By NATARIO McKENZIE Tribune Staff Reporter n firstname.lastname@example.org THE murder count c limbed to 50 over the weekend after a father was shot multiple times outside his Bain Town home. The victim has been iden tified by his family as 31year-old Fidel Antonio Miller. Millers sister Daisy Algreen recalled that she last saw her brother alive around 11.30 Friday night. I guess he was saying his f inal goodbye because he was telling us he loved us, she told the Tribune yester day. Ms Algreen said that she was wakened by thes ound of gunshots near the familys home on Polehmus and Parker Streets around4 .08 am Saturday. She said it wasnt until around 6 am Saturday that the family discovered that Fidel was dead inside his car. NASSAU AND BAHAMA ISLANDS LEADING NEWSPAPER Murder count climbs to 50 Volume: 107 No.155MONDAY, MAY 30, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY AND A SHOWER HIGH 88F LOW 77F INSIGHT: EDUCATION: AREYOURCHILDREN GETTING VALUE FORMONEY? Father is shot m ultiple times outside home T RY OUR CHICKEN M AC The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM KIDS SCOOP O O w w i i n n g g t t o o t t e e c c h h n n i i c c a a l l d d i i f f f f i i c c u u l l t t i i e e s s , K K i i d d s s S S c c o o o o p p w w a a s s n n o o t t p p u u b b l l i i s s h h e e d d i i n n S S a a t t u u r r d d a a y y s s p p a a p p e e r r . I I t t w w i i l l l l n n o o w w g g o o i i n n T T u u e e s s d d a a y y s s p p a a p p e e r r . W W e e a a p p o o l l o o g g i i s s e e f f o o r r a a n n y y i i n n c c o o n n v v e e n n i i e e n n c c e e . I N S I G H T I N S I D E SEE PAGE 12B INSIDE TODAY: DOCTORS HOSPITAL SUPPLEMENT REPORTS reached the Tri bune news desk last night of a reported shooting in Union Village. Details were sketchy up to press time yesterday however police press liaison officer Chrislyn Skippings confirmed that there was a report of a shooting in Union Village shortly before 1pm yesterday. By ALISON LOWE T ribune Staff Reporter email@example.com A DECISION by a B ahamian soccer official to whistle-blow on alleged corruption is being credited in the international media as exposing a scandal that isn ow threatening to tear apart FIFA, the wealthy global body that governs theh ugely-popular sport. The Telegraph of London y esterday reported that a secret dossier on the cor BAHAMIAN WHISTLE-BLOWER ISAPPLAUDED FOR EXPOSING FIFA SCANDAL By ALISON LOWE Tribune Staff Reporter firstname.lastname@example.org T HE Bahamas Commu nications and Public Offi cers Union did not get what it wanted from BTC in the voluntary severancep ackages that the company has decided to offer employ ees as it seeks to reduce staff by at least 30 per cent, the President of the BCPOU has stated. Bernard Evans said the packages fall short given the economic conditions and the climate in this country and do not match or exceed the benefits offered to BTC employees who separated BTC SEVERAN CE DEAL S FALL SHORT OF UNION HOPES SEE page 11 By NOELLE NICOLLS Tribune Staff Reporter email@example.com THE government is implementing recommendations from an internal audit of public high schools to transfer all financial responsibilities inside the schools to accounting professionals. In the new budget announcement last week, the government included provisions to appoint about 20 bursars to the new post at public high schools, according to Tribune sources. The financial burden that was placed SEE page ten FINANCIAL DUTIES IN PUBLIC HIGH SCHOOLS TO BE TRANSFERRED TO ACCOUNTING PROFESSIONALS Shooting report SEE page ten SEE page 11 By DENISE MAYCOCK Tribune Freeport Reporter firstname.lastname@example.org THE death of a 29-year-old man shot in Freeport two weeks ago has brought to three the number of people murdered on a single street in Freeport in three months. Suny Anopolis died in the Princess Margaret Hospital in New Providence on Friday evening after being shot on Weddell Avenue in Garden Villas, Freeport, on May 17th. His condition had initially been described as poor when he was admitted to the SEE page ten SHOOTING VICTIM DIES FR OM INJURIES BAHAMAS DEFEAT MEXICO IN CARIBBEAN CHAMPIONSHIPS Photo by Tim Clarke /Tribune staff ON TOP: The Bahamas beat Mexico 17-12 in the North America Caribbean Rugby Association Mens YOURHEALTHTODAY
B B y y A A L L I I S S O O N N L L O O W W E E T T r r i i b b u u n n e e S S t t a a f f f f R R e e p p o o r r t t e e r r email@example.com A SPIRING to inspire downtrodden Bahamians, Cynthia Mother Pratt, former Minister of National Security and MP f or St Cecelia, launched her first book this weekend, chron icling her life, struggles, challenges and triumphs. The parliamentarian and c hurch leader said that her dri ving ambition now that she is p reparing to exit public life is that her story, as a woman who c ame from abject poverty to rise to one of the nations high est offices, can provide the encouragement needed to lead young people to make the best o f their lives despite difficult circumstances. No Equal to Gods Chosen is the title of her 125-page w ork, which has been several years in the making. From Poverty to Destiny is the sub-heading. It talks about where Ive come from, my early childhood days where I grew up in inner city and the straw market, really in abject poverty, a nd it goes down through my years of sports and of nursing a nd of education and now in politics to show the masses who are in the gutter that there is hope and if God is able to elevate me it can happen for them, Mrs Pratt told The Tribune yesterday in an interview from her home. At a reception hosted at the British Colonial Hilton on Fri day, Mrs Pratt welcomed parliamentarians, church and community leaders, family and friends to announce the launch of the book: The first, she says, of a series to come. But it is Bahamian children and teenagers who she hopes the book will have the most sig n ificance for. I am concerned about the c hild in Bain Town, the Grove, Montell Heights, even those in Carmichael who are in the middle class, but still poor. Its all about trying to encourage them that they dont have to resort to negative things, that there is hope, said Mrs Pratt. Sixty-five-year-old Mrs Pratt was born the 13th of 16 chil dren and spent her early years in the inner city just south of Meeting Street. She worked LOCAL NEWS PAGE 2, MONDAY, MAY 30, 2011 THE TRIBUNE W elcome to theREV olutionR evolution starts with REV. And the revolution t hats coming to Bahamian communications starts with REV, too. REV is Cable Bahamas powerful triple play of Television, Online, and Voice. Now you can choose the convenience of getting it all from C able Bahamas. REV TV, coming this month, b rings you over 60 high-denition channels, v ideo on demand, easy searching, and DVR o nline. And soon well bring you the power of REV OICE (think rejoice! technology in the business with caller ID, call forwarding, and no hidden fees or extras. And with speeds up to 9 Mb/s downstream, R EV ON brings you Internet speeds as fast as t he fastest in America. Of course, REV comes with the Cable Bahamas reliability and our commitment to always do whatever it takes to provide the very best personal service to your home or business. Its REV Its powered by Cable Bahamas. A nd its spreading all over the islands. Join the R evolution. Go to cable bahamas .com Mother Pratt hopes her first book will inspire struggling Bahamians B y AVA TURNQUEST Tribune Staff Reporter firstname.lastname@example.org DISTURBING phot ographs that depicted gross negligence of maintenance at court bathroom facilitiesw ere the subject of public health concerns yesterday. L ast night, officials within the Office of the Judiciary confirmed to the Tribunet hat aggressive action would be launched today to address the issue. We will move aggresCourt bathrooms a disgrace P HOTOGRAPHSHIGHLIGHTHEALTHCONCERNSOVERRESTROOMS GROSSNEGLIGENCE: Photos show the atrocious state of court bathroom facilities. SEE page six SEE page nine FIRST BOOK: Cynthia Mother Pratt with PLP Leader Perry Christie.
By AVA TURNQUEST Tribune Staff Reporter email@example.com THE Bahamas Agricultural Producers Association have lodged concerns witht he government over its failure to consult with local farmers on World Trade Organisation negotiations. The criticism came as B APA continued their appeal for government to reconsider its decision to r emove customs duty from imported fruits in a press statement yesterday, suggesting that the move willh urt the agricultural industry. Keith Campbell, the assoc iations president, also warned that the removal of such duties would put the country at a disadvantage as it vies for entrance to theW orld Trade Organisation ( WTO). Unfavourable The removal of the duty from fruit also places us in the most unfavourable position possible when it comes to WTO accession, said Dr Campbell, as prudent coun tries have always set their t ariff rates as high as possible prior to accession and then engage in negotiations a fterwards to adjust them. The WTO is a global body governing trade between member nations with the goal of improving the ease of business between producers, exporters and importers. We are most concerned, said Dr Campbell, that as stakeholders we have not been involved int he WTO accession negotiations and that Finance has presumed themselves to bec ompetent in all areas as they negotiate away our ability to be competitive in t he markets of the WTO, i nclusive of our own. T ariffs In his Budget presentation l ast week Prime Minister Hubert Ingraham a nnounced plans to eliminate all tariffs on fresh fruit. Duty on imported vegetables was reduced from 35 to 10 per cent a few years ago. F ollowing the presentation, The Tribune spoke with local farmers who said t hey would prefer the gove rnment to use existing legislation to implement seasonal tariff structures for l ocal produce instead of e liminating tariffs across the board. However, officials insisted that imports, and by e xtension the elimination of tariffs, was increasingly nece ssary due to consumer demand. Larry Cartwright, Minist er of Agriculture, advised t hat the local industry could not meet the countrys produce demand and that the t ax cessation would cut down on smuggling. According to Mr Cartwright, consumers have been "shouting at the Ministry of Finance." Farmers also h ighlighted the need for a c ultural shift from consumers, most of whom are still reluctant to patronise l ocal growers. We would recommend instead that the duty be removed from temperate fruits, Dr Campbell said y esterday, such as apples and Bartlett pears, etc, w hich we do not produce and remain in place for tropical fruits, such as mangoes, b ananas, avocados, citrus, e tc, which we do produce and in some instances also export. O fficials within the Ministry of Agriculture, as well as Finance, were unavailable for comment up to press LOCAL NEWS THE TRIBUNE MONDAY, MAY 30, 2011, PAGE 3 By DENISE MAYCOCK Tribune Freeport Reporter firstname.lastname@example.org FREEPORT Grand Bahama Police are investigat-i ng the shooting of a 50-yearold man in the Freeport area early Sunday morning. ASP Loretta Mackey, p olice press liaison officer, reported that police responded to a shooting around 5.57am at Nansen Avenue. When officers arrived at t he scene, they saw a man lying on the ground with a gunshot injury at an apartment complex. The victim had b een shot in the upper shoulder near the neck. He was transported by EMS personnel to the Rand Memorial Hospital for medical treatment. Ms Mackey said Central Detective Unit officers arec ontinuing investigations into the shooting. Anyone withi nformation that can help the police is asked to call 3 3 5 5 0 0 3 3 1 1 0 0 7 7 / / 8 8 3 3 5 5 2 2 9 9 7 7 7 7 4 4 / / 5 5 During the weekend the Police here on Grand Bahama arrested 19 adult males and one juvenile male for variouso ffences that included housebreaking, shopbreaking, steal-i ng, abstracting electricity, causing harm, disorderly b ehaviour, fighting, and using obscene language. Six of the males arrested have outstanding warrants of apprehension issued by the M agistrates Courts. Govt criticised for failing to consult with local farmers on WTO talks BAHAMAS AGRICULTURAL PRODUCERS ASSOCIATION POLICE arrested a 31year-old Chippingham man early yesterday morning when he was found in possession of a handgun. The arrest occurred around 3am on Sunday. According to reports, officers of the Southern Division were on patrol on Nassau Street in the area of Bain Street when they saw a man actually suspiciously. It is reported that the man upon seeing the officers threw an object under a nearby vehicle. Officers retrieved the o bject, a loaded handgun. The man, a resident of Churchill Avenue, Chip pingham was taken into cus tody. Police investigations into the matter continue. THREE men were taken into police custody early Sunday morning after police recovered a handgun following a chase in the Pinewood Gardens area. Reports state that shortly after midnight on Saturday officers of Rapid Strike were on routine patrol on Sequoia Street, Pinewood Gardens when they observed the occupants of a black Toyota Tercel acting suspiciously. It is reported that the driver upon seeing the officers sped off. The officers pursued the vehicle and saw one of the men throw an object out of a window. The officers inter cepted the vehicle, conduct ed a search of the area where the object was thrown and recovered a handgun. The men ages 19, 20 and 27 years were taken into custody. crime SHORTS LARRY CARTWRIGHT POLICE PROBE SHOOTING OF MAN AGED 50 MAN ARRESTED FOR ALLEGED GUN POSSESSION
E E D D I I T T O O R R , T T h h e e T T r r i i b b u u n n e e . M any unfair comments have been made about police presence and police action on Bay Street relatingt o the armed robbery at John Bull. Comments from politicians and other persons were carried in the media. It appears that media personnel did not attempt to get the facts. At a time shortly after the r obbery an armed policeman appeared on the scenea nd as he approached the v ehicle he saw a huge automatic pointed towards him. This stopped his pursuit p romptly, but he did follow the vehicle on foot and wasa ble to observe the culprits a bandoning the vehicle at Parliament and ShirleyS treets. There was police presence in the city with officers on t he waterfront and straw market and on George Street. I could not confirm h ow many police officers were in the city area, butt hey were certainly not enough to be at each jew ellery store or even on each block. I have a concern as to what security measures are b eing taken by our merchants to protect their premises. It appears at timest hat all is left to the police. Crime prevention technolo g y and crime prevention a dvice are available at several firms in The Bahamas. S ecurity Services International (SSI mended. Cameras & Moni-t ors, Alarm Systems and the extremely useful panic buttons are very effective in thep revention and detection of c rime. In a robbery situation i t is expected that employees in the store will hesitate toc all while the robbers are present. This delays the informat ion reaching the police. Panic buttons just need to b e touched and the information is communicated to the police via the monitoring company. Cameras well placed pro v ide information that assist immensely in detection. It is also a preventative measure. Merchants should be advised to store their most v aluable items as far inside the premises as possible s ome distance from the entrance. Hardened glass used on the showcases could b e an asset. It is known that some merchants use cheapr eplicas of products for displays. Recording of serial numbers on expensive items could be of help to the police and help in the identification process. Well trained security officers, who are alert, observant and vigilant have been known to foil armed robbery attempts. I n recent times security officers have foiled armed robberies at at least twob anks in New Providence. M any of our merchants consider security as an expensef rom which revenue is not derived. They are hesitant to pay f or the required standard of security. I implore merchants, in p articular the jewel merchants to consider crime prevention measures and security consultations tom ake their businesses safer for their employees and cus tomers. Hardening the target is one of the concepts of c rime prevention. I n spite of the critics and t hose who would like the crime trend to remain as it is, our Police Force contin u es to perform with distinc tion. I have faith, that this is the year of the policeman. We served with honour we remember with pride. P P A A U U L L T T H H O O M M P P S S O O N N S S r r Nassau, May 27, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, MONDAY, MAY 30, 2011 THE TRIBUNE The Tribune Limited N ULLIUS 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 C ontributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972P ublished Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES Switchboard (News, Circulation and Advertising) 322-1986 Advertising Manager (242 WEBSITE www.tribune242.com updated daily at 2pm HAVANA Cuban President Raul Castro is set to join elder sibling Fidel in the r anks of octogenarians this week, even as he s pearheads efforts to rejuvenate the Communist-run island's tired economy. T he big day comes Friday, June 3, and it is likely to pass with little fanfare. Raul and F idel who turns 85 on August 13 have historically eschewed public celebrations oft heir birthdays, and the government told The Associated Press it had no word of any offic ial events to mark the day. But the milestone is sure to remind supporters and detractors alike that the era of the Castros is nearing its end, biologically if not politically. Raul is already a month oldert han Fidel was when a near-fatal illness forced him to step down temporarily, then per-m anently in 2006. In April, Fidel gave up his final post as head of the Communist Party. "Fidel is out at the age of 85 and he was always much healthier than Raul as a young m an and now Raul is 80," said Ann Louise Bardach, a longtime Cuba expert and authoro f "Without Fidel" and "Cuba Confidential." She gave Raul credit for having the c ourage to push an agenda of economic change since taking over the presidency, but said he missed a great chance to bring in new leadership at a key Communist Party summit in April when he selected old-guard revolut ionaries Jose Ramon Machado Ventura, 80, and Ramiro Valdes, 79, as his Nos. 2 and 3. Their challenge is that they must bring in a younger generation, but instead Raul p icked someone even older than him as his chief deputy," she said. "It just shows how unconfident they are. They missed an opportunity." On the streets of the capital, Havana, react ions to the president's round-number birthday were mixed. I'm not so concerned about his age because he looks like he's in good health," s aid Marcelo Delgado, a 72-year-old retiree. "What I am worried about is that it seems to be taking a long time to bring in the economic changes he is talking about, and there isn't much time left." S ince taking office, Raul has legalized some forms of self-employment, turned over f allow government land to small-time farmers and promised to trim the state's bloated pay r oll by 500,000 workers. He also has pledged to legalize the sale of cars and homes, end restrictions on Cubans travelling abroad and open up credit to would-be entrepreneurs though those proposals remain part of a vague five-year plan and many are still sceptical. Raul is going to turn 80, and the others are even older," said Ernesto, a 26-year-old Havana resident, who asked that he only be i dentified by his first name for fear he could g et into trouble for speaking out about the country's leaders. To make real changes the country needs young people," he said. "Raul talks a lot a bout giving power to the young, but I ask you, 'Where are they?'" T hose with long years of involvement in the island's affairs say Raul's birthday is a m oment for reflection. Wayne Smith, who was a young foreign service officer in Havana when President John F. Kennedy pulled U.S. diplomats off the island in 1961, said he never thought att he time that the Castros would still be in power all these years later, nor that Cubaw ould still be America's enemy. "Good Lord, no," chuckled Smith, who is now a senior fellow at the Washington-based Centre for International Policy. "When we left in 1961, I expected to be back shortly. H ere we are more than 50 years after the revolution and we still haven't come to ad ecent relationship with them." Smith, who returned to Havana as Amer i ca's chief diplomat in 1979 and remains an outspoken opponent of Washington's 49-year trade embargo, said he was hopeful Raul Castro could make good on his economic overhaul now that he is in command and out f rom under his charismatic brother's shadow. It will be interesting to see how far they get before he does pass from the scene, b ecause of course he will," Smith said. That would be fine with many Cuban exiles in Miami, who have grown old themselves waiting for an end to the brothers' reign. He's 80 and he may have another four or five birthday celebrations," said Pepe Her n andez, head of the Cuban American Nation al Foundation, a Miami-based exile organi z ation. "But our concern is what happens after that, and in Cuba they don't seem very concerned about that. I think we should be concerned about what happens when there are no more birthday parties for Raul." O ne person who is unmoved by Castro's birthday is Daniel Torres, a 69-year-old r etired veteran in Miami who left Cuba shortly after the 1959 revolution because he s ays he was threatened with jail time for speaking out against the government. "After 52 years of tears and suffering, I don't know what else to say," he said. "It's a shame he's made it to 80." (This article was written by Paul Haven o f the Associated Press). Criticism of police over John Bull robbery has been unfair LETTERS l email@example.com Castro brother turns 80 in aging regime E E D D I I T T O O R R , T T h h e e T T r r i i b b u u n n e e . The announcement that mv Discovery was stopping its service between Miami and Freeport came as no surprise really surprised that they didnt stop earlier. The brilliance of our Ministry of Tourism forced SS Celebration, not the Carnival b oat, from their preferred and liked service Palm Beach to Nassau to adding to the Freeport South Florida overnight service. They I am told subsidized both services obviously market forces won out and one service is now discontinued. Whichever party you support the success of the governments interventions since 2007 have not been too successful except after the dredging of Nassau Harbour for $45 million we see high percentage increases of cruise arrivals as well as a higher what I call stay-on-board cruise passenger levels. The John Bull incident over the weekend will have consequences no cruise line is going to suggest to their passengers it is automatically safe if you leave the boat in case an incident occurs. Atlantis if you didnt notice is running a new TV advertisement children free 100 per cent free daily full breakfast couple thatw ith companion free we might as well tell the potential guests your vacation is on us! It seems things are getting desperate as most Caribbean destinations indicate their arrivals by air and sea are respectfully in the black. H H R R A A H H M M I I N N G G Nassau, May 23, 2011. Not surprised that Discovery is stopping Miami-Freeport service E E D D I I T T O O R R , T T h h e e T T r r i i b b u u n n e e . It was with great interest that I read the letter from Mr DAguilar, the former president of the Bahamas Chamber of Commerce who congratulated the government on the new airport but who complained bitterly about the length of time it took for him to pre-clear US Customs and Immigration and urging the government to do something about it. I was surprised that Mr. DAguilar does not under stand that the area of the airport occupied by US Cus toms and Immigration is US territory and the Bahamian government has no jurisdic tion over it. He is probably too young to remember when we did not have pre-clearance facil ities and how the government worked hard and long to have such facilities in this country. He possibly has not been in the arrivals terminal in Miami or another US port of entry along with thou sands of travellers from Europe, the Caribbean, Latin America and other parts of the world waiting for long periods in longer lines to clear Customs and immigration Believe me, Mr DAguilar the time spent in the preclearance lines at the Sir Lynden Pindling airport is a joke compared to the torture of doing the same in Miami after a long flight from Europe or South America. J J E E A A N N N N E E I I T T H H O O M M P P S S O O N N Nassau, May 27, 2011. B AHAMAS HAS N O JURISDICTION OVER AIRPOR T AREA OCCUPIED BY US CUSTOMS AND IMMIGRATION E E D D I I T T O O R R , T T h h e e T T r r i i b b u u n n e e . The politicians that make up the present Government have released their Budget for the next twelve months. Meanwhile, the politician that is the leader of the Official Opposition is quoted in the press as saying the budget "is an election ploy" designed to get votes, while the only independent politician is quoted as saying the budget is "political." Well, the dictionary says that a politician is "a person who is professionally involved in politics, especial ly as a holder of/or a candidate for an elected office." So shouldn't one expect a politician to be political or attempt to get votes? Politicians confuse me. R R I I C C K K L L O O W W E E Nassau, May 26, 2011. POLITICIANS CONFUSE ME
LOCAL NEWS THE TRIBUNE MONDAY, MAY 30, 2011, PAGE 5 ?WW-^QTLWMZ[ BTC is taking steps to improve ease of access to customer service by implementing a single number at its expanded call centre for all customer service needs. The newly-privatised telecommunications company said in a release issued over the weekend that it is doing away with the multitude of different numbers customers were previously required to use to inquire about various services and report problems and replacing them with one easy to remember phone number: 225-5282. Remember that three-digit number you had to dial to report a phone out of order? Or the seven-digit number you called to change features on a mobile phone, set up VIBE or the other number you rang to inquire about a bill or talk about international roaming? If you remember those numbers now, you can forget them in the future. BTC announced today that its expanded call centre is up and running with all calls being handled by one number seven days a week, 24 hours a day. Marlon Johnson, Vice President, Sales and Marketing for BTC said: The BTC call centre with all calls regarding all services being routed through a single number free of charge from anywhere within The Bahamas is one more way BTC is improving service to our customers by making it more convenient. The single number call centre replaces more than 20 numbers that occupy a full services numbers page in the telephone directory. He emphasised that in addition to making it easier to remember how to call BTC, whether to discuss roaming or topping up minutes, the call centre also means extended hours and all calls to the centre are free. "They do not use up any minutes and there are no toll charges if you are calling from a Family Island." BTC will continue to roll out customer service initiatives as it deepens its commitment to unparalleled customer service, said the statement. As customers rightly expect value for money, we must continually get better at how we interact with our customers. Frankly, we want customers to expect to get the best customer experience in The Bahamas at BTC and that is and will be our primary aim as a company, said Mr Johnson. BTC moves to improve ease of access to customer service THE wife of Baptist Bishop Earl Randy Fraser is expected to take the witness stand when his trial resumes in a MagistratesC ourt today. Prosecutors have accused Fraser, 53, of abusing his position of trust by having a sexual relationship with a 16-y ear-old girl he had agreed to counsel. It is alleged that Fraser, pastor of Pilgrim Baptist Temple on S t James Road, had a sexual relationship with the girl between July 2005 and February 2006. Fraser has denied committing the offences and remains on $10,000 bail. He is represented by attorney Jiaram Mangra. Deputy Director of Public Prosecutions Franklyn Williams is prosecuting the case. BISHOP EARL RANDY FRASER RANDY FRASERS WIFE EXPECTED TO TAKE WITNESS STAND
s ively in there and try to clean it up and restore it, s aid Leroy Sumner, an undersecretary. This is the first complaint that we areg etting that something was untowards at the toilets. We will move in there [today] to address the problem. Human waste, graffiti and trash were shown to pervadet he restrooms assigned to the Nassau Street court complex. A ccording to the sender, who took the pictures on F riday and wishes to remain anonymous, the filthy conditions have remained u nchanged since April. The sender said he was directed to the facilities after he attempted to use the bathroom at the nearbyp olice station. This is the same bathroom that defendants, plain-t iffs and lawyers have to use, said the sender. This s hould be investigated. Because of these circumstances, the lawyers, magis-t rates and other people don't want to come to court. P ictures attached are self explanatory. I think this is a disg race, he added. Mr Sumner explained that conditions at the facility degenerated due to improper use which overwhelmedt he restrooms sole janitress. [The bathroom] was left open and became a commun ity toilet, he said, previ ously the bathroom was only to be used by personsa ppearing in and around the court. The police who had access to the key left the toi lets open and the communi t y had unfettered access. Last night, it was unclear whether the facilities were operable. It does not fall under the r esponsibility of my min istry, said Earl Deveaux, Minister of Environment, but now that you have giv en it to me I will ensure it is given to the right personsf or appropriate action. Clearly this is a combination of absolutely poor sanitation and public cleanliness. The Office of the Judi c iary has administrative oversight of the court premises through the Direc tor of Court Services, a ccording to Attorney Gen eral John Delaney. Howev er, Mr Delaney advised that m aintenance of public bath rooms was the responsibility of the Ministry of Public Works. Attempts to reach Minis t er of Public Works Neko Grant were unsuccessful up to press time. LOCAL NEWS PAGE 6, MONDAY, MAY 30, 2011 THE TRIBUNE 6$/( 6$/( 6$/( 6$/( 6$/( )25 )25 )25 )25 )25 )25 )25 )25 )25 )25 )25 )25 )25 )25 )25 )25 )25 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 6$/( 0HWDO'UXPV HDFK ,VODQGDYHUV P OLICE continue their public appeal for any information that may lead to the arrest of 26-year-old convict Lavardo Rahming. R ahming, a Pinewood Gardens resident, failed to attend Supreme Court in Grand Bahama last week Monday where a jury found him and ShavardoM cPhee guilty of the 2008 murder and armed robbery of Abaco grocery store cashier Dion Strachan. Rahming was described as having d ark brown skin, being of slim build, and 6 feet 2 inches tall. M cPhee was present in court to hear the verdict, but Rahming, who was on $35,000 bail, failed to show up and a bench warrant was issued for his arrest. Dion Strachan was shot and killed on November 27, 2008 during an a rmed robbery at the M&R Foodstore in Marsh Harbour, Abaco where he was employed as a cashier. Five men were initially charged in t he matter, however, during the course o f the trial the prosecution withdrew the charges against Calvin Edgecombe, 24, and Dario Mills, 24. The jury was unable to reach a verd ict in the case of Jermaine Russell, who was charged with conspiracy to commit armed robbery. He will remain on bail until September 1 when thep rosecution will decide whether to drop the charges or proceed with other charges against him. On Monday, a jury of eight women a nd four men returned a unanimous guilty verdict on the murder charge a gainst the pair. They also returned a guilty verdict by a vote of 9-3 on the armed robbery charge. Persons with information that might assist police with their search are asked t o contact police at 9 9 1 1 1 1 CDU at 5 5 0 0 2 2 9 9 9 9 9 9 1 1 or Crime Stoppers at 3 3 2 2 8 8 T T I I P P S S Cable Bahamas technicians try to restore cable, Internet services CABLE Bahamas technicians were busy yesterday trying to restore cable and Internet services to residents of western New Providence. The disruption in service reportedly began early Sunday morning. Attempts to reach officials at Cable Bahamas for comment on the issue and to ascertain the cause of the disruption proved unsuccessful up to press time yesterday. The company acknowledged by way of an automated messaging service that technicians were working diligently in western New Providence to restore service to its customers. Police continue appeal for help in finding convict, 26 LAVARDO RAHMING Court bathrooms a disgrace FROM page two DEPLORABLE: Human waste, graffiti and trash were shown to pervade the restrooms assigned to the Nassau Street court complex.
By CHRISTOPHER TOOTHAKER, Associated Press CARACAS, Venezuela Thousands of government supporters jammed into a plaza Sunday to protest U.S. sanc tions against Venezuela's state oil company, the latest in a series of demonstrations encouraged by President Hugo Chavez to invoke nationalist sentiments. Chavez backers waving Venezuelans flags and chanting, "The people, united, will neverbe defeated!" marched from several points throughout the capital and converged on a downtown plaza where they listened to officials condemn the sanctions against Petroleos de Venezuela SA, known as PDVSA. "Nobody messes with Venezuela," Energy Minister Rafael Ramirez told the crowd. "Venezuela must be respect ed." Ramirez has said shipments of heavy crude to PDVSA's U.S.-based subsidiaries will con tinue, but the company cannot guarantee shipments to nonaffiliated private oil companies. Under the sanctions, PDVSA will be barred from any U.S. government contracts, U.S. import-export financing, and export licenses for sensitive technology. But it will not be banned from selling oil to the United States or dealing with its U.S. subsidiaries. Venezuela is one of the United States' main suppliers of petroleum, and the U.S. is the South American country's chief oil buyer. Under Chavez, PDVSA has sought to diversify its clientele, exporting more to China and other countries. Ramirez has hinted the oil company could seek to accelerate those initia tives to further reduce Venezuela's dependence on the United States. President Barack Obama's administration slapped sanc tions on PDVSA and six other companies from other countries for doing business with Iran. The State Department said PDVSA delivered at least two cargoes of refined petroleum products worth about $50 mil lion to Iran between December and March. Chavez's opponents have also criticized the sanctions, but Chavez and his supporters have portrayed them as anti-patriotic U.S. flunkies who applaud the measures. "They are pawns of the empire," said protester Edgar Torres, using a term Chavez and his supporters often employ to describe the U.S. "They don't care about our country." Chavez's leftist-oriented government relies heavily on PDVSA's annual revenues of about $4 billion to fund its social programs for the country's poor. Industry analysts say the sanctions probably won't significantly cut into PDVSA's business because Washington is not preventing the company from selling crude to the United States or through Citgo, its U.S. subsidiary. By AVA TURNQUEST Tribune Staff Reporter firstname.lastname@example.org T HE compassion of a Bahamasair pilot, and determination of a disabled traveller, has effected changes to the airlines operational policy concerning animals w ho assist persons with disa bilities. All types of assistance dogs used by disabled persons are now allowed to t ravel onboard Bahamasair p lanes with their handlers, a ccording to traveller, Davis Hawn who suffers from Post Traumatic Stress (PTSwho was allowed to take his dog Booster onboard his Bahamasair flight to Cuba. The warm reception I r eceived in the small nation w ith the big heart (Bahamasre-instilledmy f aith in my fellow man, Mr H awn said. It gave me the c onfidence to go forward into a new foreign country (Cuba I n the past, only guide dogs which assist blind persons were allowed tofly inside the cabin, accordi ng to Mr Hawn. Mr Hawn is a resident of Pass Christian, Mississippi a nd owns a timeshare unit i n Grand Bahama. He e xplained that he developed a relationship with Bahamas air, specifically pilot Vinc ent Beneby, as a frequent visitor to the country. After he explained his condition, and the need forB oosters continued pres ence, Mr Hawn said Capt Beneby immediately grante d him approval. Captain Beneby took m e under his wing and made this all possible, he said. Thanks to Captain Beneby and the Bahamian people t hat have given me so much m ore than they will ever k now. M r Hawn later penned a l etter, at the request of Capt B eneby, which explained the broad range of services that can be provided by assis-t ance dogs and included published work on the topic. The letter led to the change in operational policy. I n an e-mail sent to Mr Hawn, Capt Beneby said: Thanks to you (Mr Hawn B ahamasair has made a c hange in our Operations M anual, to make it very easy for anyone with a serviced og or service animal to t ravel. In the future, whenever your reservations are made, you only need to mention that you will be travelling with a 'Service Dog' and you will receive the royal treatm ent. I am extremely delighted to note that you had a s uccessful trip to Cuba, said M r Beneby in the e-mail correspondence with Mr Hawn, and we at Bahama sair are happy to have cont ributed to the success of y our trip to Cuba. I believe that I represent thousands of Bahamians, who would have done whatever they could, to m ake you and Booster comf ortable, added Mr Beneb y. M r Hawn turned to B ahamasair in March, after h e was turned away by a Cuban airline that refused to allow Booster in the cab-i n. As a graduate student majoring in Canine Studies, Mr Hawn needed to travel t o Cuba to complete a research project for his degree. All bets were off, said M r Hawn, it wasnt possi b le. But two things made it possible, and both of themi nvolve coming to the B ahamas. An advocate for increased awareness towards the use and importance of assistance dogs, Mr Hawn had his first public speaking engagement in the Bahamas d uring the 2010 Disability w eek. Along with Booster, Mr H awn demonstrated the b enefits of assistance dogs during an address to the Bahamas National Council for Disability. T he pair also appeared o n many television programmes, including Bahamas at Sunrise and Conversations with Etoille Pinder. The Bahamian people gave me the confidence to a ssociate with people again i n my life, said Mr Hawn, w ho suffers debilitating fear due to his illness, and gave me the confidence to believeI can go forward with my dog and communicate my m essage. W ithout that confidence, h e added, I would never h ave had the courage to go i nto a country like Cuba. LOCAL NEWS T HE TRIBUNE MONDAY, MAY 30, 2011, PAGE 7 UDLQ\GD\V EHVWURQJ EHVWURQJ EHFDXVH VXQZLOOVKLQH VXQZLOOVKLQH a a Bahamasair eases travel policy curb on animals who help people with disabilities Traveller with Post Traumatic Stress allowed to take dog on board A POLICE patrol car was involved in a crash with a private vehicle atP aradise Island yesterday. T he collision, which involved a Ford Explorer, occurred at the traffic light shortly after 8am. Last night, officers within the traffic division remained tightlipped overt he details concerning the a ccident. Investigations were said to be continuing. P olice patr ol car involved in crash V enezuelans protest US sanctions against oil co. n OVERSEASNEWS POLICYCHANGE : Bahamasair.
By SIR RONALD SANDERS ( The writer is a Consultant and former Caribbean diplomat) M A Y 26th marke d 45 years s ince Guyana became independent. During that time other countries, such as Malaysia, Singapore and the Maldives, that had been far behind Guyana in develop-m ent have surpassed it. So, while this sprawling country, larger than Englanda nd rich in natural resources, marked its 45th year as an independent nation better economicallyt han it was a decade ago, it should have been much better developed and far more prosperous than it now is. But, much has been a chieved economically in the l ast decade prompted by the f orgiveness of Guyanas debt under the Highly I ndebted Poor Countries programme which allowed the government to secure loans for spending on infrastructure and some better-m ent of wages and pensions. It also allowed the government to improve the climate for investment through a reformed tax strategy. T oday, Guyanas econom y is one of the strongest in t he Caribbean and as its President Bharrat Jagdeo o bserved, the country is now enjoying its sixth consecutive year of strong economic growth and has been one of the fastest grow-i ng economies in CARICOM every year since 2 006. These statements are supported by the InternationalM onetary Fund (IMF whose reports indicate that b etween 2006 and 2010, Guyana enjoyed average economic growth of 4 perc ent an enviable achievement among CARICOM c ountries, the majority of whose economies have contracted especially since the global financial crisis that s tarted in late 2008. Debt F ew would dispute that the two decades between 1976 and 1996 were losty ears for Guyana a period when, despite its vast natur a l resources, the country experienced high debt, collapse of social and physicali nfrastructure and largescale migration of its best e ducated people. The economic decline came in the wake of the nationalisationi n the 1970s of much of the productive sector of the country the sugar, bauxite and banking industries for which it was punished by thei ndustrialised nations and the institutions such as the IMF which they controlled. Improvements in the post1996 period had its founda-t ion in an Economic Recovery Programme introduced by the then governmenth eaded by President Desmond Hoyte. S ome may argue that the decline of national cohesion began even earlier and wasp articularly evident between 1962 and 1964, when racial riots and civil strife marred the country leaving a bitter legacy that continues to bet he silent poison that runs through the body politic of the nation. At independence Guyana was hardly one nation. It was more two societies coexisting with no appetite to return to past racial disturbances. But, it would be untrue to say that, at the time, the country, as a whole, had overcome its racial divide in fulfilment of its national motto, One people, One nation, One destiny. This is still evident today in thef act that the main platform of the smallest of the three main political parties, the Alliance for Change (AFC expresses the belief that, ifG uyana is to meaningfully experience the notion of independence, it must adopt considered measures to cultivate and husbande thnic unity and harmony. The main opposition, Peoples National Congress/Reform (PNC/R puts it less frontally, by itso wn statement that Guyana w ill attract investment to b oost its economic development when an image is pres ented to the world of a united, reconciled, purposeful and serious nation. N onetheless, it would also not be true to say that racial d ivision remains a hallmark of the daily lives of the Guyanese people. No suchd ivision is evident among most people under the age o f 30 who have no living experience of racial strife and are far more integratedt han previous generations as a result of modern communication, access to global information, and a growing common culture. T he two main political parties the opposition PNC/R and the ruling Peo-p les Progressive Party/Civic (PPP/C c eived to be rooted in race with the formers support coming from people of African descent and the latters from people of Indiand escent. One of the difficulties t hat each of these two main parties face in the upcoming elections for the Presi-d ency and membership of the parliament, is that neither of them has outstanding persons in their leadership who are of the other race.T hus, the PPP has no group of outstanding Africans amongst its leadership, and the PNC has no group of outstanding Indians amongi ts leaders. It is difficult to see how either party will succeed in securing the scale o f non-racial support that would make them truly rep resentative of all the people o f Guyana. This forthcoming election is a good opportunity for both the PPP and the PNC to broaden the base of theirs upport by placing credible persons of all races in lead ership positions. And, it should not be for tokenism, but for good polit ical sense and in the interest of the nation. For, until all the political parties are regarded as racially cohesive and representative, the fear of neglect on racial grounds will continue. Since the late 1970s and until recently, the economy of Guyana has been the sick man of the Caribbeanf alling second only to Haiti as the poorest country int he region. Much of that has changed, and the economyl ooks set to change for the better even more. This view is based not only on the economicg rowth of the last few years, b ut on Guyanas rich natura l resources, and the diversification of its productive b ase to exploit these resources more effectively. Twenty years ago, G uyana depended almost entirely on export earnings f rom sugar, rice and bauxite. Today, while these three commodities remain impor-t ant, the agricultural sector has been diversified and G uyana is now a net exporter of agricultural products. Its otherr esources, especially gold, will catapult the countrys economic growth in the future. Last year the country e arned US$346.4 million from gold, almost three times the sum it earned fromb auxite (US$114.6 m (US$104 m ( US$154.6 m). The countrys gold sector is set for catalytic investment on an unprecedented scale that will earn the country asm uch as US$1 trillion while introducing new technology t hat conforms to the high environmental standards that Guyana has set as parto f its policy to employ a low carbon development strategy. Manganese will also once again contribute to the economy. A nd then there is oil which, given all the positive studies, will eventually flow. A few weeks ago, Guyana received US$40 mil-l ion from Norway as payment for 8 million tonnes of carbon saved by preserving m illions of acres of Guyanas huge forests. Pres ident Jagdeo has indicated t hat the country can expect to receive in excess of a quarter of a billion dollars in similar transactions before 2015. M anaged efficiently, these revenues could trans form Guyana and allow it to recover from the lost years but they must also be distributed fairly and equitably through transparent machinery. Broad-based political parties in government and the legislature would be essential to that process. Responses and previous commentaries at: www.sirronaldsanders.com LOCAL NEWS PAGE 8, MONDAY, MAY 30, 2011 THE TRIBUNE Guyana: Recovering its lost years WORLDVIEW SIR RONALD SANDERS PRESIDENT BHARRAT JAGDEO
LOCAL NEWS THE TRIBUNE MONDAY, MAY 30, 2011, PAGE 9 The Mercedes-Benz C-ClassYour most enjoyable drive ever.T he Mercedes-Benz C-Class is a pleasure tobehold offering a new interpretation of driving pleasure. Its taut lines lend it an air of effortless superiority while the wide radiator grille and distinctive rear section announce a vehicle with a real presence and dynamic personality. Few cars can compete with its ability to adjust so many facets of its character from the interior to the drive technology so quickly and precisely in response toexternal conditions and your own particular needs. The key to this flexible response is the standard-fit Agility Control Package which includes selective damping. The interior offers noticeably more space and a more distinctive atmosphere tosuit your taste. As you will see, the C-Class is the perfect embodiment of the Mercedes-Benz philosophy.Tyreflex Star MotorsWulff Road, P. O. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 Fax 242.323.4667OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY. By MIKE LIGHTBOURN A PPLYING for a mortgage can be difficult. With concerns about reduced work hours and job loss, some purchasers who would have q ualified for a mortgage a few short years ago may find they are u nable to meet todays criteria. H owever, a motivated vendor may be able to help out. T he first hurdle to clear is finding a property you like thats owned by a motivated vendor. Some owners of vacant property might even be willing to finance the sale outright. The next step is to see if your BREA agent may be able to negotiate a lease-to-own option. Heres how it typically works: A portion of the monthly rent is held in escrow, where it builds up for a portion of an eventual down payment on the home. If you think about it, this is a fairly easy way to save money for you to place a down payment on a home. Within a stipulated period of time, you will have saved enough to secure a loan and complete your purchase. This process usually takes two to five years. Of course, most vendors will probably want to be paid the full sales price up front. However, once they understand the process, some vendors like the idea of receiving regular income with the full price of the sale yet to come. You might say its the gravy o n the meat. Y oull never be able to recover your rent, but a rent-to-own o ption will help you build equity while youre making those monthly payments (as if you were paying a mortgage expect this to be a common occurrence since your agent will have to find the right scenario before it will work. Your BREA agent will be happy to negotiate for you once a suitable property is found. The agent is paid a rental commission and then a sales commission once the sale has closed. Think about it. (Mike Lightbourn is president of Coldwell Banker Lightbourn Realty). CREATIVE FINANCING Bahamas real estate today M ike Lightbourn By CONSTABLE 3011 MAKELLE PINDER Armed robbery is one of the most serious and potentially dangerous crimes committed today. A robber commits a holdu p because he or she b elieves that their profit will be worth the risk. By decreasing the possible profit and increasing the risk ofa pprehension, potential businesses can reduce their chance of becoming a tar-g et. Businesspersons must face the possibility of rob-b ery on their premises realistically, and they should make security training a high priority. Y ou can avoid becoming a v ictim of such crime by adopting the following crime p revention measures prov ided by the Royal Bahamas Police Force National Crime P revention Office: Before A Robbery Greet everyone who e nters your business. Keep doors and windows clear of signs and posters toa llow good two-way visibility. Use video surveillance a nd make it well known. Make bank deposits at least once a day. P lace a surveillance camera behind the cash register facing the front counter. I nstall an emergency (panic Make your sales counter c learly visible to observers. A clean environment is good for business and uncomfortable for robbers. Keep your business welll it inside and outside During a Robber y Stay calm and dont resist! D o as instructed. Dont make sudden moves. Keep your hands in sight a t all times. Get a look at the robber but dont stare. I f safe Get a descrip tion of the robbers vehicle and direction of travel. A ctivate the panic alarm ONLY when its safe. Personal safety first! M oney and merchandise are not important. Dont chase or follow the r obber out of your place of business. Let the police catch the robber! After A Robbery Close the store and lock the doors. C all the police; even if the alarm was activated. Dont touch anything the robber may have touched. Ask witnesses to stay u ntil the police arrive. Only step outside when t he police arrive and cont act you via telephone. Call your business owner, m anager or other designated p erson. Tips U se a drop safe that is s ecured to the floor. Post signs indicating limi ted cash on hand. P rofessionally install security cameras to capture the b est images of the suspects. T rim landscaping for good view into and out of y our business. S hould you be a victim of crime, please do not resist b ut take note of the descript ion of the culprit e.g. his appearance, clothing, height, physical details and the direction or mode of escape.C all the Police as soon as it i s safe to do so. If you come across any s uspicious person(s i ng around your business or have any information per t aining to any crime, please do not hesitate to call the police at emergency number or Crime Stoppers at 328-tips (New Providence), 1-300-8476 (Family Islands BUSINESS ARMED ROBBERY PREVENTION TIPS Royal Bahamas Police Force National Crime Prevention Office CONSTABLE 3011 MAKELLE PINDER with her mother in the straw market selling straw w ork to tourists as a child, before later going on to become an MP and the first woman minister of national security in The Bahamas and perhaps the only woman of colour to come from such abject poverty and reach high office, she sug g ests. The book seeks to impress upon readers that if she can attain that which she has, then anyone can. Theres been ups and downs and I want them to see some of these things. Because for manyp eople, if they had to go through what I went through, theyd have given up, but I didnt. With some of the young people who have not had opportunity to be brought up but bringing themselves up, this is a good time for them to read this book to know there are others with same kinds o f struggles who didnt resort to violence, prostitution, stealing. Thats the message I am trying to get across, said Mrs Pratt. The former cabinet minister is excited about the prospect of further impacting the lives of Bahamian youth. If she has one regret in relation to the book, she suggested, it is that her husband, who was instrumental in helping her formulate and write it, did not live to see her complete and publish it. He was behind me for some time, urging me on to complete it, I just didnt have the timeb ecause I was wearing so many hats. I believe he was trying to tell me something, that is to say t hat he would not be here. Now it is a reality it r eally makes my heart full. I know he wouldve liked to be here to see that happen, said Mrs Pratt. The book is currently available from 100% B ible Bookstore on Madeira Street in Palmdale. Meanwhile, Mrs Pratt said she is anticipating a n opportunity to present copies of the book to the Ministry of Education for distribution in schools, and has also secured large orders from churches throughout New Providence. Outside of The Bahamas, Kentucky State University and St Augustines College in Raleigh, North Carolina, are also expected to obtain copies of the book for their students edification, said the MP. Mrs Pratt said that her next book will focus on her political life, and the particular advantages and disadvantages of being a woman in publicl ife and leadership. There will be advice for women who may be looking to enter politics. You have to be a quick learner, a good listener and make sure you dont make the same mistake twice. You also have to be certain that your family is standing with you, even if no one else is standing with you because hard times will come, said Mrs Pratt. Mother Pr att launches her first book FROM page two
LOCAL NEWS PAGE 10, MONDAY, MAY 30, 2011 THE TRIBUNE Murder count climbs to 50 My neighbour was walking through the yard and she called to him, telling him to get up and go inside. He didn t respond and so she k nocked on my mothers w indow. Thats when we came out and realised that he was dead, she said. Police say that they received a report of the incident shortly after 7 am on Saturday. According to police, when officers arrived at the scene they discovered Millers lifeless body in thed river seat of a gray car with multiple gunshot wounds to the body. Justice needs to prevail, a ll this killing going on is s enseless, Ms Algreen said. Millers mother, Rosemarie Bain-Deal, while admitting that her son had a checkered past said that she was deeply saddened by her sons death. I am very much hurt. Its a different, s trange feeling, she said. Fidel was my last boy, he was loved by the young and the elderly. He had his problems, but I thank God for the 31 years he was here with me. Miller who leaves behind a 10-year-old son, worked primarily as a mechanic a ccording to his mother. P olice are uncertain of the c ircumstances surrounding this incident and are appealing to members of the public who may have any information to contact them at 911 919 the Central Detective Unit at 502-9991 502-9910 or CRIME STOPPERS at 3 28-TIPS In 2010, the country recorded its 50th murder in July when 60-year-old Veronica Knowlesa taxi driver on Long Islandwas discovered dead with injuries to her head in bushes near Salt Pond. FROM page one o n principals was a bit too much for them in that a lot of them were not properly trained t o be accounting officers and that is basically what we were asking them to do. What we s ought to do then was remove that financial burden from principals, allowing them to manage the schools. O ne of the key elements as in any school, u niversities and other schools abroad, you h ave an accounting area or bursary. So we are removing those duties from the principala nd allowing the bursar to take full financial m anagement of the school, because the schools are now generating a lot of revenue, said a source. In addition to government allocations for school boards, public schools maintain other revenue generating accounts that sometimes generate hundreds of thousands of d ollars. Last year, one high school generate d $200,000 in revenue just from its tuck shop that sells juice, sodas and hot dogs, among other snack foods. For some schools,t heir self-generated revenue is more than t he government allocation. Administr ator s When school administrators were given r esponsibility to manage their other revenue generating accounts, the government did not anticipate schools would generate the volume of funds they do today, particu-l arly from tuck shops. General account principles were not always followed in deal ing with these accounts, because there was n o uniform policy or guideline for schools to f ollow. The principals developed a generic approach. There was no accountability because there was no mandate to bea ccountable. (Their perspective was raised the funds and we spend it. If I need to buy a phone for the principal, some phonec ards or lunch for teachers, whatever I need t o do with these funds I do, because there were no guidelines, said a Tribune source. Bursars will only be staffed at high schools to begin with. Eventually the gov ernment plans to create the post at junior high and primary schools. The move is intended to increase the overall fiscal man agement of schools. Although school boardf unds are heavily regulated, the government h as found that schools are strained with implementing the proper proceduresb ecause they do not always have the techn ical know-how. We said to the principals, you are now the accounting officers. We expect you to produce financial statements and expendi t ure reports; we expect you to do record keeping; we expect you to have staff employed to manage the tuck shop and whatever else. You know all of that is an accounting department function and duty. So we have been grossly unfair to the principals to put all of that mandate on them anda sk them to perform. So there you would f ind their shortcomings. So when the audi tors come to the schools, to look at their financials, they are actually going to audit persons who have not been trained to carry out those duties; persons who have little experience. Some of them can hardly balance their own cheque books, said thes ource. All of this is expected to change with the coming of the new school year, as each pub lic high school is set to have a new bursar. FINANCIAL DUTIES IN PUBLIC HIGH SCHOOLS TO BE TRANSFERRED TO ACCOUNTING PROFESSIONALS FROM page one Intensive Care Unit at Rand Memorial Hospital for treatment following the shooting. His death brings to four the number of homicide cases now being investigated by police in Grand Bahama. Police have expressed concern about the level of violent and illegal activity in the Garden Villas, Freeport, in the wake of the shooting of Mr Anopolis. The first of the series of shootings, which culminated this weekend in the death of Mr Anopolis, occurred on March 7, when 42-year-old Patrick Russell, of Lewis Yard, was discov ered shot to death in his car at Weddell Avenue. The second incident occurred on May 8, when 31-year-old Kiano Martinborough was discovered shot in the head at Weddell Avenue. He was taken to hospital where he later died. No arrests have been made in any of the shootings, howev er police investigations are continuing. Anyone with information that can assist the police are asked to call 911 352-9774/5 or 350-3107/8 SHOO TING VICTIM DIES FROM INJURIES TALISAY, Philippines More than 800 tons of fish have died and rotted on fish farms in a lake near Taal volcano south of Manila, with authorities blaming it on a sudden temperature drop. The massive fish deaths started late last week but have eased. Officials have banned the sale of the rotting fish, which are being buried by the truckload in Talisay and three other towns in Batangas province, Bureau of Fisheries and Aquatic Resources official Rose del Mundo said Sunday. The deaths are unrelated to recent signs of restiveness in Taal volcano, which is surrounded by the lake where many villagers have grown milkfish and tilapia staple foods for many Fil ipinos, officials said. The volcano and lake are a popular tourist draw. Government volcanologist Allan Loza said Monday that 115 earthquakes were detected in Taal in the past 24 hours compared to an average of 10 to 15 quakes daily in recent weeks, a sign that magma is rising from within the small volcano. Such unrest has been monitored since April, long before last week's fish deaths, he said. FROM page one OVERSEAS NEWS 800 tons of fish die, rot on Philippine fish farms
f rom the company in 1999 benefits the union had suggested it would demand for employees in this latest exercise. Mr Evans said he has reason to believe the separation packages are likely to be formally offered to employ-e es within the next couple of weeks. Overall it could have been better, but the beauty of it is that it is not mandatory. If it were mandatory it would be another matter, said Mr Evans of the voluntary separation packages. He said the union will not be pushing for greater benefits to beo ffered in the packages for this reason b ut will instead be focusing on negotiating the pivotal and very crucial industrial agreement governing relations between BTC and staff under the newly-privatised entity. Cable and Wireless Communica tions, which purchased 51 per cent of BTC from the Government in April 2011, have committed under the termsof their agreement with the Govern ment to engage only in voluntary downsizing of employees for the first three years of their management and majority ownership of BTC. In last weeks Tribune, it was exclusively revealed that under the terms of the packages for BTC workers negotiated between BTC, the BCPOU and the managers union, the BCPMU, all employees at BTC under the age of 45 years will be offered the chance to leave the company with a minimum of five weeks pay for every year on the job up to 104 weeks in total. Employees between the ages of 45 and under 50 will be offered the same five weeks per year up to a cap of 110 weeks, and people ranging from 50 but under 55 will be offered 5 weeks salary for every year of employment up to a cap of 75 weeks. Those in the range from 55 years to 58.5 will receive the same offer up to ac ap of 68 weeks, with persons ranging from 58.5 and under 60 will be prorated from 68 weeks based on the number of months remaining to the age of 60. These packages, it was said by sources close to the matter, are expect ed to be offered to all employees with the expectation that BTC's current staff levels could be reduced by at least 400 people. Medical According to a powerpoint presentation prepared for the company's executives, the report suggests that no person in the age group 45 to 50 will receive less than six months incentive payment. In addition the company appears to be willing to continue the cost of Medical coverage payment for all age groups for one year, with out placement/training services to be provided. On Friday, BTCs Vice President of Sales and Marketing, Marlon Johnson, declined to comment on the details of the packages revealed by The Tribune, telling this newspaper only that the company would make a statement on that. Y esterday Mr Evans said that BTC is e xpected to hold a press conference today to announce the packages. However, the union President sugg ested he has yet to see the full details of the packages, despite having been engaged with BTC for about a month in negotiations over them. Once we get the full details we will have a better idea of how it will affect each individual, he told Tribune Busi ness. A sked if he feels many people will accept the packages and leave the company, Mr Evans said it is hard to say at this stage. M r Evans said the union is keen now t o focus along with the company on finalising a new industrial agreement for employees at BTC. He said a proposed agreement put forward to the company recently has yet to receive a formal response. He said the industrial agreement will be very, very different to the previous one governing relations between workers and the company. Its going to be very, very focused and determined on ensuring we have protection for our members. Its a piv otal and very crucial first industrial agreement under the partnership agreement with a private entity (CWC scape. They will be trying to streamline and cut back as much as possible. I am looking forward to the challenge we think it will be. We know theres an exclusivity period (during which time BTC holds the monopoly on cell phone service and which coincides with the agreement to keep staff reduction on a voluntary basis) and so we know that theres supposed to be no mandatory downsizing up to April 2013, so all of our energies will be on the protection of our members. LOCAL NEWS T HE TRIBUNE MONDAY, MAY 30, 2011, PAGE 11 FROM page one BTC SEVERANCE DEALS FALL SHORT OF UNION HOPES it was Anton Sealey, President of the Bahamas Football Association, who leda group of Caribbean football officials who exposed a n alleged attempt by an a spiring President of the I nternational Federation of Football Associations to bribe regional officials with $40,000 each to support his p residential bid. Q atari President of the A sian Football Confederat ion, Mohamed Bin Hamm am, along with FIFA Vice P resident, Trinidadian Jack Warner, and the long-standing current President of FIFA, Sepp Blatter, were preparing to face a FIFA ethics committee hearing over the allegations. Howe ver, although investigations w ill go ahead against Hamm am and Warner, all accusations have been dropped a gainst Blatter. Mr Sealey was not available for comment yesterday, according to his wife, as he remains in Zurich, Switzerland, where FIFAs headquarters are located. The c orruption claims highlighted by him and his fellow Caribbean Football Union o fficials are the latest in a s eries of claims of ethical m isdemeanours by FIFA executives, among them suggestions that officials accept-e d bribes for votes on which countries should host future world cup tournaments. A ccording to the corrup t ion probe dossier seen by the Telegraph, Mr Sealey and up to 25 Caribbean Football Union (CFU cials were offered envelopes containing $40,000 in cash, split into four $10,000 stacks of $100 bills at a C FU meeting in Warners native Trinidad on May 101 1 in an alleged effort by B in Hammam to persuade them to vote for him in this w eeks FIFA presidential e lection. They were allegedly told not to tell anyone about the cash, not to discuss the cash with the others and not to show anyone the money. A corruption probe was i nitiated after at least four o f the delegates apparently refused the cash and reporte d the incident to FIFA e xecutive committee mem ber Chuck Blazer, who engaged former US federal p rosecutor John P Collins to conduct a full investigation. The Telegraph reports that the whistle-blowers who went to Mr Blazer with the allegations were led by MrS ealey. Mr Sealeys claims are backed by statements from the Bermuda, CaymanI slands and Turks and Caicos Islands Football A ssociations, the dossier shows. T he current President of F IFA, Sepp Blatter, was drawn into the ethics investigation after it was alleged by Mr Warner that he was a ware of the payments to t he CFU and had raised no objections. Mr Warner and Bin Hamm am have denied wrongdoing. Bin Hammam claimed t he allegations are a conspiracy designed to derail his chance to be FIFA President in Wednesdays presi dential election. Last night international media reporte d that he has ended his bid f or the presidency in the w ake of the allegations. H owever, FIFA will open a full blown investigations into the accusations against Hammam and Warner. Sepp Blatter, of Switzerland, FTFAs current presi d ent, will not be investigated because he knew nothing of t he payments. He will stand unopposed for re-election on Wednesday to continue in a job that he has held for 13 years. BAHAMIAN WHISTLE-BLOWER IS PRAISED FOR EXPOSING FIFA SCANDAL FROM page one P RESIDENT OF FIFA, SEPP BLATTER Its a pivotal and very crucial first industrial agreement under the partnership agr eement with a private entity (CWC changes the landscape.
LOCAL NEWS THE TRIBUNE MONDAY, MAY 30, 2011, PAGE 13 FNMs Grill and Chill Mini Fair ALLSMILES: FNM Leader, Prime Minister Hubert Ingraham greets excited youngsters at the Free National Movement's 40th Anniversary Grill & Chill Mini Fair,on Heritage Park, Arawak Cay on Saturday. (FNM Photo T i m C l a r k e / T r i b u n e s t a f f
By ALISON LOWE Business Reporter a email@example.com A US investor with d ecades of agricultural p roduction experience has received approval to set upa large scale chicken operation in NorthA ndros, which he projects will involve a $14 million investment. I n a brief interview on Friday, Robert L. Parker told Tribune Business the chicken farm will be a major and a good project f or Andros that will employ a lot of people. Minister of Agriculture, Larry Cartwright, con firmed that Mr Parker had received government approvals to go ahead withh is chicken production i nvestment in around autumn 2010. Yesterday,Mr Parker said he remains little bit short of mon ey but soon anticipates he will have the total financ ing in place to move ahead. I n the meantime, Mr Cartwright said the Department of Agriculture has been involved in an effort to try to locate the ideal property in North Andros for Mr Parker to develop his farm on. He is to lease Crown Land from the Government for the project. The area he was inter ested in is not available, explained Mr Cartwright, who added that it is likely the farms chicken wouldbe produced primarily for export, since the produc tion of agricultural products in the Bahamas is reserved for Bahamians. He noted, however, that concessions can be made for providing to the local market. Mr Cartwright described Mr Parker as having a wealth of knowledge in poultry production. $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.59 $5.54 $5.65 T HETRIBUNE SECTIONB firstname.lastname@example.orgMONDAY, MAY 30, 2011 By NEIL HARTNELL Tribune Business Editor Regulators have left the door open to reversing the previous block allocationo f wireless spectrum to Systems Resource Group (SRG would only be justifiable in e xceptional circumstances, while also rejecting spectrum trading proposals. Unveiling the results of its c onsultation over the open ing up of new spectrum bands, the Utilities Regula t ion & Competition Authority (URCA munications industry playe rs that it did not consider i tself bound by decisions taken by its predecessor, the Public Utilities Commission (PUC sistent with international best practices. It said it will only award 100 per cent capacity in a spectrum band to a single operator in exceptional cir cumstances, with the company having to prove sucha step was in line with international best practices. URCA had asked the sec tor whether it agreed with its position that no single operator be awarded an entire spectrum band unless in exceptional circumstances. In response, the Bahamas Telecommunications Company (BTC overturn a PUC decision that had granted SRG a block WiMAX spectrum allocation, namely 190 MHz in the 2.5 GHz band. It also claimed that SRG had more spectrum than it could allegedly use efficiently through the en masse assignment of two frequency bands. BTC's biggest current spectrum issue with URCA is the en masse assignment of WiMAX frequencies toa competitor, SRG, who have been assigned the bands 2150-2162MHz and 2500-2690MHz, the newlyprivatised incumbent said then, branding this anti-competitive. SRG hit back by alleging that past spectrum alloca tions in the Bahamas appeared to favour BTC. Regulators pave way to overturn SRG block award URCA says award of entire spectrum band only justifiable in exceptional circumstances* Rejects Cable and BTCs spectrum trading proposal* Says will not be bound by PUC decisions SEE page 7B By NEIL HARTNELL Tribune Business Editor The Court of Appeals president has called upon Parlia ment to address a grey area/loophole in the law con cerning the rights of third parties under contract, after a majority verdict struck out a couples claim against a contractor, finding they could not recover losses on behalf of a company they owned. The verdict, which is likely to interest not just parties to construction contracts, but those involved in all forms of such commercial agreements, found that David and Melissa Solomon were unable to recov er damages from contractor Jason Thompson because he was unaware, from the original contract, that the land upon w hich the construction occurred was owned not the couple but a company they beneficially owned. Brian Simms QC, head of lit Lennox Paton QC wins verdict that couple cannot recover losses on behalf of company they own because its existence as land owner was not disclosed to contractor PARLIAMENT URGED: ADDRESS 3RD P ARTY RIGHTS IN CONTRACTS ANITA ALLEN SEE page 7B By NEIL HARTNELL T ribune Business Editor T he Government-spons ored venture capital fund i s set to request a further $2 m illion injection from the Ingraham administration to help fund another five-six ventures in the pipeline, its chairman telling Tribune Business there were no plans to discontinue publ ic funding. W hile concerns have been expressed in some quarters t hat there was no line item i n the 2010-2011 Budget s pecifying the annual $1 million injection that the Bahamas EntrepreneurialV enture Fund traditionally received from the Government, Michael Cunningham said this had been the practice for the last two to three years, the funds being bound up with other forms of small and medium-sizedb usiness assistance. His comments came as Edward Rolle, the funds administrator and manager of Baker Tilly Gomezs corporate department, told Tribune Business that the B ahamas Entrepreneurial Venture Fund was seeking a further $2 million in gov-e rnment funding to support five-six business ventures it had deemed worthy of backing. Were addressing, requesting additional funds Venture fund seeking $2m Wants additional government injection to help finance further five-six projects deemed worthy of support $3.5m invested in 53 Bahamian start-ups to date, $2.2m as debt and $1.3m in equity Delinquency ratio at 50%, with Fund focusing on balance sheet clean-up and provisions recently No plans to end government funding S EE page 8B By ALISON LOWE Business Reporter email@example.com A renewable energy consulting firm believes the Bahamas i s well-positioned to benefit from offsetting carbon emiss ions, with BISX-listed Bahamas Waste receiving $50,000 in carbon financing so far for its green efforts. In doing so, it has become the first Bahamian company to be recognised for its carbon offsetting measures, and to receive so-called carbon financing in return. The first tranche of the money helped the company set up its $1 million biodiesel facility, and another $50,000 award is expected o nce Bahamas Waste has achieved a certain amount of b iodiesel production. W ith assistance from Cape Eleuthera Systems, the cons ulting arm of the Cape Eleuthera Foundation and the I sland School in Eleuthera, Bahamas Waste, was recog n ised by Pioneer Carbon Trading for its efforts to create biodiesel from waste cooking oil that would otherwise have ended up in the public landfill. The financial support it receives for its carbon offsetting is higher than might be otherwise, as the biodiesel project meets the criteria that enables resulting credits to be sold as gold standard. This is a premium quality and higher valu e credit attached to those whose carbon offsetting not BAHAMAS WASTE GETS $50K CARBON FINANCING Bahamas has a lot of potential to benefit from emission offsetting SEE page 8B ANDROS TARGETED FOR $14 MILLION CHICKEN FARM L ARRY CARTWRIGHT
B y RoyalFidelity Capital Markets It was a slow week of trading in the Bahamian stock market. Investors traded in eight out of the 24 listed securities, with one advancer and one decliner. E QUITY MARKET A total of 5,662 shares changed hands, representing a decrease of 17,606 shares compared to last week's trad-i ng volume of 23,268. C olina Holdings (CHL w as the big advancer, trading a volume of 3,150 shares to climb by $0.25, its stock closing at $2.80. F idelity Bank Bahamas ( FBB) was the decliner for t he week, trading a volume of 1,000 shares to see its share price fall by $0.19 to close at a new 52-week low of $1.77. Cable Bahamas (CAB t raded a volume of 251 shares, remaining unchanged to close at $8.74. FirstCaribbean International Bank (CIB volume of 240 shares, remaining unchanged to close at$ 8.60. Commonwealth Brewery (CBB to the exchange, traded a volume of 100 shares, remaining unchanged at $8.33. BOND MARKET No notes traded during last week. C OMPANY NEWS E arnings Releases: Fidelity Bank Bahamas (FBB financial results for the quarter ended March 31, 2011.F BB reported a net income of $1.1 million, compared to a loss of $142,000 reported in the comparative quarter in the prior year. Net interest income increased from $2 million int he 2010 first quarter to $3.1 million in 2011, or by 54 per cent, while non-interest income showed a slight increase of $217,000 in comparison to the prior year. The bank experienced a decrease in its loan loss provisions, which totalled $31,000c ompared to $243,000 in the p rior year, a decrease of $ 212,000. FBB's earnings per share increased to $0.037 compared to a loss per share of $0.005 in the previous year. T otal assets and liabilities as at end-March 2011 were $306 million and $270 million respectively, compared to $282 million and $247 million as at December 31, 2010. F inance Corporation of Bahamas (FIN unaudited financial results for BUSINESS PAGE 2B, MONDAY, MAY 30, 2011 THE TRIBUNE ATLANTIC MEDICAL INSURANCE CO.LTD. Atlantic House,2nd Terrace & Collins Avenue,P.O.Box SS-5915,Nassau Tel.326-8191 Suite 5,Jasmine Corporate Center,East Sunrise Highway,P.O.Box F-42655,Freeport Tel.351-3960A member of Colonial Group International:Insurance,Health,Pensions,LifeA health plan with Atlantic Medical protects you from large out-of-pocket bills.Atlantic Medical offers the richest benefits package for your money and a fast claims service.It is appreciated by members and providers.So why choose a health plan where benefits and choice have been reduced to maintain the price? After all, isnt health care all about choice,value and service? With Atlantic Medical,you receive protection from potentially huge bills: Stop loss protection (including out of network charges) Low deductibles and no hidden deductibles Direct billing,dedicated in-house claims department Widespread I.D.card acceptanceCall 326-8191(Nassau) or 351-3960 (Freeport) or visit www.cgigroup.bm Colonial Group International is rated A-(Excellentby AM Best. Premier HealthWhy pay your health premium and risk large bills too? Your wealth is protected with Atlantic Medical. RoyalFidelity Market Wrap SEE page 9B
By ALISON LOWE Business Reporter firstname.lastname@example.org Super Value president Rupert Roberts h as praised the Government for some bigg ie reductions in duty rates on high volu me popular food and grocery items, suggesting the cuts will not only benefit consumers but also his own bottom line, as lower prices mean higher consumption. Mr Roberts suggested he would be ordering an extra inventory of items that now have diminished tariff rates, and will launch a special marketing campaign to raise public awareness of the retail price cuts that will result. The businessman, whose company has 10 stores throughout New Providence, said he feels the Government picked good items to reduce if they were hoping to provide some relief to the cost of living for the average Bahamian. The poor people are struggling. They w ant more for less to put in the pot. I think [ the Government] picked a good selection of i tems to do that, Mr Roberts said. H owever, he noted that consumers should n ot expect to see retail price cuts equivalent to the duty rate reductions announced by the Prime Minister up to 45 per cent reductionsi n some cases as duty only constitutes one component of the retail price structure. He added that freight costs on his most recent shipment of chicken were one third m ore than on the previous one, meaning that his ability to pass on savings to customers based on the duty reduction is dimin-i shed somewhat. Meanwhile, recent shipments of goods such as washing-up liquid, on w hich the higher 40 per cent duty rate was paid, will continue to be sold for the higher price that is necessary to recoup expenses. M ore immediate reductions will be seen in perishable goods such as meat and fresh f ruits. Duty rates on all fresh fruits were reduced to zero, while duty on sliced/unsliced ham, turkey and beef also r educed from 40 per cent to free. Chicken was reduced from 40 per cent d uty to 30 per cent duty in the Budget r evealed last Wednesday by the Prime Min ister. With a recent study suggesting that B ahamians eat more chicken per capita than North Americans or Canadians, at 79 per cent of all their protein consumption, Mr Roberts suggested this particular reduction i s very significant. Thats a biggie, he said. Other particularly popular items that saw s ubstantial duty reductions in the Budget a re fresh fruits, sliced ham, ketchup and w ashing up liquid. We sold tons of sliced ham when it was 4 0 per cent duty, so now it is duty free well s ell tons more, said Mr Roberts. He added that Super Value typically brings in entire c ontainer loads of Joy brand dish liquid alone. These are very high volume items with c onsiderable reductions, said Mr Roberts. He said he was unaware of any duties being raised on grocery items in the Budget.T he tariff reductions took effect immedi ately on Wednesday of last week. By SIMON COOPER Res Socius A lthough Robin Hood was not a businessman, he was adroit at relieving wealthy people of their money and redistributing this as he saw fit. I have sometimes wondered why anybody would want to give a business a name like that, although many people ask me what Res Socius means, too. While I think of it, Res Socius means honest partner, which is how I believe a business broker ought to behave. I am not suggesting for a moment that any of the parties involved in Trans-Island Traders acquisition of Robin Hoods food retail interests have engaged, or will engage, in any skulduggery. But they are equally unlikely to be completely happy with the result if the deal is concluded. In my extensive experience of brokering sales of businesses, there is inevitably a huge divide between the expectations of the two parties. A seller is foregoing future income and wants to be able to bank as much compensation as possible typically up to seven years worth of future income.A buyer who has to shell out money hopes to be back in profit within a matter of a few years. So, given that neither Mark Finlayson, Sandy Schaefer nor Suresh Khilnani are likely to migrate across to the other side of the argument, what would be a fair way to agree the price to be paid? Traditionally, three different methods have been around for as long as people have been buying and selling businesses around the world, and believe me this stretches back into the mists of time. The Asset Method is similar to the way in which real estate brokers value fixed prop erty, and is often used when a business sold is little more than an empty building. In this case, Trans-Island Trading would not be acquiring fixed premises at all, but just the right to lease. The Market-Based Model is sometimes used when a similar business (for example, another branch of the same franchise chain) sold recently, too. This provides an independent base from which to take out and add back differences. In my experience, the Income Model is the most reliable of all three, provided that proven business numbers are available (which they surprisingly often are not). These figu res usually need adapting, too, because they often obscure the costs of depreciation, owner income and tax where this applies. In the end, though, the price paid is what the buyer is prepared to stand, not what the seller believes they ought to get. This is a true test of the two partys abilities to out-eyeball each other, and how genuine their interest is. The general trend is to pay between one and three times the adjusted annual net income depending on how stable the business actually is. I hope to be your Res Socius partner some day should you decide to buy or sell a business. However, I certainly do not have a crystal ball in this instance. I am going to sit back and see where this fascinating story leads. Why dont you pop by some time and tell me what y ou think? 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 form erly chief executive of a publicly traded investment company. He was awarded an MBA with distinction by Liverpool University in 2005. Contact him on 636-8831 or write to email@example.com. BUSINESS T HE TRIBUNE MONDAY, MAY 30, 2011, PAGE 3B n !"f b &$# ! r!# !# !" % # %!%!# f%" % bt ;\)TJIV[,ZQ^M %DQNLQJQDQFLQJDYDLODEOH Maximising the purchase price SIMON C OOPER Super Value boss backs biggie reductions in food tariff rates T he Bahamas Telecomm unications Company (BTC with its expanded call centre, all calls being handledb y one number seven days per week, 24 hours per day. "The BTC call centre, w ith all calls regarding all services being routed through a single number free of charge from any w here within the Bahamas, i s one more way BTC is improving service to our customers by making it more convenient," said Mar l on Johnson, vice-president of sales and marketing. "The number is easy to remember: Call BTC or 2255282." The single number call centre replaces more than 20 numbers that occupy a full services numbers pagein the telephone directory. There was a three-digit number you had to dial to report a phone out of order,a seven-digit number you called to change features on a mobile phone, set up VIBE, and another number t o inquire about a bill or talk a bout international roam ing? "In addition to making it easier to remember whatn umber to call and easier to do business, whether dis cussing roaming or toppingu p minutes, the call centre also means extended hours," said Mr Johnson. "There are representatives on hand 24-7 And all calls to the call c entre are free. They do not use up any minutes and there are no toll charges if you are calling from a Fam i ly Island." BTC will roll out customer service initiatives as it deepens its commitment to unparalleled customer service. As customers rightly expect value for money, we must continually get better at how we interact with our customers. Frankly, we want customers to expect to get the best customer experi ence in the Bahamas at BTC, and that is and will be our primary aim as a company, added Mr Johnson. BTC unveils expanded call centre Hospitality industry consulting firm, HVS, have unveiled the inaugural Caribbean Hotel Investment Conference and Operations Summit (CHICOS November 10-11, 2011, at Paradise Islands Atlantis resort. The conference is designed to bring hotel investors and operators together with Caribbean decision-makers to address the tourism industrys challenges and opportunities in the Caribbean. The Caribbean island region offers investors complex but rewarding opportunities for hotel and resort development, said Steve Rushmore, HVSs president and founder. He described CHICOS 2011 as a landmark conference benefiting all interested in this regions lodging industry. Among the conferences sponsors are Hard Rock Hotels & Casinos and the Blackstone Group. Dean Steve Carvell, from Cornell Universitys School of Hotel Management, is among the speakers. Atlantis to stage tourism summit Chicken 40% 30% Sliced/unsliced turkey 40% freeS liced/unsliced ham40% free Sliced/unsliced beef40% free F resh fruit35% free Ketchup 30% 10% Sauces 30% 10% Salad dressing 30% to 10% Dish liquid 40% free Powder detergent 7% freeL iquid detergent 7% free Instant coffee and tea 30% free Prepared foods 40% 30% Deodorants45% free Stockings 45% free Baby nipples 45% free Baby wipes 45% freeC omputer ribbons 45 free B aking powder/yeast 30% 10% B lack/Red pepper 35% 10% Vanilla 35% 10% Dried seasoning 35% 10% N utmeg 35% 10% C loves 35% 10% The duty reductions on grocery items: TOURISM SUMMIT: The Atlantis resort on Paradise Island.
The Utilities Regulation & Competition Authority (URCA expenses were 2.9 per cent over budget during its 2010 financial year, hitting $4.917 million compared to a $4.776 million projection at the start of the year. Kathleen Riviere-Smith, URCAs director of policy and regulation, said the disparity was due to several additional costs, including membership of international organisations that was previously the purview of Government. Extra travelling expenses were incurred for two out-oftown Board members to attend meetings in the Bahamas, plus additional staff costs, implementation of new performance management system, professional services for regulatory advisors, and costs associated with URCAs move to its UBS Annex House location. Still, URCA said it reported a comprehensive income of about $131,000 for the year. The disclosures came when the regulator presented its 2010 annual report and 2011 annual plan at a meeting on Wednesday, May 25, at the Harry C. Moore Library and Information Centre. Mrs Smith said last years a mendments to the Utilities Regulation and Competition A uthority (URCA required the regulator to remit $5.9 million to the Governments Consolidated Fund. In January 2011, URCA paid $4.3 million into the Fund. As URCA continues its man date to facilitate electronic communications in the Bahamas, it has tabled a threeyear plan that starts in 2011. In the 2011 first quarter, URCA BUSINESS PAGE 4B, MONDAY, MAY 30, 2011 THE TRIBUNE 35($/,7,21,&(5HTXHVWIRU&RQWUDFWRUVUHXDOLFDWLRQ7KH%DKDPDV$JULFXOWXUDODQG,QGXVWULDO&RUSRUDWLRQ%$O&f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tEDQN UHIHUHQFHV $ ERQGLQJFDSDFLW\RIWKUHHKXQGUHGWKRXVDQGGROODUV%. ZLWKDQDPHG%RQGXUHW\ $ GRFXPHQWHG+HDOWKt6DIHW\URJUDPPHIRUWKHH[HFXWLRQRI &RQVWUXFWLRQ:RUNV $ YDOLG%XVLQHVV/LFHQVH 1DWLRQDO,QVXUDQFH&RPSOLDQFH &RQWUDFWRUVDUHDOVRH[SHFWHGWREHLQJRRGVWDQGLQJZLWKWKH UHOHYDQW*RYHUQPHQW$JHQFLHVQO\&RQWUDFWRUVWKDWDUHDEOHWR PHHW$// RIWKHDERYHPLQLPXPUHTXLUHPHQWVVKRXOGUHVSRQG 3UHTXDOLFDWLRQGRFXPHQWVPD\EHFROOHFWHGIURPWKH&RUSRUDWH 2IFHVRI%$,&(DVW%D\WUHHWDVVDX%DKDPDVIURPRQGD\0D\ WKWR-XQHWK 3UHTXDOLFDWLRQGRFXPHQWVVKRXOGEHVLJQHGVHDOHGDQG UHWXUQHGWRWKH&RUSRUDWHIFHRI%$,&(DVW%D\WUHHWDVVDX WK URCA 2.9% over spending budget SEE page 9B U RCAS DIRECTOR OF POLICY AND REGULATION: K athleen RiviereS mith. CAPTIVEAUDIENCE: URCA said it reported a comprehensive income of about $131,000 for the yea. Ther regulator presented its 2010 annual report and 2011 annual plan at a meeting on Wednesday, May 25, at the Harry C. Moore Library and Information Centre.
BUSINESS T HE TRIBUNE MONDAY, MAY 30, 2011, PAGE 5B The Ministry of Housing has revealed that in several cases it had to spend $30,000 in repairing 500 government homes built below standard. The disclosures came when t he Ministry outlined problems it had experienced in working with Bahamian contractors during a meeting with the New Providence Contractors Association. The Association said the meeting was a first step in its m andate to represent and address the needs of Bahamian w orkers within the construction industry. The event took place at the Ministry of Housing, where the sector's status and concerns of both parties were discussed. Minister of Housing, Kenneth Russell, told NPCA officials that he and his staff were c ommitted to creating jobs for Bahamian contractors. This willbe in evidence through government housing developments in southern New Providence later this year, plus other projects the Ministry of Housing expects to undertake early in 2012. NPCA president, Delroy M eadows, committed to work closely with the Government to ensure work standard and quality issues were addressed.He said the Association's structure and policy will address the work produced by its members on all Government and private projects. A second meeting took place with Government executives at the Ministry of Public Works and Transport, where other important industry concerns were shared. These included the proposed Contractors Bill, which is now being drafted in an effort to regulate the construction industry in the Bahamas. Neko Grant, minister of pub lic works and transport, told NPCA officials that his department's staff were the ones solely responsible for drafting of the Contractors Bill. He invited the NPCA to play a role in its creation. The Ministry of Public Works and Transport also laid Ministry spends up to $30k per repair on below-par homes PHOTOS: Left: The Ministry of Housing Below: The Ministry of Works SEE page 9B
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC h as joined with accounting firm KRyS Global to launch an Economic Crime Survey f or the Bahamas. T he survey, designed to p rovide information on the true state of economic crimei n the Bahamas, and uncove r new trends, will be dispatched to all BCCEC members via e-mail tomorrow. The date for all replies to be received is July 12, 2011. The Chamber feels that t his survey is timely, as we a re seeing an increase in crime for numerous reasons, t he recession being just one o f them, said BCCEC chief e xecutive, Winston Rolle. We also feel that the survey will provide valuable feedback on the economic impact of crime as we move to shape future programmes i n our Crime Division to help businesses mitigate their potential risk to all t ypes of crime. M r Rolle said the BCCEC h ad worked with KRyS Global to develop and tai-l or the questions, the latter h aving administered similar surveys in other jurisdictions. Questions The survey features 87 questions broken down into 48 economic questions; eight retail questions; eight internal fraud questions; three money laundering questions; a nd 20 physical/property q uestions. It is aiming to discover j ust how prevalent misapp ropriation, bribery, cheque a nd credit card fraud, debit card fraud, corruption, cyber crime, identity theft, insurance fraud, money laundering and theft have become. T he survey is also seeking to determine their true impact on Bahamian busin esses. E d Rahming, managing d irector of KRyS Global, said the surveys findingsw ould assist Bahamian busin esses in planning their own controls. Although the focus in the Bahamas in recent months has turned primarily to violent and other traditional forms of crime, economic c rime is still highly relevant d uring the current recession due to the potential magnit ude of losses, the signific ance of any loss to a busin ess whose profit margins are thin or non-existent already, and the likelyi ncreased motivation of perpetrators to commit economic crime, Mr Rahming said. BUSINESS PAGE 6B, MONDAY, MAY 30, 2011 THE TRIBUNE 326,7,21$9$,/$%/( $XGLWDQDJHUDUWQHU T V GUESTS: R epresentatives of the newly-reorganised Bahamas Chamber of Commerce and Employers Confederation (BCCEC t oday. They will examine the Government's new budget and explain how organisational changes at the C hamber will impact its operations. Pictured L to R: Khaalis Rolle, chairman, BCCEC; Jeffrey Lloyd, host, a nd Winston Rolle, chief executive, BCCEC P hoto: W endell Cleare CHAMBER MAKES TV APPEARANCE Chamber partners for 2011 economic crime impact survey
BUSINESS T HE TRIBUNE MONDAY, MAY 30, 2011, PAGE 7B Specifically, in the past it would seem t hat the PUC apparently awarded spectrum in the 1900 MHz and 3.5 GHz to BTC without any public consultationor other transparent process, SRG's president, Paul Hutton-Ashkenny, alleged. URCAs final decision dismissed SRGs call for it to uphold the PUCs d ecision on the grounds that indust ry stakeholders must have confidence that past positions by the regulator will s urvive. URCA does not accept that the requirement for regulatory certainty means that URCA should be fettered by the decisions made by the legacy regulator, unless such decisions remain consistent with best practice, having r egard to the circumstances which currently obtain, the regulator concluded. Just to make certain the likes of BTC a nd Cable Bahamas/SRG got the p oint, URCA drove him this point in r eply to another consultation question, adding that regulatory certainty does not offer any guarantee that previousd ecisions or policies will not be changed as appropriate, based on the overarching requirements of the Sector Policy and international best practice. URCA considers that, if and to the extent the previous decisions by the PUC introduced a policy that led to spectrum assignments [being] made ona n inefficient basis, such a policy is incompatible with the Sector Policy and will not be perpetrated byU RCA. W ith all the in-use spectrum bands capable of being divided among multi ple operators to provide services to countries and populations larger thant he Bahamas, URCA added that the grant of an entire band to a single operator would only be justifiable in excep t ional circumstances. Addressing SRG, which is now a Cable Bahamas subsidiary, head-on, the regulator said: URCA is firmlyo f the view that in the Bahamas, the a pplication of best practice is unlike l y to result in the award of an entire b and to a single operator. URCA intends that future grants of spectrum should be closely aligned with the amount of spectrum that is required by the operator having regard to the geographic area, the topography, the population, the available techn ologies and the services to be provided. This will help to ensure that spect rum assignments in the Bahamas are e fficient, and maximise the benefits to t he Bahamas of the available spectrum. W hile URCA did not specifically s tate that it would reverse the alleged block allocation of spectrum to SRG, nowhere in its response does it reject the possibility of doing so. Indeed, ind eclaring wireless spectrum a finite r esource, the regulator said it would use its powers under the Communications Act to cause the vacating ofs pectrum where warranted. URCA also rejected the solution proffered by SRGs new parent, BISXlisted Cable Bahamas, which alsoc alled upon it to uphold the PUCs earlier decisions on spectrum grants. However, to soften the blow Cable Bahamas suggested that URCA mit i gate against any efficiency issues by introducing spectrum trading and inserting claw back provisions intof uture licences that would allow it to r egain previously allocated spectrum capacity. URCA, though, rejected the spectrum trading notion, pointing to thef act that the Communications Act pro hibited licencees assigning wireless and radio spectrum to a third party. It fearst hat spectrum trading will transfer the e conomic benefits from the taxpayer to t he private sector. URCA notes that spectrum is a national resource, and that licensees are currently required to pay spectrum fees to the Government of the Bahamas for the use of the spectrum, the regulator said, noting that these fees were designed to reflect the value o f the assigned spectrum. URCA believes that the introduction of spectrum trading could transfer t he benefits of increases in the econ omic value of the spectrum from the p ublic to the licensee, URCA added. Such a result could, in URCAs opin-i on, be inconsistent with the sector poli cy. The regulator also rejected BTCs assertion that wireless spectrum be awarded on a national basis, giving ano perator complete coverage of the B ahamas using that frequency. It seems clear to URCA that there will be instances in which a nationala ward of spectrum will be inefficient and wasteful, URCA said. URCA proposes to select the option of national spectrum licences or licences specif i c to particular islands or territories, based on the option which will provide optimal use of the spectrum band in question. T he regulator added that it had received significant interest in the 700 MHz band, with one party sub m itting a completed licence applicat ion for spectrum in the band. How ever, to ensure a fair and transparent process for allocating capacity in this band, URCA said it had decided tod elay opening it at this time. The regulator added that it would open the 11 GHz and 40 GHz bands forthwith, while there had been no i nterest in the 12 GHz band. Regulators pave way to overturn SRG block award FROM page 1B igation at Lennox Paton, successfully argued before the Court of Appeal that the Solomons could not recover, on behalf of a third party, loss allegedly suffered as a result of a breach of contract, winning a two-one majority verdict that struck out the action. Brian Moree QC, senior partner at McKinney, Bancroft & Hughes, represented the Solomons. Tracing the origins of the dispute, Appellate Court president Anita Allen said it related to work that Governors Harbour-based Mr Thompson had performed for the Solomons on land they owned at Double Bay, Eleuthera. The project involved renovation of an existing building, plus construction of two new buildings. The Solomons sued Mr Thompson in the Supreme Court on December 19, 2007, alleging breach of contract and damages for defective work, overcharging and failure to use his best skill, efforts and judgment. Losses and damages were claimed at $451,092, and Mr Thompson alleged in his March 18, 2008, defence and counterclaim that the couple had failed to pay the sum owing under the final certificate issued by the architect under the contract. The Solomons then filed an amended claim on March 1, 2010, in which they mentioned that the land upon which the work was carried out was not owned by them. It was not until the amendment of the statement of claim did the contractor become aware that the fee simple in the land on which the works were agreed to be carried out was owned by a third person, namely David and Melissa Solomon Corporation, a company beneficially owned by the Solomons, President Allen said. This led to the strike-out application, which was initially dismissed by Chief Justice Sir Michael Barnett at the Supreme Court level. He also ruled that the final certificate issued by the architect under the contract is not determinative as to the value and quality of work performed by the contractor, finding for the Solomons on both occasions. The central issue was whether this case fell within an exception to the general rule that only a plaintiff can recover damages for their loss. The Chief Justice ruled that it did, but a majority of the Court of Appeal overturned this, because at the time the construction contract was signed, Mr Thompson did not know the company rather than the Solomons owned the land involved and therefore might suffer damage. If knowledge of the third party at the date of the contract was unnecessary, the result would be to open the floodgates and allow an infinite number of third parties to make a claim for substantial damages, President Allen wrote. Moreover, it is no answer to say that because the Solomons are beneficial owners of [David and Melissa Solomon Corporation], they are one and the same. Indeed, a company is a legal entity separate and distinct from its members, and possessed of separate legal rights and liabilities, except of course where the court, because of special circumstances, pierces the corporate veil. In overturning the Supreme Court verdict, she added: I respectfully suggest that this might be an area of law for the intervention of Parliament by an enactment setting out the rights of third parties under contract. She was backed by fellow appeal Justice Christopher Blackman, who said there was nothing to indicate Mr Thompson knew the work he had been contracted to perform was on land owned by a company. It may be asked whether this is material. In my view, it is....... I am of the opinion that the courts are not required to fashion a remedy to aid a litigant whose own action or behaviour may create a difficulty. It was at all material times peculiarly and exclusively within the knowledge of the [Solomons], who were the legal owner of the land when they entered into a contract with [Thompson], and if the outcome is unsatisfactory, so be it. In his dissenting judgment, Appeal Justice Conteh said the outcome of finding for Mr Thompson was that he was not liable for any damages resulting from defective workmanship simply because he did not know that the Solomons company owned the land, and that it might therefore suffer the loss. I am unable to agree that because the appellant did not actually contemplate at the time he concluded the building contract with the Solomons that someone, other than the Solomons, in this case their company, might suffer damage resulting from his defective workmanship, he should not be accountable for that damage or loss, Justice Conteh said. While the Court of Appeal upheld the Supreme Courts verdict on the final certificate issue, it was rendered moot by its finding in favour of the strike out application. FROM page 1B PARLIAMENT URGED: ADDRESS 3RD PARTY RIGHTS IN CONTRACTS
o nly produces environmental benefits in terms of car-b on reduction, but other economic and social benefits. C ape Eleutheras director o f facilities, and its consultant to Bahamas Waste on the carbon market and r enewables, Geoff Walton, said: They are creating jobs that werent there, and because they are using the waste cooking oil that would otherwise go into the landfill, they are creating another benefit in that regard too. A carbon credit for one ton of gold standard offset carbon can sell on the open market for around $9, whereas other regular carbon credits would fetch a l ower $4 or $5 price. B ahamas Waste entered into a contract with Pioneer C arbon Trading (PCT 2007. Essentially a global b roker for carbon credits a nd offsets, PCI transfers f unds to Bahamas Waste in return for being able to sell c arbon credits in the intern ational voluntary carbon market, based on Bahamas Wastes offsetting. The concept underpinning the market is that credits are sold to individuals, companies or governments wishing to mitigate their own greenhouse emissions from transportation, electricity use and other sources. Transfer International companies, seeking to enhance their own green credentials, transfer money to other companies that are taking steps to reduce emissions and make the environment cleaner. Individuals may also w ish to purchase carbon c redits, thereby causing m oney to be transferred to environmentally-friendly p rojects, if they wish to offs et the emissions from personal air travel C arbon trading is seen as introducing financial incentives and market-based innovation into the fight for carbon-reduction and climate change mitigation. M r Walton said: Since this agreement was signed between Bahamas Waste and Pioneer Carbon Trad-i ng, Bahamas Waste cannot sell their CO2 offsets to anyone else, and Pioneer Carbon is obligated to pay$ 100,000 to Bahamas Waste f or the first 20,000 tons of carbon offset, even if the p rice PCT are selling the c redits for on the market ends up going lower than t hat. They also have first right of refusal on a new a greement after the contract for the first 20,000 tons of offsets expires. T he renewable energy p roponent said the Bahamas has a lot of potential to b enefit from the implemen tation of other projects w hich, like Bahamas Wastes biodiesel manufact uring, would address waste and carbon emissions. Theres a lot of waste here, a lot of CO2 is being produced. The Bahamas not required to meet any of the emissions standards that they have in the US, for example. The open landfill is a huge example of where offsetting could take place. So much methane is being produced there, and methane produces a lot ofC O2. If someone were to come i n and try to find a way to c apture the CO2 in the landf ill, they could create a new o ffset, create jobs and get carbon financing. Nobody has caught on to that yet. Anytime CO2 is being pro-d uced, theres a way to clean it up and you can get credit for that, said Mr Walton. BUSINESS PAGE 8B, MONDAY, MAY 30, 2011 THE TRIBUNE 5(48,5(0(176 4 0F'RQDOGVRIIHUVH[FHOOHQWEHQHWV Venture fund seeking $2m to support new ventures. Were looking for $2 million, which will suffice to support the current projects on the t able, Mr Rolle told this newspaper. We have about five i n the pipeline. While the Bahamas Entrepreneurial Venture Fund had r eceived submissions from around 200 potential applicants i n the past year, Mr Rolle said quite a lot were useless proj ects. Mainly, those projects we didnt think were fit to receive funding, as persons did not understand out of the box, what is needed and missing, he explained. Whats really h appening with the Fund is a lot of custom coaching, making sure persons behave the way they should. Its the persons with the smart ideas who do not know how to successfully run a business. Mr Rolle said that to date, since its inception in 2005, the Bahamas Entrepreneurial Venture Fund had provided 43 start-up ventures with debt financing in the form of l oans, while it had take equity stakes in a further 10 busin esses. In total, it has invested $3.5 million across these 53 comp anies, some $2.2 million of that as debt financing, and $1.3 m illion in equity stakes. D escribing Sunryse Shredding as the Funds flagship investment, and an indication of what its financial support could do, Mr Rolle said the performance of the entrepreneurs it had supported was improving. With custom coaching, a lot of the participants are behaving the way they should behave, and in the running of a trueb usiness understand what is needed, ensuring the company i s in good standing with the regulators, he said. This involved paying all due Business Licence fees, real property tax, National Insurance Board (NIB tions and ensuring the firms were in good standing with theC ompanies Registry. Adding that the 53 companies assisted to-date would have been unable to attract commercial bank financing to support their dreams, and the more than 100 jobs created, Mr Rolle said: I think the Fund, in a sense, is an excellent idea to advance small businesses. I think each one of the Funds companies has a place in this society. M eanwhile, Mr Cunningham said the Bahamas Entrep reneurial Venture Fund, which has a delinquency ratio 0f about 50 per cent, was looking to invest a collective $700,000 with eight business prospects, two of whom had already received funding. In the last year weve cut back tremendously, because the quality of project requests coming in did not meet the Funds requirements. We did not see the kind of requests wew ould want to risk the Funds money on, Mr Cunning ham told Tribune Business. In the last 12 months weve received 22 applications. Weve seen the need to fund about eight of those requests, two of which weve already done. Those are not only in New Providence, but the Family Islands as well. The 22 completed applications were requesting collective funding of about $20 million, although one project alone was seek ing $15 million, and another $3 million. One of the companies already financed is an existing Family Island-based fishing operation with a very successful past, but in need of capital to move forward. Agreeing that the Bahamas Entrepreneurial Venture Fund had seen some serious challenges in the last two years, with the recession impacting the companies in its portfolio, Mr Cunningham said the Board had moved to clean up the balance sheet because a lot of ventures funded by way of equity and loan, a number of them have not succeeded. We had to make provisions for quite a number of them. In the last 12 months, weve been pushing very hard, but its been very difficult because of the southward trend cre ated in some operations. We foresee that in the next six months or so, if things pick up in the economy, we should be even more active, and the success rate should be even bet ter. He added that the Bahamas Entrepreneurial Venture Fund was seeking bigger projects in which to take equity stakes or provide debt financing to, in the belief that the success ratio would improve. Having initially focused on providing support in the $15,00-$20,000 range, the Funds current ceilings are $200,000 for equity in any one venture, and $100,000 for debt. But, by focusing on bigger investments and companies, Mr Cunningham expressed hope the success ratio would rise to one-in-three or one-in-two, as it was harder to walk away from a $100,000 investment, than a $15-$20,000 invest ment. Were looking at a delinquency of roughly around 50 per cent, which is not bad for a venture-type operation, Mr Cunningham told Tribune Business. Administrative costs are very low. I think it [the Fund] fits in very well. When you look at the Fund itself, unlike oth er agencies that provide funding, you have an equity element to us. We become bosses in the venture, and establish ourselves as Board members. We assist with expertise, and provide free assistance with accounting and administration. Mr Cunningham said the Bahamas Entrepreneurial Ven ture Fund had to take full control and put in new management at a Lynden Pindling International Airport (LPIA He said the business in question had been barely able to break even and cost the Bahamas Entrepreneurial Venture Fund a material amount, but now seems to be doing OK. Mr Cunningham said the Fund had recently received a $250,000 injection from the Government, and he had been told at ministerial level that the Ingraham administration wanted it to continue with its work. FROM page 1B BAHAMAS WASTE GETS $50K CARBON FINANCING FROM page 1B
BUSINESS T HE TRIBUNE MONDAY, MAY 30, 2011, PAGE 9B GN-1219 t he quarter ended April 30, 2011. FIN reported a net comprehensive income of $6.7 million for the quarter compared to $3.4 million in the prior year. N et interest income after provisions, of $842,000, increased by $3.5 million compared t o $5.5 million in the previous year, while total non-interest expenses increased slightly from $3 million in the 2010 second quarter to $3.1m illion. Allowance for credit losses stood at $5.8 million, a decrease from the $6.3 million reported in 2010. Total assets at quarter-end April 30, 2011, stood at $966 million, compared to $967 million at October 31, 2010. Total liabilities were $862 million, compared to $867 million during the previous period. D ividend Notes: F amguard Corporation (FAM a dividend of $0.06 per share, payable on June 7 2011, to all ordinary shareholders of record date May 31, 2011. RoyalFidelity Market Wrap FROM page 2B EQUITY MARKET TRADING ST ATISTICS Week ending 27.05.11 B ISX SYMBOLCLOSING PRICEWKLY PRICE CHANGEVOLUMEYTD PRICE CHANGE AML $ 1.18$-021.65% BBL$ 0.18$-00.00%B OB$ 6.91$-041.02% BPF$ 10.63$-00.00% BSLN/A$-00.00% B WL$ 2.70$-00.00% C AB$ 8.74$-251-16.44% CBB$ 8.33$-1000.00% CBL$ 6.98$-0-0.29% C HL $ 2.80$0.253,15016.67% CIB$ 8.60$-240-8.41% CWCB$ 1.87$-0.031211.63% D HS $ 1.38 $0 13.75% FAM $ 5.40 $0-11.04% FBB $ 1.77$-0.191,000-18.43% F CL$ 5.50$-4000.73% FCLB$ 1.00$-00.00%FIN $ 6.00 $ 0 -17.01% ICD $ 7.30 $-030.59% J SJ$ 9.82$-4000.00% PRE$ 10.00$-00.00% BOND MARKET TRADING STATISTICS BISX SYMBOLDESCRIPTIONVOLUMEPAR VALUE FBB13FBB Series0$1,000 C Notes Due 2013 F BB15FBB Series0$1,000 D Notes Due 2015 F BB17 FBB Series0$1,000 A Notes Due 2017 F BB22FBB Series0$1,000 B Notes Due 2022 NTERNATIONAL MARKETS FOREX Rates Weekly %Change Currency C AD1.0237-0.42 G BP1.65131.62 EUR1.43080.99 Commodities Weekly %Change Commodity Crude Oil114.982.39 Gold1,533.002.83 International Stock Market Indexes IndexWeekly% Change D JIA 12,441.58 -0.56 S&P 500 1 ,331.10 -0.16 NASDAQ2,336.09-0.65 N ikkei9,521.94-0.89 h opes to implement formal regulatory safeguards, promote sustainable competition, establish public interest through public service broadcasting and content regulation, and ensure consumers across the Bahamas have access to the same quality of service. In the second quarter, URCA is aiming to establish a Consumer Advisory Council made up of members of the public and stakeholders who will help its develop certain policies through providing input and feedback. URCA will also consult on the publication of the Separated Accounts prepared by Significant Market Power (SMP Bahamas and the Bahamas Telecommunications Company (BTC between operators, complaints handling and consumer dispute resolution; and conduct a market review of the methodology to assess Significant Market Power. The latter review is currently underway. In the 2011 third quarter, URCA will conduct a study of BTCs efficiency; consult on a proposed 2012 fee schedule; and consult on an official Codes of Practice for Broadcasters with regard to content. In the fourth quarter, URCA will consult on t he digital switchover from analog television broadcasting, in response to the mandate by the International Telecommunications Union (ITU that all broadcasters must switch to digital signals by June 2015. Other panel members at Wednesdays public meeting included Wayne Aranha, URCAs chairman; J Paul Morgan, deputy chairman; Katherine Doehler, communications specialist; and Vincent W allace-Whitfield, senior case officer and secretary to the URCA Board. URCAs Board consists of three non-executive members Mr Aranha, Mr Morgan and MsDoehler -and two executive members Mrs Smith, and Usman Saadat, the outgoing chief executive. Nonexecutive appointments are made by the Governor General on the advice of the Prime Minister and, with respect to the chairm ans appointment, after consultation with the L eader of the Opposition. Mr Aranha noted the absence of M Saadat from Wednesdays meeting, and said the Board, respecting the validity of Mr Saadats reasons for wishing to terminate his relationship with URCA, accepted his resignation, which will take effect on 31 August, 2011. Id like to take this opportunity to publicly acknowledge the contribution that Mr Saadat has made to the development of URCA during his time here. He brought great intelligence, experience and professionalism to the task, which has been challenging, as pioneering times often are. The professionals of URCA charged with carrying the organisation forward have benefited from his tenure. We wish him success in his future endeavours, said Mr Aranha. The Board is now in the early stages of initiating a competitive selection process for a new chief executive. FROM page 4B WAYNE ARANHA URCA 2.9% over spending budget out its plans to create more jobs this year for Bahamians in the construction industry through various infrastructure developments in New Providence and the Family Islands. The requirements for bidding on projects tendered by the Ministry, and the inclusion of Bahamian labour within major developments such as Baha Mar were also discussed. The NPCA added that plans for training of workers enter ing the industry through its con struction education and certification initiative were also discussed. The New Providence Contractors Association will hold its first annual Contractors Trade Show and Exhibition on June 25 at Arawak Cay. The event will focus on promoting Bahamian contractors and their work. FROM page 5B DELROW MEADOWS Ministry spends up to $ 30k per repair on below-par homes
T HETRIBUNE SECTIONEMONDAY, MAY 30, 2011 KICKER: The Bahamas beat Mexico 17-12 in the North America Caribbean Rugby Association Mens 15s Caribbean Championships. SEE MORE PHOTOS ON 4 & 5E By RENALDO DORSETT Sports Reporter firstname.lastname@example.org A late second-half score vaulted the Bahamas into an inspiring win before a galvanizing home crowd in the latest outing for the mens national 15-a-side rugby team. Duran Beadle scored two tries for the Bahamas, including the go-ahead score in the second half, en route to a 17-12 win over Mexico in the North America Caribbean Rugby Association Mens 15s Championships. Trailing 12-10 at the Winton Rugby Center Saturday, Beadles try regained the lead for the Bahamas in the waning moments of the second half. Kacey Charlton added a successful conversion to bring about the game's final margin as the Bahamas' defense held firm. "We played pretty good. We kept up the intensity, especially with our defense. That's our biggest asset, our defense," Beadle said. "We just capitalized on any mistake they made and we just took it to them. We didn't want to lose in the front of our home crowd, and we just felt we had to represent for the Bahamas." Beadle scored his first try of the game in the first half and a conversion gave the Bahamas a 7-0 lead. Mexico would follow with their first try of the game and a penalty kick by Charlton gave the Bahamas a 10-5 lead going into the half. Mexico took their first lead of the game ear ly in the second half with their second try to take a 12-10 advantage. Bahamas head coach Garry Markham said the team was inspired by the effort of the Bahamian faithful which created a true homecrowd environment. "I think they were lifted to be honest. We had a good crowd out here and we were realBahamas gets 17-12 victor y over Mexico By RENALDO DORSETT Sports Reporter email@example.com WITH their latest performances on the IAAF Diamond League Cir cuit last weekend, several athletes made progressions among the IAAF top lists in their respective events. In the latest leg of the Golden Gala in Rome, Italy, last week, Brown posted a season's best of 45.16s in the men's 400m, sprinter Debbie Ferguson-McKenzie was third in the women's 200 in 22.76 and Leevan 'Superman' Sands got fourth in the men's triple jump with another SB's leap of 17.13 meters or 56-feet, 2 1/2-inches. Improving on the 45.37s he did in Kingston, Jamaica, on May 7, Brown climbed up the ladder with the 10th best time so far this year in the world. Rondnell Bartholomew of Grenada heads the list with a world leading time of 44.65s. Demetrius Pinder is the one of only two athletes to appear twice within the top 10 which includes the fifth leading time in the world, done April 2 in Baton Rouge, Louisiana, in 45.06s and the ninth fastest time (45.26s on April 16 Florida. In the women's 200m, FergusonMcKenzie's time of 22.76s was ahead of Americans Allyson Felix's 22.81 and Sanya Richards-Ross' SB of 22.88. It was the 11th best time on the IAAF top list on the season thus far. For Sands, after posting a second place finish with a season's best of 17.09m (56-2 1/2 on May 6, Sands improved on that with a leap of 17.13 on his third attempt. The leap of 17.13m in Rome placed him 14th on the IAAF top list. Brown, 32, is now heading to Ostrava, Czech Republic, for his next meet at the 50th Ostrava Golden Spike next week Tuesday. Ferguson-McKenzie, 35, will head to Ostrava on Tuesday and then New York on June 11 for the Adidas Grand Prix. Sands, 29, will head back to Auburn and continue his training before he competes again in New York on June 11. Bahamian athletes on IAAF top lists T T R R A A C C K K & & F F I I E E L L D D P h o t o s b y T i m C l a r k e / T r i b u n e s t a f f North America Caribbean Rugby Association Championships BALL IN PLAY: The Bahamas defeated Mexico 17-12 in the North America Caribbean Rugby Association Mens 15s Championships over the weekend. S S E E E E p p a a g g e e 3 3 E E
ly pleased with their performance today," he said. "A lot of things didn't go right, we dropped a lot of balls and at times we didn't make the right decisions, but that side Mexico, they didn't keep their heads down, they tackled, they kept it together, scored a try, got together and honestly had one of the best performances I've seen in a long time." Markham pointed to the veteran leadership and a stingy defensive effort for the win. "We had three guys come in, that was it. We have some older veterans on this team. Guys like Garfield [Morrison] came in at prop and did an excellent job today but they found towards the first half, beginning of the second half, their legs began to be weary and they had to give away to some of the younger players, lacking experience," he said. "A couple of things didn't quite gel, but you can not fault the entire team effort, absolutely fantastic." In the opening round, the Bahamas suffered a 13-10 loss to Bermuda at National Sports Center in Hamilton, Bermuda. Mexico followed with a 34-20 over the CaymanI slands in the Round One N orth and is now sched uled to play Bermuda at home on June 4. The point differential between the teams would determine who would advance should Mexicob eat Bermuda at home this weekend. "We lost one in Bermu da, very tight game there. We won a tight game here against Mexico. Bermuda will go to Mexico now, where we hope to see another very tight game and a Mexico win," Markham said. "Then it will come down to points differences and we are up five points on Mexico now, so the ideal scenario would be for them to win by two points." Alberto Ruiz Luca de Tena, Mexico team manager, said the team suf fered a lack of execution down the stretch in the loss. "We had a good effort for most of the day, but in the second half we just gave up that late try which really hurt us," he said. "We suffered some poor tackling and execution on defense and that made it a tough afternoon for us against the Bahamas." LOCAL/INTERNATIONAL SPORTS TRIBUNE SPORTS MONDAY, MAY 30, 2011, PAGE 3E Bahamas gets 17-12 victory over Mexico By RENALDO DORSETT Sports Reporter r firstname.lastname@example.org COLLEGIATE athletics around the United States headed into regional qualifiers and championship rounds this weekend. And several Bahamian athletes made a dominant impact for their institutions. A number of athletes at the NCAA Division I level qualified for the upcoming NCAA Championships set for June 8-11 in Des Moines, Iowa headlined by a new national record. In the NCAA Div I West Regionals, Ivanique Kemp of t he University of Arkansas s et a new mark for the count ry in the 100m hurdles. Kemp raced to a fifth place finish in a time of 13.20s en route to qualifying for the NCAA Championships and setting a new national record. She surpassed the old mark of 13.26s set by Taviannia Thompson in 2007. Also at the West Regionals, other Bahamian athletes were able to qualify for the NCAA Championships. Q uartermiler Demetrius Pinder of the Texas A & M Aggies qualified in both his signature event and as a member of both the 400m and 1600m relay teams. Pinder ran to a 45.82s quarterfinal win to qualify and he was also a member of the 1600m relay team with a 45.60s split to anchor the Aggies to a first place finish in 3:03.95s. He ran the third leg of the 400m relay for a first place finish for the Aggies in 39.52s. In the field, Lamar Delaney of the Houston Cougars claimed an NCAA bid in the triple jump. He finished 12th overall with a jump of 51' 3 3/4" to earn the NCAA berth. Jamal Wilson of the Texas Longhorns finished 14th with a jump of 51' 3/4" while the TCU Horned Frogs Cameron Parker was 25th with a jump of 50' 1/2". In the NCAA East Regionals, the Bahamian connection at the University of Auburn earned several qualifying spots. In the women's 200m, both Sheniqua Ferguson and Nivea Smith earned NCAA Championship berths. Ferguson finished third in 23.22s while Smith was fourth in 23.25s. Ferguson, the 2010 NCAA Indoor Champion, finished with the 10th best time in Auburn history. In the women's century, she finished in 11.33s to earn another qualification. In the final women's event for the day, Cache Armbrister earned a spot in Des Moines as a member of the 1600m relay team. The team clocked a season-best time of 3:31.50 while winning their heat by nearly four seconds. The time ranked third in Auburn outdoor history for the event. In the NCAA Division II Championships, defending champion in the 400m hurdles, Michelle Cumberbatch, was unable to successfully defend her title. Cumberbatch, of Lincoln University, finished second in 59.62s. She ran the opening leg of the 1600m relay team which finished second in a time of 3:43.42s. Carlyle Thompson of Nova Southeastern University fin ished fourth in the 400m hurdles in 52.42s. Div I athletes qualify for NCAA Championships F F R R O O M M p p a a g g e e 1 1 E E QUALIFIED: Quartermiler Demetrius Pinder (left event and as a member of both the 400m and 1600m relay teams. HENGELO, Netherlands (AP 10.05 seconds to win the 100 meters Sunday at the FBK Games, edging home favourite Churandy Martina. Martina finished in 10.10 in his first race as a Dutchman after switching from his native Netherlands Antilles. Olympic silver medallist Richard Thompson of Trinidad and Tobago crossed in 10.13 to take bronze. Olympic champion Dayron Robles of Cuba made up for his loss last year by winning the 110 hurdles in 13:07 ahead of Dwight Thomas and Terrence Trammell. Robles fell after the last hurdle in 2010. The men's long jump was won by another reigning Olympic champion, with Irving Saladino leaping 27 feet, 6 inches to beat Ignisious Gaisah of Ghana. Danielle Carruthers edged fellow Americans Kellie Wells and Dawn Harper to clinch the 100 hurdles in 12:64. Two-time reigning world champion Maryam Jamal of Bahrain got out front early and never gave up her lead en route to clinching the 1,500 in 4:00.33. Silver went to Ethiopia's Kalkidan Gezaghegne and Morocco's Siham Hilali captured bronze. Jenny Meadows and Emma Jackson surged from the pack with 200 meters to go in the 800, with Meadows finishing in 1:59.76 to edge her British teammate by 0.48. Uganda's Annet Negesa was third in 2:00.40. Saudi Arabia's Mohammed Shaween rolled to victory in the men's 1,500 in 3:31.82. Haron Keitany of Kenya was second and Ethiopia's Mekonnen Gebremedhin took third. Collins wins 100m at FBK Games OLYMPIC champion in the long jump Irving Saladino of Panama performs at the FBK games in Hengelo, eastern Netherlands, on Sunday. KIM COLLINS of Saint Kitts and Nevis, and Chuarandry Martina of the Netherlands Antilles (right (AP Photos
LOCAL SPORTS PAGE 4E, MONDAY, MAY 30, 2011 TRIBUNE SPORTS Bahamas defeats Mexico 17-12 in FIELD PLAY: At Winton Rugby Center Saturday, the Bahamas beat Mexico 17-12 in North America Caribbean Rugby Association Mens 15s Caribbean Championships. Highlights of the game can be seen here. Photos by Tim Clarke /Tribune staff
LOCAL SPORTS TRIBUNE SPORTS MONDAY, MAY 30, 2011, PAGE 5E Mens 15s Caribbean Championships FIELD PLAY: The Bahamas beat Mexico 17-12 in the North America Caribbean Rugby Association Mens 15s Caribbean Championships at the Winton Rugby Center on Saturday afternoon. Photos by Tim Clarke /Tribune staff