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.

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University of Florida
Holding Location:
University of Florida
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Full Text
PAGE 4B, MONDAY, JANUARY 31, 2011

THE TRIBUNE



es
S12m ‘hostile offer’ not in AML’s interest

FROM page one

Friday means that, in effect,
the $1.50 being offered by Mr
Finlayson to the latter’s
investors is now a 47 per cent
premium. Collectively, he
would be paying about $4 mil-
lion more than the shares are
currently worth.

Mr Finlayson and Trans-
Island Traders are now await-
ing Securities Commission
approval for their public ten-
der offer, which they aim to

launch in February to acquire
51 per cent of AML Foods’
outstanding 11,540,417 ordi-
nary shares, a deal which - if
successfully consummated -
would create an enlarged
player on the Bahamian food
retail/supermarket scene.
Mr Finlayson yesterday
told Tribune Business he
thought his “prospects are

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pretty high” in terms of the
offer succeeding, adding that
RoyalFidelity principals,
Anwer Sunderji and Michael
Anderson, had played a key
role in setting the deal up by
facilitating meetings between
himself and three of AML
Foods’ largest shareholders.

It is understood that two of
those Mr Finlayson met with
were Craig Symonette, broth-
er of deputy prime minister
Brent Symonette, and busi-
nessman Frank Crothers. The
other individual Mr Finlayson
met with was likely to have
been either Majestic Tours
boss William Saunders or
Franklyn Butler Jnr.

“Their position was very
similar,” Mr Finlayson said of
the meetings. “They were not
averse to it, but indicated
their concern was: What
about the smaller sharehold-
ers?

“We have spent the last two
weeks figuring out what was
best for the small shareholder
interests, and believe this ten-
der offer, if approved by the
Securities Commission, would
be the fairest way to go about
it.”

Acknowledging that noth-
ing formal had been submit-
ted to the AML Foods Board,
Mr Finlayson said that of his
discussions with the compa-
ny’s larger shareholders,
“there were those in favour
of it, but ’m sure manage-
ment will not be very much
in favour of it”.

Questioning how AML
Foods’ management could
justify the current trading
price of the company’s stock,
Mr Finlayson suggested that
the BISX-listed food retail
group’s recently-announced
share buy back program was
an attempt to boost the stock
and ward off the advances of
an unwelcome predator,
namely himself.

However, Mr D’ Aguilar
poured cold water on Mr Fin-
layson and Trans-Island
Traders’ prospects, telling Tri-
bune Business: “The three
main shareholders most defi-

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nitely rejected the offer
because they did not feel it
was in the best interests of all
AML Foods’ shareholders.

“If they were to sell out,
they would leave the minority
investors of AML at the mer-
cy of an unproven manage-
ment team, and did not think
that was the ethical, justifi-
able and right thing to do.
This is not in the best interests
of all shareholders of AML,
and the Board would not
accept an offer like this.”

Given that position, it is
possible that Mr Finlayson
and his team have gone public
with their tender in a bid to go
directly to AML Foods’
minority investors, especially
the smaller retail ones, thus
circumventing the Board.

The key is whether AML
Foods’ shareholders believe
they will do better by cashing
out now, and that Mr Fin-
layson and his team will do a
better job, or do they have
more confident that their
future lies in better hands
with the existing Board and
management team, the latter
headed by chief executive and
president, Gavin Watchorn.
This is the persuasion battle
both sides will have to fight.

While AML _ Foods’
investors had suffered heavily
as a result of the company’s
sustained heavy losses
between 2003-2008, the com-
pany has now returned to sus-
tainable, consistent prof-
itability, and is focusing on
opening its $4.5 million
Solomon’s Fresh Market store
later this year.

Contrasting this with the
approach of Mr Finlayson and
his management team, Mr
D’Aguilar said: “We’re
focused on the core business,
they’re focused on mergers
and acquisitions that do not
yield to the bottom line and
dividends. Stick to the tried
and proven team, not the
untried and unproven team.
This is not the time, in my
opinion, for them to be want-
ing to take on another com-

pany.”

THE NATIONAL INSURANCE BOARD

VACANCY NOTICE

Acknowledging that yes-
terday’s announcement had
“blindsided” him and “taken
him by storm”, first hearing
of it when Tribune Business
contacted him, Mr D’Aguilar
- like many other business
observers - questioned
whether Mr Finlayson was
trying to bite off too much,
given that his plate was
already full in trying to turn
around the loss-making City
Markets.

Acknowledging that Mr
Finlayson was cash-rich fol-
lowing Heineken’s $120 mil-
lion buyout of the Associated
Bahamian Distillers and
Brewers (ABDAB) stake in
Burns House/Commonwealth
Brewery, Mr D’Aguilar said:
“This is about more than
money. What is missing from
the equation is who will man-
age this?

“This is a very detailed,
very precise, very difficult
business to execute. You have
to have a great deal of exper-
tise to execute in this market.
The Trinidadian investors at
City Markets may have a lot
of experience in the food busi-
ness, but did not have the
expertise in the food business,
which you need to execute
flawlessly.

“The only reason this is not
in the best interests of the
company is because no one
knows who’s going to run it.
You have to make sure you
have a management team on
the ground to run this com-
pany.”

And the AML Foods chair-
man asked of Mr Finlayson
and his team: “Do they have
the experience in the food
business? Do they understand
the complexities of this busi-
ness? It’s very easy to pay
money for a business, but it’s
very difficult to manage this
business.”

Adding that the “proof was
in the pudding”, Mr
D’ Aguilar pointed to the fate
of Solomon’s Mines under the
Finlaysons’ management, and
added: “Their management
expertise is not proven.”

He did concede, though,
that AML Foods’ share buy-
back, where the company will
repurchase up to 10 per cent
of its outstanding stock over a
three-year period, was a
response to rumours about an
impending unwelcome
takeover offer from a preda-
tor.

“Maybe we heard the rum-
blings, and it was brought to
our attention that the shares
were undervalued,” Mr
D’Aguilar said. “We looked
at other companies, Cable
Bahamas and Commonwealth
Bank, and the way they used
share buy backs to bring the
value back.”

The AML Foods chairman
also took a pop at RoyalFi-
delity’s involvement, pointing
out that the investment bank
had been “talking about syn-
ergies between City Markets
and AML for the past nine
years”, even trying to get his
company on board as investor
in the BSL Holdings vehicle
they put together for the dis-
astrous $54 million purchase
of City Markets prior to sell-
ing to Mr Finlayson.

“We couldn’t see the syn-
ergies,” Mr D’Aguilar added,
pointing out that the deal put
together by RoyalFidelity cost
investors $75 million in equi-
ty “and left a company in tat-
ters. The untold millions lost
by investors and pension
funds in that deal is not some-
thing that is talked about”.

RoyalFidelity is the finan-
cial advisor to Mr Finlayson’s
tender offer, while CFAL is
placement agent.

Adding that Mr Finlayson
and his team had “not mas-
tered the business they
acquired three-four months
ago”, Mr D’Aguilar said
AML Foods and City Mar-
kets had different structures,
cultures and management
philosophies.

His company, with its
Solomon’s SuperCentre and
Cost Right formats, was in the
“mega store and club busi-
ness” while City Markets was
a neighbourhood food store.

ohlay
a ¥

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To develop and provide assistance with facilitating programs on the National Insurance Act and
Regulations and other Seatutes and Laws of the Cormmonwealeh of The Bahamas for the benetis
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Prepare lease agreements for the various health clinics and local offices.

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Assist in the preparation of marters for criminal and civil prosecution,
Prosecute in the magistrates’ criminal and civil courts in New Providence, Freeport and the

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Conduct searches at the Supreme Court and Companies Registries,
Assist external counsel with che conduct of matters for the Board,
Manage outstanding warrants of arrest issued by the Magistrates Court,

Perform any other duties thar may be assigned.

L u
Bachelor of Laws (LLB) degree from an accredited college or universicy plus a minimum
of two (2) years experience in an administrative and supervisory capacity.
cal Admission tot the Bi; ahamas Bar with at least cw (2) | vears practicing eExpeTbence,
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Human Resources
The National Insurance Board
Clifford Darling Complex

Nassau, Bahamas



THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 5B



FROM page one

ness after unveiling his plans
to launch a tender offer to
acquire 51 per cent majority
stake in rival BISX-listed food
group, AML Foods, offering a
47 per cent premium of $1.50
per share to last Friday’s
close, the City Markets prin-
cipal said he hoped to obtain

kets, given that no single
majority controlling share-
holder was involved, Mr Fin-
layson said the offer - and
potential merger - was driven
by the need to achieve greater
economies of scale in food
retailing, which was essential

ee eee to cutting costs and reducing
approval within the next wee consumer prices.
to 10 days.

Questioned as to why he
was looking at expansion and
another acquisition just three-
four months after taking 78
per cent control at City Mar-

AUTO SECTOR FEARS RISE
OVER FALSE INVOICING

FROM page one

Acknowledging that a pub-
lic company takeover of this
nature was “new territory”
for the Bahamian capital mar-

tial reductions on the price of the cars they sell - in the process
denying "legitimate" companies business, and the Government,
revenue.

Fred Albury said the situation is creating “tremendous havoc”
in the industry, where established dealers are finding it hard to com-
pete with these firms.

“To ship an average Honda Civic from the US to the Bahamas
would cost $1,200 to $1,500. If it is seven to eight years old, it
should have value in Japan of at least $2,000, so the actual value
would be $3,500 including freight to the dock in Nassau, but their
invoice would show $1,800. I don’t mind competition but it’s not a
fair playing field for everyone in the industry,” said Fred Albury.

The effect is particularly significant given the effect the depressed
economy has had on demand for cars in the Bahamas. The Exec-
utive Motors dealer said that used car sales have gone from mak-
ing up 15 to 20 per cent of his business to around 50 per cent in the
last two years.

Ben and Fred Albury say the Customs Department is aware of
their concerns, and has even made inquiries on a number of occa-
sions to people such as Fred Albury, as the authorised Toyota deal-
er for the Bahamas, to ask about the value of a car of a particular
year and model, apparently as a result of suspicions about false
invoicing being done by other dealers.

Tribune Business understands that dealers have submitted to
Customs what they believe is information relating to the price of
used cars bought in Japan, which should provide the “black and
white” evidence necessary for the Department to determine that
cars are being undervalued on invoices.

Both men claim their suspicions were raised when certain sup-
pliers offered to "do for us what they are doing for them" - that is,
create false invoices that do not show the true value of the vehicle
and what was paid, therefore paving the way for someone import-
ing the vehicle not to pay the full tax on the car. An offer both say
they refused.

To date, many dealers feel not enough has been done to stamp
out illegality that may be taking place.

"The perspective we're getting from the Bahamas Motor Deal-
ers Association members is: 'What more can you do' . We have
offered to provide Customs with black and white information
that’s factual. It’s not our information, it’s information that's
accessible publicly and proves that something fishy is going on, but
they just don't seem to be willing to dig that deep," said Ben
Albury.

Tribune Business attempted to reach the Customs Department
for comment on Friday. However, all available phone numbers rang
unanswered on the numerous occasions they were dialed.

The businessmen say it is not only they but the Government and
the public who lose out. With false invoices, the Customs Depart-
ment receives less than the proper amount of revenue.

In addition, not only are the cars below market price, they say,
but some models being brought into the country also "cannot be
supported" here from a mechanical point of view, with customers
sometimes finding they are unable to get them fixed when some-
thing goes wrong, said Ben Albury.

"They are bringing in vehicles that can’t be serviced or sup-
ported here, and I have a lot of their customers coming in at end
of the day wanting us to support the vehicle or trade it in. They had
looked at the price and think they’re getting a great deal. These
guys say they’ll support them (if any problems should arise with the
car), until they go back with an issue and then they’re left out in the
cold,” said Ben Albury.

“Tf nothing is done, it will have an even bigger effect. We are pro-
viding jobs and paying taxes. These guys are not really putting any-
thing back into the economy.”

JOB VACANCY

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

Merged City Meat-AML to
have just 25% market share

kets, a company with myriad
problems as evidenced by a
collective $27 million loss over
the previous four years under
previous ownership, Mr Fin-
layson said he was in an envi-
able financial position, given
that no debt financing had
been involved to date in turn-
ing that firm around.

Flush with cash from the
$120 million sale of Associat-
ed Bahamian Distillers and
Brewers (ABDAB’s) stake in
Burns House/Commonwealth
Brewery, his family holding
more than 60 per cent of the
former, Mr Finlayson said
that while focused on return-
ing City Markets to prof-
itability - something, he
added, that would be
achieved when its three exist-
ing Freeport stores were fixed
- he was also assessing expan-
sion prospects.

“We’re fixing City Markets,
but we’re also very involved
with the expansion, because
we see economies of scale as
really necessary,” Mr Fin-
layson told Tribune Business.
“Along comes Anwer Sun-
derji and Michael Anderson
of Fidelity, and they say:
‘Maybe you can achieve this
faster than you have. Rather
than grow organically, grow
by acquisition’.”

If he was successful in
obtaining 51 per cent majori-
ty control at AML Foods, and
merging it with City Markets,
Mr Finlayson said the com-
bined entity would return the
latter to its 2007 sales levels,
generating around $150 mil-
lion in per annum food sales
alone.

“When you look at the
economies of scale, what it
does for the overall compa-
ny, it goes back to a very prof-
itable organisation, and both
sets of shareholders will do
well from it,” Mr Finlayson
said.

If his tender proved suc-
cessful, he said the first thing
he would do was an examina-
tion of AML Foods’ prices in
its Solomon’s SuperCentre
and Cost Right formats. “I
see where we can do some

improvements in that regard,”
Mr Finlayson added.

“The second thing we’re
going to do is take the focus
off big ticket, larger items. In
this business it’s all about how
many turns you can get in a
year, and right now those big
ticket items are not doing
what they need to, and even
at the peak, they stored cash
rather than turned cash,” he
added, hinting that space may
be sub-let to other retailers
to supply items such as elec-
tronic appliances.

While unable to provide
details on how a merger
would be executed, Mr Fin-
layson said his tender offer
was “definitely not hostile”,
and added: “I really don’t
think it will be difficult to get
up to 51 per cent. There are a
number of people involved
there that I think would part
with their shares, and in terms
of the actual public out there,
I think a number of them will
cash out at a premium.”

Mr Finlayson, and his
Trans-Island Traders vehicle,
appear to be banking on the
fact that a large number of
minority AML _ Foods
investors, especially the retail
ones, will be looking to cash
out given the company’s
struggles in the 2003-2008
period, and the fact it has only
recently resumed dividend
payments.

However, one analyst, who
requested anonymity, last
night told Tribune Business
bluntly on the Finlayson offer:
“That ain’t going to work,
because no one will sell at
$1.50 a share. He’s going to
need $4 a share to get con-
trol. The larger shareholders
are not pleased with it at all.
They’re not willing to sell to
the Finlayson team. It’s a
futile exercise.”

By going public with the
tender offer, it is possible that
Mr Finlayson is looking to
exert some pressure on AML
Foods’ management and
Board. It is possible that,
while not gaining majority
control, Mr Finlayson could
still acquire a large position
in AML Foods’ stock,
enabling it to press for Board
seats and a say in manage-
ment.

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No 45 of 2000)

ALLIED CORPORATION INC.

LIQUIDATOR’S NOTICE

PURSUANT TO SECTION 138 OF
THE INTERNATIONAL BUSINESS COMPANIES ACT.

We, SOVEREIGN MANAGERS LIMITED, Liquidator of
the ALLIED CORPORATION INC., hereby certify that the
winding up and dissolution of ALLIED CORPORATION
INC. has been completed in accordance with the Articles of

Dissolution.

Dated the 22nd day of December, 2010.

Signed
For & On Behalf Of

Sovereign Managers Limited
Liquidator

52wk-Low

Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings

Securit)
"AML. Foods Limited
Bahamas Property Fund
Bank of Bahamas

ROYAL @ FIDELITY

Bortary af Vitor

Mr Finlayson is due to meet
the Securities Commission
today, and while acknowl-
edging that “this is a whole
new territory”, is hoping to
get regulatory approval to
launch the tender within the
next week to 10 days.

The tender is likely to last
for a minimum of two weeks,
and a maximum of one
month, depending on the pace
and level of investor response.
It remains to be seen whether
the Securities Commission
will force him to make an
offer for AML Foods’ shares,
something that would be
tough to accomplish, given the
diverse shareholder base.

Seeking to allay any com-
petition and antitrust fears,

Mr Finlayson said a merged
AML Foods-City Markets
would only have a 25 per cent
stake of the $600 million-plus
Bahamian food retail busi-
ness. “It’s one that makes
sense for both companies, but
if you talk about affecting the
overall food business, it’s only
25 per cent of the market,”
he added.

“You can’t underestimate
the independents, because
they’ve stolen a big part of
the market share since 2007,
no doubt about it.”

City Markets has nine
stores, six in Nassau and three
in Freeport, while there is a
Solomon’s SuperCentre and
Cost Right in both Nassau
and Freeport.

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ch it
BKG/410.03

ADVERTISEMENT FOR THE BAHAMAS
GOVERNMENT TREASURY BILLS

Sealed tenders for B$76,209,000.00 of 91-Day Treasury Bills,
will be received by the Banking Manager, The Central Bank
of The Bahamas, Frederick Street, Nassau up to 3:00 p.m on
Thursday, February 1, 2011. Successful tenderers, who will be
advised should take up their bills against payment on Tuesday,
February 3, 2011. These bills will be in minimum multiples of
B$100.00.

Tenders are to be on special forms obtainable from the Central
Bank of The Bahamas or Commercial Banks.

Tenders must state the net price percent (in multiples of one
cent) and should be marked “Tender”. The Central Bank of the
Bahamas reserves the right to reject any or all tenders.

HRA A I A A OR AE AE AE AE OR AO I OK AE OE AE OE A OO EK OE OE A OK OK OK

A FG CAPITAL MARKETS
, . cS BROKERAGE -_s0yisoay SERVICES

cr AL cl. ca bce MT AT.

BISX LISTED & TRADED SECURITIES AS OF:
FRIDAY, 28 JANUARY 2011
BISX ALL SHARE INDEX: CLOSE 1,475.31 | CHG -1.83 | %CHG -0.12 | YTD -24.20 | YTD % -1.61
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW .BISXBAHAMAS.COM | TELEPHONE: 242-323-2330 | FACSIMILE: 242-323-2320

1.02
10.63
4.90
0.18
2.70
2.17
10.21
2.40

Commonwealth Bank ($1) 6.85
Consolidated Water BDRs 2.05

Doctor's Hospital
Famguard
Finco

FirstCaribbean Bank

Focol (S)

1.60
5.47
6.51
9.39
5.48

Focol Class B Preference 1.00

ICD Utilities
J. S. Johnsen

Premier Real Estate
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)
Securit: Last Sale

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) +

RND Holdings

ABDAB
RND Holdings

Fund Name
CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund
Royal Fidelity Bahamas G & I Fund
Royal Fidelity Prime Income Fund
101.6693 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

1.4076
2.8300
1.5087
2.8522
13.0484

99.A17TT
1.0000
1.0000
1.0000
9.1005

10.0000
9.1708

4.8105

ffect ate 8/8/2007
(S1) - 3-for-1 Stock Split - Effec'

ate 7/11/2007

7.40
9.82
10.00

Symbol
BAH29
FBB17
FBB22
FBB13
FBB15

Previous Close Today's Close

Change
1.02 0.00

10.63 0.00
4.90 0.00
0.18 0.00
2.70 0.00
2.1 0.00

10.21 0.00
2.40 0.00

Daily Vol. EPS $

0.150

Div $ P/E

0.013
0.153
-O.87F
0.168
0.016
1.050
0.781
0.422
0.111
0.107
0.357
0.287
0.494
0.366
0.000
0.012
0.859
9.991

6.81 -0.04
2.23 0.18
1.60 0.00
5.A7 0.00
6.51 0.00
9.39 0.00
5.48 0.00
1.00 0.00
7.40 0.00
9.82 0.00
10.00 0.00
Change Daily Vol. Interest
99.46 0.00 6.95%
100.00 0.00 7%
100.00 0.00 Prime + 1.75%
100.00 0.00 7%
100.00 0.00 Prime + 1.75%

20 November 2029
19 October 2017
19 October 2022

30 May 2013
29 May 2015

RoyalFidelity Merchant Bank & Trust Ltd. (OQver-The-Counter Securities)
Symbol Bid $
Bahamas Supermarkets 5.01

0.35

Ask $
6.01 14.00
0.40 0.55

Last Price Daily Vol. EPS $
-2.945

0.001

Div $
0.000
0.000

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

30.13
0.45

31.59
0.55 0.55

4.540
0.002

0.000
0.000

BISX Listed Mutual Funds

NAV
LSS
2.9474
1.5790
2.7202
13.2825
114.3684
106.5528
1.1465

4. 118s
1.1491

9.7950

stment Fund Principal
10.6417

stment Fund Principal
9.6635
8.3979

YTD%
5.51%
2.10%
0.32%
12.72%
-0.63%
9.98%
4.75%
5.20%
4.73%
5.35%

4.85%
-1.20%

3.37%
8.82%

NAV 3MTH
1.498004
2.918697
1.561030

NAV 6MTH
1.475244
2.919946
1.543785

Last 12 Months %
6.90%
2.09%
4.57%
4.63%
-0.14%
12.49%
7.18%
5.20%
4.73%
5.35%

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

109.392860
100.779540

107.570619
105.776543

5.45% 30-Nov-10

0.50% 30-Nov-10

-3.37%
8.82%

30-Nov-10
31-Dec-10

MARKET TERMS
YIELD - last 12 month

NAV - Net As:

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





PAGE 6B, MONDAY, JANUARY 31, 2011

THE TRIBUNE



BUSINESS ee
Robin Hood targets 30k vistors for Jan

FROM page one

Scotiabank, Sbarros Italian
eatery, the “only fine din-
ing” restaurant in eastern
New Providence, a medical
centre and a 22,000 square
foot gym and spa, which will
feature squash and racket-
ball courts and more.

“It’s going to have the
works. We’re moving
aggressively on it,” he told

Tribune Business. While no
contracts have yet been
signed, the gym may be
opened under the “Magic
Johnson brand”, in conjunc-
tion with the former basket-
ball star.

The shopping plaza is the
next stage of the Prince
Charles development pro-
ject being undertaken by Mr

ope

MINISTRY OF FINANCE
TREASURY DEPARTMENT

PUBLIC NOTICE

Schaefer and his business
partner, Suresh Khilnani,
who officially opened the
new 45,000 square foot
Robin Hood store in the
former Pepsi plant off
Prince Charles Drive on Fri-
day.

Mr Schaefer said that so
far the Robin Hood store,
which quietly opened its

GN 1164

RELOCATION OF THE PUBLIC TREASURY DEPARTMENT

THE TREASURER OF THE COMMONWEALTH OF THE BAHAMAS WISHES TO

ADVISE THE GENERAL PUBLIC THAT THE PUBLIC TREASURY

DEPARTMENT WILL BE RELOCATED TO THE NORTH BUILDING AT WATER

TOWER PLACE EA!

TH

DIRECTLY OPPOSITE THE ROYAL BAHAMAS POLICE FORC

HEADOUARTERS.

EFFECTIVE MONDAY JANUARY 17, 2011 THE FOLLOWING SECTIONS
WILL BE OPERATING FROM THE ABOVE LOCATION:

REVESUE SECTION

PENSION SECTION

PAYROLL SECTION

STAMP EXEMPTION SECTION

EFFECTIVE MONDAY JANUARY 24, 2011 THE PUBLIC TREASURY WILL
BE IS FULL OPERATION FROM THE ABOVE LOCATION,

CFA Society of The Bahamas &
The Bahamas Institute of Chartered
Accountants (BICA)

CFA Soctery af The Baliernas

2201 Officers &e Directors

Proniorrt! Co-Chour Progrccre

Senn Barebr, CFA

The Bank of Nova Scots Trt Commny
FO Bon 8-4, Naxan Bahu:

Phe (22) SE S018 Fans (22)

Vow Preccimi

Kawreni Pinter, CFA, CALA

EPG) Bonde dt Trot (Hotere) Lick

FO Bon 35 6200, Nox, Baha

Po: (22) SE M00) Fane 23) SO Sa
Tou

Anelree Strachein

(Chandon Lew Lid

PO Born W825, Maren, Bahra

Fhe (240) 30 OOS Faw: (242) 323 SE
Enrol rena hiooreorsy nat

Cena}

Vena Miler, CFA

Paywal Fadetbry Mencnat Boiik S Tinat
Liveted

PO Bor N04, Narcan, Haharras

Phe (240) Mig 770 Fao: (242) 306 0D
Enail vias Bi Vey

CoD war Progiaiie

Devil Renares, CFA

Frotet Bak & Trt Lad

PO Bow 9 4037, Maas, Bahan

Phe (242) SD 2207 Faas (282) 327 60
Eirail Segarey Pa et cogs

Btocahon & Srbobarsigy

Anetre Souza, CFA

Autiwal Seomines Lad

PO Bos SP 04)F9_ Saas. Balas

Phe (242) 2 790 Fae (242) MGT
Enrail apthe Dy helyal coat

Pebbe Raton

Chorlems AL Lavrtx-Sonall, CFA

KEM0 Copa Fine

PO) Bors 1.25, Movesan ahaaes

Phe (2) 4 0d Fae: (40) 0 1772
Enraat: chews Figpeag core. bn

Meaibersliag

Jenny Teck, CFA

LOM Securtims (Bakaren) Lid

PO Bon. CH 2762-525, Mina, Bahawans
Phe (2) SOY 00S Fan: (2) SEs
Eval ays chur koi cog

Past President

Chalknogher Dagsett, CRA

Civbaak HA. Batanas Beach

PO) Baws 9108, Marsan, Boahanvins

Phe (240) S02 8008 Fan: (247) 300

MONTHLY SPEAKER LUNCHEON

“Trends in Insolvency and Asset Recovery"

Wedueslay, February 9, 2011

13:00 pm
13:40 pm

Location:
Wimlsor Room A
Dewntomn Nassau

British Colonial Hilton

General Meeting
Speaker's Address
Please arrive {if comnptly?

doors on January 8, is on
pace to attract 30,000 cus-
tomers this month, and set
to “top out somewhere in
the 50,000 to 60,000” range.
Seventy people are now
employed there.

After a “humbling” expe-
rience, which saw issues
with the required installa-
tion of a fire sprinkler sys-
tem cause Robin Hood to
miss the lucrative Christmas
shopping season, and mil-
lions of dollars in potential
revenue lost, Mr Schaefer
said traffic at the store since
January § has “exceeded our
expectations”.

“It’s been good and sales
have been good,” said the
businessman in an interview
with Tribune Business dur-
ing the grand opening.

One of the = store’s
strengths is its location
immediately in the vicinity
of Prince Charles Drive, a
heavily-populated area, and
the fact that he was able to
obtain the property for a
“steal”.

Some $3.5 million was
then invested in the build-
ing, which has now been
appraised at around $8 mil-
lion, said Mr Schaefer.

“We bought it for proba-
bly one-third of its actual
value. That’s part of the
trick in being able to retail
at lower costs. If you are
paying higher rents the con-
sumer pays for that,” he not-
ed, adding that the compa-
ny’s sourcing of “98 per
cent” of its inventory direct-
ly from sources overseas,
cutting out “middle man”
wholesalers, also plays a
huge part in lower prices
offered.

Within the colourful and
airy store, a range of gro-
ceries, electronic appliances,
as well as hardware and
kitchen, bedroom and bath-
room products and furnish-

ings, are offered, as well as a
“full service” butchers and
bakery.

Within four weeks a Sco-
tiabank outlet, Cash 4 Gold,
music store and restaurant
will be up and running with-
in the store.

Asked to explain how the
store can be differentiated
by customers from the City
Market or Super Value
shopping experience, Mr
Schaefer said: “The store is
at least twice the size of any
City Market or Super Value.
In some cases it’s three
times the size. So, as a result
of the increase in size, the
variety of products we can
carry in terms of selection
is vastly different. For
instance, you will see with
us we have hundreds of teas,
hundreds of different spices,
a variety of cheeses and that
will be increased, 75 differ-
ent types of bread, coffees
and hard goods as well -
eletronics, appliances, hard-
ware.

“We aspire to be the Wal-
mart of the Bahamas.”

Meanwhile, Mr Schaefer
stressed his company’s com-
mitment to offer products at
lower prices than some of
his competitors.

Speaking to the impact of
the entry of Robin Hood
into the food retail market
as a whole, Mr Schaefer
contended that “no one can
deny” the introduction of
Robin Hood “has changed
the face of retail”, having
introduced greater compe-
tition into the environment.

“It forced everybody to
lower their prices and
improve their game, and the
beneficiary is the Bahami-
an consumer. That’s why we
are constantly looking at
ways to reinvent ourselves,
otherwise you get stale.
Now you see the foodstores
doing a better job and the
prices have gone down,” Mr
Schaefer said.

“The reality is that retail

Legal Notice

MIRAGE SHIPPING COMPANY LIMITED

(In Voluntary Liquidation)

Notice is hereby given in pursuance of Section

138 (8) of The International Business Companies
Act, 2000 (as amended) the Dissolution of the

above-named company has been completed, a

Certificate of Dissolution has been issued and the

above-named company has therefore been struck

off the Register. The date of the completion of the
dissolution was the 16th day of December 2010.

Bennet R. Atkinson
Liquidator



is a battle, and in battle you
are going to have some win-
ners and losers, and you are
going to have some casual-
ties, but that’s the way it is.
The second you think retail
is easy, non-confrontation-
al or competitive, well that’s
only when there’s a monop-
oly or an oligopoly, which
essentially there was. The
reality is now it’s a compet-
itive environment, and the
direct result of that is prices
drop and prices improve.”

Yesterday, most cus-
tomers approached by Tri-
bune Business said they
were generally pleased with
what they found at the store,
and its location.

Edward Virgil, a retiree,
said: “Anywhere where you
can get stuff a little bit
cheaper is always of inter-
est to me. I used to go down
the road to the one in Har-
rold Road, but I live in this
area so now that this is here
I really appreciate it and I
believe in the future. I
believe it will be well organ-
ised and stocked like the
one down on Harrold Road.

“T look for cheaper prices
and quality stuf,f and any-
one who is doing that is
right up my alley. I can’t say
Iam dedicated to any store,
but if you are selling things
cheaper I will come. If it’s
dearer, I will go elsewhere.”

Meanwhile, Michelle
Grey, 41, of Johnson Road,
said: “It’s different. There’s
a lot of variety in the meats
and the bakery stuff.”

Desmond Mason said he
now expects to do “nine out
of ten” of his grocery shop-
ping trips at the store. “It’s
spacious, the price is right
and it’s nice,” he said.

A 48 year-old Prince
Charles Drive woman said
she appreciated the specials
on offer and the proximity.

“It’s not as bountiful as
the one out on Harrold
Road, but we’re happy to
have it in the east. It will
save us the gas that it would
take to get out to the other
shop,” she said.

Mr Schaefer said he is
continuing to survey New
Providence for potential
locations for more new
Robin Hood stores. “We are
looking everywhere,” he
said. However, any further
expansion will not take
place until the Prince
Charles location is firmly
established.

“We’re looking to expand,
but we want to get this one
well situated first before we
do that.

“Growing for the sake of
growing doesn’t make sense.
Growing with your eye on
the profit line does. So we
will only expand if and when
the situation is right,” he
said.

Franchising of Robin
Hood into the Family
Islands is set to get under-
way “in the next two to
three months.”

GN-1170

Speaker Ednimnd Ralining, CPA, CFE

Mannging Director (Bahamas Office)
Krys Global

Members: 530,00; Som-Membpers: So0.00
Cheques payable to either : CFA Society of The Bahamas
or Bnhoouas [Institute of Chartered Accountants (BICA)

Reservation: = PREREGISTRATON REQUIRED =

by Friday, February 4, 2011, contact:
bewexecmitres hotmail.com, tel. 326 bbr9

Ednind Rahining is the Managing Director of Krvs Global. Ed ts a
Certified Public Accountant, a Certified Fraud Examiner and is
Certified in Financial Forensics by the American Institute of
Certified Public Accountants, He holds 2 MBA degree from the
University of Florida,

He hos over 13 years of experience across a broad range of
insolvency, fraud and forensic accounting investigations and
litkgation-related finaneial analyses. This experience was obtained
working for a Big Four accounting firm In the Bahamas, the
Cavman Islands, the U.S.A. and the U.K. He has worked on and led
a niiber of high profile insolvency and forensic accounting matters
ina variety of industries, including financial services,

Ed is a member of the American Institute of Certified Public
Accountants, the American Bankruptcy Institute, the Association of
Certified Froud Examiners and the Bahamas Institute of Chartered
Accountants,

BICA Members: This event qualifies for 2 CPE hours



MINISTRY OF TOURISM & AVIATION
DEPARTMENT OF CIVIL AVIATION

PARTICULARS OF AN APPLICATION TO OPERATE SCHEDULED AIR SERVICES

In accordance with the provisions of Regulation 9 of the Civil Aviation (Licensing of Air Services)
Regulations 1976, the Minister responsible for Aviation hereby publishes the following particulars of the
under-mentioned applicant to operate scheduled air services to and from The Bahamas.

6.

7.

PARTICULARS OF APPLICATION

Application:

WESTERN AIR.

Date of first publication: 1) yee eu DOLPY, y aS \\

Routes: BETWEEN

ON THE OTHER.

« NASSAU ON THE ONE HAND AND JACKSONVILLE, FT. LAUDERDALE AND HAVANA

.« FREEPORT AND MARSH HARBOUR ON THE ONE HAND AND FT. LAUDERDALE ON

THE OTHER.

Purpose of services: Passenger, mail and freight.

Provisional time table:

NASSAU/JACKSONVILLE
JACKSONVILLE/NASSAU
NASSAU/FT. LAUDERDALE

FT. LAUDERDALE/NASSAU
NASSAU/HAVANA

HAVANA/NASSAU

FREEPORT/FT. LAUDERDALE

FT, LAUDERDALE/FREEPORT
MARSH HARBOUR/FT. LAUDERDALE
FT. LAUDERDALE/MARSH HARBOUR

Frequency of flights: See above time-table.

Type of Aircraft: SAAB 340

Local Times

1000/1130 WED/FRI/SUN

“«

1200/1330
0700/0755 DAILY
0900/1030 WED/FRI/SUN
0900/1030 7 = =
1200/1330 s
0700/0730 DAILY
0830/0900 a
0900/1000 DAILY
1100/1200

“« “

Any representation regarding or objection thereto in accordance with Regulation 10 must be received by the.
Permanent Secretary, Ministry of Tourism & Aviation & the Department of Civil Aviation within fourteen
(14) days after the date of first publication of this Notice.



Signed:

HYACINTH PRATT
PERMANENT SECRETARY

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



‘i The Tribune &

im lovin

SOF
69F

SUNNY
AND NICE

Volume: 107 No.57





LATEST TATE EWE ON WWW.TRIBUNE242.COM F&

HIGH
LOW

MONDAY, JANUARY 31, 2011

eS

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

=
=
=
“0)
Es



SEE PAGE 12B



ah

AND REAL Leis
BAHAMAS BIGGEST





Cyclist rowel
flown and Killed

Car chased down
51-year-old victim

A CYCLIST was mowed
down and killed after being
chased by the driver of a sil-
ver coloured Pontiac on East
Street.

Witnesses saw the victim, a
51-year-old male resident of
Sunlight Village, being pur-
sued by the driver moments
before he was hit and left
lying on the side of the road.

The driver allegedly tried
to leave the scene of the crime
but crashed into another car,
a 2001 Ford Taurus, which
was travelling south on East
Street.

Police have classified the
death as a murder. A 44-year-
old male of Lucky Hart Cor-
ner is assisting police with
their investigation.

The victim’s body is to be
identified this morning, police
said, declining to release fur-
ther details until this process
has been complete.

Press Liaison Officer
Sergeant Chrislyn Skippings
said the incident occurred
around 10.35pm on Friday
when police received infor-
mation that a man was struck
off his bicycle while riding at

the juncture of East Street
and Sunlight Village.

Responding officers found
the man, clad in khaki pants
and a khaki shirt, lying on the
side of the street.

Witnesses told police the
victim was riding his bicycle
north on East Street when the
driver of a silver coloured
Pontiac vehicle struck him
from his bicycle.

"Tt is further reported that
the driver of the Pontiac was
observed chasing the male on
the bicycle prior to him being
struck,” said Sgt Skippings.

Police are also investigat-
ing two shootings that
occurred over the weekend.

Around 4am yesterday,
police received information
of a shooting in Lower Bogue,
Eleuthera. Officers were told
that a man was at home when
he was wakened by another
male inside his home armed
with a handgun.

"Tt is reported that the cul-
prit fired gunshots at the male
which resulted in him receiv-
ing gunshot injuries to the

SEE page 10

Pre-inventory clearance

Sale

YOY,

Sah

arth Ry






Felipé Major/Tribune staff

SEE SECTION E

PLP ‘WILL
AGGRESSIVELY
RENEGOTIATE’
BIC SALE

IF ELECTED

IF the PLP should win the
next general election, it will
“ageressively renegotiate”
the terms of the sale of BTC
which it deems “repugnant
to the national interest,”
opposition leader Perry
Christie said at the party’s
Grand Bahama conclave
over the weekend.

“If the FNM administra-
tion proceeds against the

SEE page 10

WHAT A SHOW: Pictured above is some spectacular entertainment from Friday night’ S 14th Annual Cacique Awards. Among the win-
ners on the night was Ali Bain (inset with Minister of Tourism Vincent Vanderpool-Wallace) who won the Minister’s Award for Hospitality.
¢ SEE PAGE TWO

DISAPPOINTMENT OVER SMALL
NUMBER OF DEFENDANTS USING ©
PLEA BARGAINING SYSTEM

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

LEGAL experts are disap-
pointed in the small number
of accused criminals who
have used the plea bargaining
system since its legislation
was passed in 2008.

Government hoped the
availability of plea bargain-
ing would have prompted
defendants to plead guilty to
their charge and receive a
recommendation to serve less
than the maximum sentence.
However Attorney General
John Delaney told The Tri-

SEE page 12

rq FC

CANAL! ye

THE SMART CHOICE

when you are hungry for a value



CHRISTIE: GOVERNMENT MUST BE
_ CAREFUL ABOUT CHANGING GRAND
BAHAMA ECONOMIC STRUCTURE

OPPOSITION leader
Perry Christie said while he
feels the revenue that
would come from the expi-
ration of tax exemptions
under the Hawksbill Creck
Agreement would be a
great benefit to the public
treasury and to the Bahami-
an people, a government

Snacker Deal
# Small Chicken Sandwiches
wi Lettuce & Mayo



NASSAU AND BAHAMA



ISEANDS* LEADING NEWSPAPER

must be careful about
changing the economic
structure of Grand Bahama
so it does not “kill the goose
that laid the golden egg.”
Mr Christie made the
statement during a PLP
conclave in Grand Bahama
over the weekend where he

SEE page 10

Nassau



PAGE 2, MONDAY, JANUARY 31, 2011



1 ATION
/

HOTELIERS, chefs, musi-
cians, writers and airlines were
among those recognised at the
14th Cacique Awards, where the
country’s youth received words
of encouragement from Life-
time Achievement Award win-
ner, Majestic Tours proprietor,
William “Bill” Saunders.

Addressing young Bahami-
ans, Mr Saunders told them they
can do anything they can dream
of if they have a vision.

The awards, which recognise
individuals who have made a
contribution to tourism in The
Bahamas, were held at the Rain-
forest Theatre at the Wyndham
Nassau Resort on Friday.

Ahead of the awards it was
announced that Mr Saunders
was to be the recipient of the
Lifetime Achievement Award,
while George Markantonis,
President and Managing Direc-
tor of Kerzner International
(Bahamas), which owns and
operates the Atlantis resort, was
recognised as Hotelier of the
Year.

In addition to these two top
awards, awards were announced
in categories including Sustain-
able Tourism, Handicrafts, Man-
ager of the Year and Cruise
Line of the Year.

Accepting his award, Mr
Saunders told young people:
“You can be whatever you
aspire to be, providing you have
the dedication and the vision to
make it happen.”

“You don’t have to be born
into a family of wealth. I came
from a poor family but I knew
what I wanted to do at a point
and time in my life. I aspired to

AATS. ANTS, TERMITES,
AQACHES, FLIES, MOSOLSTORS,
TICKS & FLEAS
PHONE: 3227-6464
www. struckum,.com
WE SEND ‘EM PACKIN!







GEORGE MARKANTONIS, President and Managing Director of

a

Kerzner International (Bahamas), which owns and operates the
Atlantis resort, was recognised as Hotelier of the Year.

do it. I had a vision for it, and I
had the dedication. Tonight I
am happy to be here at 81, a
Cacique.

“My blessings are from my
heavenly father above. They are
not only pertaining to my health,
but they pertain to my success.
And my message to the young
people tonight is you can do it.
Have the vision and the dedica-
tion, and you move forward with
your life.”

Mr Markantonis said every-
body in the tourism sector, espe-
cially over the last two years,
deserves an award for their hard
work. He said whatever he and
his team at Kerzner Interna-
tional Bahamas have done so
far, will be done even better in
the coming years.

“There is one way we are
going to win,” he said. “If we
really believe in this country, we
will succeed from tourism across
the board, and that’s because
we are always going to be more
aggressive and more creative
than anybody else, and on top of
that, we are going to do every-
thing in a much more energetic
fashion.”

Others recognised during the
evening were recently-departed
tourism contributors, among
them Sir Clement T Maynard,
the former Minister of Tourism

Felipé Major/Tribune staff

for whom the Minister’s Award
for Hospitality is now named.

Tribute also went out to for-
mer Cacique sound engineers
Lavard Curtis and Clarence
“Nat” Williams, who died in a
plane crash in October, 2010.

Winners in all categories
were:

Sustainable Tourism — Stuart
Cove, Nassau

Handicraft — Dorothy Miller,
Long Island

Transportation - SkyBahamas

Sports, Leisure & Events —
Justin Sands, Abaco

Human Resources Develop-
ment — Marilyn Brennen,
Lyford Cay Club

Creative Arts —- Bahamas
National Youth Choir, Nassau

Minister’s Award for Hospi-
tality — Ali Bain, Nassau

Lifetime Achievement -
William “Bill” Saunders

People’s Choice Award,
Gospel — Shaback, Nassau

People’s Choice Award, Sec-
ular — KB and The Sting, Nassau

Supervisor of the Year — Vivi-
enne Haynes, Kerzner Interna-
tional Bahamas

Sales Executive of the Year —
Molly McIntosh, Green Turtle
Cay Club and Marina

Employee of the Year —
Micklyn Lightbourne, Sandals
Royal Bahamian Spa and

COMMERCIAL & RESIDENTIAL

CUSTOMERS

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YOUR ELECTRICITY
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THE TRIBUNE

Reyer

CACIQ



WILLIAM ‘BILL’ SAUNDERS receives the Lifetime Achievement Award from Tourism Director
General David Johnson.

SHABACK won the People’
Choice Award, Gospel.

Resort

Chef of the Year — Michael
Adderley, Kerzner Internation-
al Bahamas

Manager of the Year —
Kressville P. Ritchie, Sandals
Royal Bahamian Spa and
Resort

Hotelier of the Year —
George Markantonis, Kerzner
International Bahamas

Tour Operator of the Year —
CheapCaribbean.com

Cruise Line of the Year —
Royal Caribbean International

Travel Writer of the Year —
Thomas Haines, AOPA Maga-
zine

Airline of the Year — JetBlue
Airways



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THE TRIBUNE



MONDAY, JANUARY 31, 2011, PAGE 3

LOCAL NEWS

Christie: Stop
PLP bickering in
Grand Bahama

THE bickering and dis-
unity within the ranks of
PLPs in Grand Bahama
should stop immediately so
the party can concentrate
on winning the next gener-
al election, opposition
leader Perry Christie said
at a PLP conclave in Grand
Bahama over the weekend.

He said this was no time
for there to be divisiveness
or disunity within the ranks
of PLP, and instead they
must be cohesive and unit-
ed.

“The PLP of Grand
Bahama has to get out of
the disunity business,” he
said.

“The bickering and in-
fighting has got to stop.
There is just too much of
it, especially here in Grand
Bahama. We need to work
together. After all, we are
joined together in a com-
mon cause and we all know
who our common political
enemy is. So why can’t we
keep those things that unite
us at the forefront of our

“The bickering
and in-fighting
has got to stop.
There is just
too much of it,
especially here
in Grand
Bahama.”



Perry Christie

minds and lay aside the
things that divide us?

“We have to unite to
fight. Believe me, my
brothers and sisters, there
is no other way to succeed,
there is no other way to
win.”

The opposition leader
said party members need
to put the party machinery
in Grand Bahama, in the
whole northern Bahamas,
in a State of readiness.



“We need now to put it
in a state of high alert. We
are entering now the final
phase of preparation for
the next general election.
As the party in opposition,
we start off with a strate-
gic disadvantage: we do not
know when the next gener-
al election will be held.

“Since we don’t know
that, and won’t know that,
it behooves us all to get
ready from now. We need

PLPS at Saturday night’s party
conclave in Grand Bahama.

to ensure that when the bell
is sounded, we will find
ourselves in full readiness
for battle.

“We need to proceed on
the premise that the next
general election will be
called sooner rather than
later.

“Tf time proves us wrong
and the election is actually
called later rather than
sooner we will have lost
nothing by having prepared
for an early contest,” Mr
Christie said.

Davis: FNM must say how much of
S63m will be invested in Grand Bahama

PLP Deputy demands
answers over tax revenue
from sale of BORCO



PLP DEPUTY LEADER Philip ‘Brave’ Davis speaks at Saturday’s

conclave on Grand Bahama.



THE FNM must tell the
people of Grand Bahama
how much of the $63 mil-
lion in tax revenue it
received from the sale of
BORCO to Buckeye Part-
ners will be invested in the
economically-strapped
island, PLP deputy leader
Philip “Brave” Davis said
at a PLP conclave on the
island over the weekend.

Mr Davis said consider-
ing the poor financial
future facing the island, all
of the money should go to
the people of Grand
Bahama.

The sale of BORCO was
the biggest sale of any
company in the history of
the Bahamas. The deal,
which was for the sale of
a portion of BORCO to
Buckeye Partners, amount-
ed $1.36 billion.

“This sale, my fellow
PLPs, will give the govern-
ment around $63 million
in tax revenue. The ques-
tion you should ask the
government is how much
of this $63 million will go
to the people of Grand
Bahama? What happened
to the tens of millions in
stamp tax that was collect-
ed from the sale of Vopak?
Why aren’t all those mil-
lions of dollars being spent
right here where it is most
needed? It is needed here
in Grand Bahama. It is
needed now,” Mr Davis
said.

He said if he should
become the next deputy
Prime Minister the PLP
will move Grand Bahama
forward and make Grand
Bahama grand again.

Programmes

“We will reinstitute and
create powerful and far-
reaching educational, civic
and community pro-
grammes to address grow-
ing social concerns. We
commit tonight to help
those that are destitute
find employment and
restore hope. We will
empower our young men
and women,” the deputy
leader said.

The PLP, Mr Davis said,
will aggressively promote
Grand Bahama as a place
for commercial and tourist
development.

“We will place a major
focus on attracting off-
shore financial services
companies and e-business
to these shores.

“We will make Grand
Bahama grand again,” he
said.

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PAGE 4, MONDAY, JANUARY 31, 2011

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 1972-1991

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

TELEPHONE
Switchboard (News, Circulation and Advertising) 322-1986

Courts cooperating with the police

OPERATION Rapid Strike, launched on
the night of January 20 by Commissioner of
Police Ellison Greenslade, is starting to pay
dividends as police target “prolific offend-
ers.”

As crime continues to escalate, police are
confident that with the cooperation of the
courts they can make a tremendous difference
by taking repeat offenders out of circulation.

An investigation of most crimes committed
today reveals that they involve persons with
long rap sheets accused of murder, attempt-
ed murder, break-ins and numerous other
skirmishes with the law — all out on bail
awaiting their day in court. The police are
starting to round them up, and with the coop-
eration of the courts, will get them before
Justice as quickly as possible.

Mr Greenslade has said that the police
are very pleased with the assistance being
provided by the Office of the Attorney Gen-
eral and for its new policy of bringing those
accused of gun crimes before the courts in a
matter of weeks.

It is not unusual to hear a discouraged
police officer, shrugging his shoulders in
defeat, complain that as soon as the police
take an offender off the streets, some lawyer
gets the courts to grant him bail, and the
police chase starts all over again. The police
are getting tired of chasing the same old law
breakers. It is hoped that the courts will get
the message and, instead of being a part of
the problem, will now make every effort to
work with the police for the safety of the
community. Magistrates can now stop their
ears to the bail pleas of the lawyers.

It is only commonsense that it serves no
purpose to return “prolific offenders” to the
community. In fact it is forcing them back
into crime. They can only survive if they can
find employment. But who is going to employ
anyone who is out on bail for murder,

attempted murder, gun possession or steal-
ing? Not being able to earn an honest living,
they cannot supply food for their table, nor
find the down payment for their lawyer.
Crime is their only profession. It is the only
profession that they know of that brings
returns, if they can escape the bullet of a
rival.

How many of those persons, now
deceased, would still be alive today if they
were behind bars awaiting trial, instead of
on the streets preying on the public? Among
the homicides that we report are men on bail,
gunned down by another, also on bail. While
awaiting trial they are busy settling old scores.

A mother said to us recently after one
such killing, that if it were her son, she would
insist that he be kept behind bars until his
case was called — at least in jail she would
know that he was safe.

Many offenders laugh and brag about how
quickly certain lawyers can spring them from
jail. It is no wonder that they are not attract-
ed to the new plea bargaining system, which
became law in 2008. As long as they can get
long stretches of freedom, hoping that the
court system will get so bogged down that
their case eventually will be forgotten, they
won’t be overly anxious to confess their sins
and negotiate their prison time. However,
with speedier trials, there is no longer an
excuse for bail, but more incentive for them
to sing and avoid court.

Last year there were only two criminal
courts. By next week there should be four.

"With the immediacy of a trial, that tends
to concentrate the mind and people will take
opportunities to plead guilty or come to an
arrangement by which they can pay for their
crime," said Attorney General John Delaney.

Meanwhile, the police are back on the
streets working hard to make them safe for
law-abiding citizens.

Non-functioning traffic lights

These non-functioning traffic lights
throughout the island are a serious traffic
hazard. Despite the complaints of the public,
there seems to be no solution. When some of
the lights are repaired, the repair lasts two
weeks at the most. There are lights that can
be seen by motorists travelling in one direc-
tion, but not by motorists travelling in the
other. In other words when a car arrives at a
working traffic light, directing it from the
south to the north, the driver travelling in
an east west direction arriving at the same
intersection cannot see the light that should
be directing him across the path of the south-
north driver. Therefore, the driver going from

the south to the north gets the green light,
while the driver moving east-west can see no
red light, because it in not directed in such a
way that he can see it.

And then there is the intersection —Mon-
tagu, Village Road, for example — where
nothing works, and the courtesy of drivers
stopped in three lanes of traffic has to be
relied on to prevent a collision.

Really this is not good enough. It would be
appreciated if someone would at least give an
explanation of what has gone wrong with our
traffic lights. But even more important, some-
one should get to work and repair them
urgently.



THE TRIBUNE



Call for cost
of living wage
increases

EDITOR, The Tribune.

I WORK for a private
company. One that has been
in operation since the 1920s.
It is a family run company
with no public shareholders.
As is the case for a lot com-
panies, our business has
dropped off considerably
over the past couple of years
and we employees are in
constant fear of losing are
jobs and health insurance.
As anyone alive today
knows, these are hard times
we are living in. The cost of
everything has skyrocketed
over the past couple of
years. Everything goes up
except our income! Unlike
government workers who
have the luxury of receiving
increases every couple of
years, we in the private sec-
tor are not all so lucky. Pm
sure there are some compa-
nies that give regular raises,
but the one I work for is not
one of them.

We have people here
who have not had an
increase in take home pay
for decades. One gentleman
hired in 1987 is today still
carrying home the amount
he was hired at. I myself
have not had an increase
since 1997. I have been giv-
en more things to do, more
responsibility, but no raise.
We have received increases
on paper, when Insurance
goes up, but nothing extra
in take home pay. Our boss-
es tell us we can consider it a
raise when our health insur-
ance goes up but they don’t
deduct any more from our
wages.

One of our bosses actual-
ly made the following state-
ments when we ask about
wage increases. “There’s no
point in companies giving
raises because it makes the
cost of everything go up.”
Or, when being told of how
hard his employees have it
trying to save money, one
said: “It’s just as easy for a
man making $100 a week to
save $10 as it is for a man
making $1000 to save $100!”
One day a meeting was
called, nobody knew what it
was about, so when the boss
came into the office one of
the young men asked: “Are





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we getting raises?” Our boss
said: “Yeah, turn around
and bend over!” while he
made a kicking motion with
his foot.

Why continue working for
such a company? Because
many of us will surely lose
our health insurance if we
leave. We have medical con-
ditions that will not be cov-
ered if we have to join
another group. Some of us
have illnesses that will pre-
vent us from getting insur-
ance at all if we leave. We
don’t stay because of our
pension plans either, we
don’t have one!

I say all that to say this.
The Government has
become very proficient at
squeezing Joe Public for
every dime they can get. It’s
now time for the Govern-
ment to ensure that Joe
Public is not financially
obliterated by doing so.
Some employees in the pri-
vate sector are not treated
fairly by their employers.
Government, in my opinion,
must make it law that a
company not giving its
employees raises must give a
cost of living increase at
least biannually. Perhaps

government could give some
incentive to companies to
do so, ie, a reduction in
business license tax for any
company having given raises
that year.

The increase should be
tied to inflation. If inflation
is 2 per cent the raise should
be 2 per cent. This is not a
raise really. All the employ-
ee would be doing is keep-
ing pace with the ever
increasing cost of living. It
should not be possible for a
person to work for years and
years and become poorer
and poorer every year. A
person working for decades
at a company should be able
to progress in life, not
regress. The last time I
received an increase it was
1997. If you figure inflation
averaged 2 per cent per
year, times 14 years, that
amounts to 28 per cent. In
real terms I have received a
28 per cent pay cut since
1997.

We are diligently working
ourselves into poverty! Our
bosses don’t care. Our Gov-
ernment must show that it
cares. I call on the powers
that be to address this wrong
that is being done to
Bahamians.

Nassau,
January, 2011.

Praise for Anglican
bishops converting
to Catholicism

EDITOR, The Tribune.

I commend the three Anglican bishops who converted to

Catholicism on Saturday.

Their act marks the historical beginning of what promises
to be a mass exodus of Anglicans over to the Catholic church.

The movement is being spurred on by the growing accep-
tance within the Anglican communion of female bishops,
practising homosexual clergy, and disagreements over the pri-
macy of Sacred Scripture within the Church.

Sadly, some people want to measure the truth of the faith

by modern society’s standards.

They mistakenly believe that divine Revelation must adapt
itself to the current mentality in order to be credible, instead
of the current mentality converting in the light that comes to

us from on high.

The result is a stripping of the Redeemer of man of his rad-
ical uniqueness, and classifying him as someone who can

be managed and domesticated.

Anglican traditionalist should take heart.

They are always welcome back to the fullness of truth
that resides, with all its pristine beauty and splendour, inside
the Catholic Church. I encourage everyone — including
agnostics, atheists and dissenting Catholics — who are tossed
about by the waves of false doctrines, to climb aboard the
barque of Peter for it will be their only safe haven in these

troubling times.

PAUL KOKOSKI
Canada,
January 16, 2011.

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THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 5



LOCAL NEWS



‘Very productive’
48 hours for ‘Rapid

Strike’ operation

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

RAPID Strike netted seven suspects, five
illegal firearms and more than 100 rounds of
ammunition withon 48 hours, said Commis-
sioner of Police Ellison Greenslade.

Law enforcement officials praised the
Royal Bahamas Police Force's new crime-
fighting operation as successful in getting
illegal firearms and potential offenders off
the streets.

"We had a very productive 48 hours. We
recovered five illegal weapons and over 100
rounds of ammunition. We have seven per-
sons in custody as a result and we are very
optimistic that on Monday we will get some
traction. We are very encouraged by what
has happened thus far," said Mr Greenslade.

Mr Greenslade added that on Thursday
night the operation was able to diffuse a
potentially dangerous situation in the
Carmichael Road area.

"Our officers drove right into an armed
robbery in progress. The assailant had a pis-
tol cocked with live rounds in the chamber
and that could have turned out really bad.

"Fortunately no shots were fired, the man
was arrested, the gun was recovered. We
believe that our response is measured, it
was professional, it is what is required and as
commissioner I am satisfied that everything
is being done properly."

Four persons caught under Rapid Strike
are expected to be arraigned in Magistrate's
Court today on gun crimes.

"We're very pleased with this collaborative
effort and the assistance being provided by
the Office of the Attorney General,” added
Mr Greenslade, applauding officials in the
Attorney General's Office for their new pol-

PRODUCTIVE: Police Commissioner
Ellison Greenslade

icy — which aims to bring those accused of
gun crimes to trial in a matter of weeks — and
co-operation.

Rapid Strike was launched nearly two
weeks ago in a continued effort by the police
to reduce the escalating number of serious
crimes occurring throughout the Bahamas.
Heavily-armed units were deployed to patrol
"hot spot” areas throughout New Provi-
dence and caused 14 arrests in its first 24
hours of operation.

The unit will be concentrating on trou-
blespots and targeted profiles, which include
people suspected of engaging in unlawful
activity such as murder, armed robbery, ille-
gal firearm possession, house break-ins,
Stealing and stabbing.

$21,000 worth of cocaine
and illegal firearm found

POLICE seized $21,000
worth of cocaine and mari-
juana and an illegal firearm
during a search of a home on
Shady Lane.

Officers from the Drug
Enforcement Unit, acting on
information, conducted the
search around 9pm on Satur-
day. When they arrived at the
home, located off Burial
Ground Corner, the officers
heard people inside the resi-
dence talking.

The officers reported they
identified themselves as police
and attempted to gain entry.
When the officers heard
movements inside the home
they entered and discovered
that the occupants had fled
the scene. The DEU searched
the home and found a hand-
gun with an assortment of
ammunition.

Officers also discovered 18
pounds of suspected marijua-
na and half a pound of sus-
pected cocaine with a street
value of $18,000 and $3,000
respectively.

Up to press time no arrests

were made but police say they
are following significant leads
into this matter.

FIREARM ARREST

Meantime police arrested a
21-year-old male resident of
Lobster Avenue around
11.15pm Saturday for alleged-
ly possessing a handgun.

Officers of the mobile divi-
sion were on routine patrol
on Hay Street when they saw
the suspect "acting suspi-
ciously." A subsequent search
of the man allegedly uncov-
ered a handgun with ammu-
nition.

Police also report they
recovered a shotgun hidden
in bushes in Morrisville, Long
Island. The find was made
around 7am on Saturday after
police, acting on information,
searched the bushy area.

Three people were taken
into custody. Police investiga-
tions continue.

STOLEN VEHICLES
RECOVERED
Police also recovered six

stolen vehicles that were
found as officers patrolled the
area of Sir Milo Butler High-
way off Carmichael Road.

Tt was 10 am Saturday when
officers of the Traffic Division
found four Honda model cars
and two Nissan Sentras — all
stripped.

No suspects were taken into
custody.

STOLEN VEHICLES

Police yesterday appealed
for the public's help in locat-
ing the following stolen vehi-
cles: a 2001 silver coloured
right-hand drive Honda
Accord licence plate number
236192 and a 1999 grey
coloured right-hand drive
Honda Accord.

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PAGE 8, MONDAY, JANUARY 31, 2011

THE TRIBUNE



LOCAL NEWS

Phase two of the
house numbering
exercise begins

By KATHRYN CAMPBELL
Bahamas Information Services

THE Government has activated the second
phase of its street naming and house numbering
exercise.

The project is designed to make it easier to
locate businesses and houses throughout New
Providence and is a part of the six-month nation-
al jobs programme.

Delmar Bowe, the Ministry of Public Works
and Transport supervisor, said he pleased with
the progress of the project which began on Janu-
ary 10. He said to date, 1,500 houses and busi-
nesses have been numbered in the exercise which
runs from the East West Highway to Coral Har-
bour. Twenty-four persons are employed on the
house numbering and street naming projects.

Mr Bowe credits the success of the project to
emphasis placed on the importance of clarity,
accuracy and consistency of their job.

“We must be accurate and consistent and take
each day at a time to get things done,” he said.

He explained that once new numbers have been
erected, the old numbers would remain for an
indefinite period of time.

“Our employees compile the data on sight
including the existing number and the new number
that is assigned. All of the utility companies have
to be informed of the changes and until such time

the old numbers will stay on the buildings.

“We distribute flyers to the owners advising
them to make their properties accessible so that
Ministry of Works employees can install the num-
bers. If a resident is not at home and we cannot
access their property we would place the number
on an outdoor wall. Otherwise we would leave
the number and ask the residents to install the
number themselves.”

Mr Bowe said field surveys conducted during
phase one reveal “there were deficiencies to build-
ings that have not yet been numbered and build-
ings that were wrongly numbered in the past”.

Employees assigned to this task will be proper-
ly identified and due care will be taken not to
damage the owners’ property. Employees will
have an identification card to indicate they are a
part of the Ministry of Public Works and Trans-
port’s house numbering team.

The official numbering system is north to south
or east to west with even numbers on the right side
of the street and odd numbers on the left side.



DELMAR BOWE, (far right) project supervisor for the
Ministry of Public Works and Transport’s house num-
bering exercise talks about the project as Valdeshia

Bethel (centre) and Rebecca Russell look on.

COSTA RICA: NETWORK USED FISHERMEN ‘TO SHIP COCAINE’

Patrick Hanna/BIS

SAN JOSE, Costa Rica

COSTA RICAN authori-
ties say they have dismantled
a cocaine smuggling network
that used fishing vessels to
ship drugs from Ecuador and
Colombia through Central
America and into Mexico,
according to Associated Press.

The Security Ministry says
in a Sunday statement that
the Colombian-run network
paid fishermen to haul
cocaine to Guatemala and
Mexico.

The ministry says raids in
the Costa Rican capital of San
Jose and in the Pacific coast
city of Puntarenas were car-

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ried out Saturday. Five
Colombians and a Costa
Rican national were arrested.

Costa Rican officials say
powerful drug cartels are
increasingly using the coun-
try as a transshipment point
for cocaine — much of it ulti-
mately bound for the United
States.

Zz



PROJECT SUPERVISOR Delmar Bowe (far right) gives instructions to John Bannister pictured in hat
and Antoine Minnis who install numbers on a home in Bougainvillea Boulevard, South Beach.




















ASSISTANT COMPTROLLER of Customs, Gary Smith (standing centre) poses with other staff
members from the Customs Department, the Persis Rodgers Home for the Aged staff including
Frances Ledee, administrator, (standing far right) and some of the senior citizens residing at the home,
Thursday, January 26. Staff from the Bahamas Customs Department visited 12 senior citizens


















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homes serving the residents lunch.

By LLONELLA GILBERT
Bahamas Information
Services

CUSTOMS department
staff celebrated Internation-
al Customs Day by serving
lunch to senior citizens at
various homes.

The Assistant Comptrol-
ler of Customs, Gary Smith,
who was helping out at the
Persis Rodgers Home for the
Aged, said serving the senior
citizens lunch has been a tra-
dition for 22 years.

“The staff in the various
sections of Customs donates
the food, and we go to some
12 senior citizens homes
throughout the island of New
Providence where we hon-
our those on whose shoul-
ders we stand by providing
them with lunch,” Mr Smith
said.

“Over the years, some of
them have developed partic-
ular friendships with certain
homes, so some staff mem-
bers choose particular homes
because the people know



Derek Smith/BIS

them; but we also have some
new people onboard and
they are following in the tra-
dition.”

The celebrations started
with a church service at St
Matthew’s Anglican Church
Sunday.

On Saturday there was a
fun day at Customs head-
quarters for children from
various homes.

The World Customs
Organisation was formed in
1947 with 13 European gov-
ernments agreeing to set up
a study group to examine the
possibility of establishing one
or more Inter-European cus-
toms unions based on the
principles of the General
Agreement of Tariffs and
Trade (GATT).

Out of this body the Cus-
toms Co-operation Council
(CCC) was born, being for-
mally established in 1952.
After many years of mem-
bership growth, the CCC
adopted the working name
of World Customs Organi-
sation.

It was at a meeting in 1963
that the date of January
26 was formalised as a
day set aside to honour
and recognise the achieve-
ments of Customs Officers
in their various administra-
tions.

It was called “Internation-
al Customs Day” and
observed to honour long-
serving officers, participation
in community activities, town
meetings, seminars and
workshops to interact with
and inform stakeholders
about relevant Customs mat-
ters including changes in pro-
cedures and generally form
mutual partnerships affect-
ing Global Trade.

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





THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 9



Sean Connery immortalised

with sculpture in Estonia

REAL ESTATE:
Preventing
inspection delays

By MIKE LIGHTBOURNE

NO MATTER
how much you
prepare, real
estate closings
almost always take
longer than they
should.

Sometimes
unbearably longer.

Delays could fall
into three major
categories: financ-
ing, legal delays
(sometimes just
getting a simple
sales contract
agreed to) and
possibly inspec-
tions.

Getting estimates and negotiating
repairs can really hold up a transaction,
but there are ways to speed up the
process.

One option is for vendors to procure
a pre-listing inspection and make
repairs before the first potential pur-
chaser sets foot in the home.

However, this can be a costly
expense for vendors, especially when
purchasers may arrange for their own
inspection after making an offer, and
there can often be great differences in
estimated costs.

A better alternative is for the BREA
listing agent to walk through the home
with the vendors, noting the age and
the condition of major components of
the home and securing estimates for
potential repairs.

Vendors may not have to fix the
problems, but having an idea of the
cost of repairs will help them price the
home fairly, as well as reduce the time
necessary for purchasers to negotiate
the costs.

This is an excellent preventative and
proactive step towards a successful
and, hopefully, speedy closing.

(Mike Lightbourn is president of
Coldwell Banker Lightbourn Realty).






By JARI TANNER
Associated Press

TALLINN, Estonia (AP) —
He's been honoured with an
Oscar and British knighthood.
As of Thursday, Sean Connery
can count a bronze sculpture in
the Estonian capital among his
tributes.

The bust of Scotland's most
famous actor was unveiled by
British Ambassador Peter Carter
outside Tallinn's Scottish Club,
whose members include Estoni-
ans enamored with Scotland and
a handful of expatriate Scots.

"Sir Sean Connery is, without
a doubt, an icon,” Carter told
dozens of invited guests. "He is
variously known as James Bond
or the sexiest man of the century.
He's a great British actor, a great
Scot actor and a great symbol for
Scotland."

The Scottish Club, which start-
ed as a whiskey sampling society
in the early 1990s, got the idea
of honouring "Scots who have
made a difference" a few years
back, said president Mart
Haamer. It already has a bust of
18th century Scottish poet
Robert Burns.

Haamer read a brief statement
from the 80-year-old actor, who
won an Academy Award for a
supporting role in "The Untouch-
ables."

"One cannot help but be flat-
tered by the Scottish Club's ges-
ture. My best wishes to the mem-
bers of the club and to all the
people who made this possible,"
the statement said.

A vocal supporter of the pro-
independence Scottish National
Party, Connery lives in the
Bahamas and has said he will not
live in Scotland again until it
gains independence from the

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BRITISH AMBASSADOR Peter Cater looks at a bronze bust of Oscar-winning actor Sean Connery, a prominent Scottish nation-
alist, after unveiling it at the Scottish Club in Tallin, Estonia. The bust was created by Estonia's most famous sculptor Tiiu Kir-
sipuu, and is intended to mark the year Sir Sean turned 80. The club itself was first founded in 1993 as a whisky society, but
became associated with prominent politicians and top business figures. Based in the heart of Tallinn's Unesco heritage site,
its staff serve guests dressed in kilts, while the carpet is tartan. (AP)

United Kingdom.

However, Carter noted that Sh VY
"the fact that he has accepted are our news

knighthood, suggests that he is
also a great supporter of the
queen."

Connery was knighted in 2000.

The 10,000 ($14,000) bust by
Estonian sculptor Tiiu Kirsipuu
was financed through private
donations and depicts a bearded
Connery at a mature age.

"T think the older he gets, the
more charming he becomes,"
Kirsipuu said.

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps

you are raising funds fora
good cause, campaigning
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.



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PAGE 10, MONDAY, JANUARY 31, 2011

THE TRIBUNE



LOCAL NEWS



The PLP ‘would agressively
renegotiate’ the BTC sale

FROM page one

advice of the PLP and sells to
Cable and Wireless, we put
Cable and Wireless on notice
of our central position that
the sale to Cable and Wire-
less is not in the national
interest, and when we
return to Government we
will re-examine all of the
provisions of the deal and
we will aggressively rene-
gotiate the terms of the
agreement that we deem
repugnant to the national
interest,” Mr Christie said.

The opposition leader
said his party believes this
course of action is in accor-
dance with the wishes of the
country and is consistent
with the PLP's core values
and constitution.

He said the party will

aggressively explore lawful
ways and means by which
Bahamian ownership of
BTC can be enhanced,
through the offering of
shares to the Bahamian
public, with appropriate
controls to prevent the con-
centration of shares into the
hands of one group or fam-
ily, whether Bahamian or
foreign.

“We believe that BTC
should then be opened to
competition and the
telecommunications market
liberalised as soon as is rea-
sonably practicable there-
after. A BTC, owned by a
wide cross-section of the
Bahamian community,
could purchase the best
management expertise and
technology to provide the
Bahamian and foreign busi-

ness community a competi-
tive world class and afford-
able service like the Bank
of The Bahamas,” Mr
Christie said.

If Mr Christie wins the
election and proceeds with
this course of action, it
would not be the first time
the PLP renegotiated a con-
tract between the Govern-
ment of the Bahamas and
a private investor.

The PLP found the terms
of the Hawksbill Creek
agreement, which delegated
the powers of immigration
control to a private compa-
ny, to be repugnant to the
national interest and nego-
tiated that change which
came into effect in 1969.

The result was that the
Grand Bahama Port
Authority returned immi-

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gration control to the
Bahamian people.

“We made the same prin-
cipled point to the develop-
ers of the then proposed
Clifton Cay, and when we
came to office we changed
the deal in the national
interest. We are doing the
same now with Cable and
Wireless,” Mr Christie said.

He said the PLP does not
agree with, and will not sup-
port in the House of
Assembly and the Senate,

the sale of any of the shares
in BTC to Cable and Wire-
less.

“We do not believe that it
(Cable and Wireless) is a
trustworthy, reliable and
capable strategic partner for
the Bahamas and BTC. We
call on the government to
cease and desist in pursu-
ing the sale as they have
announced it,” Mr Christie
said.

Among the items that the
party now finds repugnant

is the notion that the FNM
administration has agreed
that the Government of
The Bahamas is to become
a minority shareholder in
BTC but will still have to
fund part of the pension lia-
bilities of the company in
the first instance by advanc-
ing $39 million from the
treasury, with a continuing
obligation to fund future
losses.

¢ SEE PAGE TWO

Christie: government
must be careful
about changing GB
economic structure

FROM page one

announced the opposition
will be organising a group
at Parliamentary level to
begin informal discussions
with interested parties in
Grand Bahama about the
tax exemptions that will
expire under the provisions
of the Hawksbill Creek
Agreement.

The agreement was
signed in 1955 between the
government and Freeport
developer, the late Wallace
Groves, to establish a city
and free trade zone on
Grand Bahama Island.

Some of the provisions of
the agreement, most notably
the real property tax exemp-
tion, expire in 2015.

“Our committee ought to
speak with the Grand
Bahama Port Authority and
also the Grand Bahama
Chamber of Commerce and
other groups, including
church leaders and civic
organisations. We need to
hear your views. When we
come to government, I
intend to hit the ground run-
ning,” Mr Christie said.

Prime Minister Hubert
Ingraham was in Grand
Bahama on December 18
when he spoke about the

fact that certain tax exemp-
tions will expire under the
provisions of the agreement.

He said the Grand
Bahama Port Authority has
asked his government to
begin discussions on the
question of what the posi-
tion of the government will
be on those exemptions and
whether they should be
renewed.

Mr Ingraham said he did
not want to speak to the
organisation about the mat-
ter until the authority got
“ts house in order.”

However, Mr Christie
said the PLP holds a differ-
ent view and a different
approach in this matter.

“The thing is, it is simply
bad manners not to talk to
someone who is a major
investor in your country. But
I am sure that you are not
surprised at that. That is the
FNM’s way, talk to people
any kind of way and any
kind of how.

“The PLP would, if it
were the government, at the
very least begin discussions
with the Grand Bahama
Port Authority at least at the
technical level so that we
can understand the issues,
the revenue implications and
the implications to the
future for investment in



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Grand Bahama,” the oppo-
sition leader said.

Mr Christie said his initial
thought is that the potential
real property tax revenue
that would come from the
expiry of the exemptions
would be a great benefit to
the treasury and to the peo-

le.

“These therefore have to
be studied carefully. But the
economic structure and sys-
tem in Freeport have bene-
fitted our country greatly
and we must be careful not
to kill the goose that laid the
golden egg,” he said.

CYCLIST
MOWED
DOWN AND
KILLED

FROM page one

arm. The victim was taken to
the local clinic for treatment,"
said Sgt Skippings.

The other shooting hap-
pened around 2.30am yes-
terday in Nassau in the area
of East and Lewis Streets.

Police were told that a
man, wearing a yellow shirt
and blue jeans, had fired
the shots and was seen run-
ning from the area with a
handgun.

Officers of the Tourism
Police Unit responded and
saw aman fitting the
description running
through McCullough Cor-
ner. The officers gave
chase, but the culprit
escaped them.

While at McCullough
Corner, police spoke with a
27-year-old man of Fourth
Terrace, in Centreville,
who said that while walking
on McCullough Corner he
heard gunshots and realised
that he had been shot in
one of his wrists and shoul-
der.

The victim was taken to
hospital by EMS where he
was last reported to be in
stable condition.

A short while later police
received information that
the culprit was seen leaving
the area in a Honda car.
Officers of Rapid Strike,
patrolling Taylor Street,
spotted the vehicle and
stopped the car. A 33-year-
old man of Foxdale was
taken into custody.

Police investigations con-
tinue.



THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 11





Lessons from Malaysia
insight

WORLD VIEW

By SIR RONALD
SANDERS

(The writer is a Consul-
tant and former
Caribbean diplomat)

I am writing this com-
mentary in the airport in
Kuala Lumpur, the capital
of Malaysia. To describe
Malaysia as a vibrant, ener-
getic country would be an
understatement.

It is fast becoming yet
another Asian Tiger join-
ing the economies of Sin-
gapore, South Korea and
Thailand.

Yet, it wasn’t so long
ago that Malaysia was
regarded as a poor second
cousin to other Asian
states behind which it
lagged economically.

The country has oil. But
that natural resource —-
important though it is — is
not the main reason for
this country’s transforma-
tion in the last 40 years into
a middle-income country
with a multi-sector econo-
my.

Prime Minister Najib
Tun Razak credits the
country’s transformation to
the investment of its rev-
enues from oil and gas in
two areas — education and
infrastructural develop-
ment

Malaysia now has a
highly competent, skilled
work force and significant
physical infrastructure
including highways along
which its production is
moved to its port and air-
port, and its people easily
transported for work and
leisure.

Apart from oil and gas,
electronics is its biggest
export and employer of
both its skilled and semi-
skilled population.

The Prime Minister is
aiming to make Malaysia a
high-income country by
2020, and it looks set to
achieve it.

The government and the
private sector have joined
in an investment pro-
gramme designed to pro-
duce millions of new jobs
and to upgrade the skills
of the existing work force.

While the government is
the facilitator of the pro-
gramme, the bulk of the
investment is coming from
the private sector, mostly
local businessmen.

They have set themselves
on a course to establish
high technology industries,
medical technology and
pharmaceuticals.

Malaysia has recovered
well from the global finan-
cial crisis which started in
late 2008.

While in 2009 decreasing
demand for consumer
goods slowed economic
growth, the economy has
bounced back in 2010 and
the foreign reserves of the
Central Bank are healthy.

Kuala Lumpur is a hive
of economic activity. Its
roads are clogged with traf-
fic, mostly one person toa
car — an indication of years
of state-subsidised gaso-
line, investment in roads
and good salary levels.

The skyline is dominat-
ed by structures immedi-
ately reminiscent of New
York and Toronto — twin
towers, not unlike the tar-
gets of 9/11 and a tower
that resembles the CN
Tower in Toronto almost
exactly.

The shops range from up
market designer names —
almost all of them, Gucci,
Louis Vitton, name it and
it is there — to market malls
which also have designer
name brands for items
from handbags to clothing,
except these are fakes
made mostly in Korea, but
enjoying a brisk trade

among Malaysian locals
and foreigners alike.

English is the common
language of the ethnic
Malays and the Chinese
community that have lived
in Malaysia for decades.

It helps greatly in doing
business.

And, while it might have
been expected that China
would be the dominant
investor country, it is still
the United States that is
the source of the largest
cumulative investment, fol-
lowed by Germany and the
United Kingdom.

The Prime Minister
sports a large emblem of
the number 1 on his lapel.
So do most of the minis-
ters and government
employees.

“One” signifies “One-
Malaysia”, an attempt by
the present government to
make long-term residents
of Malaysia, particularly
the Chinese, feel that while
they may not be Malay,
they are Malaysian in a
country whose society is
one.

There is good reason for
this. The Chinese are
industrious in addition to
being well educated and
well trained.

They have made a signif-
icant contribution to
Malaysia’s development
and the present govern-
ment is trying to stem a
tide of Chinese emigration
which deprives the country
of business talent and cap-
ital.

Years of preferences to
the Malay population dis-
advantaged the Chinese
who had to perform better
to maintain their place in
the society.

Now the effort is build a
“One-Malaysia” society
that is inclusive, keeps tal-
ent at home, and is focused
on a strong economy.

Malaysia’s population is
also over 60 per cent Mus-
lim, but that does not stop
it from being open to busi-

ANNOUNCEMENT



SIR RONALD SANDERS

ness from Europe and
North America. As the
Chairman of a large con-
glomerate put it, “Muslims
yes, Money makers too.”

The country’s member-
ship of the Commonwealth
is part of a valuable her-
itage.

English Common law
and a parliamentary system
similar to the countries of
the Commonwealth
Caribbean and Britain
make it easy for investors
from the US and the UK
to do business in the coun-
try.

And, if the high occu-
pancy levels in the many
top class hotels in the cen-
tre of City are anything to
judge by, both investors
and foreign contractors are
taking a keen interest in
Malaysia.

Sixty per cent of Malaysi-
a’s 27 million people are
connected to the Internet,
and Google Inc, the owner
of the world’s most popular
search engine on the Inter-
net, has just announced an
investment of millions of
dollars as part of its focus
on south-east Asia.

While foreign invest-
ment is welcome, and sev-
eral foreign companies are
being awarded large infra-
structural projects, the gov-
ernment is keen to pro-
mote local direct invest-
ment. It has announced
plans to boost local direct
investment through busi-
ness linkages and domes-
tic outsourcing.

There is little doubt that
Malaysia will achieve its

SPECIALTY CLINIC AT
DOCTORS HOSPITAL

As we continue to grieve the sudden death of
our colleaque, friend and physician, we wish to
thank you all for your cards, telephone calls
and sympathy. We appreciate your kindness
and wish you all God's richest blessings. Thank

you.

This is to advise all patients of Dr. Willard
JJ. Thompson who consulted with him at
the Specialty Clinic at Doctors Hospital;
that alternate specialist Orthopaedic care is
now available at the clinic.

Please contact the Sessional Clinic at

302-4684 for further

information or

email: infom@doctorshosp.com

DOCTORS HOSPITAL

Hilts For 109

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MALAYSIA: Kuala Lumpur is a hive of economic activity.

ambition of making its peo-
ple high-income earners.

Even if there is slippage
from the projected date of
2020, it will be pretty close
to it.

The secret of its success
has been the effort by suc-
cessive governments to use
revenues for huge invest-
ments in education and the
upgrading of skills so as to
take advantage of internet
broadband technology for
the services sector and
manufacturing industries.

Malaysia and its neigh-
bour Singapore are Com-
monwealth countries that
are doing very well in glob-
al economic terms which
shows that developing
Commonwealth countries
can learn from each oth-



“Razak credits the country’s
transformation to the invest-
ment of its revenues from oil
and gas in two areas — educa-
tion and infrastructural

development.”



er’s experiences in the
development models they
adopt.

Caribbean and Pacific
Commonwealth countries
should invite a combina-
tion of government and
business people from
Malaysia and Singapore to
share the lessons they’ve

learned and the skills
they’ve developed. Com-
monwealth countries of the
South have shown they can
be as successful as the rich
countries of the North.

Responses and previous
commentaries at:
www.sirronaldsanders.com

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PAGE 14, MONDAY, JANUARY 31, 2011 THE TRIBUNE



INTERNATIONAL NEWS

Fire, explosions



SMOKE BILLOWS from a military

arms depot after a fire in Maracay,
Venezuela, Sunday, Jan. 30, 2011. A fire
set off a series of explosions at a military
arms depot, killing at least one person
and leading authorities to evacuate about

at Venezuela arms
depot; one killed



A SOLDIER stands guard outside a military arms depot after a fire in
Maracay, Venezuela, Sunday, Jan. 30, 2011. A fire set off a series of
explosions at a military arms depot, killing at least one person and lead-
ing authorities to evacuate about 10,000 people from the area. (AP)

Over 99 per cent
in Southern Sudan

JUBA, Sudan

SOUTHERN Sudan's referen-
dum commission said Sunday that
more than 99 percent of voters in
the south opted to secede from the
country's north in a vote held ear-
lier this month, according to Asso-
ciated Press.

The announcement drew cheers
from a crowd of thousands that
gathered in Juba, the dusty capital
of what may become the world's
newest country.

The weeklong vote, held in ear-
ly January and widely praised for
being peaceful and for meeting
international standards, was a con-
dition of a 2005 peace agreement
that ended a north-south civil war
that lasted two decades and killed
2 million people.

The head of the commission's
southern bureau, Justice Chan
Reec Madut, said Sunday that vot-
er turnout in the 10 states in the
south was also 99 percent. He said
only some 16,000 voters in the
south chose to remain united with
northern Sudan, while 3.7 million
chose to separate.

In northern Sudan, 58 percent
of voters chose secession, said
Mohamed Ibrahim Khalil, chair-
man of the referendum commis-
sion. He said some 60 percent of
eligible voters participated.

Southern Sudanese voters in
eight foreign countries over-
whelmingly supported secession,
he said, with 99 percent support
for secession among the 97 per-
cent of voters who participated.

In the United States, he said,
more than 99 percent of the 8,500
southerners who cast votes chose
secession.



MARACAY, Venezuela

A FIRE and a series of
explosions tore through a
military arms depot Sun-
day, killing one person and
leading authorities to evac-
uate thousands of people,
according to Associated
Press.

About 10,000 residents
fled their homes in areas
up to several miles (kilo-
meters) from the site as the
burning ammunition pro-
duced powerful blasts, offi-
cials said.

The cause of the pre-
dawn fire was unclear.
Hours after the initial
explosions, faint booms
could still be heard in the
distance as clouds of white
smoke rose from the area
alongside hills in Maracay,
60 miles (100 kilometers)
west of Caracas.

"It's under control but
there is still risk," Presi-
dent Hugo Chavez said as
he visited firefighters and
other officials in Maracay.
He noted that the blasts
hurled some explosives
such as grenades long dis-
tances into surrounding
communities, and urged
caution.

Officials were searching
nearby neighborhoods for
any stray explosives,
Aragua state Gov. Rafael
Isea told the state-run
Venezuelan News Agency.

Chavez praised officials
for a swift response. "An
event like this could have
produced ... a much bigger
tragedy,” he said.

Chavez wondered aloud



what might have caused it,
saying: "A fire there is odd,
and at that hour."

Vice President Elias Jaua
said earlier on state televi-
sion that authorities were
investigating — and sug-
gested they weren't ruling
out sabotage.

"We can't rule out any
hypothesis since Venezuela
is a country threatened by
strong international pow-
ers," Jaua said. "We know
of groups that act in a crazy
manner within our territo-
ry, but it can't be deter-
mined yet if it was pro-
voked or if it was an acci-
dent.” He did not elabo-
rate.

One woman in a house
was killed by a piece of
shrapnel that wounded her
in the abdomen, the Attor-
ney General's Office said
in a statement.

Three people were
injured in traffic accidents
amid the chaos as people
fled, Isea said.

"It seemed like they
were bombing us," said
Yandry Rey, 30, who lives
with her husband, a mili-
tary officer, and two chil-

Abyei,” he said while addressing
African leaders at an African

10,000 people from the area. (AP)



the munitions storage area.

She said the explosions
shook her house and woke
her up, and that they fled
with their children. Rey
said she saw a “ball of fire"
when she opened the door.

Hours later, she and sev-
eral other people who fled
the military housing com-
plex were resting on the
edge of a ditch in the
shade. Rey's daughter still
wore her nightshirt.

Another woman, 27-
year-old Genesis Baricot,
said her husband returned
to their house and saw that
the blasts had blown off
their front door and caused
part of the roof in the
kitchen to collapse.

She said she didn't yet
know where the family
would go.

"What are they going to
do with us?" she asked.

Soldiers and police
blocked exits on a major
highway that runs nearby.

Thousands of evacuees
were taken to a sports sta-
dium, a military barracks
and a park, emergency
management director Luis

dren in housing adjacent to

Aa “i
Diaz told state television.
Chavez said the evacuees
included Chinese and Rus-
sians who were working on
projects in the area.

He said the Russians
were building a rifle facto-
ry.
He did not elaborate on
what the Chinese were
involved in.

National Guard Maj.
Gen. Luis Motta
Dominguez said in remarks
broadcast by Union Radio
that authorities were wait-
ing for the smaller blasts
to die down and that what
was left was “a lot of
smoke."

State TV showed fire-
fighters working to extin-
guish what remained of the
fire.

Cavim, Venezuela's mil-
itary arms manufacturer,
said in a statement that the
explosions began at 4:45
a.m. local time (4:15 a.m.
EST; 0915 GMT).

The fire burned four
artillery-munitions storage
sites out of 20 that Cavim
maintains in Maracay, Gen.
Cliver Alcala Cordones
told the state news agency.



SOUTHERN SUDANESE men line up to casts their votes at a polling center in Juba,
Southern Sudan, in this Jan. 10, 2011 file photo. The Southern Sudan Referendum
Commission said Sunday over 99 percent of the people in the south voted for seces-
sion in its first official primary results since the vote was held earlier this month. (AP)

the spontaneous dancing that fol-



isd

A SOUTHERN SUDANESE woman stands in a crowd during the announce-
ment of preliminary referendum results in Juba, southern Sudan on Sunday,
Jan. 30, 2011. Referendum officials indicated that nearly 99 per cent of all
voters cast ballots in favor of southern independence. Southern Sudan will
remained united with the north until the expiration of Comprehensive Peace

Agreement in July 2011. (AP)

"These results lead to a change
of situation," said Khalil after he
read the results. "That change
relates only to the constitutional
form of relationship between north
and south. North and south are
drawn together in indissoluble geo-
graphic and historic bonds."

Referendum commission offi-
cials did not announce an overall
percentage total for all votes cast.
The commission's website said
Sunday that 98.8 percent of vot-
ers chose secession, but noted that
the figure may change.

If the process stays on track,

Southern Sudan will become the
world's newest country in July.
Border demarcation, oil rights and
the status of the contested region
of Abyei still have to be negotiat-
ed.

U.N. chief Ban Ki-moon praised
the conduct of the election, but
said much still needed to be done.

"We are still very much con-
cerned about post-referendum
issues — border security, citizen-
ship, wealth sharing, demarcation,
popular consultations in South
Kordofan and Blue Nile States,
and most importantly the status of

Union summit in Addis Ababa,
Ethiopia. "Consolidating the peace
in North and South Sudan will
require statesmanship, wisdom,
patience and the consistent
engagement and support of the
international community."

Southern Sudanese president
Salva Kir also gave remarks at the
results ceremony, speaking mostly
in Arabic.

"We are still moving forward,"
Kiir said in English. "The struggle
continues."

Kur thanked Sudanese President
Omar al-Bashir for his leadership
and for "making peace possible."

Kiir said the south will declare
independence on July 9, but not
before.

"We are not going to put down
the flag of Sudan until July 9," he
said.

The event marked the release
of the first official primary results
from the self-determination vote.
The results will not be finalized
until February.

But Sunday's announcement did
not stop people from celebrating.

"I'm very happy because today
we have determined our destiny,"
said Anna Kaku, 42, who dressed
up for the ceremony and joined



lowed Kiir's address. "We fought
for so many years, and now we
have done this peacefully."

your

news

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds fora
good cause, campaigning
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.

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



THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 15



LOCAL NEWS



+o

KIEV TY OVE EYEE NVR



THE TEAM: The Executive, Management and Leadership Team of
the Force pose for a photo at the end of their Annual Planning Cer-

emony.

Defence Force
jets planning
for modern era

Three-day seminar at
Coral Harbour Base

MEMBERS of the Royal
Bahamas Defence Force’s
executive, management
and leadership team kicked
off the year with a three-
day planning seminar at
the Coral Harbour Base.

On the heels of Com-
modore Roderick Bowe’s
first year anniversary at the
helm, the team converged
to execute the first phase
of planning aimed at mov-
ing the 30-year-old force
into a modern era.

The Seminar took a look
at the RBDF’s overall mis-
sions, vision and objectives,
which have been in exis-
tence since its inception,
determining their relevance
to today’s tasking and chal-
lenges.

Specific departments also
presented their individual
plans for the future based
on their leader’s overall
strategic intent and also
were empowered to field
additional recommenda-
tions from the participants.

Last year, the adminis-
tration of the force con-
centrated on the morale
and welfare of its men and
women. The focus for 2011
will now shift to encompass
training and re-education.
With 32 persons presently
on study leave, training in
arenas as piloting, culinary



arts, construction, plump-
ing and electrical engi-
neering technology to psy-
chology and computer sci-
ence, the force says it is
well on the way to realising
a more skilled organisa-
tion,

There are also six offi-
cers away at the United
States Coast Guard officer
candidate school and the
Britannia Royal Naval Col-
lege for training, and a
number of others benefit-
ting from a range of IMET
(International Military
Education and Training)
and other overseas Courses
around the world.

Representatives from
partner agencies like the
Police, Immigration, Cus-
toms, Fisheries, BASRA,
and the United States
Coast Guard were also
invited to discuss their
roles and methods of
improved connectivity for
2011. Media training, divi-
sional system review, inspi-
rational speakers and spir-
itual charges were also
incorporated.

The planning concluded
with a breakfast with Prime
Minister Hubert Ingraham,
Minister of National Secu-
rity Tommy O A Turn-
quest and the Secretary to
the Cabinet Anita Bernard.

PRIME MINISTER Hubert Ingraham, Minister of National Security
Tommy Turnquest and Secretary to the Cabinet Anita Bernard on a
short tour of the RBDF base.



SENIOR OFFICERS listen to presentations during the seminar.

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$12m ‘hostile PGR renee

THE TRIBUNE

—



MONDAY,

* BISX-listed food retail group’s chair says largest share-
holders ‘definitively rejected’ Finlayson offer, as would leave
minority ‘at mercy of unproven management’

* Proposed $1.50 a share tender a 47%, or $4m, premium

to Friday close

* Potential purchaser believes ‘prospects are pretty high’

By NEIL HARTNELL
Tribune Business Editor

AML Foods’ chairman last
night branded the $12 mil-
lion offer by City Markets
principal, Mark Finlayson, to
acquire 51 per cent majority
control of the BISX-listed
food retail group as “not in
the best interests of all share-
holders”, telling Tribune
Business it would leave them
“at the mercy of an untried
and unproven” management
team.

CITY MARKETS
TARGETS
$10-S12M

FOR STORES

* $6m already raised for JFK
Drive location

* Freeport ‘key’ to return to
profit, with firm still on
track for $120m sales

By NEIL HARTNELL
Tribune Business
Editor

CITY MARKETS will
need to invest between $10-
$12 million to get two new
stores, on JFK Drive in Nas-
sau and the Queen’s High-
way in Freeport, opera-
tional, Tribune Business was

SEE page 3B
























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

Describing the announce-
ment by Mr Finlayson and
his Trans-Island Traders
vehicle, which last Novem-
ber acquired the 78 per cent
majority stake in City Mar-
kets’ Bahamas Supermarkets
parent for just $1, as effec-
tively the first “hostile
takeover bid” seen in the
Bahamian capital markets,
Dionisio D’Aguilar said he
was “amazed” that no formal
approach had been made to
AML Foods’ Board.

Trans-Island Traders is

ne

TANUARY 31,



“AML FOODS’ CHAIRMAN
Dionisio D’Aguilar

offering what it describes as a

50 per cent premium to AML

Foods’ existing share price,
although the $1.02 close on

SEE page 4B

WORKER TRAINING: CHAMBER
"KICKS BACK INTO GEAR’

By NEIL HARTNELL
Tribune Business Editor

THE Bahamas Chamber of
Commerce and Employers
Confederation (BCCEC) is
aiming to “kick back into gear”
on its workforce initiatives
through the imminent hiring of
an education and training man-
ager, a senior official describing
the shortage of trained Bahami-
an workers as “the single
biggest limiting factor in our
growth across the board”.

Robert Myers, chair of the
BCCEC’s training and educa-
tion division, said that while the
restructuring caused by the
Chamber/Employers Confed-
eration merger had “set us back
five to six months”, the
prospective education and
training manager had been
identified, and talks over terms
and salary were now being
finalised.

“With that, we should see the
initiative kick back into gear,”
Mr Myers told Tribune Busi-
ness. “We’ve done well, but did
have some delay because of the
shift to the BCCEC. That took
a bit of time in that we had
some changes with regard to
the structure.

“There’s a lot happening, and
it will pick up momentum
towards the end of the first and
quarter and the second quar-
ter.”

Praising the ongoing Cham-
ber Institute seminar series as
“one of the most powerful ini-
tiatives” undertaken by the
BCCEC, providing for career,
business and vocational devel-
opment, Mr Myers said a sur-
vey would soon be launched to

assess where companies saw
labour force “deficiencies’, and
where they needed help in edu-
cating and training workers.
He added that April 6 had
been “tentatively” pencilled in
as the date when the Chamber
would stage a Business Educa-
tion Seminar in conjunction
with the US Embassy, while
further initiatives in alliance
with the Association of Char-
tered Certified Accountants
(ACCA) were also planned.
Describing workforce edu-
cation and training, and result-
ing labour productivity, as
“hugely important”, Mr Myers
told Tribune Business: “It’s the
single largest limiting factor in
our growth. We just have huge
problems trying to get trained,
efficient, consistent employees.
“It’s a big, big problem. It’s
limiting growth all over the

SEE page 3B



2011

* Finlayson says combined entity to gross $150m in

food sales per annum alone
* Says ‘definitely not hostile’

* Hoping for Commission approval in seven-10 days
* But analyst sceptical, saying at least $4 per share

needed

By NEIL HARTNELL
Tribune Business Editor

A COMBINED City Mar-
kets-AML Foods would have
just a 25 per cent market
share of the Bahamian food
retail market, Mark Finlayson

AUTO SECTOR
FEARS RISE
OVER FALSE
INVOICING

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

CONCERNS are grow-
ing in the Bahamian auto-
motive industry about some
car dealers who are alleged-
ly offering imported vehi-
cles at what are considered
by many to be impossibly
reduced prices.

Ben Albury of Bahamas
Bus and Truck, and Fred
Albury of Executive
Motors, both told Tribune
Business they believe some
car dealers may be submit-
ting false invoices to the
Customs Department and
clearing their vehicles with-
out paying the proper duty.

This then enables the
salesmen to attract cus-
tomers by offering substan-

SEE page 5B

a .
"he, i i.
® Pe

ins
“ra

Mate Le) ey ige ets 0a meta eiesT

BREITLING BOUTIQUE

ee 2 ee



told Tribune Business last
night, adding that together the
two companies would gener-
ate an annual $150 million in
food sales alone.

Speaking to Tribune Busi-

SEE page 5B

Charles drive.

A SHOPPER looks at what’s on offer inside Robin Hood on Prince

=ager

BREITLING








Felipé Major/Tribune staff

Robin Hood targets
30k vistors for Jan

Set to ‘top out’ in 50,000-60,000 range
on monthly customer count

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

ROBIN HOOD’S new
Prince Charles Drive store is
on target to attract 30,000 cus-
tomers this month, and is set
to “top out somewhere in the
50,000 to 60,000” range, with
the groundbreaking for an

associated 44,000 square foot
retail plaza on the same site
set for March.

Sandy Schaefer, Robin
Hood’s president and co-own-
er, and developer of the plaza,
said it was scheduled to be
constructed before year-end.
It is expected to contain a

SEE page 6B

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PAGE 2B, MONDAY, JANUARY 31, 2011 THE TRIBUNE



COMPANY NEWS
Earnings Releases:

Focol Holdings (FCL) released its unaudited
financial results for the quarter ended October
31, 2010.

FCL reported net income of $4.8 million, an
increase of $261,000 or 5.7 per cent compared
to $4.6 million in the same period the previous
year.

Revenues of $68.5 million were up by $8.9
million or 15 per cent in comparison to the
prior period.

The cost of sales also increased by $8.6 mil-
lion or 18 per cent to $56.3 million, resulting in
gross profits of $12.2 million that increased by
$320,000 quarter-over-quarter.

Earnings per share for the quarter were
$0.13, compared to $0.12 in the comparative
period.

Total assets and liabilities at October 31,
2010, stood at $140.5 million and $25.4 million
respectively, compared to $136.8 million and
$23.7 million at July 31, 2010.

IT WAS another slow week of trading in the
Bahamian stock market. Investors traded in three
out of the 24 listed securities, with no advancers
and two decliners.

EQUITY MARKET

A total of 10,023 shares changed hands, rep-
resenting a slight increase of 3,745 shares com-
pared to the previous week's trading volume of
6,278 shares.

Finance Corporation of the Bahamas (FIN)
was the volume leader, trading a volume of 6,000
shares to close unchanged at $6.51.

FamGuard Corporation (FAM) was the big
decliner in the week, trading a volume of 1,000
shares and falling $0.60 to see its stock close at
$5.47, a new 5-week low.

Commonwealth Bank (CBL) traded a volume
of 2,223 shares to see its stock price decrease by
$0.04, closing at $6.81.

BOND MARKET
No notes traded during the week.

EQUITY MARKET - TRADING STATISTICS

Week ending 28.01.11

BISX SYMBOL CLOSING PRICE WKLY PRICE CHANGE VOLUME YTD PRICE CHANGE
AML $1.04 $- 0 7.22%

BBL $0.18 $- 0 0.00%

BOB $4.90 $- 0 0.00%

BPF $10.63 $- 0 0.00%

BSL $5.01 $- 0 0.00%

BWL $2.70 $- 0 0.00%

CAB $10.21 $- 0 -2.39%

CBL $6.81 $-0.04 2,223 2.71%

CHL $2.40 $- 0 0.00%

CIB $9.39 $- 0 0.00%
CWCB $2.18 $0.11 0 19.13%

DHS $1.60 $- 0 0.00%

FAM $5.47 $-0.60 1,000 -9.88%

FBB $2.17 $- 0 0.00%

FOL $5.48 $- 800 0.37%

FCLB $1.00 $- 0 0.00%

FIN $6.51 $- 6,000 -9.96%

ICD $7.40 $- 0) 0.00%

JSJ $9.82 $- 0) 0.00%

PRE $10.00 $- 0 0.00%
INTERNATIONAL MARKETS

FOREX Rates COMMODITIES

Currency Weekly % Change Commodity Weekly % Change
CAD 0.9998 -0.73 Crude Oil 99.31 1.79
GBP 1.5781 -1.42 Gold 1,319.00 -1.82
EUR 1.3617 -0.05

LennoxPaton

LEGAL SOLUTIONS. OFFSHORE FOCUS,

ANNOUNCEMENT

We are delighted to announce our continued growth and expansion
by the opening of our new office at Lyford Cay, New Providence, The
Bahamas, to serve our clients,

CONTACT DETAILS

Brian C. Simms QC, Senior Partner
Arthur Seligman, Partner

Lyford Cay Manor
Lyford Cay, West Bay Street
P.O. Box N-4875
Nassau, The Bahamas

Tel: +1 (242) 362-4783
Fax: +1 (242) 362-4190

Website: www.lennoxpaton.com
Email: info@lennoxpaton.com

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THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 3B



‘No answer’ for BEC’s woe over transmission

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

THE Minister of the Environ-
ment “does not have an answer”
as to why initial steps on
installing a transmission line
capable of carrying the required
amount of energy from Abaco’s
new power plant to residents and
businesses are being taken now,
with the plant itself is in the final
testing phase.

Earl Deveaux confirmed in a
meeting with the Abaco business
community and residents in
Marsh Harbour on Friday that
BEC’s Board has “authorised a
tender for the completion of an
upgraded 60 MW transmission
line from Wilson City to Marsh
Harbour”, with expectations that
the power line could be com-
pleted by May 15 this year.

This comes over six months
after the Wilson City power plant

FROM page one

place. We’ve got Baha Mar coming on line; God
knows where they’re going to get the people.
Kerzner is challenged by the same problem.”
Worker productivity, and the Bahamas’ inabil-
ity to produce a labour force where all partici-
pants are attuned to the demands of the modern
workplace, have been highlighted repeatedly in
the studies conducted by Bahamian-based econo-
mist Ralph Massey. The issue becomes more
urgent every year when 5,000 Bahamian students
leave high school, some 3,000-4,000 of them going

directly into the workforce.

Analysing the 2006 BGCSE maths and English
grades among New Providence public school stu-
dents, Mr Massey found that In English, 44 per cent
of New Providence public high school students
passed, with 56 per cent failing. A total of 17 per
cent "both failed and were functionally illiterate",
meaning they could not read or hear, then com-

municate thoughts coherently.

And it was worse for maths, where some 46 per
cent - almost half of all New Providence public
high school students who sat the 2006 BGCSE
exam - were found to be "functionally illiterate",
meaning they did not know the difference between

addition and multiplication.

Mr Myers, who is president of Caribbean Land-
scape and also co-chair of the Bahamas Landscape

FROM page one

told last night, with the company
poised to return to profitability
once it “fixes” its three Freeport
stores.

Mark Finlayson, City Mar-
kets principal, told this newspa-
per that $6 million had already
been raised to convert the for-
mer Burns House property on
the corner of JFK Drive and
Bethel Avenue, next to Royal
Bank of Canada, into a replace-
ment store for the former Oakes
Field location.

“Right now, we have two of
them finalised,” Mr Finlayson
said of new City Markets loca-
tions. “That was the difficult part
of it. We did not want to do it all
out of our own pocket, and Col-
ina put a group together to get
this financed.

“We already have $6 million
on the JFK property. Part of
that’s our money and part of that
Colina raised for us. With a
group like Colina, it’s not diffi-
cult.”

Mr Finlayson said Superval-
ue from the US would be assist-
ing with the layout and design
of the JFK Drive store, adding
that a concrete shell needed to
be put in, along with the correct
fixtures and outfitting.

He added that the supermar-
ket chain had been planning to
construct two City Market Super
Centres, one on the East-West

had initially been scheduled for
completion, as it now enters a
final “reliability testing” phase
before it comes on stream to pro-
vide the envisaged enhanced
power supply.

The plant’s four 12 megawatt-
generating units will ultimately
be capable of producing 48
megawatts of power. Current
transmission lines are capable of
carrying 14 to 16 megawatts of
power, and Abaco’s present
power demands are around 11
megawatts at daily peak, said Mr
Deveaux. In the summer, peak
demand can reach closer to 25
mega watts.

Abaco residents yesterday
questioned why BEC is only
moving ahead with the tendering
process for the transmission line
at this late stage, and expressed
fear that the tourism-dependent
island will again suffer from the
disastrous load shedding and
power blackouts that saw resi-

dents and visitors faced with hav-
ing to go without power on a dai-
ly basis for several days over
summer 2010.

One resident, who declined to
be named, said: “BEC is com-
pletely and utterly incompetent.
Before they even broke ground
in Wilson City they had the facts.
They knew the new plant would
generate up to 48MW. They
knew the old power lines would
not be able to handle much more
than 12MW. Also, they said
when they began the power plant
it would be ready before sum-
mer last year. Here we are now
looking at it maybe nearing com-
pletion when this summer starts.
And that is just maybe!”

Initial pronouncements by
BEC were that the Wilson City
plant would be fully operational
by summer 2010. The Govern-
ment has pointed to the Judicial
Review of the decision to go
ahead with the plant as a signifi-

WORKER TRAINING

Association (BLA), told Tribune Business that
the certification programmes the latter had estab-
lished, where Bahamians in the sector were encour-
aged to obtain certification in posts such as horti-
cultural and landscape maintenance technicians,
were acting as a testing ground for wider initiatives.

“Tt’s not such a problem in industries like bank-
ing, where you have got college graduates and
people with degrees,” Mr Myers said of the need
for a trained workforce. “What we’re finding in the

service sector is, because there are very few if any

programmes, nothing is coming out. In the horti-
cultural sector, before we started the BLA, where
were people going to get the training to be horti-
culturists? You couldn’t.”

Mr Myers said both the BLA and BCCEC focus
was to “empower the people to empower the com-
panies. That’s the Key; to let them earn certification,

become knowledgeable employees, and let them

empower business”.

The absence of available, trained Bahamian
workers linked directly to Immigration and the
level of demand by companies for work permits. If
Bahamian workers were not trained and unavail-

able, Mr Myers said, the likely consequence was an

CITY MARKETS

Highway in Nassau, the other
on the Queen’s Highway in
Freeport, but if his plans to
acquire a 51 per cent majority
stake in AML Foods came to
fruition, the former would not
be needed due to its proximity to
the latter’s Solomon’s Super-
Centre format in the Town Cen-
tre Mall.

Acknowledging that the East-
West Highway plan had been
“put on the shelf” for the time
being, Mr Finlayson said City
Markets was still pursuing plans
to turn the old Butler & Sands
building on Freeport’s Queen’s
Highway into a Super Centre.

Analysing the investment
required for that and the JFK
Drive location, Mr Finlayson

increase in the unemployment rate, which in turn
was tied to the crime rate.

told Tribune Business: “I think if
you're talking about the one in
Nassau and the one in Freeport,
yow’re talking in the range of
$10-$12 million, minimum.
We’re trying to raise $6 million
for both locations.”

Mr Finlayson said the super-
market chain was still on track to
do $120 million in sales during its
first year under new ownership,
with its three Freeport stores the
key to profitability.

“We've got to get Freeport
fixed. As soon as we get
Freeport back, we’ll be back in
the black. Freeport is key,” he
said. “We've done a pretty good
job so far, and are ahead of
where we thought we were going
to be. Just based on City Mar-
kets, I think we’re going to hit
around $120 million in sales for
the first 12 months.”

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Jewels by the Sea, a chain of Fine Jewelry stores in the Cable Beach
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SALES ASSOCIATES

This is a SALARIED position, not a commission based structure.
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Key Functions

e Building Relationships with Customers
e Matching Customer Needs with Goods & Services Available
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e Maintaining an Organized, Well Arranged & Customer Friendly

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Qualifications & Experience
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e Previous experience in some Customer Service Field
e High School Diploma or equivalent required

e Basic Computing skills

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Qualified applicants should email

resume & cover letters to:
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Only applicants who are short-listed will be contacted.

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

NOTICE

cant cause of delay in the pro-
ject.

In his statement in Marsh Har-
bour, Mr Deveaux said he had
travelled to Abaco to provide an
update to residents on the sta-
tus of generation at the Wilson
City plant, and “the plans going
forward to address the peak
demand period for the summer”.

He apologised to residents for
“the nightmarish experiences suf-
fered in the past, including the
recent nuisances over the past
few weeks” as it relates to power
supply.

“Like you, we are disappoint-
ed in the performance of BEC
and its reliability,” he said.

According to Mr Deveaux,
recent power outages in Abaco
were attributable to “attempts
to service Marsh Harbour from
Wilson City and the old power
plant interchangeably, and when
switching between generators at
Wilson City”.

Position Available

Pursuant to the provisions of Section 137 (4) (a), (b)
and (c) of the International Business Companies Act,
2000, notice is hereby given that: -

(a) EGBAS INC. is in dissolution;

(b) The date of commencement of the dissolution
is the 19th day of January, A.D., 2011 and

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C.B. Strategy Ltd.
LIQUIDATOR

























































New office of international company seeks a Chief Executive Officer. The
position requires direct reporting to the Board of Directors, entails
responsibility for local operations and finance and requires a great
degree of integrity, while maintaining utmost confidentiality.

The position pays a very competitive salary. The successful applicant
Must:

-Be extremely organized, disciplined, mature and attentive to detail;
«Hold a degree in either Accounting, Business or Finance with some
knowledge of law or have at least 10 years experience in private banking;
-Have experience in foreign exchange and metals markets and have
worked in a trading room environment;

-Possess proficient computer skills;

«Have excellent communication skills with written and oral fluency in
English and Arabic (fluency in additional languages would be a plus);

-Be able to work long hours and weekends as required.

Vole pte te Melt meee elm miele ea
2011 to Position Available, P.O. Box N-3937

THE NATIONAL INSURANCE BOARD

VACANCY NOTICE N
ty.

[*
‘ance

The National Insurance Board (N1R) invites applicanans from suitably qualified persons to
fill the pasinan of ASSISTANT MANAGER - INSTRU ICTIONAL DESIGNER &

FACILITATOR, in the Beeard’s Tr alg Department,

To be responsible for design, implementation and facilitation of instructional and e-learning
programs, and other technical materials that provide performance based skills training fot
potential mew and existing staff of the NIB.

RESPONSIBILITIES
Determine appropriate instructional design stritemes bor adult learning
the organizational shjectives

r that would meet

Design and implement high qualin ¥ internal programs using curncula and testing formar.
Dhow ch op materials using multimedia learning environment inte grating computer hase
trining, web dese, and metrics se ting that evaluate content chfecnvencss,

Ensure that programs and materials effecovely meee the learning objectives

Desion and facilinate orientation programs.

Design, manage and update new e-learning training programs.

Facilitate training courses thar ate creative and responsive to the training, needs identified
ancl are suitable to a nutnibser of cifferent learning: seyles.

Research and develop training material which will include writing session details /
presenters notes 80 that the material can be presented by yourself and ogher truiners,
and delivery mediums to

Continuously assess and report effectiveness of m arcrials

determine learning and cost effectiveness to the organization.

Manage and naincain the Hasis Skills Program.
Works closely with the Training Department team to avoid communication barriers.

J ‘kK
Applicants should have a Bachelor's Degree from an accredited College or University in
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Certification in Business Education would be a plus
IREMENT
® Excellent course design & development skills

* Excellent oral and written skills,
Strong interpersonal and team work skills.

Experience in leaching instructional e-learning design and training
Proven experience in software cools: Plash, Photoshop, Dreamwaver, PowerPoint, MS

Word, 5-Forge
APPLICATION

Interested persons may apply by submitting a completed application form, alone with the
necessary proof of qualifications on or before Friday, February 4, 2011, to the:

Senior Manager
Human Resources Administration
THE NATIONAL INSURANCE BOARD
Clifford Darling Complex
P.O. Box NW-7508
Wassau, Bahamas



Full Text


PAGE 4B, MONDAY, JANUARY 31, 2011

THE TRIBUNE



es
S12m ‘hostile offer’ not in AML’s interest

FROM page one

Friday means that, in effect,
the $1.50 being offered by Mr
Finlayson to the latter’s
investors is now a 47 per cent
premium. Collectively, he
would be paying about $4 mil-
lion more than the shares are
currently worth.

Mr Finlayson and Trans-
Island Traders are now await-
ing Securities Commission
approval for their public ten-
der offer, which they aim to

launch in February to acquire
51 per cent of AML Foods’
outstanding 11,540,417 ordi-
nary shares, a deal which - if
successfully consummated -
would create an enlarged
player on the Bahamian food
retail/supermarket scene.
Mr Finlayson yesterday
told Tribune Business he
thought his “prospects are

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pretty high” in terms of the
offer succeeding, adding that
RoyalFidelity principals,
Anwer Sunderji and Michael
Anderson, had played a key
role in setting the deal up by
facilitating meetings between
himself and three of AML
Foods’ largest shareholders.

It is understood that two of
those Mr Finlayson met with
were Craig Symonette, broth-
er of deputy prime minister
Brent Symonette, and busi-
nessman Frank Crothers. The
other individual Mr Finlayson
met with was likely to have
been either Majestic Tours
boss William Saunders or
Franklyn Butler Jnr.

“Their position was very
similar,” Mr Finlayson said of
the meetings. “They were not
averse to it, but indicated
their concern was: What
about the smaller sharehold-
ers?

“We have spent the last two
weeks figuring out what was
best for the small shareholder
interests, and believe this ten-
der offer, if approved by the
Securities Commission, would
be the fairest way to go about
it.”

Acknowledging that noth-
ing formal had been submit-
ted to the AML Foods Board,
Mr Finlayson said that of his
discussions with the compa-
ny’s larger shareholders,
“there were those in favour
of it, but ’m sure manage-
ment will not be very much
in favour of it”.

Questioning how AML
Foods’ management could
justify the current trading
price of the company’s stock,
Mr Finlayson suggested that
the BISX-listed food retail
group’s recently-announced
share buy back program was
an attempt to boost the stock
and ward off the advances of
an unwelcome predator,
namely himself.

However, Mr D’ Aguilar
poured cold water on Mr Fin-
layson and Trans-Island
Traders’ prospects, telling Tri-
bune Business: “The three
main shareholders most defi-

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Principal responsibilities will include opening and archiving files, witness
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applications, requisitions and correspondence are responded to promptly, and
preparing closing statements and invoices.
The successful candidate will have a thorough understanding of Bahamian
conveyancing practice and procedure, have good organizational skills with excellent
attention to detail and the ability to multi task and handle a heavy workload,
Excellent writing, telephone and interpersonal skills are essential as are excellent
working knowledge of MS Office, Word and Outlook.

Excellent salary and benefits and the opportunity to work in a challenging and
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apply by letter accompanied by a resume to be delivered to Graham
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All applications will be dealt with in the strictest confidence. The Firm reserves the ri ght
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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM



nitely rejected the offer
because they did not feel it
was in the best interests of all
AML Foods’ shareholders.

“If they were to sell out,
they would leave the minority
investors of AML at the mer-
cy of an unproven manage-
ment team, and did not think
that was the ethical, justifi-
able and right thing to do.
This is not in the best interests
of all shareholders of AML,
and the Board would not
accept an offer like this.”

Given that position, it is
possible that Mr Finlayson
and his team have gone public
with their tender in a bid to go
directly to AML Foods’
minority investors, especially
the smaller retail ones, thus
circumventing the Board.

The key is whether AML
Foods’ shareholders believe
they will do better by cashing
out now, and that Mr Fin-
layson and his team will do a
better job, or do they have
more confident that their
future lies in better hands
with the existing Board and
management team, the latter
headed by chief executive and
president, Gavin Watchorn.
This is the persuasion battle
both sides will have to fight.

While AML _ Foods’
investors had suffered heavily
as a result of the company’s
sustained heavy losses
between 2003-2008, the com-
pany has now returned to sus-
tainable, consistent prof-
itability, and is focusing on
opening its $4.5 million
Solomon’s Fresh Market store
later this year.

Contrasting this with the
approach of Mr Finlayson and
his management team, Mr
D’Aguilar said: “We’re
focused on the core business,
they’re focused on mergers
and acquisitions that do not
yield to the bottom line and
dividends. Stick to the tried
and proven team, not the
untried and unproven team.
This is not the time, in my
opinion, for them to be want-
ing to take on another com-

pany.”

THE NATIONAL INSURANCE BOARD

VACANCY NOTICE

Acknowledging that yes-
terday’s announcement had
“blindsided” him and “taken
him by storm”, first hearing
of it when Tribune Business
contacted him, Mr D’Aguilar
- like many other business
observers - questioned
whether Mr Finlayson was
trying to bite off too much,
given that his plate was
already full in trying to turn
around the loss-making City
Markets.

Acknowledging that Mr
Finlayson was cash-rich fol-
lowing Heineken’s $120 mil-
lion buyout of the Associated
Bahamian Distillers and
Brewers (ABDAB) stake in
Burns House/Commonwealth
Brewery, Mr D’Aguilar said:
“This is about more than
money. What is missing from
the equation is who will man-
age this?

“This is a very detailed,
very precise, very difficult
business to execute. You have
to have a great deal of exper-
tise to execute in this market.
The Trinidadian investors at
City Markets may have a lot
of experience in the food busi-
ness, but did not have the
expertise in the food business,
which you need to execute
flawlessly.

“The only reason this is not
in the best interests of the
company is because no one
knows who’s going to run it.
You have to make sure you
have a management team on
the ground to run this com-
pany.”

And the AML Foods chair-
man asked of Mr Finlayson
and his team: “Do they have
the experience in the food
business? Do they understand
the complexities of this busi-
ness? It’s very easy to pay
money for a business, but it’s
very difficult to manage this
business.”

Adding that the “proof was
in the pudding”, Mr
D’ Aguilar pointed to the fate
of Solomon’s Mines under the
Finlaysons’ management, and
added: “Their management
expertise is not proven.”

He did concede, though,
that AML Foods’ share buy-
back, where the company will
repurchase up to 10 per cent
of its outstanding stock over a
three-year period, was a
response to rumours about an
impending unwelcome
takeover offer from a preda-
tor.

“Maybe we heard the rum-
blings, and it was brought to
our attention that the shares
were undervalued,” Mr
D’Aguilar said. “We looked
at other companies, Cable
Bahamas and Commonwealth
Bank, and the way they used
share buy backs to bring the
value back.”

The AML Foods chairman
also took a pop at RoyalFi-
delity’s involvement, pointing
out that the investment bank
had been “talking about syn-
ergies between City Markets
and AML for the past nine
years”, even trying to get his
company on board as investor
in the BSL Holdings vehicle
they put together for the dis-
astrous $54 million purchase
of City Markets prior to sell-
ing to Mr Finlayson.

“We couldn’t see the syn-
ergies,” Mr D’Aguilar added,
pointing out that the deal put
together by RoyalFidelity cost
investors $75 million in equi-
ty “and left a company in tat-
ters. The untold millions lost
by investors and pension
funds in that deal is not some-
thing that is talked about”.

RoyalFidelity is the finan-
cial advisor to Mr Finlayson’s
tender offer, while CFAL is
placement agent.

Adding that Mr Finlayson
and his team had “not mas-
tered the business they
acquired three-four months
ago”, Mr D’Aguilar said
AML Foods and City Mar-
kets had different structures,
cultures and management
philosophies.

His company, with its
Solomon’s SuperCentre and
Cost Right formats, was in the
“mega store and club busi-
ness” while City Markets was
a neighbourhood food store.

ohlay
a ¥

—_ o

The National Insurance Board (NIB) invites applications Frean suitably qualified persons te fill

the position of SENIOR ASSISTANT MANAGER in the Board's Legal Department.

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

and contracts a5 well as provide assistance in the timely preparation of legal matters for criminal and

civil prosecution,

To develop and provide assistance with facilitating programs on the National Insurance Act and
Regulations and other Seatutes and Laws of the Cormmonwealeh of The Bahamas for the benetis
of NIB staff members and srakehokders

Prepare lease agreements for the various health clinics and local offices.

® Review and prepare contract agreements.
Assist in the preparation of marters for criminal and civil prosecution,
Prosecute in the magistrates’ criminal and civil courts in New Providence, Freeport and the

Farnily Islateds.

Upelate POSECITION SATs PEPOCT

Prepare board papers for criminal prosecution.

Conduct searches at the Supreme Court and Companies Registries,
Assist external counsel with che conduct of matters for the Board,
Manage outstanding warrants of arrest issued by the Magistrates Court,

Perform any other duties thar may be assigned.

L u
Bachelor of Laws (LLB) degree from an accredited college or universicy plus a minimum
of two (2) years experience in an administrative and supervisory capacity.
cal Admission tot the Bi; ahamas Bar with at least cw (2) | vears practicing eExpeTbence,
® Represenc the National Insurance Board in legal mateers ourside of compliance (as
required},
Be familiar with the National Insurance Act and Regulations and other Starures and Laws
of the Commonwealth of The Bahamas.
Good judgment and sound reasoning abiliry,
High proficiency in legal writing.
Exeellent verbal and written skills required.
Strong organizational skills.

APPLICATION
Interested persons may apply by submitting a completed application form, along with the
necessary proof of qualifications on or before Fri day, February 4, 2011, te the:

Senior Manager, Administration
Human Resources
The National Insurance Board
Clifford Darling Complex

Nassau, Bahamas
THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 5B



FROM page one

ness after unveiling his plans
to launch a tender offer to
acquire 51 per cent majority
stake in rival BISX-listed food
group, AML Foods, offering a
47 per cent premium of $1.50
per share to last Friday’s
close, the City Markets prin-
cipal said he hoped to obtain

kets, given that no single
majority controlling share-
holder was involved, Mr Fin-
layson said the offer - and
potential merger - was driven
by the need to achieve greater
economies of scale in food
retailing, which was essential

ee eee to cutting costs and reducing
approval within the next wee consumer prices.
to 10 days.

Questioned as to why he
was looking at expansion and
another acquisition just three-
four months after taking 78
per cent control at City Mar-

AUTO SECTOR FEARS RISE
OVER FALSE INVOICING

FROM page one

Acknowledging that a pub-
lic company takeover of this
nature was “new territory”
for the Bahamian capital mar-

tial reductions on the price of the cars they sell - in the process
denying "legitimate" companies business, and the Government,
revenue.

Fred Albury said the situation is creating “tremendous havoc”
in the industry, where established dealers are finding it hard to com-
pete with these firms.

“To ship an average Honda Civic from the US to the Bahamas
would cost $1,200 to $1,500. If it is seven to eight years old, it
should have value in Japan of at least $2,000, so the actual value
would be $3,500 including freight to the dock in Nassau, but their
invoice would show $1,800. I don’t mind competition but it’s not a
fair playing field for everyone in the industry,” said Fred Albury.

The effect is particularly significant given the effect the depressed
economy has had on demand for cars in the Bahamas. The Exec-
utive Motors dealer said that used car sales have gone from mak-
ing up 15 to 20 per cent of his business to around 50 per cent in the
last two years.

Ben and Fred Albury say the Customs Department is aware of
their concerns, and has even made inquiries on a number of occa-
sions to people such as Fred Albury, as the authorised Toyota deal-
er for the Bahamas, to ask about the value of a car of a particular
year and model, apparently as a result of suspicions about false
invoicing being done by other dealers.

Tribune Business understands that dealers have submitted to
Customs what they believe is information relating to the price of
used cars bought in Japan, which should provide the “black and
white” evidence necessary for the Department to determine that
cars are being undervalued on invoices.

Both men claim their suspicions were raised when certain sup-
pliers offered to "do for us what they are doing for them" - that is,
create false invoices that do not show the true value of the vehicle
and what was paid, therefore paving the way for someone import-
ing the vehicle not to pay the full tax on the car. An offer both say
they refused.

To date, many dealers feel not enough has been done to stamp
out illegality that may be taking place.

"The perspective we're getting from the Bahamas Motor Deal-
ers Association members is: 'What more can you do' . We have
offered to provide Customs with black and white information
that’s factual. It’s not our information, it’s information that's
accessible publicly and proves that something fishy is going on, but
they just don't seem to be willing to dig that deep," said Ben
Albury.

Tribune Business attempted to reach the Customs Department
for comment on Friday. However, all available phone numbers rang
unanswered on the numerous occasions they were dialed.

The businessmen say it is not only they but the Government and
the public who lose out. With false invoices, the Customs Depart-
ment receives less than the proper amount of revenue.

In addition, not only are the cars below market price, they say,
but some models being brought into the country also "cannot be
supported" here from a mechanical point of view, with customers
sometimes finding they are unable to get them fixed when some-
thing goes wrong, said Ben Albury.

"They are bringing in vehicles that can’t be serviced or sup-
ported here, and I have a lot of their customers coming in at end
of the day wanting us to support the vehicle or trade it in. They had
looked at the price and think they’re getting a great deal. These
guys say they’ll support them (if any problems should arise with the
car), until they go back with an issue and then they’re left out in the
cold,” said Ben Albury.

“Tf nothing is done, it will have an even bigger effect. We are pro-
viding jobs and paying taxes. These guys are not really putting any-
thing back into the economy.”

JOB VACANCY

REQUIRED

4 Senior Geographical information Systems Technician

QUALIFICATIONS AND EXPERIENCE

A Bachelor's Degree from an accredited university or
college with substantial knowledge in the felds of
major
realized that this

sual, 50 it showkd not serve as a

Civil Engineering and Electronics but with a
focusexperiance in GIS. (It is

Dinaton is um

THE GRAND BAHAMA PORT ALTHORITY, LIMITED
Personnel Department
P.O.Box F-42666

rt, (Grand Bahama tsland

oona.com

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

Merged City Meat-AML to
have just 25% market share

kets, a company with myriad
problems as evidenced by a
collective $27 million loss over
the previous four years under
previous ownership, Mr Fin-
layson said he was in an envi-
able financial position, given
that no debt financing had
been involved to date in turn-
ing that firm around.

Flush with cash from the
$120 million sale of Associat-
ed Bahamian Distillers and
Brewers (ABDAB’s) stake in
Burns House/Commonwealth
Brewery, his family holding
more than 60 per cent of the
former, Mr Finlayson said
that while focused on return-
ing City Markets to prof-
itability - something, he
added, that would be
achieved when its three exist-
ing Freeport stores were fixed
- he was also assessing expan-
sion prospects.

“We’re fixing City Markets,
but we’re also very involved
with the expansion, because
we see economies of scale as
really necessary,” Mr Fin-
layson told Tribune Business.
“Along comes Anwer Sun-
derji and Michael Anderson
of Fidelity, and they say:
‘Maybe you can achieve this
faster than you have. Rather
than grow organically, grow
by acquisition’.”

If he was successful in
obtaining 51 per cent majori-
ty control at AML Foods, and
merging it with City Markets,
Mr Finlayson said the com-
bined entity would return the
latter to its 2007 sales levels,
generating around $150 mil-
lion in per annum food sales
alone.

“When you look at the
economies of scale, what it
does for the overall compa-
ny, it goes back to a very prof-
itable organisation, and both
sets of shareholders will do
well from it,” Mr Finlayson
said.

If his tender proved suc-
cessful, he said the first thing
he would do was an examina-
tion of AML Foods’ prices in
its Solomon’s SuperCentre
and Cost Right formats. “I
see where we can do some

improvements in that regard,”
Mr Finlayson added.

“The second thing we’re
going to do is take the focus
off big ticket, larger items. In
this business it’s all about how
many turns you can get in a
year, and right now those big
ticket items are not doing
what they need to, and even
at the peak, they stored cash
rather than turned cash,” he
added, hinting that space may
be sub-let to other retailers
to supply items such as elec-
tronic appliances.

While unable to provide
details on how a merger
would be executed, Mr Fin-
layson said his tender offer
was “definitely not hostile”,
and added: “I really don’t
think it will be difficult to get
up to 51 per cent. There are a
number of people involved
there that I think would part
with their shares, and in terms
of the actual public out there,
I think a number of them will
cash out at a premium.”

Mr Finlayson, and his
Trans-Island Traders vehicle,
appear to be banking on the
fact that a large number of
minority AML _ Foods
investors, especially the retail
ones, will be looking to cash
out given the company’s
struggles in the 2003-2008
period, and the fact it has only
recently resumed dividend
payments.

However, one analyst, who
requested anonymity, last
night told Tribune Business
bluntly on the Finlayson offer:
“That ain’t going to work,
because no one will sell at
$1.50 a share. He’s going to
need $4 a share to get con-
trol. The larger shareholders
are not pleased with it at all.
They’re not willing to sell to
the Finlayson team. It’s a
futile exercise.”

By going public with the
tender offer, it is possible that
Mr Finlayson is looking to
exert some pressure on AML
Foods’ management and
Board. It is possible that,
while not gaining majority
control, Mr Finlayson could
still acquire a large position
in AML Foods’ stock,
enabling it to press for Board
seats and a say in manage-
ment.

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No 45 of 2000)

ALLIED CORPORATION INC.

LIQUIDATOR’S NOTICE

PURSUANT TO SECTION 138 OF
THE INTERNATIONAL BUSINESS COMPANIES ACT.

We, SOVEREIGN MANAGERS LIMITED, Liquidator of
the ALLIED CORPORATION INC., hereby certify that the
winding up and dissolution of ALLIED CORPORATION
INC. has been completed in accordance with the Articles of

Dissolution.

Dated the 22nd day of December, 2010.

Signed
For & On Behalf Of

Sovereign Managers Limited
Liquidator

52wk-Low

Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings

Securit)
"AML. Foods Limited
Bahamas Property Fund
Bank of Bahamas

ROYAL @ FIDELITY

Bortary af Vitor

Mr Finlayson is due to meet
the Securities Commission
today, and while acknowl-
edging that “this is a whole
new territory”, is hoping to
get regulatory approval to
launch the tender within the
next week to 10 days.

The tender is likely to last
for a minimum of two weeks,
and a maximum of one
month, depending on the pace
and level of investor response.
It remains to be seen whether
the Securities Commission
will force him to make an
offer for AML Foods’ shares,
something that would be
tough to accomplish, given the
diverse shareholder base.

Seeking to allay any com-
petition and antitrust fears,

Mr Finlayson said a merged
AML Foods-City Markets
would only have a 25 per cent
stake of the $600 million-plus
Bahamian food retail busi-
ness. “It’s one that makes
sense for both companies, but
if you talk about affecting the
overall food business, it’s only
25 per cent of the market,”
he added.

“You can’t underestimate
the independents, because
they’ve stolen a big part of
the market share since 2007,
no doubt about it.”

City Markets has nine
stores, six in Nassau and three
in Freeport, while there is a
Solomon’s SuperCentre and
Cost Right in both Nassau
and Freeport.

Sandlewood Residences
St. Albans Drive

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Fully furnished
$550 to move in & $175 weekly
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Tel: 325-1325 | 325-1408



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by Investing In Your Future

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"aloe

L AR

ch it
BKG/410.03

ADVERTISEMENT FOR THE BAHAMAS
GOVERNMENT TREASURY BILLS

Sealed tenders for B$76,209,000.00 of 91-Day Treasury Bills,
will be received by the Banking Manager, The Central Bank
of The Bahamas, Frederick Street, Nassau up to 3:00 p.m on
Thursday, February 1, 2011. Successful tenderers, who will be
advised should take up their bills against payment on Tuesday,
February 3, 2011. These bills will be in minimum multiples of
B$100.00.

Tenders are to be on special forms obtainable from the Central
Bank of The Bahamas or Commercial Banks.

Tenders must state the net price percent (in multiples of one
cent) and should be marked “Tender”. The Central Bank of the
Bahamas reserves the right to reject any or all tenders.

HRA A I A A OR AE AE AE AE OR AO I OK AE OE AE OE A OO EK OE OE A OK OK OK

A FG CAPITAL MARKETS
, . cS BROKERAGE -_s0yisoay SERVICES

cr AL cl. ca bce MT AT.

BISX LISTED & TRADED SECURITIES AS OF:
FRIDAY, 28 JANUARY 2011
BISX ALL SHARE INDEX: CLOSE 1,475.31 | CHG -1.83 | %CHG -0.12 | YTD -24.20 | YTD % -1.61
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW .BISXBAHAMAS.COM | TELEPHONE: 242-323-2330 | FACSIMILE: 242-323-2320

1.02
10.63
4.90
0.18
2.70
2.17
10.21
2.40

Commonwealth Bank ($1) 6.85
Consolidated Water BDRs 2.05

Doctor's Hospital
Famguard
Finco

FirstCaribbean Bank

Focol (S)

1.60
5.47
6.51
9.39
5.48

Focol Class B Preference 1.00

ICD Utilities
J. S. Johnsen

Premier Real Estate
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)
Securit: Last Sale

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) +

RND Holdings

ABDAB
RND Holdings

Fund Name
CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund
Royal Fidelity Bahamas G & I Fund
Royal Fidelity Prime Income Fund
101.6693 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

1.4076
2.8300
1.5087
2.8522
13.0484

99.A17TT
1.0000
1.0000
1.0000
9.1005

10.0000
9.1708

4.8105

ffect ate 8/8/2007
(S1) - 3-for-1 Stock Split - Effec'

ate 7/11/2007

7.40
9.82
10.00

Symbol
BAH29
FBB17
FBB22
FBB13
FBB15

Previous Close Today's Close

Change
1.02 0.00

10.63 0.00
4.90 0.00
0.18 0.00
2.70 0.00
2.1 0.00

10.21 0.00
2.40 0.00

Daily Vol. EPS $

0.150

Div $ P/E

0.013
0.153
-O.87F
0.168
0.016
1.050
0.781
0.422
0.111
0.107
0.357
0.287
0.494
0.366
0.000
0.012
0.859
9.991

6.81 -0.04
2.23 0.18
1.60 0.00
5.A7 0.00
6.51 0.00
9.39 0.00
5.48 0.00
1.00 0.00
7.40 0.00
9.82 0.00
10.00 0.00
Change Daily Vol. Interest
99.46 0.00 6.95%
100.00 0.00 7%
100.00 0.00 Prime + 1.75%
100.00 0.00 7%
100.00 0.00 Prime + 1.75%

20 November 2029
19 October 2017
19 October 2022

30 May 2013
29 May 2015

RoyalFidelity Merchant Bank & Trust Ltd. (OQver-The-Counter Securities)
Symbol Bid $
Bahamas Supermarkets 5.01

0.35

Ask $
6.01 14.00
0.40 0.55

Last Price Daily Vol. EPS $
-2.945

0.001

Div $
0.000
0.000

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

30.13
0.45

31.59
0.55 0.55

4.540
0.002

0.000
0.000

BISX Listed Mutual Funds

NAV
LSS
2.9474
1.5790
2.7202
13.2825
114.3684
106.5528
1.1465

4. 118s
1.1491

9.7950

stment Fund Principal
10.6417

stment Fund Principal
9.6635
8.3979

YTD%
5.51%
2.10%
0.32%
12.72%
-0.63%
9.98%
4.75%
5.20%
4.73%
5.35%

4.85%
-1.20%

3.37%
8.82%

NAV 3MTH
1.498004
2.918697
1.561030

NAV 6MTH
1.475244
2.919946
1.543785

Last 12 Months %
6.90%
2.09%
4.57%
4.63%
-0.14%
12.49%
7.18%
5.20%
4.73%
5.35%

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

109.392860
100.779540

107.570619
105.776543

5.45% 30-Nov-10

0.50% 30-Nov-10

-3.37%
8.82%

30-Nov-10
31-Dec-10

MARKET TERMS
YIELD - last 12 month

NAV - Net As:

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


PAGE 6B, MONDAY, JANUARY 31, 2011

THE TRIBUNE



BUSINESS ee
Robin Hood targets 30k vistors for Jan

FROM page one

Scotiabank, Sbarros Italian
eatery, the “only fine din-
ing” restaurant in eastern
New Providence, a medical
centre and a 22,000 square
foot gym and spa, which will
feature squash and racket-
ball courts and more.

“It’s going to have the
works. We’re moving
aggressively on it,” he told

Tribune Business. While no
contracts have yet been
signed, the gym may be
opened under the “Magic
Johnson brand”, in conjunc-
tion with the former basket-
ball star.

The shopping plaza is the
next stage of the Prince
Charles development pro-
ject being undertaken by Mr

ope

MINISTRY OF FINANCE
TREASURY DEPARTMENT

PUBLIC NOTICE

Schaefer and his business
partner, Suresh Khilnani,
who officially opened the
new 45,000 square foot
Robin Hood store in the
former Pepsi plant off
Prince Charles Drive on Fri-
day.

Mr Schaefer said that so
far the Robin Hood store,
which quietly opened its

GN 1164

RELOCATION OF THE PUBLIC TREASURY DEPARTMENT

THE TREASURER OF THE COMMONWEALTH OF THE BAHAMAS WISHES TO

ADVISE THE GENERAL PUBLIC THAT THE PUBLIC TREASURY

DEPARTMENT WILL BE RELOCATED TO THE NORTH BUILDING AT WATER

TOWER PLACE EA!

TH

DIRECTLY OPPOSITE THE ROYAL BAHAMAS POLICE FORC

HEADOUARTERS.

EFFECTIVE MONDAY JANUARY 17, 2011 THE FOLLOWING SECTIONS
WILL BE OPERATING FROM THE ABOVE LOCATION:

REVESUE SECTION

PENSION SECTION

PAYROLL SECTION

STAMP EXEMPTION SECTION

EFFECTIVE MONDAY JANUARY 24, 2011 THE PUBLIC TREASURY WILL
BE IS FULL OPERATION FROM THE ABOVE LOCATION,

CFA Society of The Bahamas &
The Bahamas Institute of Chartered
Accountants (BICA)

CFA Soctery af The Baliernas

2201 Officers &e Directors

Proniorrt! Co-Chour Progrccre

Senn Barebr, CFA

The Bank of Nova Scots Trt Commny
FO Bon 8-4, Naxan Bahu:

Phe (22) SE S018 Fans (22)

Vow Preccimi

Kawreni Pinter, CFA, CALA

EPG) Bonde dt Trot (Hotere) Lick

FO Bon 35 6200, Nox, Baha

Po: (22) SE M00) Fane 23) SO Sa
Tou

Anelree Strachein

(Chandon Lew Lid

PO Born W825, Maren, Bahra

Fhe (240) 30 OOS Faw: (242) 323 SE
Enrol rena hiooreorsy nat

Cena}

Vena Miler, CFA

Paywal Fadetbry Mencnat Boiik S Tinat
Liveted

PO Bor N04, Narcan, Haharras

Phe (240) Mig 770 Fao: (242) 306 0D
Enail vias Bi Vey

CoD war Progiaiie

Devil Renares, CFA

Frotet Bak & Trt Lad

PO Bow 9 4037, Maas, Bahan

Phe (242) SD 2207 Faas (282) 327 60
Eirail Segarey Pa et cogs

Btocahon & Srbobarsigy

Anetre Souza, CFA

Autiwal Seomines Lad

PO Bos SP 04)F9_ Saas. Balas

Phe (242) 2 790 Fae (242) MGT
Enrail apthe Dy helyal coat

Pebbe Raton

Chorlems AL Lavrtx-Sonall, CFA

KEM0 Copa Fine

PO) Bors 1.25, Movesan ahaaes

Phe (2) 4 0d Fae: (40) 0 1772
Enraat: chews Figpeag core. bn

Meaibersliag

Jenny Teck, CFA

LOM Securtims (Bakaren) Lid

PO Bon. CH 2762-525, Mina, Bahawans
Phe (2) SOY 00S Fan: (2) SEs
Eval ays chur koi cog

Past President

Chalknogher Dagsett, CRA

Civbaak HA. Batanas Beach

PO) Baws 9108, Marsan, Boahanvins

Phe (240) S02 8008 Fan: (247) 300

MONTHLY SPEAKER LUNCHEON

“Trends in Insolvency and Asset Recovery"

Wedueslay, February 9, 2011

13:00 pm
13:40 pm

Location:
Wimlsor Room A
Dewntomn Nassau

British Colonial Hilton

General Meeting
Speaker's Address
Please arrive {if comnptly?

doors on January 8, is on
pace to attract 30,000 cus-
tomers this month, and set
to “top out somewhere in
the 50,000 to 60,000” range.
Seventy people are now
employed there.

After a “humbling” expe-
rience, which saw issues
with the required installa-
tion of a fire sprinkler sys-
tem cause Robin Hood to
miss the lucrative Christmas
shopping season, and mil-
lions of dollars in potential
revenue lost, Mr Schaefer
said traffic at the store since
January § has “exceeded our
expectations”.

“It’s been good and sales
have been good,” said the
businessman in an interview
with Tribune Business dur-
ing the grand opening.

One of the = store’s
strengths is its location
immediately in the vicinity
of Prince Charles Drive, a
heavily-populated area, and
the fact that he was able to
obtain the property for a
“steal”.

Some $3.5 million was
then invested in the build-
ing, which has now been
appraised at around $8 mil-
lion, said Mr Schaefer.

“We bought it for proba-
bly one-third of its actual
value. That’s part of the
trick in being able to retail
at lower costs. If you are
paying higher rents the con-
sumer pays for that,” he not-
ed, adding that the compa-
ny’s sourcing of “98 per
cent” of its inventory direct-
ly from sources overseas,
cutting out “middle man”
wholesalers, also plays a
huge part in lower prices
offered.

Within the colourful and
airy store, a range of gro-
ceries, electronic appliances,
as well as hardware and
kitchen, bedroom and bath-
room products and furnish-

ings, are offered, as well as a
“full service” butchers and
bakery.

Within four weeks a Sco-
tiabank outlet, Cash 4 Gold,
music store and restaurant
will be up and running with-
in the store.

Asked to explain how the
store can be differentiated
by customers from the City
Market or Super Value
shopping experience, Mr
Schaefer said: “The store is
at least twice the size of any
City Market or Super Value.
In some cases it’s three
times the size. So, as a result
of the increase in size, the
variety of products we can
carry in terms of selection
is vastly different. For
instance, you will see with
us we have hundreds of teas,
hundreds of different spices,
a variety of cheeses and that
will be increased, 75 differ-
ent types of bread, coffees
and hard goods as well -
eletronics, appliances, hard-
ware.

“We aspire to be the Wal-
mart of the Bahamas.”

Meanwhile, Mr Schaefer
stressed his company’s com-
mitment to offer products at
lower prices than some of
his competitors.

Speaking to the impact of
the entry of Robin Hood
into the food retail market
as a whole, Mr Schaefer
contended that “no one can
deny” the introduction of
Robin Hood “has changed
the face of retail”, having
introduced greater compe-
tition into the environment.

“It forced everybody to
lower their prices and
improve their game, and the
beneficiary is the Bahami-
an consumer. That’s why we
are constantly looking at
ways to reinvent ourselves,
otherwise you get stale.
Now you see the foodstores
doing a better job and the
prices have gone down,” Mr
Schaefer said.

“The reality is that retail

Legal Notice

MIRAGE SHIPPING COMPANY LIMITED

(In Voluntary Liquidation)

Notice is hereby given in pursuance of Section

138 (8) of The International Business Companies
Act, 2000 (as amended) the Dissolution of the

above-named company has been completed, a

Certificate of Dissolution has been issued and the

above-named company has therefore been struck

off the Register. The date of the completion of the
dissolution was the 16th day of December 2010.

Bennet R. Atkinson
Liquidator



is a battle, and in battle you
are going to have some win-
ners and losers, and you are
going to have some casual-
ties, but that’s the way it is.
The second you think retail
is easy, non-confrontation-
al or competitive, well that’s
only when there’s a monop-
oly or an oligopoly, which
essentially there was. The
reality is now it’s a compet-
itive environment, and the
direct result of that is prices
drop and prices improve.”

Yesterday, most cus-
tomers approached by Tri-
bune Business said they
were generally pleased with
what they found at the store,
and its location.

Edward Virgil, a retiree,
said: “Anywhere where you
can get stuff a little bit
cheaper is always of inter-
est to me. I used to go down
the road to the one in Har-
rold Road, but I live in this
area so now that this is here
I really appreciate it and I
believe in the future. I
believe it will be well organ-
ised and stocked like the
one down on Harrold Road.

“T look for cheaper prices
and quality stuf,f and any-
one who is doing that is
right up my alley. I can’t say
Iam dedicated to any store,
but if you are selling things
cheaper I will come. If it’s
dearer, I will go elsewhere.”

Meanwhile, Michelle
Grey, 41, of Johnson Road,
said: “It’s different. There’s
a lot of variety in the meats
and the bakery stuff.”

Desmond Mason said he
now expects to do “nine out
of ten” of his grocery shop-
ping trips at the store. “It’s
spacious, the price is right
and it’s nice,” he said.

A 48 year-old Prince
Charles Drive woman said
she appreciated the specials
on offer and the proximity.

“It’s not as bountiful as
the one out on Harrold
Road, but we’re happy to
have it in the east. It will
save us the gas that it would
take to get out to the other
shop,” she said.

Mr Schaefer said he is
continuing to survey New
Providence for potential
locations for more new
Robin Hood stores. “We are
looking everywhere,” he
said. However, any further
expansion will not take
place until the Prince
Charles location is firmly
established.

“We’re looking to expand,
but we want to get this one
well situated first before we
do that.

“Growing for the sake of
growing doesn’t make sense.
Growing with your eye on
the profit line does. So we
will only expand if and when
the situation is right,” he
said.

Franchising of Robin
Hood into the Family
Islands is set to get under-
way “in the next two to
three months.”

GN-1170

Speaker Ednimnd Ralining, CPA, CFE

Mannging Director (Bahamas Office)
Krys Global

Members: 530,00; Som-Membpers: So0.00
Cheques payable to either : CFA Society of The Bahamas
or Bnhoouas [Institute of Chartered Accountants (BICA)

Reservation: = PREREGISTRATON REQUIRED =

by Friday, February 4, 2011, contact:
bewexecmitres hotmail.com, tel. 326 bbr9

Ednind Rahining is the Managing Director of Krvs Global. Ed ts a
Certified Public Accountant, a Certified Fraud Examiner and is
Certified in Financial Forensics by the American Institute of
Certified Public Accountants, He holds 2 MBA degree from the
University of Florida,

He hos over 13 years of experience across a broad range of
insolvency, fraud and forensic accounting investigations and
litkgation-related finaneial analyses. This experience was obtained
working for a Big Four accounting firm In the Bahamas, the
Cavman Islands, the U.S.A. and the U.K. He has worked on and led
a niiber of high profile insolvency and forensic accounting matters
ina variety of industries, including financial services,

Ed is a member of the American Institute of Certified Public
Accountants, the American Bankruptcy Institute, the Association of
Certified Froud Examiners and the Bahamas Institute of Chartered
Accountants,

BICA Members: This event qualifies for 2 CPE hours



MINISTRY OF TOURISM & AVIATION
DEPARTMENT OF CIVIL AVIATION

PARTICULARS OF AN APPLICATION TO OPERATE SCHEDULED AIR SERVICES

In accordance with the provisions of Regulation 9 of the Civil Aviation (Licensing of Air Services)
Regulations 1976, the Minister responsible for Aviation hereby publishes the following particulars of the
under-mentioned applicant to operate scheduled air services to and from The Bahamas.

6.

7.

PARTICULARS OF APPLICATION

Application:

WESTERN AIR.

Date of first publication: 1) yee eu DOLPY, y aS \\

Routes: BETWEEN

ON THE OTHER.

« NASSAU ON THE ONE HAND AND JACKSONVILLE, FT. LAUDERDALE AND HAVANA

.« FREEPORT AND MARSH HARBOUR ON THE ONE HAND AND FT. LAUDERDALE ON

THE OTHER.

Purpose of services: Passenger, mail and freight.

Provisional time table:

NASSAU/JACKSONVILLE
JACKSONVILLE/NASSAU
NASSAU/FT. LAUDERDALE

FT. LAUDERDALE/NASSAU
NASSAU/HAVANA

HAVANA/NASSAU

FREEPORT/FT. LAUDERDALE

FT, LAUDERDALE/FREEPORT
MARSH HARBOUR/FT. LAUDERDALE
FT. LAUDERDALE/MARSH HARBOUR

Frequency of flights: See above time-table.

Type of Aircraft: SAAB 340

Local Times

1000/1130 WED/FRI/SUN

“«

1200/1330
0700/0755 DAILY
0900/1030 WED/FRI/SUN
0900/1030 7 = =
1200/1330 s
0700/0730 DAILY
0830/0900 a
0900/1000 DAILY
1100/1200

“« “

Any representation regarding or objection thereto in accordance with Regulation 10 must be received by the.
Permanent Secretary, Ministry of Tourism & Aviation & the Department of Civil Aviation within fourteen
(14) days after the date of first publication of this Notice.



Signed:

HYACINTH PRATT
PERMANENT SECRETARY

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
‘i The Tribune &

im lovin

SOF
69F

SUNNY
AND NICE

Volume: 107 No.57





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MONDAY, JANUARY 31, 2011

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BAHAMAS BIGGEST





Cyclist rowel
flown and Killed

Car chased down
51-year-old victim

A CYCLIST was mowed
down and killed after being
chased by the driver of a sil-
ver coloured Pontiac on East
Street.

Witnesses saw the victim, a
51-year-old male resident of
Sunlight Village, being pur-
sued by the driver moments
before he was hit and left
lying on the side of the road.

The driver allegedly tried
to leave the scene of the crime
but crashed into another car,
a 2001 Ford Taurus, which
was travelling south on East
Street.

Police have classified the
death as a murder. A 44-year-
old male of Lucky Hart Cor-
ner is assisting police with
their investigation.

The victim’s body is to be
identified this morning, police
said, declining to release fur-
ther details until this process
has been complete.

Press Liaison Officer
Sergeant Chrislyn Skippings
said the incident occurred
around 10.35pm on Friday
when police received infor-
mation that a man was struck
off his bicycle while riding at

the juncture of East Street
and Sunlight Village.

Responding officers found
the man, clad in khaki pants
and a khaki shirt, lying on the
side of the street.

Witnesses told police the
victim was riding his bicycle
north on East Street when the
driver of a silver coloured
Pontiac vehicle struck him
from his bicycle.

"Tt is further reported that
the driver of the Pontiac was
observed chasing the male on
the bicycle prior to him being
struck,” said Sgt Skippings.

Police are also investigat-
ing two shootings that
occurred over the weekend.

Around 4am yesterday,
police received information
of a shooting in Lower Bogue,
Eleuthera. Officers were told
that a man was at home when
he was wakened by another
male inside his home armed
with a handgun.

"Tt is reported that the cul-
prit fired gunshots at the male
which resulted in him receiv-
ing gunshot injuries to the

SEE page 10

Pre-inventory clearance

Sale

YOY,

Sah

arth Ry






Felipé Major/Tribune staff

SEE SECTION E

PLP ‘WILL
AGGRESSIVELY
RENEGOTIATE’
BIC SALE

IF ELECTED

IF the PLP should win the
next general election, it will
“ageressively renegotiate”
the terms of the sale of BTC
which it deems “repugnant
to the national interest,”
opposition leader Perry
Christie said at the party’s
Grand Bahama conclave
over the weekend.

“If the FNM administra-
tion proceeds against the

SEE page 10

WHAT A SHOW: Pictured above is some spectacular entertainment from Friday night’ S 14th Annual Cacique Awards. Among the win-
ners on the night was Ali Bain (inset with Minister of Tourism Vincent Vanderpool-Wallace) who won the Minister’s Award for Hospitality.
¢ SEE PAGE TWO

DISAPPOINTMENT OVER SMALL
NUMBER OF DEFENDANTS USING ©
PLEA BARGAINING SYSTEM

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

LEGAL experts are disap-
pointed in the small number
of accused criminals who
have used the plea bargaining
system since its legislation
was passed in 2008.

Government hoped the
availability of plea bargain-
ing would have prompted
defendants to plead guilty to
their charge and receive a
recommendation to serve less
than the maximum sentence.
However Attorney General
John Delaney told The Tri-

SEE page 12

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CHRISTIE: GOVERNMENT MUST BE
_ CAREFUL ABOUT CHANGING GRAND
BAHAMA ECONOMIC STRUCTURE

OPPOSITION leader
Perry Christie said while he
feels the revenue that
would come from the expi-
ration of tax exemptions
under the Hawksbill Creck
Agreement would be a
great benefit to the public
treasury and to the Bahami-
an people, a government

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must be careful about
changing the economic
structure of Grand Bahama
so it does not “kill the goose
that laid the golden egg.”
Mr Christie made the
statement during a PLP
conclave in Grand Bahama
over the weekend where he

SEE page 10

Nassau
PAGE 2, MONDAY, JANUARY 31, 2011



1 ATION
/

HOTELIERS, chefs, musi-
cians, writers and airlines were
among those recognised at the
14th Cacique Awards, where the
country’s youth received words
of encouragement from Life-
time Achievement Award win-
ner, Majestic Tours proprietor,
William “Bill” Saunders.

Addressing young Bahami-
ans, Mr Saunders told them they
can do anything they can dream
of if they have a vision.

The awards, which recognise
individuals who have made a
contribution to tourism in The
Bahamas, were held at the Rain-
forest Theatre at the Wyndham
Nassau Resort on Friday.

Ahead of the awards it was
announced that Mr Saunders
was to be the recipient of the
Lifetime Achievement Award,
while George Markantonis,
President and Managing Direc-
tor of Kerzner International
(Bahamas), which owns and
operates the Atlantis resort, was
recognised as Hotelier of the
Year.

In addition to these two top
awards, awards were announced
in categories including Sustain-
able Tourism, Handicrafts, Man-
ager of the Year and Cruise
Line of the Year.

Accepting his award, Mr
Saunders told young people:
“You can be whatever you
aspire to be, providing you have
the dedication and the vision to
make it happen.”

“You don’t have to be born
into a family of wealth. I came
from a poor family but I knew
what I wanted to do at a point
and time in my life. I aspired to

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Kerzner International (Bahamas), which owns and operates the
Atlantis resort, was recognised as Hotelier of the Year.

do it. I had a vision for it, and I
had the dedication. Tonight I
am happy to be here at 81, a
Cacique.

“My blessings are from my
heavenly father above. They are
not only pertaining to my health,
but they pertain to my success.
And my message to the young
people tonight is you can do it.
Have the vision and the dedica-
tion, and you move forward with
your life.”

Mr Markantonis said every-
body in the tourism sector, espe-
cially over the last two years,
deserves an award for their hard
work. He said whatever he and
his team at Kerzner Interna-
tional Bahamas have done so
far, will be done even better in
the coming years.

“There is one way we are
going to win,” he said. “If we
really believe in this country, we
will succeed from tourism across
the board, and that’s because
we are always going to be more
aggressive and more creative
than anybody else, and on top of
that, we are going to do every-
thing in a much more energetic
fashion.”

Others recognised during the
evening were recently-departed
tourism contributors, among
them Sir Clement T Maynard,
the former Minister of Tourism

Felipé Major/Tribune staff

for whom the Minister’s Award
for Hospitality is now named.

Tribute also went out to for-
mer Cacique sound engineers
Lavard Curtis and Clarence
“Nat” Williams, who died in a
plane crash in October, 2010.

Winners in all categories
were:

Sustainable Tourism — Stuart
Cove, Nassau

Handicraft — Dorothy Miller,
Long Island

Transportation - SkyBahamas

Sports, Leisure & Events —
Justin Sands, Abaco

Human Resources Develop-
ment — Marilyn Brennen,
Lyford Cay Club

Creative Arts —- Bahamas
National Youth Choir, Nassau

Minister’s Award for Hospi-
tality — Ali Bain, Nassau

Lifetime Achievement -
William “Bill” Saunders

People’s Choice Award,
Gospel — Shaback, Nassau

People’s Choice Award, Sec-
ular — KB and The Sting, Nassau

Supervisor of the Year — Vivi-
enne Haynes, Kerzner Interna-
tional Bahamas

Sales Executive of the Year —
Molly McIntosh, Green Turtle
Cay Club and Marina

Employee of the Year —
Micklyn Lightbourne, Sandals
Royal Bahamian Spa and

COMMERCIAL & RESIDENTIAL

CUSTOMERS

KEEP CURRENT WITH
YOUR ELECTRICITY
BILL PAYMENTS

THE TRIBUNE

Reyer

CACIQ



WILLIAM ‘BILL’ SAUNDERS receives the Lifetime Achievement Award from Tourism Director
General David Johnson.

SHABACK won the People’
Choice Award, Gospel.

Resort

Chef of the Year — Michael
Adderley, Kerzner Internation-
al Bahamas

Manager of the Year —
Kressville P. Ritchie, Sandals
Royal Bahamian Spa and
Resort

Hotelier of the Year —
George Markantonis, Kerzner
International Bahamas

Tour Operator of the Year —
CheapCaribbean.com

Cruise Line of the Year —
Royal Caribbean International

Travel Writer of the Year —
Thomas Haines, AOPA Maga-
zine

Airline of the Year — JetBlue
Airways



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THE TRIBUNE



MONDAY, JANUARY 31, 2011, PAGE 3

LOCAL NEWS

Christie: Stop
PLP bickering in
Grand Bahama

THE bickering and dis-
unity within the ranks of
PLPs in Grand Bahama
should stop immediately so
the party can concentrate
on winning the next gener-
al election, opposition
leader Perry Christie said
at a PLP conclave in Grand
Bahama over the weekend.

He said this was no time
for there to be divisiveness
or disunity within the ranks
of PLP, and instead they
must be cohesive and unit-
ed.

“The PLP of Grand
Bahama has to get out of
the disunity business,” he
said.

“The bickering and in-
fighting has got to stop.
There is just too much of
it, especially here in Grand
Bahama. We need to work
together. After all, we are
joined together in a com-
mon cause and we all know
who our common political
enemy is. So why can’t we
keep those things that unite
us at the forefront of our

“The bickering
and in-fighting
has got to stop.
There is just
too much of it,
especially here
in Grand
Bahama.”



Perry Christie

minds and lay aside the
things that divide us?

“We have to unite to
fight. Believe me, my
brothers and sisters, there
is no other way to succeed,
there is no other way to
win.”

The opposition leader
said party members need
to put the party machinery
in Grand Bahama, in the
whole northern Bahamas,
in a State of readiness.



“We need now to put it
in a state of high alert. We
are entering now the final
phase of preparation for
the next general election.
As the party in opposition,
we start off with a strate-
gic disadvantage: we do not
know when the next gener-
al election will be held.

“Since we don’t know
that, and won’t know that,
it behooves us all to get
ready from now. We need

PLPS at Saturday night’s party
conclave in Grand Bahama.

to ensure that when the bell
is sounded, we will find
ourselves in full readiness
for battle.

“We need to proceed on
the premise that the next
general election will be
called sooner rather than
later.

“Tf time proves us wrong
and the election is actually
called later rather than
sooner we will have lost
nothing by having prepared
for an early contest,” Mr
Christie said.

Davis: FNM must say how much of
S63m will be invested in Grand Bahama

PLP Deputy demands
answers over tax revenue
from sale of BORCO



PLP DEPUTY LEADER Philip ‘Brave’ Davis speaks at Saturday’s

conclave on Grand Bahama.



THE FNM must tell the
people of Grand Bahama
how much of the $63 mil-
lion in tax revenue it
received from the sale of
BORCO to Buckeye Part-
ners will be invested in the
economically-strapped
island, PLP deputy leader
Philip “Brave” Davis said
at a PLP conclave on the
island over the weekend.

Mr Davis said consider-
ing the poor financial
future facing the island, all
of the money should go to
the people of Grand
Bahama.

The sale of BORCO was
the biggest sale of any
company in the history of
the Bahamas. The deal,
which was for the sale of
a portion of BORCO to
Buckeye Partners, amount-
ed $1.36 billion.

“This sale, my fellow
PLPs, will give the govern-
ment around $63 million
in tax revenue. The ques-
tion you should ask the
government is how much
of this $63 million will go
to the people of Grand
Bahama? What happened
to the tens of millions in
stamp tax that was collect-
ed from the sale of Vopak?
Why aren’t all those mil-
lions of dollars being spent
right here where it is most
needed? It is needed here
in Grand Bahama. It is
needed now,” Mr Davis
said.

He said if he should
become the next deputy
Prime Minister the PLP
will move Grand Bahama
forward and make Grand
Bahama grand again.

Programmes

“We will reinstitute and
create powerful and far-
reaching educational, civic
and community pro-
grammes to address grow-
ing social concerns. We
commit tonight to help
those that are destitute
find employment and
restore hope. We will
empower our young men
and women,” the deputy
leader said.

The PLP, Mr Davis said,
will aggressively promote
Grand Bahama as a place
for commercial and tourist
development.

“We will place a major
focus on attracting off-
shore financial services
companies and e-business
to these shores.

“We will make Grand
Bahama grand again,” he
said.

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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 4, MONDAY, JANUARY 31, 2011

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 1972-1991

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

TELEPHONE
Switchboard (News, Circulation and Advertising) 322-1986

Courts cooperating with the police

OPERATION Rapid Strike, launched on
the night of January 20 by Commissioner of
Police Ellison Greenslade, is starting to pay
dividends as police target “prolific offend-
ers.”

As crime continues to escalate, police are
confident that with the cooperation of the
courts they can make a tremendous difference
by taking repeat offenders out of circulation.

An investigation of most crimes committed
today reveals that they involve persons with
long rap sheets accused of murder, attempt-
ed murder, break-ins and numerous other
skirmishes with the law — all out on bail
awaiting their day in court. The police are
starting to round them up, and with the coop-
eration of the courts, will get them before
Justice as quickly as possible.

Mr Greenslade has said that the police
are very pleased with the assistance being
provided by the Office of the Attorney Gen-
eral and for its new policy of bringing those
accused of gun crimes before the courts in a
matter of weeks.

It is not unusual to hear a discouraged
police officer, shrugging his shoulders in
defeat, complain that as soon as the police
take an offender off the streets, some lawyer
gets the courts to grant him bail, and the
police chase starts all over again. The police
are getting tired of chasing the same old law
breakers. It is hoped that the courts will get
the message and, instead of being a part of
the problem, will now make every effort to
work with the police for the safety of the
community. Magistrates can now stop their
ears to the bail pleas of the lawyers.

It is only commonsense that it serves no
purpose to return “prolific offenders” to the
community. In fact it is forcing them back
into crime. They can only survive if they can
find employment. But who is going to employ
anyone who is out on bail for murder,

attempted murder, gun possession or steal-
ing? Not being able to earn an honest living,
they cannot supply food for their table, nor
find the down payment for their lawyer.
Crime is their only profession. It is the only
profession that they know of that brings
returns, if they can escape the bullet of a
rival.

How many of those persons, now
deceased, would still be alive today if they
were behind bars awaiting trial, instead of
on the streets preying on the public? Among
the homicides that we report are men on bail,
gunned down by another, also on bail. While
awaiting trial they are busy settling old scores.

A mother said to us recently after one
such killing, that if it were her son, she would
insist that he be kept behind bars until his
case was called — at least in jail she would
know that he was safe.

Many offenders laugh and brag about how
quickly certain lawyers can spring them from
jail. It is no wonder that they are not attract-
ed to the new plea bargaining system, which
became law in 2008. As long as they can get
long stretches of freedom, hoping that the
court system will get so bogged down that
their case eventually will be forgotten, they
won’t be overly anxious to confess their sins
and negotiate their prison time. However,
with speedier trials, there is no longer an
excuse for bail, but more incentive for them
to sing and avoid court.

Last year there were only two criminal
courts. By next week there should be four.

"With the immediacy of a trial, that tends
to concentrate the mind and people will take
opportunities to plead guilty or come to an
arrangement by which they can pay for their
crime," said Attorney General John Delaney.

Meanwhile, the police are back on the
streets working hard to make them safe for
law-abiding citizens.

Non-functioning traffic lights

These non-functioning traffic lights
throughout the island are a serious traffic
hazard. Despite the complaints of the public,
there seems to be no solution. When some of
the lights are repaired, the repair lasts two
weeks at the most. There are lights that can
be seen by motorists travelling in one direc-
tion, but not by motorists travelling in the
other. In other words when a car arrives at a
working traffic light, directing it from the
south to the north, the driver travelling in
an east west direction arriving at the same
intersection cannot see the light that should
be directing him across the path of the south-
north driver. Therefore, the driver going from

the south to the north gets the green light,
while the driver moving east-west can see no
red light, because it in not directed in such a
way that he can see it.

And then there is the intersection —Mon-
tagu, Village Road, for example — where
nothing works, and the courtesy of drivers
stopped in three lanes of traffic has to be
relied on to prevent a collision.

Really this is not good enough. It would be
appreciated if someone would at least give an
explanation of what has gone wrong with our
traffic lights. But even more important, some-
one should get to work and repair them
urgently.



THE TRIBUNE



Call for cost
of living wage
increases

EDITOR, The Tribune.

I WORK for a private
company. One that has been
in operation since the 1920s.
It is a family run company
with no public shareholders.
As is the case for a lot com-
panies, our business has
dropped off considerably
over the past couple of years
and we employees are in
constant fear of losing are
jobs and health insurance.
As anyone alive today
knows, these are hard times
we are living in. The cost of
everything has skyrocketed
over the past couple of
years. Everything goes up
except our income! Unlike
government workers who
have the luxury of receiving
increases every couple of
years, we in the private sec-
tor are not all so lucky. Pm
sure there are some compa-
nies that give regular raises,
but the one I work for is not
one of them.

We have people here
who have not had an
increase in take home pay
for decades. One gentleman
hired in 1987 is today still
carrying home the amount
he was hired at. I myself
have not had an increase
since 1997. I have been giv-
en more things to do, more
responsibility, but no raise.
We have received increases
on paper, when Insurance
goes up, but nothing extra
in take home pay. Our boss-
es tell us we can consider it a
raise when our health insur-
ance goes up but they don’t
deduct any more from our
wages.

One of our bosses actual-
ly made the following state-
ments when we ask about
wage increases. “There’s no
point in companies giving
raises because it makes the
cost of everything go up.”
Or, when being told of how
hard his employees have it
trying to save money, one
said: “It’s just as easy for a
man making $100 a week to
save $10 as it is for a man
making $1000 to save $100!”
One day a meeting was
called, nobody knew what it
was about, so when the boss
came into the office one of
the young men asked: “Are





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LETTERS

letters@tribunemedia.net



we getting raises?” Our boss
said: “Yeah, turn around
and bend over!” while he
made a kicking motion with
his foot.

Why continue working for
such a company? Because
many of us will surely lose
our health insurance if we
leave. We have medical con-
ditions that will not be cov-
ered if we have to join
another group. Some of us
have illnesses that will pre-
vent us from getting insur-
ance at all if we leave. We
don’t stay because of our
pension plans either, we
don’t have one!

I say all that to say this.
The Government has
become very proficient at
squeezing Joe Public for
every dime they can get. It’s
now time for the Govern-
ment to ensure that Joe
Public is not financially
obliterated by doing so.
Some employees in the pri-
vate sector are not treated
fairly by their employers.
Government, in my opinion,
must make it law that a
company not giving its
employees raises must give a
cost of living increase at
least biannually. Perhaps

government could give some
incentive to companies to
do so, ie, a reduction in
business license tax for any
company having given raises
that year.

The increase should be
tied to inflation. If inflation
is 2 per cent the raise should
be 2 per cent. This is not a
raise really. All the employ-
ee would be doing is keep-
ing pace with the ever
increasing cost of living. It
should not be possible for a
person to work for years and
years and become poorer
and poorer every year. A
person working for decades
at a company should be able
to progress in life, not
regress. The last time I
received an increase it was
1997. If you figure inflation
averaged 2 per cent per
year, times 14 years, that
amounts to 28 per cent. In
real terms I have received a
28 per cent pay cut since
1997.

We are diligently working
ourselves into poverty! Our
bosses don’t care. Our Gov-
ernment must show that it
cares. I call on the powers
that be to address this wrong
that is being done to
Bahamians.

Nassau,
January, 2011.

Praise for Anglican
bishops converting
to Catholicism

EDITOR, The Tribune.

I commend the three Anglican bishops who converted to

Catholicism on Saturday.

Their act marks the historical beginning of what promises
to be a mass exodus of Anglicans over to the Catholic church.

The movement is being spurred on by the growing accep-
tance within the Anglican communion of female bishops,
practising homosexual clergy, and disagreements over the pri-
macy of Sacred Scripture within the Church.

Sadly, some people want to measure the truth of the faith

by modern society’s standards.

They mistakenly believe that divine Revelation must adapt
itself to the current mentality in order to be credible, instead
of the current mentality converting in the light that comes to

us from on high.

The result is a stripping of the Redeemer of man of his rad-
ical uniqueness, and classifying him as someone who can

be managed and domesticated.

Anglican traditionalist should take heart.

They are always welcome back to the fullness of truth
that resides, with all its pristine beauty and splendour, inside
the Catholic Church. I encourage everyone — including
agnostics, atheists and dissenting Catholics — who are tossed
about by the waves of false doctrines, to climb aboard the
barque of Peter for it will be their only safe haven in these

troubling times.

PAUL KOKOSKI
Canada,
January 16, 2011.

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THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 5



LOCAL NEWS



‘Very productive’
48 hours for ‘Rapid

Strike’ operation

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

RAPID Strike netted seven suspects, five
illegal firearms and more than 100 rounds of
ammunition withon 48 hours, said Commis-
sioner of Police Ellison Greenslade.

Law enforcement officials praised the
Royal Bahamas Police Force's new crime-
fighting operation as successful in getting
illegal firearms and potential offenders off
the streets.

"We had a very productive 48 hours. We
recovered five illegal weapons and over 100
rounds of ammunition. We have seven per-
sons in custody as a result and we are very
optimistic that on Monday we will get some
traction. We are very encouraged by what
has happened thus far," said Mr Greenslade.

Mr Greenslade added that on Thursday
night the operation was able to diffuse a
potentially dangerous situation in the
Carmichael Road area.

"Our officers drove right into an armed
robbery in progress. The assailant had a pis-
tol cocked with live rounds in the chamber
and that could have turned out really bad.

"Fortunately no shots were fired, the man
was arrested, the gun was recovered. We
believe that our response is measured, it
was professional, it is what is required and as
commissioner I am satisfied that everything
is being done properly."

Four persons caught under Rapid Strike
are expected to be arraigned in Magistrate's
Court today on gun crimes.

"We're very pleased with this collaborative
effort and the assistance being provided by
the Office of the Attorney General,” added
Mr Greenslade, applauding officials in the
Attorney General's Office for their new pol-

PRODUCTIVE: Police Commissioner
Ellison Greenslade

icy — which aims to bring those accused of
gun crimes to trial in a matter of weeks — and
co-operation.

Rapid Strike was launched nearly two
weeks ago in a continued effort by the police
to reduce the escalating number of serious
crimes occurring throughout the Bahamas.
Heavily-armed units were deployed to patrol
"hot spot” areas throughout New Provi-
dence and caused 14 arrests in its first 24
hours of operation.

The unit will be concentrating on trou-
blespots and targeted profiles, which include
people suspected of engaging in unlawful
activity such as murder, armed robbery, ille-
gal firearm possession, house break-ins,
Stealing and stabbing.

$21,000 worth of cocaine
and illegal firearm found

POLICE seized $21,000
worth of cocaine and mari-
juana and an illegal firearm
during a search of a home on
Shady Lane.

Officers from the Drug
Enforcement Unit, acting on
information, conducted the
search around 9pm on Satur-
day. When they arrived at the
home, located off Burial
Ground Corner, the officers
heard people inside the resi-
dence talking.

The officers reported they
identified themselves as police
and attempted to gain entry.
When the officers heard
movements inside the home
they entered and discovered
that the occupants had fled
the scene. The DEU searched
the home and found a hand-
gun with an assortment of
ammunition.

Officers also discovered 18
pounds of suspected marijua-
na and half a pound of sus-
pected cocaine with a street
value of $18,000 and $3,000
respectively.

Up to press time no arrests

were made but police say they
are following significant leads
into this matter.

FIREARM ARREST

Meantime police arrested a
21-year-old male resident of
Lobster Avenue around
11.15pm Saturday for alleged-
ly possessing a handgun.

Officers of the mobile divi-
sion were on routine patrol
on Hay Street when they saw
the suspect "acting suspi-
ciously." A subsequent search
of the man allegedly uncov-
ered a handgun with ammu-
nition.

Police also report they
recovered a shotgun hidden
in bushes in Morrisville, Long
Island. The find was made
around 7am on Saturday after
police, acting on information,
searched the bushy area.

Three people were taken
into custody. Police investiga-
tions continue.

STOLEN VEHICLES
RECOVERED
Police also recovered six

stolen vehicles that were
found as officers patrolled the
area of Sir Milo Butler High-
way off Carmichael Road.

Tt was 10 am Saturday when
officers of the Traffic Division
found four Honda model cars
and two Nissan Sentras — all
stripped.

No suspects were taken into
custody.

STOLEN VEHICLES

Police yesterday appealed
for the public's help in locat-
ing the following stolen vehi-
cles: a 2001 silver coloured
right-hand drive Honda
Accord licence plate number
236192 and a 1999 grey
coloured right-hand drive
Honda Accord.

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PAGE 8, MONDAY, JANUARY 31, 2011

THE TRIBUNE



LOCAL NEWS

Phase two of the
house numbering
exercise begins

By KATHRYN CAMPBELL
Bahamas Information Services

THE Government has activated the second
phase of its street naming and house numbering
exercise.

The project is designed to make it easier to
locate businesses and houses throughout New
Providence and is a part of the six-month nation-
al jobs programme.

Delmar Bowe, the Ministry of Public Works
and Transport supervisor, said he pleased with
the progress of the project which began on Janu-
ary 10. He said to date, 1,500 houses and busi-
nesses have been numbered in the exercise which
runs from the East West Highway to Coral Har-
bour. Twenty-four persons are employed on the
house numbering and street naming projects.

Mr Bowe credits the success of the project to
emphasis placed on the importance of clarity,
accuracy and consistency of their job.

“We must be accurate and consistent and take
each day at a time to get things done,” he said.

He explained that once new numbers have been
erected, the old numbers would remain for an
indefinite period of time.

“Our employees compile the data on sight
including the existing number and the new number
that is assigned. All of the utility companies have
to be informed of the changes and until such time

the old numbers will stay on the buildings.

“We distribute flyers to the owners advising
them to make their properties accessible so that
Ministry of Works employees can install the num-
bers. If a resident is not at home and we cannot
access their property we would place the number
on an outdoor wall. Otherwise we would leave
the number and ask the residents to install the
number themselves.”

Mr Bowe said field surveys conducted during
phase one reveal “there were deficiencies to build-
ings that have not yet been numbered and build-
ings that were wrongly numbered in the past”.

Employees assigned to this task will be proper-
ly identified and due care will be taken not to
damage the owners’ property. Employees will
have an identification card to indicate they are a
part of the Ministry of Public Works and Trans-
port’s house numbering team.

The official numbering system is north to south
or east to west with even numbers on the right side
of the street and odd numbers on the left side.



DELMAR BOWE, (far right) project supervisor for the
Ministry of Public Works and Transport’s house num-
bering exercise talks about the project as Valdeshia

Bethel (centre) and Rebecca Russell look on.

COSTA RICA: NETWORK USED FISHERMEN ‘TO SHIP COCAINE’

Patrick Hanna/BIS

SAN JOSE, Costa Rica

COSTA RICAN authori-
ties say they have dismantled
a cocaine smuggling network
that used fishing vessels to
ship drugs from Ecuador and
Colombia through Central
America and into Mexico,
according to Associated Press.

The Security Ministry says
in a Sunday statement that
the Colombian-run network
paid fishermen to haul
cocaine to Guatemala and
Mexico.

The ministry says raids in
the Costa Rican capital of San
Jose and in the Pacific coast
city of Puntarenas were car-

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ried out Saturday. Five
Colombians and a Costa
Rican national were arrested.

Costa Rican officials say
powerful drug cartels are
increasingly using the coun-
try as a transshipment point
for cocaine — much of it ulti-
mately bound for the United
States.

Zz



PROJECT SUPERVISOR Delmar Bowe (far right) gives instructions to John Bannister pictured in hat
and Antoine Minnis who install numbers on a home in Bougainvillea Boulevard, South Beach.




















ASSISTANT COMPTROLLER of Customs, Gary Smith (standing centre) poses with other staff
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homes serving the residents lunch.

By LLONELLA GILBERT
Bahamas Information
Services

CUSTOMS department
staff celebrated Internation-
al Customs Day by serving
lunch to senior citizens at
various homes.

The Assistant Comptrol-
ler of Customs, Gary Smith,
who was helping out at the
Persis Rodgers Home for the
Aged, said serving the senior
citizens lunch has been a tra-
dition for 22 years.

“The staff in the various
sections of Customs donates
the food, and we go to some
12 senior citizens homes
throughout the island of New
Providence where we hon-
our those on whose shoul-
ders we stand by providing
them with lunch,” Mr Smith
said.

“Over the years, some of
them have developed partic-
ular friendships with certain
homes, so some staff mem-
bers choose particular homes
because the people know



Derek Smith/BIS

them; but we also have some
new people onboard and
they are following in the tra-
dition.”

The celebrations started
with a church service at St
Matthew’s Anglican Church
Sunday.

On Saturday there was a
fun day at Customs head-
quarters for children from
various homes.

The World Customs
Organisation was formed in
1947 with 13 European gov-
ernments agreeing to set up
a study group to examine the
possibility of establishing one
or more Inter-European cus-
toms unions based on the
principles of the General
Agreement of Tariffs and
Trade (GATT).

Out of this body the Cus-
toms Co-operation Council
(CCC) was born, being for-
mally established in 1952.
After many years of mem-
bership growth, the CCC
adopted the working name
of World Customs Organi-
sation.

It was at a meeting in 1963
that the date of January
26 was formalised as a
day set aside to honour
and recognise the achieve-
ments of Customs Officers
in their various administra-
tions.

It was called “Internation-
al Customs Day” and
observed to honour long-
serving officers, participation
in community activities, town
meetings, seminars and
workshops to interact with
and inform stakeholders
about relevant Customs mat-
ters including changes in pro-
cedures and generally form
mutual partnerships affect-
ing Global Trade.

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THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 9



Sean Connery immortalised

with sculpture in Estonia

REAL ESTATE:
Preventing
inspection delays

By MIKE LIGHTBOURNE

NO MATTER
how much you
prepare, real
estate closings
almost always take
longer than they
should.

Sometimes
unbearably longer.

Delays could fall
into three major
categories: financ-
ing, legal delays
(sometimes just
getting a simple
sales contract
agreed to) and
possibly inspec-
tions.

Getting estimates and negotiating
repairs can really hold up a transaction,
but there are ways to speed up the
process.

One option is for vendors to procure
a pre-listing inspection and make
repairs before the first potential pur-
chaser sets foot in the home.

However, this can be a costly
expense for vendors, especially when
purchasers may arrange for their own
inspection after making an offer, and
there can often be great differences in
estimated costs.

A better alternative is for the BREA
listing agent to walk through the home
with the vendors, noting the age and
the condition of major components of
the home and securing estimates for
potential repairs.

Vendors may not have to fix the
problems, but having an idea of the
cost of repairs will help them price the
home fairly, as well as reduce the time
necessary for purchasers to negotiate
the costs.

This is an excellent preventative and
proactive step towards a successful
and, hopefully, speedy closing.

(Mike Lightbourn is president of
Coldwell Banker Lightbourn Realty).






By JARI TANNER
Associated Press

TALLINN, Estonia (AP) —
He's been honoured with an
Oscar and British knighthood.
As of Thursday, Sean Connery
can count a bronze sculpture in
the Estonian capital among his
tributes.

The bust of Scotland's most
famous actor was unveiled by
British Ambassador Peter Carter
outside Tallinn's Scottish Club,
whose members include Estoni-
ans enamored with Scotland and
a handful of expatriate Scots.

"Sir Sean Connery is, without
a doubt, an icon,” Carter told
dozens of invited guests. "He is
variously known as James Bond
or the sexiest man of the century.
He's a great British actor, a great
Scot actor and a great symbol for
Scotland."

The Scottish Club, which start-
ed as a whiskey sampling society
in the early 1990s, got the idea
of honouring "Scots who have
made a difference" a few years
back, said president Mart
Haamer. It already has a bust of
18th century Scottish poet
Robert Burns.

Haamer read a brief statement
from the 80-year-old actor, who
won an Academy Award for a
supporting role in "The Untouch-
ables."

"One cannot help but be flat-
tered by the Scottish Club's ges-
ture. My best wishes to the mem-
bers of the club and to all the
people who made this possible,"
the statement said.

A vocal supporter of the pro-
independence Scottish National
Party, Connery lives in the
Bahamas and has said he will not
live in Scotland again until it
gains independence from the

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BRITISH AMBASSADOR Peter Cater looks at a bronze bust of Oscar-winning actor Sean Connery, a prominent Scottish nation-
alist, after unveiling it at the Scottish Club in Tallin, Estonia. The bust was created by Estonia's most famous sculptor Tiiu Kir-
sipuu, and is intended to mark the year Sir Sean turned 80. The club itself was first founded in 1993 as a whisky society, but
became associated with prominent politicians and top business figures. Based in the heart of Tallinn's Unesco heritage site,
its staff serve guests dressed in kilts, while the carpet is tartan. (AP)

United Kingdom.

However, Carter noted that Sh VY
"the fact that he has accepted are our news

knighthood, suggests that he is
also a great supporter of the
queen."

Connery was knighted in 2000.

The 10,000 ($14,000) bust by
Estonian sculptor Tiiu Kirsipuu
was financed through private
donations and depicts a bearded
Connery at a mature age.

"T think the older he gets, the
more charming he becomes,"
Kirsipuu said.

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps

you are raising funds fora
good cause, campaigning
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.



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PAGE 10, MONDAY, JANUARY 31, 2011

THE TRIBUNE



LOCAL NEWS



The PLP ‘would agressively
renegotiate’ the BTC sale

FROM page one

advice of the PLP and sells to
Cable and Wireless, we put
Cable and Wireless on notice
of our central position that
the sale to Cable and Wire-
less is not in the national
interest, and when we
return to Government we
will re-examine all of the
provisions of the deal and
we will aggressively rene-
gotiate the terms of the
agreement that we deem
repugnant to the national
interest,” Mr Christie said.

The opposition leader
said his party believes this
course of action is in accor-
dance with the wishes of the
country and is consistent
with the PLP's core values
and constitution.

He said the party will

aggressively explore lawful
ways and means by which
Bahamian ownership of
BTC can be enhanced,
through the offering of
shares to the Bahamian
public, with appropriate
controls to prevent the con-
centration of shares into the
hands of one group or fam-
ily, whether Bahamian or
foreign.

“We believe that BTC
should then be opened to
competition and the
telecommunications market
liberalised as soon as is rea-
sonably practicable there-
after. A BTC, owned by a
wide cross-section of the
Bahamian community,
could purchase the best
management expertise and
technology to provide the
Bahamian and foreign busi-

ness community a competi-
tive world class and afford-
able service like the Bank
of The Bahamas,” Mr
Christie said.

If Mr Christie wins the
election and proceeds with
this course of action, it
would not be the first time
the PLP renegotiated a con-
tract between the Govern-
ment of the Bahamas and
a private investor.

The PLP found the terms
of the Hawksbill Creek
agreement, which delegated
the powers of immigration
control to a private compa-
ny, to be repugnant to the
national interest and nego-
tiated that change which
came into effect in 1969.

The result was that the
Grand Bahama Port
Authority returned immi-

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gration control to the
Bahamian people.

“We made the same prin-
cipled point to the develop-
ers of the then proposed
Clifton Cay, and when we
came to office we changed
the deal in the national
interest. We are doing the
same now with Cable and
Wireless,” Mr Christie said.

He said the PLP does not
agree with, and will not sup-
port in the House of
Assembly and the Senate,

the sale of any of the shares
in BTC to Cable and Wire-
less.

“We do not believe that it
(Cable and Wireless) is a
trustworthy, reliable and
capable strategic partner for
the Bahamas and BTC. We
call on the government to
cease and desist in pursu-
ing the sale as they have
announced it,” Mr Christie
said.

Among the items that the
party now finds repugnant

is the notion that the FNM
administration has agreed
that the Government of
The Bahamas is to become
a minority shareholder in
BTC but will still have to
fund part of the pension lia-
bilities of the company in
the first instance by advanc-
ing $39 million from the
treasury, with a continuing
obligation to fund future
losses.

¢ SEE PAGE TWO

Christie: government
must be careful
about changing GB
economic structure

FROM page one

announced the opposition
will be organising a group
at Parliamentary level to
begin informal discussions
with interested parties in
Grand Bahama about the
tax exemptions that will
expire under the provisions
of the Hawksbill Creek
Agreement.

The agreement was
signed in 1955 between the
government and Freeport
developer, the late Wallace
Groves, to establish a city
and free trade zone on
Grand Bahama Island.

Some of the provisions of
the agreement, most notably
the real property tax exemp-
tion, expire in 2015.

“Our committee ought to
speak with the Grand
Bahama Port Authority and
also the Grand Bahama
Chamber of Commerce and
other groups, including
church leaders and civic
organisations. We need to
hear your views. When we
come to government, I
intend to hit the ground run-
ning,” Mr Christie said.

Prime Minister Hubert
Ingraham was in Grand
Bahama on December 18
when he spoke about the

fact that certain tax exemp-
tions will expire under the
provisions of the agreement.

He said the Grand
Bahama Port Authority has
asked his government to
begin discussions on the
question of what the posi-
tion of the government will
be on those exemptions and
whether they should be
renewed.

Mr Ingraham said he did
not want to speak to the
organisation about the mat-
ter until the authority got
“ts house in order.”

However, Mr Christie
said the PLP holds a differ-
ent view and a different
approach in this matter.

“The thing is, it is simply
bad manners not to talk to
someone who is a major
investor in your country. But
I am sure that you are not
surprised at that. That is the
FNM’s way, talk to people
any kind of way and any
kind of how.

“The PLP would, if it
were the government, at the
very least begin discussions
with the Grand Bahama
Port Authority at least at the
technical level so that we
can understand the issues,
the revenue implications and
the implications to the
future for investment in



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Grand Bahama,” the oppo-
sition leader said.

Mr Christie said his initial
thought is that the potential
real property tax revenue
that would come from the
expiry of the exemptions
would be a great benefit to
the treasury and to the peo-

le.

“These therefore have to
be studied carefully. But the
economic structure and sys-
tem in Freeport have bene-
fitted our country greatly
and we must be careful not
to kill the goose that laid the
golden egg,” he said.

CYCLIST
MOWED
DOWN AND
KILLED

FROM page one

arm. The victim was taken to
the local clinic for treatment,"
said Sgt Skippings.

The other shooting hap-
pened around 2.30am yes-
terday in Nassau in the area
of East and Lewis Streets.

Police were told that a
man, wearing a yellow shirt
and blue jeans, had fired
the shots and was seen run-
ning from the area with a
handgun.

Officers of the Tourism
Police Unit responded and
saw aman fitting the
description running
through McCullough Cor-
ner. The officers gave
chase, but the culprit
escaped them.

While at McCullough
Corner, police spoke with a
27-year-old man of Fourth
Terrace, in Centreville,
who said that while walking
on McCullough Corner he
heard gunshots and realised
that he had been shot in
one of his wrists and shoul-
der.

The victim was taken to
hospital by EMS where he
was last reported to be in
stable condition.

A short while later police
received information that
the culprit was seen leaving
the area in a Honda car.
Officers of Rapid Strike,
patrolling Taylor Street,
spotted the vehicle and
stopped the car. A 33-year-
old man of Foxdale was
taken into custody.

Police investigations con-
tinue.
THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 11





Lessons from Malaysia
insight

WORLD VIEW

By SIR RONALD
SANDERS

(The writer is a Consul-
tant and former
Caribbean diplomat)

I am writing this com-
mentary in the airport in
Kuala Lumpur, the capital
of Malaysia. To describe
Malaysia as a vibrant, ener-
getic country would be an
understatement.

It is fast becoming yet
another Asian Tiger join-
ing the economies of Sin-
gapore, South Korea and
Thailand.

Yet, it wasn’t so long
ago that Malaysia was
regarded as a poor second
cousin to other Asian
states behind which it
lagged economically.

The country has oil. But
that natural resource —-
important though it is — is
not the main reason for
this country’s transforma-
tion in the last 40 years into
a middle-income country
with a multi-sector econo-
my.

Prime Minister Najib
Tun Razak credits the
country’s transformation to
the investment of its rev-
enues from oil and gas in
two areas — education and
infrastructural develop-
ment

Malaysia now has a
highly competent, skilled
work force and significant
physical infrastructure
including highways along
which its production is
moved to its port and air-
port, and its people easily
transported for work and
leisure.

Apart from oil and gas,
electronics is its biggest
export and employer of
both its skilled and semi-
skilled population.

The Prime Minister is
aiming to make Malaysia a
high-income country by
2020, and it looks set to
achieve it.

The government and the
private sector have joined
in an investment pro-
gramme designed to pro-
duce millions of new jobs
and to upgrade the skills
of the existing work force.

While the government is
the facilitator of the pro-
gramme, the bulk of the
investment is coming from
the private sector, mostly
local businessmen.

They have set themselves
on a course to establish
high technology industries,
medical technology and
pharmaceuticals.

Malaysia has recovered
well from the global finan-
cial crisis which started in
late 2008.

While in 2009 decreasing
demand for consumer
goods slowed economic
growth, the economy has
bounced back in 2010 and
the foreign reserves of the
Central Bank are healthy.

Kuala Lumpur is a hive
of economic activity. Its
roads are clogged with traf-
fic, mostly one person toa
car — an indication of years
of state-subsidised gaso-
line, investment in roads
and good salary levels.

The skyline is dominat-
ed by structures immedi-
ately reminiscent of New
York and Toronto — twin
towers, not unlike the tar-
gets of 9/11 and a tower
that resembles the CN
Tower in Toronto almost
exactly.

The shops range from up
market designer names —
almost all of them, Gucci,
Louis Vitton, name it and
it is there — to market malls
which also have designer
name brands for items
from handbags to clothing,
except these are fakes
made mostly in Korea, but
enjoying a brisk trade

among Malaysian locals
and foreigners alike.

English is the common
language of the ethnic
Malays and the Chinese
community that have lived
in Malaysia for decades.

It helps greatly in doing
business.

And, while it might have
been expected that China
would be the dominant
investor country, it is still
the United States that is
the source of the largest
cumulative investment, fol-
lowed by Germany and the
United Kingdom.

The Prime Minister
sports a large emblem of
the number 1 on his lapel.
So do most of the minis-
ters and government
employees.

“One” signifies “One-
Malaysia”, an attempt by
the present government to
make long-term residents
of Malaysia, particularly
the Chinese, feel that while
they may not be Malay,
they are Malaysian in a
country whose society is
one.

There is good reason for
this. The Chinese are
industrious in addition to
being well educated and
well trained.

They have made a signif-
icant contribution to
Malaysia’s development
and the present govern-
ment is trying to stem a
tide of Chinese emigration
which deprives the country
of business talent and cap-
ital.

Years of preferences to
the Malay population dis-
advantaged the Chinese
who had to perform better
to maintain their place in
the society.

Now the effort is build a
“One-Malaysia” society
that is inclusive, keeps tal-
ent at home, and is focused
on a strong economy.

Malaysia’s population is
also over 60 per cent Mus-
lim, but that does not stop
it from being open to busi-

ANNOUNCEMENT



SIR RONALD SANDERS

ness from Europe and
North America. As the
Chairman of a large con-
glomerate put it, “Muslims
yes, Money makers too.”

The country’s member-
ship of the Commonwealth
is part of a valuable her-
itage.

English Common law
and a parliamentary system
similar to the countries of
the Commonwealth
Caribbean and Britain
make it easy for investors
from the US and the UK
to do business in the coun-
try.

And, if the high occu-
pancy levels in the many
top class hotels in the cen-
tre of City are anything to
judge by, both investors
and foreign contractors are
taking a keen interest in
Malaysia.

Sixty per cent of Malaysi-
a’s 27 million people are
connected to the Internet,
and Google Inc, the owner
of the world’s most popular
search engine on the Inter-
net, has just announced an
investment of millions of
dollars as part of its focus
on south-east Asia.

While foreign invest-
ment is welcome, and sev-
eral foreign companies are
being awarded large infra-
structural projects, the gov-
ernment is keen to pro-
mote local direct invest-
ment. It has announced
plans to boost local direct
investment through busi-
ness linkages and domes-
tic outsourcing.

There is little doubt that
Malaysia will achieve its

SPECIALTY CLINIC AT
DOCTORS HOSPITAL

As we continue to grieve the sudden death of
our colleaque, friend and physician, we wish to
thank you all for your cards, telephone calls
and sympathy. We appreciate your kindness
and wish you all God's richest blessings. Thank

you.

This is to advise all patients of Dr. Willard
JJ. Thompson who consulted with him at
the Specialty Clinic at Doctors Hospital;
that alternate specialist Orthopaedic care is
now available at the clinic.

Please contact the Sessional Clinic at

302-4684 for further

information or

email: infom@doctorshosp.com

DOCTORS HOSPITAL

Hilts For 109

wii doc tanhasp con



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=

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i



MALAYSIA: Kuala Lumpur is a hive of economic activity.

ambition of making its peo-
ple high-income earners.

Even if there is slippage
from the projected date of
2020, it will be pretty close
to it.

The secret of its success
has been the effort by suc-
cessive governments to use
revenues for huge invest-
ments in education and the
upgrading of skills so as to
take advantage of internet
broadband technology for
the services sector and
manufacturing industries.

Malaysia and its neigh-
bour Singapore are Com-
monwealth countries that
are doing very well in glob-
al economic terms which
shows that developing
Commonwealth countries
can learn from each oth-



“Razak credits the country’s
transformation to the invest-
ment of its revenues from oil
and gas in two areas — educa-
tion and infrastructural

development.”



er’s experiences in the
development models they
adopt.

Caribbean and Pacific
Commonwealth countries
should invite a combina-
tion of government and
business people from
Malaysia and Singapore to
share the lessons they’ve

learned and the skills
they’ve developed. Com-
monwealth countries of the
South have shown they can
be as successful as the rich
countries of the North.

Responses and previous
commentaries at:
www.sirronaldsanders.com

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PAGE 14, MONDAY, JANUARY 31, 2011 THE TRIBUNE



INTERNATIONAL NEWS

Fire, explosions



SMOKE BILLOWS from a military

arms depot after a fire in Maracay,
Venezuela, Sunday, Jan. 30, 2011. A fire
set off a series of explosions at a military
arms depot, killing at least one person
and leading authorities to evacuate about

at Venezuela arms
depot; one killed



A SOLDIER stands guard outside a military arms depot after a fire in
Maracay, Venezuela, Sunday, Jan. 30, 2011. A fire set off a series of
explosions at a military arms depot, killing at least one person and lead-
ing authorities to evacuate about 10,000 people from the area. (AP)

Over 99 per cent
in Southern Sudan

JUBA, Sudan

SOUTHERN Sudan's referen-
dum commission said Sunday that
more than 99 percent of voters in
the south opted to secede from the
country's north in a vote held ear-
lier this month, according to Asso-
ciated Press.

The announcement drew cheers
from a crowd of thousands that
gathered in Juba, the dusty capital
of what may become the world's
newest country.

The weeklong vote, held in ear-
ly January and widely praised for
being peaceful and for meeting
international standards, was a con-
dition of a 2005 peace agreement
that ended a north-south civil war
that lasted two decades and killed
2 million people.

The head of the commission's
southern bureau, Justice Chan
Reec Madut, said Sunday that vot-
er turnout in the 10 states in the
south was also 99 percent. He said
only some 16,000 voters in the
south chose to remain united with
northern Sudan, while 3.7 million
chose to separate.

In northern Sudan, 58 percent
of voters chose secession, said
Mohamed Ibrahim Khalil, chair-
man of the referendum commis-
sion. He said some 60 percent of
eligible voters participated.

Southern Sudanese voters in
eight foreign countries over-
whelmingly supported secession,
he said, with 99 percent support
for secession among the 97 per-
cent of voters who participated.

In the United States, he said,
more than 99 percent of the 8,500
southerners who cast votes chose
secession.



MARACAY, Venezuela

A FIRE and a series of
explosions tore through a
military arms depot Sun-
day, killing one person and
leading authorities to evac-
uate thousands of people,
according to Associated
Press.

About 10,000 residents
fled their homes in areas
up to several miles (kilo-
meters) from the site as the
burning ammunition pro-
duced powerful blasts, offi-
cials said.

The cause of the pre-
dawn fire was unclear.
Hours after the initial
explosions, faint booms
could still be heard in the
distance as clouds of white
smoke rose from the area
alongside hills in Maracay,
60 miles (100 kilometers)
west of Caracas.

"It's under control but
there is still risk," Presi-
dent Hugo Chavez said as
he visited firefighters and
other officials in Maracay.
He noted that the blasts
hurled some explosives
such as grenades long dis-
tances into surrounding
communities, and urged
caution.

Officials were searching
nearby neighborhoods for
any stray explosives,
Aragua state Gov. Rafael
Isea told the state-run
Venezuelan News Agency.

Chavez praised officials
for a swift response. "An
event like this could have
produced ... a much bigger
tragedy,” he said.

Chavez wondered aloud



what might have caused it,
saying: "A fire there is odd,
and at that hour."

Vice President Elias Jaua
said earlier on state televi-
sion that authorities were
investigating — and sug-
gested they weren't ruling
out sabotage.

"We can't rule out any
hypothesis since Venezuela
is a country threatened by
strong international pow-
ers," Jaua said. "We know
of groups that act in a crazy
manner within our territo-
ry, but it can't be deter-
mined yet if it was pro-
voked or if it was an acci-
dent.” He did not elabo-
rate.

One woman in a house
was killed by a piece of
shrapnel that wounded her
in the abdomen, the Attor-
ney General's Office said
in a statement.

Three people were
injured in traffic accidents
amid the chaos as people
fled, Isea said.

"It seemed like they
were bombing us," said
Yandry Rey, 30, who lives
with her husband, a mili-
tary officer, and two chil-

Abyei,” he said while addressing
African leaders at an African

10,000 people from the area. (AP)



the munitions storage area.

She said the explosions
shook her house and woke
her up, and that they fled
with their children. Rey
said she saw a “ball of fire"
when she opened the door.

Hours later, she and sev-
eral other people who fled
the military housing com-
plex were resting on the
edge of a ditch in the
shade. Rey's daughter still
wore her nightshirt.

Another woman, 27-
year-old Genesis Baricot,
said her husband returned
to their house and saw that
the blasts had blown off
their front door and caused
part of the roof in the
kitchen to collapse.

She said she didn't yet
know where the family
would go.

"What are they going to
do with us?" she asked.

Soldiers and police
blocked exits on a major
highway that runs nearby.

Thousands of evacuees
were taken to a sports sta-
dium, a military barracks
and a park, emergency
management director Luis

dren in housing adjacent to

Aa “i
Diaz told state television.
Chavez said the evacuees
included Chinese and Rus-
sians who were working on
projects in the area.

He said the Russians
were building a rifle facto-
ry.
He did not elaborate on
what the Chinese were
involved in.

National Guard Maj.
Gen. Luis Motta
Dominguez said in remarks
broadcast by Union Radio
that authorities were wait-
ing for the smaller blasts
to die down and that what
was left was “a lot of
smoke."

State TV showed fire-
fighters working to extin-
guish what remained of the
fire.

Cavim, Venezuela's mil-
itary arms manufacturer,
said in a statement that the
explosions began at 4:45
a.m. local time (4:15 a.m.
EST; 0915 GMT).

The fire burned four
artillery-munitions storage
sites out of 20 that Cavim
maintains in Maracay, Gen.
Cliver Alcala Cordones
told the state news agency.



SOUTHERN SUDANESE men line up to casts their votes at a polling center in Juba,
Southern Sudan, in this Jan. 10, 2011 file photo. The Southern Sudan Referendum
Commission said Sunday over 99 percent of the people in the south voted for seces-
sion in its first official primary results since the vote was held earlier this month. (AP)

the spontaneous dancing that fol-



isd

A SOUTHERN SUDANESE woman stands in a crowd during the announce-
ment of preliminary referendum results in Juba, southern Sudan on Sunday,
Jan. 30, 2011. Referendum officials indicated that nearly 99 per cent of all
voters cast ballots in favor of southern independence. Southern Sudan will
remained united with the north until the expiration of Comprehensive Peace

Agreement in July 2011. (AP)

"These results lead to a change
of situation," said Khalil after he
read the results. "That change
relates only to the constitutional
form of relationship between north
and south. North and south are
drawn together in indissoluble geo-
graphic and historic bonds."

Referendum commission offi-
cials did not announce an overall
percentage total for all votes cast.
The commission's website said
Sunday that 98.8 percent of vot-
ers chose secession, but noted that
the figure may change.

If the process stays on track,

Southern Sudan will become the
world's newest country in July.
Border demarcation, oil rights and
the status of the contested region
of Abyei still have to be negotiat-
ed.

U.N. chief Ban Ki-moon praised
the conduct of the election, but
said much still needed to be done.

"We are still very much con-
cerned about post-referendum
issues — border security, citizen-
ship, wealth sharing, demarcation,
popular consultations in South
Kordofan and Blue Nile States,
and most importantly the status of

Union summit in Addis Ababa,
Ethiopia. "Consolidating the peace
in North and South Sudan will
require statesmanship, wisdom,
patience and the consistent
engagement and support of the
international community."

Southern Sudanese president
Salva Kir also gave remarks at the
results ceremony, speaking mostly
in Arabic.

"We are still moving forward,"
Kiir said in English. "The struggle
continues."

Kur thanked Sudanese President
Omar al-Bashir for his leadership
and for "making peace possible."

Kiir said the south will declare
independence on July 9, but not
before.

"We are not going to put down
the flag of Sudan until July 9," he
said.

The event marked the release
of the first official primary results
from the self-determination vote.
The results will not be finalized
until February.

But Sunday's announcement did
not stop people from celebrating.

"I'm very happy because today
we have determined our destiny,"
said Anna Kaku, 42, who dressed
up for the ceremony and joined



lowed Kiir's address. "We fought
for so many years, and now we
have done this peacefully."

your

news

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds fora
good cause, campaigning
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.

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THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 15



LOCAL NEWS



+o

KIEV TY OVE EYEE NVR



THE TEAM: The Executive, Management and Leadership Team of
the Force pose for a photo at the end of their Annual Planning Cer-

emony.

Defence Force
jets planning
for modern era

Three-day seminar at
Coral Harbour Base

MEMBERS of the Royal
Bahamas Defence Force’s
executive, management
and leadership team kicked
off the year with a three-
day planning seminar at
the Coral Harbour Base.

On the heels of Com-
modore Roderick Bowe’s
first year anniversary at the
helm, the team converged
to execute the first phase
of planning aimed at mov-
ing the 30-year-old force
into a modern era.

The Seminar took a look
at the RBDF’s overall mis-
sions, vision and objectives,
which have been in exis-
tence since its inception,
determining their relevance
to today’s tasking and chal-
lenges.

Specific departments also
presented their individual
plans for the future based
on their leader’s overall
strategic intent and also
were empowered to field
additional recommenda-
tions from the participants.

Last year, the adminis-
tration of the force con-
centrated on the morale
and welfare of its men and
women. The focus for 2011
will now shift to encompass
training and re-education.
With 32 persons presently
on study leave, training in
arenas as piloting, culinary



arts, construction, plump-
ing and electrical engi-
neering technology to psy-
chology and computer sci-
ence, the force says it is
well on the way to realising
a more skilled organisa-
tion,

There are also six offi-
cers away at the United
States Coast Guard officer
candidate school and the
Britannia Royal Naval Col-
lege for training, and a
number of others benefit-
ting from a range of IMET
(International Military
Education and Training)
and other overseas Courses
around the world.

Representatives from
partner agencies like the
Police, Immigration, Cus-
toms, Fisheries, BASRA,
and the United States
Coast Guard were also
invited to discuss their
roles and methods of
improved connectivity for
2011. Media training, divi-
sional system review, inspi-
rational speakers and spir-
itual charges were also
incorporated.

The planning concluded
with a breakfast with Prime
Minister Hubert Ingraham,
Minister of National Secu-
rity Tommy O A Turn-
quest and the Secretary to
the Cabinet Anita Bernard.

PRIME MINISTER Hubert Ingraham, Minister of National Security
Tommy Turnquest and Secretary to the Cabinet Anita Bernard on a
short tour of the RBDF base.



SENIOR OFFICERS listen to presentations during the seminar.

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$12m ‘hostile PGR renee

THE TRIBUNE

—



MONDAY,

* BISX-listed food retail group’s chair says largest share-
holders ‘definitively rejected’ Finlayson offer, as would leave
minority ‘at mercy of unproven management’

* Proposed $1.50 a share tender a 47%, or $4m, premium

to Friday close

* Potential purchaser believes ‘prospects are pretty high’

By NEIL HARTNELL
Tribune Business Editor

AML Foods’ chairman last
night branded the $12 mil-
lion offer by City Markets
principal, Mark Finlayson, to
acquire 51 per cent majority
control of the BISX-listed
food retail group as “not in
the best interests of all share-
holders”, telling Tribune
Business it would leave them
“at the mercy of an untried
and unproven” management
team.

CITY MARKETS
TARGETS
$10-S12M

FOR STORES

* $6m already raised for JFK
Drive location

* Freeport ‘key’ to return to
profit, with firm still on
track for $120m sales

By NEIL HARTNELL
Tribune Business
Editor

CITY MARKETS will
need to invest between $10-
$12 million to get two new
stores, on JFK Drive in Nas-
sau and the Queen’s High-
way in Freeport, opera-
tional, Tribune Business was

SEE page 3B
























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

Describing the announce-
ment by Mr Finlayson and
his Trans-Island Traders
vehicle, which last Novem-
ber acquired the 78 per cent
majority stake in City Mar-
kets’ Bahamas Supermarkets
parent for just $1, as effec-
tively the first “hostile
takeover bid” seen in the
Bahamian capital markets,
Dionisio D’Aguilar said he
was “amazed” that no formal
approach had been made to
AML Foods’ Board.

Trans-Island Traders is

ne

TANUARY 31,



“AML FOODS’ CHAIRMAN
Dionisio D’Aguilar

offering what it describes as a

50 per cent premium to AML

Foods’ existing share price,
although the $1.02 close on

SEE page 4B

WORKER TRAINING: CHAMBER
"KICKS BACK INTO GEAR’

By NEIL HARTNELL
Tribune Business Editor

THE Bahamas Chamber of
Commerce and Employers
Confederation (BCCEC) is
aiming to “kick back into gear”
on its workforce initiatives
through the imminent hiring of
an education and training man-
ager, a senior official describing
the shortage of trained Bahami-
an workers as “the single
biggest limiting factor in our
growth across the board”.

Robert Myers, chair of the
BCCEC’s training and educa-
tion division, said that while the
restructuring caused by the
Chamber/Employers Confed-
eration merger had “set us back
five to six months”, the
prospective education and
training manager had been
identified, and talks over terms
and salary were now being
finalised.

“With that, we should see the
initiative kick back into gear,”
Mr Myers told Tribune Busi-
ness. “We’ve done well, but did
have some delay because of the
shift to the BCCEC. That took
a bit of time in that we had
some changes with regard to
the structure.

“There’s a lot happening, and
it will pick up momentum
towards the end of the first and
quarter and the second quar-
ter.”

Praising the ongoing Cham-
ber Institute seminar series as
“one of the most powerful ini-
tiatives” undertaken by the
BCCEC, providing for career,
business and vocational devel-
opment, Mr Myers said a sur-
vey would soon be launched to

assess where companies saw
labour force “deficiencies’, and
where they needed help in edu-
cating and training workers.
He added that April 6 had
been “tentatively” pencilled in
as the date when the Chamber
would stage a Business Educa-
tion Seminar in conjunction
with the US Embassy, while
further initiatives in alliance
with the Association of Char-
tered Certified Accountants
(ACCA) were also planned.
Describing workforce edu-
cation and training, and result-
ing labour productivity, as
“hugely important”, Mr Myers
told Tribune Business: “It’s the
single largest limiting factor in
our growth. We just have huge
problems trying to get trained,
efficient, consistent employees.
“It’s a big, big problem. It’s
limiting growth all over the

SEE page 3B



2011

* Finlayson says combined entity to gross $150m in

food sales per annum alone
* Says ‘definitely not hostile’

* Hoping for Commission approval in seven-10 days
* But analyst sceptical, saying at least $4 per share

needed

By NEIL HARTNELL
Tribune Business Editor

A COMBINED City Mar-
kets-AML Foods would have
just a 25 per cent market
share of the Bahamian food
retail market, Mark Finlayson

AUTO SECTOR
FEARS RISE
OVER FALSE
INVOICING

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

CONCERNS are grow-
ing in the Bahamian auto-
motive industry about some
car dealers who are alleged-
ly offering imported vehi-
cles at what are considered
by many to be impossibly
reduced prices.

Ben Albury of Bahamas
Bus and Truck, and Fred
Albury of Executive
Motors, both told Tribune
Business they believe some
car dealers may be submit-
ting false invoices to the
Customs Department and
clearing their vehicles with-
out paying the proper duty.

This then enables the
salesmen to attract cus-
tomers by offering substan-

SEE page 5B

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told Tribune Business last
night, adding that together the
two companies would gener-
ate an annual $150 million in
food sales alone.

Speaking to Tribune Busi-

SEE page 5B

Charles drive.

A SHOPPER looks at what’s on offer inside Robin Hood on Prince

=ager

BREITLING








Felipé Major/Tribune staff

Robin Hood targets
30k vistors for Jan

Set to ‘top out’ in 50,000-60,000 range
on monthly customer count

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

ROBIN HOOD’S new
Prince Charles Drive store is
on target to attract 30,000 cus-
tomers this month, and is set
to “top out somewhere in the
50,000 to 60,000” range, with
the groundbreaking for an

associated 44,000 square foot
retail plaza on the same site
set for March.

Sandy Schaefer, Robin
Hood’s president and co-own-
er, and developer of the plaza,
said it was scheduled to be
constructed before year-end.
It is expected to contain a

SEE page 6B

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PAGE 2B, MONDAY, JANUARY 31, 2011 THE TRIBUNE



COMPANY NEWS
Earnings Releases:

Focol Holdings (FCL) released its unaudited
financial results for the quarter ended October
31, 2010.

FCL reported net income of $4.8 million, an
increase of $261,000 or 5.7 per cent compared
to $4.6 million in the same period the previous
year.

Revenues of $68.5 million were up by $8.9
million or 15 per cent in comparison to the
prior period.

The cost of sales also increased by $8.6 mil-
lion or 18 per cent to $56.3 million, resulting in
gross profits of $12.2 million that increased by
$320,000 quarter-over-quarter.

Earnings per share for the quarter were
$0.13, compared to $0.12 in the comparative
period.

Total assets and liabilities at October 31,
2010, stood at $140.5 million and $25.4 million
respectively, compared to $136.8 million and
$23.7 million at July 31, 2010.

IT WAS another slow week of trading in the
Bahamian stock market. Investors traded in three
out of the 24 listed securities, with no advancers
and two decliners.

EQUITY MARKET

A total of 10,023 shares changed hands, rep-
resenting a slight increase of 3,745 shares com-
pared to the previous week's trading volume of
6,278 shares.

Finance Corporation of the Bahamas (FIN)
was the volume leader, trading a volume of 6,000
shares to close unchanged at $6.51.

FamGuard Corporation (FAM) was the big
decliner in the week, trading a volume of 1,000
shares and falling $0.60 to see its stock close at
$5.47, a new 5-week low.

Commonwealth Bank (CBL) traded a volume
of 2,223 shares to see its stock price decrease by
$0.04, closing at $6.81.

BOND MARKET
No notes traded during the week.

EQUITY MARKET - TRADING STATISTICS

Week ending 28.01.11

BISX SYMBOL CLOSING PRICE WKLY PRICE CHANGE VOLUME YTD PRICE CHANGE
AML $1.04 $- 0 7.22%

BBL $0.18 $- 0 0.00%

BOB $4.90 $- 0 0.00%

BPF $10.63 $- 0 0.00%

BSL $5.01 $- 0 0.00%

BWL $2.70 $- 0 0.00%

CAB $10.21 $- 0 -2.39%

CBL $6.81 $-0.04 2,223 2.71%

CHL $2.40 $- 0 0.00%

CIB $9.39 $- 0 0.00%
CWCB $2.18 $0.11 0 19.13%

DHS $1.60 $- 0 0.00%

FAM $5.47 $-0.60 1,000 -9.88%

FBB $2.17 $- 0 0.00%

FOL $5.48 $- 800 0.37%

FCLB $1.00 $- 0 0.00%

FIN $6.51 $- 6,000 -9.96%

ICD $7.40 $- 0) 0.00%

JSJ $9.82 $- 0) 0.00%

PRE $10.00 $- 0 0.00%
INTERNATIONAL MARKETS

FOREX Rates COMMODITIES

Currency Weekly % Change Commodity Weekly % Change
CAD 0.9998 -0.73 Crude Oil 99.31 1.79
GBP 1.5781 -1.42 Gold 1,319.00 -1.82
EUR 1.3617 -0.05

LennoxPaton

LEGAL SOLUTIONS. OFFSHORE FOCUS,

ANNOUNCEMENT

We are delighted to announce our continued growth and expansion
by the opening of our new office at Lyford Cay, New Providence, The
Bahamas, to serve our clients,

CONTACT DETAILS

Brian C. Simms QC, Senior Partner
Arthur Seligman, Partner

Lyford Cay Manor
Lyford Cay, West Bay Street
P.O. Box N-4875
Nassau, The Bahamas

Tel: +1 (242) 362-4783
Fax: +1 (242) 362-4190

Website: www.lennoxpaton.com
Email: info@lennoxpaton.com

aan | nv ie | ontn | IY
THE TRIBUNE

MONDAY, JANUARY 31, 2011, PAGE 3B



‘No answer’ for BEC’s woe over transmission

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

THE Minister of the Environ-
ment “does not have an answer”
as to why initial steps on
installing a transmission line
capable of carrying the required
amount of energy from Abaco’s
new power plant to residents and
businesses are being taken now,
with the plant itself is in the final
testing phase.

Earl Deveaux confirmed in a
meeting with the Abaco business
community and residents in
Marsh Harbour on Friday that
BEC’s Board has “authorised a
tender for the completion of an
upgraded 60 MW transmission
line from Wilson City to Marsh
Harbour”, with expectations that
the power line could be com-
pleted by May 15 this year.

This comes over six months
after the Wilson City power plant

FROM page one

place. We’ve got Baha Mar coming on line; God
knows where they’re going to get the people.
Kerzner is challenged by the same problem.”
Worker productivity, and the Bahamas’ inabil-
ity to produce a labour force where all partici-
pants are attuned to the demands of the modern
workplace, have been highlighted repeatedly in
the studies conducted by Bahamian-based econo-
mist Ralph Massey. The issue becomes more
urgent every year when 5,000 Bahamian students
leave high school, some 3,000-4,000 of them going

directly into the workforce.

Analysing the 2006 BGCSE maths and English
grades among New Providence public school stu-
dents, Mr Massey found that In English, 44 per cent
of New Providence public high school students
passed, with 56 per cent failing. A total of 17 per
cent "both failed and were functionally illiterate",
meaning they could not read or hear, then com-

municate thoughts coherently.

And it was worse for maths, where some 46 per
cent - almost half of all New Providence public
high school students who sat the 2006 BGCSE
exam - were found to be "functionally illiterate",
meaning they did not know the difference between

addition and multiplication.

Mr Myers, who is president of Caribbean Land-
scape and also co-chair of the Bahamas Landscape

FROM page one

told last night, with the company
poised to return to profitability
once it “fixes” its three Freeport
stores.

Mark Finlayson, City Mar-
kets principal, told this newspa-
per that $6 million had already
been raised to convert the for-
mer Burns House property on
the corner of JFK Drive and
Bethel Avenue, next to Royal
Bank of Canada, into a replace-
ment store for the former Oakes
Field location.

“Right now, we have two of
them finalised,” Mr Finlayson
said of new City Markets loca-
tions. “That was the difficult part
of it. We did not want to do it all
out of our own pocket, and Col-
ina put a group together to get
this financed.

“We already have $6 million
on the JFK property. Part of
that’s our money and part of that
Colina raised for us. With a
group like Colina, it’s not diffi-
cult.”

Mr Finlayson said Superval-
ue from the US would be assist-
ing with the layout and design
of the JFK Drive store, adding
that a concrete shell needed to
be put in, along with the correct
fixtures and outfitting.

He added that the supermar-
ket chain had been planning to
construct two City Market Super
Centres, one on the East-West

had initially been scheduled for
completion, as it now enters a
final “reliability testing” phase
before it comes on stream to pro-
vide the envisaged enhanced
power supply.

The plant’s four 12 megawatt-
generating units will ultimately
be capable of producing 48
megawatts of power. Current
transmission lines are capable of
carrying 14 to 16 megawatts of
power, and Abaco’s present
power demands are around 11
megawatts at daily peak, said Mr
Deveaux. In the summer, peak
demand can reach closer to 25
mega watts.

Abaco residents yesterday
questioned why BEC is only
moving ahead with the tendering
process for the transmission line
at this late stage, and expressed
fear that the tourism-dependent
island will again suffer from the
disastrous load shedding and
power blackouts that saw resi-

dents and visitors faced with hav-
ing to go without power on a dai-
ly basis for several days over
summer 2010.

One resident, who declined to
be named, said: “BEC is com-
pletely and utterly incompetent.
Before they even broke ground
in Wilson City they had the facts.
They knew the new plant would
generate up to 48MW. They
knew the old power lines would
not be able to handle much more
than 12MW. Also, they said
when they began the power plant
it would be ready before sum-
mer last year. Here we are now
looking at it maybe nearing com-
pletion when this summer starts.
And that is just maybe!”

Initial pronouncements by
BEC were that the Wilson City
plant would be fully operational
by summer 2010. The Govern-
ment has pointed to the Judicial
Review of the decision to go
ahead with the plant as a signifi-

WORKER TRAINING

Association (BLA), told Tribune Business that
the certification programmes the latter had estab-
lished, where Bahamians in the sector were encour-
aged to obtain certification in posts such as horti-
cultural and landscape maintenance technicians,
were acting as a testing ground for wider initiatives.

“Tt’s not such a problem in industries like bank-
ing, where you have got college graduates and
people with degrees,” Mr Myers said of the need
for a trained workforce. “What we’re finding in the

service sector is, because there are very few if any

programmes, nothing is coming out. In the horti-
cultural sector, before we started the BLA, where
were people going to get the training to be horti-
culturists? You couldn’t.”

Mr Myers said both the BLA and BCCEC focus
was to “empower the people to empower the com-
panies. That’s the Key; to let them earn certification,

become knowledgeable employees, and let them

empower business”.

The absence of available, trained Bahamian
workers linked directly to Immigration and the
level of demand by companies for work permits. If
Bahamian workers were not trained and unavail-

able, Mr Myers said, the likely consequence was an

CITY MARKETS

Highway in Nassau, the other
on the Queen’s Highway in
Freeport, but if his plans to
acquire a 51 per cent majority
stake in AML Foods came to
fruition, the former would not
be needed due to its proximity to
the latter’s Solomon’s Super-
Centre format in the Town Cen-
tre Mall.

Acknowledging that the East-
West Highway plan had been
“put on the shelf” for the time
being, Mr Finlayson said City
Markets was still pursuing plans
to turn the old Butler & Sands
building on Freeport’s Queen’s
Highway into a Super Centre.

Analysing the investment
required for that and the JFK
Drive location, Mr Finlayson

increase in the unemployment rate, which in turn
was tied to the crime rate.

told Tribune Business: “I think if
you're talking about the one in
Nassau and the one in Freeport,
yow’re talking in the range of
$10-$12 million, minimum.
We’re trying to raise $6 million
for both locations.”

Mr Finlayson said the super-
market chain was still on track to
do $120 million in sales during its
first year under new ownership,
with its three Freeport stores the
key to profitability.

“We've got to get Freeport
fixed. As soon as we get
Freeport back, we’ll be back in
the black. Freeport is key,” he
said. “We've done a pretty good
job so far, and are ahead of
where we thought we were going
to be. Just based on City Mar-
kets, I think we’re going to hit
around $120 million in sales for
the first 12 months.”

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Jewels by the Sea, a chain of Fine Jewelry stores in the Cable Beach
district of N.P. is looking for:

SALES ASSOCIATES

This is a SALARIED position, not a commission based structure.
Our compensation plan rewards team performance and individual

excellence.

Key Functions

e Building Relationships with Customers
e Matching Customer Needs with Goods & Services Available
e Ensuring Post-Purchase Satisfaction
e Maintaining an Organized, Well Arranged & Customer Friendly

Showroom

Qualifications & Experience
© 19 years of age or older

e Previous experience in some Customer Service Field
e High School Diploma or equivalent required

e Basic Computing skills

Skills & Abilities

e Excellent Communication Skills
e Professional Demeanor

© Self-Motivated

Qualified applicants should email

resume & cover letters to:
jbsjobs2010@gmail.com

Only applicants who are short-listed will be contacted.

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

NOTICE

cant cause of delay in the pro-
ject.

In his statement in Marsh Har-
bour, Mr Deveaux said he had
travelled to Abaco to provide an
update to residents on the sta-
tus of generation at the Wilson
City plant, and “the plans going
forward to address the peak
demand period for the summer”.

He apologised to residents for
“the nightmarish experiences suf-
fered in the past, including the
recent nuisances over the past
few weeks” as it relates to power
supply.

“Like you, we are disappoint-
ed in the performance of BEC
and its reliability,” he said.

According to Mr Deveaux,
recent power outages in Abaco
were attributable to “attempts
to service Marsh Harbour from
Wilson City and the old power
plant interchangeably, and when
switching between generators at
Wilson City”.

Position Available

Pursuant to the provisions of Section 137 (4) (a), (b)
and (c) of the International Business Companies Act,
2000, notice is hereby given that: -

(a) EGBAS INC. is in dissolution;

(b) The date of commencement of the dissolution
is the 19th day of January, A.D., 2011 and

(c) the Liquidator is C.B. Strategy Ltd., of 308
East Bay St.

C.B. Strategy Ltd.
LIQUIDATOR

























































New office of international company seeks a Chief Executive Officer. The
position requires direct reporting to the Board of Directors, entails
responsibility for local operations and finance and requires a great
degree of integrity, while maintaining utmost confidentiality.

The position pays a very competitive salary. The successful applicant
Must:

-Be extremely organized, disciplined, mature and attentive to detail;
«Hold a degree in either Accounting, Business or Finance with some
knowledge of law or have at least 10 years experience in private banking;
-Have experience in foreign exchange and metals markets and have
worked in a trading room environment;

-Possess proficient computer skills;

«Have excellent communication skills with written and oral fluency in
English and Arabic (fluency in additional languages would be a plus);

-Be able to work long hours and weekends as required.

Vole pte te Melt meee elm miele ea
2011 to Position Available, P.O. Box N-3937

THE NATIONAL INSURANCE BOARD

VACANCY NOTICE N
ty.

[*
‘ance

The National Insurance Board (N1R) invites applicanans from suitably qualified persons to
fill the pasinan of ASSISTANT MANAGER - INSTRU ICTIONAL DESIGNER &

FACILITATOR, in the Beeard’s Tr alg Department,

To be responsible for design, implementation and facilitation of instructional and e-learning
programs, and other technical materials that provide performance based skills training fot
potential mew and existing staff of the NIB.

RESPONSIBILITIES
Determine appropriate instructional design stritemes bor adult learning
the organizational shjectives

r that would meet

Design and implement high qualin ¥ internal programs using curncula and testing formar.
Dhow ch op materials using multimedia learning environment inte grating computer hase
trining, web dese, and metrics se ting that evaluate content chfecnvencss,

Ensure that programs and materials effecovely meee the learning objectives

Desion and facilinate orientation programs.

Design, manage and update new e-learning training programs.

Facilitate training courses thar ate creative and responsive to the training, needs identified
ancl are suitable to a nutnibser of cifferent learning: seyles.

Research and develop training material which will include writing session details /
presenters notes 80 that the material can be presented by yourself and ogher truiners,
and delivery mediums to

Continuously assess and report effectiveness of m arcrials

determine learning and cost effectiveness to the organization.

Manage and naincain the Hasis Skills Program.
Works closely with the Training Department team to avoid communication barriers.

J ‘kK
Applicants should have a Bachelor's Degree from an accredited College or University in
Communication, Educanon or Human Resource Development and five (5) years experience.
Certification in Business Education would be a plus
IREMENT
® Excellent course design & development skills

* Excellent oral and written skills,
Strong interpersonal and team work skills.

Experience in leaching instructional e-learning design and training
Proven experience in software cools: Plash, Photoshop, Dreamwaver, PowerPoint, MS

Word, 5-Forge
APPLICATION

Interested persons may apply by submitting a completed application form, alone with the
necessary proof of qualifications on or before Friday, February 4, 2011, to the:

Senior Manager
Human Resources Administration
THE NATIONAL INSURANCE BOARD
Clifford Darling Complex
P.O. Box NW-7508
Wassau, Bahamas




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 Cyclist mowed down and killed V olume: 107 No.57MONDAY, JANUARY 31, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER SUNNY AND NICE HIGH 80F LOW 69F I N S I G H T S EEPAGE12B S P O R T S Forty years of missed opportunities SEESECTIONE our de Bahamas A CYCLIST was mowed down and killed after beingc hased by the driver of a sil ver coloured Pontiac on East Street. Witnesses saw the victim, a 5 1-year-old male resident of Sunlight Village, being pursued by the driver moments b efore he was hit and left lying on the side of the road. The driver allegedly tried t o leave the scene of the crime b ut crashed into another car, a 2001 Ford Taurus, which was travelling south on East Street. Police have classified the death as a murder. A 44-yearold male of Lucky Hart Cor ner is assisting police with their investigation. The victims body is to be identified this morning, police said, declining to release fur ther details until this process has been complete. Press Liaison Officer Sergeant Chrislyn Skippings said the incident occurred around 10.35pm on Friday when police received infor mation that a man was struck off his bicycle while riding at the juncture of East Street and Sunlight Village. R esponding officers found the man, clad in khaki pants and a khaki shirt, lying on the side of the street. W itnesses told police the victim was riding his bicycle north on East Street when the d river of a silver coloured Pontiac vehicle struck him from his bicycle. It is further reported that t he driver of the Pontiac was observed chasing the male on the bicycle prior to him being struck," said Sgt Skippings. Police are also investigating two shootings that occurred over the weekend. Around 4am yesterday, police received information of a shooting in Lower Bogue, Eleuthera. Officers were told that a man was at home when he was wakened by another male inside his home armed with a handgun. "It is reported that the cul prit fired gunshots at the male which resulted in him receiving gunshot injuries to the Car c hased do wn 51-y ear-old victim 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 10 F e l i p M a j o r / T r i b u n e s t a f f 1 4TH ANNU AL C ACIQUEAWARDS WHAT A SHOW: Pictured above is some spectacular entertainment from Friday nights 14th Annual Cacique Awards. Among the win ners on the night was Ali Bain (inset with Minister of Tourism Vincent Vanderpool-Wallace SEE PAGETWO I F the PLP should win the next general election, it will aggressively renegotiate the terms of the sale of BTC which it deems repugnant to the national interest, opposition leader Perry C hristie said at the partys G rand Bahama conclave o ver the weekend. If the FNM administrat ion proceeds against the SEE page 10 PLP WILL A GGRESSIVELY RENEGOTIATE BTCSALE IF ELECTED By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net LEGAL experts are disappointed in the small number of accused criminals who have used the plea bargaining system since its legislation was passed in 2008. Government hoped the availability of plea bargaining would have prompted defendants to plead guilty to their charge and receive a recommendation to serve less than the maximum sentence. However Attorney General John Delaney told The TriOPPOSITION leader Perry Christie said while he feels the revenue that would come from the expi ration of tax exemptions under the Hawksbill Creek Agreement would be a great benefit to the public treasury and to the Bahamian people, a government must be careful about changing the economic structure of Grand Bahama so it does not kill the goose that laid the golden egg. Mr Christie made the statement during a PLP conclave in Grand Bahama over the weekend where he SEE page 12 SEE page 10 DISAPPOINTMENT OVER SMALL NUMBER OF DEFENDANTS USING PLEA B AR GAINING SYSTEM CHRIS TIE: GOVERNMENT MUS T BE CAREFUL ABOUT CHANGING GRAND B AHAMA ECONOMIC STRUCTURE

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HOTELIERS, chefs, musicians, writers and airlines were among those recognised at the 14th Cacique Awards, where the countrys youth received words of encouragement from Lifetime Achievement Award winner, Majestic Tours proprietor, William Bill Saunders. Addressing young Bahamians, Mr Saunders told them they can do anything they can dream of if they have a vision. The awards, which recognise individuals who have made a contribution to tourism in The Bahamas, were held at the Rainforest Theatre at the Wyndham Nassau Resort on Friday. Ahead of the awards it was announced that Mr Saunders was to be the recipient of the Lifetime Achievement Award, while George Markantonis, President and Managing Director of Kerzner International (Bahamas operates the Atlantis resort, was recognised as Hotelier of the Year. In addition to these two top awards, awards were announced in categories including Sustainable Tourism, Handicrafts, Man ager of the Year and Cruise Line of the Year. Accepting his award, Mr Saunders told young people: You can be whatever you aspire to be, providing you have the dedication and the vision to make it happen. You dont have to be born into a family of wealth. I came from a poor family but I knew what I wanted to do at a point and time in my life. I aspired to do it. I had a vision for it, and I had the dedication. Tonight I am happy to be here at 81, a Cacique. My blessings are from my heavenly father above. They are not only pertaining to my health, but they pertain to my success. And my message to the young people tonight is you can do it. Have the vision and the dedica tion, and you move forward with your life. Mr Markantonis said everybody in the tourism sector, especially over the last two years, deserves an award for their hard work. He said whatever he and his team at Kerzner International Bahamas have done so far, will be done even better in the coming years. There is one way we are going to win, he said. If we really believe in this country, we will succeed from tourism across the board, and thats because we are always going to be more aggressive and more creativet han anybody else, and on top of that, we are going to do every thing in a much more energetic fashion. Others recognised during the evening were recently-departed tourism contributors, among them Sir Clement T Maynard, the former Minister of Tourism for whom the Ministers Award for Hospitality is now named. Tribute also went out to former Cacique sound engineers Lavard Curtis and Clarence Nat Williams, who died in a plane crash in October, 2010. Winners in all categories were: Sustainable Tourism Stuart Cove, Nassau Handicraft Dorothy Miller, Long Island Transportation SkyBahamas Sports, Leisure & Events Justin Sands, Abaco Human Resources Development Marilyn Brennen, Lyford Cay Club Creative Arts Bahamas National Youth Choir, Nassau Ministers Award for Hospitality Ali Bain, Nassau Lifetime Achievement William Bill Saunders Peoples Choice Award, Gospel Shaback, Nassau Peoples Choice Award, Sec ular KB and The Sting, Nassau S upervisor of the Year Vivienne Haynes, Kerzner Interna tional Bahamas Sales Executive of the Year Molly McIntosh, Green Turtle Cay Club and Marina Employee of the Year Micklyn Lightbourne, Sandals Royal Bahamian Spa and Resort Chef of the Year Michael Adderley, Kerzner International Bahamas Manager of the Year Kressville P. Ritchie, Sandals Royal Bahamian Spa and Resort Hotelier of the Year George Markantonis, Kerzner International Bahamas Tour Operator of the Year CheapCaribbean.com Cruise Line of the Year Royal Caribbean International Travel Writer of the Year Thomas Haines, AOPA Maga zine Airline of the Year JetBlue Airways L OCAL NEWS P AGE 2, MONDAY, JANUARY 31, 2011 THE TRIBUNE 14TH ANNUAL CACIQUE AWARDS G EORGE MARKANTONIS President and Managing Director of K erzner International (Bahamas Atlantis resort, was recognised as Hotelier of the Year. F elip Major / Tribune staff W ILLIAM BILL SAUNDERS r eceives the Lifetime Achievement Award from Tourism Director G eneral David Johnson. Derek Smith /BIS SHABACK won the Peoples Choice Award, Gospel. THE Bahamas National Youth Choir won the Creative Arts award

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T HE FNM must tell the people of Grand Bahama how much of the $63 mil l ion in tax revenue it received from the sale of BORCO to Buckeye Part ners will be invested in the e conomically-strapped i sland, PLP deputy leader Philip Brave Davis said at a PLP conclave on thei sland over the weekend. Mr Davis said considering the poor financial future facing the island, all of the money should go to the people of Grand Bahama. The sale of BORCO was the biggest sale of any company in the history of the Bahamas. The deal, which was for the sale of a portion of BORCO to Buckeye Partners, amounted $1.36 billion. This sale, my fellow PLPs, will give the govern ment around $63 million in tax revenue. The question you should ask the government is how much of this $63 million will go to the people of Grand Bahama? What happened to the tens of millions in stamp tax that was collected from the sale of Vopak? Why arent all those millions of dollars being spent right here where it is most needed? It is needed here in Grand Bahama. It is needed now, Mr Davis said. H e said if he should become the next deputy Prime Minister the PLPw ill move Grand Bahama forward and make Grand Bahama grand again. Programmes We will reinstitute and create powerful and farreaching educational, civic and community programmes to address grow ing social concerns.We commit tonight to help those that are destitute find employment and restore hope. We will empower our young men and women, the deputy leader said. The PLP, Mr Davis said, will aggressively promote Grand Bahama as a place for commercial and tourist development. We will place a major focus on attracting offshore financial services companies and e-business to these shores. We will make Grand Bahama grand again, he said. T HE bickering and disu nity within the ranks of PLPs in Grand Bahama should stop immediately so the party can concentrate o n winning the next genera l election, opposition leader Perry Christie said a t a PLP conclave in Grand B ahama over the weekend. H e said this was no time for there to be divisivenesso r disunity within the ranks o f PLP, and instead they must be cohesive and united. The PLP of Grand Bahama has to get out of the disunity business, he said. The bickering and inf ighting has got to stop. T here is just too much of i t, especially here in Grand B ahama. We need to work t ogether. After all, we are joined together in a common cause and we all know who our common political enemy is. So why cant we keep those things that unite us at the forefront of our m inds and lay aside the t hings that divide us? We have to unite to f ight. Believe me, my b rothers and sisters, there i s no other way to succeed, there is no other way to win. T he opposition leader said party members need to put the party machinery in Grand Bahama, in the whole northern Bahamas, in a state of readiness. We need now to put it in a state of high alert. We are entering now the final p hase of preparation for t he next general election. A s the party in opposition, w e start off with a strateg ic disadvantage: we do not k now when the next general election will be held. Since we dont know that, and wont know that, it behooves us all to get ready from now. We need t o ensure that when the bell i s sounded, we will find o urselves in full readiness f or battle. We need to proceed on the premise that the next general election will be called sooner rather than later. If time proves us wrong and the election is actually c alled later rather than s ooner we will have lost nothing by having prepared f or an early contest, Mr C hristie said. L OCAL NEWS T HE TRIBUNE MONDAY, JANUARY 31, 2011, PAGE 3 T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Christie:Stop PLP bickering in Grand Bahama Davis: FNM must say how much of $63m will be invested in Grand Bahama T T h h e e b b i i c c k k e e r r i i n n g g a a n n d d i i n n f f i i g g h h t t i i n n g g h h a a s s g g o o t t t t o o s s t t o o p p . T T h h e e r r e e i i s s j j u u s s t t t t o o o o m m u u c c h h o o f f i i t t , e e s s p p e e c c i i a a l l l l y y h h e e r r e e i i n n G G r r a a n n d d B B a a h h a a m m a a . Perry Christie P LPS a t Saturday nights party conclave in Grand Bahama. PLP Deputy demands ans w er s over tax revenue fr om sale of BORCO PLP DEPUTY LEADER Philip Brave Davis speaks at Saturdays conclave on Grand Bahama.

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EDITOR, The Tribune I WORKfor a private c ompany. One that has been in operation since the 1920s. It is a family run companyw ith no public shareholders. As is the case for a lot companies, our business has dropped off considerably o ver the past couple of years and we employees are in constant fear of losing are j obs and health insurance. A s anyone alive today k nows, these are hard times we are living in. The cost of everything has skyrocketed o ver the past couple of years. Everything goes up e xcept our income! Unlike government workers who have the luxury of receiving i ncreases every couple of years, we in the private sect or are not all so lucky. Im sure there are some companies that give regular raises,b ut the one I work for is not one of them. W e have people here who have not had an i ncrease in take home pay for decades. One gentleman hired in 1987 is today still carrying home the amount he was hired at. I myselfh ave not had an increase s ince 1997. I have been giv en more things to do, more responsibility, but no raise. We have received increaseso n paper, when Insurance goes up, but nothing extra in take home pay. Our boss-e s tell us we can consider it a raise when our health insurance goes up but they dont deduct any more from ourw ages. O ne of our bosses actual ly made the following statements when we ask aboutw age increases. Theres no point in companies giving raises because it makes the cost of everything go up.O r, when being told of how hard his employees have it trying to save money, one said: Its just as easy for a man making $100 a week to save $10 as it is for a man making $1000 to save $100! One day a meeting was called, nobody knew what it was about, so when the boss came into the office one of the young men asked: Are we getting raises? Our boss said: Yeah, turn around and bend over! while he made a kicking motion with h is foot. W hy continue working for such a company? Because m any of us will surely lose o ur health insurance if we l eave. We have medical conditions that will not be covered if we have to joina nother group. Some of us have illnesses that will prevent us from getting insurance at all if we leave. We dont stay because of our pension plans either, we dont have one! I say all that to say this. T he Government has b ecome very proficient at squeezing Joe Public fore very dime they can get. Its n ow time for the Government to ensure that Joe Public is not financially obliterated by doing so. Some employees in the private sector are not treated fairly by their employers.G overnment, in my opinion, must make it law that a company not giving its employees raises must give ac ost of living increase at l east biannually. Perhaps government could give some incentive to companies to d o so, ie, a reduction in b usiness license tax for any company having given raises that year. T he increase should be tied to inflation. If inflation is 2 per cent the raise should be 2 per cent. This is not a r aise really. All the employee would be doing is keeping pace with the ever i ncreasing cost of living. It s hould not be possible for a p erson to work for years and years and become poorer and poorer every year. A p erson working for decades at a company should be able t o progress in life, not regress. The last time I received an increase it was 1 997. If you figure inflation averaged 2 per cent per y ear, times 14 years, that amounts to 28 per cent. In real terms I have received a2 8 per cent pay cut since 1997. W e are diligently working ourselves into poverty! Our b osses dont care. Our Government must show that it cares. I call on the powers that be to address this wrong that is being done toB ahamians. Nassau, January, 2011. E DITORIAL/LETTERS TO THE EDITOR P AGE 4, MONDAY, JANUARY 31, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONE Switchboard (News, Circulation and Advertising Call for cost of living wage increases LETTERS l etters@tribunemedia.net Courts cooperating with the police EDITOR, The Tribune. I commend the three Anglican bishops who converted to Catholicism on Saturday. Their act marks the historical beginning of what promises to be a mass exodus of Anglicans over to the Catholic church. The movement is being spurred on by the growing acceptance within the Anglican communion of female bishops, practising homosexual clergy, and disagreements over the pri m acy of Sacred Scripture within the Church. Sadly, some people want to measure the truth of the faith by modern societys standards. They mistakenly believe that divine Revelation must adapt itself to the current mentality in order to be credible, instead of the current mentality converting in the light that comes to us from on high. The result is a stripping of the Redeemer of man of his rad ical uniqueness, and classifying him as someone who can be managed and domesticated. Anglican traditionalist should take heart. They are always welcome back to the fullness of truth that resides, with all its pristine beauty and splendour, inside the Catholic Church. I encourage everyone including agnostics, atheists and dissenting Catholics who are tossed about by the waves of false doctrines, to climb aboard the barque of Peter for it will be their only safe haven in these troubling times. PAUL KOKOSKI Canada, January 16, 2011. Pr aise for Anglican bishops con v er ting to Catholicism OPERATION Rapid Strike, launched on the night of January 20 by Commissioner of Police Ellison Greenslade, is starting to pay dividends as police target prolific offenders. As crime continues to escalate, police are confident that with the cooperation of the c ourts they can make a tremendous difference by taking repeat offenders out of circulation. An investigation of most crimes committed today reveals that they involve persons with long rap sheets accused of murder, attempted murder, break-ins and numerous other skirmishes with the law all out on bail awaiting their day in court. The police are starting to round them up, and with the coop e ration of the courts, will get them before Justice as quickly as possible. Mr Greenslade has said that the police are very pleased with the assistance being provided by the Office of the Attorney General and for its new policy of bringing those accused of gun crimes before the courts in a matter of weeks. It is not unusual to hear a discouraged police officer, shrugging his shoulders in defeat, complain that as soon as the police take an offender off the streets, some lawyer gets the courts to grant him bail, and the police chase starts all over again. The police are getting tired of chasing the same old law breakers. It is hoped that the courts will get the message and, instead of being a part of the problem, will now make every effort to work with the police for the safety of the community. Magistrates can now stop their ears to the bail pleas of the lawyers. It is only commonsense that it serves no purpose to return prolific offenders to the community. In fact it is forcing them back into crime. They can only survive if they can find employment. But who is going to employ anyone who is out on bail for murder, attempted murder, gun possession or stealing? Not being able to earn an honest living, they cannot supply food for their table, nor find the down payment for their lawyer. Crime is their only profession. It is the only profession that they know of that brings returns, if they can escape the bullet of a r ival. How many of those persons, now deceased, would still be alive today if they were behind bars awaiting trial, instead of on the streets preying on the public? Among the homicides that we report are men on bail, gunned down by another, also on bail. While awaiting trial they are busy settling old scores. A mother said to us recently after one s uch killing, that if it were her son, she would insist that he be kept behind bars until his case was called at least in jail she would know that he was safe. Many offenders laugh and brag about how quickly certain lawyers can spring them from jail. It is no wonder that they are not attracted to the new plea bargaining system, which became law in 2008. As long as they can get long stretches of freedom, hoping that the court system will get so bogged down that their case eventually will be forgotten, they wont be overly anxious to confess their sins and negotiate their prison time. However, with speedier trials, there is no longer an excuse for bail, but more incentive for them to sing and avoid court. Last year there were only two criminal courts. By next week there should be four. "With the immediacy of a trial, that tends to concentrate the mind and people will take opportunities to plead guilty or come to an arrangement by which they can pay for their crime," said Attorney General John Delaney. Meanwhile, the police are back on the streets working hard to make them safe for law-abiding citizens. These non-functioning traffic lights throughout the island are a serious traffic hazard. Despite the complaints of the public, there seems to be no solution. When some of t he lights are repaired, the repair lasts two weeks at the most. There are lights that can be seen by motorists travelling in one direction, but not by motorists travelling in the other. In other words when a car arrives at a working traffic light, directing it from the south to the north, the driver travelling in an east west direction arriving at the same intersection cannot see the light that should b e directing him across the path of the southnorth driver. Therefore, the driver going from the south to the north gets the green light, while the driver moving east-west can see no red light, because it in not directed in such a way that he can see it. A nd then there is the intersection Montagu, Village Road, for example where nothing works, and the courtesy of drivers stopped in three lanes of traffic has to be relied on to prevent a collision. Really this is not good enough. It would be appreciated if someone would at least give an explanation of what has gone wrong with our traffic lights. But even more important, some o ne should get to work and repair them urgently. Non-functioning traffic lights

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POLICE seized $21,000 w orth of cocaine and marijuana and an illegal firearm during a search of a home onS hady Lane. Officers from the Drug Enforcement Unit, acting on information, conducted thes earch around 9pm on Satur day. When they arrived at the home, located off Burial G round Corner, the officers heard people inside the resi dence talking. T he officers reported they identified themselves as police and attempted to gain entry. When the officers heard movements inside the home they entered and discovered that the occupants had fledthe scene. The DEU searched the home and found a hand gun with an assortment of ammunition. Officers also discovered 18 pounds of suspected marijua-na and half a pound of suspected cocaine with a street value of $18,000 and $3,000 respectively. Up to press time no arrests were made but police say they a re following significant leads into this matter. F IREARM ARREST Meantime police arrested a 21-year-old male resident of Lobster Avenue around1 1.15pm Saturday for alleged ly possessing a handgun. Officers of the mobile divi s ion were on routine patrol on Hay Street when they saw the suspect "acting suspi-c iously." A subsequent search of the man allegedly uncov ered a handgun with ammunition. Police also report they recovered a shotgun hidden in bushes in Morrisville, Long Island. The find was made around 7am on Saturday after police, acting on information, searched the bushy area. Three people were taken into custody. Police investigations continue. STOLEN VEHICLES RECOVERED Police also recovered six stolen vehicles that were f ound as officers patrolled the area of Sir Milo Butler High way off Carmichael Road. I t was 10 am Saturday when officers of the Traffic Division found four Honda model cars and two Nissan Sentras alls tripped. No suspects were taken into custody. STOLEN VEHICLES Police yesterday appealed f or the public's help in locating the following stolen vehi cles: a 2001 silver coloured right-hand drive Honda Accord licence plate number 236192 and a 1999 grey coloured right-hand drive Honda Accord. LOCAL NEWS THE TRIBUNE MONDAY, JANUARY 31, 2011, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net RAPID Strike netted seven suspects, five illegal firearms and more than 100 rounds of ammunition withon 48 hours, said Commis-s ioner of Police Ellison Greenslade. Law enforcement officials praised the Royal Bahamas Police Force's new crimefighting operation as successful in getting illegal firearms and potential offenders off the streets. "We had a very productive 48 hours. We r ecovered five illegal weapons and over 100 r ounds of ammunition. We have seven persons in custody as a result and we are very o ptimistic that on Monday we will get some t raction. We are very encouraged by what h as happened thus far," said Mr Greenslade. Mr Greenslade added that on Thursday night the operation was able to diffuse ap otentially dangerous situation in the Carmichael Road area. "Our officers drove right into an armed robbery in progress. The assailant had a pistol cocked with live rounds in the chamber and that could have turned out really bad. "Fortunately no shots were fired, the man w as arrested, the gun was recovered. We b elieve that our response is measured, it w as professional, it is what is required and as commissioner I am satisfied that everythingi s being done properly." F our persons caught under Rapid Strike are expected to be arraigned in Magistrate's Court today on gun crimes. "We're very pleased with this collaborative effort and the assistance being provided by the Office of the Attorney General," added Mr Greenslade, applauding officials in the A ttorney General's Office for their new policy which aims to bring those accused of g un crimes to trial in a matter of weeks and c o-operation. R apid Strike was launched nearly two w eeks ago in a continued effort by the police t o reduce the escalating number of serious c rimes occurring throughout the Bahamas. Heavily-armed units were deployed to patrol "hot spot" areas throughout New Provi dence and caused 14 arrests in its first 24 hours of operation. The unit will be concentrating on trou blespots and targeted profiles, which includep eople suspected of engaging in unlawful activity such as murder, armed robbery, ille gal firearm possession, house break-ins, stealing and stabbing. $21,000 w or th of cocaine and illegal f ir earm found ery productive 48 hours for Rapid Strike operation P RODUCTIVE: P olice Commissioner Ellison Greenslade

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B y LLONELLA GILBERT Bahamas Information Services CUSTOMS department staff celebrated International Customs Day by serving lunch to senior citizens at various homes. The Assistant Comptrol ler of Customs, Gary Smith, who was helping out at the Persis Rodgers Home for the Aged, said serving the senior citizens lunch has been a tradition for 22 years. The staff in the various sections of Customs donates the food, and we go to some 12 senior citizens homes throughout the island of New Providence where we honour those on whose shoul ders we stand by providing them with lunch, Mr Smith said. Over the years, some of them have developed particular friendships with certain homes, so some staff members choose particular homes because the people know them; but we also have some new people onboard and they are following in the tradition. The celebrations started with a church service at St Matthews Anglican Church Sunday. On Saturday there was a fun day at Customs head quarters for children from various homes. The World Customs Organisation was formed in 1947 with 13 European gov ernments agreeing to set up a study group to examine the possibility of establishing one or more Inter-European customs unions based on the principles of the General Agreement of Tariffs and Trade (GATT Out of this body the Customs Co-operation Council (CCC mally established in 1952. After many years of membership growth, the CCC adopted the working name of World Customs Organisation. It was at a meeting in 1963 that the date of January 26 was formalised as a day set aside to honour and recognise the achievements of Customs Officers in their various administrations. It was called Internation al Customs Day and observed to honour longserving officers, participation in community activities, town meetings, seminars and workshops to interact with and inform stakeholders about relevant Customs matters including changes in pro cedures and generally form mutual partnerships affect ing Global Trade. L OCAL NEWS P AGE 8, MONDAY, JANUARY 31, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By KATHRYN CAMPBELL Bahamas Information Services THE Government has activated the second phase of its street naming and house numbering exercise. The project is designed to make it easier to locate businesses and houses throughout New Providence and is a part of the six-month national jobs programme. Delmar Bowe, the Ministry of Public Works and Transport supervisor, said he pleased with the progress of the project which began on January 10. He said to date, 1,500 houses and businesses have been numbered in the exercise which runs from the East West Highway to Coral Harbour. Twenty-four persons are employed on the house numbering and street naming projects. Mr Bowe credits the success of the project to emphasis placed on the importance of clarity, accuracy and consistency of their job. We must be accurate and consistent and take each day at a time to get things done, he said. He explained that once new numbers have been erected, the old numbers would remain for an indefinite period of time. Our employees compile the data on sight including the existing number and the new number that is assigned. All of the utility companies have to be informed of the changes and until such time the old numbers will stay on the buildings. We distribute flyers to the owners advising them to make their properties accessible so that Ministry of Works employees can install the numbers. If a resident is not at home and we cannot access their property we would place the number on an outdoor wall. Otherwise we would leave the number and ask the residents to install the number themselves. Mr Bowe said field surveys conducted during phase one reveal there were deficiencies to buildings that have not yet been numbered and buildings that were wrongly numbered in the past. Employees assigned to this task will be properly identified and due care will be taken not to damage the owners property. Employees will have an identification card to indicate they are a part of the Ministry of Public Works and Transports house numbering team. The official numbering system is north to south or east to west with even numbers on the right side o f the street and odd numbers on the left side. Phase two of the house numbering exercise begins PROJECT SUPERVISOR Delmar Bowe (far right and Antoine Minnis who install numbers on a home in Bougainvillea Boulevard, South Beach. D ELMAR BOWE, ( far right) project supervisor for the Ministry of Public Works and Transports house numbering exercise talks about the project as Valdeshia Bethel (centre Patrick Hanna /BIS CUSTOMS DEPT STAFF TREAT SENIOR CITIZENS TO LUNCH ASSISTANT COMPTROLLER of Customs, Gary Smith (standing centre members from the Customs Department, the Persis Rodgers Home for the Aged staff including F rances Ledee, administrator, (standing far right Thursday, January 26. Staff from the Bahamas Customs Department visited 12 senior citizens homes serving the residents lunch. Derek Smith /BIS S AN JOSE, Costa Rica COSTA RICAN a uthorities say they have dismantleda cocaine smuggling network that used fishing vessels to ship drugs from Ecuador and C olombia through Central America and into Mexico, according to Associated Press. T he Security Ministry says i n a Sunday statement that the Colombian-run network paid fishermen to haulc ocaine to Guatemala and Mexico. The ministry says raids in t he Costa Rican capital of San Jose and in the Pacific coast city of Puntarenas were carr ied out Saturday. Five C olombians and a Costa Rican national were arrested. Costa Rican officials say p owerful drug cartels are increasingly using the country as a transshipment point f or cocaine much of it ultimately bound for the United States. COSTA RICA: NETWORK USED FISHERMEN TO SHIP COCAINE

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INTERNATIONAL NEWS THE TRIBUNE MONDAY, JANUARY 31, 2011, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The Mercedes-Benz C-ClassYour most enjoyable drive ever.The Mercedes-Benz C-Class is a pleasure tobehold offering a new interpretation of driving pleasure. Its taut lines lend it an a ir of effortless superiority while the wide radiator grille and distinctive rear section announce a vehicle with a real presence and dynamic personality. Few cars can compete with its ability to adjust so many facets of its character from the interior to the drive technology so quickly and precisely in response toexternal conditions and your own particular needs. The key to this flexible response is the standard-fit Agility Control Package which includes selective damping. The interior offers noticeably more space and a more distinctive atmosphere tosuit your taste. As you will see, the C-Class is the perfect embodiment of the Mercedes-Benz philosophy.Tyreflex Star MotorsWulff Road, P. O. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 Fax 242.323.4667OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY. B y JARI TANNER Associated Press TALLINN, Estonia (AP He's been honoured with an Oscar and British knighthood.A s of Thursday, Sean Connery can count a bronze sculpture in the Estonian capital among his tributes. The bust of Scotland's most famous actor was unveiled byB ritish Ambassador Peter Carter outside Tallinn's Scottish Club, whose members include Estonians enamored with Scotland and a handful of expatriate Scots. "Sir Sean Connery is, without a doubt, an icon," Carter told d ozens of invited guests. "He is v ariously known as James Bond o r the sexiest man of the century. He's a great British actor, a greatS cot actor and a great symbol for S cotland." The Scottish Club, which starte d as a whiskey sampling society in the early 1990s, got the idea of honouring "Scots who have m ade a difference" a few years back, said president Mart H aamer. It already has a bust of 18th century Scottish poet Robert Burns. H aamer read a brief statement from the 80-year-old actor, who w on an Academy Award for a supporting role in "The Untoucha bles." "One cannot help but be flattered by the Scottish Club's gest ure. My best wishes to the members of the club and to all the people who made this possible," t he statement said. A vocal supporter of the proindependence Scottish National Party, Connery lives in theB ahamas and has said he will not live in Scotland again until it gains independence from the U nited Kingdom. H owever, Carter noted that "the fact that he has acceptedk nighthood, suggests that he is a lso a great supporter of the queen." Connery was knighted in 2000. The 10,000 ($14,000 E stonian sculptor Tiiu Kirsipuu was financed through private donations and depicts a beardedC onnery at a mature age. "I think the older he gets, the more charming he becomes," Kirsipuu said. By MIKE LIGHTBOURNE N O MATTER h ow much you p repare, real estate closings almost always take longer than they should. Sometimes unbearably longer. Delays could fall into three majorc ategories: financing, legal delays (sometimes just getting a simple sales contract agreed to) and possibly inspect ions. G etting estimates and negotiating repairs can really hold up a transaction, b ut there are ways to speed up the p rocess. O ne option is for vendors to procure a pre-listing inspection and make repairs before the first potential pur-c haser sets foot in the home. However, this can be a costly expense for vendors, especially when purchasers may arrange for their own inspection after making an offer, and there can often be great differences in estimated costs. A better alternative is for the BREA l isting agent to walk through the home w ith the vendors, noting the age and the condition of major components oft he home and securing estimates for p otential repairs. Vendors may not have to fix the problems, but having an idea of the cost of repairs will help them price the home fairly, as well as reduce the time necessary for purchasers to negotiate the costs. T his is an excellent preventative and proactive step towards a successful and, hopefully, speedy closing. ( Mike Lightbourn is president of C oldwell Banker Lightbourn Realty). REALESTATE: Preventing inspection delays Sean Connery immortalised with sculpture in Estonia BRITISH AMBASSADOR Peter Cater looks at a bronze bust of Oscar-winning actor Sean Connery, a prominent Scottish nationalist, after unveiling it at the Scottish Club in Tallin, Estonia. The bust was created by Estonia's most famous sculptor Tiiu Kirsipuu, and is intended to mark the year Sir Sean turned 80. The club itself was first founded in 1993 as a whisky society, but became associated with prominent politicians and top business figures. Based in the heart of Tallinn's Unesco heritage site, its staff serve guests dressed in kilts, while the carpet is tartan. (AP Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps y ou are raising funds for a good cause, campaigning f or improvements in the ar ea or have won an awar d. If so, call us on 322-1986 and shar e your story.

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announced the opposition will be organising a group at Parliamentary level tob egin informal discussions with interested parties in Grand Bahama about the tax exemptions that wille xpire under the provisions of the Hawksbill Creek Agreement. The agreement was s igned in 1955 between the government and Freeport developer, the late WallaceG roves, to establish a city a nd free trade zone on Grand Bahama Island. Some of the provisions of the agreement, most notablyt he real property tax exemption, expire in 2015. Our committee ought to s peak with the Grand Bahama Port Authority and also the Grand Bahama C hamber of Commerce and other groups, including church leaders and civic organisations. We need to hear your views. When we come to government, I intend to hit the ground running, Mr Christie said. Prime Minister Hubert Ingraham was in Grand Bahama on December 18 when he spoke about the fact that certain tax exempt ions will expire under the provisions of the agreement. He said the Grand B ahama Port Authority has a sked his government to begin discussions on the question of what the position of the government willb e on those exemptions and whether they should be renewed. M r Ingraham said he did not want to speak to the organisation about the mat ter until the authority got its house in order. H owever, Mr Christie said the PLP holds a differ ent view and a different a pproach in this matter. The thing is, it is simply bad manners not to talk to someone who is a majori nvestor in your country. But I am sure that you are not surprised at that. That is the FNMs way, talk to people any kind of way and any kind of how. The PLP would, if it were the government, at the very least begin discussions with the Grand Bahama Port Authority at least at the technical level so that we can understand the issues, the revenue implications and the implications to the future for investment in Grand Bahama, the oppos ition leader said. Mr Christie said his initial thought is that the potentialr eal property tax revenue t hat would come from the expiry of the exemptions would be a great benefit to the treasury and to the peo p le. These therefore have to be studied carefully. But thee conomic structure and sys tem in Freeport have benefitted our country greatly and we must be careful nott o kill the goose that laid the g olden egg, he said. L OCAL NEWS P AGE 10, MONDAY, JANUARY 31, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM arm. The victim was taken to the local clinic for treatment," said Sgt Skippings. The other shooting happened around 2.30am yesterday in Nassau in the area of East and Lewis Streets. Police were told that a man, wearing a yellow shirt and blue jeans, had fired the shots and was seen run ning from the area with a handgun. Officers of the Tourism Police Unit responded and saw a man fitting the description running through McCullough Cor ner. The officers gave chase, but the culprit escaped them. While at McCullough Corner, police spoke with a 27-year-old man of Fourth Terrace, in Centreville, who said that while walking on McCullough Corner he heard gunshots and realised that he had been shot in one of his wrists and shoulder. The victim was taken to hospital by EMS where he was last reported to be in stable condition. A short while later police received information that the culprit was seen leaving the area in a Honda car. Officers of Rapid Strike, patrolling Taylor Street, spotted the vehicle and stopped the car. A 33-yearold man of Foxdale was taken into custody. Police investigations continue. advice of the PLP and sells to Cable and Wireless, we put Cable and Wireless on noticeof our central position that the sale to Cable and Wireless is not in the national interest, and when we return to Government we will re-examine all of the provisions of the deal and we will aggressively reneg otiate the terms of the agreement that we deem repugnant to the national i nterest, Mr Christie said. T he opposition leader s aid his party believes this c ourse of action is in accord ance with the wishes of the c ountry and is consistent w ith the PLP's core values and constitution. He said the party will a ggressively explore lawful ways and means by which Bahamian ownership of BTC can be enhanced, through the offering of shares to the Bahamian p ublic, with appropriate c ontrols to prevent the concentration of shares into theh ands of one group or fami ly, whether Bahamian or f oreign. We believe that BTC s hould then be opened to competition and the telecommunications market liberalised as soon as is reasonably practicable thereafter. A BTC, owned by a wide cross-section of the B ahamian community, c ould purchase the best management expertise and t echnology to provide the B ahamian and foreign busi n ess community a competitive world class and affordable service like the Bank of The Bahamas, Mr Christie said. If Mr Christie wins the e lection and proceeds with t his course of action, it would not be the first timet he PLP renegotiated a cont ract between the Governm ent of the Bahamas and a private investor. T he PLP found the terms of the Hawksbill Creek agreement, which delegated the powers of immigration control to a private company, to be repugnant to the national interest and negot iated that change which c ame into effect in 1969. The result was that the G rand Bahama Port A uthority returned immi g ration control to the Bahamian people. We made the same principled point to the developers of the then proposed Clifton Cay, and when we c ame to office we changed t he deal in the national interest. We are doing thes ame now with Cable and W ireless, Mr Christie said. H e said the PLP does not a gree with, and will not supp ort in the House of Assembly and the Senate, t he sale of any of the shares in BTC to Cable and Wireless. We do not believe that it (Cable and Wireless trustworthy, reliable and c apable strategic partner for t he Bahamas and BTC. We call on the government toc ease and desist in pursui ng the sale as they have a nnounced it, Mr Christie s aid. A mong the items that the party now finds repugnant i s the notion that the FNM administration has agreed that the Government of The Bahamas is to becomea minority shareholder in BTC but will still have to f und part of the pension liab ilities of the company in the first instance by advanc-i ng $39 million from the t reasury, with a continuing o bligation to fund future l osses. SEEPAGETWO The PLP would agressively renegotiate the BTCsale F ROM page one Christie:government must be careful about changing GB economic structure FROM page one CYCLIST MOWED DOWN AND KILLED FROM page one

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By SIR RONALD S ANDERS (The writer is a Consultant and former Caribbean diplomat) I am writing this comm entary in the airport in Kuala Lumpur, the capital of Malaysia. To describe Malaysia as a vibrant, energetic country would be an understatement. It is fast becoming yet a nother Asian Tiger joini ng the economies of Sing apore, South Korea and T hailand. Y et, it wasnt so long a go that Malaysia was regarded as a poor second cousin to other Asian states behind which it lagged economically. The country has oil. But that natural resource i mportant though it is is not the main reason for this countrys transformat ion in the last 40 years into a middle-income country w ith a multi-sector economy. Prime Minister Najib T un Razak credits the countrys transformation to the investment of its revenues from oil and gas int wo areas education and infrastructural development Malaysia now has a h ighly competent, skilled work force and significant physical infrastructurei ncluding highways along which its production is moved to its port and air port, and its people easily t ransported for work and l eisure. Apart from oil and gas, electronics is its biggeste xport and employer of both its skilled and semiskilled population. The Prime Minister is a iming to make Malaysia a high-income country by 2020, and it looks set to achieve it. The government and the private sector have joined in an investment pro gramme designed to produce millions of new jobs and to upgrade the skillsof the existing work force. While the government is the facilitator of the pro gramme, the bulk of the investment is coming from the private sector, mostly local businessmen. They have set themselves on a course to establish high technology industries, medical technology and pharmaceuticals. Malaysia has recovered well from the global financial crisis which started in late 2008. While in 2009 decreasing demand for consumer goods slowed economic growth, the economy has bounced back in 2010 and the foreign reserves of the Central Bank are healthy. Kuala Lumpur is a hive of economic activity. Its roads are clogged with traffic, mostly one person to a car an indication of years of state-subsidised gasoline, investment in roads and good salary levels. The skyline is dominated by structures immediately reminiscent of New York and Toronto twin towers, not unlike the tar gets of 9/11 and a tower that resembles the CN Tower in Toronto almost exactly. The shops range from up market designer names almost all of them, Gucci, Louis Vitton, name it and it is there to market malls which also have designer name brands for items from handbags to clothing, except these are fakes made mostly in Korea, but enjoying a brisk trade among Malaysian locals and foreigners alike. English is the common language of the ethnic M alays and the Chinese c ommunity that have lived in Malaysia for decades. I t helps greatly in doing business. And, while it might have b een expected that China w ould be the dominant i nvestor country, it is still the United States that ist he source of the largest c umulative investment, followed by Germany and the United Kingdom. The Prime Minister sports a large emblem of t he number 1 on his lapel. So do most of the minist ers and government employees. One signifies OneM alaysia, an attempt by t he present government to m ake long-term residents of Malaysia, particularly the Chinese, feel that whilet hey may not be Malay, they are Malaysian in a country whose society is one. There is good reason for this. The Chinese are industrious in addition to b eing well educated and w ell trained. They have made a significant contribution toM alaysias development and the present government is trying to stem a tide of Chinese emigrationw hich deprives the country o f business talent and cap ital. Years of preferences to the Malay population dis advantaged the Chinese who had to perform better to maintain their place int he society. N ow the effort is build a One-Malaysia society that is inclusive, keeps talent at home, and is focused on a strong economy. Malaysias population is also over 60 per cent Mus l im, but that does not stop it from being open to busi ness from Europe and North America. As the Chairman of a large cong lomerate put it, Muslims y es, Money makers too. The countrys members hip of the Commonwealth i s part of a valuable heri tage. English Common law and a parliamentary systems imilar to the countries of the Commonwealth Caribbean and Britain make it easy for investors from the US and the UK to do business in the country. A nd, if the high occup ancy levels in the many t op class hotels in the centre of City are anything toj udge by, both investors a nd foreign contractors are taking a keen interest in Malaysia. Sixty per cent of Malaysi a s 27 million people are connected to the Internet, and Google Inc, the ownero f the worlds most popular search engine on the Internet, has just announced an investment of millions ofd ollars as part of its focus o n south-east Asia. While foreign investment is welcome, and several foreign companies are being awarded large infrastructural projects, the government is keen to pro m ote local direct investment. It has announced plans to boost local direct investment through busi ness linkages and domes tic outsourcing. There is little doubt that Malaysia will achieve its a mbition of making its people high-income earners. Even if there is slippage from the projected date of 2020, it will be pretty close to it. The secret of its success h as been the effort by successive governments to use revenues for huge investm ents in education and the u pgrading of skills so as to t ake advantage of internet broadband technology for the services sector andm anufacturing industries. Malaysia and its neigh bour Singapore are Commonwealth countries thata re doing very well in glob al economic terms which shows that developing Commonwealth countriesc an learn from each others experiences in the d evelopment models they adopt. C aribbean and Pacific Commonwealth countries should invite a combina tion of government and b usiness people from Malaysia and Singapore to share the lessons theyve learned and the skills t heyve developed. Commonwealth countries of the S outh have shown they can be as successful as the rich countries of the North. R esponses and previous commentaries at: www.sirronaldsanders.com T HE TRIBUNE MONDAY, JANUARY 31, 2011, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Lessons from Malaysia WORLDVIEW SIRRONALDSANDERS M ALAYSIA: K uala Lumpur is a hive of economic activity. R R a a z z a a k k c c r r e e d d i i t t s s t t h h e e c c o o u u n n t t r r y y s s t t r r a a n n s s f f o o r r m m a a t t i i o o n n t t o o t t h h e e i i n n v v e e s s t t m m e e n n t t o o f f i i t t s s r r e e v v e e n n u u e e s s f f r r o o m m o o i i l l a a n n d d g g a a s s i i n n t t w w o o a a r r e e a a s s e e d d u u c c a a t t i i o o n n a a n n d d i i n n f f r r a a s s t t r r u u c c t t u u r r a a l l d d e e v v e e l l o o p p m m e e n n t t .

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I NTERNATIONAL NEWS P AGE 14, MONDAY, JANUARY 31, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM M ARACAY, Venezuela A FIRE and a series of explosions tore through a military arms depot Sunday, killing one person andl eading authorities to evacu ate thousands of people, a ccording to Associated P ress. About 10,000 residents fled their homes in areas up to several miles (kilometers) from the site as the burning ammunition produced powerful blasts, offic ials said. T he cause of the predawn fire was unclear. H ours after the initial e xplosions, faint booms c ould still be heard in the distance as clouds of whites moke rose from the area a longside hills in Maracay, 60 miles (100 kilometers w est of Caracas. "It's under control but there is still risk," Presid ent Hugo Chavez said as he visited firefighters and o ther officials in Maracay. He noted that the blasts h urled some explosives s uch as grenades long distances into surrounding c ommunities, and urged caution. O fficials were searching nearby neighborhoods fora ny stray explosives, Aragua state Gov. Rafael Isea told the state-runV enezuelan News Agency. C havez praised officials for a swift response. "An event like this could have produced ... a much biggert ragedy," he said. Chavez wondered aloud what might have caused it, saying: "A fire there is odd, and at that hour." Vice President Elias Jaua s aid earlier on state televis ion that authorities were i nvestigating and suggested they weren't ruling o ut sabotage. "We can't rule out any h ypothesis since Venezuela is a country threatened bys trong international powe rs," Jaua said. "We know of groups that act in a crazy manner within our territory, but it can't be determined yet if it was provoked or if it was an accident." He did not elabor ate. O ne woman in a house was killed by a piece of s hrapnel that wounded her i n the abdomen, the Attor ney General's Office said in a statement. Three people were i njured in traffic accidents a mid the chaos as people fled, Isea said. "It seemed like they w ere bombing us," said Yandry Rey, 30, who lives with her husband, a military officer, and two chil dren in housing adjacent to the munitions storage area. She said the explosions shook her house and woke h er up, and that they fled w ith their children. Rey s aid she saw a "ball of fire" when she opened the door. H ours later, she and several other people who fled t he military housing complex were resting on thee dge of a ditch in the s hade. Rey's daughter still wore her nightshirt. Another woman, 27year-old Genesis Baricot, said her husband returned to their house and saw that the blasts had blown off t heir front door and caused p art of the roof in the kitchen to collapse. S he said she didn't yet k now where the family would go. "What are they going to do with us?" she asked. S oldiers and police b locked exits on a major highway that runs nearby. Thousands of evacuees w ere taken to a sports sta dium, a military barracks and a park, emergency management director Luis Diaz told state television. Chavez said the evacuees included Chinese and Russians who were working on p rojects in the area. H e said the Russians w ere building a rifle factory. H e did not elaborate on what the Chinese were i nvolved in. National Guard Maj. G en. Luis Motta D ominguez said in remarks broadcast by Union Radio that authorities were waiting for the smaller blasts to die down and that what was left was "a lot of smoke." S tate TV showed firef ighters working to extinguish what remained of the f ire. C avim, Venezuela's mil itary arms manufacturer, said in a statement that the explosions began at 4:45a .m. local time (4:15 a.m. E ST; 0915 GMT). The fire burned four artillery-munitions storages ites out of 20 that Cavim maintains in Maracay, Gen. Cliver Alcala Cordones told the state news agency. Fire, explosions at Venezuela arms depot; one killed SMOKE BILLOWS from a military arms depot after a fire in Maracay, V enezuela, Sunday, Jan. 30, 2011. A fire s et off a series of explosions at a military arms depot, killing at least one person and leading authorities to evacuate about 10,000 people from the area. (AP A SOLDIER stands guard outside a military arms depot after a fire in M aracay, Venezuela, Sunday, Jan. 30, 2011. A fire set off a series of explosions at a military arms depot, killing at least one person and lead ing authorities to evacuate about 10,000 people from the area. (AP JUBA, Sudan SOUTHERNSudan's referendum commission said Sunday that more than 99 percent of voters in the south opted to secede from the country's north in a vote held ear lier this month, according to Associated Press. The announcement drew cheers from a crowd of thousands that gathered in Juba, the dusty capital of what may become the world's newest country. The weeklong vote, held in early January and widely praised for being peaceful and for meeting international standards, was a con dition of a 2005 peace agreement that ended a north-south civil war that lasted two decades and killed2 million people. The head of the commission's southern bureau, Justice Chan Reec Madut, said Sunday that vot er turnout in the 10 states in the south was also 99 percent. He said only some 16,000 voters in the south chose to remain united with northern Sudan, while 3.7 million chose to separate. In northern Sudan, 58 percent of voters chose secession, said Mohamed Ibrahim Khalil, chair man of the referendum commission. He said some 60 percent of eligible voters participated. Southern Sudanese voters in eight foreign countries over whelmingly supported secession,he said, with 99 percent support for secession among the 97 percent of voters who participated. In the United States, he said, more than 99 percent of the 8,500 southerners who cast votes chose secession. "These results lead to a change of situation," said Khalil after he read the results. "That change relates only to the constitutional form of relationship between north and south. North and south are drawn together in indissoluble geographic and historic bonds." Referendum commission offi cials did not announce an overall percentage total for all votes cast. The commission's website said Sunday that 98.8 percent of voters chose secession, but noted that the figure may change. If the process stays on track, Southern Sudan will become the world's newest country in July. Border demarcation, oil rights and the status of the contested region of Abyei still have to be negotiat ed. U.N. chief Ban Ki-moon praised the conduct of the election, but said much still needed to be done. "We are still very much con cerned about post-referendum issues border security, citizen ship, wealth sharing, demarcation, popular consultations in South Kordofan and Blue Nile States, and most importantly the status of Abyei," he said while addressing African leaders at an African Union summit in Addis Ababa, Ethiopia. "Consolidating the peace in North and South Sudan will require statesmanship, wisdom, patience and the consistent engagement and support of the international community." Southern Sudanese president Salva Kiir also gave remarks at the results ceremony, speaking mostly in Arabic. "We are still moving forward," Kiir said in English. "The struggle continues." Kiir thanked Sudanese President Omar al-Bashir for his leadership and for "making peace possible." Kiir said the south will declare independence on July 9, but not before. "We are not going to put down the flag of Sudan until July 9," he said. The event marked the release of the first official primary results from the self-determination vote. The results will not be finalized until February. But Sunday's announcement did not stop people from celebrating. "I'm very happy because today we have determined our destiny," said Anna Kaku, 42, who dressed up for the ceremony and joined the spontaneous dancing that followed Kiir's address. "We fought for so many years, and now we have done this peacefully." Over 99 per cent in Southern Sudan vote for secession A SOUTHERN SUDANESE woman stands in a crowd during the announcement of preliminary referendum results in Juba, southern Sudan on Sunday, Jan. 30, 2011. Referendum officials indicated that nearly 99 per cent of all voters cast ballots in favor of southern independence. Southern Sudan will remained united with the north until the expiration of Comprehensive Peace Agreement in July 2011. (AP SOUTHERN SUDANESE men line up to casts their votes at a polling center in Juba, Southern Sudan, in this Jan. 10, 2011 file photo. The Southern Sudan Referendum Commission said Sunday over 99 percent of the people in the south voted for secession in its first official primary results since the vote was held earlier this month. (AP Share your news The Tribune wants to hear fr om people who ar e making news in their neighbour hoods. Perhaps you ar e raising funds for a good cause, campaigning for impr ovements in the area or have won an awar d. If so, call us on 322-1986 and shar e your story.

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LOCAL NEWS THE TRIBUNE MONDAY, JANUARY 31, 2011, PAGE 15 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM MEMBERS of the Royal Bahamas Defence Forcese xecutive, management and leadership team kicked o ff the year with a threeday planning seminar at t he Coral Harbour Base. On the heels of Commodore Roderick Bowes first year anniversary at the helm, the team converged t o execute the first phase o f planning aimed at mov ing the 30-year-old force into a modern era. The Seminar took a look a t the RBDFs overall missions, vision and objectives, which have been in exis t ence since its inception, determining their relevanceto todays tasking and chal lenges. S pecific departments also p resented their individual plans for the future based on their leaders overalls trategic intent and also were empowered to field additional recommenda tions from the participants. L ast year, the administration of the force concentrated on the morale and welfare of its men and women. The focus for 2011 will now shift to encompass training and re-education. With 32 persons presently on study leave, training in arenas as piloting, culinary arts, construction, plumping and electrical engi-n eering technology to psychology and computer scie nce, the force says it is well on the way to realising a more skilled organisation. There are also six officers away at the United States Coast Guard officerc andidate school and the B ritannia Royal Naval Col lege for training, and a number of others benefitting from a range of IMET( International Military Education and Training) and other overseas Coursesa round the world. Representatives from partner agencies like the Police, Immigration, Cus-t oms, Fisheries, BASRA, a nd the United States Coast Guard were also invited to discuss theirr oles and methods of improved connectivity for 2011. Media training, divi sional system review, inspi r ational speakers and spiritual charges were also incorporated. The planning concluded with a breakfast with Prime Minister Hubert Ingraham, Minister of National Security Tommy O A Turn quest and the Secretary to the Cabinet Anita Bernard. THETEAM: The Executive, Management and Leadership Team of t he Force pose for a photo at the end of their Annual Planning Ceremony. Defence Force gets planning for modern era PRIME MINISTER Hubert Ingraham, Minister of National Security Tommy Turnquest and Secretary to the Cabinet Anita Bernard on a short tour of the RBDF base. SENIOR OFFICERS listen to presentations during the seminar. Three-day seminar at Coral Harbour Base

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By NEIL HARTNELL Tribune Business Editor THE Bahamas Chamber of Commerce and Employers Confederation (BCCEC aiming to kick back into gear on its workforce initiatives through the imminent hiring of an education and training manager, a senior official describing the shortage of trained Bahami an workers as the single biggest limiting factor in our growth across the board. Robert Myers, chair of the BCCECs training and educa tion division, said that while the restructuring caused by the Chamber/Employers Confed eration merger had set us back five to six months, the prospective education and training manager had been identified, and talks over terms and salary were now being finalised. With that, we should see the initiative kick back into gear, Mr Myers told Tribune Busi ness. Weve done well, but did have some delay because of the shift to the BCCEC. That took a bit of time in that we had some changes with regard to the structure. Theres a lot happening, and it will pick up momentum towards the end of the first and quarter and the second quarter. Praising the ongoing Chamber Institute seminar series as one of the most powerful ini tiatives undertaken by the BCCEC, providing for career, business and vocational development, Mr Myers said a survey would soon be launched to assess where companies saw labour force deficiencies, and where they needed help in edu cating and training workers. He added that April 6 had been tentatively pencilled in as the date when the Chamber would stage a Business Educa tion Seminar in conjunction with the US Embassy, while further initiatives in alliance with the Association of Char tered Certified Accountants (ACCA Describing workforce education and training, and result ing labour productivity, as hugely important, Mr Myers told Tribune Business: Its the single largest limiting factor in our growth. We just have huge problems trying to get trained, efficient, consistent employees. Its a big, big problem. Its limiting growth all over the SECTIONB business@tribunemedia.net MONDAY, JANUARY 31, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.70 $4.72 $4.61 By NEIL HARTNELL Tribune Business Editor CITY MARKETS will need to invest between $10$12 million to get two new stores, on JFK Drive in Nas sau and the Queens Highway in Freeport, opera tional, Tribune Business was B y NEIL HARTNELL Tribune Business Editor A ML Foods chairman last n ight branded the $12 million offer by City Markets principal, Mark Finlayson, to a cquire 51 per cent majority control of the BISX-listed food retail group as not int he best interests of all shareh olders, telling Tribune Business it would leave them at the mercy of an untried and unproven management team. D escribing the announce ment by Mr Finlayson and his Trans-Island Tradersv ehicle, which last November acquired the 78 per cent majority stake in City Markets Bahamas Supermarkets parent for just $1, as effect ively the first hostile t akeover bid seen in the B ahamian capital markets, Dionisio DAguilar said he was amazed that no formala pproach had been made to AML Foods Board. T rans-Island Traders is offering what it describes as a 50 per cent premium to AML F oods existing share price, a lthough the $1.02 close on By NEIL HARTNELL T ribune Business Editor A COMBINED City Markets-AML Foods would have just a 25 per cent market s hare of the Bahamian food retail market, Mark Finlayson t old Tribune Business last n ight, adding that together the t wo companies would generate an annual $150 million in food sales alone. Speaking to Tribune BusiBy ALISON LOWE Business Reporter a lowe@tribunemedia.net ROBIN HOODSnew Prince Charles Drive store iso n target to attract 30,000 cus tomers this month, and is set to top out somewhere in the5 0,000 to 60,000 range, with the groundbreaking for an a ssociated 44,000 square foot retail plaza on the same site set for March. S andy Schaefer, Robin Hoods president and co-own er, and developer of the plaza, s aid it was scheduled to be constructed before year-end. It is expected to contain a By ALISON LOWE Business Reporter alowe@tribunemedia.net CONCERNS are grow ing in the Bahamian auto motive industry about some car dealers who are allegedly offering imported vehi cles at what are considered by many to be impossibly reduced prices. Ben Albury of Bahamas Bus and Truck, and Fred Albury of Executive Motors, both told Tribune Business they believe some car dealers may be submit ting false invoices to the Customs Department and clearing their vehicles witho ut paying the proper duty. This then enables the salesmen to attract cus tomers by offering substanWORKER TRAINING: CHAMBER KICKS BACK INTO GEAR SEE page 3B $12m hostile offer not in AMLs interest BISX-listed food retail groups chair says largest shareh olders definitively rejected Finlayson offer, as would leave minority at mercy of unproven management Proposed $1.50 a share tender a 47%, or $4m, premium to Friday close Potential purchaser believes prospects are pretty high AML FOODS CHAIRMAN D ionisio DAguilar SEE page 4B Merged City MeatAML to have just 25% market share Finlayson says combined entity to gross $150m in f ood sales per annum alone Says definitely not hostile Hoping for Commission approval in seven-10 days But analyst sceptical, saying at least $4 per share n eeded MARKFINLAYSON Robin Hood tar gets 30k vistors for Jan SEE page 6B Set to top out in 50,000-60,000 range on monthl y customer count A SHOPPER l ooks at whats on offer inside Robin Hood on Prince Charles drive. Felip Major /Tribune staff AUTO SECTOR FEARS RISE OVER FALSE INVOICING SEE page 5B SEE page 5B CITY MARKETS TARGETS $1 0-$1 2M FOR STORES $6m already raised for JFK Drive location Freeport key to return to profit, with firm still on track for $120m sales SEE page 3B

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B USINESS P AGE 2B, MONDAY, JANUARY 31, 2011 THE TRIBUNE ROYALFIDELITY MARKET WRAP By ROYALFIDELITY CAPITAL MARKETS EQUITY MARKET TRADING STATISTICS Week ending 28.01.11 BISX SYMBOLCLOSING PRICEWKLY PRICE CHANGEVOLUMEYTD PRICE CHANGE AML$1.04$-07.22% BBL$0.18$-00.00% BOB$4.90$-00.00%B PF$10.63$-00.00% B SL $5.01$-00.00% BWL$2.70$-00.00% CAB$10.21$-0-2.39% CBL$6.81$-0.042,223-2.71% C HL$2.40$-00.00% C IB$9.39$-00.00% CWCB$2.18$0.11019.13% D HS$1.60$-00.00% FAM$5.47$-0.601,000-9.88% FBB $ 2.17$-00.00% FCL$5.48$-8000.37% FCLB$1.00$-00.00%F IN$6.51$-6,000-9.96% I CD$7.40$-00.00% JSJ$9.82$-00.00% PRE$10.00$-00.00% INTERNA TIONAL MARKETS FOREX Rates CurrencyWeekly %Change C AD 0 .9998 -0.73 G BP1.5781-1.42 E UR 1.3617 -0.05 COMMODITIES Commodity W eekly % Change C rude Oil 9 9.31 1.79 G old 1,319.00-1.82 IT WASanother slow week of trading in the Bahamian stock market. Investors traded in three out of the 24 listed securities, with no advancers and two decliners. EQUITY MARKET A total of 10,023 shares changed hands, representing a slight increase of 3,745 shares compared to the previous week's trading volume of 6,278 shares. Finance Corporation of the Bahamas (FIN was the volume leader, trading a volume of 6,000 shares to close unchanged at $6.51. FamGuard Corporation (FAM decliner in the week, trading a volume of 1,000 shares and falling $0.60 to see its stock close at $5.47, a new 5-week low. Commonwealth Bank (CBL of 2,223 shares to see its stock price decrease by $0.04, closing at $6.81. BOND MARKET No notes traded during the week. COMPANY NEWS Earnings Releases: Focol Holdings (FCL financial results for the quarter ended October 31, 2010. FCL reported net income of $4.8 million, an increase of $261,000 or 5.7 per cent compared to $4.6 million in the same period the previous year. Revenues of $68.5 million were up by $8.9 million or 15 per cent in comparison to the prior period. The cost of sales also increased by $8.6 million or 18 per cent to $56.3 million, resulting in gross profits of $12.2 million that increased by $320,000 quarter-over-quarter. Earnings per share for the quarter were $0.13, compared to $0.12 in the comparative period. Total assets and liabilities at October 31, 2010, stood at $140.5 million and $25.4 million respectively, compared to $136.8 million and $23.7 million at July 31, 2010.

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By ALISON LOWE Business Reporter alowe@tribunemedia.net THEMinister of the Environment does not have an answer as to why initial steps on installing a transmission line capable of carrying the required amount of energy from Abacos new power plant to residents and businesses are being taken now, with the plant itself is in the final testing phase. Earl Deveaux confirmed in a meeting with the Abaco business community and residents in Marsh Harbour on Friday that BECs Board has authorised a tender for the completion of an upgraded 60 MW transmission line from Wilson City to Marsh Harbour, with expectations that the power line could be completed by May 15 this year. This comes over six months after the Wilson City power plant had initially been scheduled for completion, as it now enters a final reliability testing phase before it comes on stream to provide the envisaged enhanced power supply. The plants four 12 megawattgenerating units will ultimately be capable of producing 48 megawatts of power. Current transmission lines are capable of carrying 14 to 16 megawatts of power, and Abacos present power demands are around 11 megawatts at daily peak, said Mr Deveaux. In the summer, peak demand can reach closer to 25 mega watts. Abaco residents yesterday questioned why BEC is only moving ahead with the tendering process for the transmission line at this late stage, and expressed fear that the tourism-dependent island will again suffer from the disastrous load shedding and power blackouts that saw residents and visitors faced with having to go without power on a daily basis for several days over summer 2010. One resident, who declined to be named, said: BEC is completely and utterly incompetent. Before they even broke ground in Wilson City they had the facts. They knew the new plant would generate up to 48MW. They knew the old power lines would not be able to handle much more than 12MW. Also, they said when they began the power plant it would be ready before summer last year. Here we are now looking at it maybe nearing completion when this summer starts. And that is just maybe! Initial pronouncements by BEC were that the Wilson City plant would be fully operational by summer 2010. The Government has pointed to the Judicial Review of the decision to go ahead with the plant as a significant cause of delay in the project. In his statement in Marsh Harbour, Mr Deveaux said he had travelled to Abaco to provide an update to residents on the status of generation at the Wilson City plant, and the plans going forward to address the peak demand period for the summer. He apologised to residents for the nightmarish experiences suffered in the past, including the recent nuisances over the past few weeks as it relates to power supply. Like you, we are disappointed in the performance of BEC and its reliability, he said. According to Mr Deveaux, recent power outages in Abaco were attributable to attempts to service Marsh Harbour from Wilson City and the old power plant interchangeably, and when switching between generators at Wilson City. told last night, with the company poised to return to profitability once it fixes its three Freeport stores. Mark Finlayson, City Markets principal, told this newspa per that $6 million had already been raised to convert the former Burns House property on the corner of JFK Drive and Bethel Avenue, next to Royal Bank of Canada, into a replace ment store for the former Oakes Field location. Right now, we have two of them finalised, Mr Finlayson said of new City Markets locations. That was the difficult part of it. We did not want to do it all out of our own pocket, and Col ina put a group together to get this financed. We already have $6 million on the JFK property. Part of thats our money and part of that Colina raised for us. With a g roup like Colina, its not difficult. Mr Finlayson said Supervalue from the US would be assisting with the layout and designof the JFK Drive store, adding that a concrete shell needed to be put in, along with the correct fixtures and outfitting. He added that the supermar ket chain had been planning to construct two City Market Super Centres, one on the East-West Highway in Nassau, the other on the Queens Highway in Freeport, but if his plans to acquire a 51 per cent majoritys take in AML Foods came to fruition, the former would not be needed due to its proximity to the latters Solomons Super Centre format in the Town Cen tre Mall. Acknowledging that the EastWest Highway plan had been put on the shelf for the timeb eing, Mr Finlayson said City Markets was still pursuing plans to turn the old Butler & Sands building on Freeports Queens Highway into a Super Centre. Analysing the investment required for that and the JFK Drive location, Mr Finlayson told Tribune Business: I think if youre talking about the one in Nassau and the one in Freeport, youre talking in the range of $10-$12 million, minimum. Were trying to raise $6 million for both locations. Mr Finlayson said the super market chain was still on track to do $120 million in sales during its first year under new ownership, with its three Freeport stores the key to profitability. Weve got to get Freeport fixed. As soon as we get Freeport back, well be back in the black. Freeport is key, he said. Weve done a pretty good job so far, and are ahead of where we thought we were going to be. Just based on City Markets, I think were going to hit around $120 million in sales for the first 12 months. BUSINESS THE TRIBUNE MONDAY, JANUARY 31, 2011, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM &RPIRUWDEOHRRPVDW&RPIRUWDEOHDWHV5RRPVIURPMXVWSHUQLJKW SOXVJUDWXLW\5HVWDXUDXQWDQG%DU 5HFUHDWLRQRRPHHWLQJRRP$OEDQV'ULYH place. Weve got Baha Mar coming on line; God knows where theyre going to get the people. Kerzner is challenged by the same problem. Worker productivity, and the Bahamas inabil i ty to produce a labour force where all participants are attuned to the demands of the modern workplace, have been highlighted repeatedly in the studies conducted by Bahamian-based economist Ralph Massey. The issue becomes more urgent every year when 5,000 Bahamian students leave high school, some 3,000-4,000 of them going directly into the workforce. Analysing the 2006 BGCSE maths and English grades among New Providence public school students, Mr Massey found that In English, 44 per cent of New Providence public high school students passed, with 56 per cent failing. A total of 17 per cent "both failed and were functionally illiterate", meaning they could not read or hear, then communicate thoughts coherently. And it was worse for maths, where some 46 per cent almost half of all New Providence public high school students who sat the 2006 BGCSE exam were found to be "functionally illiterate", meaning they did not know the difference between addition and multiplication. Mr Myers, who is president of Caribbean Land scape and also co-chair of the Bahamas Landscape Association (BLA the certification programmes the latter had established, where Bahamians in the sector were encouraged to obtain certification in posts such as horticultural and landscape maintenance technicians, were acting as a testing ground for wider initiatives. Its not such a problem in industries like banking, where you have got college graduates and people with degrees, Mr Myers said of the need for a trained workforce. What were finding in the service sector is, because there are very few if any programmes, nothing is coming out. In the horticultural sector, before we started the BLA, where were people going to get the training to be horticulturists? You couldnt. Mr Myers said both the BLA and BCCEC focus was to empower the people to empower the companies. Thats the key; to let them earn certification, become knowledgeable employees, and let them empower business. The absence of available, trained Bahamian workers linked directly to Immigration and the level of demand by companies for work permits. If Bahamian workers were not trained and unavailable, Mr Myers said, the likely consequence was an increase in the unemployment rate, which in turn was tied to the crime rate. No answer for BECs woe over transmission CITY MARKETS FROM page one FROM page one WORKER TRAINING

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F riday means that, in effect, t he $1.50 being offered by Mr Finlayson to the latters investors is now a 47 per cent premium. Collectively, hewould be paying about $4 million more than the shares are currently worth. M r Finlayson and TransIsland Traders are now awaiting Securities Commission approval for their public tender offer, which they aim to launch in February to acquire 51 per cent of AML Foods outstanding 11,540,417 ordinary shares, a deal which if successfully consummated would create an enlargedp layer on the Bahamian food retail/supermarket scene. Mr Finlayson yesterday told Tribune Business he thought his prospects are pretty high in terms of the offer succeeding, adding that RoyalFidelity principals, Anwer Sunderji and Michael Anderson, had played a key role in setting the deal up byf acilitating meetings between himself and three of AML Foods largest shareholders. It is understood that two of those Mr Finlayson met withw ere Craig Symonette, brothe r of deputy prime minister B rent Symonette, and businessman Frank Crothers. The other individual Mr Finlayson met with was likely to have been either Majestic Tours boss William Saunders orF ranklyn Butler Jnr. Their position was very similar, Mr Finlayson said of the meetings. They were not averse to it, but indicated their concern was: What about the smaller sharehold-e rs? We have spent the last two w eeks figuring out what was b est for the small shareholder i nterests, and believe this tend er offer, if approved by the S ecurities Commission, would be the fairest way to go about i t. A cknowledging that nothi ng formal had been submitt ed to the AML Foods Board, Mr Finlayson said that of his discussions with the companys larger shareholders, there were those in favour o f it, but Im sure management will not be very much i n favour of it. Q uestioning how AML Foods management could justify the current trading price of the companys stock, M r Finlayson suggested that t he BISX-listed food retail groups recently-announced s hare buy back program was an attempt to boost the stock a nd ward off the advances of an unwelcome predator, namely himself. However, Mr DAguilar p oured cold water on Mr Fin layson and Trans-Island Traders prospects, telling Tribune Business: The three m ain shareholders most defi nitely rejected the offer because they did not feel it was in the best interests of all AML Foods shareholders. If they were to sell out, they would leave the minorityi nvestors of AML at the mercy of an unproven management team, and did not think that was the ethical, justifiable and right thing to do.T his is not in the best interests o f all shareholders of AML, a nd the Board would not accept an offer like this. Given that position, it is possible that Mr Finlayson and his team have gone public with their tender in a bid to god irectly to AML Foods m inority investors, especially the smaller retail ones, thus circumventing the Board. The key is whether AML Foods shareholders believe they will do better by cashingo ut now, and that Mr Finl ayson and his team will do a b etter job, or do they have m ore confident that their f uture lies in better hands w ith the existing Board and m anagement team, the latter headed by chief executive and p resident, Gavin Watchorn. T his is the persuasion battle b oth sides will have to fight. W hile AML Foods investors had suffered heavily as a result of the companys sustained heavy losses between 2003-2008, the comp any has now returned to sustainable, consistent prof i tability, and is focusing on o pening its $4.5 million Solomons Fresh Market store later this year. Contrasting this with the a pproach of Mr Finlayson and h is management team, Mr DAguilar said: Were f ocused on the core business, theyre focused on mergers a nd acquisitions that do not yield to the bottom line and dividends. Stick to the tried and proven team, not theu ntried and unproven team. This is not the time, in my opinion, for them to be wanting to take on another com p any. Acknowledging that yesterdays announcement had blindsided him and taken him by storm, first hearing of it when Tribune Business contacted him, Mr DAguilarlike many other business observers questioned whether Mr Finlayson was trying to bite off too much, given that his plate wasa lready full in trying to turn a round the loss-making City M arkets. Acknowledging that Mr Finlayson was cash-rich following Heinekens $120 million buyout of the Associated Bahamian Distillers andB rewers (ABDAB B urns House/Commonwealth Brewery, Mr DAguilar said: This is about more than money. What is missing from the equation is who will manage this? This is a very detailed, v ery precise, very difficult b usiness to execute. You have t o have a great deal of expert ise to execute in this market. T he Trinidadian investors at C ity Markets may have a lot of experience in the food busin ess, but did not have the e xpertise in the food business, w hich you need to execute f lawlessly. The only reason this is not in the best interests of the company is because no one knows whos going to run it. Y ou have to make sure you have a management team on t he ground to run this comp any. And the AML Foods chairman asked of Mr Finlayson and his team: Do they have t he experience in the food b usiness? Do they understand the complexities of this busin ess? Its very easy to pay money for a business, but its v ery difficult to manage this business. Adding that the proof was in the pudding, MrD Aguilar pointed to the fate of Solomons Mines under the Finlaysons management, and added: Their management e xpertise is not proven. He did concede, though, that AML Foods share buyback, where the company will repurchase up to 10 per cent of its outstanding stock over a three-year period, was ar esponse to rumours about an impending unwelcome takeover offer from a predator. Maybe we heard the rumb lings, and it was brought to o ur attention that the shares w ere undervalued, Mr DAguilar said. We looked at other companies, Cable Bahamas and Commonwealth Bank, and the way they used share buy backs to bring thev alue back. T he AML Foods chairman also took a pop at RoyalFidelitys involvement, pointing out that the investment bank had been talking about synergies between City Marketsa nd AML for the past nine y ears, even trying to get his c ompany on board as investor i n the BSL Holdings vehicle t hey put together for the disa strous $54 million purchase o f City Markets prior to sell ing to Mr Finlayson. We couldnt see the syne rgies, Mr DAguilar added, p ointing out that the deal put t ogether by RoyalFidelity cost investors $75 million in equity and left a company in tatters. The untold millions lost by investors and pension f unds in that deal is not something that is talked about. R oyalFidelity is the financ ial advisor to Mr Finlaysons tender offer, while CFAL is placement agent. Adding that Mr Finlayson a nd his team had not mast ered the business they acquired three-four months a go, Mr DAguilar said AML Foods and City Mark ets had different structures, cultures and management philosophies. His company, with its S olomons SuperCentre and Cost Right formats, was in the mega store and club business while City Markets was a neighbourhood food store. B USINESS P AGE 4B, MONDAY, JANUARY 31, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM FROM page one $12m hostile offer not in AMLs interest

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ness after unveiling his plans to launch a tender offer to acquire 51 per cent majority stake in rival BISX-listed food group, AML Foods, offering a 47 per cent premium of $1.50p er share to last Fridays close, the City Markets principal said he hoped to obtain Securities Commission approval within the next weekt o 10 days. A cknowledging that a publ ic company takeover of this nature was new territory for the Bahamian capital mark ets, given that no single m ajority controlling shareholder was involved, Mr Finlayson said the offer and potential merger was driven by the need to achieve greatere conomies of scale in food r etailing, which was essential to cutting costs and reducing consumer prices. Questioned as to why he was looking at expansion and another acquisition just three-f our months after taking 78 p er cent control at City Mark ets, a company with myriad p roblems as evidenced by a collective $27 million loss over the previous four years under previous ownership, Mr Finlayson said he was in an envi-a ble financial position, given t hat no debt financing had been involved to date in turning that firm around. Flush with cash from the $120 million sale of Associated Bahamian Distillers andB rewers (ABDABs B urns House/Commonwealth Brewery, his family holding more than 60 per cent of the former, Mr Finlayson said that while focused on returning City Markets to prof-i tability something, he a dded, that would be achieved when its three existing Freeport stores were fixedhe was also assessing expansion prospects. Were fixing City Markets, but were also very involved with the expansion, becausew e see economies of scale as really necessary, Mr Finlayson told Tribune Business. Along comes Anwer Sunderji and Michael Anderson of Fidelity, and they say: Maybe you can achieve this f aster than you have. Rather than grow organically, grow by acquisition. I f he was successful in obtaining 51 per cent majority control at AML Foods, andm erging it with City Markets, Mr Finlayson said the combined entity would return the latter to its 2007 sales levels, generating around $150 million in per annum food sales alone. When you look at the economies of scale, what it does for the overall compa-n y, it goes back to a very profitable organisation, and both sets of shareholders will do well from it, Mr Finlaysons aid. If his tender proved suc cessful, he said the first thing h e would do was an examina tion of AML Foods prices in its Solomons SuperCentre and Cost Right formats. Is ee where we can do some improvements in that regard, Mr Finlayson added. The second thing were g oing to do is take the focus off big ticket, larger items. In this business its all about how many turns you can get in a year, and right now those big ticket items are not doingw hat they need to, and even a t the peak, they stored cash rather than turned cash, he added, hinting that space may be sub-let to other retailers to supply items such as electronic appliances. W hile unable to provide d etails on how a merger would be executed, Mr Finlayson said his tender offer was definitely not hostile, and added: I really dont t hink it will be difficult to get up to 51 per cent. There are a n umber of people involved there that I think would part with their shares, and in terms of the actual public out there,I think a number of them will cash out at a premium. M r Finlayson, and his T rans-Island Traders vehicle, a ppear to be banking on the f act that a large number of minority AML Foods i nvestors, especially the retail ones, will be looking to casho ut given the companys s truggles in the 2003-2008 p eriod, and the fact it has only recently resumed dividend payments. However, one analyst, who requested anonymity, last night told Tribune Businessb luntly on the Finlayson offer: That aint going to work, because no one will sell at$ 1.50 a share. Hes going to need $4 a share to get con-t rol. The larger shareholders a re not pleased with it at all. T heyre not willing to sell to the Finlayson team. Its a futile exercise. B y going public with the tender offer, it is possible thatM r Finlayson is looking to exert some pressure on AML F oods management and Board. It is possible that, while not gaining majority c ontrol, Mr Finlayson could still acquire a large position in AML Foods stock,e nabling it to press for Board s eats and a say in manage ment. Mr Finlayson is due to meet the Securities Commissiont oday, and while acknowle dging that this is a whole new territory, is hoping to get regulatory approval to launch the tender within the next week to 10 days. The tender is likely to last f or a minimum of two weeks, a nd a maximum of one month, depending on the pace and level of investor response. It remains to be seen whether the Securities Commission will force him to make ano ffer for AML Foods shares, s omething that would be tough to accomplish, given the diverse shareholder base. Seeking to allay any competition and antitrust fears, Mr Finlayson said a merged AML Foods-City Marketsw ould only have a 25 per cent s take of the $600 million-plus Bahamian food retail business. Its one that makes sense for both companies, but if you talk about affecting the overall food business, its only2 5 per cent of the market, h e added. You cant underestimate the independents, because theyve stolen a big part of the market share since 2007, no doubt about it. C ity Markets has nine s tores, six in Nassau and three in Freeport, while there is a Solomons SuperCentre and Cost Right in both Nassau and Freeport. BUSINESS THE TRIBUNE MONDAY, JANUARY 31, 2011, PAGE 5B 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 $P/EYield 1 .260.97AML Foods Limited1.021.020.000.1500.0406.83.92% 1 0.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6 .184.50Bank of Bahamas4.904.900.000.1530.10032.02.04% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 1 2.509.62Cable Bahamas10.2110.210.001.0500.3109.73.04% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1 6.856.81-0.042,0730.4220.26016.13.82% 3.651.63Consolidated Water BDRs2.052.230.180.1110.04520.12.02% 2.551.60Doctor's Hospital1.601.600.000.1070.11015.06.88% 6 .995.47Famguard5.475.470.000.3570.24015.34.39% 1 0.207.23Finco6.516.510.006,0000.2870.52022.77.99% 1 1.408.77FirstCaribbean Bank9.399.390.000.4940.35019.03.73% 5.513.75Focol (S 5.485.480.000.3660.16015.02.92% 1 .001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.405.00ICD Utilities7.407.400.000.0120.240616.73.24% 1 0.509.82J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 1 00.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 5 2wk-Hi 5 2wk-Low S ymbol B id$ A sk$ L astPrice D ailyVol E PS$ D iv$ P /E Y ield FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%3 0 May 2013 20 November 2029FRIDAY, 28 JANUARY 2011BISX ALL SHARE INDEX: CLOSE 1,475.31 | CHG -1.83 | %CHG -0.12 | YTD -24.20 | YTD % -1.61BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 1 9 October 2017 7 %RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%BISX LISTED & TRADED SECURITIES AS OF:7 % Interest 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 1.57901.5087CFAL Money Market Fund1.57900.32%4.57%1.561030 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 1.14651.0000FG Financial Preferred Income Fund1.14655.20%5.20% 1.11851.0000FG Financial Growth Fund1.11854.73%4.73% 1.14911.0000FG Financial Diversified Fund1.14915.35%5.35% 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 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Nov-10 31-Dec-10 107.570619 105.776543 30-Jun-10 31-Dec-10 NAV 6MTH 1.475244 2.919946 1.543785TO 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 21-Jan-11 31-Dec-10MARKET TERMS31-Dec-10 30-Nov-10CFAL Securities Ltd. (Over-The-Counter Securities)30-Nov-10BISX Listed Mutual FundsNAV Date 30-Nov-10 31-Dec-10 6W$OEDQV'ULYH %HDXWLIXOVSDFLRXVVWXGLRDSDUWPHQW )XOO\IXUQLVKHG SOXVHOHFWULFLW\ PRQWKVPLQLPXPVWD\ 7 tial reductions on the price of the cars they sell in the process denying "legitimate" companies business, and the Government, revenue. Fred Albury said the situation is creating tremendous havoc in the industry, where established dealers are finding it hard to compete with these firms. To ship an average Honda Civic from the US to the Bahamas would cost $1,200 to $1,500. If it is seven to eight years old, it should have value in Japan of at least $2,000, so the actual value would be $3,500 including freight to the dock in Nassau, but their invoice would show $1,800. I dont mind competition but its not a fair playing field for everyone in the industry, said Fred Albury. The effect is particularly significant given the effect the depressed economy has had on demand for cars in the Bahamas. The Exec utive Motors dealer said that used car sales have gone from making up 15 to 20 per cent of his business to around 50 per cent in the last two years. Ben and Fred Albury say the Customs Department is aware of their concerns, and has even made inquiries on a number of occasions to people such as Fred Albury, as the authorised Toyota dealer for the Bahamas, to ask about the value of a car of a particular year and model, apparently as a result of suspicions about false invoicing being done by other dealers. Tribune Business understands that dealers have submitted to Customs what they believe is information relating to the price of used cars bought in Japan, which should provide the black and white evidence necessary for the Department to determine that cars are being undervalued on invoices. Both men claim their suspicions were raised when certain suppliers offered to "do for us what they are doing for them" that is, create false invoices that do not show the true value of the vehicle and what was paid, therefore paving the way for someone import ing the vehicle not to pay the full tax on the car. An offer both say they refused. To date, many dealers feel not enough has been done to stamp out illegality that may be taking place. "The perspective we're getting from the Bahamas Motor Dealers Association members is: 'What more can you do' We have offered to provide Customs with black and white information thats factual. Its not our information, its information that's accessible publicly and proves that something fishy is going on, but they just don't seem to be willing to dig that deep," said Ben Albury. Tribune Business attempted to reach the Customs Department for comment on Friday. However, all available phone numbers rang unanswered on the numerous occasions they were dialed. The businessmen say it is not only they but the Government and the public who lose out. With false invoices, the Customs Depart ment receives less than the proper amount of revenue. In addition, not only are the cars below market price, they say, but some models being brought into the country also "cannot be supported" here from a mechanical point of view, with customers sometimes finding they are unable to get them fixed when some thing goes wrong, said Ben Albury. "They are bringing in vehicles that cant be serviced or supported here, and I have a lot of their customers coming in at end of the day wanting us to support the vehicle or trade it in. They had looked at the price and think theyre getting a great deal. These guys say theyll support them (if any problems should arise with the car), until they go back with an issue and then theyre left out in the cold," said Ben Albury. If nothing is done, it will have an even bigger effect. We are providing jobs and paying taxes. These guys are not really putting anything back into the economy. FROM page one AUTO SECTOR FEARS RISE OVER FALSE INVOICING F ROM page one Merged City Meat-AML to have just 25% market share

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Scotiabank, Sbarros Italian eatery, the only fine dining restaurant in eastern New Providence, a medical centre and a 22,000 square foot gym and spa, which will f eature squash and racketball courts and more. Its going to have the works. Were moving aggressively on it, he told Tribune Business. While no contracts have yet been signed, the gym may be opened under the Magic Johnson brand, in conjunction with the former basket-b all star. The shopping plaza is the next stage of the Prince Charles development project being undertaken by Mr Schaefer and his business partner, Suresh Khilnani, who officially opened the new 45,000 square foot Robin Hood store in the former Pepsi plant offP rince Charles Drive on Friday. Mr Schaefer said that so far the Robin Hood store, which quietly opened its doors on January 8, is on pace to attract 30,000 customers this month, and set to top out somewhere in the 50,000 to 60,000 range. Seventy people are nowe mployed there. After a humbling experience, which saw issues with the required installation of a fire sprinkler sys-t em cause Robin Hood to m iss the lucrative Christmas s hopping season, and millions of dollars in potential revenue lost, Mr Schaefer said traffic at the store since January 8 has exceeded our expectations. Its been good and sales h ave been good, said the businessman in an interview with Tribune Business during the grand opening. One of the stores strengths is its locationi mmediately in the vicinity o f Prince Charles Drive, a h eavily-populated area, and t he fact that he was able to o btain the property for a steal. S ome $3.5 million was then invested in the buildi ng, which has now been a ppraised at around $8 mill ion, said Mr Schaefer. We bought it for probably one-third of its actual value. Thats part of the trick in being able to retail at lower costs. If you are p aying higher rents the consumer pays for that, he not e d, adding that the compan ys sourcing of per cent of its inventory directly from sources overseas, cutting out middle man w holesalers, also plays a h uge part in lower prices offered. W ithin the colourful and airy store, a range of groc eries, electronic appliances, as well as hardware and kitchen, bedroom and bath room products and furnish i ngs, are offered, as well as a full service butchers and bakery. Within four weeks a Scotiabank outlet, Cash 4 Gold,m usic store and restaurant w ill be up and running within the store. Asked to explain how the store can be differentiated by customers from the City Market or Super Values hopping experience, Mr S chaefer said: The store is at least twice the size of any City Market or Super Value. In some cases its three times the size. So, as a result o f the increase in size, the variety of products we can c arry in terms of selection is vastly different. For instance, you will see with us we have hundreds of teas, hundreds of different spices,a variety of cheeses and that will be increased, 75 different types of bread, coffees and hard goods as well eletronics, appliances, hardware. We aspire to be the Walmart of the Bahamas. Meanwhile, Mr Schaefer s tressed his companys comm itment to offer products at l ower prices than some of his competitors. S peaking to the impact of t he entry of Robin Hood into the food retail market a s a whole, Mr Schaefer contended that no one can deny the introduction of Robin Hood has changed t he face of retail, having i ntroduced greater competition into the environment. It forced everybody to lower their prices and improve their game, and the beneficiary is the Bahamian consumer. Thats why we a re constantly looking at ways to reinvent ourselves, o therwise you get stale. N ow you see the foodstores doing a better job and the prices have gone down, Mr S chaefer said. The reality is that retail i s a battle, and in battle you are going to have some winners and losers, and you are going to have some casualties, but thats the way it is.T he second you think retail i s easy, non-confrontational or competitive, well thats only when theres a monopoly or an oligopoly, which essentially there was. The reality is now its a compet-i tive environment, and the d irect result of that is prices drop and prices improve. Yesterday, most customers approached by Tribune Business said they w ere generally pleased with what they found at the store, a nd its location. Edward Virgil, a retiree, said: Anywhere where you can get stuff a little bit cheaper is always of inter-e st to me. I used to go down the road to the one in Harrold Road, but I live in this area so now that this is here I really appreciate it and I believe in the future. Ib elieve it will be well organised and stocked like the one down on Harrold Road. I look for cheaper prices a nd quality stuf,f and anyo ne who is doing that is right up my alley. I cant say I am dedicated to any store, b ut if you are selling things cheaper I will come. If its d earer, I will go elsewhere. Meanwhile, Michelle Grey, 41, of Johnson Road, said: Its different. Theres a lot of variety in the meats a nd the bakery stuff. Desmond Mason said he n ow expects to do nine out of ten of his grocery shopping trips at the store. Its spacious, the price is right and its nice, he said. A 48 year-old Prince Charles Drive woman said s he appreciated the specials o n offer and the proximity. Its not as bountiful as the one out on Harrold R oad, but were happy to have it in the east. It will save us the gas that it would take to get out to the other s hop, she said. Mr Schaefer said he is continuing to survey New P rovidence for potential locations for more new Robin Hood stores. We arel ooking everywhere, he s aid. However, any further expansion will not take place until the PrinceC harles location is firmly established. Were looking to expand, b ut we want to get this one well situated first before we do that. Growing for the sake of g rowing doesnt make sense. Growing with your eye on the profit line does. So wew ill only expand if and when the situation is right, he said. Franchising of Robin H ood into the Family Islands is set to get underway in the next two to three months. B USINESS P AGE 6B, MONDAY, JANUARY 31, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM GN 1164 GN-1170 F ROM page one Robin Hood targets 30k vistors for Jan