Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

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University of Florida
Holding Location:
University of Florida
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9994850 ( OCLC )

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Full Text
PAGE 6B, FRIDAY, MARCH 18, 2011

THE TRIBUNE





DISASTER |) JAPAN

Doubts rise over ECB rate
hike after Japan quake

DAVID McHUGH,
AP Business Writer
FRANKFURT, Germany

Market certainty is eroding
that the European Central
Bank will follow through with
an interest rate hike it has all
but promised, due to the
financial turmoil unleashed
by Japan's natural disasters
and unresolved nuclear crisis.

While many economists
have said the ultimate impact
on the global economy is still
difficult to assess — and might
be modest — the market jit-
ters could cause the bank to
pull back from its March 3
statements that many took as
a near-guarantee it would
raise its key rate.

Bank President Jean-
Claude Trichet said then that
the bank would exercise
"strong vigilance" on infla-
tion — taken as a code word
that an inflation-fighting
increase was imminent to pre-
vent inflationary expectations
from becoming built into the
economy. Consumer prices
increased 2.4 percent in April
in the countries that use the
euro — above the bank's goal
of just under 2 percent.

Since then, violent upris-
ings in the Middle East have
pushed oil prices to two-year
highs — and continue to





INTERNATIONAL
BUSINESS

threaten instability across the
region — and Japan's disas-
ters triggered days of panic
on financial markets.

"If in the run-up to the
April ECB meeting stock
prices were to remain under
severe pressure and volatili-
ty stayed elevated, the cen-
tral bank would have to
reconsider its position on
rates," Marco Valli, chief
eurozone economist at Uni-
credit Research, said Thurs-
day.

If the ECB holds off, it
would be a rare about-face
for Trichet and the bank's
governing council but not
unprecedented — the bank
reversed the course of its

NOTICE
BAHA MAR DEVELOPMENT
COMPANY LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14° day of March,
2011 the following resolutions were passed:

monetary policy at the start
of the financial crisis in 2007.

Financial markets suggest
investors are prepared for
such a scenario. Expectations
for overnight interest rates in
the eurozone a year from now
have slipped to 1.65 percent
from 1.9 percent immediately
after Trichet's statement. The
drop would amount to remov-
ing one quarter-point increase
from the bank's actions over
the next months.

Doubt

But not everyone agrees.
"At this stage, we doubt that
the horrific and tragic events
in Japan will deter the ECB
from acting, as the economic
effects on the eurozone cur-
rently look unlikely to be
appreciable,” said Howard
Archer at IHS Global Insight.

He expects a rate increase
of a quarter percentage point
at the April meeting.

There is only one precedent
for the bank announcing
"strong vigilance" and then
not following through.

That was in August, 2007,
when the bank reacted to the
sudden worsening of the sub-
prime mortgage crisis in the
United States by reversing
course and pouring credit into



(AP Photo/Michael Prbst)

TAKING A LONG VIEW: Head of European Central Bank Jean-Claude Trichet takes off his glasses during
a press conference in Frankfurt, central Germany, Thursday, March 3, 2011. Trichet announced that the
ECB keeps its main interest rate unchanged.

the banking system instead of
tightening down, according to
analyst Nick Mathews at
RBS.

The ECB's move will in
part depend on whether the
economic uncertainty over
Japan eases some of the
recent upward pressure on oil
prices, said Mathews.

If other stock markets sag

NOTICE

BAHA MAR HOTEL
HOLDINGS LTD.

like Japan's Nikkei, "that
would argue in favour of the
ECB delaying rate hikes."

So far, stock markets have
taken a sharp hit, though they
steadied on Thursday, with
European and U.S. indexes
up | to 2 percent.

The ECB's key rate is at a
record low of 1 percent,
where it has been since May

2009 to support growth
through the financial and debt
crises.

But now that Europe's
economy is recovering, the
bank has said it is wary of
workers and businesses build-
ing higher costs — largely
from rising food and energy
prices — into their wage and
price agreements.

NOTICE

BAHA MAR RESORTS LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-

RESOLVED that BAHA MAR DEVELOPMENT
COMPANY LTD. be wound up voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P. O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.
H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BAHA MAR RESORT
VENTURES LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BAHA MAR RESORT VENTURES
LTD. be wound up voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P. O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14% day of March, 2011.
H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BML LAND LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BAHA MAR WE LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P. O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.

H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14% day of March,
2011 the following resolutions were passed:

RESOLVED that BAHA MAR HOTEL HOLDINGS
LTD. be wound up voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14% day of March, 2011.
H& J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BAHA MAR WE LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BAHA MAR WE LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.
H& J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

N.B.H. HOLDINGS LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BML FOUR LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The

Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.

H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

named Company duly convened and held on the 14" day
of March, 2011 the following resolutions were passed:

RESOLVED that BAHA MAR RESORTS LTD.
be wound up voluntarily.

RESOLVED that TONI GODET of Lyford
Manor, West Building, P. O. Box N-7776 (Slot 193)
Nassau, The Bahamas be appointed the Liquidator
for the purpose of such winding up.

Dated the 14" day of March, 2011.
H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BML FOUR LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BML FOUR LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.

H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BML TWO LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BML TWO LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The

Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.

H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company





THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 7B



BUSINESS
DISASTER | JAPAN

Stronger economic reports help
stocks rebound despite Japan crisis

NEW YORK

Signs that the U.S. economy
is improving helped investors
put aside fears over Japan's
nuclear crisis Thursday, if only
temporarily.

A gauge of manufacturing in
the mid-Atlantic region jumped
in February to the highest point
since January 1984. The survey
from the Federal Reserve's
Philadelphia branch showed
new orders soared. Production
at U.S. factories, mines and util-
ities dipped last month but was
actually higher in previous
months than first estimated,
according to the Federal
Reserve.

The Labor Department
reported that the number of
people applying for unemploy-
ment benefits fell more than
economists expected last week.
Ongoing claims dropped to the
lowest level since October 2008.

"It's a reminder that the U.S.
economy continues to gain
momentum," said Alan Gayle,
senior investment strategist at
RidgeWorth Investments in
Richmond, Virginia. "Eco-
nomic growth leads to more
spending, more production and
ultimately rising profits,” he
said. "And at the end of the
day, that's what investors buy:
rising profits.”

Gains in the stock market
were broad. All of the 10
groups rose in the Standard &
Poor's 500 index, the basis for
most U.S. mutual funds. Twen-
ty-six of the 30 stocks that make
up the Dow Jones industrial
average rose, led by a 3.2 per-
cent increase in Hewlett-
Packard Co.

The Dow gained 161.29
points, or 1.4 percent, to
11,774.59. The index fell 242



WEATHERING A CRISIS: A man walks by an electronic stock board of a securities firm in Tokyo Monday,

Feb. 28, 201.

points Wednesday, its largest
drop since August.

The Standard & Poor's 500
rose 16.84, or 1.3 percent, to
1,273.72. With Thursday's gains,
the Dow and S&P 500 are up
more than 1 percent for the
year.

The Nasdaq rose 19.23, or 0.7
percent, to 2,636.05. The tech-
nology-heavy index is down 0.6
percent for the year.

FedEx Corp. rose 3 percent.
The world's second-largest
delivery company said revenue
rose 11 percent in the most
recent quarter, mostly due to
higher shipping rates. FedEx
said those higher rates may help
it beat earnings forecasts in the
future. United Parcel Service
Inc., FedEx's rival, rose 1.7 per-
cent.

The dollar dropped to an all-
time low against the Japanese
yen late Wednesday, reaching
76.53 yen to the dollar. By
Thursday afternoon, the yen
had weakened and was trading
at 78.97 yen to the dollar. When
the yen loses strength, it takes
more yen to buy one dollar.

A stronger yen would hurt
Japan's exporters, potentially
dealing another problem to an
economy already wracked by
an earthquake, tsunami and
evolving nuclear crisis.

A separate report from the
Labor Department showed
consumer prices edged higher
in February. The Consumer
Price Index rose 0.5 percent last
month, slightly stronger than
forecasts. Core prices, which
exclude food and fuel costs,

JAPAN SPRAYS MORE CASH OVER JITTERY MARKETS

TOMOKO A. HOSAKA,
Associated Press
TOKYO

Japan's central bank sprayed
more cash over jittery money
markets Thursday as a major
bank's ATMs suffered a two
and a half hour outage nation-
wide and the yen shot toa
record high.

The Bank of Japan injected
an additional 6 trillion yen
($76.7 billion) in same-day
funds after the dollar hit 76.25
yen in the morning — an all-
time low for the greenback in
the aftermath of Friday's earth-
quake and tsunami that killed
thousands and triggered an
unfolding nuclear crisis. With
same-day funds, banks in need
can access cash immediately.

Mizuho Bank, Japan's third
biggest lender, said 5,600 auto-
matic cash dispensing machines
were back online by midday
after blacking out at about 9
a.m. It didn't explain the out-
age, which had added to
already rattled nerves.

The capital Tokyo endured
more rolling blackouts Thurs-
day and faces months of power
shortages because of earth-
quake damage to nuclear and
conventional power plants.

The utility that serves Tokyo
has been forced to slash power
supplies by a quarter. Power to
parts of the sprawling region,
which produces 40 percent of
Japan's economic output, is cut
for three hours a day.

Around the country, people
queued for fuel and emptied
supermarket shelves of food

and other necessities. Hundreds
of thousands of people in the
devastated northeast continued
to shelter in temporary accom-
modation.

Driving the yen to unprece-
dented highs were predictions
that big Japanese investors like
insurance companies would
repatriate funds from overseas
en masse to cover the cost of
tsunami damage to northeast-
ern Japan, said Masafumi
Yamamoto, chief foreign
exchange strategist at Barclays
Capital in Tokyo.

The repatriation hasn't hap-
pened yet, so the volatility is
"highly speculative," he said.
The market is now betting that
the finance ministry and Bank
of Japan will intervene to sell
the dollar and weaken the yen.
A strong yen hurts Japan's
exporters, potentially deepen-
ing the already severe hit to the
world's No. 3 economy from
the multiple disasters.

Analysts at Goldman Sachs
estimated that Japan's disaster
losses could reach $200 billion,
which is more than 3 percent
of Japan's gross domestic prod-
uct.

The hardest hit prefectures
(states) — Iwate, Miyagi,
Fukushima and Ibaraki — rep-
resent about 7 percent of
Japan's economy.

The region is home to steel
plants, oil refineries, nuclear
power plants and factories mak-
ing parts for cars and electron-
ics. Roads and other transport
networks are crippled, while
power supplies are constrained.

The latest offer of central

bank funding didn't prevent
stocks from losing ground
again. The Nikkei 225 stock
average closed down 1.4 per-
cent at 8,962.67 after plunging
on Monday and Tuesday before
partly recovering on Wednes-
day.

The Bank of Japan conduct-
ed emergency operations for
the fourth day in a row, adding
to the 55.6 trillion ($688 billion)
it provided money markets the
previous three days. Of that fig-
ure, 28 trillion yen were same-
day funds.

By flooding the banking sys-
tem with money, it hopes banks
will continue lending and meet
the expected surge in the
demand for post-disaster funds.

Financial markets nervously
monitored the rapidly chang-
ing situation at a crippled
nuclear power plant in the
northeast. On Thursday, Japan-
ese military helicopters dumped
loads of seawater onto the
plant, trying to cool danger-
ously overheated uranium fuel
rods that may be on the verge
of spewing more radiation into
the atmosphere.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, MARCEL ERICK
PIERRE-LOUIS of the Eastern District of the Island of New
Providence, Bahamas, intend to change my name to
MARCEL ERICK TURNQUEST. If there are any objections
to this change of name by Deed Poll, you may write such
objections to the Chief Passport Officer, RO.Box N-742,
Nassau, Bahamas no later than thirty (80) days after the
date of publication of this notice.

ICE

Pursuant to the provisions of Section 137 (8)
of the International Business Companies Act,
2000 (As Amended) NOTICE is hereby given
that, SAFGAS 1066 HOLDINGS LIMITED has
been dissolved and that the name has been
struck from the Register of Companies with
effect from the 23rd day of December, 2010.



(AP Photo/Koji Sasahara)

KWENENG CARBON HOLDINGS LIMITED
Montague Sterling Centre
East Bay Street
P.O. Box N-3924
Nassau, The Bahamas

edged up 0.2 percent, the same
as the previous month.

Three stocks rose for every
one that fell on the New York
Stock Exchange. Consolidated
volume came to 4.3 billion
shares.



Sheraton

A=:

The new 700 room Sheraton Nassau Beach Resort, The Bahamas is looking for
Director of Food & Beverage

Direct and organize the Food & Beverage function within the hotel in order to maintain high
standards of food and beverage quality, service, and merchandising to maximize profits.
Participate in total hotel management as a member of the hotel Executive Committee.

Essential Functions

« Plan and direct the functions of administration and planning of the Food and Beverage
Department to meet the daily needs of operation.

* Clearly describe, assign and delegate responsibility and authority for the operation of the
various food and beverage sub-departments, 1.e., room service, restaurants, banquets, kitchens,
stewards, etc.

* Develop, implement and monitor schedules for the operation of all restaurants and bars to
achieve a profitable result.

* Participate with the chef, outlet managers, and catering managers in the creation of attractive
and merchandising menus designed to attract a pre-determined customer market.

* Implement effective control of food, beverage and labor costs among all sub-departments.

« Assist the area managers in establishing and achieving predetermined profit
objectives and desired standards of quality food, service, cleanliness, merchandising
and promotion.

Skills & Abilities

« Must be able to speak, read, write and understand the primary language(s) used in the
workplace.

* Must be able to read and write to facilitate the communication process.

« Requires good communication skills, both verbal and written.

* Considerable knowledge of complex mathematical calculations and computer accounting
programs. Budgetary analysis capabilities required.

* Ability to access and accurately input information using a moderately complex computer
system.

« Ability to effectively deal with internal and external customers, some of whom will
require high levels of patience, tact and diplomacy to diffuse anger, collect accurate
information and resolve conflicts.

« Most tasks are performed in a team environment with the employee acting as a team
leader. There is minimal direct supervision.

Qualifications & Experience

* High School or equivalent education required, Bachelor’s Degree preferred.

« Several years experience in overall Food & Beverage operation as well as management
experience. Culinary, sales and service background required.

Qualified applicants are invited to visit our website or email resumes at:

snbrjobs@sheraton.com
Note: All information will be held in strictest of confidence
Deadline for all applicants is April 8, 2011










= FG
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CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

a

caw AT.

ROYAL FIDELITY

honey an Werk

Se

BISX LISTED & TRADED SECURITIES AS OF:
TUESDAY, 15 MARCH 2011

clec7l

BISX ALL SHARE INDEX: CLOSE 1,447.31 | CHG -10.59 | %CHG -0.73 | YTD -52.20 | YTD % -3.48




FINDEX: YEAR END 2008 -12.31%

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







S2wk-Low

O.17 Benchmark

2.70 Bahamas Waste
1.96 Fidelity Bank
9.43 Cable Bahamas
2.35. Colina Holdings

5.80 Commonwealth Bank ($1) 6.82 6.82 0,00.

Securit_y
0.95 AML. Foods Limited

9.05 Bahamas Property Fund
4.40 Bank of Bahamas

Previous Close Today's Close Change
1.09 1.09 0.00

10.63 10.63 0.00

4.40 4.40 0.00

0.18 0.18 0.00

2.70 2.70 0.00

1.96 1.96 0.00

Daily Vol. EPSS$ Div $ P/E

6 0 0.123 8.9
0.013 eer
0.153 28.8
-0.877 N/M
0.168 16.1
0.016 122.5
1.050 9.0
0.781 3.1
0.488 14.0
oO.111 18.9
0.107 13.1

10.21 9.43 -0.78
2.40 2.40 0,00.

0.357 14.7
0.682 8.6
0.494 18.9
0.452 12.1
0.000 N/M
0,012 616.7
0.859 11.4
1.207 8.3:

i 1.90 Consolidated Water BDRs 2.14 2.10 -0.04
- 1.40 Doctor's Hospital 1.40 1.40 0,00.
is 5,25 Famguard 5,25 5.25. 0,00.

5.65 Finco 5,88 5,88 0,00.
oF FirstCaribbean Bank 8.39. 9,35. -0.04
4.57 Focol (S) 5.47 5.47 0,00.

Household Furniture, Baby Items, : 1.00 Focol Class B Preference 1.00 1.00 0.00

5.50 ICD Utilities 7.40 7.40 0,00.

Antique Furniture, & Plants . a ee oS aS =
March 19, 2011 8 a.m.- 12 p.m.

BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)
Security Symbol Change Daily Vol. Interest
Bahamas Note 6.95 (2029) BAH29 99.46 0.00 6.95%
Fidelity Bank Note 17 (Series A) + FBB17 100.00 0.00 7%
Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00, Prime + 1.75%
Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7%
Fidelity Bank Note 15 (Series D) + FBB1S5 100.00 0.00 Prime + 1.75%
RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)
Symbol Bid S Ask Last Price Daily \ou.
Bahamas Supermarkets N/A N/A 14.00
RND Holdings 0.35 0.40 0.55
CFAL Securities Ltd. (Over-The-Counter Securities)
ABDAB 30.13 31.59 29.00
RND Holdings 0.45 0.55 0.55
BISX Listed Mutual Funds
Fund Name NAV YTD% Last 12 Months %
CFAL Bond Fund 1.6179 5.51% 6.90%
CFAL MSI Preferred Fund 2.9486 0.04% 1.45%
1.5141 CFAL Money Market Fund 1.5837 0.61%
2.8522 Royal Fidelity Bahamas G & | Fund 2.7049 -0.56%
13.0484 Royal Fidelity Prime Income Fund 13.4392 0.61%
101.6693 CFAL Global Bond Fund 114.3684 9.98%
99.4177 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
1.0000 FG Financial Growth Fund
1.0000 FG Financial Diversified Fund
9.1005

S2wk-Hi S2wk-Low Last Sale Maturity
20 November 2029
19 October 2017
19 October 2022
30 May 2013

29 May 2015

Directions: Prince Charles East past Super Value Win-
ton. Take the last corner before you reach the beach (the
corner is on the left, the name of the street is Adam St).
Drive until you reach the cross section, turn left going up
the hill. 4th House on the right.

NOTICE

NOTICE is hereby given that HAROLD HUGHES of
P.O. BOX F-42578, 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 18th day of
MARCH, 2011 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

EPSS$
-2.945
0.001

Div ME
0.000
0.000

4.540
0.002

0.000
0.000

NAV 3MTH
1.498004
2.918256
1.564030

NAV GMTH
1.475244
2.910084
1.545071

1.4076
2.8300 28-Feb-11
11-Feb-11
31-Jan-11
31-Jan-11
30-Jun-10

4.59%
-15.54%
-0.22%
12.49%
7.18%
5.20%
4.73%
5.35%

109.392860
100.779540

107.570619
4.75% 105.776543
5.20%
4.73%
5.35%

106.5528
1.1465
1.1185
1.1491

30-Sep-10
31-Dec-10
31-Dec-10
31-Dec-10
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 1

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

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

Royal Fidelity Int'l Fund - Equities Sub Fund

9.7950 4.85% 5.45% 30-Nov-10

10.0000
10.6417 -1.20% 0.50% 30-Nov-10
9.1708
1.27%

9.95%

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 from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month earnings

(S) - 4-for-1 Stock Split - Effective Date 8/8/2007

(S1) - 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





PAGE 8B, FRIDAY, MARCH 18, 2011 THE TRIBUNE

FOOD AND GAS PRICES





aR Ua

WASHINGTON







Americans paid more for
food and gas in February, dri-
ving up consumer prices at the
fastest pace in nearly two years.

The Consumer Price Index
rose 0.5 percent in February, the
largest increase since June 2009,
the Labor Department said
Thursday. Core prices, which
exclude food and energy, rose
only 0.2 percent, matching Jan-
uary's gain.

Gas prices jumped 4.7 percent
in February, above January's
increase but below December's
rise. Oil and gas prices have BUSI N FSS
risen sharply since the beginning
of the year due to political tur-
moil in the Middle East.

Food costs increased 0.6 percent, the most since September
2008. Food costs rose for almost all major grocery store groups,
including meat and eggs, dairy, and fruits and vegetables. The cost
of cereals and baked goods was flat, the only group that didn't
increase.

Bigger food and gas bills may limit Americans’ ability to buy
discretionary goods, and that could hamper economic growth.
Rising raw material costs are also reducing profit margins at
some companies.

There are also concerns that inflation could spread. New car
prices also jumped 1 percent, and airline fares and medical care
costs rose. Clothing costs dropped 0.9 percent, after a sharp rise
in January.

Despite those gains, economists said there is little sign that
price increases outside of food and energy will get out of hand.

W h h d 5 0 00 0 3 "High unemployment and modest wage gains should contin-
= ‘e t=) red 7 I = : r | @ n S 0 n ue to keep a lid on ... inflation," said Sal Guatieri, an economist
= at BMO Capital Markets.

HH F e) k d | T ; b t nie | Some companies are starting to pass on higher raw materials

: \@} 7 e 00 @ n "J a a ie) Cc = [ rd = a yo U r costs to consumers. Kimberly-Clark Corp. said Thursday that it

{ is raising prices on its Huggies diapers, Cottonelle toilet paper and
other child care products. The move is intended to offset higher
costs for wood pulp and oil.

| Other companies are reporting lower profits due to higher
re | f Ss) ol Ul f C commodity costs. FedEx Corp. said Thursday that earnings fell
+ lh 3 percent in the December-February quarter because of rising
fuel prices and bad winter weather. The drop occurred even
7 though the package delivery company also raised prices to offset
| oil costs.
| â„¢) Strong economic data

pots to more hiring





(AP Photo/Seth Perlman, file)
HARVEST TIME: In this file photo taken Oct. 7, 2010, central Illinois farmer Bob Hogan climbs back into his combine
while harvesting soybeans in Pawnee, Ill. Wholesale prices outside of the volatile food and energy categories rose at
the fastest pace in more than two years last month, a sign inflation could be rising as the economy strengthens.

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FINAL ADJUSTMENTS: In this Jan. 26, 2011 photo, workers make
final adjustments in the inspection area on the Volvo truck assembly

the past four weeks are at the Rising factory output sup-
lowest point since summer ports "more high-paying jobs,
2008. and more high-paying over-

"

Economic data released time," said Brian Bethune,
Thursday suggest that March chief U.S. financial economist
will be the second straight at IHS Global Insight.
month of strong job growth. Fewer people are seeking
And the reports helped Wall | unemployment benefits. Appli-
Street rebound a day after the cations fell last week for the
market suffered its biggest drop third time in four weeks, the
in seven months. Labor Department said. The

Still, rising prices for house- four-week average has dropped

- . £
C | ( ' a * “4 to a 386,250 — the lowest level
TO B E OM E A FA N OF B Vi S| T y, * - oF hold necessities and trouble sin Ce July 2008. That's near the

overseas could slow the U.S. 2 i
economy in the coming months. 375,000 level that, if sustained,

i "We have alot of momen- tends to signal declines in the
-a i e 0 0 apf tum in the U.S. economy right | Wnemployment rate.
F 7 now,” said Kurt Karl, chief =
UP ee | | economist at Swiss Re. "That's Fed to Soon give green
www. fac ebook. com/mybtc and | a Fy ox F a good, particularly since we're i aaah

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: tion increased in February for enough to boost stock divi-
COnMNES as a O.. the sixth straight month. The — dends.

Federal Reserve said produc- Banks can increase dividends

tion of cars and auto parts if they pass "stress tests" show-

jumped 4.2 percent, nearly ing that they can weather

matching January's gain. Pro- another recession.

duction of furniture, electronics All of the 19 largest banks
and appliances all rose. overseen by the Fed were sub-

Manufacturing output has ject to the examinations —
grown in all but four months — even if they didn't intend to
since the recession ended in increase their dividend pay-
June 2009. And manufacturers ments. Those banks include

> have created 190,000 jobs over Citigroup, Bank of America,
i the past year, the highest 12- JPMorgan Chase & Co. and
CALL BTC 225-5282 month total for that group since Wells Fargo. The Fed's first
www.btebahamas.com Ge

= a eae La alone a stress | ui conducted in
www ries adde : net newjobs. 2009 when the country was
facebook.com/mybtc or ees 2 ee ecueo Ford Motor Co. ite reeling from a severe eon
month that it would boost fac- and financial crisis. Those
tory production 13 percent in results were made public in a
ENTERPRISE | WIFELESS | BROADBAND | VOICE | DIRECTORY the January-March quarter in move to boost confidence in
response to greater demandfor __ the fragile U.S. banking system.





(i The Tribune

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Volume: 107 No.96



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FRIDAY, MARCH 18, 2011



ON WWW.TRIBUNE242.COM



PLPs blast PIM:
personal altace

MPs say Ingraham’s remarks
about Robin Hood owner were
‘improper and threatening’

By CELESTE NIXON
Tribune Staff Reporter
cnixon@tribunemedia.net

OPPOSITION MPs yester-
day criticised the prime min-
ister’s remarks about business
owner Sandy Schaefer, which
they regard as a "personal
attack” on the businessman.

In a joint statement issued
yesterday, Fox Hill MP Fred
Mitchell and Ryan Pinder MP
for Elizabeth said that Prime
Minister Hubert Ingraham's
remarks about Robin Hood

owner Mr Schaefer were
"improper, inappropriate, and
threatening."

Mr Ingraham, speaking
about Mr Schaefer criticisms
of the road work project on
Prince Charles Drive follow-
ing a tour of the new Public
Treasury building Wednesday
morning said: "It is most
regrettable that such a person
has been allowed to have that
type of business in the coun-
try. He is not a good person

SEE page nine

CUSTOMS RAID ON ROBIN HOOD “HAD
NOTHING TO DO WITH PM COMMENTS’



CUSTOMS
Comptroller
Glen Gomez

Great Rovours! Unbeotoble Price!

CUSTOMS Comptroller Glen Gomez
said last night that the Customs and Police
raid on Robin Hood’s Harrold Road store
Wednesday night had nothing to do with
Prime Minister Ingraham’s comments earli-
er that day that the owner of the store was
“not a good person for the Bahamas.”

Mr Gomez said the Customs and Police
had gone to the main store at closing time
Wednesday night to get a computer that
would help them in investigations they had

SEE page nine

5 8 say
on

NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER



I PATRICK'S NY iris

Pate

=
i.



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

URCA SET T0
INVESTIGATE STEVE
MCKINNEY SHOW

URCA has formally

i requested a copy of a show
i hosted by Steve McKinney
: as part of an investigation
i into whether Gems Radio
i Station has contravened com-
i munications regulations.

On March 16, the regulator

i issued a formal notice which
i stated: “In accordance with
i Section 53(1) of the Commu-
? nications Act, 2009 the Utili-
? ties Regulation and Compe-
i tition Authority (URCA) has
i issued codes that shall be
? observed by licensees pro-
? viding audio/visual media ser-
i vices. Such codes were issued
: by URCA on April 9, 2010.

“This notice 1s to advise

SEE page nine

TIM CLARKE/TRIBUNE STAFF



GREEN SCENE: Junkanooers entertained tourists and pedestrians on Charlotte Street at the St Patrick’s Day festival vestotdiy afternoon. Local
businesses partnered with the Ministry of Tourism to create the event, complete with themed food and drink specials, face painting, and enter-

tainment. Last night, merchants touted the event as a huge success ‘which drew both visitors and residents

DR ANDRE ROLLINS
APPLIES TO BE PLP
CANDIDATE FOR
FORT CHARLOTTE

By PAUL G
TURNQUEST

pturnquest@
tribunemedia.net

DR Andre Rollins con-

fi The Tri i
ce 7 8 ; tthompson@tribunemedia.net
applied to the PLP’s Fort }

Charlotte branch to be }

SEE page nine

CTT aaah See) a aa Na
MeO a ee Ue

DETRACTORS of the gov-

? ernment's $210 million sale of
? BTC are calling on the coun-
: try's religious leaders to "cover"
: them at a series of prayer vigils
? hosted ahead of Monday's
Tribune Staff Reporter :

planned demonstration.

Tribune Staff Reporter

SEE page nine



The call came at an anti-pri- :

rae Solar mpenec ue : PROPERTY OWNER’S
ise y peta ion ationa : ASSOCIATION

Rescue, a civic group headed :
by former Cabinet minister in :

vatisation town meeting organ-

SEE page nine

¢ SEE PAGE TWO

PETER NYGARD
ISSUES CEASE AND
DESIST LETTER TO

FASHION mogul and

long-time Lyford Cay resi-
i dent Peter Nygard has
i issued a cease and desist let-

2 FNMS ‘NOT EXPECTED’ TO BREAK RANKS OVER BIC :

By TANEKA THOMPSON

i ter to his property owner’s
? association.

Citing intimidation from

the private security firm
? hired to patrol the gated

SENIOR members of the Free National Movement do not expect } Tesidential community, Mr
: any Parliamentarians within their party to break rank and vote }

their new representative i against the privatisation of BTC.

Nygard’s legal counsel has

i} also lodged a formal com-

SEE page nine

/@BEe& Marathon Mall - Downtown - arma Bay - Palmdale @

ONT ee
ey TS TT See





PAGE 2, FRIDAY, MARCH 18, 2011 THE TRIBUNE

LOCAL NEWS





































































Brent Symonette

DPM Symonette
Calls for more
caring society

By LINDSAY THOMPSON

DEPUTY Prime Minister
and Minister of Foreign
Affairs Brent Symonette
called on the Church of God
of Prophecy to strengthen
partnerships towards a more
caring society.

He was addressing the 90th
Annual National Convention
of the Church of God of
Prophecy at the East Street
Tabernacle on Monday.

The week-long convention
under the theme: “Led By His
Spirit”, is advocating for a
better community through
spiritual guidance.

“The Church of God of
Prophecy is notable in our
community not least of all
because it has always taken
an all-embracing approach to
life, including the wider com-
munity together with its reg-
istered membership in its out- ne | nit ‘ ae
reach,” Mr Symonette said. : pS Fe ee | : 3 Photos: Tim Clarke/Tribune Staff

He acknowledged the : Di. 3 = ; ae) :
church as a place for having a

reputation of happiness and Scenes from yesterday’s St Patrick’s

joy; of spiritual sanctuary and - BS 1. af ee -| Day Festival held on Charlotte
eae aces innate , S Ss oy Street. Local businesses partnered
always to be uplifting and soul J ‘ 5 = 1 with the Ministry of Tourism for the

affirming. > ae ae event.
He said although the gov- Xe aa
ernment has made significant
progress in improving the
quality of life, a new affinity
with materialism and a weak-
ening of traditional family val-
ues as well as the illicit drug
trade continues to wreak hav-
oc on Bahamian society.
“And so I heartily embrace
the call of the Church of God
Incorporated in the Bahamas
for us — the church, the gov-
ernment, the family, the peo-
ple — to be led by the spirit; to
become even better partners
in our country so that we
become a more caring, com-
passionate and Christian
Bahamas,” Mr Symonette
said.
He pledged the govern-
ment’s continued support to
secure and expand funding
for education and for techni-
cal vocational training espe-
cially for the youth, notwith-
standing these difficult eco-
nomic times.
“We remain conscious also
of the special needs of our
senior citizens who need an
extra helping hand. We look
to continuing to work with
you to strengthen pro-
grammes of assistance for the
aged particularly where the
church is able to expand its
involvement,” Mr Symonette
said.

Rei

aS

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ett nes wal eet
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i'm lovin’ it.



THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 3





Man convicted oo

armoured truck
Pobhery attempt has
Conviction quashed

By NATARIO McKENZIE
Tribune Staff Reporter

A MAN convicted of
attempting to rob an
armoured truck outside a
bank in 2007 had his convic-
tion and sentence quashed by
the Court of Appeal yester-
day.

Ryan Omar Butler was con-
victed last September of
attempting to rob armored
truck driver Andrew Knowles
outside the Royal Bank of
Canada’s Prince Charles
Branch on December 21,
2007.

The Court of Appeal found
yesterday, however, that the
evidence presented did not
support the charge.

The court is expected to
deliver a written judgment at
a later date.

Butler was represented yes-
terday by attorney Roberto
Reckley. Vernal Collie
appeared for the prosecution.

Butler appeared jubilant
following the court’s decision
yesterday. At the trial, prose-
cutors had alleged that Butler
was one of two armed men
who banged on the door of an
armored truck and demanded
that the employees inside it
open the door.

However, the robbery
attempt was thwarted by a
police reservist and an off-
duty police officer, who were
nearby. Prosecutors contend-
ed that Butler was shot during
capture.

Butler claimed he was
merely an innocent bystander
and that police shot him acci-
dentally. He claimed that at
the time of the incident, he
was heading to the Super Val-
ue food store in the Prince
Charles Shopping Centre to
purchase milk for his girl-

friend. Butler had been initial-

ly charged with Raymond
Bastian. However, Bastian
was gunned down on Abun-
dant Life Road in what police
described as a "drive-by
shooting” two days before the
start of the trial.

German convicted of
ossessing marijuana
has sentence reduced

THE Court of Appeal has
reduced the prison sentence

of a German man convicted of

the possession of $30,000
worth of marijuana.

Hans-Jiirgen Rolf Fink, 47,
of Berlin, was convicted last
August after admitting to pos-
session of 30lbs of marijuana
with intent to supply.

The drugs were reportedly
seized from a home in
Pinewood Gardens where
Fink lived with his wife.

Fink, who claimed to be a
Drug Enforcement Adminis-

tration (DEA) informant, said

that the drugs were part of a
shipment.

Fink claimed he had been
involved in a drug run to
Jamaica and had been a DEA
informant.

Fink told the court he had
been given the drugs to give
to someone else.

Fink’s wife was ordered
deported after the prosecu-
tion withdrew the charges
against her.

Fink told the appellate
court yesterday that he felt his
36 months sentence was
excessive.

The court reduced his sen-
tence yesterday to 18 months
to take effect from the date of
his conviction.

Youth group manager
expected in court
over alleged theft

THE Tribune understands
that a senior manager of a
well known youth group is
expected to appear in court
today concerning the alleged
theft of tens of thousands of
dollars from the organisa-
tion.

When contacted the direc-
tor of the group, said he was
unable to comment at this
time, but that the organisa-
tion would release a state-
ment at a later date.

LOCAL NEWS

1 Tourism chiefs hail potential

"of the Latin American market

? Foulkes hit back at PLP’s criticism of the con-

COPA Airlines prepared to upgrade flights to country

COPA Airlines, which fur-

? ther opened the Bahamas to
i the Latin American market, is
i already prepared to upgrade its
i flights to the country if the
? demand is high when it begins
i serving Nassau in June,
i Tourism Director General

nmckenzie@tribunemedia.net David lohaeon sata Tiesday.

Mr Johnson laid out for

? dozens of tourism stakeholders
? the actions that the Ministry of
i Tourism & Aviation is taking to
? attract more visitors from Latin
? America and to better serve
i: them. In addition, he pointed
i to the potential economic gains.

Initially, COPA Airlines will

i begin its non-stop service from
i Panama City to Nassau with
i Embraer jets that seat 94 pas-
? sengers. However, Mr Johnson
? said, COPA also has Boeing
? 737-800s that carry more than
i? 170 passengers. Those jets can
i be positioned in the Bahamas if
: the number of travellers
i demands it.
? capacity to immediately, if
i demand is there, upgrade to a
i larger jet,” Mr Johnson said.

“They have the

COPA has committed 20,000

i? seats to Nassau in its first year.
i This has the potential to double
? the Bahamas’ arrivals from
i Latin America.

Additionally, Mr Johnson

i said all Bahamian islands could
i benefit from COPA’s presence
? through agreements the airline
i has with Bahamasair that allow
i COPA to sell “directly and
i? seamlessly” into Bahamasair’s
:? flights. This will allow travel-
? ers on the Panama City to Nas-
i sau flight to make direct con-
i nections to islands such as



Derek Smith/BIS

ADDRESS: Director General of Tourism David Johnson addresses
tourism stakeholders on the importance of Latin American market.

Grand Bahama, Exuma, Abaco
and Eleuthera. Mr Johnson
encouraged Bahamians to
embrace the Latin American
visitors, offering them the pro-
fessional care that should be
delivered to all guests.

“Tf they are happy, I can tell
you these are folks who spend
money,” he said. “There is no
recession in Latin America.”

Frank Comito, executive vice
president of Bahamas Hotel
Association, said there is
tremendous economic poten-
tial in the Latin American mar-
ket. “There is no recession in
Latin America,” Mr Comito
said. “The continued growth
of economies like Brazil and
Mexico contributed to the
region’s 6.6 per cent growth (in
2010). That is more than triple
the growth in the United States
last year.”

The size of Latin America’s
population also makes it a
potentially lucrative market for
tourism. “The combined pop-
ulation of the US and Canada is
just under 500 million people,”

Mr Comito said. “They repre- }
sent almost 90 per cent of our }
total number of visitors to the }

Police investigate shooting of man

500 million people. They rep- }
resent around 2 per cent of our }

total visitor population to the } in the Kemp Road area.

Bahamas today. The popula-
tion of Latin America is over

Bahamas today.”

are greater than that of China,
and as of 2010, Argentina,

Chile, Uruguay, Mexico and :
Panama were classified as high }

income countries.

RENTAL FEES FOR PRIVATE POST OFFICE BOXES PAST DUE

i ACTING Postmaster General Leslie
i Cartwright yesterday advised members of the
? public that rental fees for private post offices
i? boxes are past due and should have been paid on
? or before January 31, 2011.
i Persons who rent post office boxes are advised
i that until March 31 they may be allowed to retain

CREDIT Suisse

their box(es) only after payment of a penalty :
charge of $10 in addition to the rental fees. Fail- :
ure to comply within the specified period will :
result in the closure of the boxes which may be :
assigned immediately to other persons due to }
the limited availability of boxes. :

Credit Suisse AG, Nassau Branch

is presently considering applications fora

Senior Globus System Developer

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

Qualifications:

- At least Five (5) 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/T24 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/T24 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/raining 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

Or Fax: 1-242-356-8148

DEADLINE: March 18, 2011



: troversial Bell Island development in the Exuma
? Land and Sea Park yesterday.

? ter of Labour and Social Development said the
} opposition was “hypocritical” in their complaints
} against the government’s approval of the project,
? as several developments within the protected
? park were approved under the Christie admin-
? istration. Mr Foulkes said: “Under their admin-
} istration they allowed to be dredged four separate marinas and har-
: bours. We saw no evidence that there were any EIAs (environ-
i mental impact assessments) done on any of those cays.”




MINISTER LASHES BACK AT
MG NIGD Rm ating)

FNM Cabinet Minister and Senator Dion

Speaking in the Senate yesterday, the Minis-



DION FOULKES

And, Mr Foulkes tabled documents concerning developments at

three cays: Soldier, Indigo and Wax Cay.

Soldier Cay and Indigo Cay, he said, are less that 400 feet from

Bell Island, while Wax Cay is on the border of the park.

Defending the Bell Island project, Mr Foulkes said that several

EIAs were undertaken and that the developer completed all the

requirements of the government, the Town Planning Department
and the Bahamas National Trust.

Late last night, police were investigating the shooting of a man

The victim was shot in his chest near St Margaret’s Church

The hispanic population in shortly before 6.30pm, and taken to hospital by private vehicle.

the United States is the fastest : i :
growing ethnic population in | could not give further details.
that country. Over 15 million }
people in the US categorise }
themselves as being of Latin }
Americna descent. Nearly half ;
of them say Spanish is their pri- }
mary language. Mr Comito also }
pointed out that Goldman }
Sachs’ Review of Emerging }
Economies projects that Brazil }
and Mexico will be among the }
world’s five largest economies }
by 2050. Peru, Venezuela and }
Colombia are among nations }
that have per capital GDPs that }

Up to press time, police were still processing the scene and

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PAGE 4, FRIDAY, MARCH 18, 2011

THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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., P.O. F-485, Freeport, Grand Bahama

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608

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

Tribune sellers being corrupted by ‘operatives’

IT SEEMS that The Tribune has been
unwittingly drawn into the vortex of a quar-
rel between two Lyford Cay neighbours,
neither of whom do we know personally.

Recently we received a letter from Mr
Louis Bacon’s London solicitors stating that
they understood that “copies of a column
entitled ‘Hard Copy Off Air Special Col-
umn’, originally published in The (name
withheld), are on occasion being inserted
into copies of The Tribune creating the
impression they are being distributed as part
of the newspaper.”

We have withheld the name of the other
newspaper mentioned, although we have
spoken with its publisher who was as mysti-
fied as we were and maintains that no such
column was ever published in his newspaper.

We had never heard of any column of this
title, nor of such a radio programme. How-
ever, we were later told that the radio pro-
gramme of the same name was a Steve McK-
inney show.

Mr Bacon’s London lawyers said that the
“contents of the column are frequently high-
ly defamatory” of their client.

Mr McKinney must have received a sim-
ilar letter from Mr Bacon’s lawyers, because
we are told that about a week ago he had a
disclaimer on his show denying all responsi-
bility for the newspaper inserts and stating
that his show, “Hard Copy,” was not affili-
ated with the flyer.

We are told that he said that the respon-
sible parties have been warned about the
use of the “copy-written name” of his show
in the flyer. This statement suggests that Mr
McKinney knows who the “responsible par-
ties” are. His statement also confirms that
flyers are being inserted into local newspa-

ers.

Of course, we have had our own investi-
gators out trying to find out what Tribune
sellers are accepting money to insert these
flyers into The Tribune. As expected no
one is admitting guilt, but they all know that
if they are discovered the consequences for
them will be serious.

However, someone very close to one of
the disputing neighbours has given us two
names. He claims that these two persons —
both persons very well known to us — had
the flyers inserted into the papers at “the

NOTICE is hereby given that SHERYL

McKinney Drive off Fire Trail Rd., P.O.BOX N-4037,
NASSAU, BAHAMAS isapplyingtothe 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

ALCITA of

depots and distribution points.”

When we first received the lawyer’s let-
ter we were in disbelief, because when any-
thing like this happens many of our readers
call The Tribune immediately to inform us of
the abuse. This time, however, there were no
calls, which leads us to believe that these
insertions were targeted only for the exclu-
sive Lyford Cay area.

One of our reporters called Mr Nygard’s
Nassau lawyer, who admitted that “certain
persons” had been doing things on behalf of
Mr Nygard without his consent, approval or
knowledge. The lawyer said he had contact-
ed Mr Nygard to ask about the flyers only to
be told by Mr Nygard that he had no idea
that anything like this had been going on.
This suggests that Mr Nygard’s lawyer also
knows the identity of these persons. It has
been further suggested that they are the
same names that we now have in our pos-
session, one of whom was well known for
doing things for Mr Nygard in the past.

Mr Nygard’s lawyer said that if persons
have been attacking Mr Bacon, his neigh-
bour Nygard has had nothing to do with it.
According to the lawyer, Mr Nygard has
never seen the flyers.

We do not expect this to end here. We
plan to hand over all the information that we
have been able to gather to Mr Bacon’s
lawyers and they can take it from there.

In the meantime we ask all of our readers
to telephone us immediately if they discov-
er any flyer in The Tribune that contains
questionable material.

When they give us this information, we
would also appreciate them noting whether
the newspaper was delivered to them,
whether they bought it up at a depot or
whether they bought it from one of the street
hawkers.

If from a depot or a street hawker it would
be helpful if they would let us know the
name of the depot, and in the case of a
hawker the area in which he was selling.

As for the culprits who would encour-
age these poor sellers to do something so
corrupt for a few dollars, they can rest
assured that the future holds no good for
them — particularly if we get the evidence
that we now need to conclusively confirm
what we already know.



Police escorts,
prisoner buses
and my moment
of acute distress

EDITOR, The Tribune.

I believe my letter will be
the third in one week that
addresses the transportation
of prisoners.

This afternoon at 4.30pm I
was driving west on the Mon-
tagu Foreshore. The traffic
going east was bumper to
bumper and barely moving.
Everyone going home at the
end of the day.

A car was ahead of me, and
when I looked just beyond, a
white police car and a yellow
bus appeared.

Both were barreling down
the road, totally and com-
pletely on my side, and at a
speed that was well over the
limit. The police car and bus
were overtaking the line of
traffic going east.

LETTERS

letters@tribunemedia.net



In a split second I knew I
was going to be hit head on.
There is nowhere to go on
that stretch of road, and the
car and bus kept coming.

I pulled left as far as I
could, pushing into bushes
and a wall, and still believing
then that the side and end of
my car would be gone in an
instant.

How I was spared, the dri-
ver in front of me, and the
line of cars heading east, is
beyond me.

When it was over I felt like
the air had been sucked out of

me and I was shaken to say
the least. Never have I expe-
rienced anything like this. I
live east, and often the “con-
voys” bear down on me while
I am driving home. It is
always a very distressing
experience, however, this time
I thought it was the end.

The Police Department, I
believe, is mandated to pro-
tect the citizens of The
Bahamas ...Whatever hap-
pened to protecting the
motoring public against police
escorts and prisoner’s buses?

My car is scratched....] am
alive...

There has to be a better
way. Who is in charge??

LEE OGILVIE
Nassau,
March 14, 2011.

What is an airport in 2011?

EDITOR, The Tribune.

Just have to comment on the
media cover for the opening of
the new US Departure Termi-
nal LPIA before we find our-
selves lost in wonderland.

A considerable improvement
however lets be careful Barba-
dos, Jamaica and Trinidad in
the region also have nice look-
ing and functional airports.

What is an Airport in 2011?

A functional item of basic
infrastructure to handle large
groups of passengers trying as
quickly as possible to move
from one ‘A’ to ‘B’, ‘B’ being
somewhere else not in The
Bahamas.

How can it be a magnet to
attract. Tourists? Dream-on
here.

The truth is in the pudding
already TSA/US Border Con-
trol on the US-Mexico border
are in trials for a biometrics
card instead of a passport which
you just position close to a scan-
ner and it will process you. Bor-
der Control as we see it at
LPIA or returning in the US
will very soon be a dinosaur.
The required two hour pre-
flight will be eliminated so all
the internal facilities of bars,
snack places and restaurants
will have little or no time to
serve passengers.

Thope not like Denver a few
years ago and more recently
the new British Airways Ter-
minal Heathrow NAD will
have run enough bags through
their Baggage system to ensure

PNA Ye

not be granted, should send a written and signed statement

of the facts within twenty-eight days from the 18'" day of

March, 2011 to the Minister responsible for nationality



Memorial Service for the Late



Sidney Willie Taylor

“Skinner”
1958 - 201]

Saturday, 19 March, 2011

Shaw Temple
ALLE. Zion
at [0:00am

Blue Hill Road and Peter Street

Prime commercial office space for rent,
Ideal for professional. Located Shirley
Street & Sears Road. Water, Electricity
& WiFi Internet Included.
Turnkey operation.

Aol Hehe on or ts

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

no hold ups and I hope the bag
retrieval for returning residents
and visitors improves by at least
50 per cent.

Yes an improvement — need-
ed long over due now let’s hope
we keep the place clean?

Remember what an Airport
is .....a basic functional item of
infrastructure.

W THOMPSON
Nassau,
March 1, 2011.

ltd ae ei Le
OF ST. PATRICK'S DAY

EDITOR, The Tribune.

For most people St Patrick’s Day is a day of parades, parties,
leprechauns and green beer. But just as Christmas is about
more than commercialized fun, so too does St Patrick’s Day

have a deeper meaning.

St Patrick’s Day began as a religious holiday honooring St
Patrick — a holy bishop sent to Ireland in 433 AD by Pope
Celestine I to draw its people into the fold of Christ’s univer-

sal church.

Upon his arrival at Ireland’s shores St Patrick encountered
many setbacks and persecutions by the superstitious Druids
who had employed magicians to maintain their sway over the

Trish race.

Despite severe trials, St Patrick was able to convert all of Ire-
land and conquer paganism. He is thus credited with driving
the Celtic “snakes” out of Ireland.

St Patrick is credited with many miracles and is responsible
for the building of several Catholic schools, monasteries and

churches throughout Ireland.

He is known for his powerful expositions of the principles of

the Catholic faith.

He even employed the ordinary, little, three-leaved sham-
rock plant to teach people about the Blessed Trinity. He was
called to his heavenly reward on March 17, 461.

St Patrick was a humble, pious gentle man, whose love and
total devotion to and trust in God should be a shining exam-
ple to each of us. He feared nothing, not even death — so
complete was his trust in God and the importance of his mis-

sion.

PAUL KOKOSKI
Canada,
March 12, 2011.



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 simultaneously.

Interested persons should submit their resumes
via email to:

accountsclerk@live.com

All resumes must be received by

18" March 2011.



THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 5



LOCAL NEWS

Beaked whales ‘disturbed by |
sounds of naval sonar testing’

Scientists release
findings of research
in the Bahamas

BEAKED whales are highly sensitive
to naval sonar testing and are disturbed
by the sounds, say scientists who moni-
tored the mammals in the Bahamas.

The research, led by scientists at the
University of St Andrews in Scotland, sug-
gests that the whales do their best to quick-
ly escape the disturbance, according to a
study published Monday.

The study was limited to Blainville's
beaked whales that swim near the United
States’ naval underwater range - AUTEC
— where sonars are in regular use off
Andros.

Diane Claridge, executive director of
the Bahamas Marine Mammal Research
Organisation, was one of the principal
investigators on the study.

The team played sonar sounds to the
whales and were able to measure their
reactions through electronic tags attached
to the mammals. The tags measured the
sounds the whales heard and their subse-
quent swimming patterns.

Chief Scientist Professor Ian Boyd, who
worked with an international group of sci-
entists, said the mammals swam away
quickly to avoid the sounds.

"We showed that the animals reacted
at much lower levels than had previously
been assumed to be the case. We stopped
exposing the animals to the sounds before
there were any dangerous effects but it
was clear that these whales moved quick-
ly out of the way of the sonars.

"We now think that, in some unusual
circumstances, they are just unable to get
out of the way and this ends up with the

Benedictine nun fulfills life-long dream

SISTER Annie Thomp-
son, a Benedictine nun of St
Martin’s Monastery on Nas-
sau Street, recently fulfilled a
life-long dream to visit
African Benedictine com-
munities when she travelled
to Uganda accompanied by
Sister Barbara C Schmitz
and Carolyn Fuhs of Indi-
ana.

During their stay, the
women had a chance to visit
the Uganda cities of Jinja,
Tororo, Butende and Arua
where they visited with oth-
er Benedictine sisters and
the monks of Tororo.

They also had a chance
to teach at a local school and
to witness a Faith-in-Action
Baptism ceremony in Irun-
du.

Sister Annie said that the
trip was truly amazing.

“In summary I would say
that this mission was a joy-



SCIENTISTS studied beaked whales (above) in the Bahamas.

animals stranding and dying. There was
always a strong association between the
death of these strange and little-known
animals and naval exercises. We have now
shown that this may well be the case."

Mr Boyd added that the beaked whales
are not only disturbed by sonar testing but
other underwater sounds as well.

"There is a tendency to blame the Navy
for every stranding event and that is ridicu-
lous. We are now beginning to understand
that some species of whales and dolphins
appear to be much more robust to distur-
bance by sound than others.

"We also found that beaked whales
responded in the same way to sounds oth-
er than sonars, including the calls of killer
whales. It appears that they just don't like
unusual sounds but the way in which
sonars are used to hunt for submarines



SISTER ANNIE THOMPSON gives a guitar lesson to Sister-in-train-
ing Peter Maria of the Benedictine Sisters of Tutzing, Uganda.

may mean that the whales are more vul-
nerable to that type of sound."

While Mr Boyd feels the research his
team gathered could help prevent whales
from stranding due to sonar testing, he
said he is also concerned about other
sounds from humans that disturb the ani-
mals.

".. .. am also worried that the general
levels of sound that humans make in the
ocean from all sorts of sources like ships,
oil and gas exploration and renewable
energy may be a much more serious prob-
lem for beaked whales and some other
sensitive species.

"Perhaps the most significant result from
our experiments is the extreme sensitivity
of these animals to disturbance."

The research was published in the sci-
entific journal PLoS One this week.

ia a
EXTERMINATORS
et) tat
PHONE: 322-2157



“SIGNIFICANT LEADS’ INTO ILLEGAL
_ FIREARMS, AMMUNITION DISCOVERY

POLICE said they are following significant leads in
: their investigation into the discovery of illegal firearms and
: ammunition at a Toote Shop Corner home.

Around 9.40 pm on Wednesday, officers of the Quakoo

! Street Police Station along with officers of the Central
i Detective Unit went to a home at Toote Shop Corner off
; East Street armed with a search warrant.

On arrival at the residence, police observed two men

POLICE are investigat-

? ing two armed robberies in
? which two stores — the A
i & D Power Buys on Faith
; Avenue and Margo’s Con-
i venience Store in Pinewood
i Gardens — were targeted.

A & D Power Buys off

Carmichael Road was held
i up around 2.22pm on
i Wednesday.

A man wearing a white

i T-shirt and short gray jeans
: entered the store, armed
i with a handgun,
i demanded cash.

and

The culprit robbed the

establishment of an unde-
; termined amount of money

fleeing. The officers conducted a search of the home and
i recovered two handguns with a quantity of ammunition.

ARMED ROBBERIES AT TWO STORES

and fled on foot in an east-
erly direction on St Vincent
Road.

A few hours later, at
around 9.50pm, police
received information of an
armed robbery at Margo’s
Convenience Store in
Pinewood Gardens. Police
responded and were told
that two men, one of whom
was armed with a handgun,
entered the store and
demanded cash.

The culprits robbed the
store of an undetermined
amount of money before
fleeing the area in an
unknown direction.



NOTICE

The telephone numbers por

WILLIAM WONG & ASSOCIATES

= REAL

y _

are as follows:

Tel: 242.327.4271 /2 «© Fax: 242.327

4273

email: willam@wwongrealty.com



wwongrealty.com

filled one. We feel that we
received much more than we
gave. We feel blessed to
have met so many wonderful
people and to have experi-
enced the ‘Pearl of Africa’.

“Meeting and interacting

with our Benedictine Sisters
and Brothers made a pro-
found impression on us. In
addressing the specific topics
from the Rule of Benedict,
Sister Barbara and I felt that
we were able to renew with

them the Benedictine values
and traditions of listening,
obedience, humility, conver-
satio morum and of keeping
a healthy balance between
prayer and work,” Sister
Annie said.

Business owners take advantage of
downtown Freeport’s prime location

THE Grand Bahama Port
Authority said it has seen a
considerable increase in the
number of applications for
new businesses in the down-
town area.

“New GBPA-sponsored
initiatives have greatly
impacted occupancy levels in
the International Bazaar, and
now we are experiencing
renewed interest from com-
mercial applicants in
Freeport’s city centre,” said
GBPA’s manager of customer
relations Nicole Colebrooke.

As earlier announced by
GBPA president Ian Rolle,
the Port’s business licence
application has been stream-
lined with a reduction in
required documentation.
Additionally, the approval
process has been reduced to
48 hours in most cases for
Bahamian applicants, GBPA
said.

Businessman Hercules
Knowles said he was amazed
at how quickly his GBPA
application was approved,
allowing him to open up a
bakery in the newly opened
Downtown Welcome Centre.

“The Port Authority
helped me tremendously,” Mr
Knowles said. “They gave me
an opportunity, told me what



HERCULES KNOWLES opened his new pastry shop in the heart of
downtown Freeport last November.

to do and helped me step-by-
step with everything. The
business licence application
process was very easy. I was
surprised myself.”

Opened since November
of last year, ‘Raspberry’s Pas-
try Shop’, Mr Knowles’ pastry
establishment caters to locals
and tourists alike. He
described this prime location
as an opportunity of a life-
time. “I’m in the right spot.
Also, being in the heart of
downtown, I feel like ’m a
part of the revitalisation that’s
taking place.

“Owning a business is a
challenge. It may be hard at

first and you will have a few
challenges but you have to
stick with it. Nothing good
comes easily and today, Ican
say I’m beginning to enjoy the
(fruits) of my labour,” said
Mr Knowles.

The multi-purpose Wel-
come Centre is an integral
component of the Downtown
Turnaround project launched
by GBPA in 2009.

Primary aspects of the 1,495
square foot handicap accessi-
ble structure include a Royal
Bahamas Police Force and
Road Traffic Division dual-
satellite station, restrooms
and a snack shop.








COLORS:
BLACK('
RUST
BLUE ¥
ORANGE
BURGUNDN
MUSTARD
FUCSHIA
TURQUOISE
OLIVE

SHOE STORE
121 EAST ST. PH 322-5276



PAGE 6, FRIDAY, MARCH 18, 2011

THE TRIBUNE



LOCAL NEWS






Bahamas
International
Film Festival

BIFF announce
the dates for
film events

THERE is still a ways to go

until the eighth annual
Bahamas International Film
Festival (BIFF) in Decem-
ber, but organisers said they
already have dates sched-
uled for special film events
during the next few months.

The BIFF Film Series has
partnered with First-
Caribbean Bank Interna-
tional and will be screening
films every first Thursday of
the month from April 7 until
November 3.

First up is “The Athlete”,
which tells the story of how
an unknown, barefoot
Ethiopian man who stunned
the world by winning
Olympic gold in the
marathon, becoming a sports
legend overnight.

The film will screen at 8pm
on April 7 at Galleria Cme-
ma 6, JFK.

In addition to the film
series, BIFF said it is also
partnering with Via Café and
the Nassau Downtown Part-
nership to host “Films In The
Square.”

Movies will be shown
every Friday at 7.30pm from
May 27 to August 26 in Raw-
son Square.

Since its launch seven years
ago, BIFF has showcased
more than 500 films from
more than 50 countries,
including this year’s Best Pic-
ture Oscar winner “The
King’s Speech.”

Minister: New cruise port ‘may
not be a reality anytime soon’

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - The cre-
ation of a new cruise port may
not be realised anytime soon,
according to Minister of
Works and Transport Neko
Grant who revealed that a
major cruise line is reluctant
to partner with the govern-
ment because of the “unpleas-
ant” visitor experience in
Grand Bahama.

Of the 37 ports visited in
the region Grand Bahama is
ranked last based on surveys
taken by a major cruise line,
Mr Grant said.

“The cruise port, I can say
that it appears that it is not
going to be a reality anytime

soon,” he said in Grand
Bahama on Wednesday.

“We had hoped to partner
with one of the major cruise
lines in the creation of a port,
regrettably they have
found...that (passengers) do
not have a pleasant experi-
ence in Grand Bahama.

“They suggest to us that,
based on their surveys, out of
37 ports they visit in this
region that we are 37.

“And so, it serves as a
wake up call for us to begin to
re-examine ourselves,” he
said.

Cruise lines have com-
plained in the past that
Freeport Harbour was too
industrial and too far from
major tourist attractions, lead-
ing some cruise ships to drop

Grand Bahama from its itin-
erary.

It was felt that a new port
was needed in Freeport to
attract more major cruise lines
to the island.

Land was designated by
the government in Williams
Town for a proposed $100
million cruise port and Car-
nival Cruise Line was expect-
ed to be a possible major
strategic partner with the gov-
ernment to build it.

In February 2009, Carni-
val Cruises executive Giora
Israel said the cruise line
would be happy to make
whatever investment was
needed to get the cruise port
off the ground.

Mr Israel said he had been
in talks with the government

since 1997 about his vision of
the development of a new
cruise port that would estab-
lish the island as a major new
cruise destination.

Minister Grant stressed
that residents must ensure
that visitors have a “wonder-
ful experience” when they vis-
it Grand Bahama.

“There is a need for us to
appreciate visitors when they
come here. We have to make
them feel welcomed so they
can go and tell friends of the
wonderful experience as
opposed to reports that we
are now getting back,” he
said.

The government has taken
possession of the land in
Williams Town and has post-
ed a notice on the site.



Minister Neko Grant



Intermdional lawyers arrive for thiree- -(lay conference

TOP international lawyers
are in town this week for a
three-day conference host-
ed by the Eugene Dupuch
Law School.

All of the speakers
received a complimentary
copy of the 2004 issue of the
Bahamas Handbook, which
included the story of the leg-
endary Eugene Dupuch,
QC, for whom the school is
named.

In addition, those attendi-
ing the conference received
The Bahamas Investor, the
What-to-do magazine, the
Dining Guide and the

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PASTOR
VIVIAN
DEVEAUX, 92

of ‘Serden Hills #1 end
Tarmery of Stariord Grek
Andros, will b= held on
Saturday at 10:00.4.M. al
Wesley Methodist
Ghurch, Baillau Hill Roac.
Oficiating will be Ae.
William A. Higas,
Prasicgent of the
Conferanca, Rev. Kenris
Carey, Prasidant Emarita, Rav. Or Laverne Lockhart,
Traasurer, Rev. Poilin Stuobs, Assistant Secretary, Rev.
Carla Culmar, Minister of Grant's Town Methodist Church
and Rev. Aegineld Eldan, Dean ef C-LET. Interment
Ebanezer Mathodiat Church Gemetary, Shirlay Straat.

Heit surnnved & Sone: Dannis. lvyan, Kevin, Ucal and
ASP Kendal Deveuan; 4 Daughters: Cecily Colebrocue,
Liga Deveaux, Morgue Rehming ard Jaslyn Ferguson;
1 Brother Miltan Gikeon; 1 Sister: Naomi Oeveasux;
Grandsons: Roscoe, Koray, Kevin, Trevor, Kanda Jr.,
Danario, Adrian, Daivano, DeVaughn, Ucal Jr, Anthony
Jr and Deuglas Jr; Greanddughbers: Tecra, Tes, Travetbe,
Allison, Tiffany, Caphna, Reva, Shanique, Keisha, heanniss,
Cennisha, Keyshen, Ushanda anc Shabria: Great
Grandchildren: Tornoe, Cways,./osepn, Jamie, Taviors,
Angeina Jr, Rahiem, Keehaun and Kaiden Sone-in-
law: Inspector David Raaming (HBP) and Doug as
Fernquson; Gaughtars-in-law: Ella, Gladys. Pretisha,
Carolyn and Ohanse Deveaux and Franchester Boars:
Sisbers-in-law: Ray. Geris Tinker, Mildred ‘Wilcox and
Aeesiga Thompson; Broathers-in-lenarn Ezra arid Serial
Bailou; Wiacas: Malroge, Davina, Ministar Brande Mixer,
Joen Saunders, Eunika Aclle, Janet. Patsy, Bettyanne
and Launeance Gibson, Bary Allan, Gada Johnson, Alma
Williams, Rosemary, Evahm, Patrice, Dornell and Vitency
Riley, Sharon Wilcox, Carmel Baillou, Margaret anc Pegoy
Bauld; Nephenwess inistar Johnnie Aoland, Mark and
Philia Ache, Quan and Linkwarn Gibson, Marvin Fowler,
Larry Johnson, Elvis and Patrick Alley, Rufus Allan;
Caovesine: Rev. Keriris Gerey, Laverty, Bonnie and Hart.
Earl Davauax, Gonstanes and Laonna Munnings, Audrey
Deveuax, Deveral Ferguson, Meryl, Elva, Arnold and
Shervin Brown, Era Thurston and Ceci yn Bain;
Godchildren Hatais Barton anc Gertrude Write; Other
relatives and tiands including Ead acd Linda Pinder,
Pastor Jonathon and Kirk Rolla, Mir. and Mrs. Andre
Carville, Rose and Maxwall Roberts, White Family,
Woodside Farnily, Murse Pandora Roberts, Aa Hudson,
Zebra Saunders, Marjoria Bauld, Merlyn Devsuae, Thelrrie.
Newton, Sabrina Woodside. Barbara MckKanzia, Anthony
Bodie, Ann Lightbaurna. The Focal Group ot The
Methodist Churches, Vieskey Methodist Church of Stafford
Cragk, Andrea, Grants Town Wealey Methodia: Ghursh
Family, Examingtan and Sesessment Division of the
Ministry of Education, BTC Gall Gente, Gable Bahamas,
StaF of Male “Wedical 7 anc Male Surgical 1. Communities
of Stafford Creek, Blanket Sound and tha antira NMerth
and Gantral Andros.

Tne Socy will repose at Kurtiss Memorial Mortuary,
Robinson Road ard Fifth Strat on Friday from 11:00
ALM. util @:00 FR. amd at tha church on Saturday fran
9:00 4M. until service tre.



Bahamas Trailblazer maps.
The Welcome Bahamas
books are circulated in the
hotels.

Amongst the 40 panellists
were distinguished jurists,
legal scholars, psychologists,
social workers and educa-
tors from the Caribbean,
Canada, the United King-
dom, the United States,
Germany, Sweden and Ser-
bia.

Among them were the
Lord Justice Matthew Thor-
pe from the Court of Appeal
of England and Wales, and
Madame Justice Nancy Flat-
ters from the Calgary Fami-
ly and Youth Court in
Alberta, Canada.

The event, held March 17-
19, was hosted by under the
theme, “The Legal and
Social Consequences of the
Disintegration and Reinte-
gration of Families.” About
200 persons attended the
conference.

Matters discussed includ-
ed marriage and divorce,
cohabitation, property dis-
tribution, mediation, pater-





PRESENTATION: Etienne Dupuch III, grand-nephew of Eugene Dupuch, QC, reviewing the publications
with Tonya Bastian Galanis, principal of the Eugene Dupuch Law School.

nity and inheritance.

Other topics on the agen-
da were transracial, inter-
country and same-sex

adoption, assisted repro-
duction and ethical issues,
child development, inter-
national child abduction,

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



Bahamian student selected for
Pricewaterhouse internship

A BAHAMIAN has
become one of the first stu-
dents of Lincoln University
selected for an internship
at Pricewaterhouse Coop-
ers.

Omar Glinton of Nassau
spoke to the university’s

student-run publication
The Lincolnian about scor-
ing such a sought after posi-
tion within one of the
world’s largest accounting
firms.

“T knew that I had to
work hard while at Price-

CARD OF THANKS

fe the tomily ot the late

Godwin Hensley Rolle

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waterhouse Coopers so that
I could make a name for
fellow Lincoln students that
will soon follow," Mr Glin-
ton told The Lincolnian.

While interning, Mr
Glinton was the only stu-
dent from a historically
black college and universi-
ty and the only one out of
75 students nationwide to
receive a $3,000 scholarship
on behalf of the company.

Mr Glinton is now near-
ing his third year as an
intern for the upcoming
summer at PwC and his
future at the company
looks bright.

"When I first came to
Lincoln I was unsure of the
potential that I had, but
Lincoln and its professors
in the business department
made my transition a
smooth and successful one.

“The business depart-
ment later prepared me for
my internship at PwC, Pro-
fessor Robert Allen
exposed me to the oppor-
tunity based on my 3.98
GPA during my sopho-
more year and ever since



OUTSTANDING: Omar Glinton
(above) become one of the first
students of Lincoln University
selected for an internship at
Pricewaterhouse Coopers.

then I haven't looked
back,” he told his student
publication.

Mr Glinton is the presi-
dent of Students in Free
Enterprise, King of 2011, a
former member of the Lin-
coln University baseball and
soccer teams, and treasurer
of the National Association
of Black Accountants.

He is also a resident
advisor for Apartment
Style Living and a volun-
teer at the Coatesville
Youth and Woman's Asso-
ciation (CYWA).

Share your ee

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.





THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 7



LOCAL NEWS

Coastal Awareness Committee to focus efforts
on the effects of climate change and overfishing

THE Coastal Awareness
Committee of the Bahamas, a
group of stakeholders from the
private and public sectors with
an interest in promoting the
sustainable development of
The Bahamas, has announced
the focus for their campaign
in 2011 - the effects that cli-
mate change and overfishing
have on our coastal environ-
ment.

“Climate change and over-
fishing are major issues affect-
ing our coastal zones in The
Bahamas,” said Earlston
McPhee, Chairman of the
Coastal Awareness Commit-
tee and Director, Sustainable
Development for the Ministry
of Tourism.

“Much of our country lies
only a few feet above sea level
and studies have found that
small island developing states
such as The Bahamas are the
most vulnerable to climate
change. A rise in sea level
threatens our coast and our
islands themselves. Another
challenge we face is overfish-
ing and it is a fact that we are
seeing localized depletion of
fish resources such as grouper,
conch and lobster near large
population centres. Our com-
mittee will focus on the effects
of climate change and over-
fishing and what we can do as
Bahamians to help combat
these issues. Our goal is to
educate the public and to offer
real solutions to people who
collectively will help us as a
developing country and as a
tourist destination. This year
we will also be visiting Cat
Island to work with partners
and local government to devel-
op programmes for coastal
awareness in their communi-
ties.”

The National Coastal



Awareness Committee has
increased the number of activ-
ities scheduled for April which
is officially National Coastal
Awareness Month in The
Bahamas. The public is invited
to participate.

The Committee will host, in
collaboration with its strategic
partners both in the public and
private sectors the following:
National Public Service
Announcement campaigns on
television and radio; a contin-
uation of harbour clean ups;
erection of banners through-
out participating islands in The
Bahamas; primary and sec-
ondary school competitions
with a submission deadline of
March 31st; field trips with
Dolphin Encounters on Blue
Lagoon Island, Dive Stuart
Cove and Blackbeard’s Cay,
have been arranged to provide
students with an opportunity
to learn about protecting the
coasts and enjoying the marine
wonders of the Bahamas.
There also will be a national T-
Shirt Day.

As this is a national initia-
tive, Beach clean-ups and oth-
er Coastal Awareness activi-
ties are planned for the islands
of Abaco, Andros, Bimini,
Eleuthera, Exuma and Cat
Island.

The 2011 Coastal Aware-
ness Committee includes
members from the following
organisations:

Ministry of Tourism,
Bahamas Environment Sci-
ence and Technology Com-
mission (BEST), Bahamas
Hotel Association, Bahamas
National Trust,

Bahamas Reef Environ-
ment Educational Foundation
(BREEF), Broadcasting Cor-
poration of The Bahamas,
College of The Bahamas,





MEETING OF THE MINDS: Members of The National Coast Awareness Committee meet to discuss activities for April which is National Coastal
Awareness Month in The Bahamas. (I-r back row) Lester Flowers, College of the Bahamas; Julian Reid, Ancilleno Davis, The Nature Conser-
vancy; Commander Patrick McNeil, Port Controller; Peter Douglas, Ministry of Tourism, Andros; and Teri Sands, Ministry of Tourism, Eleuthera.
(I-r middle row) Charlene Carey, BREEF; Doranell Swain, Ministry of Tourism, Abaco; Adrianna Hutchinson, Stuart Cove; Sharmain Deveaux,
Ministry of Tourism, Exuma; Valencia Lockhart, Ministry of Tourism; Earlston McPhee, Chairman of the National Coastal Awareness Committee
and the Minister of Tourism. (I-r front row) Janeen Bullard, Bahamas National Trust; Kelly Meister, Dolphin Encounters; T Jennifer Edwards,
Bahamas Hotel Association and Jared Dillet, Ministry of Agriculture and Marine Resources.

Department of Environmen-
tal Health Services, Depart-
ment of Marine Resources,
Dive Stuart Cove, Dolphin
Encounters Ltd., The Nature
Conservancy, Ministry of
Education, Science and Tech-
nology, Port Department, The
College of The Bahamas, and
The University of The West
Indies.

“Our coastal and marine

STE RYH TIT)
celebrates Commonwealth Day




Patrick Hanna/BIS photo

PA GIBSON PRIMARY: STUDENTS and teachers of PA Gibson Primary in Hatchet Bay, Eleuthera are pic-
tured sharing in Commonwealth Day activities on March 14.



PAYING A VISIT: Neko Grant, Minister of Public Works and Transport
(right), and Alvin Smith, MP for North Eleuthera, chat during a visit to
Commonwealth Day celebrations at PA Gibson Primary School in
Hatchet Bay.

‘THE students and teach-
ers of PA Gibson Primary
School in Hatchet Bay,
Eleuthera hosted their sec-
ond annual multi-cultural
fair in celebration of Com-
monwealth Day on March
14.

The fair featured seven
countries including Japan,
the Philippines, San Sal-
vador, Italy, Ireland and
China. The students partic-
ipated in dances and other
forms of entertainment to
showcase the cultures of
the various countries.

Public Works and Trans-
port Minister Neko Grant
along with Alvin Smith,
MP for North Eleuthera,
made a surprise visit to the
fair during a visit to that
settlement.

resources help shape our
nation’s character and its dis-
tinctive personality,” adds Mr
McPhee. “All beneficiaries of
the tourism industry must take
an interest and active role in
conserving our natural
resources, particularly in
growing Small Island Devel-
oping States (SIDS) like The
Bahamas. As we depend on
the tourism industry the eco-

nomic sustainability of The
Bahamas hinges on our abili-
ty to maintain the natural
beauty of these islands that
attracts millions to our shores.
We thank each of our corpo-
rate sponsors who continue to
support and contribute to this
worthwhile effort. We also ask
the public to participate in our
upcoming events as we strive
to sustain the natural beauty

of these islands for our socio-
economic welfare and that of
our guests. We are all in this
together and as our motto
states ‘If not us... Who? If not
Now...When?”

For more information on
National Coastal Awareness
month visit www.coasta-
lawareness.org or to become a
sponsor contact Earlston
McPhee at 356-6963/67/38.

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PAGE 8, FRIDAY, MARCH 18, 2011

THE TRIBUNE





Election predictions — part 1

YOUNG MAN’S VIEW

By ADRIAN GIBSON
ajbahama@hotmail.com

AS ELECTION draweth
nigh, it is anticipated that
drama will surely accompa-
ny the impending show-
down. Indeed, as
ham/turkey/dryer/washer
season rolls around once
more, I’m hopeful that a
more edified electorate will
reject political paternalism
and demand change—
demand that the substantive
societal/national issues are
addressed.

Thus far, whilst the FNM
party seems slow-footed in
announcing its slate of can-
didates, the electioneering
has clearly begun as is evi-
dent by Opposition Leader
Perry Christie and his
Deputy’s (Philip Davis) flur-
ry of Family Island trips con-
ducting what they refer to
as a listening tour.

Frankly, as the electoral
clock ticks away, there are a
few sitting Members of Par-
liament who have virtually
fallen off a cliff and have lit-
erally disappeared in their
constituencies whilst others
are visionless and/or have
adopted an attitude of enti-
tlement and intolerance.
Undoubtedly, there will be
fits of hysteria and much
whimpering following this
electoral cycle. There are
quite a number of politicians
who are said to be on the
endangered species list—
marching onward toward
the political gallows.

It is expected that the
newly-constituted Bound-
aries Commission will
redraw some constituency
boundaries using recent cen-
sus and voter registration
data to determine popula-
tion shifts and, frankly, the

A DE | A

| Be STOP IN



“It is expected that the
newly-constituted Boundaries
Commission will redraw some
constituency boundaries using
recent census and voter
registration data to determine
population shifts and, frankly,
the favourable cuts for
electoral success.”



favourable cuts for electoral
success.

Notably, the FNM must
also be concerned about its
weakening presence in
Grand Bahama which con-
tinues to suffer immense
economic woes.

That said, I’ve decided to
don my monk’s garb and
attempt to read the political
tea leaves, making prelimi-
nary electoral projections
relative to the political odds
of the purported candidates
contesting seats in the
upcoming elections. One
must be mindful that this
preliminary tally—to be lat-
er followed up—comes as
ratifications and candidate
selection is ongoing and,
moreover, boundaries have
yet to be cut.

Mano-a-mano, for Dr
Hubert Minnis (FNM) the
electoral race against oppo-
nent Jerome Gomez (PLP)
will be like running against a

cupcake. Depending on
how far Dr Minnis outruns
him at the polls—and it
seems that the gap will be
wide—Mr Gomez may need
a powerful telescope to even
see his opponent.

The doctor has been a
stellar MP and a smooth
political salesman who actu-
ally delivers. His challenger
is likely to be politically
manhandled in a horrifying
loss that will expose him—
politically—as a paper tiger.

Annihilate

PLP MP Obie Wilch-
combe will politically anni-
hilate purported FNM can-
didate Jeff Butler. Wilch-
combe, an oratorically-gifted
Parliamentarian, has been a
superb MP and is likely to
jettison Mr Butler—a gro-
cery store owner—to the
political dustbin.

PLP candidate Dr Danny

Harbourside Marine

on

East Bay Street
is having a
storewide sale,

all items

discounted 20%.

Saturday March 19"
8am — 5pm

“Stop on by and take advantage of
our best prices EVER.”





DR HUBERT MINNIS

Johnson is likely to be shell-
shocked and in denial after
being KO’d by Desmond
Bannister in the Carmichael
constituency. It is anticipat-
ed that Dr Johnson—son of
the late MP Oscar Johnson,
brother of former House
Speaker Italia Johnson and
son-in-law of the late for-
mer PM Sir Lynden Pin-
dling—will mobilize the
PLP’s campaign machin-
ery/resources in the
area. That said, Dr Johnson
is likely to have recurring
nightmares following this
election episode.

Contrary to recent spec-
ulation, Mr Bannister is set
to run in Carmichael again
although reliable sources
inform me that due to pur-
ported variations of the elec-
toral map— that would be
an attempt to cut-out strong
polling divisions to save the
politically unpopular
Charles Maynard’s seat—he
considered a run in his home
town, North Andros.

The reality is that if Mr
Bannister—a strong candi-
date—loses, for the FNM,
the domino effect would
probably afflict the entire
Southwestern area. Mr Ban-
nister’s electoral outcome
could potentially coincide
with the outcome of neigh-
bouring seats. That said, he’s
expected to at least win his
seat.

Former MP Leslie “Pot-
cake” Miller will politically
clobber incumbent Sidney
Collie in Blue Hills.

This race is set to be a car-
nivorous affair. Constituents
assert that Mr Collie has
been a resounding disap-
pointment, malignantly
neglecting his constituency
and performing abysmally.

Any expectancy of Mr
Collie winning his seat is
comparable to waiting for
VAT 19 (liquor) to turn 20!

Naturally, both parties
concede certain seats—for
e.g. Long Island (usually
FNM) and Englerston (tra-
ditionally PLP)—offering
second tier candidates who
are considered to be sacri-
ficial lambs who make up
the party’s frontline num-
bers.

That said, the race for the
Long Island/Ragged Island
yields an exploitable mis-
match as incumbent Larry
Cartwright faces off against
PLP newcomer Alex
Storr—son of businessman
Henry F Storr. Unfortu-
nately for him, in Long
Island, Mr Storr will suffer a
humiliating loss.

Branville McCartney,
depending on his political
decisions, could likely retain
his Bamboo Town seat.

As an FNM, and perhaps
even if Mr McCartney
becomes an independent, he
would be a strong and
favoured contender. How-
ever, if he joins a new party,
he will suffer a political
death.

Currently, Mr McCartney
is in a very critical position
politically, however he must
rid himself of any notion
that its normal to be “half-
pregnant”—that is, either
he’s with the FNM or he’s
not.

Will Mr McCartney’s
move happen during the
BTC debate? Were his
recent comments/actions a
precursor to what his true

LESLIE MILLER

intentions are, that is, to sep-
arate himself from the pack
and portray himself as a
man with the gumption to
stand against Prime Minister
Hubert Ingraham? Is his
decision predicated upon the
position he takes with the
BTC debate? In the wake
of the Prime Minister’s
recent remarks relative toa
snap election if all FNM
MPs do not support the
BTC sale in Parliament, is
the ground now loosening
under Mr McCartney?

I’ve been informed that
the Clifton constituency will
no longer exist. Moreover,
as a result of this con-
stituency being eliminated,
I’m told that incumbent MP
Kendal Wright will be
offered a nomination to con-
test the Golden Gates seat.
I’m told that because Mr
Wright was raised in the
Sunshine Park area of the
constituency, he should be
a “natural fit” to challenge
incumbent MP Shane Gib-
son. Frankly, barring any
other happenings, Wright—
who is an uninspiring can-
didate—will lose to Shane
Gibson, who is a political
powerhouse in the area and
has a diehard support base.

The MICAL constituency
is being divided into the
Inagua and Mayaguana con-
stituency and Acklins,
Crooked Island and Long
Cay, respectively.

FNM Senator Dion “The
Bruiser” Foulkes is set to
triumph over his challenger
in the new Inagua and
Mayaguana constituency.

Nomination

I was told that the likely
forerunner for the FNM
nomination in Acklins,
Crooked Island and Long
Cay was Johnley Ferguson.
However, that appears to be
a moot point now that Mr
Ferguson has signed a two
year contract as a consultant
with the Department of
Lands and Surveys. Incum-
bent Alfred Gray is likely to
put a shellacking on his
opponent.

South Andros MP
Picewell Forbes will be
wielding a big, electoral
tamarind switch for FNM
challenger and COB lectur-
er Zendal Forbes. Although
Picewell Forbers may
encounter some difficulties if
former MP Whitney Bast-
ian nominates as an inde-
pendent candidate, he’s
expected to retain the seat
with Mr Z Forbes coming a
distant third as an “also-ran”
candidate.

FNM insiders assert that
Carl Bethel has worn-out his
welcome in Sea Breeze.
However, his uncertain
political fortune is depen-
dent upon the candidate that
the PLP settles on running
against Mr Bethel.

Of late, Hope Strachan—
Bethel’s strongest chal-
lenger—has been mentioned
as a possible replacement
for Fort Charlotte MP
Alfred Sears who has
announced that he will not
seek re-election.

However, if Ms Strachan
remains in Sea Breeze, Carl
Bethel will suffer a shel-
lacking.

In 2007, Ms Strachan lost
by 60-plus votes after cam-
paigning in the constituency



BRANVILLE MCCARTNEY

for a mere six weeks.

Mr Bethel appears out of
touch with the electorate
and, unfortunately, has a
massive risk factor concern-
ing his candidacy—that is,
the perception that he’s
arrogant and egotistical.

Moreover, another sce-
nario discussed is the possi-
ble nomination of lawyer
Myles Laroda in Sea Breeze,
apparently the PLP’s com-
promise for snubbing him in
South Beach. Frankly, Lar-
oda would be defeated by
Bethel. The PLP’s best
chance of capturing that seat
is to leave Hope Strachan as
the nominee. No doubt, the
PLP would be smart to
smack down any inkling to
move Ms Strachan to the
other side of town.

The Fort Charlotte dis-
trict—no longer being con-
tested by PLP MP Alfred
Sears—should be a political
duel.

Sources assert that the
boundaries will extend fur-
ther into Dr Minnis’ Killar-
ney constituency to facilitate
a successful run by FNM
candidate Vincent Vander-
pool Wallace.

I’m also informed that the
recently departed former
NDP leader (now PLP) Dr
Andre Rollins is also vying
for the nod in Fort Char-
lotte. There are those who
argue that Dr Rollins—a
political journeyman—lacks
the political capital to win a
contest. The race for Fort
Charlotte could go either
way.

Brent Symonette will
retain the St Annes seat. Mr
Symonette, who won nearly
64 per cent of the votes cast
in his constituency in the last
general election, will handi-
ly dispatch any challengers
(said to be Billy Nottage or
another applicant).

Loretta Butler-Turner
will banish her challenger to
the political wilderness and
roar down victory lane in the
Montagu constituency.

Mrs Butler-Turner won by
a margin of more than 68
per cent of the total votes
cast in her constituency dur-
ing the last general elec-
tion—the largest margin that
year.

FNM nominee for St
Cecilia Karen Shepherd—
the former president of the
Women’s Association—will
be a victim of circumstance.
In a traditionally PLP
stronghold, Ms Shepherd is
a rookie politician whose
candidacy reminds me of a
wilting candle.

I’m informed that Ms
Shepherd requested to run
in St Cecilia since her father
James Shepherd—a mem-
ber of the Dissident Eight—
once represented the area.

However, from the looks
of things, Ms Shepherd
could perhaps begin writing
her biography, with it per-
haps reading “I also ran in
St Cecilia, etcetera” and
being filled out during her
lifetime.

Glenys Hanna-Martin has
a strong political wind at her
back in the Englerston con-
stituency. The constituency
is also a traditional PLP
stronghold.

¢ See the rest of my pre-
dictions in Part 2 of this col-
umn in tomorrow’s Tribune.



THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 9



LOCAL NEWS

Dr Andre Rollins applies to be |
PLP candidate for Fort Charlotte

FROM page one

in the House of Assembly.

The area’s current Mem-
ber of Parliament, attorney
Alfred Sears, has formally
announced that he will not

has met with Mr Sears who
has informed him that he
will not be endorsing any
candidate ahead of the
Branch independently
deciding who they would
like to represent them

hopes and dreams and aspi-
rations of the Bahamian
people.

“And I don’t take that
lightly.

“I don’t intend to focus
or harp on the past of what

one party did or didn’t do. I
want to see this country
move forward and on the
constituency level I will
focus on building the
strongest constituency I can
build,” he said.

contest the seat in the 2012
general election — leaving
it open for other would-be
candidates to declare them-
selves.

As the newest political
front-runner in the party,
Dr Rollins said that his
application would first have
to be accepted by the area’s
branch before it could be
forwarded to the party’s
Candidates Committee for
further consideration.

As the former leader of
the National Development
Party, Dr Rollins stressed
that his decision to join the
PLP came with “no pre-
conditions or offers” of any
kind. He stressed that at no



DR ANDRE ROLLINS

time was any seat promised
him or offered.

“T joined the PLP with no
preconditions.

“T believe the party has
been very fair to me,” he
said.

Dr Rollins said that he

going forward.

“Mr Sears leaves behind
some very big shoes to fill.
It would be an awesome
opportunity and I am very
leased again with the whole
opportunity to continue to
meet with the people in the
area and we will where the
process leads.”

At this time, Dr Rollins
said that he is busying him-
self by meeting and getting
to know people in the Fort
Charlotte area.

“T think this next cam-
paign is really going to be
focused on the future and
be an issued based cam-
paign and we really need
to try and appeal to the

CALL FOR RELIGIOUS ‘COVER’ AT PRAYER
VIGILS AHEAD OF BTC DEMONSTRATION

FROM page one

the Pindling administration Dr Elwood Donaldson.

Trade union leaders and former BTC CEO Leon Williams
attended the public forum.

The group plans to hold prayer meetings in Rawson Square
tomorrow and Saturday night. When Parliament meets Monday
morning to debate the controversial sale of BTC to Cable &
Wireless Communications the group along with others critics of
the deal are expected to protest outside the House of Assem-
bly.

URCA SET TO INVESTIGATE STEVE MCKINNEY SHOW

PLPs blast PM’s ‘personal attack’

FROM page one

for the Bahamas."

Mr Schaefer and other business owners in
the Prince Charles area have publicly
expressed concerns about roadworks being
carried out as part of the governments New
Providence Road Improvement Project, which
they claim is seriously impairing business.

Further, media reports yesterday said that on
Wednesday night the Robin Hood store, locat-
ed on Tonique Williams Darling Highway,
was raided by customs and police officers when
a significant amount of computer equipment
was confiscated.

Speaking with The Tribune in an earlier
interview Mr Schaefer said he was “shocked
and taken aback” by the Prime Minister’s
statement.

He responded: "I am profoundly saddened
by what can only be characterised as a personal
attack on myself and my family and would
prefer to assume that in the heat of the
moment Mr Ingraham simply misspoke.”

Mr Mitchell and Mr Pinder in their state-
ment allege that Mr Ingraham is going “against
what he preaches” in using threatening
remarks against a permanent resident and for-
eign investor which he previously claimed his
government would never do.

It said: "It certainly appears that opponents
of the government can face the wrath of the
Prime Minister if they dare criticise the work of
his administration.”

Calling for Mr Ingraham to withdraw his
statement the opposition also encouraged the
Prime Minister to “disassociate himself from
this behaviour and give a full, frank and truth-
ful explanation to the public.”

FROM page one

you that URCA is carrying out
an investigation to determine
whether Bartlett-McWeeney
Communications Limited as
operation a radio broadcasting
station, namely Gems 105.9 FM
(GEMS), has contravened any
of the provisions of Clause 12 of
the Interim Code of Practice
for Broadcasting Content
(Interim Content Code).

“In order to carry out this
investigation, URCA hereby
requires Bartlett-McWeeney
Communications Limited to
permit URCA, pursuant to
Clause 11 (4) of the Interim
Content Code, to inspect the
original recording of the entire-
ty of programmes hosted by Mr
Steve McKinney and as broad-
cast on GEMS on February 24,

March 9 and 10, 2011. GEMS is
also hereby notified that such
recordings may be required by
URCA.”

The notice said Vincent Wal-
lace- Whitfield will be conduct-
ing the investigation on behalf
of URCA, and would visit
GEMS yesterday.

The statement, signed by
URCA director of policy and
regulation Kathleen Riviere-
Smith, said: “URCA looks for-
ward to the usual co-operation
from Bartlett-McWeeney Com-
munications Limited/Gems
105.9 Radio Station in all mat-
ters of mutual interest.”

Mr McKinney, and repre-
sentatives from Bartlett-
McSweeny Communications
Limited, the parent company
of Gems Radio 105.9FM, could
not be reached for comment up
to press time.



Customs raid on Robin Hood ‘had
nothing to do with PM comments’

FROM page one

been quietly carrying out for
the past month and a half. He
said Customs was dissatisfied
with documentation that it
had been given by store own-
er Sandy Schaefer over a peri-
od of time.

“We were doing our inves-
tigation quietly,” said Mr
Gomez, “that is why we went
to the store at closing time.
We had no intention of mak-
ing any decision or statement
until we had satisfied our-
selves of our facts. It was not
until this morning (Thursday)
when a reporter called to ask
me whether the raid was the
result of what the Prime Min-
ister had said that I even
knew that he had said any-

thing.”

Mr Gomez said that over a
period of time Customs had
dealt with at least seven
Robin Hood shipments in
which all goods being import-
ed were either not declared
or the documents were unsat-
isfactory. It was suggested
that invoices might have been
tampered with.

Unable to get what they
considered satisfactory
answers from Mr Schaefer,
Customs officers had on an
earlier visit taken computers
from the store for investiga-
tion, he said. It was decided
that a more in-depth investi-
gation had to be made into
the store’s computer system.
Acting on information they
had received, a Freeport Cus-
toms officer confiscated a lap

top from a person of interest,
which led them to the com-
puter’s main server at the
Harrold Road office. It was
that server that was among
items taken in Wednesday
night’s raid.

Mr Gomez said that in the
next few days this documen-
tation will be carefully studied
before any decision can be
made.

He wanted to emphasise
that there was absolutely no
connection between what the
Prime Minister had said ear-
lier that day and the Customs-
police visit to the store that
night. “It was purely coinci-
dental,” Mr Gomez said.

e SEE BUSINESS
FOR MR SCHAEFER’S
COMMENTS

FNMs ‘not expected’ to
break ranks over BTC

PETER NYGARD
ISSUES CEASE
AND DESIST LETTER

FROM page one

plaint against the Lyford
Cay Property Owners
Association with the
Commissioner of Police.

Up to press time,
Marvin Dames, deputy
commissioner, said that
the organisation was
not in receipt of such a
complaint.

In a press statement,
Keod Smith of Com-
mercial Law Advocates
said that the actions of
the hired security were
the latest in an ongoing
“conspiracy” against
the Canadian expat’s
reputation. It was stat-
ed that Mr Nygard, his
staff, and professional
associates, now feared
for their safety.

Mr Smith said: “This
campaign against Mr
Nygard has now risen
to the point where
employees of Mr
Nygard are being
approached with offers
of financial induce-
ments to make false
criminal allegations
against Mr Nygard.”

Mr Smith added:
“We believe that this is
being done so as to
convince at least one
Cabinet Minister of the
Government to make
an unfair drastic rec-
ommendation against
Mr Nygard’s status in
the Bahamas.”

Mr Smith said that
the International Fash-
ion House businessman
had been a law-abiding
citizen in the Bahamas
for more than 30 years.
He said he was a man
who contributed gener-
ously to national sport-
ing, cultural, and edu-
cational activities.

PERFORMANCE,
lel Aeersua=

FROM page one

Still, some FNM Parliamentary caucus mem-
bers are unsure how Bamboo Town MP Branville
McCartney — who has publicly stated his indeci-
sion over the sale — will vote.

"There are no FNM Parliamentarians who will
vote against the BTC sale with the exception of
Branville McCartney, our caucus is 100 per cent in
agreement for the sale with that one exception.

"He has not indicated that he will vote against
it, he has not said that to any one within the Par-
liamentary group, but he has said that he has to
make up his mind so I guess we will have to wait
and see," said a Parliamentarian who did not
want to be named.

Members of the House of Assembly are expect-
ed to debate the controversial $210 million sale of
BTC to London-based telecommunications
provider Cable & Wireless Communications on
Monday.

A vote in Parliament is the last step before the
sale can be finalised. Prime Minister Hubert Ingra-
ham this week said if his government loses the
vote in Parliament he will see it as a vote of no
confidence and call an early election. There are 24
FNM MPs in the House to the PLP’s 17 and if Mr
McCartney votes against the bill only three more
FNMs are needed to break ranks along with him
for the government to lose the vote.

FNM Chairman Carl Bethel said the prime
minister's words do not mean there is brewing dis-
sent within the ranks of the governing party.

"T have no information that any FNM MP

plans to vote against the sale, people may specu-
late but no one has indicated to me anything to
the contrary. I don't regard that as my duty to
seek to hustle MPs or lobby them (because) at the
end of the day all Parliamentary members of the
Free National Movement are aware of their duties
to the country and the party," said FNM Chair-
man Carl Bethel yesterday.

Mr Bethel added that at the party's most recent
caucus meeting, all Parliamentarians — Mr
McCartney was not present — were supportive of
the government's agenda.

Meantime, the FNM insider added that while
Mr McCartney has said he had to canvass his
voters for feedback before deciding how he will
vote on the BTC deal, the former state immigra-
tion minister will most likely vote with the party
to retain his constituency.

"I think Branville wants to run (in the next
election) as an FNM candidate. In my view he
cannot win Bambo Town unless he is an FNM.
Bamboo Town is an FNM constituency and has
been for several decades. The FNM branch (of
Bamboo Town) is strongly supportive of the
prime minister and the sale of BTC, (Mr McCart-
ney's) chairman and his council representative
announced that they are supporting (the sale)."

Earlier this week, the prime minister explained
that in his party's Manifesto of 2007, the FNM list-
ed the privatisation of BTC as one of its election
commitments.

With every FNM Member of Parliament having
run and won on this Manifesto, Mr Ingraham
said that they have likewise adopted and com-
mitted themselves to that policy.

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THE TRIBUNE

Uu



Ne

FRIDAY, MARCH

TO. 3

FAMILY GUARDIAN

INSURANCE COMPANY LIMITED



Colina suffers
$675k net loss
over Walk-In,
hank interests

By NEIL HARTNELL

Colina Holdings
(Bahamas), the BISX-list-
ed insurance holding com-
pany, suffered a collective
$674,649 net loss on its
investments in two associ-
ate companies, Walk-In
Holdings and the merged
Ansbacher/Sentinel Bank,
its year-end 2010 accounts
have revealed.

The figures show the
life/health insurer sus-
tained a $260,297 net loss
as a result of its 30 per cent
stake in Walk-In Holdings,
the private company that
operates and owns the
three Walk-In Clinics of
the same name, an interest
it acquired for $3.403 mil-
lion in November 2007.

SEE page 5B

Bahamas has ‘one
of best implement
plans for the EPA’

* Minister ‘very comfortable’
with nation’s progress in
meeting trade deal
obligations

* Export duties ‘non-issue’
as already stopped levying
them

* Laws must be changed to
reflect on-ground reality



ZHIVARGO LAING

By NEIL HARTNELL

A government minister
yesterday said he was
“very comfortable” with
where the Bahamas was in
fulfilling its Economic
Partnership Agreement
(EPA) obligations, telling
Tribune Business that a

had praised this nation for
having “one of the clearest
and most complete imple-
mentation plans”.
Zhivargo Laing, minister
of state for finance, told
this newspaper that com-
ments by an official of
CARICOM’s EPA Imple-
mentation Unit, suggesting
that the Bahamas was in
danger of being unable to
maximise potential bene-
fits from the trade agree-
ment with the European
Union (EU) because it did
not have an implementa-
tion plan, must have come

what we are doing”.
Referring to a conversa-

SEE page 5B

SECTION B « business@tribunemedia.net

5-15% transport
Savings strategy

Tribune Business Editor ;

Bahamian logistics provider signs contract with local importer designed

to reduce $1.2m US ground transport bill by 22% or $260k per year

: By ALISON LOWE
? Business Reporter
: alowe@tribunemedia.net

Average savings of between

? 5 to 15 per cent for Bahamian
? companies on US ground trans-
: portation costs were touted at a
? seminar hosted bya Bahamian
: logistics company, which yes-
? terday said it will soon be help-
i ing one major Bahamian
? importer to save over $260,000
? a year.

Express cargo and courier

? provider, New Level Logistics
? held a seminar at the British
: Colonial Hilton in downtown
? Nassau where it introduced
? around 25 Bahamian business
? representatives to its “third par-

For the 12 months to end- ; ty logistics” partners based in

December 2010, Walk-In : the US, which it says will in
Holdings generated $5.564 :
million in revenues, an }
increase upon the previous :
year’s $4.587 million. How- }
ever, the company suffered :
a more than $1.4 million :

? many cases enable Bahamas

businesses to significantly cut
their shipping costs to this

nation. The offer of access to
online software called a ‘Trans-
port Management System’,
which offers companies trans-
parency in the shipping process,
where they can maintain sight
of their goods, met with
approval from many Bahami-
an importers, who lamented the
damage and frustration suffered
when goods get delayed with-
out warning.

Henry Johns, who runs New
Level Logistics with his wife,
Marilyn Johns-Smith, told Tri-
bune Business in a previous
interview that Bahamian com-
panies are collectively losing
"millions of dollars" per year
through inflated transportation
costs they do not have to pay,
something that also results in
them paying more import
duties/Stamp Tax to Customs
than they need to.

The 20-year transportation

ROBIN HOOD CHIEF: |
MAY LEAVE BAHAMAS

By NEIL HARTNELL
? Tribune Business Editor

Robin Hood’s president yes-

? terday suggested he and his
: family may have to leave the
? Bahamas, joining his attorney
? in telling Tribune Business
? there was “clearly” an organ-
? ised conspiracy to drive the
? retailer out of business. He also
: challenged this newspaper to
? “find someone with a better
? record than me” when it came
? to making due Customs pay-
? ments.

Speaking to this newspaper

: after Wednesday night’s joint
? Customs/Police raid on Robin
? Hood’s Tonique Williams-Dar-
? ling Highway headquarters, in
¢ which the retailer’s main server
? was confiscated and taken away
: for inspection, Mr Schaefer said
? he was “proud” to have made
i enemies in the Bahamian
? food/retail wholesale industry
i through aggressive strategies
? that forced competitors to low-
i er prices and margins.

“When you’re an agent of

? change you’re bound to make
? enemies, and I can say I’m very
: proud of the enemies I’ve
? made,” Mr Schaefer told Tri-
: bune Business, emphasising
? that he was not referring to
? Prime Minister Hubert Ingra-
Tribune Business Editor i se ee ey meee
? ly” a conspiracy afoot to drive
? him out of business, Mr Schae-
? fer said Robin Hood had been
? able to access another server
? to get its Point of Sale (PoS)
: equipment operational, open-
? ing both its Tonique Williams-
? Darling Highway and Prince
: Charles Drive stores at 9am
: yesterday, an hour later than

leading CARICOM official }

? normal.

Adding that there was “‘clear-

Without help from Robin

? Hood’s external technology
? consultants, Mr Schaefer said
? the two stores would have been
: closed and 300 employees sent
? home.

He added: “When people go

? on a witch hunt, they will look
? for the things they want to find.
: They will find in things the
: truth they are looking for,
? which is not the truth at all.
? There are a lot of things that
? are manipulated.

“The reality is that ’ve been

? scrutinised by them [Customs]
? since I started, so I’ve been
? scrutinised by them for 11
? years. In scrutinising thousands
2 ? of containers, have there been
from someone “unaware of ; mistakes? Yes, they’ve found
? them sometimes, that I’ve over-
? paid or underpaid in good faith.
tion he had with the Unit’s }
: you look at the percentage of

“But, at the end of the day, if

SEE page 4B

* ‘Defies’ anyone to find
another business with
better record of due
Customs payments

* Says ‘clearly’ organised
conspiracy to drive him
out of business, and
‘proud of enemies made’
with exception of PM

FAMILY GUARDIAN

industry veteran, who is the
sales and operations manager
for New Level Logistics, said
Bahamian companies were
incurring losses through not
having their own discount
freight programme in the US.
Instead, they are vulnerable to
a practice called “pre-pay and
add”.

Some US shippers employed
by Bahamian companies offer
to prepay the freight costs to
get their already-ordered prod-
ucts from, say, California, to
Florida.

These shipping companies
will use their own discount
freight programmes to truck the
goods from California but, in
some cases, the shipper would
place the non-discounted
freight rate on the bill for the
Bahamian company. The com-

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. 7



BISX-listed firm

adds $2m debt
for expansion

* Consolidated Water expecting government to

reduce Water & Sewerage Corporation’s $6.2m
debt to it to balance of ‘90 days outstanding’
* 67% Blue Hills expansion to start producing

water by October

* Firm gains from energy pass through in 2010
Q4, with maintenance boost expected in 2011

By NEIL HARTNELL
Tribune Business Editor

BISX-listed Consolidated Water yesterday said it expect-
ed to take on an extra $2 million in debt to finance the 67 per
cent capacity expansion of its Blue Hills reverse osmosis
plant, amid expectations the Water & Sewerage Corporation
will reduce the $6.2 million owed to it to a balance of “90

days outstanding”.

Unveiling the company’s financial results for the year to
end-2010, Rick McTaggart, Consolidated Water’s chief
executive, said the new section at the Blue Hills plant,
whose capacity will grow from 7.2 million gallons per day to
12 million gallons per day, would begin tO produce water in
October 2011, immediately following construction comple-

tion.

SEE page 2B



COLINA ENJOYING 5.27% PROFIT RISE

By NEIL HARTNELL
Tribune Business Editor

Colina Holdings (Bahamas)
saw its net income grow by 5.2
per cent for the year to end-
December 2010 to $14.1 mil-
lion, building on the 64.5 per
cent growth seen the previous
year as shareholder equity hit
$115.5 million.

Unveiling results that showed
an increase in income available
to common shareholders to
$11.3 million or $0.46 per share,
Terry Hilts, the company’s
chairman, said: “As is expected
in our industry, and as a result
of the nature of our business,
profitability will fluctuate
throughout the year. We are
pleased, however, that overall,

>

INSURANCE COMPANY ~~

call us today at (242) 396-1300

our profit for the year has con-
tinued on an upward trend.
Comprehensive income, which
takes into consideration other
gains affecting equity, has
notably increased from $11.7
million in 2009 to $14.4 million
in 2010”.

Operating expenses
increased by $3.5 million to
$29.9 million year-over-year,
reflecting an increase in staff
benefits and operational invest-
ments to enhance policyholder
service. Total revenues grew to
$152.6 million, an increase of
5.5 per cent over prior 2009.

Colina Holdings (Bahamas)
said gross profit margins in both

SEE page 3B

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PAGE 2B, FRIDAY, MARCH 18, 2011

THE TRIBUNE





Private sector must

rive the recovery

BY SIMON COOPER
RES SOCIUS

Central Bank report

released on Friday, March

11, confirms that our domes-

tic markets continued on

their recovery path in January. This was

aided by improving circumstances prevailing

in the global economy beyond our shores,

and some local initiatives, too. The better

news reported for our islands included mod-

erate growth in our tourism sector, and a
stable rate of new building construction.

Other noteworthy remarks made by the
nation’s bank included the fact that the fis-
cal deficit remained a matter of concern
(the uptick is not yet broadly based), and
news of a welcome cash injection in the
form of Stamp Tax associated with the sale
of the Bahamas Oil Refining Company
(BORCO).

Looking back to 2010, the Central Bank
again noted an increase in overall tourism,
partly on the back of a US recovery, but
also partly thanks to several public-private
sector initiatives. At least some Bahamians
can claim credit for their own initiative in
helping encourage a healthy growth in
stopover arrivals by air or sea.

Deficit

As mentioned, our nation’s deficit
widened by 22 per cent or $38.9 million in
the first six months of the 2010-2011 fiscal
year. This means that we continued over-
spending despite all the austerity measures
introduced. As a nation we are still not cut-
ting our clothes according to our cloth, and
we may have to pay heavily for this indis-
cretion in due time.

The modest increase in consumer lend-
ing that the Central Bank reported was
mainly attributed to debt consolidation and
increased use of credit cards. On the upside,
net repayments for land purchases, home



SIMON

improvements and miscellaneous purposes
were well balanced. This means that the
wheels of our economy are turning, not
falling off as some would claim.

The Central Bank continues to anticipate

and with that more good news for all.

What does this mean to me as a Bahami- }

an resident and businessperson? What role | 0f Consolidated Water’s 15

should I play in helping to turn the tide, ; Plants in the Caribbean by 21

and how should I capitalise from this in : Pet cent said: “The plant was

business, too? I believe that what we need : 7. ;

; She ae ? this year, and with the expan-
are more private sector initiatives, and few- }
aees ae out for ea assistance, i an extension of the water
wherever this is possible. This does not mean } cajes agreement to 2031.
that we have to wait for others to come and
build our Bahamas either. Small contribu- :

tions are equally important, and I know of }

many businesses already preparing for more
recovery towards the end of what will be a
better year.

NB: Res Socius was founded by Simon
Cooper in 2009, and is a Business Brokerage :
authorised by the Bahamas Investment :
Authority. He has extensive private and :
public SME experience, and was formerly ;
chief executive of a publicly traded invest- :
ment company. He was awarded an MBA} Water & Sewerage Corpora-
with distinction by Liverpool University in ; 70"

? to it would soon be largely

2005. Contact him on 636-8831 or write to settled mide tie Goyene

simon.cooper@ressocius.com.

JOB 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.

Main Duti R

nsibilities:

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
inability to meet customers’ 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.

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, Bahamas

OR

E-mail:

humanresources@danbradlitd.com

FROM page 1B

Mr McTaggart said Con-
solidated Water also earned
a “small gain” from energy
pass-through charges in its
Bahamian operations during
the 2010 fourth quarter, a
sharp contrast to previous
years, when the BISX-listed
company had incurred extra
fee costs as a result of energy
inefficiencies in its operations.

And he added that new

: diesel engine maintenance
i programmes being imple-
? mented at the Blue Hills and
: Windsor plant during 2011
} should “yield benefits” for the
? company’s Bahamian opera-
i tions this year.

Analysing the implications

i of the January 2011 contract
? award from the Water & Sew-
? erage Corporation, David
? Sasnett, Consolidated Water’s
i chief financial officer, told a
? conference call with Wall
i Street analysts: “With the
: recent expansion of the Blue
: Hills plant in the Bahamas,
? we would estimate incurring
growing momentum in the domestic econo- :
my, thanks largely to our strengthening }
tourism sector and associated construction
projects. Consequently, employment }

prospects are expected to improve as well, : ; ;
: would by itself increase the

$2 million in incremental debt
to fund construction of this
project.”

Mr McTaggart, noting that
the Blue Hills expansion

combined water production

commissioned in January of
sion of capacity we received
“We are proceeding rapid-

ly to meet a very tough con-
struction deadline, and expect

: to begin producing water
: from the expanded section
; this October.”

In its 10-K annual report,
filed yesterday with the US
Securities & Exchange Com-
mission (SEC) to fulfill its
obligations as a Nasdaq-list-
ed stock, Consolidated Water
expressed hope that the

tion’s outstanding debts owed

BISX-listed firm adds
$2m debt for expansion

ment’s mid-year Budget
announcement that some $8.8
million in taxpayer funds was
being reallocated for such a
purpose.

“As of December 31, 2010,
Consolidated Water-Bahamas
was due approximately $6.2
million from the Water &
Sewerage Corporation,” Con-
solidated Water said.

“We have been informed
previously by representatives
of the Bahamas government
that the delay in paying our
accounts receivables is due to
operating issues within the
Water & Sewerage Corpora-
tion, that the delay does not
reflect any type of dispute
with us with respect to the
amounts owed, and that the
amounts will ultimately be
paid in full.

Payment

“Based on our January
2011 meeting with officials of
the Bahamas government, we
believe the Bahamas govern-
ment will make a payment in
the near future to reduce
Consolidated Water-
Bahamas’ receivable balances
to approximately 90 days out-
standing.”

It appears that the delin-
quent accounts receivable
owed by the Water & Sewer-
age Corporation have held up
Consolidated Water’s efforts
to obtain performance bonds
for its Blue Hills and Windsor
plants.

“On August 1, 2009, a per-
formance bond with the Roy-
al Bank of Canada in Nassau,
Bahamas, in the amount of
$1.911 million for the Windsor
plant expired and was not
subsequently replaced. We
expect to obtain performance
bonds for the Windsor and
Blue Hill plants once Consol-
idated Water-Bahamas has
received payment of its delin-

NOTICE

quent accounts receivable
from the Water & Sewerage
Corporation,” the report to
the SEC said.

With regard to the Blue
Hills expansion, Consolidat-
ed Water’s 10-K report said:
“Under the terms of the
amended agreement we are
required to increase the pro-
duction capacity of the Blue
Hills plant to 12 million US
gallons per day on or before
September 30, 2011.

“After the expansion is
completed, we will be
required to deliver, and the
Water & Sewerage Corpora-
tion will be required to pur-
chase, a minimum of 52.5 mil-
lion US gallons per week. The
term of the water supply
agreement will be extended
at the date that the expansion
is completed for a period of
20 years, or until the plant has
delivered approximately 66.9
billion US gallons of water,
whichever occurs later.”

Meanwhile, looking back
on 2010, Mr McTaggart told
Wall Street analysts yester-
day: “In our Bahamas opera-
tions we continue to benefit
from reduced energy costs
resulting from improved oper-
ational performance. We
received a small gain from
energy pass through charges
in the fourth quarter, in con-
trast to the charges we’ve
incurred in the past.

“We will implement further
diesel engine maintenance
programmes that we believe
will significantly reduce
mechanical breakdowns and
maintenance costs. We are
very optimistic this will yield
benefits for the Bahamas
operations this year.”

Consolidated Water said it
supplied three billion gallons
of water to the Water & Sew-
erage Corporation in 2010
from its Blue Hills and Wind-
sor plants, down slightly from
3.1 billion in 2009.

SIR LYNDEN PINDLING ESTATES
FORMERLY PINEWOOD GARDENS

Il SUBDIVISION

This Notice serves to advise the general public that lots
within the following blocks purportedly sold as lots within
“Nassau Village” form a part of the Sir Lynden Pindling
Estates Subdivision (formerly Cedar Groves/Pinewood
Gardens II) and are the property of Arawak Homes

Limited.

These Blocks are:

52,54,55,56,57,58,59,60,61,62,63,64,65,66,67,68,69,70,71,
72,73,74,75,76,77,78,79,80,81,82,83,84,85,86,87,88,89,90,91,
92,93,94,95,96,98,99,100,101,102,103,104,105,106,107,108,
109,110,111,112,113,114,115,116,117,118,119,120,121,122,
123,124,125,126,145,146,147,148,149,150,151,152,153,154

The general public 1s further advised to beware of purchasing
any lots in the above Blocks unless the land is described as
being in the Sir Lynden Pindling Estates Subdivision and
is being purchased from Arawak Homes limited or from
a person or entity which purchased from Arawak Homes
Limited. Otherwise, the seller(s) are not the owners of the
land.

If you have purportedly purchased any lot(s) within the
above-mentioned blocks, you are advised to immediately
seek proper and independent legal advice from a
reputable law firm or attorney.

Should you have any questions, please contact:

GENERAL LEGAL COUNSEL
ARAWAK HOMES LIMITED

P.O. BOX N 3180

NASSAU, BAHAMAS

PHONE: (242) 394-0014/5; 502-6500





THE TRIBUNE FRIDAY, MARCH 18, 2011, PAGE 3B

Union eyes further BIC legal actions



By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

The Bahamas Communications and Public
Officers Union (BCPOU) believes it has “solid
grounds” for further legal action to impede the
Bahamas Teleccommunications Company’s
(BTC) sale to Cable and Wireless Communica-
tions (CWC), should the Court of Appeal not
allow its appeal against an earlier Supreme Court
ruling that threw out the union’s attempt to stop
the transaction.

In the meantime, Bernard Evans, BCPOU
president, said the union has been turning down
requests from CWC to meet with the company to
discuss the way forward for BTC. “We don’t
need to talk to them yet,” he said.

Mr Evans yesterday addressed the Rotary
Club of West Nassau on the topic of BTC’s
impending sale to CWC, which the union he
heads has led opposition against.

He reiterated previous statements that the
BCPOU is not against “privatisation and liber-
alisation” of BTC and the telecoms sector in the
Bahamas, but that believes privatisation of BTC
should see it sold to Bahamian buyers.

He said the union does not have a “personal
vendetta” against CWC, but has obtained infor-
mation from labour counterparts elsewhere con-
cerning its dealings with unions, declines in busi-
ness in the face of competition from other tele-
coms providers in Caribbean jurisdictions where
it also operates, and the “high turnover of exec-
utives”.

Ultimately, when pressed about what arrange-
ment he would accept, Mr Evans said he does not
believe BTC would be better off with any “major
or minor” partner other than a Bahamian one.

Admitting “there is merit” to the argument
that if a foreign competitor was to enter the
Bahamas in a liberalised telecoms environment,
BTC would not be adequately prepared to with-
stand the competition without a foreign partner
with the “purchasing power, research and devel-
opment capacity and technical know-how”, Mr
Evans said this holds no water for him as an
argument for bringing in a foreign partner for
BTC.

“I can see there would be concerns about a
Bahamian company competing with a giant. But
all companies who get a license should be
Bahamian. By all means, if your intention is to
bring in a Digicel, then by all means bring in a

foreign entity to compete with Digicel if that’s the
environment you want to set up. But if you want
Bahamians to compete with Bahamians then
there’s no need,” he suggested.

The BCPOU is now awaiting a final verdict
from the Court of Appeal on whether it will
allow the union’s appeal against Supreme Court
Justice Neville Adderley’s February ruling that
rejected the unions’ claim the Government did
not have the right to sell BTC, on the basis that
the unions did not have the legal standing to
bring the suit.

“Tf the Court of Appeal rules we do have
standing, it will also rule on the same day that we
can seek injunctive relief. That would then allow
for us to go back to the lower court for the hear-
ing to be heard, and for an injunction on the sale
of BTC to take place until we get that relief. So
that’s what we are hoping for,” said Mr Evans
yesterday.

Should this not occur, Mr Evans said the union
believes it has a good case for further legal action
to impede the sale.

“There’s something amiss with what happened
in 2002. BCPOU stands for public officers; BTC
is a private entity. How can you have a public offi-
cer work for a private entity? It’s a valid question.
That is a concern. And BaTelCo, by the way, is
not dead from a legislative standpoint. Even
though it has been stripped of its assets it is still
on record as a living entity,” Mr Evans said.
“That is whom we have our employment and
our contracts with. It is a public entity. That
makes us public officers, so there is a real, real
legal and constitutional problem there that needs
to be resolved. Maybe when it changed from a
corporation to a company there should’ve been
some separation, some notification. Maybe some
benefits that were owed to me and due to me as
a public officer then should’ve been provided, but
they were not, so here we are.”

However, the BCPOU president also stated
that if the BTC sale goes through, he will work
with CWC unless his membership, the BTC
workers, tell him otherwise.

“Tf the sale goes through it would be devas-
tating, very, very devastating. But we will have to
deal with the matter then.

“We would have to talk with them. But we’ll
see what our people tell us...if our people tell us
they can’t work for Cable and Wireless then
that’s a major, major issue.

“We'll have to comply (with the membership’s
wishes),” he added.

CONFERENCE TO BOOST BAHAMIAN BANKERS

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

A “tremendous amount of
information” of relevance to a
wide variety Bahamian profes-
sionals will be shared over four
days when the Bahamas hosts
the 19th World Conference of
Banking Institutes for the first
time, one of its organisers said
yesterday.

Coming together on the
theme of ‘Creating a progres-
sive financial services environ-
ment’, delegates from the
Bahamas and 14 other coun-
tries are meeting at the Atlantis
resort from March 20-23 to dis-
cuss issues related to financial
services and the training of pro-
fessionals within the sector.

Among those countries rep-
resented are: Korea, Botswana,
Jamaica, the UK, Scotland,
Nigeria, Hong Kong and Cana-
da

Prime Minister Hubert
Ingraham and Central Bank
Governor Wendy Craigg will
address the conference, along
with other “distinguished”
speakers from the Bahamas
and elsewhere.

“Trust, accountability, com-
petence and innovation are the
buzzwords. I feel these are
innate qualities every Bahami-
an should possess to empower
themselves,” Peggy Knowles,

deputy manager of corporate
affairs at the Securities Com-
mission of the Bahamas and the
conference’s chairman, told Tri-
bune Business. She invited “all
Bahamians” to register to
attend the event.

The Bahamas Institute of
Financial Services (BIFS) is
hosting the conference, which is
sponsored by the Royal Bank
of Canada.

BIFS provides training and
education for Bahamian pro-
fessionals and, according to
Kim Bodie, executive director
of the Institute, the ability for
Bahamians to learn from what
banking institutes elsewhere in
the world are doing to better
prepare their professionals will
be a major benefit arising from
the four day meeting.

“There will be the opportu-
nity to network with our coun-
terparts, to hear what is going
on in their jurisdictions, how
they are dealing with challenges
in their industry and what types
of new training programmes
they are introducing to keep
their employees abreast of com-
petitive markets.”

“We are very small, and
these people will be coming
from large industrialised coun-
tries, so we can all learn from
them,” said Ms Bodie.

Nathaniel Beneby, Jr., presi-
dent and country head, RBC
Bahamas, said: “This is a major

COLINA ENJOYING 5.27 PROFIT RISE

FROM page 1B

conference within the global
banking industry. By sponsor-
ing this event, we are support-
ing both the Bahamas Institute
of Financial Services and the
international delegation of
banking executives who will be
visiting the Bahamas to attend
the conference.”

Close to 200 international
and local delegates are regis-
tered for the event to date.

gS
a k ou
“yeh
Sheraton

ae

= 400) ere

The new 700 room Sheraton Nassau Beach Resort, The Bahamas is looking for

Director of Rooms

Responsible for short and long term planning and day-to-day operations of the rooms and
related areas. Recommend budget and manage expenses within approved budget constraints.
Major areas of responsibility/management include: Front Office, Guest Services, Housekeeping,
Security, Gift Shop and Health Club. May have responsibility for Recreation and Tennis.
Participate in total hotel management as a member of the hotel Executive Committee.

Essential Functions

* Manage the human resources in the rooms division in order to attract, retain and
motivate the employees. Hire, train, develop, empower, coach and counsel, conduct
performance and salary reviews, resolve problems, provide open communication
vehicles, discipline and terminate, as appropriate. Oversee departmental matters as

they relate to collective bargaining agreements and the labour laws.

* Develop, recommend, implement and manage the rooms division’s annual budget,
business/marketing plan, forecasts and objectives to meet/exceed management
expectations.

* Implement company programs and manage the operations of the division in
a manner consistent with local laws and regulations and Starwood policies and
procedures to ensure a high level of quality and customer satisfaction.

* Resolve customer complaints as appropriate to maintain a high level of customer
satisfaction and quality.

* Implement emergency organization procedures and training through the management
of the Security staff to ensure appropriate protection for hotel guests, staff and
company assets.

Skills & Abilities

* Must be able to speak, read, write and understand the primary language(s) used in
the workplace.

* Must be able to read and write to facilitate the communication process.

* Requires good communication skills, both verbal and written.

* Must possess basic computational ability.

* Most tasks are performed in a team environment with the employee acting as a team
leader. There is minimal direct supervision.

* Must possess supervisory and management skills to communicate and express ideas
and directives clearly to employees.

* Knowledge of computer accounting programs, math skills as well as budgetary
analysis capabilities required.

¢ Advanced knowledge of the principles and practices within the rooms discipline and
hospitality profession, including experiential knowledge for management of people
and complex problems.

* Ability to study, analyze and interpret complex activities and/or information in order
to improve new practices or develop new approaches.

¢ Ability to make decisions with only general policies and procedures available for
guidance.

* Must be able to negotiate, convince, sell and influence professionals and/or hotel

guests.
Qualifications & Experience
¢ High School or equivalent education required, Bachelor’s Degree preferred.

* Four to six years experience in Front Office/Housekeeping/Guest Services, including
at least four years supervisory experience, required.

Qualified applicants are invited to visit our website or email resumes at:
subrjobs@sheraton.com
Note: All information will be held in strictest of confidence

Deadline for all applicants is April 8, 2011



Large Selection of Small Appliances cre

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the life and health divisions remained healthy, keeping pace with
the increased revenues in 2010 due largely to improved net invest-
ment returns, management of administrative costs associated with
claims, and appropriate adjustments for risk exposures.

“We evaluate and structure our investment portfolio to deliver
sustainable long-term returns based on market opportunities,”
said Mr Hilts. The company’s investment portfolio saw an increase
in net investment income to $29.5 million compared to
$27.8 million in the prior year. This increase was achieved due to
improved returns on a larger invested asset base.

Invested assets increased by $12.3 million to $421.3 million,
compared to $409 million in the prior year, and remain a significant
proportion of total assets at 80.2 per cent. About 35.2 per cent or
$148.5 million of invested assets are invested in Bahamas Gov-
ernment Registered Stock.

The balance of investments, none of which exceed 17% of the
invested asset portfolio, is invested largely in fixed deposits, listed
equities, preference shares, investment property, mortgage loans
and policy loans.

Colina Holdings (Bahamas) strengthened its total equity position
to $115.5 million, an increase of $12.2 million over the prior year.
Ordinary shareholder equity increased to $77 million, compared to
$70.3 million in 2009.

The Minimum Continuing Capital and Surplus Requirement
(MCCSR) ratio, the calculation of an insurer’s financial strength,
was 197.9 per cent at December 31, 2010. This indicator increased
from 179 per cent at the end of 2009.

“Looking ahead, we are very optimistic about the future,” said
Mr Hilts. “We have grown revenues and investment yields, and
stayed true to our disciplined focus on risk management. We will
continue to bring an intense focus to executing our growth strate-
gies, enabling us to meet the expanding financial needs of our
customers.”

Virose eM bem Rei lie§
Wee oe mee

TAYLOR INDUSTRIES

SS SS ee meer ee tT Pamala]

Visit our web site at
etre re sae





PAGE 4B, FRIDAY, MARCH 18, 2011

THE TRIBUNE



eS INES eee
5-15% transport savings strategy

FROM page 1B

pany would only see a single
cost on the invoice for total
transportation costs, freight and
shipping, and had no way of
working out the former costs.
Marvin Switzer, chief oper-
ating officer of C2C Logistics,
New Level Logistics’ (NLL)
third party logistics carrier in
the US, explained that out of
“45 to 50” analyses conducted
of freight moving into the
Bahamas since last July, it was
discovered that the importer
could - through negotiating

agreements with carriers with
which it has relationships -
achieve an average reduction
in the cost of the ground trans-
portation involved of between 5
per cent and 15 per cent.

C2C Logistics said it needed
information from Bahamian
companies on what they are
having shipped, in what quan-
tities and from which regions
in the US. It then presents this

Sheraton
ibs

a ae

information to carriers with
whom it has relationships, and
seeks to find the most cost-
effective option for shipping the
Bahamian importer’s goods. In
some cases, the company can
negotiate a fuel rate, allowing
this often fluctuating cost to be
fixed.

C2C Logistics suggested its
history in the industry and rela-
tionships with US carriers allow

The new 700 room Sheraton Nassau Beach Resort, Nassau, The

Bahamas is looking for

Chef De Cuisine

Support and assist the Executive Chef. Oversee the day-to-day culinary operations of
the hotel’s “fine dining” room. Train and supervise staff and monitor food quality.

Essential Functions

* Select, train and supervise kitchen staff in the proper preparation of menu items, equipment

and safety measures.

« Evaluate performance, give guidance and discipline as necessary to promote quality products.

« Visually inspect, select and use only the freshest fruits, vegetables, meats, fish, fowl and other
food products of the highest standard in the preparation of all menu items.

* Read and employ math skills for following recipes.

« Prepare requisitions for supplies and food items for production in workstation.

* Observe production flow and make adjustments in order to adhere to control procedures for
cost and quality.

Skills & Abilities

« Must be able to speak, read, write and understand the primary language(s)
used in the workplace.

« Must be able to read and write to facilitate the communication process.

* Requires good communication skills, both verbal and written.

« Must possess basic computational ability.

« Must possess basic computer skills.

* Thorough knowledge of food products, standard recipes and proper
preparation.

« Ability to analyze, forecast data, and make judgments to ensure proper
payroll and production control.

« Ability to supervise large staff and accomplish goals on a timely basis.

« Ability to conduct meetings, menu briefings and maintain communication
lines between line staff and Director, Food & Beverage.

Qualifications & Experience

* High School or equivalent education required, Bachelor’s Degree preferred.

* Minimum of two years experience as a Sous Chef in a high-end, high quality
operation.

Qualified applicants are invited to visit our website or email resumes to:
snbrjobs@sheraton.com
Note: All information will be held in strictest of confidence

Deadline for all applicants is April 8, 2011

©
Pane or

The National Insurance Board
of the Commonwealth of The Bahamas



Proposal For Independent Auditors

The National Insurance Board (NIB) invites suitably qualified accounting firms co submita 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 can be accessed ar wwwnib-bahamas.com
The proposal should include, but not be limited to:
. General information on the firm and its local and/or international affiliates,

| The qualifications and experience of che principals of che firm, including comments regia ring
ather professional staff members’ skills and competence,

! i" . is . . . i = * . . = = « .
. Information on the firms audit SX PerleMce Li tinancial institucions similar in size or nature to

the NIB.

4. The approach and time-line that will be adopted for the audit and related services that che firm
can provide the NIB.

. Comments with respect to the firm’ independence.
b. Estimates of fees and billings.

Proposals should be addressed to:
The Director
THE NATIONAL INSURANCE BOARD
Clifford Darling Complex
Baillou Hill Road
Nassau, Bahamas

and marked “Proposal to Serve as Independent Auditors”, to arrive at the Director's Office no
later than 4:00 p.m, on Friday, April 29, 2011. The NIB reserves che right ro rejece any or all

tenders.



it to negotiate better shipping
arrangements and costs than
buyers would get if they sim-
ply ask their suppliers to ship
“the best way” they can.

“When you say ‘ship it the
best way’, you’ve totally lost
control of one of your biggest
expenditures - the shipping
part. The ground transporta-
tion all the way from say, the
middle of America, to Miami.
That’s where we come in,” said
Mr Switzer.

“We’ve done a number of
studies since probably July of
last year regarding the
Bahamas, and we usually find
we can create savings of
between 5 to 15 per cent
depending on what your trans-
portation spend is. Depending
on what your annual spend is,
that’s a lot of money you can
put back into your company
and your economy here in Nas-
sau.”

While the company charges a
“one-off consultancy fee” for
analysing Bahamian companies’
data to determine what savings
could be procured, later costs
would not be felt, said Mr
Switzer, as C2C Logistics would
be compensated “out of the
savings we get from the carrier,
not disturbing the client at all.”

Mr Johns said: “Because my
background is in transportation
in the US, I have found a niche
that can empower people in the
Bahamas, who may not know
what the US industry is about
and how it has been taking

advantage of the offshore and
Bahamian merchants and the
society at large.”

Mr Johns said the service
New Level Logistics is provid-
ing will not only help many
companies save money on
transport but also “give them
more options” on where they
can buy goods from.

“We have some Bahamian
companies who only buy in
Florida. They may not realise
that they have the chance now
to have options to find suppliers
elsewhere and have a trans-
portation provider. Because of
‘pre pay and add’ in the off-
shore market, Florida mer-
chants are not necessarily going
to be the lowest price in pro-
viding to you. They have to
charge money to get all their
suppliers under one roof,” Mr
Johns said.

“That transportation price
will be passed on to Bahamian
merchants, and then they will
stack or add a higher rate of
transportation in the unit price
of the goods and the merchants
won’t know the difference
unless they have their own (dis-
count freight program).”

Highlighting the cost-savings
New Level Logistics and its
partners can achieve, he said
the company was yesterday due
to sign a contract “with a large
Bahamian company” which has
annual average US ground
transportation costs of $1.2 mil-
lion.

“We have provided an analy-

sis for them, in terms of the bid
process that goes ou. This
Bahamian company had 10
companies that wanted to par-
ticipate in the bid, and so we
will be saving this company 22
per cent of their ground trans-
portation costs per year as a
result. The customer’s expec-
tation was hoping that we could
do 10 per cent. Now they are
looking to move to the consol-
idation and the ocean portion
of their costs,” said Mr Johns.

Virginia Strapp, buyer/pur-
chasing officer for the Nassau
Airport Development Compa-
ny, said she felt the seminar
“opened up our eyes to a lot of
things that goes on behind the
scenes that we are not privy to
from our suppliers”.

“T think it could lead to some
savings. They are familiar with
the suppliers, the trucking
agents and all that, so they can
deal with them better than we
can. Plus if they can alleviate
some of the issues about where
packages are, tracking and so
on, that would really help,” she
added. Seminar attendee Sheni-
cia Williams, of Common-
wealth Building Supplies, said
she was particularly keen on
the fact that New Level Logis-
tics offers a chance for clients to
track their goods.

“That’s an issue for every-
one. Sometimes you can’t track
packages. So from the point of
ordering to your consolidators,
if you know what’s up with the
cargo then you will be able to
translate a better timeframe to
customers. As it is we have to
wait until it gets to Tropical to
see when we might get it. So I
think we’ll do the analysis and
try it; that can’t hurt,” she said.

ROBIN HOOD CHIEF: | MAY LEAVE BAHAMAS

FROM page 1B

the millions and millions [in duties] I’ve paid
over the last 11 years, which I’m sure are in the
tens of millions, the fines ’ve received from them
for thousands of containers never exceeded
$10,000.

“Even if that number was ten times’ that
amount, I defy you to find someone with a better
record than that.”

Tribune Business sources close to the matter
yesterday said Robin Hood had come under par-
ticular scrutiny from Customs over the last two
months, which appears to now have been sup-
plied with information and told where to look. It
is understood that Wednesday night’s raid was
intended to secure information and evidence in
an investigation into whether the retailer has
evaded paying due taxes by supplying Customs
with invoices that under-value goods being
imported.

The Customs/police action is also likely to
delight Robin Hood’s direct competitors and the
wholesale industry, many of whom have in the
past expressed concern to Tribune Business about
how the retailer was able to sell products at prices
much lower than theirs. In some cases, its con-
sumer prices were the wholesale prices rivals
were paying.

Several informed sources have suggested that
Mr Schaefer has brought much of this on himself,
especially with his outspoken comments in the
media, where he has repeatedly tweaked the
noses of rivals and the wholesale industry in par-
ticular. When it comes to the latter, the Robin
Hood president has repeatedly said he purchas-
es 95 per cent of his produce direct from abroad,
cutting out the middleman and threatening the
wholesale-retail model in the Bahamas. His com-
ments, and operation, have been seen as a threat
to the establishment.

Tribune Business was made aware from whole-
sale sources late last year that there was a col-
lective move in the industry to effectively put
Mr Schaefer in his place, with a lobbying effort
underway to convince the Government - through
Customs and Immigration etc - to clamp down on

what they claimed were his “unorthodox” busi-
ness practices.

However, Mr Schaefer said: “Ultimately, this
is terribly sad for me. I came here with a dream,
the dream to allow the little guy to afford things
he was not able to afford. I came into the food
business three years ago, and this is not spin, but
food prices have gone down rather than up over
that time because of the pressure we’ve put on
the competition.

“People feel I’m the trespasser, I have no right
here, I’m bucking the trend, fighting the institu-
tion........ ” Referring to the Prime Minister’s
remarks about him, and his past as an Olympic
level wrestler, he added: “He’s picking on the
wrong guy.

“T’m a fighter, all my employees are fighters,
every family that depends on us are fighters. At
this point, I will do everything in my power to
make sure we serve the Bahamian community as
we have done.”

Yet Mr Schaefer also said of himself and his
family: “We’re at complete peace, but we may
have to leave the Bahamas. It would be an extra-
ordinarily bad day for us, not one we would
choose, but so be it. At the end of the day, we
would probably have to leave here with pretty
much what we came with, which is not a lot, but
we would have no problem with that.”

Mr Munroe, meanwhile, said he had written to
Customs yesterday questioning the legal basis
on which it had seized Robin Hood’s main serv-
er, plus every CPU flash drive, CD and some
accounting files from the company’s administra-
tion unit.

Questioning whether Robin Hood’s competi-
tors were treated in this manner by Customs,
Mr Munroe said he had offered, on the compa-
ny’s behalf, to allow the Department to take
copies of the records it wanted to investigate.

Describing Customs’ actions as “foolishness”,
Mr Munroe said he had also urged the Depart-
ment to return everything that had been taken,
since it would have had time to copy the data. He
added that he was seeking a reply from Customs
by end of business yesterday afternoon, but it
could not be confirmed whether this had hap-
pened.

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 Island
Bridge with effect from the Monday March 21 to Friday April 1 2011. This exercise
wil affect the Easter 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 io Friday. Work may resume after 3:30pm or
when traffic reduces, if needed, in order to ensure that work is completed on

schedule,

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

The Bridge Authority apologizes for any imconvenience caused, and assures it
Customers and Stakeholders, that all efforts will be made to have the inspection

works concluded as quickly as possible.



Billy Scavetla
General Manager
The Bnoge Authonty



THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 5B



err es
Bahamas has ‘one of best implement plans for the EPA

FROM page 1B

leading trade specialist,
Branford Isaacs, over these
comments, Mr Laing said:
“When he heard our imple-
mentation plan, he said to
me we had one of the clear-
est and most complementa-
tion plans he had seen/heard
of.

“We have a most compre-
hensive, extensive EPA
implementation plan we are
working on diligently. They
[the CARICOM official]
must be unaware of what we
are doing. I would have
thought they would have
taken time to come and
speak to us about what we
are doing, so they would be
aware.”

Mr Laing said the transi-
tion period that the EPA
allowed the Bahamas and
other signatories lasted for
“three years or so”, giving
them time to make the
required legislative and pol-
icy adjustments to bring
them into full compliance
with their obligations under
the agreement.

“There are legislative
amendments that have to be
made to the Customs Man-
agement Act in relation to
Rules of Origin and such
like, there’s intellectual
property legislation adjust-
ments, and competition pol-
icy,” he added.

“There are a raft of things
that have to be done. We
are proceeding with them.
We have drafted legislation
with respect to many of
these things. They have to
go through a process, but I
am very comfortable with
respect to where we are,
keeping up with compliance

Colina suffers
over Walk-In,

FROM page 1B

swing into the red, incurring
a net loss of $867,658 com-
pared to a $579,951 profit
the previous year.

As a result, Colina Hold-
ings (Bahamas) went from
earning a $173,985 profit on
its 30 per cent investment in
2009 to a $260,297 loss last
year. Still, with Walk-In
Holdings possessing total
assets and liabilities of
$8.309 million and $3.677
million respectively, giving
it net assets of $4.631 mil-
lion, the insurance holding
company’s investment in the
company is still in the black.

Holding a $1.389 million
share of Walk-In Holdings’
balance sheet, Colina Hold-
ings (Bahamas) 2010 year-
end accounts show that with
$2.233 million in goodwill
added, in the total value of
its investment is now $3.622
million - a more than
$200,000 increase on the
price paid for its 30 per cent
stake.

Meanwhile, Colina Hold-
ings (Bahamas) holds a 19
per cent stake in the merged
Ansbacher (Bahamas)/Sen-
tinel Bank & Trust through
SBL Ltd.

It acquired this by paying
a collective $8 million itself
and through its Colina
Insurance subsidiary, but
this investment still has to
pay dividends.

However, the value of
that investment has fallen to
$7.125 million, even though
the private bank cut its loss-
es in 2010 by more than 75
per cent year-over-year,
reducing them from $2.999
million in 2009 to $731,577
in 2010.

That reduced Colina
Holdings (Bahamas) losses,
through SBL Ltd, from
$569,899 to $139,000 in 2010.
With SBL having total assets
and total liabilities of
$136.853 million and
$108.959 million respective-
ly, resulting in net assets of
$27.893 million, the insur-
ance company’s share of the
balance sheet was $4.69 mil-
lion.

Goodwill of $1.825 million
and intangible assets of
$608,772 took its total
investment to $7.125 million.

with the EPA.”

Mr Laing pointed out that
many of the structures sup-
posed to be created by the
EPA to oversee it, includ-
ing numerous committees,
were yet to be properly
formed, “but we are work-
ing and doing what it is we
are required to do under the
EPA”.

Asked whether the costs
associated with EPA com-
pliance would be prohibitive
for the Government, espe-
cially given its current fiscal
predicament, Mr Laing said
the Ingraham administration
was merely doing what it
would have to do anyway,
in terms of national devel-
opment and the World
Trade Organisation (WTO)
accession process.

“The cost is not exorbi-
tant,” he added, “because
the reality is that many of
the things we are being
asked to do under the EPA
we have to do from a
national development per-
spective. The resources to
do them are already in hand.

“We are acceding to the
WTO, and that will require
adjustments to competition
laws, intellectual property
laws, rules or origin and
modernisation of Customs
administration.

“It’s all part and parcel of
participating in the modern
trade regime of the interna-
tional community. The cost
is incremental, for the most
part, in the ordinary course
of doing business.”

Mr Laing also said there
was “no issue” over con-
cerns expressed in other

$675 net loss
bank interests

media that the Bahamas had
failed to declare the export
duties it imposed on EU
exports when the EPA
agreement was signed.

He explained that unlike
other members of the CAR-
IFORUM bloc, who had
negotiated a three-year tran-
sition period during which
to phase out their own
export duties, the Bahamas
did not need this treatment.
As a result, it never asked
for this transition period to
be included in the annexes
to the EPA agreement when
it was signed in late 2009.

And, Mr Laing said, Cus-
toms had stopped imposing
export duties on Bahamian
exports to the EU - chiefly
crawfish - in 2009 to ensure
this nation was EPA com-
pliant.

Noting that the tax rev-
enues foregone by the Gov-
ernment were “not signifi-
cant”, Mr Laing said only

two Caribbean nations had
asked for the three-year
transition period to bring
them into compliance with
the EPA stipulation that all
export taxes be removed.

“Mr Isaacs [of the Imple-
mentation Unit] indicated
that subsequent to the sign-
ing, it was discovered that
the Bahamas charged an
export duty, but we did not
want to be part of this three-
year transition phase,” Mr
Laing explained.

“We never put anything
on the schedule that said:
‘OK, we want a three-year
transition’...... There’s an
export duty that’s on the
books in the Bahamas, but
having signed the agree-
ment, the Government does
not charge or levy that duty
on shellfish being exported
to Europe. We ceased doing
so in 2009.”

Describing the situation
as “a non-issue”, Mr Laing

NOTICE

Please be advised that Lana Simmons is no

She cannot and should not be conducting
business of any sort on our behalf.

Sign Management

‘dl a

vol aaah
Sheraton

Sa

Hho he



The new 700 room Sheraton Nassau Beach Resort, Nassau, The Bahamas is looking for

Director of Operations

Assist the General Manager in administering and managing the hotel’s operation,
maintaining established costs and quality standards. Responsible for the hotel operation
in the absence of the General Manager. Participate in total hotel management as a member
of the hotel Executive Committee.

Essential Functions

* Plan, organize, staff, direct and control the hotel and operate the hotel in the absence of
the General Manager following internal, regional and Starwood policies and

procedures.

* Develop maximum profits through cost and labor control; maintain the highest standard
of services to the guests, including maintenance and cleanliness for the guests’ rooms
and associated facilities; maintain the highest standards of security for hotel patrons
and employees and maintain the highest standards of quality and service in the Food &

Beverage Department.

* Direct and coordinate the Rooms Division operations in conjunction with the General
Manager and Hotel Manager to meet the daily needs of the hotel including, but not

limited to, staffing, forecasting, controlling, and supervision.

* Direct and coordinate with the Director, Housekeeping to ensure that housekeeping
procedures are established to maximize production, regulate linen and housekeeping
supplies and to ensure the cleanliness of the facility. Certify that procedures and
controls are implemented for the laundry operation.

Skills & Abilities

* Must be able to speak, read, write and understand the primary language(s) used in the

workplace.

* Must be able to read and write to facilitate the communication process.

* Requires good communication skills, both verbal and written.

* Must possess basic computational ability.

* Advanced knowledge of the principles and practices within the rooms discipline and
hospitality profession, including experiential knowledge for management of people and

complex problems.

* Ability to study, analyze and interpret complex activities and/or information in order to
improve new practices or develop new approaches.
* Ability to make decisions with only general policies and procedures available for

guidance.

Qualifications & Experience
* Bachelor’s Degree or equivalent education/experience required.
* Four to five years of employment in a related position.

Qualified applicants are invited to visit our website or email resumes at:

snbrjobs@sheraton.com

Note: All information will be held in strictest of confidence

Deadline for all applicants is April 11, 2011



said the Bahamas still had
some legislative clean-up
work to do in relation to
international trade, ensur-
ing that statute reflected the
reality on the ground.

“If one speaks to the letter
of the law, one of the things
that happened during the
WTO accession process was
that any number of issues
were raised about matters
in law not being in keeping

with what is practiced,” the
minister told Tribune Busi-
ness.

“We are fulfilling our
obligations under the EPA
because we are not levying
export duties on exports to
Europe, and have done ever
since the end of 2009. We
will have to formally make
some amendments to the
legislation, so that in law
itself these things are not an
issue. There has to be a
piece of legislation passed
in relation to the EPA.”

The National Insurance Board

of the Commonwealth of The Bahamas

Request for Contractors Pre- Qualification

The National Insurance Board (NIB) is seeking to pre-qualify Contractors te bid an the

Renovationsof the Public Restrooms within the Claughton House Building located on

Shirley Street, Nassau, Bahamas, Contactors nvust be in compliance with the National

Insurance Hoard Acr | sx ia] Sec Uri PCHETSITIT HG |, A i meonid stanll ney ith Te (ee VE
| b 5
. Ls

Cravernment agencies,

Pre-qualification documents may be collected from NIB's Headquarters Building,

Clitford Darling Complex, Baillou Hill Road, during the period March 21-25, 2011, o

downloaded frown the Boards webslrear wwrwunily-be hanes.com

Pre-qualificarion documents should be signed, sealed and returned co-the Office af the

Directorin an envelope addressed to The Director, The Nasional Insurance Board, with

Claughton Howse Building, Shistey Street, on or belure 12 Noon on Friday, March 25,

201

COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT

2010

CLE/qui/01590

Common Law and Equity Side

The Petition of Raleigh I. Butler Sr. in respect of:-

ALL THAT tract of land containing 1,045.128
Acres being a part of the original Crown
Grant to Thomas Fraizer situate in the vicinity
of Carmichael Pond and Sandy Point and

otherwise known as

‘The Fraizer Tract’ as

well as “Carmichael’ on the Western End of
the Island of Rum Cay one of the Islands of
the Commonwealth of the Bahamas and ALL
THAT tract of land containing 1,526.41 Acres
being a part of the original Crown Grants to
Andrew Deveaux, Benjamin Lord Jr, and
William Slater in the vicinity of Hartford Caves
on the Northern Coast of the Island of Rum Cay
one of the Islands of the Commonwealth of the

Bahamas.

Raleigh I. Butler Sr. claims to be the owner of the
fee simple estates in possession of the said lands and has
applied to the Supreme Court of The Bahamas under 8.3
of the Quieting Titles Act, 1969 in the above action to
have its title to the said lands investigated the nature and
extent thereof determined and declared in a Certificate
of Title to be granted by the court in accordance with
provisions of the said Act. Copies of the said plans may
be inspected during normal office hours at the Registry
of the Supreme Court, East Street, N.P., and at the
Chambers of C.F. Butler & Associates, Charles E. Carey
Building, Dowdeswell Street, Nassau, Bahamas.

NOTICE IS HEREYBY GIVEN that any person
having dower or a right to dower or any adverse claim
not recognized n the Petition shall before the 2â„¢ day of
May A.D., 2011 file in the said Registry of The Supreme
Court and serve the Petitioner or the above C.F. Butler
& Associates a statement of such claim in the prescribed
form verified by an Affidavit to be filed herewith.
Failure of any such person to file and serve a statement
of such claim by the above time will operate as a bar to

such claim.

C.F. BUTLER & ASSOCIATES
Chambers

Top Floor, Charles E. Carey Bldg.
Dowdeswell Street

Nassau, The Bahamas

Attorneys for the Petitioner





Full Text


PAGE 6B, FRIDAY, MARCH 18, 2011

THE TRIBUNE





DISASTER |) JAPAN

Doubts rise over ECB rate
hike after Japan quake

DAVID McHUGH,
AP Business Writer
FRANKFURT, Germany

Market certainty is eroding
that the European Central
Bank will follow through with
an interest rate hike it has all
but promised, due to the
financial turmoil unleashed
by Japan's natural disasters
and unresolved nuclear crisis.

While many economists
have said the ultimate impact
on the global economy is still
difficult to assess — and might
be modest — the market jit-
ters could cause the bank to
pull back from its March 3
statements that many took as
a near-guarantee it would
raise its key rate.

Bank President Jean-
Claude Trichet said then that
the bank would exercise
"strong vigilance" on infla-
tion — taken as a code word
that an inflation-fighting
increase was imminent to pre-
vent inflationary expectations
from becoming built into the
economy. Consumer prices
increased 2.4 percent in April
in the countries that use the
euro — above the bank's goal
of just under 2 percent.

Since then, violent upris-
ings in the Middle East have
pushed oil prices to two-year
highs — and continue to





INTERNATIONAL
BUSINESS

threaten instability across the
region — and Japan's disas-
ters triggered days of panic
on financial markets.

"If in the run-up to the
April ECB meeting stock
prices were to remain under
severe pressure and volatili-
ty stayed elevated, the cen-
tral bank would have to
reconsider its position on
rates," Marco Valli, chief
eurozone economist at Uni-
credit Research, said Thurs-
day.

If the ECB holds off, it
would be a rare about-face
for Trichet and the bank's
governing council but not
unprecedented — the bank
reversed the course of its

NOTICE
BAHA MAR DEVELOPMENT
COMPANY LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14° day of March,
2011 the following resolutions were passed:

monetary policy at the start
of the financial crisis in 2007.

Financial markets suggest
investors are prepared for
such a scenario. Expectations
for overnight interest rates in
the eurozone a year from now
have slipped to 1.65 percent
from 1.9 percent immediately
after Trichet's statement. The
drop would amount to remov-
ing one quarter-point increase
from the bank's actions over
the next months.

Doubt

But not everyone agrees.
"At this stage, we doubt that
the horrific and tragic events
in Japan will deter the ECB
from acting, as the economic
effects on the eurozone cur-
rently look unlikely to be
appreciable,” said Howard
Archer at IHS Global Insight.

He expects a rate increase
of a quarter percentage point
at the April meeting.

There is only one precedent
for the bank announcing
"strong vigilance" and then
not following through.

That was in August, 2007,
when the bank reacted to the
sudden worsening of the sub-
prime mortgage crisis in the
United States by reversing
course and pouring credit into



(AP Photo/Michael Prbst)

TAKING A LONG VIEW: Head of European Central Bank Jean-Claude Trichet takes off his glasses during
a press conference in Frankfurt, central Germany, Thursday, March 3, 2011. Trichet announced that the
ECB keeps its main interest rate unchanged.

the banking system instead of
tightening down, according to
analyst Nick Mathews at
RBS.

The ECB's move will in
part depend on whether the
economic uncertainty over
Japan eases some of the
recent upward pressure on oil
prices, said Mathews.

If other stock markets sag

NOTICE

BAHA MAR HOTEL
HOLDINGS LTD.

like Japan's Nikkei, "that
would argue in favour of the
ECB delaying rate hikes."

So far, stock markets have
taken a sharp hit, though they
steadied on Thursday, with
European and U.S. indexes
up | to 2 percent.

The ECB's key rate is at a
record low of 1 percent,
where it has been since May

2009 to support growth
through the financial and debt
crises.

But now that Europe's
economy is recovering, the
bank has said it is wary of
workers and businesses build-
ing higher costs — largely
from rising food and energy
prices — into their wage and
price agreements.

NOTICE

BAHA MAR RESORTS LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-

RESOLVED that BAHA MAR DEVELOPMENT
COMPANY LTD. be wound up voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P. O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.
H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BAHA MAR RESORT
VENTURES LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BAHA MAR RESORT VENTURES
LTD. be wound up voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P. O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14% day of March, 2011.
H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BML LAND LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BAHA MAR WE LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P. O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.

H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14% day of March,
2011 the following resolutions were passed:

RESOLVED that BAHA MAR HOTEL HOLDINGS
LTD. be wound up voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14% day of March, 2011.
H& J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BAHA MAR WE LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BAHA MAR WE LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.
H& J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

N.B.H. HOLDINGS LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BML FOUR LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The

Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.

H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

named Company duly convened and held on the 14" day
of March, 2011 the following resolutions were passed:

RESOLVED that BAHA MAR RESORTS LTD.
be wound up voluntarily.

RESOLVED that TONI GODET of Lyford
Manor, West Building, P. O. Box N-7776 (Slot 193)
Nassau, The Bahamas be appointed the Liquidator
for the purpose of such winding up.

Dated the 14" day of March, 2011.
H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BML FOUR LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BML FOUR LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The
Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.

H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company

NOTICE

BML TWO LTD.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the above-named
Company duly convened and held on the 14" day of March,
2011 the following resolutions were passed:

RESOLVED that BML TWO LTD. be wound up
voluntarily.

RESOLVED that TONI GODET of Lyford Manor,
West Building, P.O. Box N-7776 (Slot 193) Nassau, The

Bahamas be appointed the Liquidator for the purpose of
such winding up.

Dated the 14" day of March, 2011.

H & J CORPORATE SERVICES LTD.

Registered Agent
for the above-named Company


THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 7B



BUSINESS
DISASTER | JAPAN

Stronger economic reports help
stocks rebound despite Japan crisis

NEW YORK

Signs that the U.S. economy
is improving helped investors
put aside fears over Japan's
nuclear crisis Thursday, if only
temporarily.

A gauge of manufacturing in
the mid-Atlantic region jumped
in February to the highest point
since January 1984. The survey
from the Federal Reserve's
Philadelphia branch showed
new orders soared. Production
at U.S. factories, mines and util-
ities dipped last month but was
actually higher in previous
months than first estimated,
according to the Federal
Reserve.

The Labor Department
reported that the number of
people applying for unemploy-
ment benefits fell more than
economists expected last week.
Ongoing claims dropped to the
lowest level since October 2008.

"It's a reminder that the U.S.
economy continues to gain
momentum," said Alan Gayle,
senior investment strategist at
RidgeWorth Investments in
Richmond, Virginia. "Eco-
nomic growth leads to more
spending, more production and
ultimately rising profits,” he
said. "And at the end of the
day, that's what investors buy:
rising profits.”

Gains in the stock market
were broad. All of the 10
groups rose in the Standard &
Poor's 500 index, the basis for
most U.S. mutual funds. Twen-
ty-six of the 30 stocks that make
up the Dow Jones industrial
average rose, led by a 3.2 per-
cent increase in Hewlett-
Packard Co.

The Dow gained 161.29
points, or 1.4 percent, to
11,774.59. The index fell 242



WEATHERING A CRISIS: A man walks by an electronic stock board of a securities firm in Tokyo Monday,

Feb. 28, 201.

points Wednesday, its largest
drop since August.

The Standard & Poor's 500
rose 16.84, or 1.3 percent, to
1,273.72. With Thursday's gains,
the Dow and S&P 500 are up
more than 1 percent for the
year.

The Nasdaq rose 19.23, or 0.7
percent, to 2,636.05. The tech-
nology-heavy index is down 0.6
percent for the year.

FedEx Corp. rose 3 percent.
The world's second-largest
delivery company said revenue
rose 11 percent in the most
recent quarter, mostly due to
higher shipping rates. FedEx
said those higher rates may help
it beat earnings forecasts in the
future. United Parcel Service
Inc., FedEx's rival, rose 1.7 per-
cent.

The dollar dropped to an all-
time low against the Japanese
yen late Wednesday, reaching
76.53 yen to the dollar. By
Thursday afternoon, the yen
had weakened and was trading
at 78.97 yen to the dollar. When
the yen loses strength, it takes
more yen to buy one dollar.

A stronger yen would hurt
Japan's exporters, potentially
dealing another problem to an
economy already wracked by
an earthquake, tsunami and
evolving nuclear crisis.

A separate report from the
Labor Department showed
consumer prices edged higher
in February. The Consumer
Price Index rose 0.5 percent last
month, slightly stronger than
forecasts. Core prices, which
exclude food and fuel costs,

JAPAN SPRAYS MORE CASH OVER JITTERY MARKETS

TOMOKO A. HOSAKA,
Associated Press
TOKYO

Japan's central bank sprayed
more cash over jittery money
markets Thursday as a major
bank's ATMs suffered a two
and a half hour outage nation-
wide and the yen shot toa
record high.

The Bank of Japan injected
an additional 6 trillion yen
($76.7 billion) in same-day
funds after the dollar hit 76.25
yen in the morning — an all-
time low for the greenback in
the aftermath of Friday's earth-
quake and tsunami that killed
thousands and triggered an
unfolding nuclear crisis. With
same-day funds, banks in need
can access cash immediately.

Mizuho Bank, Japan's third
biggest lender, said 5,600 auto-
matic cash dispensing machines
were back online by midday
after blacking out at about 9
a.m. It didn't explain the out-
age, which had added to
already rattled nerves.

The capital Tokyo endured
more rolling blackouts Thurs-
day and faces months of power
shortages because of earth-
quake damage to nuclear and
conventional power plants.

The utility that serves Tokyo
has been forced to slash power
supplies by a quarter. Power to
parts of the sprawling region,
which produces 40 percent of
Japan's economic output, is cut
for three hours a day.

Around the country, people
queued for fuel and emptied
supermarket shelves of food

and other necessities. Hundreds
of thousands of people in the
devastated northeast continued
to shelter in temporary accom-
modation.

Driving the yen to unprece-
dented highs were predictions
that big Japanese investors like
insurance companies would
repatriate funds from overseas
en masse to cover the cost of
tsunami damage to northeast-
ern Japan, said Masafumi
Yamamoto, chief foreign
exchange strategist at Barclays
Capital in Tokyo.

The repatriation hasn't hap-
pened yet, so the volatility is
"highly speculative," he said.
The market is now betting that
the finance ministry and Bank
of Japan will intervene to sell
the dollar and weaken the yen.
A strong yen hurts Japan's
exporters, potentially deepen-
ing the already severe hit to the
world's No. 3 economy from
the multiple disasters.

Analysts at Goldman Sachs
estimated that Japan's disaster
losses could reach $200 billion,
which is more than 3 percent
of Japan's gross domestic prod-
uct.

The hardest hit prefectures
(states) — Iwate, Miyagi,
Fukushima and Ibaraki — rep-
resent about 7 percent of
Japan's economy.

The region is home to steel
plants, oil refineries, nuclear
power plants and factories mak-
ing parts for cars and electron-
ics. Roads and other transport
networks are crippled, while
power supplies are constrained.

The latest offer of central

bank funding didn't prevent
stocks from losing ground
again. The Nikkei 225 stock
average closed down 1.4 per-
cent at 8,962.67 after plunging
on Monday and Tuesday before
partly recovering on Wednes-
day.

The Bank of Japan conduct-
ed emergency operations for
the fourth day in a row, adding
to the 55.6 trillion ($688 billion)
it provided money markets the
previous three days. Of that fig-
ure, 28 trillion yen were same-
day funds.

By flooding the banking sys-
tem with money, it hopes banks
will continue lending and meet
the expected surge in the
demand for post-disaster funds.

Financial markets nervously
monitored the rapidly chang-
ing situation at a crippled
nuclear power plant in the
northeast. On Thursday, Japan-
ese military helicopters dumped
loads of seawater onto the
plant, trying to cool danger-
ously overheated uranium fuel
rods that may be on the verge
of spewing more radiation into
the atmosphere.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, MARCEL ERICK
PIERRE-LOUIS of the Eastern District of the Island of New
Providence, Bahamas, intend to change my name to
MARCEL ERICK TURNQUEST. If there are any objections
to this change of name by Deed Poll, you may write such
objections to the Chief Passport Officer, RO.Box N-742,
Nassau, Bahamas no later than thirty (80) days after the
date of publication of this notice.

ICE

Pursuant to the provisions of Section 137 (8)
of the International Business Companies Act,
2000 (As Amended) NOTICE is hereby given
that, SAFGAS 1066 HOLDINGS LIMITED has
been dissolved and that the name has been
struck from the Register of Companies with
effect from the 23rd day of December, 2010.



(AP Photo/Koji Sasahara)

KWENENG CARBON HOLDINGS LIMITED
Montague Sterling Centre
East Bay Street
P.O. Box N-3924
Nassau, The Bahamas

edged up 0.2 percent, the same
as the previous month.

Three stocks rose for every
one that fell on the New York
Stock Exchange. Consolidated
volume came to 4.3 billion
shares.



Sheraton

A=:

The new 700 room Sheraton Nassau Beach Resort, The Bahamas is looking for
Director of Food & Beverage

Direct and organize the Food & Beverage function within the hotel in order to maintain high
standards of food and beverage quality, service, and merchandising to maximize profits.
Participate in total hotel management as a member of the hotel Executive Committee.

Essential Functions

« Plan and direct the functions of administration and planning of the Food and Beverage
Department to meet the daily needs of operation.

* Clearly describe, assign and delegate responsibility and authority for the operation of the
various food and beverage sub-departments, 1.e., room service, restaurants, banquets, kitchens,
stewards, etc.

* Develop, implement and monitor schedules for the operation of all restaurants and bars to
achieve a profitable result.

* Participate with the chef, outlet managers, and catering managers in the creation of attractive
and merchandising menus designed to attract a pre-determined customer market.

* Implement effective control of food, beverage and labor costs among all sub-departments.

« Assist the area managers in establishing and achieving predetermined profit
objectives and desired standards of quality food, service, cleanliness, merchandising
and promotion.

Skills & Abilities

« Must be able to speak, read, write and understand the primary language(s) used in the
workplace.

* Must be able to read and write to facilitate the communication process.

« Requires good communication skills, both verbal and written.

* Considerable knowledge of complex mathematical calculations and computer accounting
programs. Budgetary analysis capabilities required.

* Ability to access and accurately input information using a moderately complex computer
system.

« Ability to effectively deal with internal and external customers, some of whom will
require high levels of patience, tact and diplomacy to diffuse anger, collect accurate
information and resolve conflicts.

« Most tasks are performed in a team environment with the employee acting as a team
leader. There is minimal direct supervision.

Qualifications & Experience

* High School or equivalent education required, Bachelor’s Degree preferred.

« Several years experience in overall Food & Beverage operation as well as management
experience. Culinary, sales and service background required.

Qualified applicants are invited to visit our website or email resumes at:

snbrjobs@sheraton.com
Note: All information will be held in strictest of confidence
Deadline for all applicants is April 8, 2011










= FG
Ge

CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

a

caw AT.

ROYAL FIDELITY

honey an Werk

Se

BISX LISTED & TRADED SECURITIES AS OF:
TUESDAY, 15 MARCH 2011

clec7l

BISX ALL SHARE INDEX: CLOSE 1,447.31 | CHG -10.59 | %CHG -0.73 | YTD -52.20 | YTD % -3.48




FINDEX: YEAR END 2008 -12.31%

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







S2wk-Low

O.17 Benchmark

2.70 Bahamas Waste
1.96 Fidelity Bank
9.43 Cable Bahamas
2.35. Colina Holdings

5.80 Commonwealth Bank ($1) 6.82 6.82 0,00.

Securit_y
0.95 AML. Foods Limited

9.05 Bahamas Property Fund
4.40 Bank of Bahamas

Previous Close Today's Close Change
1.09 1.09 0.00

10.63 10.63 0.00

4.40 4.40 0.00

0.18 0.18 0.00

2.70 2.70 0.00

1.96 1.96 0.00

Daily Vol. EPSS$ Div $ P/E

6 0 0.123 8.9
0.013 eer
0.153 28.8
-0.877 N/M
0.168 16.1
0.016 122.5
1.050 9.0
0.781 3.1
0.488 14.0
oO.111 18.9
0.107 13.1

10.21 9.43 -0.78
2.40 2.40 0,00.

0.357 14.7
0.682 8.6
0.494 18.9
0.452 12.1
0.000 N/M
0,012 616.7
0.859 11.4
1.207 8.3:

i 1.90 Consolidated Water BDRs 2.14 2.10 -0.04
- 1.40 Doctor's Hospital 1.40 1.40 0,00.
is 5,25 Famguard 5,25 5.25. 0,00.

5.65 Finco 5,88 5,88 0,00.
oF FirstCaribbean Bank 8.39. 9,35. -0.04
4.57 Focol (S) 5.47 5.47 0,00.

Household Furniture, Baby Items, : 1.00 Focol Class B Preference 1.00 1.00 0.00

5.50 ICD Utilities 7.40 7.40 0,00.

Antique Furniture, & Plants . a ee oS aS =
March 19, 2011 8 a.m.- 12 p.m.

BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)
Security Symbol Change Daily Vol. Interest
Bahamas Note 6.95 (2029) BAH29 99.46 0.00 6.95%
Fidelity Bank Note 17 (Series A) + FBB17 100.00 0.00 7%
Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00, Prime + 1.75%
Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7%
Fidelity Bank Note 15 (Series D) + FBB1S5 100.00 0.00 Prime + 1.75%
RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)
Symbol Bid S Ask Last Price Daily \ou.
Bahamas Supermarkets N/A N/A 14.00
RND Holdings 0.35 0.40 0.55
CFAL Securities Ltd. (Over-The-Counter Securities)
ABDAB 30.13 31.59 29.00
RND Holdings 0.45 0.55 0.55
BISX Listed Mutual Funds
Fund Name NAV YTD% Last 12 Months %
CFAL Bond Fund 1.6179 5.51% 6.90%
CFAL MSI Preferred Fund 2.9486 0.04% 1.45%
1.5141 CFAL Money Market Fund 1.5837 0.61%
2.8522 Royal Fidelity Bahamas G & | Fund 2.7049 -0.56%
13.0484 Royal Fidelity Prime Income Fund 13.4392 0.61%
101.6693 CFAL Global Bond Fund 114.3684 9.98%
99.4177 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
1.0000 FG Financial Growth Fund
1.0000 FG Financial Diversified Fund
9.1005

S2wk-Hi S2wk-Low Last Sale Maturity
20 November 2029
19 October 2017
19 October 2022
30 May 2013

29 May 2015

Directions: Prince Charles East past Super Value Win-
ton. Take the last corner before you reach the beach (the
corner is on the left, the name of the street is Adam St).
Drive until you reach the cross section, turn left going up
the hill. 4th House on the right.

NOTICE

NOTICE is hereby given that HAROLD HUGHES of
P.O. BOX F-42578, 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 18th day of
MARCH, 2011 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

EPSS$
-2.945
0.001

Div ME
0.000
0.000

4.540
0.002

0.000
0.000

NAV 3MTH
1.498004
2.918256
1.564030

NAV GMTH
1.475244
2.910084
1.545071

1.4076
2.8300 28-Feb-11
11-Feb-11
31-Jan-11
31-Jan-11
30-Jun-10

4.59%
-15.54%
-0.22%
12.49%
7.18%
5.20%
4.73%
5.35%

109.392860
100.779540

107.570619
4.75% 105.776543
5.20%
4.73%
5.35%

106.5528
1.1465
1.1185
1.1491

30-Sep-10
31-Dec-10
31-Dec-10
31-Dec-10
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 1

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

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

Royal Fidelity Int'l Fund - Equities Sub Fund

9.7950 4.85% 5.45% 30-Nov-10

10.0000
10.6417 -1.20% 0.50% 30-Nov-10
9.1708
1.27%

9.95%

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 from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month earnings

(S) - 4-for-1 Stock Split - Effective Date 8/8/2007

(S1) - 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


PAGE 8B, FRIDAY, MARCH 18, 2011 THE TRIBUNE

FOOD AND GAS PRICES





aR Ua

WASHINGTON







Americans paid more for
food and gas in February, dri-
ving up consumer prices at the
fastest pace in nearly two years.

The Consumer Price Index
rose 0.5 percent in February, the
largest increase since June 2009,
the Labor Department said
Thursday. Core prices, which
exclude food and energy, rose
only 0.2 percent, matching Jan-
uary's gain.

Gas prices jumped 4.7 percent
in February, above January's
increase but below December's
rise. Oil and gas prices have BUSI N FSS
risen sharply since the beginning
of the year due to political tur-
moil in the Middle East.

Food costs increased 0.6 percent, the most since September
2008. Food costs rose for almost all major grocery store groups,
including meat and eggs, dairy, and fruits and vegetables. The cost
of cereals and baked goods was flat, the only group that didn't
increase.

Bigger food and gas bills may limit Americans’ ability to buy
discretionary goods, and that could hamper economic growth.
Rising raw material costs are also reducing profit margins at
some companies.

There are also concerns that inflation could spread. New car
prices also jumped 1 percent, and airline fares and medical care
costs rose. Clothing costs dropped 0.9 percent, after a sharp rise
in January.

Despite those gains, economists said there is little sign that
price increases outside of food and energy will get out of hand.

W h h d 5 0 00 0 3 "High unemployment and modest wage gains should contin-
= ‘e t=) red 7 I = : r | @ n S 0 n ue to keep a lid on ... inflation," said Sal Guatieri, an economist
= at BMO Capital Markets.

HH F e) k d | T ; b t nie | Some companies are starting to pass on higher raw materials

: \@} 7 e 00 @ n "J a a ie) Cc = [ rd = a yo U r costs to consumers. Kimberly-Clark Corp. said Thursday that it

{ is raising prices on its Huggies diapers, Cottonelle toilet paper and
other child care products. The move is intended to offset higher
costs for wood pulp and oil.

| Other companies are reporting lower profits due to higher
re | f Ss) ol Ul f C commodity costs. FedEx Corp. said Thursday that earnings fell
+ lh 3 percent in the December-February quarter because of rising
fuel prices and bad winter weather. The drop occurred even
7 though the package delivery company also raised prices to offset
| oil costs.
| â„¢) Strong economic data

pots to more hiring





(AP Photo/Seth Perlman, file)
HARVEST TIME: In this file photo taken Oct. 7, 2010, central Illinois farmer Bob Hogan climbs back into his combine
while harvesting soybeans in Pawnee, Ill. Wholesale prices outside of the volatile food and energy categories rose at
the fastest pace in more than two years last month, a sign inflation could be rising as the economy strengthens.

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

you can win in this HOT PROMOTION!
line at the Volvo plant in Dublin, Va. Factories produced more cars,

Win BlackBerries, cell phones, phone cards, 7 Va. cl
appliances, computers and furniture in February, lifting manufactur-

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ny bas announced plans to hire

P R O M OT | 0 N R U N 5 F ROM ‘rae a Factories are producing more —_7,000 workers over the next two

cars, computers and household __ years just to build new models,

aed ; pas
March 7th to April 8th, 2011 oom Se



(AP Photo/Steve Helber)
FINAL ADJUSTMENTS: In this Jan. 26, 2011 photo, workers make
final adjustments in the inspection area on the Volvo truck assembly

the past four weeks are at the Rising factory output sup-
lowest point since summer ports "more high-paying jobs,
2008. and more high-paying over-

"

Economic data released time," said Brian Bethune,
Thursday suggest that March chief U.S. financial economist
will be the second straight at IHS Global Insight.
month of strong job growth. Fewer people are seeking
And the reports helped Wall | unemployment benefits. Appli-
Street rebound a day after the cations fell last week for the
market suffered its biggest drop third time in four weeks, the
in seven months. Labor Department said. The

Still, rising prices for house- four-week average has dropped

- . £
C | ( ' a * “4 to a 386,250 — the lowest level
TO B E OM E A FA N OF B Vi S| T y, * - oF hold necessities and trouble sin Ce July 2008. That's near the

overseas could slow the U.S. 2 i
economy in the coming months. 375,000 level that, if sustained,

i "We have alot of momen- tends to signal declines in the
-a i e 0 0 apf tum in the U.S. economy right | Wnemployment rate.
F 7 now,” said Kurt Karl, chief =
UP ee | | economist at Swiss Re. "That's Fed to Soon give green
www. fac ebook. com/mybtc and | a Fy ox F a good, particularly since we're i aaah

‘ : Jaga ine tobe challensed by hich. MQHt On Bank dividends
click the LIKE’ button at F Soi ade pack WASHINGTON
=< J Japan's earthquake and nuclear

crisis. : The Federal Reserve plans
A key reason for the brighter _{o tell some major banks on Fri-
outlook is that factory produc- gay whether they are healthy

: tion increased in February for enough to boost stock divi-
COnMNES as a O.. the sixth straight month. The — dends.

Federal Reserve said produc- Banks can increase dividends

tion of cars and auto parts if they pass "stress tests" show-

jumped 4.2 percent, nearly ing that they can weather

matching January's gain. Pro- another recession.

duction of furniture, electronics All of the 19 largest banks
and appliances all rose. overseen by the Fed were sub-

Manufacturing output has ject to the examinations —
grown in all but four months — even if they didn't intend to
since the recession ended in increase their dividend pay-
June 2009. And manufacturers ments. Those banks include

> have created 190,000 jobs over Citigroup, Bank of America,
i the past year, the highest 12- JPMorgan Chase & Co. and
CALL BTC 225-5282 month total for that group since Wells Fargo. The Fed's first
www.btebahamas.com Ge

= a eae La alone a stress | ui conducted in
www ries adde : net newjobs. 2009 when the country was
facebook.com/mybtc or ees 2 ee ecueo Ford Motor Co. ite reeling from a severe eon
month that it would boost fac- and financial crisis. Those
tory production 13 percent in results were made public in a
ENTERPRISE | WIFELESS | BROADBAND | VOICE | DIRECTORY the January-March quarter in move to boost confidence in
response to greater demandfor __ the fragile U.S. banking system.


(i The Tribune

im lovin

HIGH
LOW

81F
69F

SUNNY AND

BREEZY

Volume: 107 No.96



LATEST ae Kew

FRIDAY, MARCH 18, 2011



ON WWW.TRIBUNE242.COM



PLPs blast PIM:
personal altace

MPs say Ingraham’s remarks
about Robin Hood owner were
‘improper and threatening’

By CELESTE NIXON
Tribune Staff Reporter
cnixon@tribunemedia.net

OPPOSITION MPs yester-
day criticised the prime min-
ister’s remarks about business
owner Sandy Schaefer, which
they regard as a "personal
attack” on the businessman.

In a joint statement issued
yesterday, Fox Hill MP Fred
Mitchell and Ryan Pinder MP
for Elizabeth said that Prime
Minister Hubert Ingraham's
remarks about Robin Hood

owner Mr Schaefer were
"improper, inappropriate, and
threatening."

Mr Ingraham, speaking
about Mr Schaefer criticisms
of the road work project on
Prince Charles Drive follow-
ing a tour of the new Public
Treasury building Wednesday
morning said: "It is most
regrettable that such a person
has been allowed to have that
type of business in the coun-
try. He is not a good person

SEE page nine

CUSTOMS RAID ON ROBIN HOOD “HAD
NOTHING TO DO WITH PM COMMENTS’



CUSTOMS
Comptroller
Glen Gomez

Great Rovours! Unbeotoble Price!

CUSTOMS Comptroller Glen Gomez
said last night that the Customs and Police
raid on Robin Hood’s Harrold Road store
Wednesday night had nothing to do with
Prime Minister Ingraham’s comments earli-
er that day that the owner of the store was
“not a good person for the Bahamas.”

Mr Gomez said the Customs and Police
had gone to the main store at closing time
Wednesday night to get a computer that
would help them in investigations they had

SEE page nine

5 8 say
on

NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER



I PATRICK'S NY iris

Pate

=
i.



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

URCA SET T0
INVESTIGATE STEVE
MCKINNEY SHOW

URCA has formally

i requested a copy of a show
i hosted by Steve McKinney
: as part of an investigation
i into whether Gems Radio
i Station has contravened com-
i munications regulations.

On March 16, the regulator

i issued a formal notice which
i stated: “In accordance with
i Section 53(1) of the Commu-
? nications Act, 2009 the Utili-
? ties Regulation and Compe-
i tition Authority (URCA) has
i issued codes that shall be
? observed by licensees pro-
? viding audio/visual media ser-
i vices. Such codes were issued
: by URCA on April 9, 2010.

“This notice 1s to advise

SEE page nine

TIM CLARKE/TRIBUNE STAFF



GREEN SCENE: Junkanooers entertained tourists and pedestrians on Charlotte Street at the St Patrick’s Day festival vestotdiy afternoon. Local
businesses partnered with the Ministry of Tourism to create the event, complete with themed food and drink specials, face painting, and enter-

tainment. Last night, merchants touted the event as a huge success ‘which drew both visitors and residents

DR ANDRE ROLLINS
APPLIES TO BE PLP
CANDIDATE FOR
FORT CHARLOTTE

By PAUL G
TURNQUEST

pturnquest@
tribunemedia.net

DR Andre Rollins con-

fi The Tri i
ce 7 8 ; tthompson@tribunemedia.net
applied to the PLP’s Fort }

Charlotte branch to be }

SEE page nine

CTT aaah See) a aa Na
MeO a ee Ue

DETRACTORS of the gov-

? ernment's $210 million sale of
? BTC are calling on the coun-
: try's religious leaders to "cover"
: them at a series of prayer vigils
? hosted ahead of Monday's
Tribune Staff Reporter :

planned demonstration.

Tribune Staff Reporter

SEE page nine



The call came at an anti-pri- :

rae Solar mpenec ue : PROPERTY OWNER’S
ise y peta ion ationa : ASSOCIATION

Rescue, a civic group headed :
by former Cabinet minister in :

vatisation town meeting organ-

SEE page nine

¢ SEE PAGE TWO

PETER NYGARD
ISSUES CEASE AND
DESIST LETTER TO

FASHION mogul and

long-time Lyford Cay resi-
i dent Peter Nygard has
i issued a cease and desist let-

2 FNMS ‘NOT EXPECTED’ TO BREAK RANKS OVER BIC :

By TANEKA THOMPSON

i ter to his property owner’s
? association.

Citing intimidation from

the private security firm
? hired to patrol the gated

SENIOR members of the Free National Movement do not expect } Tesidential community, Mr
: any Parliamentarians within their party to break rank and vote }

their new representative i against the privatisation of BTC.

Nygard’s legal counsel has

i} also lodged a formal com-

SEE page nine

/@BEe& Marathon Mall - Downtown - arma Bay - Palmdale @

ONT ee
ey TS TT See


PAGE 2, FRIDAY, MARCH 18, 2011 THE TRIBUNE

LOCAL NEWS





































































Brent Symonette

DPM Symonette
Calls for more
caring society

By LINDSAY THOMPSON

DEPUTY Prime Minister
and Minister of Foreign
Affairs Brent Symonette
called on the Church of God
of Prophecy to strengthen
partnerships towards a more
caring society.

He was addressing the 90th
Annual National Convention
of the Church of God of
Prophecy at the East Street
Tabernacle on Monday.

The week-long convention
under the theme: “Led By His
Spirit”, is advocating for a
better community through
spiritual guidance.

“The Church of God of
Prophecy is notable in our
community not least of all
because it has always taken
an all-embracing approach to
life, including the wider com-
munity together with its reg-
istered membership in its out- ne | nit ‘ ae
reach,” Mr Symonette said. : pS Fe ee | : 3 Photos: Tim Clarke/Tribune Staff

He acknowledged the : Di. 3 = ; ae) :
church as a place for having a

reputation of happiness and Scenes from yesterday’s St Patrick’s

joy; of spiritual sanctuary and - BS 1. af ee -| Day Festival held on Charlotte
eae aces innate , S Ss oy Street. Local businesses partnered
always to be uplifting and soul J ‘ 5 = 1 with the Ministry of Tourism for the

affirming. > ae ae event.
He said although the gov- Xe aa
ernment has made significant
progress in improving the
quality of life, a new affinity
with materialism and a weak-
ening of traditional family val-
ues as well as the illicit drug
trade continues to wreak hav-
oc on Bahamian society.
“And so I heartily embrace
the call of the Church of God
Incorporated in the Bahamas
for us — the church, the gov-
ernment, the family, the peo-
ple — to be led by the spirit; to
become even better partners
in our country so that we
become a more caring, com-
passionate and Christian
Bahamas,” Mr Symonette
said.
He pledged the govern-
ment’s continued support to
secure and expand funding
for education and for techni-
cal vocational training espe-
cially for the youth, notwith-
standing these difficult eco-
nomic times.
“We remain conscious also
of the special needs of our
senior citizens who need an
extra helping hand. We look
to continuing to work with
you to strengthen pro-
grammes of assistance for the
aged particularly where the
church is able to expand its
involvement,” Mr Symonette
said.

Rei

aS

te ee be lle 3
ett nes wal eet
ye se

ate pita | Byte



i'm lovin’ it.
THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 3





Man convicted oo

armoured truck
Pobhery attempt has
Conviction quashed

By NATARIO McKENZIE
Tribune Staff Reporter

A MAN convicted of
attempting to rob an
armoured truck outside a
bank in 2007 had his convic-
tion and sentence quashed by
the Court of Appeal yester-
day.

Ryan Omar Butler was con-
victed last September of
attempting to rob armored
truck driver Andrew Knowles
outside the Royal Bank of
Canada’s Prince Charles
Branch on December 21,
2007.

The Court of Appeal found
yesterday, however, that the
evidence presented did not
support the charge.

The court is expected to
deliver a written judgment at
a later date.

Butler was represented yes-
terday by attorney Roberto
Reckley. Vernal Collie
appeared for the prosecution.

Butler appeared jubilant
following the court’s decision
yesterday. At the trial, prose-
cutors had alleged that Butler
was one of two armed men
who banged on the door of an
armored truck and demanded
that the employees inside it
open the door.

However, the robbery
attempt was thwarted by a
police reservist and an off-
duty police officer, who were
nearby. Prosecutors contend-
ed that Butler was shot during
capture.

Butler claimed he was
merely an innocent bystander
and that police shot him acci-
dentally. He claimed that at
the time of the incident, he
was heading to the Super Val-
ue food store in the Prince
Charles Shopping Centre to
purchase milk for his girl-

friend. Butler had been initial-

ly charged with Raymond
Bastian. However, Bastian
was gunned down on Abun-
dant Life Road in what police
described as a "drive-by
shooting” two days before the
start of the trial.

German convicted of
ossessing marijuana
has sentence reduced

THE Court of Appeal has
reduced the prison sentence

of a German man convicted of

the possession of $30,000
worth of marijuana.

Hans-Jiirgen Rolf Fink, 47,
of Berlin, was convicted last
August after admitting to pos-
session of 30lbs of marijuana
with intent to supply.

The drugs were reportedly
seized from a home in
Pinewood Gardens where
Fink lived with his wife.

Fink, who claimed to be a
Drug Enforcement Adminis-

tration (DEA) informant, said

that the drugs were part of a
shipment.

Fink claimed he had been
involved in a drug run to
Jamaica and had been a DEA
informant.

Fink told the court he had
been given the drugs to give
to someone else.

Fink’s wife was ordered
deported after the prosecu-
tion withdrew the charges
against her.

Fink told the appellate
court yesterday that he felt his
36 months sentence was
excessive.

The court reduced his sen-
tence yesterday to 18 months
to take effect from the date of
his conviction.

Youth group manager
expected in court
over alleged theft

THE Tribune understands
that a senior manager of a
well known youth group is
expected to appear in court
today concerning the alleged
theft of tens of thousands of
dollars from the organisa-
tion.

When contacted the direc-
tor of the group, said he was
unable to comment at this
time, but that the organisa-
tion would release a state-
ment at a later date.

LOCAL NEWS

1 Tourism chiefs hail potential

"of the Latin American market

? Foulkes hit back at PLP’s criticism of the con-

COPA Airlines prepared to upgrade flights to country

COPA Airlines, which fur-

? ther opened the Bahamas to
i the Latin American market, is
i already prepared to upgrade its
i flights to the country if the
? demand is high when it begins
i serving Nassau in June,
i Tourism Director General

nmckenzie@tribunemedia.net David lohaeon sata Tiesday.

Mr Johnson laid out for

? dozens of tourism stakeholders
? the actions that the Ministry of
i Tourism & Aviation is taking to
? attract more visitors from Latin
? America and to better serve
i: them. In addition, he pointed
i to the potential economic gains.

Initially, COPA Airlines will

i begin its non-stop service from
i Panama City to Nassau with
i Embraer jets that seat 94 pas-
? sengers. However, Mr Johnson
? said, COPA also has Boeing
? 737-800s that carry more than
i? 170 passengers. Those jets can
i be positioned in the Bahamas if
: the number of travellers
i demands it.
? capacity to immediately, if
i demand is there, upgrade to a
i larger jet,” Mr Johnson said.

“They have the

COPA has committed 20,000

i? seats to Nassau in its first year.
i This has the potential to double
? the Bahamas’ arrivals from
i Latin America.

Additionally, Mr Johnson

i said all Bahamian islands could
i benefit from COPA’s presence
? through agreements the airline
i has with Bahamasair that allow
i COPA to sell “directly and
i? seamlessly” into Bahamasair’s
:? flights. This will allow travel-
? ers on the Panama City to Nas-
i sau flight to make direct con-
i nections to islands such as



Derek Smith/BIS

ADDRESS: Director General of Tourism David Johnson addresses
tourism stakeholders on the importance of Latin American market.

Grand Bahama, Exuma, Abaco
and Eleuthera. Mr Johnson
encouraged Bahamians to
embrace the Latin American
visitors, offering them the pro-
fessional care that should be
delivered to all guests.

“Tf they are happy, I can tell
you these are folks who spend
money,” he said. “There is no
recession in Latin America.”

Frank Comito, executive vice
president of Bahamas Hotel
Association, said there is
tremendous economic poten-
tial in the Latin American mar-
ket. “There is no recession in
Latin America,” Mr Comito
said. “The continued growth
of economies like Brazil and
Mexico contributed to the
region’s 6.6 per cent growth (in
2010). That is more than triple
the growth in the United States
last year.”

The size of Latin America’s
population also makes it a
potentially lucrative market for
tourism. “The combined pop-
ulation of the US and Canada is
just under 500 million people,”

Mr Comito said. “They repre- }
sent almost 90 per cent of our }
total number of visitors to the }

Police investigate shooting of man

500 million people. They rep- }
resent around 2 per cent of our }

total visitor population to the } in the Kemp Road area.

Bahamas today. The popula-
tion of Latin America is over

Bahamas today.”

are greater than that of China,
and as of 2010, Argentina,

Chile, Uruguay, Mexico and :
Panama were classified as high }

income countries.

RENTAL FEES FOR PRIVATE POST OFFICE BOXES PAST DUE

i ACTING Postmaster General Leslie
i Cartwright yesterday advised members of the
? public that rental fees for private post offices
i? boxes are past due and should have been paid on
? or before January 31, 2011.
i Persons who rent post office boxes are advised
i that until March 31 they may be allowed to retain

CREDIT Suisse

their box(es) only after payment of a penalty :
charge of $10 in addition to the rental fees. Fail- :
ure to comply within the specified period will :
result in the closure of the boxes which may be :
assigned immediately to other persons due to }
the limited availability of boxes. :

Credit Suisse AG, Nassau Branch

is presently considering applications fora

Senior Globus System Developer

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

Qualifications:

- At least Five (5) 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/T24 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/T24 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/raining 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

Or Fax: 1-242-356-8148

DEADLINE: March 18, 2011



: troversial Bell Island development in the Exuma
? Land and Sea Park yesterday.

? ter of Labour and Social Development said the
} opposition was “hypocritical” in their complaints
} against the government’s approval of the project,
? as several developments within the protected
? park were approved under the Christie admin-
? istration. Mr Foulkes said: “Under their admin-
} istration they allowed to be dredged four separate marinas and har-
: bours. We saw no evidence that there were any EIAs (environ-
i mental impact assessments) done on any of those cays.”




MINISTER LASHES BACK AT
MG NIGD Rm ating)

FNM Cabinet Minister and Senator Dion

Speaking in the Senate yesterday, the Minis-



DION FOULKES

And, Mr Foulkes tabled documents concerning developments at

three cays: Soldier, Indigo and Wax Cay.

Soldier Cay and Indigo Cay, he said, are less that 400 feet from

Bell Island, while Wax Cay is on the border of the park.

Defending the Bell Island project, Mr Foulkes said that several

EIAs were undertaken and that the developer completed all the

requirements of the government, the Town Planning Department
and the Bahamas National Trust.

Late last night, police were investigating the shooting of a man

The victim was shot in his chest near St Margaret’s Church

The hispanic population in shortly before 6.30pm, and taken to hospital by private vehicle.

the United States is the fastest : i :
growing ethnic population in | could not give further details.
that country. Over 15 million }
people in the US categorise }
themselves as being of Latin }
Americna descent. Nearly half ;
of them say Spanish is their pri- }
mary language. Mr Comito also }
pointed out that Goldman }
Sachs’ Review of Emerging }
Economies projects that Brazil }
and Mexico will be among the }
world’s five largest economies }
by 2050. Peru, Venezuela and }
Colombia are among nations }
that have per capital GDPs that }

Up to press time, police were still processing the scene and

SCastrol

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PAGE 4, FRIDAY, MARCH 18, 2011

THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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., P.O. F-485, Freeport, Grand Bahama

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608

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

Tribune sellers being corrupted by ‘operatives’

IT SEEMS that The Tribune has been
unwittingly drawn into the vortex of a quar-
rel between two Lyford Cay neighbours,
neither of whom do we know personally.

Recently we received a letter from Mr
Louis Bacon’s London solicitors stating that
they understood that “copies of a column
entitled ‘Hard Copy Off Air Special Col-
umn’, originally published in The (name
withheld), are on occasion being inserted
into copies of The Tribune creating the
impression they are being distributed as part
of the newspaper.”

We have withheld the name of the other
newspaper mentioned, although we have
spoken with its publisher who was as mysti-
fied as we were and maintains that no such
column was ever published in his newspaper.

We had never heard of any column of this
title, nor of such a radio programme. How-
ever, we were later told that the radio pro-
gramme of the same name was a Steve McK-
inney show.

Mr Bacon’s London lawyers said that the
“contents of the column are frequently high-
ly defamatory” of their client.

Mr McKinney must have received a sim-
ilar letter from Mr Bacon’s lawyers, because
we are told that about a week ago he had a
disclaimer on his show denying all responsi-
bility for the newspaper inserts and stating
that his show, “Hard Copy,” was not affili-
ated with the flyer.

We are told that he said that the respon-
sible parties have been warned about the
use of the “copy-written name” of his show
in the flyer. This statement suggests that Mr
McKinney knows who the “responsible par-
ties” are. His statement also confirms that
flyers are being inserted into local newspa-

ers.

Of course, we have had our own investi-
gators out trying to find out what Tribune
sellers are accepting money to insert these
flyers into The Tribune. As expected no
one is admitting guilt, but they all know that
if they are discovered the consequences for
them will be serious.

However, someone very close to one of
the disputing neighbours has given us two
names. He claims that these two persons —
both persons very well known to us — had
the flyers inserted into the papers at “the

NOTICE is hereby given that SHERYL

McKinney Drive off Fire Trail Rd., P.O.BOX N-4037,
NASSAU, BAHAMAS isapplyingtothe 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

ALCITA of

depots and distribution points.”

When we first received the lawyer’s let-
ter we were in disbelief, because when any-
thing like this happens many of our readers
call The Tribune immediately to inform us of
the abuse. This time, however, there were no
calls, which leads us to believe that these
insertions were targeted only for the exclu-
sive Lyford Cay area.

One of our reporters called Mr Nygard’s
Nassau lawyer, who admitted that “certain
persons” had been doing things on behalf of
Mr Nygard without his consent, approval or
knowledge. The lawyer said he had contact-
ed Mr Nygard to ask about the flyers only to
be told by Mr Nygard that he had no idea
that anything like this had been going on.
This suggests that Mr Nygard’s lawyer also
knows the identity of these persons. It has
been further suggested that they are the
same names that we now have in our pos-
session, one of whom was well known for
doing things for Mr Nygard in the past.

Mr Nygard’s lawyer said that if persons
have been attacking Mr Bacon, his neigh-
bour Nygard has had nothing to do with it.
According to the lawyer, Mr Nygard has
never seen the flyers.

We do not expect this to end here. We
plan to hand over all the information that we
have been able to gather to Mr Bacon’s
lawyers and they can take it from there.

In the meantime we ask all of our readers
to telephone us immediately if they discov-
er any flyer in The Tribune that contains
questionable material.

When they give us this information, we
would also appreciate them noting whether
the newspaper was delivered to them,
whether they bought it up at a depot or
whether they bought it from one of the street
hawkers.

If from a depot or a street hawker it would
be helpful if they would let us know the
name of the depot, and in the case of a
hawker the area in which he was selling.

As for the culprits who would encour-
age these poor sellers to do something so
corrupt for a few dollars, they can rest
assured that the future holds no good for
them — particularly if we get the evidence
that we now need to conclusively confirm
what we already know.



Police escorts,
prisoner buses
and my moment
of acute distress

EDITOR, The Tribune.

I believe my letter will be
the third in one week that
addresses the transportation
of prisoners.

This afternoon at 4.30pm I
was driving west on the Mon-
tagu Foreshore. The traffic
going east was bumper to
bumper and barely moving.
Everyone going home at the
end of the day.

A car was ahead of me, and
when I looked just beyond, a
white police car and a yellow
bus appeared.

Both were barreling down
the road, totally and com-
pletely on my side, and at a
speed that was well over the
limit. The police car and bus
were overtaking the line of
traffic going east.

LETTERS

letters@tribunemedia.net



In a split second I knew I
was going to be hit head on.
There is nowhere to go on
that stretch of road, and the
car and bus kept coming.

I pulled left as far as I
could, pushing into bushes
and a wall, and still believing
then that the side and end of
my car would be gone in an
instant.

How I was spared, the dri-
ver in front of me, and the
line of cars heading east, is
beyond me.

When it was over I felt like
the air had been sucked out of

me and I was shaken to say
the least. Never have I expe-
rienced anything like this. I
live east, and often the “con-
voys” bear down on me while
I am driving home. It is
always a very distressing
experience, however, this time
I thought it was the end.

The Police Department, I
believe, is mandated to pro-
tect the citizens of The
Bahamas ...Whatever hap-
pened to protecting the
motoring public against police
escorts and prisoner’s buses?

My car is scratched....] am
alive...

There has to be a better
way. Who is in charge??

LEE OGILVIE
Nassau,
March 14, 2011.

What is an airport in 2011?

EDITOR, The Tribune.

Just have to comment on the
media cover for the opening of
the new US Departure Termi-
nal LPIA before we find our-
selves lost in wonderland.

A considerable improvement
however lets be careful Barba-
dos, Jamaica and Trinidad in
the region also have nice look-
ing and functional airports.

What is an Airport in 2011?

A functional item of basic
infrastructure to handle large
groups of passengers trying as
quickly as possible to move
from one ‘A’ to ‘B’, ‘B’ being
somewhere else not in The
Bahamas.

How can it be a magnet to
attract. Tourists? Dream-on
here.

The truth is in the pudding
already TSA/US Border Con-
trol on the US-Mexico border
are in trials for a biometrics
card instead of a passport which
you just position close to a scan-
ner and it will process you. Bor-
der Control as we see it at
LPIA or returning in the US
will very soon be a dinosaur.
The required two hour pre-
flight will be eliminated so all
the internal facilities of bars,
snack places and restaurants
will have little or no time to
serve passengers.

Thope not like Denver a few
years ago and more recently
the new British Airways Ter-
minal Heathrow NAD will
have run enough bags through
their Baggage system to ensure

PNA Ye

not be granted, should send a written and signed statement

of the facts within twenty-eight days from the 18'" day of

March, 2011 to the Minister responsible for nationality



Memorial Service for the Late



Sidney Willie Taylor

“Skinner”
1958 - 201]

Saturday, 19 March, 2011

Shaw Temple
ALLE. Zion
at [0:00am

Blue Hill Road and Peter Street

Prime commercial office space for rent,
Ideal for professional. Located Shirley
Street & Sears Road. Water, Electricity
& WiFi Internet Included.
Turnkey operation.

Aol Hehe on or ts

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

no hold ups and I hope the bag
retrieval for returning residents
and visitors improves by at least
50 per cent.

Yes an improvement — need-
ed long over due now let’s hope
we keep the place clean?

Remember what an Airport
is .....a basic functional item of
infrastructure.

W THOMPSON
Nassau,
March 1, 2011.

ltd ae ei Le
OF ST. PATRICK'S DAY

EDITOR, The Tribune.

For most people St Patrick’s Day is a day of parades, parties,
leprechauns and green beer. But just as Christmas is about
more than commercialized fun, so too does St Patrick’s Day

have a deeper meaning.

St Patrick’s Day began as a religious holiday honooring St
Patrick — a holy bishop sent to Ireland in 433 AD by Pope
Celestine I to draw its people into the fold of Christ’s univer-

sal church.

Upon his arrival at Ireland’s shores St Patrick encountered
many setbacks and persecutions by the superstitious Druids
who had employed magicians to maintain their sway over the

Trish race.

Despite severe trials, St Patrick was able to convert all of Ire-
land and conquer paganism. He is thus credited with driving
the Celtic “snakes” out of Ireland.

St Patrick is credited with many miracles and is responsible
for the building of several Catholic schools, monasteries and

churches throughout Ireland.

He is known for his powerful expositions of the principles of

the Catholic faith.

He even employed the ordinary, little, three-leaved sham-
rock plant to teach people about the Blessed Trinity. He was
called to his heavenly reward on March 17, 461.

St Patrick was a humble, pious gentle man, whose love and
total devotion to and trust in God should be a shining exam-
ple to each of us. He feared nothing, not even death — so
complete was his trust in God and the importance of his mis-

sion.

PAUL KOKOSKI
Canada,
March 12, 2011.



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 simultaneously.

Interested persons should submit their resumes
via email to:

accountsclerk@live.com

All resumes must be received by

18" March 2011.
THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 5



LOCAL NEWS

Beaked whales ‘disturbed by |
sounds of naval sonar testing’

Scientists release
findings of research
in the Bahamas

BEAKED whales are highly sensitive
to naval sonar testing and are disturbed
by the sounds, say scientists who moni-
tored the mammals in the Bahamas.

The research, led by scientists at the
University of St Andrews in Scotland, sug-
gests that the whales do their best to quick-
ly escape the disturbance, according to a
study published Monday.

The study was limited to Blainville's
beaked whales that swim near the United
States’ naval underwater range - AUTEC
— where sonars are in regular use off
Andros.

Diane Claridge, executive director of
the Bahamas Marine Mammal Research
Organisation, was one of the principal
investigators on the study.

The team played sonar sounds to the
whales and were able to measure their
reactions through electronic tags attached
to the mammals. The tags measured the
sounds the whales heard and their subse-
quent swimming patterns.

Chief Scientist Professor Ian Boyd, who
worked with an international group of sci-
entists, said the mammals swam away
quickly to avoid the sounds.

"We showed that the animals reacted
at much lower levels than had previously
been assumed to be the case. We stopped
exposing the animals to the sounds before
there were any dangerous effects but it
was clear that these whales moved quick-
ly out of the way of the sonars.

"We now think that, in some unusual
circumstances, they are just unable to get
out of the way and this ends up with the

Benedictine nun fulfills life-long dream

SISTER Annie Thomp-
son, a Benedictine nun of St
Martin’s Monastery on Nas-
sau Street, recently fulfilled a
life-long dream to visit
African Benedictine com-
munities when she travelled
to Uganda accompanied by
Sister Barbara C Schmitz
and Carolyn Fuhs of Indi-
ana.

During their stay, the
women had a chance to visit
the Uganda cities of Jinja,
Tororo, Butende and Arua
where they visited with oth-
er Benedictine sisters and
the monks of Tororo.

They also had a chance
to teach at a local school and
to witness a Faith-in-Action
Baptism ceremony in Irun-
du.

Sister Annie said that the
trip was truly amazing.

“In summary I would say
that this mission was a joy-



SCIENTISTS studied beaked whales (above) in the Bahamas.

animals stranding and dying. There was
always a strong association between the
death of these strange and little-known
animals and naval exercises. We have now
shown that this may well be the case."

Mr Boyd added that the beaked whales
are not only disturbed by sonar testing but
other underwater sounds as well.

"There is a tendency to blame the Navy
for every stranding event and that is ridicu-
lous. We are now beginning to understand
that some species of whales and dolphins
appear to be much more robust to distur-
bance by sound than others.

"We also found that beaked whales
responded in the same way to sounds oth-
er than sonars, including the calls of killer
whales. It appears that they just don't like
unusual sounds but the way in which
sonars are used to hunt for submarines



SISTER ANNIE THOMPSON gives a guitar lesson to Sister-in-train-
ing Peter Maria of the Benedictine Sisters of Tutzing, Uganda.

may mean that the whales are more vul-
nerable to that type of sound."

While Mr Boyd feels the research his
team gathered could help prevent whales
from stranding due to sonar testing, he
said he is also concerned about other
sounds from humans that disturb the ani-
mals.

".. .. am also worried that the general
levels of sound that humans make in the
ocean from all sorts of sources like ships,
oil and gas exploration and renewable
energy may be a much more serious prob-
lem for beaked whales and some other
sensitive species.

"Perhaps the most significant result from
our experiments is the extreme sensitivity
of these animals to disturbance."

The research was published in the sci-
entific journal PLoS One this week.

ia a
EXTERMINATORS
et) tat
PHONE: 322-2157



“SIGNIFICANT LEADS’ INTO ILLEGAL
_ FIREARMS, AMMUNITION DISCOVERY

POLICE said they are following significant leads in
: their investigation into the discovery of illegal firearms and
: ammunition at a Toote Shop Corner home.

Around 9.40 pm on Wednesday, officers of the Quakoo

! Street Police Station along with officers of the Central
i Detective Unit went to a home at Toote Shop Corner off
; East Street armed with a search warrant.

On arrival at the residence, police observed two men

POLICE are investigat-

? ing two armed robberies in
? which two stores — the A
i & D Power Buys on Faith
; Avenue and Margo’s Con-
i venience Store in Pinewood
i Gardens — were targeted.

A & D Power Buys off

Carmichael Road was held
i up around 2.22pm on
i Wednesday.

A man wearing a white

i T-shirt and short gray jeans
: entered the store, armed
i with a handgun,
i demanded cash.

and

The culprit robbed the

establishment of an unde-
; termined amount of money

fleeing. The officers conducted a search of the home and
i recovered two handguns with a quantity of ammunition.

ARMED ROBBERIES AT TWO STORES

and fled on foot in an east-
erly direction on St Vincent
Road.

A few hours later, at
around 9.50pm, police
received information of an
armed robbery at Margo’s
Convenience Store in
Pinewood Gardens. Police
responded and were told
that two men, one of whom
was armed with a handgun,
entered the store and
demanded cash.

The culprits robbed the
store of an undetermined
amount of money before
fleeing the area in an
unknown direction.



NOTICE

The telephone numbers por

WILLIAM WONG & ASSOCIATES

= REAL

y _

are as follows:

Tel: 242.327.4271 /2 «© Fax: 242.327

4273

email: willam@wwongrealty.com



wwongrealty.com

filled one. We feel that we
received much more than we
gave. We feel blessed to
have met so many wonderful
people and to have experi-
enced the ‘Pearl of Africa’.

“Meeting and interacting

with our Benedictine Sisters
and Brothers made a pro-
found impression on us. In
addressing the specific topics
from the Rule of Benedict,
Sister Barbara and I felt that
we were able to renew with

them the Benedictine values
and traditions of listening,
obedience, humility, conver-
satio morum and of keeping
a healthy balance between
prayer and work,” Sister
Annie said.

Business owners take advantage of
downtown Freeport’s prime location

THE Grand Bahama Port
Authority said it has seen a
considerable increase in the
number of applications for
new businesses in the down-
town area.

“New GBPA-sponsored
initiatives have greatly
impacted occupancy levels in
the International Bazaar, and
now we are experiencing
renewed interest from com-
mercial applicants in
Freeport’s city centre,” said
GBPA’s manager of customer
relations Nicole Colebrooke.

As earlier announced by
GBPA president Ian Rolle,
the Port’s business licence
application has been stream-
lined with a reduction in
required documentation.
Additionally, the approval
process has been reduced to
48 hours in most cases for
Bahamian applicants, GBPA
said.

Businessman Hercules
Knowles said he was amazed
at how quickly his GBPA
application was approved,
allowing him to open up a
bakery in the newly opened
Downtown Welcome Centre.

“The Port Authority
helped me tremendously,” Mr
Knowles said. “They gave me
an opportunity, told me what



HERCULES KNOWLES opened his new pastry shop in the heart of
downtown Freeport last November.

to do and helped me step-by-
step with everything. The
business licence application
process was very easy. I was
surprised myself.”

Opened since November
of last year, ‘Raspberry’s Pas-
try Shop’, Mr Knowles’ pastry
establishment caters to locals
and tourists alike. He
described this prime location
as an opportunity of a life-
time. “I’m in the right spot.
Also, being in the heart of
downtown, I feel like ’m a
part of the revitalisation that’s
taking place.

“Owning a business is a
challenge. It may be hard at

first and you will have a few
challenges but you have to
stick with it. Nothing good
comes easily and today, Ican
say I’m beginning to enjoy the
(fruits) of my labour,” said
Mr Knowles.

The multi-purpose Wel-
come Centre is an integral
component of the Downtown
Turnaround project launched
by GBPA in 2009.

Primary aspects of the 1,495
square foot handicap accessi-
ble structure include a Royal
Bahamas Police Force and
Road Traffic Division dual-
satellite station, restrooms
and a snack shop.








COLORS:
BLACK('
RUST
BLUE ¥
ORANGE
BURGUNDN
MUSTARD
FUCSHIA
TURQUOISE
OLIVE

SHOE STORE
121 EAST ST. PH 322-5276
PAGE 6, FRIDAY, MARCH 18, 2011

THE TRIBUNE



LOCAL NEWS






Bahamas
International
Film Festival

BIFF announce
the dates for
film events

THERE is still a ways to go

until the eighth annual
Bahamas International Film
Festival (BIFF) in Decem-
ber, but organisers said they
already have dates sched-
uled for special film events
during the next few months.

The BIFF Film Series has
partnered with First-
Caribbean Bank Interna-
tional and will be screening
films every first Thursday of
the month from April 7 until
November 3.

First up is “The Athlete”,
which tells the story of how
an unknown, barefoot
Ethiopian man who stunned
the world by winning
Olympic gold in the
marathon, becoming a sports
legend overnight.

The film will screen at 8pm
on April 7 at Galleria Cme-
ma 6, JFK.

In addition to the film
series, BIFF said it is also
partnering with Via Café and
the Nassau Downtown Part-
nership to host “Films In The
Square.”

Movies will be shown
every Friday at 7.30pm from
May 27 to August 26 in Raw-
son Square.

Since its launch seven years
ago, BIFF has showcased
more than 500 films from
more than 50 countries,
including this year’s Best Pic-
ture Oscar winner “The
King’s Speech.”

Minister: New cruise port ‘may
not be a reality anytime soon’

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - The cre-
ation of a new cruise port may
not be realised anytime soon,
according to Minister of
Works and Transport Neko
Grant who revealed that a
major cruise line is reluctant
to partner with the govern-
ment because of the “unpleas-
ant” visitor experience in
Grand Bahama.

Of the 37 ports visited in
the region Grand Bahama is
ranked last based on surveys
taken by a major cruise line,
Mr Grant said.

“The cruise port, I can say
that it appears that it is not
going to be a reality anytime

soon,” he said in Grand
Bahama on Wednesday.

“We had hoped to partner
with one of the major cruise
lines in the creation of a port,
regrettably they have
found...that (passengers) do
not have a pleasant experi-
ence in Grand Bahama.

“They suggest to us that,
based on their surveys, out of
37 ports they visit in this
region that we are 37.

“And so, it serves as a
wake up call for us to begin to
re-examine ourselves,” he
said.

Cruise lines have com-
plained in the past that
Freeport Harbour was too
industrial and too far from
major tourist attractions, lead-
ing some cruise ships to drop

Grand Bahama from its itin-
erary.

It was felt that a new port
was needed in Freeport to
attract more major cruise lines
to the island.

Land was designated by
the government in Williams
Town for a proposed $100
million cruise port and Car-
nival Cruise Line was expect-
ed to be a possible major
strategic partner with the gov-
ernment to build it.

In February 2009, Carni-
val Cruises executive Giora
Israel said the cruise line
would be happy to make
whatever investment was
needed to get the cruise port
off the ground.

Mr Israel said he had been
in talks with the government

since 1997 about his vision of
the development of a new
cruise port that would estab-
lish the island as a major new
cruise destination.

Minister Grant stressed
that residents must ensure
that visitors have a “wonder-
ful experience” when they vis-
it Grand Bahama.

“There is a need for us to
appreciate visitors when they
come here. We have to make
them feel welcomed so they
can go and tell friends of the
wonderful experience as
opposed to reports that we
are now getting back,” he
said.

The government has taken
possession of the land in
Williams Town and has post-
ed a notice on the site.



Minister Neko Grant



Intermdional lawyers arrive for thiree- -(lay conference

TOP international lawyers
are in town this week for a
three-day conference host-
ed by the Eugene Dupuch
Law School.

All of the speakers
received a complimentary
copy of the 2004 issue of the
Bahamas Handbook, which
included the story of the leg-
endary Eugene Dupuch,
QC, for whom the school is
named.

In addition, those attendi-
ing the conference received
The Bahamas Investor, the
What-to-do magazine, the
Dining Guide and the

Rurtiss Memorial Mortuary

Ghope, Ramsey, Eaumo > Tok 05-7 Dele Robinsen Ad & Sih Ebroct
Tel: 225-6621 Edo69 9 24 Hour Pogieg Scrvice 222-9761

PASTOR
VIVIAN
DEVEAUX, 92

of ‘Serden Hills #1 end
Tarmery of Stariord Grek
Andros, will b= held on
Saturday at 10:00.4.M. al
Wesley Methodist
Ghurch, Baillau Hill Roac.
Oficiating will be Ae.
William A. Higas,
Prasicgent of the
Conferanca, Rev. Kenris
Carey, Prasidant Emarita, Rav. Or Laverne Lockhart,
Traasurer, Rev. Poilin Stuobs, Assistant Secretary, Rev.
Carla Culmar, Minister of Grant's Town Methodist Church
and Rev. Aegineld Eldan, Dean ef C-LET. Interment
Ebanezer Mathodiat Church Gemetary, Shirlay Straat.

Heit surnnved & Sone: Dannis. lvyan, Kevin, Ucal and
ASP Kendal Deveuan; 4 Daughters: Cecily Colebrocue,
Liga Deveaux, Morgue Rehming ard Jaslyn Ferguson;
1 Brother Miltan Gikeon; 1 Sister: Naomi Oeveasux;
Grandsons: Roscoe, Koray, Kevin, Trevor, Kanda Jr.,
Danario, Adrian, Daivano, DeVaughn, Ucal Jr, Anthony
Jr and Deuglas Jr; Greanddughbers: Tecra, Tes, Travetbe,
Allison, Tiffany, Caphna, Reva, Shanique, Keisha, heanniss,
Cennisha, Keyshen, Ushanda anc Shabria: Great
Grandchildren: Tornoe, Cways,./osepn, Jamie, Taviors,
Angeina Jr, Rahiem, Keehaun and Kaiden Sone-in-
law: Inspector David Raaming (HBP) and Doug as
Fernquson; Gaughtars-in-law: Ella, Gladys. Pretisha,
Carolyn and Ohanse Deveaux and Franchester Boars:
Sisbers-in-law: Ray. Geris Tinker, Mildred ‘Wilcox and
Aeesiga Thompson; Broathers-in-lenarn Ezra arid Serial
Bailou; Wiacas: Malroge, Davina, Ministar Brande Mixer,
Joen Saunders, Eunika Aclle, Janet. Patsy, Bettyanne
and Launeance Gibson, Bary Allan, Gada Johnson, Alma
Williams, Rosemary, Evahm, Patrice, Dornell and Vitency
Riley, Sharon Wilcox, Carmel Baillou, Margaret anc Pegoy
Bauld; Nephenwess inistar Johnnie Aoland, Mark and
Philia Ache, Quan and Linkwarn Gibson, Marvin Fowler,
Larry Johnson, Elvis and Patrick Alley, Rufus Allan;
Caovesine: Rev. Keriris Gerey, Laverty, Bonnie and Hart.
Earl Davauax, Gonstanes and Laonna Munnings, Audrey
Deveuax, Deveral Ferguson, Meryl, Elva, Arnold and
Shervin Brown, Era Thurston and Ceci yn Bain;
Godchildren Hatais Barton anc Gertrude Write; Other
relatives and tiands including Ead acd Linda Pinder,
Pastor Jonathon and Kirk Rolla, Mir. and Mrs. Andre
Carville, Rose and Maxwall Roberts, White Family,
Woodside Farnily, Murse Pandora Roberts, Aa Hudson,
Zebra Saunders, Marjoria Bauld, Merlyn Devsuae, Thelrrie.
Newton, Sabrina Woodside. Barbara MckKanzia, Anthony
Bodie, Ann Lightbaurna. The Focal Group ot The
Methodist Churches, Vieskey Methodist Church of Stafford
Cragk, Andrea, Grants Town Wealey Methodia: Ghursh
Family, Examingtan and Sesessment Division of the
Ministry of Education, BTC Gall Gente, Gable Bahamas,
StaF of Male “Wedical 7 anc Male Surgical 1. Communities
of Stafford Creek, Blanket Sound and tha antira NMerth
and Gantral Andros.

Tne Socy will repose at Kurtiss Memorial Mortuary,
Robinson Road ard Fifth Strat on Friday from 11:00
ALM. util @:00 FR. amd at tha church on Saturday fran
9:00 4M. until service tre.



Bahamas Trailblazer maps.
The Welcome Bahamas
books are circulated in the
hotels.

Amongst the 40 panellists
were distinguished jurists,
legal scholars, psychologists,
social workers and educa-
tors from the Caribbean,
Canada, the United King-
dom, the United States,
Germany, Sweden and Ser-
bia.

Among them were the
Lord Justice Matthew Thor-
pe from the Court of Appeal
of England and Wales, and
Madame Justice Nancy Flat-
ters from the Calgary Fami-
ly and Youth Court in
Alberta, Canada.

The event, held March 17-
19, was hosted by under the
theme, “The Legal and
Social Consequences of the
Disintegration and Reinte-
gration of Families.” About
200 persons attended the
conference.

Matters discussed includ-
ed marriage and divorce,
cohabitation, property dis-
tribution, mediation, pater-





PRESENTATION: Etienne Dupuch III, grand-nephew of Eugene Dupuch, QC, reviewing the publications
with Tonya Bastian Galanis, principal of the Eugene Dupuch Law School.

nity and inheritance.

Other topics on the agen-
da were transracial, inter-
country and same-sex

adoption, assisted repro-
duction and ethical issues,
child development, inter-
national child abduction,

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



Bahamian student selected for
Pricewaterhouse internship

A BAHAMIAN has
become one of the first stu-
dents of Lincoln University
selected for an internship
at Pricewaterhouse Coop-
ers.

Omar Glinton of Nassau
spoke to the university’s

student-run publication
The Lincolnian about scor-
ing such a sought after posi-
tion within one of the
world’s largest accounting
firms.

“T knew that I had to
work hard while at Price-

CARD OF THANKS

fe the tomily ot the late

Godwin Hensley Rolle

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waterhouse Coopers so that
I could make a name for
fellow Lincoln students that
will soon follow," Mr Glin-
ton told The Lincolnian.

While interning, Mr
Glinton was the only stu-
dent from a historically
black college and universi-
ty and the only one out of
75 students nationwide to
receive a $3,000 scholarship
on behalf of the company.

Mr Glinton is now near-
ing his third year as an
intern for the upcoming
summer at PwC and his
future at the company
looks bright.

"When I first came to
Lincoln I was unsure of the
potential that I had, but
Lincoln and its professors
in the business department
made my transition a
smooth and successful one.

“The business depart-
ment later prepared me for
my internship at PwC, Pro-
fessor Robert Allen
exposed me to the oppor-
tunity based on my 3.98
GPA during my sopho-
more year and ever since



OUTSTANDING: Omar Glinton
(above) become one of the first
students of Lincoln University
selected for an internship at
Pricewaterhouse Coopers.

then I haven't looked
back,” he told his student
publication.

Mr Glinton is the presi-
dent of Students in Free
Enterprise, King of 2011, a
former member of the Lin-
coln University baseball and
soccer teams, and treasurer
of the National Association
of Black Accountants.

He is also a resident
advisor for Apartment
Style Living and a volun-
teer at the Coatesville
Youth and Woman's Asso-
ciation (CYWA).

Share your ee

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.


THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 7



LOCAL NEWS

Coastal Awareness Committee to focus efforts
on the effects of climate change and overfishing

THE Coastal Awareness
Committee of the Bahamas, a
group of stakeholders from the
private and public sectors with
an interest in promoting the
sustainable development of
The Bahamas, has announced
the focus for their campaign
in 2011 - the effects that cli-
mate change and overfishing
have on our coastal environ-
ment.

“Climate change and over-
fishing are major issues affect-
ing our coastal zones in The
Bahamas,” said Earlston
McPhee, Chairman of the
Coastal Awareness Commit-
tee and Director, Sustainable
Development for the Ministry
of Tourism.

“Much of our country lies
only a few feet above sea level
and studies have found that
small island developing states
such as The Bahamas are the
most vulnerable to climate
change. A rise in sea level
threatens our coast and our
islands themselves. Another
challenge we face is overfish-
ing and it is a fact that we are
seeing localized depletion of
fish resources such as grouper,
conch and lobster near large
population centres. Our com-
mittee will focus on the effects
of climate change and over-
fishing and what we can do as
Bahamians to help combat
these issues. Our goal is to
educate the public and to offer
real solutions to people who
collectively will help us as a
developing country and as a
tourist destination. This year
we will also be visiting Cat
Island to work with partners
and local government to devel-
op programmes for coastal
awareness in their communi-
ties.”

The National Coastal



Awareness Committee has
increased the number of activ-
ities scheduled for April which
is officially National Coastal
Awareness Month in The
Bahamas. The public is invited
to participate.

The Committee will host, in
collaboration with its strategic
partners both in the public and
private sectors the following:
National Public Service
Announcement campaigns on
television and radio; a contin-
uation of harbour clean ups;
erection of banners through-
out participating islands in The
Bahamas; primary and sec-
ondary school competitions
with a submission deadline of
March 31st; field trips with
Dolphin Encounters on Blue
Lagoon Island, Dive Stuart
Cove and Blackbeard’s Cay,
have been arranged to provide
students with an opportunity
to learn about protecting the
coasts and enjoying the marine
wonders of the Bahamas.
There also will be a national T-
Shirt Day.

As this is a national initia-
tive, Beach clean-ups and oth-
er Coastal Awareness activi-
ties are planned for the islands
of Abaco, Andros, Bimini,
Eleuthera, Exuma and Cat
Island.

The 2011 Coastal Aware-
ness Committee includes
members from the following
organisations:

Ministry of Tourism,
Bahamas Environment Sci-
ence and Technology Com-
mission (BEST), Bahamas
Hotel Association, Bahamas
National Trust,

Bahamas Reef Environ-
ment Educational Foundation
(BREEF), Broadcasting Cor-
poration of The Bahamas,
College of The Bahamas,





MEETING OF THE MINDS: Members of The National Coast Awareness Committee meet to discuss activities for April which is National Coastal
Awareness Month in The Bahamas. (I-r back row) Lester Flowers, College of the Bahamas; Julian Reid, Ancilleno Davis, The Nature Conser-
vancy; Commander Patrick McNeil, Port Controller; Peter Douglas, Ministry of Tourism, Andros; and Teri Sands, Ministry of Tourism, Eleuthera.
(I-r middle row) Charlene Carey, BREEF; Doranell Swain, Ministry of Tourism, Abaco; Adrianna Hutchinson, Stuart Cove; Sharmain Deveaux,
Ministry of Tourism, Exuma; Valencia Lockhart, Ministry of Tourism; Earlston McPhee, Chairman of the National Coastal Awareness Committee
and the Minister of Tourism. (I-r front row) Janeen Bullard, Bahamas National Trust; Kelly Meister, Dolphin Encounters; T Jennifer Edwards,
Bahamas Hotel Association and Jared Dillet, Ministry of Agriculture and Marine Resources.

Department of Environmen-
tal Health Services, Depart-
ment of Marine Resources,
Dive Stuart Cove, Dolphin
Encounters Ltd., The Nature
Conservancy, Ministry of
Education, Science and Tech-
nology, Port Department, The
College of The Bahamas, and
The University of The West
Indies.

“Our coastal and marine

STE RYH TIT)
celebrates Commonwealth Day




Patrick Hanna/BIS photo

PA GIBSON PRIMARY: STUDENTS and teachers of PA Gibson Primary in Hatchet Bay, Eleuthera are pic-
tured sharing in Commonwealth Day activities on March 14.



PAYING A VISIT: Neko Grant, Minister of Public Works and Transport
(right), and Alvin Smith, MP for North Eleuthera, chat during a visit to
Commonwealth Day celebrations at PA Gibson Primary School in
Hatchet Bay.

‘THE students and teach-
ers of PA Gibson Primary
School in Hatchet Bay,
Eleuthera hosted their sec-
ond annual multi-cultural
fair in celebration of Com-
monwealth Day on March
14.

The fair featured seven
countries including Japan,
the Philippines, San Sal-
vador, Italy, Ireland and
China. The students partic-
ipated in dances and other
forms of entertainment to
showcase the cultures of
the various countries.

Public Works and Trans-
port Minister Neko Grant
along with Alvin Smith,
MP for North Eleuthera,
made a surprise visit to the
fair during a visit to that
settlement.

resources help shape our
nation’s character and its dis-
tinctive personality,” adds Mr
McPhee. “All beneficiaries of
the tourism industry must take
an interest and active role in
conserving our natural
resources, particularly in
growing Small Island Devel-
oping States (SIDS) like The
Bahamas. As we depend on
the tourism industry the eco-

nomic sustainability of The
Bahamas hinges on our abili-
ty to maintain the natural
beauty of these islands that
attracts millions to our shores.
We thank each of our corpo-
rate sponsors who continue to
support and contribute to this
worthwhile effort. We also ask
the public to participate in our
upcoming events as we strive
to sustain the natural beauty

of these islands for our socio-
economic welfare and that of
our guests. We are all in this
together and as our motto
states ‘If not us... Who? If not
Now...When?”

For more information on
National Coastal Awareness
month visit www.coasta-
lawareness.org or to become a
sponsor contact Earlston
McPhee at 356-6963/67/38.

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PAGE 8, FRIDAY, MARCH 18, 2011

THE TRIBUNE





Election predictions — part 1

YOUNG MAN’S VIEW

By ADRIAN GIBSON
ajbahama@hotmail.com

AS ELECTION draweth
nigh, it is anticipated that
drama will surely accompa-
ny the impending show-
down. Indeed, as
ham/turkey/dryer/washer
season rolls around once
more, I’m hopeful that a
more edified electorate will
reject political paternalism
and demand change—
demand that the substantive
societal/national issues are
addressed.

Thus far, whilst the FNM
party seems slow-footed in
announcing its slate of can-
didates, the electioneering
has clearly begun as is evi-
dent by Opposition Leader
Perry Christie and his
Deputy’s (Philip Davis) flur-
ry of Family Island trips con-
ducting what they refer to
as a listening tour.

Frankly, as the electoral
clock ticks away, there are a
few sitting Members of Par-
liament who have virtually
fallen off a cliff and have lit-
erally disappeared in their
constituencies whilst others
are visionless and/or have
adopted an attitude of enti-
tlement and intolerance.
Undoubtedly, there will be
fits of hysteria and much
whimpering following this
electoral cycle. There are
quite a number of politicians
who are said to be on the
endangered species list—
marching onward toward
the political gallows.

It is expected that the
newly-constituted Bound-
aries Commission will
redraw some constituency
boundaries using recent cen-
sus and voter registration
data to determine popula-
tion shifts and, frankly, the

A DE | A

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“It is expected that the
newly-constituted Boundaries
Commission will redraw some
constituency boundaries using
recent census and voter
registration data to determine
population shifts and, frankly,
the favourable cuts for
electoral success.”



favourable cuts for electoral
success.

Notably, the FNM must
also be concerned about its
weakening presence in
Grand Bahama which con-
tinues to suffer immense
economic woes.

That said, I’ve decided to
don my monk’s garb and
attempt to read the political
tea leaves, making prelimi-
nary electoral projections
relative to the political odds
of the purported candidates
contesting seats in the
upcoming elections. One
must be mindful that this
preliminary tally—to be lat-
er followed up—comes as
ratifications and candidate
selection is ongoing and,
moreover, boundaries have
yet to be cut.

Mano-a-mano, for Dr
Hubert Minnis (FNM) the
electoral race against oppo-
nent Jerome Gomez (PLP)
will be like running against a

cupcake. Depending on
how far Dr Minnis outruns
him at the polls—and it
seems that the gap will be
wide—Mr Gomez may need
a powerful telescope to even
see his opponent.

The doctor has been a
stellar MP and a smooth
political salesman who actu-
ally delivers. His challenger
is likely to be politically
manhandled in a horrifying
loss that will expose him—
politically—as a paper tiger.

Annihilate

PLP MP Obie Wilch-
combe will politically anni-
hilate purported FNM can-
didate Jeff Butler. Wilch-
combe, an oratorically-gifted
Parliamentarian, has been a
superb MP and is likely to
jettison Mr Butler—a gro-
cery store owner—to the
political dustbin.

PLP candidate Dr Danny

Harbourside Marine

on

East Bay Street
is having a
storewide sale,

all items

discounted 20%.

Saturday March 19"
8am — 5pm

“Stop on by and take advantage of
our best prices EVER.”





DR HUBERT MINNIS

Johnson is likely to be shell-
shocked and in denial after
being KO’d by Desmond
Bannister in the Carmichael
constituency. It is anticipat-
ed that Dr Johnson—son of
the late MP Oscar Johnson,
brother of former House
Speaker Italia Johnson and
son-in-law of the late for-
mer PM Sir Lynden Pin-
dling—will mobilize the
PLP’s campaign machin-
ery/resources in the
area. That said, Dr Johnson
is likely to have recurring
nightmares following this
election episode.

Contrary to recent spec-
ulation, Mr Bannister is set
to run in Carmichael again
although reliable sources
inform me that due to pur-
ported variations of the elec-
toral map— that would be
an attempt to cut-out strong
polling divisions to save the
politically unpopular
Charles Maynard’s seat—he
considered a run in his home
town, North Andros.

The reality is that if Mr
Bannister—a strong candi-
date—loses, for the FNM,
the domino effect would
probably afflict the entire
Southwestern area. Mr Ban-
nister’s electoral outcome
could potentially coincide
with the outcome of neigh-
bouring seats. That said, he’s
expected to at least win his
seat.

Former MP Leslie “Pot-
cake” Miller will politically
clobber incumbent Sidney
Collie in Blue Hills.

This race is set to be a car-
nivorous affair. Constituents
assert that Mr Collie has
been a resounding disap-
pointment, malignantly
neglecting his constituency
and performing abysmally.

Any expectancy of Mr
Collie winning his seat is
comparable to waiting for
VAT 19 (liquor) to turn 20!

Naturally, both parties
concede certain seats—for
e.g. Long Island (usually
FNM) and Englerston (tra-
ditionally PLP)—offering
second tier candidates who
are considered to be sacri-
ficial lambs who make up
the party’s frontline num-
bers.

That said, the race for the
Long Island/Ragged Island
yields an exploitable mis-
match as incumbent Larry
Cartwright faces off against
PLP newcomer Alex
Storr—son of businessman
Henry F Storr. Unfortu-
nately for him, in Long
Island, Mr Storr will suffer a
humiliating loss.

Branville McCartney,
depending on his political
decisions, could likely retain
his Bamboo Town seat.

As an FNM, and perhaps
even if Mr McCartney
becomes an independent, he
would be a strong and
favoured contender. How-
ever, if he joins a new party,
he will suffer a political
death.

Currently, Mr McCartney
is in a very critical position
politically, however he must
rid himself of any notion
that its normal to be “half-
pregnant”—that is, either
he’s with the FNM or he’s
not.

Will Mr McCartney’s
move happen during the
BTC debate? Were his
recent comments/actions a
precursor to what his true

LESLIE MILLER

intentions are, that is, to sep-
arate himself from the pack
and portray himself as a
man with the gumption to
stand against Prime Minister
Hubert Ingraham? Is his
decision predicated upon the
position he takes with the
BTC debate? In the wake
of the Prime Minister’s
recent remarks relative toa
snap election if all FNM
MPs do not support the
BTC sale in Parliament, is
the ground now loosening
under Mr McCartney?

I’ve been informed that
the Clifton constituency will
no longer exist. Moreover,
as a result of this con-
stituency being eliminated,
I’m told that incumbent MP
Kendal Wright will be
offered a nomination to con-
test the Golden Gates seat.
I’m told that because Mr
Wright was raised in the
Sunshine Park area of the
constituency, he should be
a “natural fit” to challenge
incumbent MP Shane Gib-
son. Frankly, barring any
other happenings, Wright—
who is an uninspiring can-
didate—will lose to Shane
Gibson, who is a political
powerhouse in the area and
has a diehard support base.

The MICAL constituency
is being divided into the
Inagua and Mayaguana con-
stituency and Acklins,
Crooked Island and Long
Cay, respectively.

FNM Senator Dion “The
Bruiser” Foulkes is set to
triumph over his challenger
in the new Inagua and
Mayaguana constituency.

Nomination

I was told that the likely
forerunner for the FNM
nomination in Acklins,
Crooked Island and Long
Cay was Johnley Ferguson.
However, that appears to be
a moot point now that Mr
Ferguson has signed a two
year contract as a consultant
with the Department of
Lands and Surveys. Incum-
bent Alfred Gray is likely to
put a shellacking on his
opponent.

South Andros MP
Picewell Forbes will be
wielding a big, electoral
tamarind switch for FNM
challenger and COB lectur-
er Zendal Forbes. Although
Picewell Forbers may
encounter some difficulties if
former MP Whitney Bast-
ian nominates as an inde-
pendent candidate, he’s
expected to retain the seat
with Mr Z Forbes coming a
distant third as an “also-ran”
candidate.

FNM insiders assert that
Carl Bethel has worn-out his
welcome in Sea Breeze.
However, his uncertain
political fortune is depen-
dent upon the candidate that
the PLP settles on running
against Mr Bethel.

Of late, Hope Strachan—
Bethel’s strongest chal-
lenger—has been mentioned
as a possible replacement
for Fort Charlotte MP
Alfred Sears who has
announced that he will not
seek re-election.

However, if Ms Strachan
remains in Sea Breeze, Carl
Bethel will suffer a shel-
lacking.

In 2007, Ms Strachan lost
by 60-plus votes after cam-
paigning in the constituency



BRANVILLE MCCARTNEY

for a mere six weeks.

Mr Bethel appears out of
touch with the electorate
and, unfortunately, has a
massive risk factor concern-
ing his candidacy—that is,
the perception that he’s
arrogant and egotistical.

Moreover, another sce-
nario discussed is the possi-
ble nomination of lawyer
Myles Laroda in Sea Breeze,
apparently the PLP’s com-
promise for snubbing him in
South Beach. Frankly, Lar-
oda would be defeated by
Bethel. The PLP’s best
chance of capturing that seat
is to leave Hope Strachan as
the nominee. No doubt, the
PLP would be smart to
smack down any inkling to
move Ms Strachan to the
other side of town.

The Fort Charlotte dis-
trict—no longer being con-
tested by PLP MP Alfred
Sears—should be a political
duel.

Sources assert that the
boundaries will extend fur-
ther into Dr Minnis’ Killar-
ney constituency to facilitate
a successful run by FNM
candidate Vincent Vander-
pool Wallace.

I’m also informed that the
recently departed former
NDP leader (now PLP) Dr
Andre Rollins is also vying
for the nod in Fort Char-
lotte. There are those who
argue that Dr Rollins—a
political journeyman—lacks
the political capital to win a
contest. The race for Fort
Charlotte could go either
way.

Brent Symonette will
retain the St Annes seat. Mr
Symonette, who won nearly
64 per cent of the votes cast
in his constituency in the last
general election, will handi-
ly dispatch any challengers
(said to be Billy Nottage or
another applicant).

Loretta Butler-Turner
will banish her challenger to
the political wilderness and
roar down victory lane in the
Montagu constituency.

Mrs Butler-Turner won by
a margin of more than 68
per cent of the total votes
cast in her constituency dur-
ing the last general elec-
tion—the largest margin that
year.

FNM nominee for St
Cecilia Karen Shepherd—
the former president of the
Women’s Association—will
be a victim of circumstance.
In a traditionally PLP
stronghold, Ms Shepherd is
a rookie politician whose
candidacy reminds me of a
wilting candle.

I’m informed that Ms
Shepherd requested to run
in St Cecilia since her father
James Shepherd—a mem-
ber of the Dissident Eight—
once represented the area.

However, from the looks
of things, Ms Shepherd
could perhaps begin writing
her biography, with it per-
haps reading “I also ran in
St Cecilia, etcetera” and
being filled out during her
lifetime.

Glenys Hanna-Martin has
a strong political wind at her
back in the Englerston con-
stituency. The constituency
is also a traditional PLP
stronghold.

¢ See the rest of my pre-
dictions in Part 2 of this col-
umn in tomorrow’s Tribune.
THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 9



LOCAL NEWS

Dr Andre Rollins applies to be |
PLP candidate for Fort Charlotte

FROM page one

in the House of Assembly.

The area’s current Mem-
ber of Parliament, attorney
Alfred Sears, has formally
announced that he will not

has met with Mr Sears who
has informed him that he
will not be endorsing any
candidate ahead of the
Branch independently
deciding who they would
like to represent them

hopes and dreams and aspi-
rations of the Bahamian
people.

“And I don’t take that
lightly.

“I don’t intend to focus
or harp on the past of what

one party did or didn’t do. I
want to see this country
move forward and on the
constituency level I will
focus on building the
strongest constituency I can
build,” he said.

contest the seat in the 2012
general election — leaving
it open for other would-be
candidates to declare them-
selves.

As the newest political
front-runner in the party,
Dr Rollins said that his
application would first have
to be accepted by the area’s
branch before it could be
forwarded to the party’s
Candidates Committee for
further consideration.

As the former leader of
the National Development
Party, Dr Rollins stressed
that his decision to join the
PLP came with “no pre-
conditions or offers” of any
kind. He stressed that at no



DR ANDRE ROLLINS

time was any seat promised
him or offered.

“T joined the PLP with no
preconditions.

“T believe the party has
been very fair to me,” he
said.

Dr Rollins said that he

going forward.

“Mr Sears leaves behind
some very big shoes to fill.
It would be an awesome
opportunity and I am very
leased again with the whole
opportunity to continue to
meet with the people in the
area and we will where the
process leads.”

At this time, Dr Rollins
said that he is busying him-
self by meeting and getting
to know people in the Fort
Charlotte area.

“T think this next cam-
paign is really going to be
focused on the future and
be an issued based cam-
paign and we really need
to try and appeal to the

CALL FOR RELIGIOUS ‘COVER’ AT PRAYER
VIGILS AHEAD OF BTC DEMONSTRATION

FROM page one

the Pindling administration Dr Elwood Donaldson.

Trade union leaders and former BTC CEO Leon Williams
attended the public forum.

The group plans to hold prayer meetings in Rawson Square
tomorrow and Saturday night. When Parliament meets Monday
morning to debate the controversial sale of BTC to Cable &
Wireless Communications the group along with others critics of
the deal are expected to protest outside the House of Assem-
bly.

URCA SET TO INVESTIGATE STEVE MCKINNEY SHOW

PLPs blast PM’s ‘personal attack’

FROM page one

for the Bahamas."

Mr Schaefer and other business owners in
the Prince Charles area have publicly
expressed concerns about roadworks being
carried out as part of the governments New
Providence Road Improvement Project, which
they claim is seriously impairing business.

Further, media reports yesterday said that on
Wednesday night the Robin Hood store, locat-
ed on Tonique Williams Darling Highway,
was raided by customs and police officers when
a significant amount of computer equipment
was confiscated.

Speaking with The Tribune in an earlier
interview Mr Schaefer said he was “shocked
and taken aback” by the Prime Minister’s
statement.

He responded: "I am profoundly saddened
by what can only be characterised as a personal
attack on myself and my family and would
prefer to assume that in the heat of the
moment Mr Ingraham simply misspoke.”

Mr Mitchell and Mr Pinder in their state-
ment allege that Mr Ingraham is going “against
what he preaches” in using threatening
remarks against a permanent resident and for-
eign investor which he previously claimed his
government would never do.

It said: "It certainly appears that opponents
of the government can face the wrath of the
Prime Minister if they dare criticise the work of
his administration.”

Calling for Mr Ingraham to withdraw his
statement the opposition also encouraged the
Prime Minister to “disassociate himself from
this behaviour and give a full, frank and truth-
ful explanation to the public.”

FROM page one

you that URCA is carrying out
an investigation to determine
whether Bartlett-McWeeney
Communications Limited as
operation a radio broadcasting
station, namely Gems 105.9 FM
(GEMS), has contravened any
of the provisions of Clause 12 of
the Interim Code of Practice
for Broadcasting Content
(Interim Content Code).

“In order to carry out this
investigation, URCA hereby
requires Bartlett-McWeeney
Communications Limited to
permit URCA, pursuant to
Clause 11 (4) of the Interim
Content Code, to inspect the
original recording of the entire-
ty of programmes hosted by Mr
Steve McKinney and as broad-
cast on GEMS on February 24,

March 9 and 10, 2011. GEMS is
also hereby notified that such
recordings may be required by
URCA.”

The notice said Vincent Wal-
lace- Whitfield will be conduct-
ing the investigation on behalf
of URCA, and would visit
GEMS yesterday.

The statement, signed by
URCA director of policy and
regulation Kathleen Riviere-
Smith, said: “URCA looks for-
ward to the usual co-operation
from Bartlett-McWeeney Com-
munications Limited/Gems
105.9 Radio Station in all mat-
ters of mutual interest.”

Mr McKinney, and repre-
sentatives from Bartlett-
McSweeny Communications
Limited, the parent company
of Gems Radio 105.9FM, could
not be reached for comment up
to press time.



Customs raid on Robin Hood ‘had
nothing to do with PM comments’

FROM page one

been quietly carrying out for
the past month and a half. He
said Customs was dissatisfied
with documentation that it
had been given by store own-
er Sandy Schaefer over a peri-
od of time.

“We were doing our inves-
tigation quietly,” said Mr
Gomez, “that is why we went
to the store at closing time.
We had no intention of mak-
ing any decision or statement
until we had satisfied our-
selves of our facts. It was not
until this morning (Thursday)
when a reporter called to ask
me whether the raid was the
result of what the Prime Min-
ister had said that I even
knew that he had said any-

thing.”

Mr Gomez said that over a
period of time Customs had
dealt with at least seven
Robin Hood shipments in
which all goods being import-
ed were either not declared
or the documents were unsat-
isfactory. It was suggested
that invoices might have been
tampered with.

Unable to get what they
considered satisfactory
answers from Mr Schaefer,
Customs officers had on an
earlier visit taken computers
from the store for investiga-
tion, he said. It was decided
that a more in-depth investi-
gation had to be made into
the store’s computer system.
Acting on information they
had received, a Freeport Cus-
toms officer confiscated a lap

top from a person of interest,
which led them to the com-
puter’s main server at the
Harrold Road office. It was
that server that was among
items taken in Wednesday
night’s raid.

Mr Gomez said that in the
next few days this documen-
tation will be carefully studied
before any decision can be
made.

He wanted to emphasise
that there was absolutely no
connection between what the
Prime Minister had said ear-
lier that day and the Customs-
police visit to the store that
night. “It was purely coinci-
dental,” Mr Gomez said.

e SEE BUSINESS
FOR MR SCHAEFER’S
COMMENTS

FNMs ‘not expected’ to
break ranks over BTC

PETER NYGARD
ISSUES CEASE
AND DESIST LETTER

FROM page one

plaint against the Lyford
Cay Property Owners
Association with the
Commissioner of Police.

Up to press time,
Marvin Dames, deputy
commissioner, said that
the organisation was
not in receipt of such a
complaint.

In a press statement,
Keod Smith of Com-
mercial Law Advocates
said that the actions of
the hired security were
the latest in an ongoing
“conspiracy” against
the Canadian expat’s
reputation. It was stat-
ed that Mr Nygard, his
staff, and professional
associates, now feared
for their safety.

Mr Smith said: “This
campaign against Mr
Nygard has now risen
to the point where
employees of Mr
Nygard are being
approached with offers
of financial induce-
ments to make false
criminal allegations
against Mr Nygard.”

Mr Smith added:
“We believe that this is
being done so as to
convince at least one
Cabinet Minister of the
Government to make
an unfair drastic rec-
ommendation against
Mr Nygard’s status in
the Bahamas.”

Mr Smith said that
the International Fash-
ion House businessman
had been a law-abiding
citizen in the Bahamas
for more than 30 years.
He said he was a man
who contributed gener-
ously to national sport-
ing, cultural, and edu-
cational activities.

PERFORMANCE,
lel Aeersua=

FROM page one

Still, some FNM Parliamentary caucus mem-
bers are unsure how Bamboo Town MP Branville
McCartney — who has publicly stated his indeci-
sion over the sale — will vote.

"There are no FNM Parliamentarians who will
vote against the BTC sale with the exception of
Branville McCartney, our caucus is 100 per cent in
agreement for the sale with that one exception.

"He has not indicated that he will vote against
it, he has not said that to any one within the Par-
liamentary group, but he has said that he has to
make up his mind so I guess we will have to wait
and see," said a Parliamentarian who did not
want to be named.

Members of the House of Assembly are expect-
ed to debate the controversial $210 million sale of
BTC to London-based telecommunications
provider Cable & Wireless Communications on
Monday.

A vote in Parliament is the last step before the
sale can be finalised. Prime Minister Hubert Ingra-
ham this week said if his government loses the
vote in Parliament he will see it as a vote of no
confidence and call an early election. There are 24
FNM MPs in the House to the PLP’s 17 and if Mr
McCartney votes against the bill only three more
FNMs are needed to break ranks along with him
for the government to lose the vote.

FNM Chairman Carl Bethel said the prime
minister's words do not mean there is brewing dis-
sent within the ranks of the governing party.

"T have no information that any FNM MP

plans to vote against the sale, people may specu-
late but no one has indicated to me anything to
the contrary. I don't regard that as my duty to
seek to hustle MPs or lobby them (because) at the
end of the day all Parliamentary members of the
Free National Movement are aware of their duties
to the country and the party," said FNM Chair-
man Carl Bethel yesterday.

Mr Bethel added that at the party's most recent
caucus meeting, all Parliamentarians — Mr
McCartney was not present — were supportive of
the government's agenda.

Meantime, the FNM insider added that while
Mr McCartney has said he had to canvass his
voters for feedback before deciding how he will
vote on the BTC deal, the former state immigra-
tion minister will most likely vote with the party
to retain his constituency.

"I think Branville wants to run (in the next
election) as an FNM candidate. In my view he
cannot win Bambo Town unless he is an FNM.
Bamboo Town is an FNM constituency and has
been for several decades. The FNM branch (of
Bamboo Town) is strongly supportive of the
prime minister and the sale of BTC, (Mr McCart-
ney's) chairman and his council representative
announced that they are supporting (the sale)."

Earlier this week, the prime minister explained
that in his party's Manifesto of 2007, the FNM list-
ed the privatisation of BTC as one of its election
commitments.

With every FNM Member of Parliament having
run and won on this Manifesto, Mr Ingraham
said that they have likewise adopted and com-
mitted themselves to that policy.

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THE TRIBUNE

Uu



Ne

FRIDAY, MARCH

TO. 3

FAMILY GUARDIAN

INSURANCE COMPANY LIMITED



Colina suffers
$675k net loss
over Walk-In,
hank interests

By NEIL HARTNELL

Colina Holdings
(Bahamas), the BISX-list-
ed insurance holding com-
pany, suffered a collective
$674,649 net loss on its
investments in two associ-
ate companies, Walk-In
Holdings and the merged
Ansbacher/Sentinel Bank,
its year-end 2010 accounts
have revealed.

The figures show the
life/health insurer sus-
tained a $260,297 net loss
as a result of its 30 per cent
stake in Walk-In Holdings,
the private company that
operates and owns the
three Walk-In Clinics of
the same name, an interest
it acquired for $3.403 mil-
lion in November 2007.

SEE page 5B

Bahamas has ‘one
of best implement
plans for the EPA’

* Minister ‘very comfortable’
with nation’s progress in
meeting trade deal
obligations

* Export duties ‘non-issue’
as already stopped levying
them

* Laws must be changed to
reflect on-ground reality



ZHIVARGO LAING

By NEIL HARTNELL

A government minister
yesterday said he was
“very comfortable” with
where the Bahamas was in
fulfilling its Economic
Partnership Agreement
(EPA) obligations, telling
Tribune Business that a

had praised this nation for
having “one of the clearest
and most complete imple-
mentation plans”.
Zhivargo Laing, minister
of state for finance, told
this newspaper that com-
ments by an official of
CARICOM’s EPA Imple-
mentation Unit, suggesting
that the Bahamas was in
danger of being unable to
maximise potential bene-
fits from the trade agree-
ment with the European
Union (EU) because it did
not have an implementa-
tion plan, must have come

what we are doing”.
Referring to a conversa-

SEE page 5B

SECTION B « business@tribunemedia.net

5-15% transport
Savings strategy

Tribune Business Editor ;

Bahamian logistics provider signs contract with local importer designed

to reduce $1.2m US ground transport bill by 22% or $260k per year

: By ALISON LOWE
? Business Reporter
: alowe@tribunemedia.net

Average savings of between

? 5 to 15 per cent for Bahamian
? companies on US ground trans-
: portation costs were touted at a
? seminar hosted bya Bahamian
: logistics company, which yes-
? terday said it will soon be help-
i ing one major Bahamian
? importer to save over $260,000
? a year.

Express cargo and courier

? provider, New Level Logistics
? held a seminar at the British
: Colonial Hilton in downtown
? Nassau where it introduced
? around 25 Bahamian business
? representatives to its “third par-

For the 12 months to end- ; ty logistics” partners based in

December 2010, Walk-In : the US, which it says will in
Holdings generated $5.564 :
million in revenues, an }
increase upon the previous :
year’s $4.587 million. How- }
ever, the company suffered :
a more than $1.4 million :

? many cases enable Bahamas

businesses to significantly cut
their shipping costs to this

nation. The offer of access to
online software called a ‘Trans-
port Management System’,
which offers companies trans-
parency in the shipping process,
where they can maintain sight
of their goods, met with
approval from many Bahami-
an importers, who lamented the
damage and frustration suffered
when goods get delayed with-
out warning.

Henry Johns, who runs New
Level Logistics with his wife,
Marilyn Johns-Smith, told Tri-
bune Business in a previous
interview that Bahamian com-
panies are collectively losing
"millions of dollars" per year
through inflated transportation
costs they do not have to pay,
something that also results in
them paying more import
duties/Stamp Tax to Customs
than they need to.

The 20-year transportation

ROBIN HOOD CHIEF: |
MAY LEAVE BAHAMAS

By NEIL HARTNELL
? Tribune Business Editor

Robin Hood’s president yes-

? terday suggested he and his
: family may have to leave the
? Bahamas, joining his attorney
? in telling Tribune Business
? there was “clearly” an organ-
? ised conspiracy to drive the
? retailer out of business. He also
: challenged this newspaper to
? “find someone with a better
? record than me” when it came
? to making due Customs pay-
? ments.

Speaking to this newspaper

: after Wednesday night’s joint
? Customs/Police raid on Robin
? Hood’s Tonique Williams-Dar-
? ling Highway headquarters, in
¢ which the retailer’s main server
? was confiscated and taken away
: for inspection, Mr Schaefer said
? he was “proud” to have made
i enemies in the Bahamian
? food/retail wholesale industry
i through aggressive strategies
? that forced competitors to low-
i er prices and margins.

“When you’re an agent of

? change you’re bound to make
? enemies, and I can say I’m very
: proud of the enemies I’ve
? made,” Mr Schaefer told Tri-
: bune Business, emphasising
? that he was not referring to
? Prime Minister Hubert Ingra-
Tribune Business Editor i se ee ey meee
? ly” a conspiracy afoot to drive
? him out of business, Mr Schae-
? fer said Robin Hood had been
? able to access another server
? to get its Point of Sale (PoS)
: equipment operational, open-
? ing both its Tonique Williams-
? Darling Highway and Prince
: Charles Drive stores at 9am
: yesterday, an hour later than

leading CARICOM official }

? normal.

Adding that there was “‘clear-

Without help from Robin

? Hood’s external technology
? consultants, Mr Schaefer said
? the two stores would have been
: closed and 300 employees sent
? home.

He added: “When people go

? on a witch hunt, they will look
? for the things they want to find.
: They will find in things the
: truth they are looking for,
? which is not the truth at all.
? There are a lot of things that
? are manipulated.

“The reality is that ’ve been

? scrutinised by them [Customs]
? since I started, so I’ve been
? scrutinised by them for 11
? years. In scrutinising thousands
2 ? of containers, have there been
from someone “unaware of ; mistakes? Yes, they’ve found
? them sometimes, that I’ve over-
? paid or underpaid in good faith.
tion he had with the Unit’s }
: you look at the percentage of

“But, at the end of the day, if

SEE page 4B

* ‘Defies’ anyone to find
another business with
better record of due
Customs payments

* Says ‘clearly’ organised
conspiracy to drive him
out of business, and
‘proud of enemies made’
with exception of PM

FAMILY GUARDIAN

industry veteran, who is the
sales and operations manager
for New Level Logistics, said
Bahamian companies were
incurring losses through not
having their own discount
freight programme in the US.
Instead, they are vulnerable to
a practice called “pre-pay and
add”.

Some US shippers employed
by Bahamian companies offer
to prepay the freight costs to
get their already-ordered prod-
ucts from, say, California, to
Florida.

These shipping companies
will use their own discount
freight programmes to truck the
goods from California but, in
some cases, the shipper would
place the non-discounted
freight rate on the bill for the
Bahamian company. The com-

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. 7



BISX-listed firm

adds $2m debt
for expansion

* Consolidated Water expecting government to

reduce Water & Sewerage Corporation’s $6.2m
debt to it to balance of ‘90 days outstanding’
* 67% Blue Hills expansion to start producing

water by October

* Firm gains from energy pass through in 2010
Q4, with maintenance boost expected in 2011

By NEIL HARTNELL
Tribune Business Editor

BISX-listed Consolidated Water yesterday said it expect-
ed to take on an extra $2 million in debt to finance the 67 per
cent capacity expansion of its Blue Hills reverse osmosis
plant, amid expectations the Water & Sewerage Corporation
will reduce the $6.2 million owed to it to a balance of “90

days outstanding”.

Unveiling the company’s financial results for the year to
end-2010, Rick McTaggart, Consolidated Water’s chief
executive, said the new section at the Blue Hills plant,
whose capacity will grow from 7.2 million gallons per day to
12 million gallons per day, would begin tO produce water in
October 2011, immediately following construction comple-

tion.

SEE page 2B



COLINA ENJOYING 5.27% PROFIT RISE

By NEIL HARTNELL
Tribune Business Editor

Colina Holdings (Bahamas)
saw its net income grow by 5.2
per cent for the year to end-
December 2010 to $14.1 mil-
lion, building on the 64.5 per
cent growth seen the previous
year as shareholder equity hit
$115.5 million.

Unveiling results that showed
an increase in income available
to common shareholders to
$11.3 million or $0.46 per share,
Terry Hilts, the company’s
chairman, said: “As is expected
in our industry, and as a result
of the nature of our business,
profitability will fluctuate
throughout the year. We are
pleased, however, that overall,

>

INSURANCE COMPANY ~~

call us today at (242) 396-1300

our profit for the year has con-
tinued on an upward trend.
Comprehensive income, which
takes into consideration other
gains affecting equity, has
notably increased from $11.7
million in 2009 to $14.4 million
in 2010”.

Operating expenses
increased by $3.5 million to
$29.9 million year-over-year,
reflecting an increase in staff
benefits and operational invest-
ments to enhance policyholder
service. Total revenues grew to
$152.6 million, an increase of
5.5 per cent over prior 2009.

Colina Holdings (Bahamas)
said gross profit margins in both

SEE page 3B

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PAGE 2B, FRIDAY, MARCH 18, 2011

THE TRIBUNE





Private sector must

rive the recovery

BY SIMON COOPER
RES SOCIUS

Central Bank report

released on Friday, March

11, confirms that our domes-

tic markets continued on

their recovery path in January. This was

aided by improving circumstances prevailing

in the global economy beyond our shores,

and some local initiatives, too. The better

news reported for our islands included mod-

erate growth in our tourism sector, and a
stable rate of new building construction.

Other noteworthy remarks made by the
nation’s bank included the fact that the fis-
cal deficit remained a matter of concern
(the uptick is not yet broadly based), and
news of a welcome cash injection in the
form of Stamp Tax associated with the sale
of the Bahamas Oil Refining Company
(BORCO).

Looking back to 2010, the Central Bank
again noted an increase in overall tourism,
partly on the back of a US recovery, but
also partly thanks to several public-private
sector initiatives. At least some Bahamians
can claim credit for their own initiative in
helping encourage a healthy growth in
stopover arrivals by air or sea.

Deficit

As mentioned, our nation’s deficit
widened by 22 per cent or $38.9 million in
the first six months of the 2010-2011 fiscal
year. This means that we continued over-
spending despite all the austerity measures
introduced. As a nation we are still not cut-
ting our clothes according to our cloth, and
we may have to pay heavily for this indis-
cretion in due time.

The modest increase in consumer lend-
ing that the Central Bank reported was
mainly attributed to debt consolidation and
increased use of credit cards. On the upside,
net repayments for land purchases, home



SIMON

improvements and miscellaneous purposes
were well balanced. This means that the
wheels of our economy are turning, not
falling off as some would claim.

The Central Bank continues to anticipate

and with that more good news for all.

What does this mean to me as a Bahami- }

an resident and businessperson? What role | 0f Consolidated Water’s 15

should I play in helping to turn the tide, ; Plants in the Caribbean by 21

and how should I capitalise from this in : Pet cent said: “The plant was

business, too? I believe that what we need : 7. ;

; She ae ? this year, and with the expan-
are more private sector initiatives, and few- }
aees ae out for ea assistance, i an extension of the water
wherever this is possible. This does not mean } cajes agreement to 2031.
that we have to wait for others to come and
build our Bahamas either. Small contribu- :

tions are equally important, and I know of }

many businesses already preparing for more
recovery towards the end of what will be a
better year.

NB: Res Socius was founded by Simon
Cooper in 2009, and is a Business Brokerage :
authorised by the Bahamas Investment :
Authority. He has extensive private and :
public SME experience, and was formerly ;
chief executive of a publicly traded invest- :
ment company. He was awarded an MBA} Water & Sewerage Corpora-
with distinction by Liverpool University in ; 70"

? to it would soon be largely

2005. Contact him on 636-8831 or write to settled mide tie Goyene

simon.cooper@ressocius.com.

JOB 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.

Main Duti R

nsibilities:

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
inability to meet customers’ 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.

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, Bahamas

OR

E-mail:

humanresources@danbradlitd.com

FROM page 1B

Mr McTaggart said Con-
solidated Water also earned
a “small gain” from energy
pass-through charges in its
Bahamian operations during
the 2010 fourth quarter, a
sharp contrast to previous
years, when the BISX-listed
company had incurred extra
fee costs as a result of energy
inefficiencies in its operations.

And he added that new

: diesel engine maintenance
i programmes being imple-
? mented at the Blue Hills and
: Windsor plant during 2011
} should “yield benefits” for the
? company’s Bahamian opera-
i tions this year.

Analysing the implications

i of the January 2011 contract
? award from the Water & Sew-
? erage Corporation, David
? Sasnett, Consolidated Water’s
i chief financial officer, told a
? conference call with Wall
i Street analysts: “With the
: recent expansion of the Blue
: Hills plant in the Bahamas,
? we would estimate incurring
growing momentum in the domestic econo- :
my, thanks largely to our strengthening }
tourism sector and associated construction
projects. Consequently, employment }

prospects are expected to improve as well, : ; ;
: would by itself increase the

$2 million in incremental debt
to fund construction of this
project.”

Mr McTaggart, noting that
the Blue Hills expansion

combined water production

commissioned in January of
sion of capacity we received
“We are proceeding rapid-

ly to meet a very tough con-
struction deadline, and expect

: to begin producing water
: from the expanded section
; this October.”

In its 10-K annual report,
filed yesterday with the US
Securities & Exchange Com-
mission (SEC) to fulfill its
obligations as a Nasdaq-list-
ed stock, Consolidated Water
expressed hope that the

tion’s outstanding debts owed

BISX-listed firm adds
$2m debt for expansion

ment’s mid-year Budget
announcement that some $8.8
million in taxpayer funds was
being reallocated for such a
purpose.

“As of December 31, 2010,
Consolidated Water-Bahamas
was due approximately $6.2
million from the Water &
Sewerage Corporation,” Con-
solidated Water said.

“We have been informed
previously by representatives
of the Bahamas government
that the delay in paying our
accounts receivables is due to
operating issues within the
Water & Sewerage Corpora-
tion, that the delay does not
reflect any type of dispute
with us with respect to the
amounts owed, and that the
amounts will ultimately be
paid in full.

Payment

“Based on our January
2011 meeting with officials of
the Bahamas government, we
believe the Bahamas govern-
ment will make a payment in
the near future to reduce
Consolidated Water-
Bahamas’ receivable balances
to approximately 90 days out-
standing.”

It appears that the delin-
quent accounts receivable
owed by the Water & Sewer-
age Corporation have held up
Consolidated Water’s efforts
to obtain performance bonds
for its Blue Hills and Windsor
plants.

“On August 1, 2009, a per-
formance bond with the Roy-
al Bank of Canada in Nassau,
Bahamas, in the amount of
$1.911 million for the Windsor
plant expired and was not
subsequently replaced. We
expect to obtain performance
bonds for the Windsor and
Blue Hill plants once Consol-
idated Water-Bahamas has
received payment of its delin-

NOTICE

quent accounts receivable
from the Water & Sewerage
Corporation,” the report to
the SEC said.

With regard to the Blue
Hills expansion, Consolidat-
ed Water’s 10-K report said:
“Under the terms of the
amended agreement we are
required to increase the pro-
duction capacity of the Blue
Hills plant to 12 million US
gallons per day on or before
September 30, 2011.

“After the expansion is
completed, we will be
required to deliver, and the
Water & Sewerage Corpora-
tion will be required to pur-
chase, a minimum of 52.5 mil-
lion US gallons per week. The
term of the water supply
agreement will be extended
at the date that the expansion
is completed for a period of
20 years, or until the plant has
delivered approximately 66.9
billion US gallons of water,
whichever occurs later.”

Meanwhile, looking back
on 2010, Mr McTaggart told
Wall Street analysts yester-
day: “In our Bahamas opera-
tions we continue to benefit
from reduced energy costs
resulting from improved oper-
ational performance. We
received a small gain from
energy pass through charges
in the fourth quarter, in con-
trast to the charges we’ve
incurred in the past.

“We will implement further
diesel engine maintenance
programmes that we believe
will significantly reduce
mechanical breakdowns and
maintenance costs. We are
very optimistic this will yield
benefits for the Bahamas
operations this year.”

Consolidated Water said it
supplied three billion gallons
of water to the Water & Sew-
erage Corporation in 2010
from its Blue Hills and Wind-
sor plants, down slightly from
3.1 billion in 2009.

SIR LYNDEN PINDLING ESTATES
FORMERLY PINEWOOD GARDENS

Il SUBDIVISION

This Notice serves to advise the general public that lots
within the following blocks purportedly sold as lots within
“Nassau Village” form a part of the Sir Lynden Pindling
Estates Subdivision (formerly Cedar Groves/Pinewood
Gardens II) and are the property of Arawak Homes

Limited.

These Blocks are:

52,54,55,56,57,58,59,60,61,62,63,64,65,66,67,68,69,70,71,
72,73,74,75,76,77,78,79,80,81,82,83,84,85,86,87,88,89,90,91,
92,93,94,95,96,98,99,100,101,102,103,104,105,106,107,108,
109,110,111,112,113,114,115,116,117,118,119,120,121,122,
123,124,125,126,145,146,147,148,149,150,151,152,153,154

The general public 1s further advised to beware of purchasing
any lots in the above Blocks unless the land is described as
being in the Sir Lynden Pindling Estates Subdivision and
is being purchased from Arawak Homes limited or from
a person or entity which purchased from Arawak Homes
Limited. Otherwise, the seller(s) are not the owners of the
land.

If you have purportedly purchased any lot(s) within the
above-mentioned blocks, you are advised to immediately
seek proper and independent legal advice from a
reputable law firm or attorney.

Should you have any questions, please contact:

GENERAL LEGAL COUNSEL
ARAWAK HOMES LIMITED

P.O. BOX N 3180

NASSAU, BAHAMAS

PHONE: (242) 394-0014/5; 502-6500


THE TRIBUNE FRIDAY, MARCH 18, 2011, PAGE 3B

Union eyes further BIC legal actions



By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

The Bahamas Communications and Public
Officers Union (BCPOU) believes it has “solid
grounds” for further legal action to impede the
Bahamas Teleccommunications Company’s
(BTC) sale to Cable and Wireless Communica-
tions (CWC), should the Court of Appeal not
allow its appeal against an earlier Supreme Court
ruling that threw out the union’s attempt to stop
the transaction.

In the meantime, Bernard Evans, BCPOU
president, said the union has been turning down
requests from CWC to meet with the company to
discuss the way forward for BTC. “We don’t
need to talk to them yet,” he said.

Mr Evans yesterday addressed the Rotary
Club of West Nassau on the topic of BTC’s
impending sale to CWC, which the union he
heads has led opposition against.

He reiterated previous statements that the
BCPOU is not against “privatisation and liber-
alisation” of BTC and the telecoms sector in the
Bahamas, but that believes privatisation of BTC
should see it sold to Bahamian buyers.

He said the union does not have a “personal
vendetta” against CWC, but has obtained infor-
mation from labour counterparts elsewhere con-
cerning its dealings with unions, declines in busi-
ness in the face of competition from other tele-
coms providers in Caribbean jurisdictions where
it also operates, and the “high turnover of exec-
utives”.

Ultimately, when pressed about what arrange-
ment he would accept, Mr Evans said he does not
believe BTC would be better off with any “major
or minor” partner other than a Bahamian one.

Admitting “there is merit” to the argument
that if a foreign competitor was to enter the
Bahamas in a liberalised telecoms environment,
BTC would not be adequately prepared to with-
stand the competition without a foreign partner
with the “purchasing power, research and devel-
opment capacity and technical know-how”, Mr
Evans said this holds no water for him as an
argument for bringing in a foreign partner for
BTC.

“I can see there would be concerns about a
Bahamian company competing with a giant. But
all companies who get a license should be
Bahamian. By all means, if your intention is to
bring in a Digicel, then by all means bring in a

foreign entity to compete with Digicel if that’s the
environment you want to set up. But if you want
Bahamians to compete with Bahamians then
there’s no need,” he suggested.

The BCPOU is now awaiting a final verdict
from the Court of Appeal on whether it will
allow the union’s appeal against Supreme Court
Justice Neville Adderley’s February ruling that
rejected the unions’ claim the Government did
not have the right to sell BTC, on the basis that
the unions did not have the legal standing to
bring the suit.

“Tf the Court of Appeal rules we do have
standing, it will also rule on the same day that we
can seek injunctive relief. That would then allow
for us to go back to the lower court for the hear-
ing to be heard, and for an injunction on the sale
of BTC to take place until we get that relief. So
that’s what we are hoping for,” said Mr Evans
yesterday.

Should this not occur, Mr Evans said the union
believes it has a good case for further legal action
to impede the sale.

“There’s something amiss with what happened
in 2002. BCPOU stands for public officers; BTC
is a private entity. How can you have a public offi-
cer work for a private entity? It’s a valid question.
That is a concern. And BaTelCo, by the way, is
not dead from a legislative standpoint. Even
though it has been stripped of its assets it is still
on record as a living entity,” Mr Evans said.
“That is whom we have our employment and
our contracts with. It is a public entity. That
makes us public officers, so there is a real, real
legal and constitutional problem there that needs
to be resolved. Maybe when it changed from a
corporation to a company there should’ve been
some separation, some notification. Maybe some
benefits that were owed to me and due to me as
a public officer then should’ve been provided, but
they were not, so here we are.”

However, the BCPOU president also stated
that if the BTC sale goes through, he will work
with CWC unless his membership, the BTC
workers, tell him otherwise.

“Tf the sale goes through it would be devas-
tating, very, very devastating. But we will have to
deal with the matter then.

“We would have to talk with them. But we’ll
see what our people tell us...if our people tell us
they can’t work for Cable and Wireless then
that’s a major, major issue.

“We'll have to comply (with the membership’s
wishes),” he added.

CONFERENCE TO BOOST BAHAMIAN BANKERS

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

A “tremendous amount of
information” of relevance to a
wide variety Bahamian profes-
sionals will be shared over four
days when the Bahamas hosts
the 19th World Conference of
Banking Institutes for the first
time, one of its organisers said
yesterday.

Coming together on the
theme of ‘Creating a progres-
sive financial services environ-
ment’, delegates from the
Bahamas and 14 other coun-
tries are meeting at the Atlantis
resort from March 20-23 to dis-
cuss issues related to financial
services and the training of pro-
fessionals within the sector.

Among those countries rep-
resented are: Korea, Botswana,
Jamaica, the UK, Scotland,
Nigeria, Hong Kong and Cana-
da

Prime Minister Hubert
Ingraham and Central Bank
Governor Wendy Craigg will
address the conference, along
with other “distinguished”
speakers from the Bahamas
and elsewhere.

“Trust, accountability, com-
petence and innovation are the
buzzwords. I feel these are
innate qualities every Bahami-
an should possess to empower
themselves,” Peggy Knowles,

deputy manager of corporate
affairs at the Securities Com-
mission of the Bahamas and the
conference’s chairman, told Tri-
bune Business. She invited “all
Bahamians” to register to
attend the event.

The Bahamas Institute of
Financial Services (BIFS) is
hosting the conference, which is
sponsored by the Royal Bank
of Canada.

BIFS provides training and
education for Bahamian pro-
fessionals and, according to
Kim Bodie, executive director
of the Institute, the ability for
Bahamians to learn from what
banking institutes elsewhere in
the world are doing to better
prepare their professionals will
be a major benefit arising from
the four day meeting.

“There will be the opportu-
nity to network with our coun-
terparts, to hear what is going
on in their jurisdictions, how
they are dealing with challenges
in their industry and what types
of new training programmes
they are introducing to keep
their employees abreast of com-
petitive markets.”

“We are very small, and
these people will be coming
from large industrialised coun-
tries, so we can all learn from
them,” said Ms Bodie.

Nathaniel Beneby, Jr., presi-
dent and country head, RBC
Bahamas, said: “This is a major

COLINA ENJOYING 5.27 PROFIT RISE

FROM page 1B

conference within the global
banking industry. By sponsor-
ing this event, we are support-
ing both the Bahamas Institute
of Financial Services and the
international delegation of
banking executives who will be
visiting the Bahamas to attend
the conference.”

Close to 200 international
and local delegates are regis-
tered for the event to date.

gS
a k ou
“yeh
Sheraton

ae

= 400) ere

The new 700 room Sheraton Nassau Beach Resort, The Bahamas is looking for

Director of Rooms

Responsible for short and long term planning and day-to-day operations of the rooms and
related areas. Recommend budget and manage expenses within approved budget constraints.
Major areas of responsibility/management include: Front Office, Guest Services, Housekeeping,
Security, Gift Shop and Health Club. May have responsibility for Recreation and Tennis.
Participate in total hotel management as a member of the hotel Executive Committee.

Essential Functions

* Manage the human resources in the rooms division in order to attract, retain and
motivate the employees. Hire, train, develop, empower, coach and counsel, conduct
performance and salary reviews, resolve problems, provide open communication
vehicles, discipline and terminate, as appropriate. Oversee departmental matters as

they relate to collective bargaining agreements and the labour laws.

* Develop, recommend, implement and manage the rooms division’s annual budget,
business/marketing plan, forecasts and objectives to meet/exceed management
expectations.

* Implement company programs and manage the operations of the division in
a manner consistent with local laws and regulations and Starwood policies and
procedures to ensure a high level of quality and customer satisfaction.

* Resolve customer complaints as appropriate to maintain a high level of customer
satisfaction and quality.

* Implement emergency organization procedures and training through the management
of the Security staff to ensure appropriate protection for hotel guests, staff and
company assets.

Skills & Abilities

* Must be able to speak, read, write and understand the primary language(s) used in
the workplace.

* Must be able to read and write to facilitate the communication process.

* Requires good communication skills, both verbal and written.

* Must possess basic computational ability.

* Most tasks are performed in a team environment with the employee acting as a team
leader. There is minimal direct supervision.

* Must possess supervisory and management skills to communicate and express ideas
and directives clearly to employees.

* Knowledge of computer accounting programs, math skills as well as budgetary
analysis capabilities required.

¢ Advanced knowledge of the principles and practices within the rooms discipline and
hospitality profession, including experiential knowledge for management of people
and complex problems.

* Ability to study, analyze and interpret complex activities and/or information in order
to improve new practices or develop new approaches.

¢ Ability to make decisions with only general policies and procedures available for
guidance.

* Must be able to negotiate, convince, sell and influence professionals and/or hotel

guests.
Qualifications & Experience
¢ High School or equivalent education required, Bachelor’s Degree preferred.

* Four to six years experience in Front Office/Housekeeping/Guest Services, including
at least four years supervisory experience, required.

Qualified applicants are invited to visit our website or email resumes at:
subrjobs@sheraton.com
Note: All information will be held in strictest of confidence

Deadline for all applicants is April 8, 2011



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the life and health divisions remained healthy, keeping pace with
the increased revenues in 2010 due largely to improved net invest-
ment returns, management of administrative costs associated with
claims, and appropriate adjustments for risk exposures.

“We evaluate and structure our investment portfolio to deliver
sustainable long-term returns based on market opportunities,”
said Mr Hilts. The company’s investment portfolio saw an increase
in net investment income to $29.5 million compared to
$27.8 million in the prior year. This increase was achieved due to
improved returns on a larger invested asset base.

Invested assets increased by $12.3 million to $421.3 million,
compared to $409 million in the prior year, and remain a significant
proportion of total assets at 80.2 per cent. About 35.2 per cent or
$148.5 million of invested assets are invested in Bahamas Gov-
ernment Registered Stock.

The balance of investments, none of which exceed 17% of the
invested asset portfolio, is invested largely in fixed deposits, listed
equities, preference shares, investment property, mortgage loans
and policy loans.

Colina Holdings (Bahamas) strengthened its total equity position
to $115.5 million, an increase of $12.2 million over the prior year.
Ordinary shareholder equity increased to $77 million, compared to
$70.3 million in 2009.

The Minimum Continuing Capital and Surplus Requirement
(MCCSR) ratio, the calculation of an insurer’s financial strength,
was 197.9 per cent at December 31, 2010. This indicator increased
from 179 per cent at the end of 2009.

“Looking ahead, we are very optimistic about the future,” said
Mr Hilts. “We have grown revenues and investment yields, and
stayed true to our disciplined focus on risk management. We will
continue to bring an intense focus to executing our growth strate-
gies, enabling us to meet the expanding financial needs of our
customers.”

Virose eM bem Rei lie§
Wee oe mee

TAYLOR INDUSTRIES

SS SS ee meer ee tT Pamala]

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etre re sae


PAGE 4B, FRIDAY, MARCH 18, 2011

THE TRIBUNE



eS INES eee
5-15% transport savings strategy

FROM page 1B

pany would only see a single
cost on the invoice for total
transportation costs, freight and
shipping, and had no way of
working out the former costs.
Marvin Switzer, chief oper-
ating officer of C2C Logistics,
New Level Logistics’ (NLL)
third party logistics carrier in
the US, explained that out of
“45 to 50” analyses conducted
of freight moving into the
Bahamas since last July, it was
discovered that the importer
could - through negotiating

agreements with carriers with
which it has relationships -
achieve an average reduction
in the cost of the ground trans-
portation involved of between 5
per cent and 15 per cent.

C2C Logistics said it needed
information from Bahamian
companies on what they are
having shipped, in what quan-
tities and from which regions
in the US. It then presents this

Sheraton
ibs

a ae

information to carriers with
whom it has relationships, and
seeks to find the most cost-
effective option for shipping the
Bahamian importer’s goods. In
some cases, the company can
negotiate a fuel rate, allowing
this often fluctuating cost to be
fixed.

C2C Logistics suggested its
history in the industry and rela-
tionships with US carriers allow

The new 700 room Sheraton Nassau Beach Resort, Nassau, The

Bahamas is looking for

Chef De Cuisine

Support and assist the Executive Chef. Oversee the day-to-day culinary operations of
the hotel’s “fine dining” room. Train and supervise staff and monitor food quality.

Essential Functions

* Select, train and supervise kitchen staff in the proper preparation of menu items, equipment

and safety measures.

« Evaluate performance, give guidance and discipline as necessary to promote quality products.

« Visually inspect, select and use only the freshest fruits, vegetables, meats, fish, fowl and other
food products of the highest standard in the preparation of all menu items.

* Read and employ math skills for following recipes.

« Prepare requisitions for supplies and food items for production in workstation.

* Observe production flow and make adjustments in order to adhere to control procedures for
cost and quality.

Skills & Abilities

« Must be able to speak, read, write and understand the primary language(s)
used in the workplace.

« Must be able to read and write to facilitate the communication process.

* Requires good communication skills, both verbal and written.

« Must possess basic computational ability.

« Must possess basic computer skills.

* Thorough knowledge of food products, standard recipes and proper
preparation.

« Ability to analyze, forecast data, and make judgments to ensure proper
payroll and production control.

« Ability to supervise large staff and accomplish goals on a timely basis.

« Ability to conduct meetings, menu briefings and maintain communication
lines between line staff and Director, Food & Beverage.

Qualifications & Experience

* High School or equivalent education required, Bachelor’s Degree preferred.

* Minimum of two years experience as a Sous Chef in a high-end, high quality
operation.

Qualified applicants are invited to visit our website or email resumes to:
snbrjobs@sheraton.com
Note: All information will be held in strictest of confidence

Deadline for all applicants is April 8, 2011

©
Pane or

The National Insurance Board
of the Commonwealth of The Bahamas



Proposal For Independent Auditors

The National Insurance Board (NIB) invites suitably qualified accounting firms co submita 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 can be accessed ar wwwnib-bahamas.com
The proposal should include, but not be limited to:
. General information on the firm and its local and/or international affiliates,

| The qualifications and experience of che principals of che firm, including comments regia ring
ather professional staff members’ skills and competence,

! i" . is . . . i = * . . = = « .
. Information on the firms audit SX PerleMce Li tinancial institucions similar in size or nature to

the NIB.

4. The approach and time-line that will be adopted for the audit and related services that che firm
can provide the NIB.

. Comments with respect to the firm’ independence.
b. Estimates of fees and billings.

Proposals should be addressed to:
The Director
THE NATIONAL INSURANCE BOARD
Clifford Darling Complex
Baillou Hill Road
Nassau, Bahamas

and marked “Proposal to Serve as Independent Auditors”, to arrive at the Director's Office no
later than 4:00 p.m, on Friday, April 29, 2011. The NIB reserves che right ro rejece any or all

tenders.



it to negotiate better shipping
arrangements and costs than
buyers would get if they sim-
ply ask their suppliers to ship
“the best way” they can.

“When you say ‘ship it the
best way’, you’ve totally lost
control of one of your biggest
expenditures - the shipping
part. The ground transporta-
tion all the way from say, the
middle of America, to Miami.
That’s where we come in,” said
Mr Switzer.

“We’ve done a number of
studies since probably July of
last year regarding the
Bahamas, and we usually find
we can create savings of
between 5 to 15 per cent
depending on what your trans-
portation spend is. Depending
on what your annual spend is,
that’s a lot of money you can
put back into your company
and your economy here in Nas-
sau.”

While the company charges a
“one-off consultancy fee” for
analysing Bahamian companies’
data to determine what savings
could be procured, later costs
would not be felt, said Mr
Switzer, as C2C Logistics would
be compensated “out of the
savings we get from the carrier,
not disturbing the client at all.”

Mr Johns said: “Because my
background is in transportation
in the US, I have found a niche
that can empower people in the
Bahamas, who may not know
what the US industry is about
and how it has been taking

advantage of the offshore and
Bahamian merchants and the
society at large.”

Mr Johns said the service
New Level Logistics is provid-
ing will not only help many
companies save money on
transport but also “give them
more options” on where they
can buy goods from.

“We have some Bahamian
companies who only buy in
Florida. They may not realise
that they have the chance now
to have options to find suppliers
elsewhere and have a trans-
portation provider. Because of
‘pre pay and add’ in the off-
shore market, Florida mer-
chants are not necessarily going
to be the lowest price in pro-
viding to you. They have to
charge money to get all their
suppliers under one roof,” Mr
Johns said.

“That transportation price
will be passed on to Bahamian
merchants, and then they will
stack or add a higher rate of
transportation in the unit price
of the goods and the merchants
won’t know the difference
unless they have their own (dis-
count freight program).”

Highlighting the cost-savings
New Level Logistics and its
partners can achieve, he said
the company was yesterday due
to sign a contract “with a large
Bahamian company” which has
annual average US ground
transportation costs of $1.2 mil-
lion.

“We have provided an analy-

sis for them, in terms of the bid
process that goes ou. This
Bahamian company had 10
companies that wanted to par-
ticipate in the bid, and so we
will be saving this company 22
per cent of their ground trans-
portation costs per year as a
result. The customer’s expec-
tation was hoping that we could
do 10 per cent. Now they are
looking to move to the consol-
idation and the ocean portion
of their costs,” said Mr Johns.

Virginia Strapp, buyer/pur-
chasing officer for the Nassau
Airport Development Compa-
ny, said she felt the seminar
“opened up our eyes to a lot of
things that goes on behind the
scenes that we are not privy to
from our suppliers”.

“T think it could lead to some
savings. They are familiar with
the suppliers, the trucking
agents and all that, so they can
deal with them better than we
can. Plus if they can alleviate
some of the issues about where
packages are, tracking and so
on, that would really help,” she
added. Seminar attendee Sheni-
cia Williams, of Common-
wealth Building Supplies, said
she was particularly keen on
the fact that New Level Logis-
tics offers a chance for clients to
track their goods.

“That’s an issue for every-
one. Sometimes you can’t track
packages. So from the point of
ordering to your consolidators,
if you know what’s up with the
cargo then you will be able to
translate a better timeframe to
customers. As it is we have to
wait until it gets to Tropical to
see when we might get it. So I
think we’ll do the analysis and
try it; that can’t hurt,” she said.

ROBIN HOOD CHIEF: | MAY LEAVE BAHAMAS

FROM page 1B

the millions and millions [in duties] I’ve paid
over the last 11 years, which I’m sure are in the
tens of millions, the fines ’ve received from them
for thousands of containers never exceeded
$10,000.

“Even if that number was ten times’ that
amount, I defy you to find someone with a better
record than that.”

Tribune Business sources close to the matter
yesterday said Robin Hood had come under par-
ticular scrutiny from Customs over the last two
months, which appears to now have been sup-
plied with information and told where to look. It
is understood that Wednesday night’s raid was
intended to secure information and evidence in
an investigation into whether the retailer has
evaded paying due taxes by supplying Customs
with invoices that under-value goods being
imported.

The Customs/police action is also likely to
delight Robin Hood’s direct competitors and the
wholesale industry, many of whom have in the
past expressed concern to Tribune Business about
how the retailer was able to sell products at prices
much lower than theirs. In some cases, its con-
sumer prices were the wholesale prices rivals
were paying.

Several informed sources have suggested that
Mr Schaefer has brought much of this on himself,
especially with his outspoken comments in the
media, where he has repeatedly tweaked the
noses of rivals and the wholesale industry in par-
ticular. When it comes to the latter, the Robin
Hood president has repeatedly said he purchas-
es 95 per cent of his produce direct from abroad,
cutting out the middleman and threatening the
wholesale-retail model in the Bahamas. His com-
ments, and operation, have been seen as a threat
to the establishment.

Tribune Business was made aware from whole-
sale sources late last year that there was a col-
lective move in the industry to effectively put
Mr Schaefer in his place, with a lobbying effort
underway to convince the Government - through
Customs and Immigration etc - to clamp down on

what they claimed were his “unorthodox” busi-
ness practices.

However, Mr Schaefer said: “Ultimately, this
is terribly sad for me. I came here with a dream,
the dream to allow the little guy to afford things
he was not able to afford. I came into the food
business three years ago, and this is not spin, but
food prices have gone down rather than up over
that time because of the pressure we’ve put on
the competition.

“People feel I’m the trespasser, I have no right
here, I’m bucking the trend, fighting the institu-
tion........ ” Referring to the Prime Minister’s
remarks about him, and his past as an Olympic
level wrestler, he added: “He’s picking on the
wrong guy.

“T’m a fighter, all my employees are fighters,
every family that depends on us are fighters. At
this point, I will do everything in my power to
make sure we serve the Bahamian community as
we have done.”

Yet Mr Schaefer also said of himself and his
family: “We’re at complete peace, but we may
have to leave the Bahamas. It would be an extra-
ordinarily bad day for us, not one we would
choose, but so be it. At the end of the day, we
would probably have to leave here with pretty
much what we came with, which is not a lot, but
we would have no problem with that.”

Mr Munroe, meanwhile, said he had written to
Customs yesterday questioning the legal basis
on which it had seized Robin Hood’s main serv-
er, plus every CPU flash drive, CD and some
accounting files from the company’s administra-
tion unit.

Questioning whether Robin Hood’s competi-
tors were treated in this manner by Customs,
Mr Munroe said he had offered, on the compa-
ny’s behalf, to allow the Department to take
copies of the records it wanted to investigate.

Describing Customs’ actions as “foolishness”,
Mr Munroe said he had also urged the Depart-
ment to return everything that had been taken,
since it would have had time to copy the data. He
added that he was seeking a reply from Customs
by end of business yesterday afternoon, but it
could not be confirmed whether this had hap-
pened.

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 Island
Bridge with effect from the Monday March 21 to Friday April 1 2011. This exercise
wil affect the Easter 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 io Friday. Work may resume after 3:30pm or
when traffic reduces, if needed, in order to ensure that work is completed on

schedule,

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

The Bridge Authority apologizes for any imconvenience caused, and assures it
Customers and Stakeholders, that all efforts will be made to have the inspection

works concluded as quickly as possible.



Billy Scavetla
General Manager
The Bnoge Authonty
THE TRIBUNE

FRIDAY, MARCH 18, 2011, PAGE 5B



err es
Bahamas has ‘one of best implement plans for the EPA

FROM page 1B

leading trade specialist,
Branford Isaacs, over these
comments, Mr Laing said:
“When he heard our imple-
mentation plan, he said to
me we had one of the clear-
est and most complementa-
tion plans he had seen/heard
of.

“We have a most compre-
hensive, extensive EPA
implementation plan we are
working on diligently. They
[the CARICOM official]
must be unaware of what we
are doing. I would have
thought they would have
taken time to come and
speak to us about what we
are doing, so they would be
aware.”

Mr Laing said the transi-
tion period that the EPA
allowed the Bahamas and
other signatories lasted for
“three years or so”, giving
them time to make the
required legislative and pol-
icy adjustments to bring
them into full compliance
with their obligations under
the agreement.

“There are legislative
amendments that have to be
made to the Customs Man-
agement Act in relation to
Rules of Origin and such
like, there’s intellectual
property legislation adjust-
ments, and competition pol-
icy,” he added.

“There are a raft of things
that have to be done. We
are proceeding with them.
We have drafted legislation
with respect to many of
these things. They have to
go through a process, but I
am very comfortable with
respect to where we are,
keeping up with compliance

Colina suffers
over Walk-In,

FROM page 1B

swing into the red, incurring
a net loss of $867,658 com-
pared to a $579,951 profit
the previous year.

As a result, Colina Hold-
ings (Bahamas) went from
earning a $173,985 profit on
its 30 per cent investment in
2009 to a $260,297 loss last
year. Still, with Walk-In
Holdings possessing total
assets and liabilities of
$8.309 million and $3.677
million respectively, giving
it net assets of $4.631 mil-
lion, the insurance holding
company’s investment in the
company is still in the black.

Holding a $1.389 million
share of Walk-In Holdings’
balance sheet, Colina Hold-
ings (Bahamas) 2010 year-
end accounts show that with
$2.233 million in goodwill
added, in the total value of
its investment is now $3.622
million - a more than
$200,000 increase on the
price paid for its 30 per cent
stake.

Meanwhile, Colina Hold-
ings (Bahamas) holds a 19
per cent stake in the merged
Ansbacher (Bahamas)/Sen-
tinel Bank & Trust through
SBL Ltd.

It acquired this by paying
a collective $8 million itself
and through its Colina
Insurance subsidiary, but
this investment still has to
pay dividends.

However, the value of
that investment has fallen to
$7.125 million, even though
the private bank cut its loss-
es in 2010 by more than 75
per cent year-over-year,
reducing them from $2.999
million in 2009 to $731,577
in 2010.

That reduced Colina
Holdings (Bahamas) losses,
through SBL Ltd, from
$569,899 to $139,000 in 2010.
With SBL having total assets
and total liabilities of
$136.853 million and
$108.959 million respective-
ly, resulting in net assets of
$27.893 million, the insur-
ance company’s share of the
balance sheet was $4.69 mil-
lion.

Goodwill of $1.825 million
and intangible assets of
$608,772 took its total
investment to $7.125 million.

with the EPA.”

Mr Laing pointed out that
many of the structures sup-
posed to be created by the
EPA to oversee it, includ-
ing numerous committees,
were yet to be properly
formed, “but we are work-
ing and doing what it is we
are required to do under the
EPA”.

Asked whether the costs
associated with EPA com-
pliance would be prohibitive
for the Government, espe-
cially given its current fiscal
predicament, Mr Laing said
the Ingraham administration
was merely doing what it
would have to do anyway,
in terms of national devel-
opment and the World
Trade Organisation (WTO)
accession process.

“The cost is not exorbi-
tant,” he added, “because
the reality is that many of
the things we are being
asked to do under the EPA
we have to do from a
national development per-
spective. The resources to
do them are already in hand.

“We are acceding to the
WTO, and that will require
adjustments to competition
laws, intellectual property
laws, rules or origin and
modernisation of Customs
administration.

“It’s all part and parcel of
participating in the modern
trade regime of the interna-
tional community. The cost
is incremental, for the most
part, in the ordinary course
of doing business.”

Mr Laing also said there
was “no issue” over con-
cerns expressed in other

$675 net loss
bank interests

media that the Bahamas had
failed to declare the export
duties it imposed on EU
exports when the EPA
agreement was signed.

He explained that unlike
other members of the CAR-
IFORUM bloc, who had
negotiated a three-year tran-
sition period during which
to phase out their own
export duties, the Bahamas
did not need this treatment.
As a result, it never asked
for this transition period to
be included in the annexes
to the EPA agreement when
it was signed in late 2009.

And, Mr Laing said, Cus-
toms had stopped imposing
export duties on Bahamian
exports to the EU - chiefly
crawfish - in 2009 to ensure
this nation was EPA com-
pliant.

Noting that the tax rev-
enues foregone by the Gov-
ernment were “not signifi-
cant”, Mr Laing said only

two Caribbean nations had
asked for the three-year
transition period to bring
them into compliance with
the EPA stipulation that all
export taxes be removed.

“Mr Isaacs [of the Imple-
mentation Unit] indicated
that subsequent to the sign-
ing, it was discovered that
the Bahamas charged an
export duty, but we did not
want to be part of this three-
year transition phase,” Mr
Laing explained.

“We never put anything
on the schedule that said:
‘OK, we want a three-year
transition’...... There’s an
export duty that’s on the
books in the Bahamas, but
having signed the agree-
ment, the Government does
not charge or levy that duty
on shellfish being exported
to Europe. We ceased doing
so in 2009.”

Describing the situation
as “a non-issue”, Mr Laing

NOTICE

Please be advised that Lana Simmons is no

She cannot and should not be conducting
business of any sort on our behalf.

Sign Management

‘dl a

vol aaah
Sheraton

Sa

Hho he



The new 700 room Sheraton Nassau Beach Resort, Nassau, The Bahamas is looking for

Director of Operations

Assist the General Manager in administering and managing the hotel’s operation,
maintaining established costs and quality standards. Responsible for the hotel operation
in the absence of the General Manager. Participate in total hotel management as a member
of the hotel Executive Committee.

Essential Functions

* Plan, organize, staff, direct and control the hotel and operate the hotel in the absence of
the General Manager following internal, regional and Starwood policies and

procedures.

* Develop maximum profits through cost and labor control; maintain the highest standard
of services to the guests, including maintenance and cleanliness for the guests’ rooms
and associated facilities; maintain the highest standards of security for hotel patrons
and employees and maintain the highest standards of quality and service in the Food &

Beverage Department.

* Direct and coordinate the Rooms Division operations in conjunction with the General
Manager and Hotel Manager to meet the daily needs of the hotel including, but not

limited to, staffing, forecasting, controlling, and supervision.

* Direct and coordinate with the Director, Housekeeping to ensure that housekeeping
procedures are established to maximize production, regulate linen and housekeeping
supplies and to ensure the cleanliness of the facility. Certify that procedures and
controls are implemented for the laundry operation.

Skills & Abilities

* Must be able to speak, read, write and understand the primary language(s) used in the

workplace.

* Must be able to read and write to facilitate the communication process.

* Requires good communication skills, both verbal and written.

* Must possess basic computational ability.

* Advanced knowledge of the principles and practices within the rooms discipline and
hospitality profession, including experiential knowledge for management of people and

complex problems.

* Ability to study, analyze and interpret complex activities and/or information in order to
improve new practices or develop new approaches.
* Ability to make decisions with only general policies and procedures available for

guidance.

Qualifications & Experience
* Bachelor’s Degree or equivalent education/experience required.
* Four to five years of employment in a related position.

Qualified applicants are invited to visit our website or email resumes at:

snbrjobs@sheraton.com

Note: All information will be held in strictest of confidence

Deadline for all applicants is April 11, 2011



said the Bahamas still had
some legislative clean-up
work to do in relation to
international trade, ensur-
ing that statute reflected the
reality on the ground.

“If one speaks to the letter
of the law, one of the things
that happened during the
WTO accession process was
that any number of issues
were raised about matters
in law not being in keeping

with what is practiced,” the
minister told Tribune Busi-
ness.

“We are fulfilling our
obligations under the EPA
because we are not levying
export duties on exports to
Europe, and have done ever
since the end of 2009. We
will have to formally make
some amendments to the
legislation, so that in law
itself these things are not an
issue. There has to be a
piece of legislation passed
in relation to the EPA.”

The National Insurance Board

of the Commonwealth of The Bahamas

Request for Contractors Pre- Qualification

The National Insurance Board (NIB) is seeking to pre-qualify Contractors te bid an the

Renovationsof the Public Restrooms within the Claughton House Building located on

Shirley Street, Nassau, Bahamas, Contactors nvust be in compliance with the National

Insurance Hoard Acr | sx ia] Sec Uri PCHETSITIT HG |, A i meonid stanll ney ith Te (ee VE
| b 5
. Ls

Cravernment agencies,

Pre-qualification documents may be collected from NIB's Headquarters Building,

Clitford Darling Complex, Baillou Hill Road, during the period March 21-25, 2011, o

downloaded frown the Boards webslrear wwrwunily-be hanes.com

Pre-qualificarion documents should be signed, sealed and returned co-the Office af the

Directorin an envelope addressed to The Director, The Nasional Insurance Board, with

Claughton Howse Building, Shistey Street, on or belure 12 Noon on Friday, March 25,

201

COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT

2010

CLE/qui/01590

Common Law and Equity Side

The Petition of Raleigh I. Butler Sr. in respect of:-

ALL THAT tract of land containing 1,045.128
Acres being a part of the original Crown
Grant to Thomas Fraizer situate in the vicinity
of Carmichael Pond and Sandy Point and

otherwise known as

‘The Fraizer Tract’ as

well as “Carmichael’ on the Western End of
the Island of Rum Cay one of the Islands of
the Commonwealth of the Bahamas and ALL
THAT tract of land containing 1,526.41 Acres
being a part of the original Crown Grants to
Andrew Deveaux, Benjamin Lord Jr, and
William Slater in the vicinity of Hartford Caves
on the Northern Coast of the Island of Rum Cay
one of the Islands of the Commonwealth of the

Bahamas.

Raleigh I. Butler Sr. claims to be the owner of the
fee simple estates in possession of the said lands and has
applied to the Supreme Court of The Bahamas under 8.3
of the Quieting Titles Act, 1969 in the above action to
have its title to the said lands investigated the nature and
extent thereof determined and declared in a Certificate
of Title to be granted by the court in accordance with
provisions of the said Act. Copies of the said plans may
be inspected during normal office hours at the Registry
of the Supreme Court, East Street, N.P., and at the
Chambers of C.F. Butler & Associates, Charles E. Carey
Building, Dowdeswell Street, Nassau, Bahamas.

NOTICE IS HEREYBY GIVEN that any person
having dower or a right to dower or any adverse claim
not recognized n the Petition shall before the 2â„¢ day of
May A.D., 2011 file in the said Registry of The Supreme
Court and serve the Petitioner or the above C.F. Butler
& Associates a statement of such claim in the prescribed
form verified by an Affidavit to be filed herewith.
Failure of any such person to file and serve a statement
of such claim by the above time will operate as a bar to

such claim.

C.F. BUTLER & ASSOCIATES
Chambers

Top Floor, Charles E. Carey Bldg.
Dowdeswell Street

Nassau, The Bahamas

Attorneys for the Petitioner






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FASHION mogul and long-time Lyford Cay resi dent Peter Nygard has issued a cease and desist letter to his property owners association. Citing intimidation from the private security firm hired to patrol the gated residential community, Mr Nygards legal counsel has also lodged a formal comN ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER PLPs blast PM s personal attack V olume: 107 No.96FRIDAY, MARCH 18, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER SUNNY AND BREEZY HIGH 81F LOW 69F S P O R T S By CELESTE NIXON T ribune Staff Reporter cnixon@tribunemedia.net OPPOSITION MPs yesterday criticised the prime ministers remarks about businesso wner Sandy Schaefer, which they regard as a "personal attack" on the businessman. In a joint statement issued yesterday, Fox Hill MP Fred Mitchell and Ryan Pinder MP for Elizabeth said that Prime M inister Hubert Ingraham's remarks about Robin Hood o wner Mr Schaefer were "improper, inappropriate, and threatening." M r Ingraham, speaking about Mr Schaefer criticisms of the road work project on Prince Charles Drive follow i ng a tour of the new Public Treasury building Wednesday morning said: "It is most r egrettable that such a person has been allowed to have that type of business in the coun t ry. He is not a good person MPs say Ingrahams remarks about Robin Hood owner were improper and threatening TRY OUR D OUBLE M cFISH The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM SEE page nine CUSTOMS Comptroller Glen Gomez said last night that the Customs and Police raid on Robin Hoods Harrold Road store Wednesday night had nothing to do with Prime Minister Ingrahams comments earlier that day that the owner of the store was not a good person for the Bahamas. Mr Gomez said the Customs and Police had gone to the main store at closing time Wednesday night to get a computer that would help them in investigations they had CUS T OMS RAID ON ROBIN HOOD HAD NOTHING TO DO WITH PM COMMENT SEE page nine URCA has formally r equested a copy of a show hosted by Steve McKinney as part of an investigation into whether Gems Radio Station has contravened communications regulations. On March 16, the regulator i ssued a formal notice which stated: In accordance with S ection 53(1 nications Act, 2009 the Utilities Regulation and Competition Authority (URCA issued codes that shall be observed by licensees providing audio/visual media ser-v ices. Such codes were issued by URCA on April 9, 2010. This notice is to advise URCA SET TO INVESTIGATE STEVE MCKINNEY SHOW SEE page nine GREENSCENE: Junkanooers entertained tourists and pedestrians on Charlotte Street at the St Patricks Day festival yesterday afternoon. Local businesses partnered with the Ministry of Tourism to create the event, complete with themed food and drink specials, face painting, and entertainment. Last night, merchants touted the event as a huge success which drew both visitors and residents SEEPAGE TWO S T P ATRICKSDAYFESTIVAL TIM CLARKE/TRIBUNESTAFF By PAUL G TURNQUEST Tribune Staff Reporter pturnquest@ tribunemedia.net DR Andre Rollins confirmed to The Tribune last night that he has applied to the PLPs Fort Charlotte branch to be their new representative By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net SENIOR members of the Free National Movement do not expect any Parliamentarians within their party to break rank and vote against the privatisation of BTC. DR ANDRE ROLLINS APPLIES TO BE PLPC ANDIDATE FOR F ORT CHARLOTTE SEE page nine SEE page nine FNMS N OT EXPECTED TO BREAK RANKS OVER BTC SEE page nine DETRACTORS of the government's $210 million sale of BTC are calling on the country's religious leaders to "cover" them at a series of prayer vigils hosted ahead of Monday's planned demonstration. The call came at an anti-privatisation town meeting organised by Operation National Rescue, a civic group headed by former Cabinet minister in PETER NY GARD ISSUES CEASE AND DESIST LETTER TO PR OPER TY OWNERS ASSOCIA TION C ALL F OR RELIGIOUS C OVER AT PRAYER VIGILS AHEAD OF BTC DEMONSTRATION SEE page nine CUSTOMS Comptroller Glen Gomez ARIANNA MAKES HISTORY SWIMMING STAR BECOMES FIRST BAHAMIAN TO WIN NCAA CHAMPIONSHIP TITLE

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LOCAL NEWS P AGE 2, FRIDA Y MARCH 18, 201 1 THE TRIBUNE B y LI ND SA Y TH OMP S ON DEP UTY P rim e Min ist er a n d M i n i s t e r o f F o r e i g n A f f a i r s B r e n t S y m o n e t t e called on the Church of God o f P r o p h e c y t o s t r e n g t h e n partnerships towards a more caring society. He w a s ad dre ssing t he 9 0 th An nual N atio nal C onv enti on o f t h e C h u r c h o f G o d o f Pr ophecy at t he East Str eet Tabernacle on Monday. The week-long convention u n d e r th e t h e m e : Le d B y H i s S p i r i t i s a d v o c a t i n g f o r a b e t t e r c o m m u n i t y t h r o u g h spiritual guidance. T h e C h u r c h o f G o d o f P r o p h e c y i s n o t a b l e i n o u r c o m m u n i t y n o t l e a s t o f a l l becaus e i t has alway s t aken a n all -embra ci ng ap proac h to li fe, inclu ding the wid er c ommunity together with its reg i st er ed me m be rsh i p in it s o ut reach," Mr Symonette said. H e a c k n o w l e d g e d t h e c hu rch a s a p la ce f or h av ing a reput a t ion of happin e s s and j oy ; of spi r i tua l san c tua ry an d comfort; a music-filled place where worship services seek a l w a y s t o b e u pl i f t in g a n d s o u l affirming. He said although the gov e rnme nt h as m ade sig nifi ca nt p r o g r e s s i n i m p r o v i n g t h e quality of life, a new affinity w ith m ate r i ali sm a nd a w ea ke n i n g o f t ra d i t io n a l fa mi l y v a l ues as well as the illicit drug t ra de c o nt in ue s to w re a k ha v oc on Bahamian society. "A nd so I he art ily em bra c e th e ca ll of the C hurc h o f G od Inc orpo r a ted in th e Ba ham as for us the church, the gov e r nme nt, the fam ily, the peop le to b e l ed b y th e sp iri t; t o become even better partners i n o u r c o u n t r y s o t h a t w e become a more caring, com p a s s i o n a t e a n d C h r i s t i a n B a h a m a s M r S y m o n e t t e said. H e p l e d g e d t h e g o v e r n ment's continued support to s e cu r e a n d ex p a n d f u n d i ng for education and for techni c al voc ational tr a ining especially for the youth, notwith st and in g the se d if fi cult economic times. "W e remai n c onsc ious a lso o f t h e s p e ci a l n e e d s o f o u r sen ior ci tizens who need an extra helping hand. We look t o co n t i n u i n g t o wo r k wi t h y o u t o s t r e n g t h e n p r o g ram me s o f a ssista nc e for th e aged pa rt i cul ar ly w her e t he c h ur c h is ab le to exp and it s i nvolv eme nt," Mr Sy mone tte said. DPM Symonette calls for mor e caring society Brent Symonette Scenes from yesterday's St Patrick's Day Festival held on Charlotte Street. Local businesses partnered with the Ministry of Tourism for the event. C E L E B R A T I N G D A Y S T PA T R I C K 'S Photos: T im Clarke/ T ribune Staf f

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LOCAL NEWS T HE TRIBUNE FRIDAY, MARCH 18, 2011, PAGE 3 THE Tribune understands that a senior manager of a well known youth group is expected to appear in court today concerning the alleged theft of tens of thousands of dollars from the organisation. When contacted the director of the group, said he was unable to comment at this time, but that the organisa tion would release a state ment at a later date. Y outh gr oup manager expected in cour t over alleged theft By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net A MAN convicted of attempting to rob an armoured truck outside a bank in 2007 had his conviction and sentence quashed by the Court of Appeal yesterday. Ryan Omar Butler was convicted last September of attempting to rob armored truck driver Andrew Knowles outside the Royal Bank of Canadas Prince Charles Branch on December 21, 2007. The Court of Appeal found yesterday, however, that the evidence presented did not support the charge. The court is expected to deliver a written judgment at a later date. Butler was represented yesterday by attorney Roberto Reckley. Vernal Collie appeared for the prosecution. Butler appeared jubilant following the courts decision yesterday. At the trial, prose cutors had alleged that Butler was one of two armed men who banged on the door of an armored truck and demanded that the employees inside it open the door. However, the robbery attempt was thwarted by a police reservist and an offduty police officer, who were nearby. Prosecutors contended that Butler was shot during capture. Butler claimed he was merely an innocent bystander and that police shot him acci d entally. He claimed that at the time of the incident, he was heading to the Super Value food store in the Prince Charles Shopping Centre to purchase milk for his girlfriend. Butler had been initial ly charged with Raymond Bastian. However, Bastianw as gunned down on Abundant Life Road in what police described as a "drive-by shooting" two days before the start of the trial. Man convicted of armoured truck robbery attempt has conviction quashed A CTING Postmaster General Leslie Cartwright yesterday advised members of the public that rental fees for private post offices boxes are past due and should have been paid on or before January 31, 2011. Persons who rent post office boxes are advised that until March 31 they may be allowed to retain their box(es charge of $10 in addition to the rental fees. Fail ure to comply within the specified period will result in the closure of the boxes which may be assigned immediately to other persons due to the limited availability of boxes. FNM Cabinet Minister and Senator Dion Foulkes hit back at PLPs criticism of the controversial Bell Island development in the Exuma Land and Sea Park yesterday. Speaking in the Senate yesterday, the Minister of Labour and Social Development said the opposition was hypocritical in their complaints against the governments approval of the project, as several developments within the protected park were approved under the Christie administration. Mr Foulkes said: Under their administration they allowed to be dredged four separate marinas and harbours. We saw no evidence that there were any EIAs (environmental impact assessments) done on any of those cays. And, Mr Foulkes tabled documents concerning developments at three cays: Soldier, Indigo and Wax Cay. Soldier Cay and Indigo Cay, he said, are less that 400 feet from Bell Island, while Wax Cay is on the border of the park. Defending the Bell Island project, Mr Foulkes said that several EIAs were undertaken and that the developer completed all the requirements of the government, the Town Planning Department and the Bahamas National Trust. THE Court of Appeal has reduced the prison sentence of a German man convicted of the possession of $30,000 worth of marijuana. Hans-Jrgen Rolf Fink, 47, of Berlin, was convicted last August after admitting to pos session of 30lbs of marijuana with intent to supply. The drugs were reportedly seized from a home in Pinewood Gardens whereFink lived with his wife. Fink, who claimed to be a Drug Enforcement Administration (DEA that the drugs were part of a shipment. Fink claimed he had been involved in a drug run to Jamaica and had been a DEA informant. Fink told the court he had been given the drugs to give to someone else. Finks wife was ordered deported after the prosecution withdrew the charges against her. Fink told the appellate court yesterday that he felt his 36 months sentence was excessive. The court reduced his sentence yesterday to 18 months to take effect from the date of his conviction. German convicted of possessing marijuana has sentence r educed COPA Airlines, which further opened the Bahamas to the Latin American market, is already prepared to upgrade its flights to the country if the demand is high when it beginss erving Nassau in June, Tourism Director General David Johnson said Tuesday. Mr Johnson laid out for dozens of tourism stakeholders the actions that the Ministry of Tourism & Aviation is taking to attract more visitors from Latin America and to better serve them. In addition, he pointed to the potential economic gains. Initially, COPA Airlines will begin its non-stop service from Panama City to Nassau with Embraer jets that seat 94 passengers. However, Mr Johnson said, COPA also has Boeing 737-800s that carry more than 170 passengers. Those jets can be positioned in the Bahamas if the number of travellersd emands it. They have the capacity to immediately, if demand is there, upgrade to a l arger jet, Mr Johnson said. COPA has committed 20,000 seats to Nassau in its first year. This has the potential to double the Bahamas arrivals from Latin America. Additionally, Mr Johnson said all Bahamian islands could benefit from COPAs presence through agreements the airline has with Bahamasair that allow COPA to sell directly and seamlessly into Bahamasairs flights. This will allow travelers on the Panama City to Nas-s au flight to make direct connections to islands such as Grand Bahama, Exuma, Abaco and Eleuthera. Mr Johnson encouraged Bahamians to embrace the Latin American visitors, offering them the professional care that should be delivered to all guests. If they are happy, I can tell you these are folks who spend money, he said. There is no recession in Latin America. Frank Comito, executive vice president of Bahamas Hotel Association, said there is tremendous economic potent ial in the Latin American mar ket. There is no recession in Latin America, Mr Comito said. The continued growth of economies like Brazil and Mexico contributed to the regions 6.6 per cent growth (in 2010). That is more than triple the growth in the United States l ast year. The size of Latin Americas population also makes it a potentially lucrative market for tourism. The combined population of the US and Canada is just under 500 million people, Mr Comito said. They represent almost 90 per cent of our total number of visitors to the Bahamas today. The population of Latin America is over 500 million people. They represent around 2 per cent of our total visitor population to the Bahamas today. The hispanic population in the United States is the fastest growing ethnic population in that country. Over 15 million people in the US categorise themselves as being of Latin A mericna descent. Nearly half of them say Spanish is their primary language. Mr Comito also pointed out that Goldman Sachs Review of Emerging Economies projects that Brazil and Mexico will be among the worlds five largest economies by 2050. Peru, Venezuela and C olombia are among nations that have per capital GDPs that are greater than that of China, and as of 2010, Argentina, Chile, Uruguay, Mexico and Panama were classified as high income countries. Tourism chiefs hail potential of the Latin American market court NEWS RENTAL FEES FOR PRIVATE POST OFFICE BOXES PAST DUE MINISTER LASHES BACK AT PLP CRITICISM OF PROJECT Late last night, police were investigating the shooting of a man in the Kemp Road area. The victim was shot in his chest near St Margarets Church shortly before 6.30pm, and taken to hospital by private vehicle. Up to press time, police were still processing the scene and could not give further details. Police investigate shooting of man ADDRESS: Director General of Tourism David Johnson addresses tourism stakeholders on the importance of Latin American market. COPA Airlines prepared to upgrade flights to country D e r e k S m i t h / B I S DION FOULKES

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EDITOR, The Tribune. Just have to comment on the media cover for the opening of the new US Departure Terminal LPIA before we find ourselves lost in wonderland. A considerable improvement however lets be careful Barbados, Jamaica and Trinidad in the region also have nice looking and functional airports. What is an Airport in 2011? A functional item of basic infrastructure to handle large groups of passengers trying as quickly as possible to move from one A to B, B being somewhere else not in The Bahamas. How can it be a magnet to attract. Tourists? Dream-on here. The truth is in the pudding already TSA/US Border Con trol on the US-Mexico border are in trials for a biometrics card instead of a passport which you just position close to a scanner and it will process you. Border Control as we see it at LPIA or returning in the US will very soon be a dinosaur. The required two hour preflight will be eliminated so all the internal facilities of bars, snack places and restaurants will have little or no time to serve passengers. I hope not like Denver a few years ago and more recently the new British Airways Terminal Heathrow NAD will have run enough bags through their Baggage system to ensure no hold ups and I hope the bag retrieval for returning residents and visitors improves by at least 50 per cent. Yes an improvement needed long over due now lets hope we keep the place clean? Remember what an Airport is .....a basic functional item of infrastructure. W THOMPSON Nassau, March 1, 2011. EDITOR, The Tribune. I believe my letter will be the third in one week that a ddresses the transportation of prisoners. This afternoon at 4.30pm I w as driving west on the Montagu Foreshore. The traffic g oing east was bumper to bumper and barely moving. E veryone going home at the end of the day. A car was ahead of me, and w hen I looked just beyond, a white police car and a yellow bus appeared. Both were barreling down the road, totally and completely on my side, and at a speed that was well over the limit. The police car and bus were overtaking the line of traffic going east. I n a split second I knew I was going to be hit head on. T here is nowhere to go on t hat stretch of road, and the car and bus kept coming. I pulled left as far as I c ould, pushing into bushes a nd a wall, and still believing t hen that the side and end of my car would be gone in an instant. H ow I was spared, the driv er in front of me, and the line of cars heading east, is beyond me. W hen it was over I felt like the air had been sucked out of me and I was shaken to say t he least. Never have I experienced anything like this. I live east, and often the conv oys bear down on me while I am driving home. It is always a very distressing e xperience, however, this time I thought it was the end. T he Police Department, I believe, is mandated to prot ect the citizens of The Bahamas ...Whatever happened to protecting the m otoring public against police escorts and prisoners buses? My car is scratched....I am alive.... There has to be a better way. Who is in charge?? LEE OGILVIE Nassau, March 14, 2011. E DITORIAL/LETTERS TO THE EDITOR P AGE 4, FRIDAY, MARCH 18, 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 Circulation Department (242 N assau Fax: (242 F reeport, Grand Bahama: 1-(242 WEBSITE www.tribune242.com updated daily at 2pm IT SEEMS that The Tribune has been unwittingly drawn into the vortex of a quar rel between two Lyford Cay neighbours, neither of whom do we know personally. Recently we received a letter from Mr Louis Bacons London solicitors stating that they understood that copies of a column entitled Hard Copy Off Air Special Column, originally published in The (name withheld), are on occasion being inserted into copies of The Tribune creating the impression they are being distributed as part of the newspaper. We have withheld the name of the other newspaper mentioned, although we have spoken with its publisher who was as mystified as we were and maintains that no such column was ever published in his newspaper. We had never heard of any column of this title, nor of such a radio programme. How ever, we were later told that the radio programme of the same name was a Steve McK inney show. Mr Bacons London lawyers said that the contents of the column are frequently highly defamatory of their client. Mr McKinney must have received a sim ilar letter from Mr Bacons lawyers, because we are told that about a week ago he had a disclaimer on his show denying all responsi bility for the newspaper inserts and stating that his show, Hard Copy, was not affiliated with the flyer. We are told that he said that the respon sible parties have been warned about the use of the copy-written name of his show in the flyer. This statement suggests that Mr McKinney knows who the responsible parties are. His statement also confirms that flyers are being inserted into local newspapers. Of course, we have had our own investi gators out trying to find out what Tribune sellers are accepting money to insert these flyers into The Tribune. As expected no one is admitting guilt, but they all know that if they are discovered the consequences for them will be serious. However, someone very close to one of the disputing neighbours has given us two names. He claims that these two persons both persons very well known to us had the flyers inserted into the papers at the depots and distribution points. When we first received the lawyers let ter we were in disbelief, because when anything like this happens many of our readers call The Tribune immediately to inform us of the abuse. This time, however, there were no calls, which leads us to believe that these insertions were targeted only for the exclusive Lyford Cay area. One of our reporters called Mr Nygards Nassau lawyer, who admitted that certain persons had been doing things on behalf of Mr Nygard without his consent, approval or knowledge. The lawyer said he had contacted Mr Nygard to ask about the flyers only to be told by Mr Nygard that he had no idea that anything like this had been going on. This suggests that Mr Nygards lawyer also knows the identity of these persons. It has been further suggested that they are the same names that we now have in our possession, one of whom was well known for doing things for Mr Nygard in the past. Mr Nygards lawyer said that if persons have been attacking Mr Bacon, his neighbour Nygard has had nothing to do with it. According to the lawyer, Mr Nygard has never seen the flyers. We do not expect this to end here. We plan to hand over all the information that we have been able to gather to Mr Bacons lawyers and they can take it from there. In the meantime we ask all of our readers to telephone us immediately if they discov er any flyer in The Tribune that contains questionable material. When they give us this information, we would also appreciate them noting whether the newspaper was delivered to them, whether they bought it up at a depot or whether they bought it from one of the street hawkers. If from a depot or a street hawker it would be helpful if they would let us know the name of the depot, and in the case of a hawker the area in which he was selling. As for the culprits who would encourage these poor sellers to do something so corrupt for a few dollars, they can rest assured that the future holds no good for them particularly if we get the evidence that we now need to conclusively confirm what we already know. Police escorts, prisoner buses and my moment of acute distress LETTERS letters@tribunemedia.net Tribune sellers being corrupted by operatives 6+(5
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LOCAL NEWS T HE TRIBUNE FRIDAY, MARCH 18, 2011, PAGE 5 S ISTER Annie Thomps on,a Benedictine nun of St Martins Monastery on Nas s au Street, recently fulfilled a l ife-long dream to visit African Benedictine com munities when she travelled to Uganda accompanied byS ister Barbara C Schmitz and Carolyn Fuhs of Indiana. D uring their stay, the women had a chance to visit the Uganda cities of Jinja, Tororo, Butende and Aruaw here they visited with oth e r Benedictine sisters and the monks of Tororo. They also had a chance to teach at a local school andto witness a Faith-in-Action Baptism ceremony in Irun d u. S ister Annie said that the t rip was truly amazing. In summary I would say that this mission was a joyfilled one. We feel that we received much more than we gave. We feel blessed to have met so many wonderful people and to have experienced the Pearl of Africa. Meeting and interacting with our Benedictine Sisters and Brothers made a profound impression on us. In addressing the specific topics from the Rule of Benedict, Sister Barbara and I felt that we were able to renew with them the Benedictine values and traditions of listening, obedience, humility, conversatio morum and of keeping a healthy balance between prayer and work, Sister Annie said. P OLICE are investigati ng two armed robberies in w hich two stores the A & D Power Buys on Faith A venue and Margos Conv enience Store in Pinewood G ardens were targeted. A & D Power Buys off C armichael Road was held u p around 2.22pm on Wednesday. A man wearing a white T-shirt and short gray jeans entered the store, armed with a handgun, and demanded cash. T he culprit robbed the e stablishment of an unde t ermined amount of money a nd fled on foot in an easte rly direction on St Vincent R oad. A few hours later, at a round 9.50pm, police r eceived information of an a rmed robbery at Margos Convenience Store inP inewood Gardens. Police r esponded and were told that two men, one of whom was armed with a handgun, entered the store and demanded cash. The culprits robbed the store of an undetermined a mount of money before f leeing the area in an u nknown direction. POLICE said they are following significant leads in their investigation into the discovery of illegal firearms and ammunition at a Toote Shop Corner home. Around 9.40 pm on Wednesday, officers of the Quakoo S treet Police Station along with officers of the Central D etective Unit went to a home at Toote Shop Corner off East Street armed with a search warrant. On arrival at the residence, police observed two men fleeing. The officers conducted a search of the home and recovered two handguns with a quantity of ammunition. THE Grand Bahama Port Authority said it has seen a considerable increase in the number of applications for new businesses in the downtown area. New GBPA-sponsored initiatives have greatly impacted occupancy levels inthe International Bazaar, and now we are experiencing renewed interest from commercial applicants in Freeports city centre, said GBPAs manager of customer relations Nicole Colebrooke. As earlier announced by GBPA president Ian Rolle, the Ports business licence application has been stream lined with a reduction in required documentation. Additionally, the approval process has been reduced to 48 hours in most cases for Bahamian applicants, GBPA said. Businessman Hercules Knowles said he was amazedat how quickly his GBPA application was approved, allowing him to open up a bakery in the newly opened Downtown Welcome Centre. The Port Authority helped me tremendously, Mr Knowles said. They gave mean opportunity, told me what to do and helped me step-bystep with everything. The business licence application process was very easy. I was surprised myself. Opened since November of last year, Raspberrys Pas try Shop, Mr Knowles pastry establishment caters to locals and tourists alike. He described this prime location as an opportunity of a lifetime. Im in the right spot. Also, being in the heart of downtown, I feel like Im a part of the revitalisation thats taking place. Owning a business is a challenge. It may be hard at first and you will have a few challenges but you have to stick with it. Nothing good comes easily and today, I can say Im beginning to enjoy the (fruits Mr Knowles. The multi-purpose Wel come Centre is an integral component of the Downtown Turnaround project launched by GBPA in 2009. Primary aspects of the 1,495 square foot handicap accessi ble structure include a Royal Bahamas Police Force and Road Traffic Division dualsatellite station, restrooms and a snack shop. BEAKED whales are highly sensitive to naval sonar testing and are disturbed by the sounds, say scientists who monitored the mammals in the Bahamas. The research, led by scientists at the University of St Andrews in Scotland, suggests that the whales do their best to quickly escape the disturbance, according to a study published Monday. The study was limited to Blainville's beaked whales that swim near the United States' naval underwater range AUTEC where sonars are in regular use off Andros. Diane Claridge, executive director of the Bahamas Marine Mammal Research Organisation, was one of the principali nvestigators on the study. The team played sonar sounds to the whales and were able to measure their reactions through electronic tags attached to the mammals. The tags measured the sounds the whales heard and their subsequent swimming patterns. Chief Scientist Professor Ian Boyd, who worked with an international group of sci-e ntists, said the mammals swam away quickly to avoid the sounds. "We showed that the animals reacted at much lower levels than had previously been assumed to be the case. We stopped exposing the animals to the sounds before there were any dangerous effects but it was clear that these whales moved quickly out of the way of the sonars. We now think that, in some unusual circumstances, they are just unable to get out of the way and this ends up with the animals stranding and dying. There was always a strong association between the d eath of these strange and little-known animals and naval exercises. We have now shown that this may well be the case." Mr Boyd added that the beaked whales are not only disturbed by sonar testing but other underwater sounds as well. "There is a tendency to blame the Navy for every stranding event and that is ridiculous. We are now beginning to understand t hat some species of whales and dolphins appear to be much more robust to disturbance by sound than others. "We also found that beaked whales responded in the same way to sounds other than sonars, including the calls of killer whales. It appears that they just don't like unusual sounds but the way in which sonars are used to hunt for submarines may mean that the whales are more vulnerable to that type of sound." W hile Mr Boyd feels the research his team gathered could help prevent whales from stranding due to sonar testing, he said he is also concerned about other sounds from humans that disturb the animals. ". .I am also worried that the general levels of sound that humans make in the ocean from all sorts of sources like ships, o il and gas exploration and renewable energy may be a much more serious problem for beaked whales and some other sensitive species. "Perhaps the most significant result from our experiments is the extreme sensitivity of these animals to disturbance." The research was published in the scientific journal PLoS One this week. ARMED ROBBERIES AT TWO STORES SIGNIFICANT LEADS INTO ILLEGAL FIREARMS, AMMUNITION DISCOVERY Beaked whales disturbed by sounds of naval sonar testing Business owners take advantage of downtown Freeports prime location HERCULES KNOWLES opened his new pastry shop in the heart of downtown Freeport last November. Benedictine nun fulfills life-long dream SISTER ANNIE THOMPSON gives a guitar lesson to Sister-in-train ing Peter Maria of the Benedictine Sisters of Tutzing, Uganda. Scientists release findings of research in the Bahamas SCIENTISTS studied beaked whales (above

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A B A H A M I A N h a s become one o f the firs t students of Linco l n Univ er si ty s el e c t e d f o r an in t e r n s h i p at P r ic e wa t er h o us e C o op e r s Om ar Gli nt o n o f N a s s au s p o k e t o t h e u n i v e r s i t y s s t u d e n t r u n p u b l i c a t i o n T he Li n c olnian ab ou t s co ring s uch a s oug ht af te r p osi t i o n w i t h i n o n e o f t h e w o r ld 's la rg es t ac c o u n tin g f i r m s I k n e w t h a t I h a d t o w o r k h ar d w h i le a t P r ic ewat er house C oope rs so tha t I c o u l d m a k e a n a m e f o r fe ll ow L incol n st uden ts tha t w ill s oo n fo llow, M r Glint o n to ld Th e Lin c o ln ia n. W h i l e i n t e r n i n g M r G l in t o n w a s th e o n ly s t u d e n t f r o m a h i s t o r i c a l l y b la c k c ol leg e an d un iv er s it y an d t h e on ly o n e o ut o f 7 5 s t ud e n t s n at io n w id e t o recei ve a $3,0 00 sc hol arshi p o n b eh a lf o f th e c om pa n y. M r Glin to n is n o w n ear i n g h i s t h i r d y e a r a s a n i n t e r n f o r t h e u p c o m i n g s u m m e r a t P w C a n d h i s f u t u r e a t t h e c o m p a n y l oo k s b r igh t. W h e n I f i r s t c a m e t o Linc oln I was un sur e of the p o t e n t i a l t h a t I h a d b u t L in c o ln a nd i ts p r o fe ss o r s in th e b u sin es s d ep ar tme nt m a d e m y t r a n s i t i o n a s moo th an d su c ces s ful on e. T h e b u s i n e s s d e p a r t men t later p rep ared me fo r my inte rns hip at P wC, Pr of e s s o r R o b e r t A l l e n e xp o s ed me to th e o p p or t u n i t y b a s e d o n m y 3 9 8 G P A d u r i n g m y s o p h o m o r e y e a r a n d e v e r s in c e t h e n I h a v e n t l o o k e d b a c k h e to ld h is s tu d en t p u b l i c a t i o n Mr Gli n ton is the p resid e n t o f S t u d e n t s i n F r e e E nter pris e, K ing of 2011, a fo rmer member of th e Lincol n U ni v e r si t y ba se b a l l a nd s oc cer teams, and tr easur er o f t h e N ati onal Assoc i ation o f B lack Ac c ou ntants H e i s a l s o a r e s i d e n t a d v i s o r f o r A p a r t m e n t S t yl e L i vi n g a n d a v o l u n t e e r a t t h e C o a t e s v i l l e Y o uth an d Woman 's Ass oc iat io n ( C Y WA ) T O P i n t e r na t i o na l l a w y e r s are in town this week for a three-day c onferen ce hosted b y th e E ugene Dupuc h Law School. A l l o f t h e s p e a k e r s r ec ei ve d a c o m p li me n t ar y co py of th e 2 0 04 i ss ue of th e Ba hama s Handbook, which i nc l ud e d t he s t o ry o f t he l e g e n d a r y E u g e n e D u p u c h QC, for whom the school is named. In add i ti on th ose at t end i ing the conference received The Bahamas Investor, the Wh at -t o -d o mag a z in e, t he D i n i n g G u i d e a n d t h e Bahamas Trailblazer maps. T h e W e l c o m e B a h a m a s books are circulated in the hotels. Am ong st the 40 pa nel l is ts we r e d i s ti ng u is h e d j u r is t s l e g a l scho l a rs, p sy cho l og i st s, so c i al w or k e rs an d ed u c at o r s f r o m t h e C a r i b b e a n Ca na d a, th e U nit ed K in gd o m t h e U n i t e d S t a t e s Germany, Sweden and Ser bia. A m o n g t h e m w e r e t h e L o rd Jus ti ce M at t he w Th or p e f r om t h e C o u r t o f A p p e a l of England and Wales, and M a d a m e Ju st i c e Na n cy F l a t t ers f rom t he Ca lg ary Fa mi l y a n d Y o u t h C o u r t i n Alberta, Canada. T h e e ve n t h e l d Ma r ch 1 7 1 9, was hosted by u nde r the t h e m e T h e L e g a l a n d Social Consequences of the Disintegration and Reinte g r at i on of Fa m i l i es ." A bou t 2 0 0 p e r s o n s a t t e n d e d t h e conference. Matters discussed includ e d m a r r i a g e a n d d i v o r c e co habitation pr op erty distribution, mediation, pater nity and inheritance. Ot her t opics on the age nd a w er e tr a n sr a c ia l, i nt er c o u n t r y a n d s a m e s e x a d o p t i o n a s s i s t e d r e p r o d u c t io n an d et h ic al is s ue s c h i l d d e v e l o p m e n t i n t e r n a t i o n a l c h i l d a b d u c t i o n j u v e n i l e d e l i n q u e n c y d o m es t ic v io le n c e h u ma n r i g h t s a n d t h e f a m i ly a n d s a me se x m ar r iag es LOCAL NEWS P AGE 6, FRIDA Y MARCH 18, 201 1 THE TRIBUNE By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net F R E E P O R T T h e c r e a ti o n o f a n e w c ru i se p o rt ma y n ot b e r e al ised any time soon a c c o r d i n g t o M i n i s t e r o f Wor ks and T r ans po rt Neko G r a n t w h o r e v e a l e d t h a t a major cruise line is reluctant to pa rt n er wi th th e go ve rn m e n t b e c a u se o f t h e u np l e a s a n t v i s i t o r e x p e r i e n c e i n Grand Bahama. Of the 37 ports visited in the region Grand Bahama is ranked last based on surveys taken by a major cruise line, Mr Grant said. "The cruise port, I can say that it appear s th a t it is not going to be a reality anytime s o o n h e s a i d i n G r a n d Bahama on Wednesday. "We ha d hoped to partner with one of the major cruise l ine s in the cre atio n o f a p ort, r e g r e t t a b l y t h e y h a v e foundthat (passengers) do no t h a ve a pl ea s an t e xp er i ence in Grand Bahama. "They sugge s t to us that, b ased on th eir survey s, out of 3 7 p o r t s t h e y v i s i t i n t h i s region that we are 37. A n d s o i t s e r v e s a s a w a ke up c a l l f or u s to be g i n t o r e e x a m i n e o u r s e l v e s h e said. C r u i s e l i n e s h a v e c o m p l a i n e d i n t h e p a s t t h a t F r e e p o r t H a r b o u r w a s t o o in d u s t r i a l an d t o o f a r f r o m m a j o r t o u ri st a tt r a c t io n s l e a d ing some cruise ships to drop Grand Bahama from its itin erary. It was felt that a new port w a s n e e d e d i n F r e e p o r t t o a t tr a c t m o r e m a j o r c r u i se l i n e s to the island. L a n d w as d es i g n at ed b y t he gover nment in Willi ams T o w n f o r a p r o p o s e d $ 1 0 0 mi llion c r uise port and Carniva l Cru ise Line w as ex pec te d t o b e a p o s s i b l e m a j o r str a te g i c pa r tn e r w i th th e g o v ernment to build it. In F ebr uary 2009, Car niv al Cr ui se s ex ecut ive G io ra I s r a e l s a i d t h e c r u i s e l i n e w o u l d b e h a p p y t o m a k e w h a t e v e r i n v e s t m e n t w a s needed to get the cruise port off the ground. M r Israel sa id he ha d bee n in talks with the government s inc e 1 997 about his vision of t h e d e v e l o p m e n t o f a n e w cruise port that would estab lish the isla nd a s a maj or ne w cruise destination. M i n i s t e r G r a n t s t r e s s e d t h a t r e s i d e n t s m u s t e n s u r e that visitors have a "wonder fu l e x p e ri e n c e w h e n t h e y v i sit Grand Bahama. "There is a need for us to apprec iate vi s ito r s whe n the y come here. We ha ve to ma ke them feel welcomed so they can go and tell friends of the w o n d e r f u l e x p e r i e n c e a s o p p o s ed t o r ep o r t s t h at we a r e n o w g e t t i n g b a c k h e said. The g ov e rnme n t h as ta ke n p o s s e s s i o n o f t h e l a n d i n Williams Town and has post ed a notice on the site. Mi n i s t e r : N e w c r u i s e p o r t ma y n o t b e a r e a l i t y a n y t i me s o o n TH E RE i s st i l l a w ay s t o g o u nt i l t h e ei g h th a nn ua l B a ha m a s I nt e rn at i o na l Fi l m F es t i va l ( BI FF) i n D e ce m b e r, b ut o rg a ni s e rs sa i d th e y a l r ea d y ha v e da t e s s che du l e d f o r s pe ci a l f i l m e v en t s d ur i ng t he n e xt f e w m on th s. T he BI FF Fi l m Se r i es ha s p a r t n e r e d w i t h F i r s t C a r i b b e a n B a n k I n t e r n a t i o na l a n d w i l l b e sc re e ni n g f i l m s e ve r y fi r st T h urs da y o f t h e m o n th f ro m Ap ri l 7 u nt i l N ov e m be r 3 Fi r st up i s T he A t hl e t e" w hi c h te l l s t he st or y o f ho w a n u n k n o w n b a r e f o o t E t hi o pi a n ma n wh o st un ne d t h e w o r l d b y w i n n i n g O l y m p i c g o l d i n t h e m a r a t h o n b e c o m i ng a s p o r t s l e g e nd ov e rn i g ht T h e f i l m w i l l s c r e e n a t 8 p m o n A pri l 7 at G a l l e ri a Ci n e m a 6 J FK. I n a d d i t i o n t o t h e f i l m se r ie s, B I F F s a id it i s als o p a r t n e r i n g w i t h V i a C a f ÂŽ a n d t h e N a ssa u D ow nt ow n P ar t n e r s h i p t o h o s t F i l m s I n T h e S q u a r e M o v i e s w i l l b e s h o w n e v e ry F ri da y a t 7 .3 0 pm f rom M a y 2 7 t o A u g u s t 2 6 i n R a w s on Sq ua r e. S i n c e i t s l a u n c h s e v e n y e a r s a g o B I F F h a s s h o w c a s e d mo r e t h a n 5 00 f i l m s f r o m m o r e t h a n 5 0 c o u n t r i e s i n c l u d i n g t h i s y e a r s B e s t Pi c t u r e O s c a r w i n n e r T h e K i ng s Spe e ch ." Bahamian student selected for Pricewaterhouse internship BIFF announce the dates for film events I n t e r nat ional lawyers arrive f o r three-day confer e n c e PRESENTATION: Etienne Dupuch III, grand-nephew of Eugene Dupuch, QC, reviewing the publications with Tonya Bastian Galanis, principal of the Eugene Dupuch Law School. Minister Neko Grant OUTSTANDING: Omar Glinton (a bo ve ) b ec om e o n e o f t h e f i rs t students of Lincoln University s e l e c te d fo r a n i n te rn s h i p a t Pricewaterhouse Coopers. Share your news The T ribune 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 awar d. If so, call us on 322-1986 and shar e your stor y

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LOCAL NEWS THE TRIBUNE FRIDA Y MARCH 18, 201 1, P AGE 7 THE students and teachers of PA Gibson Primary School in Hatchet Bay, Eleuthera hosted their second annual multi-cultural fair in celebration of Com monwealth Day on March 14. The fair featured seven countries including Japan, the Philippines, San Sal vador, Italy, Ireland and China. The students partic ipated in dances and other forms of entertainment to showcase the cultures of the various countries. Public Works and Trans port Minister Neko Grant along with Alvin Smith, MP for North Eleuthera, made a surprise visit to the fair during a visit to that settlement. T H E C o a s t a l A w a r e n e s s C o mm i tte e of th e B a h am a s, a g r o u p o f s t a k e h o l d e r s f r o m t h e p r i v a t e a n d p u b l i c se c t o rs w i t h a n inte r e s t in pr om oting t h e s us ta i na bl e d ev el o pm en t o f T he B a h a ma s, h a s a nn o un c e d th e fo cus for the ir c am paig n i n 2 01 1 the eff ec ts th at c l im at e c ha ng e a nd o ve rfish in g h av e on o ur c oa sta l e nv iro nm e n t "C l im ate c ha ng e an d o ve rf i sh in g a re m a j or i ssu e s a f fe c t i ng our co asta l z on es i n Th e B a h a m a s s a i d E a r l s t o n M c P h e e C h a i r m a n o f t h e C oa stal Aw are ne s s C omm itt ee an d Dire c to r, Su stai na bl e D e v e l op m e nt f or th e Mi n is tr y o f To uri sm. "Mu c h o f o ur co un try li es o n l y a f e w f e e t a b o v e s e a l e v e l and stu dies have fou nd t hat sm al l isla nd d ev el op ing st at es su c h a s Th e B a ha ma s are th e m o s t v u l n e r a b l e t o c l i m a t e c h a n g e A r i s e i n s e a l e v e l thr eat ens o ur coas t and o ur islan ds thems elves. Anot her c h al le ng e w e fac e i s o ve rfi shi ng a nd i t is a fa c t tha t w e a re se eing l oca liz ed de ple tion of f i sh r e so u r c e s su c h a s g ro u p e r c o nc h an d lob ster ne ar la rg e p op ula ti on ce nt res. O ur c om m i t te e w i l l f o c u s o n t h e e ff e c t s of climat e change and overf ishi ng a nd wh at w e c a n do as Ba h am i a n s t o h e l p c o m b a t t h es e i s s u e s O u r g oa l is t o e d u c a te t h e p u b l i c a n d t o o f f e r re al sol ution s to pe opl e wh o c ollectively will help us as a de velo ping country and as a t ouri st de stin at ion Thi s y e ar we w il l al s o be vi s i t i n g Ca t Isl an d to wo rk w ith pa rtn ers a n d l o c a l g o v e r n m e n t t o d e v e l o p p r o g r am m es f o r c o a s t a l a w are ne ss i n the ir co mm un it i e s T h e N a t i o n a l C o a s t a l A w a r e n e s s C o m m i t t e e h a s i n c r e a s e d th e n u m b e r o f a c t i v i t i e s s c h e d u l e d f o r A p r i l w h i c h i s offici ally Na tional Coa st a l A w a r e n e s s M o n t h i n T h e B a h a m a s T h e p u b l i c i s i n v i te d t o pa rtic ip at e. Th e C o m mi t te e w i l l ho s t, i n c ol l a bo ra t io n w i th it s s tra t e g ic p a r t n e r s b o t h i n t h e p u b l i c a n d p riv at e sec to rs th e fol low i ng : N a t i o n a l P u b l i c S e r v i c e A n no u nc e m e n t c a m p a ig n s o n t el ev isi on a nd rad io; a c o nti nu atio n o f ha rbour cl ea n u ps; e re ct ion o f ba nne rs thro ug ho u t p a rt i c i p a t i n g i s l a n d s i n Th e Ba h am a s ; p r i m a r y a nd s e con da r y s cho o l com p et it i on s w i th a su bm issio n dea dl in e of M ar ch 3 1 s t ; f i el d t r ip s wi t h D ol phi n En c oun te rs on B lu e L ag oo n I s la nd D i ve S t ua r t C ov e and Bl ac kbea rd's C ay h a v e b e e n a rr a n g e d t o p r o v i d e st ude nt s w ith a n o pp ortu nit y t o le a rn a bou t pro te ct ing th e c o a s t s a n d e n j o y i n g t h e m a r i n e w o n d e r s o f t h e B a h a m a s T h e r e a l s o w i l l b e a n a t i o n a l T S hi rt D ay As this is a nati onal initi at i v e B e a c h c le a n u ps a n d o th e r C oasta l Aw aren ess ac tiv it i e s a r e pl a n n e d fo r t h e i s l a n d s o f A b a co A n d r o s B i m i n i El e u t h e r a Ex u m a a n d C a t Isla nd. T he 201 1 Co as tal A war en e s s C o m m i t t e e i n c l u d e s m embe rs from th e follo win g o r g ani s a tions: M i n i s t r y o f T o u r i s m Bah a ma s En vi r o n me n t S ci ence a nd T ech no lo gy Co mm i s s i o n ( B E S T ) B a h a m a s H otel As soc iation B aha mas N atio nal Tr u s t, B a h a m a s R e e f E n v i r o n m e n t E d uc a ti o n a l Fo u n da t i o n (B R E E F), B ro ad ca sti ng C orp o r a t i o n o f T h e B a h a m a s C o l l e g e o f T h e B a h a m a s D epa r t ment of Env ironme ntal Healt h Ser vic es Depar tme nt o f M a r i ne Re s ou r c es Di v e S t ua r t C o ve Do l p h i n E nc ount ers Ltd., The Na ture C o n s e r v a n c y M i n i s t r y o f E d uc a ti on S c ie n c e a nd Te ch n o l o g y P o r t D e p a r t m e n t, T h e C o lle g e of Th e B a ha ma s, an d The Univ ersity o f The W est I n d i e s O u r c o a s t al a n d m a r i n e r e s o u r c e s h e l p s h a p e o u r natio n's c harac ter and its distin c tiv e pe rson a li ty ," ad ds Mr McP he e. "Al l b en efi c ia rie s of th e t o u ri s m i n d u s t r y m u s t t a k e an intere s t and a ctiv e r o le in c o n s e r v i n g o u r n a t u r a l r e s o u r c e s p a r t i c u l a r l y i n grow ing Sma ll Island D eve loping S tate s (SIDS) like T h e Bahamas. A s w e depe nd on the tourism ind ustr y t he ec on o m ic s u s t ai n ab i l it y o f T he Ba hama s h inge s on our abi lit y t o m a i n t a i n t h e n a t u r a l b eau ty o f t hes e i sl an ds th at at t ra c t s mi l l io n s to o ur s h or es We th ank e ac h of our c orpora te sp o nso rs w ho c o nt in u e t o sup por t an d c on tri bu te to th is w o r t h w h i l e e ff o r t W e a l so a s k th e p u b l i c to p a r ti c i p a t e i n ou r upc oming ev en ts as w e striv e to sustain the na tural b eau ty of th ese island s for o ur soc ioec onomi c w elfa re and th at of our g uests. We a re all in this t o g e t h e r a n d a s o u r m o t t o st a te s If n o t us W h o ? If n o t Now W he n?'" F o r m o r e i n fo r m a ti o n o n Nationa l C oastal Aw arene s s m o n t h v i s i t w w w c o a s t a la w a r e n e ss o rg o r t o b e c o m e a s p o n s o r c o n t a c t E a r l s t o n M c Phe e a t 3 56-6 96 3/6 7/3 8. Co as ta l A w a r en es s Co m m it te e to f oc us ef f o rt s on th e ef fe ct s of cl im at e c ha ng e a nd o ve r f i s h i n g M E ET ING OF T HE M INDS : Me m be rs of T he Na tio n al C oa s t Awa re ne s s C om mi tt e e me e t to d i sc u ss a ct iv i ti es fo r A pr il wh ic h i s Na t io na l C oa s ta l Aware nes s Mon th i n T he Bah ama s. (l-r ba ck row) L este r F lowers, Col leg e of th e Baha mas ; Juli an Reid An cill eno Dav is, Th e N a ture Cons erv a nc y ; Co m m a nd e r P a t ri c k M c N e il Po rt Co n tr o ll e r ; P e te r D ou g l a s M i n is t ry o f T o ur i s m, An d ro s ; a nd T e ri S a n d s M i ni s t ry o f T ou r is m El e u t he r a (l -r mid dl e row) Cha rle ne Care y BREE F; Dora ne ll Swa in Min is try o f T ou ris m, Ab ac o; Ad ria nn a Hutc hi ns on Stua rt Cov e ; Sha rma in De v ea ux M i n is t ry of To u ri s m, Ex u m a ; Va l e n c ia L oc k h a rt M in i s tr y o f T ou r is m ; E a rl s to n M c Ph e e C h ai r ma n of t h e Na t i on a l C o as t a l A wa re n e s s C om m i tt e e a nd the Mini ste r of To uris m. (l-r fro nt ro w ) Ja ne en Bul lard Ba ha mas Na tio nal Tru st; Ke lly Me is ter, Dolp hin En cou nte r s ; T Je nnife r E dwards Bahamas Hotel Association and Jared Dillet, Ministry of Agriculture and Marine Resources. P A Gibson Primary School celebrates Commonwealth Day P A GI BSON P RIMARY : S TUDENT S an d tea c he rs of PA Gib so n Prim ary in Ha tch et Ba y Ele ut he ra are pic tured sharing in Commonwealth Day activities on March 14. P AY IN G A VI SI T : Ne k o G ra n t, M i ni s t e r o f P u bl i c W o rk s a n d T ra n s p or t ( ri gh t) a nd Al v in Sm it h MP f o r N or th E l e ut he r a c ha t d u rin g a v is i t t o Commonwealth Day celebrations at PA Gibson Primary School in Hatchet Bay. Patrick Hanna/ BIS photo

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By ADRIAN GIBSON a jbahama@hotmail.com A S ELECTION draweth nigh, it is anticipated that drama will surely accompa-ny the impending showdown. Indeed, as ham/turkey/dryer/washer season rolls around once m ore, Im hopeful that a more edified electorate will reject political paternalism and demand change demand that the substantive societal/national issues are addressed. Thus far, whilst the FNM party seems slow-footed in a nnouncing its slate of cand idates, the electioneering h as clearly begun as is evid ent by Opposition Leader P erry Christie and his D eputys (Philip Davis ry of Family Island trips conducting what they refer toa s a listening tour. Frankly, as the electoral clock ticks away, there are a few sitting Members of Parl iament who have virtually fallen off a cliff and have literally disappeared in their c onstituencies whilst others a re visionless and/or have a dopted an attitude of entitlement and intolerance.U ndoubtedly, there will be f its of hysteria and much whimpering following this electoral cycle. There are quite a number of politicians who are said to be on the endangered species list marching onward toward t he political gallows. I t is expected that the newly-constituted Bound aries Commission will r edraw some constituency b oundaries using recent census and voter registration data to determine population shifts and, frankly, the f avourable cuts for electoral success. Notably, the FNM must a lso be concerned about its weakening presence in Grand Bahama which con tinues to suffer immensee conomic woes. That said, Ive decided to don my monks garb and a ttempt to read the political t ea leaves, making prelimin ary electoral projections relative to the political oddso f the purported candidates c ontesting seats in the upcoming elections. One must be mindful that this preliminary tallyto be later followed upcomes as ratifications and candidate selection is ongoing and, m oreover, boundaries have y et to be cut. Mano-a-mano, for Dr H ubert Minnis (FNM e lectoral race against oppo nent Jerome Gomez (PLP will be like running against a c upcake. Depending on how far Dr Minnis outruns him at the pollsand its eems that the gap will be wideMr Gomez may needa powerful telescope to even see his opponent. T he doctor has been a stellar MP and a smooth political salesman who actua lly delivers. His challenger i s likely to be politically m anhandled in a horrifying loss that will expose himp oliticallyas a paper tiger. Annihilate PLP MP Obie Wilchc ombe will politically annihilate purported FNM candidate Jeff Butler. Wilchcombe, an oratorically-gifted Parliamentarian, has been as uperb MP and is likely to jettison Mr Butlera grocery store ownerto the political dustbin. P LP candidate Dr Danny Johnson is likely to be shells hocked and in denial after b eing KOd by Desmond Bannister in the Carmichael c onstituency. It is anticipated that Dr Johnsonson of the late MP Oscar Johnson, b rother of former House Speaker Italia Johnson and s on-in-law of the late form er PM Sir Lynden Pindlingwill mobilize the P LPs campaign machine ry/resources in the a rea.That said, Dr Johnson is likely to have recurring nightmares following this election episode. Contrary to recent speculation, Mr Bannister is set to run in Carmichael again although reliable sources inform me that due to pur ported variations of the electoral map that would bea n attempt to cut-out strong polling divisions to save the politically unpopularC harles Maynards seathe considered a run in his home town, North Andros. The reality is that if Mr B annistera strong candid ateloses, for the FNM, the domino effect would probably afflict the entire Southwestern area. Mr Ban nisters electoral outcome could potentially coincide with the outcome of neigh b ouring seats. That said, hes e xpected to at least win his seat. Former MP Leslie Potcake Miller will politically clobber incumbent Sidney Collie in Blue Hills. This race is set to be a car nivorous affair. Constituents assert that Mr Collie has been a resounding disap pointment, malignantly neglecting his constituency and performing abysmally. Any expectancy of Mr Collie winning his seat is comparable to waiting for VAT 19 (liquor Naturally, both parties concede certain seatsfor e.g. Long Island (usually FNM) and Englerston (traditionally PLP)offering second tier candidates who are considered to be sacri ficial lambs who make up the partys frontline numbers. That said, the race for the Long Island/Ragged Island yields an exploitable mis match as incumbent Larry Cartwright faces off against PLP newcomer Alex Storrson of businessman Henry F Storr. Unfortu nately for him, in Long Island, Mr Storr will suffer a humiliating loss. Branville McCartney, depending on his political decisions, could likely retain his Bamboo Town seat. As an FNM, and perhaps even if Mr McCartney becomes an independent, he would be a strong and favoured contender. How ever, if he joins a new party, he will suffer a political death. Currently, Mr McCartney is in a very critical position politically, however he must rid himself of any notion that its normal to be halfpregnantthat is, either hes with the FNM or hes not. Will Mr McCartneys move happen during the BTC debate? Were his recent comments/actions a precursor to what his true intentions are, that is, to sepa rate himself from the pack a nd portray himself as a man with the gumption to s tand against Prime Minister Hubert Ingraham? Is his decision predicated upon the p osition he takes with the BTC debate? In the wake o f the Prime Ministers r ecent remarks relative to a snap election if all FNM M Ps do not support the B TC sale in Parliament, is t he ground now loosening under Mr McCartney? Ive been informed that the Clifton constituency will no longer exist. Moreover, as a result of this con stituency being eliminated, Im told that incumbent MP Kendal Wright will be offered a nomination to contest the Golden Gates seat.I m told that because Mr Wright was raised in the Sunshine Park area of thec onstituency, he should be a natural fit to challenge incumbent MP Shane Gib son. Frankly, barring any o ther happenings, Wright w ho is an uninspiring can didatewill lose to Shane Gibson, who is a political powerhouse in the area and has a diehard support base. The MICAL constituency is being divided into theI nagua and Mayaguana cons tituency and Acklins, Crooked Island and Long Cay, respectively. FNM Senator Dion The Bruiser Foulkes is set to triumph over his challenger in the new Inagua and Mayaguana constituency. Nomination I was told that the likely forerunner for the FNM nomination in Acklins, Crooked Island and Long Cay was Johnley Ferguson. However, that appears to bea moot point now that Mr Ferguson has signed a two year contract as a consultant with the Department of Lands and Surveys. Incumbent Alfred Gray is likely to put a shellacking on his opponent. South Andros MP Picewell Forbes will be wielding a big, electoral tamarind switch for FNM challenger and COB lectur er Zendal Forbes. Although Picewell Forbers may encounter some difficulties if former MP Whitney Bastian nominates as an independent candidate, hes expected to retain the seat with Mr Z Forbes coming a distant third as an also-ran candidate. FNM insiders assert that Carl Bethel has worn-out his welcome in Sea Breeze. However, his uncertain political fortune is depen dent upon the candidate that the PLP settles on running against Mr Bethel. Of late, Hope Strachan Bethels strongest challengerhas been mentioned as a possible replacement for Fort Charlotte MP Alfred Sears who has announced that he will not seek re-election. However, if Ms Strachan remains in Sea Breeze, Carl Bethel will suffer a shel lacking. In 2007, Ms Strachan lost by 60-plus votes after campaigning in the constituency for a mere six weeks. M r Bethel appears out of t ouch with the electorate and, unfortunately, has a m assive risk factor concerning his candidacythat is, the perception that hes a rrogant and egotistical. Moreover, another scen ario discussed is the possib le nomination of lawyer Myles Laroda in Sea Breeze, a pparently the PLPs comp romise for snubbing him in S outh Beach. Frankly, Laroda would be defeated by Bethel. The PLPs best chance of capturing that seat is to leave Hope Strachan as the nominee. No doubt, the PLP would be smart to smack down any inkling to move Ms Strachan to the other side of town. The Fort Charlotte dis t rictno longer being contested by PLP MP Alfred Searsshould be a politicald uel. Sources assert that the boundaries will extend fur ther into Dr Minnis Killarn ey constituency to facilitate a successful run by FNM candidate Vincent Vanderpool Wallace. Im also informed that the recently departed former NDP leader (now PLP Andre Rollins is also vyingf or the nod in Fort Charl otte. There are those who argue that Dr Rollinsa political journeymanlacks the political capital to win a contest. The race for Fort Charlotte could go either way. Brent Symonette will retain the St Annes seat. Mr Symonette, who won nearly 64 per cent of the votes cast in his constituency in the last general election, will handily dispatch any challengers (said to be Billy Nottage or another applicant). Loretta Butler-Turner will banish her challenger to the political wilderness and roar down victory lane in the Montagu constituency. Mrs Butler-Turner won by a margin of more than 68 per cent of the total votes cast in her constituency dur ing the last general electionthe largest margin that year. FNM nominee for St Cecilia Karen Shepherd the former president of the Womens Associationwill be a victim of circumstance. In a traditionally PLP stronghold, Ms Shepherd is a rookie politician whose candidacy reminds me of a wilting candle. Im informed that Ms Shepherd requested to run in St Cecilia since her father James Shepherda member of the Dissident Eight once represented the area. However, from the looks of things, Ms Shepherd could perhaps begin writing her biography, with it perhaps reading I also ran in St Cecilia, etcetera and being filled out during her lifetime. Glenys Hanna-Martin has a strong political wind at her back in the Englerston constituency. The constituency is also a traditional PLP stronghold. See the rest of my predictions in Part 2 of this col umn in tomorrows Tribune. P AGE 8, FRIDAY, MARCH 18, 2011 THE TRIBUNE Election predictions part 1 Y OUNG M AN S V IEW A DRIANGIBSON D RHUBERTMINNIS L ESLIEMILLER B RANVILLEMCCARTNEY I I t t i i s s e e x x p p e e c c t t e e d d t t h h a a t t t t h h e e n n e e w w l l y y c c o o n n s s t t i i t t u u t t e e d d B B o o u u n n d d a a r r i i e e s s C C o o m m m m i i s s s s i i o o n n w w i i l l l l r r e e d d r r a a w w s s o o m m e e c c o o n n s s t t i i t t u u e e n n c c y y b b o o u u n n d d a a r r i i e e s s u u s s i i n n g g r r e e c c e e n n t t c c e e n n s s u u s s a a n n d d v v o o t t e e r r r r e e g g i i s s t t r r a a t t i i o o n n d d a a t t a a t t o o d d e e t t e e r r m m i i n n e e p p o o p p u u l l a a t t i i o o n n s s h h i i f f t t s s a a n n d d , f f r r a a n n k k l l y y , t t h h e e f f a a v v o o u u r r a a b b l l e e c c u u t t s s f f o o r r e e l l e e c c t t o o r r a a l l s s u u c c c c e e s s s s .

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LOCAL NEWS T HE TRIBUNE FRIDAY, MARCH 18, 2011, PAGE 9 for the Bahamas." M r Schaefer and other business owners in the Prince Charles area have publicly expressed concerns about roadworks being carried out as part of the governments New Providence Road Improvement Project, which they claim is seriously impairing business. Further, media reports yesterday said that on W ednesday night the Robin Hood store, locat ed on Tonique Williams Darling Highway, was raided by customs and police officers whena significant amount of computer equipment w as confiscated. Speaking with The Tribune in an earlier interview Mr Schaefer said he was shockeda nd taken aback by the Prime Ministers statement. H e responded: "I am profoundly saddened by what can only be characterised as a personal attack on myself and my family and would prefer to assume that in the heat of the moment Mr Ingraham simply misspoke." Mr Mitchell and Mr Pinder in their state m ent allege that Mr Ingraham is going against what he preaches in using threatening remarks against a permanent resident and foreign investor which he previously claimed his g overnment would never do. It said: "It certainly appears that opponents o f the government can face the wrath of the P rime Minister if they dare criticise the work of his administration. Calling for Mr Ingraham to withdraw his s tatement the opposition also encouraged the P rime Minister to "disassociate himself from this behaviour and give a full, frank and truth ful explanation to the public." b een quietly carrying out for the past month and a half. He said Customs was dissatisfied with documentation that it h ad been given by store own er Sandy Schaefer over a peri od of time. We were doing our investigation quietly, said Mr Gomez, that is why we went to the store at closing time.W e had no intention of making any decision or statement until we had satisfied our selves of our facts. It was not until this morning (Thursday when a reporter called to ask me whether the raid was the result of what the Prime Min ister had said that I even knew that he had said any thing. Mr Gomez said that over a period of time Customs had dealt with at least seven Robin Hood shipments in which all goods being import e d were either not declared or the documents were unsatisfactory. It was suggestedt hat invoices might have been t ampered with. Unable to get what they considered satisfactorya nswers from Mr Schaefer, Customs officers had on an earlier visit taken computers from the store for investigation, he said. It was decided that a more in-depth investigation had to be made into the stores computer system. Acting on information they had received, a Freeport Cus toms officer confiscated a lap top from a person of interest, which led them to the computers main server at the Harrold Road office. It was that server that was among items taken in Wednesdayn ights raid. Mr Gomez said that in the next few days this documen-t ation will be carefully studied b efore any decision can be made. He wanted to emphasise t hat there was absolutely no connection between what the Prime Minister had said earlier that day and the Customspolice visit to the store that night. It was purely coincidental, Mr Gomez said. SEE BUSINESS FOR MR SCHAEFERS COMMENTS in the House of Assembly. The areas current Member of Parliament, attorney A lfred Sears, has formally a nnounced that he will not c ontest the seat in the 2012 general election leaving it open for other would-be candidates to declare thems elves. A s the newest political front-runner in the party, D r Rollins said that his a pplication would first have t o be accepted by the areas branch before it could be forwarded to the partysC andidates Committee for further consideration. As the former leader of the National Development Party, Dr Rollins stressed that his decision to join the PLP came with no prec onditions or offers of any k ind. He stressed that at no time was any seat promised h im or offered. I joined the PLP with no preconditions. I believe the party has been very fair to me, he s aid. Dr Rollins said that he has met with Mr Sears who has informed him that he will not be endorsing any candidate ahead of the Branch independently deciding who they would l ike to represent them g oing forward. Mr Sears leaves behind s ome very big shoes to fill. I t would be an awesome opportunity and I am very l eased again with the whole o pportunity to continue to m eet with the people in the area and we will where the process leads. A t this time, Dr Rollins said that he is busying himself by meeting and getting to know people in the Fort Charlotte area. I think this next campaign is really going to be f ocused on the future and b e an issued based camp aign and we really need t o try and appeal to the the Pindling administration Dr Elwood Donaldson. Trade union leaders and former BTC CEO Leon Williams a ttended the public forum. The group plans to hold prayer meetings in Rawson Square tomorrow and Saturday night. When Parliament meets Monday morning to debate the controversial sale of BTC to Cable & Wireless Communications the group along with others critics of the deal are expected to protest outside the House of Assemb ly. Still, some FNM Parliamentary caucus mem bers are unsure how Bamboo Town MP Branville McCartney who has publicly stated his indeci sion over the sale will vote. "There are no FNM Parliamentarians who will vote against the BTC sale with the exception of Branville McCartney, our caucus is 100 per cent in agreement for the sale with that one exception. "He has not indicated that he will vote against it, he has not said that to any one within the Par liamentary group, but he has said that he has to make up his mind so I guess we will have to wait and see," said a Parliamentarian who did not want to be named. Members of the House of Assembly are expected to debate the controversial $210 million sale of BTC to London-based telecommunications provider Cable & Wireless Communications on Monday. A vote in Parliament is the last step before the sale can be finalised. Prime Minister Hubert Ingra ham this week said if his government loses the vote in Parliament he will see it as a vote of no confidence and call an early election. There are 24 FNM MPs in the House to the PLP's 17 and if Mr McCartney votes against the bill only three more FNMs are needed to break ranks along with him for the government to lose the vote. FNM Chairman Carl Bethel said the prime minister's words do not mean there is brewing dissent within the ranks of the governing party. "I have no information that any FNM MP plans to vote against the sale, people may speculate but no one has indicated to me anything to the contrary. I don't regard that as my duty to seek to hustle MPs or lobby them (because end of the day all Parliamentary members of the Free National Movement are aware of their duties to the country and the party," said FNM Chair man Carl Bethel yesterday. Mr Bethel added that at the party's most recent caucus meeting, all Parliamentarians Mr McCartney was not present were supportive of the government's agenda. Meantime, the FNM insider added that while Mr McCartney has said he had to canvass his voters for feedback before deciding how he will vote on the BTC deal, the former state immigra tion minister will most likely vote with the party to retain his constituency. "I think Branville wants to run (in the next election) as an FNM candidate. In my view he cannot win Bambo Town unless he is an FNM. Bamboo Town is an FNM constituency and has been for several decades. The FNM branch (of Bamboo Town) is strongly supportive of the prime minister and the sale of BTC, (Mr McCartney's) chairman and his council representative announced that they are supporting (the sale Earlier this week, the prime minister explained that in his party's Manifesto of 2007, the FNM list ed the privatisation of BTC as one of its election commitments. With every FNM Member of Parliament having run and won on this Manifesto, Mr Ingraham said that they have likewise adopted and com mitted themselves to that policy. p laint against the Lyford C ay Property Owners A ssociation with the Commissioner of Police. Up to press time, Marvin Dames, deputy commissioner, said thatt he organisation was n ot in receipt of such a complaint. In a press statement, Keod Smith of Commercial Law Advocates said that the actions oft he hired security were t he latest in an ongoing conspiracy against the Canadian expats reputation. It was stat-e d that Mr Nygard, his s taff, and professional associates, now feared for their safety. M r Smith said: This campaign against Mr Nygard has now risent o the point where e mployees of Mr Nygard are being approached with offers of financial inducements to make false criminal allegationsa gainst Mr Nygard. Mr Smith added: We believe that this is being done so as to convince at least one Cabinet Minister of the G overnment to make a n unfair drastic recommendation against Mr Nygards status int he Bahamas. Mr Smith said that t he International Fashi on House businessman h ad been a law-abiding citizen in the Bahamas for more than 30 years.H e said he was a man who contributed generously to national sporting, cultural, and edu c ational activities. you that URCA is carrying out an investigation to determine whether Bartlett-McWeeney Communications Limited as operation a radio broadcasting station, namely Gems 105.9 FM (GEMS of the provisions of Clause 12 of the Interim Code of Practice for Broadcasting Content (Interim Content Code In order to carry out this investigation, URCA hereby requires Bartlett-McWeeney Communications Limited to permit URCA, pursuant to Clause 11 (4 Content Code, to inspect the original recording of the entire t y of programmes hosted by Mr Steve McKinney and as broadcast on GEMS on February 24, March 9 and 10, 2011. GEMS is a lso hereby notified that such recordings may be required by URCA. The notice said Vincent Wallace-Whitfield will be conducting the investigation on behalf of URCA, and would visit GEMS yesterday. The statement, signed by U RCA director of policy and regulation Kathleen RiviereSmith, said: URCA looks forward to the usual co-operation from Bartlett-McWeeney Communications Limited/Gems 105.9 Radio Station in all matters of mutual interest. Mr McKinney, and repre sentatives from BartlettMcSweeny Communications Limited, the parent company of Gems Radio 105.9FM, could not be reached for comment up to press time. FROM page one FNMs not expected to break ranks over BTC FROM page one Dr Andre Rollins applies to be PLP candidate for Fort Charlotte Customs raid on Robin Hood had nothing to do with PM comments FROM page one PLPs blast PMs personal attac FROM page one DRANDREROLLINS FROM page one URCA SET TO INVESTIGATE STEVE MCKINNEY SHOW FROM page one h opes and dreams and aspir ations of the Bahamian p eople. And I dont take that lightly. I dont intend to focus or harp on the past of what o ne party did or didnt do. I w ant to see this country m ove forward and on the constituency level I will focus on building the strongest constituency I can build, he said. CALL FOR RELIGIOUS COVER AT PRAYER VIGILS AHEAD OF BTC DEMONSTRATION PETER NYGARD ISSUES CEASEA ND DESIST LETTER F ROM page one

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SECTIONB business@tribunemedia.net FRIDAY, MARCH 18, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held r esponsible for errors and/or omission from the daily report.$ $4.78 $5.12 $4.72 secure future leave your children nancially secure provide a safety net for your loved ones ensure a bright future for your familyall of the above A MBESTA-ExcellentFinancialStrengthRating call us today at (242396-1300 A SUBSIDIARY OFNASSAU I FREEPORT I ABACO I ELEUTHERA I EXUMA I FINANCIAL CENTRE I CORPORATE CENTRE I www.famguardbahamas.com By NEIL HARTNELL Tribune Business Editor A government minister yesterday said he was very comfortable with where the Bahamas was in fulfilling its Economic Partnership Agreement (EPA Tribune Business that a leading CARICOM official had praised this nation for having one of the clearest and most complete imple mentation plans. Zhivargo Laing, minister of state for finance, told this newspaper that comments by an official of CARICOMs EPA Imple mentation Unit, suggesting that the Bahamas was in danger of being unable to maximise potential benefits from the trade agreement with the European Union (EU not have an implementa tion plan, must have come from someone unaware of what we are doing. Referring to a conversation he had with the Units Bahamas has one of best implement plans for the EP A Minister very comfortable with nations progress in meeting trade deal obligations* Export duties non-issue as already stopped levying them Laws must be changed to reflect on-ground reality ZHIVARGO LAING SEE page 5B By NEIL HARTNELL Tribune Business Editor B ISX-listed Consolidated Water yesterday said it expecte d to take on an extra $2 million in debt to finance the 67 per cent capacity expansion of its Blue Hills reverse osmosis plant, amid expectations the Water & Sewerage Corporation will reduce the $6.2 million owed to it to a balance of days outstanding. U nveiling the companys financial results for the year to end-2010, Rick McTaggart, Consolidated Waters chief e xecutive, said the new section at the Blue Hills plant, whose capacity will grow from 7.2 million gallons per day to 12 million gallons per day, would begin t0 produce water in October 2011, immediately following construction completion. BISX-listed firm adds $2m debt for expansion Consolidated Water expecting government to r educe Water & Sewerage Corporations $6.2m debt to it to balance of days outstanding 67% Blue Hills expansion to start producing water by October* Firm gains from energy pass through in 2010 Q 4, with maintenance boost expected in 2011 SEE page 2B By NEIL HARTNELL Tribune Business Editor C olina Holdings ( Bahamas), the BISX-listed insurance holding com-p any, suffered a collective $ 674,649 net loss on its investments in two associate companies, Walk-In Holdings and the mergedA nsbacher/Sentinel Bank, its year-end 2010 accounts have revealed. T he figures show the life/health insurer sustained a $260,297 net loss a s a result of its 30 per cent stake in Walk-In Holdings, the private company that o perates and owns the t hree Walk-In Clinics of the same name, an interest it acquired for $3.403 million in November 2007. For the 12 months to endD ecember 2010, Walk-In H oldings generated $5.564 million in revenues, an increase upon the previousy ears $4.587 million. Howe ver, the company suffered a more than $1.4 million Colina suffers $675k net loss over Walk-In, bank interests SEE page 5B By ALISON LOWE Business Reporter alowe@tribunemedia.net Average savings of between 5 to 15 per cent for Bahamian companies on US ground trans portation costs were touted at a seminar hosted bya Bahamian logistics company, which yesterday said it will soon be helping one major Bahamian importer to save over $260,000 a year. Express cargo and courier provider, New Level Logistics held a seminar at the British Colonial Hilton in downtown Nassau where it introduced around 25 Bahamian business representatives to its third party logistics partners based in the US, which it says will in many cases enable Bahamas businesses to significantly cut their shipping costs to this nation. The offer of access to online software called a Transport Management System, which offers companies transparency in the shipping process, where they can maintain sight of their goods, met with approval from many Bahamian importers, who lamented the damage and frustration suffered when goods get delayed without warning. Henry Johns, who runs New Level Logistics with his wife, Marilyn Johns-Smith, told Tribune Business in a previous interview that Bahamian companies are collectively losing "millions of dollars" per year through inflated transportation costs they do not have to pay, something that also results in them paying more import duties/Stamp Tax to Customs than they need to. The 20-year transportation industry veteran, who is the sales and operations manager for New Level Logistics, said Bahamian companies were incurring losses through not having their own discount freight programme in the US. Instead, they are vulnerable to a practice called pre-pay and add. Some US shippers employed by Bahamian companies offer to prepay the freight costs to get their already-ordered products from, say, California, to Florida. These shipping companies will use their own discount freight programmes to truck the goods from California but, in some cases, the shipper would place the non-discounted freight rate on the bill for the Bahamian company. The com5-15% transport savings strategy Bahamian logistics provider signs contract with local importer designed to reduce $1.2m US ground transport bill by 22% or $260k per year SEE page 4B By NEIL HARTNELL Tribune Business Editor Robin Hoods president yes terday suggested he and his family may have to leave the Bahamas, joining his attorney in telling Tribune Business there was clearly an organ ised conspiracy to drive the retailer out of business. He also challenged this newspaper to find someone with a better record than me when it came to making due Customs pay ments. Speaking to this newspaper after Wednesday nights joint Customs/Police raid on Robin Hoods Tonique Williams-Darling Highway headquarters, in which the retailers main server was confiscated and taken away for inspection, Mr Schaefer said he was proud to have made enemies in the Bahamian food/retail wholesale industry through aggressive strategies that forced competitors to lower prices and margins. When youre an agent of change youre bound to make enemies, and I can say Im very proud of the enemies Ive made, Mr Schaefer told Tri bune Business, emphasising that he was not referring to Prime Minister Hubert Ingraham with these comments. Adding that there was clear ly a conspiracy afoot to drive him out of business, Mr Schae fer said Robin Hood had been able to access another server to get its Point of Sale (PoS equipment operational, opening both its Tonique WilliamsDarling Highway and Prince Charles Drive stores at 9am yesterday, an hour later than normal. Without help from Robin Hoods external technology consultants, Mr Schaefer said the two stores would have been closed and 300 employees sent home. He added: When people go on a witch hunt, they will look for the things they want to find. They will find in things the truth they are looking for, which is not the truth at all. There are a lot of things that are manipulated. The reality is that Ive been scrutinised by them [Customs] since I started, so Ive been scrutinised by them for 11 years. In scrutinising thousands of containers, have there been mistakes? Yes, theyve found them sometimes, that Ive overpaid or underpaid in good faith. But, at the end of the day, if you look at the percentage of ROBIN HOOD CHIEF: I MAY LEAVE BAHAMAS Defies anyone to find another business with better record of due Customs payments* Says clearly organised conspiracy to drive him out of business, and proud of enemies made with exception of PM SEE page 4B By NEIL HARTNELL Tribune Business Editor Colina Holdings (Bahamas saw its net income grow by 5.2 per cent for the year to endDecember 2010 to $14.1 mil l ion, building on the 64.5 per cent growth seen the previous year as shareholder equity hit $115.5 million. Unveiling results that showed an increase in income available to common shareholders to $11.3 million or $0.46 per share, Terry Hilts, the companysc hairman, said: As is expected in our industry, and as a result of the nature of our business, profitability will fluctuate throughout the year. We are pleased, however, that overall, our profit for the year has continued on an upward trend. Comprehensive income, which takes into consideration other gains affecting equity, has notably increased from $11.7 million in 2009 to $14.4 millioni n 2010. Operating expenses increased by $3.5 million to $29.9 million year-over-year, reflecting an increase in staff benefits and operational invest ments to enhance policyholder service. Total revenues grew to $152.6 million, an increase of5 .5 per cent over prior 2009. Colina Holdings (Bahamas said gross profit margins in both C OLINA ENJOYING 5.2% PROFIT RISE SEE page 3B

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B USINESS PAGE 2B, FRIDAY, MARCH 18, 2011 THE TRIBUNE 127,&( 6,5/<1'(1,1'/,1*(67$7(6 )250(5/<,1(:22'*$5'(16 ,,%',9,6,21 7KLV1RWLFHVHUYHVWRDGYLVHWKHJHQHUDOSXEOLFWKDWORWV ZLWKLQWKHIROORZLQJEORFNVSXUSRUWHGO\VROGDVORWVZLWKLQ DVVDX9LOODJH IRUPSDUWRIWKH6LU/\QGHQ3LQGOLQJ (VWDWHV6XEGLYLVLRQIRUPHUO\&HGDU*URYHVLQHZRRG *DUGHQV,,fDQGDUHWKHSURSHUW\RI$UDZDN+RPHV /LPLWHG 7KHVH%ORFNVDUH 7KHJHQHUDOSXEOLFLVIXUWKHUDGYLVHGWREHZDUHRISXUFKDVLQJ DQ\ORWVLQWKHDERYH%ORFNVXQOHVVWKHODQGLVGHVFULEHGDV EHLQJLQWKH6LU/\QGHQ3LQGOLQJ(VWDWHV6XEGLYLVLRQDQG LVEHLQJSXUFKDVHGIURP$UDZDN+RPHVOLPLWHGRUIURP D SHUVRQRUHQWLW\ZKLFKSXUFKDVHGIURP$UDZDN+RPHV /LPLWHG2WKHUZLVHWKHVHOOHUVfDUHQRWWKHRZQHUVRIWKH ODQG ,I\RXKDYHSXUSRUWHGO\SXUFKDVHGDQ\ORWVfZLWKLQWKH DERYHPHQWLRQHGEORFNV\RXDUDGYLVHGWRLPPHGLDWHO\ VHHNSURSHUDQGLQGHSHQGHQWOHJDODGYLFHIURP UHSXWDEOHODZUPRUDWWRUQH\ 6KRXOG\RXKDYHDQ\TXHVWLRQVSOHDVHFRQWDFW \ \ T S *(1(5$//(*$/&2816(/ $5$:$.+20(6/,0,7(' 3 1$66$8%$+$0$6 BY SIMON COOPER RES SOCIUS A Central Bank report r eleased on Friday, March 11, confirms that our domestic markets continued on t heir recovery path in January. This was aided by improving circumstances prevailing in the global economy beyond our shores,a nd some local initiatives, too. The better news reported for our islands included moderate growth in our tourism sector, and a stable rate of new building construction. O ther noteworthy remarks made by the nations bank included the fact that the fiscal deficit remained a matter of concern ( the uptick is not yet broadly based), and n ews of a welcome cash injection in the f orm of Stamp Tax associated with the sale o f the Bahamas Oil Refining Company ( BORCO). L ooking back to 2010, the Central Bank again noted an increase in overall tourism, partly on the back of a US recovery, but also partly thanks to several public-private sector initiatives. At least some Bahamiansc an claim credit for their own initiative in helping encourage a healthy growth in s topover arrivals by air or sea. Deficit As mentioned, our nations deficit w idened by 22 per cent or $38.9 million in the first six months of the 2010-2011 fiscal year. This means that we continued overs pending despite all the austerity measures introduced. As a nation we are still not cutt ing our clothes according to our cloth, and w e may have to pay heavily for this indis cretion in due time. The modest increase in consumer lending that the Central Bank reported wasm ainly attributed to debt consolidation and increased use of credit cards. On the upside, net repayments for land purchases, home improvements and miscellaneous purposes were well balanced. This means that the wheels of our economy are turning, not falling off as some would claim. The Central Bank continues to anticipate growing momentum in the domestic econom y, thanks largely to our strengthening t ourism sector and associated construction p rojects. Consequently, employment p rospects are expected to improve as well, a nd with that more good news for all. W hat does this mean to me as a Bahamian resident and businessperson? What role should I play in helping to turn the tide, and how should I capitalise from this in business, too? I believe that what we need are more private sector initiatives, and fewer hands held out for government assistance, w herever this is possible. This does not mean that we have to wait for others to come and build our Bahamas either. Small contribut ions are equally important, and I know of m any businesses already preparing for more r ecovery towards the end of what will be a better year. N B: Res Socius was founded by Simon Cooper in 2009, and is a Business Brokerage authorised by the Bahamas Investment Authority. He has extensive private andp ublic SME experience, and was formerly chief executive of a publicly traded invest ment company. He was awarded an MBA with distinction by Liverpool University in2 005. Contact him on 636-8831 or write to simon.cooper@ressocius.com. Private sector must drive the recovery SIMON C OOPER Mr McTaggart said Consolidated Water also earned a small gain from energy pass-through charges in itsB ahamian operations during t he 2010 fourth quarter, a sharp contrast to previous years, when the BISX-listed company had incurred extra fee costs as a result of energyi nefficiencies in its operations. A nd he added that new d iesel engine maintenance programmes being implemented at the Blue Hills and Windsor plant during 2011 should yield benefits for thec ompanys Bahamian operat ions this year. Analysing the implications of the January 2011 contract award from the Water & Sewerage Corporation, David Sasnett, Consolidated Watersc hief financial officer, told a conference call with Wall S treet analysts: With the recent expansion of the Blue Hills plant in the Bahamas, we would estimate incurring $ 2 million in incremental debt to fund construction of this project. M r McTaggart, noting that the Blue Hills expansion would by itself increase the combined water production of Consolidated Waters 15 plants in the Caribbean by 21 p er cent, said: The plant was c ommissioned in January of this year, and with the expansion of capacity we receiveda n extension of the water sales agreement to 2031. We are proceeding rapidl y to meet a very tough cons truction deadline, and expect to begin producing water from the expanded section t his October. In its 10-K annual report, filed yesterday with the USS ecurities & Exchange Comm ission (SEC obligations as a Nasdaq-list ed stock, Consolidated Water e xpressed hope that the Water & Sewerage Corpora tions outstanding debts owed t o it would soon be largely settled, noting the Governm ents mid-year Budget announcement that some $8.8 million in taxpayer funds was being reallocated for such a purpose. As of December 31, 2010, Consolidated Water-Bahamasw as due approximately $6.2 m illion from the Water & Sewerage Corporation, Consolidated Water said. We have been informed previously by representatives of the Bahamas government t hat the delay in paying our a ccounts receivables is due to operating issues within the Water & Sewerage Corporation, that the delay does not reflect any type of dispute with us with respect to the a mounts owed, and that the amounts will ultimately be p aid in full. P ayment Based on our January 2 011 meeting with officials of t he Bahamas government, we believe the Bahamas government will make a payment in t he near future to reduce Consolidated WaterBahamas receivable balancest o approximately 90 days outstanding. It appears that the delinquent accounts receivable owed by the Water & Sewerage Corporation have held up C onsolidated Waters efforts t o obtain performance bonds for its Blue Hills and Windsor plants. On August 1, 2009, a performance bond with the Royal Bank of Canada in Nassau, B ahamas, in the amount of $1.911 million for the Windsor plant expired and was not subsequently replaced. We e xpect to obtain performance bonds for the Windsor and Blue Hill plants once Consol i dated Water-Bahamas has r eceived payment of its delin q uent accounts receivable from the Water & Sewerage Corporation, the report to the SEC said. With regard to the Blue Hills expansion, Consolidated Waters 10-K report said: Under the terms of the a mended agreement we are required to increase the production capacity of the Blue Hills plant to 12 million US gallons per day on or before September 30, 2011. After the expansion is c ompleted, we will be required to deliver, and the Water & Sewerage Corporation will be required to purchase, a minimum of 52.5 million US gallons per week. The t erm of the water supply agreement will be extended a t the date that the expansion is completed for a period of 20 years, or until the plant hasd elivered approximately 66.9 billion US gallons of water, whichever occurs later. Meanwhile, looking back on 2010, Mr McTaggart told Wall Street analysts yesterday: In our Bahamas opera-t ions we continue to benefit from reduced energy costs resulting from improved oper-a tional performance. We received a small gain from energy pass through chargesi n the fourth quarter, in cont rast to the charges weve incurred in the past. We will implement further d iesel engine maintenance programmes that we believe will significantly reducem echanical breakdowns and m aintenance costs. We are very optimistic this will yield b enefits for the Bahamas operations this year. Consolidated Water said it supplied three billion gallons o f water to the Water & Sew erage Corporation in 2010 from its Blue Hills and Windsor plants, down slightly from 3.1 billion in 2009. BISX-listed firm adds $2m debt for expansion FROM page 1B

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By ALISON LOWE Business Reporter alowe@tribunemedia.net A tremendous amount of information of relevance to a wide variety Bahamian profes sionals will be shared over fourdays when the Bahamas hosts the 19th World Conference of Banking Institutes for the first time, one of its organisers saidy esterday. Coming together on the theme of Creating a progressive financial services environ ment, delegates from the Bahamas and 14 other countries are meeting at the Atlantis resort from March 20-23 to discuss issues related to financial services and the training of professionals within the sector. Among those countries represented are: Korea, Botswana, Jamaica, the UK, Scotland, Nigeria, Hong Kong and Cana da. Prime Minister Hubert Ingraham and Central Bank Governor Wendy Craigg will address the conference, along with other distinguished speakers from the Bahamas and elsewhere. Trust, accountability, competence and innovation are the buzzwords. I feel these are innate qualities every Bahami an should possess to empower themselves, Peggy Knowles, deputy manager of corporate affairs at the Securities Com mission of the Bahamas and thec onferences chairman, told Tribune Business. She invited all Bahamians to register to attend the event. The Bahamas Institute of Financial Services (BIFS hosting the conference, which is sponsored by the Royal Bank of Canada. B IFS provides training and education for Bahamian professionals and, according to Kim Bodie, executive director of the Institute, the ability for Bahamians to learn from what banking institutes elsewhere in the world are doing to better prepare their professionals will be a major benefit arising from the four day meeting. There will be the opportunity to network with our counterparts, to hear what is going on in their jurisdictions, how they are dealing with challenges in their industry and what types of new training programmes they are introducing to keep their employees abreast of competitive markets. We are very small, and these people will be coming from large industrialised countries, so we can all learn from them, said Ms Bodie. Nathaniel Beneby, Jr., presi dent and country head, RBC Bahamas, said: This is a major conference within the global banking industry. By sponsor ing this event, we are support i ng both the Bahamas Institute of Financial Services and the international delegation of banking executives who will be visiting the Bahamas to attend the conference. Close to 200 international and local delegates are regis tered for the event to date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t$ELOLWLHV 0XVWEHDEOHWRVSHDNUHDGZULWHDQGXQGHUVWDQGWKHSULPDU\ODQJXDJHVf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t([SHULHQFH +LJKFKRRORUHTXLYDOHQWHGXFDWLRQUHTXLUHG%DFKHORUV'HJUHHSUHIHUUHG )RXUWRVL[\HDUVH[SHULHQFHLQ)URQWIFH+RXVHNHHSLQJ*XHVWHUYLFHVLQFOXGLQJ DWOHDVWIRXU\HDUVVXSHUYLVRU\H[SHULHQFHUHTXLUHG 4XDOLHGDSSOLFDQWVDUHLQYLWHGWRYLVLWRXUZHEVLWHRUHPDLOUHVXPHVDW VQEUMREV#VKHUDWRQFRP 1RWH$OOLQIRUPDWLRQZLOOEHKHOGLQVWULFWHVWRIFRQGHQFH 'HDGOLQHIRUDOODSSOLFDQWVLV the life and health divisions remained healthy, keeping pace with the increased revenues in 2010 due largely to improved net investment returns, management of administrative costs associated with claims, and appropriate adjustments for risk exposures. We evaluate and structure our investment portfolio to deliver sustainable long-term returns based on market opportunities, said Mr Hilts. The companys investment portfolio saw an increase in net investment income to $29.5 million compared to $27.8 million in the prior year. This increase was achieved due to improved returns on a larger invested asset base. Invested assets increased by $12.3 million to $421.3 million, compared to $409 million in the prior year, and remain a significant proportion of total assets at 80.2 per cent. About 35.2 per cent or $148.5 million of invested assets are invested in Bahamas Government Registered Stock. The balance of investments, none of which exceed 17% of the invested asset portfolio, is invested largely in fixed deposits, listed equities, preference shares, investment property, mortgage loans and policy loans. Colina Holdings (Bahamas to $115.5 million, an increase of $12.2 million over the prior year. Ordinary shareholder equity increased to $77 million, compared to $70.3 million in 2009. The Minimum Continuing Capital and Surplus Requirement (MCCSR was 197.9 per cent at December 31, 2010. This indicator increased from 179 per cent at the end of 2009. Looking ahead, we are very optimistic about the future, said Mr Hilts. We have grown revenues and investment yields, and stayed true to our disciplined focus on risk management. We will continue to bring an intense focus to executing our growth strate gies, enabling us to meet the expanding financial needs of our customers. C OLIN A ENJOYING 5.2% PROFIT RISE FROM page 1B By ALISON LOWE Business Reporter alowe@tribunemedia.net The Bahamas Communications and Public Officers Union (BCPOU grounds for further legal action to impede the Bahamas Teleccommunications Companys (BTC tions (CWC allow its appeal against an earlier Supreme Court ruling that threw out the unions attempt to stop the transaction. In the meantime, Bernard Evans, BCPOU president, said the union has been turning down requests from CWC to meet with the company to discuss the way forward for BTC. We dont need to talk to them yet, he said. Mr Evans yesterday addressed the Rotary Club of West Nassau on the topic of BTCs impending sale to CWC, which the union he heads has led opposition against. He reiterated previous statements that the BCPOU is not against privatisation and liberalisation of BTC and the telecoms sector in the Bahamas, but that believes privatisation of BTC should see it sold to Bahamian buyers. He said the union does not have a personal vendetta against CWC, but has obtained information from labour counterparts elsewhere concerning its dealings with unions, declines in business in the face of competition from other tele-c oms providers in Caribbean jurisdictions where it also operates, and the high turnover of executives. Ultimately, when pressed about what arrangement he would accept, Mr Evans said he does not believe BTC would be better off with any major or minor partner other than a Bahamian one. Admitting there is merit to the argument that if a foreign competitor was to enter the Bahamas in a liberalised telecoms environment, BTC would not be adequately prepared to withstand the competition without a foreign partner with the purchasing power, research and development capacity and technical know-how, Mr Evans said this holds no water for him as an argument for bringing in a foreign partner for BTC. I can see there would be concerns about a Bahamian company competing with a giant. But all companies who get a license should be Bahamian. By all means, if your intention is to b ring in a Digicel, then by all means bring in a foreign entity to compete with Digicel if thats the environment you want to set up. But if you want Bahamians to compete with Bahamians then theres no need, he suggested. The BCPOU is now awaiting a final verdict from the Court of Appeal on whether it will allow the unions appeal against Supreme Court Justice Neville Adderleys February ruling that rejected the unions claim the Government did not have the right to sell BTC, on the basis that the unions did not have the legal standing to bring the suit. If the Court of Appeal rules we do have standing, it will also rule on the same day that we can seek injunctive relief. That would then allow for us to go back to the lower court for the hearing to be heard, and for an injunction on the sale of BTC to take place until we get that relief. So thats what we are hoping for, said Mr Evans yesterday. Should this not occur, Mr Evans said the union believes it has a good case for further legal action to impede the sale. Theres something amiss with what happened in 2002. BCPOU stands for public officers; BTC is a private entity. How can you have a public officer work for a private entity? Its a valid question. That is a concern. And BaTelCo, by the way, is not dead from a legislative standpoint. Even though it has been stripped of its assets it is still on record as a living entity, Mr Evans said. That is whom we have our employment ando ur contracts with. It is a public entity. That makes us public officers, so there is a real, real legal and constitutional problem there that needs to be resolved. Maybe when it changed from a corporation to a company there shouldve been some separation, some notification. Maybe some benefits that were owed to me and due to me as a public officer then shouldve been provided, but they were not, so here we are. However, the BCPOU president also stated that if the BTC sale goes through, he will work with CWC unless his membership, the BTC workers, tell him otherwise. If the sale goes through it would be devastating, very, very devastating. But we will have to deal with the matter then. We would have to talk with them. But well see what our people tell us...if our people tell us they cant work for Cable and Wireless then thats a major, major issue. Well have to comply (with the memberships w ishes), he added. Union eyes further BTC legal actions CONFERENCE TO BOOST BAHAMIAN BANKERS

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pany would only see a single cost on the invoice for total transportation costs, freight and shipping, and had no way of working out the former costs. Marvin Switzer, chief operating officer of C2C Logistics, New Level Logistics (NLL third party logistics carrier in the US, explained that out of to 50 analyses conducted of freight moving into the Bahamas since last July, it was discovered that the importer could through negotiating agreements with carriers with which it has relationships achieve an average reduction in the cost of the ground transportation involved of between 5 per cent and 15 per cent. C2C Logistics said it needed information from Bahamian companies on what they are having shipped, in what quantities and from which regions in the US. It then presents this information to carriers with whom it has relationships, and seeks to find the most costeffective option for shipping the Bahamian importers goods. In some cases, the company can negotiate a fuel rate, allowing this often fluctuating cost to be fixed. C2C Logistics suggested its history in the industry and relationships with US carriers allow it to negotiate better shipping arrangements and costs than buyers would get if they simply ask their suppliers to ship the best way they can. When you say ship it the best way, youve totally lost control of one of your biggest expenditures the shipping part. The ground transportation all the way from say, the middle of America, to Miami. Thats where we come in, said Mr Switzer. Weve done a number of studies since probably July of last year regarding the Bahamas, and we usually find we can create savings of between 5 to 15 per cent depending on what your transportation spend is. Depending on what your annual spend is, thats a lot of money you can put back into your company and your economy here in Nassau. While the company charges a one-off consultancy fee for analysing Bahamian companies data to determine what savings could be procured, later costsw ould not be felt, said Mr Switzer, as C2C Logistics would be compensated out of the savings we get from the carrier, not disturbing the client at all. Mr Johns said: Because my background is in transportationi n the US, I have found a niche that can empower people in the B ahamas, who may not know what the US industry is about and how it has been taking advantage of the offshore and Bahamian merchants and the society at large. Mr Johns said the service New Level Logistics is providing will not only help many companies save money on transport but also give them more options on where they can buy goods from. We have some Bahamian companies who only buy in Florida. They may not realise that they have the chance now to have options to find suppliers elsewhere and have a transportation provider. Because of pre pay and add in the offshore market, Florida merchants are not necessarily going to be the lowest price in providing to you. They have to charge money to get all their suppliers under one roof, Mr Johns said. That transportation price will be passed on to Bahamian merchants, and then they will stack or add a higher rate of transportation in the unit price of the goods and the merchants wont know the differenceu nless they have their own (discount freight program). Highlighting the cost-savings New Level Logistics and its partners can achieve, he said the company was yesterday due to sign a contract with a largeB ahamian company which has annual average US ground t ransportation costs of $1.2 million. We have provided an analy sis for them, in terms of the bid process that goes ou. This Bahamian company had 10 companies that wanted to part icipate in the bid, and so we will be saving this company 22 per cent of their ground transportation costs per year as a result. The customers expectation was hoping that we could do 10 per cent. Now they are looking to move to the consolidation and the ocean portion o f their costs, said Mr Johns. Virginia Strapp, buyer/purchasing officer for the Nassau Airport Development Company, said she felt the seminar opened up our eyes to a lot of things that goes on behind the scenes that we are not privy to from our suppliers. I think it could lead to some savings. They are familiar with the suppliers, the trucking agents and all that, so they can deal with them better than we can. Plus if they can alleviate some of the issues about where packages are, tracking and so on, that would really help, she a dded. Seminar attendee Shenicia Williams, of Commonwealth Building Supplies, said she was particularly keen on the fact that New Level Logistics offers a chance for clients to track their goods. Thats an issue for everyone. Sometimes you cant track packages. So from the point of ordering to your consolidators, if you know whats up with the cargo then you will be able to translate a better timeframe to customers. As it is we have to wait until it gets to Tropical to see when we might get it. So I think well do the analysis and try it; that cant hurt, she said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t$ELOLWLHV 0XVWEHDEOHWRVSHDNUHDGZULWHDQGXQGHUVWDQGWKHSULPDU\ODQJXDJHVf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t%HYHUDJH4XDOLFDWLRQVt([SHULHQFH +LJKFKRRORUHTXLYDOHQWHGXFDWLRQUHTXLUHG%DFKHORUV'HJUHHSUHIHUUHG 0LQLPXPRIWZR\HDUVH[SHULHQFHDVDRXV&KHILQDKLJKHQGKLJKTXDOLW\ RSHUDWLRQ4 XDOLHGDSSOLFDQWVDUHLQYLWHGWRYLVLWRXUZHEVLWHRUHPDLOUHVXPHVWRVQEUMREV#VKHUDWRQFRP1RWH$OOLQIRUPDWLRQZLOOEHKHOGLQVWULFWHVWRIFRQGHQFH'HDGOLQHIRUDOODSSOLFDQWVLV FROM page 1B 5-15% transport savings strategy the millions and millions [in duties] Ive paid over the last 11 years, which Im sure are in the tens of millions, the fines Ive received from them for thousands of containers never exceeded $10,000. Even if that number was ten times that amount, I defy you to find someone with a better record than that. Tribune Business sources close to the matter yesterday said Robin Hood had come under par ticular scrutiny from Customs over the last two months, which appears to now have been supplied with information and told where to look. It is understood that Wednesday nights raid was intended to secure information and evidence in an investigation into whether the retailer has evaded paying due taxes by supplying Customs with invoices that under-value goods being imported. The Customs/police action is also likely to delight Robin Hoods direct competitors and the wholesale industry, many of whom have in the past expressed concern to Tribune Business about how the retailer was able to sell products at prices much lower than theirs. In some cases, its con sumer prices were the wholesale prices rivals were paying. Several informed sources have suggested that Mr Schaefer has brought much of this on himself, especially with his outspoken comments in the media, where he has repeatedly tweaked the noses of rivals and the wholesale industry in particular. When it comes to the latter, the Robin Hood president has repeatedly said he purchases 95 per cent of his produce direct from abroad, cutting out the middleman and threatening the wholesale-retail model in the Bahamas. His com ments, and operation, have been seen as a threat to the establishment. Tribune Business was made aware from wholesale sources late last year that there was a collective move in the industry to effectively put Mr Schaefer in his place, with a lobbying effort underway to convince the Government through Customs and Immigration etc to clamp down on what they claimed were his unorthodox business practices. However, Mr Schaefer said: Ultimately, this is terribly sad for me. I came here with a dream, the dream to allow the little guy to afford things h e was not able to afford. I came into the food business three years ago, and this is not spin, but food prices have gone down rather than up over that time because of the pressure weve put on the competition. People feel Im the trespasser, I have no right here, Im bucking the trend, fighting the institu tion........ Referring to the Prime Ministers remarks about him, and his past as an Olympic l evel wrestler, he added: Hes picking on the wrong guy. Im a fighter, all my employees are fighters, every family that depends on us are fighters. At this point, I will do everything in my power to make sure we serve the Bahamian community as we have done. Yet Mr Schaefer also said of himself and his family: Were at complete peace, but we mayh ave to leave the Bahamas. It would be an extraordinarily bad day for us, not one we would choose, but so be it. At the end of the day, we would probably have to leave here with pretty much what we came with, which is not a lot, but we would have no problem with that. Mr Munroe, meanwhile, said he had written to Customs yesterday questioning the legal basis on which it had seized Robin Hoods main serv er, plus every CPU flash drive, CD and some accounting files from the companys administra tion unit. Questioning whether Robin Hoods competi tors were treated in this manner by Customs, Mr Munroe said he had offered, on the companys behalf, to allow the Department to take copies of the records it wanted to investigate. Describing Customs actions as foolishness, Mr Munroe said he had also urged the Department to return everything that had been taken, since it would have had time to copy the data. He added that he was seeking a reply from Customs by end of business yesterday afternoon, but it could not be confirmed whether this had hap pened. ROBIN HOOD CHIEF: I MAY LEAVE BAHAMAS F ROM page 1B

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swing into the red, incurring a net loss of $867,658 com pared to a $579,951 profit the previous year. As a result, Colina Hold ings (Bahamas earning a $173,985 profit oni ts 30 per cent investment in 2009 to a $260,297 loss lasty ear. Still, with Walk-In Holdings possessing total assets and liabilities of $8.309 million and $3.677m illion respectively, giving it net assets of $4.631 mil l ion, the insurance holding companys investment in the company is still in the black. Holding a $1.389 million share of Walk-In Holdings balance sheet, Colina Hold ings (Bahamas end accounts show that with $2.233 million in goodwill added, in the total value of its investment is now $3.622 million a more than $200,000 increase on the price paid for its 30 per cent stake. Meanwhile, Colina Holdings (Bahamas per cent stake in the merged Ansbacher (Bahamas tinel Bank & Trust through SBL Ltd. It acquired this by paying a collective $8 million itself and through its Colina Insurance subsidiary, but this investment still has to pay dividends. However, the value of that investment has fallen to $7.125 million, even though the private bank cut its loss es in 2010 by more than 75 per cent year-over-year, reducing them from $2.999 million in 2009 to $731,577 in 2010. That reduced Colina Holdings (Bahamas through SBL Ltd, from $569,899 to $139,000 in 2010. With SBL having total assets and total liabilities of $136.853 million and $108.959 million respective ly, resulting in net assets of $27.893 million, the insurance companys share of the balance sheet was $4.69 million. Goodwill of $1.825 million and intangible assets of $608,772 took its total investment to $7.125 million. l eading trade specialist, Branford Isaacs, over these comments, Mr Laing said: When he heard our implementation plan, he said to me we had one of the clearest and most complementat ion plans he had seen/heard o f. We have a most comprehensive, extensive EPA implementation plan we are working on diligently. They [the CARICOM official] m ust be unaware of what we a re doing. I would have thought they would have taken time to come ands peak to us about what we a re doing, so they would be a ware. M r Laing said the transition period that the EPA allowed the Bahamas and other signatories lasted for three years or so, giving them time to make the required legislative and poli cy adjustments to bring t hem into full compliance with their obligations under t he agreement. There are legislative a mendments that have to be made to the Customs Management Act in relation toR ules of Origin and such like, theres intellectual p roperty legislation adjustments, and competition policy, he added. There are a raft of things that have to be done. We a re proceeding with them. We have drafted legislation w ith respect to many of these things. They have to go through a process, but I a m very comfortable with respect to where we are, k eeping up with compliance with the EPA. Mr Laing pointed out that many of the structures supposed to be created by the EPA to oversee it, including numerous committees, were yet to be properly formed, but we are working and doing what it is we are required to do under the EPA. Asked whether the costs a ssociated with EPA compliance would be prohibitive for the Government, especially given its current fiscal predicament, Mr Laing said the Ingraham administration w as merely doing what it w ould have to do anyway, i n terms of national development and the World Trade Organisation (WTO accession process. The cost is not exorbit ant, he added, because the reality is that many oft he things we are being asked to do under the EPA we have to do from a n ational development perspective. The resources to do them are already in hand. We are acceding to the WTO, and that will require a djustments to competition laws, intellectual propertyl aws, rules or origin and modernisation of Customs administration. Its all part and parcel of p articipating in the modern trade regime of the international community. The cost i s incremental, for the most part, in the ordinary course of doing business. Mr Laing also said there w as no issue over concerns expressed in other media that the Bahamas had f ailed to declare the export duties it imposed on EUe xports when the EPA agreement was signed. He explained that unlike other members of the CARIFORUM bloc, who had negotiated a three-year transition period during which to phase out their own export duties, the Bahamas did not need this treatment. As a result, it never asked for this transition period to be included in the annexes t o the EPA agreement when it was signed in late 2009. A nd, Mr Laing said, Customs had stopped imposinge xport duties on Bahamian exports to the EU chiefly crawfish in 2009 to ensure t his nation was EPA compliant. N oting that the tax revenues foregone by the Government were not significant, Mr Laing said only two Caribbean nations had a sked for the three-year transition period to bringt hem into compliance with the EPA stipulation that all export taxes be removed. Mr Isaacs [of the Implementation Unit] indicated that subsequent to the signing, it was discovered that the Bahamas charged an export duty, but we did not want to be part of this threeyear transition phase, Mr Laing explained. We never put anything o n the schedule that said: OK, we want a three-year t ransition...... Theres an export duty thats on theb ooks in the Bahamas, but having signed the agreement, the Government does n ot charge or levy that duty on shellfish being exported t o Europe. We ceased doing so in 2009. Describing the situation as a non-issue, Mr Laing said the Bahamas still had some legislative clean-up work to do in relation to international trade, ensuring that statute reflected ther eality on the ground. If one speaks to the letter o f the law, one of the things that happened during the WTO accession process was that any number of issues were raised about mattersi n law not being in keeping with what is practiced, the minister told Tribune Business. We are fulfilling our obligations under the EPA because we are not levying export duties on exports to Europe, and have done ever s ince the end of 2009. We will have to formally make some amendments to the legislation, so that in law itself these things are not an issue. There has to be a piece of legislation passed in relation to the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t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t %HYHUDJH'HSDUWPHQW 'LUHFWDQGFRRUGLQDWHWKHRRPV'LYLVLRQRSHUDWLRQVLQFRQMXQFWLRQZLWKWKH*HQHUDO 0DQDJHUDQG+RWHODQDJHUWRPHHWWKHGDLO\QHHGVRIWKHKRWHOLQFOXGLQJEXWQRW OLPLWHGWRVWDIQJIRUHFDVWLQJFRQWUROOLQJDQGVXSHUYLVLRQ 'LUHFWDQGFRRUGLQDWHZLWKWKH'LUHFWRU+RXVHNHHSLQJWRHQVXUHWKDWKRXVHNHHSLQJ SURFHGXUHVDUHHVWDEOLVKHGWRPD[LPL]HSURGXFWLRQUHJXODWHOLQHQDQGKRXVHNHHSLQJ VXSSOLHVDQGWRHQVXUHWKHFOHDQOLQHVVRIWKHIDFLOLW\&HUWLI\WKDWSURFHGXUHVDQG FRQWUROVDUHLPSOHPHQWHGIRUWKHODXQGU\RSHUDWLRQ 6NLOOVt$ELOLWLHV 0XVWEHDEOHWRVSHDNUHDGZULWHDQGXQGHUVWDQGWKHSULPDU\ODQJXDJHVfXVHGLQWKH ZRUNSODFH 0XVWEHDEOHWRUHDGDQGZULWHWRIDFLOLWDWHWKHFRPPXQLFDWLRQSURFHVV 5HTXLUHVJRRGFRPPXQLFDWLRQVNLOOVERWKYHUEDODQGZULWWHQ 0XVWSRVVHVVEDVLFFRPSXWDWLRQDODELOLW\ $GYDQFHGNQRZOHGJHRIWKHSULQFLSOHVDQGSUDFWLFHVZLWKLQWKHURRPVGLVFLSOLQHDQG KRVSLWDOLW\SURIHVVLRQLQFOXGLQJH[SHULHQWLDONQRZOHGJHIRUPDQDJHPHQWRISHRSOHDQG FRPSOH[SUREOHPV $ELOLW\WRVWXG\DQDO\]HDQGLQWHUSUHWFRPSOH[DFWLYLWLHVDQGRULQIRUPDWLRQLQRUGHUWR LPSURYHQHZSUDFWLFHVRUGHYHORSQHZDSSURDFKHV $ELOLW\WRPDNHGHFLVLRQVZLWKRQO\JHQHUDOSROLFLHVDQGSURFHGXUHVDYDLODEOHIRU JXLGDQFH 4XDOLFDWLRQVt([SHULHQFH %DFKHORUV'HJUHHRUHTXLYDOHQWHGXFDWLRQH[SHULHQFHUHTXLUHG )RXUWRYH\HDUVRIHPSOR\PHQWLQDUHODWHGSRVLWLRQ 4XDOLHGDSSOLFDQWVDUHLQYLWHGWRYLVLWRXUZHEVLWHRUHPDLOUHVXPHVDWVQEUMREV#VKHUDWRQFRP1RWH$OOLQIRUPDWLRQZLOOEHKHOGLQVWULFWHVWRIFRQGHQFH 'HDGOLQHIRUDOODSSOLFDQWVLV$SULO F ROM page 1B Bahamas has one of best implement plans for the EPA Colina suffers $675k net loss over Walk-In, bank interests FROM page 1B

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While many economists have said the ultimate impacton the global economy is still difficult to assess and might be modest the market jitters could cause the bank to pull back from its March 3 statements that many took as a near-guarantee it would raise its key rate. B ank President JeanClaude Trichet said then that the bank would exercise strong vigilance" on inflat ion taken as a code word that an inflation-fighting i ncrease was imminent to prev ent inflationary expectations from becoming built into thee conomy. Consumer prices increased 2.4 percent in April i n the countries that use the euro above the bank's goal of just under 2 percent. S ince then, violent uprisings in the Middle East have pushed oil prices to two-year highs and continue to t hreaten instability across the r egion and Japan's disasters triggered days of panic o n financial markets. "If in the run-up to the A pril ECB meeting stock p rices were to remain under s evere pressure and volatility stayed elevated, the central bank would have to reconsider its position on rates," Marco Valli, chief eurozone economist at Uni c redit Research, said Thursday. If the ECB holds off, it w ould be a rare about-face for Trichet and the bank'sg overning council but not u nprecedented the bank r eversed the course of its m onetary policy at the start of the financial crisis in 2007. Financial markets suggest investors are prepared for such a scenario. Expectations for overnight interest rates in the eurozone a year from now have slipped to 1.65 percent from 1.9 percent immediately after Trichet's statement. The drop would amount to removing one quarter-point increase from the bank's actions overt he next months. D oubt But not everyone agrees. "At this stage, we doubt that the horrific and tragic events in Japan will deter the ECB from acting, as the economic effects on the eurozone cur-r ently look unlikely to be a ppreciable," said Howard Archer at IHS Global Insight. He expects a rate increase o f a quarter percentage point a t the April meeting. T here is only one precedent for the bank announcing" strong vigilance" and then n ot following through. That was in August, 2007, w hen the bank reacted to the sudden worsening of the subprime mortgage crisis in the United States by reversing course and pouring credit into the banking system instead of tightening down, according to analyst Nick Mathews at R BS. The ECB's move will in part depend on whether the economic uncertainty over Japan eases some of ther ecent upward pressure on oil prices, said Mathews. I f other stock markets sag like Japan's Nikkei, "that would argue in favour of the ECB delaying rate hikes." S o far, stock markets have taken a sharp hit, though they steadied on Thursday, with European and U.S. indexes up 1 to 2 percent. T he ECB's key rate is at a record low of 1 percent, w here it has been since May 2009 to support growth through the financial and debtc rises. But now that Europe's economy is recovering, the b ank has said it is wary of w orkers and businesses building higher costs largely from rising food and energyp rices into their wage and price agreements. (AP Photo/Michael Prbst TAKINGALONGVIEW: Head of European Central Bank Jean-Claude Trichet takes off his glasses during a press conference in Frankfurt, central Germany, Thursday, March 3, 2011. Trichet announced that the ECB keeps its main interest rate unchanged. Doubts rise over ECB rate hike after Japan quake DISASTER IN JAPAN INTERNATIONAL BUSINESS

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TOMOKO A. HOSAKA, Associated Press TOKYO J apan's central bank sprayed more cash over jittery money markets Thursday as a major bank's ATMs suffered a two and a half hour outage nationwide and the yen shot to a record high. The Bank of Japan injected an additional 6 trillion yen ( $76.7 billion) in same-day funds after the dollar hit 76.25 yen in the morning an alltime low for the greenback in the aftermath of Friday's earthquake and tsunami that killed thousands and triggered an unfolding nuclear crisis. With same-day funds, banks in need c an access cash immediately. Mizuho Bank, Japan's third biggest lender, said 5,600 automatic cash dispensing machines were back online by midday after blacking out at about 9 a.m. It didn't explain the outage, which had added to already rattled nerves. The capital Tokyo endured more rolling blackouts Thurs day and faces months of power shortages because of earthquake damage to nuclear and conventional power plants. The utility that serves Tokyo has been forced to slash power supplies by a quarter. Power to parts of the sprawling region, which produces 40 percent of Japan's economic output, is cut for three hours a day. Around the country, people queued for fuel and emptied supermarket shelves of food and other necessities. Hundreds of thousands of people in the devastated northeast continued to shelter in temporary accom modation. Driving the yen to unprece dented highs were predictions that big Japanese investors like insurance companies would repatriate funds from overseas en masse to cover the cost of tsunami damage to northeast ern Japan, said Masafumi Yamamoto, chief foreign exchange strategist at Barclays Capital in Tokyo. The repatriation hasn't hap pened yet, so the volatility is "highly speculative," he said. The market is now betting that the finance ministry and Bank o f Japan will intervene to sell the dollar and weaken the yen.A strong yen hurts Japan's exporters, potentially deepening the already severe hit to the world's No. 3 economy from the multiple disasters. Analysts at Goldman Sachs estimated that Japan's disaster losses could reach $200 billion, which is more than 3 percent of Japan's gross domestic prod uct. The hardest hit prefectures (states Fukushima and Ibaraki represent about 7 percent of Japan's economy. The region is home to steel plants, oil refineries, nuclear power plants and factories mak ing parts for cars and electronics. Roads and other transport networks are crippled, while power supplies are constrained. The latest offer of central bank funding didn't prevent stocks from losing ground again. The Nikkei 225 stock average closed down 1.4 per cent at 8,962.67 after plunging on Monday and Tuesday before partly recovering on Wednesday. The Bank of Japan conduct ed emergency operations for the fourth day in a row, adding to the 55.6 trillion ($688 billion it provided money markets the previous three days. Of that figure, 28 trillion yen were sameday funds. By flooding the banking sys tem with money, it hopes banks will continue lending and meet the expected surge in the demand for post-disaster funds. F inancial markets nervously monitored the rapidly changing situation at a crippled nuclear power plant in the northeast. On Thursday, Japanese military helicopters dumped loads of seawater onto the plant, trying to cool danger ously overheated uranium fuel rods that may be on the verge of spewing more radiation into the atmosphere. NEW YORK Signs that the U.S. economy is improving helped investors put aside fears over Japan's nuclear crisis Thursday, if only temporarily. A gauge of manufacturing in the mid-Atlantic region jumped in February to the highest point since January 1984. The survey from the Federal Reserve's Philadelphia branch showed new orders soared. Production at U.S. factories, mines and utilities dipped last month but was actually higher in previous months than first estimated, according to the Federal Reserve. The Labor Department reported that the number of people applying for unemployment benefits fell more than economists expected last week. Ongoing claims dropped to the lowest level since October 2008. "It's a reminder that the U.S. e conomy continues to gain momentum," said Alan Gayle, senior investment strategist at RidgeWorth Investments in Richmond, Virginia. "Economic growth leads to more spending, more production and ultimately rising profits," he said. "And at the end of thed ay, that's what investors buy: rising profits." Gains in the stock market were broad. All of the 10 groups rose in the Standard & Poor's 500 index, the basis for most U.S. mutual funds. Twenty-six of the 30 stocks that make up the Dow Jones industriala verage rose, led by a 3.2 percent increase in HewlettPackard Co. The Dow gained 161.29 points, or 1.4 percent, to 11,774.59. The index fell 242 points Wednesday, its largest drop since August. The Standard & Poor's 500 rose 16.84, or 1.3 percent, to 1,273.72. With Thursday's gains, the Dow and S&P 500 are up more than 1 percent for the year. The Nasdaq rose 19.23, or 0.7 percent, to 2,636.05. The technology-heavy index is down 0.6 percent for the year. FedEx Corp. rose 3 percent. The world's second-largest delivery company said revenue rose 11 percent in the most recent quarter, mostly due to higher shipping rates. FedEx said those higher rates may help it beat earnings forecasts in the future. United Parcel Service Inc., FedEx's rival, rose 1.7 per cent. The dollar dropped to an alltime low against the Japanese yen late Wednesday, reaching 76.53 yen to the dollar. By Thursday afternoon, the yen had weakened and was trading at 78.97 yen to the dollar. When the yen loses strength, it takes more yen to buy one dollar. A stronger yen would hurt Japan's exporters, potentially dealing another problem to an economy already wracked by an earthquake, tsunami and evolving nuclear crisis. A separate report from the Labor Department showed consumer prices edged higher in February. The Consumer Price Index rose 0.5 percent last month, slightly stronger than forecasts. Core prices, which exclude food and fuel costs, edged up 0.2 percent, the same as the previous month. Three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.3 billion shares. BUSINESS T HE TRIBUNE FRIDAY, MARCH 18, 2011, PAGE 7B 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .130.95AML Foods Limited1.091.090.006,4300.1230.0408.93.67% 10.639.05Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 5.754.40Bank of Bahamas4.404.400.000.1530.10028.82.27% 0.530.17Benchmark0.180.180.00-0.8770.000N/M0.00% 2.842.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.201.96Fidelity Bank1.961.960.000.0160.040122.52.04% 12.409.43Cable Bahamas10.219.43-0.781,0001.0500.3109.03.29% 2.852.35Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.80Commonwealth Bank (S1)6.826.820.001650.4880.26014.03.81% 2.861.90Consolidated Water BDRs2.142.10-0.040.1110.04518.92.14% 2.541.40Doctor's Hospital1.401.400.000.1070.11013.17.86% 6.305.25Famguard5.255.250.001,0000.3570.24014.74.57% 9.275.65Finco5.885.880.000.6820.0008.60.00% 11.408.77FirstCaribbean Bank9.399.35-0.041,0000.4940.35018.93.74% 6.004.57Focol (S)5.475.470.000.4520.16012.12.93% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.255.50ICD Utilities7.407.400.004500.0120.240616.73.24% 10.509.80J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029TUESDAY, 15 MARCH 2011BISX ALL SHARE INDEX: CLOSE 1,447.31 | CHG -10.59 | %CHG -0.73 | YTD -52.20 | YTD % -3.48BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 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%B ISX LISTED & TRADED SECURITIES AS OF:7% Interest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas 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. 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DISASTER IN JAPAN J APAN SPRAYS MORE CASH OVER JITTERY MARKETS

PAGE 17

B USINESS PAGE 8B, FRIDAY, MARCH 18, 2011 THE TRIBUNE WASHINGTON Factories are producing more cars, computers and household appliances, and applications for unemployment benefits over the past four weeks are at the lowest point since summer 2008. Economic data released Thursday suggest that March will be the second straight month of strong job growth. And the reports helped Wall Street rebound a day after the market suffered its biggest drop in seven months. Still, rising prices for household necessities and trouble overseas could slow the U.S. economy in the coming months. "We have a lot of momen tum in the U.S. economy right now," said Kurt Karl, chief economist at Swiss Re. "That's good, particularly since we're going to be challenged by high er oil prices" and the impact of Japan's earthquake and nuclear crisis. A key reason for the brighter outlook is that factory production increased in February for the sixth straight month. The Federal Reserve said produc tion of cars and auto parts jumped 4.2 percent, nearly matching January's gain. Pro duction of furniture, electronics and appliances all rose. Manufacturing output has grown in all but four months since the recession ended in June 2009. And manufacturers have created 190,000 jobs over the past year, the highest 12month total for that group since 1998. Last month alone facto ries added 33,000 net new jobs. Ford Motor Co. said last month that it would boost fac tory production 13 percent in the January-March quarter in response to greater demand for its cars and trucks. The company has announced plans to hire 7,000 workers over the next two years just to build new models, such as the Ford Escape, a small SUV. Rising factory output sup ports "more high-paying jobs, and more high-paying over time," said Brian Bethune, chief U.S. financial economist at IHS Global Insight. Fewer people are seeking unemployment benefits. Appli cations fell last week for the third time in four weeks, the Labor Department said. The four-week average has dropped to a 386,250 the lowest level since July 2008. That's near the 375,000 level that, if sustained, tends to signal declines in the unemployment rate. WASHINGTON Americans paid more for food and gas in February, driv ing up consumer prices at the fastest pace in nearly two years. The Consumer Price Index rose 0.5 percent in February, the largest increase since June 2009, the Labor Department said Thursday. Core prices, which exclude food and energy, rose only 0.2 percent, matching Janu ary's gain. Gas prices jumped 4.7 percent in February, above January's increase but below December's rise. Oil and gas prices have risen sharply since the beginning of the year due to political turmoil in the Middle East. Food costs increased 0.6 percent, the most since September 2 008. Food costs rose for almost all major grocery store groups, including meat and eggs, dairy, and fruits and vegetables. The cost of cereals and baked goods was flat, the only group that didn't increase. Bigger food and gas bills may limit Americans' ability to buy discretionary goods, and that could hamper economic growth. Rising raw material costs are also reducing profit margins at some companies. There are also concerns that inflation could spread. New car prices also jumped 1 percent, and airline fares and medical care costs rose. Clothing costs dropped 0.9 percent, after a sharp rise in January. Despite those gains, economists said there is little sign that price increases outside of food and energy will get out of hand. "High unemployment and modest wage gains should continue to keep a lid on ... inflation," said Sal Guatieri, an economist at BMO Capital Markets. Some companies are starting to pass on higher raw materials costs to consumers. Kimberly-Clark Corp. said Thursday that it is raising prices on its Huggies diapers, Cottonelle toilet paper and other child care products. The move is intended to offset higher costs for wood pulp and oil. Other companies are reporting lower profits due to higher commodity costs. FedEx Corp. said Thursday that earnings fell 3 percent in the December-February quarter because of rising fuel prices and bad winter weather. The drop occurred even though the package delivery company also raised prices to offset oil costs. FOOD AND GAS PRICES SHARPLY UP IN US ( AP Photo/Seth Perlman, file) HARVESTTIME: In this file photo taken Oct. 7, 2010, central Illinois farmer Bob Hogan climbs back into his combine while harvesting soybeans in Pawnee, Ill. Wholesale prices outside of the volatile food and energy categories rose at the fastest pace in more than two years last month, a sign inflation could be rising as the economy strengthens. ( AP Photo/Steve Helber) FINALADJUSTMENTS: In this Jan. 26, 2011 photo, workers make final adjustments in the inspection area on the Volvo truck assembly line at the Volvo plant in Dublin, Va. Factories produced more cars, a ppliances, computers and furniture in February, lifting manufacturing output for the sixth straight month. INTERNATIONAL BUSINESS Str ong economic data points to more hiring WASHINGTON The Federal Reserve plans to tell some major banks on Friday whether they are healthy enough to boost stock dividends. Banks can increase dividends if they pass "stress tests" show ing that they can weather another recession. All of the 19 largest banks overseen by the Fed were subject to the examinations even if they didn't intend to increase their dividend payments. Those banks include Citigroup, Bank of America, JPMorgan Chase & Co. and Wells Fargo. The Fed's first stress tests were conducted in 2009 when the country was reeling from a severe recession and financial crisis. Those results were made public in a move to boost confidence in the fragile U.S. banking system. Fed to soon give gr een light on bank dividends