Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

Record Information

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

Downloads

This item has the following downloads:


Full Text








PAGE 2, MONDAY, MARCH 14, 2011 THE TRIBUNE



LOCAL NEWS

—— t Pe el iy \
a|)a- 2 rr | aL. ght! . * i
a - ay se _ r inj |
Pe EN ye Se SEMAN

STORY TIME: Hundreds of chil-
dren turned out to the Rotary of
Nassau Sunrise Fair, the fifth annu-
al reading fair where volunteers
took turns to read books to the
children. The event was held on the
grounds of the College of the
Bahamas.

Tim Clarke/Tribune staff

LAWNS, PL
You. Kvow wire Fs real. : SHRUBS TREATMENT

fae] a alt

winw.s brick .oom
WE SEND “EM PACKIN!

DEFERRED FOR 2 MONTHS
(until May 2011)

SUNCARD OR MASTERCARD
TO QUALIFIED APPLICANTS

SPEEDY LOAN APPROVAL

Sa

iD Oe SAN

BANK | “Leader in Auto Financing” www.combankitd.com



THE TRIBUNE





CROWD FORMS
AFTER WANTED
MAN KILLED
BY POLICE

FROM page one |

morning.

Rolle was shot in the
head after he allegedly
pointed a handgun at offi-
cers attempting to arrest
him.

Last night, witnesses
and police officials main-
tained there was no riot
after the wanted man’s
death.

A 58-year-old Biminite,
who witnessed the scene
on Saturday, said: “People
gathered and carried on,
mostly family members
and friends. Maybe 75
people, mostly young chil-
dren between the ages of
14 to 24. But there was no
rioting, nothing like the
one we had here a few
years back. It was just
some family trying to
inquire what was happen-
ing.

“Crowds are gonna
gather once you hear a
shooting in a community.”

Officers found the
wanted man in the bath-
room of a green two-
storey apartment building
off Queen’s Highway.

According to witnesses,
Rolle had sneaked into a
relative’s home to take a
shower.

Sgt Chrislyn Skippings,
police spokeswoman, said:
“On opening the door to
the bathroom, a male was
seen with a firearm. Offi-
cers moved in to arrest the
suspect. It was at this time
the suspect is said to have
trained his weapon on the
officers.”

Officers recovered a .40
Glock handgun with
ammunition.

Yesterday, members of
the northern Bimini com-
munity described locals as
split over the issue.

One resident said: “The
younger set are taking it
the wrong way, and the
older set are taking it
another way - they are sid-
ing more with the police.”

Family members and
friends reacted immedi-
ately to the shooting,
according to police, with
some persons becoming
“loud and boisterous” in
protest of police actions.

Sgt Skippings said:
“Though rowdy, there was
never a riot or any such
indication. Leaders of the
Bimini community,
including church and civic,
responded positively by
calming the agitated fami-
ly members and others.”

Family members con-
tacted by The Tribune
declined to comment on
the shooting.

It was confirmed that
Rolle, along with his
mother and siblings, had
spent most of his life in
Nassau.

Another resident
added: “It really didn’t
shock the community.
People was trying to tell
the family members, if you
know where this boy is, if
you see him, tell him to
take himself in to the
police. They posted up his
wanted pictures all over
town. It wasn’t going to
end well.”

Up to press time, it was
not clear if the team of
officers sent to Bimini on
Saturday, including detec-
tives and a coroner, had
completed their findings.




LOCAL NEWS

set fire to two police boats

THE shooting of Ricar-
do Rolle in Bimini over the
weckend, brings to mind a
riot which took place on
the quaint island in Decem-
ber 2007 when police shot
and killed 43-year-old Ash-
cal Dion Rolle at the Bimi-
ni Breeze nightclub.

Mr Rolle, who was
reported at the time to
have been wanted by police
for a minor traffic violation,
was arrested by two offi-
cers and handcuffed.

According to eyewitness-
es, Mr Rolle was shot to the
head while he was cuffed
and laying on the ground.

Crowd

After reports of the inci-
dent spread throughout the
island, a huge crowd
descended upon the police
compound and started to
destroy the buildings and
vehicles nearby.

Pushing to gain access to
the officer who they
believed responsible for the
shooting, the mob fire-
bombed the police barracks
destroying everything
inside, and set fire to two
police boats which were
moored at the station’s
dock.

Residents then turned
their anger on the police
station and started throw-

FOR 3 IN 1 LAWN SERVICE
Mee ae
ea

a a hy

ing petrol bombs on to the
roof, setting it afire.

When the structure was
surveyed by officers from
New Providence who had
been flown in to provide
assistance, it was discov-
ered that 23 fire bombs had
been hurled at the station.

Riot

Also along the exterior,
air conditioning units and
security bars of the station
had been kicked or pushed
in during the riot which
officers said lasted for
hours.

Rocks, bottles, bricks,
and conch shells were all
scattered throughout the
police compound.

At the time, Police Com-
missioner Reginald Fergu-
son said officers had to fire
“explosives” into the air to
dispel the crowd when Mr
Rolle’s body was being
removed from the local
clinic.

A total of 71 additional
police officers had to be
flown into Bimini, along
with 22 Defence Force offi-
cers to bring the local pop-
ulation until control.






"A high performance
athlete maintains a top
quality diet, High
performance engines
are malatained with
Castrol."

Easter Baskets

'& Crafts

Easter Grass
12 Plastic Eggs
Basket Bags
Easter Baskets

Egg Colouring Kits

$1.50 up
$1.99 up

10 for $7.50

32.50 up _
$1.99 up |

Lots of Easter Toys
Easter Lillies and Calla Lillies
Bunnies and Chicks (Small to Large)

Sema ru Te fnlion

Tyan ie

2007: The police barracks were
firebombed and destroyed.

Minister of National
Security Tommy Turnquest
said the officer responsible
for the shooting would be
placed on “administrative
leave” as they investigate
the matter.

He promised at the time
that whatever actions
needed to be taken, be
they criminal or otherwise,
the public can be assured
that the law will be carried
out.

Constable Carliston Dar-
ling was later charged in Jan-
uary 2008 with Rolle’s death.

S$ Castrol |

mea ate
Distributed By
MAN ta Ut

Meese Se

WR Me earl



ee Pre eR CAP reo eRe MO Mt ate tgtet [met

/) Toners | InkJet Cartridges

ACCESSORIES &
SUP RILIES

AUTHORISED DEALER

£6 MADEIRA STREET, PALMDALE + 242 238 3040 - WW MICROMET BS






MONDAY, MARCH 14, 2011, PAGE 3

Weekend shooting brings to
mind 2007 Bimini incident

Mob firebombed barracks,



Peaturing Comedians

James Sibley and Bryan Cork

House comedian" Naughtey”

“A can't miss show”

APPEARING:

March 15th - March 27th

TUESDAY - SUNDAY + OLOSED MIOMINAYS

Manupe subsyect mamer - 18 pears and older
Doors open &45pme Showtime: 8h
Adimiasion: $00 finer eusicents ($20 value

Leabed between Heck Tara d& Corel Trae

Pome: 242.5905 SHE ext, AD

DIESEL GENERATORS

SUPER SILENT — PERKINS, CUMMINS, ISLEZL:
Automatic Transfer Switch,
1oo/200 galion Fuel tanks, Deep Sea
Controdlers, Stamford Alternators,
Weather Proof Enclosures,
Shipping & Customs Duties Included ....50%%

Deposit, 60 day delivery:

Ieuan Oe

Pu ee
Curmnns Oke
Curmimens Solar
CUN. Perkins 60kw
WK Perkiimes Sack

Digs
Doe
Dat
Deed
|
Coes

SB as
So 12500
S12 850
$149,476.00
S 14.927 s00
$21 8000

ISR TO 4000KW FACTORY DIRECT

NASSAU & FAMILY ISLANDS

Phone 427-3749

www.caribgenerators.com

CARPET, FURNITURE, MARBLE & TILE CARE

The Mow? Tito Resteeaos & CLAN Buea, oa THe ive ti Fara!
NaS OMY PROPEL, CORT Soe Campion a Lie sme Cake Series

+ Camel, Uphotsery, Sona and Marie Claaning & Restoradion

Special

* Peochen Cleaning Systems vamoves Deep £ Hosa Goll,
Bacteria fireasa, Watenneris and Stains tron Capating 4
Funidiure, restoring them to Bke rere al a faction of rplacoman

orl

' Cama Sofas, Loveniets, Chaina, Dining Chairs, Cats Booda

Gesu, Ties. Marta & Bora

Pages, Wacol i Si Carpal imal Spee keel
+ darhla Tis Aestzestion, Potshing, Sealing 4 fare

Verde Gounter-Top Aecdoration 4, Polahing

Auhorised SnomeTech Prodesutiosal Conirecnor
CALL PROCHEM BAHAMAS
PHONE: 323-083 or 323-1594

POU LCL Wane OF PD
PROCHEM SVS TEM (an

OWL WE CAN 00 IT RMARTS

Hae ACA cee 2 are RECT Oe * eine (rang



* pep cord coe

Calleria Cinemas

Whee it — art ee
Ex OFFEROR CHRESS AT bie

MOVFES MLETES MCPS
FED ADO 900
THE ADAPSTMEMT BUREAU













1
D418

10



wna. ben hei 2 boenen |. caer



CF
A TEADLY



PAGE 4, MONDAY, MARCH 14, 2011

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352

WEBSITE
www.tribune242.com — updated daily at 2pm

Why Sir Kendal refused to lead a demo

SEVERAL years ago the late Sir Kendal
Isaacs, then leader of the FNM, resisted the
urging of his members to lead a peaceful
protest outside the House of Assembly. We
do not recall the occasion, but it was just
after the conclusion of the Commission of
Inquiry into drug smuggling when there was
much political unrest in the country.

Sir Kendal, not only a reasonable, but a
responsible man, said he would never take
the responsibility of leading a demonstra-
tion. Why? Because, no one could control a
crowd of people, especially if they should
turn into a frenzied mob. He did not want to
shoulder the inevitable tragic consequences
of damage a violent mob could do. So there
was no demonstration.

Speaking to party members at their Gam-
bier headquarters last Tuesday, PLP Leader
Perry Christie told supporters that come the
2012 election the PLP was committed to
“play it straight.” The party’s campaign will
be “aggressive” and “spirited”, he promised,
but would be conducted with “respect for,
and adherence, to the elementary values of
integrity, decency and dignity that are so
sorely lacking in our country today.”

Mr Christie said his party was going “to
set the pace and set the tone because we
are convinced that political morality, human
decency and civility require us to do so.”

Of course we saw none of this high-mind-
edness displayed when a crowd descended
on Rawson Square on February 23, as police
struggled to hold the barricades and shouts
went up to “secure the House.”

It was meant to be a peaceful union
demonstration to save BTC from the clutch-
es of C&W, but unionists were sidelined in a
swirl of PLP supporters dressed in yellow
“no turning back” shirts and a large contin-
gent of PLP youth.

One policeman later commented that the
first hand he saw touch a metal barricade to
force it down was that of a man with a mur-
der charge pending. Rumours were rife,
resulting in National Security Minister Tom-
my Turnquest eventually confirming that,
according to police reports, several violent
criminals were also among the crowd
protesting outside Parliament that day.

Mr Christie was quick to deny the
rumours that many protesters were paid by
the PLP to demonstrate. He said he cer-
tainly “paid no one.” He also condemned Mr
Turnquest for using “confidential police
information” about criminal elements being
a part of what was meant to be a “peaceful”
demonstration, but turned out to be any-

©

thing but peaceful. Of course, on such an
occasion, Fox Hill MP Fred Mitchell had to
get in his own snide remark about paid
demonstrators. “Aside from that being
untrue, so what if they were paid?" he asked,
referring to the practice during the PLP's
early protests in the 1960s.

"To mobilise people takes resources: food,
buses, and communication, emergency care
to name a few of the possible expenses.

"So let's not get distracted by that fact.”

We don’t intend to get distracted by that
fact, nor were the police to be distracted.
Upset by another remark made in another
context by Mr Mitchell about police reports,
Police Staff Association president Dwight
Smith stepped in to confirm on Friday that
criminally-minded people were overheard
to say that they had been paid to partici-
pate in the February 23 protest. And, he
added, it was undeniable that there were
people in the crowd with potential criminal
motives. Mr Smith urged politicians to stop
policising issues. Police already had a difficult
crime problem to deal with, they had no
need for politicians to add to their responsi-
bilities.

The leader of the Opposition’s office is
located in the Baypar! building, as are sev-
eral other offices, including the Ministry of
Tourism. Reports from eyewitnesses and
eavesdroppers tell the following tale:

After the court gave its ruling on the Eliz-
abeth Estate election case, a group of per-
sons lined the stairs leading the door of the
Opposition’s office. Among them was a
“gentleman” who is extremely well known to
the police. The persons on the stairs made it
known to everyone within earshot that they
were there for their “f--- money!” Someone
opened the Opposition door and gave them
some money. They were not satisfied. “Lis-
ten,” said their spokesman, “we did what
you asked us to do, now we want our mon-
ey!” They were shouting the names of two
MPs. They demanded to see them. Mr
Christie was not one of them.

About a week ago Wednesday, after the
recent demonstration, a group of boys were
again outside the same office, asking for a
certain PLP politician — again not Mr
Christie. This time they were demanding
their money for the part they had played in
the Bay Street demonstration.

Persons who were there described a scene
that suggested that these persons needed
money to reimburse them for more than Mr
Mitchell’s necessary bus ride to get to the site
of the action.

COMMONWEALTH BANK

DIVIDEND NOTICE

TO ALL SHAR EHOLDERS

The Board of Directors of Commonwealth Bank Limited has
Declared a Quarterly Dividend for Common, “A”, “B”, “C’, “D’,
“EB”, “F”, “G”, “H” and “I” Preference Shares, to all shareholders

of record at March 21, 2011, as follows:-

Common

“A” Preference
“B” Preference
“C” Preference
“D” Preference
“E” Preference
“F” Preference
“G” Preference
“H” Preference
“’? Preference

6c per share
7% per
7% pe rf annum payable quarterly
7% pe r annum payable quarterly
7% per annum payable quarterly

7% per annum payable quarterly

7% per annum payable quarterly

7% pe r annum payable quarterly
7% pe r annum payable quarterly
7% pe r annum payable quarterly

annum payable quarterly

The payment will be made on March 31, 2011 through
Bahamas Central Securities Depository, the Registrar & Transfer
Agent, in the usual manner.

Charlene A. Bosfield
Corporate Secretary

Leader In Personal Banking Services



Leaders should
not see poverty
and bills as an
excuse for crime

EDITOR, The Tribune.

It was good to hear the
Leader of the Opposition state
that his Party would be taking
the high road as the election
2012 campaigning begins in
earnest.

I was proud that he used the
opportunity afforded him to do
that. Apparently his deputy
leader did not get the memo.

This morning’s front page of
The Nassau Guardian has Mr
Davis suggesting “that the fail-
ure of the Free National Move-
ment administration to create
sufficient jobs to deal with the
country’s unemployment prob-
lem led to the untimely deaths
of Bahamians.”

What is implied that there
are Bahamians who commit
crimes to pay their bills, and
while that is a reality for per-
sons in many countries, it
makes a big difference in the

LETTERS

letters@tribunemedia .net



overall psyche of a nation when
those who lead use their oppor-
tunities of speaking to take the
high road.

There are persons in this
country who see poverty and
bills and excuse for doing a lot
of bad stuff, but those who lead
should not be numbered among
them. The bills are real, but this
reality should never be used by
anyone to plant seeds that will
give well-meaning individuals
the thought of “working some-
thing” if things are getting
rough, financially.

We forget that before 1967, it
was okay to live at a particular
level.

Many persons living at that
level found a way to send their

children to college, children
who became Doctors, Lawyers,
Accountants and Prime Minis-
ters.

What has happened to us
that give those who lead the
temerity, to speak to us so
offensively?

Most of what has been
gained by Bahamians has come
from hard work, and many sit-
uations can be remedied by
stepping back and scheduling
our priorities instead of priori-
tizing our schedule; doing what
is best for ourselves and our
country.

If we are to succeed, those
who lead are going to have to
put their best foot forward,
instead of putting their foot “in
it”, just to make a point.

EDWARD
HUTCHESON
Nassau,

March 10, 2011.

There is no discrimination or special privilege
practised hy National Museum of The Bahamas

EDITOR, The Tribune.

In a letter to the Minister of Tourism and
Aviation published in your February 8th issue,
Mr Rodney Moncur asserted that the Antiquities
Monuments and Museum Corporation practised
discrimination against him and provided special
privileges for some users of the facilities at Fort

Charlotte.

These accusations are categorically denied and
by way of background, the following overview of
the Corporation’s policy, of which Mr Moncur
should be well aware, is provided.

Some time ago, we received advice from a
conservation consultant to the effect that the
exposure of the Fort to emissions from vehicles

When the fee structure was introduced at Fort
Charlotte in 2005, the decision was made to have

only the prepaid tours (conducted by the
Bahamas Taxi Cab Union, Leisure Tours and
Majestic Tours) drive through, drop off passen-
gers and collect them from the parking lot.

Mr Moncur should be able to appreciate that
the management and control of this historic site
rely on the cooperation and support of visitors
who benefit from the cultural experience pro-

vided by the guided tours that are available.

He cannot be expected to drive through the
Fort at will and I repeat: there is no discrimina-
tion or special privilege executed by the Nation-
al Museum of The Bahamas.

had to be decreased in order to preserve the

structure.

As a consequence it was agreed that vehicular
traffic within the environs would be reduced.

Time to stop these speeding vehicles

EDITOR, The Tribune.

Well this takes the cake, on Thursday, March 10, I was travel-
ling north on Mackey Street in the area of K.F.C when to my sur-
prise there was a jitney travelling south on the sidewalk which is on
the west side of Mackey Street, To me this is a new one, the bus was

no.1.

This morning I read a letter to the editor from Mr Peter Dupuch
concerning the police vehicles that travel the Eastern Road on a

CHAIRMAN
Nassau,
March 7, 2011.

ua
TETAS ACS

Hite dU) gti)
Na



daily basis. I too am extremely concerned that someone will soon

be killed by (especially the bus) these vehicles. Can someone

EDITOR, The Tribune.

please explain why these vehicles must travel at breakneck speeds

to take prisoners back to Fox Hill prison.

When I am in my truck my windows are rolled up and, the radio
on (as most people do). You can’t hear these vehicles until they are
right on you and, sometimes traffic is so close that you can’t move
to the side so quickly, and that big bus goes through swerving
and rocking, could they not travel that area at 10 mph and arrive
safely, and give other drivers time to move to the side.

It is time the Minister in charge acts promptly to correct this jit-
ney situation; and the Commissioner acts to correct these speeding
vehicles that will eventually kill someone if action is not taken
promptly, and then sorry will not be good enough.

BILLY SANDS
Nassau,
March 12, 2011.

Here are some of the founders of
The Black Point
Development Association.

We were grateful to serve in that
capacity over the few years
we have served.



It seems not only do some
of our journalists try desper-
ately to change history now
politicians are trying.

I recall vividly that the
Bahamas enjoyed an excep-
tionally positive relationship
with Taiwan even under the
1992 FNM Government
however along came the
opportunity for the potential
massive investment in
Grand Bahama by Hutchin-
son-Whampao and rational-
ly the FNM Government
decided unconditionally nor
requested to recognise the
single China position and we
recognised The People’s
Republic of China.

After the 2002 election
when the FNM was defeated
the PLP continued the recip-
rocal relations with Beijing
in fact the PLP obtained the
massive gift of a $40 million
stadium which is close to
completion.

For anyone to try to
rewrite history which is well
documented is a travesty.
Baha Mar proposal started
in 2005.

The Bahamas had recog-
nised the People’s Republic
of China for 10-years + or as
we all say today more than a
decade!

All in the same week we
watched the drivel Gaddafi
spewed out at his never end-
ing Press conferences the
most ludicrous statement
was that his people love
him!

The Prime Minister
should have said concerning
Baha Mar that the Izmerl-
lians could not have devel-
oped the project without the
heavy investment of the Chi-
nese — now that’s fact !

ABRAHAM MOSS
Nassau,
March 5, 2011.



THE TRIBUNE



LOCAL NEWS

MONDAY, MARCH 14, 2011, PAGE 5



FNM defends former
senator’s appointment
to Lands and Surveys
Department post

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

THE Free National Move-
ment yesterday defended the
appointment of former FNM
Senator Johnley Ferguson to a
consultancy position at the
Department of Lands and Sur-
veys against suggestions from a
third party that the appointment
represents "an abuse of the pub-
lic's finances and trust”.

The National Development
Party (NDP) on Friday issued a
statement questioning Mr Fer-
guson's appointment to the con-
sultancy post. It suggested the
consultancy was a "phantom
position for a political opera-
tive”.

Mr Ferguson retired from the
Senate effective February 14,
leaving his post as vice president
of the Senate. He was replaced
by former Elizabeth constituen-
cy candidate, Dr Duane Sands.

The NDP's statement ques-
tioned "what qualifies" Mr Fer-
guson to be eligible to advise the
Department, whether the post
was "created for him", what
"unmet needs" existed to be
served by the consultancy and
how much Mr Ferguson is to be
paid.

"There are many questions
that this appointment begs,” said
the NDP.

It called on the government
to release Mr Ferguson's con-
tract for public scrutiny, along
with his salary. The party sug-
gested it is "irresponsible for the
Prime Minister and his FNM
government who find it easy to
fire ZNS and BTC workers to
create phantom positions for
their political operatives".

In response, both Minister of
State for Lands and Local Gov-
ernment, Byran Woodside, and
FNM Chairman Carl Bethel said
Mr Ferguson's background as a
dedicated public servant with a
history of serving in the Family
Islands makes him a clear pick
for the advising post.

Both denied suggestions the
appointment was in any way
improper or not in the public's
interest.

Mr Woodside said the NDP
“should have done their home-
work" before making such a
claim.



FORMER FNM SENATOR Johnley
Ferguson was appointed to a con-
sultancy position at the Depart-
ment of Lands and Surveys.

"He is a former Family Island
administrator as well a consum-
mate public servant so the fit is
quite a good one," said the Min-
ister.

Mr Woodside, who is attend-
ing the Commonwealth Local
Government Forum in the UK,
said: “Mr Ferguson’s contract is
for two years and will see him
advising on land issues, with par-
ticular attention being given to
the application process and how
best to speed up the application
process for Bahamians applying
for crown land, and also serving
as the adviser to myself with
respect to the introduction of
local government in New Provi-
dence.”

The introduction of local gov-
ernment in New Providence was
a manifesto commitment of the
FNM in the 2007 election but
Prime Minister Hubert Ingra-
ham has since stated that it will
not happen in this term due to
other economic challenges that
arose.

Yesterday, Mr Woodside said
that although the introduction
of local government "won't hap-
pen this year, we still have to
plan for it”.

Speaking to Mr Ferguson's
ability to successfully advise the

Department of Lands and Sur-
veys, Mr Bethel added: "Any-
one who takes even a cursory
look at Johnley Ferguson's
resume would see he is an expe-
rienced educator and former
family island administrator who
has served throughout length
and breadth of Family Island for
decades.”

He suggested that one of the
"primary areas in which Mr Fer-
guson's expertise will be utilised"
during his consultancy will be in
the implementation of the pro-
visions of the Land Adjudica-
tion Bill 2010, which has been
tabled in Parliament but not yet
passed. The Bill seeks to empow-
er Bahamians who may have
claims to generational land
through facilitating their access
to legal title.

Asked if Mr Ferguson's
appointment indicates that the
Department of Lands and Sur-
veys did not have the necessary
expertise and human resources
to undertake this work in-house,
Mr Bethel said the implementa-
tion of the provisions of the law
would require "new focus" that
the Department would not have
been able to provide without
neglecting other already estab-
lished duties.

"To say you have to drop
everything and focus on this,
what does that do for the func-
tions they are performing
already?

“Sometimes when any gov-
ernment is moving to imple-
ment a new or revolutionary ini-
tiative you have to give it new
focus.”

As to whether the govern-
ment would be willing to publi-
cise Mr Ferguson's contract and
salary, Mr Bethel said a review
of the budget would reveal his
remuneration but the govern-
ment would not seek to "put
people's business on public dis-
play on a political whim for
someone trying to score cheap
political points”.

ie
ea tT:

Bee tal
PHONE: 322-2157



JUST WEST OF CITY MARKET, TONIQUE DARLING HIGHWAY

ae

SHH HI!
Don't Tell Anyone,

for Government Workers

‘Bluebirds *HondaAccord «Honda Civic
"Honda Fit «Honda Mini Vans «Honda Stream
PCE Oy COG a ral ee

eta

Our

Of Pre-Owned Honda Accords,
Civics and Nissans have arrived.

MONTHLY

PAYMENTS
STARTING AS LOW AS

$280

TEL: (242) 341-0449 + (242) 341-2249 * FAX: (242) 361-1136

Visit our Website: www.autohl.com



PUSHIN DA ENVELOP
By Jamaal Rolle

sneake

Rosetta St.



IZES 7-10

JOXX

Ph:325-3336



PAGE 6, MONDAY, MARCH 14, 2011

THE TRIBUNE



LOCAL NEWS

MP: URCA’s decision on BTC
‘not worth paper it’s written on

FOX Hill MP Fred Mitchell
has criticised URCA’s decision
to allow 51 per cent of BTC to
be sold to Cable and Wireless,
stating the decision was not
worth the paper it was written
on.

“The decision of URCA
reads like a legal treatise,” Mr
Mitchell said.

“It is no doubt designed in
that way to show that all mat-
ters have been fully and judi-
cially considered by them in
order to satisfy the legal
requirements for fairness. The
difficulty is that the decision is a
sheep in wolves’ clothing. It is
all dressed up in legal clothes
but is redolent of unfairness. It
does not pass the smell test.

“In other words, no amount
of legalisms or neologisms can
deny the fact that the decision
makers in this matter are too
proximate to Cable and Wire-
less and ca not to the reason-
able man dispassionately, fairly
or judicially make a decision
on any matter with regard to
Cable and Wireless.

Mitchell speaks out over decision
on sale to Cable and Wireless

“The atmosphere at URCA
is redolent of Cable and Wire-
less. Indeed, the whole legisla-
tive structure and communica-
tions policy and the fact of how
Cable and Wireless was invited
into this process smells to high
heaven. In that regard the deci-
sion is fatally flawed,” he said.

Mr Mitchell said this deci-
sion reminds him of the logic
and legal framework put up to
support the apartheid regime
in South Africa. The authori-
ties there he said, used to arrest
Africans for violating those
laws, despite the fact that those
laws were “immoral”.

“You can not build a moral
structure on an immoral
premise so breaking those laws
was acceptable. It is the same
here with URCA. The history
of the Communications Act,
the URCA Act is such that
those who designed it and now

run it are former employees or
consultants of Cable and Wire-
less. Who would in those cir-
cumstances believe that the
decision made by URCA which
involves Cable and Wireless in
this regard to a fair and rational
one?

“URCA rejected the asser-
tion that it was bound not to
be party to an unconstitutional
result. It took note of a case
from Dominica at the Privy
Council saying that the Privy
Council did not finally pro-
nounce upon the matter.
Unfortunately, they did not
bother to ask for additional
details. If they had, they would
have seen how they missed the
mark. The matter of this deci-
sion was made with such inde-
cent haste that they did not
bother to be informed properly
about the law. No public body
should be party to an unconsti-

tutional result.

“The public ought to care-
fully review whether or not
URCA in making this decision
was in fact motivated by con-
forming to the government's
announced timetable for this
deal as opposed to their leg-
islative responsibility. In my
earlier statement, I referred to
a comment made by the Prime
Minister who indicated that he
would cause the government to
write URCA to tell them that
they must conform to the gov-
ernment’s policy on hiring for-
eigners. I said then if the Prime
Minister can give a directive to
URCA on that, on what else
can he give a directive?

“It is therefore very much a
matter for URCA to have
referred this matter to all the
parties to address the issues
before making a decision. They
ought to have ordered an in
depth investigation at the very
least pursuant to the Commu-
nications Act, Section 78. One
needs only point out to URCA
that in citing the case from

THE COLLEGE OF THE BAHAMAS

Visit our website at www.cob.edu.bs

School of Chemistry, Environmental and Life Sciences

Small Island Sustainability Programme

presents

a Town Hall Meeting with

Mr. Brian Kakuk

Director of The Bahamas Caves Research Foundation (BCRF) on

the topic: “Blue Holes in The Bahamas:

Exploration, Research and Conservation of a Unique
Bahamian Resource”

Date: Tuesday, March 15th, 2011

Time: 6:00 p.m.

Location: The College of The Bahamas
Performing Arts Centre, Oakes Field

For more information contact: 302-4400









Sti

Ne.

)- YES, WE'RE OPENI

The same friendly, helpful staff are here to assist you
from 8am - 4:30pm Monday-Friday

NOW OPEN ON SATURDAYS FROM 8AM - 12 NOON

We’re now 2 blocks east of the old Betty K Offices

in the House of Mosko building, Bay & Victoria Streets

MIAMI OFFICE

Now docking at Arawak Cay

WEEKLY ----2 SAILINGS - MIAMI TO NASSAU

leaves Sundays, arrives Mondays
leaves Wednesdays, arrives Thursdays

WEEKLY ----1 SAILING - NASSAU TO MARSH HARBOUR

leaves Mondays, arrives Tuesdays

t 305-635-4650 f 305-635-4651

3701 NW South River Drive (opp old Dollar Car Rental)
OPEN 7 DAYS/WK Mon - Sat 8am - 7pm, Sundays 12 noon - 7pm

In Nassau - 1 322-2142 © 322-2875 ¢ 322-2813 f 322-6089

Nassau Freight Warehouse 322-8926 www. bettyk.com





Dominica and dismissing it out
of hand, they ought to have
asked themselves the question
which follows on a counter fac-
tual basis. If they had found
that the Privy Council pro-
nounced definitively on the
matter, and knowing that it was
unconstitutional, would they
then still have come to the same
result? The answer must clear-
ly be no. It follows then that
the decision that URCA is not
competent to determine this
point is wrong in law,” he said.
In addition, Mr Mitchell said
there is also an effect on com-
petition. In his opinion, the Fox
Hill MP said there are several
ways to deal with this matter.
“One is the Court of Law by
judicial review. The other is by
an appeal to the Utilities



FOX HILL MP Fred Mitchell spoke
out against URCA’s decision

Appeal Tribunal (UAT), a spe-
cial tribunal set up under the
Communications Act to deal
with appeals. The other is an
appeal to the Court of Public
Opinion and fourthly, a com-
bination of all of the above. The
matter is being studied by me
and the lawyers and party
members who joined me in my
objection with a view to taking
the matter further,” he said.

KEMP’S FUNERAL HOME LIMITED

22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas

MR. GEORGE

S. MOSES

of Eastern Road,
Nassau, The Bahamas,
died at his residence on
Thursday, 10th March,
2011.

Mr. Moses was the former proprietor of K.
S. Moses and Sons, Bay Street, Nassau.

In lieu of flowers, donations may be made
to Sacred Heart Roman Catholic Church,
P.O. Box SS-5913, Nassau In Memory of

Mr. George S. Moses.

Funeral arrangements will be announced at

a later date.

Arrangements by Kemp’s Funeral Home
Limited, 22 Palmdale Avenue, Nassau, The
Bahamas. Telephone - 393-2022.



| PRODUCTION MANAGER |

A commercial bakery requires the services
of a Production Manager.

THE SUCCESSFUL CANDIDATE:

Must be an experienced manager with
good people skills

Must be computer literate and have had
inventory control experience

Must have experience in ordering and
monitoring raw materials

Previous bakery production/managerial
experience would be an asset

Please send resume to: bakeryhr@aol.com



PRIME OFFICE SPACE

Approximately 2,200 square feet of second
floor space 1s available in newly constructed
building at the corner of Marlborough and

Cumberland Streets.

Two (2) on-site car spaces included.

Ideal _ location

for

offshore bank,

trust company, law or accounting firm, or

other professions.

Contact Owner at 362-5787





THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 7



FNM describes Perry Christie as ‘the Greatest Pretender’

PLP Leader Perry Christie
was described yesterday by
the FNM as being “the
Greatest Pretender” in a part
of great pretenders.

In their latest commentary,
the FNM said their party
leader Hubert Ingraham is
aptly referenced at party ral-
lies with the popular Tina
Turner song, “Simply the
Best” as it embodies his
“extraordinary record of pub-
lic service and accomplish-
ments”.

In comparison however,
the FNM said Mr Christie’s
theme music at the PLP’s
Golden Gates rally should
have been “The Great Pre-
tender”.

“Even as the Government
rapidly mobilised and
responded with jobs, bene-
fits, training and counseling
for those laid off at the Our
Lucaya Hotel, the Leader of
the Opposition quickly
popped in and out of Grand
Bahama to take advantage of
the anxiety and loss of those
who had just lost their jobs.

“Great Pretender Perry
Christie pretended to care
about the workers and their
families. But he did not find
the time to actually go and



PLP LEADER PERRY CHRISTIE
was criticised by the FNM

meet with them. He was too
busy shedding his own croco-
dile tears instead of drying
the tears of those recently
unemployed.

“The same man who pre-
tended to care about the for-
mer employees of Our
Lucaya also pretended to
care about the 1,200 workers
who were laid off from the
Royal Oasis in 2004. Despite
his talk back then, he and his

government did absolutely
nothing to respond to one of
the worst lay-offs ever in
Grand Bahama.

“He now says another PLP
government would give “spe-
cial attention” to Grand
Bahama. Where was that
“special attention” when they
were last in office? Grand
Bahamians know what the
Opposition means by “spe-
cial attention”, having been
abandoned by the PLP over
and over again including in
the rebuilding efforts after
various hurricanes,” the par-
ty said.

The FNM went on to add
that Mr Christie also aban-
doned the Sea Hauler victims
and senior citizens by failing
to initiate a prescription drug
benefit.

“He and his party pretend
to care but usually fail to act.
This is the party and the
leader who sat silently and
passively as one of their
major supporters tore down a
place of worship and family
homes. This is compassion
PLP style.

“Mr Christie is now
promising the same hope and
help he failed to provide dur-
ing five disastrous years in

office. Bahamians know bet-
ter than to trust such an emp-
ty promise from the Great
Pretender who could not get
around to spending the
$100,000 grant for MPs on his
constituents in Farm Road.

“During the rally in Gold-
en Gates, Mr Christie pre-
tended that he was above the
attack and smear politics of
Bradley Roberts whom he
anointed as Chairman of the
PLP. But as much as he may
try and pretend, he failed to
rebuke his operatives for par-
ticipating in an out-of-control
demonstration with known
violent criminals.

“He sits by while one of his
senior colleagues attacks the
integrity of the Special Intel-
ligence Branch. He remains
silent when his Deputy false-
ly and shamefully blames the
FNM for suicides. He is pre-
siding over a party of extrem-
ists.

“Mr Christie, the Great
Pretender, also keeps pre-
tending to be a great democ-
rat, yet he is willing to toler-
ate and excuse behaviour
bordering on undemocratic
including a demonstration
which threatened the House
of Assembly. The most

Call for Mitchell apology over SIB comments



THE FREE National Move-
ment (FNM) called on PLP MP
Fred Mitchell to apologise for
his attack on the integrity of
the Special Intelligence Branch
of the Royal Bahamas Police
Force.

In a press statement, the
FNM said that after his attack,
Mr Mitchell has now sought to
deny his comments after the
Police Staff Association’s chair-
man “rightly” criticised his
comments.

“On March 8, Mr Mitchell
said of the SIB: ‘In any event, I
have a view which I espoused as
minister and I still hold and that
is that SIB reports are often
based on gossip and trivia and
are elevated in the minds of the
bureaucracy to too high a level.’

“Two days later on March

10, after justifiable criticism
from the Staff Association and
others, Mr Mitchell sought to
twist his own words and to deny
the clear meaning of his earlier
comments. His statement read
in part: ‘I at first declined to
comment but upon more
mature consideration what I
wish to say is that any and all of
the comments made by me at
any time are directed at politi-
cians and policies and not at
public servants. The comments
are about public policy. That
should be crystal clear from the
content and context of the
remarks.’

“What is crystal clear,” the
FNM said, “is that Mr Mitchell
said that the reports themselves
are often based on gossip and
trivia, directly impugning the

ae ree

integrity of those who produce
the reports. Further, he
launched an attack on the wider
bureaucracy and not singularly
political leaders and public pol-
Icy.

“His prior statement refutes
his later attempt to walk back
his earlier reckless comments.
By attempting to deny his own
words, Mr Mitchell is now sug-
gesting that the Police Staff
Association and others simply
misunderstood what he was
saying. This is an additional
insult added to the injury of his
earlier rash statement,” the par-
ty noted.

In his second statement, the
FNM highlighted that the Fox
Hill MP only responded after
“mature consideration”.

“The mature thing to have

ahi

done was not to launch an
attack on the Police in the first
place. Further, after launching
such an attack, he should have
had enough maturity to apolo-
gise to the Royal Bahamas
Police Force,” the party said.

When contacted for com-
ment yesterday, Mr Mitchell
said he will be answering the
Police Staff Association “and
the FNM together” on Tues-
day with a “full and frank state-
ment”.

ral
TESTING

CEL UL:
evi aI Le



service f0 a higher level!

extreme forces in the PLP are
now in control of the Oppo-
sition.

“The Great Pretender has
stacked the National Con-
vention, his party’s highest
body, with hundreds of Stal-
wart Councilors personally
loyal to him. This means that
the PLP’s elected branch rep-
resentatives are always out-
numbered and are sub-

servient to Mr Christie’s
needs.

“Today, even after promis-
ing yet another remake of the
PLP, Mr Christie seems set
to run the same scandal-rid-
den and incompetent people
in the next election. One can’t
pretend to be a rose when
one continues to surround
oneself with poison weed and
bad apples,” the FNM said.

The Coming of the Kingdow

Luke 17:20-37

Now when He was asked by the Pharisees when
the kingdom of God would come, He answered
them and said, “The kingdom of God does not
come with observation;nor will they say, ‘See
herel’ or ‘See there!’[d] For indeed, the king-
dom of God is within you.” Then He said to the
disciples, “The days will come when you will
desire to see one of the days of the Son of Man,
and you will not see it. And they will say to you,
‘Look here!’ or ‘Look there!’[e] Do not go after
them or follow them. For as the lightning that
flashes out of one part under heaven shines to
the other part under heaven, so also the Son of
Man will be in His day. But first He must suffer
many things and be rejected by this genera-
tion. And as it was in the days of Noah, so it will
be also in the days of the Son of Man: They ate,
they drank, they married wives, they were giv-
en in marriage, until the day that Noah entered
the ark, and the flood came and destroyed
them all. Likewise as it was also in the days
of Lot: They ate, they drank, they bought, they
sold, they planted, they built; but on the day
that Lot went out of Sodom it rained fire and
brimstone from heaven and destroyed them
all.Even so will it be in the day when the Son
of Man is revealed. “In that day, he who is on
the housetop, and his goods are in the house,
let him not come down to take them away. And
likewise the one who is in the field, let him not
turn back. Remember Lot’s wife.Whoever seeks
to save his life will lose it, and whoever loses
his life will preserve it.| tell you, in that night
there will be two men in one bed: the one will
be taken and the other will be left. Two women
will be grinding together: the one will be taken
and the other left. Two men will be in the field:
the one will be taken and the other left.”[fJAnd
they answered and said to Him, “Where, Lord?”
So He said to them, “Wherever the body is,
there the eagles will be gathered together.”



pd

ig Se
res bs



Lickety Split Ice Cream and Deli staff from all three locations (RND Plaza West, Carmichael Rd. and Village Rd.) recently completed
aS-month comprehensive training program, culminating ina gala Awards, Certificate presentation dinner at the British Colonial Hotel.

Managing Director, lewellyn Burrows set this achievement as a goal for the company with the intention of bringing the standard of service to
a higher level. In consideration of the economic downtum, he felt that the key to success was to invest in human resources. If every customer is happy
and satisfied with the services and products they receive, Lickety Split can continue to look forward to a steady stream of repeat customers.

Over the years the company has recognized that training is an ongoing process and has invested substantially in training programs,
tailored to meet the specific needs of the “the fun, leisure food business.”, For this recent training excersize, Lickety Split contracted
the services of veteran Human Resources Professional and Expert Trainer Agatha Marcelle.

At the Awards/Certificate presentation dinner each Manager received a Management Special Competency Certification (M.5.C.C.), every Supervisor
received a Supervisory Special Competency Certification (5.5.0.0) and each Line Employee received a Line Special Competency Certification (L-S.C.C.).

Awards handed during the evening included Employee of the Year, presented to Samantha Adderley, Supervisor of the Year, presented to Vanessa Bowe,

G07) ADVE.

Manager of the Year, presented to Robertha Forbes, Eager Beaver Award (Most Improved), presented to Vanessa Bowe, Lickety Split Amity Award,

presented to Kendra Poitier and Lickety Split Customer Service Award, presented to Monica Williams.



PAGE 8, MONDAY, MARCH 14, 2011 THE TRIBUNE

LOCAL NEWS

Royal Bahamas Police
Force National Crime

WAREHOUSE SALE

Dates: Thursday and Friday, March 17” and 18°, 2011
Place: Security Storage Limited, Nassau Street
Opposite Western Cemetery Parking Lot

Time: 10:00am - 4:00pm

Office Furnitures and Machines
Computers and Computer Equipments
Filing Cabinets

Stationeries

Limited amount of Home Furnitures
Other Supplies and Miscellaneous

ALL ITEMS WILL BE SOLD AS IS.

THE GENERAL PUBLIC
IS INVITED



CREDIT SUISSE

Credit Suisse AG, Nassau Branch

is presently considering applications for a
Senior Globus System Developer

The position is open to candidates with the following
minimum requirements:

Qualifications:

-At least Five (8) years experience in installation, configuration and
troubleshooting in a banking environment

-Superior knowledge of GLOBUS/T24 Banking Application in both
support and development roles

-Bachelor of Science degree in Computer Science or equivalent
-Knowledge of AIX 5.1 — 5.3, UNIVERSE/JBASE, PL/SQL
-Experience in working with Globus/T 24 related migration

or implementation projects.

Personal Qualities:

-Excellent organizational, interpersonal and communication skills
-Good technical and problem solving skills and experience
-Ability to work under pressure and with minimum supervision

-Enthusiasm, a positive attitude and willingness to work flexible hours

as overtime
-Previous experience of working in a production support role in
maintaining Globus/T 24 system is a plus.

Other Duties:

-Answer Helpdesk requests (provide support & troubleshoot)
-Provide jbase & GLOBUS training to IT Staff

-Ensure compliance to IT guidelines / directives

-Ensure that “Business Contingency Planning” requirements are followed

-Other duties & projects assigned by the Manager of Department

Benefits provided include:
- Competitive salary and performance bonus
- Pension Plan
- Health and Life Insurance
Ongoing internal and external career development/training program

APPLICATIONS MUST BE IN WRITING. Persons not meeting the

minimum requirements need not apply.

Applications should be submitted to:
Human Resources Department
P.O. Box N-4928
Nassau, Bahamas

DEADLINE: March 18, 2011



Prevention Office: Home
invasion survival ape

By CONSTABLE 3011
MAKELLE PINDER

THERE is no right or
wrong way to protect you
and your family during a
home invasion. However
when your home security is
broken, the objective is to
escape alive.

Hence, the best defence
against a home invasion is
prevention, including family
education and planning.
One family meeting to dis-
cuss general rules and pro-
cedures may save a life in
years to come.

Therefore the police sug-
gest that the following pre-
cautions are taken into con-
sideration and utilised:

Parents should teach chil-
dren how to answer or not
answer the phone or a
knock on the door in the
scenarios of parents being
home or away.

Don’t forget to teach kids
the basics, such as always
locking the doors and win-
dows before leaving home
and anyone could be at the
door.

The weakest home securi-
ty link is failing to lock doors
or windows and opening the
door without question at the
sound of a knock or ring of
the door bell.

Teach your children how
to dial 9-1-1 at a young age
while explaining the appro-
priate situation to dial.

THE OPTIONS OF
RESPONSE:

e Escaping immediately,
saving yourself - This option

Course Description:



decreases the amount of
time the burglars have to
complete their job while
having their privacy leaked.
Some refuse to look like a
coward by leaving their fam-
ily in danger, however, rad-
ical actions may pay off lat-
er if you are able to imme-
diately get help.

¢ Fighting and screaming
— Screaming and yelling
works well if there are
neighbors close by or in a
public area. There is no pur-
pose in fighting if you are
physically incapable. If fight-
ing, make a strong, forceful
hit to the nose, eyes, throat
or groin area. This will give
a small window of time to
escape and call for help

¢Compliance with bur-
glars — This allows more
time to think of an effective
plan of action while creat-



ing an escape opportunity
once the burglars let their
guard down.

¢ Pulling a weapon on an
armed intruder -— This
option should be your last
resort, most times house
hold weapons are not
loaded for child safety, so in
the rare occasion you have
access to a loaded fire arm,
be aware the burglar is just
as desperate and often will
not hold back.

Remember that No mat-
ter what option you choose,
make sure you stay calm and
put thought into your
actions because it will affect
everyone surrounding you.

Should you need more
information and before your
home security is broken and
invaded, please pay close
attention to the information
provided.

Or if you have informa-
tion pertaining to any crime,
please do not hesitate to
contact the police at ‘919’ or
Crime Stoppers at 328-tips
(New Providence), 1-300-
8476 (Family Island)

journer-

ouglass (ollege

“Bringing Opportunity to the Community”

A Master Class Series

Beginning March 2011 - 2% Day Master Class in
INSTRUCTION OF READING

ei by Stal then Ph.D.

Reading is the active process of constructing meaning from written teed in relation fo the student's experience
and knowledge. The key to successtul literacy instruction is tha teacher, and the course inkroduces tha
teacher to fe techniques and principles of teaching Reading. The focus is on equipping the Reading teacher
fo use a vanaty of taeching approaches, strategies and matenals ina balanced Reading program. ftenhences
fhe teacher's abiily to undershand Students as lamers and lo view reading and writing a crilical components

of the dewelopmertal process:

Some Topics to Be Covered:
* Theory and principles of reading
* Strategies that develop phonological and
phonemic awareness tor English speaking

students

Tha use of various spelling pattems

Tectiniques for assisting siudenis to develop
word recognition skill through the use
of sight words, context clues, structural
analysis, and dictionary study

Techniques for teaching high frequency
funcional words, phonetically ireguiar

Participants will receive:
* Course matevials
* Cerificate of Completion
* 3 Graduale-eve credits (applicable towards
the Master's degree in Reading)

Who Should Attend:
* Locel and regional stakeholders presently in
the K-12 school systam

* Individuals aspiring to become Reading

teachers

words, and conbent specific: works

+ Effective teaching strategies tor distinguishing
babveen dierent consonant and vowel

combinations

* Private Reading instructorstutors

COURSE FEES:
Early Bird Teele Po 250.00

(valid io March 7th, 201

Techniques, equipment and materials for

aoprodniale application of word skills and

alr
+» Offer Topical Issues

eres aile a ap

Fy meio] 08) 8

International/Other: $1,500.00 :

NOWw!!

Class Dates Are: Friday 1th, March (€-10pm), Saturday 19th March (Sam-tpm), Sunday 20th March (Sam-fpm)

dnd Floor, Gold Circe House | Tel.:
aE
Gi E A Sarno

Pre on Ere et
Peer rns. re)
es Pre ean beta bett shear |





THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 9



CARICOM Chairman should
act to end airlines stand-off

insight

WORLD VIEW

By SIR RONALD
SANDERS

(The writer is a consultant
and former Caribbean
diplomat)

TRAVELLERS in the
Caribbean appear set for a
turbulent time because of the
apparent stand-off between
the Trinidad and Tobago
owned, Caribbean Airlines
Ltd (CAL) and the smaller
carrier, LIAT, whose share-
holders are the governments
of Antigua and Barbuda,
Barbados and St Vincent and
the Grenadines.

There is no question that,
for many of the countries of
the smaller Caribbean coun-
tries, LIAT is an essential
service. It has also become
important for traffic to
Guyana of North American
and European tourists and
nationals visiting from
abroad who can get as far as
Barbados via bigger airlines.

There is also no question
that — however brave a face
is put on it —- LIAT’s ability
to continue to fly without
subsidies from its sharehold-
er governments is in grave
doubt. And, the possibility
of its shareholder govern-
ments putting money into
LIAT is pretty remote since
all three of them are
strapped for cash. Borrow-
ing on commercial terms is
also not a viable option in
today’s market, particularly
if such borrowing is based on
a need to compete against
CAL on certain Caribbean
routes. CAL has made it
clear that it intends to fly
some of the routes now oper-
ated by LIAT.

In the past, LIAT relied
heavily on loans and subsi-
dies from shareholder gov-
ernments, but over the last
four years it has paid its own
way with no government
having to give it a hand-out.
Indeed, LIAT’s landing fees
to Caribbean governments
have been a source of rev-
enues to the airports in all
countries that its serves. In
Barbados, for instance,
LIAT operates approxi-
mately 30 landings a day,
making it the largest single
source of landing fees. The
same is true for Antigua and
Barbuda, and for most of its
eastern Caribbean destina-
tions.

But the situation is now
changing. LIAT has had to
increase its fares because of
increased costs, not least
among them the cost of avi-
ation fuel. The airline has an
aging fleet in need of renew-
al. Experts put the capital
cost of renewal of the fleet at
approximately US$300 mil-
lion. LIATs home market,
the Eastern Caribbean, is
itself undergoing a period of
economic recession with only
limited possibilities for short
term economic growth.

Any new competition
from CAL will worsen
LIAT’s financial problems
and probably push it over
the edge, particularly as
CAL gets a fuel subsidy from
the government of Trinidad
and Tobago while LIAT
pays market price. CAL’s
fuel subsidy — erroneously
described as a “fuel hedge”
is quite significant. Accord-
ing to Trinidad and
Tobago’s’ Finance Minister
Winston Dookeran, CAL’s
fuel subsidy claims to the
Government for the years
2008, 2009 and 2010 amount-
ed to $43.69 million

In this regard, Prime Min-
ister Ralph Gonsalves of St
Vincent and the Grenadines
is perfectly correct when he
asserts the absence of a level
playing field in any competi-
tion between LIAT and
CAL.

Gonsalves has also spo-
ken of LIAT introducing a
mix of aircraft and flying
routes to Miami and New

York. This is more a con-
summation devoutly to be
wished than a prospect
grounded in any reality.
LIAT would not only have
to compete on these routes
with CAL which benefits
from a fuel subsidy, it would
also compete with American
Airlines which several gov-
ernments in the region are
known to give subsidies in
order to guarantee their
flights. Since no Caribbean
government has shown itself
willing to provide a subsidy
to LIAT to guarantee its
intra-Caribbean flights, they
are most unlikely to make
any contribution toward
LIAT?’s wider explorations
to New York and Miami.

Regional airlines experts
point out that CAL has noth-
ing to gain from a LIAT
acquisition, similar to the
acquisition of the Jamaica
airline, Air Jamaica. CAL
has route rights under the
CARICOM Multi-lateral Air
Services Agreement, it has
the necessary airplanes (with
the acquisition of French
ATRs), and it has a fuel sub-
sidy. What is more, it has the
support of countries like
Grenada, St Lucia and St
Kitts who are getting a ser-
vice without paying for it,
and who are not attracted to
helping pay for LIAT. Fur-
ther, CAL already flies to
Barbados and Antigua and
Barbuda. This probably
reflects the thinking of
CAL’s Board of Directors —
why pay for something that
might turn out to be an alba-
tross, if they could put it out
of business and secure a
place of dominance in the
Caribbean skies?

Given the assets of CAL,
particularly its fuel subsidy, it
could put LIAT out of busi-
ness unless LIAT secures
financing from somewhere
to allow it to meet its cur-
rent financial obligations,
upgrade its fleet and offer
passengers a competitive
price for its service.

Should that happen, CAL
would enjoy a virtual
monopoly. At that point, it is
doubtful that the Trinidad
and Tobago government
would continue the fuel sub-
sidy at its present level, if at
all. Passengers would be
expected to pay the com-
mercial costs of the airline’s
service. The end result for
the passengers — tourists and
Caribbean nationals alike —
will be high costs for intra-
regional travel. But, it could
also mean a decision by the
dominant airline to abandon
non-profitable services and
routes. Should the latter
decision be taken, some gov-
ernments would be forced to
give the airline money to



RSVP T 362 4910 or email speakerseries@lyfordcayfoundation.org



SIR RONALD SANDERS

guarantee continued service.
This is a practice many of
them now apply to foreign
carriers such as American
Airlines but they refuse to
do for regional carriers.

Clearly what is needed in
this troubling situation is a
high level consultative
process involving the princi-
pals of both CAL and LIAT
with the aim of developing
an action plan, including an
integrated business plan, for
the two carriers.

The issue is how to get the
two carriers to talk at the
level of their Boards to work
out such a plan that could be
put to their shareholder gov-
ernments. One approach
would be for the present
Chairman of CARICOM,
Grenada’s Prime Minister
Tillman Thomas, to appoint
a team of say three people,
headed by a seasoned diplo-
mat and including persons
familiar with the issues of
Caribbean airlines, to bring
representatives of the air-
lines to the table and facili-
tate the development of the
plan.

What is certain is that the
current stand-off benefits no
one, least Caribbean trav-
ellers.

Responses and previous

commentaries at:
www.sironaldsanders.com

Laster

Week 2077

PREMIER TRAVEL i

lL=

FREWIER TRAPEL AND PRINCESS
CRUISES INTRODUCE
EASTER WEEK 20F7
SPECIAL RATES!

Tel: 328-02 64 328-0257

Fax: 325-6878

Call owr canst departoent for more deta

Water!

Paes oe peer peanon, coils occupancy, muebjbect re

nreletd i) of the dine af booting!

Pon charpes DACLUIRD. Goran Ae er diol per per

Be POPUMOAELE Rares

The Mercedes-Benz C-Class

Your most enjoyable drive ever.

The Mercedes-Benz C-Class is a pleasure
to behold offering a new interpretation of
driving pleasure. Its taut lines lend it an
air 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

to external 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
to suit your taste. As you will see, the

C-Class is the perfect embodiment

of the Mercedes-Benz philosophy.

OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY
COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES
RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY.

Tyreflex Star Motors



Wulff Road, P. 0. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 * Fax 242.323.4667

Ship
Cerisbean Princess
Carisbean Princess
Carisbaan Princess

Lana Priscees.

Rsby Pings

Crown Priscegs

Crovan Princess.

Siar Princess

Emeraic] Princess

Caribbean Princess

Raby Parte

You are cordially invited to attend

Decarts

24APRI

Olay

TTAPRAt

2aAP Ht

24APRAt

JORPRAT

NEAPRAT

A presentation by Dr. David T. Conley

PROFESSOR OF EDUCATIONAL POLICY AND LEADERSHIP

Nights
“rT

oor

Inside

Outside
i)

144

Newry

Saq Juan, 8. Thomas, Dominica, Granada, Sonare,
Jiauba, at sea. Ban Juan
San Juan, §. Thomas, Aastigua, 2 days at saa, Arye
Piel Deocheyard (Bermmuria|, alec, Hew ‘Fork
San Juan, 5. Thomas, Toriola, Antiqua, Barkados, 3
Luce af be, Ban Jean
Port Lancleaciale, a axa
Heras) stand of Co
Caius, Feet Lowdenigie
Fort Laumleadale, Princess Coys, ised, 31. Wheres,
a shee Grind Turk, at saa, For Landarciele

oi La ed Cayren, isan of Hasta

1 (Weaien) at saa Frit

(Grand Cayrrae, intend of Rowan

peirel (deseo) a sea. Princesa

Cans, Fert Laude

onl Lauciesdale, at sea. Grand Gayman, island of Asatan
‘Hondures), island of Cowan (Iéleion), at saa Princess
Cae, Fed ania

ror Lasucleorkabes, 2 cya. of sees, Ardiqua, 5 Luca,

Tatedes, 9 Kits, SL Thorns, of sea, Paces Caps

"orl Laucleotbale,

Pde Viwie, 7 cheers al ges, Geared Turk, Sa Jue, 1
Figyal hewal Dioieyaed (Berrie), of

aa Mew Yi

"onl Lauciesdal, Princess Coys, alsa, 51. Masnes,

1 Themes, Grand] Tyr, at saa, For Lanseria



FOUNDER, CENTER FOR EDUCATIONAL POLICY RESEARCH, UNIVERSITY OF OREGON

treet ici (dl

NEXT STEPS FOR CREATING

A COLLEGE AND CAREER READY CULTURE BS
The rapidly changing world offers tremendous opportunities for The Bahamas é
to grow and thrive as a nation. Every Bahamian has a role in charting the path, :
including teachers, business leaders, community members, parents and students. %
This session will discuss the next steps in developing a culture of college

and career readiness in the home, school, and community.

Thursday, March 24th, 2011
7:00 pm - 9:00 pm
INDEPENDENCE BALLROOM B

SHERATON NASSAU BEACH RESORT, WEST BAY STREET

oe ATION, be



i SS
Founpat’©

4

Admission is free of charge and there will be a question and answer session

COLLEGE CONNECTIONS THE SPEAKER SERIES



PAGE 10, MONDAY, MARCH 14, 2011

THE TRIBUNE



LOCAL NEWS



Blaze at BEC power
plant compound

ey athare)

Santander

Santander Bank & Trustis accepting applications from suitably qualified
Bahamians for the following position:

COMPLIANCE ANALYST

Bachelor's Degree

Minimum 3 years experience in similar position

Knowledge of Bahamian Company and IBC Laws

Good knowledge of Bahamian financial legislation

In depth knowledge of compliance policies and procedures
Computer literate

Excellent organizational skills

Excellent communications skills

Must be highly motivated and a team player

Fluency in Spanish essential

Salary and other benefits commensurate with qualifications and
experience.

Applications in writing with details of education and experience should be
faxed or mailed by March 18, 2011 to:

Human Resources Manager
Santander Bank & Trust Ltd.
P. 0. Box N 1682

Fax: 4502 7955

Nassau, Bahamas

HPN) SPP j 4 5

oh CANA rl om Bee

Presents

The New Providence
Raheem V ie ime y ale

Under the theme

“GOD GIVES AND HIS CREATION GIVES*

fe) aH
e"The God who keeps on Giving and
the Heirs who respond generously”
Pee PATA Ceyoiire maar ysis Uae derol-WiGMCLA La]
»’M to the Third Power”

Preachers:
The Rev'd Fr. Mark Fox

BBM te Gt Tle etre ae

March 13th- 15th, 2011
7:00 p.m
St. John’s College Auditorium
Stapledon Gardens,
New Providence
Deiter dalle



FROM page one

tural damage but no one was injured, accord-
ing to preliminary reports.

The BEC power plant blaze came on the
same day that BEC announced it had offi-
cially taken over responsibility for the gen-
eration of electricity at the $70.8 million Wil-
son City power plant in Abaco from contrac-
tor MAN Diesel.

The power plant is capable of generating 48
megawatts of power and was built to address
the unreliability of power generation in the
Abaco islands, which has faltered due to the
intermittent failure of generation equipment
at the Marsh Harbour power plant.

However, the new Wilson City plant has yet
to be brought on stream on a full time basis as
its ability to fully service power demand in the
area remains hampered by the need for an
upgraded transmission line linking it to Marsh
Harbour.

The contract for the installation of that
cable has been put out to tender and BEC has
said it hopes the line will be in place in time
for Wilson City to serve peak summer power
demand in Abaco.

However, in the event it is not completed in
time, BEC Chairman Michael Moss and Envi-
ronment Minister Earl Deveaux have stated
that BEC will rely on continued use of gen-
erators at the Marsh Harbour power plant
to supplement the power supplied and ensure
demand is fully met.

BEC Chairman Michael Moss said yester-
day that this plan remains intact as the old
BEC plant suffered "no major damage per
se" as a result of the fire, with the oil drums in
one portion of the compound having caught
alight but the generation equipment being
spared.

He confirmed that immediately after the
fire a bulldozer entered the area and "extend-



ed the firebreaker" around the plant, clearing
down any remaining bush that could carry a
wildfire towards the plant.

"There should be a firebreaker," he said,
adding that he could not speak to the ade-
quacy of the protective measures prior to the
fire.

Yesterday, sources on the island suggested
more could have been done before the blaze
reached the plant to ensure the compound
did not catch alight, including clearing down
the bush surrounding the facility in advance.
One source questioned what systems BEC
had in place to deploy in the event of a petro-
leum fire at the plant, adding that BEC itself
appeared to have played no part in addressing
the fire.

A further hindrance to the firefighting
effort came from a limited water supply from
which to fill the trucks which were attending
the fire, The Tribune understands. Requests
allegedly put to the Water and Sewerage Cor-
poration on Thursday to increase the water
pressure in the area so that fire trucks could
be refilled with water to fight the fires on a
more prompt basis were not responded to
until the following day, when the water also
cut off entirely for a period of time, said a
source involved with the efforts to tackle the
fires.

This slowed down the firefighters response
to the blaze.

"They said the lack of water was because
we were using it to fight the fires, but the
capacity of that plant is 750,000 gallons. Each
one of those trucks can hold no more than
3,000 gallons, so I doubt that,” said a source,
who did not wish to be identified.

The Water and Sewerage Corporation
could not be reached for comment up to press
time.

The cause of the fires was not clear yes-
terday. Attempts to reach police fire officials
in Marsh Harbour were not successful.

PERFORMANCE,
Quality

sive

Geoltrey Jones offers the fine line of General

Electric appliances designed fo suit every

need with performance quality and style. Our

GEOFFREY

competitive prices and full service department,

make us your ultimate appliance centre.

imagination at work

JONES & CO

www.geofreyjonesandco.com | 322-2188/9





PAGE 12, MONDAY, MARCH 14, 2011

THE TRIBUNE



LOCAL NEWS



Real Estate: Reaching the finish line | US CONTRACTOR CONVICTED
IN CUBA: 15-YEAR SENTENCE

By MIKE LIGHTBOURN

MY LAST COLUMN got
you started on your purchase
by determining how much
you could afford, getting loan
pre-approval, finding the right
BREA agent to help you find
a suitable home. Now what?

Your BREA agent will
show how your preferred
home(s) compares with other
properties on the market.
He/she will advise you if there
are any special issues you
should know about involving
your choice(s).

Now you should be armed
to make your offer, which

should include a contingency
regarding an inspection and
financing, as well as any spe-
cial requests or repairs, a clos-
ing date and the amount of
the deposit. There may be
some negotiation, but once
both parties have agreed on
the terms, you'll sign a sales
agreement or letter of intent.
Make sure your lawyer sees
it. The vendor’s insurance
company needs to be advised
of your interest in the prop-
erty once you have signed the
contract.

You should have pre-
approval from your bank for
financing. If you are pre-

Seeking full-time
KONI Ne Nero.
to work in our

boutiques in Nassau
and Paradise Island.

Must have 5+ years experience in luxu-
ry fashion apparel and/or high-end jewel-

ry & watches.

Seeking candidates that have chosen
retail as their career and would be willing

to work long term.

Must have proven sales record and excel-
lent management skills.

Position requires strong background in
management, inventory, scheduling, prod-
uct training, human resources, and loss

prevention duties.

Experience in Retail Pro a plus. Must be
fluent in English. Knowledge of Spanish or
another foreign language a plus.

Candidate must live in Nassau or be will-
ing to relocate at own expense.

Please send a detailed
resume and a cover letter to
careers@hillsidebahamas.com,
explaining your interest in the
position, availability, & salary
requirements. Please also
include a photo if available.

carga & courier provider tald Tribune newspaper recently, something that results them in paying mare import cost

approved, you'll complete the
loan process, order an
appraisal and inspections.
You will want to do a final
“walk through” before clos-
ing.

Once all the legalities are
finalised you can complete the
transaction. You will sign all
the final documents and
become a homeowner. For
most persons this will be the
largest transaction of their
lives and we do not want any
slip ups!

(Mike Lightbourn is presi-
dent of Coldwell Banker
Lightbourn Realty).

Share your news

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

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

Job Vacancy

A leading business in the Bahamas seeks to fill the
position of Entry Level Accounting Clerk.
All applicants should possess the following:

* Accounting/bookkeeping experience.

* Experience in handling Accounts receivable will
be a plus.

* The ability to assist with various accounting
transactions.

* Strong computer skills and experience in
accounting software programs.

* Working knowledge of Microsoft office programs

especially Microsoft Excel.

* The ability to learn quickly.

* An outgoing, friendly personality.

* Excellent communication and team work skills.

* Strong organizational and analytical skills with
the ability to work independently.

* The ability to manage multiple projects and
responsibilities simultancously.

Interested persons should submit their resumes

via email to:

accountsclerk@live.com

All resumes must be received by

18" March 2011.





















HAVANA
Associated Press

A CUBAN court on Satur-
day found U.S. contractor
Alan Gross guilty of crimes
against the state and sentenced
him to 15 years in prison, a
verdict that brought a swift and
strongly worded condemna-
tion from Washington.

The court said prosecutors
had proved that Gross, 61, was
working on a "subversive"
program paid for by the Unit-
ed States that aimed to bring
down Cuba's revolutionary
system. Prosecutors had
sought a 20-year jail term.

Gloria Berbena, a spokes-
woman for the U.S. diplomat-
ic mission on the island,
termed the decision
"appalling" and called on
Cuba to release Gross imme-
diately.

"We reject and deplore this
ruling,” she told The Associ-
ated Press. "It is appalling that
the Cuban government seeks
to criminalize what most of the
world deems normal, in this
case access to information and
technology."

Tommy Vietor, a
spokesman for the White
House's National Security
Council, said the ruling "adds
another injustice to Alan
Gross’ ordeal.”

"He has already spent too
many days in detention and
should not spend one more,"
he said. "We urge the imme-
diate release of Mr. Gross so
that he can return home to his
wife and family."

Gross was arrested in
December 2009 while on a
USAID-backed democracy-
building project.

The U.S. government and
Gross's family say he was
working to improve Internet
access for the island's Jewish
community, did nothing
wrong, and should be released.

Cuban officials have called
him a mercenary and main-
tained his motives were more
nefarious.

The court said the program
that Gross worked on — part
of a $20 million Washington-
effort to support democracy
on the island — showed that
the U.S. government contin-
ues to seek the overthrow of a
Cuban government ruled since
1959 by brothers Fidel and
Raul Castro.

The Havana court found the
evidence presented at the trial
"demonstrated the participa-
tion of the North American
contractor in a subversive pro-
ject of the U.S. government
that aimed to destroy the Rev-
olution through the use of
communications systems out

Firms losing, collectively, ‘millions’ on U.S. freight ‘prepaying’

(Reprint-Jan. 12, 2011-Nei! Hartnell, Business Editor)

Bahamian companies are collectively lasing “millions of dollars” per year through inflated transportation cost they do not have to pay, a Bahamas —based express

of the control of authorities,”
according to a statement read
out on the afternoon news.

It said that during testimony
in the two-day trial, Gross
"recognized having been used
and manipulated" by his com-
pany — Bethesda, Maryland-
based Development Alterna-
tives, Inc. — as well as by
USAID and the State Depart-
ment. It said he has the right to
appeal the sentence to the
Supreme People's Tribunal,
Cuba's equivalent of the U.S.
Supreme Court.

Since the trial began, Cuba
has stepped up its denuncia-
tion of such programs. Last
week, state television aired a
program detailing the history
of the USAID effort, with offi-
cials saying it showed Wash-
ington was waging a cyberwar.
Cuban media have promised
to air a second installment on
Monday, possibly including
footage of Gross's testimony
at the trial, which was closed to
the foreign press.

Development Alternatives
was awarded a multimillion-
dollar contract for the program
in which Gross was involved,
and Gross received more than
a half million dollars through
his company, despite the fact
he spoke little Spanish and had
no history of working in Cuba.
Gross traveled to the island
several times over a short peri-
od on a tourist visa, apparent-
ly raising Cuban suspicions.

Development Alternatives
President James Boomgard
said Saturday the company
was "profoundly disappoint-
ed" in the verdict, and called
on the government to free
Gross.

The USAID programs have
been criticized repeatedly in
congressional reports as being
wasteful and ineffective, and
funding was held up briefly in
2010 over concerns following
Gross’ arrest. The money has
begun flowing again, though
US. officials say Development
Alternatives is no longer part
of the program.

While the verdict was not
unexpected, it is sure to have a
chilling impact on relations.
US. officials have said repeat-
edly that no rapprochement is
possible while Gross remains
jailed.

Now that Gross has been
convicted, his backers will try
to get him released through a
court action or executive par-
don, possibly on humanitari-
an grounds.

His wife Judy says Gross has
lost more than 90 pounds since
his arrest, and that his 26-year-
old daughter and 88-year-old
mother are both suffering from
cancer.

The former U.S, transportation executive who

works for the Bahamian company said that Bahamians are vulnerable to a little known, transactional practice called ‘prepaid and Add’ which was employed by
some, ta many, US-based shipping companies, Explaining how it worked, Mr, Johns said these U.S. shippers directed by Bahamian companies’ would instruct their
U.S. suppliers to ‘prepay’ the freight cost to get their already-ordered products from, say Illinois, to Florida, These shipping companies would use their own freight
program to truck the goods from Illinois but, in some cases, the shipper would place the higher, freight tariff rate an the bill for the Bahanian company, This Mr
Johns said, allowed the shipping company to potentially pocket the difference between their freight pricing program and the ‘added’ higher freight rate, and the
Bahamas based company, or finm was none the wiser of how he's paying more in cost. It would only see a single cost on the invoice, Although, that invoice amount
had transportation cost, freight and shipping inclusive, the company had no way of working aut the former costs, The cost of transportation charges would be
embedded in the invoice. Or, the CIF shipment would show the transportation charge but, at the ‘added’, higher, ground freight rate. As a result, Mr. Johns alleged
that many Bahamian companies were paying mare than they should on their import shipments once the freight is cleared in the Bahamas, paying inflated domestic
charges. Mr. Johns said that there are other cleaver versions amployad by some U.S. companies employing transportation cost as a ‘profit center’ besides ‘prapaid
& ADD’, The situation was definitely raising the cost of living for hard pressed Bahamians and residents, Mr. Johns said, U.S, Shippers do not separate that cost
on the invoice in some ta most cases, and you're often at the mercy of what the company is charging you versus what the rate of transportation should be, if
Bahamians had diract access to the transportation company with their own program things would be different. Mr. Johns said that to tackle the problem we are
Planning a seminar on March, 17th at the British Colonial Hilton, to educate business about this ‘transactional process’ of ‘prepay & add’, and assist them in setting
up their own U.S-based freight program so they can get their goods into Florida at a proper rate versus an inflated value cost, Mr. Johns said. VWwe vill additionally
show how to improve on their consolidation, warehousing, and ocean & air charges. Persons can contact Mr, Johns at 324-8524 27, hbii206@qmail.com,

christaigofa-girls.com, krissyi@gofa-girls.com

How much are you LOSING with pre-pay and add’

*What is pre-pay and add?

"How much is this process

costing my company?

Each year Pahamian merchants are losing hundreds of thousands of

dollars by allowing their US suppliers to ‘pre-pay’

freight to the Bahamas

Learn more about this US industry secret of “Pre-pay and add”

and add their ground

ana

find soalutuions that will help your business save money and have
greater control on your international cargo movement.

US FREIGHT TRANSPORTATION SEkMInAR SPONSORED Ew:

. 2:30 aa — 4:00 pn

lirne
Lecation:

Complimentary Continental breaktiast
Deote: Thursday K4arch tr" 2011

British Colonial Hilton _

and Lunch

sHow can l avoid paying too
much and reduce my overall
eost of goods?

"How can ! gain greater

control over my freight
movement?

Coverniors Ballroom
MNMoassau, Boahoanes
$35.00 pp

REGISTER NovVV

Register before March 4" 20414

Arissioris

Emall registration; krobhertea =) gofa-—giris.com Phone registration: AS4-0150

New Level Logistics, Nassau, Bahamas Office: 242-324-9150





THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 13



INTERNATIONAL NEWS

EARTHQUAKE AND TSUNAMI DISASTER

Japan races to prevent
nuke reactor meltdowns

KORIYAMA, Japan
Associated Press

JAPAN'S nuclear crisis
intensified Sunday as author-
ities raced to combat the
threat of multiple reactor
meltdowns and more than
180,000 people evacuated the
quake- and tsunami-savaged
northeastern coast where
fears spread over possible
radioactive contamination.

Nuclear plant operators
were frantically trying to keep
temperatures down in a series
of nuclear reactors — includ-
ing one where officials feared
a partial meltdown could be
happening Sunday — to pre-
vent the disaster from grow-
ing worse.

But hours after officials
announced the latest dangers
to face the troubled Fukushi-
ma Dai-ichi nuclear complex,
including the possibility of a
second explosion in two days,
there were few details about
what was being done to bring
the situation under control.

Chief Cabinet Secretary
Yukio Edano said Sunday
that a hydrogen explosion
could occur at the complex's
Unit 3, the latest reactor to
face a possible meltdown.
That would follow a hydro-
gen blast Saturday in the plan-
t's Unit 1, where operators
attempted to prevent a melt-
down by injecting sea water
into it.

"At the risk of raising fur-
ther public concern, we can-
not rule out the possibility of
an explosion,” Edano said. "If
there is an explosion, howev-
er, there would be no signifi-
cant impact on human
health."

More than 180,000 people
have evacuated as a precau-
tion, though Edano said the
radioactivity released into the
environment so far was so
small it didn't pose any health
threats.

Such statements, though,
did little to ease public wor-
ries.

"First I was worried about
the quake," said Kenji Koshi-
ba, a construction worker who
lives near the plant. "Now I'm
worried about radiation.” He
spoke at an emergency cen-
ter in Koriyama, about 40
miles (60 kilometers) from the
troubled reactors and 125
miles (190 kilometers) north
of Tokyo.

At the makeshift center set
up in a gym, a steady flow of
people — mostly the elderly,
schoolchildren and families
with babies — were met by
officials wearing helmets, sur-
gical masks and goggles.

About 1,500 people had
been scanned for radiation
exposure, officials said.

Up to 160 people, includ-
ing 60 elderly patients and
medical staff who had been
waiting for evacuation in the
nearby town of Futabe, and
100 others evacuating by bus,
might have been exposed to
radiation, said Ryo Miyake,
a spokesman from Japan's
nuclear agency. The severity
of their exposure, or if it had
reached dangerous levels, was
not clear.

Edano said none of the
Fukushima Dai-ichi reactors
was near the point of com-
plete meltdown, and he was
confident of escaping the
worst scenarios.

Officials, though, have

Bethel Brothers Morticians

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

Funeral Service For

CHARLES LEO
CAREY, 81

of Malcolm Road, East and
formerly of Tarpum Bay,
Eleuthera will be held on
Wednesday, March 16th, 10:00
a.m. at Grant’s Town Wesley
Methodist Church, Blue Hill
Road and Chapel Street. Rev'd.
L. Carla R. Culmer, Rev’d. Dr.
Colin Archer and Rev’d.
Charles Carey will officiate.
Interment will follow in

Woodlawn Memorial Gardens,
Soldier Road.

His survivors include his loving wife of 57 years, Dorothy Carey.
Their children John and Vrynae, Charles and Vernelle, Michael
and Delphine, Leo Jr., Derek and Rosamunde, Ricardo and
Shanna, Susan, Judy, Barbara, and Sharon Carey, Katherine
Carroll, Lateasha and Richard Lowe; Adopted Daughter Betty
Carey-Sweeting; Grandchildren: Kirkland and Denise, Reno and
Shanell, Aretha, Charles Jr., Deante, Deangria, D’Aundre, Dechea,
Adrian and Kaylissa, Derek Jr., Daniel, Deron, Demetrius,
Dejanique, and Denajae Carey, Jamaal and Lisa, Kastico Nabbie,
Apollonia and Stanford Dean, Makeria and Mark Gibson Jr.,
Melissa and Freddie Mackey, Juranda, Natasha, Giovannia, and
Giovanni Swaby, Candisha and Caneasha Carroll, Kevaughn
Ferguson, Shannon Francis, Vandera Knowles, Erin Haven,
Rashad and Rashay Lowe; Great-grandchildren: Kayden, Kyleigh,
Simmel, Sharee, Matio, Lil Dee, Baby Dee, Madison, Daleah Carey,
Jaleah, Jamia and T’Kedria Nabbie, Stanford Jr. and Angelique
Dean, Skyy Cartwright, Tyler Dean, Yohance and Ayira Roach.
Sisters: Hilda, Enid and John, and Carolyn Carey; Brothers:
Kenneth and Jackie, Eugene and Margaret, John and Christine
Carey. Nieces and Nephews: Timothy, Mary Knowles, Faye, Linda,
Renee, Norman, Dewey, Yvonne Ingraham and Paulette Rahming;
John, Christopher, Baldwin, and Jackie Carey, Ella Farrington,
Charles, Lawrence, Shane, Sandra, Elvin, and Terrance Carey,
James, Audrey, Peter, Michelle, Andrew and Janice Miller,
Claudette, Albert, Luke, Lester, Carolyn, Meghan, and Jeanette
Carey, Pastor Ivan, Michael and Cyril Carey, Mark Charlene,
Helena, Ian and Brian Carey; Cousins: Dewitt (Remelda) Carey,
Freda Ingraham, Anthony, Labon and Vincent Thompson, Anna
Strachan, Erdman Deal, Elizabeth Knowles, Reverend Ada
Sands, Dianna Thompson, Florida, Nora, Ronald and Edward
Thompson, Iris, Kathleen; Aunts: Vees Sands and Addie Culmer
of Palmetto Point, Eleuthera; Caretakers: Saimtacia “Lovely”
Simus, and Jane Wallace. A host of other relatives and friends
including Dr. Ed Allen, Dr. David Allen, Paul Allen, Mrs. Doreen
Allen, Dawn Taylor, The Right Honourable Perry Christie, William
Mc Cartney & Family, Mr. Branville McCartney, Charlie Searcy,
Randy Swaby, Sidney Carroll Jr. & Family, Don Gilbert, Karis
Edgecombe, Erica Curtis & Family, Bridgette Stuart & Family,
Shawn Francis, Shirley Allen & Family, Rev. Carl Campbell &
Family, Rev. Dr. Colin Archer & Family, Rev. Carla Culmer &
Family, Sheila Santiago & family of Port St. Lucie, Harriet Smith,
Jennifer Glinton, Mrs. Velma Ferguson & Family, George
McCartney & Family, Mr. Arthur Sealy and Family, Mrs. Fredricka
Butler & Family, Mrs. Joycelyn King and Family, The Charlow
Family, The Major Family, The Richardson Family, Wesley
Methodist Church Family, The Abaco Methodist Family, Wesley
College, Abaco, The Victory Baptist Church Family, Mrs. Marsha
Pratt & Family, Dr. Agreta Eneas Carey, Dr. John Johnson, The
Doctors and Nurses of Male Medical II, Nurses of the South
Beach Clinic, The Malcolm Road Community, Management and
Staff of Y’Cares Fashion Center, Conch Hill, First Choice
Convenience Store, Sir Charles Hotel, Electronic Solutions &
Innovations I & II, John Carey Construction, Crowley Shipping
and Atlantis.

Friends may pay their last respects at Bethel Brothers Morticians,
#44 Nassau Street on Tuesday from 10:00 a.m. to 6:00 p.m. and
on Wednesday at the church from 9:00 a.m. until service time.

declared states of emergency
at six reactors — three at Dai-
ichi and three at another near-
by complex — after operators
lost the ability to cool the
reactors using usual proce-
dures. Local evacuations have
been ordered at each location.
The U.N. nuclear agency said
a state of emergency was also
declared Sunday at another
complex after higher-than-
permitted levels of radiation
were measured there. It said
Japan informed it that all

SEE page 14

NOW
ae
Ted
ie bee)



PEOPLE WALK in the rubble in Minamisanriku town, Miyagi Prefecture, northern Japan, Sunday, March
13, 2011, two days after a powerful earthquake -triggered tsunami hit the country's east coast.
The Yumiuri Shimbun/AP

WO
A

\"]
ED EG TTL has

eur see el MUP UCU et Circe Ree een um r ieee Rute Tel

BUILT TO LAST!

Gnd.

REFRIGERATORS - top mount 18 cf Starting 1 $9700
REFRIGERATORS - better mouet 19ct_..trom $1,69590
REFRIGERATORS - site by sida 25 ftom §1,55000
UPRIGHT FREEZER - AQFROISTEW Mdf............
MACROWAVES - counter lop #if- 2.) Guo.

(4S RANGES - 10°...

han $1270
Sering b $6350

ering be § 768%
Cofors Avadoble: White, Bleck, Bing, ond Sfoindass Steal

MAYTAG

DEPENDABLE PRODUCTS
24" Goes Wall Ceres lc We, ee) Sartig i$ T1950 | POF Potion Monat Refrigerators ital sha) $ 1,69500
M4 Eat Wl Ovens jo) ____$ 1730000 | octane 1). Ub Cycle (ag) ring w #185800

Drpars Bectric

DN" Goes Pang (id iy i Shoring wt #97500
31,2200
ATO 500
Storing 4 $5.6.900
Goring 19.500

UN

$739" WW" Bectric Ronyes pn}.

20 Blecric Ranges in|
Dishovosivers fi le. ef

$1,05500
$1,95000
Glock Weeher ‘Dryers §2,65000

a ade ee ees A ued Rare

We accept Visa, Mastercard, Discover & Suncord * Visit our web site ot weew.taylorindustries.com

Drive one.

FORD “Edge” SEL

3.5L Va ak a ae

oped geketele arias

In Cf fis es md

acy

LEATHER INTER

S17 HABDOS PREE COMMUBRDICATION AMP EMTERTAIMML® |

7ST EM POWERS BY MICROSOFT, ee

a ape Bowe (peh play

ped and bluctooth iclephess aed oopey Gaede foe corrcreation 12m
heal ae inchs and mimo, deal ae

_ hh ire

renry, plow ofl siored ard
1 yee wile srarraray

QDs

3 ee Poel ee eo Dee eel

oak of Lm Theor rss, fir ii

fled ai
i ode anlage

phasein arta thaphy lenieake. aie

ikcod, thanks te sisic of-the-m

PON TALK «

thi
tthe ir mestile ‘als wnch oad
ce Chey whet l dated thatay Sieh the peal
ch woicc-actiralioa a Nerches adie

SYNC LISTENS

arvicey, “S

tal oeccha

you are lOOKing for the best value available
You owe it to yourself to visit our showroom

— Introducing The All NEW

Drive one.

FORD eere SEL i's

ALL Hoole ALE See ALL MEW. Swinton ml 5 a * Hb
iad aa of x

row ewe [tia paurecty
Thaamaa, Bi a ol tee
iibewiion winty dial | i
‘Ais Cie: Brakes tuk rect

elaa., pace = ahi
rat

fowt [ree =



x bre
ft the of meer 10 Far

render, laariar

Tat ates, ob allel
wherh and eenciorg
aberaly nino. od noua

aan. Wadd Ge

sd un
full tank « Hon ond Soon ee.

te ee meee any

THOMPSON BOULEVARD

eee

FRIENDLY MOTORS CO. LTD a en FAX: 328-6094



PAGE 14, MONDAY, MARCH 14, 2011

THE TRIBUNE



INTERNATIONAL NEWS
JAPAN: EARTHQUAKE AND TSUNAMI DISASTER

FROM page 13

three reactors there were
under control.

A pump for the cooling sys-
tem at yet another nuclear
complex, the Tokai Dai-Ni
plant, also failed after Friday's
quake but a second pump
operated normally as did the
reactor, said the utility, the
Japan Atomic Power Co. It
did not explain why it report-
ed the incident Sunday.

All of the reactors at the
complexes shut down auto-
matically when the earth-
quake shook the region.

But with backup power

supplies also failing, shutting
down the reactors is just the
beginning of the problem, sci-
entists said.

"You need to get rid of the
heat," said Friedrich Stein-
haeusler, a professor of
physics and biophysics at
Salzburg University and an
adviser to the Austrian gov-
ernment on nuclear issues.
"You are basically putting the
lid down on a pot that is boil-
ing."

"They have a window of
opportunity where they can
do a lot," he said, such as
using sea water as an emer-

gency coolant. But if the heat
is not brought down, the cas-
cading problems can eventu-
ally be impossible to control.
"This isn't something that will
happen in a few hours. It's
days."

Edano, for his part, denied
there had been a meltdown
in the Fukushima Dai-ichi
complex, but other officials
said the situation was not so
clear.

Hidehiko Nishiyama, a
senior official of the Econo-
my, Trade and Industry Min-
istry, indicated the reactor
core in Unit 3 had melted par-

tially, telling a news confer-
ence, "I don't think the fuel
rods themselves have been
spared damage,” according to
the Kyodo News agency.

A complete meltdown —
the collapse of a power plan-
t's ability to keep tempera-
tures under control — could
release uranium and danger-
ous contaminants into the
environment and pose major,
widespread health risks.

Experts noted, however,
that even a complete melt-
down would probably be far
less severe than the 1986 dis-
aster at Chernobyl, where a

MINISTRY OF WORKS & TRANSPORT
NOTICE

CORRIDOR 11B
MARKET STREET

Utility Installation - Night Works

Temporary Road Closure & Diversion

Jose Cartellone Construcciones Civiles S.A wishes to advise the motoring public and residents on Market
Street that from Monday March 14, 2011, continuous works will be carried out during the nights to
facilitate the installation of new eight inch (8”) water main pipes from Cordeaux Avenue as the works
progresses southbound.

As a result of these works, periodic water supply interruptions will occur while the works are ongoing
as scheduled from 7:00pm to 7:00am.

Access will be given to residents, pedestrians and the affected businesses in this area during the construction
process. Signs will be in place to identify safe passage for Pedestrians and Access points to the businesses
in the area from the diversion route. The public will be updated through the local media (radio &
television) for regular updates.

Your patience throughout is project is greatly appreciated, we apologize for the inconvenience & delays

caused.

For further information please contact :

(The Contractor)

Jose Cartellone Construcciones Civiles S.A
Office Hours: Mon-Fri 8:00 am to 6:00 pm
Office:(242)322-8341/322-2610

Email: bahamasneighbor@cartellone.com.ar

The

(The Contracting Agency)

Ministry of Works & Transport

The Project Execution Unit
Hotline: (242) 302-9700

Email: publicworks@bahamas.gov.bs



. Archdiocese of Nassau
af
announces its

Citywide Lenten Mission

(New Providence)

Theme:

A New Beginning - “Behold,
| make all things new. “ (Rev:21:5)

March 14-18, 2011
Loyola Hall, Gladstone Road

7:00 nightly

Guest Preacher
Rev. Fr. Donald Chambers, STD






DOCTORS
HOSPITAL

reactor exploded and sent a
cloud of radiation over much
of Europe. That reactor,
unlike the ones in Fukushi-
ma, was not housed ina
sealed container.

The nuclear crisis was trig-
gered by twin disasters on Fri-
day, when an 8.9-magnitude
earthquake, the most power-
ful in the country's recorded
history, was followed by a
tsunami that savaged its
northeastern coast with
breathtaking speed and pow-
er.
More than 1,400 people
were killed and hundreds
more were missing, according
to officials, but police in one
of the worst-hit areas esti-

mated the toll there alone was
more than 10,000.

The scale of the multiple
disasters appeared to be out-
pacing the efforts of Japan-
ese authorities to bring the
situation under control.

Rescue teams were strug-
gling to search hundreds of
miles (kilometers) of devas-
tated coastline, and hundreds
of thousands of hungry sur-
vivors huddled in darkened
emergency centers cut off
from rescuers and aid. At
least 1.4 million households
had gone without water since
the quake, and food and gaso-
line were quickly running out

SEE page 15

NOTICE

The aelep bone nemebers for

WILLIAM WomMG & ASSOCHCIATES

= REA

rr _

wire ate felfeoresr

Vel: 242.327.4277 f 2

» Pax: 242.327 4273

ena: wiliianngioiwwongrealiy.com

ed mare eT |

NOTICE

WEST WINDS PROPERTY
OWNERS ASSOCIATION LIMITED

NOTICE IS HEREBY GIVEN THAT THE ANNUAL
GENERAL MEETING FOR THE WEST WINDS
PROPERTY OWNERS ASSOCIATION LIMITED WIL
BE HELD THURSDAY THE 315T DAY OF MARCH,
A.D,, 2011 AT 6:30 PM. AT THE PAVILION, WEST
WINDS SUBDIVISION, NEW PROVIDENCE.

DISTINGUISHED LECTURE SERIES





THIS
MONTHS
TOPIC
















SPEAKERS

PURPOSE

SCREENINGS

REFRESHMENTS
PROVIDED

RSVP

LECTURE DATE
DATE: Thursday, March 17th, 2011
TIME: 2:00PM and 6:00PM

» DOCTORS HOSPITAL

Conference Room Dowdeswell Street
Seating is Limited, RSVP (242) 302-4707

ORGAN DONATION
AND TRANSPLANTATION

Overview by Rosetta Rolle Hylton for Life Alliance Organ Recovery



Please join us as our guest every

third Thursday of the month for a free
public health lecture and scintillating
series of the most relevant health
issues affecting society today.

SCHEDULE

APRIL 21TH, 2011

MAY 19TH, 2011

JUNE 16TH, 2011

JULY 21ST, 2011

www.doctorshosp.com



THE TRIBUNE



INTERNATIONAL NEWS

A WOMAN searches through the rubble of her ho

MONDAY, MARCH 14, 2011, PAGE 15

tsunami in Ofunato, Iwate prefecture, northern Japan, Sunday.

JAPAN: EARTHQUAKE
AND TSUNAMI DISASTER
FROM page 14

across the region. Large areas
of the countryside were sur-
rounded by water and
unreachable. Nearly 2 million
households were without elec-
tricity.

Starting Monday, power
will be rationed with rolling
blackouts in several cities,
including Tokyo.

The government doubled
the number of troops pressed
into rescue operations to
about 100,000 from 51,000, as
powerful aftershocks contin-
ued to rock the country. Hun-
dreds have hit since the ini-
tial temblor.

On Saturday, an explosion
destroyed the walls and ceil-
ing of Fukushima Dai-ichi's
Unit 1 as operators desper-
ately tried to prevent it from
overheating and melting
down by releasing steam.

Officials were aware that
the steam contained hydro-
gen and were risking an
explosion by venting it,
acknowledged Shinji Kinjo,
spokesman for the govern-
ment’'s Nuclear and Industrial
Safety Agency, but chose to
do so because they needed to

me destroyed in Friday's powerful earthquake-triggered



-

Kyodo News/AP



A PATIENT in a wheelchair is helped by attendants as they evacuate
from a tsunami-affected hospital at Otsuchi, northeastern Japan, on
Sunday, two days after a powerful earthquake and tsunami hit the the

country's northeastern coast.

reduce the pressure.
Officials insisted there was
no significant radioactive leak
after the explosion.
Without power, and with
its valves and pumps damaged

Kyodo News/AP

by the tsunami, authorities
resorted to drawing sea water
mixed with boron in an
attempt to cool the unit's

SEE page 16



Ready to Roll!
Get Pre-Approved

for the 2011 BMDA Auto Show Today!

Visit Any Scotiabank Branch Today!

e Flexible Terms
e Attractive Low Rates
e Low Monthly Payments

Visit Scotiabank’s Booth at the
2011 BMDA Auto Show

March 25 - 26

Mall at Marathon

§ Scotiabank’

* Trademarks of The Bank of Nova Scotia.
Trademarks used under authorization and control of The Bank of Nova Scotia.

** Visit Branch for details. Minimum approved loan requirements apply.
Offer expires April 30, 2011. Certain conditions apply.



- AirJamaica.com * 1.800.523.5585

ioe [





PAGE 16, MONDAY, MARCH 14, 2011

We have reached 50,000 Fans on
Facebook and want to celebrate with you!

BECOME A FAN of
BTC’s Facebook page for defails on how

you can win in this HOT PROMOTION!

Win BlackBerries, cell phones, phone cards,
gift certificates, airline tickets and much more!

PROMOTION RUNS FROM
March 7th to April 8th, 2011

TO BECOME A FAN OF BIC VISIT |

Faceboo

www.facebook.com/mybte and
click the ‘LIKE’ button

coll anytime... 7

sagsn

CALL BIC 225-5282
www.bicbahamas.com
www.facebook.com/mybte

Li
See oan
L Pry

s >»)

Fear Cowaerioe- |S fei wowed

ENTERPRISE | WIRELESS | BROADBAND | VOICE | DIRECTORY



Health, wealth and happiness cover.

insurance, health, pensions, life

If you protect your lifestyle with a CGI company, you can pay less for motor and home insurance and enjoy first-
rate business cover too. From health insurance, rich in benefits and offering global coverage, to pension services
delivering efficient, accurate and timely reporting, CGI companies offer flexible products to make the most of your

budget.

Customer products and services are supported by the resources of a $300 million regional insurance and

employee benefits provider.

yy,
FE] coLontaL a ee ec
soF5 Sree

& GENERAL

Security & General Insurance
Tel. 326-7100

MEDICAL

Atlantic Medical Insurance
Tel. 326-8191
Freeport Tel. 351-3960

Colonial Pension Services
(Bahamas) Ltd.
Tel. 502-7526

7A COLONIAL GROUP

B INTERNATIONAL Colonial Group International: Insurance, Health, Pensions, Life
Lae





THE TRIBUNE

INTERNATIONAL NEWS

AN e NE =O Lea PLO ad Sada |

RUBBLE Is SCATTERED across 3s the vl wide areas of the own of
Minami Sanriku, northeastern Japan, on Sunday, two days after a
powerful earthquake and tsunami hit the the country's northeastern
coast.

Kyodo News/AP



DESTROYED CARS are left out on a street following a massive
tsunami triggered by a huge earthquake in Tagajo near Sendai,
northern Japan, Sunday. Koji Sasahara/AP



A FISHING BOAT which was washed away rie tsunami, sits over-
turned in Hachinohe, Aomori, northern Japan Sunday after Friday's
catastrophic earthquake and tsunami. Kyodo News/AP

FROM page 15

overheated uranium fuel rods. Boron disrupts nuclear chain
reactions.

Operators also began using sea water to cool the complex's
Unit 3 reactor after earlier attempts to lower its temperature
failed, the U.N. Nuclear Agency said.

The move likely renders the 40-year-old reactors unusable,
said a foreign ministry official briefing reporters.

He said radiation levels outside the plant briefly rose above
legal limits, but had since declined significantly.

Japan has a total of 55 reactors spread across 17 complexes
nationwide.

Lifestyle Protection

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





Francis to be
Brewery chair

* Commonwealth set to
appoint ex-Central Bank
governor and current
BIC exec chair once
$62.5m IPO is completed
* Kerzner PR chief, Ed
Fields, also set for Board
appointment



JULIAN FRANCIS

By NEIL HARTNELL
Tribune Business Editor

Telecommunications Compa-
ny’s (BTC) current executive

chairman of Commonwealth
Brewery’s Board once its
upcoming $62.5 million initial
public offering (IPO) is com-
pleted, Tribune Business can
confirm.

Sources familiar with the
situation confirmed that Com-
monwealth Brewery had
already discussed the post
with Mr Francis as part of an
extensive due diligence under-
taken on the former Central
Bank governor and other can-
didates, with the company set

SEE page 8B

BTC rival ‘not happy’
On cellular monopoly

By NEIL HARTNELL

Tribune Business Editor

A direct competitor to the
Bahamas Telecommunica-
tions Company (BTC) has
admitted it is “not happy
the mobile monopoly” will
remain in place - and has
been extended - post-pri-
vatisation, but acknowl-

ing” on that last remaining
protectionist barrier.

Paul Hutton-Ashkenny,
president of IndiGo Net-
works operator, Systems
Resource Group (SRG),

mentary debate standing
between Cable & Wireless
Communications (CWC)
and its $210 million acquisi-

ling interest in BTC, it was

sector and the entire

SEE page 7B

THE

cb
het:

rl
BESTEL esta

THE TRIBUNE

usine

MONDAY,

By NEIL HARTNELL
: Tribune Business Editor

RoyalFidelity Merchant

i Bank & Trust will launch its
i next international mutual
? fund offering this June in a
: bid to capture the $10 million
? that will be redeemed when
? its first such product matures
: that same month, its president
? telling Tribune Business the
? investment bank planned to
Julian Francis, the Bahamas }

launch two funds per year.
Reaffirming his belief that

RoyalFidelity’s TIGRS fami-
chairman, will be appointed as }

ly of funds was still “the right

? recipe” for providing Bahami-
? an investors with access to
: portfolio diversification and
i potentially higher returns
: from global capital markets,
? Michael Anderson said the



TANYA MCCARTNEY

By NEIL HARTNELL
i Tribune Business Editor

edged that “the clock is tick-

Finance Corporation of the

: Bahamas (FINCO) wants to be
? sure it can sustain dividend pay-
: ments before its resumes profit
i returns to shareholders, its
? managing director has told Tri-
said that with just the Parlia- : bune Business, wath the mor

? gage lender’s efficiency ratio
? currently between 36-40 per
? cent.

Speaking just days after Roy-

: alFidelity analysts suggested “it
tion of a 51 per cent control- {| would be reasonable” to expect
: the BISX-listed lender, which

time for the communications }
? by Royal Bank of Canada’s

is 75 per cent majority-owned

SEE page 5B

ee

Custom build your ideal home or simply choose
Cros 3 prevt alfordible house plans offered today,

Ji nine ae Live abe aeaty pou'oe abeanpe anette

ei eats Sle) eI 9

HGChristie
al Elegant island Living



MARCH

14,

investment bank was now
working to develop a “viable”
alternative to attract the $9.98
million in investor principal
that will be released once its
TIGRS 1 sub-fund matures.

“A new TIGRS will come
out in June to replace TIGRS
1 that matures at the end of
June,” Mr Anderson told Tri-
bune Business. “There is $10
million sitting in TIGRS 1, so
we’re trying to find a suitable
investment to back with the
next TIGRS.

“It’s like trying to figure out
what’s suitable. What will be
the rush over the next five-
year period?” The aim, Mr
Anderson added, was for the
next TIGRS sub-fund prod-
uct - likely to be named
TIGRS 5 - was “to provide a

-FINCO: NO ‘START-STOP’
DIVIDEND RESUMPTION

* BISX-listed mortgage
lender wants to be
certain it can ‘sustain’
profit returns to
shareholders

* Efficiency ratio lies
between 36-40%

* 10.47% non-accrual
loan portfolio
deteriorates further
alter year-end
























2011

-RoyalFidelity targets
$10m fund ‘retention’

“Investment bank searching for ‘viable’ investment for

_ upcoming June fund, in bid to attract investor capital from
| maturing TIGRS
_* Eyeing two new international mutual funds per year

_ * Still believes strategy ‘right recipe’ for Bahamian investors

viable, alternative investment
for them [TIGRS 1 investors]
to move into”.

“We want people to main-
tain their diversification in
international securities,” he
explained. “That’s what the
TIGRS are about, diversifying
people’s portfolios outside
Bahamian securities in a prin-
cipal protected, low risk way.

“They provide exposure to
markets outside the Bahamas.
There aren’t any other oppor-
tunities like this for Bahamian
investors, so we want to con-
tinue to broaden the base of
investments that people have
an opportunity to invest to
allow them to do so.

SEE page 4B

The information contained is from a third

party and The Tribune can not be held
responsible for errors and/or omission
from the daily report



The Superocean Heritage 46

BREITLING BOUTIQUE

ee ee ee

=e

BREITLING

Gov't urged: Mandate 20%
Bahamian participation

By NEIL HARTNELL
Tribune Business Editor

The Bahamian Contractors Association’s (BCA) president
has urged the Government to follow the Baha Mar template
and ensure Bahamian construction companies get 20 per cent of
the infrastructure project work to be performed by China Har-
bour Engineering Company, expressing concern about the deal
given the work shortages and unemployment currently plaguing

the sector.

Speaking to Tribune Business after the Government signed a
Memorandum of Understanding (MoU) with the Chinese state-
owned company last week, Stephen Wrinkle said the Bahamas
was “going to have to be very careful how we proceed with this

relationship” with Beijing.

Acknowledging that the Government, which is struggling with
a wide fiscal deficit and growing $4.2 billion national debt, would
obtain numerous benefits from dealing with China, namely the
low interest rates associated with the financing, Mr Wrinkle said
the “turnkey” solution entities such as China Harbour Engi-
neering Company provided -finance, design and build - were
also attractive. However, he argued that this had to be balanced
with the fact that Chinese labour was the main component in
these works, at a time when many Bahamian contractors were fac-
ing work shortages, while unemployment in the Bahamian con-
struction industry was widespread.

“That’s the difficulty facing every country; the value of these
works far exceeds the cost of the Chinese labour component,” Mr
Wrinkle told Tribune Business. “We hope to get some dialogue
going soon with the Government and the Chinese company to
ensure there is some Bahamian component.

“At the moment, we are concerned because there is a shortage
of work, and while we understand the inclination of the Gov-
ernment to go ahead with these works based on the financing
component, we have to have some Bahamian component.

“We cannot let all these people come in and take the work

SEE page 6B



WELLS: BIOFUEL FACILITY’S
PROSPECTS ‘ARE NOT ROSY

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

The prospects for Bacardi’s
former Clifton Pier processing
facility to be turned into a bio-
fuel-manufacturing plant “are
not rosy”, a former Cabinet
minister behind the idea has
admitted, as the group seeking
to advance the proposal have
run into problems in identifying
where they will source raw
material from and a destination
to export the final product to.

Such considerations had
been deemed key to pinning
down financing for the biofuel

a

project, which businessman and
ex-politician, Tennyson Wells,
last year said he hoped could
service the Bahamas and the
Caribbean and create “hun-
dreds” of jobs for Bahamians.

Mr Wells revealed his
investor group was hunting for
the financing for the biofuel
project in an October 2010
interview with this newspaper,
having already got “hundreds
of thousands of dollars tied up”
in the purchase option it has on
the former Bacardi Clifton Pier
facility.

SEE page 6B

BREITLING

INSTRUMENTS FOR PROFESSIONALS"â„¢





PAGE 2B, MONDAY, MARCH 14, 2011



By ROYALFIDELITY CAPITAL
MARKETS

It was a busy week of trading in

of 4,238 shares to see its stock price
decrease by $0.10 to close at $4.40.
Focol Holdings (FCL) traded a vol-
ume of 4,700 shares, its listed price

Week ending 11.03.11

THE TRIBUNE

the Bahamian stock market, falling $0.01 to close at $5.47. BISX SYMBOL CLOSING PRICE WKLY PRICE CHANGE VOLUME YTD PRICE CHANGE
nvestors traded in six out of the Finance Corporation of the : 9
listed securities, with one advancer Bahamas (FIN) traded a volume of a : Aa ee aa bone
and three decliners. 2,621 shares to close unchanged at BOB $ 4.40 $-0.10 4238 -10.20%
$5.88. - 4

EQUITY MARKET a oe a 5 0.00%

: . of 62,230 shares acer BOND MARKET BWL $ 2.70 $- 0 0.00%
5 50 Be pices DUNE en cree No notes traded during last week. CAB $ 10.21 $- 0 “2.39%

; shares compared to the pre- CBL $ 6.78 $-0.02 47271 -3.14%
vious week's trading volume of é a ( ‘One
29,680 shares. Sealer ena a : ae re a 10.00%

AML Foods (AML) was the lone ae CWCB $ 2.11 $-0.12 0 15.30%
advancer, trading a volume of 2,000 There were no earnings reports DHS $ 1.40 $- 0 -12.50%
shares, its stock price increasing by released last week. FAM $ 5.25 $- 0 -13.51%
$0.05 to close at $1.09. . FBB $ 1.96 $- 0 -9.68%

Commonwealth Bank (CBL) was AGM Notice: : FCL $ 5.47 $-0.01 4,700 0.18%
the volume leader, trading a volume Finance Corporation of the FCLB $ 1.00 $- 0 0.00%
of 47,281 shares, its share price Bahamas (FIN) has announced its FIN $ 5.88 $- 2,621 -18.67%
falling $0.02 to close at $6.78. AGM will be held at the British ICD $ 7.40 $. 0 0.00%

Bank of the Bahamas (BOB) was — Colonial Hilton Hotel on March 17, JSJ $ 9.82 ce 0 0.00%
the big decliner, trading a volume 2011, at 6.30pm. PRE $ 10.00 $- 0 0.00%

Index Weekly % Change
H DJIA 12,044.40 -1.03
ome =
500 1,304.28 -1.28
Quality Products
NASDAQ 2,715.61 -2.48
Wenn ar Nikkei 10,254.43 -4.11
Plea eee titan
FOREX Rates
Currency Wkly % Chge
CAD 1.0340 0.42
, GBP 1.6087 = -1.11
ee h EUR 1.3912 -0.54
ftp uss Daf ihy Commodities
Commodity Wkly % Chge
KITCHEN ee FLOOR
Crude Oil 113.40 -2.31
MAM MIRAMAR = TAMARAC, FL MYERS Gold 1,411.50 0.61



305 591.4033 954.499.4601 4.597 2460 ee
S00 WAM 35 St, #15

4S MiranarPeay §=8045 Hebert Ot = 15248 Teeriaeni Tr
Mami. AL 3035 Minrres, FL93005 9 Tamarac, FL 33371 fai SAME AS acre
1.877.6GHOMEKO
www.homeko.com

Seove Mown- Mon-Prt iia - fede Sai: tides - dpm

Market wrap
continues on
page 8B

eles acelamia
Paradise

Including all pool and eer Are ee

a Ate Re On eee eh ele ele

* Free Continental Breakfast daily

Kids under 12 also Eat Freeâ„¢

Se i hmeta | elena eta king ize or two double beds
* Free Wi-Fi & Free Parking

* All few Flal Screen TVs with cable programming
ete TUE Ee

BT ite aCe Aletta eee td

ey
ie ata
Shas

Distributed in the Bahamas by

# The dAlbenas Agency Ltd.
Palmdale, 677-1441

QUA





THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 3B





Gasoline strike
threat looming

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

The economic threat of a day
without gasoline being served
at pumps throughout the
Bahamas looms, as petroleum
retailers today meet with the
Government to ask for a rise
in the fixed mark-up they are
allowed to collect on a gallon of
gas or diesel, given business
conditions which some claim
could put them out of business
altogether if not addressed.

Providing evidence of their
plight, the Margin Relief Com-
mittee of the Bahamas Petro-
leum Retailers Association
(BPRA) surprised most drivers
on Friday when an estimated
80 per cent of all gas/diesel
retailers shut down their diesel
pumps for 12 hours.

Their protest had been set to
continue for another 12 hours,
until midnight on Saturday
morning, but was brought to an
early close following an inter-
vention by minister of state for
the environment, Phenton Ney-
mour, who has responsibility
for relations with the petroleum
industry.

One business in the trans-
portation industry told Tribune
Business that had he not heard
a rumour of the planned shut-
down of diesel sales and
stocked up on fuel in advance,
the move “would’ve had a dev-
astating effect” on his opera-
tions.

Oswald Moore, chairman of
the Margin Relief Committee
of the BPRA, said the inten-
tion among the industry’s mem-
bers was that no prior warning
would be given of when the fuel
sales shutdown would take
place and, as it stands, a final
decision on whether or not
there will be a similar protest
involving gasoline - used by
most of the motoring public -
will take place.

The Margin Relief Commit-
tee is asking the Government to
allow retailers to collect 30
cents, rather than nine cents of
profit, on every gallon of gas,
and 20 cents rather than four
cents per gallon of diesel.

Without it, Mr Moore said
some retailers are likely to give
up on the industry altogether,
given that as oil prices rise,
costs rocket and profits shrink.

“Hopefully this will all be
solved in an amicable, peace-
ful, manner. We apologise to
the public for any inconve-
nience that may be caused, but
we’ve been agitating for a long
time. It’s not right for retailers
to continue to pour their assets
into keeping the business afloat
and get into a worse and worse

Welcome

financial situation...the indus-
try needs to be able to stand
on its own two feet,” said Mr
Moore, adding that margins
have remained fixed at that pre-
sent level for around 30 years.

Oil prices fell on Friday as
news spread of a massive earth-
quake and tsunami having
struck Japan, giving reason to
suspect that demand for oil
from the world’s third largest
importer would fall. The fall
bucked a trend of price rises in
recent weeks in light of the civ-
il unrest in Libya, a major oil
producer.

Mr Moore said that in his call
to the BPRA on Friday, which
brought an end to the BPRA’s
diesel shutdown, Mr Neymour
said the Government “under-
stands our plight and they are
willing to work with us towards
a solution.

“From their end it’s a little

=
£

LIVE THE CHAM
REGISTER

) INTER

CuIAY Pt)

CELEBRATING

more complex, and they have
various other things to look
into, which we understand,”
added Mr Moore. The official
meeting between Mr Neymour,
who had for some time indicat-
ed his willingness to meet with
retailers to discuss the price
controls, was set up for today.

Meanwhile, reflecting some
of the difficulties the Govern-
ment will face in addressing the
retailer’s demands, a trans-
portation business owner told
this newspaper on Friday that
even without the increase in the
price of diesel at the pump that
would come with any conces-
sion from the Government to
the petroleum retailers, he has
found “the overall increase in
prices is affecting us big time”.

“And the problem is we can’t
go up in our rates because right
now we’re struggling to get
business here as it is,” he added.

H’imbrace
OUP Power!

bE TOU WANT DE SEL
APTENDO THI

Eopoctrmi

Lahr
1} ii [hs
VIAL

ONAl

J

WOMEN’S DAY

os

HEN, ALLISON
NIOOLE AVANT

Introduction of Team
Florinda Clarke RuN
Mikus Mikula TOM

Or, James Iferenta
Introduction of speakers

Bridging the gap “old to new"

Physician case presentation

Case Report -

Aurse Florinda Clarke AN

Case Report -

Nurse Mikus Mikula TGOM &
66 Sharman Williams RM

10:45am

17:00am

Gottes break

Versajet - Hevolution in Debridement -

Smith & Nephew
Hands on with the Versajet

12:00no0n BREAK

12:15pm

1:50pm Questions

Vote of thanks.

Vacuum Assisted Closure {'¥4,¢.,}
Pears & Perils

‘OVANICE

BAT LAS



HON, LORETTA
BUTLER TUNER

LUE SROHEILS

Spossored by;
Smith & Nephew

TEMS Ltd,

Aaretibes of the Mindset group

Nassau Agencies

SilN

WOURSD



i aed

The following persons are asked to contact

STOR-IT-ALL OF NASSAU, LIMITED
in connection with items left in storage:

* CORRINE HIGGS GARNET F. MORRIS
* ROSMARIE ROLLE * KEMESHA A. WELLS

Payments not made by March 22nd, 2011. Items will be sold
on March 24th, 2011 to cover outstanding Account.

Stor-it-all
Soldier Road

(by Lowe's Wholesale),

Telephone: 393-0964

Â¥

stor-it-all

COMMONWEALTH OF THE RARANLAS ' TO16
IN THE SUPREME COURT OM hoks/No M26
Commercial Division

IM THE MATTER OF

CLEAR WATER FUND LIMITED
UM LIU TATION)

ANT

IN THE MATTER OF
THE INTERNATIONAL BUSINESS COMPANIES ACT 200

ORDER

BEFORE His Lordship the Honourable Sir Michael! L. Baneetl the Choe! Justice of the
Supreme Court of the Commonvwealih of The Bahamas

UPON THE APPLICATION of Alison J. Treco and Maria Ferere, in their copacities os
Ihe Join Liquidator. of Clear Waser Fund Linoited (in Liquidation) (hereinafter referred wo as
“CWE") in the Voluntary Winding-up thereat, by Summons filed herem an the 15" day of
Fetragry, A.D., S01

UPON READING the Affidavit of Alison J. Treeo swom on the 1" day of February
ALD. 2001 and filed herein on the 15" doy of February, A.D. 2001

AND UPON HEARING Mir. Broan MM. Mores. QC with Genel] RK. Sands of Counsel for
the Jount Liquidaiors of CWT

IT 18 HEREBY ORDERED that

le All persons claiming to be creditors of CWP shall submit theer claim in a form
aperaved by the Joint Liquidators om o¢ befor: the 29 day of April, 2011
(hervinatter referred to aa “Whe Bar Date”) failing which such debts of claims
shall not be considered for the purpose of declaring and paying dividends in the
CWP liquidation (hereinafter referred 10 os “the Dividends") and the clairnant
Shall mot be enitled to participase in any such dividends amd] shall be forever
eecluded from the distrvbution of the assets of CWF.

The Joint Liquidatera shall in digtrvbuting the assets of CWE do so without regard
to and without paying of retaining or making provision for the payment from sech
assets of CWE of any debt or claim whieh is cr which hes been or may be alleged
10 be owing by or made againel CWP but in reepect of which a claim hae not been
submitted bo the Joi Liquidators in a form approved by the Joint Liquidatcers on
or before the Bar Dane

The Joint Liquidators shall not later than twenty-cight days before the Gar Date
cause 10 be inserted teooe in The Tribune, a daily newspaper im ihe Bahamas, an

advertsenscedt of the full cext of this Order

The Joint Liquidators shall mot later than twenty-eight days before the Bar Date
seve a copy of this Qrder on the Trastee of Hermard L.
Securitics LLC, the Tragtee of Remand Madoff, Maxam Absoluwe Rem Fund
Lid. and Maxam Absolute Return Furd LP. by sending if to them al their mailing

Madod? Investment

address of having tt delivered to their registered office or place of business.
The Affidavn of Alison J. Treoo sworn herein on the 10" doy of February A.D.

2011 be kept confidential and not available for insmection without the leave of the

our

AMID that the ocais of and occasions by this application be coals in the liquidation.

Dated the 4 day of March, A.D. 2011

REGISTRAR

feo Ginde: wan tates oul by Mit, MCKINNEY, BAROROPT & HUSSHES. Chambers, Marces bewse, 84 Licurge Sireri
“es. Haberes, Alomoys for the Joon Liquidators





PAGE 4B, MONDAY, MARCH 14, 2011

THE TRIBUNE



RoyalFidelity targets
$10m fund ‘retention’



















































Winterbotham Fund Services

A Miedscan of Tike Ui aierdetins Tour Comynaay [ineinea

ASSISTANT FUND ADMINISTRATOR

Winterbotham Fund Services is the largest fund administrator in The Batemas
in terms of Bahamian ineestment fends under adeintiretion, and we are lookmg
for a vibrant, enthusiastic and intelligent candidate interested in pursuing a
challenging and fulfilling career in investment fead administration to join our
growing beam.

Main Job Tasks and Kespansibilities
Kone. Your-Olient data entry and database maintenance
Dispatch statements of acooent and holdings to clients and investors
Annual Fo: payeurnts bo Repetry and Secunties Commissen
Inconporase: funds and companies and facility set-op
Performs aeaual Reviews of funds, compamies and haak acccants
fdaintain Winterbotham Merchant Bank accounts for fund chenis
Prepare: and proces intemal and cxbennal were tramsers
Provide suppor for the fond snd client accruing Unies
Haale 2a! box clientiinvestor queries and pequesis Gor information and
documentation
Process fund subscriptions and redemptions aad share transfers
General cherie dulics incliding pholocop ying, Saining and mailing
Huntin clacton: dnd hand copy Chee sem
Resolve administrative problems and inquires
Prepare and modify documents including corespondence, reporis,
draSts, memos and e-mails
a Record, compile, transenbe and disiritete minntes of meetings
« livin: chente for eras reddened
Education aed Experience
Bachelor's Deere: at her Resins Adminstration, Eoonomecs
Fiance, Banking or Commerce
Good compater skilk and iniwled ee of WS Word, Fxcel and Cutlook
Knowledge of financial markets, services and penducts, including hedge
bonds and securities
Knowledge of clerical and administrative tasks and sytem such a
fing and record keeping

Language Skills: Spankh anior Porugucse. high 001 a requirement,
isa pilin

Key Competenches

Excellen! communication skills. - writien and verbal

PRiniite, Of panei and pre ielie

Aptibade to sollow verbal and writen instractions and procedures
Problem assessment and problem solving skills

Information gathering and information monitoring

AEntion 1h chetail and ageuracy

Flexibility and adaptability

Customer service orientation

Ability to work as part of a team

np titcitihéainkth «&

_t + &#

pititiit# ## & #

Only properly qualified potential candidates should send their ‘C¥'s for arrival
on or befor: March 31, 2001 via e-mail to naae®winterbotham.oon or via
fax bo 22-35-4692 or via pos) to EO), Teo N06, Ain: Fern Jones, ANP
Head of Winlerbotham Fund Servies

COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT

Equi ite
IN THE MATTER OF ALL THAT piece parce! or lot of land loounias Lot nemoer
Nine (9) in Block Number Twenty (20) in the Sebdrviaia called and Keown as
“Coenmut Cegve" and itvate in the Seuthoms Dictriet of the bland of Mew Providence
one of the [sland of the Coftmonwealth of the Dahamas.

AND
IN THE MATTER OF ‘The Qhicting Tides Act, 1959
AND

IN THE MATTER OF The Petition of Frederica Stuart

NOTICE

‘The Fetiion of FREDERICA STUART of the Southern district of the Idand of New
Providence: ome of the bland of the Conmaorivealih of the Bahamas in eapect of

ALL THAT picce parcel er lot of land being Lot Member Mine: (5) im Block Twenty (29) on the
plan or bots. af the Sebdivision called and keeown at “Cocual Grove” and aitnaie in the Souther
Dated ef the snd of New Providence aforesaid and is membered Qe Hundred and Sixty.
Thee (163) which said piece parcel or Lod of land is bounded on the Noowh by Lot Number Eight
(8) im Block Nurniber Twenty (20) of the said plan and running thereon Chae Hundred and Five
(105) Feet on the East by Lot Number Wine’) in Block Number Toren (20) of the said plan
and penning thereon Filly (20) Feet onthe south by Lot Maraber Ten (10) la Block eombsz
‘Twenty 20) of the said plan and runing thereon (ine Hundred and Fire (105) Feet on the West
fy a private wood in the seid subdivision beown as “Third Sooo” and running thereon Fifty (50)
Feel

FREDERICA STUART claime to be the ouner of dhe fi: simgle exude in possession of the lot
of land hereinbefore deserted (bee from encumbrances.

AND the Petitioner bees made application io the Supreme Court of the said Commeanweaith af
The Bahamas under Section 3 of Thee Quiesing Vithes Act, 1939 in have her tithe te the said parce!
of Land investigated gad the eatere and extent theren determined and dectoned in a Certificate of
Tile to be grammes! in accordance with the provisions of the said Act

NOTICE IS HEREBY GIVEN that any person having dower of ight to Dewer of an Adverse:
Clim ora cham not recegnized in the Petition shall anor befooe the expiration of 15th day of
April, ADL 2011 Gein the Suprense Court and serve on the Petitioner or the untersigned a
Shoe ment of ts claim in Ghe prescribsed area verified by aa adTidavii to be filed therewith,
Fallon of any such person te fikeand seret-a Statement of bis clin on or befoe the Lith

day od April, ALD. 2011 will perme a8 a bar of such claim.

Copies ol the plan may be ineipected at;

The Regatry of the Supreme Cenrt.
Departaent of Lands and Surrey.
The Chanter of Tumgucst & Co Counsel & Anomee-AtLaw, Atomeys for
he Petitioner.
Dotedthe SH day of February, 40, 2011
TURNQUEST & CO
Chambers
4 Massa Sircel
Hirsi, Babeinnee

Attorneys for the Petitianer

FROM page 1B

“We’re likely to be doing
two TIGRS a year, one at the
end of June, one at the end
of the year.”

RoyalFidelity’s TIGRS
family has enjoyed a mixed
performance, their launch
having coincided with the
onset of the global recession -
arguably the severest, and
deepest, downturn since the
1930s Great Depression.

The TIGRS 1 sub-fund,
which matures this June, after
being launched in December
2007, has rebounded some-
what from the negative 12.71
per cent return on investment
suffered during its first year. It
generated positive returns of
7.02 per cent and 5.4 per cent,
respectively, during 2009 and
2010, clawing back much of
the ground lost during its for-
mative first 12 months.

At year-end 2010, the
TIGRS 1 sub-fund, whose
investments are split 25 per
cent each into four index-
linked funds, was showing an
negative return of just 1.53
per cent since inception, with
its net asset value (NAV)
closing at $9.89 per share at
end January 2011.

Mr Anderson said the
TIGRS 1 sub-fund’s perfor-
mance was being impacted
because some of the indices
it had invested in were “still
below water”, but pointed out
that the ‘principal protection’
principal behind the fund

family meant that the down-
side risk for Bahamian
investors was eliminated,
meaning they would recover
all their initial capital invest-
ment plus benefit from any
upside.

“In the overall scheme of
things, we still think it’s the
right recipe,” the RoyalFi-
delity president said of the
international investment fund
strategy. “We still have a
strong belief that over the
next three-five years, the
growth in the global econo-
my will fuel growth in those
emerging market economies,
and their earnings and prices.

“Tn terms of the protection
side, it’s a good fall back posi-
tion for people without the

risk of losing capital....... To
get your money back is a
good thing.”

The principal protection
works through investing a
portion of investor capital into
Bahamian-based fixed income
securities, such as bonds, pref-
erence shares, government-
registered stock and bank
deposits, the certain returns

LEGAL NOTICE

PEPSI-COLA (BAHAMAS)
BOTTLING COMPANY LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the aboved named Company is
in dissolution, commencing the 2% day of February, 2011.
Creditors are required, on or before the 7" day of April
A. D., 2011, to send their names and addresses, and the
particulars of their debts or claims to the attention of Craig
A. (Tony) Gomez, Liquidator of the said Company at the
offices of Baker Tilly Gomez, The Deanery, 28 Cumberland

Street, P.O. Box N-1991,

Nassau, Bahamas, and

if so

required by notice in writing from the Liquidator, to come in
and prove such debts or claims at such time and place as
shall be specified in such notice, or in default thereof they
will be excluded from the benefit of any distribution made
before such debts are proved or precluded from objecting

to any such distribution.

DATED the 2"¢ day of February A. D., 2011

Craig A. (Tony) Gomez
Liquidator

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, (No.45
of 2000) that STAEL HIGH YIELD FUND LIMITED
(IBC No. 128658 B) is in dissolution. Mr. Roberto Carlos
de Castro Abreu is the Liquidator and can be contacted
at Avenida Arriaga, n.° 77, Edificio Marina Forum,
6.° andar, Funchal - Madeira, 9000-060, Portugal. All
persons having claims against the above-named company
are required to send their names, addresses and particulars
of their debts or claims to the Liquidator before April 11%,

2011.

Mr. Roberto Carlos de Castro Abreu
Liquidator

ifyou're thinking
of buying a home,

getit
Inspected
first!

its the smartest move you can make.

Check us out online at

Wir .dunnghti nspect 1ONS.COM

or call today for a quote.

424-3368

Serving all thay lars ol The Bahamas

We abate by the Standards of Practice aed Dex

io of Eiicg of ASHI lmrigan Sony

DUNRIGHT..

66 |i
Home Inspections

| Horne neering

from this ensuring no losses
are suffered on the interna-
tional investments.

Elsewhere in the TIGRS
family, the TIGRS 2 index-
linked sub-fund, which is
invested in the same indices as
its TIGRS 1 cousin, has ben-
efited from being launched at
a later date, June 2009, when
the markets had recovered
somewhat.

During its first six months,
it generated positive returns
of 13.38 per cent and, while
these slowed during 2010,
TIGRS 2 still finished the
year with a 2.61 per cent
upside, taking total returns
since it launched to 16.33 per
cent.

The TIGRS 2’s NAV was
$11.05 at the end-January
close.

The TIGRS 3, the fund that
was unveiled in March 2010
to invest in three commodi-
ties-linked indices - copper,
nickel and gold - remains in
positive territory with a 0.25
per cent return, yet it is the
equities sub-fund that remains
the most disappointing per-
former, having generated a
negative 16.02 per cent return
to end-December 2010.

As for TIGRS 4, which was
offered to Bahamian investors
towards the end of last year,
Mr Anderson acknowledged
RoyalFidelity’s continued dis-

appointment that it had only
raised $1.5 million, or less
than 30 per cent, of its $1.5
million target.

“Tt’s unfortunate, as we did
not get the institutional sup-
port we were expecting,” he
told Tribune Business, “and
the timing was such that peo-
ple were not convinced that
the emerging markets were
the place to put their money.

“It’s one of those things
people need to get educated
on. It will improve. I think it
just comes from uncertainty
and reluctance to take the
risk, even though there’s no
risk to capital.

“People stuck with safety;
the investments they know.”

RoyalFidelity's TIGRS 4
fund was structured to pro-
vide 60 per cent equity expo-
sure to emerging market
economies such as China,
Brazil, Taiwan, Korea and
Singapore, balancing this with
20 per cent exposure to the
S&P 500 Index and the MSCI
European, Australasian and
Far East Indices.

This reflected RoyalFideli-
ty's belief that emerging mar-
kets will provide better
growth and investment return
opportunities over the next
five years than developed
country economies, growing
at 6-8 per cent as opposed to
2-3 per cent.

LEGAL NOTICE

IN the Matter of PEPSI-COLA (BAHAMAS)
BOTTLING COMPANY LIMITED

(In Voluntary Liquidation)

By Written Consent Resolution of the Shareholders
taken effective on the 2â„¢ day of February, 2011, the
following resolution was adopted:

RESOLVED that the Company voluntarily wind up its
affairs and dissolve its corporate existence and that
Craig A. (Tony) Gomez of Baker Tilly Gomez, The
Deanery, 28 Cumberland Street, P.O. Box N-1991,
Nassau, Bahamas, be appointed Liquidator of the
Company for the purposes of such winding up and

dissolution.

DATED the 2"¢ day of February A. D., 2011

Craig A. (Tony) Gomez
Liquidator

Bahamas Electricity Corporation

Tender

The Bahamas Electricity Corporation invites
Tenders for the services described below:

Tender No. 747/11
Group Medical & Life Insurance Services

Bidders are required to collect packages from
the Corporation’s Administrative Office, Blue
Hill & Tucker Roads

Contact: Ms. Charlene Smith at telephone
302-1158

Submissions should be marked as follows:

Mr. Kevin Basden
General Manager
Bahamas Electricity Corporation
Executive Offices — Blue Hill & Tucker
Roads
Nassau, Bahamas

Tender No. 747/11

Group Medical &
Life Insurance Services

Deadline for delivery to BEC:
March 25, 2011
no later than 4:00 p.m.

The Corporation reserves the right to accept
or reject any or all proposals.

For all inquiries regarding the tenders please
contact Mrs. Antionette Turnquest

at telephone 302-1166



THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 5B



=
FINCO: NO “START-STOP’ DIVIDEND RESUMPTION

FROM page 1B

Bahamian subsidiary, to resume
dividend payments during its
2011 financial year, Tanya
McCartney said FINCO’s “do
not want to start and stop”
investor returns.

Pointing out that FINCO’s
improved $18.2 million profit
for the year to end-October
2010, a $13.6 million improve-
ment on 2009, was driven
entirely by a $13.7 million drop
in credit allowances as a result
of changes to its loan loss pro-
visioning policy, Ms McCart-
ney told Tribune Business:
“The chairman of my Board
would say to you that the
improvement in results is pure-
ly the change in provisioning
policy, and not the result of
improvements in the non-per-
forming loan portfolio.

“The Board is going to con-
tinue to look at our non-per-
forming loan position as well
as provisioning. They’re the two
main factors we’re looking at -
non-performing loans and the
level of provisioning - on a
quarterly basis. There are other
factors as well, but there are
the two main ones that have
factored into our deliberations
in the past as to whether to
make a dividend payment.”

And she added: “Those two
things are impacting our ability
to pay dividends. We want to
be in a position where we
resume dividend payments and
are able to sustain them. We
do not want to start and stop.”

FINCO’s financials disclosed
that its non-accrual (non-per-
forming) loan portfolio, con-
sisting of credit more than 90
days past due, accounted for
10.47 per cent of its $847.212
million portfolio at year-end
2010 - some $88.64 million.

Ms McCartney acknowl-
edged that there had been fur-
ther slippage in the non-accru-

al column since end-October
2010, and told Tribune Busi-
ness: “We are being cautious
and doing all we can internally
to manage our delinquent port-
folio. It continues to deterio-
rate, even though the pace of
deterioration has slowed. Until
we see some positive trends,
we’re going to be cautious and
conservative.”

While some borrowers had
“over-extended” themselves,
the FINCO managing director
acknowledged that much of the
non-performing loan deterio-
ration had resulted from the
general economic environment,
as clients who had been made
redundant or seen a reduction
in their incomes were simply
unable to repay their loan
obligations.

“T can’t stress that enough,”
Ms McCartney said of how the
general economic malaise was
impacting FINCO’s perfor-
mance. “We are optimistic that
once the economy turns around
and employment levels start to
improve, we will see some
improvement in the non-per-
forming loan book.

“It depends on whether this
economy really starts to turn
around. There are a lot of
things happening in terms of
new investment - Baha Mar,
the new airport. Hopefully, we
will have some more to inject
life into this economy and ben-
efit us. But until people get
back to work and are able to
pay their bills, we won’t see
much of a change.

“Once things start to reverse,
we will be in a much better
position, because we will be
able to reverse those provisions
back into the net income line.”

Reiterating the message she
delivered to shareholders when

FEB 28 2un

they contacted her with con-
cerns over FINCO’s current
financial performance, Ms
McCartney told Tribune Busi-
ness: “You can see it’s a direct
result of the non-performing
loans.

“Tf you look at our efficiency
ratio, loan growth and keeping
expenses flat, you can see we
run an efficient operation. It’s
tied to provisioning and non-
performing loans.”

Ms McCartney told this
newspaper that FINCO’s effi-
ciency ratio was in the 36-40
per cent range, and said the fact
that it was purely a (largely res-
idential) mortgage lender had
“sort of magnified our situa-
tion”.

Mortgages

Mortgages have been the
loan segment hardest hit in the
recession, and FINCO has no
other product on which to fall
back unlike rival commercial
banks, but Ms McCartney
acknowledged this cut both
ways, given that its loans were
largely secured on the under-
lying real estate.

“We are in a very good posi-
tion because of the security of
the real estate,” she told Tri-
bune Business. “We’re holding
it. If you look at every other
line in the figures, you will see
we are in pretty good shape.”

The change in loan loss pro-
visioning reduced FINCO’s
credit loss provisions by $8.9
million $8.9 million during its
2010 financial year. It reduced
the allowance for credit (loan)
losses from the 40 per cent of
non-accrual loan threshold used
in 2009 to 30 per cent last year.

This move, following a Board

SUPREME COURT |

COMMON WEALTH OF THE a

2010

and management review of
FINCO's provisioning policy,
which assessed factors such as
the quality of security held over
its mortgage portfolio and
recovery rates, resulted in a
considerable boost to the mort-
gage lender's 2010 financial
results.

"This review resulted in the

Corporation [FINCO] reduc-
ing its provisioning policy ratio
to 30 per cent of non-accrual
loans, and a reduction of $8.9
million in the amount charged
for provision of credit losses,"
the financial statements, audit-
ed by Deloitte & Touche, stat-
ed.

"While current provisions are

considered conservative, the
Corporation will continue to
review its provisioning policy
and methodology to ensure that
levels remain appropriate and
conservative.”

The $8.9 million reduction in
FINCO's loan loss provisions
went straight back into the
income statement, and were a
key factor behind the lender's
dramatically improved perfor-
mance in 2010 compared to the
previous year.

In order to strengthen our team in Nassau, we have an
employment opportunity for a

Senior Officer, Banking Operations

Responsibilities will include :

Set up & implementation of a risk framework,

in accordance with Basel Il & group policy requirements
Administration and accounting of different types of funds
Administration of a ‘Lombard’ credit portfolio
Organisation and management of an Operations

department

Liaison with Group head office for implementation of new

projects

Minimum requirements :

Bachelor’s Degree in Accounting or Finance
CPA, CA or equivalent professional certification

Fluency in French, both written and oral

Proven track record of minimum five years in both risk
supervision and fund administration
Ability to work with minimum supervision

Computer literacy with track record in project management
Must possess a high level of integrity and professionalism
Ten years of professional experience

The ideal candidate must possess strong analytical skills, and have
an extensive knowledge of IFRS and Basel II banking regulations.

Salary is commensurate with experience and qualifications.

Interested and qualified persons may submit their resume no later
than March 23rd 2011 to:

C/O Da 101431
P.O.Box N3207

IN THE SUPREME COURT CLEfqav Mo; 163]

- a SASS AL, BAHAMAS
Common Law & Equity Diviaion == — —.——————-

IN THE MATTER of the Quieting Titles Act, 1959

ALL THAT pisces parcel of tract of Land totalling 11.27
acres situate om Stocking Island near the Settlement of
Grecege Town on the bland of Great Exoma one of the
lalends. of the Commonwealth of The Bahamas.

AMT

IN THE MATTER OF the Pelitkm of Low Marshall
and irene Strachan

AMIE MIRED) BOT E
THE PETITION of Lois Marshall and [rene Strachan im respect of:
“ALL THAT tract of land siteate on Stocking Island near Great
Exuma boemded Neethesstwardy by Crown Land separating it
from the sea Southesstwardly by vaca Crown Land aad land
gramted Amthony Forbes Woestwardiy and Sowthwestwandiy by
Crven Land aed Morthwestwardly by land surveyed to Henry
Evans.”
Lots Flarshall and Irene Strachan claim te be the owners of the unencambered fee dimple estate in
pseasion of the said land and have made application to the Supreme Coert of the
Commenwealth of The Bahamas ender Section Three (4) of the Chadeting Titles Act, 1999 to hove
their title bo the said land investigated and the mature and extent thereof determined and declared
in a Certificate of Tithe to be granted by the Court in acecedance with the provisions of the saad
Act.
Copies of the Petition amd the Plan of the said land may be inapected during normal office hours
in the following places:
|. The Regisery of the Supreme Court, East Sereet Noeth in the City of Massau,
Bahamas, tee:
The Chambers. of Lockhart & Oo, 835 Buen Retirg Road, off Shirley Street, Massa,
Bahamas; and,
NOTICE is hereby given that any person having dower or right to dower or an Adwerse Claim oe
a claim mot recognized m the Petttion shall on of before the expiration of Thirty (0) days after
the final publscation of these peesemcs, file in the Supreme Court and serve on the Petitioners or
the undersigned a Statement of his claim in the prescribed foom verified by an affidarit te be filed
Cherewith.
Failure of any seach person to file and serve a Stasement of bis Claim on or belore the
expiration of Thirty (30) days after the final publication of these presents will operate as a bar io

such claim.

Dated the 28% day of February A Th 311

LoellaAt Cy
LOCKHART & Co *
Chambers

434 Buen Retiro Road
cdf Shirley Street
Nassau, The Bahamas

Adomeys for the Petitioners



Nassau, Bahamas.

J

BAHAMAS FIRST

FIRST IM IRSWURANCE. TODAY. TOMORROW

Career opportunity for an ambitious career oriented individual

Motor Engineer

Major Responsibilities:

¢ Conduct inspections of damaged vehicles and compile and
review repair estimates
Conduct pre and post-inspections of vehicles at BFG
Inspection Centre to determine market value, road
worthiness and acceptability of risk
Conduct on-scene accident investigations, take statements
and measurements
Monitor and control repair work with Approved Garages
Prepare reports and input data in the system
Provide customer service
Travel to the Family Islands

Qualifications:

¢ High School Diploma

¢ 5 B.C.C.S.E.’s or equivalent with C passes or above,
including English and Mathematics

¢ Minimum 2 years experience in auto mechanics

¢ Experience in Automobile and Mechanical bodywork,
Traffic Collision Investigation, Repair, Refinishing,
Electrical and Engine Overhauling

¢ Strong customer service, communication and interpersonal
skills

¢ Proficiency in Microsoft Office Applications

Compensation commensurate with relevant experience and
qualifications. On the job training will be provided.

The Bahamas First Group is the largest property and casualty
insurance company in the Bahamas and has an A- (Excellent) Rating
from A. M. Best, reflecting the company’s financial stability and
sound risk management practices.

Please apply before March 18", 2011 to:
Group HR & Training Manager
Bahamas First Corporate Services
P.O. Box SS - 6268
Nassau, Bahamas

Or email to:
careers@ bahamasfirst.com





PAGE 6B, MONDAY, MARCH 14, 2011

ee -) > \ =;
Gov't urged: Maniiate 20% Bahamian participation



FROM page 1B

because they have the financ-
ing. At some point, we’re going
to have to reserve some com-
ponent for Bahamian partici-
pation. Whether it’s as part of a
Bahamian joint venture, I don’t

Expressing hope that the

Government stipulated some
form of Bahamian involvement
in the MoU with China Har-
bour Engineering Company,
Mr Wrinkle said the BCA and
wider construction industry
would like the model achieved

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No. 45 of 2000)
LIQUIDATOR’S STATEMENT
PURSUANT TO SECTION 138(6) OF THE
INTERNATIONAL BUSINESS COMPANITES ACT

I, Ronald H. Knowles, Liquidator of DOREE LIMITED
HEREBY CERTIFY that the winding up and dissolution
of DOREE LIMITED has been completed in accordance
with the Articles of Dissolution.

over the $2.6 billion Baha Mar
project, where some $400 mil-
lion or 20 per cent of the total
construction work, was
reserved for Bahamian con-
tractors. “If we can get 20 per
cent of the work they will be
doing, that'll be good,” Mr
Wrinkle told Tribune Business
of China Harbour Engineering
Company. “That’s in keeping
with the amount we have with
that [Baha Mar] foreign direct
investment project.

“We hope the Prime Minis-
ter has sought to include some
form of Bahamian participa-
tion. He’s aware of the prob-
lem, and is doing his best to
make sure we get part of it. Mr
Ingraham’s a shrewd negotia-
tor, and I have every confi-
dence that he will do his best
for us. What that is, I don’t
know.”

And the BCA president
added: “Certainly, islands like

readily available, we’d like to
ensure maximum Bahamian
participation.

has the same sentiments, and

prudence goes a long way.”

details were provided.

taken by China Harbour Engi-

embankments.

THE TRIBUNE

Biofuel facility’s

“[’m sure the Government r Ss ects C are
we always have the ability to Pp Pp
say ‘no’ to their offer. A little } 5

not rosy’: Wells

Neko Grant, minister of
works, said at the MoU sign- }
ing that China Harbour Engi- }
neering Company would part- i
ner with Bahamian contractors }

FROM page 1B

At that time, Mr Wells said he expected the issue of financing for

? the biofuel plant, which would convert raw organic material into
opie Maid tras ea ae ? fuel which could be used to power vehi-
The projects being under- ? cles, would have to be resolved “within the
? next six months” or the group would lose its
neering Company include } purchase option on the facility and the
designing and building the : money they had invested in it.
North Abaco Port and by-pass }

road: a bridge between Little ? with potential stakeholders about where

and Great Abaco; a port and } the necessary biomass to make the fuel
oo rae feasibility of growing some of it in the

Bridge and approaching } Bahamas.

Last week, Mr Wells said talks continue

could be sourced for from, including the



TENNYSON WELLS

Meanwhile, in terms of export markets,

New port facilities will be ? given that there is not enough demand in

? the Bahamas for the quantity of fuel set to be produced at the plant,
eu ae ey a ? Mr Wells admitted there has been “no headway” made in this

Abaco and at the Navy Dock i

area.

: : However, he said the investor group “‘is still hoping to do it”, and
ee a ? the owners of the plant have reed that they will nee lose their pur-
? chase option just yet, despite the deadline having elapsed.

? “They haven’t put a limit on it. They have said if you can put
? together the package then we will deal with you,” said Mr Wells.

Dated the 9th day of March 2011 Bea yi ee mp lovaeat

is high and the pool of labour is = ma



Ronald H. Knowles
Liquidator

COMMONWEALTH OF THE BAHAMAS ~— 2008
IN THE SUPREME COURT

COMMON LAW AND EQUITY DIVISION
CLE/GEN/01311

BETWEEN

BANK OF THE BAHAMAS LIMITED
Plaintiff
AND

EDWIN BASTIAN
AND

PATRICK FERGUSON
Defendants

NOTICE OF ADJOURNED HEARING

TAKE NOTICE that the Summons filed
on the 9" day of March, A.D., 2009 and set down
to be heard on Monday the 30° day of July, A.D.,
2009 at 11:30 o’clock in the morning will now be
heard before a Deputy Registrar, Marilyn Meeres
the Supreme Court, Ansbacher Building, Bank
Lane, Nassau, The Bahamas on Monday the 4*
day of April, A.D., 2011 at 12:30 o’clock in the
afternoon.

Dated this 14‘ day of September, A.D., 2010

REGISTRAR

This Notice was taken out by Messrs. Gibson,
Rigby & Co., Chambers, KI-Malex House,
Dowdeswell Street, Nassau, The Bahamas,
Attorneys for the Plaintiff.

COMMONWEALTH OF THE BAHAMAS 2007
IN THE SUPREME COURT

COMMON LAW AND EQUITY DIVISION CLE/GEN/00150

BETWEEN

BANK OF THE BAHAMAS LIMITED

Plaintiff
AND

AKETHA ADASSA ADDERLEY

Defendant

NOTICE OF ADJOURNED HEARING

TAKE NOTICE that the Order for
Examination filed on the 28" day of October,
A.D., 2009 and set down to be heard on
Thursday the 11" day of February, A.D., 2010
at 11:30 o’clock in the morning will now be
heard before a Deputy Registrar, Marilyn
Meeres of the Supreme Court, Ansbacher
Building, Bank Lane, Nassau, The Bahamas
on Thursday the 24' day of March, A.D.,
2011 at 2:30 o’clock in the afternoon.

Dated this 10 day of September, A.D., 2010

REGISTRAR

This Notice was taken out by Messrs. Gibson, Rigby
& Co., Chambers, Kl-Malex House, Dowdeswell
Street, Nassau, The Bahamas, Attorneys for the
Plaintiff.



NOTICE

NOTICE is hereby given that ROMANDO JEAN of
MALIBOO REEF #4, FREEPORT, GRAND BAHAMA,
BAHAMAS is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 14th day of
MARCH, 2011 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

IN THE ESTATE OF Frank Kucera late
of White Harrington, Quebec, Canada.

NOTICE is hereby given that all persons
having any claim or demand against
the above Estate are required to send
the same duly certified in writing to the
undersigned on or before the 14 day of
April A.D., 2011, after which date the
Executors will proceed to distribute the
assets having regard only to the claims of
which they shall then have had notice.

AND NOTICE is hereby given that all
persons indebted to the said Estate of
Frank Kucera are requested to make
full settlement on or before the date
hereinbefore mentioned.

NADIA A. WRIGHT
Attorney for the Executors
Chancellors Chambers
P.O. Box N-4589

COMMONWEALTH OF THE BAHAMAS 2008
IN THE SUPREME COURT

COMMON LAW AND EQUITY DIVISION CLE/GEN/00443

BETWEEN
BANK OF THE BAHAMAS LIMITED

Plaintiff
AND

JACQUELINE JOHNSON
Defendant

SUMMONS

LET ALL PARTIES concerned attend
before Deputy Registrar, Marilyn Meeres, of
the Supreme Court, Supreme Court Building,
Bank Lane, Nassau, The Bahamas. on
Thursday the 12" day of May, A.D., 2011 at
12:30 o’clock in the afternoon for the hearing
of an application on the part of the Plaintiff
for an Order for leave to enter Judgment in
Default of Appearance pursuant to Order 73
of the Rules of the Supreme Court for the
amount claimed in the Statement of Claim with
interest, as therein claimed and costs.

TAKE NOTICE that a party intending
to oppose this application or to apply for a stay
of execution should send to the opposition
party or its Attorneys to reach them not less
than three (3) days before the date above
mentioned a copy of any Affidavit intended to
be used.

Dated this 23° day of February, A.D., 2011

REGISTRAR

This Summons was taken out by Messers. Gibson,
Rigby & Co., Ki-Malex House, Dowdeswell Street,
Nassau, The Bahamas, Attorneys for the Plaintiff.

COMMONWEALTH OF THE BAHAMAS 2000
IN THE SUPREME COURT
No. 35

Equity Side

BETWEEN

IN THE MATTER of all that piece parcel
or lot of land situate in the Eastern District
of the Island of New Providence one of the
Islands of the Commonwealth of The Bahamas
comprising Seven Thousand and Fifty-
eight (7,058) square feet and being bounded
NORTHWARDLY by Prince Charles
Highway running thereon Sixty eight and Fifty-
six hundredths (68.56) feet SOUTHWARDLY
by Pine Barren Road running thereon Sixty-
One and Seventeen hundredths (61.17) feet
EASTWARDLY by land said now or formerly
to be the property of Lorenzo Brice running
thereon Ninety-eight and One hundredths
(98.01) feet and WESTWARDLY by land
now or formerly the property of Iva Robins
and running thereon One hundred and Twenty
eight and Forty-four hundredths (128.44) feet.

AND

IN THE MATTER of The Quieting Title Act 1959
Chapter 357 Statute Law of The Bahamas (the Ac/).

AND

IN THE MATTER of The Petition of
Donald W. Newton

AMENDED NOTICE OF PETITION

Take notice that by Amended Petition filed in the Supreme
Court of The Bahamas on December 302010 DONALD
NEWTON of Blue Hill Estates, New Providence, The
Bahamas (“the Petitioner”) claims to be the owner in
fee simple in possession of the above captioned land and
has applied to the Supreme Court of The Bahamas under
section 3 of the Act, to have his title to the captioned land
investigated and the nature and extent thereof determined
and declared in a Certificate of Title to be granted by the
Court in accordance with the provisions of the Act. A
Recorded Plan of the said land may be inspected during
normal office hours at The Registry of The Supreme Court,
Ansbacher House, East Street, Nassau, The Bahamas; and
the Chambers of Cedric L. Parker & Co. No. 9 Rusty
Bethel Drive, Nassau, The Bahamas.

TAKE NOTICE that any person having dower or right
of dower or any adverse claim or a claim not recognized
in the Amended Petition must on or before the expiry of
Thirty (30) days following final publication of this Notice
file in the Supreme Court and serve on the Petitioner and
the undersigned a Statement of his Claim in the prescribed
form, verified by an Affidavit to be filed therewith together
with a plan of the area claimed and an abstract of title to
the said area claimed by him. Failure of any such person
to file and serve a Statement of his Claim on or before the
thirtieth (30) day following final publication of this Notice
will operate as a bar to such claim.

AND TAKE FURTHER NOTICE that the Pre-Trial
Review will be held before the Honourable Mr. Justice
Adderley in Chambers on Thursday the 5” day of May
A.D. 2011; and the Trial herein will take place before the
Honourable Mr. Justice Adderley on Thursday the 2"4
day of June A.D. 2011.

CEDRIC L. PARKER & CO.
Chambers
Neil’s Court
No. 9 Rusty Bethel Drive,
Nassau, The Bahamas
Attorneys for the Petitioner





THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 7B



BIG rival ‘not happy’ on cellular monopoly

FROM page 1B

Bahamas to “move on”.

“T just wish the day would
come when we can compete
in the mobile area,” Mr Hut-
ton-Ashkenny told Tribune
Business. “That’s the one area
that remains a concern to us,
but there is nothing we can
do to change that.

“The only good coming out
of it as far as mobile is con-
cerned is the clock is ticking
now. The end is in sight,
whereas the day before yes-
terday, there was no end in
sight.”

To preserve BTC’s value
and encourage CWC to pay
the $210 million purchase
price, as well as minimise the
‘voluntary redundancy’ exer-
cise that will take place over
the next year at BTC, the
Government is moving to
amend the Communications
Act and regulations to extend
BTC’s post-privatisation cel-
lular monopoly from two to
three years.

This means that the bidding
process for a _ second
Bahamas-based cellular

licence will only start in April
2014. Given that it will possi-
bly take one year to award
the licence, and another year
for the winner to get their
infrastructure ready, it is pos-
sible cellular competition may
only become a reality in 2016.
And the third cellular licence
will only be offered five years
after privatisation is complet-
ed.

“We’re obviously not hap-
py that the mobile monopoly
is going to remain in place for
a number of years, but at least
there is an end to it once the
sale is closed,” Mr Hutton-
Ashkenny told Tribune Busi-
ness. “There is light at the end
of the tunnel, but the con-
sumer will have to have a lit-
tle bit of patience yet.”

Of the Utilities Regulation
& Competition Authority’s
(URCA) decision to approve
CWC’s acquisition of BTC,
Mr Hutton-Ashkenny said:
“[’m not in the slightest bit
surprised. It was a foregone

conclusion.

“Tt’s time to move on, and it
looks like we’ll be moving on
with CWC in control at BTC
and ourselves merged with
Cable Bahamas.”

The latter was itself not
happy with several details sur-
rounding the impending
CWC acquisition of BTC. Tri-
bune Business was able to
confirm that the BISX-listed
company, which is set to be a
privatised BTC’s leading com-
petitor in the local market,
was indeed the respondent to
the URCA consultation who
suggested that the privatisa-
tion by CWC would create “a
substantial lessening of com-
petition in several markets”,
as it meant the company’s
Caribbean business, LIME,
would not enter the Bahamas
as acompetitor to BTC.

Noting BTC’s dominant
share of the fixed-landline
and cellular markets, where
according to URCA the state-
owned incumbent holds a 98

IN THE ESTATE OF John Egbert Tertullien late of No. 5 Blue Hill
Estates, New Providence, Bahamas.

NOTICE is hereby given that all persons having any claim or demand
against the above Estate are required to send the same duly certified in
writing to the undersigned on or before the 10" day of April A.D., 2011,
after which date the Executors will proceed to distribute the assets having
regard only to the claims of which they shall then have had notice.

AND NOTICE is hereby given that all persons indebted to the said Estate
of John Egbert Tertullien are requested to make full settlement on or
before the date hereinbefore mentioned.

NADIA A. WRIGHT

Attorney for the Executors
Chancellors Chambers

P.O. Box N-4589
Nassau, Bahamas

‘ The Bahamas

per cent and 100 per cent
market share, respectively,
Cable Bahamas argued that
the extension of BTC’s post-
privatisation cellular monop-
oly from two to three (likely
four) years, had effectively
extended the company’s abil-
ity to cross-subsidise its other
businesses with profits from
the cellular side.

“The transaction will cause
a lessening of competition in
the fixed markets, as it
extends the licensee’s ability
to leverage its mobile monop-














oly to impede the growth of
competition in the fixed voice,
broadband, domestic long dis-
tance and international long
distance market,” Cable
Bahamas said.

“The transaction will cause
a lessening of competition in
the international services mar-
kets because [CWC] will have
an incentive and the ability to
favour [BTC] over other
operators licensed to provide
international services to cus-
tomers in the Bahamas.”

And Cable Bahamas also

expressed concern that CWC,
with its ‘One Caribbean’
operating model, “would be
in a position to cross-sub-
sidise” BTC by providing
operational, management and
administrative services to it
at lower prices, enabling the
privatised entity to “engage
in anti-competitive cost shift-
ing”.

“These practices may not
be addressed by, or be
detectable under, URCA’s
current cost accounting and
accounting separation rules,”
it added. URCA, though, dis-
missed all these arguments.

A Tribune affiliate holds a
small, passive stake in SRG.

The Bridge Authority
NOTICE

All Paradise Island Employers & Employees, all Paradise Island Residents, all
Transportation Companies and the General Public are hereby notified that The
Bridge Authority will be undertaking inspection works to the NEW Paradise Istand
Bridge with effect from the Monday March 21" to Friday April 1 2011. This exercise
will affact the Eastem side of the westem Bridge and Lane 4 of the Toll Plaza.



The inspection work will be conducted during off-peak traffic times between the
hours of 10:00am - 3:00pm, Monday to Friday. Work may resume after 3:30pm or
when traffic reduces, if needed, in onder to ensure that work is completed on

schedule,

Individuals, who access Paradise Island via Transponders in Lane 4, can now utilize
their Transponders in any one of the other lanes.

The Bridge Authority apologizes for any inconvenience caused, and assures if
Customers and Stakeholders, that all efforts will be made to have the inspection
works conduded aS quickly as possible,

Billy Scavella
General! Manager
The Bridge Authonty

_ Maritime Authority

Assistant Director (Seafarers and Manning)

Applications are invited for the position of Assistant Director in
the Seafarers and Manning Department of the BMA’s London
office. The Seafarers and Manning Department is responsible for
all aspects related to the training, certification and approval of
seafarers and STCW courses, and the assessment of the manning
and ILO MLC 2006 provisions for The Bahamas flagged fleet.

The successful candidate will be employed at a supervisory level
with duties including:
*Representing the Authority at meetings/forum on matters
relating to seafarers training and manning
*Oversight of the BMA processes and development of national
policies relating to seafarers, STCW course approval, safe
manning and ILO MLC 2006
*Provision of training and manning guidance/assistance to
Owners, Managers and the Authority’s other stakeholders
«Audit activities

Candidates for the post should have a STCW management level
certificate or university degree (in a maritime field) with practical
and theoretical knowledge of STCW Convention/Code and the
international principles on manning of ships. The candidate
should also be a qualified ISM or ISO auditor with experience
in conducting audits. Applicants with other relevant experience/
expertise and applicants qualified in the field of maritime training/
education will also be considered.

Applicants are invited to write, enclosing a copy of their C/V,
and details of their current salary to: Director, The Bahamas
Maritime Authority, 120 Old Broad Street, London EC2N 1AR,

U K, or by email to: dhutchinson@bahamasmaritime.com

Closing date for applications is 18 March 2011.
All applications will be acknowledged.

The (sovemmnent of The Bahamas has received financing under the Presidenc’s Emergency
Plan for AIDS Relief (PEPEAR) to manage HIV ADDS Sorategic Intonation, Laborarory
Testing aod Prevention Programs,

The Ministry of Health invites application to fill positions of Serategic Laboratory
Strengthening Manager and Information Management Business Analyst,

POSTS POR IMMEDIATE HIRING
STRATEGIC LABORATORY STRENGTHENING MANAGER

General Function

The succeseful candidate will be responsible for the provision of laboratery quality assurance
advice and assistance te the various laboratones in country, to support surveillance for HIV’,
STL, TH, C31, and emerping diseases. The: candidate wall establish and imi pbemient (A
standards and operating procedures, inchading specimen and inventory managenerne,

Wark closely with the PEPFAR Laboratory Implementing Parmer (APENET) to carry out
laboratory gap analysis, resolve non-conformances, assist in the emplementation of the ISO
15789 Quality Management System (M13) and accreditation of the Integrared Public Health
Laboratory

Education and Experience

a) Masters or Deectoral depree in hbortory sciences, bixmedcical research, or related held:
b) Experience in clinical laboranory practice;

C) Rowledge of ineermacional laborarory standards; focus on HIV, TE and STT diagnosis
and clinical menitering.

loterestad persons are Invited to swhnnuta cover letter, cument coumiculum vitae and phono in
Word of PDF formar to paulabowlegiaibahamas.povlbs. Applications must be received by
Spm on Thuraday, March 17, 2001

General Purpose

‘The Business Analyst is responsible for supporting information management initiatives
across the Ministry of Healeh (MOH), with a focus on developang custom reports to enable
HIV ATS managemen.

The Business Analyst will document clinical information ayatern requirements for the
National AIDS Program, support the onplementation of systems across clinics, and develop
and implement business and clinical reports to enable decision making.

Education and Experience

a) Bachelors degree in Public Health Adminiseration, Information Management, or related
field;

b) Three to five (3 to 3) pears of experience in a related position, preferably in the health
field;

¢) Softeare application expertise in clinical information syspema, sprcadshects, and databases;
a) (Certification, experience in Project Management iS an asset

Salary will be commensurate with degree and experience and inchades standard project
benefice,

Interested persons are invited to submut a cover letter, curment curricuhum vitae and phobo in
Word or POP foomar to paulabowlegi@ibahamas,povlbs. Applications must be recerved by
Spm on Thursday, March 17, 2011





PAGE 8B, MONDAY, MARCH 14, 2011

THE TRIBUNE



BUSINESS
©) RoyalFidelity Market Wreipe (crimson rm

BOND MARKET - TRADING STATISTICS

BISX SYMBOL
FBB13

DESCRIPTION

FBB Series 0
C Notes Due 2013

FBB15 FBB Series

D Notes Due 2015

FBB17 FBB Series

A Notes Due 2017

FBB22 FBB Series

B Notes Due 2022

NOTICE

NOTICE is hereby given that JANET BEVERLY MILLER
of P.O. BOX 23331, FRESH CREEK, ANDROS,
BAHAMAS is applying to the Minister responsible for Nationality
and Citizenship, for registration/naturalization as a citizen of
The Bahamas, and that any person who knows any reason why
registration/naturalization should not be granted, should send a
written and signed statement of the facts within twenty-eight days
from the 7" day of March, 2011 to the Minister responsible for
nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

COMMONWEALTH OF THE BAHAMAS
IN THE SUPREME COURT
Equity Side

2009/CLE/qui/980

IN THE MATTER of ALL THAT tract of land
comprising of Nine Hundred and Seventy Eight
and Fifty-five Hundredths (978.55) acres being the
Archibald Taylor Estate and more commonly known
as Pemberton Estates situate approximately 1.5 miles
SOUTHWEST of the Settlement of Clarence Town
in the vicinity of Galloway Landing on the Island of
Long Island one of the Islands of the Commonwealth
of The Bahamas.
AND

IN THE MATTER of the Quieting Titles Act 1959
(Chapter 393 of the 2000 Revised Edition of the
Statute Laws of The Bahamas)

AND

IN THE MATTER of the Petition of
Ellison Kenneth Minnis

NOTICE

Pursuant to the Order of the Supreme Court filed the
23" day of February, A.D. 2011.

The Petition of Ellison Kenneth Minnis,
of the Southern District of the Island of New
Providence, one of the Islands of the Commonwealth
of The Bahamas, in respect of:-

ALLTHAT tract of land comprising of Nine Hundred
and Seventy Eight and Hifty-five Hundredths
(978.55) acres being the Archibald Taylor Estate
and more commonly known as Pemberton Estates
situate approximately 1.5 miles SOUTHWEST of
the Settlement of Clarence Town in the vicinity of
Galloway Landing on the Island of Long Island
one of the Islands of the Commonwealth of The
Bahamas.

Ellison Kenneth Minnis, claims to be the owner of
the land the subject of this Petition hereinbefore
described in fee simple free from encumbrances.

And the Petitioner has made application to the
Supreme Court of the aforesaid Commonwealth of
The Bahamas under Section 3 of the Quieting Title
Act (Chapter 393), to have her title to the said tract
of land investigated and the nature and extent thereof
determined and declared in a Certificate of Title to
be granted in accordance with the provisions of the
said Act.

Notice is hereby given that all persons
having Dower or a right of Dower or an Adverse
Claim or a Claim not recognized in the Petition shall
on or before expiration of Thirty (30) days after the
publication of these presents file in the Supreme
Court and serve on the Petitioner or the undersigned
a statement of his claim in the prescribed form
verified by an affidavit to be filed therewith.

Failure of any such person to file and serve
a Statement of his claim on or before the expiration
of Thirty G0) days after the publication of these
presents shall operate as a bar to such claims.

Copies of the filed plan may be inspected at:
The Registry of the Supreme Court;

The Chambers of ALLEN, ALLEN & CO., the
Attorneys for the Petitioner, whose address for
service is Allen House, Dowdeswell

Street, Nassau, N. P. The Bahamas.

Attomeys for the Petitioner

VOLUME

















PAR VALUE
$1,000

$1,000

$1,000

$1,000



ED FIELDS

FROM page 1B

to invite him to take the chair-
manship once the IPO is com-
pleted.

News of Mr Francis’s
impending appointment also
came out during presentations
given by Commonwealth Brew-
ery to leading institutional
investors, regarding the IPO,
last week, Tribune Business
understands. And this newspa-
per can also confirm that the
other Bahamian set to be
appointed to Commonwealth



& MUSEUMS CORPORATION

Director Required

The Antiquities, Monuments and Museum Board of The National Museum of The
Bahamas, a statutory body (wwww.ammecbahamas.com) established in 1998 is
seeking a Director to lead the institution.

The Director will be responsible for the fulfillment of the institution’s Mission
Statement. This will include:

* Refining and implementing a Strategic Plan jointly developed with the Board

* Financial planning and management, and the tactical generation of revenue,

* General administration and development of the staff.

Requirements:
* Master's Degree or equivalent in Business Administration.
* 5-7 years’ experience in Corporate Management.
* Experience in personnel management, financial management and
fundraising.
* Interest in Heritage Studies would be an asset

Skills:

* Excellent verbal, written, and people skills.
* Highly organized self-starter.

Salary:

* Commensurate with experience

Applications should be delivered to the:

Chairman

Antiquities, Monuments and Muséum Corporation

P.O.Box EE-15082
Shirley Street & Collins Avenue
Nassau Bahamas.

Or Fax (242) 326-2568

and should be received at the office on or before 1 April 2011. Telephone

contacts are:
(242-326-2566)
(242-323-1928)

ROYALS FIDELITY

Morty at Work

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 10 MARCH 2011

Francis to he Brewery chair

Brewery’s Board is Ed Fields,
Kerzner International
(Bahamas) head of public rela-
tions.

He and Mr Francis, who will
effectively act as non-executive
directors and look after the
interests of Bahamian investors
who acquire the collective 25
per cent stake offered in the
IPO, will be joined on the Com-
monwealth Brewery Board
post-offering by LeRoy Archer,
managing director, and three
other representatives of 75 per
cent majority shareholder,
Heineken BV.

While the Board will be at
least six strong post-IPO, its
numbers could increase to sev-
en, as the Government has the
right to appoint one member if
it is called upon to act as ‘stand-
by purchaser’ in the event that
the IPO is not fully subscribed.

Mtr Francis, who played a key
role on BTC’s privatisation
committee as its vice-chairman,
declined to comment when con-
tacted by Tribune Business, but
a source familiar with develop-
ments said: “The discussions he
had with them went very well,
and the feedback he got from a
number of sources close to the
people [Commonwealth] is that
they intend to invite him to join
the Board, and possibly as
chairman as well.”

Michael Anderson, RoyalFi-
delity Merchant Bank & Trust’s
president, who is acting as the
offering’s placement agent, con-
firmed to Tribune Business the
appointments of both Mr Fran-
cis as chairman and Mr Fields
as a director.

“At the end of the offering,
both of those people will be
appointed,” he confirmed,
explaining that Commonwealth
Brewery had decided not to
appoint them beforehand
because then they would have
been required to sign off on
every aspect of the offering
memorandum, something that
needed them to become famil-
iar with every aspect of the
company’s financials and oper-
ations.

Mr Anderson, meanwhile,
confirmed that the Common-
wealth Brewery IPO was set to
launch on March 21, 2011, the
Securities Commission having
given approvals that allowed
the prospectus to be sent to the
printers last week. The remain-
ing issues to be resolved just
require certain documents to
be sent to the capital markets
regulator.

Apart from the Internet, Mr
Anderson said there would be
23 distribution points for the
prospectus via all RoyalFideli-
ty, Fidelity Bank (Bahamas),
Royal Bank and FINCO
branches. In addition, all Com-
monwealth Brewery outlets will
carry smart cards and signage
with information on where
copies can be found.

“We’ve had some great
responses so far,” Mr Ander-
son said of investor interest in
the $62.5 million IPO. “I just
don’t know what it means. I
think it’s getting some atten-
tion. Pre-offering we’ve done
TV, radio and newspapers, and
we’re trying to get out early to
make more people aware.
We’ve done everything we
could.”

“WEG
cz

ITAL MARKETS
BROKERAGE & ADVISORY SERVICES

BISX ALL SHARE INDEX: CLOSE 1,456.81 | CHG 0.35 | %CHG 0.02 | YTD -42.70 | YTD % -2.85

FINDEX: YEAR END 2008 -12.31%

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

S2wk-Low
0.95
8.05
4.40
4y
2.70
1.96
9.44
2.35
5.80
1.80
1.40
5.25.
5.88
PE
4.57
1.00
5.50
9.80
10.00
S2wk-Hi S2wk-Low
99.46
100.00
100.00
100.00
100.00

S2wkovow

1.4076
2.8300
1.5141
2.8522.
13.0484
101.6693
99.4177
1.0000
1.0000
1.0000

Securit_y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas

Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings

Commonwealth Bank ($1)
Consolidated Water BDRs

Doctor's Hospital
Famguard
Finco

FirstCaribbean Bank

Focol (S)

Focol Class B Preference

ICD Utilities
J. S. Johnson

Premier Real Estate

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

Bahamas Note 6.95 (2029)

Fidelity Bank Note 17 (Series A) +

Fidelity Bank Note 22 (Series B) +

Fidelity Bank Note 13 (Series C) +

Fidelity Bank Note 15 (Series D) +

Symbol

Previous Close Today's Close
1.09, 4.505
10.63 10.63
4.50 4.40
0.18 0.18
2.70 2.70
| 2 41.86
10.214 10.21
2.40
6.80
2.16
1.40
ey
5.86
B39
5.40
1.00

Change Daily Vol.
0.00
0.00
-0.10
0.00
0.00
0.00
0.00
0.00
0.00
-0.09
0.00
0.00
0.00
0.00
0.07
0.00
0.00
0.00
0.00

2.40
6.80
2.07
1.40
6.25
5.88
B.38
5.47
1.00

7.40

3.82
10.00

7.40
9.82
10.00

Last Sale
99.46
100,00
100,00

Symbol
BAH29
FBB17
FBB22
PBETS 100.00
FBB15 100.00 le

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

Bid & Ask & Last Paice

Change
0.00.
0.00.
0.00.

Daily Vol.

Bahamas Supermarkets N/A NYA

RND Holdings

ABDAB
RND Holdings

Fund Name
CPAL Bond Fund
CPFAL MSI Preferred Fund
CPFAL Money Market Fund
Royal Fidelity Bahamas G & | Fund
Royal Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
FSG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

0.35 0.40 0.55
CFAL Securities Ltd. (OQver-The-Counter Securities)
30.13 31.59 29.00
0.45 0.55 0.55
BISX Listed Mutual Funds
NAV YTD% Last 12 Months %
1.5179 5.51% 6.90%
2.9486
1.5837
2.7049
13.4392
114.3684
106.5528
1.1465
1.1185
1.1491

1.45%
4.59%
-15.54%
0.22%:
12.49%
7.18%

0.04%
0.61%
-0.56%
0.61%
9.98%
4.75%
5.20%
4.73%
5.35%

5.20%
4.73%
5.35%

Daily Wo.

NAV 3MTH
1.498004
2.918256
1.564030

109.392860
100.779540

ERPS

7%

7%

6.95%

Prime + 1.75%

Prime + 1.75%

EPS $
-2.945
0.001

S$ Div $ Pe
0.123
0.013
0.153

-O.877

0.168
0.016
1.050
0.781
0.488
0.111
0.107
O.357
0.682
0.494
0.452
0.000
0.012
0.859
1.207
Interest Maturity
20 November 2029
19 October 2017
19 October 2022
30 May 2013
29 May 2015
Div & PFE Yield
0.000 N/M
0.000 256.6

4.540
0.002

0.000
0.000

9,03.
261.80:

NAV GMTH
1.475244
2.910084
1.545071

NAV Date
30-Nov-10
28-Feb-11
11-Feb-11
31-Jan-11
31-Jan-11
30-Jun-10
30-Sep-10
31-Dec-10
31-Dec-10
31-Dec-10

107.570619.
105.776543

9.1005 Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 1
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 2
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 3

Royal Fidelity Int'l Fund - Equities Sub Fund

Dated this 22â„¢ day of February, A.D., 2011.

9.7950 4.85% 5.45% 30-Nov-10
10.0000
10.6417 -1.20% 0.50% 30-Nov-10

9.1708

ALLEN, ALLEN & CO.,
Chambers,

Allen House,
Dowdeswell Street,
Nassau, Bahamas.
Attorneys for the
Petitioner

1.27%
8.85%

31-Jan-11
31-Jan-11

10.1266 1.27%
8.4510 0.72%
MARKET TERMS
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity
ASk $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - A company's reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

4.8105

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price trom day to day
Daily Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
$1) - 3-for-1 Stock Split - Effective Date 7/11/2007
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525







THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 9B



INSIGHT

Re-examining our failing education system: Part 2

FROM page 12B

system itself.

He decided the best way
to proceed was to start with
something small, outside the
system, and let his achieve-
ments drive demand for the
model to be replicated — a
strategy which has seen his
project grow from a single
block to a hundred-block
area. It now embraces 10,000
students.

But Dr Glaze feels focus-
ing only on certain schools is
a mistake, as it sends the
wrong message to students.

She said that while the
worst performing schools
undoubtedly need special
attention, no one should feel
left out of a reform process —
not even the best performing
schools.

She noted that her original
mandate covered 4,000 pri-
mary schools — far more than
we have in the Bahamas. "It’s
a big system, and to be able
to organise people in such a
way that they were helping
all the schools was not easy,
but we did it," she said.

Of course, Dr Glaze's per-
spective is very different from
that of lone ranger Geoffrey
Canada. Far from being an
outcast, she was embraced by
the system; hired to trans-
form it from within.

"Before 2002 when things
were really difficult,” she
explained, "the conservative
government of the time and
the teachers did not get
along. There were strikes,
there was a lot of bad feel-
ings, teachers were retiring
in droves."

Then, the new provincial
government under Premier
Dalton McGuinty came to
office riding a promise to
boost school performance by

working with teachers, prin-
cipals and the community.

Dr Glaze said: "The pre-
mier did a number of things,
one of the things he can-
vassed on was to reduce class
sizes, build capacity in all
areas, to focus on low per-
forming schools to see how
we would bring them up.
There is a philosophy of
‘excellence with equity’ —
while we raise the bar for all
students, we have to close the
gap.
"It is very important to
note that there was a strong
support for educators. He
came in with the notion that
he was going to improve per-
formance by supporting prin-
cipals and teachers. He was
going to build capacity. And
it was to my mind a very pos-
itive message that really res-
onated with the teachers."

According to Dr Glaze,
the Bahamas has a like-mind-
ed reformer in Minister of
Education, Desmond Ban-
nister.

She said: "I think Mr Ban-
nister is very committed and
he really wants to do well. I
really like him. The teachers
and principals that I met, I
think they want to do well.
There is a lot of hope and
optimism here."

Because it aims to change
the system from within, her
method would undoubtedly
be supported by our govern-
ment — which doesn't want
things to stay as they are, but
doesn't want to bring the
entire system crashing down
either.

After all, they are the ones
who run it. They employ the
teachers who work in it, who
all have a vote come election
time. They are the ones who
would have to face the
Bahamas Union of Teachers

if fundamental changes to the
profession were to be made
to the detriment of its mem-
bers.

But would it work here?

Has Dr Glaze's experience
in Canada prepared her for
the realities of a place like
the Bahamas? Can we, con-
sidering our deep-rooted
social problems, afford to dis-
pense with a hard-nosed,
scorched earth approach to
dealing with underperform-
ing teachers and parents?

She points out that as a
native Jamaican, she is well
aware of the challenges fac-
ing Caribbean students from
difficult backgrounds. And
believe it or not, she says, she
has encountered many of the
same challenges in Ontario.

"We have in Ontario a lot
of those similar problems —
single parent families and so
on — that I found in other
islands, like Jamaica and Bar-
bados. Its pervasive these
days.

"But if you target those
problem schools, it can be
done. I absolutely believe it
can work in the Bahamas if
the focus is on building
capacity. Good teaching is
what is going to save the day
here.

"There are a lot of good
things happening in the
Bahamas. I am amazed when
I meet with the principals,
the director, the superinten-
dents. You have a great sys-
tem, but it can be better, you
can still reach higher. You
are not starting from zero
here; I find the Bahamian
teachers and principals a very
special group of people, but
we can do better."

But are all Bahamian
teachers really like the hand-
picked group she interacted
with at the Ministry of Edu-

CFA SOCIETY OF THE BAHAMAS
MONTHLY SPEAKER LUNCHEON EVENT

TOPIC:

DATE:

TIME:

SPEAKER

RESERVATIONS:

“TECHNICAL ANALYSIS: THE BASICS”

Wednesday 16" March 2011

12:00 p.m. General Meeting
12:30 p.m. Speaker’s Address

Please arrive promptly!

Cagliari Room

Luciano’s of Nassau, East Bay Street

Barry Sine

Director of Research, Capstone

Members $35
Non-members $45

(Cheques payable to: CFA Society of The

Bahamas)

PRE-REGISTRATION REQUIRED by

Monday 14" March 2011

David Ramirez, CFA

dramirez(@pictet.com / 302 2217

*Prepayment required through one of the

Board Members

cation's seminars? Are our
teachers "highly competent"
in terms of academics? Do
they all have the will, but sim-
ply lack the skill? Are the
present generation of
Bahamian parents eager to

help their children learn, but

are simply lacking the proper

kind of encouragement?
What do you think?

pnunez@tribunemedia.net

¢ Read part one of
"Re-examining our failing
education system’ at:
http://www. tripune242.com/ed
itorial/Insight/03072011_INSI
GHT-Education insight

oe ee a

ZAP

Career Opportunity
Telesales Agent

We at DHL Express Bahamas are seeking to expand aggressively in the
marketplace and are seeking a highly driven, dynamic and results oriented
Telesales Agent to promote and sell DHL services. The ideal candidate will lead
telesales in a cefined berritorn within three Caribbean countries, identifying
business opportunities and assessing customer needs to penerate revenue on new
business

MINIMUM QUALIFICATIONS:

© 2-4 yoars sales su na service industry
Demonstrated ability to infiltrate senior customer levels and represent value
Excellent interpersonal communication & probing skills, high aptitude and
initiative for follow-up.
Customer service orientation.
Strong business, courier and/or supply chain management knowledge.
Analysis and problem solving skills. Knowledge of technology applications in
business.
Demonstrated drive, persistence & initiative.
Implemented measurements & strategies to attain goals.
Proven planning, organizational, ime and paper management skills,
Proficient with technical computer atware skills [Micrasolt)

This is a challenging job opportunity with the world’s leading provider of
transportation services. Our commitment to excellence and team spirit is a
substantial element of our company's culture.

Send your application and resume ne later than Thursday, March 31, 2011 via
email to michele Jouden@@dhLoom referencing Sales Executive Bahamas in the
subject line

Or Go:

HR Department

DHL Express Bahamas
Island Traders Building
East Bay Street

Nassau, Bahamas

VACANCY

Equipment Manager

A leading fast food Franchise is inviting applications from suitably
qualified persons for the position of Equipment Manager.

Equipment Manager must have excellent communication skills
and strong interpersonal skills.

Qualifications and Experience:

A minimum of four years experience as a qualified Equipment
Technician or Equipment Manager, including Knowledge of Reverse
Osmosis Systems is required. Taylor Certification would be a plus.

e Perform preventative and on-going maintenance and
corrective actions on all equipment and systems, inclusive
of HVAC systems, plumbing, refrigeration systems, kitchen
equipment, electrical and POS systems.

Provide emergency service and supply corrective maintenance
on assigned systems and equipment in order to reduce or
eliminate breakdowns, hazards, spoilage of products, or the

This presentation covers the basics — technical analysis history and
theory and basics skills such as chart construction and interpretation.
The program also explains how technical analysis, with its focus on
the market supply and demand forces that determine securities prices,
complements fundamental analysis with its more theoretical toolset
used to ascertain optimal security valuations.

inability to meet customersi requirements.

Manage the required service orders for all maintenance work
performed in each restaurant.

Liaise with Mutliplex supplier to coordinate routine
maintenance, preventative maintenance, and ordering of
replacement parts and equipment on Multiplex system.
Barry M. Sine is the director of research of CapStone Investments.
He utilizes fundamental, quantitative, economic and technical tools
to identify promising investment opportunities. In 2007, he was a #1
ranked analyst in the Wall Street Journal Best on the Street analyst
rankings. Mr. Sine has also held positions with JP Morgan, Prudential
Securities, and Oppenheimer. He is currently a director of the New
York Society of Security Analysts, was a past director of the Market
Technicians Association, and founded and was the first director of the
CMT Institute. Mr. Sine is a lecturer and sits on the advisory board
of the Student Managed Investment Fund at Florida International
University. He holds both the Chartered Market Technician (CMT)
designation for technical analysis and the Chartered Financial
Analyst (CFA) designation for fundamental analysis. He is also the
co-author of the Technical Analysis reading for the CFA Level I exam.
Mr. Sine holds an MBA in finance and international business from
New York Univestity’s Stern School of Business and a BA in finance
and economics from Fairleig Dickinson University.

Maintain an inventory of spare parts, tools, cleaning equipment
and miscellaneous hardware to minimize down time.

Prepare and maintain an equipment warranty file, and an
equipment depreciation file for each restaurant in order to
control repair costs, and “stagger” the cost of replacing
equipment over a period of time.

Maintenance of Exhaust fans and smoke stacks
Daily calibration of equipment.

Report to management any discrepancies observed in work
performed by outside service agents.

Please reply in writing to:

Human Resources Manager
P. O. Box SS-5925
Nassau, The Bahamas





PAGE 10B, MONDAY, MARCH 14, 2011

THE TRIBUNE



Gadhafi drives rebels from

one of last strongholds

BENGHAZI, Libya
Associated Press

MOAMMAR Gadhafi's
forces swept rebels from one
of their final strongholds
with hours of searing waves
of strikes from warships,
tanks and warplanes on Sun-
day but the insurgents
claimed that they moved
back in after nightfall.

One rebel said that after
their initial defeat, opposi-
tion forces destroyed
armored vehicles and cap-
tured dozens of fighters from
Gadhafi's elite Khamis
Brigade in the oil town of
Brega, driving others back
into the town's airport.

Another opposition fighter
told The Associated Press by
telephone that celebrations
had broken out in the nearby
city of Ajdabiya, and cele-
bratory gunfire, honking and
shouting could be heard in
the background.

"We are on our way to
Brega to celebrate with our
brothers there," he said.

The opposition has seen a
series of reversals in its battle
for control of Libya's main
coastal highway, which runs
from Gadhafi's western
stronghold in the capital,
Tripoli, to rebel-held terri-
tory in the east. Gadhafi's
forces seem emboldened by
their string of victories but
their supply lines are increas-
ingly stretched and they
depend on artillery, airstrikes
and naval attacks that are
more difficult to launch at
night.

The rebels have been
pleading for Western pow-
ers to protect them with a
no-fly zone, and on Monday
their leaders meet in Paris
with U.S. Secretary of State
Hilary Rodham Clinton, who
plans to assess their capabil-
ities and intentions.

The Arab League asked
the U.N. Security Council on
Saturday to impose a no-fly

zone. But the U.S. and many
allies have expressed deep
reservations about a tactic
that would require them to
destroy Gadhafi's air defens-
es and possibly shoot down
his planes, and _ they
appeared no closer Sunday
to imposing a no-fly zone.

The poorly equipped and
loosely organized fighters
said throughout the day that
they were fleeing Brega
under heavy attack, losing a
vital source of fuel for their
vehicles and leaving Gad-
hafi's military less than 150
miles from the main opposi-
tion city of Benghazi.

A spokesman for Gad-
hafi's military declared that it
had seized control of the
town and was "dealing with
the situation."

Ajdabiya is the only other
major population center
between Gadhafi's forces
and the rebel headquarters.
If his successes continue, the
Libyan strongman will soon
face the choice of consoli-
dating his control of the
Mediterranean coast or mov-
ing swiftly toward Benghazi
and the prospect of a devas-
tating battle.

"Benghazi doesn't deserve
a full-scale military action,”
army spokesman Milad Hus-
sein told reporters in the cap-
ital, Tripoli. "They are a
group of rats and vermin and
as soon as we go in, they will
raise their hands and surren-
der.”

Gadhafi's navy, army and
air force began pounding
Brega with artillery, rockets
and bombs Sunday morning
and didn't let up all day,
forcing doctors and wounded
people from the town's hos-
pital with a missile strike,
several rebels told The Asso-
ciated Press after fleeing.

"There wasn't any time to
breathe, to do anything,” one
fighter with responsibility for
logistics said by telephone as
he fled Brega for Ajdabiya,

~~ en

about 50 miles (80 kilome-
ters) by road to the east.
Explosions went off in the
background.

Speaking on condition of
anonymity for fear of retali-
ation, he said the opposition
was bracing for conflict in
Ajdabiya by evacuating doc-
tors and the wounded from
there, too.

He said some rebels had
gathered in a seaside village
a few miles east of Brega,
hoping to halt Gadhafi's
forces. He said more fight-
ers from rebel strongholds in
the east were heading to
Ajdabiya to prepare for a
battle there.

The rebels were trying to
secure the southern and east-
ern roads to Ajdabiya and
storing provisions and
weapons there after the loss
of free access to gasoline in
Brega.

"T think they are bombing
heavily because they want to
win time before a no-fly zone
is imposed," he shouted over
the phone.

An opposition leader in
Ajdabiya said the rebels
planned to retake Brega and
were attacking Gadhafi's
forces with guns and road-
side bombs as they moved in
reinforcements from gov-
ernment-held cities in the
west.

The rebels are fighting to
oust Gadhafi from power
after more than 41 years,
inspired by protesters who
toppled authoritarian rulers
in neighboring Tunisia and
Egypt. A week ago they held
the entire eastern half of the
country and were charging
toward the capital, Tripoli.
Then Gadhafi's troops began
reversing those early gains
with superior weaponrym
and firepower from the air.

With much of the fighting
in the east taking place along
a coastal highway bounded
by strips of desert, there are
few places for the rebels to

The National Insurance Board
of the Commonwealth of The Bahamas

Proposal For Independent Auditors

The National Insurance Board (NIB) invites suitably qualified accounting firms to submit a proposal
toserve as independent auditors for the audit of the National Insurance Fund's consolidated financial
statements for the fiscal year ending December 31, 201 1, subject to renewal for an additional two
years, The financial statements are to be completed in April, following the year-end.

The 2009 Annual Report ean be accessed ar wwwnib-hahamas.com

The proposal should include, but not be limited to:

1. General information on the firm and its local and/or international affiliates,

. The qualifications and experience of the principals of the firm, including comments regarding
other professional stalf members’ skills and competence,

a 7 . yh . . . “h = * . . = oa = *
. Information on the firms audit SX PereMce Li financial institutions similar in size or nature to

the NIB.

The approach and time-line that will be adopted for the audit and related services that the firm

can provide the NIB,

. Comments with respect to the firm's independence.

». Estimates of fees and billings.

Proposals should be addressed to:

The Director

THE NATIONAL INSURANCE BOARD

and marked “Proposal to Serve as In

Clifford Darling Complex
Baillou Hill Road
Nassau, Bahamas

endent Auditors”, to arrive at the Director's Office no

later chan 4:00 p.m, on Friday, April 9, 2011. The NIB reserves the right to reject any or all

renders.



aa al f Ze



AN ARMED Libyan rebel chants anti-Gadhafi slogans during a demonstration for students of the facul-
ty of medicine of the University of Qar Younis, in Benghazi, Libya Sunday. Hundreds of students took
the streets protesting what they called "The Libyan leader's war crimes" demanding the international
community to impose a no fly zone over Libya.

take cover, forcing them to
withdraw under fire before
attempting to surge back.
Also Sunday, Gadhafi's
forces appeared to edge clos-
er to Misrata, battling rebel
fighters on the outskirts of
Libya's third-largest city, 125

miles (200 kilometers) south-
east of Tripoli, residents
reported.

One resident, who did not
want his name used because
he fears for his safety, said
streets inside the city were
empty as people took cover

COMMONWEALTH OF THE BAHLAM,

IN THE SUPREME COURT

DEC 23 20n

‘(Common Law and Equity Division

BETWEEN

BAHASLAS DEVELOPMENT BANK

SUMMONS POR LEAVE TO ENTER

MASSA RAH AMAR

SI ;
SUPREME COURT

Nasser Nasser/AP

in their homes and the noise
of tanks, anti-aircraft fire and
machine guns grew ever-
nearer.

He said several tank shells
had struck inside the city,
hitting a mosque and an
apartment building.

Plaisruti ff

ANDI

MICAH ROBERTS

Defendant

TUDGMENT IN DEFAULT OF APPEARANCE

LET ALL PARTIES CONCERNED attend before the Kepistrar in Chambers situate

at the Supreme Court Registry, Ansbacher House formerly the Gaharmaa International Trust

Company (BTCC) Building, Second Floor, Fast Street and Bank Lane, Natsu, The Bahamas
—— a 4 1 r
ie i Hee Ss the { } day ol? Uf ABLE 7A, 2010 wt / / P dy o'clock bn the foc hoon on

the: bearing of an application Pursdant to Cedes 74 Rule 3 of the Kules of the Supra Conard

ISVS on the part of the Plaintiff for uidpoent in this action apainst the Defendant for the

amount claimed in the Statereent of Claim interest and Costs.

TARE NOTICE that a party intending to oppose this application or bo apply for a

shay of emescubon should scad to the eyapessibe party or ibs Alternry be reach them not jess

chat Pax (2)

tise

} dys before the date aboweanentioned, a copy of an Affidavit intending to be

Issued this 13 day of December A.D, 2000

Micah Roberts
Bathey Town

Bimini, The Babwrnas

REGISTRAR

This Summons was taken out bey Halsbury (Chambers, Chambers, Halsbury Commercial
Cente, Village Road, North, PAO. Bow CR-56766, Nassau. The Bahamas, Abtorneys for the

Plaimtall.

Join the Leading Environmental Conservation
Organization in The Bahamas

JOB OPPORTUNITY: PRESERVE ADMINISTRATOR AND
PROGRAMME DIRECTOR
LEON LEVY NATIVE PLANT PRESERVE - ELEUTHERA

Pesition Summary: This position is located im Gerveror's Harbour, Eksthera,
Candidate will be responsible for prowiding dary to day mamagenvent and
supavision of Leon Lewy Native Plant Preserve (LLNPPI, Potential candidates
should have a lowe for the Bahamian environment. A strong interest in the
natural history and cultural history of The Bahamas is a plas.

Primary Responsibilities:

General Preserve management duties

Develop all age school cunricalum‘programs imeluding detailed lesscm
plans, teacher workshops, special sammer programmes and on site

motivaties.

Outreach to local and national educational institutions
Manage on site programs mcliding Docent programme, special events

and iniers programmes.

Serve as a community liaison between Local Goverment, Ministry of
Towra, bocal businesses and other agencies

Qualification and Experience:

MS or BS Degree in Environmental education, Beology or Botany with

a Manu OFS wears” Gagpencice

Demoastried eqpercnce in Program developascm

Teaching certification a plas
Proficiency in MS Office suite,

Strong organicutsonal and time management skills
Excellent oral and written communscatenm skills

To apply: Submit cover letter, resume and three references to the Bahamas

Nateonal Trust, Asins Human Resourar avecm yaa



fry. Be bry | 18th,






MONDAY, MARCH 14, 2011

bk

IGHT

The stories behind the news



Re-examining our failing
eilucation system: Part 2

By PACO NUNEZ
Tribune News Editor

LAST week, Insight dis-
cussed education reformer
Geoffrey Canada's strategy
for rescuing the children of
Central Harlem from failing
schools, and asked whether
his approach could work in
the Bahamas.

After reading the article,
Ministry of Education offi-
cials suggested I meet with Dr
Avis Glaze, another pioneer
of school reform who brought
about huge improvements in
the school system in Ontario,
Canada and who the govern-
ment had brought to Nassau
to present a series of semi-
nars for teachers.

An educator for almost 40
years, Dr Glaze, originally
from Jamaica, started as a
teacher in the Canadian pub-
lic system and moved up the
ranks to become a superin-
tendent and then director of
education. In 2003, she was
selected by the provincial
administration to improve stu-
dent performance across the
length and breadth of Ontario
by setting up a Literacy and
Numeracy Secretariat with a
mandate to “drive achieve-
ment with a sense of
urgency."

Her aim: to close the gap
between the top performers
and those who underachieve.

"Middle class kids may
come to school with a vocab-
ulary of 12,000 words, poor
children come with a vocabu-
lary of 4,000 words. From the
very beginning we see the
gap. The purpose of public
school, if people take it seri-
ously, is to narrow or close
that gap. And we have to
have the strategies and inter-
ventions to do that," she told
Insight.

Her method: hire people
who know about curriculum
formation and effective teach-
ing, organise them into teams
and assign them to schools,
where they would equip prin-
cipals and teachers with the
tools and strategies necessary
to help children learn.

"If you want to bring about
improvement, you have to
focus on a number of things,
two of which are instructional
effectiveness and the quality
of the leadership of the
schools, among other things,”
she told Insight.

Those other things include:
early intervention in the lives
of struggling students, an
intensive focus on reading,
extending "time on task” for
all students, and monitoring
the performance of teachers.

The result of this approach:



“I am particularly concerned with closing
the gap; you cannot say we have an excel-
lent system if you have a long tail of failure.
When we talk about raising the bar for every-
body and closing the gap, it means we're not
leaving any schools out of the strategy.”



"It didn't take long, with the
strong focus with professional
development that we gave, for
us to begin to see results.
When I started, 19 per cent
of our schools were low per-
forming; in four years, it
dropped to five per cent.” The
effort to "close the gap" in
particular was so successful
that they found the children
of immigrants, for whom Eng-
lish was a second language,
were in many cases out per-
forming students from top
schools.

Asked if this method could
have similar results in the
Bahamas, she replied,
"Absolutely."



GEOFFREY CANADA

Dr Glaze's approach
shares a number of similari-
ties with the ethos behind
Geoffrey Canada's Harlem
Children's Zone (HCZ). Both
rely on the conviction that:

© poverty is not destiny

¢ early intervention is vital

© good teachers are the key
to a good education

¢ extended school hours
improve student performance

e established public educa-
tion systems are woefully out-
dated and do not prepare stu-
dents for today's world

e failure cannot be an
option for any child — "We
can’t have any throw-away
kids," Dr Glaze said.

There are also some
important differences. The
first of these, I would describe
as the "hope factor."

Dr Avis Glaze

THE CASE FOR
OPTIMISM

Mr Canada's HCZ depends
on a recognition that schools
often suffer because of the
large number of "bad" teach-
ers on staff who couldn't care
less about their students, but
who are virtually impossible
to get rid of.

For Dr Glaze, however, it's
not that the majority of teach-
ers don't care, it's that they
don't have the necessary tools
to do the job; the system has
let them down, just as it has
the students.

She said that teachers here
told of a similar situation to
that which she found in
Ontario — it is not "the will”
that is lacking, but rather the
skill.

"From my experience,
teachers are people of good
will. Many would have the
will and most of the skill, but
you know, some don't have it
all.

“It's a matter then, of how
we're going to retool them so
they can get the job done,”
she said. Beating up on teach-
ers is certainly not the answer.

"In Ontario we are not like
in some parts of the world,
where they believe in ‘shame
and blame’, and one size fits
all. It’s a very humanistic phi-
losophy, which says if you get
people motivated, if you give
them the skill, they will get
the job done. And it worked
for us. It doesn't work in
every setting, but it worked
for us.

"We have highly compe-
tent teachers in terms of aca-
demics, so we then provided
the interventions, the support,
a very good strategy, we felt
that we could get results and
it did happen.”

This is not to say that cer-
tain "non-negotiables” were
not applied. "Someone need-
ed to say to those low per-
forming schools, "You're not
doing what needs to be done,
the country cannot wait, the
children cannot wait, we are
going to come in and help
you,’ and they have no choice
but to co-operate.”

Once her programme
began to succeed in some
schools, Dr Glaze found there



DR. ALVIS GLAZE addresses educators and stakeholders during a
three-day workshop held recently at the Sheraton Nassau Beach Resort.

was little need to force the
issue.

"They realised we were
going into schools and we
were helping them. We were
not there to put them down,
and I think it increased moti-
vation and people said 'Come

and help us’, because the
environment was non-threat-
ening."

Dr Glaze also regards with
acertain amount of optimism,
the parents of children from
poor backgrounds — a much
maligned demographic in the
Bahamas.

While insisting she is not
making excuses for them, Dr
Glaze said: "Sometimes we
get so upset with parents, but
has anyone taught them par-
enting skills? Some people

J4 mop (EPA highway rating). Available optic
V-6 engine, and right or lett

3 EXECUTIVE |
33, MOTORS LID |.

E-mail: execmotor@bateinet_hs
Parts and service guarandieed

AUTHORISED TOYOTA DEALER

Ag la bte i

apd Bakers of Quabty Acts Sade Preece = ob

just don't know what to do.

"I think people care about
their kids, but they don't have
the skill to raise them.

"I remember once in
Ontario, teachers were say-
ing ‘Oh Avis they don't care.
You have too much confi-
dence. When we have meet-
ings, parents don't come.’

"T took down phone num-
bers and called some of the
parents. One of them told me,
"You have meetings at 7pm, I
clean offices at night and I
can't come.’ So we started to
change our meeting times,
and parents started coming.

"Too often schools say
"You adjust to us’, rather than
really going out and learning
about their community.

"Many parents, especially

if they didn't have very posi-
tive experiences at school, are
afraid of coming there. So we
went out to get them, and
they started coming.”

FINANCIAL REALITIES

Hopeful though she may be
when it comes to teachers and
parents, Dr Glaze delivers a
sobering perspective when it
comes to the question of mon-
ey.

Geoffrey Canada admits
his programme is not cheap
— the Harlem Children's
Zone spends about $5,000 per
student per year. In order to
cover the costs, he augments
the partial funding his schools
get from the US government
by attracting private grants
and donations.

But the Bahamas is not the
United States. Neither is
Canada, and Dr Glaze points
out that it is foolish to create a
project for reform that
depends on resources that will
not be forthcoming.

"People often say 'Give me
more money and I'll improve,
but you know, with dwindling
resources all over the world,
the challenge for educators is
to do more to improve edu-
cation with the resources we
currently have,” she said.

Dr Glaze believes support
and positive reinforcement
are the keys to improving
teaching standards. She dis-
misses the "merit pay"
schemes applied by some
schools, including Mr
Canada's, as too "messy."
Offering financial rewards
based on student performance
is bound to breed hostility and
division, she said, as no two
students are equal and teach-
ers lumped with more chal-
lenging classes will quickly
become bitter and disillu-
sioned.

CAN THE SYSTEM
CHANGE FROM
WITHIN?

Perhaps the biggest differ-
ence between Geoffrey
Canada's system and that of
Dr Glaze hinges on the ques-
tion of whether the problems
facing public education can
be resolved from within.

When he first left college
eager to make his mark on
education in America, Mr
Canada wanted to tackle the
entire system. He soon found
he was banging his head
against a wall of obstruction
erected by unbudgeable union
leaders and the engorged
bureaucracy which runs the

SEE page 9B

GP) TOYOTA moving forward
When a car becomes more.

The Toyota Camry sets a oew global standard tor
safety. A more comfortable cabin oHers superior design
amenities, penerous legroom and a bigper trunk. And
the fuel-efficient 4-cylinder, 2400 cc engine gives up to

ns imclude

Tare dine

pair Hay, 6-41

CAMRY

Audio Mall, Shirley Street (opp. St: Matihow's
an Mom to Fri Sam -
Sal Ram - | noon

: 397-1700

$:hlpm

Abcdse eal Der bbe Kr Bed, ST -280 16



{T\

Pim blowin’ it

TIF
65F

HIGH
LOW

SUNNY AND

PLEASANT

Volume: 107 No.93



injuries after car
comes under fire

By ALISON LOWE
Tribune Staff Reporter
alowe @tribunemedia.net

A 14-YEAR-OLD girl
has died after being shot a
number of times in a rela-
tive's driveway.

The unidentified victim
succumbed to her injuries
in hospital yesterday.

Police said they had yet
to establish a motive for the
killing.

The girl became the 23th
homicide victim for 2011
after the car she was trav-
elling in as a passenger was
fired on by armed men as it
pulled into the driveway of
a relative in Garden Hills
Estates.

According to police, offi-
cers were alerted to the
shooting at Amaryllis

Avenue, Garden Hills
Number One, at around
12.15am on Sunday.

The victim was in a black
2005 Honda Accord. An
unidentified male relative
who was with her escaped
unharmed.

Robbery did not appear
to be the motive, given that
the shooting allegedly
began without any attempt
being made to steal the
vehicle.

Police spokeswoman
Sergeant Chrislyn Skip-
pings said that after being
struck by the bullets, the
girl was transported to hos-
pital in a private vehicle
and died of her injuries
after arrival.

Investigations are ongo-
ing.

RTD

et tese sce

Vittace Roap
SHOPPING CENTER

GEORGE 5T., MADEIRA RD, HARBOUR BAY,
BLUE HILL RD., TOWN CENTER MALL, JFK



NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER

The I

MONDAY, MARCH 14, 2011

Sea SEU
GUA CaM TS

STORY AND PHOTOS ON PAGES 13, 14, 15 AND 16

Teenage gir! shot
dead by gunmen

14-year-old dies of



By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

LOUD explosions
rocked mainland Abaco on
Friday night when a bush
fire spread to the Bahamas
Electricity Corporation's
Marsh Harbour power
plant compound, setting
alight drums filled with
used oil and posing a threat
to the islands’ power sup-
ply.

The power station blaze
came after days of wild
fires raging in pine forests
on the mainland tested the
island's six volunteer fire
services’ resolve, bringing
together the efforts of an
estimated 20 to 30 volun-
teer firefighters and eight
fire trucks from through-
out the island.

"A lot of the firefighters
worked around the clock.


















COMPOUND FIRE: The blaze is tackled on Friday night.

ribune

LATEST NEWS ON WWW.TRIBUNE242.COM



Some of them got only
about two hours sleep in 48
hours," said a resident who
assisted with the effort.

Volunteers were initially
dispatched when a fire
started in the Central Pines
area on Wednesday, threat-
ening a number of homes
in the area and causing the
Central Abaco Primary
School to shut down for a
day due to smoke clouding
the area.

Another separate fire
was believed to have start-
ed in the Great Cistern
area of the island, spread-
ing rapidly, aided by a
strong breeze, until it
reached the BEC power
plant in Marsh Harbour in
the early evening on Fri-
day.

Along the way, one
home received minor struc-

SEE page 10





CROWD FORMS
AFTER WANTED
MAN KILLED
BY POLICE

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

A MOB of about 70 peo-
ple gathered following the
death of a 25-year-old
wanted man who was fatal-
ly shot in a standoff with
police.

Officers tracked down
Ricardo Rolle, believed to
be involved in an armed
robbery and most recently
an attempted rape, in Porgy
Bay, Bimini, on Saturday

SEE page three







UN LN eT

POLICE discovered the
tied-up body of a man with
gunshot injuries on a track
road near Lyford Cay over
the weekend.

The body was found off
Western Road, with both
arms and legs tied, between
the residential community
and Mount Pleasant on Sat-
urday morning.

The victim was wearing a
black T-shirt and grey sweat
pants when he was found by
police shortly after 11.30am.

Up to press time, police
had not yet confirmed the
age, nationality, and resi-
dence of the deceased.

CUTOUT ee CO a

Investigations into the mat-
ter are ongoing.

Last Thursday, police
responding to an anony-
mous tip, discovered the
gunshot-riddled body of a
man in bushes off
Carmichael Road. The vic-
tim was believed to be a
Bahamian citizen in his ear-
ly 20s, and the matter was
classified as a murder.

Anyone with any infor-
mation that might assist
police in their investigations
into all criminal matters
should call 911, 919 or call
Crime Stoppers anony-
mously on 328-TIPS (8477).

_— ——_

WLS



Full Text








PAGE 2, MONDAY, MARCH 14, 2011 THE TRIBUNE



LOCAL NEWS

—— t Pe el iy \
a|)a- 2 rr | aL. ght! . * i
a - ay se _ r inj |
Pe EN ye Se SEMAN

STORY TIME: Hundreds of chil-
dren turned out to the Rotary of
Nassau Sunrise Fair, the fifth annu-
al reading fair where volunteers
took turns to read books to the
children. The event was held on the
grounds of the College of the
Bahamas.

Tim Clarke/Tribune staff

LAWNS, PL
You. Kvow wire Fs real. : SHRUBS TREATMENT

fae] a alt

winw.s brick .oom
WE SEND “EM PACKIN!

DEFERRED FOR 2 MONTHS
(until May 2011)

SUNCARD OR MASTERCARD
TO QUALIFIED APPLICANTS

SPEEDY LOAN APPROVAL

Sa

iD Oe SAN

BANK | “Leader in Auto Financing” www.combankitd.com
THE TRIBUNE





CROWD FORMS
AFTER WANTED
MAN KILLED
BY POLICE

FROM page one |

morning.

Rolle was shot in the
head after he allegedly
pointed a handgun at offi-
cers attempting to arrest
him.

Last night, witnesses
and police officials main-
tained there was no riot
after the wanted man’s
death.

A 58-year-old Biminite,
who witnessed the scene
on Saturday, said: “People
gathered and carried on,
mostly family members
and friends. Maybe 75
people, mostly young chil-
dren between the ages of
14 to 24. But there was no
rioting, nothing like the
one we had here a few
years back. It was just
some family trying to
inquire what was happen-
ing.

“Crowds are gonna
gather once you hear a
shooting in a community.”

Officers found the
wanted man in the bath-
room of a green two-
storey apartment building
off Queen’s Highway.

According to witnesses,
Rolle had sneaked into a
relative’s home to take a
shower.

Sgt Chrislyn Skippings,
police spokeswoman, said:
“On opening the door to
the bathroom, a male was
seen with a firearm. Offi-
cers moved in to arrest the
suspect. It was at this time
the suspect is said to have
trained his weapon on the
officers.”

Officers recovered a .40
Glock handgun with
ammunition.

Yesterday, members of
the northern Bimini com-
munity described locals as
split over the issue.

One resident said: “The
younger set are taking it
the wrong way, and the
older set are taking it
another way - they are sid-
ing more with the police.”

Family members and
friends reacted immedi-
ately to the shooting,
according to police, with
some persons becoming
“loud and boisterous” in
protest of police actions.

Sgt Skippings said:
“Though rowdy, there was
never a riot or any such
indication. Leaders of the
Bimini community,
including church and civic,
responded positively by
calming the agitated fami-
ly members and others.”

Family members con-
tacted by The Tribune
declined to comment on
the shooting.

It was confirmed that
Rolle, along with his
mother and siblings, had
spent most of his life in
Nassau.

Another resident
added: “It really didn’t
shock the community.
People was trying to tell
the family members, if you
know where this boy is, if
you see him, tell him to
take himself in to the
police. They posted up his
wanted pictures all over
town. It wasn’t going to
end well.”

Up to press time, it was
not clear if the team of
officers sent to Bimini on
Saturday, including detec-
tives and a coroner, had
completed their findings.




LOCAL NEWS

set fire to two police boats

THE shooting of Ricar-
do Rolle in Bimini over the
weckend, brings to mind a
riot which took place on
the quaint island in Decem-
ber 2007 when police shot
and killed 43-year-old Ash-
cal Dion Rolle at the Bimi-
ni Breeze nightclub.

Mr Rolle, who was
reported at the time to
have been wanted by police
for a minor traffic violation,
was arrested by two offi-
cers and handcuffed.

According to eyewitness-
es, Mr Rolle was shot to the
head while he was cuffed
and laying on the ground.

Crowd

After reports of the inci-
dent spread throughout the
island, a huge crowd
descended upon the police
compound and started to
destroy the buildings and
vehicles nearby.

Pushing to gain access to
the officer who they
believed responsible for the
shooting, the mob fire-
bombed the police barracks
destroying everything
inside, and set fire to two
police boats which were
moored at the station’s
dock.

Residents then turned
their anger on the police
station and started throw-

FOR 3 IN 1 LAWN SERVICE
Mee ae
ea

a a hy

ing petrol bombs on to the
roof, setting it afire.

When the structure was
surveyed by officers from
New Providence who had
been flown in to provide
assistance, it was discov-
ered that 23 fire bombs had
been hurled at the station.

Riot

Also along the exterior,
air conditioning units and
security bars of the station
had been kicked or pushed
in during the riot which
officers said lasted for
hours.

Rocks, bottles, bricks,
and conch shells were all
scattered throughout the
police compound.

At the time, Police Com-
missioner Reginald Fergu-
son said officers had to fire
“explosives” into the air to
dispel the crowd when Mr
Rolle’s body was being
removed from the local
clinic.

A total of 71 additional
police officers had to be
flown into Bimini, along
with 22 Defence Force offi-
cers to bring the local pop-
ulation until control.






"A high performance
athlete maintains a top
quality diet, High
performance engines
are malatained with
Castrol."

Easter Baskets

'& Crafts

Easter Grass
12 Plastic Eggs
Basket Bags
Easter Baskets

Egg Colouring Kits

$1.50 up
$1.99 up

10 for $7.50

32.50 up _
$1.99 up |

Lots of Easter Toys
Easter Lillies and Calla Lillies
Bunnies and Chicks (Small to Large)

Sema ru Te fnlion

Tyan ie

2007: The police barracks were
firebombed and destroyed.

Minister of National
Security Tommy Turnquest
said the officer responsible
for the shooting would be
placed on “administrative
leave” as they investigate
the matter.

He promised at the time
that whatever actions
needed to be taken, be
they criminal or otherwise,
the public can be assured
that the law will be carried
out.

Constable Carliston Dar-
ling was later charged in Jan-
uary 2008 with Rolle’s death.

S$ Castrol |

mea ate
Distributed By
MAN ta Ut

Meese Se

WR Me earl



ee Pre eR CAP reo eRe MO Mt ate tgtet [met

/) Toners | InkJet Cartridges

ACCESSORIES &
SUP RILIES

AUTHORISED DEALER

£6 MADEIRA STREET, PALMDALE + 242 238 3040 - WW MICROMET BS






MONDAY, MARCH 14, 2011, PAGE 3

Weekend shooting brings to
mind 2007 Bimini incident

Mob firebombed barracks,



Peaturing Comedians

James Sibley and Bryan Cork

House comedian" Naughtey”

“A can't miss show”

APPEARING:

March 15th - March 27th

TUESDAY - SUNDAY + OLOSED MIOMINAYS

Manupe subsyect mamer - 18 pears and older
Doors open &45pme Showtime: 8h
Adimiasion: $00 finer eusicents ($20 value

Leabed between Heck Tara d& Corel Trae

Pome: 242.5905 SHE ext, AD

DIESEL GENERATORS

SUPER SILENT — PERKINS, CUMMINS, ISLEZL:
Automatic Transfer Switch,
1oo/200 galion Fuel tanks, Deep Sea
Controdlers, Stamford Alternators,
Weather Proof Enclosures,
Shipping & Customs Duties Included ....50%%

Deposit, 60 day delivery:

Ieuan Oe

Pu ee
Curmnns Oke
Curmimens Solar
CUN. Perkins 60kw
WK Perkiimes Sack

Digs
Doe
Dat
Deed
|
Coes

SB as
So 12500
S12 850
$149,476.00
S 14.927 s00
$21 8000

ISR TO 4000KW FACTORY DIRECT

NASSAU & FAMILY ISLANDS

Phone 427-3749

www.caribgenerators.com

CARPET, FURNITURE, MARBLE & TILE CARE

The Mow? Tito Resteeaos & CLAN Buea, oa THe ive ti Fara!
NaS OMY PROPEL, CORT Soe Campion a Lie sme Cake Series

+ Camel, Uphotsery, Sona and Marie Claaning & Restoradion

Special

* Peochen Cleaning Systems vamoves Deep £ Hosa Goll,
Bacteria fireasa, Watenneris and Stains tron Capating 4
Funidiure, restoring them to Bke rere al a faction of rplacoman

orl

' Cama Sofas, Loveniets, Chaina, Dining Chairs, Cats Booda

Gesu, Ties. Marta & Bora

Pages, Wacol i Si Carpal imal Spee keel
+ darhla Tis Aestzestion, Potshing, Sealing 4 fare

Verde Gounter-Top Aecdoration 4, Polahing

Auhorised SnomeTech Prodesutiosal Conirecnor
CALL PROCHEM BAHAMAS
PHONE: 323-083 or 323-1594

POU LCL Wane OF PD
PROCHEM SVS TEM (an

OWL WE CAN 00 IT RMARTS

Hae ACA cee 2 are RECT Oe * eine (rang



* pep cord coe

Calleria Cinemas

Whee it — art ee
Ex OFFEROR CHRESS AT bie

MOVFES MLETES MCPS
FED ADO 900
THE ADAPSTMEMT BUREAU













1
D418

10



wna. ben hei 2 boenen |. caer



CF
A TEADLY
PAGE 4, MONDAY, MARCH 14, 2011

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352

WEBSITE
www.tribune242.com — updated daily at 2pm

Why Sir Kendal refused to lead a demo

SEVERAL years ago the late Sir Kendal
Isaacs, then leader of the FNM, resisted the
urging of his members to lead a peaceful
protest outside the House of Assembly. We
do not recall the occasion, but it was just
after the conclusion of the Commission of
Inquiry into drug smuggling when there was
much political unrest in the country.

Sir Kendal, not only a reasonable, but a
responsible man, said he would never take
the responsibility of leading a demonstra-
tion. Why? Because, no one could control a
crowd of people, especially if they should
turn into a frenzied mob. He did not want to
shoulder the inevitable tragic consequences
of damage a violent mob could do. So there
was no demonstration.

Speaking to party members at their Gam-
bier headquarters last Tuesday, PLP Leader
Perry Christie told supporters that come the
2012 election the PLP was committed to
“play it straight.” The party’s campaign will
be “aggressive” and “spirited”, he promised,
but would be conducted with “respect for,
and adherence, to the elementary values of
integrity, decency and dignity that are so
sorely lacking in our country today.”

Mr Christie said his party was going “to
set the pace and set the tone because we
are convinced that political morality, human
decency and civility require us to do so.”

Of course we saw none of this high-mind-
edness displayed when a crowd descended
on Rawson Square on February 23, as police
struggled to hold the barricades and shouts
went up to “secure the House.”

It was meant to be a peaceful union
demonstration to save BTC from the clutch-
es of C&W, but unionists were sidelined in a
swirl of PLP supporters dressed in yellow
“no turning back” shirts and a large contin-
gent of PLP youth.

One policeman later commented that the
first hand he saw touch a metal barricade to
force it down was that of a man with a mur-
der charge pending. Rumours were rife,
resulting in National Security Minister Tom-
my Turnquest eventually confirming that,
according to police reports, several violent
criminals were also among the crowd
protesting outside Parliament that day.

Mr Christie was quick to deny the
rumours that many protesters were paid by
the PLP to demonstrate. He said he cer-
tainly “paid no one.” He also condemned Mr
Turnquest for using “confidential police
information” about criminal elements being
a part of what was meant to be a “peaceful”
demonstration, but turned out to be any-

©

thing but peaceful. Of course, on such an
occasion, Fox Hill MP Fred Mitchell had to
get in his own snide remark about paid
demonstrators. “Aside from that being
untrue, so what if they were paid?" he asked,
referring to the practice during the PLP's
early protests in the 1960s.

"To mobilise people takes resources: food,
buses, and communication, emergency care
to name a few of the possible expenses.

"So let's not get distracted by that fact.”

We don’t intend to get distracted by that
fact, nor were the police to be distracted.
Upset by another remark made in another
context by Mr Mitchell about police reports,
Police Staff Association president Dwight
Smith stepped in to confirm on Friday that
criminally-minded people were overheard
to say that they had been paid to partici-
pate in the February 23 protest. And, he
added, it was undeniable that there were
people in the crowd with potential criminal
motives. Mr Smith urged politicians to stop
policising issues. Police already had a difficult
crime problem to deal with, they had no
need for politicians to add to their responsi-
bilities.

The leader of the Opposition’s office is
located in the Baypar! building, as are sev-
eral other offices, including the Ministry of
Tourism. Reports from eyewitnesses and
eavesdroppers tell the following tale:

After the court gave its ruling on the Eliz-
abeth Estate election case, a group of per-
sons lined the stairs leading the door of the
Opposition’s office. Among them was a
“gentleman” who is extremely well known to
the police. The persons on the stairs made it
known to everyone within earshot that they
were there for their “f--- money!” Someone
opened the Opposition door and gave them
some money. They were not satisfied. “Lis-
ten,” said their spokesman, “we did what
you asked us to do, now we want our mon-
ey!” They were shouting the names of two
MPs. They demanded to see them. Mr
Christie was not one of them.

About a week ago Wednesday, after the
recent demonstration, a group of boys were
again outside the same office, asking for a
certain PLP politician — again not Mr
Christie. This time they were demanding
their money for the part they had played in
the Bay Street demonstration.

Persons who were there described a scene
that suggested that these persons needed
money to reimburse them for more than Mr
Mitchell’s necessary bus ride to get to the site
of the action.

COMMONWEALTH BANK

DIVIDEND NOTICE

TO ALL SHAR EHOLDERS

The Board of Directors of Commonwealth Bank Limited has
Declared a Quarterly Dividend for Common, “A”, “B”, “C’, “D’,
“EB”, “F”, “G”, “H” and “I” Preference Shares, to all shareholders

of record at March 21, 2011, as follows:-

Common

“A” Preference
“B” Preference
“C” Preference
“D” Preference
“E” Preference
“F” Preference
“G” Preference
“H” Preference
“’? Preference

6c per share
7% per
7% pe rf annum payable quarterly
7% pe r annum payable quarterly
7% per annum payable quarterly

7% per annum payable quarterly

7% per annum payable quarterly

7% pe r annum payable quarterly
7% pe r annum payable quarterly
7% pe r annum payable quarterly

annum payable quarterly

The payment will be made on March 31, 2011 through
Bahamas Central Securities Depository, the Registrar & Transfer
Agent, in the usual manner.

Charlene A. Bosfield
Corporate Secretary

Leader In Personal Banking Services



Leaders should
not see poverty
and bills as an
excuse for crime

EDITOR, The Tribune.

It was good to hear the
Leader of the Opposition state
that his Party would be taking
the high road as the election
2012 campaigning begins in
earnest.

I was proud that he used the
opportunity afforded him to do
that. Apparently his deputy
leader did not get the memo.

This morning’s front page of
The Nassau Guardian has Mr
Davis suggesting “that the fail-
ure of the Free National Move-
ment administration to create
sufficient jobs to deal with the
country’s unemployment prob-
lem led to the untimely deaths
of Bahamians.”

What is implied that there
are Bahamians who commit
crimes to pay their bills, and
while that is a reality for per-
sons in many countries, it
makes a big difference in the

LETTERS

letters@tribunemedia .net



overall psyche of a nation when
those who lead use their oppor-
tunities of speaking to take the
high road.

There are persons in this
country who see poverty and
bills and excuse for doing a lot
of bad stuff, but those who lead
should not be numbered among
them. The bills are real, but this
reality should never be used by
anyone to plant seeds that will
give well-meaning individuals
the thought of “working some-
thing” if things are getting
rough, financially.

We forget that before 1967, it
was okay to live at a particular
level.

Many persons living at that
level found a way to send their

children to college, children
who became Doctors, Lawyers,
Accountants and Prime Minis-
ters.

What has happened to us
that give those who lead the
temerity, to speak to us so
offensively?

Most of what has been
gained by Bahamians has come
from hard work, and many sit-
uations can be remedied by
stepping back and scheduling
our priorities instead of priori-
tizing our schedule; doing what
is best for ourselves and our
country.

If we are to succeed, those
who lead are going to have to
put their best foot forward,
instead of putting their foot “in
it”, just to make a point.

EDWARD
HUTCHESON
Nassau,

March 10, 2011.

There is no discrimination or special privilege
practised hy National Museum of The Bahamas

EDITOR, The Tribune.

In a letter to the Minister of Tourism and
Aviation published in your February 8th issue,
Mr Rodney Moncur asserted that the Antiquities
Monuments and Museum Corporation practised
discrimination against him and provided special
privileges for some users of the facilities at Fort

Charlotte.

These accusations are categorically denied and
by way of background, the following overview of
the Corporation’s policy, of which Mr Moncur
should be well aware, is provided.

Some time ago, we received advice from a
conservation consultant to the effect that the
exposure of the Fort to emissions from vehicles

When the fee structure was introduced at Fort
Charlotte in 2005, the decision was made to have

only the prepaid tours (conducted by the
Bahamas Taxi Cab Union, Leisure Tours and
Majestic Tours) drive through, drop off passen-
gers and collect them from the parking lot.

Mr Moncur should be able to appreciate that
the management and control of this historic site
rely on the cooperation and support of visitors
who benefit from the cultural experience pro-

vided by the guided tours that are available.

He cannot be expected to drive through the
Fort at will and I repeat: there is no discrimina-
tion or special privilege executed by the Nation-
al Museum of The Bahamas.

had to be decreased in order to preserve the

structure.

As a consequence it was agreed that vehicular
traffic within the environs would be reduced.

Time to stop these speeding vehicles

EDITOR, The Tribune.

Well this takes the cake, on Thursday, March 10, I was travel-
ling north on Mackey Street in the area of K.F.C when to my sur-
prise there was a jitney travelling south on the sidewalk which is on
the west side of Mackey Street, To me this is a new one, the bus was

no.1.

This morning I read a letter to the editor from Mr Peter Dupuch
concerning the police vehicles that travel the Eastern Road on a

CHAIRMAN
Nassau,
March 7, 2011.

ua
TETAS ACS

Hite dU) gti)
Na



daily basis. I too am extremely concerned that someone will soon

be killed by (especially the bus) these vehicles. Can someone

EDITOR, The Tribune.

please explain why these vehicles must travel at breakneck speeds

to take prisoners back to Fox Hill prison.

When I am in my truck my windows are rolled up and, the radio
on (as most people do). You can’t hear these vehicles until they are
right on you and, sometimes traffic is so close that you can’t move
to the side so quickly, and that big bus goes through swerving
and rocking, could they not travel that area at 10 mph and arrive
safely, and give other drivers time to move to the side.

It is time the Minister in charge acts promptly to correct this jit-
ney situation; and the Commissioner acts to correct these speeding
vehicles that will eventually kill someone if action is not taken
promptly, and then sorry will not be good enough.

BILLY SANDS
Nassau,
March 12, 2011.

Here are some of the founders of
The Black Point
Development Association.

We were grateful to serve in that
capacity over the few years
we have served.



It seems not only do some
of our journalists try desper-
ately to change history now
politicians are trying.

I recall vividly that the
Bahamas enjoyed an excep-
tionally positive relationship
with Taiwan even under the
1992 FNM Government
however along came the
opportunity for the potential
massive investment in
Grand Bahama by Hutchin-
son-Whampao and rational-
ly the FNM Government
decided unconditionally nor
requested to recognise the
single China position and we
recognised The People’s
Republic of China.

After the 2002 election
when the FNM was defeated
the PLP continued the recip-
rocal relations with Beijing
in fact the PLP obtained the
massive gift of a $40 million
stadium which is close to
completion.

For anyone to try to
rewrite history which is well
documented is a travesty.
Baha Mar proposal started
in 2005.

The Bahamas had recog-
nised the People’s Republic
of China for 10-years + or as
we all say today more than a
decade!

All in the same week we
watched the drivel Gaddafi
spewed out at his never end-
ing Press conferences the
most ludicrous statement
was that his people love
him!

The Prime Minister
should have said concerning
Baha Mar that the Izmerl-
lians could not have devel-
oped the project without the
heavy investment of the Chi-
nese — now that’s fact !

ABRAHAM MOSS
Nassau,
March 5, 2011.
THE TRIBUNE



LOCAL NEWS

MONDAY, MARCH 14, 2011, PAGE 5



FNM defends former
senator’s appointment
to Lands and Surveys
Department post

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

THE Free National Move-
ment yesterday defended the
appointment of former FNM
Senator Johnley Ferguson to a
consultancy position at the
Department of Lands and Sur-
veys against suggestions from a
third party that the appointment
represents "an abuse of the pub-
lic's finances and trust”.

The National Development
Party (NDP) on Friday issued a
statement questioning Mr Fer-
guson's appointment to the con-
sultancy post. It suggested the
consultancy was a "phantom
position for a political opera-
tive”.

Mr Ferguson retired from the
Senate effective February 14,
leaving his post as vice president
of the Senate. He was replaced
by former Elizabeth constituen-
cy candidate, Dr Duane Sands.

The NDP's statement ques-
tioned "what qualifies" Mr Fer-
guson to be eligible to advise the
Department, whether the post
was "created for him", what
"unmet needs" existed to be
served by the consultancy and
how much Mr Ferguson is to be
paid.

"There are many questions
that this appointment begs,” said
the NDP.

It called on the government
to release Mr Ferguson's con-
tract for public scrutiny, along
with his salary. The party sug-
gested it is "irresponsible for the
Prime Minister and his FNM
government who find it easy to
fire ZNS and BTC workers to
create phantom positions for
their political operatives".

In response, both Minister of
State for Lands and Local Gov-
ernment, Byran Woodside, and
FNM Chairman Carl Bethel said
Mr Ferguson's background as a
dedicated public servant with a
history of serving in the Family
Islands makes him a clear pick
for the advising post.

Both denied suggestions the
appointment was in any way
improper or not in the public's
interest.

Mr Woodside said the NDP
“should have done their home-
work" before making such a
claim.



FORMER FNM SENATOR Johnley
Ferguson was appointed to a con-
sultancy position at the Depart-
ment of Lands and Surveys.

"He is a former Family Island
administrator as well a consum-
mate public servant so the fit is
quite a good one," said the Min-
ister.

Mr Woodside, who is attend-
ing the Commonwealth Local
Government Forum in the UK,
said: “Mr Ferguson’s contract is
for two years and will see him
advising on land issues, with par-
ticular attention being given to
the application process and how
best to speed up the application
process for Bahamians applying
for crown land, and also serving
as the adviser to myself with
respect to the introduction of
local government in New Provi-
dence.”

The introduction of local gov-
ernment in New Providence was
a manifesto commitment of the
FNM in the 2007 election but
Prime Minister Hubert Ingra-
ham has since stated that it will
not happen in this term due to
other economic challenges that
arose.

Yesterday, Mr Woodside said
that although the introduction
of local government "won't hap-
pen this year, we still have to
plan for it”.

Speaking to Mr Ferguson's
ability to successfully advise the

Department of Lands and Sur-
veys, Mr Bethel added: "Any-
one who takes even a cursory
look at Johnley Ferguson's
resume would see he is an expe-
rienced educator and former
family island administrator who
has served throughout length
and breadth of Family Island for
decades.”

He suggested that one of the
"primary areas in which Mr Fer-
guson's expertise will be utilised"
during his consultancy will be in
the implementation of the pro-
visions of the Land Adjudica-
tion Bill 2010, which has been
tabled in Parliament but not yet
passed. The Bill seeks to empow-
er Bahamians who may have
claims to generational land
through facilitating their access
to legal title.

Asked if Mr Ferguson's
appointment indicates that the
Department of Lands and Sur-
veys did not have the necessary
expertise and human resources
to undertake this work in-house,
Mr Bethel said the implementa-
tion of the provisions of the law
would require "new focus" that
the Department would not have
been able to provide without
neglecting other already estab-
lished duties.

"To say you have to drop
everything and focus on this,
what does that do for the func-
tions they are performing
already?

“Sometimes when any gov-
ernment is moving to imple-
ment a new or revolutionary ini-
tiative you have to give it new
focus.”

As to whether the govern-
ment would be willing to publi-
cise Mr Ferguson's contract and
salary, Mr Bethel said a review
of the budget would reveal his
remuneration but the govern-
ment would not seek to "put
people's business on public dis-
play on a political whim for
someone trying to score cheap
political points”.

ie
ea tT:

Bee tal
PHONE: 322-2157



JUST WEST OF CITY MARKET, TONIQUE DARLING HIGHWAY

ae

SHH HI!
Don't Tell Anyone,

for Government Workers

‘Bluebirds *HondaAccord «Honda Civic
"Honda Fit «Honda Mini Vans «Honda Stream
PCE Oy COG a ral ee

eta

Our

Of Pre-Owned Honda Accords,
Civics and Nissans have arrived.

MONTHLY

PAYMENTS
STARTING AS LOW AS

$280

TEL: (242) 341-0449 + (242) 341-2249 * FAX: (242) 361-1136

Visit our Website: www.autohl.com



PUSHIN DA ENVELOP
By Jamaal Rolle

sneake

Rosetta St.



IZES 7-10

JOXX

Ph:325-3336
PAGE 6, MONDAY, MARCH 14, 2011

THE TRIBUNE



LOCAL NEWS

MP: URCA’s decision on BTC
‘not worth paper it’s written on

FOX Hill MP Fred Mitchell
has criticised URCA’s decision
to allow 51 per cent of BTC to
be sold to Cable and Wireless,
stating the decision was not
worth the paper it was written
on.

“The decision of URCA
reads like a legal treatise,” Mr
Mitchell said.

“It is no doubt designed in
that way to show that all mat-
ters have been fully and judi-
cially considered by them in
order to satisfy the legal
requirements for fairness. The
difficulty is that the decision is a
sheep in wolves’ clothing. It is
all dressed up in legal clothes
but is redolent of unfairness. It
does not pass the smell test.

“In other words, no amount
of legalisms or neologisms can
deny the fact that the decision
makers in this matter are too
proximate to Cable and Wire-
less and ca not to the reason-
able man dispassionately, fairly
or judicially make a decision
on any matter with regard to
Cable and Wireless.

Mitchell speaks out over decision
on sale to Cable and Wireless

“The atmosphere at URCA
is redolent of Cable and Wire-
less. Indeed, the whole legisla-
tive structure and communica-
tions policy and the fact of how
Cable and Wireless was invited
into this process smells to high
heaven. In that regard the deci-
sion is fatally flawed,” he said.

Mr Mitchell said this deci-
sion reminds him of the logic
and legal framework put up to
support the apartheid regime
in South Africa. The authori-
ties there he said, used to arrest
Africans for violating those
laws, despite the fact that those
laws were “immoral”.

“You can not build a moral
structure on an immoral
premise so breaking those laws
was acceptable. It is the same
here with URCA. The history
of the Communications Act,
the URCA Act is such that
those who designed it and now

run it are former employees or
consultants of Cable and Wire-
less. Who would in those cir-
cumstances believe that the
decision made by URCA which
involves Cable and Wireless in
this regard to a fair and rational
one?

“URCA rejected the asser-
tion that it was bound not to
be party to an unconstitutional
result. It took note of a case
from Dominica at the Privy
Council saying that the Privy
Council did not finally pro-
nounce upon the matter.
Unfortunately, they did not
bother to ask for additional
details. If they had, they would
have seen how they missed the
mark. The matter of this deci-
sion was made with such inde-
cent haste that they did not
bother to be informed properly
about the law. No public body
should be party to an unconsti-

tutional result.

“The public ought to care-
fully review whether or not
URCA in making this decision
was in fact motivated by con-
forming to the government's
announced timetable for this
deal as opposed to their leg-
islative responsibility. In my
earlier statement, I referred to
a comment made by the Prime
Minister who indicated that he
would cause the government to
write URCA to tell them that
they must conform to the gov-
ernment’s policy on hiring for-
eigners. I said then if the Prime
Minister can give a directive to
URCA on that, on what else
can he give a directive?

“It is therefore very much a
matter for URCA to have
referred this matter to all the
parties to address the issues
before making a decision. They
ought to have ordered an in
depth investigation at the very
least pursuant to the Commu-
nications Act, Section 78. One
needs only point out to URCA
that in citing the case from

THE COLLEGE OF THE BAHAMAS

Visit our website at www.cob.edu.bs

School of Chemistry, Environmental and Life Sciences

Small Island Sustainability Programme

presents

a Town Hall Meeting with

Mr. Brian Kakuk

Director of The Bahamas Caves Research Foundation (BCRF) on

the topic: “Blue Holes in The Bahamas:

Exploration, Research and Conservation of a Unique
Bahamian Resource”

Date: Tuesday, March 15th, 2011

Time: 6:00 p.m.

Location: The College of The Bahamas
Performing Arts Centre, Oakes Field

For more information contact: 302-4400









Sti

Ne.

)- YES, WE'RE OPENI

The same friendly, helpful staff are here to assist you
from 8am - 4:30pm Monday-Friday

NOW OPEN ON SATURDAYS FROM 8AM - 12 NOON

We’re now 2 blocks east of the old Betty K Offices

in the House of Mosko building, Bay & Victoria Streets

MIAMI OFFICE

Now docking at Arawak Cay

WEEKLY ----2 SAILINGS - MIAMI TO NASSAU

leaves Sundays, arrives Mondays
leaves Wednesdays, arrives Thursdays

WEEKLY ----1 SAILING - NASSAU TO MARSH HARBOUR

leaves Mondays, arrives Tuesdays

t 305-635-4650 f 305-635-4651

3701 NW South River Drive (opp old Dollar Car Rental)
OPEN 7 DAYS/WK Mon - Sat 8am - 7pm, Sundays 12 noon - 7pm

In Nassau - 1 322-2142 © 322-2875 ¢ 322-2813 f 322-6089

Nassau Freight Warehouse 322-8926 www. bettyk.com





Dominica and dismissing it out
of hand, they ought to have
asked themselves the question
which follows on a counter fac-
tual basis. If they had found
that the Privy Council pro-
nounced definitively on the
matter, and knowing that it was
unconstitutional, would they
then still have come to the same
result? The answer must clear-
ly be no. It follows then that
the decision that URCA is not
competent to determine this
point is wrong in law,” he said.
In addition, Mr Mitchell said
there is also an effect on com-
petition. In his opinion, the Fox
Hill MP said there are several
ways to deal with this matter.
“One is the Court of Law by
judicial review. The other is by
an appeal to the Utilities



FOX HILL MP Fred Mitchell spoke
out against URCA’s decision

Appeal Tribunal (UAT), a spe-
cial tribunal set up under the
Communications Act to deal
with appeals. The other is an
appeal to the Court of Public
Opinion and fourthly, a com-
bination of all of the above. The
matter is being studied by me
and the lawyers and party
members who joined me in my
objection with a view to taking
the matter further,” he said.

KEMP’S FUNERAL HOME LIMITED

22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas

MR. GEORGE

S. MOSES

of Eastern Road,
Nassau, The Bahamas,
died at his residence on
Thursday, 10th March,
2011.

Mr. Moses was the former proprietor of K.
S. Moses and Sons, Bay Street, Nassau.

In lieu of flowers, donations may be made
to Sacred Heart Roman Catholic Church,
P.O. Box SS-5913, Nassau In Memory of

Mr. George S. Moses.

Funeral arrangements will be announced at

a later date.

Arrangements by Kemp’s Funeral Home
Limited, 22 Palmdale Avenue, Nassau, The
Bahamas. Telephone - 393-2022.



| PRODUCTION MANAGER |

A commercial bakery requires the services
of a Production Manager.

THE SUCCESSFUL CANDIDATE:

Must be an experienced manager with
good people skills

Must be computer literate and have had
inventory control experience

Must have experience in ordering and
monitoring raw materials

Previous bakery production/managerial
experience would be an asset

Please send resume to: bakeryhr@aol.com



PRIME OFFICE SPACE

Approximately 2,200 square feet of second
floor space 1s available in newly constructed
building at the corner of Marlborough and

Cumberland Streets.

Two (2) on-site car spaces included.

Ideal _ location

for

offshore bank,

trust company, law or accounting firm, or

other professions.

Contact Owner at 362-5787


THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 7



FNM describes Perry Christie as ‘the Greatest Pretender’

PLP Leader Perry Christie
was described yesterday by
the FNM as being “the
Greatest Pretender” in a part
of great pretenders.

In their latest commentary,
the FNM said their party
leader Hubert Ingraham is
aptly referenced at party ral-
lies with the popular Tina
Turner song, “Simply the
Best” as it embodies his
“extraordinary record of pub-
lic service and accomplish-
ments”.

In comparison however,
the FNM said Mr Christie’s
theme music at the PLP’s
Golden Gates rally should
have been “The Great Pre-
tender”.

“Even as the Government
rapidly mobilised and
responded with jobs, bene-
fits, training and counseling
for those laid off at the Our
Lucaya Hotel, the Leader of
the Opposition quickly
popped in and out of Grand
Bahama to take advantage of
the anxiety and loss of those
who had just lost their jobs.

“Great Pretender Perry
Christie pretended to care
about the workers and their
families. But he did not find
the time to actually go and



PLP LEADER PERRY CHRISTIE
was criticised by the FNM

meet with them. He was too
busy shedding his own croco-
dile tears instead of drying
the tears of those recently
unemployed.

“The same man who pre-
tended to care about the for-
mer employees of Our
Lucaya also pretended to
care about the 1,200 workers
who were laid off from the
Royal Oasis in 2004. Despite
his talk back then, he and his

government did absolutely
nothing to respond to one of
the worst lay-offs ever in
Grand Bahama.

“He now says another PLP
government would give “spe-
cial attention” to Grand
Bahama. Where was that
“special attention” when they
were last in office? Grand
Bahamians know what the
Opposition means by “spe-
cial attention”, having been
abandoned by the PLP over
and over again including in
the rebuilding efforts after
various hurricanes,” the par-
ty said.

The FNM went on to add
that Mr Christie also aban-
doned the Sea Hauler victims
and senior citizens by failing
to initiate a prescription drug
benefit.

“He and his party pretend
to care but usually fail to act.
This is the party and the
leader who sat silently and
passively as one of their
major supporters tore down a
place of worship and family
homes. This is compassion
PLP style.

“Mr Christie is now
promising the same hope and
help he failed to provide dur-
ing five disastrous years in

office. Bahamians know bet-
ter than to trust such an emp-
ty promise from the Great
Pretender who could not get
around to spending the
$100,000 grant for MPs on his
constituents in Farm Road.

“During the rally in Gold-
en Gates, Mr Christie pre-
tended that he was above the
attack and smear politics of
Bradley Roberts whom he
anointed as Chairman of the
PLP. But as much as he may
try and pretend, he failed to
rebuke his operatives for par-
ticipating in an out-of-control
demonstration with known
violent criminals.

“He sits by while one of his
senior colleagues attacks the
integrity of the Special Intel-
ligence Branch. He remains
silent when his Deputy false-
ly and shamefully blames the
FNM for suicides. He is pre-
siding over a party of extrem-
ists.

“Mr Christie, the Great
Pretender, also keeps pre-
tending to be a great democ-
rat, yet he is willing to toler-
ate and excuse behaviour
bordering on undemocratic
including a demonstration
which threatened the House
of Assembly. The most

Call for Mitchell apology over SIB comments



THE FREE National Move-
ment (FNM) called on PLP MP
Fred Mitchell to apologise for
his attack on the integrity of
the Special Intelligence Branch
of the Royal Bahamas Police
Force.

In a press statement, the
FNM said that after his attack,
Mr Mitchell has now sought to
deny his comments after the
Police Staff Association’s chair-
man “rightly” criticised his
comments.

“On March 8, Mr Mitchell
said of the SIB: ‘In any event, I
have a view which I espoused as
minister and I still hold and that
is that SIB reports are often
based on gossip and trivia and
are elevated in the minds of the
bureaucracy to too high a level.’

“Two days later on March

10, after justifiable criticism
from the Staff Association and
others, Mr Mitchell sought to
twist his own words and to deny
the clear meaning of his earlier
comments. His statement read
in part: ‘I at first declined to
comment but upon more
mature consideration what I
wish to say is that any and all of
the comments made by me at
any time are directed at politi-
cians and policies and not at
public servants. The comments
are about public policy. That
should be crystal clear from the
content and context of the
remarks.’

“What is crystal clear,” the
FNM said, “is that Mr Mitchell
said that the reports themselves
are often based on gossip and
trivia, directly impugning the

ae ree

integrity of those who produce
the reports. Further, he
launched an attack on the wider
bureaucracy and not singularly
political leaders and public pol-
Icy.

“His prior statement refutes
his later attempt to walk back
his earlier reckless comments.
By attempting to deny his own
words, Mr Mitchell is now sug-
gesting that the Police Staff
Association and others simply
misunderstood what he was
saying. This is an additional
insult added to the injury of his
earlier rash statement,” the par-
ty noted.

In his second statement, the
FNM highlighted that the Fox
Hill MP only responded after
“mature consideration”.

“The mature thing to have

ahi

done was not to launch an
attack on the Police in the first
place. Further, after launching
such an attack, he should have
had enough maturity to apolo-
gise to the Royal Bahamas
Police Force,” the party said.

When contacted for com-
ment yesterday, Mr Mitchell
said he will be answering the
Police Staff Association “and
the FNM together” on Tues-
day with a “full and frank state-
ment”.

ral
TESTING

CEL UL:
evi aI Le



service f0 a higher level!

extreme forces in the PLP are
now in control of the Oppo-
sition.

“The Great Pretender has
stacked the National Con-
vention, his party’s highest
body, with hundreds of Stal-
wart Councilors personally
loyal to him. This means that
the PLP’s elected branch rep-
resentatives are always out-
numbered and are sub-

servient to Mr Christie’s
needs.

“Today, even after promis-
ing yet another remake of the
PLP, Mr Christie seems set
to run the same scandal-rid-
den and incompetent people
in the next election. One can’t
pretend to be a rose when
one continues to surround
oneself with poison weed and
bad apples,” the FNM said.

The Coming of the Kingdow

Luke 17:20-37

Now when He was asked by the Pharisees when
the kingdom of God would come, He answered
them and said, “The kingdom of God does not
come with observation;nor will they say, ‘See
herel’ or ‘See there!’[d] For indeed, the king-
dom of God is within you.” Then He said to the
disciples, “The days will come when you will
desire to see one of the days of the Son of Man,
and you will not see it. And they will say to you,
‘Look here!’ or ‘Look there!’[e] Do not go after
them or follow them. For as the lightning that
flashes out of one part under heaven shines to
the other part under heaven, so also the Son of
Man will be in His day. But first He must suffer
many things and be rejected by this genera-
tion. And as it was in the days of Noah, so it will
be also in the days of the Son of Man: They ate,
they drank, they married wives, they were giv-
en in marriage, until the day that Noah entered
the ark, and the flood came and destroyed
them all. Likewise as it was also in the days
of Lot: They ate, they drank, they bought, they
sold, they planted, they built; but on the day
that Lot went out of Sodom it rained fire and
brimstone from heaven and destroyed them
all.Even so will it be in the day when the Son
of Man is revealed. “In that day, he who is on
the housetop, and his goods are in the house,
let him not come down to take them away. And
likewise the one who is in the field, let him not
turn back. Remember Lot’s wife.Whoever seeks
to save his life will lose it, and whoever loses
his life will preserve it.| tell you, in that night
there will be two men in one bed: the one will
be taken and the other will be left. Two women
will be grinding together: the one will be taken
and the other left. Two men will be in the field:
the one will be taken and the other left.”[fJAnd
they answered and said to Him, “Where, Lord?”
So He said to them, “Wherever the body is,
there the eagles will be gathered together.”



pd

ig Se
res bs



Lickety Split Ice Cream and Deli staff from all three locations (RND Plaza West, Carmichael Rd. and Village Rd.) recently completed
aS-month comprehensive training program, culminating ina gala Awards, Certificate presentation dinner at the British Colonial Hotel.

Managing Director, lewellyn Burrows set this achievement as a goal for the company with the intention of bringing the standard of service to
a higher level. In consideration of the economic downtum, he felt that the key to success was to invest in human resources. If every customer is happy
and satisfied with the services and products they receive, Lickety Split can continue to look forward to a steady stream of repeat customers.

Over the years the company has recognized that training is an ongoing process and has invested substantially in training programs,
tailored to meet the specific needs of the “the fun, leisure food business.”, For this recent training excersize, Lickety Split contracted
the services of veteran Human Resources Professional and Expert Trainer Agatha Marcelle.

At the Awards/Certificate presentation dinner each Manager received a Management Special Competency Certification (M.5.C.C.), every Supervisor
received a Supervisory Special Competency Certification (5.5.0.0) and each Line Employee received a Line Special Competency Certification (L-S.C.C.).

Awards handed during the evening included Employee of the Year, presented to Samantha Adderley, Supervisor of the Year, presented to Vanessa Bowe,

G07) ADVE.

Manager of the Year, presented to Robertha Forbes, Eager Beaver Award (Most Improved), presented to Vanessa Bowe, Lickety Split Amity Award,

presented to Kendra Poitier and Lickety Split Customer Service Award, presented to Monica Williams.
PAGE 8, MONDAY, MARCH 14, 2011 THE TRIBUNE

LOCAL NEWS

Royal Bahamas Police
Force National Crime

WAREHOUSE SALE

Dates: Thursday and Friday, March 17” and 18°, 2011
Place: Security Storage Limited, Nassau Street
Opposite Western Cemetery Parking Lot

Time: 10:00am - 4:00pm

Office Furnitures and Machines
Computers and Computer Equipments
Filing Cabinets

Stationeries

Limited amount of Home Furnitures
Other Supplies and Miscellaneous

ALL ITEMS WILL BE SOLD AS IS.

THE GENERAL PUBLIC
IS INVITED



CREDIT SUISSE

Credit Suisse AG, Nassau Branch

is presently considering applications for a
Senior Globus System Developer

The position is open to candidates with the following
minimum requirements:

Qualifications:

-At least Five (8) years experience in installation, configuration and
troubleshooting in a banking environment

-Superior knowledge of GLOBUS/T24 Banking Application in both
support and development roles

-Bachelor of Science degree in Computer Science or equivalent
-Knowledge of AIX 5.1 — 5.3, UNIVERSE/JBASE, PL/SQL
-Experience in working with Globus/T 24 related migration

or implementation projects.

Personal Qualities:

-Excellent organizational, interpersonal and communication skills
-Good technical and problem solving skills and experience
-Ability to work under pressure and with minimum supervision

-Enthusiasm, a positive attitude and willingness to work flexible hours

as overtime
-Previous experience of working in a production support role in
maintaining Globus/T 24 system is a plus.

Other Duties:

-Answer Helpdesk requests (provide support & troubleshoot)
-Provide jbase & GLOBUS training to IT Staff

-Ensure compliance to IT guidelines / directives

-Ensure that “Business Contingency Planning” requirements are followed

-Other duties & projects assigned by the Manager of Department

Benefits provided include:
- Competitive salary and performance bonus
- Pension Plan
- Health and Life Insurance
Ongoing internal and external career development/training program

APPLICATIONS MUST BE IN WRITING. Persons not meeting the

minimum requirements need not apply.

Applications should be submitted to:
Human Resources Department
P.O. Box N-4928
Nassau, Bahamas

DEADLINE: March 18, 2011



Prevention Office: Home
invasion survival ape

By CONSTABLE 3011
MAKELLE PINDER

THERE is no right or
wrong way to protect you
and your family during a
home invasion. However
when your home security is
broken, the objective is to
escape alive.

Hence, the best defence
against a home invasion is
prevention, including family
education and planning.
One family meeting to dis-
cuss general rules and pro-
cedures may save a life in
years to come.

Therefore the police sug-
gest that the following pre-
cautions are taken into con-
sideration and utilised:

Parents should teach chil-
dren how to answer or not
answer the phone or a
knock on the door in the
scenarios of parents being
home or away.

Don’t forget to teach kids
the basics, such as always
locking the doors and win-
dows before leaving home
and anyone could be at the
door.

The weakest home securi-
ty link is failing to lock doors
or windows and opening the
door without question at the
sound of a knock or ring of
the door bell.

Teach your children how
to dial 9-1-1 at a young age
while explaining the appro-
priate situation to dial.

THE OPTIONS OF
RESPONSE:

e Escaping immediately,
saving yourself - This option

Course Description:



decreases the amount of
time the burglars have to
complete their job while
having their privacy leaked.
Some refuse to look like a
coward by leaving their fam-
ily in danger, however, rad-
ical actions may pay off lat-
er if you are able to imme-
diately get help.

¢ Fighting and screaming
— Screaming and yelling
works well if there are
neighbors close by or in a
public area. There is no pur-
pose in fighting if you are
physically incapable. If fight-
ing, make a strong, forceful
hit to the nose, eyes, throat
or groin area. This will give
a small window of time to
escape and call for help

¢Compliance with bur-
glars — This allows more
time to think of an effective
plan of action while creat-



ing an escape opportunity
once the burglars let their
guard down.

¢ Pulling a weapon on an
armed intruder -— This
option should be your last
resort, most times house
hold weapons are not
loaded for child safety, so in
the rare occasion you have
access to a loaded fire arm,
be aware the burglar is just
as desperate and often will
not hold back.

Remember that No mat-
ter what option you choose,
make sure you stay calm and
put thought into your
actions because it will affect
everyone surrounding you.

Should you need more
information and before your
home security is broken and
invaded, please pay close
attention to the information
provided.

Or if you have informa-
tion pertaining to any crime,
please do not hesitate to
contact the police at ‘919’ or
Crime Stoppers at 328-tips
(New Providence), 1-300-
8476 (Family Island)

journer-

ouglass (ollege

“Bringing Opportunity to the Community”

A Master Class Series

Beginning March 2011 - 2% Day Master Class in
INSTRUCTION OF READING

ei by Stal then Ph.D.

Reading is the active process of constructing meaning from written teed in relation fo the student's experience
and knowledge. The key to successtul literacy instruction is tha teacher, and the course inkroduces tha
teacher to fe techniques and principles of teaching Reading. The focus is on equipping the Reading teacher
fo use a vanaty of taeching approaches, strategies and matenals ina balanced Reading program. ftenhences
fhe teacher's abiily to undershand Students as lamers and lo view reading and writing a crilical components

of the dewelopmertal process:

Some Topics to Be Covered:
* Theory and principles of reading
* Strategies that develop phonological and
phonemic awareness tor English speaking

students

Tha use of various spelling pattems

Tectiniques for assisting siudenis to develop
word recognition skill through the use
of sight words, context clues, structural
analysis, and dictionary study

Techniques for teaching high frequency
funcional words, phonetically ireguiar

Participants will receive:
* Course matevials
* Cerificate of Completion
* 3 Graduale-eve credits (applicable towards
the Master's degree in Reading)

Who Should Attend:
* Locel and regional stakeholders presently in
the K-12 school systam

* Individuals aspiring to become Reading

teachers

words, and conbent specific: works

+ Effective teaching strategies tor distinguishing
babveen dierent consonant and vowel

combinations

* Private Reading instructorstutors

COURSE FEES:
Early Bird Teele Po 250.00

(valid io March 7th, 201

Techniques, equipment and materials for

aoprodniale application of word skills and

alr
+» Offer Topical Issues

eres aile a ap

Fy meio] 08) 8

International/Other: $1,500.00 :

NOWw!!

Class Dates Are: Friday 1th, March (€-10pm), Saturday 19th March (Sam-tpm), Sunday 20th March (Sam-fpm)

dnd Floor, Gold Circe House | Tel.:
aE
Gi E A Sarno

Pre on Ere et
Peer rns. re)
es Pre ean beta bett shear |


THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 9



CARICOM Chairman should
act to end airlines stand-off

insight

WORLD VIEW

By SIR RONALD
SANDERS

(The writer is a consultant
and former Caribbean
diplomat)

TRAVELLERS in the
Caribbean appear set for a
turbulent time because of the
apparent stand-off between
the Trinidad and Tobago
owned, Caribbean Airlines
Ltd (CAL) and the smaller
carrier, LIAT, whose share-
holders are the governments
of Antigua and Barbuda,
Barbados and St Vincent and
the Grenadines.

There is no question that,
for many of the countries of
the smaller Caribbean coun-
tries, LIAT is an essential
service. It has also become
important for traffic to
Guyana of North American
and European tourists and
nationals visiting from
abroad who can get as far as
Barbados via bigger airlines.

There is also no question
that — however brave a face
is put on it —- LIAT’s ability
to continue to fly without
subsidies from its sharehold-
er governments is in grave
doubt. And, the possibility
of its shareholder govern-
ments putting money into
LIAT is pretty remote since
all three of them are
strapped for cash. Borrow-
ing on commercial terms is
also not a viable option in
today’s market, particularly
if such borrowing is based on
a need to compete against
CAL on certain Caribbean
routes. CAL has made it
clear that it intends to fly
some of the routes now oper-
ated by LIAT.

In the past, LIAT relied
heavily on loans and subsi-
dies from shareholder gov-
ernments, but over the last
four years it has paid its own
way with no government
having to give it a hand-out.
Indeed, LIAT’s landing fees
to Caribbean governments
have been a source of rev-
enues to the airports in all
countries that its serves. In
Barbados, for instance,
LIAT operates approxi-
mately 30 landings a day,
making it the largest single
source of landing fees. The
same is true for Antigua and
Barbuda, and for most of its
eastern Caribbean destina-
tions.

But the situation is now
changing. LIAT has had to
increase its fares because of
increased costs, not least
among them the cost of avi-
ation fuel. The airline has an
aging fleet in need of renew-
al. Experts put the capital
cost of renewal of the fleet at
approximately US$300 mil-
lion. LIATs home market,
the Eastern Caribbean, is
itself undergoing a period of
economic recession with only
limited possibilities for short
term economic growth.

Any new competition
from CAL will worsen
LIAT’s financial problems
and probably push it over
the edge, particularly as
CAL gets a fuel subsidy from
the government of Trinidad
and Tobago while LIAT
pays market price. CAL’s
fuel subsidy — erroneously
described as a “fuel hedge”
is quite significant. Accord-
ing to Trinidad and
Tobago’s’ Finance Minister
Winston Dookeran, CAL’s
fuel subsidy claims to the
Government for the years
2008, 2009 and 2010 amount-
ed to $43.69 million

In this regard, Prime Min-
ister Ralph Gonsalves of St
Vincent and the Grenadines
is perfectly correct when he
asserts the absence of a level
playing field in any competi-
tion between LIAT and
CAL.

Gonsalves has also spo-
ken of LIAT introducing a
mix of aircraft and flying
routes to Miami and New

York. This is more a con-
summation devoutly to be
wished than a prospect
grounded in any reality.
LIAT would not only have
to compete on these routes
with CAL which benefits
from a fuel subsidy, it would
also compete with American
Airlines which several gov-
ernments in the region are
known to give subsidies in
order to guarantee their
flights. Since no Caribbean
government has shown itself
willing to provide a subsidy
to LIAT to guarantee its
intra-Caribbean flights, they
are most unlikely to make
any contribution toward
LIAT?’s wider explorations
to New York and Miami.

Regional airlines experts
point out that CAL has noth-
ing to gain from a LIAT
acquisition, similar to the
acquisition of the Jamaica
airline, Air Jamaica. CAL
has route rights under the
CARICOM Multi-lateral Air
Services Agreement, it has
the necessary airplanes (with
the acquisition of French
ATRs), and it has a fuel sub-
sidy. What is more, it has the
support of countries like
Grenada, St Lucia and St
Kitts who are getting a ser-
vice without paying for it,
and who are not attracted to
helping pay for LIAT. Fur-
ther, CAL already flies to
Barbados and Antigua and
Barbuda. This probably
reflects the thinking of
CAL’s Board of Directors —
why pay for something that
might turn out to be an alba-
tross, if they could put it out
of business and secure a
place of dominance in the
Caribbean skies?

Given the assets of CAL,
particularly its fuel subsidy, it
could put LIAT out of busi-
ness unless LIAT secures
financing from somewhere
to allow it to meet its cur-
rent financial obligations,
upgrade its fleet and offer
passengers a competitive
price for its service.

Should that happen, CAL
would enjoy a virtual
monopoly. At that point, it is
doubtful that the Trinidad
and Tobago government
would continue the fuel sub-
sidy at its present level, if at
all. Passengers would be
expected to pay the com-
mercial costs of the airline’s
service. The end result for
the passengers — tourists and
Caribbean nationals alike —
will be high costs for intra-
regional travel. But, it could
also mean a decision by the
dominant airline to abandon
non-profitable services and
routes. Should the latter
decision be taken, some gov-
ernments would be forced to
give the airline money to



RSVP T 362 4910 or email speakerseries@lyfordcayfoundation.org



SIR RONALD SANDERS

guarantee continued service.
This is a practice many of
them now apply to foreign
carriers such as American
Airlines but they refuse to
do for regional carriers.

Clearly what is needed in
this troubling situation is a
high level consultative
process involving the princi-
pals of both CAL and LIAT
with the aim of developing
an action plan, including an
integrated business plan, for
the two carriers.

The issue is how to get the
two carriers to talk at the
level of their Boards to work
out such a plan that could be
put to their shareholder gov-
ernments. One approach
would be for the present
Chairman of CARICOM,
Grenada’s Prime Minister
Tillman Thomas, to appoint
a team of say three people,
headed by a seasoned diplo-
mat and including persons
familiar with the issues of
Caribbean airlines, to bring
representatives of the air-
lines to the table and facili-
tate the development of the
plan.

What is certain is that the
current stand-off benefits no
one, least Caribbean trav-
ellers.

Responses and previous

commentaries at:
www.sironaldsanders.com

Laster

Week 2077

PREMIER TRAVEL i

lL=

FREWIER TRAPEL AND PRINCESS
CRUISES INTRODUCE
EASTER WEEK 20F7
SPECIAL RATES!

Tel: 328-02 64 328-0257

Fax: 325-6878

Call owr canst departoent for more deta

Water!

Paes oe peer peanon, coils occupancy, muebjbect re

nreletd i) of the dine af booting!

Pon charpes DACLUIRD. Goran Ae er diol per per

Be POPUMOAELE Rares

The Mercedes-Benz C-Class

Your most enjoyable drive ever.

The Mercedes-Benz C-Class is a pleasure
to behold offering a new interpretation of
driving pleasure. Its taut lines lend it an
air 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

to external 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
to suit your taste. As you will see, the

C-Class is the perfect embodiment

of the Mercedes-Benz philosophy.

OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY
COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES
RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY.

Tyreflex Star Motors



Wulff Road, P. 0. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 * Fax 242.323.4667

Ship
Cerisbean Princess
Carisbean Princess
Carisbaan Princess

Lana Priscees.

Rsby Pings

Crown Priscegs

Crovan Princess.

Siar Princess

Emeraic] Princess

Caribbean Princess

Raby Parte

You are cordially invited to attend

Decarts

24APRI

Olay

TTAPRAt

2aAP Ht

24APRAt

JORPRAT

NEAPRAT

A presentation by Dr. David T. Conley

PROFESSOR OF EDUCATIONAL POLICY AND LEADERSHIP

Nights
“rT

oor

Inside

Outside
i)

144

Newry

Saq Juan, 8. Thomas, Dominica, Granada, Sonare,
Jiauba, at sea. Ban Juan
San Juan, §. Thomas, Aastigua, 2 days at saa, Arye
Piel Deocheyard (Bermmuria|, alec, Hew ‘Fork
San Juan, 5. Thomas, Toriola, Antiqua, Barkados, 3
Luce af be, Ban Jean
Port Lancleaciale, a axa
Heras) stand of Co
Caius, Feet Lowdenigie
Fort Laumleadale, Princess Coys, ised, 31. Wheres,
a shee Grind Turk, at saa, For Landarciele

oi La ed Cayren, isan of Hasta

1 (Weaien) at saa Frit

(Grand Cayrrae, intend of Rowan

peirel (deseo) a sea. Princesa

Cans, Fert Laude

onl Lauciesdale, at sea. Grand Gayman, island of Asatan
‘Hondures), island of Cowan (Iéleion), at saa Princess
Cae, Fed ania

ror Lasucleorkabes, 2 cya. of sees, Ardiqua, 5 Luca,

Tatedes, 9 Kits, SL Thorns, of sea, Paces Caps

"orl Laucleotbale,

Pde Viwie, 7 cheers al ges, Geared Turk, Sa Jue, 1
Figyal hewal Dioieyaed (Berrie), of

aa Mew Yi

"onl Lauciesdal, Princess Coys, alsa, 51. Masnes,

1 Themes, Grand] Tyr, at saa, For Lanseria



FOUNDER, CENTER FOR EDUCATIONAL POLICY RESEARCH, UNIVERSITY OF OREGON

treet ici (dl

NEXT STEPS FOR CREATING

A COLLEGE AND CAREER READY CULTURE BS
The rapidly changing world offers tremendous opportunities for The Bahamas é
to grow and thrive as a nation. Every Bahamian has a role in charting the path, :
including teachers, business leaders, community members, parents and students. %
This session will discuss the next steps in developing a culture of college

and career readiness in the home, school, and community.

Thursday, March 24th, 2011
7:00 pm - 9:00 pm
INDEPENDENCE BALLROOM B

SHERATON NASSAU BEACH RESORT, WEST BAY STREET

oe ATION, be



i SS
Founpat’©

4

Admission is free of charge and there will be a question and answer session

COLLEGE CONNECTIONS THE SPEAKER SERIES
PAGE 10, MONDAY, MARCH 14, 2011

THE TRIBUNE



LOCAL NEWS



Blaze at BEC power
plant compound

ey athare)

Santander

Santander Bank & Trustis accepting applications from suitably qualified
Bahamians for the following position:

COMPLIANCE ANALYST

Bachelor's Degree

Minimum 3 years experience in similar position

Knowledge of Bahamian Company and IBC Laws

Good knowledge of Bahamian financial legislation

In depth knowledge of compliance policies and procedures
Computer literate

Excellent organizational skills

Excellent communications skills

Must be highly motivated and a team player

Fluency in Spanish essential

Salary and other benefits commensurate with qualifications and
experience.

Applications in writing with details of education and experience should be
faxed or mailed by March 18, 2011 to:

Human Resources Manager
Santander Bank & Trust Ltd.
P. 0. Box N 1682

Fax: 4502 7955

Nassau, Bahamas

HPN) SPP j 4 5

oh CANA rl om Bee

Presents

The New Providence
Raheem V ie ime y ale

Under the theme

“GOD GIVES AND HIS CREATION GIVES*

fe) aH
e"The God who keeps on Giving and
the Heirs who respond generously”
Pee PATA Ceyoiire maar ysis Uae derol-WiGMCLA La]
»’M to the Third Power”

Preachers:
The Rev'd Fr. Mark Fox

BBM te Gt Tle etre ae

March 13th- 15th, 2011
7:00 p.m
St. John’s College Auditorium
Stapledon Gardens,
New Providence
Deiter dalle



FROM page one

tural damage but no one was injured, accord-
ing to preliminary reports.

The BEC power plant blaze came on the
same day that BEC announced it had offi-
cially taken over responsibility for the gen-
eration of electricity at the $70.8 million Wil-
son City power plant in Abaco from contrac-
tor MAN Diesel.

The power plant is capable of generating 48
megawatts of power and was built to address
the unreliability of power generation in the
Abaco islands, which has faltered due to the
intermittent failure of generation equipment
at the Marsh Harbour power plant.

However, the new Wilson City plant has yet
to be brought on stream on a full time basis as
its ability to fully service power demand in the
area remains hampered by the need for an
upgraded transmission line linking it to Marsh
Harbour.

The contract for the installation of that
cable has been put out to tender and BEC has
said it hopes the line will be in place in time
for Wilson City to serve peak summer power
demand in Abaco.

However, in the event it is not completed in
time, BEC Chairman Michael Moss and Envi-
ronment Minister Earl Deveaux have stated
that BEC will rely on continued use of gen-
erators at the Marsh Harbour power plant
to supplement the power supplied and ensure
demand is fully met.

BEC Chairman Michael Moss said yester-
day that this plan remains intact as the old
BEC plant suffered "no major damage per
se" as a result of the fire, with the oil drums in
one portion of the compound having caught
alight but the generation equipment being
spared.

He confirmed that immediately after the
fire a bulldozer entered the area and "extend-



ed the firebreaker" around the plant, clearing
down any remaining bush that could carry a
wildfire towards the plant.

"There should be a firebreaker," he said,
adding that he could not speak to the ade-
quacy of the protective measures prior to the
fire.

Yesterday, sources on the island suggested
more could have been done before the blaze
reached the plant to ensure the compound
did not catch alight, including clearing down
the bush surrounding the facility in advance.
One source questioned what systems BEC
had in place to deploy in the event of a petro-
leum fire at the plant, adding that BEC itself
appeared to have played no part in addressing
the fire.

A further hindrance to the firefighting
effort came from a limited water supply from
which to fill the trucks which were attending
the fire, The Tribune understands. Requests
allegedly put to the Water and Sewerage Cor-
poration on Thursday to increase the water
pressure in the area so that fire trucks could
be refilled with water to fight the fires on a
more prompt basis were not responded to
until the following day, when the water also
cut off entirely for a period of time, said a
source involved with the efforts to tackle the
fires.

This slowed down the firefighters response
to the blaze.

"They said the lack of water was because
we were using it to fight the fires, but the
capacity of that plant is 750,000 gallons. Each
one of those trucks can hold no more than
3,000 gallons, so I doubt that,” said a source,
who did not wish to be identified.

The Water and Sewerage Corporation
could not be reached for comment up to press
time.

The cause of the fires was not clear yes-
terday. Attempts to reach police fire officials
in Marsh Harbour were not successful.

PERFORMANCE,
Quality

sive

Geoltrey Jones offers the fine line of General

Electric appliances designed fo suit every

need with performance quality and style. Our

GEOFFREY

competitive prices and full service department,

make us your ultimate appliance centre.

imagination at work

JONES & CO

www.geofreyjonesandco.com | 322-2188/9


PAGE 12, MONDAY, MARCH 14, 2011

THE TRIBUNE



LOCAL NEWS



Real Estate: Reaching the finish line | US CONTRACTOR CONVICTED
IN CUBA: 15-YEAR SENTENCE

By MIKE LIGHTBOURN

MY LAST COLUMN got
you started on your purchase
by determining how much
you could afford, getting loan
pre-approval, finding the right
BREA agent to help you find
a suitable home. Now what?

Your BREA agent will
show how your preferred
home(s) compares with other
properties on the market.
He/she will advise you if there
are any special issues you
should know about involving
your choice(s).

Now you should be armed
to make your offer, which

should include a contingency
regarding an inspection and
financing, as well as any spe-
cial requests or repairs, a clos-
ing date and the amount of
the deposit. There may be
some negotiation, but once
both parties have agreed on
the terms, you'll sign a sales
agreement or letter of intent.
Make sure your lawyer sees
it. The vendor’s insurance
company needs to be advised
of your interest in the prop-
erty once you have signed the
contract.

You should have pre-
approval from your bank for
financing. If you are pre-

Seeking full-time
KONI Ne Nero.
to work in our

boutiques in Nassau
and Paradise Island.

Must have 5+ years experience in luxu-
ry fashion apparel and/or high-end jewel-

ry & watches.

Seeking candidates that have chosen
retail as their career and would be willing

to work long term.

Must have proven sales record and excel-
lent management skills.

Position requires strong background in
management, inventory, scheduling, prod-
uct training, human resources, and loss

prevention duties.

Experience in Retail Pro a plus. Must be
fluent in English. Knowledge of Spanish or
another foreign language a plus.

Candidate must live in Nassau or be will-
ing to relocate at own expense.

Please send a detailed
resume and a cover letter to
careers@hillsidebahamas.com,
explaining your interest in the
position, availability, & salary
requirements. Please also
include a photo if available.

carga & courier provider tald Tribune newspaper recently, something that results them in paying mare import cost

approved, you'll complete the
loan process, order an
appraisal and inspections.
You will want to do a final
“walk through” before clos-
ing.

Once all the legalities are
finalised you can complete the
transaction. You will sign all
the final documents and
become a homeowner. For
most persons this will be the
largest transaction of their
lives and we do not want any
slip ups!

(Mike Lightbourn is presi-
dent of Coldwell Banker
Lightbourn Realty).

Share your news

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

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

Job Vacancy

A leading business in the Bahamas seeks to fill the
position of Entry Level Accounting Clerk.
All applicants should possess the following:

* Accounting/bookkeeping experience.

* Experience in handling Accounts receivable will
be a plus.

* The ability to assist with various accounting
transactions.

* Strong computer skills and experience in
accounting software programs.

* Working knowledge of Microsoft office programs

especially Microsoft Excel.

* The ability to learn quickly.

* An outgoing, friendly personality.

* Excellent communication and team work skills.

* Strong organizational and analytical skills with
the ability to work independently.

* The ability to manage multiple projects and
responsibilities simultancously.

Interested persons should submit their resumes

via email to:

accountsclerk@live.com

All resumes must be received by

18" March 2011.





















HAVANA
Associated Press

A CUBAN court on Satur-
day found U.S. contractor
Alan Gross guilty of crimes
against the state and sentenced
him to 15 years in prison, a
verdict that brought a swift and
strongly worded condemna-
tion from Washington.

The court said prosecutors
had proved that Gross, 61, was
working on a "subversive"
program paid for by the Unit-
ed States that aimed to bring
down Cuba's revolutionary
system. Prosecutors had
sought a 20-year jail term.

Gloria Berbena, a spokes-
woman for the U.S. diplomat-
ic mission on the island,
termed the decision
"appalling" and called on
Cuba to release Gross imme-
diately.

"We reject and deplore this
ruling,” she told The Associ-
ated Press. "It is appalling that
the Cuban government seeks
to criminalize what most of the
world deems normal, in this
case access to information and
technology."

Tommy Vietor, a
spokesman for the White
House's National Security
Council, said the ruling "adds
another injustice to Alan
Gross’ ordeal.”

"He has already spent too
many days in detention and
should not spend one more,"
he said. "We urge the imme-
diate release of Mr. Gross so
that he can return home to his
wife and family."

Gross was arrested in
December 2009 while on a
USAID-backed democracy-
building project.

The U.S. government and
Gross's family say he was
working to improve Internet
access for the island's Jewish
community, did nothing
wrong, and should be released.

Cuban officials have called
him a mercenary and main-
tained his motives were more
nefarious.

The court said the program
that Gross worked on — part
of a $20 million Washington-
effort to support democracy
on the island — showed that
the U.S. government contin-
ues to seek the overthrow of a
Cuban government ruled since
1959 by brothers Fidel and
Raul Castro.

The Havana court found the
evidence presented at the trial
"demonstrated the participa-
tion of the North American
contractor in a subversive pro-
ject of the U.S. government
that aimed to destroy the Rev-
olution through the use of
communications systems out

Firms losing, collectively, ‘millions’ on U.S. freight ‘prepaying’

(Reprint-Jan. 12, 2011-Nei! Hartnell, Business Editor)

Bahamian companies are collectively lasing “millions of dollars” per year through inflated transportation cost they do not have to pay, a Bahamas —based express

of the control of authorities,”
according to a statement read
out on the afternoon news.

It said that during testimony
in the two-day trial, Gross
"recognized having been used
and manipulated" by his com-
pany — Bethesda, Maryland-
based Development Alterna-
tives, Inc. — as well as by
USAID and the State Depart-
ment. It said he has the right to
appeal the sentence to the
Supreme People's Tribunal,
Cuba's equivalent of the U.S.
Supreme Court.

Since the trial began, Cuba
has stepped up its denuncia-
tion of such programs. Last
week, state television aired a
program detailing the history
of the USAID effort, with offi-
cials saying it showed Wash-
ington was waging a cyberwar.
Cuban media have promised
to air a second installment on
Monday, possibly including
footage of Gross's testimony
at the trial, which was closed to
the foreign press.

Development Alternatives
was awarded a multimillion-
dollar contract for the program
in which Gross was involved,
and Gross received more than
a half million dollars through
his company, despite the fact
he spoke little Spanish and had
no history of working in Cuba.
Gross traveled to the island
several times over a short peri-
od on a tourist visa, apparent-
ly raising Cuban suspicions.

Development Alternatives
President James Boomgard
said Saturday the company
was "profoundly disappoint-
ed" in the verdict, and called
on the government to free
Gross.

The USAID programs have
been criticized repeatedly in
congressional reports as being
wasteful and ineffective, and
funding was held up briefly in
2010 over concerns following
Gross’ arrest. The money has
begun flowing again, though
US. officials say Development
Alternatives is no longer part
of the program.

While the verdict was not
unexpected, it is sure to have a
chilling impact on relations.
US. officials have said repeat-
edly that no rapprochement is
possible while Gross remains
jailed.

Now that Gross has been
convicted, his backers will try
to get him released through a
court action or executive par-
don, possibly on humanitari-
an grounds.

His wife Judy says Gross has
lost more than 90 pounds since
his arrest, and that his 26-year-
old daughter and 88-year-old
mother are both suffering from
cancer.

The former U.S, transportation executive who

works for the Bahamian company said that Bahamians are vulnerable to a little known, transactional practice called ‘prepaid and Add’ which was employed by
some, ta many, US-based shipping companies, Explaining how it worked, Mr, Johns said these U.S. shippers directed by Bahamian companies’ would instruct their
U.S. suppliers to ‘prepay’ the freight cost to get their already-ordered products from, say Illinois, to Florida, These shipping companies would use their own freight
program to truck the goods from Illinois but, in some cases, the shipper would place the higher, freight tariff rate an the bill for the Bahanian company, This Mr
Johns said, allowed the shipping company to potentially pocket the difference between their freight pricing program and the ‘added’ higher freight rate, and the
Bahamas based company, or finm was none the wiser of how he's paying more in cost. It would only see a single cost on the invoice, Although, that invoice amount
had transportation cost, freight and shipping inclusive, the company had no way of working aut the former costs, The cost of transportation charges would be
embedded in the invoice. Or, the CIF shipment would show the transportation charge but, at the ‘added’, higher, ground freight rate. As a result, Mr. Johns alleged
that many Bahamian companies were paying mare than they should on their import shipments once the freight is cleared in the Bahamas, paying inflated domestic
charges. Mr. Johns said that there are other cleaver versions amployad by some U.S. companies employing transportation cost as a ‘profit center’ besides ‘prapaid
& ADD’, The situation was definitely raising the cost of living for hard pressed Bahamians and residents, Mr. Johns said, U.S, Shippers do not separate that cost
on the invoice in some ta most cases, and you're often at the mercy of what the company is charging you versus what the rate of transportation should be, if
Bahamians had diract access to the transportation company with their own program things would be different. Mr. Johns said that to tackle the problem we are
Planning a seminar on March, 17th at the British Colonial Hilton, to educate business about this ‘transactional process’ of ‘prepay & add’, and assist them in setting
up their own U.S-based freight program so they can get their goods into Florida at a proper rate versus an inflated value cost, Mr. Johns said. VWwe vill additionally
show how to improve on their consolidation, warehousing, and ocean & air charges. Persons can contact Mr, Johns at 324-8524 27, hbii206@qmail.com,

christaigofa-girls.com, krissyi@gofa-girls.com

How much are you LOSING with pre-pay and add’

*What is pre-pay and add?

"How much is this process

costing my company?

Each year Pahamian merchants are losing hundreds of thousands of

dollars by allowing their US suppliers to ‘pre-pay’

freight to the Bahamas

Learn more about this US industry secret of “Pre-pay and add”

and add their ground

ana

find soalutuions that will help your business save money and have
greater control on your international cargo movement.

US FREIGHT TRANSPORTATION SEkMInAR SPONSORED Ew:

. 2:30 aa — 4:00 pn

lirne
Lecation:

Complimentary Continental breaktiast
Deote: Thursday K4arch tr" 2011

British Colonial Hilton _

and Lunch

sHow can l avoid paying too
much and reduce my overall
eost of goods?

"How can ! gain greater

control over my freight
movement?

Coverniors Ballroom
MNMoassau, Boahoanes
$35.00 pp

REGISTER NovVV

Register before March 4" 20414

Arissioris

Emall registration; krobhertea =) gofa-—giris.com Phone registration: AS4-0150

New Level Logistics, Nassau, Bahamas Office: 242-324-9150


THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 13



INTERNATIONAL NEWS

EARTHQUAKE AND TSUNAMI DISASTER

Japan races to prevent
nuke reactor meltdowns

KORIYAMA, Japan
Associated Press

JAPAN'S nuclear crisis
intensified Sunday as author-
ities raced to combat the
threat of multiple reactor
meltdowns and more than
180,000 people evacuated the
quake- and tsunami-savaged
northeastern coast where
fears spread over possible
radioactive contamination.

Nuclear plant operators
were frantically trying to keep
temperatures down in a series
of nuclear reactors — includ-
ing one where officials feared
a partial meltdown could be
happening Sunday — to pre-
vent the disaster from grow-
ing worse.

But hours after officials
announced the latest dangers
to face the troubled Fukushi-
ma Dai-ichi nuclear complex,
including the possibility of a
second explosion in two days,
there were few details about
what was being done to bring
the situation under control.

Chief Cabinet Secretary
Yukio Edano said Sunday
that a hydrogen explosion
could occur at the complex's
Unit 3, the latest reactor to
face a possible meltdown.
That would follow a hydro-
gen blast Saturday in the plan-
t's Unit 1, where operators
attempted to prevent a melt-
down by injecting sea water
into it.

"At the risk of raising fur-
ther public concern, we can-
not rule out the possibility of
an explosion,” Edano said. "If
there is an explosion, howev-
er, there would be no signifi-
cant impact on human
health."

More than 180,000 people
have evacuated as a precau-
tion, though Edano said the
radioactivity released into the
environment so far was so
small it didn't pose any health
threats.

Such statements, though,
did little to ease public wor-
ries.

"First I was worried about
the quake," said Kenji Koshi-
ba, a construction worker who
lives near the plant. "Now I'm
worried about radiation.” He
spoke at an emergency cen-
ter in Koriyama, about 40
miles (60 kilometers) from the
troubled reactors and 125
miles (190 kilometers) north
of Tokyo.

At the makeshift center set
up in a gym, a steady flow of
people — mostly the elderly,
schoolchildren and families
with babies — were met by
officials wearing helmets, sur-
gical masks and goggles.

About 1,500 people had
been scanned for radiation
exposure, officials said.

Up to 160 people, includ-
ing 60 elderly patients and
medical staff who had been
waiting for evacuation in the
nearby town of Futabe, and
100 others evacuating by bus,
might have been exposed to
radiation, said Ryo Miyake,
a spokesman from Japan's
nuclear agency. The severity
of their exposure, or if it had
reached dangerous levels, was
not clear.

Edano said none of the
Fukushima Dai-ichi reactors
was near the point of com-
plete meltdown, and he was
confident of escaping the
worst scenarios.

Officials, though, have

Bethel Brothers Morticians

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

Funeral Service For

CHARLES LEO
CAREY, 81

of Malcolm Road, East and
formerly of Tarpum Bay,
Eleuthera will be held on
Wednesday, March 16th, 10:00
a.m. at Grant’s Town Wesley
Methodist Church, Blue Hill
Road and Chapel Street. Rev'd.
L. Carla R. Culmer, Rev’d. Dr.
Colin Archer and Rev’d.
Charles Carey will officiate.
Interment will follow in

Woodlawn Memorial Gardens,
Soldier Road.

His survivors include his loving wife of 57 years, Dorothy Carey.
Their children John and Vrynae, Charles and Vernelle, Michael
and Delphine, Leo Jr., Derek and Rosamunde, Ricardo and
Shanna, Susan, Judy, Barbara, and Sharon Carey, Katherine
Carroll, Lateasha and Richard Lowe; Adopted Daughter Betty
Carey-Sweeting; Grandchildren: Kirkland and Denise, Reno and
Shanell, Aretha, Charles Jr., Deante, Deangria, D’Aundre, Dechea,
Adrian and Kaylissa, Derek Jr., Daniel, Deron, Demetrius,
Dejanique, and Denajae Carey, Jamaal and Lisa, Kastico Nabbie,
Apollonia and Stanford Dean, Makeria and Mark Gibson Jr.,
Melissa and Freddie Mackey, Juranda, Natasha, Giovannia, and
Giovanni Swaby, Candisha and Caneasha Carroll, Kevaughn
Ferguson, Shannon Francis, Vandera Knowles, Erin Haven,
Rashad and Rashay Lowe; Great-grandchildren: Kayden, Kyleigh,
Simmel, Sharee, Matio, Lil Dee, Baby Dee, Madison, Daleah Carey,
Jaleah, Jamia and T’Kedria Nabbie, Stanford Jr. and Angelique
Dean, Skyy Cartwright, Tyler Dean, Yohance and Ayira Roach.
Sisters: Hilda, Enid and John, and Carolyn Carey; Brothers:
Kenneth and Jackie, Eugene and Margaret, John and Christine
Carey. Nieces and Nephews: Timothy, Mary Knowles, Faye, Linda,
Renee, Norman, Dewey, Yvonne Ingraham and Paulette Rahming;
John, Christopher, Baldwin, and Jackie Carey, Ella Farrington,
Charles, Lawrence, Shane, Sandra, Elvin, and Terrance Carey,
James, Audrey, Peter, Michelle, Andrew and Janice Miller,
Claudette, Albert, Luke, Lester, Carolyn, Meghan, and Jeanette
Carey, Pastor Ivan, Michael and Cyril Carey, Mark Charlene,
Helena, Ian and Brian Carey; Cousins: Dewitt (Remelda) Carey,
Freda Ingraham, Anthony, Labon and Vincent Thompson, Anna
Strachan, Erdman Deal, Elizabeth Knowles, Reverend Ada
Sands, Dianna Thompson, Florida, Nora, Ronald and Edward
Thompson, Iris, Kathleen; Aunts: Vees Sands and Addie Culmer
of Palmetto Point, Eleuthera; Caretakers: Saimtacia “Lovely”
Simus, and Jane Wallace. A host of other relatives and friends
including Dr. Ed Allen, Dr. David Allen, Paul Allen, Mrs. Doreen
Allen, Dawn Taylor, The Right Honourable Perry Christie, William
Mc Cartney & Family, Mr. Branville McCartney, Charlie Searcy,
Randy Swaby, Sidney Carroll Jr. & Family, Don Gilbert, Karis
Edgecombe, Erica Curtis & Family, Bridgette Stuart & Family,
Shawn Francis, Shirley Allen & Family, Rev. Carl Campbell &
Family, Rev. Dr. Colin Archer & Family, Rev. Carla Culmer &
Family, Sheila Santiago & family of Port St. Lucie, Harriet Smith,
Jennifer Glinton, Mrs. Velma Ferguson & Family, George
McCartney & Family, Mr. Arthur Sealy and Family, Mrs. Fredricka
Butler & Family, Mrs. Joycelyn King and Family, The Charlow
Family, The Major Family, The Richardson Family, Wesley
Methodist Church Family, The Abaco Methodist Family, Wesley
College, Abaco, The Victory Baptist Church Family, Mrs. Marsha
Pratt & Family, Dr. Agreta Eneas Carey, Dr. John Johnson, The
Doctors and Nurses of Male Medical II, Nurses of the South
Beach Clinic, The Malcolm Road Community, Management and
Staff of Y’Cares Fashion Center, Conch Hill, First Choice
Convenience Store, Sir Charles Hotel, Electronic Solutions &
Innovations I & II, John Carey Construction, Crowley Shipping
and Atlantis.

Friends may pay their last respects at Bethel Brothers Morticians,
#44 Nassau Street on Tuesday from 10:00 a.m. to 6:00 p.m. and
on Wednesday at the church from 9:00 a.m. until service time.

declared states of emergency
at six reactors — three at Dai-
ichi and three at another near-
by complex — after operators
lost the ability to cool the
reactors using usual proce-
dures. Local evacuations have
been ordered at each location.
The U.N. nuclear agency said
a state of emergency was also
declared Sunday at another
complex after higher-than-
permitted levels of radiation
were measured there. It said
Japan informed it that all

SEE page 14

NOW
ae
Ted
ie bee)



PEOPLE WALK in the rubble in Minamisanriku town, Miyagi Prefecture, northern Japan, Sunday, March
13, 2011, two days after a powerful earthquake -triggered tsunami hit the country's east coast.
The Yumiuri Shimbun/AP

WO
A

\"]
ED EG TTL has

eur see el MUP UCU et Circe Ree een um r ieee Rute Tel

BUILT TO LAST!

Gnd.

REFRIGERATORS - top mount 18 cf Starting 1 $9700
REFRIGERATORS - better mouet 19ct_..trom $1,69590
REFRIGERATORS - site by sida 25 ftom §1,55000
UPRIGHT FREEZER - AQFROISTEW Mdf............
MACROWAVES - counter lop #if- 2.) Guo.

(4S RANGES - 10°...

han $1270
Sering b $6350

ering be § 768%
Cofors Avadoble: White, Bleck, Bing, ond Sfoindass Steal

MAYTAG

DEPENDABLE PRODUCTS
24" Goes Wall Ceres lc We, ee) Sartig i$ T1950 | POF Potion Monat Refrigerators ital sha) $ 1,69500
M4 Eat Wl Ovens jo) ____$ 1730000 | octane 1). Ub Cycle (ag) ring w #185800

Drpars Bectric

DN" Goes Pang (id iy i Shoring wt #97500
31,2200
ATO 500
Storing 4 $5.6.900
Goring 19.500

UN

$739" WW" Bectric Ronyes pn}.

20 Blecric Ranges in|
Dishovosivers fi le. ef

$1,05500
$1,95000
Glock Weeher ‘Dryers §2,65000

a ade ee ees A ued Rare

We accept Visa, Mastercard, Discover & Suncord * Visit our web site ot weew.taylorindustries.com

Drive one.

FORD “Edge” SEL

3.5L Va ak a ae

oped geketele arias

In Cf fis es md

acy

LEATHER INTER

S17 HABDOS PREE COMMUBRDICATION AMP EMTERTAIMML® |

7ST EM POWERS BY MICROSOFT, ee

a ape Bowe (peh play

ped and bluctooth iclephess aed oopey Gaede foe corrcreation 12m
heal ae inchs and mimo, deal ae

_ hh ire

renry, plow ofl siored ard
1 yee wile srarraray

QDs

3 ee Poel ee eo Dee eel

oak of Lm Theor rss, fir ii

fled ai
i ode anlage

phasein arta thaphy lenieake. aie

ikcod, thanks te sisic of-the-m

PON TALK «

thi
tthe ir mestile ‘als wnch oad
ce Chey whet l dated thatay Sieh the peal
ch woicc-actiralioa a Nerches adie

SYNC LISTENS

arvicey, “S

tal oeccha

you are lOOKing for the best value available
You owe it to yourself to visit our showroom

— Introducing The All NEW

Drive one.

FORD eere SEL i's

ALL Hoole ALE See ALL MEW. Swinton ml 5 a * Hb
iad aa of x

row ewe [tia paurecty
Thaamaa, Bi a ol tee
iibewiion winty dial | i
‘Ais Cie: Brakes tuk rect

elaa., pace = ahi
rat

fowt [ree =



x bre
ft the of meer 10 Far

render, laariar

Tat ates, ob allel
wherh and eenciorg
aberaly nino. od noua

aan. Wadd Ge

sd un
full tank « Hon ond Soon ee.

te ee meee any

THOMPSON BOULEVARD

eee

FRIENDLY MOTORS CO. LTD a en FAX: 328-6094
PAGE 14, MONDAY, MARCH 14, 2011

THE TRIBUNE



INTERNATIONAL NEWS
JAPAN: EARTHQUAKE AND TSUNAMI DISASTER

FROM page 13

three reactors there were
under control.

A pump for the cooling sys-
tem at yet another nuclear
complex, the Tokai Dai-Ni
plant, also failed after Friday's
quake but a second pump
operated normally as did the
reactor, said the utility, the
Japan Atomic Power Co. It
did not explain why it report-
ed the incident Sunday.

All of the reactors at the
complexes shut down auto-
matically when the earth-
quake shook the region.

But with backup power

supplies also failing, shutting
down the reactors is just the
beginning of the problem, sci-
entists said.

"You need to get rid of the
heat," said Friedrich Stein-
haeusler, a professor of
physics and biophysics at
Salzburg University and an
adviser to the Austrian gov-
ernment on nuclear issues.
"You are basically putting the
lid down on a pot that is boil-
ing."

"They have a window of
opportunity where they can
do a lot," he said, such as
using sea water as an emer-

gency coolant. But if the heat
is not brought down, the cas-
cading problems can eventu-
ally be impossible to control.
"This isn't something that will
happen in a few hours. It's
days."

Edano, for his part, denied
there had been a meltdown
in the Fukushima Dai-ichi
complex, but other officials
said the situation was not so
clear.

Hidehiko Nishiyama, a
senior official of the Econo-
my, Trade and Industry Min-
istry, indicated the reactor
core in Unit 3 had melted par-

tially, telling a news confer-
ence, "I don't think the fuel
rods themselves have been
spared damage,” according to
the Kyodo News agency.

A complete meltdown —
the collapse of a power plan-
t's ability to keep tempera-
tures under control — could
release uranium and danger-
ous contaminants into the
environment and pose major,
widespread health risks.

Experts noted, however,
that even a complete melt-
down would probably be far
less severe than the 1986 dis-
aster at Chernobyl, where a

MINISTRY OF WORKS & TRANSPORT
NOTICE

CORRIDOR 11B
MARKET STREET

Utility Installation - Night Works

Temporary Road Closure & Diversion

Jose Cartellone Construcciones Civiles S.A wishes to advise the motoring public and residents on Market
Street that from Monday March 14, 2011, continuous works will be carried out during the nights to
facilitate the installation of new eight inch (8”) water main pipes from Cordeaux Avenue as the works
progresses southbound.

As a result of these works, periodic water supply interruptions will occur while the works are ongoing
as scheduled from 7:00pm to 7:00am.

Access will be given to residents, pedestrians and the affected businesses in this area during the construction
process. Signs will be in place to identify safe passage for Pedestrians and Access points to the businesses
in the area from the diversion route. The public will be updated through the local media (radio &
television) for regular updates.

Your patience throughout is project is greatly appreciated, we apologize for the inconvenience & delays

caused.

For further information please contact :

(The Contractor)

Jose Cartellone Construcciones Civiles S.A
Office Hours: Mon-Fri 8:00 am to 6:00 pm
Office:(242)322-8341/322-2610

Email: bahamasneighbor@cartellone.com.ar

The

(The Contracting Agency)

Ministry of Works & Transport

The Project Execution Unit
Hotline: (242) 302-9700

Email: publicworks@bahamas.gov.bs



. Archdiocese of Nassau
af
announces its

Citywide Lenten Mission

(New Providence)

Theme:

A New Beginning - “Behold,
| make all things new. “ (Rev:21:5)

March 14-18, 2011
Loyola Hall, Gladstone Road

7:00 nightly

Guest Preacher
Rev. Fr. Donald Chambers, STD






DOCTORS
HOSPITAL

reactor exploded and sent a
cloud of radiation over much
of Europe. That reactor,
unlike the ones in Fukushi-
ma, was not housed ina
sealed container.

The nuclear crisis was trig-
gered by twin disasters on Fri-
day, when an 8.9-magnitude
earthquake, the most power-
ful in the country's recorded
history, was followed by a
tsunami that savaged its
northeastern coast with
breathtaking speed and pow-
er.
More than 1,400 people
were killed and hundreds
more were missing, according
to officials, but police in one
of the worst-hit areas esti-

mated the toll there alone was
more than 10,000.

The scale of the multiple
disasters appeared to be out-
pacing the efforts of Japan-
ese authorities to bring the
situation under control.

Rescue teams were strug-
gling to search hundreds of
miles (kilometers) of devas-
tated coastline, and hundreds
of thousands of hungry sur-
vivors huddled in darkened
emergency centers cut off
from rescuers and aid. At
least 1.4 million households
had gone without water since
the quake, and food and gaso-
line were quickly running out

SEE page 15

NOTICE

The aelep bone nemebers for

WILLIAM WomMG & ASSOCHCIATES

= REA

rr _

wire ate felfeoresr

Vel: 242.327.4277 f 2

» Pax: 242.327 4273

ena: wiliianngioiwwongrealiy.com

ed mare eT |

NOTICE

WEST WINDS PROPERTY
OWNERS ASSOCIATION LIMITED

NOTICE IS HEREBY GIVEN THAT THE ANNUAL
GENERAL MEETING FOR THE WEST WINDS
PROPERTY OWNERS ASSOCIATION LIMITED WIL
BE HELD THURSDAY THE 315T DAY OF MARCH,
A.D,, 2011 AT 6:30 PM. AT THE PAVILION, WEST
WINDS SUBDIVISION, NEW PROVIDENCE.

DISTINGUISHED LECTURE SERIES





THIS
MONTHS
TOPIC
















SPEAKERS

PURPOSE

SCREENINGS

REFRESHMENTS
PROVIDED

RSVP

LECTURE DATE
DATE: Thursday, March 17th, 2011
TIME: 2:00PM and 6:00PM

» DOCTORS HOSPITAL

Conference Room Dowdeswell Street
Seating is Limited, RSVP (242) 302-4707

ORGAN DONATION
AND TRANSPLANTATION

Overview by Rosetta Rolle Hylton for Life Alliance Organ Recovery



Please join us as our guest every

third Thursday of the month for a free
public health lecture and scintillating
series of the most relevant health
issues affecting society today.

SCHEDULE

APRIL 21TH, 2011

MAY 19TH, 2011

JUNE 16TH, 2011

JULY 21ST, 2011

www.doctorshosp.com
THE TRIBUNE



INTERNATIONAL NEWS

A WOMAN searches through the rubble of her ho

MONDAY, MARCH 14, 2011, PAGE 15

tsunami in Ofunato, Iwate prefecture, northern Japan, Sunday.

JAPAN: EARTHQUAKE
AND TSUNAMI DISASTER
FROM page 14

across the region. Large areas
of the countryside were sur-
rounded by water and
unreachable. Nearly 2 million
households were without elec-
tricity.

Starting Monday, power
will be rationed with rolling
blackouts in several cities,
including Tokyo.

The government doubled
the number of troops pressed
into rescue operations to
about 100,000 from 51,000, as
powerful aftershocks contin-
ued to rock the country. Hun-
dreds have hit since the ini-
tial temblor.

On Saturday, an explosion
destroyed the walls and ceil-
ing of Fukushima Dai-ichi's
Unit 1 as operators desper-
ately tried to prevent it from
overheating and melting
down by releasing steam.

Officials were aware that
the steam contained hydro-
gen and were risking an
explosion by venting it,
acknowledged Shinji Kinjo,
spokesman for the govern-
ment’'s Nuclear and Industrial
Safety Agency, but chose to
do so because they needed to

me destroyed in Friday's powerful earthquake-triggered



-

Kyodo News/AP



A PATIENT in a wheelchair is helped by attendants as they evacuate
from a tsunami-affected hospital at Otsuchi, northeastern Japan, on
Sunday, two days after a powerful earthquake and tsunami hit the the

country's northeastern coast.

reduce the pressure.
Officials insisted there was
no significant radioactive leak
after the explosion.
Without power, and with
its valves and pumps damaged

Kyodo News/AP

by the tsunami, authorities
resorted to drawing sea water
mixed with boron in an
attempt to cool the unit's

SEE page 16



Ready to Roll!
Get Pre-Approved

for the 2011 BMDA Auto Show Today!

Visit Any Scotiabank Branch Today!

e Flexible Terms
e Attractive Low Rates
e Low Monthly Payments

Visit Scotiabank’s Booth at the
2011 BMDA Auto Show

March 25 - 26

Mall at Marathon

§ Scotiabank’

* Trademarks of The Bank of Nova Scotia.
Trademarks used under authorization and control of The Bank of Nova Scotia.

** Visit Branch for details. Minimum approved loan requirements apply.
Offer expires April 30, 2011. Certain conditions apply.



- AirJamaica.com * 1.800.523.5585

ioe [


PAGE 16, MONDAY, MARCH 14, 2011

We have reached 50,000 Fans on
Facebook and want to celebrate with you!

BECOME A FAN of
BTC’s Facebook page for defails on how

you can win in this HOT PROMOTION!

Win BlackBerries, cell phones, phone cards,
gift certificates, airline tickets and much more!

PROMOTION RUNS FROM
March 7th to April 8th, 2011

TO BECOME A FAN OF BIC VISIT |

Faceboo

www.facebook.com/mybte and
click the ‘LIKE’ button

coll anytime... 7

sagsn

CALL BIC 225-5282
www.bicbahamas.com
www.facebook.com/mybte

Li
See oan
L Pry

s >»)

Fear Cowaerioe- |S fei wowed

ENTERPRISE | WIRELESS | BROADBAND | VOICE | DIRECTORY



Health, wealth and happiness cover.

insurance, health, pensions, life

If you protect your lifestyle with a CGI company, you can pay less for motor and home insurance and enjoy first-
rate business cover too. From health insurance, rich in benefits and offering global coverage, to pension services
delivering efficient, accurate and timely reporting, CGI companies offer flexible products to make the most of your

budget.

Customer products and services are supported by the resources of a $300 million regional insurance and

employee benefits provider.

yy,
FE] coLontaL a ee ec
soF5 Sree

& GENERAL

Security & General Insurance
Tel. 326-7100

MEDICAL

Atlantic Medical Insurance
Tel. 326-8191
Freeport Tel. 351-3960

Colonial Pension Services
(Bahamas) Ltd.
Tel. 502-7526

7A COLONIAL GROUP

B INTERNATIONAL Colonial Group International: Insurance, Health, Pensions, Life
Lae





THE TRIBUNE

INTERNATIONAL NEWS

AN e NE =O Lea PLO ad Sada |

RUBBLE Is SCATTERED across 3s the vl wide areas of the own of
Minami Sanriku, northeastern Japan, on Sunday, two days after a
powerful earthquake and tsunami hit the the country's northeastern
coast.

Kyodo News/AP



DESTROYED CARS are left out on a street following a massive
tsunami triggered by a huge earthquake in Tagajo near Sendai,
northern Japan, Sunday. Koji Sasahara/AP



A FISHING BOAT which was washed away rie tsunami, sits over-
turned in Hachinohe, Aomori, northern Japan Sunday after Friday's
catastrophic earthquake and tsunami. Kyodo News/AP

FROM page 15

overheated uranium fuel rods. Boron disrupts nuclear chain
reactions.

Operators also began using sea water to cool the complex's
Unit 3 reactor after earlier attempts to lower its temperature
failed, the U.N. Nuclear Agency said.

The move likely renders the 40-year-old reactors unusable,
said a foreign ministry official briefing reporters.

He said radiation levels outside the plant briefly rose above
legal limits, but had since declined significantly.

Japan has a total of 55 reactors spread across 17 complexes
nationwide.

Lifestyle Protection

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


Francis to be
Brewery chair

* Commonwealth set to
appoint ex-Central Bank
governor and current
BIC exec chair once
$62.5m IPO is completed
* Kerzner PR chief, Ed
Fields, also set for Board
appointment



JULIAN FRANCIS

By NEIL HARTNELL
Tribune Business Editor

Telecommunications Compa-
ny’s (BTC) current executive

chairman of Commonwealth
Brewery’s Board once its
upcoming $62.5 million initial
public offering (IPO) is com-
pleted, Tribune Business can
confirm.

Sources familiar with the
situation confirmed that Com-
monwealth Brewery had
already discussed the post
with Mr Francis as part of an
extensive due diligence under-
taken on the former Central
Bank governor and other can-
didates, with the company set

SEE page 8B

BTC rival ‘not happy’
On cellular monopoly

By NEIL HARTNELL

Tribune Business Editor

A direct competitor to the
Bahamas Telecommunica-
tions Company (BTC) has
admitted it is “not happy
the mobile monopoly” will
remain in place - and has
been extended - post-pri-
vatisation, but acknowl-

ing” on that last remaining
protectionist barrier.

Paul Hutton-Ashkenny,
president of IndiGo Net-
works operator, Systems
Resource Group (SRG),

mentary debate standing
between Cable & Wireless
Communications (CWC)
and its $210 million acquisi-

ling interest in BTC, it was

sector and the entire

SEE page 7B

THE

cb
het:

rl
BESTEL esta

THE TRIBUNE

usine

MONDAY,

By NEIL HARTNELL
: Tribune Business Editor

RoyalFidelity Merchant

i Bank & Trust will launch its
i next international mutual
? fund offering this June in a
: bid to capture the $10 million
? that will be redeemed when
? its first such product matures
: that same month, its president
? telling Tribune Business the
? investment bank planned to
Julian Francis, the Bahamas }

launch two funds per year.
Reaffirming his belief that

RoyalFidelity’s TIGRS fami-
chairman, will be appointed as }

ly of funds was still “the right

? recipe” for providing Bahami-
? an investors with access to
: portfolio diversification and
i potentially higher returns
: from global capital markets,
? Michael Anderson said the



TANYA MCCARTNEY

By NEIL HARTNELL
i Tribune Business Editor

edged that “the clock is tick-

Finance Corporation of the

: Bahamas (FINCO) wants to be
? sure it can sustain dividend pay-
: ments before its resumes profit
i returns to shareholders, its
? managing director has told Tri-
said that with just the Parlia- : bune Business, wath the mor

? gage lender’s efficiency ratio
? currently between 36-40 per
? cent.

Speaking just days after Roy-

: alFidelity analysts suggested “it
tion of a 51 per cent control- {| would be reasonable” to expect
: the BISX-listed lender, which

time for the communications }
? by Royal Bank of Canada’s

is 75 per cent majority-owned

SEE page 5B

ee

Custom build your ideal home or simply choose
Cros 3 prevt alfordible house plans offered today,

Ji nine ae Live abe aeaty pou'oe abeanpe anette

ei eats Sle) eI 9

HGChristie
al Elegant island Living



MARCH

14,

investment bank was now
working to develop a “viable”
alternative to attract the $9.98
million in investor principal
that will be released once its
TIGRS 1 sub-fund matures.

“A new TIGRS will come
out in June to replace TIGRS
1 that matures at the end of
June,” Mr Anderson told Tri-
bune Business. “There is $10
million sitting in TIGRS 1, so
we’re trying to find a suitable
investment to back with the
next TIGRS.

“It’s like trying to figure out
what’s suitable. What will be
the rush over the next five-
year period?” The aim, Mr
Anderson added, was for the
next TIGRS sub-fund prod-
uct - likely to be named
TIGRS 5 - was “to provide a

-FINCO: NO ‘START-STOP’
DIVIDEND RESUMPTION

* BISX-listed mortgage
lender wants to be
certain it can ‘sustain’
profit returns to
shareholders

* Efficiency ratio lies
between 36-40%

* 10.47% non-accrual
loan portfolio
deteriorates further
alter year-end
























2011

-RoyalFidelity targets
$10m fund ‘retention’

“Investment bank searching for ‘viable’ investment for

_ upcoming June fund, in bid to attract investor capital from
| maturing TIGRS
_* Eyeing two new international mutual funds per year

_ * Still believes strategy ‘right recipe’ for Bahamian investors

viable, alternative investment
for them [TIGRS 1 investors]
to move into”.

“We want people to main-
tain their diversification in
international securities,” he
explained. “That’s what the
TIGRS are about, diversifying
people’s portfolios outside
Bahamian securities in a prin-
cipal protected, low risk way.

“They provide exposure to
markets outside the Bahamas.
There aren’t any other oppor-
tunities like this for Bahamian
investors, so we want to con-
tinue to broaden the base of
investments that people have
an opportunity to invest to
allow them to do so.

SEE page 4B

The information contained is from a third

party and The Tribune can not be held
responsible for errors and/or omission
from the daily report



The Superocean Heritage 46

BREITLING BOUTIQUE

ee ee ee

=e

BREITLING

Gov't urged: Mandate 20%
Bahamian participation

By NEIL HARTNELL
Tribune Business Editor

The Bahamian Contractors Association’s (BCA) president
has urged the Government to follow the Baha Mar template
and ensure Bahamian construction companies get 20 per cent of
the infrastructure project work to be performed by China Har-
bour Engineering Company, expressing concern about the deal
given the work shortages and unemployment currently plaguing

the sector.

Speaking to Tribune Business after the Government signed a
Memorandum of Understanding (MoU) with the Chinese state-
owned company last week, Stephen Wrinkle said the Bahamas
was “going to have to be very careful how we proceed with this

relationship” with Beijing.

Acknowledging that the Government, which is struggling with
a wide fiscal deficit and growing $4.2 billion national debt, would
obtain numerous benefits from dealing with China, namely the
low interest rates associated with the financing, Mr Wrinkle said
the “turnkey” solution entities such as China Harbour Engi-
neering Company provided -finance, design and build - were
also attractive. However, he argued that this had to be balanced
with the fact that Chinese labour was the main component in
these works, at a time when many Bahamian contractors were fac-
ing work shortages, while unemployment in the Bahamian con-
struction industry was widespread.

“That’s the difficulty facing every country; the value of these
works far exceeds the cost of the Chinese labour component,” Mr
Wrinkle told Tribune Business. “We hope to get some dialogue
going soon with the Government and the Chinese company to
ensure there is some Bahamian component.

“At the moment, we are concerned because there is a shortage
of work, and while we understand the inclination of the Gov-
ernment to go ahead with these works based on the financing
component, we have to have some Bahamian component.

“We cannot let all these people come in and take the work

SEE page 6B



WELLS: BIOFUEL FACILITY’S
PROSPECTS ‘ARE NOT ROSY

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

The prospects for Bacardi’s
former Clifton Pier processing
facility to be turned into a bio-
fuel-manufacturing plant “are
not rosy”, a former Cabinet
minister behind the idea has
admitted, as the group seeking
to advance the proposal have
run into problems in identifying
where they will source raw
material from and a destination
to export the final product to.

Such considerations had
been deemed key to pinning
down financing for the biofuel

a

project, which businessman and
ex-politician, Tennyson Wells,
last year said he hoped could
service the Bahamas and the
Caribbean and create “hun-
dreds” of jobs for Bahamians.

Mr Wells revealed his
investor group was hunting for
the financing for the biofuel
project in an October 2010
interview with this newspaper,
having already got “hundreds
of thousands of dollars tied up”
in the purchase option it has on
the former Bacardi Clifton Pier
facility.

SEE page 6B

BREITLING

INSTRUMENTS FOR PROFESSIONALS"â„¢


PAGE 2B, MONDAY, MARCH 14, 2011



By ROYALFIDELITY CAPITAL
MARKETS

It was a busy week of trading in

of 4,238 shares to see its stock price
decrease by $0.10 to close at $4.40.
Focol Holdings (FCL) traded a vol-
ume of 4,700 shares, its listed price

Week ending 11.03.11

THE TRIBUNE

the Bahamian stock market, falling $0.01 to close at $5.47. BISX SYMBOL CLOSING PRICE WKLY PRICE CHANGE VOLUME YTD PRICE CHANGE
nvestors traded in six out of the Finance Corporation of the : 9
listed securities, with one advancer Bahamas (FIN) traded a volume of a : Aa ee aa bone
and three decliners. 2,621 shares to close unchanged at BOB $ 4.40 $-0.10 4238 -10.20%
$5.88. - 4

EQUITY MARKET a oe a 5 0.00%

: . of 62,230 shares acer BOND MARKET BWL $ 2.70 $- 0 0.00%
5 50 Be pices DUNE en cree No notes traded during last week. CAB $ 10.21 $- 0 “2.39%

; shares compared to the pre- CBL $ 6.78 $-0.02 47271 -3.14%
vious week's trading volume of é a ( ‘One
29,680 shares. Sealer ena a : ae re a 10.00%

AML Foods (AML) was the lone ae CWCB $ 2.11 $-0.12 0 15.30%
advancer, trading a volume of 2,000 There were no earnings reports DHS $ 1.40 $- 0 -12.50%
shares, its stock price increasing by released last week. FAM $ 5.25 $- 0 -13.51%
$0.05 to close at $1.09. . FBB $ 1.96 $- 0 -9.68%

Commonwealth Bank (CBL) was AGM Notice: : FCL $ 5.47 $-0.01 4,700 0.18%
the volume leader, trading a volume Finance Corporation of the FCLB $ 1.00 $- 0 0.00%
of 47,281 shares, its share price Bahamas (FIN) has announced its FIN $ 5.88 $- 2,621 -18.67%
falling $0.02 to close at $6.78. AGM will be held at the British ICD $ 7.40 $. 0 0.00%

Bank of the Bahamas (BOB) was — Colonial Hilton Hotel on March 17, JSJ $ 9.82 ce 0 0.00%
the big decliner, trading a volume 2011, at 6.30pm. PRE $ 10.00 $- 0 0.00%

Index Weekly % Change
H DJIA 12,044.40 -1.03
ome =
500 1,304.28 -1.28
Quality Products
NASDAQ 2,715.61 -2.48
Wenn ar Nikkei 10,254.43 -4.11
Plea eee titan
FOREX Rates
Currency Wkly % Chge
CAD 1.0340 0.42
, GBP 1.6087 = -1.11
ee h EUR 1.3912 -0.54
ftp uss Daf ihy Commodities
Commodity Wkly % Chge
KITCHEN ee FLOOR
Crude Oil 113.40 -2.31
MAM MIRAMAR = TAMARAC, FL MYERS Gold 1,411.50 0.61



305 591.4033 954.499.4601 4.597 2460 ee
S00 WAM 35 St, #15

4S MiranarPeay §=8045 Hebert Ot = 15248 Teeriaeni Tr
Mami. AL 3035 Minrres, FL93005 9 Tamarac, FL 33371 fai SAME AS acre
1.877.6GHOMEKO
www.homeko.com

Seove Mown- Mon-Prt iia - fede Sai: tides - dpm

Market wrap
continues on
page 8B

eles acelamia
Paradise

Including all pool and eer Are ee

a Ate Re On eee eh ele ele

* Free Continental Breakfast daily

Kids under 12 also Eat Freeâ„¢

Se i hmeta | elena eta king ize or two double beds
* Free Wi-Fi & Free Parking

* All few Flal Screen TVs with cable programming
ete TUE Ee

BT ite aCe Aletta eee td

ey
ie ata
Shas

Distributed in the Bahamas by

# The dAlbenas Agency Ltd.
Palmdale, 677-1441

QUA


THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 3B





Gasoline strike
threat looming

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

The economic threat of a day
without gasoline being served
at pumps throughout the
Bahamas looms, as petroleum
retailers today meet with the
Government to ask for a rise
in the fixed mark-up they are
allowed to collect on a gallon of
gas or diesel, given business
conditions which some claim
could put them out of business
altogether if not addressed.

Providing evidence of their
plight, the Margin Relief Com-
mittee of the Bahamas Petro-
leum Retailers Association
(BPRA) surprised most drivers
on Friday when an estimated
80 per cent of all gas/diesel
retailers shut down their diesel
pumps for 12 hours.

Their protest had been set to
continue for another 12 hours,
until midnight on Saturday
morning, but was brought to an
early close following an inter-
vention by minister of state for
the environment, Phenton Ney-
mour, who has responsibility
for relations with the petroleum
industry.

One business in the trans-
portation industry told Tribune
Business that had he not heard
a rumour of the planned shut-
down of diesel sales and
stocked up on fuel in advance,
the move “would’ve had a dev-
astating effect” on his opera-
tions.

Oswald Moore, chairman of
the Margin Relief Committee
of the BPRA, said the inten-
tion among the industry’s mem-
bers was that no prior warning
would be given of when the fuel
sales shutdown would take
place and, as it stands, a final
decision on whether or not
there will be a similar protest
involving gasoline - used by
most of the motoring public -
will take place.

The Margin Relief Commit-
tee is asking the Government to
allow retailers to collect 30
cents, rather than nine cents of
profit, on every gallon of gas,
and 20 cents rather than four
cents per gallon of diesel.

Without it, Mr Moore said
some retailers are likely to give
up on the industry altogether,
given that as oil prices rise,
costs rocket and profits shrink.

“Hopefully this will all be
solved in an amicable, peace-
ful, manner. We apologise to
the public for any inconve-
nience that may be caused, but
we’ve been agitating for a long
time. It’s not right for retailers
to continue to pour their assets
into keeping the business afloat
and get into a worse and worse

Welcome

financial situation...the indus-
try needs to be able to stand
on its own two feet,” said Mr
Moore, adding that margins
have remained fixed at that pre-
sent level for around 30 years.

Oil prices fell on Friday as
news spread of a massive earth-
quake and tsunami having
struck Japan, giving reason to
suspect that demand for oil
from the world’s third largest
importer would fall. The fall
bucked a trend of price rises in
recent weeks in light of the civ-
il unrest in Libya, a major oil
producer.

Mr Moore said that in his call
to the BPRA on Friday, which
brought an end to the BPRA’s
diesel shutdown, Mr Neymour
said the Government “under-
stands our plight and they are
willing to work with us towards
a solution.

“From their end it’s a little

=
£

LIVE THE CHAM
REGISTER

) INTER

CuIAY Pt)

CELEBRATING

more complex, and they have
various other things to look
into, which we understand,”
added Mr Moore. The official
meeting between Mr Neymour,
who had for some time indicat-
ed his willingness to meet with
retailers to discuss the price
controls, was set up for today.

Meanwhile, reflecting some
of the difficulties the Govern-
ment will face in addressing the
retailer’s demands, a trans-
portation business owner told
this newspaper on Friday that
even without the increase in the
price of diesel at the pump that
would come with any conces-
sion from the Government to
the petroleum retailers, he has
found “the overall increase in
prices is affecting us big time”.

“And the problem is we can’t
go up in our rates because right
now we’re struggling to get
business here as it is,” he added.

H’imbrace
OUP Power!

bE TOU WANT DE SEL
APTENDO THI

Eopoctrmi

Lahr
1} ii [hs
VIAL

ONAl

J

WOMEN’S DAY

os

HEN, ALLISON
NIOOLE AVANT

Introduction of Team
Florinda Clarke RuN
Mikus Mikula TOM

Or, James Iferenta
Introduction of speakers

Bridging the gap “old to new"

Physician case presentation

Case Report -

Aurse Florinda Clarke AN

Case Report -

Nurse Mikus Mikula TGOM &
66 Sharman Williams RM

10:45am

17:00am

Gottes break

Versajet - Hevolution in Debridement -

Smith & Nephew
Hands on with the Versajet

12:00no0n BREAK

12:15pm

1:50pm Questions

Vote of thanks.

Vacuum Assisted Closure {'¥4,¢.,}
Pears & Perils

‘OVANICE

BAT LAS



HON, LORETTA
BUTLER TUNER

LUE SROHEILS

Spossored by;
Smith & Nephew

TEMS Ltd,

Aaretibes of the Mindset group

Nassau Agencies

SilN

WOURSD



i aed

The following persons are asked to contact

STOR-IT-ALL OF NASSAU, LIMITED
in connection with items left in storage:

* CORRINE HIGGS GARNET F. MORRIS
* ROSMARIE ROLLE * KEMESHA A. WELLS

Payments not made by March 22nd, 2011. Items will be sold
on March 24th, 2011 to cover outstanding Account.

Stor-it-all
Soldier Road

(by Lowe's Wholesale),

Telephone: 393-0964

Â¥

stor-it-all

COMMONWEALTH OF THE RARANLAS ' TO16
IN THE SUPREME COURT OM hoks/No M26
Commercial Division

IM THE MATTER OF

CLEAR WATER FUND LIMITED
UM LIU TATION)

ANT

IN THE MATTER OF
THE INTERNATIONAL BUSINESS COMPANIES ACT 200

ORDER

BEFORE His Lordship the Honourable Sir Michael! L. Baneetl the Choe! Justice of the
Supreme Court of the Commonvwealih of The Bahamas

UPON THE APPLICATION of Alison J. Treco and Maria Ferere, in their copacities os
Ihe Join Liquidator. of Clear Waser Fund Linoited (in Liquidation) (hereinafter referred wo as
“CWE") in the Voluntary Winding-up thereat, by Summons filed herem an the 15" day of
Fetragry, A.D., S01

UPON READING the Affidavit of Alison J. Treeo swom on the 1" day of February
ALD. 2001 and filed herein on the 15" doy of February, A.D. 2001

AND UPON HEARING Mir. Broan MM. Mores. QC with Genel] RK. Sands of Counsel for
the Jount Liquidaiors of CWT

IT 18 HEREBY ORDERED that

le All persons claiming to be creditors of CWP shall submit theer claim in a form
aperaved by the Joint Liquidators om o¢ befor: the 29 day of April, 2011
(hervinatter referred to aa “Whe Bar Date”) failing which such debts of claims
shall not be considered for the purpose of declaring and paying dividends in the
CWP liquidation (hereinafter referred 10 os “the Dividends") and the clairnant
Shall mot be enitled to participase in any such dividends amd] shall be forever
eecluded from the distrvbution of the assets of CWF.

The Joint Liquidatera shall in digtrvbuting the assets of CWE do so without regard
to and without paying of retaining or making provision for the payment from sech
assets of CWE of any debt or claim whieh is cr which hes been or may be alleged
10 be owing by or made againel CWP but in reepect of which a claim hae not been
submitted bo the Joi Liquidators in a form approved by the Joint Liquidatcers on
or before the Bar Dane

The Joint Liquidators shall not later than twenty-cight days before the Gar Date
cause 10 be inserted teooe in The Tribune, a daily newspaper im ihe Bahamas, an

advertsenscedt of the full cext of this Order

The Joint Liquidators shall mot later than twenty-eight days before the Bar Date
seve a copy of this Qrder on the Trastee of Hermard L.
Securitics LLC, the Tragtee of Remand Madoff, Maxam Absoluwe Rem Fund
Lid. and Maxam Absolute Return Furd LP. by sending if to them al their mailing

Madod? Investment

address of having tt delivered to their registered office or place of business.
The Affidavn of Alison J. Treoo sworn herein on the 10" doy of February A.D.

2011 be kept confidential and not available for insmection without the leave of the

our

AMID that the ocais of and occasions by this application be coals in the liquidation.

Dated the 4 day of March, A.D. 2011

REGISTRAR

feo Ginde: wan tates oul by Mit, MCKINNEY, BAROROPT & HUSSHES. Chambers, Marces bewse, 84 Licurge Sireri
“es. Haberes, Alomoys for the Joon Liquidators


PAGE 4B, MONDAY, MARCH 14, 2011

THE TRIBUNE



RoyalFidelity targets
$10m fund ‘retention’



















































Winterbotham Fund Services

A Miedscan of Tike Ui aierdetins Tour Comynaay [ineinea

ASSISTANT FUND ADMINISTRATOR

Winterbotham Fund Services is the largest fund administrator in The Batemas
in terms of Bahamian ineestment fends under adeintiretion, and we are lookmg
for a vibrant, enthusiastic and intelligent candidate interested in pursuing a
challenging and fulfilling career in investment fead administration to join our
growing beam.

Main Job Tasks and Kespansibilities
Kone. Your-Olient data entry and database maintenance
Dispatch statements of acooent and holdings to clients and investors
Annual Fo: payeurnts bo Repetry and Secunties Commissen
Inconporase: funds and companies and facility set-op
Performs aeaual Reviews of funds, compamies and haak acccants
fdaintain Winterbotham Merchant Bank accounts for fund chenis
Prepare: and proces intemal and cxbennal were tramsers
Provide suppor for the fond snd client accruing Unies
Haale 2a! box clientiinvestor queries and pequesis Gor information and
documentation
Process fund subscriptions and redemptions aad share transfers
General cherie dulics incliding pholocop ying, Saining and mailing
Huntin clacton: dnd hand copy Chee sem
Resolve administrative problems and inquires
Prepare and modify documents including corespondence, reporis,
draSts, memos and e-mails
a Record, compile, transenbe and disiritete minntes of meetings
« livin: chente for eras reddened
Education aed Experience
Bachelor's Deere: at her Resins Adminstration, Eoonomecs
Fiance, Banking or Commerce
Good compater skilk and iniwled ee of WS Word, Fxcel and Cutlook
Knowledge of financial markets, services and penducts, including hedge
bonds and securities
Knowledge of clerical and administrative tasks and sytem such a
fing and record keeping

Language Skills: Spankh anior Porugucse. high 001 a requirement,
isa pilin

Key Competenches

Excellen! communication skills. - writien and verbal

PRiniite, Of panei and pre ielie

Aptibade to sollow verbal and writen instractions and procedures
Problem assessment and problem solving skills

Information gathering and information monitoring

AEntion 1h chetail and ageuracy

Flexibility and adaptability

Customer service orientation

Ability to work as part of a team

np titcitihéainkth «&

_t + &#

pititiit# ## & #

Only properly qualified potential candidates should send their ‘C¥'s for arrival
on or befor: March 31, 2001 via e-mail to naae®winterbotham.oon or via
fax bo 22-35-4692 or via pos) to EO), Teo N06, Ain: Fern Jones, ANP
Head of Winlerbotham Fund Servies

COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT

Equi ite
IN THE MATTER OF ALL THAT piece parce! or lot of land loounias Lot nemoer
Nine (9) in Block Number Twenty (20) in the Sebdrviaia called and Keown as
“Coenmut Cegve" and itvate in the Seuthoms Dictriet of the bland of Mew Providence
one of the [sland of the Coftmonwealth of the Dahamas.

AND
IN THE MATTER OF ‘The Qhicting Tides Act, 1959
AND

IN THE MATTER OF The Petition of Frederica Stuart

NOTICE

‘The Fetiion of FREDERICA STUART of the Southern district of the Idand of New
Providence: ome of the bland of the Conmaorivealih of the Bahamas in eapect of

ALL THAT picce parcel er lot of land being Lot Member Mine: (5) im Block Twenty (29) on the
plan or bots. af the Sebdivision called and keeown at “Cocual Grove” and aitnaie in the Souther
Dated ef the snd of New Providence aforesaid and is membered Qe Hundred and Sixty.
Thee (163) which said piece parcel or Lod of land is bounded on the Noowh by Lot Number Eight
(8) im Block Nurniber Twenty (20) of the said plan and running thereon Chae Hundred and Five
(105) Feet on the East by Lot Number Wine’) in Block Number Toren (20) of the said plan
and penning thereon Filly (20) Feet onthe south by Lot Maraber Ten (10) la Block eombsz
‘Twenty 20) of the said plan and runing thereon (ine Hundred and Fire (105) Feet on the West
fy a private wood in the seid subdivision beown as “Third Sooo” and running thereon Fifty (50)
Feel

FREDERICA STUART claime to be the ouner of dhe fi: simgle exude in possession of the lot
of land hereinbefore deserted (bee from encumbrances.

AND the Petitioner bees made application io the Supreme Court of the said Commeanweaith af
The Bahamas under Section 3 of Thee Quiesing Vithes Act, 1939 in have her tithe te the said parce!
of Land investigated gad the eatere and extent theren determined and dectoned in a Certificate of
Tile to be grammes! in accordance with the provisions of the said Act

NOTICE IS HEREBY GIVEN that any person having dower of ight to Dewer of an Adverse:
Clim ora cham not recegnized in the Petition shall anor befooe the expiration of 15th day of
April, ADL 2011 Gein the Suprense Court and serve on the Petitioner or the untersigned a
Shoe ment of ts claim in Ghe prescribsed area verified by aa adTidavii to be filed therewith,
Fallon of any such person te fikeand seret-a Statement of bis clin on or befoe the Lith

day od April, ALD. 2011 will perme a8 a bar of such claim.

Copies ol the plan may be ineipected at;

The Regatry of the Supreme Cenrt.
Departaent of Lands and Surrey.
The Chanter of Tumgucst & Co Counsel & Anomee-AtLaw, Atomeys for
he Petitioner.
Dotedthe SH day of February, 40, 2011
TURNQUEST & CO
Chambers
4 Massa Sircel
Hirsi, Babeinnee

Attorneys for the Petitianer

FROM page 1B

“We’re likely to be doing
two TIGRS a year, one at the
end of June, one at the end
of the year.”

RoyalFidelity’s TIGRS
family has enjoyed a mixed
performance, their launch
having coincided with the
onset of the global recession -
arguably the severest, and
deepest, downturn since the
1930s Great Depression.

The TIGRS 1 sub-fund,
which matures this June, after
being launched in December
2007, has rebounded some-
what from the negative 12.71
per cent return on investment
suffered during its first year. It
generated positive returns of
7.02 per cent and 5.4 per cent,
respectively, during 2009 and
2010, clawing back much of
the ground lost during its for-
mative first 12 months.

At year-end 2010, the
TIGRS 1 sub-fund, whose
investments are split 25 per
cent each into four index-
linked funds, was showing an
negative return of just 1.53
per cent since inception, with
its net asset value (NAV)
closing at $9.89 per share at
end January 2011.

Mr Anderson said the
TIGRS 1 sub-fund’s perfor-
mance was being impacted
because some of the indices
it had invested in were “still
below water”, but pointed out
that the ‘principal protection’
principal behind the fund

family meant that the down-
side risk for Bahamian
investors was eliminated,
meaning they would recover
all their initial capital invest-
ment plus benefit from any
upside.

“In the overall scheme of
things, we still think it’s the
right recipe,” the RoyalFi-
delity president said of the
international investment fund
strategy. “We still have a
strong belief that over the
next three-five years, the
growth in the global econo-
my will fuel growth in those
emerging market economies,
and their earnings and prices.

“Tn terms of the protection
side, it’s a good fall back posi-
tion for people without the

risk of losing capital....... To
get your money back is a
good thing.”

The principal protection
works through investing a
portion of investor capital into
Bahamian-based fixed income
securities, such as bonds, pref-
erence shares, government-
registered stock and bank
deposits, the certain returns

LEGAL NOTICE

PEPSI-COLA (BAHAMAS)
BOTTLING COMPANY LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the aboved named Company is
in dissolution, commencing the 2% day of February, 2011.
Creditors are required, on or before the 7" day of April
A. D., 2011, to send their names and addresses, and the
particulars of their debts or claims to the attention of Craig
A. (Tony) Gomez, Liquidator of the said Company at the
offices of Baker Tilly Gomez, The Deanery, 28 Cumberland

Street, P.O. Box N-1991,

Nassau, Bahamas, and

if so

required by notice in writing from the Liquidator, to come in
and prove such debts or claims at such time and place as
shall be specified in such notice, or in default thereof they
will be excluded from the benefit of any distribution made
before such debts are proved or precluded from objecting

to any such distribution.

DATED the 2"¢ day of February A. D., 2011

Craig A. (Tony) Gomez
Liquidator

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, (No.45
of 2000) that STAEL HIGH YIELD FUND LIMITED
(IBC No. 128658 B) is in dissolution. Mr. Roberto Carlos
de Castro Abreu is the Liquidator and can be contacted
at Avenida Arriaga, n.° 77, Edificio Marina Forum,
6.° andar, Funchal - Madeira, 9000-060, Portugal. All
persons having claims against the above-named company
are required to send their names, addresses and particulars
of their debts or claims to the Liquidator before April 11%,

2011.

Mr. Roberto Carlos de Castro Abreu
Liquidator

ifyou're thinking
of buying a home,

getit
Inspected
first!

its the smartest move you can make.

Check us out online at

Wir .dunnghti nspect 1ONS.COM

or call today for a quote.

424-3368

Serving all thay lars ol The Bahamas

We abate by the Standards of Practice aed Dex

io of Eiicg of ASHI lmrigan Sony

DUNRIGHT..

66 |i
Home Inspections

| Horne neering

from this ensuring no losses
are suffered on the interna-
tional investments.

Elsewhere in the TIGRS
family, the TIGRS 2 index-
linked sub-fund, which is
invested in the same indices as
its TIGRS 1 cousin, has ben-
efited from being launched at
a later date, June 2009, when
the markets had recovered
somewhat.

During its first six months,
it generated positive returns
of 13.38 per cent and, while
these slowed during 2010,
TIGRS 2 still finished the
year with a 2.61 per cent
upside, taking total returns
since it launched to 16.33 per
cent.

The TIGRS 2’s NAV was
$11.05 at the end-January
close.

The TIGRS 3, the fund that
was unveiled in March 2010
to invest in three commodi-
ties-linked indices - copper,
nickel and gold - remains in
positive territory with a 0.25
per cent return, yet it is the
equities sub-fund that remains
the most disappointing per-
former, having generated a
negative 16.02 per cent return
to end-December 2010.

As for TIGRS 4, which was
offered to Bahamian investors
towards the end of last year,
Mr Anderson acknowledged
RoyalFidelity’s continued dis-

appointment that it had only
raised $1.5 million, or less
than 30 per cent, of its $1.5
million target.

“Tt’s unfortunate, as we did
not get the institutional sup-
port we were expecting,” he
told Tribune Business, “and
the timing was such that peo-
ple were not convinced that
the emerging markets were
the place to put their money.

“It’s one of those things
people need to get educated
on. It will improve. I think it
just comes from uncertainty
and reluctance to take the
risk, even though there’s no
risk to capital.

“People stuck with safety;
the investments they know.”

RoyalFidelity's TIGRS 4
fund was structured to pro-
vide 60 per cent equity expo-
sure to emerging market
economies such as China,
Brazil, Taiwan, Korea and
Singapore, balancing this with
20 per cent exposure to the
S&P 500 Index and the MSCI
European, Australasian and
Far East Indices.

This reflected RoyalFideli-
ty's belief that emerging mar-
kets will provide better
growth and investment return
opportunities over the next
five years than developed
country economies, growing
at 6-8 per cent as opposed to
2-3 per cent.

LEGAL NOTICE

IN the Matter of PEPSI-COLA (BAHAMAS)
BOTTLING COMPANY LIMITED

(In Voluntary Liquidation)

By Written Consent Resolution of the Shareholders
taken effective on the 2â„¢ day of February, 2011, the
following resolution was adopted:

RESOLVED that the Company voluntarily wind up its
affairs and dissolve its corporate existence and that
Craig A. (Tony) Gomez of Baker Tilly Gomez, The
Deanery, 28 Cumberland Street, P.O. Box N-1991,
Nassau, Bahamas, be appointed Liquidator of the
Company for the purposes of such winding up and

dissolution.

DATED the 2"¢ day of February A. D., 2011

Craig A. (Tony) Gomez
Liquidator

Bahamas Electricity Corporation

Tender

The Bahamas Electricity Corporation invites
Tenders for the services described below:

Tender No. 747/11
Group Medical & Life Insurance Services

Bidders are required to collect packages from
the Corporation’s Administrative Office, Blue
Hill & Tucker Roads

Contact: Ms. Charlene Smith at telephone
302-1158

Submissions should be marked as follows:

Mr. Kevin Basden
General Manager
Bahamas Electricity Corporation
Executive Offices — Blue Hill & Tucker
Roads
Nassau, Bahamas

Tender No. 747/11

Group Medical &
Life Insurance Services

Deadline for delivery to BEC:
March 25, 2011
no later than 4:00 p.m.

The Corporation reserves the right to accept
or reject any or all proposals.

For all inquiries regarding the tenders please
contact Mrs. Antionette Turnquest

at telephone 302-1166
THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 5B



=
FINCO: NO “START-STOP’ DIVIDEND RESUMPTION

FROM page 1B

Bahamian subsidiary, to resume
dividend payments during its
2011 financial year, Tanya
McCartney said FINCO’s “do
not want to start and stop”
investor returns.

Pointing out that FINCO’s
improved $18.2 million profit
for the year to end-October
2010, a $13.6 million improve-
ment on 2009, was driven
entirely by a $13.7 million drop
in credit allowances as a result
of changes to its loan loss pro-
visioning policy, Ms McCart-
ney told Tribune Business:
“The chairman of my Board
would say to you that the
improvement in results is pure-
ly the change in provisioning
policy, and not the result of
improvements in the non-per-
forming loan portfolio.

“The Board is going to con-
tinue to look at our non-per-
forming loan position as well
as provisioning. They’re the two
main factors we’re looking at -
non-performing loans and the
level of provisioning - on a
quarterly basis. There are other
factors as well, but there are
the two main ones that have
factored into our deliberations
in the past as to whether to
make a dividend payment.”

And she added: “Those two
things are impacting our ability
to pay dividends. We want to
be in a position where we
resume dividend payments and
are able to sustain them. We
do not want to start and stop.”

FINCO’s financials disclosed
that its non-accrual (non-per-
forming) loan portfolio, con-
sisting of credit more than 90
days past due, accounted for
10.47 per cent of its $847.212
million portfolio at year-end
2010 - some $88.64 million.

Ms McCartney acknowl-
edged that there had been fur-
ther slippage in the non-accru-

al column since end-October
2010, and told Tribune Busi-
ness: “We are being cautious
and doing all we can internally
to manage our delinquent port-
folio. It continues to deterio-
rate, even though the pace of
deterioration has slowed. Until
we see some positive trends,
we’re going to be cautious and
conservative.”

While some borrowers had
“over-extended” themselves,
the FINCO managing director
acknowledged that much of the
non-performing loan deterio-
ration had resulted from the
general economic environment,
as clients who had been made
redundant or seen a reduction
in their incomes were simply
unable to repay their loan
obligations.

“T can’t stress that enough,”
Ms McCartney said of how the
general economic malaise was
impacting FINCO’s perfor-
mance. “We are optimistic that
once the economy turns around
and employment levels start to
improve, we will see some
improvement in the non-per-
forming loan book.

“It depends on whether this
economy really starts to turn
around. There are a lot of
things happening in terms of
new investment - Baha Mar,
the new airport. Hopefully, we
will have some more to inject
life into this economy and ben-
efit us. But until people get
back to work and are able to
pay their bills, we won’t see
much of a change.

“Once things start to reverse,
we will be in a much better
position, because we will be
able to reverse those provisions
back into the net income line.”

Reiterating the message she
delivered to shareholders when

FEB 28 2un

they contacted her with con-
cerns over FINCO’s current
financial performance, Ms
McCartney told Tribune Busi-
ness: “You can see it’s a direct
result of the non-performing
loans.

“Tf you look at our efficiency
ratio, loan growth and keeping
expenses flat, you can see we
run an efficient operation. It’s
tied to provisioning and non-
performing loans.”

Ms McCartney told this
newspaper that FINCO’s effi-
ciency ratio was in the 36-40
per cent range, and said the fact
that it was purely a (largely res-
idential) mortgage lender had
“sort of magnified our situa-
tion”.

Mortgages

Mortgages have been the
loan segment hardest hit in the
recession, and FINCO has no
other product on which to fall
back unlike rival commercial
banks, but Ms McCartney
acknowledged this cut both
ways, given that its loans were
largely secured on the under-
lying real estate.

“We are in a very good posi-
tion because of the security of
the real estate,” she told Tri-
bune Business. “We’re holding
it. If you look at every other
line in the figures, you will see
we are in pretty good shape.”

The change in loan loss pro-
visioning reduced FINCO’s
credit loss provisions by $8.9
million $8.9 million during its
2010 financial year. It reduced
the allowance for credit (loan)
losses from the 40 per cent of
non-accrual loan threshold used
in 2009 to 30 per cent last year.

This move, following a Board

SUPREME COURT |

COMMON WEALTH OF THE a

2010

and management review of
FINCO's provisioning policy,
which assessed factors such as
the quality of security held over
its mortgage portfolio and
recovery rates, resulted in a
considerable boost to the mort-
gage lender's 2010 financial
results.

"This review resulted in the

Corporation [FINCO] reduc-
ing its provisioning policy ratio
to 30 per cent of non-accrual
loans, and a reduction of $8.9
million in the amount charged
for provision of credit losses,"
the financial statements, audit-
ed by Deloitte & Touche, stat-
ed.

"While current provisions are

considered conservative, the
Corporation will continue to
review its provisioning policy
and methodology to ensure that
levels remain appropriate and
conservative.”

The $8.9 million reduction in
FINCO's loan loss provisions
went straight back into the
income statement, and were a
key factor behind the lender's
dramatically improved perfor-
mance in 2010 compared to the
previous year.

In order to strengthen our team in Nassau, we have an
employment opportunity for a

Senior Officer, Banking Operations

Responsibilities will include :

Set up & implementation of a risk framework,

in accordance with Basel Il & group policy requirements
Administration and accounting of different types of funds
Administration of a ‘Lombard’ credit portfolio
Organisation and management of an Operations

department

Liaison with Group head office for implementation of new

projects

Minimum requirements :

Bachelor’s Degree in Accounting or Finance
CPA, CA or equivalent professional certification

Fluency in French, both written and oral

Proven track record of minimum five years in both risk
supervision and fund administration
Ability to work with minimum supervision

Computer literacy with track record in project management
Must possess a high level of integrity and professionalism
Ten years of professional experience

The ideal candidate must possess strong analytical skills, and have
an extensive knowledge of IFRS and Basel II banking regulations.

Salary is commensurate with experience and qualifications.

Interested and qualified persons may submit their resume no later
than March 23rd 2011 to:

C/O Da 101431
P.O.Box N3207

IN THE SUPREME COURT CLEfqav Mo; 163]

- a SASS AL, BAHAMAS
Common Law & Equity Diviaion == — —.——————-

IN THE MATTER of the Quieting Titles Act, 1959

ALL THAT pisces parcel of tract of Land totalling 11.27
acres situate om Stocking Island near the Settlement of
Grecege Town on the bland of Great Exoma one of the
lalends. of the Commonwealth of The Bahamas.

AMT

IN THE MATTER OF the Pelitkm of Low Marshall
and irene Strachan

AMIE MIRED) BOT E
THE PETITION of Lois Marshall and [rene Strachan im respect of:
“ALL THAT tract of land siteate on Stocking Island near Great
Exuma boemded Neethesstwardy by Crown Land separating it
from the sea Southesstwardly by vaca Crown Land aad land
gramted Amthony Forbes Woestwardiy and Sowthwestwandiy by
Crven Land aed Morthwestwardly by land surveyed to Henry
Evans.”
Lots Flarshall and Irene Strachan claim te be the owners of the unencambered fee dimple estate in
pseasion of the said land and have made application to the Supreme Coert of the
Commenwealth of The Bahamas ender Section Three (4) of the Chadeting Titles Act, 1999 to hove
their title bo the said land investigated and the mature and extent thereof determined and declared
in a Certificate of Tithe to be granted by the Court in acecedance with the provisions of the saad
Act.
Copies of the Petition amd the Plan of the said land may be inapected during normal office hours
in the following places:
|. The Regisery of the Supreme Court, East Sereet Noeth in the City of Massau,
Bahamas, tee:
The Chambers. of Lockhart & Oo, 835 Buen Retirg Road, off Shirley Street, Massa,
Bahamas; and,
NOTICE is hereby given that any person having dower or right to dower or an Adwerse Claim oe
a claim mot recognized m the Petttion shall on of before the expiration of Thirty (0) days after
the final publscation of these peesemcs, file in the Supreme Court and serve on the Petitioners or
the undersigned a Statement of his claim in the prescribed foom verified by an affidarit te be filed
Cherewith.
Failure of any seach person to file and serve a Stasement of bis Claim on or belore the
expiration of Thirty (30) days after the final publication of these presents will operate as a bar io

such claim.

Dated the 28% day of February A Th 311

LoellaAt Cy
LOCKHART & Co *
Chambers

434 Buen Retiro Road
cdf Shirley Street
Nassau, The Bahamas

Adomeys for the Petitioners



Nassau, Bahamas.

J

BAHAMAS FIRST

FIRST IM IRSWURANCE. TODAY. TOMORROW

Career opportunity for an ambitious career oriented individual

Motor Engineer

Major Responsibilities:

¢ Conduct inspections of damaged vehicles and compile and
review repair estimates
Conduct pre and post-inspections of vehicles at BFG
Inspection Centre to determine market value, road
worthiness and acceptability of risk
Conduct on-scene accident investigations, take statements
and measurements
Monitor and control repair work with Approved Garages
Prepare reports and input data in the system
Provide customer service
Travel to the Family Islands

Qualifications:

¢ High School Diploma

¢ 5 B.C.C.S.E.’s or equivalent with C passes or above,
including English and Mathematics

¢ Minimum 2 years experience in auto mechanics

¢ Experience in Automobile and Mechanical bodywork,
Traffic Collision Investigation, Repair, Refinishing,
Electrical and Engine Overhauling

¢ Strong customer service, communication and interpersonal
skills

¢ Proficiency in Microsoft Office Applications

Compensation commensurate with relevant experience and
qualifications. On the job training will be provided.

The Bahamas First Group is the largest property and casualty
insurance company in the Bahamas and has an A- (Excellent) Rating
from A. M. Best, reflecting the company’s financial stability and
sound risk management practices.

Please apply before March 18", 2011 to:
Group HR & Training Manager
Bahamas First Corporate Services
P.O. Box SS - 6268
Nassau, Bahamas

Or email to:
careers@ bahamasfirst.com


PAGE 6B, MONDAY, MARCH 14, 2011

ee -) > \ =;
Gov't urged: Maniiate 20% Bahamian participation



FROM page 1B

because they have the financ-
ing. At some point, we’re going
to have to reserve some com-
ponent for Bahamian partici-
pation. Whether it’s as part of a
Bahamian joint venture, I don’t

Expressing hope that the

Government stipulated some
form of Bahamian involvement
in the MoU with China Har-
bour Engineering Company,
Mr Wrinkle said the BCA and
wider construction industry
would like the model achieved

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No. 45 of 2000)
LIQUIDATOR’S STATEMENT
PURSUANT TO SECTION 138(6) OF THE
INTERNATIONAL BUSINESS COMPANITES ACT

I, Ronald H. Knowles, Liquidator of DOREE LIMITED
HEREBY CERTIFY that the winding up and dissolution
of DOREE LIMITED has been completed in accordance
with the Articles of Dissolution.

over the $2.6 billion Baha Mar
project, where some $400 mil-
lion or 20 per cent of the total
construction work, was
reserved for Bahamian con-
tractors. “If we can get 20 per
cent of the work they will be
doing, that'll be good,” Mr
Wrinkle told Tribune Business
of China Harbour Engineering
Company. “That’s in keeping
with the amount we have with
that [Baha Mar] foreign direct
investment project.

“We hope the Prime Minis-
ter has sought to include some
form of Bahamian participa-
tion. He’s aware of the prob-
lem, and is doing his best to
make sure we get part of it. Mr
Ingraham’s a shrewd negotia-
tor, and I have every confi-
dence that he will do his best
for us. What that is, I don’t
know.”

And the BCA president
added: “Certainly, islands like

readily available, we’d like to
ensure maximum Bahamian
participation.

has the same sentiments, and

prudence goes a long way.”

details were provided.

taken by China Harbour Engi-

embankments.

THE TRIBUNE

Biofuel facility’s

“[’m sure the Government r Ss ects C are
we always have the ability to Pp Pp
say ‘no’ to their offer. A little } 5

not rosy’: Wells

Neko Grant, minister of
works, said at the MoU sign- }
ing that China Harbour Engi- }
neering Company would part- i
ner with Bahamian contractors }

FROM page 1B

At that time, Mr Wells said he expected the issue of financing for

? the biofuel plant, which would convert raw organic material into
opie Maid tras ea ae ? fuel which could be used to power vehi-
The projects being under- ? cles, would have to be resolved “within the
? next six months” or the group would lose its
neering Company include } purchase option on the facility and the
designing and building the : money they had invested in it.
North Abaco Port and by-pass }

road: a bridge between Little ? with potential stakeholders about where

and Great Abaco; a port and } the necessary biomass to make the fuel
oo rae feasibility of growing some of it in the

Bridge and approaching } Bahamas.

Last week, Mr Wells said talks continue

could be sourced for from, including the



TENNYSON WELLS

Meanwhile, in terms of export markets,

New port facilities will be ? given that there is not enough demand in

? the Bahamas for the quantity of fuel set to be produced at the plant,
eu ae ey a ? Mr Wells admitted there has been “no headway” made in this

Abaco and at the Navy Dock i

area.

: : However, he said the investor group “‘is still hoping to do it”, and
ee a ? the owners of the plant have reed that they will nee lose their pur-
? chase option just yet, despite the deadline having elapsed.

? “They haven’t put a limit on it. They have said if you can put
? together the package then we will deal with you,” said Mr Wells.

Dated the 9th day of March 2011 Bea yi ee mp lovaeat

is high and the pool of labour is = ma



Ronald H. Knowles
Liquidator

COMMONWEALTH OF THE BAHAMAS ~— 2008
IN THE SUPREME COURT

COMMON LAW AND EQUITY DIVISION
CLE/GEN/01311

BETWEEN

BANK OF THE BAHAMAS LIMITED
Plaintiff
AND

EDWIN BASTIAN
AND

PATRICK FERGUSON
Defendants

NOTICE OF ADJOURNED HEARING

TAKE NOTICE that the Summons filed
on the 9" day of March, A.D., 2009 and set down
to be heard on Monday the 30° day of July, A.D.,
2009 at 11:30 o’clock in the morning will now be
heard before a Deputy Registrar, Marilyn Meeres
the Supreme Court, Ansbacher Building, Bank
Lane, Nassau, The Bahamas on Monday the 4*
day of April, A.D., 2011 at 12:30 o’clock in the
afternoon.

Dated this 14‘ day of September, A.D., 2010

REGISTRAR

This Notice was taken out by Messrs. Gibson,
Rigby & Co., Chambers, KI-Malex House,
Dowdeswell Street, Nassau, The Bahamas,
Attorneys for the Plaintiff.

COMMONWEALTH OF THE BAHAMAS 2007
IN THE SUPREME COURT

COMMON LAW AND EQUITY DIVISION CLE/GEN/00150

BETWEEN

BANK OF THE BAHAMAS LIMITED

Plaintiff
AND

AKETHA ADASSA ADDERLEY

Defendant

NOTICE OF ADJOURNED HEARING

TAKE NOTICE that the Order for
Examination filed on the 28" day of October,
A.D., 2009 and set down to be heard on
Thursday the 11" day of February, A.D., 2010
at 11:30 o’clock in the morning will now be
heard before a Deputy Registrar, Marilyn
Meeres of the Supreme Court, Ansbacher
Building, Bank Lane, Nassau, The Bahamas
on Thursday the 24' day of March, A.D.,
2011 at 2:30 o’clock in the afternoon.

Dated this 10 day of September, A.D., 2010

REGISTRAR

This Notice was taken out by Messrs. Gibson, Rigby
& Co., Chambers, Kl-Malex House, Dowdeswell
Street, Nassau, The Bahamas, Attorneys for the
Plaintiff.



NOTICE

NOTICE is hereby given that ROMANDO JEAN of
MALIBOO REEF #4, FREEPORT, GRAND BAHAMA,
BAHAMAS is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 14th day of
MARCH, 2011 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

IN THE ESTATE OF Frank Kucera late
of White Harrington, Quebec, Canada.

NOTICE is hereby given that all persons
having any claim or demand against
the above Estate are required to send
the same duly certified in writing to the
undersigned on or before the 14 day of
April A.D., 2011, after which date the
Executors will proceed to distribute the
assets having regard only to the claims of
which they shall then have had notice.

AND NOTICE is hereby given that all
persons indebted to the said Estate of
Frank Kucera are requested to make
full settlement on or before the date
hereinbefore mentioned.

NADIA A. WRIGHT
Attorney for the Executors
Chancellors Chambers
P.O. Box N-4589

COMMONWEALTH OF THE BAHAMAS 2008
IN THE SUPREME COURT

COMMON LAW AND EQUITY DIVISION CLE/GEN/00443

BETWEEN
BANK OF THE BAHAMAS LIMITED

Plaintiff
AND

JACQUELINE JOHNSON
Defendant

SUMMONS

LET ALL PARTIES concerned attend
before Deputy Registrar, Marilyn Meeres, of
the Supreme Court, Supreme Court Building,
Bank Lane, Nassau, The Bahamas. on
Thursday the 12" day of May, A.D., 2011 at
12:30 o’clock in the afternoon for the hearing
of an application on the part of the Plaintiff
for an Order for leave to enter Judgment in
Default of Appearance pursuant to Order 73
of the Rules of the Supreme Court for the
amount claimed in the Statement of Claim with
interest, as therein claimed and costs.

TAKE NOTICE that a party intending
to oppose this application or to apply for a stay
of execution should send to the opposition
party or its Attorneys to reach them not less
than three (3) days before the date above
mentioned a copy of any Affidavit intended to
be used.

Dated this 23° day of February, A.D., 2011

REGISTRAR

This Summons was taken out by Messers. Gibson,
Rigby & Co., Ki-Malex House, Dowdeswell Street,
Nassau, The Bahamas, Attorneys for the Plaintiff.

COMMONWEALTH OF THE BAHAMAS 2000
IN THE SUPREME COURT
No. 35

Equity Side

BETWEEN

IN THE MATTER of all that piece parcel
or lot of land situate in the Eastern District
of the Island of New Providence one of the
Islands of the Commonwealth of The Bahamas
comprising Seven Thousand and Fifty-
eight (7,058) square feet and being bounded
NORTHWARDLY by Prince Charles
Highway running thereon Sixty eight and Fifty-
six hundredths (68.56) feet SOUTHWARDLY
by Pine Barren Road running thereon Sixty-
One and Seventeen hundredths (61.17) feet
EASTWARDLY by land said now or formerly
to be the property of Lorenzo Brice running
thereon Ninety-eight and One hundredths
(98.01) feet and WESTWARDLY by land
now or formerly the property of Iva Robins
and running thereon One hundred and Twenty
eight and Forty-four hundredths (128.44) feet.

AND

IN THE MATTER of The Quieting Title Act 1959
Chapter 357 Statute Law of The Bahamas (the Ac/).

AND

IN THE MATTER of The Petition of
Donald W. Newton

AMENDED NOTICE OF PETITION

Take notice that by Amended Petition filed in the Supreme
Court of The Bahamas on December 302010 DONALD
NEWTON of Blue Hill Estates, New Providence, The
Bahamas (“the Petitioner”) claims to be the owner in
fee simple in possession of the above captioned land and
has applied to the Supreme Court of The Bahamas under
section 3 of the Act, to have his title to the captioned land
investigated and the nature and extent thereof determined
and declared in a Certificate of Title to be granted by the
Court in accordance with the provisions of the Act. A
Recorded Plan of the said land may be inspected during
normal office hours at The Registry of The Supreme Court,
Ansbacher House, East Street, Nassau, The Bahamas; and
the Chambers of Cedric L. Parker & Co. No. 9 Rusty
Bethel Drive, Nassau, The Bahamas.

TAKE NOTICE that any person having dower or right
of dower or any adverse claim or a claim not recognized
in the Amended Petition must on or before the expiry of
Thirty (30) days following final publication of this Notice
file in the Supreme Court and serve on the Petitioner and
the undersigned a Statement of his Claim in the prescribed
form, verified by an Affidavit to be filed therewith together
with a plan of the area claimed and an abstract of title to
the said area claimed by him. Failure of any such person
to file and serve a Statement of his Claim on or before the
thirtieth (30) day following final publication of this Notice
will operate as a bar to such claim.

AND TAKE FURTHER NOTICE that the Pre-Trial
Review will be held before the Honourable Mr. Justice
Adderley in Chambers on Thursday the 5” day of May
A.D. 2011; and the Trial herein will take place before the
Honourable Mr. Justice Adderley on Thursday the 2"4
day of June A.D. 2011.

CEDRIC L. PARKER & CO.
Chambers
Neil’s Court
No. 9 Rusty Bethel Drive,
Nassau, The Bahamas
Attorneys for the Petitioner


THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 7B



BIG rival ‘not happy’ on cellular monopoly

FROM page 1B

Bahamas to “move on”.

“T just wish the day would
come when we can compete
in the mobile area,” Mr Hut-
ton-Ashkenny told Tribune
Business. “That’s the one area
that remains a concern to us,
but there is nothing we can
do to change that.

“The only good coming out
of it as far as mobile is con-
cerned is the clock is ticking
now. The end is in sight,
whereas the day before yes-
terday, there was no end in
sight.”

To preserve BTC’s value
and encourage CWC to pay
the $210 million purchase
price, as well as minimise the
‘voluntary redundancy’ exer-
cise that will take place over
the next year at BTC, the
Government is moving to
amend the Communications
Act and regulations to extend
BTC’s post-privatisation cel-
lular monopoly from two to
three years.

This means that the bidding
process for a _ second
Bahamas-based cellular

licence will only start in April
2014. Given that it will possi-
bly take one year to award
the licence, and another year
for the winner to get their
infrastructure ready, it is pos-
sible cellular competition may
only become a reality in 2016.
And the third cellular licence
will only be offered five years
after privatisation is complet-
ed.

“We’re obviously not hap-
py that the mobile monopoly
is going to remain in place for
a number of years, but at least
there is an end to it once the
sale is closed,” Mr Hutton-
Ashkenny told Tribune Busi-
ness. “There is light at the end
of the tunnel, but the con-
sumer will have to have a lit-
tle bit of patience yet.”

Of the Utilities Regulation
& Competition Authority’s
(URCA) decision to approve
CWC’s acquisition of BTC,
Mr Hutton-Ashkenny said:
“[’m not in the slightest bit
surprised. It was a foregone

conclusion.

“Tt’s time to move on, and it
looks like we’ll be moving on
with CWC in control at BTC
and ourselves merged with
Cable Bahamas.”

The latter was itself not
happy with several details sur-
rounding the impending
CWC acquisition of BTC. Tri-
bune Business was able to
confirm that the BISX-listed
company, which is set to be a
privatised BTC’s leading com-
petitor in the local market,
was indeed the respondent to
the URCA consultation who
suggested that the privatisa-
tion by CWC would create “a
substantial lessening of com-
petition in several markets”,
as it meant the company’s
Caribbean business, LIME,
would not enter the Bahamas
as acompetitor to BTC.

Noting BTC’s dominant
share of the fixed-landline
and cellular markets, where
according to URCA the state-
owned incumbent holds a 98

IN THE ESTATE OF John Egbert Tertullien late of No. 5 Blue Hill
Estates, New Providence, Bahamas.

NOTICE is hereby given that all persons having any claim or demand
against the above Estate are required to send the same duly certified in
writing to the undersigned on or before the 10" day of April A.D., 2011,
after which date the Executors will proceed to distribute the assets having
regard only to the claims of which they shall then have had notice.

AND NOTICE is hereby given that all persons indebted to the said Estate
of John Egbert Tertullien are requested to make full settlement on or
before the date hereinbefore mentioned.

NADIA A. WRIGHT

Attorney for the Executors
Chancellors Chambers

P.O. Box N-4589
Nassau, Bahamas

‘ The Bahamas

per cent and 100 per cent
market share, respectively,
Cable Bahamas argued that
the extension of BTC’s post-
privatisation cellular monop-
oly from two to three (likely
four) years, had effectively
extended the company’s abil-
ity to cross-subsidise its other
businesses with profits from
the cellular side.

“The transaction will cause
a lessening of competition in
the fixed markets, as it
extends the licensee’s ability
to leverage its mobile monop-














oly to impede the growth of
competition in the fixed voice,
broadband, domestic long dis-
tance and international long
distance market,” Cable
Bahamas said.

“The transaction will cause
a lessening of competition in
the international services mar-
kets because [CWC] will have
an incentive and the ability to
favour [BTC] over other
operators licensed to provide
international services to cus-
tomers in the Bahamas.”

And Cable Bahamas also

expressed concern that CWC,
with its ‘One Caribbean’
operating model, “would be
in a position to cross-sub-
sidise” BTC by providing
operational, management and
administrative services to it
at lower prices, enabling the
privatised entity to “engage
in anti-competitive cost shift-
ing”.

“These practices may not
be addressed by, or be
detectable under, URCA’s
current cost accounting and
accounting separation rules,”
it added. URCA, though, dis-
missed all these arguments.

A Tribune affiliate holds a
small, passive stake in SRG.

The Bridge Authority
NOTICE

All Paradise Island Employers & Employees, all Paradise Island Residents, all
Transportation Companies and the General Public are hereby notified that The
Bridge Authority will be undertaking inspection works to the NEW Paradise Istand
Bridge with effect from the Monday March 21" to Friday April 1 2011. This exercise
will affact the Eastem side of the westem Bridge and Lane 4 of the Toll Plaza.



The inspection work will be conducted during off-peak traffic times between the
hours of 10:00am - 3:00pm, Monday to Friday. Work may resume after 3:30pm or
when traffic reduces, if needed, in onder to ensure that work is completed on

schedule,

Individuals, who access Paradise Island via Transponders in Lane 4, can now utilize
their Transponders in any one of the other lanes.

The Bridge Authority apologizes for any inconvenience caused, and assures if
Customers and Stakeholders, that all efforts will be made to have the inspection
works conduded aS quickly as possible,

Billy Scavella
General! Manager
The Bridge Authonty

_ Maritime Authority

Assistant Director (Seafarers and Manning)

Applications are invited for the position of Assistant Director in
the Seafarers and Manning Department of the BMA’s London
office. The Seafarers and Manning Department is responsible for
all aspects related to the training, certification and approval of
seafarers and STCW courses, and the assessment of the manning
and ILO MLC 2006 provisions for The Bahamas flagged fleet.

The successful candidate will be employed at a supervisory level
with duties including:
*Representing the Authority at meetings/forum on matters
relating to seafarers training and manning
*Oversight of the BMA processes and development of national
policies relating to seafarers, STCW course approval, safe
manning and ILO MLC 2006
*Provision of training and manning guidance/assistance to
Owners, Managers and the Authority’s other stakeholders
«Audit activities

Candidates for the post should have a STCW management level
certificate or university degree (in a maritime field) with practical
and theoretical knowledge of STCW Convention/Code and the
international principles on manning of ships. The candidate
should also be a qualified ISM or ISO auditor with experience
in conducting audits. Applicants with other relevant experience/
expertise and applicants qualified in the field of maritime training/
education will also be considered.

Applicants are invited to write, enclosing a copy of their C/V,
and details of their current salary to: Director, The Bahamas
Maritime Authority, 120 Old Broad Street, London EC2N 1AR,

U K, or by email to: dhutchinson@bahamasmaritime.com

Closing date for applications is 18 March 2011.
All applications will be acknowledged.

The (sovemmnent of The Bahamas has received financing under the Presidenc’s Emergency
Plan for AIDS Relief (PEPEAR) to manage HIV ADDS Sorategic Intonation, Laborarory
Testing aod Prevention Programs,

The Ministry of Health invites application to fill positions of Serategic Laboratory
Strengthening Manager and Information Management Business Analyst,

POSTS POR IMMEDIATE HIRING
STRATEGIC LABORATORY STRENGTHENING MANAGER

General Function

The succeseful candidate will be responsible for the provision of laboratery quality assurance
advice and assistance te the various laboratones in country, to support surveillance for HIV’,
STL, TH, C31, and emerping diseases. The: candidate wall establish and imi pbemient (A
standards and operating procedures, inchading specimen and inventory managenerne,

Wark closely with the PEPFAR Laboratory Implementing Parmer (APENET) to carry out
laboratory gap analysis, resolve non-conformances, assist in the emplementation of the ISO
15789 Quality Management System (M13) and accreditation of the Integrared Public Health
Laboratory

Education and Experience

a) Masters or Deectoral depree in hbortory sciences, bixmedcical research, or related held:
b) Experience in clinical laboranory practice;

C) Rowledge of ineermacional laborarory standards; focus on HIV, TE and STT diagnosis
and clinical menitering.

loterestad persons are Invited to swhnnuta cover letter, cument coumiculum vitae and phono in
Word of PDF formar to paulabowlegiaibahamas.povlbs. Applications must be received by
Spm on Thuraday, March 17, 2001

General Purpose

‘The Business Analyst is responsible for supporting information management initiatives
across the Ministry of Healeh (MOH), with a focus on developang custom reports to enable
HIV ATS managemen.

The Business Analyst will document clinical information ayatern requirements for the
National AIDS Program, support the onplementation of systems across clinics, and develop
and implement business and clinical reports to enable decision making.

Education and Experience

a) Bachelors degree in Public Health Adminiseration, Information Management, or related
field;

b) Three to five (3 to 3) pears of experience in a related position, preferably in the health
field;

¢) Softeare application expertise in clinical information syspema, sprcadshects, and databases;
a) (Certification, experience in Project Management iS an asset

Salary will be commensurate with degree and experience and inchades standard project
benefice,

Interested persons are invited to submut a cover letter, curment curricuhum vitae and phobo in
Word or POP foomar to paulabowlegi@ibahamas,povlbs. Applications must be recerved by
Spm on Thursday, March 17, 2011


PAGE 8B, MONDAY, MARCH 14, 2011

THE TRIBUNE



BUSINESS
©) RoyalFidelity Market Wreipe (crimson rm

BOND MARKET - TRADING STATISTICS

BISX SYMBOL
FBB13

DESCRIPTION

FBB Series 0
C Notes Due 2013

FBB15 FBB Series

D Notes Due 2015

FBB17 FBB Series

A Notes Due 2017

FBB22 FBB Series

B Notes Due 2022

NOTICE

NOTICE is hereby given that JANET BEVERLY MILLER
of P.O. BOX 23331, FRESH CREEK, ANDROS,
BAHAMAS is applying to the Minister responsible for Nationality
and Citizenship, for registration/naturalization as a citizen of
The Bahamas, and that any person who knows any reason why
registration/naturalization should not be granted, should send a
written and signed statement of the facts within twenty-eight days
from the 7" day of March, 2011 to the Minister responsible for
nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

COMMONWEALTH OF THE BAHAMAS
IN THE SUPREME COURT
Equity Side

2009/CLE/qui/980

IN THE MATTER of ALL THAT tract of land
comprising of Nine Hundred and Seventy Eight
and Fifty-five Hundredths (978.55) acres being the
Archibald Taylor Estate and more commonly known
as Pemberton Estates situate approximately 1.5 miles
SOUTHWEST of the Settlement of Clarence Town
in the vicinity of Galloway Landing on the Island of
Long Island one of the Islands of the Commonwealth
of The Bahamas.
AND

IN THE MATTER of the Quieting Titles Act 1959
(Chapter 393 of the 2000 Revised Edition of the
Statute Laws of The Bahamas)

AND

IN THE MATTER of the Petition of
Ellison Kenneth Minnis

NOTICE

Pursuant to the Order of the Supreme Court filed the
23" day of February, A.D. 2011.

The Petition of Ellison Kenneth Minnis,
of the Southern District of the Island of New
Providence, one of the Islands of the Commonwealth
of The Bahamas, in respect of:-

ALLTHAT tract of land comprising of Nine Hundred
and Seventy Eight and Hifty-five Hundredths
(978.55) acres being the Archibald Taylor Estate
and more commonly known as Pemberton Estates
situate approximately 1.5 miles SOUTHWEST of
the Settlement of Clarence Town in the vicinity of
Galloway Landing on the Island of Long Island
one of the Islands of the Commonwealth of The
Bahamas.

Ellison Kenneth Minnis, claims to be the owner of
the land the subject of this Petition hereinbefore
described in fee simple free from encumbrances.

And the Petitioner has made application to the
Supreme Court of the aforesaid Commonwealth of
The Bahamas under Section 3 of the Quieting Title
Act (Chapter 393), to have her title to the said tract
of land investigated and the nature and extent thereof
determined and declared in a Certificate of Title to
be granted in accordance with the provisions of the
said Act.

Notice is hereby given that all persons
having Dower or a right of Dower or an Adverse
Claim or a Claim not recognized in the Petition shall
on or before expiration of Thirty (30) days after the
publication of these presents file in the Supreme
Court and serve on the Petitioner or the undersigned
a statement of his claim in the prescribed form
verified by an affidavit to be filed therewith.

Failure of any such person to file and serve
a Statement of his claim on or before the expiration
of Thirty G0) days after the publication of these
presents shall operate as a bar to such claims.

Copies of the filed plan may be inspected at:
The Registry of the Supreme Court;

The Chambers of ALLEN, ALLEN & CO., the
Attorneys for the Petitioner, whose address for
service is Allen House, Dowdeswell

Street, Nassau, N. P. The Bahamas.

Attomeys for the Petitioner

VOLUME

















PAR VALUE
$1,000

$1,000

$1,000

$1,000



ED FIELDS

FROM page 1B

to invite him to take the chair-
manship once the IPO is com-
pleted.

News of Mr Francis’s
impending appointment also
came out during presentations
given by Commonwealth Brew-
ery to leading institutional
investors, regarding the IPO,
last week, Tribune Business
understands. And this newspa-
per can also confirm that the
other Bahamian set to be
appointed to Commonwealth



& MUSEUMS CORPORATION

Director Required

The Antiquities, Monuments and Museum Board of The National Museum of The
Bahamas, a statutory body (wwww.ammecbahamas.com) established in 1998 is
seeking a Director to lead the institution.

The Director will be responsible for the fulfillment of the institution’s Mission
Statement. This will include:

* Refining and implementing a Strategic Plan jointly developed with the Board

* Financial planning and management, and the tactical generation of revenue,

* General administration and development of the staff.

Requirements:
* Master's Degree or equivalent in Business Administration.
* 5-7 years’ experience in Corporate Management.
* Experience in personnel management, financial management and
fundraising.
* Interest in Heritage Studies would be an asset

Skills:

* Excellent verbal, written, and people skills.
* Highly organized self-starter.

Salary:

* Commensurate with experience

Applications should be delivered to the:

Chairman

Antiquities, Monuments and Muséum Corporation

P.O.Box EE-15082
Shirley Street & Collins Avenue
Nassau Bahamas.

Or Fax (242) 326-2568

and should be received at the office on or before 1 April 2011. Telephone

contacts are:
(242-326-2566)
(242-323-1928)

ROYALS FIDELITY

Morty at Work

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 10 MARCH 2011

Francis to he Brewery chair

Brewery’s Board is Ed Fields,
Kerzner International
(Bahamas) head of public rela-
tions.

He and Mr Francis, who will
effectively act as non-executive
directors and look after the
interests of Bahamian investors
who acquire the collective 25
per cent stake offered in the
IPO, will be joined on the Com-
monwealth Brewery Board
post-offering by LeRoy Archer,
managing director, and three
other representatives of 75 per
cent majority shareholder,
Heineken BV.

While the Board will be at
least six strong post-IPO, its
numbers could increase to sev-
en, as the Government has the
right to appoint one member if
it is called upon to act as ‘stand-
by purchaser’ in the event that
the IPO is not fully subscribed.

Mtr Francis, who played a key
role on BTC’s privatisation
committee as its vice-chairman,
declined to comment when con-
tacted by Tribune Business, but
a source familiar with develop-
ments said: “The discussions he
had with them went very well,
and the feedback he got from a
number of sources close to the
people [Commonwealth] is that
they intend to invite him to join
the Board, and possibly as
chairman as well.”

Michael Anderson, RoyalFi-
delity Merchant Bank & Trust’s
president, who is acting as the
offering’s placement agent, con-
firmed to Tribune Business the
appointments of both Mr Fran-
cis as chairman and Mr Fields
as a director.

“At the end of the offering,
both of those people will be
appointed,” he confirmed,
explaining that Commonwealth
Brewery had decided not to
appoint them beforehand
because then they would have
been required to sign off on
every aspect of the offering
memorandum, something that
needed them to become famil-
iar with every aspect of the
company’s financials and oper-
ations.

Mr Anderson, meanwhile,
confirmed that the Common-
wealth Brewery IPO was set to
launch on March 21, 2011, the
Securities Commission having
given approvals that allowed
the prospectus to be sent to the
printers last week. The remain-
ing issues to be resolved just
require certain documents to
be sent to the capital markets
regulator.

Apart from the Internet, Mr
Anderson said there would be
23 distribution points for the
prospectus via all RoyalFideli-
ty, Fidelity Bank (Bahamas),
Royal Bank and FINCO
branches. In addition, all Com-
monwealth Brewery outlets will
carry smart cards and signage
with information on where
copies can be found.

“We’ve had some great
responses so far,” Mr Ander-
son said of investor interest in
the $62.5 million IPO. “I just
don’t know what it means. I
think it’s getting some atten-
tion. Pre-offering we’ve done
TV, radio and newspapers, and
we’re trying to get out early to
make more people aware.
We’ve done everything we
could.”

“WEG
cz

ITAL MARKETS
BROKERAGE & ADVISORY SERVICES

BISX ALL SHARE INDEX: CLOSE 1,456.81 | CHG 0.35 | %CHG 0.02 | YTD -42.70 | YTD % -2.85

FINDEX: YEAR END 2008 -12.31%

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

S2wk-Low
0.95
8.05
4.40
4y
2.70
1.96
9.44
2.35
5.80
1.80
1.40
5.25.
5.88
PE
4.57
1.00
5.50
9.80
10.00
S2wk-Hi S2wk-Low
99.46
100.00
100.00
100.00
100.00

S2wkovow

1.4076
2.8300
1.5141
2.8522.
13.0484
101.6693
99.4177
1.0000
1.0000
1.0000

Securit_y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas

Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings

Commonwealth Bank ($1)
Consolidated Water BDRs

Doctor's Hospital
Famguard
Finco

FirstCaribbean Bank

Focol (S)

Focol Class B Preference

ICD Utilities
J. S. Johnson

Premier Real Estate

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

Bahamas Note 6.95 (2029)

Fidelity Bank Note 17 (Series A) +

Fidelity Bank Note 22 (Series B) +

Fidelity Bank Note 13 (Series C) +

Fidelity Bank Note 15 (Series D) +

Symbol

Previous Close Today's Close
1.09, 4.505
10.63 10.63
4.50 4.40
0.18 0.18
2.70 2.70
| 2 41.86
10.214 10.21
2.40
6.80
2.16
1.40
ey
5.86
B39
5.40
1.00

Change Daily Vol.
0.00
0.00
-0.10
0.00
0.00
0.00
0.00
0.00
0.00
-0.09
0.00
0.00
0.00
0.00
0.07
0.00
0.00
0.00
0.00

2.40
6.80
2.07
1.40
6.25
5.88
B.38
5.47
1.00

7.40

3.82
10.00

7.40
9.82
10.00

Last Sale
99.46
100,00
100,00

Symbol
BAH29
FBB17
FBB22
PBETS 100.00
FBB15 100.00 le

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

Bid & Ask & Last Paice

Change
0.00.
0.00.
0.00.

Daily Vol.

Bahamas Supermarkets N/A NYA

RND Holdings

ABDAB
RND Holdings

Fund Name
CPAL Bond Fund
CPFAL MSI Preferred Fund
CPFAL Money Market Fund
Royal Fidelity Bahamas G & | Fund
Royal Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
FSG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

0.35 0.40 0.55
CFAL Securities Ltd. (OQver-The-Counter Securities)
30.13 31.59 29.00
0.45 0.55 0.55
BISX Listed Mutual Funds
NAV YTD% Last 12 Months %
1.5179 5.51% 6.90%
2.9486
1.5837
2.7049
13.4392
114.3684
106.5528
1.1465
1.1185
1.1491

1.45%
4.59%
-15.54%
0.22%:
12.49%
7.18%

0.04%
0.61%
-0.56%
0.61%
9.98%
4.75%
5.20%
4.73%
5.35%

5.20%
4.73%
5.35%

Daily Wo.

NAV 3MTH
1.498004
2.918256
1.564030

109.392860
100.779540

ERPS

7%

7%

6.95%

Prime + 1.75%

Prime + 1.75%

EPS $
-2.945
0.001

S$ Div $ Pe
0.123
0.013
0.153

-O.877

0.168
0.016
1.050
0.781
0.488
0.111
0.107
O.357
0.682
0.494
0.452
0.000
0.012
0.859
1.207
Interest Maturity
20 November 2029
19 October 2017
19 October 2022
30 May 2013
29 May 2015
Div & PFE Yield
0.000 N/M
0.000 256.6

4.540
0.002

0.000
0.000

9,03.
261.80:

NAV GMTH
1.475244
2.910084
1.545071

NAV Date
30-Nov-10
28-Feb-11
11-Feb-11
31-Jan-11
31-Jan-11
30-Jun-10
30-Sep-10
31-Dec-10
31-Dec-10
31-Dec-10

107.570619.
105.776543

9.1005 Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 1
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 2
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 3

Royal Fidelity Int'l Fund - Equities Sub Fund

Dated this 22â„¢ day of February, A.D., 2011.

9.7950 4.85% 5.45% 30-Nov-10
10.0000
10.6417 -1.20% 0.50% 30-Nov-10

9.1708

ALLEN, ALLEN & CO.,
Chambers,

Allen House,
Dowdeswell Street,
Nassau, Bahamas.
Attorneys for the
Petitioner

1.27%
8.85%

31-Jan-11
31-Jan-11

10.1266 1.27%
8.4510 0.72%
MARKET TERMS
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity
ASk $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - A company's reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

4.8105

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price trom day to day
Daily Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
$1) - 3-for-1 Stock Split - Effective Date 7/11/2007
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525




THE TRIBUNE

MONDAY, MARCH 14, 2011, PAGE 9B



INSIGHT

Re-examining our failing education system: Part 2

FROM page 12B

system itself.

He decided the best way
to proceed was to start with
something small, outside the
system, and let his achieve-
ments drive demand for the
model to be replicated — a
strategy which has seen his
project grow from a single
block to a hundred-block
area. It now embraces 10,000
students.

But Dr Glaze feels focus-
ing only on certain schools is
a mistake, as it sends the
wrong message to students.

She said that while the
worst performing schools
undoubtedly need special
attention, no one should feel
left out of a reform process —
not even the best performing
schools.

She noted that her original
mandate covered 4,000 pri-
mary schools — far more than
we have in the Bahamas. "It’s
a big system, and to be able
to organise people in such a
way that they were helping
all the schools was not easy,
but we did it," she said.

Of course, Dr Glaze's per-
spective is very different from
that of lone ranger Geoffrey
Canada. Far from being an
outcast, she was embraced by
the system; hired to trans-
form it from within.

"Before 2002 when things
were really difficult,” she
explained, "the conservative
government of the time and
the teachers did not get
along. There were strikes,
there was a lot of bad feel-
ings, teachers were retiring
in droves."

Then, the new provincial
government under Premier
Dalton McGuinty came to
office riding a promise to
boost school performance by

working with teachers, prin-
cipals and the community.

Dr Glaze said: "The pre-
mier did a number of things,
one of the things he can-
vassed on was to reduce class
sizes, build capacity in all
areas, to focus on low per-
forming schools to see how
we would bring them up.
There is a philosophy of
‘excellence with equity’ —
while we raise the bar for all
students, we have to close the
gap.
"It is very important to
note that there was a strong
support for educators. He
came in with the notion that
he was going to improve per-
formance by supporting prin-
cipals and teachers. He was
going to build capacity. And
it was to my mind a very pos-
itive message that really res-
onated with the teachers."

According to Dr Glaze,
the Bahamas has a like-mind-
ed reformer in Minister of
Education, Desmond Ban-
nister.

She said: "I think Mr Ban-
nister is very committed and
he really wants to do well. I
really like him. The teachers
and principals that I met, I
think they want to do well.
There is a lot of hope and
optimism here."

Because it aims to change
the system from within, her
method would undoubtedly
be supported by our govern-
ment — which doesn't want
things to stay as they are, but
doesn't want to bring the
entire system crashing down
either.

After all, they are the ones
who run it. They employ the
teachers who work in it, who
all have a vote come election
time. They are the ones who
would have to face the
Bahamas Union of Teachers

if fundamental changes to the
profession were to be made
to the detriment of its mem-
bers.

But would it work here?

Has Dr Glaze's experience
in Canada prepared her for
the realities of a place like
the Bahamas? Can we, con-
sidering our deep-rooted
social problems, afford to dis-
pense with a hard-nosed,
scorched earth approach to
dealing with underperform-
ing teachers and parents?

She points out that as a
native Jamaican, she is well
aware of the challenges fac-
ing Caribbean students from
difficult backgrounds. And
believe it or not, she says, she
has encountered many of the
same challenges in Ontario.

"We have in Ontario a lot
of those similar problems —
single parent families and so
on — that I found in other
islands, like Jamaica and Bar-
bados. Its pervasive these
days.

"But if you target those
problem schools, it can be
done. I absolutely believe it
can work in the Bahamas if
the focus is on building
capacity. Good teaching is
what is going to save the day
here.

"There are a lot of good
things happening in the
Bahamas. I am amazed when
I meet with the principals,
the director, the superinten-
dents. You have a great sys-
tem, but it can be better, you
can still reach higher. You
are not starting from zero
here; I find the Bahamian
teachers and principals a very
special group of people, but
we can do better."

But are all Bahamian
teachers really like the hand-
picked group she interacted
with at the Ministry of Edu-

CFA SOCIETY OF THE BAHAMAS
MONTHLY SPEAKER LUNCHEON EVENT

TOPIC:

DATE:

TIME:

SPEAKER

RESERVATIONS:

“TECHNICAL ANALYSIS: THE BASICS”

Wednesday 16" March 2011

12:00 p.m. General Meeting
12:30 p.m. Speaker’s Address

Please arrive promptly!

Cagliari Room

Luciano’s of Nassau, East Bay Street

Barry Sine

Director of Research, Capstone

Members $35
Non-members $45

(Cheques payable to: CFA Society of The

Bahamas)

PRE-REGISTRATION REQUIRED by

Monday 14" March 2011

David Ramirez, CFA

dramirez(@pictet.com / 302 2217

*Prepayment required through one of the

Board Members

cation's seminars? Are our
teachers "highly competent"
in terms of academics? Do
they all have the will, but sim-
ply lack the skill? Are the
present generation of
Bahamian parents eager to

help their children learn, but

are simply lacking the proper

kind of encouragement?
What do you think?

pnunez@tribunemedia.net

¢ Read part one of
"Re-examining our failing
education system’ at:
http://www. tripune242.com/ed
itorial/Insight/03072011_INSI
GHT-Education insight

oe ee a

ZAP

Career Opportunity
Telesales Agent

We at DHL Express Bahamas are seeking to expand aggressively in the
marketplace and are seeking a highly driven, dynamic and results oriented
Telesales Agent to promote and sell DHL services. The ideal candidate will lead
telesales in a cefined berritorn within three Caribbean countries, identifying
business opportunities and assessing customer needs to penerate revenue on new
business

MINIMUM QUALIFICATIONS:

© 2-4 yoars sales su na service industry
Demonstrated ability to infiltrate senior customer levels and represent value
Excellent interpersonal communication & probing skills, high aptitude and
initiative for follow-up.
Customer service orientation.
Strong business, courier and/or supply chain management knowledge.
Analysis and problem solving skills. Knowledge of technology applications in
business.
Demonstrated drive, persistence & initiative.
Implemented measurements & strategies to attain goals.
Proven planning, organizational, ime and paper management skills,
Proficient with technical computer atware skills [Micrasolt)

This is a challenging job opportunity with the world’s leading provider of
transportation services. Our commitment to excellence and team spirit is a
substantial element of our company's culture.

Send your application and resume ne later than Thursday, March 31, 2011 via
email to michele Jouden@@dhLoom referencing Sales Executive Bahamas in the
subject line

Or Go:

HR Department

DHL Express Bahamas
Island Traders Building
East Bay Street

Nassau, Bahamas

VACANCY

Equipment Manager

A leading fast food Franchise is inviting applications from suitably
qualified persons for the position of Equipment Manager.

Equipment Manager must have excellent communication skills
and strong interpersonal skills.

Qualifications and Experience:

A minimum of four years experience as a qualified Equipment
Technician or Equipment Manager, including Knowledge of Reverse
Osmosis Systems is required. Taylor Certification would be a plus.

e Perform preventative and on-going maintenance and
corrective actions on all equipment and systems, inclusive
of HVAC systems, plumbing, refrigeration systems, kitchen
equipment, electrical and POS systems.

Provide emergency service and supply corrective maintenance
on assigned systems and equipment in order to reduce or
eliminate breakdowns, hazards, spoilage of products, or the

This presentation covers the basics — technical analysis history and
theory and basics skills such as chart construction and interpretation.
The program also explains how technical analysis, with its focus on
the market supply and demand forces that determine securities prices,
complements fundamental analysis with its more theoretical toolset
used to ascertain optimal security valuations.

inability to meet customersi requirements.

Manage the required service orders for all maintenance work
performed in each restaurant.

Liaise with Mutliplex supplier to coordinate routine
maintenance, preventative maintenance, and ordering of
replacement parts and equipment on Multiplex system.
Barry M. Sine is the director of research of CapStone Investments.
He utilizes fundamental, quantitative, economic and technical tools
to identify promising investment opportunities. In 2007, he was a #1
ranked analyst in the Wall Street Journal Best on the Street analyst
rankings. Mr. Sine has also held positions with JP Morgan, Prudential
Securities, and Oppenheimer. He is currently a director of the New
York Society of Security Analysts, was a past director of the Market
Technicians Association, and founded and was the first director of the
CMT Institute. Mr. Sine is a lecturer and sits on the advisory board
of the Student Managed Investment Fund at Florida International
University. He holds both the Chartered Market Technician (CMT)
designation for technical analysis and the Chartered Financial
Analyst (CFA) designation for fundamental analysis. He is also the
co-author of the Technical Analysis reading for the CFA Level I exam.
Mr. Sine holds an MBA in finance and international business from
New York Univestity’s Stern School of Business and a BA in finance
and economics from Fairleig Dickinson University.

Maintain an inventory of spare parts, tools, cleaning equipment
and miscellaneous hardware to minimize down time.

Prepare and maintain an equipment warranty file, and an
equipment depreciation file for each restaurant in order to
control repair costs, and “stagger” the cost of replacing
equipment over a period of time.

Maintenance of Exhaust fans and smoke stacks
Daily calibration of equipment.

Report to management any discrepancies observed in work
performed by outside service agents.

Please reply in writing to:

Human Resources Manager
P. O. Box SS-5925
Nassau, The Bahamas


PAGE 10B, MONDAY, MARCH 14, 2011

THE TRIBUNE



Gadhafi drives rebels from

one of last strongholds

BENGHAZI, Libya
Associated Press

MOAMMAR Gadhafi's
forces swept rebels from one
of their final strongholds
with hours of searing waves
of strikes from warships,
tanks and warplanes on Sun-
day but the insurgents
claimed that they moved
back in after nightfall.

One rebel said that after
their initial defeat, opposi-
tion forces destroyed
armored vehicles and cap-
tured dozens of fighters from
Gadhafi's elite Khamis
Brigade in the oil town of
Brega, driving others back
into the town's airport.

Another opposition fighter
told The Associated Press by
telephone that celebrations
had broken out in the nearby
city of Ajdabiya, and cele-
bratory gunfire, honking and
shouting could be heard in
the background.

"We are on our way to
Brega to celebrate with our
brothers there," he said.

The opposition has seen a
series of reversals in its battle
for control of Libya's main
coastal highway, which runs
from Gadhafi's western
stronghold in the capital,
Tripoli, to rebel-held terri-
tory in the east. Gadhafi's
forces seem emboldened by
their string of victories but
their supply lines are increas-
ingly stretched and they
depend on artillery, airstrikes
and naval attacks that are
more difficult to launch at
night.

The rebels have been
pleading for Western pow-
ers to protect them with a
no-fly zone, and on Monday
their leaders meet in Paris
with U.S. Secretary of State
Hilary Rodham Clinton, who
plans to assess their capabil-
ities and intentions.

The Arab League asked
the U.N. Security Council on
Saturday to impose a no-fly

zone. But the U.S. and many
allies have expressed deep
reservations about a tactic
that would require them to
destroy Gadhafi's air defens-
es and possibly shoot down
his planes, and _ they
appeared no closer Sunday
to imposing a no-fly zone.

The poorly equipped and
loosely organized fighters
said throughout the day that
they were fleeing Brega
under heavy attack, losing a
vital source of fuel for their
vehicles and leaving Gad-
hafi's military less than 150
miles from the main opposi-
tion city of Benghazi.

A spokesman for Gad-
hafi's military declared that it
had seized control of the
town and was "dealing with
the situation."

Ajdabiya is the only other
major population center
between Gadhafi's forces
and the rebel headquarters.
If his successes continue, the
Libyan strongman will soon
face the choice of consoli-
dating his control of the
Mediterranean coast or mov-
ing swiftly toward Benghazi
and the prospect of a devas-
tating battle.

"Benghazi doesn't deserve
a full-scale military action,”
army spokesman Milad Hus-
sein told reporters in the cap-
ital, Tripoli. "They are a
group of rats and vermin and
as soon as we go in, they will
raise their hands and surren-
der.”

Gadhafi's navy, army and
air force began pounding
Brega with artillery, rockets
and bombs Sunday morning
and didn't let up all day,
forcing doctors and wounded
people from the town's hos-
pital with a missile strike,
several rebels told The Asso-
ciated Press after fleeing.

"There wasn't any time to
breathe, to do anything,” one
fighter with responsibility for
logistics said by telephone as
he fled Brega for Ajdabiya,

~~ en

about 50 miles (80 kilome-
ters) by road to the east.
Explosions went off in the
background.

Speaking on condition of
anonymity for fear of retali-
ation, he said the opposition
was bracing for conflict in
Ajdabiya by evacuating doc-
tors and the wounded from
there, too.

He said some rebels had
gathered in a seaside village
a few miles east of Brega,
hoping to halt Gadhafi's
forces. He said more fight-
ers from rebel strongholds in
the east were heading to
Ajdabiya to prepare for a
battle there.

The rebels were trying to
secure the southern and east-
ern roads to Ajdabiya and
storing provisions and
weapons there after the loss
of free access to gasoline in
Brega.

"T think they are bombing
heavily because they want to
win time before a no-fly zone
is imposed," he shouted over
the phone.

An opposition leader in
Ajdabiya said the rebels
planned to retake Brega and
were attacking Gadhafi's
forces with guns and road-
side bombs as they moved in
reinforcements from gov-
ernment-held cities in the
west.

The rebels are fighting to
oust Gadhafi from power
after more than 41 years,
inspired by protesters who
toppled authoritarian rulers
in neighboring Tunisia and
Egypt. A week ago they held
the entire eastern half of the
country and were charging
toward the capital, Tripoli.
Then Gadhafi's troops began
reversing those early gains
with superior weaponrym
and firepower from the air.

With much of the fighting
in the east taking place along
a coastal highway bounded
by strips of desert, there are
few places for the rebels to

The National Insurance Board
of the Commonwealth of The Bahamas

Proposal For Independent Auditors

The National Insurance Board (NIB) invites suitably qualified accounting firms to submit a proposal
toserve as independent auditors for the audit of the National Insurance Fund's consolidated financial
statements for the fiscal year ending December 31, 201 1, subject to renewal for an additional two
years, The financial statements are to be completed in April, following the year-end.

The 2009 Annual Report ean be accessed ar wwwnib-hahamas.com

The proposal should include, but not be limited to:

1. General information on the firm and its local and/or international affiliates,

. The qualifications and experience of the principals of the firm, including comments regarding
other professional stalf members’ skills and competence,

a 7 . yh . . . “h = * . . = oa = *
. Information on the firms audit SX PereMce Li financial institutions similar in size or nature to

the NIB.

The approach and time-line that will be adopted for the audit and related services that the firm

can provide the NIB,

. Comments with respect to the firm's independence.

». Estimates of fees and billings.

Proposals should be addressed to:

The Director

THE NATIONAL INSURANCE BOARD

and marked “Proposal to Serve as In

Clifford Darling Complex
Baillou Hill Road
Nassau, Bahamas

endent Auditors”, to arrive at the Director's Office no

later chan 4:00 p.m, on Friday, April 9, 2011. The NIB reserves the right to reject any or all

renders.



aa al f Ze



AN ARMED Libyan rebel chants anti-Gadhafi slogans during a demonstration for students of the facul-
ty of medicine of the University of Qar Younis, in Benghazi, Libya Sunday. Hundreds of students took
the streets protesting what they called "The Libyan leader's war crimes" demanding the international
community to impose a no fly zone over Libya.

take cover, forcing them to
withdraw under fire before
attempting to surge back.
Also Sunday, Gadhafi's
forces appeared to edge clos-
er to Misrata, battling rebel
fighters on the outskirts of
Libya's third-largest city, 125

miles (200 kilometers) south-
east of Tripoli, residents
reported.

One resident, who did not
want his name used because
he fears for his safety, said
streets inside the city were
empty as people took cover

COMMONWEALTH OF THE BAHLAM,

IN THE SUPREME COURT

DEC 23 20n

‘(Common Law and Equity Division

BETWEEN

BAHASLAS DEVELOPMENT BANK

SUMMONS POR LEAVE TO ENTER

MASSA RAH AMAR

SI ;
SUPREME COURT

Nasser Nasser/AP

in their homes and the noise
of tanks, anti-aircraft fire and
machine guns grew ever-
nearer.

He said several tank shells
had struck inside the city,
hitting a mosque and an
apartment building.

Plaisruti ff

ANDI

MICAH ROBERTS

Defendant

TUDGMENT IN DEFAULT OF APPEARANCE

LET ALL PARTIES CONCERNED attend before the Kepistrar in Chambers situate

at the Supreme Court Registry, Ansbacher House formerly the Gaharmaa International Trust

Company (BTCC) Building, Second Floor, Fast Street and Bank Lane, Natsu, The Bahamas
—— a 4 1 r
ie i Hee Ss the { } day ol? Uf ABLE 7A, 2010 wt / / P dy o'clock bn the foc hoon on

the: bearing of an application Pursdant to Cedes 74 Rule 3 of the Kules of the Supra Conard

ISVS on the part of the Plaintiff for uidpoent in this action apainst the Defendant for the

amount claimed in the Statereent of Claim interest and Costs.

TARE NOTICE that a party intending to oppose this application or bo apply for a

shay of emescubon should scad to the eyapessibe party or ibs Alternry be reach them not jess

chat Pax (2)

tise

} dys before the date aboweanentioned, a copy of an Affidavit intending to be

Issued this 13 day of December A.D, 2000

Micah Roberts
Bathey Town

Bimini, The Babwrnas

REGISTRAR

This Summons was taken out bey Halsbury (Chambers, Chambers, Halsbury Commercial
Cente, Village Road, North, PAO. Bow CR-56766, Nassau. The Bahamas, Abtorneys for the

Plaimtall.

Join the Leading Environmental Conservation
Organization in The Bahamas

JOB OPPORTUNITY: PRESERVE ADMINISTRATOR AND
PROGRAMME DIRECTOR
LEON LEVY NATIVE PLANT PRESERVE - ELEUTHERA

Pesition Summary: This position is located im Gerveror's Harbour, Eksthera,
Candidate will be responsible for prowiding dary to day mamagenvent and
supavision of Leon Lewy Native Plant Preserve (LLNPPI, Potential candidates
should have a lowe for the Bahamian environment. A strong interest in the
natural history and cultural history of The Bahamas is a plas.

Primary Responsibilities:

General Preserve management duties

Develop all age school cunricalum‘programs imeluding detailed lesscm
plans, teacher workshops, special sammer programmes and on site

motivaties.

Outreach to local and national educational institutions
Manage on site programs mcliding Docent programme, special events

and iniers programmes.

Serve as a community liaison between Local Goverment, Ministry of
Towra, bocal businesses and other agencies

Qualification and Experience:

MS or BS Degree in Environmental education, Beology or Botany with

a Manu OFS wears” Gagpencice

Demoastried eqpercnce in Program developascm

Teaching certification a plas
Proficiency in MS Office suite,

Strong organicutsonal and time management skills
Excellent oral and written communscatenm skills

To apply: Submit cover letter, resume and three references to the Bahamas

Nateonal Trust, Asins Human Resourar avecm yaa



fry. Be bry | 18th,



MONDAY, MARCH 14, 2011

bk

IGHT

The stories behind the news



Re-examining our failing
eilucation system: Part 2

By PACO NUNEZ
Tribune News Editor

LAST week, Insight dis-
cussed education reformer
Geoffrey Canada's strategy
for rescuing the children of
Central Harlem from failing
schools, and asked whether
his approach could work in
the Bahamas.

After reading the article,
Ministry of Education offi-
cials suggested I meet with Dr
Avis Glaze, another pioneer
of school reform who brought
about huge improvements in
the school system in Ontario,
Canada and who the govern-
ment had brought to Nassau
to present a series of semi-
nars for teachers.

An educator for almost 40
years, Dr Glaze, originally
from Jamaica, started as a
teacher in the Canadian pub-
lic system and moved up the
ranks to become a superin-
tendent and then director of
education. In 2003, she was
selected by the provincial
administration to improve stu-
dent performance across the
length and breadth of Ontario
by setting up a Literacy and
Numeracy Secretariat with a
mandate to “drive achieve-
ment with a sense of
urgency."

Her aim: to close the gap
between the top performers
and those who underachieve.

"Middle class kids may
come to school with a vocab-
ulary of 12,000 words, poor
children come with a vocabu-
lary of 4,000 words. From the
very beginning we see the
gap. The purpose of public
school, if people take it seri-
ously, is to narrow or close
that gap. And we have to
have the strategies and inter-
ventions to do that," she told
Insight.

Her method: hire people
who know about curriculum
formation and effective teach-
ing, organise them into teams
and assign them to schools,
where they would equip prin-
cipals and teachers with the
tools and strategies necessary
to help children learn.

"If you want to bring about
improvement, you have to
focus on a number of things,
two of which are instructional
effectiveness and the quality
of the leadership of the
schools, among other things,”
she told Insight.

Those other things include:
early intervention in the lives
of struggling students, an
intensive focus on reading,
extending "time on task” for
all students, and monitoring
the performance of teachers.

The result of this approach:



“I am particularly concerned with closing
the gap; you cannot say we have an excel-
lent system if you have a long tail of failure.
When we talk about raising the bar for every-
body and closing the gap, it means we're not
leaving any schools out of the strategy.”



"It didn't take long, with the
strong focus with professional
development that we gave, for
us to begin to see results.
When I started, 19 per cent
of our schools were low per-
forming; in four years, it
dropped to five per cent.” The
effort to "close the gap" in
particular was so successful
that they found the children
of immigrants, for whom Eng-
lish was a second language,
were in many cases out per-
forming students from top
schools.

Asked if this method could
have similar results in the
Bahamas, she replied,
"Absolutely."



GEOFFREY CANADA

Dr Glaze's approach
shares a number of similari-
ties with the ethos behind
Geoffrey Canada's Harlem
Children's Zone (HCZ). Both
rely on the conviction that:

© poverty is not destiny

¢ early intervention is vital

© good teachers are the key
to a good education

¢ extended school hours
improve student performance

e established public educa-
tion systems are woefully out-
dated and do not prepare stu-
dents for today's world

e failure cannot be an
option for any child — "We
can’t have any throw-away
kids," Dr Glaze said.

There are also some
important differences. The
first of these, I would describe
as the "hope factor."

Dr Avis Glaze

THE CASE FOR
OPTIMISM

Mr Canada's HCZ depends
on a recognition that schools
often suffer because of the
large number of "bad" teach-
ers on staff who couldn't care
less about their students, but
who are virtually impossible
to get rid of.

For Dr Glaze, however, it's
not that the majority of teach-
ers don't care, it's that they
don't have the necessary tools
to do the job; the system has
let them down, just as it has
the students.

She said that teachers here
told of a similar situation to
that which she found in
Ontario — it is not "the will”
that is lacking, but rather the
skill.

"From my experience,
teachers are people of good
will. Many would have the
will and most of the skill, but
you know, some don't have it
all.

“It's a matter then, of how
we're going to retool them so
they can get the job done,”
she said. Beating up on teach-
ers is certainly not the answer.

"In Ontario we are not like
in some parts of the world,
where they believe in ‘shame
and blame’, and one size fits
all. It’s a very humanistic phi-
losophy, which says if you get
people motivated, if you give
them the skill, they will get
the job done. And it worked
for us. It doesn't work in
every setting, but it worked
for us.

"We have highly compe-
tent teachers in terms of aca-
demics, so we then provided
the interventions, the support,
a very good strategy, we felt
that we could get results and
it did happen.”

This is not to say that cer-
tain "non-negotiables” were
not applied. "Someone need-
ed to say to those low per-
forming schools, "You're not
doing what needs to be done,
the country cannot wait, the
children cannot wait, we are
going to come in and help
you,’ and they have no choice
but to co-operate.”

Once her programme
began to succeed in some
schools, Dr Glaze found there



DR. ALVIS GLAZE addresses educators and stakeholders during a
three-day workshop held recently at the Sheraton Nassau Beach Resort.

was little need to force the
issue.

"They realised we were
going into schools and we
were helping them. We were
not there to put them down,
and I think it increased moti-
vation and people said 'Come

and help us’, because the
environment was non-threat-
ening."

Dr Glaze also regards with
acertain amount of optimism,
the parents of children from
poor backgrounds — a much
maligned demographic in the
Bahamas.

While insisting she is not
making excuses for them, Dr
Glaze said: "Sometimes we
get so upset with parents, but
has anyone taught them par-
enting skills? Some people

J4 mop (EPA highway rating). Available optic
V-6 engine, and right or lett

3 EXECUTIVE |
33, MOTORS LID |.

E-mail: execmotor@bateinet_hs
Parts and service guarandieed

AUTHORISED TOYOTA DEALER

Ag la bte i

apd Bakers of Quabty Acts Sade Preece = ob

just don't know what to do.

"I think people care about
their kids, but they don't have
the skill to raise them.

"I remember once in
Ontario, teachers were say-
ing ‘Oh Avis they don't care.
You have too much confi-
dence. When we have meet-
ings, parents don't come.’

"T took down phone num-
bers and called some of the
parents. One of them told me,
"You have meetings at 7pm, I
clean offices at night and I
can't come.’ So we started to
change our meeting times,
and parents started coming.

"Too often schools say
"You adjust to us’, rather than
really going out and learning
about their community.

"Many parents, especially

if they didn't have very posi-
tive experiences at school, are
afraid of coming there. So we
went out to get them, and
they started coming.”

FINANCIAL REALITIES

Hopeful though she may be
when it comes to teachers and
parents, Dr Glaze delivers a
sobering perspective when it
comes to the question of mon-
ey.

Geoffrey Canada admits
his programme is not cheap
— the Harlem Children's
Zone spends about $5,000 per
student per year. In order to
cover the costs, he augments
the partial funding his schools
get from the US government
by attracting private grants
and donations.

But the Bahamas is not the
United States. Neither is
Canada, and Dr Glaze points
out that it is foolish to create a
project for reform that
depends on resources that will
not be forthcoming.

"People often say 'Give me
more money and I'll improve,
but you know, with dwindling
resources all over the world,
the challenge for educators is
to do more to improve edu-
cation with the resources we
currently have,” she said.

Dr Glaze believes support
and positive reinforcement
are the keys to improving
teaching standards. She dis-
misses the "merit pay"
schemes applied by some
schools, including Mr
Canada's, as too "messy."
Offering financial rewards
based on student performance
is bound to breed hostility and
division, she said, as no two
students are equal and teach-
ers lumped with more chal-
lenging classes will quickly
become bitter and disillu-
sioned.

CAN THE SYSTEM
CHANGE FROM
WITHIN?

Perhaps the biggest differ-
ence between Geoffrey
Canada's system and that of
Dr Glaze hinges on the ques-
tion of whether the problems
facing public education can
be resolved from within.

When he first left college
eager to make his mark on
education in America, Mr
Canada wanted to tackle the
entire system. He soon found
he was banging his head
against a wall of obstruction
erected by unbudgeable union
leaders and the engorged
bureaucracy which runs the

SEE page 9B

GP) TOYOTA moving forward
When a car becomes more.

The Toyota Camry sets a oew global standard tor
safety. A more comfortable cabin oHers superior design
amenities, penerous legroom and a bigper trunk. And
the fuel-efficient 4-cylinder, 2400 cc engine gives up to

ns imclude

Tare dine

pair Hay, 6-41

CAMRY

Audio Mall, Shirley Street (opp. St: Matihow's
an Mom to Fri Sam -
Sal Ram - | noon

: 397-1700

$:hlpm

Abcdse eal Der bbe Kr Bed, ST -280 16
{T\

Pim blowin’ it

TIF
65F

HIGH
LOW

SUNNY AND

PLEASANT

Volume: 107 No.93



injuries after car
comes under fire

By ALISON LOWE
Tribune Staff Reporter
alowe @tribunemedia.net

A 14-YEAR-OLD girl
has died after being shot a
number of times in a rela-
tive's driveway.

The unidentified victim
succumbed to her injuries
in hospital yesterday.

Police said they had yet
to establish a motive for the
killing.

The girl became the 23th
homicide victim for 2011
after the car she was trav-
elling in as a passenger was
fired on by armed men as it
pulled into the driveway of
a relative in Garden Hills
Estates.

According to police, offi-
cers were alerted to the
shooting at Amaryllis

Avenue, Garden Hills
Number One, at around
12.15am on Sunday.

The victim was in a black
2005 Honda Accord. An
unidentified male relative
who was with her escaped
unharmed.

Robbery did not appear
to be the motive, given that
the shooting allegedly
began without any attempt
being made to steal the
vehicle.

Police spokeswoman
Sergeant Chrislyn Skip-
pings said that after being
struck by the bullets, the
girl was transported to hos-
pital in a private vehicle
and died of her injuries
after arrival.

Investigations are ongo-
ing.

RTD

et tese sce

Vittace Roap
SHOPPING CENTER

GEORGE 5T., MADEIRA RD, HARBOUR BAY,
BLUE HILL RD., TOWN CENTER MALL, JFK



NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER

The I

MONDAY, MARCH 14, 2011

Sea SEU
GUA CaM TS

STORY AND PHOTOS ON PAGES 13, 14, 15 AND 16

Teenage gir! shot
dead by gunmen

14-year-old dies of



By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

LOUD explosions
rocked mainland Abaco on
Friday night when a bush
fire spread to the Bahamas
Electricity Corporation's
Marsh Harbour power
plant compound, setting
alight drums filled with
used oil and posing a threat
to the islands’ power sup-
ply.

The power station blaze
came after days of wild
fires raging in pine forests
on the mainland tested the
island's six volunteer fire
services’ resolve, bringing
together the efforts of an
estimated 20 to 30 volun-
teer firefighters and eight
fire trucks from through-
out the island.

"A lot of the firefighters
worked around the clock.


















COMPOUND FIRE: The blaze is tackled on Friday night.

ribune

LATEST NEWS ON WWW.TRIBUNE242.COM



Some of them got only
about two hours sleep in 48
hours," said a resident who
assisted with the effort.

Volunteers were initially
dispatched when a fire
started in the Central Pines
area on Wednesday, threat-
ening a number of homes
in the area and causing the
Central Abaco Primary
School to shut down for a
day due to smoke clouding
the area.

Another separate fire
was believed to have start-
ed in the Great Cistern
area of the island, spread-
ing rapidly, aided by a
strong breeze, until it
reached the BEC power
plant in Marsh Harbour in
the early evening on Fri-
day.

Along the way, one
home received minor struc-

SEE page 10





CROWD FORMS
AFTER WANTED
MAN KILLED
BY POLICE

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

A MOB of about 70 peo-
ple gathered following the
death of a 25-year-old
wanted man who was fatal-
ly shot in a standoff with
police.

Officers tracked down
Ricardo Rolle, believed to
be involved in an armed
robbery and most recently
an attempted rape, in Porgy
Bay, Bimini, on Saturday

SEE page three







UN LN eT

POLICE discovered the
tied-up body of a man with
gunshot injuries on a track
road near Lyford Cay over
the weekend.

The body was found off
Western Road, with both
arms and legs tied, between
the residential community
and Mount Pleasant on Sat-
urday morning.

The victim was wearing a
black T-shirt and grey sweat
pants when he was found by
police shortly after 11.30am.

Up to press time, police
had not yet confirmed the
age, nationality, and resi-
dence of the deceased.

CUTOUT ee CO a

Investigations into the mat-
ter are ongoing.

Last Thursday, police
responding to an anony-
mous tip, discovered the
gunshot-riddled body of a
man in bushes off
Carmichael Road. The vic-
tim was believed to be a
Bahamian citizen in his ear-
ly 20s, and the matter was
classified as a murder.

Anyone with any infor-
mation that might assist
police in their investigations
into all criminal matters
should call 911, 919 or call
Crime Stoppers anony-
mously on 328-TIPS (8477).

_— ——_

WLS






PAGE 1

N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER V olume: 107 No.93MONDAY, MARCH 14, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER SUNNY AND PLEASANT HIGH 77F LOW 65F I N S I D E JAPANEARTHQUAKEANDTSUNAMI: RACETOPREVENTNUKEMELTDOWNS By ALISON LOWE Tribune Staff Reporter alowe@tribunemedia.net A 14-YEAR-OLD girl h as died after being shot a number of times in a rela tive's driveway. The unidentified victim succumbed to her injuries in hospital yesterday. Police said they had yet to establish a motive for the killing. The girl became the 23th homicide victim for 2011 after the car she was travelling in as a passenger was fired on by armed men as it pulled into the driveway ofa relative in Garden Hills Estates. According to police, officers were alerted to the shooting at Amaryllis A venue, Garden Hills Number One, at around 1 2.15am on Sunday. The victim was in a black 2005 Honda Accord. An unidentified male relativew ho was with her escaped unharmed. Robbery did not appear to be the motive, given that the shooting allegedly began without any attempt being made to steal the vehicle. Police spokeswoman Sergeant Chrislyn Skippings said that after being struck by the bullets, the girl was transported to hos pital in a private vehicle and died of her injuries after arrival. Investigations are ongoing. 14-year-old dies of injuries after car comes under fire TRY OUR D OUBLE M cFISH The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM Teenage girl shot dead by gunmen By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net A MOB of about 70 peo ple gathered following the d eath of a 25-year-old wanted man who was fatally shot in a standoff with p olice. O fficers tracked down Ricardo Rolle, believed to be involved in an armedr obbery and most recently an attempted rape, in Porgy Bay, Bimini, on Saturday S EE page three CROWD FORMS AFTER WANTED MAN KILLED BY POLICE STORYANDPHOTOSONPAGES 13, 14, 15 AND 16 POLICE discovered the tied-up body of a man with gunshot injuries on a track road near Lyford Cay over the weekend. The body was found off Western Road, with both arms and legs tied, between the residential community and Mount Pleasant on Sat urday morning. The victim was wearing a black T-shirt and grey sweat pants when he was found by police shortly after 11.30am. Up to press time, police had not yet confirmed the age, nationality, and residence of the deceased. Investigations into the matter are ongoing. Last Thursday, police responding to an anony mous tip, discovered the gunshot-riddled body of a man in bushes off Carmichael Road. The victim was believed to be a Bahamian citizen in his ear ly 20s, and the matter was classified as a murder. Anyone with any information that might assist police in their investigations into all criminal matters should call 911, 919 or call Crime Stoppers anonymously on 328-TIPS (8477 TIED-UP BODY WITH GUNSHOT W OUNDS F OUND NEAR LYFORD CAY By ALISON LOWE Tribune Staff Reporter alowe@tribunemedia.net LOUD explosions rocked mainland Abaco on Friday night when a bush fire spread to the Bahamas Electricity Corporation's Marsh Harbour power plant compound, setting alight drums filled with used oil and posing a threat to the islands' power supply. The power station blaze came after days of wild fires raging in pine forests on the mainland tested the island's six volunteer fire services' resolve, bringing together the efforts of an estimated 20 to 30 volunteer firefighters and eight fire trucks from throughout the island. "A lot of the firefighters worked around the clock. Some of them got only about two hours sleep in 48 hours," said a resident who assisted with the effort. Volunteers were initially dispatched when a fire started in the Central Pines area on Wednesday, threat ening a number of homes in the area and causing the Central Abaco Primary School to shut down for a day due to smoke clouding the area. Another separate fire was believed to have start ed in the Great Cistern area of the island, spread ing rapidly, aided by a strong breeze, until it reached the BEC power plant in Marsh Harbour in the early evening on Fri day. Along the way, one home received minor struc COMPOUND FIRE: The blaze is tackled on Friday night. SEE page 10 BL AZE AT BEC POWER PLANT COMPOUND

PAGE 2

L OCAL NEWS PAGE 2, MONDAY, MARCH 14, 2011 THE TRIBUNE fn S TORYTIME: H undreds of child ren turned out to the Rotary of N assau Sunrise Fair, the fifth annua l reading fair where volunteers took turns to read books to the children. The event was held on the grounds of the College of the Bahamas. READALL ABOUTIT! THEROTARYOFNASSAUSUNRISEFAIR P HOTOS: Tim Clarke /Tribune staff

PAGE 3

T HE shooting of Ricard o Rolle in Bimini over the weekend, brings to mind ar iot which took place on t he quaint island in Decemb er 2007 when police shot a nd killed 43-year-old Ashc al Dion Rolle at the Bimini Breeze nightclub. Mr Rolle, who was reported at the time to have been wanted by police for a minor traffic violation, was arrested by two offic ers and handcuffed. A ccording to eyewitnesses, Mr Rolle was shot to the h ead while he was cuffed a nd laying on the ground. Crowd After reports of the incid ent spread throughout the island, a huge crowd descended upon the police c ompound and started to d estroy the buildings and v ehicles nearby. Pushing to gain access to t he officer who they b elieved responsible for the shooting, the mob firebombed the police barracks destroying everythingi nside, and set fire to two police boats which were moored at the stations dock. R esidents then turned their anger on the police station and started throwi ng petrol bombs on to the r oof, setting it afire. When the structure was s urveyed by officers from N ew Providence who had b een flown in to provide a ssistance, it was discove red that 23 fire bombs had been hurled at the station. Riot A lso along the exterior, a ir conditioning units and security bars of the station h ad been kicked or pushed i n during the riot which officers said lasted for h ours. Rocks, bottles, bricks, and conch shells were all scattered throughout the police compound. A t the time, Police Commissioner Reginald Ferguson said officers had to fire explosives into the air to d ispel the crowd when Mr R olles body was being removed from the localc linic. A total of 71 additional police officers had to be flown into Bimini, along with 22 Defence Force offi-c ers to bring the local pop ulation until control. Minister of National S ecurity Tommy Turnquest s aid the officer responsible f or the shooting would be placed on administrative leave as they investigatet he matter. He promised at the time that whatever actions needed to be taken, be they criminal or otherwise, the public can be assured that the law will be carried o ut. C onstable Carliston Dar l ing was later charged in January 2008 with Rolles death. LOCAL NEWS T HE TRIBUNE MONDAY, MARCH 14, 2011, PAGE 3 morning. R olle was shot in the head after he allegedly pointed a handgun at officers attempting to arrest him. Last night, witnesses and police officials main-t ained there was no riot a fter the wanted mans death. A 58-year-old Biminite, who witnessed the scene on Saturday, said: People gathered and carried on,m ostly family members and friends. Maybe 75 p eople, mostly young children between the ages of 14 to 24. But there was no rioting, nothing like the one we had here a few y ears back. It was just some family trying to i nquire what was happening. Crowds are gonna gather once you hear a shooting in a community. Officers found the w anted man in the bathr oom of a green twostorey apartment building off Queens Highway. A ccording to witnesses, Rolle had sneaked into a relatives home to take as hower. Sgt Chrislyn Skippings, police spokeswoman, said: On opening the door to the bathroom, a male was seen with a firearm. Officers moved in to arrest the s uspect. It was at this time the suspect is said to have trained his weapon on the officers. O fficers recovered a .40 Glock handgun with ammunition. Y esterday, members of the northern Bimini com munity described locals as s plit over the issue. One resident said: The younger set are taking it the wrong way, and the o lder set are taking it another way they are sid ing more with the police. Family members and friends reacted immedi ately to the shooting, a ccording to police, with s ome persons becoming loud and boisterous in protest of police actions. S gt Skippings said: Though rowdy, there was never a riot or any such indication. Leaders of the Bimini community, including church and civic,r esponded positively by calming the agitated fami-ly members and others. Family members contacted by The Tribune declined to comment on the shooting. It was confirmed that Rolle, along with his mother and siblings, had spent most of his life in Nassau. Another resident added: It really didnt shock the community. People was trying to tell the family members, if you know where this boy is, ifyou see him, tell him to take himself in to the police. They posted up his wanted pictures all over town. It wasnt going to end well. Up to press time, it was not clear if the team of officers sent to Bimini on Saturday, including detectives and a coroner, had completed their findings. CROWD FORMS AFTER WANTED MAN KILLED BY POLICE FROM page one Weekend shooting brings to mind 2007 Bimini incident Mob firebombed barracks, set fire to two police boats 2007: Thepolice barracks were f irebombed and destroyed.

PAGE 4

EDITOR, The Tribune. It was good to hear the Leader of the Opposition state that his Party would be taking the high road as the election 2012 campaigning begins in earnest. I was proud that he used the opportunity afforded him to do that. Apparently his deputy leader did not get the memo. This mornings front page of The Nassau Guardian has Mr Davis suggesting that the fail u re of the Free National Movement administration to create s ufficient jobs to deal with the countrys unemployment problem led to the untimely deaths of Bahamians. What is implied that there are Bahamians who commit crimes to pay their bills, andw hile that is a reality for persons in many countries, it m akes a big difference in the overall psyche of a nation when those who lead use their opportunities of speaking to take the high road. There are persons in this country who see poverty and bills and excuse for doing a loto f bad stuff, but those who lead should not be numbered among them. The bills are real, but this reality should never be used by anyone to plant seeds that will give well-meaning individuals the thought of working something if things are getting rough, financially. We forget that before 1967, it was okay to live at a particular level. Many persons living at that level found a way to send their children to college, children who became Doctors, Lawyers, Accountants and Prime Ministers. What has happened to us that give those who lead the temerity, to speak to us so offensively? Most of what has been gained by Bahamians has come from hard work, and many situations can be remedied by stepping back and scheduling our priorities instead of prioritizing our schedule; doing what i s best for ourselves and our country. I f we are to succeed, those who lead are going to have to put their best foot forward, instead of putting their foot in it, just to make a point. EDWARD H UTCHESON Nassau, M arch 10, 2011. E DITORIAL/LETTERS TO THE EDITOR P AGE 4, MONDAY, MARCH 14, 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 Insurance Management Building., P.O. F-485, Freeport, Grand Bahama T ELEPHONES Switchboard (News, Circulation and Advertising) 322-1986 Advertising Manager (242 W EBSITE w ww.tribune242.com updated daily at 2pm SEVERAL years ago the late Sir Kendal I saacs, then leader of the FNM, resisted the urging of his members to lead a peaceful protest outside the House of Assembly. Wedo not recall the occasion, but it was just after the conclusion of the Commission of Inquiry into drug smuggling when there was much political unrest in the country. Sir Kendal, not only a reasonable, but a responsible man, said he would never take t he responsibility of leading a demonstra tion. Why? Because, no one could control a crowd of people, especially if they should turn into a frenzied mob. He did not want to shoulder the inevitable tragic consequences of damage a violent mob could do. So there was no demonstration. Speaking to party members at their Gambier headquarters last Tuesday, PLP Leader P erry Christie told supporters that come the 2012 election the PLP was committed to play it straight. The partys campaign will be aggressive and spirited, he promised, but would be conducted with respect for, and adherence, to the elementary values of integrity, decency and dignity that are so sorely lacking in our country today. Mr Christie said his party was going to s et the pace and set the tone because we are convinced that political morality, human decency and civility require us to do so. Of course we saw none of this high-mind edness displayed when a crowd descended on Rawson Square on February 23, as police struggled to hold the barricades and shouts went up to secure the House. It was meant to be a peaceful union d emonstration to save BTC from the clutch es of C&W, but unionists were sidelined in a swirl of PLP supporters dressed in yellow no turning back shirts and a large contingent of PLP youth. One policeman later commented that the first hand he saw touch a metal barricade to force it down was that of a man with a mur der charge pending. Rumours were rife,r esulting in National Security Minister Tommy Turnquest eventually confirming that, according to police reports, several violent criminals were also among the crowd protesting outside Parliament that day. Mr Christie was quick to deny the rumours that many protesters were paid by the PLP to demonstrate. He said he cer tainly paid no one. He also condemned Mr Turnquest for using confidential police information about criminal elements being a part of what was meant to be a peaceful demonstration, but turned out to be anything but peaceful. Of course, on such an o ccasion, Fox Hill MP Fred Mitchell had to get in his own snide remark about paid demonstrators. Aside from that being untrue, so what if they were paid?" he asked, referring to the practice during the PLP's early protests in the 1960s. "To mobilise people takes resources: food, buses, and communication, emergency care to name a few of the possible expenses. So let's not get distracted by that fact. We dont intend to get distracted by that fact, nor were the police to be distracted. Upset by another remark made in another context by Mr Mitchell about police reports, Police Staff Association president Dwight Smith stepped in to confirm on Friday that criminally-minded people were overheard to say that they had been paid to particip ate in the February 23 protest. And, he added, it was undeniable that there were people in the crowd with potential criminal motives. Mr Smith urged politicians to stop policising issues. Police already had a difficult crime problem to deal with, they had no need for politicians to add to their responsi bilities. The leader of the Oppositions office is l ocated in the Bayparl building, as are several other offices, including the Ministry of Tourism. Reports from eyewitnesses and eavesdroppers tell the following tale: After the court gave its ruling on the Elizabeth Estate election case, a group of per sons lined the stairs leading the door of the Oppositions office. Among them was a gentleman who is extremely well known tot he police. The persons on the stairs made it known to everyone within earshot that they were there for their f--money! Someone opened the Opposition door and gave them some money. They were not satisfied. Lis ten, said their spokesman, we did what you asked us to do, now we want our money! They were shouting the names of two MPs. They demanded to see them. MrC hristie was not one of them. About a week ago Wednesday, after the recent demonstration, a group of boys were again outside the same office, asking for a certain PLP politician again not Mr Christie. This time they were demanding their money for the part they had played in the Bay Street demonstration. Persons who were there described a scene that suggested that these persons needed money to reimburse them for more than Mr Mitchells necessary bus ride to get to the site of the action. Leaders should not see poverty and bills as an excuse for crime LETTERS l etters@tribunemedia.net Why Sir Kendal refused to lead a demo D D I I V V I I D D E E N N D D N N O O T T I I C C E E TO ALL SHAREHOLDERS The Board of Directors of Commonwealth Bank Limited has Declared a Quarterly Dividend for Common,A,B,C,D, eference Shares, to all shareholders of record at March 21, 2011, as follows:Common6c per share A Preference 7% per annum payable quarterly B Preference 7% per annum payable quarterly C Preference 7% per annum payable quarterly D Preference 7% per annum payable quarterly E Preference 7% per annum payable quarterly F Preference 7% per annum payable quarterly G Preference 7% per annum payable quarterly H Preference 7% per annum payable quarterly I Preference 7% per annum payable quarterly The payment will be made on March 31, 2011 through Bahamas Central Securities Depository, the Registrar & Transfer Agent, in the usual manner. Charlene A. Bosfield Corporate Secretary Leader In Personal Banking Services E DITOR, The Tribune. In a letter to the Minister of Tourism and Aviation published in your February 8th issue, Mr Rodney Moncur asserted that the Antiquities Monuments and Museum Corporation practised discrimination against him and provided special privileges for some users of the facilities at Fort Charlotte. These accusations are categorically denied and by way of background, the following overview of the Corporations policy, of which Mr Moncur should be well aware, is provided. Some time ago, we received advice from a conservation consultant to the effect that the exposure of the Fort to emissions from vehicles had to be decreased in order to preserve thes tructure. As a consequence it was agreed that vehicular traffic within the environs would be reduced. W hen the fee structure was introduced at Fort Charlotte in 2005, the decision was made to have only the prepaid tours (conducted by the Bahamas Taxi Cab Union, Leisure Tours and Majestic Tours) drive through, drop off passen g ers and collect them from the parking lot. Mr Moncur should be able to appreciate that the management and control of this historic site rely on the cooperation and support of visitors who benefit from the cultural experience pro v ided by the guided tours that are available. He cannot be expected to drive through the Fort at will and I repeat: there is no discrimina tion or special privilege executed by the Nation al Museum of The Bahamas. CHAIRMAN Nassau, March 7, 2011. There is no discrimination or special privilege practised by National Museum of The Bahamas E DITOR, The Tribune. I t seems not only do some of our journalists try desperately to change history now politicians are trying. I recall vividly that the Bahamas enjoyed an exceptionally positive relationship with Taiwan even under the 1992 FNM Government however along came the opportunity for the potential massive investment in Grand Bahama by Hutchinson-Whampao and rationally the FNM Government decided unconditionally nor requested to recognise the single China position and we recognised The Peoples Republic of China. After the 2002 election when the FNM was defeated the PLP continued the reciprocal relations with Beijing in fact the PLP obtained the massive gift of a $40 million stadium which is close to completion. For anyone to try to rewrite history which is well documented is a travesty. Baha Mar proposal started in 2005. The Bahamas had recognised the Peoples Republic of China for 10-years + or as we all say today more than a decade! All in the same week we watched the drivel Gaddafi spewed out at his never end ing Press conferences the most ludicrous statement was that his people love him! The Prime Minister should have said concerning Baha Mar that the Izmerl lians could not have developed the project without the heavy investment of the Chi nese now thats fact ABRAHAM MOSS Nassau, March 5, 2011. WHEN DID THE BAHAMAS RECOGNISE THE PEOPLES REPUBLIC OF CHINA? EDITOR, The Tribune Well this takes the cake, on Thursday, March 10, I was travel ling north on Mackey Street in the area of K.F.C when to my surprise there was a jitney travelling south on the sidewalk which is on the west side of Mackey Street, To me this is a new one, the bus was no.1. This morning I read a letter to the editor from Mr Peter Dupuch concerning the police vehicles that travel the Eastern Road on a daily basis. I too am extremely concerned that someone will soon be killed by (especially the bus please explain why these vehicles must travel at breakneck speeds to take prisoners back to Fox Hill prison. When I am in my truck my windows are rolled up and, the radio on (as most people do right on you and, sometimes traffic is so close that you cant move to the side so quickly, and that big bus goes through swerving and rocking, could they not travel that area at 10 mph and arrive safely, and give other drivers time to move to the side. It is time the Minister in charge acts promptly to correct this jitney situation; and the Commissioner acts to correct these speeding vehicles that will eventually kill someone if action is not taken promptly, and then sorry will not be good enough. BILLY SANDS Nassau, March 12, 2011. T ime to stop these speeding vehicles

PAGE 5

By ALISON LOWE Business Reporter alowe@tribunemedia.net THE Free National Movement yesterday defended the appointment of former FNM Senator Johnley Ferguson to a consultancy position at the Department of Lands and Surveys against suggestions from a third party that the appointment represents "an abuse of the public's finances and trust". The National Development Party (NDP statement questioning Mr Ferguson's appointment to the consultancy post. It suggested the consultancy was a "phantom position for a political operative". Mr Ferguson retired from the Senate effective February 14, leaving his post as vice president of the Senate. He was replaced by former Elizabeth constituency candidate, Dr Duane Sands. The NDP's statement questioned "what qualifies" Mr Ferguson to be eligible to advise the Department, whether the post was "created for him", what "unmet needs" existed to be served by the consultancy andhow much Mr Ferguson is to be paid. "There are many questions that this appointment begs," said the NDP. It called on the government to release Mr Ferguson's con tract for public scrutiny, along with his salary. The party suggested it is "irresponsible for the Prime Minister and his FNM government who find it easy to fire ZNS and BTC workers to create phantom positions for their political operatives". In response, both Minister of State for Lands and Local Gov ernment, Byran Woodside, andFNM Chairman Carl Bethel said Mr Ferguson's background as a dedicated public servant with a history of serving in the Family Islands makes him a clear pick for the advising post. Both denied suggestions the appointment was in any way improper or not in the public's interest. Mr Woodside said the NDP "should have done their homework" before making such a claim. "He is a former Family Island administrator as well a consummate public servant so the fit is quite a good one," said the Minister. Mr Woodside, who is attending the Commonwealth Local Government Forum in the UK, said: Mr Fergusons contract is for two years and will see him advising on land issues, with particular attention being given to the application process and how best to speed up the application process for Bahamians applying for crown land, and also serving as the adviser to myself with respect to the introduction of local government in New Provi dence. The introduction of local government in New Providence was a manifesto commitment of the FNM in the 2007 election but Prime Minister Hubert Ingra ham has since stated that it will not happen in this term due to other economic challenges that arose. Yesterday, Mr Woodside said that although the introduction of local government "won't hap pen this year, we still have to plan for it". Speaking to Mr Ferguson's ability to successfully advise the Department of Lands and Surveys, Mr Bethel added: "Anyone who takes even a cursory look at Johnley Ferguson's resume would see he is an experienced educator and former family island administrator who has served throughout length and breadth of Family Island for decades." He suggested that one of the "primary areas in which Mr Ferguson's expertise will be utilised" during his consultancy will be in the implementation of the provisions of the Land Adjudication Bill 2010, which has been tabled in Parliament but not yet passed. The Bill seeks to empower Bahamians who may have claims to generational land through facilitating their access to legal title. Asked if Mr Ferguson's appointment indicates that the Department of Lands and Surveys did not have the necessary expertise and human resources to undertake this work in-house, Mr Bethel said the implementation of the provisions of the law would require "new focus" that the Department would not have been able to provide without neglecting other already established duties. "To say you have to drop everything and focus on this, what does that do for the functions they are performing already? Sometimes when any gov ernment is moving to implement a new or revolutionary initiative you have to give it new focus." As to whether the government would be willing to publicise Mr Ferguson's contract and salary, Mr Bethel said a review of the budget would reveal his remuneration but the govern ment would not seek to "put people's business on public display on a political whim for someone trying to score cheap political points". LOCAL NEWS T HE TRIBUNE MONDAY, MARCH 14, 2011, PAGE 5 FNM defends former senators appointment to Lands and Surveys Department post FORMER FNM SENATOR Johnley Ferguson was appointed to a consultancy position at the Department of Lands and Surveys.

PAGE 6

FOX Hill MP Fred Mitchell has criticised URCAs decision to allow 51 per cent of BTC to be sold to Cable and Wireless, stating the decision was not worth the paper it was written on. The decision of URCA reads like a legal treatise, Mr Mitchell said. It is no doubt designed in that way to show that all matters have been fully and judicially considered by them in order to satisfy the legal requirements for fairness. The difficulty is that the decision is a sheep in wolves clothing. It is all dressed up in legal clothes but is redolent of unfairness. It does not pass the smell test. In other words, no amount of legalisms or neologisms can deny the fact that the decision makers in this matter are too proximate to Cable and Wireless and ca not to the reasonable man dispassionately, fairly or judicially make a decision on any matter with regard to Cable and Wireless. The atmosphere at URCA is redolent of Cable and Wireless. Indeed, the whole legislative structure and communications policy and the fact of how Cable and Wireless was invited into this process smells to high heaven. In that regard the decision is fatally flawed, he said. Mr Mitchell said this decision reminds him of the logic and legal framework put up to support the apartheid regime in South Africa. The authorities there he said, used to arrest Africans for violating those laws, despite the fact that those laws were immoral. You can not build a moral structure on an immoral premise so breaking those laws was acceptable. It is the same here with URCA. The history of the Communications Act, the URCA Act is such that those who designed it and now run it are former employees or consultants of Cable and Wireless. Who would in those circumstances believe that the decision made by URCA which involves Cable and Wireless in this regard to a fair and rational one? URCA rejected the assertion that it was bound not to be party to an unconstitutional result. It took note of a case from Dominica at the Privy Council saying that the Privy Council did not finally pronounce upon the matter. Unfortunately, they did not bother to ask for additional details. If they had, they would have seen how they missed the mark. The matter of this decision was made with such indecent haste that they did not bother to be informed properly about the law. No public body should be party to an unconstitutional result. The public ought to carefully review whether or not URCA in making this decision was in fact motivated by conforming to the government's announced timetable for this deal as opposed to their legislative responsibility. In my earlier statement, I referred to a comment made by the Prime Minister who indicated that he would cause the government to write URCA to tell them that they must conform to the governments policy on hiring foreigners. I said then if the Prime Minister can give a directive to URCA on that, on what else can he give a directive? It is therefore very much a matter for URCA to have referred this matter to all the parties to address the issues before making a decision. They ought to have ordered an in depth investigation at the very least pursuant to the Communications Act, Section 78. One needs only point out to URCA that in citing the case from Dominica and dismissing it out of hand, they ought to have asked themselves the question which follows on a counter factual basis. If they had found that the Privy Council pronounced definitively on the matter, and knowing that it was unconstitutional, would they then still have come to the same result? The answer must clearly be no. It follows then that the decision that URCA is not competent to determine this point is wrong in law, he said. In addition, Mr Mitchell said there is also an effect on competition. In his opinion, the Fox Hill MP said there are several ways to deal with this matter. One is the Court of Law by judicial review. The other is by an appeal to the Utilities Appeal Tribunal (UAT cial tribunal set up under the Communications Act to deal with appeals. The other is an appeal to the Court of Public Opinion and fourthly, a combination of all of the above. The matter is being studied by me and the lawyers and party members who joined me in my objection with a view to taking the matter further, he said. L OCAL NEWS P AGE 6, MONDAY, MARCH 14, 2011 THE TRIBUNE $SSUR[LPDWHO\VTXDUHIHHWRIVHFRQG VSDFHLVDYDLODEOHLQQHZO\FRQVWUXFWHG EXLOGLQJDWWKHFRUQHURI0DUOERURXJKDQG &XPEHUODQGWUHHWV 7ZRfRQVLWHFDUVSDFHVLQFOXGHG ,GHDOORFDWLRQIRURIIVKRUHEDQN WUXVWFRPSDQ\ODZRUDFFRXQWLQJRU RWKHUSURIHVVLRQV&RQWDFWZQHU 35,0()),&($&( WEEKLY ----2 SAILINGS MIAMI TO NASSAUleaves Sundays, arrives Mondays leaves Wednesdays, arrives ThursdaysWEEKLY ----1 SAILING NASSAU TO MARSH HARBOURleaves Mondays, arrives TuesdaysMIAMI OFFICE t 305-635-4650 f 305-635-46513701 NW South River Drive (opp old Dollar Car Rental OPEN 7 DAYS/WK Mon Sat 8am 7pm, Sundays 12 noon 7pmIn Nassau t 322-2142 322-2875 322-2813 f 322-6089 Nassau Freight Warehouse 322-8926 www.bettyk.comThe same friendly, helpful staff are here to assist you from 8am 4:30pm Monday-FridayNOW OPEN ON SATURDAYS FROM 8AM 12 NOONWere now 2 blocks east of the old Betty K Offices in the House of Mosko building, Bay & Victoria StreetsNow docking at Arawak Cay THE COLLEGE OF THE BAHAMASVisit our website at www.cob.edu.bs MP: URCAsdecision on BTC not worth paper its written on Mitchell speaks out over decision on sale to Cable and Wireless FOXHILLMP Fred Mitchell spoke out against URCAs decision

PAGE 7

PLP Leader Perry Christie was described yesterday by the FNM as being the Greatest Pretender in a part of great pretenders. In their latest commentary, t he FNM said their party leader Hubert Ingraham is aptly referenced at party rallies with the popular Tina Turner song, Simply theB est as it embodies his extraordinary record of publ ic service and accomplishments. In comparison however, the FNM said Mr Christies theme music at the PLPsG olden Gates rally should h ave been The Great Pretender. Even as the Government rapidly mobilised and responded with jobs, bene-f its, training and counseling f or those laid off at the Our Lucaya Hotel, the Leader of t he Opposition quickly popped in and out of GrandB ahama to take advantage of t he anxiety and loss of those w ho had just lost their jobs. Great Pretender Perry Christie pretended to care a bout the workers and their families. But he did not findt he time to actually go and meet with them. He was too busy shedding his own croco-d ile tears instead of drying the tears of those recently unemployed. The same man who pretended to care about the former employees of Our L ucaya also pretended to c are about the 1,200 workers who were laid off from the Royal Oasis in 2004. Despiteh is talk back then, he and his government did absolutely nothing to respond to one of the worst lay-offs ever in Grand Bahama. He now says another PLP government would give spe-c ial attention to Grand Bahama. Where was that special attention when they were last in office? Grand Bahamians know what theO pposition means by spec ial attention, having been a bandoned by the PLP over and over again including in the rebuilding efforts after various hurricanes, the party said. T he FNM went on to add t hat Mr Christie also abandoned the Sea Hauler victims and senior citizens by failing to initiate a prescription drug benefit. He and his party pretend t o care but usually fail to act. This is the party and the l eader who sat silently and passively as one of theirm ajor supporters tore down a p lace of worship and family h omes. This is compassion PLP style. Mr Christie is now p romising the same hope and help he failed to provide dur-i ng five disastrous years in office. Bahamians know better than to trust such an empty promise from the Great Pretender who could not get around to spending the $100,000 grant for MPs on hisc onstituents in Farm Road. During the rally in Golden Gates, Mr Christie pretended that he was above the attack and smear politics ofB radley Roberts whom he a nointed as Chairman of the P LP. But as much as he may try and pretend, he failed to rebuke his operatives for participating in an out-of-control demonstration with knownv iolent criminals. He sits by while one of his senior colleagues attacks the integrity of the Special Intelligence Branch. He remains silent when his Deputy false-l y and shamefully blames the F NM for suicides. He is presiding over a party of extremi sts. Mr Christie, the Great P retender, also keeps pret ending to be a great democr at, yet he is willing to tolerate and excuse behaviour bordering on undemocratic i ncluding a demonstration which threatened the Houseo f Assembly. The most extreme forces in the PLP are now in control of the Opposition. The Great Pretender has stacked the National Convention, his partys highestb ody, with hundreds of Stalwart Councilors personally loyal to him. This means that the PLPs elected branch representatives are always out-n umbered and are subservient to Mr Christies needs. Today, even after promising yet another remake of the PLP, Mr Christie seems set to run the same scandal-rid-d en and incompetent people in the next election. One cant pretend to be a rose when one continues to surround oneself with poison weed andb ad apples, the FNM said. THE FREE National Movement (FNM Fred Mitchell to apologise forhis attack on the integrity of the Special Intelligence Branchof the Royal Bahamas Police Force. In a press statement, the FNM said that after his attack,Mr Mitchell has now sought to deny his comments after the Police Staff Associations chair man rightly criticised his comments. On March 8, Mr Mitchell said of the SIB: In any event, I have a view which I espoused as minister and I still hold and that is that SIB reports are often based on gossip and trivia and are elevated in the minds of the bureaucracy to too high a level. Two days later on March 10, after justifiable criticism from the Staff Association and others, Mr Mitchell sought to twist his own words and to deny the clear meaning of his earlier comments. His statement read in part: I at first declined to comment but upon more mature consideration what I wish to say is that any and all of the comments made by me at any time are directed at politi cians and policies and not at public servants. The comments are about public policy. That should be crystal clear from the content and context of the remarks. What is crystal clear, the FNM said, is that Mr Mitchell said that the reports themselves are often based on gossip and trivia, directly impugning the integrity of those who produce the reports. Further, he launched an attack on the wider bureaucracy and not singularly political leaders and public policy. His prior statement refutes his later attempt to walk back his earlier reckless comments. By attempting to deny his own words, Mr Mitchell is now suggesting that the Police Staff Association and others simply misunderstood what he was saying. This is an additional insult added to the injury of his earlier rash statement, the party noted. In his second statement, the FNM highlighted that the Fox Hill MP only responded after mature consideration. The mature thing to have done was not to launch an attack on the Police in the first place. Further, after launching such an attack, he should have had enough maturity to apologise to the Royal Bahamas Police Force, the party said. When contacted for comment yesterday, Mr Mitchell said he will be answering the Police Staff Association and the FNM together on Tues day with a full and frank statement. LOCAL NEWS T HE TRIBUNE MONDAY, MARCH 14, 2011, PAGE 7 7 KH &RPLQJRIWKH.LQJGRP Call for Mitchell apology over SIB comments FNM describes Perry Christie as the Greatest Pretender PLP LEADER PERRYCHRISTIE was criticised by the FNM

PAGE 8

L OCAL NEWS P AGE 8, MONDAY, MARCH 14, 2011 THE TRIBUNE By CONSTABLE 3011 MAKELLE PINDER THEREis no right or wrong way to protect youa nd your family during a home invasion. However when your home security is broken, the objective is to escape alive. Hence, the best defence a gainst a home invasion is prevention, including family education and planning. One family meeting to disc uss general rules and procedures may save a life in years to come. T herefore the police sugg est that the following prec autions are taken into consideration and utilised: P arents should teach child ren how to answer or not answer the phone or a knock on the door in the scenarios of parents being home or away. Dont forget to teach kids the basics, such as always l ocking the doors and wind ows before leaving home and anyone could be at the d oor. T he weakest home securi t y link is failing to lock doors or windows and opening the door without question at thes ound of a knock or ring of the door bell. Teach your children how to dial 9-1-1 at a young agew hile explaining the appro priate situation to dial. THE OPTIONS OF R ESPONSE: Escaping immediately, s aving yourself This option decreases the amount of time the burglars have to complete their job while having their privacy leaked. Some refuse to look like a c oward by leaving their fami ly in danger, however, radi cal actions may pay off late r if you are able to immed iately get help. Fighting and screaming Screaming and yelling works well if there are neighbors close by or in a public area. There is no pur pose in fighting if you arep hysically incapable. If fighting, make a strong, forceful hit to the nose, eyes, throat o r groin area. This will give a small window of time to escape and call for help Compliance with bur g lars This allows more time to think of an effective plan of action while creat i ng an escape opportunity once the burglars let their guard down. Pulling a weapon on an armed intruder This option should be your last r esort, most times house h old weapons are not l oaded for child safety, so in t he rare occasion you have a ccess to a loaded fire arm, b e aware the burglar is just as desperate and often will not hold back. Remember that No matter what option you choose, make sure you stay calm and p ut thought into your actions because it will affect everyone surrounding you. S hould you need more i nformation and before your h ome security is broken and invaded, please pay close attention to the informationp rovided. Or if you have informa tion pertaining to any crime, p lease do not hesitate to c ontact the police at or Crime Stoppers at 328-tips (New Providence 8476 (Family Island Royal Bahamas Police Force National Crime Prevention Office: Home invasion survival tips

PAGE 9

BySIR RONALD SANDERS (The writer is a consultant and former Caribbean d iplomat) TRAVELLERS in the C aribbean appear set for a turbulent time because of the a pparent stand-off between t he Trinidad and Tobago owned, Caribbean Airlines L td (CAL c arrier, LIAT, whose shareh olders are the governments o f Antigua and Barbuda, Barbados and St Vincent and t he Grenadines. There is no question that, for many of the countries oft he smaller Caribbean count ries, LIAT is an essential s ervice. It has also become important for traffic to Guyana of North American and European tourists and nationals visiting froma broad who can get as far as Barbados via bigger airlines. There is also no question that however brave a face is put on it LIATs ability to continue to fly without s ubsidies from its shareholde r governments is in grave doubt. And, the possibility of its shareholder govern m ents putting money into LIAT is pretty remote since all three of them are s trapped for cash. Borrow ing on commercial terms is also not a viable option in todays market, particularly i f such borrowing is based on a need to compete against CAL on certain Caribbeanr outes. CAL has made it clear that it intends to fly some of the routes now oper a ted by LIAT. In the past, LIAT relied heavily on loans and subsi dies from shareholder gove rnments, but over the last four years it has paid its own way with no government having to give it a hand-out. Indeed, LIATs landing fees to Caribbean governmentsh ave been a source of reve nues to the airports in all countries that its serves. In Barbados, for instance,L IAT operates approximately 30 landings a day, making it the largest single source of landing fees. The same is true for Antigua and Barbuda, and for most of its eastern Caribbean destinations. But the situation is now changing. LIAT has had to increase its fares because of increased costs, not leastamong them the cost of avi ation fuel. The airline has an aging fleet in need of renewal. Experts put the capital cost of renewal of the fleet at approximately US$300 mil lion. LIATs home market, the Eastern Caribbean, is itself undergoing a period of economic recession with only limited possibilities for shortterm economic growth. Any new competition from CAL will worsen LIATs financial problems and probably push it overthe edge, particularly as CAL gets a fuel subsidy from the government of Trinidad and Tobago while LIAT pays market price. CALs fuel subsidy erroneously described as a fuel hedge is quite significant. Accord ing to Trinidad and Tobagos Finance Minister Winston Dookeran, CALs fuel subsidy claims to the Government for the years 2008, 2009 and 2010 amount ed to $43.69 million In this regard, Prime Minister Ralph Gonsalves of St Vincent and the Grenadinesis perfectly correct when he asserts the absence of a level playing field in any competition between LIAT and CAL. Gonsalves has also spoken of LIAT introducing a mix of aircraft and flying routes to Miami and New York. This is more a consummation devoutly to be w ished than a prospect g rounded in any reality. LIAT would not only have to compete on these routes with CAL which benefits from a fuel subsidy, it would a lso compete with American Airlines which several governments in the region are k nown to give subsidies in order to guarantee their flights. Since no Caribbeang overnment has shown itself willing to provide a subsidy to LIAT to guarantee its intra-Caribbean flights, they are most unlikely to make any contribution toward LIATs wider explorationst o New York and Miami. R egional airlines experts point out that CAL has nothing to gain from a LIAT acquisition, similar to the acquisition of the Jamaica airline, Air Jamaica. CALh as route rights under the CARICOM Multi-lateral Air Services Agreement, it has the necessary airplanes (with the acquisition of French ATRs), and it has a fuel subs idy. What is more, it has the s upport of countries like Grenada, St Lucia and St Kitts who are getting a ser-v ice without paying for it, and who are not attracted to helping pay for LIAT. Fur ther, CAL already flies to B arbados and Antigua and Barbuda. This probably reflects the thinking of C ALs Board of Directors why pay for something that might turn out to be an alba-t ross, if they could put it out o f business and secure a place of dominance in the Caribbean skies? G iven the assets of CAL, particularly its fuel subsidy, it could put LIAT out of busi n ess unless LIAT secures financing from somewhere to allow it to meet its cur rent financial obligations, u pgrade its fleet and offer passengers a competitive price for its service. Should that happen, CAL would enjoy a virtual monopoly. At that point, it isd oubtful that the Trinidad and Tobago government would continue the fuel subsidy at its present level, if at all. Passengers would be expected to pay the com mercial costs of the airlines service. The end result for the passengers tourists and Caribbean nationals alike will be high costs for intraregional travel. But, it could also mean a decision by the dominant airline to abandon non-profitable services and routes. Should the latter decision be taken, some gov ernments would be forced to give the airline money to guarantee continued service. This is a practice many oft hem now apply to foreign carriers such as American Airlines but they refuse tod o for regional carriers. C learly what is needed in this troubling situation is a high level consultative process involving the principals of both CAL and LIAT with the aim of developinga n action plan, including an integrated business plan, for the two carriers. The issue is how to get the two carriers to talk at the level of their Boards to work o ut such a plan that could be p ut to their shareholder governments. One approach would be for the presentC hairman of CARICOM, Grenadas Prime Minister Tillman Thomas, to appoint a team of say three people, h eaded by a seasoned diplomat and including persons familiar with the issues of C aribbean airlines, to bring representatives of the airlines to the table and facilitate the development of the p lan. What is certain is that the current stand-off benefits noo ne, least Caribbean travellers. R esponses and previous commentaries at: www.sironaldsanders.com T HE TRIBUNE MONDAY, MARCH 14, 2011, PAGE 9 The Mercedes-Benz C-ClassYour most enjoyable drive ever.T he 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 f rom 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 C ontrol 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 C OMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY. You are cordially invited to attend A presentation by Dr. David T. ConleyPROFESSOR OF EDUCATIONAL POLICY AND LEADERSHIP FOUNDER, CENTER FOR EDUCATIONAL POLICY RESEARCH, UNIVERSITY OF OREGONNEXT STEPS FOR CREATING A COLLEGE AND CAREER READY CULTUREThe rapidly changing world offers tremendous opportunities for The Bahamas to grow and thrive as a nation. Every Bahamian has a role in charting the path, including teachers, business leaders, community members, parents and students. This session will discuss the next steps in developing a culture of college and career readiness in the home, school, and community. Thursday, March 24th, 2011 7:00 pm 9:00 pm INDEPENDENCE BALLROOM B SHERATON NASSAU BEACH RESORT, WEST BAY STREETAdmission is free of charge and there will be a question and answer sessionRSVP T 362 4910 or email speakerseries@lyfordcayfoundation.orgCOLLEGE CONNECTIONS THE SPEAKER SERIESBuildingTomorrowToday CARICOM Chairman should act to end airlines stand-off WORLDVIEW S IRRONALDSANDERS

PAGE 10

tural damage but no one was injured, according to preliminary reports. The BEC power plant blaze came on the same day that BEC announced it had offic ially taken over responsibility for the generation of electricity at the $70.8 million Wils on City power plant in Abaco from contractor MAN Diesel. The power plant is capable of generating 48 m egawatts of power and was built to address the unreliability of power generation in the A baco islands, which has faltered due to the intermittent failure of generation equipment at the Marsh Harbour power plant. However, the new Wilson City plant has yet to be brought on stream on a full time basis asi ts ability to fully service power demand in the a rea remains hampered by the need for an upgraded transmission line linking it to Marsh Harbour. The contract for the installation of that cable has been put out to tender and BEC has said it hopes the line will be in place in timef or Wilson City to serve peak summer power demand in Abaco. However, in the event it is not completed in time, BEC Chairman Michael Moss and Environment Minister Earl Deveaux have stated that BEC will rely on continued use of gene rators at the Marsh Harbour power plant t o supplement the power supplied and ensure demand is fully met. BEC Chairman Michael Moss said yesterd ay that this plan remains intact as the old B EC plant suffered "no major damage per se" as a result of the fire, with the oil drums in one portion of the compound having caught alight but the generation equipment being spared. He confirmed that immediately after the f ire a bulldozer entered the area and "extend e d the firebreaker" around the plant, clearing down any remaining bush that could carry a wildfire towards the plant. "There should be a firebreaker," he said, adding that he could not speak to the adequacy of the protective measures prior to the fire. Yesterday, sources on the island suggested m ore could have been done before the blaze r eached the plant to ensure the compound did not catch alight, including clearing down t he bush surrounding the facility in advance. O ne source questioned what systems BEC had in place to deploy in the event of a petrol eum fire at the plant, adding that BEC itself appeared to have played no part in addressing the fire. A further hindrance to the firefighting e ffort came from a limited water supply from w hich to fill the trucks which were attending t he fire, T he Tribune u nderstands. Requests a llegedly put to the Water and Sewerage Corp oration on Thursday to increase the water pressure in the area so that fire trucks could b e refilled with water to fight the fires on a more prompt basis were not responded tou ntil the following day, when the water also c ut off entirely for a period of time, said a source involved with the efforts to tackle the fires. This slowed down the firefighters response t o the blaze. "They said the lack of water was because we were using it to fight the fires, but thec apacity of that plant is 750,000 gallons. Each one of those trucks can hold no more than 3,000 gallons, so I doubt that," said a source, who did not wish to be identified. T he Water and Sewerage Corporation c ould not be reached for comment up to press time. T he cause of the fires was not clear yesterday. Attempts to reach police fire officials in Marsh Harbour were not successful. L OCAL NEWS PAGE 10, MONDAY, MARCH 14, 2011 THE TRIBUNE FROM page one Blaze at BEC power plant compound

PAGE 11

By MIKE LIGHTBOURN MY LAST COLUMNgot you started on your purchase by determining how muchy ou could afford, getting loan p re-approval, finding the right B REA agent to help you find a suitable home. Now what? Your BREA agent will show how your preferred home(sp roperties on the market. H e/she will advise you if there are any special issues you should know about involving your choice(s Now you should be armed to make your offer, which should include a contingency regarding an inspection andf inancing, as well as any spec ial requests or repairs, a closing date and the amount of the deposit. There may be some negotiation, but once both parties have agreed on the terms, youll sign a sales a greement or letter of intent. M ake sure your lawyer sees it. The vendors insurance company needs to be advised of your interest in the property once you have signed thec ontract. Y ou should have prea pproval from your bank for financing. If you are preapproved, youll complete the loan process, order ana ppraisal and inspections. Y ou will want to do a final walk through before closing. Once all the legalities are finalised you can complete the transaction. You will sign all t he final documents and b ecome a homeowner. For most persons this will be the largest transaction of their lives and we do not want any slip ups! ( Mike Lightbourn is presid ent of Coldwell Banker Lightbourn Realty). L OCAL NEWS PAGE 12, MONDAY, MARCH 14, 2011 THE TRIBUNE Seeking full-time retail managers to work in our boutiques in Nassau and Paradise Island Must have 5+ years experience in luxury fashion apparel and/or high-end jewelr y & watches. Seeking candidates that have chosen r etail as their career and would be willing to w ork long term. Must have proven sales record and excellent management skills. Position requires strong background in m anagement, inventory, scheduling, product training, human resources, and loss pr e vention duties. Exper ience in Retail Pro a plus. Must be fluent in English. Knowledge of Spanish or another foreign language a plus. Candidate must live in Nassau or be willing to r elocate at o wn expense. Please send a detailed resume and a cover letter to careers@hillsidebahamas.com, explaining your inter est in the position, availability, & salary r equirements. Please also include a photo if available. Real Estate:Reaching the finish line Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story. HAVANA Associated Press A CUBAN court on Saturday found U.S. contractor Alan Gross guilty of crimes against the state and sentenced him to 15 years in prison, a verdict that brought a swift and strongly worded condemnation from Washington. The court said prosecutors had proved that Gross, 61, was working on a "subversive" program paid for by the United States that aimed to bring down Cuba's revolutionary system. Prosecutors had sought a 20-year jail term. Gloria Berbena, a spokeswoman for the U.S. diplomatic mission on the island, termed the decision "appalling" and called on Cuba to release Gross immediately. "We reject and deplore this ruling," she told The Associated Press. "It is appalling that the Cuban government seeks to criminalize what most of the world deems normal, in this case access to information and technology." Tommy Vietor, a spokesman for the White House's National Security Council, said the ruling "adds another injustice to Alan Gross' ordeal." "He has already spent too many days in detention and should not spend one more," he said. "We urge the immediate release of Mr. Gross so that he can return home to his wife and family." Gross was arrested in December 2009 while on a USAID-backed democracybuilding project. The U.S. government and Gross's family say he was working to improve Internet access for the island's Jewishc ommunity, did nothing wrong, and should be released. Cuban officials have called him a mercenary and main tained his motives were more nefarious. The court said the program that Gross worked on part of a $20 million Washington-e ffort to support democracy on the island showed that the U.S. government continues to seek the overthrow of a Cuban government ruled since 1959 by brothers Fidel and Raul Castro. The Havana court found the evidence presented at the trial" demonstrated the participation of the North American contractor in a subversive pro ject of the U.S. government that aimed to destroy the Rev olution through the use of communications systems out of the control of authorities," according to a statement read out on the afternoon news. It said that during testimony in the two-day trial, Gross "recognized having been used and manipulated" by his company Bethesda, Marylandbased Development Alternatives, Inc. as well as by USAID and the State Department. It said he has the right to appeal the sentence to the Supreme People's Tribunal, Cuba's equivalent of the U.S. Supreme Court. Since the trial began, Cuba has stepped up its denunciation of such programs. Last week, state television aired a program detailing the history of the USAID effort, with officials saying it showed Washington was waging a cyberwar. Cuban media have promised to air a second installment on Monday, possibly including footage of Gross's testimony at the trial, which was closed to the foreign press. Development Alternatives was awarded a multimilliondollar contract for the program in which Gross was involved, and Gross received more thana half million dollars through his company, despite the fact he spoke little Spanish and had no history of working in Cuba. Gross traveled to the island several times over a short period on a tourist visa, apparent ly raising Cuban suspicions. Development Alternatives President James Boomgard said Saturday the company was "profoundly disappointed" in the verdict, and called on the government to free Gross. The USAID programs have been criticized repeatedly in congressional reports as being wasteful and ineffective, and funding was held up briefly in 2010 over concerns following Gross' arrest. The money has begun flowing again, though U.S. officials say Development Alternatives is no longer part of the program. While the verdict was not unexpected, it is sure to have a chilling impact on relations. U.S. officials have said repeatedly that no rapprochement is possible while Gross remains jailed. Now that Gross has been convicted, his backers will try to get him released through a court action or executive par don, possibly on humanitarian grounds. His wife Judy says Gross has lost more than 90 pounds since his arrest, and that his 26-yearold daughter and 88-year-old mother are both suffering from cancer. US CONTRACTOR CONVICTED IN CUBA; 15-YEAR SENTENCE

PAGE 12

KORIYAMA, Japan Associated Press J APAN'Snuclear crisis intensified Sunday as authorities raced to combat the threat of multiple reactor meltdowns and more than 180,000 people evacuated theq uakeand tsunami-savaged northeastern coast where fears spread over possible radioactive contamination. Nuclear plant operators were frantically trying to keep temperatures down in a serieso f nuclear reactors including one where officials feareda partial meltdown could be happening Sunday to prevent the disaster from growi ng worse. B ut hours after officials announced the latest dangers t o face the troubled Fukushim a Dai-ichi nuclear complex, including the possibility of a second explosion in two days, t here were few details about w hat was being done to bring t he situation under control. Chief Cabinet Secretary Y ukio Edano said Sunday that a hydrogen explosion c ould occur at the complex's U nit 3, the latest reactor to f ace a possible meltdown. T hat would follow a hydrogen blast Saturday in the plant 's Unit 1, where operators attempted to prevent a meltdown by injecting sea wateri nto it. "At the risk of raising furt her public concern, we cannot rule out the possibility of an explosion," Edano said. "If there is an explosion, however, there would be no signifi c ant impact on human health." M ore than 180,000 people have evacuated as a precaution, though Edano said the radioactivity released into the environment so far was so small it didn't pose any healtht hreats. S uch statements, though, did little to ease public worries. "First I was worried about the quake," said Kenji Koshiba, a construction worker whol ives near the plant. "Now I'm w orried about radiation." He spoke at an emergency center in Koriyama, about 40 miles (60 kilometers troubled reactors and 125 miles (190 kilometers of Tokyo. At the makeshift center set u p in a gym, a steady flow of people mostly the elderly, schoolchildren and familiesw ith babies were met by officials wearing helmets, surgical masks and goggles. A bout 1,500 people had b een scanned for radiation exposure, officials said. Up to 160 people, includi ng 60 elderly patients and medical staff who had been waiting for evacuation in then earby town of Futabe, and 1 00 others evacuating by bus, might have been exposed to radiation, said Ryo Miyake, a spokesman from Japan's nuclear agency. The severity of their exposure, or if it hadr eached dangerous levels, was not clear. Edano said none of the Fukushima Dai-ichi reactors was near the point of complete meltdown, and he was confident of escaping the w orst scenarios. Officials, though, have d eclared states of emergency at six reactors three at Daiichi and three at another nearby complex after operators lost the ability to cool the reactors using usual proce-d ures. Local evacuations have b een ordered at each location. The U.N. nuclear agency said a state of emergency was also declared Sunday at another complex after higher-thanpermitted levels of radiationw ere measured there. It said J apan informed it that all INTERNATIONAL NEWS T HE TRIBUNE MONDAY, MARCH 14, 2011, PAGE 13 Japan races to prevent nuke reactor meltdowns EARTHQUAKEANDTSUNAMIDISASTER PEOPLE WALK in the rubble in Minamisanriku town, Miyagi Prefecture, northern Japan, Sunday, March 13, 2011, two days after a powerful earthquake-triggered tsunami hit the country's east coast. The Yumiuri Shimbun /AP S EE page 14

PAGE 13

three reactors there were under control. A pump for the cooling system at yet another nuclear c omplex, the Tokai Dai-Ni p lant, also failed after Friday's quake but a second pump operated normally as did the reactor, said the utility, the Japan Atomic Power Co. Itd id not explain why it reporte d the incident Sunday. A ll of the reactors at the complexes shut down automatically when the earthquake shook the region. But with backup power supplies also failing, shutting d own the reactors is just the b eginning of the problem, scientists said. "You need to get rid of the heat," said Friedrich Steinhaeusler, a professor of physics and biophysics atS alzburg University and an a dviser to the Austrian government on nuclear issues. "You are basically putting the lid down on a pot that is boiling." "They have a window of o pportunity where they can d o a lot," he said, such as using sea water as an emergency coolant. But if the heat i s not brought down, the casc ading problems can eventually be impossible to control. "This isn't something that will happen in a few hours. It's days." Edano, for his part, denied t here had been a meltdown i n the Fukushima Dai-ichi complex, but other officials said the situation was not so clear. Hidehiko Nishiyama, a senior official of the Econom y, Trade and Industry Mini stry, indicated the reactor core in Unit 3 had melted partially, telling a news confere nce, "I don't think the fuel r ods themselves have been spared damage," according to the Kyodo News agency. A complete meltdown the collapse of a power plant's ability to keep tempera-t ures under control could r elease uranium and dangerous contaminants into the environment and pose major, widespread health risks. Experts noted, however, that even a complete meltd own would probably be far l ess severe than the 1986 disaster at Chernobyl, where a reactor exploded and sent a c loud of radiation over much o f Europe. That reactor, unlike the ones in Fukushima, was not housed in a sealed container. The nuclear crisis was triggered by twin disasters on Fri-d ay, when an 8.9-magnitude e arthquake, the most powerful in the country's recorded history, was followed by a tsunami that savaged its northeastern coast with breathtaking speed and powe r. M ore than 1,400 people were killed and hundreds more were missing, according to officials, but police in one of the worst-hit areas estimated the toll there alone was m ore than 10,000. T he scale of the multiple disasters appeared to be outpacing the efforts of Japanese authorities to bring the situation under control. Rescue teams were strugg ling to search hundreds of m iles (kilometers tated coastline, and hundreds of thousands of hungry survivors huddled in darkened emergency centers cut off from rescuers and aid. At l east 1.4 million households h ad gone without water since the quake, and food and gasoline were quickly running out I NTERNATIONAL NEWS P AGE 14, MONDAY, MARCH 14, 2011 THE TRIBUNE Archdiocese of Nassauannounces itsCitywide Lenten Mission(New Providence)Theme: A New Beginning Behold, I make all things new. (Rev: 21:5)March 14-18, 2011Loyola Hall, Gladstone Road7:00 nightly Guest Preacher Rev. Fr. Donald Chambers, STDThe FROM page 13 SEE page 15 JAPAN:EARTHQUAKEANDTSUNAMIDISASTER

PAGE 14

T HE TRIBUNE MONDAY, MARCH 14, 2011, PAGE 15 Ready to Roll!Get Pre-Approvedf or the 2011 BMDA Auto Show Today!F lexible TermsAttractive Low RatesLow Monthly Payments Visit Scotiabanks Booth at the 2011 BMDA Auto Show March 25 26 Mall at MarathonVisit Any Scotiabank Branch Today!* Trademarks of The Bank of Nova Scotia. Trademarks used under authorization and control of The Bank of Nova Scotia. **VisitBranchfordetails.Minimumapprovedloanrequirementsapply. Offer expires April 30, 2011. Certain conditions apply. I NTERNATIONAL NEWS across the region. Large areas o f the countryside were sur rounded by water and unreachable. Nearly 2 million h ouseholds were without elect ricity. Starting Monday, power will be rationed with rolling blackouts in several cities, including Tokyo. The government doubled t he number of troops pressed i nto rescue operations to about 100,000 from 51,000, as powerful aftershocks contin-u ed to rock the country. Hundreds have hit since the initial temblor. O n Saturday, an explosion d estroyed the walls and ceiling of Fukushima Dai-ichi's Unit 1 as operators despera tely tried to prevent it from overheating and melting down by releasing steam. O fficials were aware that t he steam contained hydro gen and were risking an explosion by venting it,a cknowledged Shinji Kinjo, spokesman for the govern ment's Nuclear and Industrial S afety Agency, but chose to do so because they needed to r educe the pressure. Officials insisted there was no significant radioactive leak after the explosion. W ithout power, and with its valves and pumps damaged b y the tsunami, authorities resorted to drawing sea water mixed with boron in an attempt to cool the unit's SEE page 16 A WOMAN searches through the rubble of her home destroyed in Friday's powerful earthquake-triggered t sunami in Ofunato, Iwate prefecture, northern Japan, Sunday. Kyodo News /AP J APAN: EARTHQUAKE ANDTSUNAMIDISASTER FROM page 14 A PATIENT in a wheelchair is helped by attendants as they evacuate f rom a tsunami-affected hospital at Otsuchi, northeastern Japan, on Sunday, two days after a powerful earthquake and tsunami hit the the country's northeastern coast. Kyodo News /AP

PAGE 15

I NTERNATIONAL NEWS PAGE 16, MONDAY, MARCH 14, 2011 THE TRIBUNE Colonial Group International:Insurance,Health,Pensions,Life Colonial Group International is rated A-(Excellentby AM Best. Lifestyle ProtectionHealth,wealth and happiness cover.insurance,health,pensions,lifeIf you protect your lifestyle with a CGI company,you can pay less for motor and home insurance and enjoy firstrate business cover too.From health insurance,rich in benefits and offering global coverage,to pension services delivering efficient,accurate and timely reporting,CGI companies offer flexible products to make the most of your budget. Customer products and services are supported by the resources of a $300 million regional insurance and employee benefits provider. Colonial Pension Services (Bahamas Tel.502-7526 Atlantic Medical Insurance Tel.326-8191 Freeport Tel.351-3960 Security & General Insurance Tel.326-7100 R UBBLE IS SCATTERED a cross the wide areas of the town of Minami Sanriku, northeastern Japan, on Sunday, two days after a powerful earthquake and tsunami hit the the country's northeasternc oast. Kyodo News /AP JAPAN: EARTHQUAKEANDTSUNAMIDISASTER overheated uranium fuel rods. Boron disrupts nuclear chain reactions. Operators also began using sea water to cool the complex's Unit 3 reactor after earlier attempts to lower its temperature failed, the U.N. Nuclear Agency said. The move likely renders the 40-year-old reactors unusable, said a foreign ministry official briefing reporters. He said radiation levels outside the plant briefly rose above legal limits, but had since declined significantly. Japan has a total of 55 reactors spread across 17 complexes nationwide. FROM page 15 D ESTROYED CARS a re left out on a street following a massive tsunami triggered by a huge earthquake in Tagajo near Sendai, northern Japan, Sunday. Koji Sasahara /AP A FISHING BOAT which was washed away by tsunami, sits overturned in Hachinohe, Aomori, northern Japan Sunday after Friday's catastrophic earthquake and tsunami. Kyodo News /AP

PAGE 16

SECTIONB business@tribunemedia.net MONDAY, MARCH 14, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69T he information contained is from a third party and The Tribune can not be held r esponsible for errors and/or omission from the daily report.$ $4.72 $5.12 $4.72 By NEIL HARTNELL T ribune Business Editor RoyalFidelity Merchant Bank & Trust will launch its next international mutual fund offering this June in a bid to capture the $10 milliont hat will be redeemed when its first such product matures that same month, its presidentt elling Tribune Business the investment bank planned to launch two funds per year. R eaffirming his belief that R oyalFidelitys TIGRS family of funds was still the right recipe for providing Bahami-a n investors with access to portfolio diversification and potentially higher returnsf rom global capital markets, M ichael Anderson said the investment bank was now w orking to develop a viable alternative to attract the $9.98 million in investor principal that will be released once its TIGRS 1 sub-fund matures. A new TIGRS will come out in June to replace TIGRS1 that matures at the end of June, Mr Anderson told Tribune Business. There is $10m illion sitting in TIGRS 1, so were trying to find a suitable investment to back with the n ext TIGRS. Its like trying to figure out whats suitable. What will be the rush over the next five-y ear period? The aim, Mr Anderson added, was for the next TIGRS sub-fund prod-u ct likely to be named T IGRS 5 was to provide a viable, alternative investment f or them [TIGRS 1 investors] to move into. We want people to maintain their diversification in international securities, he explained. Thats what the TIGRS are about, diversifyingp eoples portfolios outside Bahamian securities in a principal protected, low risk way. They provide exposure to markets outside the Bahamas. There arent any other opport unities like this for Bahamian i nvestors, so we want to continue to broaden the base of investments that people havea n opportunity to invest to allow them to do so. RoyalFidelity targets $10m fund retention Investment bank searching for viable investment for upcoming June fund, in bid to attract investor capital from maturing TIGRS* Eyeing two new international mutual funds per year Still believes strategy right recipe for Bahamian investors SEE page 4B By NEIL HARTNELL Tribune Business Editor Finance Corporation of the Bahamas (FINCO sure it can sustain dividend payments before its resumes profit returns to shareholders, its managing director has told Tri bune Business, with the mortgage lenders efficiency ratio currently between 36-40 per cent. Speaking just days after Roy alFidelity analysts suggested it would be reasonable to expect the BISX-listed lender, which is 75 per cent majority-owned by Royal Bank of Canadas FINCO: NO START-STOP DIVIDEND RESUMPTION BISX-listed mortgage lender wants to be certain it can sustain profit returns to shareholders* Efficiency ratio lies between 36-40% 10.47% non-accrual loan portfolio deteriorates further after year-end SEE page 5B TANYA MCCARTNEY By NEIL HARTNELL Tribune Business Editor Julian Francis, the Bahamas Telecommunications Companys (BTC chairman, will be appointed as chairman of Commonwealth Brewerys Board once its upcoming $62.5 million initial public offering (IPO pleted, Tribune Business can confirm. Sources familiar with the situation confirmed that Com monwealth Brewery had already discussed the post with Mr Francis as part of an extensive due diligence undertaken on the former Central Bank governor and other candidates, with the company set Francis to be Brewery chair Commonwealth set to appoint ex-Central Bank governor and current BTC exec chair once $62.5m IPO is completed* Kerzner PR chief, Ed Fields, also set for Board appointment JULIAN FRANCIS SEE page 8B By NEIL HARTNELL Tribune Business Editor A direct competitor to the Bahamas Telecommunications Company (BTC a dmitted it is not happy the mobile monopoly will remain in place and has been extended post-privatisation, but acknowledged that the clock is ticking on that last remaining protectionist barrier. Paul Hutton-Ashkenny, president of IndiGo Networks operator, Systems Resource Group (SRG said that with just the Parlia mentary debate standing between Cable & Wireless Communications (CWC and its $210 million acquisition of a 51 per cent controlling interest in BTC, it was time for the communications sector and the entire BTC rival not happy on cellular monopoly SEE page 7B By ALISON LOWE Business Reporter alowe@tribunemedia.net The prospects for Bacardis former Clifton Pier processingf acility to be turned into a bio fuel-manufacturing plant are not rosy, a former Cabinet minister behind the idea has admitted, as the group seeking to advance the proposal have run into problems in identifying where they will source raw material from and a destinationt o export the final product to. Such considerations had been deemed key to pinning down financing for the biofuel project, which businessman and ex-politician, Tennyson Wells, last year said he hoped could service the Bahamas and the Caribbean and create hun dreds of jobs for Bahamians. M r Wells revealed his investor group was hunting for the financing for the biofuel project in an October 2010 interview with this newspaper, having already got hundreds of thousands of dollars tied up in the purchase option it has on the former Bacardi Clifton Pierf acility. WELLS: BIOFUEL FACILITYS PROSPECTS ARE NOT ROSY SEE page 6B By NEIL HARTNELL Tribune Business Editor The Bahamian Contractors Associations (BCA has urged the Government to follow the Baha Mar template and ensure Bahamian construction companies get 20 per cent of the infrastructure project work to be performed by China Harbour Engineering Company, expressing concern about the deal given the work shortages and unemployment currently plaguing the sector. Speaking to Tribune Business after the Government signed a Memorandum of Understanding (MoU owned company last week, Stephen Wrinkle said the Bahamas was going to have to be very careful how we proceed with this relationship with Beijing. Acknowledging that the Government, which is struggling with a wide fiscal deficit and growing $4.2 billion national debt, would obtain numerous benefits from dealing with China, namely the low interest rates associated with the financing, Mr Wrinkle said the turnkey solution entities such as China Harbour Engi neering Company provided -finance, design and build were also attractive. However, he argued that this had to be balanced with the fact that Chinese labour was the main component in these works, at a time when many Bahamian contractors were facing work shortages, while unemployment in the Bahamian con struction industry was widespread. Thats the difficulty facing every country; the value of these works far exceeds the cost of the Chinese labour component, Mr Wrinkle told Tribune Business. We hope to get some dialogue going soon with the Government and the Chinese company to ensure there is some Bahamian component. At the moment, we are concerned because there is a shortage of work, and while we understand the inclination of the Government to go ahead with these works based on the financing component, we have to have some Bahamian component. We cannot let all these people come in and take the work Govt urged: Mandate 20% Bahamian participation SEE page 6B

PAGE 17

By ROYALFIDELITY CAPITAL MARKETS I t was a busy week of trading in the Bahamian stock market. Investors traded in six out of the 24 listed securities, with one advancer and three decliners. EQUITY MARKET A total of 62,230 shares changed hands, representing an increase of 32,550 shares compared to the previous week's trading volume of 29,680 shares. AML Foods (AML advancer, trading a volume of 2,000 shares, its stock price increasing by $0.05 to close at $1.09. Commonwealth Bank (CBL the volume leader, trading a volume of 47,281 shares, its share price falling $0.02 to close at $6.78. Bank of the Bahamas (BOB the big decliner, trading a volume of 4,238 shares to see its stock price decrease by $0.10 to close at $4.40. Focol Holdings (FCL ume of 4,700 shares, its listed price falling $0.01 to close at $5.47. Finance Corporation of the Bahamas (FIN 2 ,621 shares to close unchanged at $5.88. BOND MARKET No notes traded during last week. COMPANY NEWS Earnings Releases: There were no earnings reports released last week. AGM Notice: Finance Corporation of the Bahamas (FIN AGM will be held at the British Colonial Hilton Hotel on March 17, 2011, at 6.30pm. B USINESS PAGE 2B, MONDAY, MARCH 14, 2011 THE TRIBUNE RoyalFidelity Market Wrap INTERNATIONAL MARKETS FOREX Rates Currency Wkly % Chge CAD1.0340 0.42 GBP1.6087 -1.11 EUR 1.3912 -0.54 Commodities Commodity Wkly % Chge Crude Oil 113.40 -2.31 Gold1,411.50 0.61 INTERNATIONAL STOCK MARKET INDEXES IndexWeekly% Change DJIA12,044.40 -1.03 S&P 5001,304.28 -1.28 NASDAQ 2,715.61 -2.48 Nikkei10,254.43 -4.11 EQUITY MARKET TRADING STATISTICS W eek ending 11.03.11 BISX SYMBOL CLOSING PRICEWKLY PRICE CHANGEVOLUMEYTD PRICE CHANGE AML$ 1.09$-0.052,00012.37% BBL$ 0.18$-00.00% BOB$ 4.40$-0.104,238-10.20% BPF$ 10.63$-00.00% BSLN/A$-00.00% B WL$ 2.70$-00.00% CAB$ 10.21$-0-2.39% CBL$ 6.78$-0.0247,271-3.14% CHL$ 2.40$-1,4000.00% CIB$ 9.39$-010.00% CWCB$ 2.11$-0.12015.30% DHS$ 1.40$-0-12.50% FAM$ 5.25$-0-13.51% FBB$ 1.96$-0-9.68% F CL$ 5.47$-0.014,7000.18% FCLB$ 1.00$-00.00% FIN$ 5.88$-2,621-18.67% ICD$ 7.40$-00.00% JSJ$ 9.82$-00.00% PRE$ 10.00$-00.00% Market wrap continues on page 8B

PAGE 18

By ALISON LOWE Business Reporter alowe@tribunemedia.net The economic threat of a day without gasoline being served at pumps throughout the Bahamas looms, as petroleum retailers today meet with the Government to ask for a rise in the fixed mark-up they are allowed to collect on a gallon of gas or diesel, given business conditions which some claim could put them out of business altogether if not addressed. Providing evidence of their plight, the Margin Relief Committee of the Bahamas Petroleum Retailers Association (BPRA on Friday when an estimated 8 0 per cent of all gas/diesel retailers shut down their diesel p umps for 12 hours. Their protest had been set to continue for another 12 hours,until midnight on Saturday morning, but was brought to an early close following an intervention by minister of state fort he environment, Phenton Neymour, who has responsibility f or relations with the petroleum industry. One business in the transportation industry told Tribune Business that had he not hearda rumour of the planned shutdown of diesel sales ands tocked up on fuel in advance, the move wouldve had a deva stating effect on his operations. Oswald Moore, chairman of the Margin Relief Committee of the BPRA, said the inten tion among the industrys mem-bers was that no prior warning would be given of when the fuel sales shutdown would take place and, as it stands, a final decision on whether or not there will be a similar protest involving gasoline used by most of the motoring public will take place. The Margin Relief Commit tee is asking the Government to allow retailers to collect 30 cents, rather than nine cents of profit, on every gallon of gas, and 20 cents rather than four cents per gallon of diesel. Without it, Mr Moore said some retailers are likely to giveup on the industry altogether, given that as oil prices rise, costs rocket and profits shrink. Hopefully this will all be solved in an amicable, peace ful, manner. We apologise to the public for any inconvenience that may be caused, but weve been agitating for a long time. Its not right for retailers to continue to pour their assets into keeping the business afloat a nd get into a worse and worse financial situation...the industry needs to be able to stand on its own two feet, said Mr Moore, adding that margins have remained fixed at that present level for around 30 years. Oil prices fell on Friday as news spread of a massive earthquake and tsunami having struck Japan, giving reason to suspect that demand for oil from the worlds third largest importer would fall. The fall bucked a trend of price rises in recent weeks in light of the civil unrest in Libya, a major oil producer. Mr Moore said that in his call to the BPRA on Friday, which brought an end to the BPRAs diesel shutdown, Mr Neymour said the Government under-s tands our plight and they are willing to work with us towards a solution. From their end its a little more complex, and they have various other things to look into, which we understand, added Mr Moore. The official meeting between Mr Neymour, who had for some time indicated his willingness to meet with retailers to discuss the price controls, was set up for today. Meanwhile, reflecting some of the difficulties the Government will face in addressing the retailers demands, a transportation business owner told this newspaper on Friday that even without the increase in the price of diesel at the pump that would come with any concession from the Government to the petroleum retailers, he has found the overall increase in prices is affecting us big time. And the problem is we cant go up in our rates because right n ow were struggling to get business here as it is, he added. BUSINESS T HE TRIBUNE MONDAY, MARCH 14, 2011, PAGE 3B Gasoline strike threat looming

PAGE 19

Were likely to be doing two TIGRS a year, one at the end of June, one at the end of the year. R oyalFidelitys TIGRS f amily has enjoyed a mixed performance, their launch having coincided with the onset of the global recession arguably the severest, andd eepest, downturn since the 1 930s Great Depression. T he TIGRS 1 sub-fund, which matures this June, after being launched in December 2007, has rebounded somewhat from the negative 12.71p er cent return on investment s uffered during its first year. It generated positive returns of 7.02 per cent and 5.4 per cent, respectively, during 2009 and 2010, clawing back much of the ground lost during its for-m ative first 12 months. At year-end 2010, the T IGRS 1 sub-fund, whose investments are split 25 per cent each into four indexlinked funds, was showing a n n egative return of just 1.53 per cent since inception, with its net asset value (NAVc losing at $9.89 per share at end January 2011. Mr Anderson said the TIGRS 1 sub-funds performance was being impacted because some of the indices i t had invested in were still b elow water, but pointed out that the principal protection principal behind the fund family meant that the downside risk for Bahamian investors was eliminated, meaning they would recover all their initial capital investment plus benefit from anyu pside. In the overall scheme of things, we still think its the right recipe, the RoyalFidelity president said of the international investment fund strategy. We still have as trong belief that over the next three-five years, the growth in the global econom y will fuel growth in those e merging market economies, and their earnings and prices. In terms of the protection side, its a good fall back posit ion for people without the r isk of losing capital....... To get your money back is a g ood thing. The principal protection works through investing a portion of investor capital into Bahamian-based fixed income s ecurities, such as bonds, preference shares, governmentr egistered stock and bank d eposits, the certain returns from this ensuring no losses are suffered on the international investments. Elsewhere in the TIGRS family, the TIGRS 2 indexlinked sub-fund, which isi nvested in the same indices as its TIGRS 1 cousin, has benefited from being launched at a later date, June 2009, when the markets had recovered somewhat. During its first six months, i t generated positive returns of 13.38 per cent and, while these slowed during 2010, T IGRS 2 still finished the y ear with a 2.61 per cent upside, taking total returns s ince it launched to 16.33 per cent. T he TIGRS 2s NAV was $ 11.05 at the end-January close. T he TIGRS 3, the fund that was unveiled in March 2010 to invest in three commodities-linked indices copper, nickel and gold remains in p ositive territory with a 0.25 per cent return, yet it is the e quities sub-fund that remains t he most disappointing performer, having generated a negative 16.02 per cent return to end-December 2010. A s for TIGRS 4, which was offered to Bahamian investors towards the end of last year,M r Anderson acknowledged RoyalFidelitys continued disappointment that it had only raised $1.5 million, or less than 30 per cent, of its $1.5 million target. Its unfortunate, as we did not get the institutional sup-p ort we were expecting, he told Tribune Business, and the timing was such that people were not convinced that the emerging markets were the place to put their money. Its one of those things p eople need to get educated on. It will improve. I think it just comes from uncertainty a nd reluctance to take the r isk, even though theres no risk to capital. People stuck with safety; the investments they know. R oyalFidelity's TIGRS 4 f und was structured to provide 60 per cent equity expo s ure to emerging market economies such as China, Brazil, Taiwan, Korea and Singapore, balancing this with 20 per cent exposure to the S &P 500 Index and the MSCI European, Australasian and F ar East Indices. T his reflected RoyalFidelity's belief that emerging markets will provide better growth and investment return o pportunities over the next five years than developed country economies, growinga t 6-8 per cent as opposed to 2-3 per cent. B USINESS P AGE 4B, MONDAY, MARCH 14, 2011 THE TRIBUNE %DKDPDV(OHFWULFLW\&RUSRUDWLRQ7HQGHU7KH%DKDPDV(OHFWULFLW\&RUSRUDWLRQLQYLWHV 7HQGHUVIRUWKHVHUYLFHVGHVFULEHGEHORZ 7 *URXSHGLFDOt/LIH,QVXUDQFHHUYLFHV %LGGHUVDUHUHTXLUHGWRFROOHFWSDFNDJHVIURP WKH&RUSRUDWLRQ$GPLQLVWUDWLYHIFH%OXH +LOOt7XFNHURDGV &RQWDFW 0V&KDUOHQHPLWK DW WHOHSKRQH 6XEPLVVLRQVVKRXOGEHPDUNHGDVIROORZV 0U.HYLQ%DVGHQ *HQHUDODQDJHU %DKDPDV(OHFWULFLW\&RUSRUDWLRQ ([HFXWLYHIFHV%OXH+LOOtXFNHU 5RDGV 1DVVDX%DKDPDV 7 *URXSHGLFDOt /LIH,QVXUDQFHHUYLFHV 'HDGOLQHIRUGHOLYHU\WR%(& 7KH&RUSRUDWLRQUHVHUYHVWKHULJKWWRDFFHSW RUUHMHFWDQ\RUDOOSURSRVDOV )RUDOOLQTXLULHVUHJDUGLQJWKHWHQGHUVSOHDVH FRQWDFW $QWLRQHWWHXUQTXHVW DWWHOHSKRQH / (*$/,&(3(36,&2/$%$+$0$6f %277/,1*&203$1
PAGE 20

Bahamian subsidiary, to resume dividend payments during its 2011 financial year, Tanya McCartney said FINCOs do not want to start and stop investor returns. Pointing out that FINCOs improved $18.2 million profit for the year to end-October 2010, a $13.6 million improvement on 2009, was driven entirely by a $13.7 million drop in credit allowances as a result of changes to its loan loss provisioning policy, Ms McCartney told Tribune Business: The chairman of my Board would say to you that the improvement in results is purely the change in provisioning policy, and not the result of improvements in the non-performing loan portfolio. The Board is going to continue to look at our non-performing loan position as well as provisioning. Theyre the two main factors were looking at non-performing loans and the level of provisioning on a quarterly basis. There are other factors as well, but there are the two main ones that have factored into our deliberations in the past as to whether to make a dividend payment. And she added: Those two things are impacting our abilityto pay dividends. We want to be in a position where we resume dividend payments and are able to sustain them. We do not want to start and stop. FINCOs financials disclosed that its non-accrual (non-performing) loan portfolio, con sisting of credit more than 90 days past due, accounted for 10.47 per cent of its $847.212 million portfolio at year-end 2010 some $88.64 million. Ms McCartney acknowledged that there had been further slippage in the non-accrua l column since end-October 2010, and told Tribune Business: We are being cautious and doing all we can internally to manage our delinquent portfolio. It continues to deteriorate, even though the pace of deterioration has slowed. Until we see some positive trends, w ere going to be cautious and conservative. While some borrowers had over-extended themselves, the FINCO managing director acknowledged that much of the non-performing loan deterioration had resulted from the general economic environment, a s clients who had been made redundant or seen a reduction in their incomes were simply unable to repay their loan obligations. I cant stress that enough, Ms McCartney said of how the general economic malaise was impacting FINCOs perform ance. We are optimistic that once the economy turns around and employment levels start to improve, we will see some improvement in the non-performing loan book. It depends on whether this economy really starts to turn a round. There are a lot of things happening in terms of n ew investment Baha Mar, the new airport. Hopefully, we will have some more to inject life into this economy and benefit us. But until people get back to work and are able to pay their bills, we wont see m uch of a change. Once things start to reverse, we will be in a much better position, because we will be able to reverse those provisions back into the net income line. Reiterating the message she delivered to shareholders when t hey contacted her with concerns over FINCOs current financial performance, Ms McCartney told Tribune Business: You can see its a direct result of the non-performing loans. If you look at our efficiency ratio, loan growth and keeping e xpenses flat, you can see we run an efficient operation. Its tied to provisioning and nonperforming loans. Ms McCartney told this newspaper that FINCOs efficiency ratio was in the 36-40 per cent range, and said the fact that it was purely a (largely resi dential) mortgage lender had sort of magnified our situation. Mortgages Mortgages have been the loan segment hardest hit in the recession, and FINCO has no other product on which to fall b ack unlike rival commercial banks, but Ms McCartney acknowledged this cut both ways, given that its loans were largely secured on the underlying real estate. We are in a very good posi tion because of the security of t he real estate, she told Tribune Business. Were holding it. If you look at every other line in the figures, you will see we are in pretty good shape. The change in loan loss provisioning reduced FINCOs credit loss provisions by $8.9 million $8.9 million during its 2 010 financial year. It reduced the allowance for credit (loan losses from the 40 per cent of non-accrual loan threshold used in 2009 to 30 per cent last year. This move, following a Board a nd management review of FINCO's provisioning policy, which assessed factors such as the quality of security held over its mortgage portfolio and recovery rates, resulted in a considerable boost to the mortgage lender's 2010 financial results. This review resulted in the C orporation [FINCO] reducing its provisioning policy ratio to 30 per cent of non-accrual loans, and a reduction of $8.9 million in the amount charged for provision of credit losses," the financial statements, audited by Deloitte & Touche, stated. While current provisions are considered conservative, the Corporation will continue to review its provisioning policy and methodology to ensure that levels remain appropriate and conservative." The $8.9 million reduction in FINCO's loan loss provisions went straight back into the income statement, and were a key factor behind the lender's dramatically improved performance in 2010 compared to the previous year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f5DWLQJ IURP%HVWUHHFWLQJWKHFRPSDQ\QDQFLDOVWDELOLW\DQG VRXQGULVNPDQDJHPHQWSUDFWLFHV 3OHDVHDSSO\EHIRUHDUWK *U7UDLQLQJDQDJHU %DKDPDV)LUVW&RUSRUDWHHUYLFHV 3 1DVVDX%DKDPDV 2UHPDLOWR FDUHHUV#EDKDPDVUVWFRP I n order to strengthen our team in Nassau, we have an e mployment opportunity for a Responsibilities will include : M inimum requirements : T he ideal candidate must possess strong analytical skills, and have a n extensive knowledge of IFRS and Basel II banking regulations. t han March 23rd 2011 to: FINCO: NO START-STOP DIVIDEND RESUMPTION FROM page 1B

PAGE 21

because they have the financing. At some point, were going to have to reserve some component for Bahamian participation. Whether its as part of a Bahamian joint venture, I dont know. Expressing hope that the Government stipulated some form of Bahamian involvement in the MoU with China Harbour Engineering Company, Mr Wrinkle said the BCA and wider construction industry would like the model achieved over the $2.6 billion Baha Mar project, where some $400 million or 20 per cent of the total construction work, was reserved for Bahamian contractors. If we can get 20 per cent of the work they will be doing, thatll be good, Mr Wrinkle told Tribune Business of China Harbour Engineering Company. Thats in keeping with the amount we have with that [Baha Mar] foreign direct investment project. We hope the Prime Minister has sought to include some form of Bahamian participation. Hes aware of the problem, and is doing his best to make sure we get part of it. Mr Ingrahams a shrewd negotiator, and I have every confidence that he will do his best for us. What that is, I dont know. And the BCA president added: Certainly, islands like Exuma, where unemployment is high and the pool of labour is readily available, wed like to ensure maximum Bahamian participation. Im sure the Government has the same sentiments, and we always have the ability to say no to their offer. A little prudence goes a long way. Neko Grant, minister of works, said at the MoU signing that China Harbour Engineering Company would partner with Bahamian contractors on every work phase, but few details were provided. The projects being undertaken by China Harbour Engineering Company include designing and building the North Abaco Port and by-pass road; a bridge between Little and Great Abaco; a port and by-pass highway in Exuma; and the Eleuthera Glass Window Bridge and approaching embankments. New port facilities will be constructed at Conch Rock, near Coopers Town, North Abaco and at the Navy Dock site near George Town, Exuma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t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t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t that time, Mr Wells said he expected the issue of financing for the biofuel plant, which would convert raw organic material into fuel which could be used to power vehicles, would have to be resolved within the next six months or the group would lose its purchase option on the facility and the money they had invested in it. Last week, Mr Wells said talks continue w ith potential stakeholders about where the necessary biomass to make the fuel could be sourced for from, including the feasibility of growing some of it in the Bahamas. Meanwhile, in terms of export markets, given that there is not enough demand in the Bahamas for the quantity of fuel set to be produced at the plant, Mr Wells admitted there has been no headway made in thisa rea. However, he said the investor group is still hoping to do it, and the owners of the plant have agreed that they will not lose their purchase option just yet, despite the deadline having elapsed. They havent put a limit on it. They have said if you can put together the package then we will deal with you, said Mr Wells. Biofuel facilitys prospects are not rosy: Wells FROM page 1B T ENNYSON WELLS F ROM page 1B Govt urged: Mandate 20% Bahamian participation

PAGE 22

Bahamas to move on. I just wish the day would come when we can compete in the mobile area, Mr Hutton-Ashkenny told Tribune B usiness. Thats the one area that remains a concern to us, but there is nothing we can do to change that. The only good coming out of it as far as mobile is concerned is the clock is ticking now. The end is in sight, w hereas the day before yesterday, there was no end in sight. To preserve BTCs value a nd encourage CWC to pay the $210 million purchase price, as well as minimise the voluntary redundancy exer-c ise that will take place over the next year at BTC, the Government is moving to amend the CommunicationsAct and regulations to extend BTCs post-privatisation cell ular monopoly from two to three years. T his means that the bidding p rocess for a second B ahamas-based cellular licence will only start in April 2 014. Given that it will possibly take one year to award the licence, and another year for the winner to get their infrastructure ready, it is possible cellular competition may only become a reality in 2016.A nd the third cellular licence will only be offered five years after privatisation is completed. Were obviously not happy that the mobile monopoly is going to remain in place fora number of years, but at least there is an end to it once the sale is closed, Mr HuttonAshkenny told Tribune Business. There is light at the end of the tunnel, but the consumer will have to have a little bit of patience yet. Of the Utilities Regulation & Competition Authoritys ( URCA) decision to approve C WCs acquisition of BTC, M r Hutton-Ashkenny said: Im not in the slightest bit s urprised. It was a foregone conclusion. Its time to move on, and it looks like well be moving on with CWC in control at BTC and ourselves merged with Cable Bahamas. The latter was itself not happy with several details sur-r ounding the impending CWC acquisition of BTC. Tribune Business was able to confirm that the BISX-listed company, which is set to be a privatised BTCs leading competitor in the local market, was indeed the respondent to the URCA consultation who suggested that the privatisation by CWC would create a substantial lessening of competition in several markets, as it meant the companys Caribbean business, LIME, would not enter the Bahamas as a competitor to BTC. N oting BTCs dominant s hare of the fixed-landline a nd cellular markets, where according to URCA the stateo wned incumbent holds a 98 per cent and 100 per cent market share, respectively, Cable Bahamas argued that t he extension of BTCs postp rivatisation cellular monopoly from two to three (likely four) years, had effectively extended the companys ability to cross-subsidise its other businesses with profits from the cellular side. The transaction will cause a lessening of competition in t he fixed markets, as it extends the licensees ability to leverage its mobile monopoly to impede the growth of c ompetition in the fixed voice, broadband, domestic long dist ance and international long distance market, Cable Bahamas said. The transaction will cause a lessening of competition in t he international services markets because [CWC] will have an incentive and the ability tof avour [BTC] over other operators licensed to provide i nternational services to cust omers in the Bahamas. And Cable Bahamas also expressed concern that CWC, with its One Caribbean operating model, would be in a position to cross-subsidise BTC by providing operational, management and administrative services to ita t lower prices, enabling the privatised entity to engage in anti-competitive cost shifting. These practices may not be addressed by, or be detectable under, URCAs current cost accounting and a ccounting separation rules, it added. URCA, though, dismissed all these arguments. A Tribune affiliate holds a small, passive stake in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rival not happy on cellular monopoly FROM page 1B

PAGE 23

to invite him to take the chairmanship once the IPO is completed. News of Mr Franciss impending appointment also came out during presentations given by Commonwealth Brewery to leading institutional investors, regarding the IPO, last week, Tribune Business understands. And this newspaper can also confirm that the other Bahamian set to be appointed to Commonwealth Brewerys Board is Ed Fields, Kerzner International (Bahamas tions. He and Mr Francis, who will effectively act as non-executive directors and look after the interests of Bahamian investors who acquire the collective 25 per cent stake offered in the IPO, will be joined on the Commonwealth Brewery Board post-offering by LeRoy Archer, managing director, and three other representatives of 75 per cent majority shareholder, Heineken BV. While the Board will be at least six strong post-IPO, its numbers could increase to seven, as the Government has the right to appoint one member if it is called upon to act as standby purchaser in the event that the IPO is not fully subscribed. Mr Francis, who played a key role on BTCs privatisation committee as its vice-chairman, declined to comment when contacted by Tribune Business, buta source familiar with developments said: The discussions he had with them went very well, and the feedback he got from a number of sources close to the people [Commonwealth] is that they intend to invite him to join the Board, and possibly as chairman as well. Michael Anderson, RoyalFidelity Merchant Bank & Trusts president, who is acting as the offerings placement agent, confirmed to Tribune Business the appointments of both Mr Francis as chairman and Mr Fields as a director. At the end of the offering, both of those people will be appointed, he confirmed, explaining that Commonwealth Brewery had decided not to appoint them beforehand because then they would have been required to sign off on every aspect of the offering memorandum, something that needed them to become familiar with every aspect of the companys financials and oper ations. Mr Anderson, meanwhile, confirmed that the Common wealth Brewery IPO was set to launch on March 21, 2011, the Securities Commission having given approvals that allowed the prospectus to be sent to the printers last week. The remain ing issues to be resolved just require certain documents to be sent to the capital markets regulator. Apart from the Internet, Mr Anderson said there would be 23 distribution points for the prospectus via all RoyalFideli ty, Fidelity Bank (Bahamas Royal Bank and FINCO branches. In addition, all Com monwealth Brewery outlets will carry smart cards and signage with information on where copies can be found. Weve had some great responses so far, Mr Anderson said of investor interest in the $62.5 million IPO. I just dont know what it means. I think its getting some atten tion. Pre-offering weve done TV, radio and newspapers, and were trying to get out early to make more people aware. Weve done everything we could. B USINESS PAGE 8B, MONDAY, MARCH 14, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .130.95AML Foods Limited1.091.090.000.1230.0408.93.67% 10.639.05Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 5.754.40Bank of Bahamas4.504.40-0.104,0000.1530.10028.82.27% 0.530.17Benchmark0.180.180.00-0.8770.000N/M0.00% 2.842.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2 .201.96Fidelity Bank1.961.960.000.0160.040122.52.04% 12.409.44Cable Bahamas10.2110.210.001.0500.3109.73.04% 2.852.35Colina Holdings2.402.400.005000.7810.0403.11.67% 7.005.80Commonwealth Bank (S1)6.806.800.000.4880.26013.93.82% 2.861.90Consolidated Water BDRs2.162.07-0.090.1110.04518.62.17% 2 .541.40Doctor's Hospital1.401.400.000.1070.11013.17.86% 6.505.25Famguard5.255.250.000.3570.24014.74.57% 9.275.88Finco5.885.880.000.6820.0008.60.00% 11.408.77FirstCaribbean Bank9.399.390.000.4940.35019.03.73% 6.004.57Focol (S)5.405.470.073,7000.4520.16012.12.93% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5.595.50ICD Utilities7.407.400.000.0120.240616.73.24% 10.509.80J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 1 00.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 5 2wk-Hi 5 2wk-Low S ymbol B id$ A sk$ L astPrice D ailyVol E PS$ D iv$ P /E Y ield FINDEX: YEAR END 2008 -12.31%3 0 May 2013 20 November 2029THURSDAY, 10 MARCH 2011BISX ALL SHARE INDEX: CLOSE 1,456.81 | CHG 0.35 | %CHG 0.02 | YTD -42.70 | YTD % -2.85BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)M aturity 19 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% I nterest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/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 2.95272.8300CFAL MSI Preferred Fund2.94860.04%1.45%2.918256 1.58371.5141CFAL Money Market Fund1.58370.61%4.59%1.564030 3.20252.8522Royal Fidelity Bahamas G & I Fund2.7049-0.56%-15.54% 13.638813.0484Royal Fidelity Prime Income Fund13.43920.61%-0.22% 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% 10.12669.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.12661.27%1.27% 8.45104.8105Royal Fidelity Int'l Fund Equities Sub Fund8.45100.72%9.95% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Nov-10 31-Jan-11 107.570619 105.776543 30-Jun-10 31-Dec-10 NAV 6MTH 1.475244 2.910084 1.545071TO 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 28-Feb-11 11-Feb-11 31-Jan-11MARKET TERMS31-Dec-10 31-Jan-11CFAL Securities Ltd. (Over-The-Counter Securities)31-Jan-11BISX Listed Mutual FundsNAV Date 30-Nov-10 31-Dec-10 &KDPEHUV $OOHQ+RXVH 'RZGHVZHOOWUHHW 1DVVDX%DKDPDV $WWRUQH\VIRUWKH 3HWLWLRQHU $1(7%(9(5/<0,//(5 R I 3%2;)5(6+$1'526 %$+$0$6 B OND MARKET TRADING STATISTICS BISX SYMBOLDESCRIPTIONVOLUMEPAR VALUE FBB13FBB Series 0$1,000 C Notes Due 2013 F BB15FBB Series0$1,000 D Notes Due 2015 FBB17FBB Series0$1,000 A Notes Due 2017 FBB22FBB Series0$1,000 B Notes Due 2022 RoyalFidelity Market Wrap (continued from Page 2B Francis to be Brewery chair FROM page 1B E DFIELDS

PAGE 24

system itself. He decided the best way to proceed was to start with s omething small, outside the system, and let his achievements drive demand for the model to be replicated a strategy which has seen his project grow from a single b lock to a hundred-block a rea. It now embraces 10,000 s tudents. But Dr Glaze feels focusi ng only on certain schools is a mistake, as it sends the w rong message to students. S he said that while the w orst performing schools undoubtedly need special attention, no one should feell eft out of a reform process not even the best performing schools. She noted that her original m andate covered 4,000 primary schools far more than we have in the Bahamas. "Its a big system, and to be able t o organise people in such a w ay that they were helping all the schools was not easy,b ut we did it," she said. O f course, Dr Glaze's perspective is very different from that of lone ranger Geoffrey Canada. Far from being an outcast, she was embraced by the system; hired to trans form it from within. Before 2002 when things w ere really difficult," she explained, "the conservative g overnment of the time and t he teachers did not get a long. There were strikes, there was a lot of bad feelings, teachers were retiringi n droves." Then, the new provincial government under PremierD alton McGuinty came to office riding a promise to boost school performance by working with teachers, principals and the community. Dr Glaze said: "The premier did a number of things, one of the things he canv assed on was to reduce class sizes, build capacity in all areas, to focus on low performing schools to see how we would bring them up. There is a philosophy of 'excellence with equity' w hile we raise the bar for all s tudents, we have to close the g ap. It is very important to n ote that there was a strong support for educators. He c ame in with the notion that h e was going to improve perf ormance by supporting principals and teachers. He was going to build capacity. Andi t was to my mind a very positive message that really resonated with the teachers." According to Dr Glaze, t he Bahamas has a like-minded reformer inMinister of Education, Desmond Bann ister. S he said: "I think Mr Bann ister is very committed and h e really wants to do well. I really like him. The teachers and principals that I met, I think they want to do well. T here is a lot of hope and optimism here." Because it aims to change t he system from within, her m ethod would undoubtedly b e supported by our government which doesn't wantt hings to stay as they are, but d oesn't want to bring the entire system crashing down either. After all, they are the ones w ho run it. They employ the teachers who work in it, who all have a vote come election time. They are the ones whow ould have to face the Bahamas Union of Teachers if fundamental changes to the profession were to be made to the detriment of its members. But would it work here? H as Dr Glaze's experience in Canada prepared her for the realities of a place like the Bahamas? Can we, considering our deep-rooted social problems, afford to dispense with a hard-nosed, s corched earth approach to d ealing with underperformi ng teachers and parents? S he points out that as a n ative Jamaican, she is well aware of the challenges faci ng Caribbean students from d ifficult backgrounds. And b elieve it or not, she says, she has encountered many of the same challenges in Ontario. We have in Ontario a lot of those similar problems single parent families and so on that I found in other i slands, like Jamaica and Barbados. Its pervasive these days. But if you target those p roblem schools, it can be d one. I absolutely believe it c an work in the Bahamas if the focus is on building capacity.Good teaching is what is going to save the day h ere. "There are a lot of good things happening in the B ahamas. I am amazed when I meet with the principals, t he director, the superintendents. You have a great sys-t em, but it can be better, you c an still reach higher. You are not starting from zero here; I find the Bahamian teachers and principals a verys pecial group of people, but we can do better." But are all Bahamian teachers really like the hand-p icked group she interacted with at the Ministry of Edu cation's seminars? Are our teachers "highly competent" in terms of academics?Do they all have the will, but simply lack the skill? Are the p resent generation of Bahamian parents eager to help their children learn, but are simply lacking the proper kind of encouragement? What do you think? pnunez@tribunemedia.net Read part one of "Re-examining our failing e ducation system" at: h ttp://www.tribune242.com/ed itorial/Insight/03072011_INSI GHT-Education_insight INSIGHT T HE TRIBUNE MONDAY, MARCH 14, 2011, PAGE 9B &)$&,(7<7+(%$+$0$6 0217+/<($.(5/81&+(21(9(17 723,& (&+1,&$/$1$/<6,67+(%$6,&6 '$ :HGQHVGD\ W K 0DU 7,0( $GGUHVV 3OHDVHDUULYHSURPSWO\ 3/$&( &DJOLDULRRP /XFLDQRVRIDVVDX(DVW%D\WUHHW 63($.(5 %DUU\LQH LUHFWRURIHVHDUFK&DSVWRQH &267 1RQPHPEHUV &KHTXHVSD\DEOHWR&)$RFLHW\RI7KH %DKDPDVf 5(6(59$7,216 35((*,675$7,21(48,5('E\ 4 \ \ WK 'DYLGDPLUH]&)$ GUDPLUH]#SLFWHWFRP r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
PAGE 25

BENGHAZI, Libya Associated Press M OAMMARGadhafi's forces swept rebels from one of their final strongholds with hours of searing wavesof strikes from warships, tanks and warplanes on Sunday but the insurgents c laimed that they moved back in after nightfall. One rebel said that after their initial defeat, opposition forces destroyeda rmored vehicles and capt ured dozens of fighters from G adhafi's elite Khamis Brigade in the oil town of Brega, driving others back into the town's airport. A nother opposition fighter told The Associated Press by telephone that celebrationsh ad broken out in the nearby city of Ajdabiya, and celebratory gunfire, honking and s houting could be heard in t he background. "We are on our way to Brega to celebrate with ourb rothers there," he said. The opposition has seen a series of reversals in its battlef or control of Libya's main c oastal highway, which runs from Gadhafi's western stronghold in the capital, Tripoli, to rebel-held territory in the east. Gadhafi's forces seem emboldened byt heir string of victories but their supply lines are increas ingly stretched and they depend on artillery, airstrikes and naval attacks that are more difficult to launch at n ight. T he rebels have been pleading for Western pow ers to protect them with a n o-fly zone, and on Monday their leaders meet in Paris with U.S. Secretary of State Hilary Rodham Clinton, whop lans to assess their capabil ities and intentions. T he Arab League asked t he U.N. Security Council on Saturday to impose a no-fly zone. But the U.S. and many allies have expressed deep reservations about a tactic that would require them to destroy Gadhafi's air defenses and possibly shoot downh is planes, and they appeared no closer Sunday to imposing a no-fly zone. The poorly equipped and loosely organized fighters s aid throughout the day that they were fleeing Brega u nder heavy attack, losing a vital source of fuel for their vehicles and leaving Gadhafi's military less than 150 miles from the main opposi-t ion city of Benghazi. A spokesman for Gadh afi's military declared that it h ad seized control of the t own and was "dealing with the situation." A jdabiya is the only other major population center between Gadhafi's forcesa nd the rebel headquarters. I f his successes continue, the Libyan strongman will soon face the choice of consolid ating his control of the M editerranean coast or moving swiftly toward Benghazi a nd the prospect of a devastating battle. "Benghazi doesn't deserve a full-scale military action," army spokesman Milad Huss ein told reporters in the capital, Tripoli. "They are a g roup of rats and vermin and as soon as we go in, they will raise their hands and surrender." Gadhafi's navy, army and a ir force began pounding B rega with artillery, rockets and bombs Sunday morning a nd didn't let up all day, forcing doctors and wounded p eople from the town's hospital with a missile strike, several rebels told The Asso ciated Press after fleeing. There wasn't any time to breathe, to do anything," one fighter with responsibility for logistics said by telephone as h e fled Brega for Ajdabiya, about 50 miles (80 kilometers) by road to the east. Explosions went off in the background. Speaking on condition of anonymity for fear of retali-a tion, he said the opposition was bracing for conflict in Ajdabiya by evacuating doctors and the wounded from there, too. H e said some rebels had gathered in a seaside village a few miles east of Brega, hoping to halt Gadhafi's forces. He said more fighters from rebel strongholds in the east were heading toA jdabiya to prepare for a battle there. T he rebels were trying to s ecure the southern and easte rn roads to Ajdabiya and storing provisions and w eapons there after the loss of free access to gasoline in Brega. I think they are bombing h eavily because they want to win time before a no-fly zone is imposed," he shouted over t he phone. A n opposition leader in Ajdabiya said the rebels p lanned to retake Brega and were attacking Gadhafi's forces with guns and roadside bombs as they moved in reinforcements from gove rnment-held cities in the west. T he rebels are fighting to oust Gadhafi from power after more than 41 years, inspired by protesters who toppled authoritarian rulers i n neighboring Tunisia and E gypt. A week ago they held the entire eastern half of the c ountry and were charging toward the capital, Tripoli. T hen Gadhafi's troops began reversing those early gains with superior weaponrym and firepower from the air. W ith much of the fighting in the east taking place along a coastal highway bounded by strips of desert, there are f ew places for the rebels to t ake cover, forcing them to withdraw under fire before a ttempting to surge back. Also Sunday, Gadhafi's forces appeared to edge closer to Misrata, battling rebel fighters on the outskirts of L ibya's third-largest city, 125 m iles (200 kilometers east of Tripoli, residents r eported. One resident, who did not want his name used because he fears for his safety, said streets inside the city were e mpty as people took cover i n their homes and the noise of tanks, anti-aircraft fire and m achine guns grew evernearer. He said several tank shells had struck inside the city, hitting a mosque and an a partment building. I NSIGHT P AGE 10B, MONDAY, MARCH 14, 2011 THE TRIBUNE Gadhafi drives rebels from one of last strongholds AN ARMED Libyan rebel chants anti-Gadhafi slogans during a demonstration for students of the faculty of medicine of the University of Qar Younis, in Benghazi, Libya Sunday. Hundreds of students took the streets protesting what they called "The Libyan leader's war crimes" demanding the international community to impose a no fly zone over Libya. Nasser Nasser /AP

PAGE 26

INSIGHT The Tribune INSIGHT MONDAY, MARCH 14, 2011 The stories behind the news B y PACO NUNEZ T ribune News Editor LAST week, Insight discussed education reformer G eoffrey Canada's strategy f or rescuing the children of Central Harlem from failing schools, and asked whetherh is approach could work in the Bahamas. After reading the article, M inistry of Education offic ials suggested I meet with Dr Avis Glaze, another pioneer of school reform who brought a bout huge improvements in the school system in Ontario, Canada and who the govern m ent had brought to Nassau t o present a series of semi nars for teachers. A n educator for almost 40 years, Dr Glaze, originally from Jamaica, started as a teacher in the Canadian pub l ic system and moved up the ranks to become a superin tendent and then director of education. In 2003, she was selected by the provincial administration to improve stu d ent performance across the length and breadth of Ontario by setting up a Literacy and Numeracy Secretariat with am andate to "drive achieve ment with a sense of urgency." Her aim: to close the gap between the top performers and those who underachieve. "Middle class kids may c ome to school with a vocabulary of 12,000 words, poor children come with a vocabu l ary of 4,000 words. From the very beginning we see the gap. The purpose of public school, if people take it serio usly, is to narrow or close that gap. And we have to have the strategies and interventions to do that," she told Insight. Her method: hire people who know about curriculum formation and effective teaching, organise them into teams and assign them to schools, where they would equip principals and teachers with the tools and strategies necessary to help children learn. "If you want to bring about improvement, you have to focus on a number of things, two of which are instructional effectiveness and the quality of the leadership of the schools, among other things," she told Insight. Those other things include: early intervention in the lives of struggling students, an intensive focus on reading, extending "time on task" for all students, and monitoring the performance of teachers. The result of this approach: It didn't take long, with the strong focus with professional development that we gave, foru s to begin to see results. When I started, 19 per cent of our schools were low per-f orming; in four years, it d ropped to five per cent." The effort to "close the gap" in particular was so successful t hat they found the children of immigrants, for whom English was a second language,w ere in many cases out per f orming students from top schools. Asked if this method could h ave similar results in the Bahamas, she replied, "Absolutely." Dr Glaze's approach shares a number of similarities with the ethos behind Geoffrey Canada's Harlem Children's Zone (HCZ rely on the conviction that: poverty is not destiny early intervention is vital good teachers are the key to a good education extended school hours improve student performance established public education systems are woefully out dated and do not prepare students for today's world failure cannot be an option for any child "We cant have any throw-away kids," Dr Glaze said. There are also some important differences. The first of these, I would describe as the "hope factor." T HE CASE FOR OPTIMISM M r Canada's HCZ depends on a recognition that schools often suffer because of thel arge number of "bad" teache rs on staff who couldn't care less about their students, but who are virtually impossible t o get rid of. For Dr Glaze, however, it's not that the majority of teach-e rs don't care, it's that they d on't have the necessary tools to do the job; the system has let them down, just as it hast he students. She said that teachers here told of a similar situation to that which she found in Ontario it is not "the will" that is lacking, but rather the skill. From my experience, teachers are people of good will. Many would have thew ill and most of the skill, but you know, some don't have it all. It's a matter then, of how we're going to retool them so they can get the job done," s he said.Beating up on teachers is certainly not the answer. In Ontario we are not like in some parts of the world, where they believe in 'shame and blame', and one size fits all. Its a very humanistic philosophy, which says if you get people motivated, if you give them the skill, they will get the job done. And it worked for us. It doesn't work in every setting, but it worked for us. "We have highly competent teachers in terms of academics, so we then provided the interventions, the support, a very good strategy, we felt that we could get results and it did happen." This is not to say that cer tain "non-negotiables" were not applied. "Someone needed to say to those low per forming schools, 'You're not doing what needs to be done, the country cannot wait, the children cannot wait, we are going to come in and help you,' and they have no choice but to co-operate." Once her programme began to succeed in some schools, Dr Glaze found there was little need to force the issue. "They realised we were going into schools and we were helping them. We were not there to put them down, and I think it increased motivation and people said 'Come and help us', because the environment was non-threatening." Dr Glaze also regards with a certain amount of optimism, the parents of children from poor backgrounds a much maligned demographic in the Bahamas. While insisting she is not making excuses for them, Dr Glaze said: "Sometimes we get so upset with parents, but has anyone taught them par enting skills? Some people just don't know what to do. "I think people care about their kids, but they don't have the skill to raise them. "I remember once in Ontario, teachers were say ing 'Oh Avis they don't care. You have too much confi dence. When we have meetings, parents don't come.' "I took down phone numbers and called some of the parents. One of them told me, 'You have meetings at 7pm, I clean offices at night and I can't come.' So we started to change our meeting times, and parents started coming. "Too often schools say 'You adjust to us', rather than really going out and learning about their community. "Many parents, especially i f they didn't have very posit ive experiences at school, are afraid of coming there. So we went out to get them, and they started coming." FINANCIAL REALITIES Hopeful though she may be when it comes to teachers and parents, Dr Glaze delivers a sobering perspective when it c omes to the question of mone y. G eoffrey Canada admits his programme is not cheap the Harlem Children'sZ one spends about $5,000 per student per year. In order to cover the costs, he augments the partial funding his schoolsg et from the US government by attracting private grants and donations. B ut the Bahamas is not the United States. Neither is Canada, and Dr Glaze pointso ut that it is foolish to create a p roject for reform that depends on resources that will not be forthcoming. People often say 'Give me more money and I'll improve, but you know, with dwindlingr esources all over the world, the challenge for educators is to do more to improve edu cation with the resources we c urrently have," she said. Dr Glaze believes support and positive reinforcement are the keys to improving teaching standards. She dismisses the "merit pay"s chemes applied by some schools, including Mr Canada's, as too "messy."O ffering financial rewards based on student performance is bound to breed hostility and division, she said, as no two students are equal and teachers lumped with more challenging classes will quickly become bitter and disillusioned. CAN THE SYSTEM CHANGE FROM WITHIN? Perhaps the biggest difference between Geoffrey Canada's system and that of Dr Glaze hinges on the question of whether the problems facing public education can be resolved from within. When he first left college eager to make his mark on education in America, Mr Canada wanted to tackle the entire system. He soon found he was banging his head against a wall of obstruction erected by unbudgeable union leaders and the engorged bureaucracy which runs the Re-examining our failing education system: Part 2 SEE page 9B I am particularly concerned with closing t he gap; you cannot say we have an excellent system if you have a long tail of failur e. W hen we talk about raising the bar for everybody and closing the gap, it means we'r e not l eaving any schools out of the strategy. Dr Avis Glaze GEOFFREY CANADA DR. ALVIS GLAZE addresses educators and stakeholders during a three-day workshop held recently at the Sheraton Nassau Beach Resort. R a y m o n d B e t h e l / B I S