouts. } the operating results.”
“Assuming FirstCaribbean i P 2 :
Soe : ment income contribution was “the price we pay for being
the increase in net income : :
should be reflected in divi- which does not pay a great return.

dend id,” RoyalFidelity }
ne ee : have access to large amounts of cash when we need to,

should translate into

said.

“While the current trailing :
12-month price earnings mul- }
tiple of the bank is 19, with :
the anticipated improvement }
in net income over the next }
year, we expect this ratio to ;
} month period.

reduce to more normal levels
over the next 12 months.”

RoyalFidelity noted that i

FirstCaribbean’s EPS for the

fell by $2.7 million or 27 per
cent to hit $7.2 million.

es rising, RoyalFidelity said

tions”.

age. This, in turn, reduced
associated impairment
allowances.

Adding that return on } j¢ is exposed to frequent and severe weather-related events.

assets (ROA), return on equi-
ty (RoE), earnings per share } reinsurance as part of its overall risk management program,

and productivity levels all the company’s solid reinsurance program reduces its net

exceeded target for 2010, i
Commonwealth Bank said }
total assets rose to a new }

record of $1.408 billion, a 2.3 ' : o
per cent increase on the ; Bahamas and Cayman Islands, hurricane exposure, “depen-
$1.376 billion recorded at ; deMcy on reinsurance”, and “an increasingly competitive

: pricing environment”.

year-end 2009.

Regular quarterly dividends }
during 2010, plus the two }
extraordinary dividends in }
February and November of
last year, had returned some
$25.5 million to its 6,500 :
: seek to gain market share in the region.”

shareholders, Commonwealth
Bank added.

Net income available to :

common shareholders stood

cent in 2009.

10% PROFIT RETENTION
AIDS ROYALSTAR RATING

FROM page 1B

? strength rating, said that since the current owners acquired

materials and equipment” could be the general insurance carrier in late 2002, the company had
involved. Mr Hutton took over manage- : grown its capital base from an initial $10 million to its cur-

ment of the Freeport warehouse, and }
Universal Distributors, last year via what }
was described as a ‘mutual arrangement’ }

eee tee aes eta aaa by the economy, especially in the motor vehicle segment, Mr
& Baharnian batik, sald to be Bank of 2 Watson said the top-line had also been impacted by the
; company’s conservative risk management stance.

rent $40 million.
Describing 2010 as a “good, not great year” for RoyalStar,
as gross written premium income continued to be impacted

He explained that it did not pay to be “overly aggressive”
in seeking to take on new insurance business, given the fre-

Describing A. M. Best’s action, which also reaffirmed
RoyalStar’s ‘a-’ issuer credit rating and ‘Stable’ outlook,
as “expected”, Mr Watson said of the agency’s actions: “I

“We have over $40 million in capital, are highly liquid and
manage expenses well. It’s good to have an independent,

external third party organisation confirm we’re in good
shape.”

Profits

And he told Tribune Business: “We’ve made over $30 mil-

? retained earnings.

“We've built the capital base from $10 million, mostly with

: retained earnings, although there’s been some preference
? share issues, too.

“But the shareholders have not been diluted, and we’ve

base from earnings, and you can only do that with good
operating performances.”
Mr Watson said that between 2002-2010, Royal Star’s

Islands had to cope with five hurricanes, namely Frances,
He added: “The performance has been strong, and that’s

profits do not come from investment income; they’re under-
writing profits.

“Roughly $22 million of the $30 million has come from
underwriting profits.

“Investment income has been a very much smaller part of

The RoyalStar managing director said the smaller invest-
very liquid. We have lots of cash on the balance sheet,
“We choose to be conservative with investments so we

such as in the aftermath of a hurricane.”

Mr Watson explained that unlike life insurance companies,
which were able to match long-term assets to long-term
liabilities, general insurers such as RoyalStar were dealing
with liabilities and risks of a short-term nature, given that
property and casualty policies normally covered a 12-18

As a result, and given the catastrophic nature of the per-
ils they insured, Bahamian general insurers had to keep

: plentiful reserves of cash on hand.

2010 fourth quarter fell by 61 i
per ek from nae ao : son said that while final figures were awaited, the absence of
as het Income dropped trom } any hurricane claims yet again meant that it was “a reason-
$18.1 million to $11.4 million. § (4%. ae

Net interest income fell by }
$3.6 million or 10 per cent to }
$33.3 million during the quar- :

tet, While Hondntetest ihpome he told Tribune Business, indicating that while RoyalStar

: had finished 2010 well in the black with net income worth
Non-interest expenses, } several million dollars, the performance was not as good as
though, rose by $4.1 million : the $6.816 million achieved the year before.
or 21 per cent to $23.2 mil- }
lion, while total loan loss } added of 2010.
expense of $5.9 million grew }
“significantly” by $7.7 million, :
in comparison to a recovery
of $1.7 million in the compar- }
ative quarter. With income

streams dropping and expens- }

As for RoyalStar’s 2010 financial performance, Mr Wat-

able year”.
“Gross written premiums were under pressure, and motor
premiums were under pressure because of the economy.
“We also had slightly higher claims than the year before,”

“It’s likely to be a good, not great year,” Mr Watson

“Our gross written premium figures have continued to
decline as we slowly lose business, because we’re not pre-
pared to be overly aggressive [in writing new business] due
to the very risky environment.

“A big hurricane would cause a lot of damage, and we
want to have control over our exposure and know where the

i risks are, so that after a large event we can deal with claims
FirstCaribbean continued to }
be impacted by the “ongoing ;
adverse economic condi- : ratings reflect RoyalStar’s solid capitalisation, favourable
? operating performance and established presence within the
Not so Commonwealth } Caribbean market
Bank, which yesterday cred- : :
ited enhanced credit risk man- }
agement with keeping non- }
performing loans below 3 per }
cent of its total loan portfolio, :

well below the industry aver- }

and customers as they deserve to be dealt with.”
In its assessment of RoyalStar, A. M. Best said: “The

Positive

“RoyalStar continues to produce positive operating results,
which are derived from the company’s strong underwriting

performance in conjunction with a steady stream of invest-
? ment income.

“Since RoyalStar writes all of its business in the Caribbean,

Although this makes RoyalStar somewhat dependent on

probable maximum loss to a manageable level.”
On the negative side, RoyalStar said these factors were
offset by the concentration of the company’s risks in the

Interestingly, A. M. Best added: “Local regulatory risk is
somewhat elevated as the Bahamian government increases
its Supervision Over insurance companies operating in the
country, and seeks to tighten regulatory requirements. Fur-
thermore, the Caribbean insurance market has become
increasingly competitive as indigenous and outside insurers

Mr Watson told Tribune Business he was unsure where A.
M. Best was “coming from” in its comments about increased

\ Ss) } government regulation of the insurance industry.
at $48 million, a 33.3 per cent }
rise over the $36 million gen- could aid an insurance industry by reducing risk, ensuring

oo . eee oe : market players “toe the line” when it comes to solvency mar-
per share hit $0.48, compared $ gine Tanidi : I

fo. $0.57 the.vear before,.2 = ae liquidity and capital reserve requirements.
Commonwealth Bank’s }

return on eduity stood at 30 ; ronment, and the tighter the regulatory environment, the

ea age as a players, not the less serious players.”

He added that enhanced levels of regulatory supervision

“We’re very happy with an increased regulatory envi-

happier we are,” Mr Watson said. “That supports serious

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THE TRIBUNE





——y

( AP Photo/Seth Perlman)
LOSS CUT: In this Jan, 21, 2011 photo, the Harley-Davidson Logo is
seen at the Hall's Harley Davidson dealership in Springfield, Ill.
Harley-Davidson Inc. cut its fourth-quarter loss Tuesday, Jan. 25, get-
ting a ride from a restructuring and a strong performance from its
financial services unit even as motorcycle sales slumped.

MILWAUKEE

Harley-Davidson Inc. cut its fourth-quarter loss, getting a ride
from a restructuring and a strong performance from its finan-
cial services unit even as motorcycle sales slumped.

Harley's stock surged $3.45 per share, or 9.45 percent, in
midday trading after company executives appeared to be more
upbeat about the company’s performance this year.

The Milwaukee company on Tuesday reported a net loss
of $46.8 million, or 20 cents per share, a vast improvement
over the $218.7 million, or 94 cents per share, that it lost in the
same period a year ago.

The company would have made money for the quarter with-
out an $85 million charge from buying back senior notes.

Harley said it lost $42.1 million, or 18 cents per share, from
continuing operations. Harley-Davidson Financial Services
contributed $43.5 million in operating income.

Revenue for the quarter rose nearly 20 percent to $917 mil-
lion, though motorcycle sales for the quarter were down 1 per-
cent worldwide and 0.2 percent in the U.S.

Still, the performance beat Wall Street estimates. Analysts
polled by FactSet expected a loss of 24 cents per share on rev-
enue of $853.8 million.

And the company reversed its 2009 full-year loss, posting a
profit of $146.5 million, to 62 cents per share. Harley lost $55.1
million, or 24 cents per share, in 2009.

Harley CEO Keith Wandell said in a statement that the
company feels good about its full-year results. "We have made
strong progress at transforming our business to be leaner,
more agile and even more effective at delivering great products
and customer experiences," he said.

Company executives would not estimate sales for the coming
year, but on a conference call with industry analysts they
seemed optimistic because they plan to increase shipments.

A key factor could be whether Harley's main demographic
will let their hair down a bit more in 2011. The company's
USS. sales fell slightly last year even as consumers returned to
car and truck dealers, helping auto sales rebound 11 percent
over 2009.

LINDA A. JOHNSON,
AP Business Writer

Johnson & Johnson's revenue has
slumped for a second straight year, prompt-
ing its CEO to make an extraordinary pitch
to soothe investors and defend the com-
pany's handling of 17 costly product recalls.

The health care giant, hammered by the
weak global economy, growing pricing pres-
sures and recalls that have kept many pop-
ular nonprescription medicines off store
shelves, reported Tuesday a 12 percent
profit decline and a 5.5 percent drop in
sales for the fourth quarter.

Revenue fell 0.5 percent in 2010, after
dropping 3 percent in 2009 — its first annu-
al decline since the Depression.

Chairman and Chief Executive William
C. Weldon tried to reassure analysts and
investors that J&J has its manufacturing
and other problems under control, in an
unusually lengthy, sometimes repetitive
conference call. Wall Street wasn't buying
it, though, with J&J shares dropping $1.23,
or 2 percent, to $60.99 in afternoon trading
after initially dropping 2.4 percent — a big

WEDNESDAY, JANUARY 26, 2011, PAGE 5B

J&J reports lower fourth
quarter profit, revenue



(AP Photo/Tony Dejak)
LOWER PROFIT: Johnson & Johnson prod-
ucts rest on a shelf at a grocery store Tuesday,
Jan. 25, 2011, in Cleveland.

drop for a huge, diversified company that
rarely sees stock volatility.

J&J's stock has lagged the benchmark
S&P 500 Index over the past year and is
below the $62 level where it traded five
years ago.

"The Teflon has come off J&J ... with a
vengeance,” said analyst Steve Brozak of



WBB Securities. The adjusted earnings
from the maker of Tylenol, medical devices
and biologic drugs matched Wall Street
estimates but revenue fell short and its
earnings estimate for this year was well
below analysts’ current forecasts.

Because of the weak forecast, institu-
tional investors "voted with their feet
today," said Erik Gordon, a professor and
analyst at University of Michigan's Ross
School of Business.

The New Brunswick, N.J.-based compa-
ny reported net income of $1.94 billion, or
70 cents per share, down from $2.21 bil-
lion, or 79 cents per share, in 2009's fourth
quarter.

Excluding one-time items, earnings
would have been $1.03 per share, matching
analysts’ expectations. J&J took an after-tax
charge of $922 million for litigation settle-
ments, a recall of poorly fitting DePuy hip
implants and increasing J&J's product lia-
bility reserve.

The company's revenue fell to $15.64
billion from $16.6 billion a year ago. It was
also below the $16 billion expected by ana-
lysts polled by FactSet.

Strong holiday boosts Coach 20 net income, revenue

MAE ANDERSON,
AP Retail Writer
NEW YORK

Luxury handbag maker
Coach says a strong holiday
season, particularly in North
America, helped its fiscal sec-
ond-quarter net income rise 26
percent.

The increase shows the luxu-
ry sector is rebounding faster
than other retail segments.

To serve consumers cutting
spending at the beginning of
the recession, Coach began
offering more bags for less than
$300. But CEO Lew Frankfort
said Tuesday, when the com-
pany released its earnings
report, that Americans are
spending more on handbags
again. The average retail selling
price of its handbags rose 9 per-
cent for the quarter, more than
the low-single-digit percentage
increase Coach had predicted.

A $498 satchel sold particu-
larly well, Frankfort said,
adding that $400-plus bags
made up 18 percent of all hand-
bag sales during the quarter, as
opposed to 13 percent a year
ago.

Fewer shoppers visited North
American stores, but the aver-
age amount they spent rose
slightly, and the company said
its North American revenue
overall rose 17 percent for the
quarter. Higher conversion —

or the number of people in
stores who make a purchase —
boosted the results, Frankfort
said.

"Consumers who actually
went into stores had a more
serious intention to purchase
than they did last year," Frank-
fort said. "In our world of
accessories, the consumer is
back."

Coach's net income rose to
$303.4 million, or $1 per share,
from $240.1 million, or 75 cents
per share, a year earlier. Rev-
enue increased 19 percent to
$1.26 billion.

Analyst expected earnings of
97 cents per share on revenue
of $1.21 billion, according to
FactSet.

Revenue at stores open at
least a year rose 12.6 percent
in North America. That figure
is a key gauge of retailers’ per-
formance because it excludes
stores that recently opened or
closed.

Sales in China were also
strong, the company said, while
revenue in Japan rose 8 per-
cent in dollars, helped by a
stronger yen. Department
stores are also ordering more
than they did in the depths of
the recession. International
wholesale shipments also
increased.

The company said it expects
revenue and earnings to con-
tinue to increase by double-dig-

“It feels good to choose a health plan
that takes care of my business, my team

99
and me.

Premiums have not been controlled by cutting

benefits and coverage for catastrophic illnesses



Premium increases have on average been lower

than the market rate

FA COLONIAL GROUP
ij INTERNATIONAL

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

it percentages. Jefferies & Co.
analyst Randal J. Konik said
Coach did a "great job" realign-
ing its business during the
downturn; he expects net
income to continue to rise as
Coach capitalizes on its "acces-
sible luxury" market position.

But Konik said rising leather
and labor costs could cut into
Coach's margins in the future.

Coach shares fell 28 cents
Tuesday to close at $53.09.

Coach also said it will buy
back up to $1.5 billion of its
outstanding shares by June 30,
2013.

Other stores that cater to the
affluent have reported strong
holiday sales as well, including
Tiffany & Co. and Signet Jew-
elers.

PRIME GATED COMMUNITY
Requires

MANAGER

Successful applicant should possess proven record

of property management.

Attributes must include accounting, administrative
and personnel management.

Compensation will be based upon expertise and

experience.

Please forward resume to P.O. Box CB 13456
or Fax to 362-6721



PremierHealth

Health insurance premiums have continued to rise, so we



are all more sensitive to the levels of cover and service a

health plan provides.

Feeling good about choosing Premier Health for your

business, is knowing your employees receive more

service and cover for your premium dollar Premier

Health delivers state-of-the-art administration and claims

support to work for your business too. Less hassle on

service, care and price issues means more focus on doing

what you and your team do best.

a

ATLANTIC
MEDICAL

ATLANTIC MEDICAL INSURANCE CO. LTD.
Atlantic House, 2nd Terrace & Collins Avenue, PO. Box $S-5915, Nassau Tel. 326-819 |
Suite 5, Jasmine Corporate Center, East Sunrise Highway, RO. Box F-42655, Freeport Tel. 351-3960

A member of Colonial Group International: Insurance, Health, Pensions, Life

Call 326-819 |

or visit www.cgigroup.bm

Colonial Group International is
rated A-(Excellent) by AM Best.







PAGE 6B, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





EUROZONE BAILOUT BOND SEES ‘RECORD DEMAND

BRUSSELS

The eurozone's euro440 bil-
lion ($599 billion) bailout
fund says its first bond auc-
tion to finance a rescue loan
for Ireland saw "record-
breaking" demand.

COMMONWEALTH

IN THE SUPREME C€

Common Law & Equ:

The European Financial
Stability Facility said Tuesday
its eurod billion ($6.83 billion)
bond sale was almost nine
times oversubscribed, getting
orders worth euro44.5 billion
from more than 500 investors.

The EFSF says that the

2010

JAW 19 gut No.01391

IN THE MATTER of the Quieting

Titles Act, 1959

interest rate for the 5-year
bond is 2.89 percent.

That compares with a yield
of 2.32 percent on comparable
German bonds.

Strong demand for the
fund's first contribution to
Ireland's ?67.5 billion bailout
was expected, after Japan said
it would buy 20 percent of the
issue.

Ireland will only receive
euro3.3 billion of the euro5
billion since a cash buffer is
needed for the fund's triple-A
rating.



AP Photo/Petros Giannakouris

EUROPE IN CRISIS: Tourists walk at 1200 BC ancient cemetery of Keramikos as at the background is seen
the ancient Acropolis hill in central Athens, on Tuesday, Jan. 11, 2011.

AND IN THE MATTER OF ALL
THAT piece parcel or lot of land being
Lot Number Twelve (12) in Highland
Park Subdivision of The Grove Estate
situate in the Western District of the Is-
land of New Providence in the Common-
wealth of The Bahamas

AND ALSO ALL THAT piece parcel
or tract of land comprising an area of
Twelve and Two Hundred and Seventy-
nine Thousandths acres (12.279) situate
on Edmond Street in The Grove Estate in
the Western District of the Island of New
Providence

AND

IN THE MATTER OF the Petition of
SELTEC COMPANY LIMITED

NOTICE

“ALL THAT piece parcel or tract of
land being a portion of the Sub-division
called and known as Highland Park situ-
ate in the Western District of the Island
of New Providence aforesaid and situate
about Twenty (20) feet West of Marlin
Drive and immediately South of Sanford
Drive and bounded on the NORTH by
the said Sanford Drive on the EAST by
Highland Park Sub-division aforesaid on
the SOUTH by a Road Reservation Forty
(40) feet wide and on the WEST by an-
other Road Reservation Fifty (50) feet
wide AND ALSO ALL THAT piece par-
cel or tract of land being another portion
of the Highland Park Sub-division situate
about Six hundred and Eighty and Nine-
ty-six hundredths (680.96) feet South of
Sanford Drive in the Western District of
the Island of New Providence aforesaid
and bounded on the NORTH partly by a
Road Reservation Forty (40) feet wide
on the EAST by land the property of The
Bahamas Government on the SOUTH by
land also the property of The Bahamas
Government and on the West by land said

THE PETITION of Seltec Company Limited in respect of:

UK economy shrinks
and pound plunges

PAN PYLAS,
Associated Press
LONDON

An unexpected downturn in
the British economy shocked
investors on Tuesday, prompt-
ing a sharp drop in the pound
and reigniting debate about the
government's plans to slash
spending and raise taxes to
reduce public debt.

The figures showing a 0.5
percent GDP drop in the last
three months of 2010 fueled
speculation that the British
economy was heading back into
recession — defined as two
quarters of negative growth —
and reined in expectations that
the Bank of England would
start raising interest rates soon
in response to stubbornly high
inflation levels.

The figures are preliminary,
leaving them open to revision,
and followed four quarters of
growth — including 0.7 percent
in the third quarter — as
Britain climbed out of a deep
recession.

In the text of a speech in
Newcastle, Bank of England
governor Mervyn King
appeared to indicate that he
wasn't in a rush to start raising
borrowing costs, a move that
could dampen growth. He
argued that the drop in living
standards for millions of
Britons was an “inevitable
price" to pay for the financial
crisis and subsequent rebalanc-





INTERNATIONAL
BUSINESS

ing of the world and U.K.
economies.

"At some point Bank Rate
will have to return to a more
normal level ... but a return to
economic stability from our
fragile conditions will require
careful and well-judged steps
looking beyond the next few
months,” King said.

King conceded that inflation
would likely rise to between 4
and 5 percent in the coming
months from the 3.7 percent in
December as the recent spike
in energy and commodity costs
combine with higher sales taxes.
But he said price pressures
would start to fall next year as
the economic downturn con-
tinues to rein in wage increases.

In any case, King insisted
there's very little monetary pol-

icy can do to keep a lid on the
prices of imports, such as food
and oil.

Policy

"Monetary policy cannot be
based on wishful thinking,"
King said. "So unpleasant
though it is, the Monetary Pol-
icy Committee neither can, nor
should try to, prevent the
squeeze in living standards, half
of which is coming in the form
of higher prices and half in
earnings rising at a rate lower
than normal.”

King noted that real wages
— the difference between pay
rises and inflation — would
likely fall again this year to lev-
els no higher than in 2005.

"One has to go back to the
1920s to find a time when real
wages fell over a period of six
years," King said.

The governor's comments
come in the wake of figures
from the Office for National
Statistics showing that Britain's
economy shrank again in the
fourth quarter of 2010, largely
because of the heavy snow that
gripped the country during
December, snarling roads, crip-
pling Heathrow and other air-
ports and keeping people away
from shops before Christmas.

But statisticians said the
economy would have flatlined
even without the snow, stun-
ning markets that had been

expecting a 0.5 percent increase
in GDP. Within a minute or
two of the data's release, the
pound had dropped over a cent
against the U.S. dollar, falling to
a low of $1.5753 before settling
around the $1.58 mark before
King took to the stage. Stocks
suffered too, with the FTSE 100
index of leading British shares
underperforming its peers, clos-
ing down 0.4 percent at
5,917.71.

Analysts said the grim eco-
nomic figures will make it diffi-
cult for the Bank of England
to hike any time soon especial-
ly as the Conservative-led coali-
tion government is at the begin-
ning of a sharp fiscal retrench-
ment. The raft of spending cuts
and tax increases the govern-
ment announced last autumn
have not yet even come into
force during the fourth quar-
ter.

"Questions will be raised
about whether this reflects the
onset of the double-dip that had
been feared, and no doubt the
impact of the coalition's fiscal
plans will be under even more
intense scrutiny in an environ-
ment where the recovery looks
to be faltering," said George
Buckley, chief U.K. economist
at Deutsche Bank.

Britain plans sharper spend-
ing cuts than any of the other
major global economies and
how it fares is being closely
monitored around the world,
particularly in Europe.

to be the property of Joseph Tomlinson”

Seltec Company Limited claims to be the owner of the un-

encumbered fee simple estate in possession of the said land
and has made application to the Supreme Court of the Com-
monwealth of The Bahamas under Section Three (3) of the
Quieting Titles Act, 1959 to have his title to the said land in-
vestigated and the nature and extent thereof determined and
declared in a Certificate of Title to be granted by the Court in
accordance with the provisions of the said Act.

Copies of the Petition and the Plan of the said land may be
inspected during normal office hours in the following places:

1. The Registry of the Supreme Court,
East Street North in the City of Nassau,
Bahamas; and

2. The Chambers of Lockhart & Co., #
35 Buen Retiro Road, off Shirley Street,
Nassau, Bahamas.

JOHANNESBURG —
Europe and the United States
have failed to strengthen the
institutions responsible for the
global economic crisis, the
IMF said in a report suggesting
the U.S. privatize mortgage
giants Freddie Mac and Fannie
Mae.

The International Monetary Fund
pointed to "weak balance sheets" of
eurozone governments and banks and
said the European bailout fund needs to
be increased from its headline 440 bil-
lion euros.

LONDON — An unexpected con-
traction in the British economy shocked
investors, prompting a sharp drop in
the pound and reigniting debate about
the government's plans to slash spend-
ing and raise taxes to reduce public debt.

The economy shrank 0.5 percent in
the last three months of 2010.

The decline reined in expectations
that the Bank of England would start
raising interest rates soon in response to
stubbornly high inflation levels.

Stocks were also hurt by the news.
The FTSE 100 index of leading British
shares fell 0.3 percent, while Germany's
main DAX index and France's CAC-40
both slipped 0.1 percent.

GLOBAL Economic News

I AT E D

A look at economic developments
and activity in major stock markets
around the world Tuesday:

BRUSSELS — The eurozone's bil-
lion euro ($599 billion) bailout fund
says its first bond auction to finance a
rescue loan for Ireland saw "record-
breaking” demand.

TOKYO — Japan's central bank kept
a key interest rate unchanged at virtu-
ally zero, hoping to protect a still-fragile
economy from veering off track.

Japan's Nikkei 225 stock average
added 1.2 percent.

Elsewhere in Asian trading, South
Korea's Kospi rose 0.2 percent and Aus-
tralia's S&P/ASX 200 gained 0.5 per-
cent.

Hong Kong's Hang Seng index
dropped less than 0.1 percent while the
Shanghai Composite Index fell 0.7 per-
cent.

MADRID — Spain's bor-
rowing costs dropped signifi-
cantly in a heavily oversub-
scribed auction of 2.2 billion
euros ($3 billion) in short-term
debt, a day after the govern-
ment announced reforms for its ailing
savings bank sector.

NEW DELHI — India's central bank
raised key interest rates for the seventh
time in little over a year in an attempt to
contain inflation.

DAVOS, Switzerland — Trust in
business and government worldwide has
been remarkably resilient through the
economic crisis, except in the U.S.,
where it has steeply declined, according
to a survey released on the sidelines of
the World Economic Forum.

DUBAI, United Arab Emirates —
DP World said business jumped 14 per-
cent last year, reflecting the expansion
of the Dubai port operator's global net-
work and a resurgence in trade as the
world economy picked up steam.

NOTICE is hereby given that any person having dower
or right to dower or an Adverse Claim or a claim not rec-
ognized in the Petition shall on or before the expiration of
Thirty (30) days after the final publication of these presents,
file in the Supreme Court and serve on the Petitioner or the
undersigned a Statement of his claim in the prescribed form
verified by an affidavit to be filed therewith.

Legal Notice
NOTICE

Madison Consulting Ltd.

Legal Notice
NOTICE

Naboil Investments Ltd.

Failure of any such person to file and serve a Statement of his
Claim on or before the

expiration of Thirty (30) days after the final publication of
these presents will operate as a bar to such claim.

Notice is hereby given that in accordance with
section 138 (8) of the International Business
Companies Act 2000, the dissolution of
Madison Consulting Ltd. has been completed:
a Certificate of Dissolution has been issued
and the Company has therefore been struck
off the Register

Notice is hereby given that in accordance
with section 138 (8) of the International

Business Companies Act 2000, the
dissolution of Naboil Investments Ltd.
has been completed: a Certificate of
Dissolution has been issued and the Company

has therefore been struck off the Register

Dated the 17th day of January, A.D., 2011

LOCKHART & CO.
Chambers

#35 Buen Retiro Road
off Shirley Street
Nassau, The Bahamas
Alain Kunz

Alain Kunz (Liquidator)

(Liquidator)

Attorneys for the Petitioner



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



Full Text

PAGE 1

N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R Harrowing ordeal of baby Michelo V olume: 107 No.53WEDNESDAY, JANUARY 26, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER CLOUDY, SHOWERS HIGH 83F LOW 66F F E A T U R E S SEETHEARTSSECTION S P O R T S The Hansard building demolition SEESECTIONE Diplomats fly over Falcons By AVA TURNQUEST T ribune Staff Reporter aturnquest@tribunemedia.net A GRAND BAHAMA f amily is desperately seeki ng support for vital rehabilitative treatment for their baby who, before the age oft wo, has survived crippling medical challenges. In the last eight months, 21-month-old Michelo MjM cKenzie Jr has battled p neumocccal meningitis, shunted hydrocephalus, cortical blindness, partial paralysis and hearing loss all of which doctors attribute to a previously undetected blood disorder. Buckling under the weight of mounting medical expenses, Michelo McKenzie Sr, 34, told The Tribune of his sons harrowing ordeal which has retarded his development to that of a three-month-old infant. Mr McKenzie Sr said: It was a situation where no one knew he was sick, no one knew he had sickle cell a nemia, everything just c ame after he had his vacci nation shot. Everything just went haywire from there. Born a thriving and healthy baby boy, Mj first began exhibiting signs of ill ness last May after he r eceived his first year vacci nations. Due to an unrelenting fever which lasted five days he was admittedt o the Rand Memorial Hos pital where they ran a series of tests, including a spinal tap. Results uncovered that little Mj had contracted a bacterial form of meningi tis, a disease for which treatment time was typically 14 days. Mr McKenzie said: We were dumbfounded. He was hospitalized for 25 days and during that time he had four seizures and three blood transfusions. He lost his sight, his hearing, and was paralysed on the left side of his body. Meningitis is an infection to the brain so Family seeks fundraiser for mounting medical expenses M cCOMBO O F THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM BAHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E SEE page nine By TANEKA THOMPSON T ribune Staff Reporter tthompson@tribunemedia.net P OLICE suspect attorney Dennis Gomez was murd ered during an attempted robbery gone wrong. Assistant Commissioner o f Police Glenn Miller told The Tribune that Mr Gomez w as shot after one of two assailants, who approached him outside his law office early Saturday morning, silently ordered him into his car at gunpoint. M r Gomez, 57, resisted and struggled with the gunman, who then shot him sev eral times. It seemed to be an a ttempted robbery, there is nothing to suggest anything other than that at this point.T hey ordered him in the car, but he refused and he strug gled with the men and then shots were fired," Mr Millers aid yesterday. The two assailants fled the area on foot, said Mr Miller. Mr Gomez, brother of C omptroller of Customs Glenn Gomez, and husband SEE page nine By DENISE MAYCOCK T ribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT: A verdict in the Andre Birbal sex trial could be expected today after Justice Hartman Longley gives his summation to the jury. After hearing final arguments from the Crown and the defence yesterday, Justice Longley decided he would address the jury this morning. The former art teacher is charged with eight counts of unnatural sexual intercourse with two minors. It is alleged that Birbal had sex with a male student at the Eight Mile Rock High School between January 2002 and June 2007. It is also alleged he had sex with a second male student between September 2002 and December 2005. The young men testified that their art teacher had sex with them in his classroom during school hours, at his apartment, and other places. They also testified that Bir bal took nude photographs of them. Birbal, a Trinidadian, taught art design and com puter aid design at the Eight SEE page nine POLICE SUSPECT ATTORNEY KILLED IN ATTEMPTED ROBBERY GONE WRONG ANDRE BIRBAL SEX TRIAL COULD SEE VERDICT T ODAY By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net BAHA Mar has received up to 800 job applications on behalf of general contractors working on the new Commercial Village and the rerouting of West Bay Street. Although Baha Mar Resorts Ltd is not the general contractor on the $2.6 billion project, Robert Sands, vice-president of external affairs, said the company is assisting contractors by providing a bank of potential candidates for screening for hire. Mr Sands confirmed receipt of 300 applications from Grand Bahama tradesmen, and a list of about 1,500 names from the Ministry of Labours skills bank. Dion Foulkes, Minister of Labour, told The Tribune yesterday, the government is very excited about the developments at Baha Mar and SEE page nine ASSISTING CONTRACTORS: Robert Sands HARROWINGORDEAL: 21-month-old Michelo Mj McKenzie Jr with his father Michelo McKenzie Sr. UP TO 800 JOB APPLICATIONS RECEIVED BY BAHA MAR

PAGE 2

LAST week Wednesday, the Royal Bahamas Police Force initiated Operation Rapid Strike in several high crime areas. Their efforts netted 14 suspects on the first night. The Tribune's student interns from Bahamas Academy hit the streets of Nassau yesterday to find out how Bahamians felt about the RBPF's latest crime-fighting strategy. LOCAL NEWS PAGE 2, WEDNESDAY, JANUARY 26, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ROBERT Paul Bower died after a long ill-n ess, peacefully at his home on Cable Beach in the early hours of Monday, January 24. Mr Bower was born in K ent, England, on November 2, 1924, the only son of Commander Robert Tatton Bower, RN, MP, and the Hon Henrietta Bower. Paul is survived by his w ife Ericka; sons Bobby Bower and Nigel Bowe r; daughter Victoria Blackman-Aumonier; son-in-law AlcyA umonier, daughtersin-law Kay Bower and L ora Bower, grandsons Dominic Bower, Axiom Blackman and NicholasB ower; granddaughters Daniella Bower, Aimee Blackman and Morgan Bower; sisters Anne Doyne-Ditmus, Mar-g aret Kelly, Marianna Viscountess Monckton of Brenchley, ElizabethW ainwright, Veronica Slocock, Mary Cox, M onica de Salis; brothers-in-law Ian Cox, Bernard de Salis andM ichael Wainwright; many nephews and n ieces and faithful f riends here and abroad. A funeral service is to be announced. PAUL BOWER DIES AFTER LONG ILLNESS INSIGHT F or the stories behind the news, read Insight on Mondays OPERATION RAPID STRIKE What do you think about it? ASTON BRAYNEN, BANKER T ALK STREET CAROLYN PEDICAN, BARTENDER, ABACO CARSON HEPBURN, SECURITY M ARGARET SMALL, POLICE DEPARTMENT PHILIP HILTON, ATTORNEY STEPHEN PLAKARIS, FISHERMAN TALLS, CONTRACTOR PEDRO JOHNSON, STORE MANAGER They n eed to capture more criminals." It's about time they started to t ake control on the country, we s houldn't have to wait until the country deteriorates in order to see improve-m ent. They do a good job but they c ould do better." The commissioner is doing a n excellent job; we will see p rogress. Why should we be unsafe? I look forward to not havi ng to lock my car and carry my e mpty purse." The police only judging books by c over. They must look on the inside of a man. They are only interested inr acial profiling." S omething like the R apid Strike was l ong overdue and needed t o be done from the b eginning. We need to e nforce groups such as t he strike force. On this n ote, I give the police f orce credit for the Rapid S trike." T he Rapid Strike is good; it is better to d o something than nothi ng. It is never too late for pr o gr ess." T he p olice for c e must k eep it up and be consistent." T he Rapid Strike w as long overdue. T he crime rate is out of h and and the only way t hat we can clear crime is f or the police force to t ake charge."

PAGE 3

A MAN sentenced to 20 years imprisonment on an attempted armed robbery charge was granted an extension of time yesterday to appeal his sentence and conviction. Bradley Saunders, 24, was convicted and sentenced last November for the attempted armed robbery of Joan Algios. Saunders was in the Court of Appeal yesterday, where his request for an extension was granted. His appeal is expected to be heard on March 14. He is represented by attorney Donna Major. Saunders stood trial with 20year-old Ebenezer Sherman, who was convicted and sentenced to 25 years in prison for the attempted murder of Algios friend, New Jersey police officer John Casper on May 14, 2008. Sergeant Casper was shot in the chest while walking with friends on the Cable Beach strip in the area of Ruby Avenue, not far from the residence of former prime minister Perry Christie. Mr Casper was vacationing in Nassau at the time, and was attempting to prevent an assailant from snatching Mrs Algios' handbag when he was shot. LOCAL NEWS THE TRIBUNE WEDNESDAY, JANUARY 26, 2011, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By CELESTE NIXON Tribune Staff Reporter cnixon@tribunemedia.net ACTUAL work is imminent on the Baha Mar project, according to the VP of external affairs for the highly anticipated development. Robert "Sandy" Sands said construction of the single-phase $2.6 billion project should begin the second or third week of February. We have just about completed all legal work for ground breaking, said Mr Sands. He said they are currently in the process of co-ordinating schedules for special guests to make sure they can all arrive at the same time. Mr Sands added: It is very likely that work will start prior to the ground breaking date. Actual work will be imminent. Hopes are high that the mega-project will provide tremendous economic benefits for the Bahamas, creating thousands of permanent jobs and numerous opportunities for contractors and construction workers. It is thought that the project will create 4,000 jobs during the construction phase. Some $400 million in work packages has been designated for Bahamian contractors. In a previous interview with The Tribune, Mr Sands said the development will contribute $14.8 billion to the Bahamas' Gross Domestic Product over 20 years, and generate $500 billion in incremental government taxes over 25 years. Tribune sources say clearing work near the site of the old Nassau Beach Hotel on the Cable Beach strip has already begun. It is thought this may be the site of the ground breaking ceremony. By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net A 24-YEAR-OLDman was arraigned in Magistrates Court yesterday, charged in the murder of an Eleuthera man whose body was found inside a barrel. John Deieur, alias File YFodra, of Hatchet Bay, Eleuthera, stands accused of killing Alice Saintilam, 65. It is alleged that Deieur intentionally caused Saintilmas death between January 15 and 19. The body of Saintilam, of Cambridge Street, Hatchet Bay, was found in a barrel on a track road. Deieur was not represented by an attorney yesterday during his arraignment before Magis trate Ancella Williams in Court 6, Parliament Street. When asked whether he understood the charge against him Deieur told the magistrate, I didnt kill him. He was told that he was not required to enter a plea to the murder charge but stated, I am not guilty. Deieur was ordered to be remanded to Her Majestys Prison. The case was adjourned to Court 10, Nassau Street. Deieur is expected back in court on January 31. By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net EIGHT murders rocked the Family Islands last year, with the greatest concentration in Abaco and Bimini, according to statistics released Monday as part of the polices year in review. Despite the existence of violent crime, the Family Islands are very safe and secure, said Willard Cunningham, assistant commissioner of police for the Family Islands. I wish to say that the Family Islands are very safe and secure and this is due in large part to the excellent police and community relationships throughout the Commonwealth of the Bahamas, said Mr Cunningham. The community continues to assist the Royal Bahamas Police Force with regards to all offences by giving tips and information, which has led to solving a significant number of these crimes, he said. Only one of the eight murders recorded in the Family Islands remains unsolved, according to the police. There were two murders in Abaco and two in Bimini; there was one murder in Andros, Exuma, Long Island and Inagua. In each instance, the Family Island commands received assistance from Central Detective Unit (CDU cers, who travelled from New Providence. Extra manpower from New Providence was also called in last year for major regattas, homecomings and festivals. As a result, Mr Cunningham said, there were no serious incidents at any of these events. He highlighted the support from residents and their good citizenship during these events. Despite some crime problems, like the spate of burglaries late last year in Harbour Island, there was a reduction in house and shop break-ins, burglaries and armed robberies in the Family Islands last year, said Mr Cunningham. In the case of Harbour Island, a crime-fighting initiative between local police and CDU helped to clamp down on the problem. Local police arrested five people in connection with the holiday break-ins, including a juvenile, who was charged with eight counts of burglary and stealing. In an effort to increase awareness among residents, police officers participated in numerous walk-abouts, community meetings, church visitations and school visits. These were all in an effort to reduce the fear of crime and at the same time provide safety tips for the community at large, said Mr Cunningham. This year, Family Island residents can expect aggressive stop-and-search initiatives to continue, as the police seek to crack down on road traffic infractions. The objectives of the Royal Bahamas Police Force is to reduce the fear of crime within the communities, ensure that crime is minimised and strengthen relationships with other government agencies and community partners. We the members of the Royal Bahamas Police Force in the Family Islands will redouble our efforts in 2011 in the fight against crime; as together we strive to make the Bahamas a safer place to live, work, visit and play, he said. POLICE are hunting for an armed carjacker who escaped capture in the area of East Street South on Monday night. Press liaison officer Sergeant Chrislyn Skippings said police were called to the scene of an armed robbery at Gibbs Corner around 9.15 pm. Officers were told that during the robbery a victim's car was stolen. Police issued an allpoints bulletin and officers on mobile patrol were able to intercept the stolen vehicle in the area of East Street South. Sgt Skippings said police recovered one 9mm pistol and 18 live rounds of ammunition. However, the suspect jumped out of the stolen vehicle and escaped. "An intense search is underway to locate the suspect in this matter," said Sgt Skippings. Meanwhile, police arrested a Carmichael Road man after officers found a .40 Glock pistol and 12 live rounds of ammunition in his home. Police executed a search warrant at the home around 7.30pm on Monday. The man is expected to be charged in the Magis trate's Court sometime this week. By MEGAN REYNOLDS Tribune Staff Reporter mreynolds@tribunemedia.net A DOCUMENTARY about the human impact of a devastatingly high murder toll made by Abaco filmmakers Loggerhead Productions has been released on their new video website Conch Salad TV this week. The seven minute piece Marching for Justice by Matthew and Lindsey McCoy,of Hope Town, Elbow Cay, breaks down the brutalising record of 96 murders last year, that is 30 per 100,000 residents, and focuses on the relatives of those who were killed and marched through the streets of Nassau crying out for justice. Workers Party leader and activist Rodney Moncur has been organising marches to call for murderers to be hanged and the murder accused denied bail since his cousin Khodee Davis was fatally stabbed in May 2008 near Cabbage Beach on Paradise Island. Mr and Mrs McCoy followed two of these marches, at which hundreds of Bahamians lent their support, but also spoke to relatives of the mur dered in depth. The film features emotional interviews with family mem bers, including a brother of Leonard Johnson, 21, who was stabbed at the Evangelistic Church Temple construction site in Collins Avenue, and Ragged Island church minister Marjorie Wallace, whose granddaughter SheAnda Newton, 17, was slain and dumped in an overgrown area off the Charles Saunders Highway. Everyone understands that the murder rate is high, Mr McCoy said. But the human element of the story seems to be lost in the bigger picture of anarchy. We just want to put the real human element out there, and maybe start a conversation about whats going on and what the solutions are. As well as posting the video, the couple created a website where grieving families can post words and pictures in tribute to the murdered. People said they didnt want their brother or their son to be forgotten, Mrs McCoy said. So we created the website separately because we wanted some place to preserve their memory and their story. Mr and Mrs McCoy hope bereaved families and friends will embrace the website Bahamas Remembers, as they continue their work to build a diverse range of videos for Conch Salad TV. Since launching the video website with a lively conchcracking contest on December 1, Loggerhead Productions have posted their Bahamas International Film Festival fea tured documentary The Lion fish Invasion, funded by Friends of the Environment, and now Marching for Justice. Future film plans include an archaelogical exploration in Abaco, and a political satire. To see Marching for Justice and other films log on to www.conchsaladtv.com, and pay tribute to the murdered at www.bahamasremembers.com. CHARGED: 24-year-old John Deieurappeared in court yesterday. T im Clarke / Tribune staff POLICE HUNT FOR ARMED CARJACKER Family Islands safe and secure despite eight murders in 2010 Man gets extension to appeal 20-year sentence, conviction MAN CHARGED WITH BODY IN BARREL MURDER Documentar y f ocuses on the human impact of murder toll Actual work imminent on the Baha Mar pr oject BEREAVED FAMILIES marching for justice.

PAGE 4

EDITOR, The Tribune. I t took a while to digest what was being put forth in the interview of Atlantis CEO, Mr George Markantonis. He had a lot to say about what he expected from the Government of theB ahamas, but the context of his demands had more to do with the impact those demands would have on the B ahamian people. He uses the word reform very loosely but what he is talking about is a radical liberalisation of the gambling l aws in the Bahamas. The tone of the interview suggested that this was a decision the Government could make on its own, and there was a kind of imme diacy that gave me the impression that the CEO was more concerned about ongoing profitability, but this is a matter that will be decided by the Government and the people of the Bahamas. The interpreta tion of what was said, required a word study. Reform means one thing and liberalisation means something else and we usu ally take our cues from theologians and religionists as we try to make sense of these words in every day life, but one rule is supreme, you have to find the context. I have not seen the report that the Minister of Tourism is presenting next month, but knowing what was disc ussed in the past and the boundaries of the current legislation, I can take a wild g uess and speculate that those recommendations in t hat report will focus on the i ssue of Bahamians being able to gamble anywhere in the Bahamas. Personally, I have a prob lem with gambling in the Bahamas, but the decision on the issue of liberalisation should not be driven by the fact that Atlantis is fearful of the competition that will come from Jamaica. The bottom line is that anticipated losses of Atlantis will be made up for by the government affecting legislation that will allow Bahamians to gamble over the bridge and if this is what the deal is, it is no deal at all. We will be paying with some money that we cannot afford to spend. If the gambling laws are amended in this regard, then Atlantis will truly be the largest employer in the Bahamas. As a precaution, the Gov ernment has to regulate what is going on with gam b ling, locally, if just to avoid t he hypocritical backlash that is sure to follow if lib eralisation happens. It will b e much easier to reform o r liberalise since both sides of the gambling spectrum are regulated and then at that point the citizens of the nation decide. The sticking point being that the Bridge allows for two way traffic, since gambling over the hill is just as lucrative as gambling on Paradise Island or Cable Beach can be just as lucra tive as gambling in Nassau. Every time the Prime Minister has a chance to take a breather, it seems like something comes up, and this issue has referendum written all over it. Our laws on gambling may need change, adjustment or liberalisation, but it must not be done because someone is having a problem with their bottom line. EDWARD HUTCHESON Nassau, January 25, 2011. EDITOR, The Tribune. The Bahamas Parliament r ecently debated amendments to the Business Licence Act in an effort toi ncrease revenue as a result of the governments precario us financial position. In the process, some businesses were granted lower tax ratest han others. Mr. Ryan Pinder, MP for Elizabeth, wondering whyg overnment chose to lower the tax for certain businesse s, claimed they were generally supporters of the FNM" and this was public p olicy for special interest groups. (The Tribune, T hursday, January 20, 2011) Of course special interest politics, if that's what we'res eeing here, is nothing new. A s Dr. Steve Horwitz points out recently in The Freeman "...all political officials g ain from providing benefits to the private sector, hoping d ifferent politicians and bureaucrats will do better is just rearranging the deckc hairs on the Titanic." Mr. Pinder confirms this when he is quoted as saying: "Enough with the catering to special interests. An alterna-t ive would be for a reduced business license fee for small, growing companies..." etc, e tc. In other words, the spe c ial interest group that should get the benefits using t he power of Government should be chosen by Mr. P inder and not the current Minister of Finance. If it is all special interest p olicymaking, they're both wrong. This then begs the q uestionif any government has the right to dig into taxpayer wallets whenevert hey've borrowed and spent the country into a difficult spot like the world recessionh as highlighted. If only for future generat ions, politics should be more than a fight to deter mine who gets the privilege t o grant government favours at taxpayer expense? THE NASSAU INSTITUTE w ww.nassauinstitute.org EDITORIAL/LETTERS TO THE EDITOR PAGE 4, WEDNESDAY, JANUARY 26, 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 T ELEPHONES Switchboard (News, Circulation and Advertising A dvertising Manager (242 C irculation Department (242 Nassau Fax: (242 W EBSITE www.tribune242.com updated daily at 2pm WASHINGTON Before modern weight loss fads, there was William Banting. He invented the low-carb diet of 1863. Even thenA mericans were trying out advice that urged fish, mutton or "any meat except pork" forb reakfast, lunch and dinner hold the potatoes, please. I t turns out our obsession with weight and how to lose it dates back at least 150 years. And while now we say "overweight" instead of "corpulent" and obesity has become epidemic a look back at dieting historys hows what hasn't changed is the quest for an easy fix. We grossly, grossly underestimate" the difficulty of changing behaviours that fuelo besity, says Clemson University sociologist Ellen Granberg, who examined archives at t he Library of Congress. She believes it's important to show "we're not dealing with some brand new, scary phenomenon we've never dealt with before." Indeed, the aging documents are eerily f amiliar. Consider Englishman William Banting's a ccount of losing almost 50 pounds in a year. He did it by shunning "bread, butter, milk, s ugar, beer and potatoes, which had been the main (and I thought innocent my existence" in favour of loads of meat. His pamphlet, "Letter on Corpulence, Addressed to the Public," quickly crossed the A tlantic and become so popular here that "banting" became slang for dieting, Granberg s ays. While obesity has rapidly surged in the l ast few decades, we first changed from a nation where being plump was desirable intoa nation of on-again, off-again dieters around the end of the 19th century, Granberg says. Before then, people figured a little extra w eight might help withstand infectious diseases that vaccines and antibiotics later would t ame. It also was a sign of prosperity. But just as doctors today bemoan a high-tech, immob ile society, the emergence of trolleys, cars and other machinery in the late 19th century scaled back the sheer number of calories people once burned, Granberg explains. Increas ing prosperity meant easier access to food. An excess of flesh is to be looked upon as one of the most objectionable forms of dise ase," the Philadelphia Cookbook declared in 1900. Low-cal cookbooks hadn't arrived yet; t he calorie wasn't quite in vogue. By 1903, La Parle obesity soap that "never fails to reduce flesh" was selling at a pricey $1 a bar. The Louisenbad Reduction Salt pledged to "wash away your fat." Soon camea n exercise machine, the Graybar Stimulator to jiggle the pounds. Bile Beans promoted al axative approach. As the U.S. government prepares to update U.S. dietary guidelines n ext week, the Library of Congress culled its archives and, with Weight Watchers Interna tional, gathered experts recently to discuss this country's history of weight loss. Granberg recounted how real nutrition s cience was born. The government's first advice to balance p roteins, carbohydrates and fat came in 1894. A few years later, life insurance companies r eported that being overweight raised the risk of death. In 1916, the Department of Agri c ulture came up with the five food groups. Around World War II, charts showing ideal weight-for-height emerged, surprisingly closeto what today is considered a healthy body mass index. D iet foods quickly followed, as did weight loss support groups like Overeaters Anony m ous and Weight Watchers putting today's diet infrastructure in place by 1970, Granberg s ays. Yet fast-forward and two-thirds of Americans today are either overweight or obese, and childhood obesity has tripled in the past three decades. Weight-loss surgery is skyrocketing. Diet pills have been pulled from t he market for deadly side effects, with only a few possible new ones in the pipeline. M ore and more, specialists question how our society and culture fuel overeating. Should it be socially desirable to walk down the street with a 30-ounce Big Gulp" drink ? asks Patrick O'Neill, president-elect of The Obesity Society and weight-management director at the Medical University of South C arolina. Negotiating a weight-loss menu for a fam i ly with different food preferences is a minefield that affects how people feel about thems elves and their relationships with loved ones, adds Clemson's Granberg, who began study ing the sociology of obesity after losing 120 pounds herself. "If what you need is a nutritionally sound, h ealthful weight-loss plan, you can get 100 of them," she says. "That, we have figured out in t he last 100 years. It's how to do all this other stuff that I think is the real challenge." ( This article was written by Lauran Neer gaard, AP Medical Writer). Politics a contest for government favours? LETTERS letters@tribunemedia.net 150 years of dieting fads and still no quick fix Gambling laws must not be changed because someone is having problem with bottom line

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ByKHYLE QUINCY PARKER Press Attach Embassy of the Bahamas WASHINGTON, DC T he Bahamas signed an a nti-gun co-operation agreement with hemis pheric partners on Tuesd ay which will make it possible for firearms to be m arked and tracked. T he agreement, Prom oting Firearms Marking in Latin America and theC aribbean will give local l aw enforcement agencies access to the training and equipment needed to make gun tracking possible. Ambassador Cornelius Smith, permanent repres entative of the Bahamas t o the Organisation of A merican States (OAS c alled the project very i mportant for [The B ahamas] because we have become a transit point for drugs and small arms. The marking of firearms helps us identify the weapons that have b een used in criminal activity, and therefore helps to combat crime in t he region, he said. O ther parties to the coo peration agreement are: the General Secretariat of the OAS (GS/OASt he governments of Costa Rica, Paraguay and Uruguay. These are the first coun t ries to sign such an agreement in the framework of the Inter-American Con v ention against the Illicit M anufacturing and Trafficking in Firearms, A mmunition, Explosives a nd Related Materials ( CIFTA). CIFTA posits that marking firearms helps combat illicit gun trafficking as ita llows authorities to identify seized weapons to determine their origin. T hrough this agreement, the OAS aims to strengthen national capacities in illicit firearms traffickinga nd provide marking e quipment and training to b eneficiary countries. In accordance with the p act, the OAS agreed to p rovide a marking m achine and accessories to the Ministry of National Security and provide training in the use of thise quipment. These assets, once delivered, will become thep roperty of the government of the Bahamas. The Bahamas, in turn, is obligated to provide theG S/OAS with information o n the countrys capacity a nd needs with respect to firearms marking, recordi ng and tracing. T he Bahamas also a greed among other things to co-operate with the GS/OAS on follow-up missions and to mark ana verage of 100 firearms per month for the first 12 months after receiving them achine. During the signing ceremony, OAS Secretary General Jos MiguelI nsulza affirmed the o rganisations intent to develop and strengthen national capacities of thec o-operating countries to combat illicit-arms traf ficking through: advice on the development of modell egislation, exchange of best practices, gathering and analysing statistical information, and offeringt echnical assistance. Representatives of the g overnments of Costa R ica, Paraguay and Uruguay also called for g un crime to be conside red a major scourge that m ust be faced by every nation. The project is being funded by the UnitedS tates. US permanent representative, Ambassador Carmen Lomellin, encour a ged OAS member states to continue implementing measures to combat this scourge. Concrete steps by indiv idual countries and col lective steps by regional and international organi-s ations can go a long way through combating arms trafficking, she said. A FINAL tally of l ast years tourism stat istics will likely show that 2010 was the year the Bahamas received its highest number of visitors. T ourism Permanent S ecretary Hyacinth Pratt made this state-m ent at the Cacique A wards mass at St Barnabas Anglican Church last Sunday. Addressing the congregation, Ms Pratt said it is only the second time in hist ory that the Bahamas r eceived more than f ive million visitors. Spending M ost of the visitors were cruise passengers, and the ministry i s now looking to attract more stopover visitors, who tradit ionally are higher spending visitors, she s aid. The church service served as a national c all for personal and professional improvem ent in the tourism sector. As industry repres entatives attended the service before the Cacique Awards areh eld on Friday, Canon Basil L Tynes focusedon the need for posi tive change in thec ountry. He said Bahamians must look for divine assistance as they seek to bettert hemselves and their competitive position. I want to challenge y ou all in tourism like t he rest of us, stop looking at the chal lenges of the situa tion. Stop looking att he darkness of the hour, he said. Development Canon Tynes said the Ministry of Tourism and Aviation cannot continue to do the same things if it is to remain on the cut ting edge of developments. Some of you have to change, he said. Ms Pratt said the ministry is moving to improve business by reorganising and making several positive changes. At the moment, she said, teams have been assembled within the ministry to make steps toward reinvigorating the visitors experience and many other areas. While the high visi tor numbers are something to be celebrated, Ms Pratt saidwe still must improve on many aspects of our product and ser vice to keep our visi tors satisfied. While we are busy attracting millions of visitors, we must also be busy giving them the type of service and experiences that will sustain our busi ness. The Cacique Awards will be held at the Rainforest The atre, Wyndham Nas sau Beach on Friday at 8pm. The awards, which are designed to honour and encourage top performers in tourism and related areas, will bestow Duho trophies on winners in 18 categories. LOCAL NEWS THE TRIBUNE WEDNESDAY, JANUARY 26, 2011, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM %2$7IRU$/('RQ]LZHHW THE BAHAMAS VERYOWNSTREETPHILOSOPHER STATISTICS LIKELY TO SHOW 2010 HAD MOST VISITORS Bahamas signs agreement to see firearms tagged and tracked REPRESENTATIVES from the Bahamas, Costa Rica, Paraguay, Uruguay, the US and the OAS General Secretariat signed a joint co-operation agreement aimed at increasing the ability of law enforcement to track light arms to their point of origin. Photo/OAS

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L OCAL NEWS P AGE 6, WEDNESDAY, JANUARY 26, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By BETTY VEDRINE TWO scholarships and p ossibly a third will be available to Bahamians wishing to pursue an education in Egypt. The scholarships one in agriculture and the other in the Arabic language a re being offered by the E gyptian government. The third scholarship, which is currently not yet confirmed, would be in tourism. T he announcement was m ade on Monday during a c ourtesy call on Education M inister Desmond Bannist er by Assistant Foreign M inister for the Americas El Husseini Abdelwahab and Egyptian Ambassadorto the Bahamas (stationed in the Republic of Cuba) Tarek Elwassimy. The Egyptian delegates h ope to form partnerships w ith the various government sectors in order to f acilitate the scholarships. The meeting was held at t he Ministry of Education on East Street South. Mr Bannister welcomed t he Egyptian delegates and thanked them for their generous gift. We are very pleased to have you here in the Bahamas and pleased tohear that there are possib ly some opportunity availa ble for Bahamians wish i ng to pursue higher education in your country, them inister said. M r Abdelwahab said he was delighted to be in the Bahamas for the secondt ime. It gives us great plea sure to be in the Bahamas our second time for both o f us, he said. The first time as a tourist and now a s an official trying to prom ote our relationship with your country. M r Bannister added that the scholarships would give B ahamians the opportunity to be exposed to anotherc ulture. As you know, education bridges gaps we sometimes dont perceive to be there. We are grateful for these opportunities and hopefully students from your country would also w ish to pursue education a nd other cultural exchanges available in our c ountry, he said. T he delegates also paid v isits to the Minister of Foreign Affairs Brent Symonette; Minister ofY outh, Sports and Culture C harles Maynard and the Minister of Tourism andA viation Senator Vincent V anderpool-Wallace. MORE than 40 distinguished presenters from around the world are set to deliver papers at the International Society of Family Law regional conference in March. Presenters will be jurists, legal scholars, psychologists, social workers and educators from the Caribbean, Canada, the UK, the US, Ger many, Sweden and Serbia. Among them will be Lord Justice Matthew Thorpe from the Court of Appeal of England and Wales; Justice Nancy Flatters from the Calgary Family and Youth Court in Alberta, Cana da; Professor Dr Jane Adolphe of Ave Maria Law School, an expert in family law, international law, criminal law and canon law, who has acted as the delegate for the Holy See at various regional and international conferences; and Professor Dr Bill Doherty of the University of Minnesota, an educator, researcher, writer, therapist and media personality. The theme of the conference is the legal and social consequences of the disintegration and reintegration of families. Matters to be discussed include: marriage and divorce, cohabitation, property distribution, mediation, paternity and inheritance; transracial, intercountry and same-sex adoption; assisted reproduction and ethical issues, child development, international child abduction, juvenile delinquency, domestic violence, human rights and the family and same sex marriages. Participants have been urged to take advantage of the discount for early registration. The planning committee announced that early bird registration will save participants $50, as from February 1, the cost will increase from $350 to $400. The statement said the registration fee includes conference materials, breakfast, lunch and snacks. The conference will take place from March 17 to 19 at the British Colonial Hilton Hotel. It is being hosted by the Eugene Dupuch Law School. Registration forms are available on the conferences website: http://www.law2.byu.edu/isfl/2011bahamasconf. On the morning of March 17, there will be a pre-conference Judges Forum on Judicial Dispute Resolution conducted by Justice Flatters and a simultaneous Students Forum conducted by Dr Leighton Jackson of UWI Faculty of Law in Jamaica, Tracy Robinson of UWI Faculty of Law at Cave Hill and Lord Justice Thorpe. Participants will benefit from an attractive rate from the conference hotel and a discounted airfare from American Airlines. Attractive tours to scenic tourist sites, including Atlantis on Paradise Island have been planned, the planning committee said. GOVERNOR-General Sir Arthur Foulkes welcomed to Government House on Monday students of Henderson College who completed the Heritage Site Certification Course for the Bahamas in Partnership with the United States National Park Pro gramme. Pictured left to right seated: Dr Ann Higgins; Dr Rita Pratt, president of Henderson College; Sir Arthur; Gladys Johnson-Sands, former Con sul General. Standing: Alecca Ramsey, Clifton Heritage National Park; Craig Mortimer, special projects, Ministry of Tourism; Asa Thompson, Clifton Her itage National Park; Vernita Pratt, Clifton Heritage National Park; Eden Zonicle, Cat Island; and Madelyn Turnquest, grounds supervi sor, Clifton Heritage Nation al Park. Derek Smith/BIS Egypt offers scholarships to Bahamians PICTURED FROM LEFT TO RIGHT: Deputy Director of Education Patricia Collins; Director of Education for Higher Learning Dr Leon Higgs; Permanent Secretary to the Ministry of Education Elma Garraway; Assistant Foreign Minister for the Americas El Husseini Abdelwahab; Education Minister Desmond Bannister; Egyptian Ambassador to the Bahamas, Tarek Elwassimy and Director of Education Lionel Sands. ASSISTANT FOREIGN MINISTER for the Americas El Husseini Abdelwahab and Egyptian Ambassador to the Bahamas Tarek Elwassimy p ay a courtesy call on Minister of Education Desmond Bannister at the Ministry of Education. Pictured left to right: Minister Bannis ter, Mr Abdelwahab and Mr. Elwassimy. Bahamas to host International Society of Family Law regional conference S TUDENT S WEL COMED TO GOVERNMENT HOUSE

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I N THE face of i ncreased suicides and attempted suicides in the Bahamas, the Department of Social Services is asking corporate sponsors to help keep the recently e stablished depression telephone hotline going. T he national hotline was s et up in December to h elp individuals having t rouble or feeling overw helmed to deal with their i ssues. Twenty trained counsellors are available 24-hoursa day to help persons with any problems they are facing, and those individuals needing more counselling a re referred to the Comm unity Counselling and Assessment Centre, said Mavis Darling Hill, deputy director of Department of S ocial Services during an interview at her office last Friday. The hotline is a joint initiative between the Government and the accounti ng firm Grant Thornton B ahamas; it was officially launched by Minister of L abour and Social Develo pment Senator Dion F oulkes. The deputy director said s he was approached in A ugust or September 2010 by Andy Paul Gomez, managing partner of Grant Thornton Bahamas, after he became concerned over t he number of persons committing or attempting to commit suicide; persons having difficulties handling their problems or struggling with being unemp loyed. T he accounting firm has handled all the expenses t hat have been incurred s ince the initiative began, s he said. Grant Thornton starte d the initiative and we a re very grateful to them, Mrs Darling Hill said. However, it can be e xpensive just for one corp oration to take this service on; it really is an unselfish deed. Although, Mr Gomez has been in talks with another firm to take over t he expenses starting in February, the ministry is a lso asking other corpor ate sponsors to come o nboard. M rs Darling Hill said p ersons believe that once t hings are going well for them, the problems or dilemmas affecting others are not their concern. However, our lives are intertwined and we ought to realise that if an indiv idual is having a difficult t ime, his or her children might be affected as well, a nd that is where the probl em comes into play. That i s where we get lots of p roblems with crime. Parents are upset and n ot able to cope properly o r adequately, and so it is t ransferred to their children who feel that the system is not being very kind to them. So they get to the point where they are constantly angry, not under standing why there theya ngry and they strike out at society, she said. So we are asking busin ess houses throughout t he Bahamas to come forward and assist. Mrs Darling Hill also reminded the public thata ll calls to the hotline are confidential. S he noted that some p ersons have been very forthcoming, while others have been very hesitant to give information that could lead to further assistance. S he said family, friends, colleagues, and acquaint ances of persons having p roblems should encoura ge them to utilise the serv ice, but if they keep m eeting resistance, and t he situation seems dire, then the concerned persons should call the hotline to receive help on how else to proceed. Dr Kirk Christie, a psychiatrist at the Sandilands R ehabilitation Centre, is c onducting sessions with the counsellors to keep t heir skills sharp, she said. M rs Darling Hill t hanked the other partners o f the programme includ i ng the Bahamas Telecomm unications Department, w hich has been supplying t he cell phones, and the police who lend their assistance when callers need immediate attention as the counsellors cannot go to a scene for themselves. We do not want to lose a life because someone is having a difficulty. There is always a solution and t hat is what we are trying t o preach here, she said. Anyone experiencing difficulties, stress, depression or suicidal thoughtsi s asked to call the hotline at 322-2763. LOCAL NEWS THE TRIBUNE WEDNESDAY, JANUARY 26, 2011, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By SIMON LEWIS THE Department of Immigration still does not have a handle on the backlog of citizenship applications, but is workingt hrough them as quickly as possible, Deputy Prime Minister and Minister of Foreign Affairs Brent Symonette said dur i ng his visit to Freeport last week. M r Symonette was in Grand Bahama to welcome 16 new Bahamian citizens, one of whom was born in the Turks and Caicos Islands and has been living in theB ahamas for some 56 years. The Foreign Affairs Minister said that they are trying to clear up the back log ofp ersons applying for citizenship and that he tries to come to Grand Bahama on a regular basis to take part in the swear ing-in ceremonies. H e said there are a number of persons b orn in the Bahamas who have lived here all their lives, went through the school system, and they obviously have a senseo f frustration that they dont have citi zenship. They feel they are Bahamian, they k now our symbols, they are a part of our c ommunity. So for those persons who have been here for a long time and meet the requirements, we are trying to swear them in so they become citizens, he said. With respect to the Immigration Board, the Deputy Prime Minister said it meets every Monday in Nassau and that he tries to meet with the board in Grand Bahama once a month. Agenda He noted, however, that occasionally the board in Grand Bahama would fax an agenda down to Nassau for approval, particularly the urgent ones. He said part of the problem regarding timely granting of work permits is largely the Immigration Department is still man ual but once it comes fully into the electronic system, there should be a turnaround. Mr Symonette said he recently toured the new government complex under con struction on the Mall in Freeport, and that the contractor, Fletcher McIntosh, is on time with his work. The Department of Immigration is looking forward to relocating from its current location. If any of you have toured the back offices of Immigration, I really admire those persons who work under those conditions, so we hope in August/September to be in the new offices and that should give them a new environment to work in, he said. Focusing on unemployment, the minister brought up the mindset of some Bahamians with respect to certain jobs. He noted the number of foreign persons working at Sanitation Services and the few Bahamians taking advantage of the opportunities to be maid and gardeners. Mr Symonette also advised that his min istry has started a new electronic work permit, a companion project with the Passport Office. He said the card will be computer generated with all the information regarding the holder, eliminating much of the ques tioning process when it's time for renew al. He said this will apply for work visas, permanent residents and more. This process has already started in Nassau. The Foreign Affairs Minister added that he also took a look at the Passport Office, which will be re-located to the new build ing when completed. Passports He said that during 2010, the Depart ment in Grand Bahama issued some 8,800 passports. He feels that they are doing well and have ironed out most of the kinks. During his two-day visit to Grand Bahama, Mr Symonette met with 13 exec utives from several major companies, including Grand Bahama Power, Grand Bahama Ship Yard, Pharmachem and Our Lucaya Resort during his two-day visit to the island. He also met with two top executives from the Professional Engineers Board as well as addressing participants attending the International Business and Finance Summit held at the Our Lucaya Resort January 21 23. POLICE are on the lookout for Shawn Feaster who is wanted forq uestioning in connection with stolen vehicles. The Central Detective Unit has issued an allpoints bulletin for the 38year-old whose last known address is Butt onwood Avenue in P inewood Gardens. H e has a brown comp lexion, is 5 tall and w eighs approximately 1 70lbs with a slim build. Police caution that he is considered armed and dangerous. Anyone with information on Feasters where abouts should call policea t 919/911, the Central Detective Unit at 5029930/9991, the Police C ontrol Room 322-3333, C rime Stoppers 328-8477 o r the nearest police station. Sponsors asked to help keep depression hotline open MAN WANTED FOR QUESTIONING Suicides prompt Dept of Social Services to seek help Immigration Dept does not have handle on citizenship applications backlog S HAWN FEASTER DEPUTY PRIMEMINISTER: Brent Symonette in Freeport

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By LARRYSMITH A RECENT report by a leading University of Miami marine scientist has confirmed that poaching by commercial fishermen from the Dominican Republic is the greatest single threat to Bahamians eafood resources. The report on illegal, unrep orted and unregulated (IUU fishing was produced for the Bahamas Lobster Fisheries Improvement Project. This ini-t iative is sponsored by local seafood processors in a bid to w in endorsement for Bahamia n crawfish exports under the European Union's new Catch Certification programme. W ithout this endorsement, w hich is aimed at reducing the over-exploitation of global fishery resources, Bahamian lob-s ters will be banned from the EU. And this lucrative market takes about 40 per cent of the 1 2.5 million lobsters we legally e xport every year (based on a four-year average), a catch val ued at more than $87 million. E U certification requires that lobsters are received only from licensed vessels using l egal methods meaning that o nly crawfish of legal size and condition are harvested. All fishery products must be prope rly documented upon land ing, with guarantees that exports are not derived fromI UU fishing. I ronically, this is one of the main difficulties in dealing with i llegal fishing in Bahamian waters. The Dominican Republic has a population of 9.6 million (compared to only3 53,000 Bahamians), and it receives more than four million air/hotel visitors annually. So that country does not need to export seafood products and is immune to pressures from EU regulations. Along the northern D ominican Republic coast are t hree major ports and several huge resort centres, one of w hich Punta Cana has m ore hotel rooms than the entire Bahamas. The size of t he Dominican tourism industry presents an almost unlimited demand for luxury seafood. And Punta Cana hotels have l obster on the menu for US$16, a bout half the price of a typical l obster tail dinner in Nassau. A s well, American statistics s how that 89,000 pounds of lobster tails were legally i mported from the Dominican Republic in the past year, buta ccording to international cons ervation organizations, there are no commercially viable stocks of spiny lobsters in Dominican Republic waters. I n these circumstances, it is obvious where the lobsters for Dominican resorts ande xporters are coming from. From the Dominican Republic's northern coast, it takes less than three days tor each the Great Bahama Bank i n a fishing vessel making 10-12 knots. These vessels are typi c ally 65 feet long, and each is attended by a number of smaller skiffs. Fishermen operate from the skiffs using hookahs and spears, at depths well below 60 feet. And divers fish to depths of over 200 feet, reaching deep reef resources not legally fished by Bahamia ns, according to the IUU r eport. "The potential for large illeg al lobster landings in the D ominican Republic is huge. The implications in terms of l ost jobs, lost revenue to the government, and lost fisheries resources is in the tens of millions of dollars," the IUU r eport warned. "This is a seri o us threat to national security a nd economic growth." T he report was produced b y Dr Kathleen Sullivan Sealey, of the University of M iami's highly respected Rosenstiel School of MarineS cience. She has decades of e xperience working in marine conservation in the Bahamas and was formerly Dean of the College of the Bahamas scie nce division. Crawfish are the most important marine resource weh ave, so we need to take care of it. In addition to export earnings, this fishery provides jobs, economic diversity and isa n important tourist attraction. A side from recreational fishing by visitors, lobster meals a re one of the highlights of visiting The Bahamas, and interviews confirm that diners would like to enjoy a guilt-free meal. Bahamians also eat lobster, and expect this seafood to remain affordable for the general population. B ut in order to protect this resource, we need accurate information, and little or none has been available on the scaleo r intensity of illegal fishing or for legal, non-commercial fishing in the Bahamas. This u ndermines fishery manage ment efforts and places the resource at greater risk of over-e xploitation. The IUU report is a n attempt to address this defi ciency by looking at consump tion by restaurants, recrea tional fishers and commercial fishers, including poachers. Illegal fishing is the har v esting of lobster by any means in violation of the existing laws and regulations, including poaching, taking undersized l obsters, taking lobsters out of season or using destructive methods such as bleach. Unrep orted fishing includes lobsters that are caught, sold and con sumed locally by Bahamians a nd visitors, or legally exported under the sportfishing regula tions. S ullivan Sealey surveyed restaurants and resorts; inter viewed yachters, tourists, Defence Force officers and local fishermen; examined data from seafood processors, and looked at the lobster market in the Dominican Republic. The main conclusions from this research are that restaurants may account for 570,000 illegal lobsters a year about 5 per cent of the current export quantity; while the unreported catch could be some 1.5 million lobsters about 12 per cent of known export landings. By far the biggest drain on the resource is illegal fishing by foreign vessels, mostly from the Dominican Republic. US law prohibits the import of fishery products that have been illegally taken, possessed, transported or sold. This includes the shipment of lob ster from The Bahamas without export permits, or taken by foreign nationals in excess of the sportfishing limits (currently six lobsters per person). The Cuban fishing industry is state controlled, and since the 1980 sinking of HMBS Flamingo by the Cuban Air Force, there have been few reports of poaching by Cuban vessels. Nevertheless, "Foreign fishing vessels operate across the southern Bahamas, venturing further north and across the Great Bahamas Banks during the summer when the lobster fishery is closed to Bahami ans," Sullivan Sealey said. "There are no accessible records of sightings of foreign fishing vessels, but anecdotal information puts the number at about six per month. Reports of illegal immigrants from Honduras and the Dominican Republic working on Bahamian fishing vessels have also been verified." Her report says it could be concluded from the interviews with Defence Force officers that the interdiction of poachers is not a priority for thep atrol vessels. "The RBDF is itself a significant fishing entity, with both shipboard and island-based personnel engag i ng in recreational fishing as a way to supplement incomes." Sullivan Sealey estimated t he number of lobsters taken out of Bahamian waters by poachers based on 30 vesselsm aking six trips a year, with a c atch of 10,000 pounds per trip. "This conservative estimate of illegal landings is a staggering3 5 per cent (or 4.3 million the known export of 12.5 million lobsters from the B ahamas." However, she pointed out that as many as 65 fishing vessels could be operating from n orthern Dominican Republic ports, and lobsters are not their only target. Conch, grouper a nd other finfish are also taken, as all are highly marketable in the Dominican Republic. Ande ach vessel could land over 70,000 pounds of catch per trip. "The key to reducing the i llegal fishing loss is to prevent illegal fishers from entering Bahamian waters," the report said. "The process of seizures and prosecutions, along with the cost associated with holding the vessels, crew and catch is largely ineffective. There are charges of corruption, and clearly a strong motivation with the amount of money involved in the sale of lobsters." Diplomatic efforts to address the problem are likely to be more effective, the report said. along with identifying the vessels involved and pursuing their financiers. National Security Minister Tommy Turn quest told me that the government was already pursuing this option and a spokesperson for the Ministry of Foreign Affairs said a Bahamian ambassador to the Dominican Republic would soon be appointed to take matters further. "The government is also providing increased resources to the RBDF to better equip them to deal with this problem," Turnquest said. "This includes the decentralization of the Defence Force with boats stationed to respond quickly. A base is being developed at Gun Point, Ragged Island, which is close to the Great Bahama Bank, our main fishing grounds." According to Dr Patricia Rodgers of the Ministry of For eign Affairs, one of the prob lems is that poachers have been receiving fairly light penalties and are then released. "It is my understanding that the relevant Ministries are now seeking to ensure that persons or entities who poach in our waters are charged to the full extent of the law and the resultant sentences are also to be published." Director of Marine Resources Michael Braynen told me his department was "extremely concerned about IUU fishing in terms of itsi mpact on fishermen, on government revenues, and even more significantly on our fish ery resources themselves." He s aid British fisheries consultant Paul Medley has been working on a stock assessment for t he seafood processors, which won't be released until after a series of peer reviews by others cientists later this year. M eanwhile, Sullivan Sealey reports that anecdotal evidence of migrating lobsters, the abun-d ance of lobsters in nearshore habitats, and the success rate of lobster condos in fisheries land i ngs, all suggest that crawfish numbers are declining. Although Medley's preliminary appraisal indicates that t he fishery is still in fairly good shape, a staggering number of lobsters are being removed f rom Bahamian waters each year more than 18 million, according to Sullivan Sealey'se stimates. She also pointed to the his torical damage to lobster habit at throughout the Bahamas. Even on islands with relatively small human populations, she has documented damage at more than 60 per cent of coastal survey sites she has worked on due to the use of bleach and explosives, and through destruction of coastal wetlands and mangrove creeks that provide juvenile lobster habitat. Braynen also acknowledged that poaching appears to be increasing year on year, although it is difficult to say by how much. The only indicator he could offer was that the standard of the Dominican boats being apprehended in Bahamian waters is much improved lately, a sign that greater investments are being justified by the illicit returns. "The greatest number of lobsters caught and removed from the ecosystem is likely through illegal foreign fishing in Bahamian waters," Sullivan Sealey concluded. And she confirmed the existence of a large domestic market for lob ster in the Dominican Republic, with a fishing fleet capable of accessing Bahamian waters. "Clearly, the most effort should be put into the documentation and monitoring of illegal fisheries landings in the Dominican Republic," she told me. "It is important for the Bahamas to make formal com plaints to the Dominican Republic, and ultimately, you have to deal with who is fund ing this better boats, more fuel, travelling further there has to be a lot of money involved." What do you think? Send comments to larry@tribunemedia.net Or visit www.bahamapundit.com P AGE 8, WEDNESDAY, JANUARY 26, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Greatest single threat to Bahamas seafood resources CRAWFISH are the most important marine resource we have.

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INTERNATIONAL NEWS PAGE 10, WEDNESDAY, JANUARY 26, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM IN S A TURD AYS TRIBUNE . PUZZLES, GAMES AND LOADS OF FUN IN YOUR FREE KID SCOOP HAMZA HENDAWI, Associated Press CAIRO E gyptian police fired tear gas and rubber bullets and beat protesters to clear thousands of people from a central Cairo square Wednesday after the biggest demonstrations in years againstP resident Hosni Mubarak's authoritarian rule. Two protesters and a police officer were killed in the nationwide demonstrations inspired by Tunisia's uprising, which also demanded a solut ion to Egypt's grinding poverty and were likely to fuel growing dissent in a presidential election year. Mobilized largely on the Internet, the waves of protesters filled Cairo's central Tahrir or Lib-e ration Square on Tuesday, some hurling rocks and climbing atop armored police trucks. "Down with Hosni Mubarak, down with the tyrant," chanted the crowds. "We don't want y ou!" they screamed as thousands of riot police deployed in a massive security operation that f ailed to quell the protests. As night fell, thousands of demonstrators stood t heir ground for what they vowed would be an all-night sit-in in Tahrir Square just steps away f rom parliament and other government buildings blocking the streets and setting the stage for even more dramatic confrontations. A large security force moved in around 1 a.m. Wednesday, arresting people, chasing others intos ide streets and filling the square with clouds of tear gas. Protesters collapsed on the ground withb reathing problems amid the heavy volleys of tear gas. T he sound of what appeared to be automatic weapons fire could be heard as riot police and plainclothes officers chased several hundred protesters who scrambled onto the main road along the Nile in downtown Cairo. Some 20 officers were seen brutally beating one protester with truncheons. It got broken up ugly with everything, shoot ing, water cannon and (polices ticks," said Gigi Ibrahim, who was among the last protesters to leave the square. "It was a field o f tear gas. The square emptied out so fast." Ibrahim said she was hit in her back with something that felt like a rock. "Some people were hit in their faces." Some protesters turned violent amid the crackd own. They knocked down an empty white police booth and dragged it for several yards befores etting it on fire, chanting that they want to oust the regime. A police pickup truck was overturned a nd set ablaze behind the famed Egyptian Muse um. Protesters also set fire to a metal barricade and blocked traffic on a major bridge over the Nile. Police at the bridge fired tear gas and protesters mounted a charge, forcing officers to retreat, though they quickly regrouped. Two protesters w ith bleeding head wounds were carried off in ambulances. W ell after midnight, the smell of tear gas drift ed throughout central Cairo and riot police remained deployed in large numbers. Tahrir Square looked like a battlefield covered with rocks and debris. The gates of the ruling party headquarters near the square were smashed. Scattered groups of protesters were holding o ut in several areas. Many were chased by police vehicles into the Shubra neighborhood, where t he streets were strewn with rocks in a sign of a h eavy confrontation. Discontent with life in Egypt's authoritarian p olice state has simmered under the surface for years. However, it is Tunisia's popular uprising, w hich forced that nation's autocratic ruler from power, that appears to have pushed young Egyp-t ians into the streets, many for the first time. "This is the first time I am protesting, but we have been a cowardly nation. We have to finally say no," said Ismail Syed, a hotel worker who struggles to live on a salary of $50 a month. We want to see change, just like in Tunisia," said 24-year-old Lamia Rayan. Revolution Dubbed a "day of revolution against torture, poverty, corruption and unemployment," Tuesd ay's protests in cities across Egypt began peacefully, with police at first showing unusual restraint i n what appeared to be a calculated strategy to avoid further sullying the image of a security a pparatus widely criticized as corrupt and violent. With discontent growing over economic woes a nd the toppling of Tunisia's president resonating in the region, it was an acknowledgment of the need to tread softly by an Egyptian government that normally responds with swift retribution to any dissent. B ut as crowds filled Tahrir Square waving Egyptian and Tunisian flags and adopting thes ame protest chants that rang out in the streets of Tunis security personnel changed tactics and t he protest turned violent. At one point, demonstrators attacked a water cannon truck, opening the driver's door and forc ing the man out of the vehicle. As protesters h urled rocks and dragged metal barricades, offi cers beat them back with batons. P rotesters emerged stumbling amid clouds of a crid tear gas, coughing and covering their faces with scarves. Some had blood streaming down t heir faces. One man fainted. Police dragged some away and clubbed a journalist, smashing her g lasses and seizing her camera. The sight of officers beating demonstrators h ad particular resonance because Tuesday was a national holiday honoring the much-feared police. Like the Tunisian protests, the calls to rally in Egypt went out on Facebook and Twitter, with 90,000 people voicing their support. T hroughout the day organizers used Twitter to give minute-by-minute instructions about where t o gather in an attempt to outmaneuver the police, until the government blocked it in the l ate afternoon. Twitter announced that its service had been blocked in Egypt at about 11 a.m. EST (1600 GMT cations had been affected. After remaining silent throughout the day, E gypt's government called Tuesday night for an end to the protests. The Interior Ministry, which c ontrols the security forces, said authorities want ed to let the protesters express their opinionsa nd accused the crowds of "insisting on provocation." Some threw rocks at police ... and others car ried out acts of rioting and damage to state institutions," it said. The ruling party said some 30,000 protesters had turned out across the country. "Egyptians have the right to express thems elves," said Egypt's Foreign Ministry spokesman, Hosam Zaki. In Washington, Secretary of StateH illary Rodham Clinton said Egypt's government, a key U.S. ally in the Middle East, was s table and Egyptians have the right to protest, though she urged all parties to avoid violence. The dead in Tuesday's violence included a policeman who was hit in the head with a rock in Cairo, and two protesters who died in the city of S uez east of Cairo, an Interior Ministry official said. Nearly half of Egypt's 80 million people live under or just above the poverty line, set by the U.N. at $2 a day. The widespread poverty, high unemployment and rising food prices pose a threat to Mubarak's regime at a time when tensions between Muslims and Christians are adding to the nation's woes. I support change," said Sami Imam, a 53year-old retired teacher who took part in Tuesday's protests. "The police cannot kill us because we, to all practical purposes, are already dead," said the father of four, clutching Egypt's red, white and black flag. "I have not visited the butcher in six months," he said, in a reference to Egypt's rising meat prices. Adding to the uncertainty is that Mubarak, 8 2 and ailing, has yet to say whether he plans to run for another six-year term in office. Mubarak has not appointed a deputy since he became president in 1981 and is widely thought to be grooming his son Gamal to succeed him. T he protests also follow a parliamentary election marred by allegations of widespread fraud that saw Mubarak's ruling National Democratic Party win all but a small number of the chamber's 518 seats. In recent weeks, Mubarak and his sonh ave repeatedly vowed to ensure that ambitious economic reforms engineered by the youngerM ubarak over the past decade filter down to the poor. But that has not happened and there has b een a marked increase in the frequency of street protests over the economy. In another parallel with Tunisia, the protests drew energy from the death of a single young man: a young Egyptian named Khaled Saidw hose family and witnesses say was beaten to death by two policemen in Alexandria last year.H is slaying has become a rallying point for Egypt's opposition. Tunisia's protests were also sparked by a single death, that of a poor Tunisian vegetable vendor who set himself on fire to protest corruption. That act has been copied by at l east six people in Egypt. On Tuesday, mothers carrying babies joined protesters who chanted, Revolution until Victory!" and waved signs reading "OUT!" inspired by the Tunisian slog an "DEGAGE!" Men sprayed graffiti reading "Down with Hosni Mubarak." Some passers-by dismissed the protests, saying a few thousand of Cairo's 18 million people coming out on the streets was not nearly enough to f orce change. "This is all just a waste of time," said Ali Mustafa Ibrahim, who works at a ciga r ette stand. "These are a bunch of kids playing cat and mouse. ... It's just going to create more probl ems and more traffic in the city." Among the protesters in Cairo was Alaa alAswany, author of the best-selling "Yacoubian Building," which portrays corrupt politicians, police brutality and terrorism in Egypt. A keen observer of Egyptian society, alAswany said the demonstrations were an important opening for the government's opponents. "They broke the barrier of fear," he said. "The w riters of the regime were saying Egypt is not Tunisia and Egyptians are less educated than Tunisians. But here is the thing: these young people proved they can take their rights force fully." Egyptians denounce Mubarak and clash with riot police (AP Photo/Nasser Nasser PROTESTS: Police are engulfed by their own tear gas at a demonstration in Cairo, Egypt Tuesday, Jan. 25, 2011. Thousands of anti-government protesters, some hurling rocks and climbing atop an armored police truck, clashed with riot police Tuesday in the center of Cairo in a Tunisia-inspired demonstration to demand the end of Hosni Mubaraks nearly 30 years in power.

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INTERNATIONAL NEWS THE TRIBUNE WEDNESDAY, JANUARY 26, 2011, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM WASHINGTON Associated Press PRESIDENT BARACK O BAMA called for unity with newly empowered Republicans in a State of the Union policy speech that laid the foundation for the s econd half of his president ial term and next year's fight for re-election. Obama staked out territory in America's political c enter. He defended programs dear to his Democratic base, including the fede ral Social Security pension p rogram and his health care o verhaul. He promised i nvestments in clean energy t echnology and biomedical r esearch and criticized tax cuts for wealthy Americans. But he also backed some top priorities of Republicans, who took control of t he House of Representatives this month. He called f or cutting the corporate tax rate, freezing some federal spending, shaking up thef ederal bureaucracy and eliminating lawmakers' pet p rojects. He made a direct appeal for bipartisan lawmaking: We will move forward together or not at all." The W hite House released Obama's prepared speech about an hour before he delivered it. The nationally televised address before both cham-b ers of Congress is always one of America's most closely watched political events, but this year's speechh ad extra drama. For the first time in his two-year presidency, Oba ma was appearing before a d ivided Congress. After November elections that Obama has described as a" shellacking," Republicans n arrowed the Democratic advantage in the Senate as well as taking control of the House of Representatives. O bama, who has rebounded in opinion polls in recent weeks, was looking to posi tion himself above politics, even as both parties maneuver for advantage ahead of the 2012 presidential vote. Obama said the American people are counting on their leaders to create jobs in the United States. "At stake right now is not who wins the next election," Obama said. "After all, we just had an election." Obama focused on federal spending for education, innovation and infrastruc ture as ways the government can support America's foundation and help businesses create jobs for a generation. He was pairing that with a call to reduce the federal d ebt and to make the gov ernment leaner. T he speech comes less t han three weeks after Democratic Congresswoman Gabrielle Giffords was seriously wounded in as hooting rampage in Tucson, Arizona, that killed six people. A seat was to remain empty in honor of Giffords. Many in both parties were to wear black-and-whitel apel pins, signifying the d eaths in Tucson and the hopes for the survivors. Family members of some victims were to sit with first lady Michelle Obama. The shooting, though its motives remain unclear,p rompted a debate about overheated political rhetoric and the need to tone down Washington's fierce partisanship. In an attempt at unity following the attack, many Democratic and Republican lawmakers decided to break with tradition and sit together. But those gestures did not obscure the sharp political differences between the par ties. One of the most divisive issues is federal spending. Public concern about the growing federal deficit, now topping $14 trillion, was a d efining force in the 2010 elections. Spending has become the central issue for Republicans. O bama was looking for the upper hand with a call for a five-year freeze on all discretionary government spending outside of national security, the White House said. That would be almost identical to the freeze Obama called for in his address last year. Ultimately it may have little effect, as Congress decides the budget on its own terms. Indeed, the Republicandominated House voted on Tuesday to return most domestic spending to 2008, pre-recession levels. The 2 56-165 vote came on a symbolic measure that put Republican lawmakers on record in favor of cutting$ 100 billion from Obama's budget for the current year. Republicans also chose one of their leading voices on spending cuts, House Budget Committee Chair man Paul Ryan, to deliver the party's televised response to Obama. "We are at a moment, where if government's growth is left unchecked and unchallenged, America's best century will be considered our past century," Ryan said. While Obama's speech included little on foreign a ffairs, he did announce he will visit Brazil, Chile and El Salvador in March. Oba ma also called on Congress t o approve a recently negotiated free-trade agreement with South Korea as soon as possible. Obama also said the U.S. stands with the people of Tunisia and all people striv ing for democracy. The president said the will of the people in the North African country proved more powerful than the rule of a dictator. Tunisia's autocratic leader, President Zine El Abidine Ben Ali fled the country Jan. 14 after 23 years in power. President Obama calls for unity with the Republicans STATE O FTHEUNION: Presi dent Barack Obama delivers his a ddress on Capitol Hill in Washington, Tuesday. (AP MOSCOW Associated Press PRIME MINISTER Vladimir Putin has vowed revenge for the suicide bombing that killed 35 peopleat a Moscow airport a familiar tough-on-terrorism stance that has underpinned his power but also led to a rising number of deadly attacks in Russia. Lax security also was blamed for Monday's explosion in the international arrivals area of Domodedovo Airport that also injured 180 people, with President Dmitry Medvedev on Tuesday criticizing police and managers at the airport, the largest of three that serve the capital. NTV television showed a photo graph of what it said was the detached head of the suspected bomber. Inves tigators have said that DNA testing will be necessary before the man, who appears to be in his 30s, can be identified. A two-second video of the blast itself, broadcast on state television and said to be from a closed-circuitTV camera, showed a burst of flames and passengers falling and fleeing as smoke filled the hall. No one has claimed responsibility for the attack, but suspicion has fallen on Islamist separatists from Chechnya or elsewhere in the restive Caucasus region who have been bat tling Russian authority for over 15 years. Chechen insurgents have claimed responsibility for an array of attacks, including a double suicide bombing on Moscow's subway system last year that killed 40 people. They also have used Domodedovo Airport before, with two suicide bombers slipping through its security in 2004 to kill 90 people aboard flights that took off from there. Putin rose to power in 2000 on a now-famous vow that Chechen rebels would be hunted down and killed "in the outhouse." But despite a second devastating war that brought Chechnya back under Moscow's control and sanctioning the violent rule of his chosen Chechen leader, Putin has been unable to wipe out the Islamic insurgency that has spread across much of the Caucasus. A brutal crackdown on the insur gency has produced a backlash that has led to almost daily attacks on police and security forces in the Caucasus and brought the terror to Moscow. Muscovites have also seen a sharp rise in ethnic tensions between Slav ic Russians and Muslims from the Caucasus, many of whom come to the capital in search of work. In an effort to address the poverty and high unemployment that feed the insurgency, the government has made ambitious plans to promote economic development in the Cau casus, including the building of five ski resorts across the mountainous region. Putin said last week the government would allocate 60 billion rubles ($2 billion struction, but the bulk of the $15 billion needed is to come from private investors. Medvedev has been given the task of attracting badly needed foreign investment to Russia, a mission he will take Wednesday to the World Economic Forum in Davos, Switzerland, where he is to be the main speaker at the opening session. The airport bombing undermined his mission and delayed his depar ture for a day. Instead of schmoozing with CEOs of major global corpora tions, Medvedev on Tuesday gave a tough speech to officials at the Fed eral Security Service, the main KGB successor. He suggested that some of them could have been at fault and told them to do everything possible to find those responsible. "The nest of these bandits, however they are called, should be elim inated," he said. Medvedev also blamed the transport police, ordering the interior minister to identify officials who should be dismissed or face other sanctions. Airport officials also did not escape blame. "What happened shows that obvi ously there were violations in guar anteeing security. And it should be answered for by those who make decisions there and by the management of the airport," he said. Medvedev demanded robust checks of passengers and baggage at all major transportation hubs. "This will make it longer for passengers, but it's the only way," he said. Putin vows revenge for Moscow airport bombing RUSSIAN PRIME MINISTER Vladimir Putin (AP PORT-AU-PRINCE, Haiti Associated Press H AITI'Sruling party held closed-door meetings Tuesday to decide whether to fight for their presidential candidate to remain in the race despite U.S. and international pressure to drop him. T he quake-torn country's political future hinges on how the Inite, or Unity, party handles an Organization of American States recommend ation that would push outgoing President Rene Preval's c hosen successor, government construction official Jude Celestin, out of the race. Doing so would open the d oor for carnival singer Michel "Sweet Micky"M artelly, a pro-military popu list, to face former first lady M irlande Manigat in a runoff. T he OAS says Martelly, whose partisans rioted when i t looked like he would not advance, should have finished second in the fraud-marredv ote and go to the runoff. Its recommendation, based on a sample of the vote, was made over the objections of other candidates and observers who s aid the entire vote should be t hrown out. There's no final decision yet," the coordinator of Preval's Unity party, formerS en. Joseph Lambert, told The Associated Press in thee vening. E arlier in the day, Lambert t old Radio Metropole that "a significant number of candidates for deputies and senate w ould favor" dropping Celestin to avoid international sanctions. The newspaper Le Nou v elliste reported that Celestin would concede, citing an anonymous government offic ial but that report has not been confirmed, and a pre dicted party statement has not b een made. The debate centers on the OAS election observers' rec ommendation that fraudulent t ally sheets from the Nov. 28 ballot be excluded. Based on a review of about 1 7 percent of the vote, the team said that Celestin and Martelly, separated by a fewh undred ballots in the pre l iminary results, should switch places. Now the United States c urrently holding nearly $1 billion in reconstruction aid originally promised for last year is insisting that the OAS report be implement ed. Sustained support from the international community, including the United States, requires a credible (electoral process" including "conducting second-round elections ina manner consistent with the recommendations and findings of the OAS technical review," the U.S. ambassador to the United Nations, Susan Rice, told the U.N. Security Council last week. HAITIS RULING PARTY DEBATES CANDIDATE'S FUTURE

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L OCAL NEWS P AGE 12, WEDNESDAY, JANUARY 26, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM G AMBIER Primary School celebrated its third annual Literacy Fest yesterday. The theme of the exhibition held at the Mall at Marathon for the occasion was "Navigating the archipelago through literacy expressions". The activities of the day included an opening ceremony at 10am and ac areer fair which was held from 11.30 am to 1pm at the mall. During the opening ceremony, students were entertained by Bahamian a rtists, authors and poets, including Tyrone Sawyer. The students also heard from Perm anent Secretary in the Ministry of E ducation Elma Garraway and other e ducators. M usical entertainment was provided b y the Royal Bahamas Defence Force B and. School officials said the objective of the event is to educate the parents ands tudents about the importance of literacy while helping them to develop a deeper appreciation for their country. PHOTOS/TIMCLARKE Literacy Gambier Primary School Third annual event features career fair Fest

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mance for the 12 months to October 31, 2011, stood in start contrast to that of Commonwealth Bank, which amid the severest recession in modern history saw net income for its 2010 financial year soarto a new record of $53 mil lion, a 26.1 per cent increase on the previous years $42 million according to unaudited financials. RoyalFidelity Capital Markets, in its assessment of First Caribbeans 2010 performance and 2011 prospects, noted that the bank BISXs largest stock by market capi talisation, although under 5 per cent is in public hands had seen both interest margins and net yields drop during the previous financial year. The investment bank added that FirstCaribbeans impaired loans, as a percentage of its total $2 billion-plus loan book, stood at 12.4 per cent at the October year-end, compared to the sectors 7.4 per cent average. FirstCaribbean continues to have a high level of loan loss provisions in comparison to historical trends, as well as in comparison to other banks, RoyalFidelity said. Impaired loans as a per centage of its total loan book at the end of the previous fis cal year was 12.4 per cent, compared to industry average of 7.4 per cent, while its provisioning coverage was at the lower end of the spectrum at 23 per cent versus the industry average of 32 per cent. Net yields at First Caribbean, RoyalFidelity said, had been impacted by the large increase in non-performing loans, while lower average loans had impacted interest margins. The end result was that FirstCaribbeans trailing 12month EPS had hit a low of $0.49, compared to the $0.90 it reached in 2007 just prior to the recession. Even adjusted for loan losses, the trailing 12-month EPS stood at $0.69 due chiefly to reduced net interest income and non-interest income. Still, the expected improvement in the wider Bahamian economy during 2011, which should translate into improved interest margins and reduced non-performing loans, was set to benefit FirstCaribbeans Bahamian shareholders through improved net income and dividend payouts. Assuming FirstCaribbean maintains its dividend payout ratio at around 60 per cent, the increase in net income should be reflected in divi dends paid, RoyalFidelity said. While the current trailing 12-month price earnings multiple of the bank is 19, with the anticipated improvement in net income over the next year, we expect this ratio to reduce to more normal levels over the next 12 months. RoyalFidelity noted that FirstCaribbeans EPS for the 2010 fourth quarter fell by 61 per cent, from $0.24 to $0.09, as net income dropped from $18.1 million to $11.4 million. Net interest income fell by $3.6 million or 10 per cent to $33.3 million during the quar ter, while non-interest income fell by $2.7 million or 27 per cent to hit $7.2 million. Non-interest expenses, t hough, rose by $4.1 million or 21 per cent to $23.2 mil lion, while total loan loss expense of $5.9 million grew significantly by $7.7 million, in comparison to a recovery of $1.7 million in the compar ative quarter. With income streams dropping and expenses rising, RoyalFidelity said FirstCaribbean continued to be impacted by the ongoing adverse economic conditions. Not so Commonwealth Bank, which yesterday cred ited enhanced credit risk management with keeping nonperforming loans below 3 per cent of its total loan portfolio, well below the industry average. This, in turn, reduced associated impairment allowances. Adding that return on assets (RoA ty (RoE and productivity levels all exceeded target for 2010, Commonwealth Bank said total assets rose to a new record of $1.408 billion, a 2.3 per cent increase on the $1.376 billion recorded at year-end 2009. Regular quarterly dividends during 2010, plus the two extraordinary dividends in February and November of last year, had returned some $25.5 million to its 6,500 shareholders, Commonwealth Bank added. Net income available to common shareholders stood at $48 million, a 33.3 per cent rise over the $36 million gen erated in 2009, while earnings per share hit $0.48, compared to $0.37 the year before. Commonwealth Banks return on equity stood at 30 per cent, compared to 27 per cent in 2009. BUSINESS PAGE 4B, WEDNESDAY, JANUARY 26, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM strength rating, said that since the current owners acquired the general insurance carrier in late 2002, the company had grown its capital base from an initial $10 million to its cur-r ent $40 million. Describing 2010 as a good, not great year for RoyalStar, as gross written premium income continued to be impacted by the economy, especially in the motor vehicle segment, Mr Watson said the top-line had also been impacted by thec ompanys conservative risk management stance. He explained that it did not pay to be overly aggressive in seeking to take on new insurance business, given the frequency with which hurricanes hit the Bahamas, especially ifp remium income did not match the associated risk. Describing A. M. Bests action, which also reaffirmed R oyalStars a- issuer credit rating and Stable outlook, as expected, Mr Watson said of the agencys actions: I think it reflects our high levels of liquidity and solvency. We have over $40 million in capital, are highly liquid and manage expenses well. Its good to have an independent, external third party organisation confirm were in goods hape. Profits And he told Tribune Business: Weve made over $30 million in profits in the past eight years, and although weve paids ome dividends, more than 70 per cent has been kept as retained earnings. Weve built the capital base from $10 million, mostly with retained earnings, although theres been some preference share issues, too. But the shareholders have not been diluted, and weve not had to borrow any money. Weve grown the capital base from earnings, and you can only do that with good operating performances. Mr Watson said that between 2002-2010, Royal Stars u nderwriting business in the Bahamas and the Cayman Islands had to cope with five hurricanes, namely Frances, Jeanne, Ivan, Michelle and Wilma. He added: The performance has been strong, and thats where you get strong operating results from. Most of ourp rofits do not come from investment income; theyre underwriting profits. Roughly $22 million of the $30 million has come from underwriting profits. Investment income has been a very much smaller part of t he operating results. The RoyalStar managing director said the smaller investm ent income contribution was the price we pay for being very liquid. We have lots of cash on the balance sheet, which does not pay a great return. We choose to be conservative with investments so we have access to large amounts of cash when we need to, such as in the aftermath of a hurricane. Mr Watson explained that unlike life insurance companies, which were able to match long-term assets to long-terml iabilities, general insurers such as RoyalStar were dealing with liabilities and risks of a short-term nature, given that property and casualty policies normally covered a 12-18 month period. As a result, and given the catastrophic nature of the peri ls they insured, Bahamian general insurers had to keep plentiful reserves of cash on hand. As for RoyalStars 2010 financial performance, Mr Wats on said that while final figures were awaited, the absence of any hurricane claims yet again meant that it was a reason able year. Gross written premiums were under pressure, and motor premiums were under pressure because of the economy. We also had slightly higher claims than the year before, he told Tribune Business, indicating that while RoyalStar had finished 2010 well in the black with net income worth several million dollars, the performance was not as good as the $6.816 million achieved the year before. Its likely to be a good, not great year, Mr Watson added of 2010. Our gross written premium figures have continued to decline as we slowly lose business, because were not prepared to be overly aggressive [in writing new business] due to the very risky environment. A big hurricane would cause a lot of damage, and we want to have control over our exposure and know where the risks are, so that after a large event we can deal with claims and customers as they deserve to be dealt with. In its assessment of RoyalStar, A. M. Best said: The ratings reflect RoyalStars solid capitalisation, favourable operating performance and established presence within the Caribbean market. Positive RoyalStar continues to produce positive operating results, which are derived from the companys strong underwriting performance in conjunction with a steady stream of investment income. Since RoyalStar writes all of its business in the Caribbean, it is exposed to frequent and severe weather-related events. Although this makes RoyalStar somewhat dependent on reinsurance as part of its overall risk management program, the companys solid reinsurance program reduces its net probable maximum loss to a manageable level. On the negative side, RoyalStar said these factors were offset by the concentration of the companys risks in the Bahamas and Cayman Islands, hurricane exposure, dependency on reinsurance, and an increasingly competitive pricing environment. Interestingly, A. M. Best added: Local regulatory risk is somewhat elevated as the Bahamian government increases its supervision over insurance companies operating in the country, and seeks to tighten regulatory requirements. Furthermore, the Caribbean insurance market has become increasingly competitive as indigenous and outside insurers seek to gain market share in the region. Mr Watson told Tribune Business he was unsure where A. M. Best was coming from in its comments about increased government regulation of the insurance industry. He added that enhanced levels of regulatory supervision could aid an insurance industry by reducing risk, ensuring market players toe the line when it comes to solvency margins, liquidity and capital reserve requirements. Were very happy with an increased regulatory environment, and the tighter the regulatory environment, the happier we are, Mr Watson said. That supports serious players, not the less serious players. 70% PROFIT RETENTION AIDS ROYALSTAR RATING F ROM page 1B FROM page 1B FIRSTCARIBBEAN IMPAIRED LOANS 5% POINTS ABOVE SECTOR AVERAGE China State Construction, which has gained a $1.95 billion construction contract from Baha Mar for the Cable Beach redevelopment, was said by multiple sources to be in talks with Ken Hutton, the former Freeport Concrete and John S George chief executive, about using the Sea Air Business Centre facility valued at $12 million by its Florida-based owner for this purpose. When contacted by Tribune Business for comment yesterday, Mr Hutton said he could neither confirm nor deny that China State Construction was the entity he was talking to, and that it was over the possibility of using the Associated Grocers facility as a clearance/storage depot relating to the Baha Mar project. However, he did tell this newspaper: Negotiations are ongoing. Multiple sources familiar with developments, though, told Tribune Business that if Mr Hutton was able to seal thed eal with China State Construction, it would ensure the direct benefits from the $2.6 billion Cable Beach redevelopment benefited more islands that just New Providence/Nassau. They added that such an arrangement could involve upwards of 30,000 containers over three-and-a-half years being shipped to, and cleared, in Freeport, before they were forwarded to Nassau for use on the Baha Mar project. Jobs Such a deal, the sources added, could easily create 30-50 jobs almost immediately for the Freeport economy, which is badly in need of economic stimulus, and ensure that some Grand Bahama residents benefit directly from Baha Mar without having to leave their homes and island. It would be nice to have a $2.6 billion investment benefit more than Nassau, one source said. Describing the potential impact from the Associated Grocers warehouse proposal as really, really significant, the source added that potentially millions of dollars of construction materials and equipment could be involved. Mr Hutton took over management of the Freeport warehouse, and Universal Distributors, last year via what was described as a mutual arrangement between PLP politicians, Pleasant Bridgewater and Obie Wilchcombe, anda Bahamian bank, said to be Bank of the Bahamas International. Ms Bridgewater and Mr Wilchcombe had rented the warehouse facility from Associated Grocers, intending to run their own distribution business, Universal Distributors, from it, yet the venture was plagued with problems that resulted in the landlord twice moving to lock them out for unpaid rent. M r Hutton was said to have been appointed to devise a new direction and business plan that could make Universal Distributors viable, plus generate rental income for Associated Grocers from a facility it no longer had any use for, previous attempts to sell it having provenf ruitless. This move seems to have led to the talks with China State Construction. GB facility as logistics hub for Baha Mar F ROM page 1B

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MAE ANDERSON, A P Retail Writer NEW YORK Luxury handbag maker C oach says a strong holiday s eason, particularly in North America, helped its fiscal seco nd-quarter net income rise 26 percent. T he increase shows the luxury sector is rebounding faster than other retail segments. To serve consumers cutting spending at the beginning of t he recession, Coach began offering more bags for less than $ 300. But CEO Lew Frankfort said Tuesday, when the comp any released its earnings report, that Americans are spending more on handbags again. The average retail selling price of its handbags rose 9 percent for the quarter, more than the low-single-digit percentage i ncrease Coach had predicted. A $498 satchel sold particu l arly well, Frankfort said, adding that $400-plus bags m ade up 18 percent of all handbag sales during the quarter, as opposed to 13 percent a year ago. Fewer shoppers visited North A merican stores, but the aver age amount they spent roses lightly, and the company said its North American revenue o verall rose 17 percent for the quarter. Higher conversion or the number of people in s tores who make a purchase boosted the results, Frankfort said. "Consumers who actually w ent into stores had a more s erious intention to purchase than they did last year," Frankfort said. "In our world of accessories, the consumer is b ack." Coach's net income rose to $ 303.4 million, or $1 per share, from $240.1 million, or 75 cents p er share, a year earlier. Rev enue increased 19 percent to $1.26 billion. Analyst expected earnings of 97 cents per share on revenue o f $1.21 billion, according to FactSet. R evenue at stores open at least a year rose 12.6 percent i n North America. That figure is a key gauge of retailers' performance because it excludes stores that recently opened or closed. S ales in China were also strong, the company said, while r evenue in Japan rose 8 per cent in dollars, helped by a s tronger yen. Department stores are also ordering more than they did in the depths of the recession. International wholesale shipments also i ncreased. The company said it expects r evenue and earnings to con tinue to increase by double-dig it percentages. Jefferies & Co. a nalyst Randal J. Konik said Coach did a "great job" realigning its business during the downturn; he expects neti ncome to continue to rise as C oach capitalizes on its "accessible luxury" market position. But Konik said rising leather and labor costs could cut into C oach's margins in the future. Coach shares fell 28 cents T uesday to close at $53.09. Coach also said it will buy back up to $1.5 billion of its outstanding shares by June 30,2 013. O ther stores that cater to the affluent have reported strong holiday sales as well, including Tiffany & Co. and Signet Jewe lers. BUSINESS THE TRIBUNE WEDNESDAY, JANUARY 26, 2011, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ATLANTIC MEDICAL INSURANCE CO.LTD. Atlantic House,2nd Terrace & Collins Avenue,P.O.Box SS-5915,Nassau Tel.326-8191 Suite 5,Jasmine Corporate Center,East Sunrise Highway,P.O.Box F-42655,Freeport Tel.351-3960A member of Colonial Group International:Insurance,Health,Pensions,LifeHealth insurance premiums have continued to rise,so we are all more sensitive to the levels of cover and service a health plan provides. Feeling good about choosing Premier Health for your business,is knowing your employees receive more service and cover for your premium dollar.Premier Health delivers state-of-the-art administration and claims support to work for your business too.Less hassle on service,care and price issues means more focus on doing what you and your team do best.Call 326-8191 or visit www.cgigroup.bm Colonial Group International is rated A-(Excellentby AM Best. Premier HealthIt feels good to choose a health plan that takes care of my business,my team and me. Premiums have not been controlled by cutting benefits and coverage for catastrophic illnesses Premium increases have on average been lower than the market rate MILWAUKEE Harley-Davidson Inc. cut its fourth-quarter loss, getting a ride from a restructuring and a strong performance from its financial services unit even as motorcycle sales slumped. H arley's stock surged $3.45 per share, or 9.45 percent, in midday trading after company executives appeared to be more upbeat about the company's performance this year. The Milwaukee company on Tuesday reported a net loss of $46.8 million, or 20 cents per share, a vast improvement over the $218.7 million, or 94 cents per share, that it lost in the same period a year ago. The company would have made money for the quarter with out an $85 million charge from buying back senior notes. Harley said it lost $42.1 million, or 18 cents per share, from continuing operations. Harley-Davidson Financial Services contributed $43.5 million in operating income. Revenue for the quarter rose nearly 20 percent to $917 million, though motorcycle sales for the quarter were down 1 percent worldwide and 0.2 percent in the U.S. Still, the performance beat Wall Street estimates. Analysts polled by FactSet expected a loss of 24 cents per share on revenue of $853.8 million. And the company reversed its 2009 full-year loss, posting a profit of $146.5 million, to 62 cents per share. Harley lost $55.1 million, or 24 cents per share, in 2009. Harley CEO Keith Wandell said in a statement that the company feels good about its full-year results. "We have made strong progress at transforming our business to be leaner, more agile and even more effective at delivering great products and customer experiences," he said. Company executives would not estimate sales for the coming year, but on a conference call with industry analysts they seemed optimistic because they plan to increase shipments. A key factor could be whether Harley's main demographic will let their hair down a bit more in 2011. The company's U.S. sales fell slightly last year even as consumers returned to car and truck dealers, helping auto sales rebound 11 percent over 2009. LINDA A. JOHNSON, AP Business Writer Johnson & Johnson's revenue has slumped for a second straight year, prompti ng its CEO to make an extraordinary pitch to soothe investors and defend the company's handling of 17 costly product recalls. The health care giant, hammered by the w eak global economy, growing pricing pressures and recalls that have kept many popular nonprescription medicines off store shelves, reported Tuesday a 12 percent profit decline and a 5.5 percent drop ins ales for the fourth quarter. Revenue fell 0.5 percent in 2010, after dropping 3 percent in 2009 its first annual decline since the Depression. C hairman and Chief Executive William C. Weldon tried to reassure analysts and investors that J&J has its manufacturing and other problems under control, in an unusually lengthy, sometimes repetitive conference call. Wall Street wasn't buying i t, though, with J&J shares dropping $1.23, or 2 percent, to $60.99 in afternoon trading a fter initially dropping 2.4 percent a big d rop for a huge, diversified company that rarely sees stock volatility. J&J's stock has lagged the benchmark S&P 500 Index over the past year and isb elow the $62 level where it traded five years ago. The Teflon has come off J&J ... with a vengeance," said analyst Steve Brozak of WBB Securities. The adjusted earnings from the maker of Tylenol, medical devices and biologic drugs matched Wall Streete stimates but revenue fell short and its earnings estimate for this year was well below analysts' current forecasts. Because of the weak forecast, institut ional investors "voted with their feet t oday," said Erik Gordon, a professor and analyst at University of Michigan's Ross School of Business. The New Brunswick, N.J.-based compan y reported net income of $1.94 billion, or 70 cents per share, down from $2.21 billion, or 79 cents per share, in 2009's fourth quarter. E xcluding one-time items, earnings w ould have been $1.03 per share, matching analysts' expectations. J&J took an after-tax charge of $922 million for litigation settlements, a recall of poorly fitting DePuy hip i mplants and increasing J&J's product liability reserve. The company's revenue fell to $15.64 b illion from $16.6 billion a year ago. It was also below the $16 billion expected by analysts polled by FactSet. ( AP Photo/Seth Perlman LOSSCUT: In this Jan, 21, 2011 photo, the Harley-Davidson Logo is seen at the Hall's Harley Davidson dealership in Springfield, Ill. Harley-Davidson Inc. cut its fourth-quarter loss Tuesday, Jan. 25, getting a ride from a restructuring and a strong performance from its financial services unit even as motorcycle sales slumped. EARNINGSREPORTS Strong holiday boosts Coach 2Q net income, revenue J&J reports lower fourth quarter profit, revenue Restructuring helps cut Harley-Davidson 4Q loss ( AP Photo/Tony Dejak) L OWERPROFIT: J ohnson & Johnson products rest on a shelf at a grocery store Tuesday, Jan. 25, 2011, in Cleveland.

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BRUSSELS The eurozone's euro440 billion ($599 billion fund says its first bond auction to finance a rescue loan for Ireland saw "recordbreaking" demand. The European Financial Stability Facility said Tuesday its euro5 billion ($6.83 billion bond sale was almost nine times oversubscribed, getting orders worth euro44.5 billion from more than 500 investors. The EFSF says that the interest rate for the 5-year bond is 2.89 percent. That compares with a yield of 2.32 percent on comparable German bonds. Strong demand for the fund's first contribution to Ireland's ?67.5 billion bailout was expected, after Japan said it would buy 20 percent of the issue. Ireland will only receive e uro3.3 billion of the euro5 b illion since a cash buffer is needed for the fund's triple-A rating. BUSINESS PAGE 6B, WEDNESDAY, JANUARY 26, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM /HJDORWLFH 127,&(0DGLVRQ&RQVXOWLQJ/WG1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWK VHFWLRQRIWKH,QWHUQDWLRQDO%XVLQHVV &RPSDQLHV$FWWKHGLVVROXWLRQRI 0DGLVRQ&RQVXOWLQJKDVEHHQFRPSOHWHGD &HUWLFDWHRI'LVVROXWLRQKDVEHHQLVVXHG DQGWKH&RPSDQ\KDVWKHUHIRUHEHHQVWUXFN RIIWKHHJLVWHU$ODLQ.XQ] /LTXLGDWRUf /HJDORWLFH 127,&(1DERLO,QYHVWPHQWV/WG1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFH ZLWKVHFWLRQRIWKH,QWHUQDWLRQDO %XVLQHVV&RPSDQLHV$FWWKH GLVVROXWLRQRI1DERLO,QYHVWPHQWV KDVEHHQFRPSOHWHG&HUWLFDWHRI 'LVVROXWLRQKDVEHHQLVVXHGDQGWKH&RPSDQ\ KDVWKHUHIRUHEHHQVWUXFNRIIWKHHJLVWHU$ODLQ.XQ] /LTXLGDWRUf P AN PYLAS, Associated Press LONDON An unexpected downturn in the British economy shocked investors on Tuesday, prompting a sharp drop in the pound and reigniting debate about the government's plans to slash spending and raise taxes to reduce public debt. The figures showing a 0.5 p ercent GDP drop in the last three months of 2010 fueled speculation that the British economy was heading back into r ecession defined as two q uarters of negative growth a nd reined in expectations that t he Bank of England would s tart raising interest rates soon i n response to stubbornly high i nflation levels. T he figures are preliminary, l eaving them open to revision, a nd followed four quarters of g rowth including 0.7 percent i n the third quarter as Britain climbed out of a deep r ecession. In the text of a speech in Newcastle, Bank of England governor Mervyn King appeared to indicate that he wasn't in a rush to start raising borrowing costs, a move that could dampen growth. He argued that the drop in living standards for millions of Britons was an "inevitable price" to pay for the financial crisis and subsequent rebalanc ing of the world and U.K. economies. "At some point Bank Rate w ill have to return to a more normal level ... but a return to e conomic stability from our fragile conditions will require c areful and well-judged steps looking beyond the next few months," King said. King conceded that inflation would likely rise to between 4 a nd 5 percent in the coming months from the 3.7 percent in D ecember as the recent spike in energy and commodity costs c ombine with higher sales taxes. But he said price pressures would start to fall next year as the economic downturn con tinues to rein in wage increases. In any case, King insisted there's very little monetary policy can do to keep a lid on the prices of imports, such as food a nd oil. Policy Monetary policy cannot be b ased on wishful thinking," King said. "So unpleasant though it is, the Monetary Policy Committee neither can, nor should try to, prevent the s queeze in living standards, half o f which is coming in the form of higher prices and half ine arnings rising at a rate lower than normal." K ing noted that real wages the difference between pay r ises and inflation would likely fall again this year to levels no higher than in 2005. "One has to go back to the 1920s to find a time when realw ages fell over a period of six years," King said. T he governor's comments come in the wake of figures from the Office for National Statistics showing that Britain's economy shrank again in the f ourth quarter of 2010, largely because of the heavy snow that g ripped the country during December, snarling roads, crippling Heathrow and other air-p orts and keeping people away from shops before Christmas. B ut statisticians said the economy would have flatlined even without the snow, stunning markets that had been expecting a 0.5 percent increase in GDP. Within a minute or two of the data's release, the pound had dropped over a cent a gainst the U.S. dollar, falling to a low of $1.5753 before settling a round the $1.58 mark before King took to the stage. Stocks suffered too, with the FTSE 100i ndex of leading British shares underperforming its peers, closi ng down 0.4 percent at 5,917.71. A nalysts said the grim economic figures will make it difficult for the Bank of England to hike any time soon especially as the Conservative-led coalit ion government is at the beginning of a sharp fiscal retrenchm ent. The raft of spending cuts and tax increases the govern ment announced last autumn have not yet even come into force during the fourth quar-t er. "Questions will be raised a bout whether this reflects the onset of the double-dip that had been feared, and no doubt the impact of the coalition's fiscal plans will be under even more i ntense scrutiny in an environ ment where the recovery lookst o be faltering," said George Buckley, chief U.K. economist at Deutsche Bank. Britain plans sharper spending cuts than any of the other major global economies and how it fares is being closely monitored around the world, particularly in Europe. JOHANNESBURG Europe and the United States have failed to strengthen the institutions responsible for the global economic crisis, the IMF said in a report suggesting the U.S. privatize mortgage giants Freddie Mac and Fannie Mae. The International Monetary Fund pointed to "weak balance sheets" of eurozone governments and banks and said the European bailout fund needs to be increased from its headline 440 billion euros. ___ LONDON An unexpected contraction in the British economy shocked investors, prompting a sharp drop in the pound and reigniting debate about the government's plans to slash spending and raise taxes to reduce public debt. The economy shrank 0.5 percent in the last three months of 2010. The decline reined in expectations that the Bank of England would start raising interest rates soon in response to stubbornly high inflation levels. Stocks were also hurt by the news. The FTSE 100 index of leading British shares fell 0.3 percent, while Germany's main DAX index and France's CAC-40 both slipped 0.1 percent. ___ BRUSSELS The eurozone's bil lion euro ($599 billion says its first bond auction to finance a rescue loan for Ireland saw "recordbreaking" demand. ___ TOKYO Japan's central bank kept a key interest rate unchanged at virtu ally zero, hoping to protect a still-fragile economy from veering off track. Japan's Nikkei 225 stock average added 1.2 percent. Elsewhere in Asian trading, South Korea's Kospi rose 0.2 percent and Australia's S&P/ASX 200 gained 0.5 per cent. Hong Kong's Hang Seng index dropped less than 0.1 percent while the Shanghai Composite Index fell 0.7 percent. ___ MADRID Spain's bor rowing costs dropped significantly in a heavily oversub scribed auction of 2.2 billion euros ($3 billion debt, a day after the government announced reforms for its ailing savings bank sector. ___ NEW DELHI India's central bank raised key interest rates for the seventh time in little over a year in an attempt to contain inflation. ___ DAVOS, Switzerland Trust in business and government worldwide has been remarkably resilient through the economic crisis, except in the U.S., where it has steeply declined, according to a survey released on the sidelines of the World Economic Forum. ___ DUBAI, United Arab Emirates DP World said business jumped 14 percent last year, reflecting the expansion of the Dubai port operator's global network and a resurgence in trade as the world economy picked up steam. UK economy shrinks and pound plunges G LOBAL E CONOMIC N EWS A SSOCIA TED P RESS A look at economic developments and activity in major stock markets around the world Tuesday: EUROPEINCRISIS : Tourists walk at 1200 BC ancient cemetery of Keramikos as at the background is seen t he ancient Acropolis hill in central Athens, on Tuesday, Jan. 11, 2011. EUROZONE BAILOUT BOND SEES 'RECORD' DEMAND A P P h o t o / P e t r o s G i a n n a k o u r i s INTERNATIONAL BUSINESS

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P AUL WISEMAN, A P Economics Writer WASHINGTON Facing high unemployment and lukewarm public approval, President Barack Obama can take heart from history: At the same point in his presidency 28 years ago, Ronald Reagan wass addled with an approval rati ng much lower than Obama's is now. And the unemployment rate then was a full percentage point higher. For Reagan, the economy recovered quickly and strongly, carrying him to re-election in 1984, one of the biggest land-s lides in U.S. history. It's possib le Obama could benefit from a n equally robust economic revival before Election Day 2012. But expectations are lower this time, because the government has already used upm ost of its tools to boost the e conomy. Recent history suggests a president's fortunes can turn dramatically, for better orw orse, on economic swings from the halfway mark of his first term to the next Election Day. Here are some examples: PRESIDENT RONALD REAGAN: Midway through his first term, Reagan's approval ratingw as 37 percent. No wonder. W hen Reagan delivered his State of the Union address in January 1983, the unemployment rate was at 10.4 percent nearly 3 percentage points higher than when he took office. Federal Reserve Chairman Paul Volcker had pushed interest rates as high as 20 percent to slow the economy and snuff out inflation. He succeeded. But the result was the deepest r ecession since the Great D epression. Political pundits wrote Reagan off as a one-term president. Yet once he whipped infla t ion, Volcker reversed course a nd lowered interest rates. Reagan's tax cuts also jolted the economy. By Election Day 1984, the unemployment rate h ad fallen to 7.2 percent and was still dropping. Proclaiming the arrival of "Morning in America," Reagan won another four years in the WhiteH ouse, defeating Walter Mondale. PRESIDENT GEORGE H.W. BUSH: A little more than two years into his presidency, George H .W. Bush looked invincible. His approval rating had hit 89 percent after the U.S. military drove Saddam Hussein's Iraqi forces from Kuwait in February 1991. B ut a weak economy extinguished Bush's hopes for reelection. The military triumphi n the Persian Gulf temporarily l ifted Bush's popularity after t he United States slid into recession. Rising unemployment, though, gradually took a toll. So did the perception that Bush had lost touch with voters w ho were struggling financially. H is opponent in the 1992 election, Bill Clinton, famously built his campaign around the p hrase, "It's the economy, stup id." By November, the unemployment rate was 2 percenta ge points higher than when B ush took office. Bush lost his re-election bid in a three-way race with Clinton and indepen d ent candidate Ross Perot. The n ext month, a panel of economists decreed that the recession had officially ended in M arch 1992, eight months before Election Day. PRESIDENT BILL CLINTON Bill Clinton was floundering after two years in the White House. His health care reform p lan had failed. In the 1994 midterm election, Republicans had seized back control of both the House and Senate. Clin ton's approval rating was 47 percent. But over the next two years, a strengthening economy and a successful budget standoff against congressional Republicans reversed Clinton's fort unes. From his inauguration through Election Day 1996, the unemployment rate fell from 7.3 percent to 5.4 percent. The D ow Jones industrial average s hot up 88 percent. In November, Clinton scored an easy victory over Sen. Bob Dole and Perot. PRESIDENT GEORGE W. BUSH A ttention to terrorism and war overshadowed George W. Bush's first term, despite ane ight-month recession in 2001 and a slow recovery that prod uced few jobs. After the 9/11 attacks on New York and Washington, the nation rallieda round Bush as he prepared for the March 2003 invasion of I raq. Two years into his presidency, Bush's approval rating was 58 percent, even though unemp loyment was higher and the stock market lower than when he took office. His approval rat-i ng would top 70 percent after U.S. troops occupied Baghdad in April 2003. F rom there, Bush's approval rating would fall steadily. The u nemployment rate rose from 4.2 percent, when Bush entered the White House, to 5.4 per-c ent on Election Day 2004. By then, the economy had lost jobs since the president had taken office. Even so, Bush managed a solid victory over Sen. John K erry in November 2004. PRESIDENT BARACK OBAMA President Barack Obama's popularity could be worse considering the unemployment rate remains 9.4 percent more than a year after the recession ended. An Associated Press-GfK poll found that 53 percent of A mericans approve of how O bama is governing, a middleo f-the-pack ranking for presidents in their second year. More than half of Americans disapprove of his handling of the economy. Only 35 percent say it's improved on his watch. That's down from 40 percent a year earlier. Y et "he's clearly ahead of Reagan" at similar points in t heir presidencies, says Andrew Kohut, president of the Pew Research Center. Obama also shares one of R eagan's enduring strengths: People like him. In the AP-GfK poll, 83 percent of Americans call Obama likable, 62 percentl abel him a strong leader and 61 percent say he's in touch w ith ordinary people. BUSINESS THE TRIBUNE WEDNESDAY, JANUARY 26, 2011, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM N EW YORK Prices for gold and other metals are falling as investors r aise their expectations for e conomic growth. Gold hit its lowest level since November, when a yearend rally took it above $1,400 a n ounce. Investors have been pouring into gold futures based on fears of weak economic growth and global i nflation. Gold is often used a s a hedge against falling currency prices and slow growth. Interest in gold waned on Tuesday. Gold for February d elivery fell $12.20 to settle at $1,332.30. One factor pushing gold down is the expectation that t he Federal Reserve could m ove toward raising interest rates, said George Gero, senior vice president for RBC Wealth Management in New York. The central bank's cent ral policy making committee is meeting this week. The market, with the selling, is betting that we're going to have continued recovery in the economy, and higher interest rates," Gero said." Higher interest rates make it more expensive to hold gold,a nd the recovery signals that you may not need the haven i n gold." Other precious metals followed gold lower. In March contracts, silver lost 51.6 cents to settle at$ 26.805 an ounce, copper fell 12.25 cents to $4.2260 a pound a nd palladium fell $31.80 to $784.75 an ounce. April plat-i num fell $32.30 to $1,787.30 an ounce. C rude oil fell on mixed eco nomic news and the possibility that OPEC countries will step up production. Comments Monday by the S audi Arabian oil minister stoked speculation of a prod uction increase. He seemed to imply that the Saudis and o ther members of the Organi zation of the Petroleum Exporting Countries could raise production to bring down the price of oil. G oldman Sachs analysts think it's possible that OPEC h as already stepped up pro duction. T hey say global demand increased in December, but oil supplies did not appear to decline at the same pace. "It would suggest that O PEC has started to bring its spare capacity back to the m arket earlier than we antici pated," Goldman Sachs anal ysts wrote in a note to investors. MEETANDGREET: President Barack Obama greets invited guests at Albany International Airport in Colonie, N.Y. on Friday, Jan. 21, 2011. (AP Photo/Tim Roske How presidential fortunes turn on economic twists GOLD DROPS AS OPTIMISM GROWS ABOUT THE ECONOMY

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NEW YORK Treasury prices rose Tuesday on hopes that President Barack Obama might talk about a partial freeze on government spending in his State of the Union speech. "The market is preparing for a fiscally responsible speech from the President tonight," said John Spinello, bond strategist at Jefferies & Co. The price of the 10year Treasury note rose 56 cents per $100 invested Tuesday. Its yield, which moves in the opposite direction, fell to 3.34 percent from 3.39 percent late Monday. Recently, some European nations like Portugal and Ireland have had their credit ratings downgraded by agencies who cited increased government spending. The downgrades sent borrowing costs higher for those countries, a cause of worry for bond traders. On Tuesday, the government also sold $35 billion two-year notes, which were 3.5 times oversubscribed. That was slightly lower than the average rate of 3.7 in the last four auctions. However the Treasury was able to sell the notes at 0.65 percent, a better rate than the 0.74 percent the government paid at last month's two-year note sale. The 30-year bond is up $1.03 to yield 4.50 per cent, down from 4.56 late Monday. The yield on the twoyear Treasury note fell to 0.58 percent from 0.62 percent. BUSINESS PAGE 8B, WEDNESDAY, JANUARY 26, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 5 2wk-Hi52wk-LowSecurit y P revious CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .260.97AML Foods Limited1.021.020.000.1500.0406.83.92% 1 0.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.1530.10032.02.04% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.2110.210.001.0500.3109.73.04% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1)6.856.850.000.4220.26016.23.80% 3 .651.63Consolidated Water BDRs2.042.00-0.040.1110.04518.02.25% 2 .551.60Doctor's Hospital1.601.600.000.1070.11015.06.88% 6 .995.94Famguard6.076.070.000.3570.24017.03.95% 10.207.23Finco6.516.510.000.2870.52022.77.99% 11.408.77FirstCaribbean Bank9.399.390.000.4940.35019.03.73% 5.513.75Focol (S)5.485.480.000.3660.16015.02.92% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.405.00ICD Utilities7.407.400.000.0120.240616.73.24% 10.509.82J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 9 9.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 1 00.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield B ISX LISTED & TRADED SECURITIES AS OF:7% I nterest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-23201 9 October 2022 Prime + 1.75% P rime + 1.75% 6.95%20 November 2029TUESDAY, 25 JANUARY 2011BISX ALL SHARE INDEX: CLOSE 1,480.19 | CHG -0.05 | %CHG 0.00 | YTD -19.32 | YTD % -1.29BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)M aturity 19 October 2017FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51795.51%6.90%1.498004 2.94742.8300CFAL 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 NOTICE is hereby given that ELMINAETIENNE of Marshall Road is applyingto 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 19th day of January, 2011 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.NOTICE 081$(/RI %URDGZD\1HZ



THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 7B





GOLD DROPS
AS OPTIMISM
GROWS ABOUT
THE ECONOMY

NEW YORK

Prices for gold and other
metals are falling as investors
raise their expectations for
economic growth.

Gold hit its lowest level
since November, when a year-
end rally took it above $1,400
an ounce. Investors have been
pouring into gold futures
based on fears of weak eco-
nomic growth and global
inflation. Gold is often used
as a hedge against falling cur-
rency prices and slow growth.

Interest in gold waned on
Tuesday. Gold for February
delivery fell $12.20 to settle at
$1,332.30.

One factor pushing gold
down is the expectation that
the Federal Reserve could
move toward raising interest
rates, said George Gero,
senior vice president for RBC
Wealth Management in New
York. The central bank's cen-
tral policy making committee
is meeting this week.

"The market, with the sell-
ing, is betting that we're going
to have continued recovery in
the economy, and higher
interest rates," Gero said.
"Higher interest rates make it
more expensive to hold gold,
and the recovery signals that
you may not need the haven
in gold.”

Other precious metals fol-
lowed gold lower.

In March contracts, silver
lost 51.6 cents to settle at
$26.805 an ounce, copper fell

and palladium fell $31.80 to
$784.75 an ounce. April plat-
inum fell $32.30 to $1,787.30
an ounce.

Crude oil fell on mixed eco-
nomic news and the possibili-
ty that OPEC countries will
step up production.

Comments Monday by the
Saudi Arabian oil minister
stoked speculation of a pro-
duction increase. He seemed
to imply that the Saudis and
other members of the Organi-
zation of the Petroleum
Exporting Countries could
raise production to bring
down the price of oil.

Goldman Sachs analysts
think it's possible that OPEC
has already stepped up pro-
duction.

They say global demand
increased in December, but
oil supplies did not appear to
decline at the same pace.

"It would suggest that
OPEC has started to bring its
spare capacity back to the
market earlier than we antici-
pated," Goldman Sachs ana-
lysts wrote in a note to
investors.

Facing high unemployment

: and lukewarm public approval,
? President Barack Obama can
? take heart from history: At the
i same point in his presidency 28
i years ago, Ronald Reagan was
? saddled with an approval rat-
? ing much lower than Obama's
? is now. And the unemployment
i rate then was a full percentage
? point higher.

For Reagan, the economy

? recovered quickly and strongly,
? carrying him to re-election in
i 1984, one of the biggest land-
i slides in U.S. history. It's possi-
? ble Obama could benefit from
? an equally robust economic
? revival before Election Day
i 2012. But expectations are low-
i er this time, because the gov-
? ernment has already used up
: most of its tools to boost the
i economy.

Recent history suggests a

i president's fortunes can turn
i dramatically, for better or
? worse, On economic swings
? from the halfway mark of his
i first term to the next Election
i Day. Here are some examples:

— PRESIDENT RONALD REAGAN:

Midway through his first

? term, Reagan's approval rating
i was 37 percent. No wonder.
: When Reagan delivered his
12.25 cents to $4.2260.a pound | state of the Union address in
i January 1983, the unemploy-
i ment rate was at 10.4 percent
i — nearly 3 percentage points
: higher than when he took
i office.

Federal Reserve Chairman

? Paul Volcker had pushed inter-
i est rates as high as 20 percent to
: slow the economy and snuff out
i inflation. He succeeded. But
i the result was the deepest
i recession since the Great
i Depression. Political pundits
? wrote Reagan off as a one-term
i president.

Yet once he whipped infla-

? tion, Volcker reversed course
i? and lowered interest rates. Rea-
: gan's tax cuts also jolted the
? economy. By Election Day
? 1984, the unemployment rate
? had fallen to 7.2 percent and
i was still dropping. Proclaiming
? the arrival of "Morning in
? America," Reagan won anoth-
i er four years in the White
i House, defeating Walter Mon-
i dale.

—PRESIDENT GEORGE H.W. BUSH:

A little more than two years

i into his presidency, George

H.W. Bush looked invincible.
His approval rating had hit 89
percent after the U.S. military
drove Saddam Hussein's Iraqi
forces from Kuwait in Febru-
ary 1991.

But a weak economy extin-
guished Bush's hopes for re-
election. The military triumph
in the Persian Gulf temporarily
lifted Bush's popularity after
the United States slid into
recession. Rising unemploy-
ment, though, gradually took a
toll. So did the perception that
Bush had lost touch with voters
who were struggling financially.
His opponent in the 1992 elec-
tion, Bill Clinton, famously
built his campaign around the
phrase, "It's the economy, stu-
pid."

By November, the unem-
ployment rate was 2 percent-
age points higher than when
Bush took office. Bush lost his
re-election bid in a three-way
race with Clinton and indepen-
dent candidate Ross Perot. The
next month, a panel of econo-
mists decreed that the reces-
sion had officially ended in
March 1992, eight months
before Election Day.

—PRESIDENT BILL CLINTON

Bill Clinton was floundering
after two years in the White
House. His health care reform
plan had failed. In the 1994
midterm election, Republicans
had seized back control of both
the House and Senate. Clin-
ton's approval rating was 47
percent.

But over the next two years,
a strengthening economy and
a successful budget standoff
against congressional Republi-
cans reversed Clinton's for-
tunes. From his inauguration
through Election Day 1996, the
unemployment rate fell from
7.3 percent to 5.4 percent. The
Dow Jones industrial average

GOVERNMENT NOTICE

MINISTRY OF PUBLIC WORKS & TRANSPORT

PRE-QUALIFICATION FOR TENDERING
FOR REPAIRS &T THE CENTRAL DETECTIVE UNIT BUILDING

The Government ef the Commonwealth of The Bahamas Intends to pre-qualify Bahamian
contractors for repairs to the Central Detective Unit Bullding at Thompson Boulevard, Nassau

Bahamas.

MEET AND GREET: President Barack Obama greets
invited guests at Albany International Airport in Colonie,

N.Y. on Friday, Jan. 21, 2011.

shot up 88 percent. In Noverm-
ber, Clinton scored an easy vic-
tory over Sen. Bob Dole and
Perot.

— PRESIDENT GEORGE W. BUSH

Attention to terrorism and
war overshadowed George W.
Bush's first term, despite an
eight-month recession in 2001
and a slow recovery that pro-
duced few jobs. After the 9/11
attacks on New York and
Washington, the nation rallied
around Bush as he prepared for
the March 2003 invasion of

(AP Photo/Tim Roske)



Iraq.

Two years into his presiden-
cy, Bush's approval rating was
58 percent, even though unem-
ployment was higher and the
stock market lower than when
he took office. His approval rat-
ing would top 70 percent after
USS. troops occupied Baghdad
in April 2003.

From there, Bush's approval
rating would fall steadily. The
unemployment rate rose from
4.2 percent, when Bush entered
the White House, to 5.4 per-
cent on Election Day 2004. By
then, the economy had lost jobs

MINISTRY OF NATIONAL SECURITY

How presidential fortunes

turn on economic twists

: PAUL WISEMAN,
? AP Economics Writer
: WASHINGTON

since the president had taken
office. Even so, Bush managed
a solid victory over Sen. John
Kerry in November 2004.

— PRESIDENT BARACK OBAMA

President Barack Obama's
popularity could be worse con-
sidering the unemployment rate
remains 9.4 percent more than
a year after the recession end-
ed. An Associated Press-GfK
poll found that 53 percent of
Americans approve of how
Obama is governing, a middle-
of-the-pack ranking for presi-
dents in their second year.

More than half of Americans
disapprove of his handling of
the economy. Only 35 percent
say it's improved on his watch.
That's down from 40 percent a
year earlier.

Yet "he's clearly ahead of
Reagan" at similar points in
their presidencies, says Andrew
Kohut, president of the Pew
Research Center.

Obama also shares one of
Reagan's enduring strengths:
People like him. In the AP-GfK
poll, 83 percent of Americans
call Obama likable, 62 percent
label him a strong leader and
61 percent say he's in touch
with ordinary people.

GN -1171

PARLIAMENTARY REGISTRATION DEPARTMENT

PUBLIC NOTICE

VOTER REGISTRATION

FOR THE WE -

The Parliamentary Commissioner wishes to remind the general public that Voter Registration continues
on a daily basis in Mew Providence and in the Family Islands. Parsons applying for registration must ba
BAHAMIAN CITIZENS, 18 years and older and must have resided in a particular constituency tor three

Monies of mare.

Voter Registration Centres are opened in New Providence between the hours of 10:00am - doitem

at the following locations:

(1) The Pariamentary Registration Department, Farrington Road
(2) The Town Centre and Marathon Malls
(3) The General Post Office, East Hill Street
(4) The Sub-Post Office Carmichael Rinad
(5) The Sub-Post Office Bizabetn Estates
(6) The National Insurance Board - Ballou Hil Road
(7) Gommonwealth Banks Mackey Street

in Grand Bahama, Centres are opened between the hours of 9:30am — 4:30pm at the following

locations:

1. Parliamentary Registration Dapartment, Freeport

2. Administrators Offies, Bight Mile Fock
3. Administrator's Ctfhiee, High Rock (Tuesdays and Thursdays)

In the Family Islands, registretion takes place af the Administrators’ Offices in the variqus Family
islands between fe hours of 30am — 430om

The Parliamentary Commissioner also wishes (o advise thal the Department has commence its
mobile services with effect from 10° January 20111

Businesses and organizalions with af leas! twenty (20) eligible employees or members may contac!
the Department af teleohone numbers 325-2585/9 of 397-2000 io schedule an apponiment

The Ministry of Works & Transport invites Bahamian contractors wishing to pre-qualify for
this work to submit sealed proposals documenting of their legal status, technical and financial
capacity to provide the services required,

Intereited parties may obtain pre-qualification documents as of 17" January 2011 fromm the
office of the Director of Public Works, Ministry of Works & Transport, between Sam to Spm
on the 3” Floor Wast Wing. Ministry of Public Works & Transport Building, J F Kk Drlve,
Nassau, Baharnas.

Completed pre-quallfication applications must be placed in the self addressed enveloge
provided and deposited in the Tenders Box in the office of the Director of Public Works no
later than 12:00 noon on or before 28" January 20d

The Director of Public Works
Ministry of Works & Transport
P.O). Boo N-B1S6

iohn F. Kennedy Drive

New Providence

Bahamas

Aaplicants will be notified of the results after the evaluation process has been completed

Signed

Colin Higgs
Permanent Secretary



Ministry of National
PARLIAMENTARY REGISTRATION DEPARTMENT

PUBLIC NOTICE

The Parliamentary Registration Department will be conducting Evening
Registration on Tuesdays, Wednesdays and Thursdays, during the period
January 25th — 27", from 5:00 pm — #00 pm at the following locations:

(1) Parliamentary Registration Depariment

(2) Mall at Marathon

(2) Town Centre Mall

(3) Elizabeth Estates Post Office — Prince Charles Drive
(4) Carmichael Road Post Office — Carmichael Road

The public is reminded that only Bahamian Citizens are eligible to register to
vote and applicants are required to produce proof of citizenship.

Signed

Erral ©. Bethel
PARLIAMENTARY COMMISSIONER



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 8B, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





Consumer Confidence
Index hits 8-month high

Holiday shopping boom carries over to new year

MARTIN CRUTSINGER,
AP Economics Writer
WASHINGTON

Consumer confidence hit an
eight-month high in January.
The increase suggests the ris-
ing spirits that fueled a holiday
shopping boom are carrying
over into the new year as peo-
ple feel better about the job
market.

The Conference Board said
Tuesday its Consumer Confi-
dence Index climbed to 60.6
this month from 53.3 in Decem-
ber.

While confidence is still far
from the 90 that signals a
healthy consumer mindset, the
January improvement was bet-
ter than expected. Some econ-
omists said the big tax relief
package Congress passed in late
December may have helped.

"So much for a ho-hum Jan-
uary,” said Jennifer Lee, senior
economist at BMO Capital
Markets. "The signing of the
stimulus bill and all that it is
intended to bring is buoying
sentiment."

The $858 billion package
extended the Bush-era tax
relief at all income levels for
two years, provided tax breaks
for businesses and reduced
Social Security payroll taxes by
2 percentage points this year.

The Social Security reduc-
tion means an estimated $1,000
in additional after-tax income
for the average family, accord-
ing to White House estimates.

Other analysts suggested that
the recent gains in the stock
market and improving labor
market conditions were trump-
ing higher gasoline prices and
falling home prices.

The Standard & Poor's/Case-







INTERNATIONAL
BUSINESS

Shiller 20-city index showed
home prices falling in most of
America's largest cities and hit-
ting their lowest point since the
housing bust in nine markets.

The January rise in confi-
dence is a good sign for con-
sumer spending, said David
Wyss, chief economist at Stan-
dard & Poor's in New York.

"A confident consumer buys
a new car," he said. "A cau-
tious consumer repairs the old
one."

The January confidence fig-
ure was the highest last May's
62.7. At that time, consumer
attitudes were improving as
economic growth seemed to be
taking off. However, the econ-
omy stalled in the summer, and
so did confidence.

Confidence has been
depressed by unemployment
that surged during the coun-
try's worst recession since the
1930s and has stayed stubborn-
ly high even though the down-
turn ended in June 2009. Con-
fidence has not been above 90
since the recession began in

NOTICE

NOTICE is hereby given that YVES LAFONTANT a.k.a. YVES
FRANCOIS of BURIAL GROUND CORNER, P.O. BOX
N-805, 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 26" day of January, 2011 to the Minister responsible
for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that MYRLAND VICTOR of
CARMICHAEL ROAD, 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
26" day of January, 2011 to the Minister responsible for
nationality and Citizenship, PO. Box N-7147, Nassau, Bahamas.

Moray al Werk



GROWING CONFIDENCE: In this photo taken Dec. 6, 2010, visitors at shopping mall in Springfield, Ill. The
Consumer Confidence Index rose in January to its highest point in eight months but remains well below

the levels indicating a healthy economy

December 2007. In the Confer-
ence Board survey, the per-
centage of people surveyed who
felt jobs were hard to get fell
slightly to 43.4 percent from 46
percent in December.

The share who expected to
see more jobs six months from
now rose to 16 percent from
14.2 percent.

That finding supported a sep-
arate report Monday from the
National Association for Busi-
ness Economics that showed
the number of firms expressing

positive views on hiring had
climbed to the highest level in
12 years.

While confidence has stayed
weak since the recession ended
in summer 2009, consumer
spending has been picking up.
During the 2010 holiday shop-
ping season, sales increased at
the fastest rate in six years.

Economists are hoping that
consumer confidence will keep
rising in 2011 as the economy
improves and unemployment
declines.

MUA

NOTICE is hereby given that ELMINA ETIENNE of
Marshall Road 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 19 day of January,
2011 to the Minister responsible for nationality and
Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that MUNA EL-FITURI of
561 Broadway #9A New York 10012, United States
of America 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 19" day of
January, 2011 to the Minister responsible for nationality
and Citizenship, PO. Box N-7147, Nassau, Bahamas.

= FG CAP
ROYAL FIDELITY e :

BISX LISTED & TRADED SECURITIES AS OF:
TUESDAY, 25 JANUARY 2011

TTAL MARKETS
BROKERAGE & ADVISORY SERVICES

BISX ALL SHARE INDEX: CLOSE 1,480.19 | CHG -0.05 | %CHG 0.00 | YTD -19.32 | YTD % -1.29
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%

WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

S2wk-Low
0.97
9.67
4.50
0.18
2.70
2.14
9,62
2.36
5.40
1.63
1.60
5.94
7.23
8.77
B75
1.00
5,00
9,82
10.00

Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings

Doctor's Hospital
Famguard
Finco

Focol (S)

ICD Utilities
J. S. Johnson

S2wk-Hi S2wk-Low

Securit_y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas

Commonwealth Bank (S1)
Consolidated Water BDRs

FirstCaribbean Bank
Focol Class B Preference
Premier Real Estate

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

1.02
10.63
4.90
0.18
2.70
ee
10.21
2.40
6.85
2.04
1.60
6.07
6.51
93.39
5.48
1.00
7.40
9,82
10.00

Symbol

Previous Close Today's Close

Last Sale

Change Daily Vol.
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

-0.04
0.00

1.02
10.63
4.90.
0.18
2.70
2.17
10.21
2.40
6.85
2.00
1.60
6.07
6.51
3.39
5.48
1.00
7.40
8.82
10.00

0,00.
0.00.
0.00.
0.00.
0,00.
0,00.
0,00.
0.00,

Change Daily Vol.

EPS $

Div $ P/E
0.150
0,013
0.153
-O.877
0.168
0.016
1.050
0.781
0.422
0.1141
0.107
0.357
0.287
0.494
0.366
0,000
0.012

17.0
22.7
19.0
15.0

N/M

616.7

11.4
10.14

0.859.
0.991

Interest Maturity





99.46
100.00
100.00
100.00
100.00

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

BAH29.
FBB17
FBB22
FBB13.
FBB1IS

20 November 2029.
19 October 2017
19 October 2022

30 May 2013
29 May 2015

99.46
100.00
100.00
100.00
100.00

0.00 6.95%

0.00 7%

0.00 Prime + 1.75%
0.00 7%

0.00 Prime + 1.75%

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

S2wk Lee Symbol
Bahamas Supermarkets

RND Holdings

Bid &
5.01
0.35

Ask

Last Prince
14.00

EPS $
-2.945
0.001

Div &
0,000.
0.000

Daily Wel.
6.01

0.40 0.55.

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

ABDAB 30.13
RND Holdings: 0.45

4.540
0.002

0.000
0.000

31.59 29.00

0.55 0.55.

BISX Listed Mutual Funds

NAY
1.5179
2.9474
1.5740
2.7202

13.2825
114.3684
106.5528

1.1415
1.1101
1.1428

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

1.4076
2.8300
1.4954
2.8522
13.0484
101.6693
99.4177
1.0000,
1.0000
1.0000
9.1005

Royal Fidelity Prime Income Fund
CFAL Global Bond Fund

CFAL Global Equity Fund

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

9.7950
10.0000
10.6417
9.1708
9.6635

4.8105 8.3979

YTD%
5.51%
2.10%
4.44%
12.72%
-0.63%
9.98%
4.75%
4.74%
3.94%
4.78%

4.85%

-1.20%

-3.37%
8.82%

NAV 6GMTH
1.475244
2.919946
1.538692

NAV 3MTH
1.498004
2.918697
1.555464

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

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

107.570619
105.776543

109.392860
100.779540
5.21%
7.60%
5.90%
5.45% 30-Nov-10.
0.50% 30-Nov-10.

30-Nov-10.
31-Dec-10

3.37%
8.82%

MARKET TERMS

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 trom 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

S1) - 3-for-1 Stock Split - Effective Date 7/11/2007

YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

ASk $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company's reported eamings per share for the last 12 mths
NAV - Net Asset Value

N/M - Not Meaningful

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

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

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



Confidence jumps
The consumer corkdence ances
from a survey of 8.000 LS.
househedos

HOPES FOR
SPENDING CURBS
SEND TREASURY

PRICES HIGHER

NEW YORK

1965 = 105

ge

Treasury prices rose
Tuesday on hopes that
President Barack Obama
might talk about a partial
freeze on government
spending in his State of
the Union speech.

"The market is prepar-
ing for a fiscally responsi-
ble speech from the Pres-
ident tonight,” said John
Spinello, bond strategist
at Jefferies & Co.

The price of the 10-
year Treasury note rose
56 cents per $100 invest-
ed Tuesday. Its yield,
which moves in the oppo-
site direction, fell to 3.34
percent from 3.39 percent
late Monday.

Recently, some Euro-
pean nations like Portu-
gal and Ireland have had
their credit ratings down-
graded by agencies who
cited increased govern-
ment spending. The
downgrades sent borrow-
ing costs higher for those
countries, a cause of wor-
ry for bond traders.

On Tuesday, the gov-
ernment also sold $35 bil-
lion two-year notes,
which were 3.5 times
oversubscribed. That was
slightly lower than the
average rate of 3.7 in the
last four auctions. How-
ever the Treasury was
able to sell the notes at
0.65 percent, a better rate
than the 0.74 percent the
government paid at last
month's two-year note
sale. The 30-year bond is
up $1.03 to yield 4.50 per-
cent, down from 4.56 late
Monday.

The yield on the two-
year Treasury note fell to
0.58 percent from 0.62
percent.

inte 40 bgures ae wea ecredly oped

SOURCE: The Confteance Bord aP



(AP Photo/Seth

en

Perlman)

Employers added 1.1 million
jobs for all of 2010, but the
nation still has 7.2 million few-
er jobs than it did in Decem-
ber 2007, when the recession
began.

Many economists expect the
nation will create twice as many
jobs this year as it did last year
as economic growth picks up.

The Conference Board con-
fidence index was based on
answers to questions from a
survey of 5,000 U.S. households
taken through Jan. 18.

US airlines make money
again by flying less



(AP Photo/Stephan Savoia)
CUTTING COSTS: In this Thursday, Jan. 20, 2011 photo a Jet Blue jet
taxis near an American Airlines jet parked at its gate at Boston’s
Logan International Airport.

DAVID KOENIG,
AP Airlines Writer
DALLAS

After a decade of multibillion-dollar losses, U.S. airlines appear
likely to profit for years for a simple reason: They are flying less.

By grounding planes and eliminating flights, airlines have cut
costs and pushed fares higher. As the global economy rebounds,
travel demand is rising and planes are as full as they've been in
decades.

Profit margins at big airlines are the highest in at least a decade,
according to the government. The eight largest U'S. airlines are
forecast to earn more than $5 billion this year and $5.6 billion in
2012.

US. airlines are in the midst of reporting fourth-quarter results
that should cap the industry's first moneymaking year since 2007.

"The industry is in the best position — certainly in a decade —
to post profitability," says Southwest Airlines CEO Gary Kelly.
"The industry is much better prepared today than it was a decade
ago."

The airlines' turnaround has benefited investors — the Arca air-
lines stock index has nearly quadrupled since March 2009 — but it's
been tough on travelers.

Fares in the U.S. have risen 14 percent from a year ago, accord-
ing to travel consultant Bob Harrell. Flights are more crowded than
they've been in decades. On domestic flights, fewer than one in five
seats are empty. Space is even tighter over the summer and holi-
days. That's why it took a week to rebook all the travelers who
were stranded by a snowstorm that hit the Northeast over Christ-
mas weekend.

Travelers also face fees these days for services that used to be
part of the ticket price, such as checking luggage (usually $25 to $35
per bag) and rebooking on a different flight (usually $150 for a
domestic flight, more when flying overseas).

"I'm not averse to anyone making money — that's great — but
(to) take things away and then charge for them, that's not right,"
said Rick Jellow, an executive who travels in his job for a lighting-
systems company in Virginia.

From 2000 through 2009, U.S. airlines lost about $60 billion
and eliminated 160,000 jobs, according to an industry trade group,
the Air Transport Association.

During that tumultuous decade, airlines were hit with a series of
events beyond their control: two recessions; the Sept. 11 attacks; an
avian flu outbreak that scared away many travelers, and rising
fuel costs.

The industry was profitable in 2000, 2006 and 2007, when the
economy was roaring. But those boom years masked the industry's
underlying problems, including high costs and too many empty
seats. During 2008 and 2009, airlines lost a combined $23 billion, but
they were also attacking their problems, setting the stage for a
comeback in 2010.
THE TRIBUME

WEDNESDAY, JAMLUAR TY om. ocr t

PAGE $B



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CLOUDY,
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Volume: 107 No.53









aU a)

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The Tribune

LATEST NEWS ON WWW.TRIBUNE242.COM



WEDNESDAY, JANUARY 26, 2011

eS
a a
AND REAL as

BAHAMAS BIGGEST



>

Pike

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

Harrowing oi
of haby Michela

Family seeks fundraiser for
mounting medical expenses

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

A GRAND BAHAMA
family is desperately seek-
ing support for vital rehabil-
itative treatment for their
baby who, before the age of
two, has survived crippling
medical challenges.

In the last eight months,
21-month-old Michelo ‘Mj’
McKenzie Jr has battled
pneumocccal meningitis,
shunted hydrocephalus, cor-
tical blindness, partial paral-
ysis and hearing loss — all of
which doctors attribute to a
previously undetected blood
disorder.

Buckling under the weight
of mounting medical
expenses, Michelo McKen-
zie Sr, 34, told The Tribune
of his son’s harrowing ordeal
which has retarded his
development to that of a
three-month-old infant.

Mr McKenzie Sr said: “It
was a Situation where no
one knew he was sick, no
one knew he had sickle cell

anemia, everything just
came after he had his vacci-
nation shot. Everything just
went haywire from there.”

Born a thriving and
healthy baby boy, Mj first
began exhibiting signs of ill-
ness last May after he
received his first year vacci-
nations. Due to an unre-
lenting fever — which lasted
five days — he was admitted
to the Rand Memorial Hos-
pital where they ran a series
of tests, including a spinal
tap. Results uncovered that
little Mj had contracted a
bacterial form of meningi-
tis, a disease for which treat-
ment time was typically 14
days.

Mr McKenzie said: “We
were dumbfounded. He was
hospitalized for 25 days and
during that time he had four
seizures and three blood
transfusions. He lost his
sight, his hearing, and was
paralysed on the left side of
his body. Meningitis is an
infection to the brain so

SEE page nine

AUTO INSURANCE

|
Never start your





ASSISTING

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

BAHA Mar has received up to
800 job applications on behalf of
} general contractors working on the
new Commercial Village and the re-
routing of West Bay Street.

Although Baha Mar Resorts Ltd is
not the general contractor on the

$2.6 billion project, Robert Sands,
CONTRACTORS: vice-president of external affairs,
Robert Sands said the company is assisting con-



UP T0 800 JOB APPLICATIONS RECEIVED BY BAHA MAR

tractors by “providing a bank of
potential candidates for screening
for hire.”

Mr Sands confirmed receipt of 300
applications from Grand Bahama
tradesmen, and a list of about 1,500
names from the Ministry of Labour’s
skills bank.

Dion Foulkes, Minister of Labour,
told The Tribune yesterday, the gov-
ernment is “very excited about the
developments at Baha Mar” and

SEE page nine

Visit our new store

at Harbour Bay...

SEE SECTION E



POLICE SUSPECT
ATTORNEY KILLED IN
‘ATTEMPTED ROBBERY
GONE WRONG’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE suspect attorney
Dennis Gomez was mur-
dered during an attempted
robbery gone wrong.

Assistant Commissioner
of Police Glenn Miller told
The Tribune that Mr Gomez
was shot after one of two
assailants, who approached
him outside his law office
early Saturday morning,
silently ordered him into his
car at gunpoint.

Mr Gomez, 57, resisted
and struggled with the gun-
man, who then shot him sev-
eral times.

"It seemed to be an
attempted robbery, there is
nothing to suggest anything
other than that at this point.
They ordered him in the car,
but he refused and he strug-
gled with the men and then
shots were fired," Mr Miller
said yesterday.

The two assailants fled the
area on foot, said Mr Miller.

Mr Gomez, brother of
Comptroller of Customs
Glenn Gomez, and husband

SEE page nine

ANDRE BIRBAL SEX
TRIAL COULD SEE
VERDICT TODAY

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT: A verdict in
the Andre Birbal sex trial
could be expected today after
Justice Hartman Longley
gives his summation to the
jury.

After hearing final argu-
ments from the Crown and
the defence yesterday, Justice
Longley decided he would
address the jury this morning.

The former art teacher is
charged with eight counts of
unnatural sexual intercourse
with two minors.

It is alleged that Birbal had
sex with a male student at the
Eight Mile Rock High School
between January 2002 and
June 2007. It is also alleged
he had sex with a second male
student between September
2002 and December 2005.

The young men testified
that their art teacher had sex
with them in his classroom
during school hours, at his
apartment, and other places.
They also testified that Bir-
bal took nude photographs of
them.

Birbal, a Trinidadian,
taught art design and com-
puter aid design at the Eight

SEE page nine

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NASSAU AND BAHAMA



ISEANDS* LEADING NEWSPAPER


PAGE 2, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





PAUL BOWER
DIES AFTER
LONG ILLNESS

ROBERT Paul Bow-
er died after a long ill-
ness, peacefully at his
home on Cable Beach in
the early hours of Mon-
day, January 24.

Mr Bower was born in
Kent, England, on
November 2, 1924, the
only son of Commander
Robert Tatton Bower,
RN, MP, and the Hon
Henrietta Bower.

Paul is survived by his
wife Ericka; sons Bobby
Bower and Nigel Bow-
er; daughter Victoria
Blackman-Aumonier;
son-in-law Alcy
Aumonier, daughters-
in-law Kay Bower and
Lora Bower, grandsons
Dominic Bower, Axiom
Blackman and Nicholas
Bower; granddaughters
Daniella Bower, Aimee
Blackman and Morgan
Bower; sisters Anne
Doyne-Ditmus, Mar-
garet Kelly, Marianna
Viscountess Monckton
of Brenchley, Elizabeth
Wainwright, Veronica
Slocock, Mary Cox,
Monica de Salis; broth-
ers-in-law Ian Cox,
Bernard de Salis and
Michael Wainwright;
many nephews and
nieces and faithful
friends here and abroad.

A funeral service is to
be announced.

INSIGHT

For the stories behind
the news, read Insight
on Mondays



ant

The Bahamas
ew Maritime Authority

Se

LOCAL NEWS

OPERATI



PHILIP HILTON, ATTORNEY

¢ The Rapid Strike

was long overdue.

The crime rate is out of

hand and the only way

that we can clear crime 1s

for the police force to
take charge."



TALLS, CONTRACTOR

GG

The police only

judging books by
cover. They must look on
the inside of a man. They
are only interested in
racial profiling."









ON

STREET

It's about time they started to

take control on the country, we
shouldn't have to wait until the country
deteriorates in order to see improve-
ment. They do a good job but they
could do better."

G6

The

police
force must
keep it up and
be consistent."

STEPHEN PLAKARIS,
FISHERMAN

MARGARET SMALL, POLICE DEPARTMENT

OO RO eMC L al

STRIKE

What do you think about it?

LAST week Wednesday, the Royal
Bahamas Police Force initiated Opera-
tion Rapid Strike in several high crime
areas. Their efforts netted 14 suspects on
the first night. The Tribune's student
interns from Bahamas Academy hit the
streets of Nassau yesterday to find out
how Bahamians felt about the RBPF's
latest crime-fighting strategy.



The commissioner is doing
an excellent job; we will see

progress. Why should we be
unsafe? I look forward to not hav-
ing to lock my car and carry my
empty purse."



66 They

need to
capture more
criminals."

CAROLYN PEDICAN,
BARTENDER, ABACO

BAHAMAS INTERNATIONAL MARITIME CONFERENCE AND
TRADE SHOW

In association with the Bahamas Ministry of the Environment Proudly present the 3rd annual

BIMCATS 20)

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fa cdideeds the manning shoriage

mai 0 w tar Elise ALEMUIFE. ret
Oiher Initiatives la Shore: becei Trad nd neg

Kaeraond Jor

Vhe MLC? Diet: le dhe common cimedads sulicioms io address the coew"s wellbore?
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UNO TIME SPEAKER: Mr. bre Care, Pxecutie |arector, Heteeres oteeral | rmi

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LAL rail huuiveag _—_ a ty cy

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EVENING HASUET
KEYHMOTE SPEAKER: &











CARSON HEPBURN,
SECURITY

Something like the

Rapid Strike was
long overdue and needed
to be done from the
beginning. We need to
enforce groups such as
the strike force. On this
note, I give the police
force credit for the Rapid
Strike."



ASTON BRAYNEN, BANKER

¢ The Rapid Strike is

good; it is better to

do something than noth-

ing. It is never too late for
progress."

%abahamads
%
* .

o®8
0

“The Mariner:



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


THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 3



Family Islands ‘safe and secure’ |

despite eight murders in 2010 —

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

EIGHT murders rocked the
Family Islands last year, with
the greatest concentration in
Abaco and Bimini, according
to statistics released Monday
as part of the police’s “2010
year in review.”

Despite the existence of vio-
lent crime, the Family Islands
are “very safe and secure”, said
Willard Cunningham, assistant
commissioner of police for the
Family Islands.

“T wish to say that the Fami-
ly Islands are very safe and
secure and this is due in large
part to the excellent police and
community relationships
throughout the Commonwealth
of the Bahamas,” said Mr Cun-

ningham.

“The community continues
to assist the Royal Bahamas
Police Force with regards to all
offences by giving tips and
information, which has led to
solving a significant number of
these crimes,” he said.

Only one of the eight mur-
ders recorded in the Family
Islands remains unsolved,
according to the police.

There were two murders in
Abaco and two in Bimini; there
was one murder in Andros,
Exuma, Long Island and
Inagua. In each instance, the
Family Island commands
received assistance from Cen-
tral Detective Unit (CDU) offi-
cers, who travelled from New
Providence.

Extra manpower from New
Providence was also called in

last year for major regattas,
homecomings and festivals. As
a result, Mr Cunningham said,
there were no “serious inci-
dents” at any of these events.
He highlighted the support
from residents and “their good
citizenship during these
events.”

Despite some crime prob-
lems, like the spate of burglar-
ies late last year in Harbour
Island, there was a reduction
in house and shop break-ins,
burglaries and armed robberies
in the Family Islands last year,
said Mr Cunningham.

In the case of Harbour
Island, a crime-fighting initia-
tive between local police and
CDU helped to clamp down on
the problem. Local police
arrested five people in connec-
tion with the holiday break-ins,

EGE) ul Uy ul alt MURDER

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

A 24-YEAR-OLD man was
arraigned in Magistrate’s Court
yesterday, charged in the mur-
der of an Eleuthera man whose
body was found inside a bar-
rel.

John Deieur, alias File YFo-
dra, of Hatchet Bay, Eleuthera,
stands accused of killing Alice
Saintilam, 65.

It is alleged that Deieur
intentionally caused Saintilma’s
death between January 15 and
19.

The body of Saintilam, of
Cambridge Street, Hatchet
Bay, was found in a barrel on a
track road.

Deieur was not represented
by an attorney yesterday during
his arraignment before Magis-
trate Ancella Williams in Court
6, Parliament Street.

When asked whether he
understood the charge against



CHARGED: 24-year-old John Deieur appeared in court yesterday.
Tim Clarke/Tribune staff

him Deieur told the magistrate,
“T didn’t kill him.”

He was told that he was not
required to enter a plea to the
murder charge but stated, “I
am not guilty.”

Deieur was ordered to be
remanded to Her Majesty’s
Prison. The case was adjourned
to Court 10, Nassau Street.

Deieur is expected back in
court on January 31.

‘Actual work imminent’
on the Baha Mar project

By CELESTE NIXON
Tribune Staff Reporter
cnixon@tribunemedia.net

“ACTUAL work is imminent” on the Baha
Mar project, according to the VP of external
affairs for the highly anticipated development.

Robert "Sandy" Sands said construction of the
single-phase $2.6 billion project should begin the
second or third week of February.

“We have just about completed all legal work
for ground breaking,” said Mr Sands.

He said they are currently in the process of
co-ordinating schedules for special guests to make
sure they can all arrive at the same time.

Mr Sands added: “It is very likely that work will
start prior to the ground breaking date. Actual

work will be imminent.”

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

A DOCUMENTARY about
the human impact of a devas-
tatingly high murder toll made
by Abaco filmmakers Logger-
head Productions has been
released on their new video
website Conch Salad TV this
week.

The seven minute piece
“Marching for Justice” by
Matthew and Lindsey McCoy,
of Hope Town, Elbow Cay,
breaks down the brutalising
record of 96 murders last year,
that is 30 per 100,000 residents,
and focuses on the relatives of
those who were killed and
marched through the streets of
Nassau crying out for justice.

Workers Party leader and
activist Rodney Moncur has
been organising marches to call
for murderers to be hanged and
the murder accused denied bail
since his cousin Khodee Davis
was fatally stabbed in May 2008
near Cabbage Beach on Par-
adise Island.

Mr and Mrs McCoy fol-
lowed two of these marches, at
which hundreds of Bahamians
lent their support, but also
spoke to relatives of the mur-
dered in depth.

The film features emotional
interviews with family mem-
bers, including a brother of
Leonard Johnson, 21, who was
stabbed at the Evangelistic
Church Temple construction
site in Collins Avenue, and
Ragged Island church minister

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

Hopes are high that the mega-project will pro-
vide tremendous economic benefits for the
Bahamas, creating thousands of permanent jobs
and numerous opportunities for contractors and

construction workers.

It is thought that the project will create 4,000
jobs during the construction phase. Some $400
million in work packages has been designated
for Bahamian contractors.

In a previous interview with The Tribune, Mr

Sands said the development will contribute $14.8
billion to the Bahamas’ Gross Domestic Prod-
uct over 20 years, and generate $500 billion in
incremental government taxes over 25 years.
Tribune sources say clearing work near the site
of the old Nassau Beach Hotel on the Cable
Beach strip has already begun. It is thought this

may be the site of the ground breaking ceremony.

Documentary focuses on the
human apart of murder toll



BEREAVED FAMILIES marching for justice.

Marjorie Wallace, whose grand-
daughter She’Anda Newton,
17, was slain and dumped in an
overgrown area off the Charles
Saunders Highway.

“Everyone understands that
the murder rate is high,” Mr
McCoy said.

“But the human element of
the story seems to be lost in the
bigger picture of anarchy.

“We just want to put the
real human element out there,
and maybe start a conversation
about what’s going on and what
the solutions are.”

As well as posting the video,
the couple created a website
where grieving families can post
words and pictures in tribute
to the murdered.

“People said they didn’t
want their brother or their son
to be forgotten,” Mrs McCoy
said.

“So we created the website
separately because we wanted

some place to preserve their
memory and their story.”

Mr and Mrs McCoy hope
bereaved families and friends
will embrace the website
Bahamas Remembers, as they
continue their work to build a
diverse range of videos for
Conch Salad TV.

Since launching the video
website with a lively conch-
cracking contest on December
1, Loggerhead Productions
have posted their Bahamas
International Film Festival fea-
tured documentary “The Lion-
fish Invasion,” funded by
Friends of the Environment,
and now Marching for Justice.

Future film plans include an
archaelogical exploration in
Abaco, and a political satire.

To see Marching for Justice
and other films log on to
www.conchsaladtv.com, and
pay tribute to the murdered at
www.bahamasremembers.com.

including a juvenile, who was
charged with eight counts of
burglary and stealing.

“In an effort to increase
awareness among residents,
police officers participated in
numerous walk-abouts, com-
munity meetings, church visi-
tations and school visits. These
were all in an effort to reduce
the fear of crime and at the
same time provide safety tips
for the community at large,”
said Mr Cunningham.

This year, Family Island res-
idents can expect “aggressive
stop-and-search initiatives” to
continue, as the police seek to

crack down on road traffic
infractions.

“The objectives of the Royal
Bahamas Police Force is to
reduce the fear of crime within
the communities, ensure that
crime is minimised and
strengthen relationships with
other government agencies and
community partners. We the
members of the Royal
Bahamas Police Force in the
Family Islands will redouble
our efforts in 2011 in the fight
against crime; as together we
strive to make the Bahamas a
safer place to live, work, visit
and play,” he said.

Man gets extension to appeal
20-year sentence, conviction

A MAN sentenced to 20
years imprisonment on an
attempted armed robbery
charge was granted an exten-
sion of time yesterday to appeal
his sentence and conviction.

Bradley Saunders, 24, was
convicted and sentenced last
November for the attempted
armed robbery of Joan Algios.

Saunders was in the Court of
Appeal yesterday, where his
request for an extension was
granted.

His appeal is expected to be
heard on March 14. He is rep-
resented by attorney Donna
Major.

Saunders stood trial with 20-
year-old Ebenezer Sherman,
who was convicted and sen-
tenced to 25 years in prison for
the attempted murder of

FOR 3 IN 1 LAWN SERVICE
eager
eM
ee Tee:
hitae aby

Algios’ friend, New Jersey
police officer John Casper on
May 14, 2008.

Sergeant Casper was shot in
the chest while walking with
friends on the Cable Beach
strip in the area of Ruby
Avenue, not far from the resi-
dence of former prime minis-
ter Perry Christie.

Mr Casper was vacationing
in Nassau at the time, and was
attempting to prevent an
assailant from snatching Mrs
Algios' handbag when he was
shot.







"Want To service
your car, but work
downtown? Drop it
off early - we'll take
you to work!"

Bay St. Garage
service Department,

POLICE HUNT
_ FOR ARMED
_CARJACKER

POLICE are hunting for
an armed carjacker who
escaped capture in the area
of East Street South on
Monday night.

Press liaison officer
Sergeant Chrislyn Skip-
pings said police were
called to the scene of an
armed robbery at Gibbs
Corner around 9.15 pm.

Officers were told that
during the robbery a vic-
tim's car was stolen.

Police issued an all-
points bulletin and officers
on mobile patrol were able
to intercept the stolen vehi-
cle in the area of East
Street South.

Sgt Skippings said police
recovered one 9mm pistol
and 18 live rounds of
ammunition.

However, the suspect
jumped out of the stolen
vehicle and escaped.

"An intense search is
underway to locate the sus-
pect in this matter," said
Sgt Skippings.

Meanwhile, police
arrested a Carmichael
Road man after officers
found a 40 Glock pistol
and 12 live rounds of
ammunition in his home.

Police executed a search
warrant at the home
around 7.30pm on Monday.

The man is expected to
be charged in the Magis-
trate’s Court sometime this
week.

SCastrol
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Distributed By

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PAGE 4, WEDNESDAY, JANUARY 26, 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

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

150 years of dieting fads and still no quick fix

WASHINGTON — Before modern weight
loss fads, there was William Banting. He
invented the low-carb diet of 1863. Even then
Americans were trying out advice that urged
fish, mutton or "any meat except pork" for
breakfast, lunch and dinner — hold the pota-
toes, please.

It turns out our obsession with weight and
how to lose it dates back at least 150 years.
And while now we say "overweight" instead
of "corpulent" — and obesity has become
epidemic — a look back at dieting history
shows what hasn't changed is the quest for an
easy fix.

"We grossly, grossly underestimate" the
difficulty of changing behaviours that fuel
obesity, says Clemson University sociologist
Ellen Granberg, who examined archives at
the Library of Congress. She believes it's
important to show "we're not dealing with
some brand new, scary phenomenon we've
never dealt with before."

Indeed, the aging documents are eerily
familiar.

Consider Englishman William Banting's
account of losing almost 50 pounds in a year.
He did it by shunning "bread, butter, milk,
sugar, beer and potatoes, which had been the
main (and I thought innocent) elements of
my existence" in favour of loads of meat.

His pamphlet, "Letter on Corpulence,
Addressed to the Public,” quickly crossed the
Atlantic and become so popular here that
"banting” became slang for dieting, Granberg
says.

While obesity has rapidly surged in the
last few decades, we first changed from a
nation where being plump was desirable into
a nation of on-again, off-again dieters around
the end of the 19th century, Granberg says.

Before then, people figured a little extra
weight might help withstand infectious dis-
eases that vaccines and antibiotics later would
tame. It also was a sign of prosperity. But just
as doctors today bemoan a high-tech, immo-
bile society, the emergence of trolleys, cars
and other machinery in the late 19th century
scaled back the sheer number of calories peo-
ple once burned, Granberg explains. Increas-
ing prosperity meant easier access to food.

"An excess of flesh is to be looked upon as
one of the most objectionable forms of dis-
ease," the Philadelphia Cookbook declared in
1900. Low-cal cookbooks hadn't arrived yet;
the calorie wasn't quite in vogue.

By 1903, La Parle obesity soap that "nev-

er fails to reduce flesh" was selling at a pricey
$1 a bar. The Louisenbad Reduction Salt
pledged to "wash away your fat." Soon came
an exercise machine, the Graybar Stimulator
to jiggle the pounds. Bile Beans promoted a
laxative approach. As the U.S. government
prepares to update US. dietary guidelines
next week, the Library of Congress culled its
archives and, with Weight Watchers Interna-
tional, gathered experts recently to discuss
this country's history of weight loss.

Granberg recounted how real nutrition
science was born.

The government's first advice to balance
proteins, carbohydrates and fat came in 1894.
A few years later, life insurance companies
reported that being overweight raised the risk
of death. In 1916, the Department of Agri-
culture came up with the five food groups.
Around World War I, charts showing ideal
weight-for-height emerged, surprisingly close
to what today is considered a healthy body
mass index.

Diet foods quickly followed, as did weight
loss support groups like Overeaters Anony-
mous and Weight Watchers — putting today's
diet infrastructure in place by 1970, Granberg
says. Yet fast-forward and two-thirds of
Americans today are either overweight or
obese, and childhood obesity has tripled in
the past three decades. Weight-loss surgery is
skyrocketing. Diet pills have been pulled from
the market for deadly side effects, with only a
few possible new ones in the pipeline.

More and more, specialists question how
our society and culture fuel overeating.

"Should it be socially desirable to walk
down the street with a 30-ounce Big Gulp"
drink ? asks Patrick O'Neill, president-elect of
The Obesity Society and weight-management
director at the Medical University of South
Carolina.

Negotiating a weight-loss menu for a fam-
ily with different food preferences is a mine-
field that affects how people feel about them-
selves and their relationships with loved ones,
adds Clemson's Granberg, who began study-
ing the sociology of obesity after losing 120
pounds herself.

"If what you need is a nutritionally sound,
healthful weight-loss plan, you can get 100 of
them," she says. "That, we have figured out in
the last 100 years. It's how to do all this other
stuff that I think is the real challenge."

(This article was written by Lauran Neer-
gaard, AP Medical Writer).

Bedding 8
Appliances

EDITOR, The Tribune.

The Bahamas Parliament
recently debated amend-
ments to the Business
Licence Act in an effort to
increase revenue as a result
of the governments precari-
ous financial position. In the
process, some businesses
were granted lower tax rates
than others.

Mr. Ryan Pinder, MP for
Elizabeth, wondering why
government chose to lower
the tax for certain business-
es, claimed they were "gen-
erally supporters of the
FNM" and this was public
policy for special interest
groups. (The Tribune,
Thursday, January 20, 2011).

Of course special interest
politics, if that's what we're
secing here, is nothing new.





EDITOR, The Tribune.

It took a while to digest
what was being put forth in
the interview of Atlantis
CEO, Mr George Markan-
tonis.

He had a lot to say about
what he expected from the
Government of the
Bahamas, but the context of
his demands had more to do
with the impact those
demands would have on the
Bahamian people.

He uses the word reform
very loosely but what he is
talking about is a radical lib-
eralisation of the gambling
laws in the Bahamas.

The tone of the interview
suggested that this was a
decision the Government
could make on its own, and
there was a kind of imme-
diacy that gave me the
impression that the CEO
was more concerned about
ongoing profitability, but
this is a matter that will be
decided by the Government
and the people of the

eS
a Bo hour *

LETTERS

letters@tribunemedia.net



As Dr. Steve Horwitz points
out recently in The Free-
man "...all political officials
gain from providing benefits
to the private sector, hoping
different politicians and
bureaucrats will do better is
just rearranging the deck
chairs on the Titanic. "

Mr. Pinder confirms this
when he is quoted as saying:
"Enough with the catering to
special interests. An alterna-
tive would be for a reduced
business license fee for small,
growing companies..." etc,
etc.

In other words, the spe-
cial interest group that

Bahamas. The interpreta-
tion of what was said,
required a word study.

Reform means one thing
and liberalisation means
something else and we usu-
ally take our cues from the-
ologians and religionists as
we try to make sense of
these words in every day life,
but one rule is supreme, you
have to find the context.

I have not seen the report
that the Minister of Tourism
is presenting next month,
but knowing what was dis-
cussed in the past and the
boundaries of the current
legislation, I can take a wild
guess and speculate that
those recommendations in
that report will focus on the
issue of Bahamians being
able to gamble anywhere in
the Bahamas.

Personally, I have a prob-
lem with gambling in the
Bahamas, but the decision
on the issue of liberalisation
should not be driven by the
fact that Atlantis is fearful
of the competition that will
come from Jamaica.

The bottom line is that
anticipated losses of Atlantis
will be made up for by the
government affecting legis-
lation that will allow
Bahamians to gamble over
the bridge and if this is what
the deal is, it is no deal at
all.

We will be “paying” with
some money that we cannot
afford to spend. If the gam-

LIVING $+

Politics —a
contest for
sovernment
favours?

should get the benefits using
the power of Government
should be chosen by Mr.
Pinder and not the current
Minister of Finance.

If it is all special interest
policymaking, they're both
wrong. This then begs the
question if any government
has the right to dig into tax-
payer wallets whenever
they've borrowed and spent
the country into a difficult
spot like the world recession
has highlighted.

If only for future genera-
tions, politics should be
more than a fight to deter-
mine who gets the privilege
to grant government favours
at taxpayer expense?

THE NASSAU
INSTITUTE
www.nassauinstitute.org

Gambling laws must not be changed because
someone is having problem with bottom line

bling laws are amended in
this regard, then Atlantis
will truly be the largest
“employer” in the Bahamas.

As a precaution, the Gov-
ernment has to regulate
what is going on with gam-
bling, locally, if just to avoid
the hypocritical backlash
that is sure to follow if “lib-
eralisation” happens. It will
be much easier to “reform”
or “liberalise” since both
sides of the gambling spec-
trum are regulated and then
at that point the citizens of
the nation decide.

The sticking point being
that the Bridge allows for
two way traffic, since gam-
bling over the hill is just as
lucrative as gambling on
Paradise Island or Cable
Beach can be just as lucra-
tive as gambling in Nassau.

Every time the Prime
Minister has a chance to
take a breather, it seems like
something comes up, and
this issue has referendum
written all over it.

Our laws on gambling
may need change, adjust-
ment or liberalisation, but it
must not be done because
someone is having a prob-
lem with their bottom line.

EDWARD
HUTCHESON
Nassau,

January 25, 2011.

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THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 5



LOCAL NEWS

Bahamas signs agreement to see
firearms tagged and tracked

STATISTICS
‘LIKELY TO
SHOW 2010
HAD MOST
VISITORS’

A FINAL tally of
last year’s tourism sta-
tistics will likely show
that 2010 was the year
the Bahamas received
its highest number of
visitors.

Tourism Permanent
Secretary Hyacinth
Pratt made this state-
ment at the Cacique
Awards mass at St
Barnabas Anglican
Church last Sunday.

Addressing the
congregation, Ms
Pratt said it is only
the second time in his-
tory that the Bahamas
received more than
five million visitors.

Spending

Most of the visitors
were cruise passen-
gers, and the ministry
is now looking to
attract more stopover
visitors, who tradi-
tionally are higher
spending visitors, she
said.

The church service
served as a national
call for personal and
professional improve-
ment in the tourism
sector.

As industry repre-
sentatives attended
the service before the
Cacique Awards are
held on Friday, Canon
Basil L Tynes focused
on the need for posi-
tive change in the
country. He said
Bahamians must look
for divine assistance
as they seek to better
themselves and their
competitive position.

“T want to challenge
you all in tourism like
the rest of us, stop
looking at the chal-
lenges of the situa-
tion. Stop looking at
the darkness of the
hour,” he said.

Development

Canon Tynes said
the Ministry of
Tourism and Aviation
cannot continue to do
the same things if it is
to remain on the cut-
ting edge of develop-
ments.

“Some of you have
to change,” he said.

Ms Pratt said the
ministry is moving to
improve business by
reorganising and mak-
ing several positive
changes.

At the moment, she
said, teams have been
assembled within the
ministry to make steps
toward reinvigorating
the visitor’s experi-
ence and many other
areas.

While the high visi-
tor numbers are
something to be cele-
brated, Ms Pratt said
“we still must improve
on many aspects of
our product and ser-
vice to keep our visi-
tors satisfied.”

“While we are busy
attracting millions of
visitors, we must also
be busy giving them
the type of service
and experiences that
will sustain our busi-
ness.”

The Cacique
Awards will be held at
the Rainforest The-
atre, Wyndham Nas-
sau Beach on Friday
at 8pm.

The awards, which
are designed to hon-
our and encourage
top performers in
tourism and related
areas, will bestow
Duho trophies on
winners in 18 cate-
gories.

By KHYLE QUINCY
PARKER

Press Attaché

Embassy of the

Bahamas

WASHINGTON, DC -
The Bahamas signed an
anti-gun co-operation
agreement with hemi-
spheric partners on Tues-
day which will make it
possible for firearms to be
marked and tracked.

The agreement, “Pro-
moting Firearms Marking
in Latin America and the
Caribbean” will give local
law enforcement agencies
access to the training and
equipment needed to
make gun tracking possi-
ble.

Ambassador Cornelius
Smith, permanent repre-
sentative of the Bahamas
to the Organisation of
American States (OAS),
called the project “very
important for [The
Bahamas] because we
have become a transit
point for drugs and small
arms.

“The marking = of
firearms helps us identify
the weapons that have
been used in criminal
activity, and therefore
helps to combat crime in
the region,” he said.

Other parties to the co-
operation agreement are:
the General Secretariat of
the OAS (GS/OAS) and
the governments of Costa
Rica, Paraguay and
Uruguay.

These are the first coun-
tries to sign such an agree-
ment in the framework of
the Inter-American Con-

REPRESENTATIVES from the Bahamas, Costa Rica,
Paraguay, Uruguay, the US and the OAS General Sec-
retariat signed a joint co-operation agreement aimed at
increasing the ability of law enforcement to track light
arms to their point of origin. Photo/OAS

vention against the Illicit
Manufacturing and Traf-
ficking in Firearms,
Ammunition, Explosives
and Related Materials
(CIFTA).

CIFTA posits that mark-
ing firearms helps combat
illicit gun trafficking as it
allows authorities to iden-
tify seized weapons to
determine their origin.

Through this agreement,
the OAS aims to strength-
en national capacities in
illicit firearms trafficking
and provide marking

equipment and training to
beneficiary countries.

In accordance with the
pact, the OAS agreed to
provide a marking
machine and accessories
to the Ministry of Nation-
al Security and provide
training in the use of this
equipment.

These assets, once deliv-
ered, will become the
property of the govern-
ment of the Bahamas.

The Bahamas, in turn, is
obligated to provide the
GS/OAS with information

Pot aa Ne

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on the country’s capacity
and needs with respect to
firearms marking, record-
ing and tracing.

The Bahamas also
agreed - among other
things — to co-operate with
the GS/OAS on follow-up
missions and to mark an
average of 100 firearms
per month for the first 12
months after receiving the
machine.

During the signing cere-
mony, OAS Secretary
General José Miguel
Insulza affirmed the
organisation’s intent to
develop and strengthen
national capacities of the
co-operating countries to
combat illicit-arms traf-
ficking through: advice on
the development of model
legislation, exchange of
best practices, gathering
and analysing statistical
information, and offering
technical assistance.

Representatives of the

i a
EXTERMINATORS
Wee ena
PHONE: 322-2157



governments of Costa
Rica, Paraguay and
Uruguay also called for
gun crime to be consid-
ered a major scourge that
must be faced by every
nation.

The project is being
funded by the United
States. US permanent rep-
resentative, Ambassador
Carmen Lomellin, encour-
aged OAS member states
to continue implementing
measures to combat this
scourge.

“Concrete steps by indi-
vidual countries and col-
lective steps by regional
and international organi-
sations can go a long way
through combating arms
trafficking,” she said.







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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 6, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE



LOCAL NEWS



Egypt offers scholarships to Bahamians

By BETTY VEDRINE

TWO scholarships and
possibly a third will be
available to Bahamians
wishing to pursue an edu-
cation in Egypt.

The scholarships — one
in agriculture and the oth-
er in the Arabic language —
are being offered by the
Egyptian government. The
third scholarship, which is
currently not yet con-
firmed, would be in
tourism.

The announcement was
made on Monday during a
courtesy call on Education
Minister Desmond Bannis-
ter by Assistant Foreign
Minister for the Americas
El] Husseini Abdelwahab
and Egyptian Ambassador
to the Bahamas (stationed
in the Republic of Cuba)
Tarek Elwassimy.

The Egyptian delegates
hope to form partnerships
with the various govern-
ment sectors in order to
facilitate the scholarships.
The meeting was held at
the Ministry of Education
on East Street South.

Mr Bannister welcomed
the Egyptian delegates and
thanked them for their
“generous” gift.

“We are very pleased to
have you here in the
Bahamas and pleased to
hear that there are possi-
bly some opportunity avail-
able for Bahamians wish-
ing to pursue higher edu-
cation in your country,” the
minister said.

Mr Abdelwahab said he
was delighted to be in the
Bahamas for the second
time.

“It gives us great plea-
sure to be in the Bahamas
— our second time for both
of us,” he said. “The first
time as a tourist and now



PICTURED FROM LEFT TO RIGHT: Deputy D

+



irector of Education Patricia Collins: Director of Education for Higher Learning Dr Leon Higgs; Permanent Secreta





ry to

the Ministry of Education Elma Garraway; Assistant Foreign Minister for the Americas El Husseini Abdelwahab; Education Minister Desmond Bannister; Egyptian
Ambassador to the Bahamas, Tarek Elwassimy and Director of Education Lionel Sands.

as an official trying to pro-
mote our relationship with
your country.”

Mr Bannister added that
the scholarships would give
Bahamians the opportunity
to be exposed to another
culture.

“As you know, educa-
tion bridges gaps we some-
times don’t perceive to be
there. We are grateful for
these opportunities and
hopefully students from
your country would also
wish to pursue education
and other cultural
exchanges available in our
country,” he said.

The delegates also paid
visits to the Minister of
Foreign Affairs Brent
Symonette; Minister of
Youth, Sports and Culture
Charles Maynard and the
Minister of Tourism and
Aviation Senator Vincent
Vanderpool-Wallace.

February 2nd - 4th, 2011

- q — H
ps - _ —_ _

ASSISTANT FOREIGN MINISTER for the Americas El Husseini Abdelwahab and Egyptian Ambassador to the Bahamas Tarek Elwassimy



pay a courtesy call on Minister of Education Desmond Bannister at the Ministry of Education. Pictured left to right: Minister Bannis-
ter, Mr Abdelwahab and Mr. Elwassimy.

Bahamas to host International Society
of Family Law regional conference

zeba hamas
of ie

“

a

“MARITIME SECTOR AND THE ENVIRONMENT”

Our Lucaya Beach & Golf Resort, Freeport, Grand Bahama

Firm Name

Firm Category
Oo Suppliers

o Oil Companies

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Firm Description

P.O. Box
City
State/Province

Country

Zip/Postal Code

Participant 1:
Participant 2:
Participant 3:
Participant 4:
Participant 5:
Participant 6:
Participant 7:
Participant 8:
Participant 9:

Participant 10:




Ministry of Th

REGISTRATION FORM

| Cruise Lines

| Cargo Container Ships

Oo Tug Operators

| Others

é Environment, Deckendale House

MORE than 40 distinguished presenters from
around the world are set to deliver papers at the
International Society of Family Law regional
conference in March.

Presenters will be jurists, legal scholars, psy-
chologists, social workers and educators from
the Caribbean, Canada, the UK, the US, Ger-
many, Sweden and Serbia.

Among them will be Lord Justice Matthew
Thorpe from the Court of Appeal of England
and Wales; Justice Nancy Flatters from the Cal-
gary Family and Youth Court in Alberta, Cana-
da; Professor Dr Jane Adolphe of Ave Maria
Law School, an expert in family law, interna-
tional law, criminal law and canon law, who has
acted as the delegate for the Holy See at various
regional and international conferences; and Pro-
fessor Dr Bill Doherty of the University of Min-
nesota, an educator, researcher, writer, thera-
pist and media personality.

The theme of the conference is the legal and
social consequences of the disintegration and
reintegration of families.

Matters to be discussed include: marriage and
divorce, cohabitation, property distribution, medi-
ation, paternity and inheritance; transracial, inter-
country and same-sex adoption; assisted repro-
duction and ethical issues, child development,
international child abduction, juvenile delin-

quency, domestic violence, human rights and
the family and same sex marriages.

Participants have been urged to take advantage
of the discount for early registration.

The planning committee announced that “ear-
ly bird registration” will save participants $50, as
from February 1, the cost will increase from $350
to $400.

The statement said the registration fee includes
conference materials, breakfast, lunch and snacks.

The conference will take place from March
17 to 19 at the British Colonial Hilton Hotel. It is
being hosted by the Eugene Dupuch Law School.

Registration forms are available on the con-
ference’s website:
http://www.law2.byu.edu/isfl/201 1bahamasconf.

On the morning of March 17, there will be a
pre-conference Judges’ Forum on Judicial Dis-
pute Resolution conducted by Justice Flatters
and a simultaneous Students’ Forum conducted
by Dr Leighton Jackson of UWI Faculty of Law
in Jamaica, Tracy Robinson of UWI Faculty of
Law at Cave Hill and Lord Justice Thorpe.

“Participants will benefit from an attractive
rate from the conference hotel and a discounted
airfare from American Airlines. Attractive tours
to scenic tourist sites, including Atlantis on Par-
adise Island have been planned,” the planning
committee said.

US Re UR TaN



GOVERNOR-General Sir
Arthur Foulkes welcomed to
Government House on Mon-
day students of Henderson
College who completed the
Heritage Site Certification
Course for the Bahamas in
Partnership with the United
States National Park Pro-
gramme.

Pictured left to right seated:
Dr Ann Higgins; Dr Rita
Pratt, president of Henderson
College; Sir Arthur; Gladys
Johnson-Sands, former Con-
sul General.

Standing: Alecca Ramsey,
Clifton Heritage National
Park; Craig Mortimer, special
projects, Ministry of Tourism;

Asa Thompson, Clifton Her-
itage National Park; Vernita
Pratt, Clifton Heritage
National Park; Eden Zonicle,
Cat Island; and Madelyn
Turnquest, grounds supervi-
sor, Clifton Heritage Nation-
al Park.

Derek Smith/BIS

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

WEDNESDAY, JANUARY 26, 2011, PAGE 7



LOCAL NEWS

Sponsors asked to help keep €
depression hotline open

IN THE face
increased suicides ia
attempted suicides in the
Bahamas, the Department
of Social Services is ask-
ing corporate sponsors to
help keep the recently
established depression
telephone hotline going.

The national hotline was
set up in December to
help individuals having
trouble or feeling over-
whelmed to deal with their
issues.

Twenty trained counsel-
lors are available 24-hours
a day to help persons with
any problems they are fac-
ing, and those individuals
needing more counselling
are referred to the Com-
munity Counselling and

Suicides prompt Dept of
Social Services to seek help

Mavis Darling Hill, deputy
director of Department of
Social Services during an
interview at her office last
Friday.

The hotline is a joint ini-
tiative between the Gov-
ernment and the account-
ing firm Grant Thornton
Bahamas; it was officially
launched by Minister of
Labour and Social Devel-
opment Senator Dion
Foulkes.

The deputy director said
she was approached in
August or September 2010
by Andy Paul Gomez,

Thornton Bahamas, after
he became concerned over
the number of persons
committing or attempting
to commit suicide; persons
having difficulties handling
their problems or strug-
gling with being unem-
ployed.

The accounting firm has
handled all the expenses
that have been incurred
since the initiative began,
she said.

“Grant Thornton start-
ed the initiative and we
are very grateful to them,”
Mrs Darling Hill said.

Assessment Centre, said

managing partner of Grant

“However, it can be

Immigration Dept ‘does not
have handle on citizenship
applications backlog’

By SIMON LEWIS

THE Department of Immigration still
does not have a handle on the backlog of
citizenship applications, but is working
through them as quickly as possible,
Deputy Prime Minister and Minister of
Foreign Affairs Brent Symonette said dur-
ing his visit to Freeport last week.

Mr Symonette was in Grand Bahama
to welcome 16 new Bahamian citizens,
one of whom was born in the Turks and
Caicos Islands and has been living in the
Bahamas for some 56 years.

The Foreign Affairs Minister said that
they are trying to clear up the back log of
persons applying for citizenship and that
he tries to come to Grand Bahama on a
regular basis to take part in the swear-
ing-in ceremonies.

He said there are a number of persons
born in the Bahamas who have lived here
all their lives, went through the school
system, and “they obviously have a sense
of frustration that they don’t have citi-
zenship.”

“They feel they are Bahamian, they
know our symbols, they are a part of our
community.

“So for those persons who have been
here for a long time and meet the require-
ments, we are trying to swear them in so
they become citizens,” he said.

With respect to the Immigration Board,
the Deputy Prime Minister said it meets
every Monday in Nassau and that he tries
to meet with the board in Grand Bahama
once a month.

Agenda

He noted, however, that occasionally
the board in Grand Bahama would fax
an agenda down to Nassau for approval,
particularly the urgent ones.

He said part of the problem regarding
timely granting of work permits is largely
the Immigration Department is still man-
ual but once it comes fully into the elec-
tronic system, there should be a turn-
around.

Mr Symonette said he recently toured
the new government complex under con-
struction on the Mall in Freeport, and
that the contractor, Fletcher McIntosh,
is “on time” with his work.

The Department of Immigration is
looking forward to relocating from its cur-
rent location.

“Tf any of you have toured the back
offices of Immigration, I really admire
those persons who work under those con-
ditions, so we hope in August/September
to be in the new offices and that should
give them a new environment to work
in,” he said.

Focusing on unemployment, the minis-
ter brought up the mindset of some
Bahamians with respect to certain jobs.
He noted the number of foreign persons
working at Sanitation Services and the
few Bahamians taking advantage of the
opportunities to be maid and gardeners.

Mr Symonette also advised that his min-
istry has started a new electronic work
permit, a companion project with the
Passport Office.

He said the card will be computer gen-
erated with all the information regarding
the holder, eliminating much of the ques-
tioning process when it's time for renew-
al.

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DEPUTY PRIME MINISTER:
Brent Symonette in Freeport

He said this will apply for work visas,
permanent residents and more.

This process has already started in Nas-
sau.

The Foreign Affairs Minister added that
he also took a look at the Passport Office,
which will be re-located to the new build-
ing when completed.

Passports

He said that during 2010, the Depart-
ment in Grand Bahama issued some 8,800
passports. He feels that they are doing
well and have “ironed out most of the
kinks.”

During his two-day visit to Grand
Bahama, Mr Symonette met with 13 exec-
utives from several major companies,
including Grand Bahama Power, Grand
Bahama Ship Yard, Pharmachem and Our
Lucaya Resort during his two-day visit to
the island.

He also met with two top executives
from the Professional Engineers Board
as well as addressing participants attend-
ing the International Business and
Finance Summit held at the Our Lucaya
Resort January 21 - 23.



expensive just for one cor-
poration to take this ser-
vice on; it really is an
unselfish deed.”

Although, Mr Gomez
has been in talks with
another firm to take over
the expenses starting in
February, the ministry is
also asking other corpo-
rate sponsors to come
onboard.

Mrs Darling Hill said
persons believe that once
things are going well for
them, the problems or
dilemmas affecting others
are not their concern.

“However, our lives are
intertwined and we ought
to realise that if an indi-
vidual is having a difficult
time, his or her children
might be affected as well,
and that is where the prob-
lem comes into play. That
is where we get lots of
problems with crime.

“Parents are upset and
not able to cope properly
or adequately, and so it is
transferred to their chil-
dren who feel that the sys-
tem is not being very kind
to them. So they get to the
point where they are con-
stantly angry, not under-
standing why there they
angry and they strike out
at society,” she said.

“So we are asking busi-
ness houses throughout
the Bahamas to come for-
ward and assist.”

Mrs Darling Hill also
reminded the public that
all calls to the hotline are
confidential.

A sedan ahead.

TIIDA

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She noted that some
persons have been very
forthcoming, while others
have been very hesitant to
give information that
could lead to further assis-
tance.

She said family, friends,
colleagues, and acquain-
tances of persons having
problems should encour-
age them to utilise the ser-
vice, but if they keep
meeting resistance, and
the situation seems dire,
then the concerned per-
sons should call the hot-
line to receive help on how
else to proceed.

Dr Kirk Christie, a psy-
chiatrist at the Sandilands
Rehabilitation Centre, is
conducting sessions with
the counsellors to keep
their skills sharp, she said.

Mrs Darling Hill
thanked the other partners
of the programme includ-
ing the Bahamas Telecom-
munications Department,
which has been supplying
the cell phones, and the
police who lend their assis-
tance when callers need
immediate attention as the
counsellors cannot go toa
scene for themselves.

“We do not want to lose
a life because someone is
having a difficulty. There
is always a solution and
that is what we are trying
to preach here,” she said.

Anyone experiencing
difficulties, stress, depres-
sion or suicidal thoughts
is asked to call the hotline
at 322-2763.

Re-Introducing the 2011
NISSAN TIIDA





SHAWN FEASTER

MAN WANTED FOR
QUESTIONING

POLICE are on the
lookout for Shawn Feast-
er who is wanted for
questioning in connection
with stolen vehicles.

The Central Detective
Unit has issued an all-
points bulletin for the 38-
year-old whose last
known address is But-
tonwood Avenue in
Pinewood Gardens.

He has a brown com-
plexion, is 5’9” tall and
weighs approximately
170Ibs with a slim build.

Police caution that he
is considered armed and
dangerous.

Anyone with informa-
tion on Feaster’s where-
abouts should call police
at 919/911, the Central
Detective Unit at 502-
9930/9991, the Police
Control Room 322-3333,
Crime Stoppers 328-8477
or the nearest police sta-
tion.

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PAGE 8, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





‘Greatest single threat’ to
Bahamas seafood resources

By LARRY SMITH

A RECENT report by a
leading University of Miami
marine scientist has confirmed
that poaching by commercial
fishermen from the Domini-
can Republic is the greatest
single threat to Bahamian
seafood resources.

The report on illegal, unre-
ported and unregulated (IUU)
fishing was produced for the
Bahamas Lobster Fisheries
Improvement Project. This ini-
tiative is sponsored by local
seafood processors in a bid to
win endorsement for Bahami-
an crawfish exports under the
European Union's new Catch
Certification programme.

Without this endorsement,
which is aimed at reducing the
over-exploitation of global fish-
ery resources, Bahamian lob-
sters will be banned from the
EU. And this lucrative market
takes about 40 per cent of the
12.5 million lobsters we legally
export every year (based on a
four-year average), a catch val-
ued at more than $87 million.

EU certification requires
that lobsters are received only
from licensed vessels using
legal methods — meaning that
only crawfish of legal size and
condition are harvested. All
fishery products must be prop-
erly documented upon land-
ing, with guarantees that
exports are not derived from
IUU fishing.

Tronically, this is one of the
main difficulties in dealing with
illegal fishing in Bahamian
waters. The Dominican
Republic has a population of
9.6 million (compared to only
353,000 Bahamians), and it
receives more than four mil-

TOUGH CALL

ARRY SMITH

lion air/hotel visitors annually.
So that country does not need
to export seafood products and
is immune to pressures from
EU regulations.

Along the northern
Dominican Republic coast are
three major ports and several
huge resort centres, one of
which — Punta Cana — has
more hotel rooms than the
entire Bahamas. The size of
the Dominican tourism indus-
try presents an almost unlimit-
ed demand for luxury seafood.
And Punta Cana hotels have
lobster on the menu for US$16,
about half the price of a typical
lobster tail dinner in Nassau.

As well, American statistics
show that 89,000 pounds of
lobster tails were legally
imported from the Dominican
Republic in the past year, but
according to international con-
servation organizations, there
are no commercially viable
stocks of spiny lobsters in
Dominican Republic waters.
In these circumstances, it is
obvious where the lobsters for
Dominican resorts and
exporters are coming from.

From the Dominican
Republic's northern coast, it
takes less than three days to
reach the Great Bahama Bank
in a fishing vessel making 10-12
knots. These vessels are typi-
cally 65 feet long, and each is
attended by a number of small-
er skiffs. Fishermen operate



from the skiffs using hookahs
and spears, at depths well
below 60 feet. And divers fish
to depths of over 200 feet,
reaching deep reef resources
not legally fished by Bahami-
ans, according to the IUU
report.

"The potential for large ille-
gal lobster landings in the
Dominican Republic is huge.
The implications in terms of
lost jobs, lost revenue to the
government, and lost fisheries
resources is in the tens of mil-
lions of dollars," the IUU
report warned. "This is a seri-
ous threat to national security
and economic growth.”

The report was produced
by Dr Kathleen Sullivan
Sealey, of the University of
Miami's highly respected
Rosenstiel School of Marine
Science. She has decades of
experience working in marine
conservation in the Bahamas
and was formerly Dean of the
College of the Bahamas sci-
ence division.

Crawfish are the most
important marine resource we
have, so we need to take care
of it. In addition to export
earnings, this fishery provides
jobs, economic diversity and is
an important tourist attraction.
Aside from recreational fish-
ing by visitors, lobster meals
are one of the highlights of vis-
iting The Bahamas, and inter-
views confirm that diners

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CRAWFISH are the most important marine resource we have.

would like to enjoy a guilt-free
meal. Bahamians also eat lob-
ster, and expect this seafood
to remain affordable for the
general population.

But in order to protect this
resource, we need accurate
information, and little or none
has been available on the scale
or intensity of illegal fishing or
for legal, non-commercial fish-
ing in the Bahamas. This
undermines fishery manage-
ment efforts and places the
resource at greater risk of over-
exploitation. The IUU report is
an attempt to address this defi-
ciency by looking at consump-
tion by restaurants, recre-
ational fishers and commercial
fishers, including poachers.

Illegal fishing is the har-
vesting of lobster by any means
in violation of the existing laws
and regulations, including
poaching, taking undersized
lobsters, taking lobsters out of
season or using destructive
methods such as bleach. Unre-
ported fishing includes lobsters
that are caught, sold and con-
sumed locally by Bahamians
and visitors, or legally exported
under the sportfishing regula-
tions.

Sullivan Sealey surveyed
restaurants and resorts; inter-
viewed yachters, tourists,
Defence Force officers and
local fishermen; examined data
from seafood processors, and
looked at the lobster market
in the Dominican Republic.
The main conclusions from this
research are that restaurants
may account for 570,000 ille-
gal lobsters a year — about 5
per cent of the current export
quantity; while the unreport-
ed catch could be some 1.5 mil-
lion lobsters —- about 12 per
cent of known export landings.

By far the biggest drain on
the resource is illegal fishing
by foreign vessels, mostly from
the Dominican Republic. US
law prohibits the import of
fishery products that have been
illegally taken, possessed,
transported or sold. This
includes the shipment of lob-
ster from The Bahamas with-
out export permits, or taken
by foreign nationals in excess
of the sportfishing limits (cur-
rently six lobsters per person).
The Cuban fishing industry is
state controlled, and since the
1980 sinking of HMBS Flamin-
go by the Cuban Air Force,
there have been few reports of
poaching by Cuban vessels.

Nevertheless, "Foreign fish-
ing vessels operate across the
southern Bahamas, venturing
further north and across the
Great Bahamas Banks during
the summer when the lobster
fishery is closed to Bahami-
ans,” Sullivan Sealey said.
"There are no accessible
records of sightings of foreign
fishing vessels, but anecdotal
information puts the number
at about six per month.
Reports of illegal immigrants
from Honduras and the
Dominican Republic working
on Bahamian fishing vessels
have also been verified."

Her report says it could be
concluded from the interviews
with Defence Force officers
that the interdiction of poach-
ers is not a priority for the
patrol vessels. "The RBDF is
itself a significant fishing entity,
with both shipboard and
island-based personnel engag-
ing in recreational fishing as a
way to supplement incomes."

Sullivan Sealey estimated
the number of lobsters taken
out of Bahamian waters by
poachers based on 30 vessels
making six trips a year, with a
catch of 10,000 pounds per trip.
"This conservative estimate of
illegal landings is a staggering
35 per cent (or 4.3 million) of
the known export of 12.5 mil-
lion lobsters from the
Bahamas."

However, she pointed out
that as many as 65 fishing ves-
sels could be operating from
northern Dominican Republic
ports, and lobsters are not their
only target. Conch, grouper
and other finfish are also taken,
as all are highly marketable in
the Dominican Republic. And
each vessel could land over
70,000 pounds of catch per trip.

"The key to reducing the
illegal fishing loss is to prevent
illegal fishers from entering
Bahamian waters,” the report
said. "The process of seizures
and prosecutions, along with
the cost associated with hold-
ing the vessels, crew and catch
is largely ineffective. There are
charges of corruption, and
clearly a strong motivation
with the amount of money
involved in the sale of lob-
sters."

Diplomatic efforts to
address the problem are likely
to be more effective, the report
said. along with identifying the
vessels involved and pursuing
their financiers. National Secu-
rity Minister Tommy Turn-
quest told me that the govern-
ment was already pursuing this
option and a spokesperson for
the Ministry of Foreign Affairs
said a Bahamian ambassador
to the Dominican Republic
would soon be appointed to
take matters further.

"The government is also
providing increased resources
to the RBDF to better equip
them to deal with this prob-
lem," Turnquest said. "This
includes the decentralization
of the Defence Force with
boats stationed to respond
quickly. A base is being devel-
oped at Gun Point, Ragged
Island, which is close to the
Great Bahama Bank, our main
fishing grounds."

According to Dr Patricia
Rodgers of the Ministry of For-
eign Affairs, one of the prob-
lems is that poachers have
been receiving fairly light
penalties and are then released.
"It is my understanding that
the relevant Ministries are now
seeking to ensure that persons
or entities who poach in our
waters are charged to the full
extent of the law and the resul-
tant sentences are also to be
published.”



Director of Marine
Resources Michael Braynen
told me his department was
"extremely concerned about
IUU fishing in terms of its
impact on fishermen, on gov-
ernment revenues, and even
more significantly on our fish-
ery resources themselves." He
said British fisheries consultant
Paul Medley has been work-
ing on a stock assessment for
the seafood processors, which
won't be released until after a
series of peer reviews by other
scientists later this year.

Meanwhile, Sullivan Sealey
reports that anecdotal evidence
of migrating lobsters, the abun-
dance of lobsters in nearshore
habitats, and the success rate of
lobster condos in fisheries land-
ings, all suggest that crawfish
numbers are declining.
Although Medley’s prelimi-
nary appraisal indicates that
the fishery is still in fairly good
shape, a staggering number of
lobsters are being removed
from Bahamian waters each
year —- more than 18 million,
according to Sullivan Sealey's
estimates.

She also pointed to the his-
torical damage to lobster habi-
tat throughout the Bahamas.
Even on islands with relatively
small human populations, she
has documented damage at
more than 60 per cent of
coastal survey sites she has
worked on due to the use of
bleach and explosives, and
through destruction of coastal
wetlands and mangrove creeks
that provide juvenile lobster
habitat.

Braynen also acknowledged
that poaching appears to be
increasing year on year,
although it is difficult to say by
how much.

The only indicator he could
offer was that the standard of
the Dominican boats being
apprehended in Bahamian
waters is much improved late-
ly, a sign that greater invest-
ments are being justified by the
illicit returns.

"The greatest number of
lobsters caught and removed
from the ecosystem is likely
through illegal foreign fishing
in Bahamian waters,” Sullivan
Sealey concluded. And she
confirmed the existence of a
large domestic market for lob-
ster in the Dominican Repub-
lic, with a fishing fleet capable
of accessing Bahamian waters.

"Clearly, the most effort
should be put into the docu-
mentation and monitoring of
illegal fisheries landings in the
Dominican Republic,” she told
me. "It is important for the
Bahamas to make formal com-
plaints to the Dominican
Republic, and ultimately, you
have to deal with who is fund-
ing this — better boats, more
fuel, travelling further — there
has to be a lot of money
involved."

What do you think?
Send comments to

larry@tribunemedia.net
Or visit www.bahamapundit.com

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PAGE 10, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE



INTERNATIONAL NEWS



Egyptians denounce Mubarak
and clash with riot police

HAMZA HENDAWI,
Associated Press
CAIRO

Egyptian police fired tear gas and rubber bul-
lets and beat protesters to clear thousands of
people from a central Cairo square Wednesday
after the biggest demonstrations in years against
President Hosni Mubarak's authoritarian rule.

Two protesters and a police officer were killed
in the nationwide demonstrations inspired by
Tunisia's uprising, which also demanded a solu-
tion to Egypt's grinding poverty and were likely
to fuel growing dissent in a presidential election
year.

Mobilized largely on the Internet, the waves of
protesters filled Cairo's central Tahrir — or Lib-
eration — Square on Tuesday, some hurling
rocks and climbing atop armored police trucks.

"Down with Hosni Mubarak, down with the
tyrant,” chanted the crowds. "We don't want
you!" they screamed as thousands of riot police
deployed in a massive security operation that
failed to quell the protests.

As night fell, thousands of demonstrators stood
their ground for what they vowed would be an
all-night sit-in in Tahrir Square just steps away
from parliament and other government build-
ings — blocking the streets and setting the stage
for even more dramatic confrontations.

A large security force moved in around 1 a.m.
Wednesday, arresting people, chasing others into
side streets and filling the square with clouds of
tear gas. Protesters collapsed on the ground with
breathing problems amid the heavy volleys of
tear gas.

The sound of what appeared to be automatic
weapons fire could be heard as riot police and
plainclothes officers chased several hundred pro-
testers who scrambled onto the main road along
the Nile in downtown Cairo. Some 20 officers
were seen brutally beating one protester with
truncheons.

"It got broken up ugly with everything, shoot-
ing, water cannon and (police) running with the
sticks,” said Gigi Ibrahim, who was among the
last protesters to leave the square. "It was a field
of tear gas. The square emptied out so fast.”

Ibrahim said she was hit in her back with some-
thing that felt like a rock. "Some people were hit
in their faces."

Some protesters turned violent amid the crack-
down. They knocked down an empty white police
booth and dragged it for several yards before
setting it on fire, chanting that they want to oust
the regime. A police pickup truck was overturned
and set ablaze behind the famed Egyptian Muse-
um. Protesters also set fire to a metal barricade
and blocked traffic on a major bridge over the
Nile.

Police at the bridge fired tear gas and protest-
ers mounted a charge, forcing officers to retreat,
though they quickly regrouped. Two protesters
with bleeding head wounds were carried off in
ambulances.

Well after midnight, the smell of tear gas drift-
ed throughout central Cairo and riot police
remained deployed in large numbers. Tahrir
Square looked like a battlefield covered with
rocks and debris. The gates of the ruling party
headquarters near the square were smashed.

Scattered groups of protesters were holding



out in several areas. Many were chased by police
vehicles into the Shubra neighborhood, where
the streets were strewn with rocks in a sign of a
heavy confrontation.

Discontent with life in Egypt's authoritarian
police state has simmered under the surface for
years. However, it is Tunisia's popular uprising,
which forced that nation's autocratic ruler from
power, that appears to have pushed young Egyp-
tians into the streets, many for the first time.

"This is the first time I am protesting, but we
have been a cowardly nation. We have to finally
say no,” said Ismail Syed, a hotel worker who
struggles to live on a salary of $50 a month.

"We want to see change, just like in Tunisia,”
said 24-year-old Lamia Rayan.

Revolution

Dubbed a "day of revolution against torture,
poverty, corruption and unemployment," Tues-
day's protests in cities across Egypt began peace-
fully, with police at first showing unusual restraint
in what appeared to be a calculated strategy to
avoid further sullying the image of a security
apparatus widely criticized as corrupt and violent.

With discontent growing over economic woes
and the toppling of Tunisia's president resonating
in the region, it was an acknowledgment of the
need to tread softly by an Egyptian government
that normally responds with swift retribution to
any dissent.

But as crowds filled Tahrir Square — waving
Egyptian and Tunisian flags and adopting the
same protest chants that rang out in the streets of
Tunis — security personnel changed tactics and
the protest turned violent.

At one point, demonstrators attacked a water
cannon truck, opening the driver's door and forc-
ing the man out of the vehicle. As protesters

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PROTESTS: Police are engulfed by their own tear gas at a demonstration in Cairo, Egypt Tuesday, Jan. 25,
2011. Thousands of anti-government protesters, some hurling rocks and climbing atop an armored
police truck, clashed with riot police Tuesday in the center of Cairo in a Tunisia-inspired demonstration to
demand the end of Hosni Mubarak’s nearly 30 years in power.

hurled rocks and dragged metal barricades, offi-
cers beat them back with batons.

Protesters emerged stumbling amid clouds of
acrid tear gas, coughing and covering their faces
with scarves. Some had blood streaming down
their faces. One man fainted. Police dragged
some away and clubbed a journalist, smashing her
glasses and seizing her camera.

The sight of officers beating demonstrators
had particular resonance because Tuesday was a
national holiday honoring the much-feared police.

Like the Tunisian protests, the calls to rally
in Egypt went out on Facebook and Twitter,
with 90,000 people voicing their support.
Throughout the day organizers used Twitter to
give minute-by-minute instructions about where
to gather in an attempt to outmaneuver the
police, until the government blocked it in the
late afternoon. Twitter announced that its service
had been blocked in Egypt at about 11 am. EST
(1600 GMT), and said that Twitter and its appli-
cations had been affected.

After remaining silent throughout the day,
Egypt's government called Tuesday night for an
end to the protests. The Interior Ministry, which
controls the security forces, said authorities want-
ed to let the protesters express their opinions
and accused the crowds of "insisting on provo-
cation."

"Some threw rocks at police ... and others car-
ried out acts of rioting and damage to state insti-
tutions,” it said. The ruling party said some 30,000
protesters had turned out across the country.

"Egyptians have the right to express them-
selves," said Egypt's Foreign Ministry spokesman,
Hosam Zaki. In Washington, Secretary of State
Hillary Rodham Clinton said Egypt's govern-
ment, a key USS. ally in the Middle East, was
stable and Egyptians have the right to protest,
though she urged all parties to avoid violence.

The dead in Tuesday's violence included a
policeman who was hit in the head with a rock in

Cairo, and two protesters who died in the city of
Suez east of Cairo, an Interior Ministry official
said.

Nearly half of Egypt's 80 million people live
under or just above the poverty line, set by the
UN. at $2 a day. The widespread poverty, high
unemployment and rising food prices pose a
threat to Mubarak's regime at a time when ten-
sions between Muslims and Christians are adding
to the nation's woes.

"I support change," said Sami Imam, a 53-
year-old retired teacher who took part in Tues-
day's protests. "The police cannot kill us because
we, to all practical purposes, are already dead,"
said the father of four, clutching Egypt's red,
white and black flag.

"T have not visited the butcher in six months,"
he said, in a reference to Egypt's rising meat
prices. Adding to the uncertainty is that Mubarak,
82 and ailing, has yet to say whether he plans to
run for another six-year term in office. Mubarak
has not appointed a deputy since he became
president in 1981 and is widely thought to be
grooming his son Gamal to succeed him.

The protests also follow a parliamentary elec-
tion marred by allegations of widespread fraud
that saw Mubarak's ruling National Democratic
Party win all but a small number of the chamber's
518 seats. In recent weeks, Mubarak and his son
have repeatedly vowed to ensure that ambitious
economic reforms engineered by the younger
Mubarak over the past decade filter down to the
poor. But that has not happened and there has
been a marked increase in the frequency of street
protests over the economy.

In another parallel with Tunisia, the protests
drew energy from the death of a single young
man: a young Egyptian named Khaled Said
whose family and witnesses say was beaten to
death by two policemen in Alexandria last year.
His slaying has become a rallying point for Egyp-
t's opposition. Tunisia'’s protests were also
sparked by a single death, that of a poor Tunisian
vegetable vendor who set himself on fire to
protest corruption. That act has been copied by at
least six people in Egypt. On Tuesday, mothers
carrying babies joined protesters who chanted,
"Revolution until Victory!" and waved signs
reading "OUT!" inspired by the Tunisian slo-
gan "DEGAGE!" Men sprayed graffiti reading
"Down with Hosni Mubarak."

Some passers-by dismissed the protests, saying
a few thousand of Cairo's 18 million people com-
ing out on the streets was not nearly enough to
force change. "This is all just a waste of time,"
said Ali Mustafa Ibrahim, who works at a ciga-
rette stand. "These are a bunch of kids playing cat
and mouse. ... It's just going to create more prob-
lems and more traffic in the city.”

Among the protesters in Cairo was Alaa al-
Aswany, author of the best-selling "Yacoubian
Building,” which portrays corrupt politicians,
police brutality and terrorism in Egypt.

A keen observer of Egyptian society, al-
Aswany said the demonstrations were an impor-
tant opening for the government's opponents.

"They broke the barrier of fear,” he said. "The
writers of the regime were saying Egypt is not
Tunisia and Egyptians are less educated than
Tunisians. But here is the thing: these young
people proved they can take their rights force-
fully.”

"

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THE TRIBUNE

WEDNESDAY, JANUARY 26, 2011, PAGE 11



INTERNATIONAL NEWS



HAITIS RULING
PARTY DEBATES
CANDIDATE'S
FUTURE

PORT-AU-PRINCE, Haiti
Associated Press|

HAITT'S ruling party held }
closed-door meetings Tues- :
day to decide whether to fight :
for their presidential candi- }
date to remain in the race }
despite U.S. and internation- :

al pressure to drop him.

The quake-torn country’s :
political future hinges on how }
the Inite, or Unity, party han- ;
dles an Organization of :
American States recommen- }
dation that would push out- }
going President Rene Preval's
chosen successor, government ;
construction official Jude ;

Celestin, out of the race.

Doing so would open the :
door for carnival singer }
"Sweet Micky" :
Martelly, a pro-military pop-
ulist, to face former first lady ;
Mirlande Manigat in a runoff. :

The OAS says Martelly, :
whose partisans rioted when :
it looked like he would not }
advance, should have finished ;
second in the fraud-marred }
vote and go to the runoff. Its ;
recommendation, based ona }
sample of the vote, was made i
over the objections of other }
candidates and observers who }
said the entire vote should be :

Michel

thrown out.

"There's no final decision }
yet," the coordinator of }
Preval's Unity party, former }
Sen. Joseph Lambert, told }
The Associated Press in the :

evening.

Earlier in the day, Lambert }
told Radio Metropole that "a :
significant number of candi- }
dates for deputies and senate
dropping }
Celestin to avoid internation- ;

would favor"

al sanctions.

The newspaper Le Nou- }
velliste reported that Celestin }
would concede, citing an }
anonymous government offi-
cial — but that report has not }
been confirmed, and a pre- }
dicted party statement has not :

been made.

The debate centers on the }
OAS election observers’ rec- }
ommendation that fraudulent }
tally sheets from the Nov. 28 }

ballot be excluded.

Based on a review of about }
17 percent of the vote, the }
team said that Celestin and }
Martelly, separated by a few }
hundred ballots in the pre- }
liminary results, should switch ;

places.

Now the United States — }
currently holding nearly $1 }
billion in reconstruction aid }
originally promised for last }
year — is insisting that the }
OAS report be implement- }

ed.

"Sustained support from
the international community, }

including the United States,

requires a credible (electoral) }
process" including "conduct- }
ing second-round elections in }
amanner consistent with the }
recommendations and find- }
ings of the OAS technical }
review," the U.S. ambassador }
to the United Nations, Susan }
Rice, told the U.N. Security ;

Council last week.

President Obama calls for

WASHINGTON
Associated Press

PRESIDENT BARACK
OBAMA called for unity
with newly empowered
Republicans in a State of the
Union policy speech that
laid the foundation for the
second half of his presiden-
tial term and next year's
fight for re-election.

Obama staked out terri-
tory in America's political
center. He defended pro-
grams dear to his Democra-
tic base, including the fed-
eral Social Security pension
program and his health care
overhaul. He promised
investments in clean energy
technology and biomedical
research and criticized tax
cuts for wealthy Americans.

But he also backed some
top priorities of Republi-
cans, who took control of
the House of Representa-
tives this month. He called
for cutting the corporate tax
rate, freezing some federal
spending, shaking up the
federal bureaucracy and
eliminating lawmakers’ pet
projects.

He made a direct appeal
for bipartisan lawmaking:
"We will move forward
together or not at all." The
White House released Oba-
ma's prepared speech about
an hour before he delivered
it.

The nationally televised
address before both cham-
bers of Congress is always
one of America's most
closely watched political
events, but this year's speech
had extra drama.

For the first time in his
two-year presidency, Oba-
ma was appearing before a
divided Congress. After
November elections that
Obama has described as a
"shellacking,” Republicans
narrowed the Democratic
advantage in the Senate as
well as taking control of the
House of Representatives.

Obama, who has rebound-
ed in opinion polls in recent
weeks, was looking to posi-
tion himself above politics,
even as both parties maneu-
ver for advantage ahead of
the 2012 presidential vote.

Obama said the American
people are counting on their
leaders to create jobs in the
United States.

"At stake right now is not
who wins the next election,"
Obama said. "After all, we
just had an election."

Obama focused on feder-
al spending for education,
innovation and infrastruc-
ture as ways the government
can support America's foun-
dation and help businesses
create jobs for a generation.
He was pairing that with a

STATE OF THE UNION: Presi-
dent Barack Obama delivers his
address on Capitol Hill in Wash-
ington, Tuesday. (AP)

call to reduce the federal
debt and to make the gov-
ernment leaner.

The speech comes less
than three weeks after
Democratic Congress-
woman Gabrielle Giffords
was seriously wounded in a
shooting rampage in Tuc-
son, Arizona, that killed six
people.

A seat was to remain
empty in honor of Giffords.
Many in both parties were
to wear black-and-white
lapel pins, signifying the
deaths in Tucson and the
hopes for the survivors.
Family members of some
victims were to sit with first
lady Michelle Obama.

The shooting, though its
motives remain unclear,
prompted a debate about
overheated political rhetoric
and the need to tone down
Washington's fierce parti-
sanship. In an attempt at
unity following the attack,
many Democratic and
Republican lawmakers
decided to break with tradi-
tion and sit together.

But those gestures did not
obscure the sharp political
differences between the par-
ties.

One of the most divisive
issues is federal spending.
Public concern about the
growing federal deficit, now
topping $14 trillion, was a

defining force in the 2010
elections. Spending has
become the central issue for
Republicans.

Obama was looking for
the upper hand with a call
for a five-year freeze on all
discretionary government
spending outside of national
security, the White House
said. That would be almost
identical to the freeze Oba-
ma called for in his address
last year. Ultimately it may
have little effect, as Con-
gress decides the budget on
its own terms.

Indeed, the Republican-
dominated House voted on
Tuesday to return most
domestic spending to 2008,
pre-recession levels. The

256-165 vote came on a sym-
bolic measure that put
Republican lawmakers on
record in favor of cutting
$100 billion from Obama's
budget for the current year.

Republicans also chose
one of their leading voices
on spending cuts, House
Budget Committee Chair-
man Paul Ryan, to deliver
the party's televised
response to Obama.

"We are at a moment,
where if government's
growth is left unchecked and
unchallenged, America's
best century will be consid-
ered our past century,"
Ryan said.

While Obama's speech
included little on foreign

‘unity with the Republicans





affairs, he did announce he
will visit Brazil, Chile and
E] Salvador in March. Oba-
ma also called on Congress
to approve a recently nego-
tiated free-trade agreement
with South Korea as soon as
possible.

Obama also said the US.
stands with the people of
Tunisia and all people striv-
ing for democracy. The pres-
ident said the will of the
people in the North African
country proved more pow-
erful than the rule of a dic-
tator.

Tunisia’s autocratic
leader, President Zine El
Abidine Ben Ali fled the
country Jan. 14 after 23
years in power.

Putin vows revenge for Moscow airport bombing



MOSCOW
Associated Press

PRIME MINISTER Vladimir
Putin has vowed revenge for the sui-
cide bombing that killed 35 people
at a Moscow airport — a familiar
tough-on-terrorism stance that has
underpinned his power but also led to
a rising number of deadly attacks in
Russia.

Lax security also was blamed for
Monday's explosion in the interna-
tional arrivals area of Domodedovo
Airport that also injured 180 people,
with President Dmitry Medvedev on
Tuesday criticizing police and man-
agers at the airport, the largest of
three that serve the capital.

NTV television showed a photo-
graph of what it said was the detached
head of the suspected bomber. Inves-
tigators have said that DNA testing
will be necessary before the man,
who appears to be in his 30s, can be
identified.

A two-second video of the blast
itself, broadcast on state television
and said to be from a closed-circuit
TV camera, showed a burst of flames
and passengers falling and fleeing as
smoke filled the hall.

No one has claimed responsibility
for the attack, but suspicion has fall-
en on Islamist separatists from

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RUSSIAN PRIME MINISTER Vladimir Putin (AP)

Chechnya or elsewhere in the restive
Caucasus region who have been bat-
tling Russian authority for over 15
years.

Chechen insurgents have claimed
responsibility for an array of attacks,
including a double suicide bombing
on Moscow's subway system last year
that killed 40 people. They also have

used Domodedovo Airport before,
with two suicide bombers slipping
through its security in 2004 to kill 90
people aboard flights that took off
from there.

Putin rose to power in 2000 on a
now-famous vow that Chechen rebels
would be hunted down and killed "in
the outhouse." But despite a second

devastating war that brought Chech-
nya back under Moscow's control
and sanctioning the violent rule of
his chosen Chechen leader, Putin has
been unable to wipe out the Islamic
insurgency that has spread across
much of the Caucasus.

A brutal crackdown on the insur-
gency has produced a backlash that
has led to almost daily attacks on
police and security forces in the Cau-
casus and brought the terror to
Moscow.

Muscovites have also seen a sharp
rise in ethnic tensions between Slav-
ic Russians and Muslims from the
Caucasus, many of whom come to
the capital in search of work.

In an effort to address the poverty
and high unemployment that feed
the insurgency, the government has
made ambitious plans to promote
economic development in the Cau-
casus, including the building of five
ski resorts across the mountainous
region.

Putin said last week the govern-
ment would allocate 60 billion rubles
($2 billion) this year toward the con-
struction, but the bulk of the $15 bil-
lion needed is to come from private
investors.

Medvedev has been given the task
of attracting badly needed foreign
investment to Russia, a mission he

will take Wednesday to the World
Economic Forum in Davos, Switzer-
land, where he is to be the main
speaker at the opening session.

The airport bombing undermined
his mission and delayed his depar-
ture for a day. Instead of schmoozing
with CEOs of major global corpora-
tions, Medvedev on Tuesday gave a
tough speech to officials at the Fed-
eral Security Service, the main KGB
successor. He suggested that some of
them could have been at fault and
told them to do everything possible to
find those responsible.

"The nest of these bandits, how-
ever they are called, should be elim-
inated," he said.

Medvedev also blamed the trans-
port police, ordering the interior min-
ister to identify officials who should
be dismissed or face other sanctions.
Airport officials also did not escape
blame.

"What happened shows that obvi-
ously there were violations in guar-
anteeing security. And it should be
answered for by those who make
decisions there and by the manage-
ment of the airport,” he said.

Medvedev demanded robust
checks of passengers and baggage at
all major transportation hubs. "This
will make it longer for passengers,
but it's the only way,” he said.


PAGE 12, WEDNESDAY, JANUARY 26, 2011

LOCAL NEWS

THE TRIBUNE



Literacy
Fest

GAMBIER Primary School cele-
brated its third annual Literacy Fest
yesterday.

The theme of the exhibition held at
the Mall at Marathon for the occasion
was “Navigating the archipelago
through literacy expressions”.

The activities of the day included
an opening ceremony at 10am and a
career fair which was held from 11.30
am to 1pm at the mall.

During the opening ceremony, stu-
dents were entertained by Bahamian
artists, authors and poets, including
Tyrone Sawyer.

The students also heard from Per-
manent Secretary in the Ministry of
Education Elma Garraway and other

Sn

Third annual
event features
career fair

educators.

Musical entertainment was provided
by the Royal Bahamas Defence Force
Band.

School officials said the objective of
the event is to educate the parents and
students about the importance of lit-
eracy while helping them to develop a
deeper appreciation for their country.

PHOTOS/TIM CLARKE

a Ones
Dy aa
MEDIUM DRINK

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PAGE 4B, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





GB facility as ‘logistics
hub’ for Baha Mar

FROM page 1B

China State Construction, which has
gained a $1.95 billion construction con-
tract from Baha Mar for the Cable Beach
redevelopment, was said by multiple
sources to be in talks with Ken Hutton,
the former Freeport Concrete and John
S George chief executive, about using
the Sea Air Business Centre facility -
valued at $12 million by its Florida-based
owner - for this purpose.

When contacted by Tribune Business
for comment yesterday, Mr Hutton said
he could neither confirm nor deny that
China State Construction was the entity
he was talking to, and that it was over the
possibility of using the Associated Gro-
cers facility as a clearance/storage depot
relating to the Baha Mar project.

However, he did tell this newspaper:
“Negotiations are ongoing.”

Multiple sources familiar with devel-
opments, though, told Tribune Business
that if Mr Hutton was able to seal the
deal with China State Construction, it
would ensure the direct benefits from

the $2.6 billion Cable Beach redevelop-
ment benefited more islands that just
New Providence/Nassau.

They added that such an arrangement
could involve “upwards of 30,000 con-
tainers over three-and-a-half years” being
shipped to, and cleared, in Freeport,
before they were forwarded to Nassau
for use on the Baha Mar project.

Jobs

Such a deal, the sources added, could
“easily” create 30-50 jobs almost imme-
diately for the Freeport economy, which
is badly in need of economic stimulus,
and ensure that some Grand Bahama
residents benefit directly from Baha Mar
without having to leave their homes and
island.

“Tt would be nice to have a $2.6 billion
investment benefit more than Nassau,”
one source said. Describing the potential
impact from the Associated Grocers
warehouse proposal as “really, really sig-
nificant”, the source added that poten-
tially “millions of dollars of construction

the Bahamas International.

Ms Bridgewater and Mr Wilchcombe i
had rented the warehouse facility from }

Associated Grocers, intending to run ; (uency with which hurricanes hit the Bahamas, especially if

their own distribution business. Univer- ; Pfemium income did not match the associated risk.
sal Distributors, from it, yet the venture i
was plagued with problems that resulted :

in the landlord twice moving to lock them ; 45, © f he
? think it reflects our high levels of liquidity and solvency.

out for unpaid rent.

Mr Hutton was said to have been }
appointed to devise a new direction and }
business plan that could make Universal i
Distributors viable, plus generate rental }
income for Associated Grocers from a }
facility it no longer had any use for, pre- }
vious attempts to sell it having proven }
fruitless. This move seems to have led }

to the talks with China State Construc- } jion in profits in the past eight years, and although we've paid

? some dividends, more than 70 per cent has been kept as

tion.

FIRSTCARIBBEAN IMPA



RED LOANS 5% PO



NTS ABOVE SECTOR AVERAGE

FROM page 1B

mance for the 12 months to
October 31, 2011, stood in
start contrast to that of Com-
monwealth Bank, which amid
the severest recession in mod-
ern history saw net income
for its 2010 financial year soar
to a new record of $53 mil-
lion, a 26.1 per cent increase
on the previous year’s $42
million according to unaudit-
ed financials.

RoyalFidelity Capital Mar-
kets, in its assessment of First-
Caribbean’s 2010 perfor-
mance and 2011 prospects,
noted that the bank - BISX’s
largest stock by market capi-

talisation, although under 5
per cent is in public hands -
had seen both interest mar-
gins and net yields drop dur-
ing the previous financial

year.
The investment bank added
that FirstCaribbean’s

impaired loans, as a percent-
age of its total $2 billion-plus
loan book, stood at 12.4 per
cent at the October year-end,
compared to the sector’s 7.4
per cent average.
“FirstCaribbean continues
to have a high level of loan
loss provisions in comparison
to historical trends, as well as
in comparison to other
banks,” RoyalFidelity said.
“Impaired loans as a per-

centage of its total loan book
at the end of the previous fis-
cal year was 12.4 per cent,
compared to industry average
of 7.4 per cent, while its pro-
visioning coverage was at the
lower end of the spectrum at
23 per cent versus the industry
average of 32 per cent.”

Net yields at First-
Caribbean, RoyalFidelity
said, had been impacted by
the large increase in non-per-
forming loans, while lower
average loans had impacted
interest margins.

The end result was that
FirstCaribbean’s trailing 12-
month EPS had hit a “low”
of $0.49, compared to the
$0.90 it reached in 2007 just















civil prosecucion,

Family Islands.

‘ 1
recy I red i,



® Serong organizational skills.

THE NATIONAL INSURANCE BOARD

VACANCY NOTICE

The National Insurance Board (NIB) invites applications from suitably qualified persons co fill

the position of SENTOR ASSISTANT MANAGER in the Board's I egal Department,

JOB SUMMARY

To provide assistance to the Legal Department in the preparation and revision of all lease agreements

and contracts a3 well as provide assistance in the timely preparation of legal matters bor criminal and

RESPONSIBILITIES

‘Ta develop and provide Assistance with facilitating programs ‘On the National Insurance Act and
Regulations and other Statutes and Laws of the Commonwealth of The Bahamas for the benefit
of MIB staff members and stakeholders,
Prepare lease agreements for the various health clinics and kecal offices,
® Review and prepare contract agreements.
Assist in the preparation of macters for criminal and civil prosecution.

Prosecure in the magistrates criminal and civil courts in New Providence, Freeport and che

® Unpdare prosecution starus report.

® Prepare board papers for criminal prosecution.

* Conduct searches at the Supreme Court and Companies Registries.
Assist external counsel with the conduct of marters for the Board,

F Manage aurstanding warrants of arrest ixswed by the Magistrates Court.

Perhorm any other duties thar may be assigned.

Bachelor of Laws (LLB) degree from an accredited college or universicy plus a minimum
of twee (2) years experience in an administrative and SUPECVISOry Capacity,

® Admission to the Bahamas Bar with at least two (2) years practicing experience.
Represent the National Insurance Board in legal macters outside of compliance (as

Be familiar with the National Insurance Act and Regulations and other Statutes and Laws

of the Commonwealth of The Bahamas,

Good judgment and sourid reasoning ability,
® High proficiency in legal writing.

® Excellent verbal and written skills required,

APPLICATION

Inrerestec Verso May apply Dy sal nie 2 COMP pp ization ‘cit, We Wolk Che
I y apply by submitting a completed application form, along with tl

necessary proof of qualifications on or before Friday, Febraary 4, 2011, to the:

Senior Manager, Administration

Human Resources

The National Insuranee Board

Clifford Darling Complex
Nassau, Bahamas



i, a
Fp ar
“Rance







prior to the recession. Even } : :
adjusted for loan losses, the not had to borrow any money. We’ve grown the capital
trailing 12-month EPS stood }
at $0.69 due chiefly to
reduced net interest income }
? underwriting business in the Bahamas and the Cayman

and non-interest income.

Still, the expected improve- :
? Jeanne, Ivan, Michelle and Wilma.

ment in the wider Bahamian

economy during 2011, which i
? where you get strong operating results from. Most of our
improved interest margins }
and reduced non-performing :
loans, was set to benefit First- :
Caribbean’s Bahamian share- ;
holders through improved net :
income and dividend payouts. } the operating results.”
“Assuming FirstCaribbean i P 2 :
Soe : ment income contribution was “the price we pay for being
the increase in net income : :
should be reflected in divi- which does not pay a great return.

dend id,” RoyalFidelity }
ne ee : have access to large amounts of cash when we need to,

should translate into

said.

“While the current trailing :
12-month price earnings mul- }
tiple of the bank is 19, with :
the anticipated improvement }
in net income over the next }
year, we expect this ratio to ;
} month period.

reduce to more normal levels
over the next 12 months.”

RoyalFidelity noted that i

FirstCaribbean’s EPS for the

fell by $2.7 million or 27 per
cent to hit $7.2 million.

es rising, RoyalFidelity said

tions”.

age. This, in turn, reduced
associated impairment
allowances.

Adding that return on } j¢ is exposed to frequent and severe weather-related events.

assets (ROA), return on equi-
ty (RoE), earnings per share } reinsurance as part of its overall risk management program,

and productivity levels all the company’s solid reinsurance program reduces its net

exceeded target for 2010, i
Commonwealth Bank said }
total assets rose to a new }

record of $1.408 billion, a 2.3 ' : o
per cent increase on the ; Bahamas and Cayman Islands, hurricane exposure, “depen-
$1.376 billion recorded at ; deMcy on reinsurance”, and “an increasingly competitive

: pricing environment”.

year-end 2009.

Regular quarterly dividends }
during 2010, plus the two }
extraordinary dividends in }
February and November of
last year, had returned some
$25.5 million to its 6,500 :
: seek to gain market share in the region.”

shareholders, Commonwealth
Bank added.

Net income available to :

common shareholders stood

cent in 2009.

10% PROFIT RETENTION
AIDS ROYALSTAR RATING

FROM page 1B

? strength rating, said that since the current owners acquired

materials and equipment” could be the general insurance carrier in late 2002, the company had
involved. Mr Hutton took over manage- : grown its capital base from an initial $10 million to its cur-

ment of the Freeport warehouse, and }
Universal Distributors, last year via what }
was described as a ‘mutual arrangement’ }

eee tee aes eta aaa by the economy, especially in the motor vehicle segment, Mr
& Baharnian batik, sald to be Bank of 2 Watson said the top-line had also been impacted by the
; company’s conservative risk management stance.

rent $40 million.
Describing 2010 as a “good, not great year” for RoyalStar,
as gross written premium income continued to be impacted

He explained that it did not pay to be “overly aggressive”
in seeking to take on new insurance business, given the fre-

Describing A. M. Best’s action, which also reaffirmed
RoyalStar’s ‘a-’ issuer credit rating and ‘Stable’ outlook,
as “expected”, Mr Watson said of the agency’s actions: “I

“We have over $40 million in capital, are highly liquid and
manage expenses well. It’s good to have an independent,

external third party organisation confirm we’re in good
shape.”

Profits

And he told Tribune Business: “We’ve made over $30 mil-

? retained earnings.

“We've built the capital base from $10 million, mostly with

: retained earnings, although there’s been some preference
? share issues, too.

“But the shareholders have not been diluted, and we’ve

base from earnings, and you can only do that with good
operating performances.”
Mr Watson said that between 2002-2010, Royal Star’s

Islands had to cope with five hurricanes, namely Frances,
He added: “The performance has been strong, and that’s

profits do not come from investment income; they’re under-
writing profits.

“Roughly $22 million of the $30 million has come from
underwriting profits.

“Investment income has been a very much smaller part of

The RoyalStar managing director said the smaller invest-
very liquid. We have lots of cash on the balance sheet,
“We choose to be conservative with investments so we

such as in the aftermath of a hurricane.”

Mr Watson explained that unlike life insurance companies,
which were able to match long-term assets to long-term
liabilities, general insurers such as RoyalStar were dealing
with liabilities and risks of a short-term nature, given that
property and casualty policies normally covered a 12-18

As a result, and given the catastrophic nature of the per-
ils they insured, Bahamian general insurers had to keep

: plentiful reserves of cash on hand.

2010 fourth quarter fell by 61 i
per ek from nae ao : son said that while final figures were awaited, the absence of
as het Income dropped trom } any hurricane claims yet again meant that it was “a reason-
$18.1 million to $11.4 million. § (4%. ae

Net interest income fell by }
$3.6 million or 10 per cent to }
$33.3 million during the quar- :

tet, While Hondntetest ihpome he told Tribune Business, indicating that while RoyalStar

: had finished 2010 well in the black with net income worth
Non-interest expenses, } several million dollars, the performance was not as good as
though, rose by $4.1 million : the $6.816 million achieved the year before.
or 21 per cent to $23.2 mil- }
lion, while total loan loss } added of 2010.
expense of $5.9 million grew }
“significantly” by $7.7 million, :
in comparison to a recovery
of $1.7 million in the compar- }
ative quarter. With income

streams dropping and expens- }

As for RoyalStar’s 2010 financial performance, Mr Wat-

able year”.
“Gross written premiums were under pressure, and motor
premiums were under pressure because of the economy.
“We also had slightly higher claims than the year before,”

“It’s likely to be a good, not great year,” Mr Watson

“Our gross written premium figures have continued to
decline as we slowly lose business, because we’re not pre-
pared to be overly aggressive [in writing new business] due
to the very risky environment.

“A big hurricane would cause a lot of damage, and we
want to have control over our exposure and know where the

i risks are, so that after a large event we can deal with claims
FirstCaribbean continued to }
be impacted by the “ongoing ;
adverse economic condi- : ratings reflect RoyalStar’s solid capitalisation, favourable
? operating performance and established presence within the
Not so Commonwealth } Caribbean market
Bank, which yesterday cred- : :
ited enhanced credit risk man- }
agement with keeping non- }
performing loans below 3 per }
cent of its total loan portfolio, :

well below the industry aver- }

and customers as they deserve to be dealt with.”
In its assessment of RoyalStar, A. M. Best said: “The

Positive

“RoyalStar continues to produce positive operating results,
which are derived from the company’s strong underwriting

performance in conjunction with a steady stream of invest-
? ment income.

“Since RoyalStar writes all of its business in the Caribbean,

Although this makes RoyalStar somewhat dependent on

probable maximum loss to a manageable level.”
On the negative side, RoyalStar said these factors were
offset by the concentration of the company’s risks in the

Interestingly, A. M. Best added: “Local regulatory risk is
somewhat elevated as the Bahamian government increases
its Supervision Over insurance companies operating in the
country, and seeks to tighten regulatory requirements. Fur-
thermore, the Caribbean insurance market has become
increasingly competitive as indigenous and outside insurers

Mr Watson told Tribune Business he was unsure where A.
M. Best was “coming from” in its comments about increased

\ Ss) } government regulation of the insurance industry.
at $48 million, a 33.3 per cent }
rise over the $36 million gen- could aid an insurance industry by reducing risk, ensuring

oo . eee oe : market players “toe the line” when it comes to solvency mar-
per share hit $0.48, compared $ gine Tanidi : I

fo. $0.57 the.vear before,.2 = ae liquidity and capital reserve requirements.
Commonwealth Bank’s }

return on eduity stood at 30 ; ronment, and the tighter the regulatory environment, the

ea age as a players, not the less serious players.”

He added that enhanced levels of regulatory supervision

“We’re very happy with an increased regulatory envi-

happier we are,” Mr Watson said. “That supports serious

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THE TRIBUNE





——y

( AP Photo/Seth Perlman)
LOSS CUT: In this Jan, 21, 2011 photo, the Harley-Davidson Logo is
seen at the Hall's Harley Davidson dealership in Springfield, Ill.
Harley-Davidson Inc. cut its fourth-quarter loss Tuesday, Jan. 25, get-
ting a ride from a restructuring and a strong performance from its
financial services unit even as motorcycle sales slumped.

MILWAUKEE

Harley-Davidson Inc. cut its fourth-quarter loss, getting a ride
from a restructuring and a strong performance from its finan-
cial services unit even as motorcycle sales slumped.

Harley's stock surged $3.45 per share, or 9.45 percent, in
midday trading after company executives appeared to be more
upbeat about the company’s performance this year.

The Milwaukee company on Tuesday reported a net loss
of $46.8 million, or 20 cents per share, a vast improvement
over the $218.7 million, or 94 cents per share, that it lost in the
same period a year ago.

The company would have made money for the quarter with-
out an $85 million charge from buying back senior notes.

Harley said it lost $42.1 million, or 18 cents per share, from
continuing operations. Harley-Davidson Financial Services
contributed $43.5 million in operating income.

Revenue for the quarter rose nearly 20 percent to $917 mil-
lion, though motorcycle sales for the quarter were down 1 per-
cent worldwide and 0.2 percent in the U.S.

Still, the performance beat Wall Street estimates. Analysts
polled by FactSet expected a loss of 24 cents per share on rev-
enue of $853.8 million.

And the company reversed its 2009 full-year loss, posting a
profit of $146.5 million, to 62 cents per share. Harley lost $55.1
million, or 24 cents per share, in 2009.

Harley CEO Keith Wandell said in a statement that the
company feels good about its full-year results. "We have made
strong progress at transforming our business to be leaner,
more agile and even more effective at delivering great products
and customer experiences," he said.

Company executives would not estimate sales for the coming
year, but on a conference call with industry analysts they
seemed optimistic because they plan to increase shipments.

A key factor could be whether Harley's main demographic
will let their hair down a bit more in 2011. The company's
USS. sales fell slightly last year even as consumers returned to
car and truck dealers, helping auto sales rebound 11 percent
over 2009.

LINDA A. JOHNSON,
AP Business Writer

Johnson & Johnson's revenue has
slumped for a second straight year, prompt-
ing its CEO to make an extraordinary pitch
to soothe investors and defend the com-
pany's handling of 17 costly product recalls.

The health care giant, hammered by the
weak global economy, growing pricing pres-
sures and recalls that have kept many pop-
ular nonprescription medicines off store
shelves, reported Tuesday a 12 percent
profit decline and a 5.5 percent drop in
sales for the fourth quarter.

Revenue fell 0.5 percent in 2010, after
dropping 3 percent in 2009 — its first annu-
al decline since the Depression.

Chairman and Chief Executive William
C. Weldon tried to reassure analysts and
investors that J&J has its manufacturing
and other problems under control, in an
unusually lengthy, sometimes repetitive
conference call. Wall Street wasn't buying
it, though, with J&J shares dropping $1.23,
or 2 percent, to $60.99 in afternoon trading
after initially dropping 2.4 percent — a big

WEDNESDAY, JANUARY 26, 2011, PAGE 5B

J&J reports lower fourth
quarter profit, revenue



(AP Photo/Tony Dejak)
LOWER PROFIT: Johnson & Johnson prod-
ucts rest on a shelf at a grocery store Tuesday,
Jan. 25, 2011, in Cleveland.

drop for a huge, diversified company that
rarely sees stock volatility.

J&J's stock has lagged the benchmark
S&P 500 Index over the past year and is
below the $62 level where it traded five
years ago.

"The Teflon has come off J&J ... with a
vengeance,” said analyst Steve Brozak of



WBB Securities. The adjusted earnings
from the maker of Tylenol, medical devices
and biologic drugs matched Wall Street
estimates but revenue fell short and its
earnings estimate for this year was well
below analysts’ current forecasts.

Because of the weak forecast, institu-
tional investors "voted with their feet
today," said Erik Gordon, a professor and
analyst at University of Michigan's Ross
School of Business.

The New Brunswick, N.J.-based compa-
ny reported net income of $1.94 billion, or
70 cents per share, down from $2.21 bil-
lion, or 79 cents per share, in 2009's fourth
quarter.

Excluding one-time items, earnings
would have been $1.03 per share, matching
analysts’ expectations. J&J took an after-tax
charge of $922 million for litigation settle-
ments, a recall of poorly fitting DePuy hip
implants and increasing J&J's product lia-
bility reserve.

The company's revenue fell to $15.64
billion from $16.6 billion a year ago. It was
also below the $16 billion expected by ana-
lysts polled by FactSet.

Strong holiday boosts Coach 20 net income, revenue

MAE ANDERSON,
AP Retail Writer
NEW YORK

Luxury handbag maker
Coach says a strong holiday
season, particularly in North
America, helped its fiscal sec-
ond-quarter net income rise 26
percent.

The increase shows the luxu-
ry sector is rebounding faster
than other retail segments.

To serve consumers cutting
spending at the beginning of
the recession, Coach began
offering more bags for less than
$300. But CEO Lew Frankfort
said Tuesday, when the com-
pany released its earnings
report, that Americans are
spending more on handbags
again. The average retail selling
price of its handbags rose 9 per-
cent for the quarter, more than
the low-single-digit percentage
increase Coach had predicted.

A $498 satchel sold particu-
larly well, Frankfort said,
adding that $400-plus bags
made up 18 percent of all hand-
bag sales during the quarter, as
opposed to 13 percent a year
ago.

Fewer shoppers visited North
American stores, but the aver-
age amount they spent rose
slightly, and the company said
its North American revenue
overall rose 17 percent for the
quarter. Higher conversion —

or the number of people in
stores who make a purchase —
boosted the results, Frankfort
said.

"Consumers who actually
went into stores had a more
serious intention to purchase
than they did last year," Frank-
fort said. "In our world of
accessories, the consumer is
back."

Coach's net income rose to
$303.4 million, or $1 per share,
from $240.1 million, or 75 cents
per share, a year earlier. Rev-
enue increased 19 percent to
$1.26 billion.

Analyst expected earnings of
97 cents per share on revenue
of $1.21 billion, according to
FactSet.

Revenue at stores open at
least a year rose 12.6 percent
in North America. That figure
is a key gauge of retailers’ per-
formance because it excludes
stores that recently opened or
closed.

Sales in China were also
strong, the company said, while
revenue in Japan rose 8 per-
cent in dollars, helped by a
stronger yen. Department
stores are also ordering more
than they did in the depths of
the recession. International
wholesale shipments also
increased.

The company said it expects
revenue and earnings to con-
tinue to increase by double-dig-

“It feels good to choose a health plan
that takes care of my business, my team

99
and me.

Premiums have not been controlled by cutting

benefits and coverage for catastrophic illnesses



Premium increases have on average been lower

than the market rate

FA COLONIAL GROUP
ij INTERNATIONAL

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it percentages. Jefferies & Co.
analyst Randal J. Konik said
Coach did a "great job" realign-
ing its business during the
downturn; he expects net
income to continue to rise as
Coach capitalizes on its "acces-
sible luxury" market position.

But Konik said rising leather
and labor costs could cut into
Coach's margins in the future.

Coach shares fell 28 cents
Tuesday to close at $53.09.

Coach also said it will buy
back up to $1.5 billion of its
outstanding shares by June 30,
2013.

Other stores that cater to the
affluent have reported strong
holiday sales as well, including
Tiffany & Co. and Signet Jew-
elers.

PRIME GATED COMMUNITY
Requires

MANAGER

Successful applicant should possess proven record

of property management.

Attributes must include accounting, administrative
and personnel management.

Compensation will be based upon expertise and

experience.

Please forward resume to P.O. Box CB 13456
or Fax to 362-6721



PremierHealth

Health insurance premiums have continued to rise, so we



are all more sensitive to the levels of cover and service a

health plan provides.

Feeling good about choosing Premier Health for your

business, is knowing your employees receive more

service and cover for your premium dollar Premier

Health delivers state-of-the-art administration and claims

support to work for your business too. Less hassle on

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what you and your team do best.

a

ATLANTIC
MEDICAL

ATLANTIC MEDICAL INSURANCE CO. LTD.
Atlantic House, 2nd Terrace & Collins Avenue, PO. Box $S-5915, Nassau Tel. 326-819 |
Suite 5, Jasmine Corporate Center, East Sunrise Highway, RO. Box F-42655, Freeport Tel. 351-3960

A member of Colonial Group International: Insurance, Health, Pensions, Life

Call 326-819 |

or visit www.cgigroup.bm

Colonial Group International is
rated A-(Excellent) by AM Best.




PAGE 6B, WEDNESDAY, JANUARY 26, 2011

THE TRIBUNE





EUROZONE BAILOUT BOND SEES ‘RECORD DEMAND

BRUSSELS

The eurozone's euro440 bil-
lion ($599 billion) bailout
fund says its first bond auc-
tion to finance a rescue loan
for Ireland saw "record-
breaking" demand.

COMMONWEALTH

IN THE SUPREME C€

Common Law & Equ:

The European Financial
Stability Facility said Tuesday
its eurod billion ($6.83 billion)
bond sale was almost nine
times oversubscribed, getting
orders worth euro44.5 billion
from more than 500 investors.

The EFSF says that the

2010

JAW 19 gut No.01391

IN THE MATTER of the Quieting

Titles Act, 1959

interest rate for the 5-year
bond is 2.89 percent.

That compares with a yield
of 2.32 percent on comparable
German bonds.

Strong demand for the
fund's first contribution to
Ireland's ?67.5 billion bailout
was expected, after Japan said
it would buy 20 percent of the
issue.

Ireland will only receive
euro3.3 billion of the euro5
billion since a cash buffer is
needed for the fund's triple-A
rating.



AP Photo/Petros Giannakouris

EUROPE IN CRISIS: Tourists walk at 1200 BC ancient cemetery of Keramikos as at the background is seen
the ancient Acropolis hill in central Athens, on Tuesday, Jan. 11, 2011.

AND IN THE MATTER OF ALL
THAT piece parcel or lot of land being
Lot Number Twelve (12) in Highland
Park Subdivision of The Grove Estate
situate in the Western District of the Is-
land of New Providence in the Common-
wealth of The Bahamas

AND ALSO ALL THAT piece parcel
or tract of land comprising an area of
Twelve and Two Hundred and Seventy-
nine Thousandths acres (12.279) situate
on Edmond Street in The Grove Estate in
the Western District of the Island of New
Providence

AND

IN THE MATTER OF the Petition of
SELTEC COMPANY LIMITED

NOTICE

“ALL THAT piece parcel or tract of
land being a portion of the Sub-division
called and known as Highland Park situ-
ate in the Western District of the Island
of New Providence aforesaid and situate
about Twenty (20) feet West of Marlin
Drive and immediately South of Sanford
Drive and bounded on the NORTH by
the said Sanford Drive on the EAST by
Highland Park Sub-division aforesaid on
the SOUTH by a Road Reservation Forty
(40) feet wide and on the WEST by an-
other Road Reservation Fifty (50) feet
wide AND ALSO ALL THAT piece par-
cel or tract of land being another portion
of the Highland Park Sub-division situate
about Six hundred and Eighty and Nine-
ty-six hundredths (680.96) feet South of
Sanford Drive in the Western District of
the Island of New Providence aforesaid
and bounded on the NORTH partly by a
Road Reservation Forty (40) feet wide
on the EAST by land the property of The
Bahamas Government on the SOUTH by
land also the property of The Bahamas
Government and on the West by land said

THE PETITION of Seltec Company Limited in respect of:

UK economy shrinks
and pound plunges

PAN PYLAS,
Associated Press
LONDON

An unexpected downturn in
the British economy shocked
investors on Tuesday, prompt-
ing a sharp drop in the pound
and reigniting debate about the
government's plans to slash
spending and raise taxes to
reduce public debt.

The figures showing a 0.5
percent GDP drop in the last
three months of 2010 fueled
speculation that the British
economy was heading back into
recession — defined as two
quarters of negative growth —
and reined in expectations that
the Bank of England would
start raising interest rates soon
in response to stubbornly high
inflation levels.

The figures are preliminary,
leaving them open to revision,
and followed four quarters of
growth — including 0.7 percent
in the third quarter — as
Britain climbed out of a deep
recession.

In the text of a speech in
Newcastle, Bank of England
governor Mervyn King
appeared to indicate that he
wasn't in a rush to start raising
borrowing costs, a move that
could dampen growth. He
argued that the drop in living
standards for millions of
Britons was an “inevitable
price" to pay for the financial
crisis and subsequent rebalanc-





INTERNATIONAL
BUSINESS

ing of the world and U.K.
economies.

"At some point Bank Rate
will have to return to a more
normal level ... but a return to
economic stability from our
fragile conditions will require
careful and well-judged steps
looking beyond the next few
months,” King said.

King conceded that inflation
would likely rise to between 4
and 5 percent in the coming
months from the 3.7 percent in
December as the recent spike
in energy and commodity costs
combine with higher sales taxes.
But he said price pressures
would start to fall next year as
the economic downturn con-
tinues to rein in wage increases.

In any case, King insisted
there's very little monetary pol-

icy can do to keep a lid on the
prices of imports, such as food
and oil.

Policy

"Monetary policy cannot be
based on wishful thinking,"
King said. "So unpleasant
though it is, the Monetary Pol-
icy Committee neither can, nor
should try to, prevent the
squeeze in living standards, half
of which is coming in the form
of higher prices and half in
earnings rising at a rate lower
than normal.”

King noted that real wages
— the difference between pay
rises and inflation — would
likely fall again this year to lev-
els no higher than in 2005.

"One has to go back to the
1920s to find a time when real
wages fell over a period of six
years," King said.

The governor's comments
come in the wake of figures
from the Office for National
Statistics showing that Britain's
economy shrank again in the
fourth quarter of 2010, largely
because of the heavy snow that
gripped the country during
December, snarling roads, crip-
pling Heathrow and other air-
ports and keeping people away
from shops before Christmas.

But statisticians said the
economy would have flatlined
even without the snow, stun-
ning markets that had been

expecting a 0.5 percent increase
in GDP. Within a minute or
two of the data's release, the
pound had dropped over a cent
against the U.S. dollar, falling to
a low of $1.5753 before settling
around the $1.58 mark before
King took to the stage. Stocks
suffered too, with the FTSE 100
index of leading British shares
underperforming its peers, clos-
ing down 0.4 percent at
5,917.71.

Analysts said the grim eco-
nomic figures will make it diffi-
cult for the Bank of England
to hike any time soon especial-
ly as the Conservative-led coali-
tion government is at the begin-
ning of a sharp fiscal retrench-
ment. The raft of spending cuts
and tax increases the govern-
ment announced last autumn
have not yet even come into
force during the fourth quar-
ter.

"Questions will be raised
about whether this reflects the
onset of the double-dip that had
been feared, and no doubt the
impact of the coalition's fiscal
plans will be under even more
intense scrutiny in an environ-
ment where the recovery looks
to be faltering," said George
Buckley, chief U.K. economist
at Deutsche Bank.

Britain plans sharper spend-
ing cuts than any of the other
major global economies and
how it fares is being closely
monitored around the world,
particularly in Europe.

to be the property of Joseph Tomlinson”

Seltec Company Limited claims to be the owner of the un-

encumbered fee simple estate in possession of the said land
and has made application to the Supreme Court of the Com-
monwealth of The Bahamas under Section Three (3) of the
Quieting Titles Act, 1959 to have his title to the said land in-
vestigated and the nature and extent thereof determined and
declared in a Certificate of Title to be granted by the Court in
accordance with the provisions of the said Act.

Copies of the Petition and the Plan of the said land may be
inspected during normal office hours in the following places:

1. The Registry of the Supreme Court,
East Street North in the City of Nassau,
Bahamas; and

2. The Chambers of Lockhart & Co., #
35 Buen Retiro Road, off Shirley Street,
Nassau, Bahamas.

JOHANNESBURG —
Europe and the United States
have failed to strengthen the
institutions responsible for the
global economic crisis, the
IMF said in a report suggesting
the U.S. privatize mortgage
giants Freddie Mac and Fannie
Mae.

The International Monetary Fund
pointed to "weak balance sheets" of
eurozone governments and banks and
said the European bailout fund needs to
be increased from its headline 440 bil-
lion euros.

LONDON — An unexpected con-
traction in the British economy shocked
investors, prompting a sharp drop in
the pound and reigniting debate about
the government's plans to slash spend-
ing and raise taxes to reduce public debt.

The economy shrank 0.5 percent in
the last three months of 2010.

The decline reined in expectations
that the Bank of England would start
raising interest rates soon in response to
stubbornly high inflation levels.

Stocks were also hurt by the news.
The FTSE 100 index of leading British
shares fell 0.3 percent, while Germany's
main DAX index and France's CAC-40
both slipped 0.1 percent.

GLOBAL Economic News

I AT E D

A look at economic developments
and activity in major stock markets
around the world Tuesday:

BRUSSELS — The eurozone's bil-
lion euro ($599 billion) bailout fund
says its first bond auction to finance a
rescue loan for Ireland saw "record-
breaking” demand.

TOKYO — Japan's central bank kept
a key interest rate unchanged at virtu-
ally zero, hoping to protect a still-fragile
economy from veering off track.

Japan's Nikkei 225 stock average
added 1.2 percent.

Elsewhere in Asian trading, South
Korea's Kospi rose 0.2 percent and Aus-
tralia's S&P/ASX 200 gained 0.5 per-
cent.

Hong Kong's Hang Seng index
dropped less than 0.1 percent while the
Shanghai Composite Index fell 0.7 per-
cent.

MADRID — Spain's bor-
rowing costs dropped signifi-
cantly in a heavily oversub-
scribed auction of 2.2 billion
euros ($3 billion) in short-term
debt, a day after the govern-
ment announced reforms for its ailing
savings bank sector.

NEW DELHI — India's central bank
raised key interest rates for the seventh
time in little over a year in an attempt to
contain inflation.

DAVOS, Switzerland — Trust in
business and government worldwide has
been remarkably resilient through the
economic crisis, except in the U.S.,
where it has steeply declined, according
to a survey released on the sidelines of
the World Economic Forum.

DUBAI, United Arab Emirates —
DP World said business jumped 14 per-
cent last year, reflecting the expansion
of the Dubai port operator's global net-
work and a resurgence in trade as the
world economy picked up steam.

NOTICE is hereby given that any person having dower
or right to dower or an Adverse Claim or a claim not rec-
ognized in the Petition shall on or before the expiration of
Thirty (30) days after the final publication of these presents,
file in the Supreme Court and serve on the Petitioner or the
undersigned a Statement of his claim in the prescribed form
verified by an affidavit to be filed therewith.

Legal Notice
NOTICE

Madison Consulting Ltd.

Legal Notice
NOTICE

Naboil Investments Ltd.

Failure of any such person to file and serve a Statement of his
Claim on or before the

expiration of Thirty (30) days after the final publication of
these presents will operate as a bar to such claim.

Notice is hereby given that in accordance with
section 138 (8) of the International Business
Companies Act 2000, the dissolution of
Madison Consulting Ltd. has been completed:
a Certificate of Dissolution has been issued
and the Company has therefore been struck
off the Register

Notice is hereby given that in accordance
with section 138 (8) of the International

Business Companies Act 2000, the
dissolution of Naboil Investments Ltd.
has been completed: a Certificate of
Dissolution has been issued and the Company

has therefore been struck off the Register

Dated the 17th day of January, A.D., 2011

LOCKHART & CO.
Chambers

#35 Buen Retiro Road
off Shirley Street
Nassau, The Bahamas
Alain Kunz

Alain Kunz (Liquidator)

(Liquidator)

Attorneys for the Petitioner



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