N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Volume: 107 No.182MONDAY, JULY 4, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER CLOUDS, SUN, T-STORM HIGH 89F LOW 79F B y NOELLE NICOLLS Tribune Staff Reporter firstname.lastname@example.org FURIOUS internet users changed the Bahamas Elec t ricity Corporations name to Buy Enough Candles, as they ranted online about the recent power outages. T he BEC Facebook was riddled with expletives and vulgar language in comments posted b y disgruntled customers. A n umber of people joined the BEC group page over the weekend just to leave an angrym essage. Well BEC I came to warn yall about the bunch of likes youre getting on your fanpage all of a sudden. It aint cause people like yall, cause they DONT. They came to tell yall bout yall ass but I guess you guys figured that outa lready! said BahamianBeauty Brown, on the BEC fan page. Sharing some business and marketing advice with the company, Dero Emmanuel said: Cheaper yall sell phone c ard, because electricity ain workin out. The company took one of i ts units at the Clifton Pier Power Station (CPPS around 8pm on Friday after it developed a fault, according t o a statement issued by the company. This resulted in a genera t ion shortfall that affected electricity supply in New Provi dence and Paradise Island on Customers vent their fur y online TRY OUR McFLURRY SNICKERS The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM Internet anger at BEC outages BEA T RETREA T FELIPE MAJOR/TRIBUNE STAFF By NOELLE NICOLLS Tribune Staff Reporter email@example.com EMPLOYEES of the Educa tion Loan Authority have raised concerns about the practice of contracting catering services from the family restaurant of a senior official for board meetings and other functions, according to Tribune sources. Attorney Lowell Mortimer, board chairman, said he personally recommended that the Education Loan Authority (ELA use the catering services of The Reef restaurant, which is the By NOELLE NICOLLS Tribune Staff Reporter firstname.lastname@example.org THE Bahamas Telecommunications Company is moving quickly to start the process of evaluating applicants for its voluntary separation programme. Executives of the company said the first phase of the process, which ended on Friday, was very successful. Tribune sources reported more than 450 employees BTC EVALUATING APPLICANTS FOR VOLUNTARY SEPARATION SEE page 11 SEE page 12 EDUCATION LOAN OFFICIAL USED THE SERVICES OF FAMILY RESTAURANT TRIBUNE EXCLUSIVE By AVA TURNQUEST Tribune Staff Reporter email@example.com AMENDING the trust agreement between the gov ernment and the Grand Bahama Port Authority will be top priority in the Democratic National Alliance (DNA for Grand Bahama, claims its party leader. Branville McCartney criti cised the established and longstanding political parties that he said had failed to realise the islands potential in the over half a century since the signing of the Hawksbill Creek Agreement. Mr McCartney said: After coming to this island repeatedly, seeing first-hand the depressed and repressive conditions under By AVA TURNQUEST Tribune Staff Reporter firstname.lastname@example.org THE Democratic National Alliance (DNA unveiled six new agents of change in their bid to rewrite Bahamian political history. The slate of professional men and women from various sectors were announced at the partys Grand Bahama launch on Saturday. DNA Leader Branville McCartney said: Neither [FNM or PLP] has yet to put in place any broad-based programmes to grow our econ omy; nor have they created or presented any concrete, long-term financial development plan that will help reduce the $4.2billion debt that they got us into, only to have it hang over our heads, our childrens heads, and the heads of our childrens children. He added: They have no sustainable vision for moving this country forward into any century, 21st or otherwise. They never had and they never will. DN AWILL SEEK TO AMEND TRUST A GREEMENT BETWEEN GBPA, GOVT SEE page 11 SEE page 11 SIX NEW AGENTS OF CHANGE ARE UNVEILED BY THE DNA DNALEADER Branville McCartney B y N O E L L E N I C O L L S T r i b u n e S t a f f R e p o r t e r n n i c o l l s @ t r i b u n e m e d i a n e t T H E T r i b u n e s e x c l u s i v e i n v e s t i g a t i o n i n t o t h e E d u c a t i o n L o a n A u t h o r i t y h a s r u f f l e d s o m e f e a t h e r s e v e n s p a r k i n g a s o u r c e t o c l a i m t h a t I a m r u n n i n g a s m e a r c a m p a i g n a g a i n s t b o a r d c h a i r m a n L o w e l l M o r t i m e r I t h o u g h t i t w a s a n i n t e r e s t i n g a s s e r t i o n c o n s i d e r i n g t h e f a c t t h a t I d o n o t k n o w M r M o r t i m e r p e r s o n a l l y a n d i t w o u l d s e r v e n o p e r s o n a l o r p r o f e s s i o n a l i n t e r e s t o f m i n e t o s m e a r h i m B u t t h e r e i s a p p a r e n t l y a w i t c h h u n t o n f o r i n f o r m a n t s a n d l e a k s w h i c h i s o f n o s u r p r i s e b e c a u s e t h i s i s o f t e n t h e c a s e w h e n u n f a v o u r a b l e i n f o r m a t i o n r e a c h e s t h e p u b l i c d o m a i n a b o u t p u b l i c o f f i c i a l s o r b o d i e s I t i s u n f o r t u n a t e t h a t w e l i v e i n a s o c i e t y t h a t d o e s n o t t r u l y u n d e r s t a n d o r a p p r e c i a t e h o w a c c o u n t a b i l i t y o r t r a n s p a r e n c y w o r k s o r w h a t t h e r e s p o n s i b i l i t y o f t h e F o u r t h E s t a t e t r u l y i s W h e r e a s p u b l i c o f f i c i a l s w o u l d u s u a l l y f e e l o b l i g e d t o a n s w e r a n a u d i t o r t o o o f t e n w h e n c o n f r o n t e d b y j o u r n a l i s t s t h e y f e e l n o s e n s e o f o b l i g a t i o n T h e y f e e l n o s e n s e o f r e s p o n s i b i l i t y t o a n s w e r o u r q u e s t i o n s a s i f t h a t w o u l d i n s o m e w a y d i m i n i s h t h e i r s t a t u r e T h a t i s t h e i r r i g h t b u t o f t e n i t w o r k s c o u n t e r t o t h e i r o w n i n t e r e s t s M a n y t i m e s t h e r e a r e r e a s o n a b l e e x p l a n a t i o n s f o r s e e m i n g l y a c c u s a t o r y q u e s t i o n s p o s e d b y j o u r n a l i s t s b u t t h e f a i l u r e o f p u b l i c o f f i c i a l s t o p a r t i c i p a t e i n t h e p r o c e s s o f s h a r i n g t h e f a c t s r e s u l t s i n c l o u d s o f s u s p i c i o n f o r m i n g o v e r t h e i r o w n h e a d s T h a t I w o u l d d a r e s a y i s f a r f r o m a s m e a r c a m p a i g n I n a n e x c l u s i v e r e p o r t T h e T r i b u n e r e v e a l e d t h a t t h e E d u c a t i o n L o a n A u t h o r i t y ( E L A ) b o a r d c h a i r e d b y M r M o r t i m e r a p p r o v e d t h e p r i v a t e i s s u e o f a $ 3 m i l l i o n b o n d t o C a m p b e l l s S h i p p i n g a c o m p a n y f o r w h i c h M r M o r t i m e r s e r v e s a s p r e s i d e n t a n d i s a p a r t o w n e r .T r a n s a c t i o nT r i b u n e s o u r c e s w e r e o f t h e o p i n i o n t h a t t h e d e c i s i o n t o i s s u e t h e b o n d w a s a c l e a r c o n f l i c t o f i n t e r e s t T h e t r a n s a c t i o n i s a l s o p e r c e i v e d t o b e a p o s s i b l e c o n f l i c t i n t h e o n g o i n g a u d i t b y t h e a u d i t o r g e n e r a l W h e n a s k e d a b o u t t h e d e a l t h a t e a r n s h i s c o m p a n y o v e r $ 1 5 0 0 0 0 a y e a r i n i n t e r e s t M r M o r t i m e r s a i d h e s e e s n o t h i n g w r o n g H e s a i d t h e r e i s n o i n s i d e r t r a d i n g a n d t h e d e a l i s n o t t h e s a m e a s a c o r p o r a t e t h i n g w h e r e s o m e o n e i s s e l l i n g s h a r e s T o u n d e r s t a n d t h e w h o l e b o n d i s s u e y o u n e e d t o s p e a k t o t h e C e n t r a l B a n k E v e r y o n e a p p l i e s t h r o u g h C e n t r a l B a n k T h e b o n d s a r e t o t a l l y h a n d l e d b y t h e C e n t r a l B a n k P a y m e n t s a r e s u b m i t t e d t o t h e C e n t r a l B a n k f o r t h e b o n d s I t i s a t o t a l l y h a n d s o f f e x e r c i s e s a i d M r M o r t i m e r T h e o r e t i c a l l y w h a t M r M o r t i m e r s a i d i s a c c u r a t e B u t i t d o e s n o t t e l l t h e w h o l e s t o r y A c c o r d i n g t o T r i b u n e s o u r c e s t h e E L A i s v e r y m u c h i n v o l v e d i n t h e s a l e o f i t s g o v e r n m e n t s e c u r e d b o n d s A f t e r a l l t h a t i s w h a t t h e a g e n c y w a s c r e a t e d t o d o F u r t h e r m o r e E L A b o n d s h a v e d e v e l o p e d a r e p u t a t i o n o f b e i n g a n u n s o u n d i n v e s t m e n t s o n o o n e w a n t s t o t o u c h t h e m I t i s n o s e c r e t h o w d i f f i c u l t i t i s o u t t h e r e s e l l i n g g o v e r n m e n t p a p e r s a i d o n e s o u r c e T h e s e b o n d s d o n o t s e l l t h e m s e l v e s T h i s s i t u a t i o n h a s w a r r a n t e d m o r e i n v o l v e m e n t b y t h e E L A S o i n t h e n a t u r a l c o u r s e o f d o i n g t h e d i f f i c u l t b u s i n e s s t h e y a r e t a s k e d w i t h c o n d u c t i n g t h e E L A i s s u e d a b o n d t o C a m p b e l l s S h i p p i n g w i t h o u t a c o m p e t i t i v e p r o c e s s A n d i t w a s t h e E L A b o a r d n o t C e n t r a l B a n k t h a t s e l e c t e d M r M o r t i m e r s c o m p a n y I n p r e s e n t i n g t h e s e f a c t s a T r i b u n e s o u r c e b e l i e v e s t h e s t o r y g a v e t h e f a l s e i m p r e s s i o n t h a t M r M o r t i m e r a n d m e m b e r s o f t h e E L A m a n i p u l a t e d a b o n d i s s u a n c e t o M r M o r t i m e r s a d v a n t a g e I c a n n o t d i s p u t e w h a t i m p r e s s i o n s o m e o n e w a l k e d a w a y w i t h b u t I c a n s a y c a t e g o r i c a l l y t h e s t o r y d i d n o t s a y t h a t n o r d i d i t i n t e n d t o i n f e r t h a t T h e s o u r c e a l s o s a i d t h e i n v e s t i g a t i o n w a s h u r t f u l b e c a u s e t h e r e a l s t o r y i s c o m p l e t e l y t o t h e c o n t r a r y I n t h e s o u r c e s v i e w M r M o r t i m e r s m u l t i m i l l i o n d o l l a r s h i p p i n g c o m p a n y w a s s i m p l y p e r f o r m i n g a p u b l i c s e r v i c e b y b a i l i n g o u t t h e l o a n p r o g r a m m e w i t h i t s $ 3 m i l l i o n i n v e s t m e n t N o o n e i n t h e m a r k e t w a s w i l l i n g t o p u r c h a s e t h e b o n d s W h a t s h o u l d h e h a v e d o n e ? S a y b e c a u s e I a m c h a i r m a n o f t h e E L A I a m n o t g o i n g t o p u r c h a s e a n y b o n d s e v e n t h o u g h t h e r e i s n o o n e i n t h e m a r k e t t o p u r c h a s e b o n d s a n d m y c o m p a n y i s w i l l i n g t o t a k e a r e d u c e d r a t e H e s h o u l d s t e p b a c k ? a s k e d a s o u r c e T h e o n l y t a k e r s w e r e t h e N a t i o n a l I n s u r a n c e B o a r d w h i c h h a s b e e n a l o n g s t a n d i n g E L A p a r t n e r a n d F a m i l y G u a r d i a n T h e s t o r y d i d n o t s t a t e t h e c i r c u m s t a n c e s o f l i q u i d i t y T h e s t o r y d i d n o t m e n t i o n t h a t c o m m e r c i a l b a n k s h a d t o l d t h e E L A t h e y w e r e n o t i n t e r e s t e d T h e s o u r c e w a s 1 0 0 p e r c e n t c o r r e c t T h e s t o r y d i d n o t d e t a i l t h o s e f a c t s N o t b e c a u s e I c o n v e n i e n t l y o m i t t e d t h e m b u t b e c a u s e M r M o r t i m e r d i d n o s a y s o n o r d i d a n y o f t h e b o a r d m e m b e r s o r s e n i o r a d m i n i s t r a t o r s w h e n t h e y w e r e g i v e n t h e o p p o r t u n i t y t o e x p l a i n t h e s i t u a t i o n I n f a c t e a r l y i n t h e i n v e s t i g a t i o n w h e n I a s k e d o n e o f t h e b o a r d m e m b e r s i f M r M o r t i m e r w a s s t i l l t h e c h a i r m a n b e c a u s e s o m e o n e h a d c l a i m e d h e r e s i g n e d o v e r t h e b o n d i s s u e h e s a i d W e l l i f L o w e l l g o n e I n e e d t o g o t o o A t t h e t i m e t h e b o a r d m e m b e r d i d n o t k n o w h e w a s s p e a k i n g t o a m e d i a p e r s o n T h e f a c t s p r e s e n t e d b y T r i b u n e s o u r c e s w e r e c o r r o b o r a t e d b y E L A o f f i c i a l s w h o c o n f i r m e d t h e p r i v a t e i s s u a n c e o f t h e b o n d t h e c o m p a n y s c o n n e c t i o n t o t h e c h a i r m a n a n d t h e s o u r c e o f t h e d e c i s i o n t o s e l e c t C a m p b e l l s I n v e s t i g a t i o nT h e s e w e r e t h e f a c t s t h a t s p a r k e d t h e i n v e s t i g a t i o n c o u p l e d w i t h i n f o r m a t i o n r e c e i v e d a b o u t o t h e r q u e s t i o n a b l e p r a c t i c e s t h a t a l l e g e d l y t o o k p l a c e a t t h e E L A a n d k n o w l e d g e t h a t t h e A u d i t o r G e n e r a l s D e p a r t m e n t i s c u r r e n t l y i n v e s t i g a t i n g I r e q u e s t e d a n i n p e r s o n s i t d o w n i n t e r v i e w w i t h M r M o r t i m e r u n d e r s t a n d i n g t h a t t h e i s s u e w a s p r o b a b l y c o m p l e x e n o u g h t o w a r r a n t s o m e t h i n g i n d e p t h b u t h e r e f u s e d H e s a i d h e w a s b u s y h a v i n g j u s t r e t u r n e d f r o m t r a v e l l i n g N o w I a m s u r e h e w a s v e r y b u s y s o m y c a l l m u s t h a v e b e e n a n u n w e l c o m e d i n c o n v e n i e n c e b u t t h a t i s t h e b u r d e n p u b l i c o f f i c i a l s m u s t b e a r o n c e i n f o r m a t i o n i s i n t h e p u b l i c d o m a i n A s a p u b l i c o f f i c i a l w h e n t h e m e d i a c o m e s k n o c k i n g p a r t i c u l a r l y w i t h c r e d i b l e i n f o r m a t i o n i f y o u w i s h t o h a v e a s a y i n w h a t i n f o r m a t i o n i s o u t t h e r e a n d w h a t i m p r e s s i o n p e o p l e f o r m i t m i g h t b e a g o o d i d e a t o a n s w e r t h e d o o r T h e p u b l i c h a s t h e r i g h t t o k n o w w h o i s p r o f i t i n g f r o m i t s m o n e y w h e t h e r i t i s a j u s t i f i a b l e b e n e f i t a s i n M r M o r t i m e r s c a s e o r s t r a i g h t u p w h i t e c o l l a r c r i m e J u s t b e c a u s e a p u b l i c b o d y m a y f e e l j u s t i f i e d i n i t s a c t i o n s d o e s n o t m e a n i t h a s t h e r i g h t t o d i c t a t e w h e t h e r o r n o t i t m a t t e r s t o t h e p e o p l e T a l R u s s e l l a T r i b u n e 2 4 2 c o m r e a d e r c o m m e n t e d o n t h e a r t i c l e a b o u t t h e $ 3 m i l l i o n b o n d u n d e r t h e t i t l e H o w m a n y i d i o t s d o e s i t t a k e t o b u y a n e x c u s e ? H e s a i d : B e c a u s e s o m e t h i n g m a y n o t b e i l l e g a l d o e s n o t m e a n i t i s a b o v e b o a r d ? A n o r d i n a r y s i s t e r s t a n d s i n f r o n t o f a j u d g e f o r s h o p l i f t i n g a n d s t u f f i n g a $ 1 5 f r o z e n c h i c k e n d o w n h e r b l o o m e r s a n d s h e i s f a c i n g a b u s r i d e t o F o x H i l l a s a g u e s t o f t h e s t a t e b u t t h e o t h e r o n e d e c i d e s w h e n i t s o k a y t o p e r s o n a l l y b e n e f i t f i n a n c i a l l y f r o m d o i n g b u s i n e s s w i t h t h e p e o p l e s m o n e y h e d i r e c t l y ( a d m i n i s t e r s ) B e c a u s e i t m a y n o t f a l l u n d e r t h e s c o p e o f b e i n g a c r i m e a l l s h o u l d s i t w e l l w i t h w e o r d i n a r y f o l k s ? W h e r e t h e s e p e o p l e f i n d t h e b a l l s f r o m t o d o t h e t h i n g s t h e y d o ? H i s c o m m e n t s a r e r e l e v a n t a s t h e y s p e a k t o t h e h e a r t o f t h e s o c i a l i n e q u i t y t h a t e x i s t s i n s o c i e t y S o m a n y B a h a m i a n s o f a p a r T T H H E E S S T T O O R R I I E E S S B B E E H H I I N N D D T T H H E E N N E E W W S S M M O O N N D D A A Y Y , J J U U L L Y Y 4 4 , 2 2 0 0 1 1 1 1 M O R E F A I L I N G S T U D E N T L O A N S C H E M E D I S C L O S U R E S S E E p a g e 1 0 B SEEINSIGHT12B BODYBUILDING SEESPORTSSECTIONE CATCH! Police drummers throw their drumsticks in the air on Saturday at the Beat Retreat at Rawson Square. S TUDENTLOANS A MAN in his 20s became the countrys latest homicide victim when he died after a stabbing incident yesterday. The incident happened late in the afternoon on Windsor Lane off Market Street and is believed to have stemmed from an altercation between the victim and another man. A man in his 20s is currently in custody in connection with the matter. SEE page 12 MAN DIES AFTER STABBING
LOCAL NEWS P AGE 2, MONDAY, JULY 4, 2011 THE TRIBUNE Subject to credit approval. *Trademark of The Bank of Nova Scotia, used under licence. Rates As Low As 7.25%*Ready to buy your rst home or pay off your current one faster? Weve got the expertise, exible options, and interactive tools to tailor a plan just for you. Find out how you can: Lets figure it out. Talk to us today.Whats the best home ownership plan? One built just for you.Check out our online mortgage calculators. bahamas.scotiabank.com/gogure POLICE are requesting the publics help in locating the person or persons responsible for the countrys latest homicide which took place on Saturday at Sapodilla Boulevard. According to police press liaison officer Chrislyn Skippings, a man in his early 40s was discovered by the police around 2.20am while they were on patrol in the Pinewood Gardens area. The victim, she said, had gunshot wounds about the body. At this point, she said, police are uncertain of the circumstances surrounding this incident and are appealing to members of the public who may have any information regarding this latest homicide to contact their nearest police station, 911, the Central Detective Unit at 502-9910, 502-9991 or Crime Stoppers at 328-TIPS. PUBLICS HELP SOUGHT AFTER WEEKEND HOMICIDE M ANFOUNDDEADWITHGUNSHOTWOUNDS
LOCAL NEWS T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 3 By MEGAN REYNOLDS Tribune Staff Reporter email@example.com AN INTERNET craze sweeping the Bahamas overnight has gained more than 2,500 fans ready to compete in the art of planking. The rules are simple lie face down, palms flat against your sides, with your feet together, pointing at the floor while someone takes a photo. P oints will be awarded for the originality of the location and number of spectators and participants involved. Hundreds of teenagers, college students and young professionals have subscribed to the art of planking, and taken p ictures of themselves lying face down in various incongru-o us locations. From tabletops and supermarket trolleys, to rooftops, basketball rims and a guinep tree, plankers aim to perfect the art of planking. The Bahamas Planking Association, a web community group on social networking site Facebook, attracted nearly 2,500 fans within hours of its launch on Wednesday, and continues to grow at a rapid pace. Danielle Dennard, 22, an employee of Tattoo King in downtown Nassau said: I saw a couple of people asking what p lanking was so I became curious and Googled it; its just a c razy Internet craze where people who have nothing to do, or want to challenge other plankers online, plank. The challenge across the world is to find the craziest place to plank; me and my f riends are thinking about planking on the wharf where t he ships come in. Bored Planking is said to have been founded 14 years ago by bored British teenagers Gary Clarkson and Chris Langon, then 15 and 12, who would perform the plank in public places, amusing one another and baffling onlookers. In 2007 they created a Face book group and the popularity increased to a few thousand followers, then sweeping across Britain in 2009 and making the news when seven accident and emergency staff at the Great W estern Hospital in Swindon, in the south of England, were suspended for planking. The practice, also known as the Lying Down Game, surged in popularity among Australians in May this year as the Planking Australia Facebook pages fan base grew from 8,000 to over 100,000 almost overnight. On May 13, 20-year-old Nate Shaw was charged for planking on the hood of an unoccupied police car, and Acton Beale,20, of Queensland, Australia, became the first planking casualty when he fell to his death from a seventh-floor balcony in Brisbane two days later. His prompted a statement from Australias Prime Minister, Julia Gillard, who warned plankers: There's a difference between a harmless bit of fun done somewhere that's reallysafe and taking a risk with your life. Everybody likes a bit of fun, but the focus has to be on keeping yourself safe first. The Queensland Opposition and the state's police have called for people to stop participating in the fad. Bahamian plankers have been warned by the administrators of the Facebook groupto plank responsibly as they formulate plans to plank at Atlantis, Rawson Square, and wherever else their imagina tions may take them. MORE THAN 2,500 FANS READYTO COMPETE IN CRAZE SHORE W AYOF PLANKING: Timmy Spidermonkey Munnings planks on Montagu fores hore. AMUSING THEMSELVES: Dwight Howard and friends plank at an amusement arcade The c hallenge across the world is to find thec raziest place to plank; me and my friends aret hinking about planking on the wharf where the ships come in. D anielle Dennar d, 22
EDITOR, The Tribune. T hank you for allowing m e the space in your daily to e xpress timely views. The year is 2020, the airwaves are being bombarded with news flashes from interest groups, consumers and numerous statements made by the government a nd opposition. B ahamian fishermen now returning their crafts to dry d ock. The closure of the fish f ry at Arawak Cay. Restaurants all around the c ountry, have closed. Not a boat can be seen at Montagu. P otters Cay Dock lay bare, not a fisherman in s ight. What is going on in the Bahamas, one internationaln ews affiliate has asked? Could this be true.. othe rs have inquired. The Department of Fisheries and the senior staff, h ave been in meetings all day, has been the cry from t he locals. People have swarmed the refrigerated sea products businesses for answers. The streets have been impassible all around New Providence Island asp eople scramble for sup plies. Supplies that used to be in abundance, but are no more. M any are asking the quest ions, why did we not see this coming? How could we have been so careless witht his precious resource? Oth ers have asked. Hardware companies are up in arms, and pondersw hat this all means for their businesses. Mailboats and pleasure crafts are the only sea craftsp lying the seas of the Com monwealth of the Bahamas. The word has gone out, a ll of the international fishi ng tournaments launched from Bahamian islands and cays, have ceased. Private/Corporate jets no longer bear this precious commodity, on board. No more ice coolers laden with the products and bound for the North, to be off loaded. Air-marked for the dinner tables of the rich and famous, that chapter has been closed, and all of their manipulations, are no more. T he once crystal clear waters of the Bahamas have now been replaced by a b ody of brownish dark oily s ludge which have travelled t housands of miles from the point of the oil rig and havei ntroduced themselves to the s hores of the once tranquil and pollution free beaches. Not only had the crystal clear waters of the Bahamas disappeared, but so too were the profits, all gone for eternity, leaving the country w ith a few pennies and this c olossal mess. What has led to this? M any unsuspecting folk h ave asked. A unty Maggie sitting in the corner of her two-room wooden house, as sher eplenishes her pipe with the tobacco leaves grown in some southern country. Recounted, as she struck them atch, sucking and pulling aggressively letting out a cloud of blue smoke. You d ont listen, my mama told m e years ago, that nothing l asts forever, what goes up must come down. What is shipped out the country, is gone forever. What you have you should try to keep. Now, what you asked, you had b etter talk to the good Lord, o nly he knows what to do. She concluded, you didnt l isten, smiling, and now you m ust feel. The other people from the s outh our neighbour, no longer have the need to come, and are now looking f or other conquests. The crux of the matter is t his that the fisheries products of The Bahamas have been fished out...There isn othing, totally ruined. Many nations have been a llowed to contribute to this, because we lacked the legislation and enforcement of n ot only our fisheries laws but so too our environment al laws which are a travesty. F GILBERT Nassau, June, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, MONDAY, JULY 4, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES S witchboard (News, Circulation and Advertising) 322-1986 A dvertising Manager (242 C irculation Department (242 N assau Fax: (242 F reeport, Grand Bahama: 1-(242 Freeport fax: (242 W EBSITE w ww.tribune242.com updated daily at 2pm BRUSSELS When the European Union's highest court hears arguments Tuesday that Europe should not charge U.S. airlines for their carbon emissions, it will be a showdown between environmental protection and cold cash. S tarting January 1, the union intends to expand its emissions trading system to cove r emissions from most flights that touch down in, or take off from, European air ports. That means even foreign airlines will have to buy some of their carbon permits from traders and European governments. Promoters of the change say the rules, which were approved by the 27 member n ations of the European Union in 2008, should force airlines to speed up adoption of g reener technologies at a time when air traffic, which represents about 3 per cent of global carbon dioxide emissions, is growing much faster than efficiency gains are cut ting those emissions. Many European governments say they will use the extra income to help offset spending on climate protection. But the plan has generated fierce oppo sition from airlines, many of them based outside Europe, that say that the union has no right to charge for emissions on routes that are mostly outside European airspace. On Tuesday, the Air Transport Association of America, an industry group, and some major U.S. airlines United and Con tinental, which merged last year, and Amer ican will appear at the European Court of Justice in Luxembourg to argue against the way the system will be applied by Britain. As home to London Heathrow and other busy airports, Britain has the highest carbon dioxide emissions from aviation in the union, making it essential to the union's reg ulation system. A decision by the court supporting the U.S. airlines would damage the initiative, European regulators and European airlines say, because the involvement of foreign carriers is critical. An advisory opinion could come within months, with a final judgment possible before the system comes into force in 2012. Lawyers for the U.S. carriers are expecte d to argue Tuesday that the system con flicts with the Chicago Convention, an inter n ational accord that gives countries sover eignty over their airspace, and with the Kyoto Protocol, a climate treaty. The airlines also are expected to attack the cost of the system and the lack of firm guarantees that revenue would be used for climate protection. Seeking to ease the dispute, European officials have emphasized that they will exempt incoming flights if other countries t ake "serious measures" to reduce emissions that would be considered equivalent by the u nion. European officials also began discussions with national governments on introducing rules requiring them to use the revenue from permits to tackle climate change. But they say delays are out of question. ''We are not thinking at all about the p ossibility of changing our legislation," Jose Manuel Barroso, president of the European C ommission, said last month. "All the world should unite in some kind of directive like this one." European officials said that they had moved ahead with the law when a U.N. body, the International Civil Aviation Organization, had failed to agree after more than a decade of talks on an international system for regulating greenhouse gas emissions from aircraft. What is clear is that by charging airlines for their carbon emissions, the EU would do more than protect the climate. The system could be lucrative for countries, like Britain, with busy airports and ballooning budget deficits. Britain already generates about mil lion, or $800 million, annually from auc tioning permits to polluting industries under the union's emissions trading system, according to the Office for Budget Responsibility,a government-financed body that operates independently. It could generate a further million next year from airlines, while nations across the union could net about 480 million euros, or $695 million, according to rough esti mates by bankers and analysts. Airlines say that some of the money they will spend on carbon permits will end up subsidizing struggling governments. ''Countries like Britain have reserved the right to use the money how they see fit," said Nancy Young, a vice president at the U .S. trade group. "Helping Europeans out of their fiscal h ole is not the aviation industry's job." (This article was written by James Kanter of The New York Times News Service). A vision of Bahamas in 2020 LETTERS firstname.lastname@example.org Showdown over airlines carbon emissions www.rbcroyalbank.com/caribbean Trademarks of Royal Bank of Canada. Used under licence. NOTICERBC Royal Bank (Bahamas INVITES TENDERSRBC Royal Bank (Bahamas tenders for the purchase of the following: All THAT piece parcel or lot of land being Lot No. 112 situated in Westridge Estates Subdivision situated in the Western district of the Island of New Providence one of the islands of the Commonwealth of the Bahamas. Property Size: 22,000 sq. ft. Building Size: N/A This property is being sold under Power of Sale contained in a Mortgage to RBC Royal Bank (Bahamas All offers should be forwarded in writing in sealed envelope, addressed to the Manager, Royal Bank Commercial Financial Services, P.O. Box N-7549, Nassau, Bahamas and marked Tender 7939. All offers must be received by the close of business 4:00 p.m., 8th July, 2011. EDITOR, The Tribune. IT WAS an act of God. The generators failed. It was an u nforeseen circumstance. The generators are being over hauled. When is BEC going to be the object of positive discussion in the Bahamas? BEC has now asked consumerst o run their generators during peak periods. There is a serious problem at the Bahamas Electricity Corporation and this problem has transcended all Bahami an governments; and there appears to be no signs of i mprovement. Is it the lack of proper equipment? Is it the l ack of specialty engineers? Is it poor management? The truth needs to be told to Bahamians once and for all. We as Bahamians are tired of these relentless power cuts. D EHAVILLAND MOSS Nassau, June 29, 2011. B AHAMIANS ARE TIRED OF RELENTLESS POWER CUTS
LOCAL NEWS T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 5 ;M^MV\P*W_T"
DEEP WATER CAY, GRAND BAHAMA Deep Water Cay has played host to a group of celebrities filming an episode of an Outdoor Life network television show called Buccaneers and Bones. Buccaneers and Bones is a series that explores all facets of bonefish fishing through the pas sionate and knowledgeable views of an all-star cast. While fishing is important and sets the stage for the programme, the real thrust of the show is of conservation and preservation of some of the worlds most treasured resources. Deep Water Cay played hosted NBC television journalist Tom Brokaw who also serves as the narrator of the series. Brokaw was joined by actor Michael Keaton, Yvon Chouinard, the founder of the retail company Patagonia, Bonefish and Tarpon Trust board member Bill Klyn, legendary fly rodder Lefty Kreh, and Dr. Aaron Adams, Director of Operations for the Bonefish and Tarpon Trust. The formation of the series is about as interesting as it gets as related by Bonefish and Tarpon Trusts Board Member Bill Klyn who helped launch the television series a few years back. According to Bill, Chris Dorsey and the late Jim Range from the Theodore Roosevelt Conservation Partner ship reached out to me to help connect the proposed television series with the angling community. The show was originally launched on ESPN and was named Pirates of the Flats. Rather than create a show that appealed to just hardcore fishermen, we decided to include actors and celebrities and to focus on conservation initiatives. Excellent flats-fishing provides a scenic backdrop, but the magic lies in the surrounding activities. The casts life experiences are significant which makes for fasci nating conversations on board the boats, at cocktail hour at the Tiki Bar, and at our evening dinner, said Klyn. Chris Dorsey and his production crew are never outdone. His cameramen, editors and creative film techniques completely capture the essence of the show. At the heart of Buccaneers and Bonefish is conservation. The remote and unpressured East End of the Bahamas is very different from many other tropical environments, and can serve the marine research community to help establish a baseline for suc cess. Back in the 1960s, Boston Red Sox Hall of Famer and fly fisherman Ted Williams reported that there was phenomenal bonefish fishing at Grand Cayman. Practices of netting, over fishing, and poor handling collapsed the population. Now there are none. Bonefish and Tarpon Trusts Dr. Aaron Adams has been a tireless advocate for two of the fish for decades. Buccaneers and Bonefish is an ideal vehicle for spreading the con servation word, Adams said. Our tagging initiatives have been instrumental in identifying move ment patterns. At Abaco the guides have tagged over 1200 fish and have recaught 20. At first blush we have proof that catch and release works. But when we dig a little deeper we learn that the tagged fish are recaught only a few miles from where they were originally landed. Other fish actually cover great distances. At Andros Island, bonefish moved over 40 miles from the West End to the East End to spawn in the deeper water. After spawning they returned back to their origi nal areas on the West End, lending insight into anadromous species patterns. Look for the Bucca neers and Bones Deep Water Cay event to air next season. B y LAMECH JOHNSON WINNING artists of the national independence logo competition have expressed desire for more Bahamian art competitions for which they can enter. Following presentations at the National Pride Day flag raising c eremony where cash and prizes were awarded to the winners Jeremy Cartwright, Jason Taylor and Kam Cheng, all agree there arent enough contests for artists to compete in. The Tribunes Jason Taylor 30, second place finisher in the competition, said: There arent many art competitions out there and I saw it as an opportunity to voice self-expression. Nevertheless, he was grateful to be apart of the contest and was inspired by the theme of Bahamian pride. The opportunity to express myself artistically with the theme of Bahamian pride doesnt come too often so I felt this was the time to display my talents and patriotism. Third place winner Kam Cheng, 36, migrated to the Bahamas a few years ago and saw the competition as an opportunity to give back to the Bahamas even though there arent a lot of art competitions and even fewer at a national level like this. Ive been here for two three years now and this competition for me is a way to give back to the country. Jeremy Cartwright, 19, and first place winner of $1,000 and an iPad, said he had nothing to lose entering the contest because it was a good way to use his talent. I saw the competition as a good opportunity for art, being a young artist myself. It was a good way to use my talents and I really didnt have anything to lose entering the competition. LOCAL NEWS PAGE 6, MONDAY, JULY 4, 2011 THE TRIBUNE FROMLEFT: Third place winner Kam Cheng 36, Anita Bernard Secretary to the cabinet, 2nd place winner Jason Taylor 30, 1st place winn er Jeremy Cartwright 19, and Ambrose Fernander WINNING ARTISTS SEEKING MORE BAHAMIAN CONTESTS NATIONALINDEPENDENCELOGOCOMPETITION DEEP WATER CAY was proud to play host to the TV crew Buccaneers and Bones, filming for Outdoor Life. But Meko Glinton, a Deep Water Cay guide, was even prouder to fish with w ell known actor and comedian Michael Keaton, who famously p layed Batman. Buccaneers and Bones, Deep Water Cay show will air next season on Outdoor Life.
By LAMECH JOHNSON AT THEopening of the Occupational Safety and Health Workshop at the British Colonial Hilton last week, a cabinet minister spoke on the cooperative his tory of the USA and theBahamas. Minister of Labour and Social Development senator Dion Foulkes said the two countries working together have been beneficial to the Bahamas, as it led to being apart of historic events. He said: The history of cooperation goes far back and covers several truly historic events. Many may not be aware that most notably this cooperation even included the American mission to put a man on the moon. Two islands of the Bahamas had telemetry stations built so as to monitor NASA rocket launches, and the moon buggy was tested on a third Bahamian island. Mr Foulkes also commented on the economical benefits obtained from the cooperation. We can see the benefits of this continuous cooperation in the American lease of the AUTEC base in Andros, and in the Bahamian economys mainstay, tourism as the majority of our visitors are from the United States. He welcomed delegates from the Occupational Safety and Health Administration (OSHA Department of Labour as the workshop brought technical officers from the Bahamas and the USA together to share ideas and exchange best practices in the field. Ladies and gentlemen, I have high expectations for this workshop and look to see the results where it counts the most, which will be the low incidence of con struction related accidents and injuries. The workshop is a followup to ta visit by Department of Labour to the US Department of Labour. B y GENA GIBBS Bahamas Information Services SOLAR PHOTOVOLTAIC SYSTEMS may becomem andatory to The Bahamas b uilding code, as the government shepherds Bahamians through the impact of climate change and the rising costs of global energy prices. The National Energy Policy isd esigned to guide Bahamians to reduce energy consumption, especially people living in low-income homes. This is a programme to encourage Bahamians to b egin to use some of the gifts t hat God has given us, some of our natural resources, which is that of solar energy.T hese solar water heaters cost b etween $3,000 and $3,500 each, after installation, and they themselves can pay fort he investment over a two to three year period, said Phenton Neymour, Minister of S tate for the Environment. So, again we encourage Bahamians to use solar water heaters and this is the initia t ion of our second component of our energy efficiency programme. The installation was p rovided for by the IDB grant and the cost is not affecting the homeowner significantly. On June 22 the Ministry of t he Environment, the Mini stry of Housing, and the B ahamas Electricity Corporation (BEC menting the installation of s olar water heaters and solar photovoltaic systems on gov-e rnment built homes at the A rdastra Gardens Subdivis ion, to monitor the effectiveness of the energy efficiency programme. The basic requirement for the solar water heaters and the PV, which is the photo-v oltaic systems, is basically t hat they will be for lower income homes or smaller homes, around the size orb elow the size of 2,000 square feet, said Mr Neymour. We are installing 34 of t hem in government low-cost housing. Were going to dis tribute 100 additional solar water heaters to Bahamians. T here will be an equitable system in which we will use to distribute them, said MrN eymour. This is the beginning of that distribution. We will pub-l icly announce when the gene ral public can submit their names and applications. Of course there will be a qualification process and a requirem ent that they will meet a m inimum requirement in o rder to qualify for this distribution. LOCAL NEWS T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 7 GOVT INSTALLS SOLAR WATER HEATERS IN ARDASTRA GARDENS COMMUNITY MINISTER OF STATE FOR THE ENVIRONMENT Phenton Neymour telling the press of the plans to install 34 solar heaters in government low-cost housing and to distribute 100 additional heaters to Bahamians, through an equitable system. MINISTER SPEAKS ON COOPERATIVE HIS TORY OF US AND THE BAHAMAS
LOCAL NEWS PAGE 8, MONDAY, JULY 4, 2011 THE TRIBUNE THE Rotary Club of East Nassau held its c hangeover ball at the Nassau Yacht Club where president Joanne Smith handed over t he reigns of the club to Adam Darville, the president for the Rotary year 2011-2012. The event, which was held under a red and w hite Brazilian New Year theme, was attended by more than 100 Rotarians and g uests. The occasion was also used to recognise individuals from the club and community for their efforts in the past Rotary year. Michael Pinder was rewarded for his work o n the clubs board of directors, Desiray Ingraham for her work on Rotary youth prog rammes, and Jaime Lewis of the Rotaract Club of East Nassau was recognised for his r ole in their club being voted Rotaract Club of the year for the second consecutive year in Rotary District 7020. M arcquel Bethel, who died in January of this year at the age of 39, was also recogn ised posthumously for his service to the Club. The final award of the evening was for Rotarian of The Year, which went to Paul Cartwright for his work on community ser v ice projects. By MATT MAURA Bahamas Information Services GREATER focus will be placed on reducing the incidences of youth and other violence within the Commonwealth of The Bahamas, said Minister of National Security Tommy Turnquest. Mr Turnquest said the move is part of the Governments expanded crime prevention strategy designed at reducing the levels of crime, criminality and violence in the country. Mr Turnquest said youth violence has been characterised as a high priority, high visibility con cern across the Caribbean The Bahamas included. Reports published by the World Bank and the United Nations indicate that not only has youth violence grown in the region in recent decades but that youth are disproportionately represented in the incidence and severity of this trend, both as victims and perpetrators. Youth represent a unique window of opportunity to both prevent and reduce crime and violence in society at-large, Mr Turnquest said. Mr Turnquest said crime and criminality are complex problems that prejudice both the social and economic development of The Bahamas and the Caribbean region. The Government of The Bahamas recognises the seri ousness of the problem and has been implementing innovative policy responses both nationally, and in collaboration with our regional and international partners, he said. One such response has been the implementation of the Royal Bahamas Police Forces Peer L eadership Programme for youth, in addition to Her Majestys Prisons communitybased initiatives Partners Against Crime (PAC Students Against Violence Everywhere (SAVE These social programmes supplement and complement the work that our law enforcement a gencies do with young people and in particular, the Cadet Prog rammes at the Police and Defence Forces and the Defence Force Rangers Programme. This approach is of particular interest because crime prevention is a critical component of governments crime and crimin al justice strategy, Mr Turnquest said. T he National Security Minister said government will counter crime on all fronts from law enforcement to legal; economic and social to moral and ethical and from old-fashioned policing using new techn ologies. Preventing crime is not something we do once and it is done, he said. It is an ongo ing process by which we make it clear to those who commit crimes that the odds of getting caught are great, and to frighten them into not even trying. Addressing members of the Prince Hall Grand Lodge and Grand Chapter during their r ecent convention, Mr Turnquest challenged the members of the Prince Hall Order and other fraternal, social and community organisations to give focused attention in taking on additional programmes of youth development for our at-risk youth. He said at-risk youth are those who face exceptional challenges in the traditional avenues of s ocialisation, principally in the family, community, school and workplace. While the government continues to pursue various initiatives, we are of the view that every organisation governm ental and non-governmental as well as every citizen, has a c ritical role to play as we continue to work on reducing crime. There is critical imperative for each of us to focus on developing and implementing focused strategies aimed at addressing crime and I am of the view that t he Prince Hall Family of Masons and Eastern Stars, is well positioned to do so, Mr Turnquest added. ROTARY CLUB OF EAST NASSAU CHANGEOVER BALL CHANGEOVER :president Joanne Smith handed over the reigns of the club to Adam Darville. ROTARIAN OF THE YEAR Paul Cartwright with Adam Darville and Joanne Smith. Minister: greater focus will be placed on reducing youth violence B y MIKE LIGHTBOURN Have you ever experienced a live l y family discussion in which emotions were highly charged, and where the parties to the discussion each hadd ifferent outcomes in mind? Been t here, done that? Most of us have. Your BREA agent plays several roles in a real estate transaction. Ani mportant role is that of intermedi ary or conciliator. Selling a home is often an emotional time for the owners. They are giving up their pre sent home and closing the door on possibly years of memories. Of course, selling the home at the best possible price in a reasonably short period of time is the usual goal. Purchasers, on the other hand, often have goals diametrically opposed to those of the vendors. They hope to purchase the home at the lowest price possible with favourable terms, and often try to obtain concessions. Even when both parties are courteous and respectful, the potential exists for bruised feelings and heightened emotions. B y listing your home with a BREA agent, property owners gain a thirdparty to represent their interests. Asa so-called third party, the agent has no emotional attachment to the home. This allows the agent to serve the vendors in an objective, businesslike a tmosphere. Purchaser concerns and purchase offers can be relayed to the vendors without emotion. Vendor require ments can be explained to the pur chasers in a similar manner. The result c an be a highly satisfying purchase and sale for a ll parties, conducted by your BREA agent in a positive, productive tone. W e know that there are often many obstacles to overcome and it is always hoped that each sale results in a happy ending, in spite of the possible hurdles. (Mike Lightbourn is president of Coldwell Banker Lightbourn Realty). REAL ES TATE: TAKE A FEW DEEP BREATHS Part of expanded crime prevention strategy
By ADRIAN GIBSON email@example.com I wish to say a special thank you to all of this columns faithful readers who expressed their condolences and kind regards over the last few weeks since the sudden and tragic passing of my dear uncle (Aaron Gibson who was like a father to me. While my heart still cries and Im gradually and sometimes emotionally writing a column to commemorate himto be published in the coming weeksI remain grateful for all of your support and prayers. Prior to my uncles death, I had already taken a sabbatical from writing this column to prepare for end-of-semester examinations. ***** A S we enter the second half of 2011, it is clear that a tsunami of death and mayhem has surged over Bahamian society. Above all the other Bahama Islands, New Providence is becoming a crime-plagued, filthy and populous township where the spiraling rate of violent crime appears to be only comparable to a pandemic for which there seems to be no wave of immunisation. In what appears likely to be yet another record-setting year for murders, the murder count has exceeded 60 murders midway through the year and our society is gripped by ghoulish, criminal incidents that know no frontiers and have crept into nearly every nook and cranny of our country. When hearing reports of murders and robberies in outlying, relatively quiet islands such as Andros, Exuma, Long Island, Grand Bahama, Eleuthera, Abaco and even Bimini, it is clear that the high rate of violent crime has mutated across the archipelago. It is baffling to note the daily stories of death and violence that is sending shivers down the collective spine of the entire Bahamas, a once quaint society that, in the past, policed itself. At this rate, as it relates to crime, the Bahamas will soon be on a respirator and appears to be a banana peel away from slipping into a state of disorder as the criminal element becomes more and more emboldened. Indeed, crime is a hot button issue that has catapulted to the forefront of the national con sciousness and engendered the publics fury as fellow Bahamians are falling like stunned bugsat the hands of vicious crimi nals and there appears to be a depreciated outlook on the val ue of human life. In their state of alarm, Bahamians have become more distrusting of their fellow countrymen and are swiftly arming themselves with cutlasses, shot guns, bats and taking other safety measures to ensure their security. The rule of law, as noted by the great philosopher Aristo tle, is preferable to that of any individual. British philosopher Thomas Hobbes opined, in his work Leviathan, that without the rule of law, life would be "nasty, brutish and short." The law is expected to fundamentally underpin all societies, how ever, the authority of the state is being openly challenged by organised and sadistic criminals. T he crime hotspot New Providence has been beset by house break-ins, vehicle and boat thefts, arms trafficking, migrant smuggling, highjackings, money laundering, identity theft, fraud, cyber crime, robberies, rapes, drug peddling, and heinous murders and driveb y shootings. The past year last decade has been one of murder and bedlam, as carnage has been left about the nation's streets and a blanket of grief is draping many families across the archipelago. As a vicious cycle of retaliatory violence is being unleashed and our nation descends into becoming an absolute madhouse, it is obvious that our moral fabric is tattered. Locally, the notion of selective justice must be stamped out. Respect for the law has been eroded even at the highest level of government by influence peddling and deal-making. It is known that some of the country's movers and shakers fail to heed the law them selves as there is a conspicuous level of deception and transgressions by some unprincipled politicians and white collar criminals that, for the most part, go unreported. Crime is an insidious scourge on our society that must be tackled at every level. There isa common consensus among the populace that the crime rate is too high and, for many, that capital punishment should be carried out, so it perplexes me how time-wasting committees continue to be appointed and/or are deferred to. Surely, the movers behind such com mittees should realise that the Bahamian people are not intellectual midgets! Indeed, over the last few years, international attention has been drawn to the Bahamas due to the spate of tourist-relat ed robberies. However, the police must also pay speciala ttention to certain drug ped dling taxi-drivers who, it is claimed, offer illegal substances to tourists or facilitate their drug hunts. Certainly, our economic lifelinetourismis in jeopardy and becoming seri ously endangered. Unfortu nately, the public-at-large willh ave to bear the price for the misconduct of social miscreants and when the countrys image is tarnished by boneheads. Some time ago, I called for a "212 day", pursuant to the Penal Code, chapter 84, section 212 of the Bahamas' statute laws. On such an occasion,t hrongs of police officers should be deployed on to the streets to conduct this dragnet opera tion. Indeed, such an operation would net thousands in fines, lead to the apprehension of wanted criminals and target those individuals who are selling food out of the back trunks of vehicles without health certificates and other documentation; apprehend those who illegally light fires and destroy government/private property; arrest persons who unlawfully affix signs on buildings or pub lic property (e.g. utility poles fine persons who do not have a permit from the Commissioner of Police that allows them to p ly their wares or hold demonstrations; fine hawkers and those loiterers who harass persons outside of banks, at ATM depots, pharmacies or while waiting at a fast-food drivethru; penalise those peddlers of fruits, clothes and phone cards who do not have the proper d ocumentation; throw the book at persons who play loud music or make noises to the annoyance of others, and so on. While enforcing the law and addressing serious crimes, petty crimes must be dealt with before they become larger criminal undertakings. In a column published on June 21, 2008 I said: "In fighting crime and reversing the apparent lack of reverence for authority, law enforcement officials must adopt former New York mayor Rudy Giuliani's 'broken window' approach and seriously enforce the laws across the board--without ignoring any infraction. Furthermore, its high time close circuit television (CCTV installed, more strategic Defence Force patrols are directed at minimizing the smuggling of illegal weapons/ammunition, that police officers are heavily deployed to those boroughs with the highest instances of crime and that police officers strengthen their relationship with certain communities and thereby better their intelligence-gathering abilities." Today, there is evidence that some of this advice has been taken into account but there remains much room for improvement. It is a sad fact to note that Bahamians have today resorted to living in caged enclaves, due to the social menaces that most likely cropped up out of a broken home--absentee parent-and the unrelenting pursuit of material possessions. Even more, it is troubling to note thatB ahamians are seemingly becoming anesthetized to the accounts of the daily bloodbaths that are vividly broadcast on the nightly news programmes. According to social scientist Dr Silvius Wilson, as a society "we must look at the root causeo f crime". Dr Wilson states: "Crime also stems from poverty, inequality and people's life chances, their education or lack thereof and an inability of some to rationalize. Very often, whena fight occurs for example, sig nals break down in their abilityt o reason. While it is good for the police to detect, they are only a wider approach to crime. "We must look at the social issues and consider them in a holistic way. It is very seldom that you can point to a social issue and say that it occurred for one or two reasons. There isa complex genesis as to its occurrence. We must look at where it started, what are some of the manifestations and have a sophisticated and focused response to crime," he reported. Instead of pontificating on petty political matters, the church could have a huge impact in the fight against violent crime. It appears that the church lacks the impetus and the spiritual wherewithal to take a hands-on lead in addressing this pressing matter. My criticism of certain church-related practices in New Providence arise as I have witnessed my grandfather (Edward Gibson an ordained Bishop in the Church of God (Long Island exhibit kindness and a spirituality that has been manifested in his Christian/community outreach--not the pursuit of material wealth, meddling in the affairs of the state or in the use of empty words as I've observed with many New Providence-based pastors. After a convicted murderer is sentenced, a death warrant should immediately be read. Furthermore, all appeals should be heard within 18 months after sentencing. Workers Party leader Rodney Moncur's determination to remain vocal about violent crime and punishment is impressive. Mr Moncur has projected himself as a fairminded campaigner in sensitizing a seemingly desensitized populace to the travails we presently face. Mr Moncur's campaign in the public's interest is a far cry from that of certain politicians who seem too insulated and too preoccupied with themselves to be genuinely concerned for others -too indifferent to the suffering of victims. In the Bahamas, there remains a need for more judges and support staff to alleviate the backlog of cases; a serious programme to attach electronic tracking devices to the ankles of accused offenders on bail, which was supposedly initiated but little has been heard of it since then; and a sex offender's database must be created. As school children continue to glorify violence and sadism, it is incumbent upon parents to instil a sense of ethics and T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 9 The Mercedes-Benz C-ClassYour most enjoyable drive ever.The Mercedes-Benz C-Class is a pleasure t obehold 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. NOTICET enders are invited for the purchase of the Equity of Redemption in all that t he City of Nassau being part of a lot of land originally granted to Nancy G reen and distinguished in a plan of the City of Nassau by the number o f the one part and the Lamont Holdings Limited of the other part and rePrime Commercial Property for Sale Fighting rising crime in New Providence Y OUNG M AN S V IEW ADRIANGIBSON SEE page 12
P AGE 10, MONDAY, JULY 4, 2011 THE TRIBUNE By SIR RONALD SANDERS ( The writer is a Consult ant and former Caribbean d iplomat) A T midnight on 17-18 April 1980 as the flag of independent Zimbabwe was raised for the first time, Tanzanias President, Julius Nyerere, t old the new Prime Minist er, Robert Mugabe, that he had inherited the jewelof Africa. Since then the jewel has become extremely tarnished. Today, Zimbabwe has the highest ratio of debt to G DP in the world, its tale nted people have fled the country and so too have h undreds of thousands of i ts unskilled workers. Catastrophe: what went wrong in Zimbabwe? is the title of a soont o be released book by Richard Bourne, Senior Research Fellow at the Institute of Commonwealth Studies at London University. The Book will be published by Zed B ooks, London. M uch has already been w ritten about Zimbabwe and its decline since itsi ndependence in 1980. T here is also a great deal of literature on Southern Rhodesia, as Zimbabwe was known before independence, particularly the Unilateral Declaration of Independence (UDIw hite minority regime led by Ian Smith. What has not yet been a ttempted is an account of h ow a country that emerged with such international goodwill and with considerable natural resources and markets for i ts products could decline so drastically in thirty y ears. Bournes book is a well-researched investigation of this question. The contention of the b ook is that the central cause of Zimbabwes problems what caused the r acism that characterized t he country as Southern R hodesia; what bedeviled the Constitutional Confer-e nce leading to its indep endence; and what eventually led to its economic collapse, political instability and human rights atrocities is land. C ecil John Rhodes was one of the biggest rogues to have entered Africa. The Rhodes scholarship, which he endowed at Oxford University, was provided on the back of t he most nefarious land g rab, in what is now Zim b abwe, ever orchestrated by one man. In 1888, hed uped King Lobengula of t he Ndebele into signing over to Rhodes chartered company complete chargeo ver the metals and minerals in his kingdom together with full power to do all things that theym ay deem necessary to win and procure the same. At the point of a gun thereafter, he proceeded to displace Africans from their land and had no compunction in calling the land he s eized, Rhodesia, after himself. I t was not all plain sailing. Both the Ndebele and the Shona tribes rose up in protest at the seizure and o ccupation of their land. They were cut down brutally, some even dynamited i n caves in which they hid. B y 1914, the land available f or Africans was only 20.5 million acres out of a totali n Southern Rhodesia of 96 m illion acres. The situation worsened over time. By 1931, Bourne records that leaving aside the tribal trust lands for Africans n ot expected to be part of the European economy, 7.4 million acres were set aside for African purchase and 49 million acres for Europeans. White emigration to S outhern Rhodesia was e ncouraged after the Sec o nd World War. And there was every reason for Euro-p eans to take advantage of i t. They had access to land they could not purchase in their own homelands; theyh ad a ready source of cheap African labour both for their farms and their homes; and a life style fars uperior to their conditions at home. The white popu lation rose sharply from 8 2,000 in 1946 to 135,000 in 1951 and then doubled again to 223,000 by 1960. By 1965, Ian Smith and his white minority government made their unilateral declaration of independ ence, determined to keep c ontrol of Southern Rhodesia and to deny the n ative Africans their politi cal, human and civil rights. S uccessive British governments both Labour and Conservative refused toi ntervene militarily to promote majority rule. But all of Britains former colonies that by then had come to independence and joined the Commonwealth were determined t hat racism in Southern A frica should not subsist, a nd that majority rule s hould be established. A series of events, well r ecorded by Bourne includ ing the machinations of Henry Kissinger, then US Secretary of State, and thea bandonment of Ian Smith Catastrophe: What went wrong in Zimbabwe? WORLDVIEW S IR RONALD SANDERS SEE page 13
which so many are being forced to exist, there is no way that I can speak about future hopes to you without first honestly addressing and taking head-on the very force or forces that stands in the way of hopes progress. Speaking at the partys Grand Bahama launch on Saturday, Mr McCartney explained the Grand Bahama Port Authority was born as a result of a trust agreement between the government and early developers of Freeport, and had been reduced to a shell of its original self that would probably welcome help and assistance from the government. Mr McCartney said: Within the first 180 days after taking office, the party, along with the principles and stakeholders in the Port Agreement, begin the process of transformation by engaging in meaningful dialogue to ensure that the Port Agreement of 1955 and its subsequent amendments are relevant to the realities, the needs, and current challenges of a modern day Grand Bahama and its citizenry. Mr McCartney maintained that if elected his government would engage locally owned private authorities to lower port taxes and to implement and agitate for initiatives for easier access to trade and commerce by local business persons. Mr McCartney said: The DNA will move to bring incentive legislation that would allow business entities throughout Grand Bahama, for a period of time, to enjoy the same concessions that are presently granted to licensees of the Port. The relief, according to Mr McCartney, would allow for an ease in operating expenses for businesses throughout the island and encourage the flow of visitors and residents into West End, the cultural heart of Grand Bahama. Mr McCartney said the party would also seek to establish a school of Science and Technology with a tertiary institution to supplement demand for a highly skilled workforce necessary to grow and sustain the industries. He said: I believe that in 1955 a deal was made, but as it stands today, every indication is that the deal made in is now broken in 2011, and the people of Grand Bahama, caught in the middle, are now suffering. The party Other initiatives also suggested include: The creation of a governmentowned dock and cruise port in the Hepburn Town area of Eight Mile Rock; the development of film and creative arts studios in the eastern end of Grand Bahama and a School of Film and Creative Arts at the College of the Bahamas Northern Campus; a national educational plan, which will feature a redesigned school curriculum; and the construction of hurricane shelters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andidates announced include Karen Davis, businesswoman, Marathon; Dario Terrelli, sales manager at Seaboard Marine Bahamas, Blue Hills; Osman Johnson, attorney, Pine Ridge; Roger Rolle, businessman, West End & Bimini; Shawn Francis, businessman, Rum Cay, Cat Island & San Salvador; and Philip Thomas, businessman, High Rock. The party also formally announced the candidacy of defence attorney Wayne Munroe, SkyBahamas CEO Randy Butler and Galleria Cinemas CEO Chris Mortimer to run in the Mount Moriah, North Andros and Sea Breeze constituencies respectively. Some 1,000 residents attended Saturdays launch, according to hotel workers who had to open an additional room. A resident said: I think its good for democracy for there to be another option other than the two. [New voters] dont connect with the FNM and the PLP, we want a relevant, 21st century party and government. This party has a lot of potential if they can stand the test of time and provide substance we dont just want focus on the cosmetics. We need a consistent and persistent party this isnt just something that happens overnight. Despite losing three seats on the island to the PLP in the 2002, Grand Bahama has been long considered FNM country. The FNM won back all but one of the seats in the 2007 general election. took advantage of the opportunity. We are pleased to report that the entire process related to the offer of voluntary packages to staff has gone fairly smoothly. We are now starting the next phase, which is to evaluate the applications and facilitate the disengagement process for successful applicants in a way that maintains the integrity of the operations and ensures proper standards for customer service, said Geoff Houston, chief executive officer (CEO We are grateful to all colleagues for the very professional manner in which they have conducted themselves throughout the process so far and anticipate their continued professionalism as we move to the next phase of this exercise. The first redundancies will be made around mid July. The dates for successful applicants will be staggered, as not to disrupt business activities. The voluntary separation package was a key part of the deal for Cable & Wireless Communications to purchase 51 per cent of BTC, placing it under its Caribbean-wide LIME umbrella. Mario Curry, vice president of the Bahamas Communications and Public Officers Union (BCPOU probably be higher than CWC anticipated. Not everyone will be able to take advantage of the package. You can't let go everybody because the company wouldn't run. Hopefully by July 15, or thereabouts, people will get the news whether they were accepted to go or not, he said. FROM page one AMEND TRUST AGREEMENT FROM page one BTC EVALUATING APPLICANTS F ROM page one SIX NEW AGENTS OF CHANGE UNVEILED
LOCAL NEWS PAGE 12, MONDAY, JULY 4, 2011 THE TRIBUNE responsibility so that a new generation of anti-social criminals is not bred. Crime has reached a point where the police/officials and the community must engage in wider dialogue and consultation to effectively confront it--it requires a national partnership. The police com missioner, Ellison Greenslade, seems to be devising strategies to disrupt criminal activities and effectively target the criminal element while impressing upon the public the urgency of their assistance in making it difficult for these scoundrels to evade detection but, more can be done if all the community stakeholders work in unison to collectively fight crime, from the home to the streets. Indeed, there is a need for a social renaissance. It saddened me when my grandmother (Lenora Gibson Island, asked me on Thursday, when I told her I felt like going for a stroll, if people still leisurely walk around in Nassau. She asked that question because she was likely thinking about the upsurge in violent crime and how walking may leave a person more exposed to perhaps becoming a victim of crime. Frankly, it is high-time that the police are equipped with helicopters to track and chase criminals as well as conduct intelligence gathering and surveillance exercises. The Bahamian society is a powder-keg. Maybe, just maybe, the movers and shakers at the Ministry of National Security should also go to the blocks and visit the prison to discover--first hand--what led these individuals into a life of crime while drafting a more effective plan to fight crime. FROM page nine Fighting rising crime family business of Deborah Jackson, ELA chief administrative officer (CAO He said Ms Jacksons interests in The Reef were known, noting that the restaurant has been in the Jackson family for years and is a well known Bahamian business. That was my recommendation to use The Reef as needs be. It is supporting a Bahamian business. We do not see that as a conflict of interest, said Mr Mortimer. Loletta Jackson, owner of the Reef and mother of Deborah Jackson, said the restaurant has been around for 51 years, under one management. The restaurant is known for its Bahamian food, particularly boil fish and johnny cake. They did not have the party here. The food was fixed. I don't know what all of the big talk is. I don't want to get mixed up in this, said Loletta Jackson. They asked me for a quote and I did it like any other business who asks for a quote to cater to what they are having. Dont get me mixed up in this to do you have with this ELA. I am a business and I cater to lots of people whether it is family or whatever, she said. Documents seen by The Tribune indicate a payment of more than $1,100 was made by the ELA, under Deborah Jacksons signature, to the Reef Restaurant in December 2008 for catering for Christmas luncheon and rental of items. Another payment was made in December 2010 for more than $900 for catering/rental Christmas. Tribune sources said the Reef Restaurant was invited to submit a quote to the ELA like any other business. The 2008 payment was accompanied by a proposal written by Loletta Jackson to Deborah Jackson for catering a Christmas luncheon. The board has functions from time to time where they need catering. They leave it to me to determine where to go. Sometimes The Reef may have been used. There was no contract. We decided to get quotes and decided on where to go, said Deborah Jackson, when asked about the arrangement. Asked whether or not it was a conflict of interest for the ELA to do business with her familys business, Ms Jackson said: I am not prepared to comment any further. I do not know where you are getting this information from. Mr Mortimer is the one responsible for my actions so I guess he will have to be the one speak to that. I am not prepared to speak to that. I do not know where you are getting your information. I know I operate above board. I have been through a commission of inquiry, so I know that anything I do is totally above board. I am not prepared to speak any further. I am going to respectfully ask you to speak to the chairman, she said. A Tribune source said questions about the Reef arrangement were missing the point, because the ELA has bigger concerns. Two thirds of the debt managed by the ELA and its sister organisations is in default. There is a tripartite arrangement between the Loans Division in the Ministry of Education, the ELA and its agent the Bank of the Bahamas (BOB Every year, the government shells out millions and millions to settle with the BOB, and Tribune sources claim, no one is keeping proper records. The ELA does not have the proper software to keep up with its $100 million debt portfolio, said a source. There is a bigger more fundamental problem. They are struggling, trying to find out how to protect the public's money. Two thirds of the portfolio is in default. That is money gone. You think they are concerned about where the sandwiches are coming from, said the source. In a yet-to-be-published audit of the ELA by the auditor generals department, the arrangement with the Reef is noted in the findings, according to Tribune sources. The various forms of compensation paid to Deborah Jackson are also noted, including: a salary of more than $50,000; $5,000 in board remu neration, $10,000, as an honorarium for performing the duties of financial officer, and a $10,000 per diem, which some sources claim was paid on more than one occasion. The ELA board has not seen the audit as yet, according to a Tribune source, who doubted whether all of the findings will reach the actual audit. SEE INSIGHTONPAGE12B Friday and Saturday. BEC notes that the failure of this latest unit coincides with repairs to another large capacity unit that is being o verhauled. The unit was expected to be returned to service by end of week; however,c hallenges in shipping vital p arts resulted in a delay in the commencement of repairs, said the statement. The parts arrived late Friday and repairs began early Saturday morning. They were expected to take several days. Customers complained of outages that lasted three hours. In some cases they complained about experiencing multiple outages in one day. My light been off at least once every day dis week. Turnin off people power in dis suffocating heat is attempted murder, stated I'Bored Bey in a Facebook post. On the BEC fan page, Roy ann Hanna posted this comment: Ya cant even have a good church service without yall interrupting bey! Yall een gat no heart. Not even fa GOD! The Progressive Liberal Par ty (PLP saying the constant load shedding at BEC has made life u nbearable for many Bahami a ns. It called on the govern ment to explain the very seri ous problem with one of the 40 MW generators at the CPPS, and to provide an explanation why Generators DA9, DA10 & DA 13 are currently genera ting power at very low levels. In addition to its aggres s ive repair schedule, BEC is moving to secure portable temporary generators that should be installed this month. A company statement said: The Corporation understands the frustration of its customers especially as these outages coincide with rising summer temperatures. BEC had initiated a plan to have its units overhauled well ahead of summer, how ever the financial challenges that the Corporation has been in for some time has made this plan nearly impossible to realise. Moreover, during overhauls the need for certain repairs and spares have only added to the cost and the time it takes to bring these units back online. E DUCATION LOAN OFFICIAL USED THE SERVICES OF FAMILY RESTAURANT FROM page one FROM page one INTERNET ANGER A T BEC OUT AGES
T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 13 b y the apartheid regime in S outh Africa (by this time more concerned with their own survival), led to the 1979 Lancaster House Constitutional Conference on Southern Rhodesia. At the table were Ian S mith and his African puppets. So too were Robert Mugabe and Joshua Nkomo leading two separate groups, but recognized by the internat ional community as the genuine leaders of the African people of Southe rn Rhodesia. C hairing the Confere nce was Lord Carringt on, the British Foreign S ecretary. And, behind t he scenes, Shridath Sonny Ramphal, the Commonwealth SecretaryGeneral from Guyana who as Bourne puts it, was emphatic that he wanted an end to racism i n southern Africa under his watch. It is clear from B ournes account that C arrington had no inter e st in reaching a solution to the land questionwhich came up time and a gain, and was almost the cause of a walk-out by Mugabe and Nkomo. A last minute undertaking, worked out by Ramphal with the US government, was what persuaded them t o stay. The US President J immy Carter agreed to funding that would allow compulsory land purchas-e s. It was an undertaking never kept by Carters successor Ronald Reagan or any US Presidents ince. In the years since Zimbabwes independence land starvation becamea central issue for Zimbabwe Africans, particu larly those who were the s oldiers in the fight for f reedom in both Mugabe and Nkomos parties.Theirs was an agi tation, Mugabe could not i gnore. Unable to fund the compulsory acquisition ofm illions of acres of whiteo wned farms, Mugabe resorted to seizing them and the economy started i ts rapid decline. In short order, the country became a basket case with inflation so high and the value of the currency so meaningless that the Cen tral Bank actually printed $100,000 notes. The price of a loaf of bread reached $825. Unemployment soared to 60 per cent and people were starving. Over time, the land also fell into the hands of the political elite. As Bourne points out, in November 2010, Mugabe and his wife Grace owned fourteen farms and each minister and deputy minister had more than one; the vice president, her husband and their close relatives had at least 25, and so the list goes on. This second land grab in Zimbabwe was very much a part of Mugabes attempt to hold on to power in the face of mas-sive opposition. He rigged elections, caused his opponents to be beatenup, imprisoned, and killed, and hundreds of thousands of his people fled across borders as refugees. The jewel was completely blemished. Bournes book is an important contribution to understanding what went wrong in independent Zimbabwe; it is also a good account of all the factors that blighted the country and its people long before Mugabe came to power. Responses and previous commentaries at: www.sirronaldsanders.com CATASTROPHE: WHAT WENT WRONG IN ZIMBABWE? FROM page 10
BERLIN Associated Press A LL NATIONSmust commit to binding and verifiable goals to reduce their carbon emissions to reach a new international climate agreement as the Kyoto Protocol expires next year, G erman Chancellor Angela M erkel said Sunday. We now need concrete measures in every country," Merkel told environment ministers and negotiators f rom 35 countries gathered i n Berlin to lay the groundw ork for an international c limate conference in Durb an, South Africa, starting N ovember 28. G ermany and the European Union are pushing to agree on "a single and legal-ly binding treaty" replacing the Kyoto Protocol, with industrialized nations taking the lead and emerging economies also contributi ng to reduce greenhouse gas emissions, Merkel said. The 1997 treaty, named after the Japanese city, b ound nearly 40 countries to specific emission reductions targets. Kyoto expires. That's w hy we have to make it c lear what will be the way forward," Merkel told ther epresentatives at the inform al two-day meeting cochaired by Germany and South Africa. Steps The conference in Durban is unlikely to yield a final agreement, but major s teps in that direction have t o be achieved, Merkel said. We have a giant task here," she added, referringt o resistance from nations reaching from the U.S. to China to agree on ambitious binding climate tar g ets. Merkel stressed that emission reduction targets must not only be binding, but also verifiable. "As a matter of transparency ... it is necessary that someone c an examine whether one sticks to the commitments," Merkel said. T he institution or the p rocess overseeing the p rogress toward achieving the goals will also have tob e agreed on, Merkel said. T aking steps to fight climate change now comes with a cost and requires efforts, "but inaction would be yet more expensive," she said. "This is a challenge for humankind as a whole." S cientists say climate c hange already has begun with more extreme weather e vents, more frequent heat w aves and the melting of A rctic ice. In the negotiations toward a post-Kyoto agree m ent, developing countries h ave insisted that the near ly 40 countries bound to s pecific reductions targets b y the 1997 treaty renew and expand their commitments when they expire in 2012. But industrialized countries stress they want the r est of the world to show willingness to accept legal obligations, if not now at l east in the future. T he last time world leade rs tried to break the richpoor deadlock on climatec hange was at the 2009 C openhagen summit, which ended in disillusionment. Statement Instead of a legal agreement, it concluded with a political statement bro kered by President BarackO bama that failed to win u nanimous approval and a doption by the conference. Merkel said Sunday that a chieving the previously agreed goal of avoiding the planet's overall climate to warm up more than twod egrees Celsius will require to get carbon dioxide emis sions per head down to two tons, with the U.S. standing at 20 tons, Germany at 10 tons and China above 4 tons. T he chancellor said "emerging economies must share part of the burden b ecause industrialized n ations alone cannot reach t he goal." Merkel also said she had very detailed" discussions o n climate change earlier this week with visiting Chinese Prime Minister Wen Jiabao, stressing "the fundamental importance it also has for China." In one of the world's m ost ambitious climate t argets, Germany has pledged to reduce its carb on emissions by 40 perc ent by 2020 compared to t he 1990 level. In addition, the country decided to abandon nuclearp ower by 2022 and to r eplace it mainly by dou bling the share of renewa ble energies in its electrici ty production to 35 percent within ten years, and to 80 percent by 2050. PAGE 14, MONDAY, JULY 4, 2011 THE TRIBUNE GERMAN CHANCELLOR Angela Merkel speaks at t he Petersberg Climate Dial ogue in Berlin, Sunday. International delegations are gathered here on Sunday in Berlin for a two-day conference to prepare the upcoming UN climate conference in Durban. (AP GERMAN C HANCELLOR A NGELA MERKEL SPEAKS OUT
T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 15 THE DUKE AND THE DUCHESS of Cambridge wave as they visit Fort Levis in Levis, Quebec on Sunday. (AP QUEBEC CITY Associated Press P RINCE WILLIAM and Kate thrilled hundreds of adoring fans with an unscheduled walkabout Sunday in a city that was the site of the key British victory in the conquest of the French a historical event not forgotten by French-speaking separatists protesting nearby. The newlyweds were on the fourth day of a nine-day trip to Canada, part of their first o fficial overseas trip since their April 29 wedding. The visit hit a nerve among French-speaking separatists. Prince William and Kate hada private lunch at the Citadelle, a fortified residence where the British flag was raised at the end of the pivotal 1759 Battle of Quebec, when British forces defeated the French to seal the conquest of New France. T he royal couple encountered small but vocal protests for the second straight day during their visit to predominantly Frenchspeaking Quebec. The jeers contrasted with the start of their Canadian trip in the largely English-speaking capital, Ottawa, where they were cheered by tens of thousands of people on Friday's Canada Day holiday. Quebec separatists are angry that Canada still has ties to the monarchy. Queen Elizabeth II is still the country's head of state. Police were out in force in downtown Quebec City. About 200 protesters, some wearing black and waving flags, demonstrated about two blocks from City Hall, where Prince William, a Royal Air Force helicopter pilot, attended a ceremony to honour and inspect the Royal 22e Regiment, the most famous French-speaking unit in the Canadian military. A larger crowd of several hundred supporters, chanting "Will and Kate" were allowed closer to City Hall and greeted the royal motorcade with loud cheers when it arrived. After a military band played the first six bars of "God Save the Queen," Prince William made brief remarks entirely in French. "You, the Quebecois et Quebecoise, have such vitality and a remarkable pride. We are simply delighted to be here," he said. "Thank you for your patience with my accent, and I hope that we will have the chance to get to know each other over the years to come. Until the next time. See you soon."
$4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.35 $5.29 $5.27 T HETRIBUNE SECTIONB firstname.lastname@example.orgMONDAY, JULY 4, 2011 By NEIL HARTNELL Tribune Business Editor The Bahamas two leading communications industry players both oppose proposals to automatically presume that companies with between 25-75 per cent market share have Significant Market Pow er (SMP inconsistent with international precedents and calling for a 40 per cent threshold instead. Cable Bahamas and the newly-privatised Bahamas Telecommunications Company (BTC to the Utilities Regulation & Competition Authoritys (URCA methods to be used for assess ing SMP in the Bahamian communications industry, each said that to presume firms with between 25-75 per cent market share had SMP was inconsistent with the European Unions (EU tices. The SMP-related provisions BTC, CABLE BOTH OPPOSE 25-75% SHARE SMP PROPOSAL Rivals say that to presume Significant Market Power at this level inconsistent with g lobal best practices Call for 40% threshold used by EU instead SEE page 6B By NEIL HARTNELL Tribune Business Editor T he BISX-listed Bahamas Property Fund is assessing whether to make 10,000 square feet at its downtown Financial Centre prope rty available to retail tenants in a bid to combat a 20 per cent vacancy rate, its administrator adding there was a fairly good c hance dividend payments to shareholders might resume. Michael Anderson, RoyalFidelity Merchant Bank & Trusts president, told Tribune Business that given the relatively soft c ommercial real estate environment, and few new banks the Bahamas Financial Centres traditional client base coming on the scene, l easing some space at that property to retailers could both resolve existing vacancy issues Financial Centre targeting retail tenant offering M ICHAEL ANDERSON BISX-listed Property Fund eyeing 10,000 sq ft at flagship for retail, in bid to counter 20% vacancy* Good chance of dividend restart if two acquisitions do not happen* Q1 profits up 9.2%, despite highest vacancy rates since we started Fund SEE page 5B By NEIL HARTNELL T ribune Business Editor The Bahamas Chamber of C ommerce and Employers C onfederations (BCCEC newly-elected chairman has described as very concerning the impending m ark-up i ncreases f or petroleum retaile rs, warning that it would hitc onsumers and increase the cost of doing business. W hile expressing sympat hy for the plight of Bahamas Petroleum Retail ers Association (BPRA m embers, Winston Rolle indicated to Tribune Business that any increase in p ump gasoline prices could not be coming at a worse time, since it could further depress prospects for a B ahamian economic recov ery. Responding to this newsp apers Friday report on the Government agreeing to an increase in the per gallon gasoline and diesel mark-ups for petroleum retailers, Mr Rolle said this would only fur CHAMBER CHIEF: GAS MARK-UP INCREASE VERY CONCERNING SEE page 4B W INSTON ROLLE By NEIL HARTNELL Tribune Business Editor The Nassau Airport Development Companys (NAD est proposed fee increases have been slammed for putting more obstacles in the way of local airlines and national economic/tourism development, even though the airport operator says costs per passenger will be 6.9 per cent less than the Caribbean average. Captain Randy Butler, pres ident and chief executive of Sky Bahamas, said he and other Bahamian-owned carriers would likely have no choice but to increase passenger ticket prices to compensate for NADs fee increases, which range from 10 per cent landing fee rises to 3 per cent increases for terminal, parking and air craft loading bridge fees. These fee increases, which are scheduled to take effect from January 1, 2012, subject to approval, should come as no sur prise to any carriers operating from the Lynden Pindling International Airport (LPIA since NAD flagged up its intentions long ago. The increases are designed to generate revenue streams that will help NAD repay the debt taken on to finance LPIAs $409.5 million redevelopment, but Captain Butler said they were akin to tax rises, and would counter efforts to develop a domestic aviation industry and Family Island tourism. If the Government does not understand the importance of domestic aviation to the development of the Bahamas, the islands, the touristic product, and health, economic and social welfare needs of Bahamians, we will continue to see this happen, Captain Butler, who is the Democratic National Alliances (DNA North Andros, told Tribune Business. By charging more, we continue to put obstacles in the way. Again calling for a strategic plan to develop the aviation and tourism sectors, Captain Butler said the Gov ernments approach to the NAD fees was duplicitous, given the extensive lobbying it had carried out over the UKs Air Passenger Duty (APD plans a similar issue to that faced here in the Bahamas. In justifying the fee increases, which also include a $2 rise in the International Security fee, NAD compared its charges to those levied by other Caribbean airports in 2011, and their plans for 2012. Basing its benchmarking exercise on a Boeing 737-700, with 75 per cent load factor (102 passengers turnaround time, NAD said: Excluding governments tax es, LPIAs costs are currently $38.21 per passenger and, with the recommended increase, become $40.52 per passenger. The average cost of Caribbean airports presented in the graph, excluding LPIA, is $43.53 per passenger. LPIAs recommended rates are very competitive at $3.01 or 6.9 per cent less than the Caribbean average. NAD emphasised that among its financial covenants was a condition that it maintain a debt service coverage ratio (DSCR 1.3 to 1. The average DSCR for the period of 2012 to 2020 is currently projected at 1.53 to 1, consistent with an investment CAPT. RANDY BUTLER NAD FEE RISES OBSTACLES, YET 6.9% BELOW AVERAGE SEE page 4B By NEIL HARTNELL T ribune Business Editor The Bahamas Telecommunications C ompanys (BTC m ajority shareholder is aiming to get s upport function costs within 10 per cent of regional best practices, with this nation already generating the mostr evenue out of its 14 Caribbean territories. An investor presentation given to L ondon-based analysts on Friday by C able & Wireless Communications (CWC LIME, again revealed just how vital the BTC acquisition is to the compa n ys financial well-being going forward in the Caribbean, plus the importance of BTCs cellular monopoly. D rawing on Utilities Regulation & Competition Authority (URCA that described the Bahamian telecoms market as being worth a collective $460m illion in terms of total revenue, havi ng grown by 3 per cent in 2010, the LIME presentation showed that half this sum $230 million was generated by BTC from its cellular monopoly. T he majority of that latter figure, between 60-70 per cent, came from pre-paid cellular customers, with revenues from international roaminga greements surpassing what BTC earned from its post-paid customers. Indeed, cellular revenues also account ed for 67 per cent of BTCs total $343 m illion revenues during the 12 months to end-2010. Breaking down the rest of the B ahamian telecoms market, LIMEs p resentation showed that some $180 million or 39 per cent came from fixed v oice and Internet services. The for mer accounted for around 50 per cent of this, with Internet and data the remaining chunk. C WC/LIME acknowledged that the Bahamas was the only country in its Caribbean portfolio where it was not the market leader in Internet, holdinga 25-30 per cent market share behind Cable Bahamas. The final $50 million, LIME said, BTC support costs within 10% of best New majority owner lays out more targets, including employee engagement at 80 per cent Says voluntary separations on track to be executed on target and within budget $230m cellular monopoly generating half Bahamian mar ket revenues SEE page 3B The Government will use real estate transaction prices, as stated on conveyancing documents, to determine Stamp Duty due unless the value appears to be vastly out of sync with the prevailing market. Zhivargo Laing, minister of state for finance, gave the commitment at Fridays Bahamas Chamber of Com merce and Employers Confederations (BCCEC tains of Industry Awards, moving to ease concerns about the increasing use of real property tax valuations to determine Stamp Duty payable on real estate deals. GOVERNMENT REASSURES ON STAMP DUTY
BUSINESS PAGE 2B, MONDAY, JULY 4, 2011 THE TRIBUNE RoyalFidelity Market Wrap EQUITY MARKET TRADING STATISTICS Week ending 01.07.11 BISX SYMBOLCLOSING PRICEWKLY PRICE CHANGEVOLUMEYTD PRICE CHANGE AML$ 1.18$-021.65% BBL$ 0.18$-00.00% BOB$ 6.94$-041.63% BPF$ 10.63$-00.00% BSLN/A$-00.00% BWL$ 2.70$-00.00% CAB$ 8.48$-295-18.93% CBB$ 8.40$+0.0312,0000.00% CBL$ 6.88$-0-1.71% CHL$ 2.55$-06.25% CIB$ 8.60$-0-8.41% CWCB$ 1.90$+0.0701.60% DHS$ 1.38$-0-13.75% FAM$ 5.40$-0-11.04% FBB$ 1.77$-0-18.43% FCL$ 5.50$-4,0000.73% FCLB$ 1.00$-00.00% FIN$ 5.40$-1,580-25.31% ICD$ 7.30$-030.59% JSJ$ 9.82$-1000.00% PRE$ 10.00$-00.00% INTERNATIONAL STOCK MARKET INDEXES INDEX WKLY %CHGE DJIA 12,582.77 5.43 S&P 500 1,339.67 5.61 NASDAQ 2,816.03 6.15 NIKKEI 9,868.07 1.96 INTERNATIONAL MARKETS F OREX Rates Wkly %Chge Currency CAD1.0434 2.99 GBP1.6077 0.68 EUR1.4533 2.44 Commodities Wkly %Chge Commodity Crude Oil 111.50 5.62 Gold 1483.00 -2.10 THE BOND MARKET TRADING STATISTICS BISX SYMBOLDESCRIPTIONVOLUMEPAR VALUE FBB13FBB Series C0$1,000 Notes Due 2013 FBB15FBB Series D10$1,000 Notes Due 2015 FBB17FBB Series A0$1,000 N otes Due 2017 FBB22FBB Series B0$1,000 Notes Due 2022 By ROYALFIDELITY CAPITAL MARKETS It was a slow week of trading in the Bahamian stock market. Investors traded five out of the 24 listed securities, with one advancer. EQUITY MARKET A total of 17,975 shares changed hands, representing a decrease of 24,288 shares compared to the previous week's trading volume of 42,263. Commonwealth Brewery (CBB for the week, trading a volume of 12,000 shares to close at a new 52-week high of $8.40. Freeport Oil Holdings (FOCOL 4,000 shares, remaining unchanged at $5.50. Finance Corporation of the Bahamas (FIN ume of 1,580 shares, remaining unchanged at $5.40. Cable Bahamas (CAB ed a volume of 295 shares, remaining unchanged at $8.48. J.S. Johnson & Co (JSJ ed a volume of 100 shares, remaining unchanged at $9.82. BOND MARKET 10 FBB Series D Notes traded, representing a volume of $10,000. Earnings Releases: Bank of the Bahamas (BOB released its financial results for the period ending March 31, 2011. BOB reported a net income of $1.4 million, representing an increase of $230,000 or 19 per cent compared to $1.2 million in 2010. Net interest income stood at $9.2 million, up 6 per cent from $8.7 million for the same ninemonth period in 2010. Net income available to common shareholders stood at $759,000 compared to $529,000 in 2010. The net provision for loan losses increased by 33 per cent to $2.5 million from $1.9 million for the same nine-month period in 2010. Total assets and liabilities stood at $824 million and $706 million, respectively, as at March 31, 2011. Earnings per share declined to $0.01 versus $0.03 in 2010. FAMGUARD Corporation (FAM financial results for the three months ended March 31, 2011. FAM reported net income of $825,000 for the quarter, compared to $303,000 for the same period the prior year. Earnings per share rose to $0.08 from $0.03 in 2010. Total income stood at $27.6 million, representing an increase of $3.4 million or 14 per cent, while total benefits and expenses rose from $23.9 million in 2010 to $26.8 million, representing an increase of 12 per cent. Total assets and liabilities stood at $212 million and $151 million, respectively, compared to $209 million and $149 mil lion at year-end 2010. COMPANY NEWS Dividend Notes: Caribbean Crossing will redeem its Series B 7 per cent Preferred Shares, which matured on July 1, 2011, to shareholders of record date June 15, 2011. A GM Notices: Abaco Markets (AML announced its AGM will be held at the British Colonial Hilton Hotel on July 13, 2011, at 10am. Fidelity Bank (Bahamas (FBB will be held in the Victoria Room at the British Colonial Hilton Hotel on July 28, 2011, at 6pm.
BUSINESS T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 3B came from cable television (Cable Bahamas and other services. It described the strong penetration of fixed-line and cellular in the Bahamian market, noting that these products had reached 140 per cent of households, and 110p er cent of the population, respectively. By contrast, broadband I nternet services had reached 70 per cent ofB ahamian households, and cable TV 50 per cent of h ouseholds. T he LIME presentation a lso disclosed CWC goals for BTCs performance that have never been sharedp ublicly before. Apart from the $100 million in operating income (EBITDA e xpects BTC to generate in t he second year of its majority ownership, it is also aimi ng for employee engagement at 80 per cent. A part from BTC employe e competency being in top of region, LIME/CWC also w ants to get support funct ion costs within 10 per cent of regional best pract ice, with fault rates and b illing errors much reduced. C entral to LIME/CWCs strategy is achieving a 30 per cent headcount reduction atB TC, something it seems likely to have been successful at in a process that closed o n Friday. T he London presentation d isclosed more details on the voluntary separation package exercise, revealing t hat what it described as Tier 4 and 5 BTC employees who had accepted the offer would receive the companys response on July 15. As for Tier 1-3 employees,l ikely the upper and middle management, they would get BTCs response on July 29. VSep is on track to be executed on target and within budget, with no adversarial reputational impact, theL IME presentations headl ine blared to London-based analysts. Apart from headcount r eductions, the presentation a lso described CWCs first year goals for BTC as being n ew billing systems, cent ralised procurement, new p roducts and the launch of the 4G (fourth generation network and 8 Megabyte broadband Internet. When it came to the second year of CWC control, the goal appears to beB TCs full integration into L IMEs Caribbean regional model, particularly on network and IT systems. There a lso appears to be a desire t o shift certain functions out of the Bahamas, not surprising given the productivi ty/high wages issue in this n ation, and LIMEs centralising tendencies. The London presentation refers to transactional finance activities relocatedt o SSC, although it is unclear what SSC stands for. And, when it came to a country comparison, the Bahamas was by far and away the Caribbean nation that generated most revenue for LIME, based on its 2010f igures. E ven assuming that CWCs share of the $343 million is $174.8 million, give n its 51 per cent stake in B TC, the Bahamas would still be the third-leading terr itory in terms of revenue g eneration, behind only J amaica and Barbados, although barely when it came to the latter. Using BTCs $343 million revenues and $79 million EBITDA that it generated in 2010, it accounts for 28.6 p er cent of LIMEs total $ 1.2 billion revenues and 25.6 per cent of its EBITDA operating income. FROM page 1B BTC support costs within 10% of best VSep is on track to be executed on target and within budget, with no adversarial reputational impact.
grade rating, the LPIA operator added. F urther fee increases, it said, were planned for 2013, followed by aeronautical fee rises linked to inflation measured via the Consumer Price Index (CPI contained within the financial model are necessary for the Nassau Airport Development C ompany to meet its operational needs and the financial covenants of the Phase II financing, NAD added. Captain Butler, though, said NADs benchmarking was based only on international carriers, and did not account for the domestic market. Passeng ers transiting LPIA en route to the Family Islands, he said, effectively had to pay twice or double both coming in and going out, a total of four times in all. Suggesting that NADs priority was its financing and the airport redevelopment, with the aviation and tourism sectors wider needs low down the list, Captain Butler said: The Minister of Aviation should be taking consultations and talking with the industry, understanding the challenges Family Island hotels, the touristic people on these islands, are having. Asked about the overall impact the fee increases were likely to have on his business and other Bahamian-owned carriers, Captain Butler said: It is going to impact us again, and impact us in a way that were competing against carriers like Bahamasair, which do not have to go up in price because they get financial subsidies from the Government. Theyre able to bear payables for a longer period than I am. What you will see is that the stronger ones will survive for longer, and the weaker ones will fold up. The Government needs to pay attention to local businesses that employ hundreds of people. I will have to go up on my prices. Well have to look at the fees and increase where necessary. Captain Butler suggested that, like a fuel surcharge, he would include the various NAD fees separate from the actual ticket price, so travellers would recognise the amount they were paying in fees and taxes. t her increase business and consumer costs at a time the summer when global oil prices traditionally peaked, compounding the effects. Thats very concerning, Mr Rolle said of the Governments decision. While I understand the plight of the operators and their profit margins, you can appreciate the impact that is going to have on the cost of doing business. With gasoline prices increasing, costs are going to go much higher. Apart from Bahamian consumers, who will feel the impact in their bank balances and disposable income levels, others likely to be heavily impacted are transportationdependent businesses such as taxi drivers, jitneys, tour operators and all companies that rely on making daily deliveries such as wholesalers. What most persons had h oped, and I guess the Petroleum Retailers Association had hoped, was that the Gove rnment would relax some of t heir tax take and give them t he spread they need, Mr Rolle added, but not impact the overall cost to the consumer. E arl Deveaux, minister of the environment, on Thursd ay last week indicated that t he Government had agreed t o lobbying by the BPRA and Marina Operators of theB ahamas (MoB i ncrease in the fixed margins they can charge per gallon of g as and diesel sold. No details were provided, but there were indications the increase would take effect w ithin the next month. The change is also likely to see an increase in the existing mar-g ins, which are $0.44 per gall on of gasoline and $0.19 per gallon of diesel, rather than a percentage increase that the BPRA and MoB had pushed for. Whether the increases are o f the amount sought by the BPRA is also unclear. Another unknown is whether the w holesale margin enjoyed by the oil companies, FOCOL, Esso and Texaco, which are currently pegged at $0.33 per gallon will also be increased. Noting that we havent really hit the summer months yet, a time when global oil prices traditionally peaked, M r Rolle added: Its very concerning because youre going to have an increase through the adjustment made by the Government and, on top of that, in the coming months well see anotheri ncrease based on the cost of o il worldwide. Were very sympathetic and do not want to put anyones business in jeopardy, but the hope would have been t hat the retailers and government worked out some mid-d le of the road, where no one t akes a substantial loss. Right now, all of this is going to fall o n the consumer. Given that almost twothirds of Bahamian economic activity stems from consumer s pending, that is worrying in a nd of itself. One business executive, speaking to Tribune Business on condition of anonymity, agreed with Mr Rolle that the move would increase the c ost of living to the consumer, describing it as just another band aid approach. Ultimately, the source said, without fixing the existing pricing structure this situation would eventually arise again, with BPRA members clamouring for further margin increases further down the l ine. Gas margins were last increased under the first FNM government, the source said, yet almost 10 years later the Bahamas was here again, and w ith the same arguments b eing made. Gas prices were already extremely high, and the Governments decision meant t hey were likely to go higher on the grounds that dealers needed more money. You have to go back and look at this system that doesnt make sense at all, the source said. If you dont solve the problem correctly, in a couple of years youre going to do the same thing. The solution, the source s aid, was for the Government to reduce its $1.06 per gallon tax, plus 7 per cent Stamp D uty on the cost of landed f uel, something it is unlikely t o do when desperate for e very cent of revenue. The o ther issue, they added, was t he rents, royalties and franchise fees levied on the BPRA and its members by t he oil companies. The source identified these and the Gove rnment taxes as the major problem, together with an over-supply of service stations. When you look at the amount of service stations per s quare mile in Nassau, youve got more than in Florida. Somethings got to be fundamentally wrong there, the source said, suggesting there needed to be consolidation. For an island 21x7, we should not have so many ser vice stations in close proximi ty. Thats the only way to begin to drive costs down for Bahamian consumers. Rick Lowe, a leading executive with the Nassau Insti tute economic think-tank, told Tribune Business the episode showed price controls cert ainly belong in the dustbin of history. The market is the m arket, and you can restrict i t, manipulate it and put peo ple out of business, but soon e r or later reality has to come. BUSINESS PAGE 4B, MONDAY, JULY 4, 2011 THE TRIBUNE GN-1253T r easur y Depar tment G N-1256 FROM page 1B Chamber chief: Gas mark-up i ncrease very concerning FROM page 1B N AD FEE RISES OBSTACLES, Y ET 6.9% BELOW AVERAGE
and fit in with the Funds d iversification strategy. Weve got some of our tenants consolidating space, and as they reconfigure their o wn space and move upstairs, its freeing up space on the ground floor, Mr Anderson said of the Bahamas Financial Centre. Historically, thats been u sed as office space, but now were looking at the retail market. As that frees up, Ib elieve we will look at putting some downtown space on the retail market. W hen asked by Tribune Business how much space on the Bahamas Financial Centres ground floor was likely to be allocated for retail usage, Mr Anderson replied: Id expect about half andh alf 10,000 square feet of office space, and 10,000 square feet of space well lookat reconfiguring and making available for retail space. Theres not many new people coming to market, not m any new banks coming to set up here. Things change,a nd we have expectations t hey will, but at the moment its difficult to locate these p eople. Vacancy rates were about 20 per cent at the Bahamas F inancial Centre, the 100,000 square foot property that is very much the Bahamas Property Funds flagship. The BISX-listed real estate invest-m ent trust also owns One Marina Drive on ParadiseI sland, and Providence House o n East Hill Street, the home o f PricewaterhouseCoopers (PwC For the 2011 first quarter, the Funds net income rose b y 9.2 per cent to $467,726, compared to $428,142 in the same period last year. Its performance was aided by the fact that year-over-year com p aratives, for the first time, w ere up against periods fea turing the same vacancy ratesa nd share of common area maintenance (CAM e s. I thin wed already seen the bad news by the same stage last year, so already the maintenance expenses and increased vacancy rates were there by that stage, Mr A nderson told Tribune Business. Things have not c hanged materially since that stage. Absent any kind of leas ing activity or major tenants leaving, we expect things to be much the same. R ental income for the three months to end-March 2011 r ose by 1.7 per cent to $1.025 million, compared to $1.007 million the year before, and M r Anderson expressed hope that the Bahamas Property Funds top-line might increase if negotiations with several potential tenants were successfully concluded. We are still actively in the process of finalising rentala rrangements for some of the space, so expect to see some increase in rental income, at least for the Financial Cen tre, before year-end, he added. Its not like theres dozens of people out there l ooking for commercial space. Theres a glut of commercial space still in the market, andu ntil we see an improvement i n the economy its not like it will be taken up at a rapid rate. While conceding that the Bahamas Property Fund was up against the highest vacan-c y rates it had experienced since being founded in 1999, Mr Anderson said its finan-c ial performance was still credible, noting that funds from operations (FFO f rom $0.19 the year before to $ 0.21 per share in the 2011 first quarter. He added that the Bahamas Property Fund was still attempting to move forward on ambitions to grow to a diversified eight-nine strong property portfolio, worth around $100 million, and was c urrently assessing two potent ial acquisition targets. If a deal was not forthcoming, Mr Anderson said theg rowing cash pile on the B ahamas Property Funds b alance sheet was likely to be r eturned to shareholders via the resumption of dividend payments. At the end of the d ay, were producing credible r esults with what have been t he highest vacancy rates since we started the Fund, Mr A nderson told Tribune Business. That [the Financial Centre] is our major property,a nd with historically high v acancy rates the net profit numbers are very good. He described the Funds situ ation as a bottom position which we will actually move forward from, and said howq uickly things improved d epended on the speed at which the vacant Bahamas Financial Centre space was taken. If this is a bottom position, and were generating $0.21p er share in FFO, shareholders should feel positive that as the economy moves, wew ill pick this up quite significantly, Mr Anderson said. Property holding compan ies like this are generally valu ed on FFO, rather than earnings per share, and we have fairly good cash flows and 80 per cent occupancy at the Financial Centre, so theres good upside to that. Its a fairly good amount were generating per share. Absent buildings to purc hase, theres a fairly good c hance well resume dividends because weve got a large cash surplus building up. If wec ant tie them down, the B oard will say we cant use t he funds for acquisitions, in w hich case well return them as dividends to the shareholders. I n terms of the two potent ial acquisition targets, deals a re some way off. Were currently looking at whether w ere going to bid, and whether we can find a reasonable price range at whicht he sellers will do business, M r Anderson said. Its not always easy, as people with good properties w ith good locations want to keep them. A lot of people with comm ercial properties have v acancies, so a lot of properties arent being sold because they dont have enough tena nts. I dont know what the vacancy rate is, but its likely to be relatively high. TheB ahamas Property Funds E PS for the 2011 first quarter was $0.19, slightly higher than the $0.18 from the same p eriod in 2010. Operating expenses were down slightly at $534,226,c ompared to $556,091 the prev ious year. BUSINESS T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 5B FROM page 1B Financial Centre targeting retail tenant offering
of the Bahamas Communications Act 2009 are largely based on the EUs electronic communications sector directives, and both Cable Bahamas and BTC agreed that licencees with a market share of less than 25 per cent should be presumed as non-SMP. However, both oppose URCAs initial proposal that communications licencees with a market share of between 2575 per cent should be presumed to have SMP, and also had some difficulties with the regulators position that firms with 75 per cent or more market share would be automatically determined to have SMP power. While acknowledging that market share was important in assessing a particular firms market power, Cable Bahamas outlined two major concerns with URCAs methodology, adding: An arbitrary, static market share should never be considered as a sole criterion sufficient to determine whether a market player has SMP. The BISX-listed communications provider said market share trends over time should instead be monitored, for if a particular firms share declined, it might indicate increasing competition. And if their market share fluctuated and proved highly volatile, this could indicate the company did not have SMP. Clarify Cable Bahamas also urged URCA to clarify that market share, on its own, could not lead to an SMP designation, as to do otherwise was contrary to international best practice. More specifically, Cable Bahamas agrees with the proposition that there should be no presumption of SMP for a market share below 25 per cent, the BISX-listed firm said. However, when considering a market share above 25 per cent, a presumption of domin ance in unreasonable and, indeed, a presumption of dominance below a market share of 40 per cent is not consistent with international precedents. Noting that this was supported by the European Com m ission in the EUs SMP guidelines, Cable Bahamas added: It is also unjustified to impose what appears to be a conclusive determination of SMP above a 75 per cent threshold, as URCA appears to propose. High market share alone is not considered sufficient to establish dominance in SMP. Thus, although a presumption of SMP may apply in the case of very high market shares, the presumption should not be conclusive or irrefutable. This is consistent with international precedents, in which there have been findings of non-dominance notwithstanding very high market shares (i.e. above 75 per cent). As a result, Cable Bahamas concluded that presumptions of market dominance (SMP should only apply to firms with a 40 per cent market share or greater, and that market share should not be the sole criterion for determining SMP. And, for once, Cable Bahamas found itself in agreement with BTC, with which it is currently engaged in some relatively acrimonious interconnection negotiations vital to facilitate its entry into, and providing competition in, the fixedline voice services market. In its response to URCA, BTC said the difference between a presumption and determination was unclear, but appeared to boil down to the same outcome an SMP designation if a firms market share was 25 per cent or greater. This figure is too low, and contrasts with the European Union position that a 40 per cent market share leads to a presumption of SMP, BTC said. For electronic communications markets in the Bahamas, BTC considers that URCA is correct to propose a higher figure than in the EU to reflect the smaller number of players likely in the smaller market. As a result, BTC proposed that communications firms with less than a 25 per cent market share in any particular product/business stream be presumes to have no SMP power. But, for those with 75 per cent market share or greater, SMP should be presumed. And, for companies with between 25-75 per cent market share, SMP should be determined using a variety of criteria, BTC said. It added: The market share thresholds proposed by URCA, where a market share over 75 per cent triggers a presumption of SMP, was in agreement with that of BTC. Given that in the Bahamas compared to the EU there are fewer players in a much smaller market, the higher threshold would reflect these circumstances. SMP is an important issue for both BTC and Cable Bahamas. During the transition to the Communications Act, BTC was found to have SMP in both the fixed-line and cellular markets, while Cable was dominant in cable TV and broadband Internet. This resulted in the two companies having to comply with, and fulfill, numerous obligations imposed on them by URCA to remedy the potential market/competition disruption their SMP status might cause. Cable Bahamas effectively urged URCA to revisit the assumptions made during the Act transition, and evaluate whether sub-markets determined to be SMP really were so. Following international best practice in this regard will be critical to the establishment of a fair, transparent and appropriate regulatory environment in the Bahamas, the BISX-listed company wrote. It described the transition measures as involving an unprecedented de jure presumption of dominance by Cable Bahamas and BTC that could not be rebutted, and which led to the unnecessary imposition of upfront measures. URCA now has the duty to move away from any statutory presumption of dominance, Cable Bahamas added. BTC, for its part, urged URCA to publish a timetable or commitment to carry out its market analysis or review, adding that this would provide empirical evidence to revisit previously-made SMP designations and remedies imposed on various carriers. BUSINESS PAGE 6B, MONDAY, JULY 4, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.95AML Foods Limited1.181.180.000.1550.0807.66.78% 1 0.639.05Bahamas Property Fund10.6310.630.00-0.6400.200-16.6 1.88% 7 .504.40Bank of Bahamas6.946.940.000.2130.10032.61.44% 0.530.17Benchmark0.180.180.00-0.0480.000N/M0.00% 2 .842.70Bahamas Waste2.702.700.000.0300.09090.03.33% 1.961.77Fidelity Bank1.771.770.000.0970.04018.22.26% 11.938.44Cable Bahamas8.488.480.001.0580.3108.03.66% 2.852.35Colina Holdings2.552.550.000.4380.0405.81.57% 8.008.33Commonwealth Brewery8.408.400.000.7400.00011.40.00% 7.006.00Commonwealth Bank (S1)6.886.880.000.4960.26013.93.78% 2.191.90Consolidated Water BDRs1.851.900.050.1110.04517.12.37% 2.541.31Doctor's Hospital1.381.380.000.0740.11018.67.97% 5.994.75Famguard5.405.400.000.0830.24065.14.44% 8.805.40Finco5.405.400.000.7570.0007.10.00% 9.858.25FirstCaribbean Bank8.608.600.000.4940.35017.44.07% 6.004.57Focol (S)5.505.500.000.4350.16012.62.91% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.305.50ICD Utilities7.307.300.00-0.1220.240-59.8 3.29% 10.809.80J. S. Johnson9.829.820.000.8800.64011.26.52% 1 0.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00BISX LISTED & TRADED SECURITIES AS OF:7% Interest 7% RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029FRIDAY, 1 JULY 2011B ISX ALL SHARE INDEX: CLOSE 1,410.62 | CHG 0.04 | %CHG 0.00 | YTD -88.89 | YTD % -5.93BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017FINDEX: YEAR END 2008 -12.31%30 May 2013 52wk-Hi52wk-LowSymbolBid $ A sk $Last PriceDaily Vol.EPS $Div $P/EYield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.650.750.400.0290.00024.130.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.55731.4674CFAL Bond Fund1.55732.04%6.13%1.535365 3.01852.9020CFAL MSI Preferred Fund3.01852.41%4.01%2.952663 1.59761.5289CFAL Money Market Fund1.59761.50%4.50%1.580804 3.20252.6384Royal Fidelity Bahamas G & I Fund2.5997-4.43%-16.29% 13.638813.0484Royal Fidelity Prime Income Fund13.50161.08%0.02% 116.5808103.9837CFAL Global Bond Fund116.58080.71%8.38%115.762221 114.1289101.7254CFAL Global Equity Fund114.12892.39%7.89%111.469744 1.16081.0000FG Financial Preferred Income Fund1.16551.66%5.19% 1.12141.0000FG Financial Growth Fund1.12640.71%6.11% 1.16201.0000FG Financial Diversified Fund1.16681.54%5.59% 9.99529.5078Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.94330.98%4.58% 11.217310.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 211.28102.07%9.80% 10.42889.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.40873.83%11.49% 8.45104.8105Royal Fidelity Int'l Fund Equities Sub Fund8.78964.66%16.69% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-May-11BISX Listed Mutual FundsNAV Date 31-May-11 30-Apr-11 31-Mar-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Apr-11 31-Mar-11 30-Apr-11 29-Apr-11 31-May-11MARKET TERMS30-Apr-11 NAV 6MTH 1.512246 2.907492 1.561030 114.368369 106.552835 31-Mar-11 30-Apr-11 31-May-11 30-Apr-11 FROM page 1B BTC, Cable both oppose 25-75 per cent share SMP proposal
BUSINESS T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 7B ABOUT URCA: The Utilities Regulation and Competition Authority (URCA the converged regulator for Electronic Communications Services (ECS) (covering broadcasting, radio spectrum and electronic communications) in the Commonwealth of The Baham as. 85&$LVVHHNLQJWRHPSOR\VXLWDEO\TXDOLHGLQGLYLGXDOWR WKHSRVWRI&KLHI([HFXWLYH2IFHU7KLVSRVLWLRQZLOOEHEDVHGLQ Nassau, The Bahamas and will report to the Board of URCA. CORE DUTIES: T he successful candidate will be required to: L ead and promote the development of URCA as set out in the URCA and Communications Acts Take total ownership and overall responsibility for leading U RCA through post liberalisation reform, policy development, priority mapping and stakeholder management. O wnership includes, but is not limited to, leadership and human capital development, prioritizing of strategic initiat ives and use of scarce resources, monitoring, implementation and reporting same to the Board /HDGWKHVWUDWHJLFSODQQLQJDQGUHODWHGVFDOREMHFWLYH setting for URCA in accordance with the Boards policies and consistent with its statutory obligations Lead the implementation of policy determined by the Board Ensure that URCAs capacity to absorb organizational change is properly assessed and managed through the normal organizational structures and management and identify support where required Ensure timely and appropriate transfer of responsibility from consultants and other advisors to the organization Attract, excite and retain colleagues within URCA toward W KHDWWDLQPHQWRIVWUDWHJLFREMHFWLYHV QUALIFICATIONS & EXPERIENCE: Candidates must: hold a university degree, preferably at the post graduate level in the area of law, economics, engineering, accounting or business management or a professional designation that is equivalent, to be able to meet the intellectual dePDQGVRIWKHMREDQGRUHTXLYDOHQWH[SHULHQFH have workedin, consulted in or regulated in comparative sectors for over ten years and ideally have both regulatory and industry experience have proven experience in areas of regulation, i.e. communications, broadcasting, electricity, or water at a senior level in a leadership role h ave proven experience in managing post liberalization regulatory issues Five to seven years experience working at senior/ executive OHYHOLQRWKHMXULVGLFWLRQVLQWKHUHJXODWRU\RULQGXVWU\HQYLURQ ment will be an asset COMPETENCIES & OTHER KEY REQUIREMENTS: Demonstrable track record of successful delivery of organizational transformation and change management on a QXPEHURIYHU\ODUJHVFDOHKLJKSUVWUDWHJLFFKDQJH SURMHFWVRUSURJUDPPHVSHFLFWRSRVWOLEHUDOL]HGPDU ket Ability to motivate and manage internal and external stakeholders Must have a high degree of organizational awareness and political sensitivity Strategic outlook and capable of conceptual thinking and decisive decision making Ability to absorb new facts, data and information rapidly Demonstrable sensitivity to balancing stakeholder interests as well as the regulatory imperatives of transparency, consistency and fairness Capable of modifying strong views in the face of new inIRUPDWLRQPDUNHWUHDOLWLHVDQGFRPSHOOLQJDQGLV humble enough to ask questions to ensure an understanding of the situation Strong bias for action and capable of translating the strategic agenda into actionable, quantitative plans, convey a sense of urgency and drive to closure &DSDEOHRIPDQDJLQJSURMHFWVIURPLQFHSWLRQZLWKLQWLPH frames and approved budgets. Good communication and inter-personal skills,and the right attitude to drive a high performance team Demonstrable track record of managing relationships with the media REMUNERATION & BENEFITS: URCA is a performance driven organisation and offers a comSHWLWLYHDQGDWWUDFWLYHUHPXQHUDWLRQDQGEHQHWSDFNDJHDV well as opportunities for career enrichment. Further information about URCA can be obtained from the website: www. urcabahamas.bs CONTACT: Interested applicants should email their resume to email@example.com.Applications should be received on or before July 15, 2011. Only candidates with the credentials and experience required for the role will be contacted. Thank you for your interest. Executive SearchCHIEF EXECUTIVE OFFICER U TILITIES REGULATION AND COMPETITION AUTHORITY (URCA Bahamas promoted in South Carolina ( Photo courtesy of Kenyon Missick) P ROMOTINGTHENATION: T he Bahamas Atlanta-based consul general, Katherine B. Smith, recently organised a lunch and seminar to promote this nation as "still the best place in the region to do business". P ictured in front of one of the event billboards are (L to R m ercial business manager for the Freeport Container Port, James Turner; Consul General, Katherine B. S mith; Attorney General for the Bahamas, John Delaney; executive director of the Midland Trade Assoc iation, Fred Monk; and group sales manager for the Our Lucaya Beach & Golf Resort, Carmel Churchill. ( Photo courtesy of Kenyon Missick) SEMINAR: More than 70 South Carolina businessmen and women attended the seminar on Doing Busi ness in the Bahamas which was held at the Marriott hotel in downtown Columbia, South Carolina. GUESTSPEAKER: Attorney General John Delaney was the guest speaker. During his keynote address he said: "South Carolina and the Bahamas share much in common: Our colonial histo ry, our respective common law legal systems, architecture, culture and, if I might add, some specialty foods." The Attorney General also focused his remarks on recent legislation in the Bahamas regarding the ease with which investors can do business. (Photo courtesy of Kenyon Missick) Share your news The T ribune wants to hear fr om people who are making news in their neighbourhoods. Per haps you ar e raising funds for a good cause, campaigning for impr ovements in the ar ea or have won an awar d. If so, call us on 322-1986 and share your stor y
Higgs & Johnson was a coffee break sponsor at the 2011 STEP Caribbean Conf erence held in Bermuda. Under the theme, IFCs Key Partners in Economic Growth the conference considered the various issues regarding contributions m ade by international financ ial centres to the global e conomy. Dialogue The conference discussed the latest in professional d evelopment and learning, w hile creating an opportun ity for discussion, dialogue a nd networking for trust p ractitioners. H eather L. Thompson, a Bahamian partner, was invited to be one of the par-t icipants in the breakout session, Question Time: Ask the Experts She was available to answer questions about issues of trust law and practice in the Bahamas. S he said: It was a good opportunity to represent the Bahamas on the panel, as it increases the presence and recognition of the jurisdiction with regards to wealth m anagement. A ssociates Jillian ChaseJ ones (Ocean Centre office and Tom Mylott (Cayman office) attended the conference, and had responsibility for the Higgs & Johnson booth. Both are members of the firms private client and wealth management prac-t ice group specialising in trusts and estates. The STEP Caribbean Conference continued to a ttract world class speakers, w ho provide information and indicators of the latest i n industry trends. BUSINESS PAGE 8B, MONDAY, JULY 4, 2011 THE TRIBUNE /28,=(1253,(55(RI3 1$66$8%$+$0$6 Bahamas law firm sponsors conference Freeports Our Lucaya Beach and Golf Resort has appointed Benjamin Davis as its new general manager. Mr Davis has more than 35 years of managerial and hospitality industry experience, and will oversee the resort's 6 00-plus employees and assume responsibility for 540room propertys daily operations. Mr Davis, who was most recently vice-president and chief operating officer for the Myers Group of Companies, served as Our Lucayas resort manager when the p roperty was initially opened in 1999. During his career, Mr Davis has held a number of hotel managerial positions throughout the Caribbean and Europe. For the past 12 years, he has managed a number of Bahamian properties, including Bimini Bay Resort and Marina and the Radisson Cable Beach and Golf Resort. OUR LUCAYA NAMES GENERAL MANAGER E XPERTADVICE: Heather Thompson (c Ocean Centre office sits with other pane lists for the Ask the Experts session. READYTOASSIST: Associates Tom Mylott (Cayman office) and Jillian Chase-Jones (Ocean Centre o ffice) man the H&J booth.
ticular class and hue, find themselves down-pressedby an unjust and i nequitable system that pass ively addresses the e xploits of white-collar criminals. Public officials should err on the side of transparency, not obscurity when it comes to public affairs. Unfortunately, they s ometimes believe they are a bove reproach, therefore t hey do not care what information is out there and they do not care what impression the public forms. I am not suggestingt hat is Mr Mortimers view, but only that it is an unfortunate reality with which we are faced. Many times public officials are emboldened byt he knowledge that the system rarely holds anyone accountable for their actions. Public servants i nvolved in questionable dealings are sometimes promoted and most often retired with pensions. It is alleged that the Ministry of Education is notorious for this type of behaviour, and the 50,000 students in the p ublic school system are the victims, as is the wider society. In the case of the $3 million bond, one source suggested that desperate times c alled for desperate meas ures. The source believes n o conflict exists because no one wanted to buy the bonds; the interest rate had nothing to do with the E LA board and the priv ate issuance was not out o f the ordinary. Howard Bastian, former chief administrative officer( CAO), said the ELA a pproached private companies to purchase bonds in 2003, when the new administration of the day was faced with its own crisis. Timeline When we got there in 2 003, we needed the money right away and we did not have sufficient time to go out to the public. We did make calls to several companies to see if they were interested. We did that because of the timeline. We had six weeks to raise the money; based upon that we called private companies. Afterwards we basicallyc ontinued with those companies if I remember correctly, said Mr Bastian. F amily Guardian and NIB were among the original investors. In 2008, it was these same saviours that helped to bail out the ELA. The public, or at the very least Tribune readers, w ill determine if these explanations sit well with their spirit. For now the ELA is done talking, but this certainly is not the end of the story. The ELA and t he governments guarant eed student loan scheme i s in a state of disarray, and there is no clear indication that it is getting better. The state of affairs is p artly because of the s hameful behaviour of t hose who borrowed money with no attempt or intention to repay, but alsob ecause of how badly the programme was structured administratively, and how badly it has been managed. I t is ridiculous that the government and the oppo sition bicker in parliamento ver who terminated the s cholarship programme. W hat they both need to be doing is chastising theB ahamian people for causi ng the programme to collapse because of their outright attempts to defraud the system. They need to be cleaning up shop at the ELA, and stop hiding behind this excuse that the a udit is incomplete. I have n ot heard a reasonable explanation for why there is n o financial officer, and I d o not believe there is one. T he auditor general needs to make some difficult decisions, because if the audit is being stalled because of a lack of cooperation, as some sourcesc laim, he needs to take action to deal with the f orces that are seeking to frustrate the process. In the grand scheme of things, it is clear that the tripartite arrangement between the Loans Division in the Ministry of Education, the ELA and its a gent the Bank of the Bahamas (BOB failed. Two thirds of the debt managed by the trio is in default. Every year, the government is shelling o ut millions and millions to s ettle with the BOB, and T ribune sources claim, no one is keeping proper records. For over three years, the E LA has not had a financ ial officer. Depending on w ho you speak with there is a different reason why. As a member of the public, I c ertainly want to know, who exactly is accounting for the thousands of student loans that are eating u p the publics $100 million? Mandate T he ELA has not had a published audit since 2008, a ccording to Tribune sources; this, despite a statutory mandate for an a nnual audit. The completed audit of 2007 was qualif ied by PricewaterhouseCoopers; this, despite the fact, according to sources,t hat the body was able to produce unqualified audits b etween 2003 and 2006 by Ernst & Young. H ubert Chipman, deputy chairman of the authority, said there are a number of r easons why there have not been any completed audits,b ut he did not want to get i nto. Well, one source claims the reason is because o f the Bank of the Bahamas. The BOB has to produce information in a certain format for the auditors. That has not happened. The BOB will tell you that in their opinion this prog ramme is not worth the hassle they have. That is the difficulty. We have been struggling along, said the source. No BOB representative was available for c omment on this assertion u p to press time. S o what about the ELA and the loans division: Shouldnt they have their own records? O ne source said: If the E LA tried to do that it w ould be bankrupt. The ELA is like a bank, but they are doing it on thec heap. So they pay the Bank of the Bahamas to be the agent and administer the loans. You know what i t is to put in banking software to track $100 million in loans. W hat a mess is all I can s ay. The ELA investigation h as led me to believe the government needs to com-p letely rationalise the struct ure of the loan programme. All efforts need to go into ensuring the ELA audit is completed and the results published. The government needs to disclose t he true state of affairs, b ecause there is obviously a lot more to the story and t hat is that students not r epaying. E veryone who received a student loan and did not, or is not repaying, needs to hang their head in shame and be brought before the courts, including somes enior government officials, who sources claim, are among that number. Given all that the ELA h as to wrestle with, I can u nderstand how an ELA official might be annoyed by our investigation into a$ 3 million bond, or whether an official was paid a $10,000 per diem, or who catered the Christmas par t y. There is a bigger more fundamental problem. They are struggling, trying to find out how to protect the public's money. Two thirds of the portfolio is in default. That is moneyg one. You think they are concerned about where the sandwiches are coming from, the source commented. Clearly, if I were tasked with the responsibility of managing the ELA, I might share that sentiment. But I am not. I am tasked with the responsibility of defending the publics right to know, particularly when it comes to matters of the public purse, and holding people accountable. Having been informed of the various claims presented by sources there was no option other than to investigate. Whatever information I was able to relay, presuming that it is fair and accurate, is for the public to consume and choose what impression to walk away with, and then decide whether or not to take action. INSIGHT PAGE 10B, MONDAY, JULY 4, 2011 THE TRIBUNE FROM page 12B Pulling teeth from public officials Share your news The T ribune wants to hear from people who are making news in their neighbour hoods. Per haps you ar e raising funds for a good cause, campaigning for impr ovements in the area or have won an awar d. If so, call us on 322-1986 and shar e your stor y M M a a n n y y t t i i m m e e s s p p u u b b l l i i c c o o f f f f i i c c i i a a l l s s a a r r e e e e m m b b o o l l d d e e n n e e d d b b y y t t h h e e k k n n o o w w l l e e d d g g e e t t h h a a t t t t h h e e s s y y s s t t e e m m r r a a r r e e l l y y h h o o l l d d s s a a n n y y o o n n e e a a c c c c o o u u n n t t a a b b l l e e f f o o r r t t h h e e i i r r a a c c t t i i o o n n s s . P P u u b b l l i i c c s s e e r r v v a a n n t t s s i i n n v v o o l l v v e e d d i i n n q q u u e e s s t t i i o o n n a a b b l l e e d d e e a a l l i i n n g g s s a a r r e e s s o o m m e e t t i i m m e e s s p p r r o o m m o o t t e e d d a a n n d d m m o o s s t t o o f f t t e e n n r r e e t t i i r r e e d d w w i i t t h h p p e e n n s s i i o o n n s s .
INSIGHT T HE TRIBUNE MONDAY, JULY 4, 2011, PAGE 11B CARACAS, Venezuela Associated Press OPPONENTSof V enezuelan President Hugo C havez face a new political playing field filled with potential pitfalls now that their nemesis has announced he is being treated for cancer. V enezuela's loosely knit coalition of opposition factions insists it is sticking with p lans to stand behind a single c andidate in next year's presi dential election, yet the only g lue that has held them t ogether for years has been a nimosity toward Chavez. If cancer were to force Chavez from the race, longstanding divisions could widen, hurting the opposition's chances for victory. Risks The situation poses a s evere test for the opposition. T hey may sense an opportun ity but there are risks of f racturing," said Michael S hifter, president of the InterAmerican Dialogue in Washington. "Some figures might convince themselves that remaining united is not necessary, and they can afford to stake out different posit ions." "Any infighting could be very debilitating," he added. Most opposition politicians r eject the slightest suggestion t hat the anti-Chavez movement could split if the presi dent were to stop playing an a ctive role in politics. Several months before Chavez became ill, the diverse col lection of opposition parties s aid it will hold a president ial primary in February to select a single presidential candidate. But under these new cir cumstances, some of the pres ident's rivals may be "thinking that the barrier to partic-i pating in the elections is low ered," said Carlos Blanco, professor of Latin American affairs at Boston University. That can create a situation in which more candi dates would like to run for the primaries," thereby splintering the opposition, Blanco said. S ome of Chavez's advers aries acknowledge that personal ambitions might get in the way. "Anything is possible within the opposition," said Oswaldo Alvarez Paz, one of several presidential hopefuls. We must all relinquish any t ype of personal ambition, of p arty interests and follow the path that has been followeds o far: the path toward the p rimary," he said. Opposition congressman Edgar Zambrano raised concerns that some Chavez opponents have begun maneuvering to advance their own political aspirations, t hereby undermining the c oalition's efforts to maintain u nity. W ithout singling out spec ific politicians, Zambrano s aid some government advers aries are "creating conflicts a nd contempt for the coalition." S ome Chavez opponents h ave suggested the opposition primary should be held earlier, preferably in Decem ber, for the coalition to adapt to changing circumstances driven by Chavez's illness and give the winner more time to m ount a more effective camp aign. "We cannot rule out c hanging our agenda if that's w hat the circumstances call for," said Caracas mayor Antonio Ledezma, who plans to run in the primary. F or the moment, the oppo sition is standing firmly united on one thing, at least: itsc riticism of how Chavez's government has handled his illness. They claim officials have been far too secretivea nd that Vice President Elias J aua should officially take over the president's duties until he returns from Cuba, where he is recovering after surgery to remove a cancer ous tumor from his pelvis. But Jaua said that wouldn't h appen; that the president is perfectly capable of running the country from Cuba. Chavez is in the process of "getting better to keep on leading us," Jaua said. During a televised inter view broadcast on Saturday, Foreign Minister Nicolas Maduro said that Venezuelan and Cuban doctorsr emoved a cancerous tumor from Chavez's pelvic region and conducted tests that showed the president's vital o rgans are healthy. "They were able to completely remove the tumor,"M aduro said. "They exam ined all of his organs and they are in perfect condition." Venezuela's state-run A VN news agency released photographs of Chavez that showed the president walk i ng together with Maduro and two of his daughters, Rosa Virginia and Maria Gabriela. C havez, who wore a sport jacket and sneakers, appeared pale and thin. The photographs were taken on July 1, according to AVN. AVN reported the presi dent's stroll along a concrete pathway surrounded by grass and palm trees lasted about 10 minutes. It quoted Maduro as saying Chavez "is in a new phase of recuperation, doing his exercises." Investors have perceived the socialist leader's illness as a possible opening for change, and Venezuelan government bond prices have rallied in the past two weeks. "Bonds have gone up 7 percent since it emerged that he was in bad shape," said Russell Dallen, who heads Caracas Capital Markets, a joint venture with the investment bank BBO Financial Services. "Markets have reacted positively to the pos sibility of some change in the government in Venezuela." Before Chavez's meteoric rise to power in 1998, Venezuelans had grown largely disillusioned with the country's politicians, pointing to their reputations as unscrupulous, self-interested and corrupt bureaucrats whose only concerns were obtaining and hanging on to power as a means of filling their pockets with public funds. The dominant politi cal parties were equally disliked. Politicians from the oldguard struggled for years to shed their unfavorable image following Chavez's first victory. B ut more than a decade has passed and many Venezuelans from both sides of Venezuela's political d ivide still believe the only objective of some old-guard politicians is ousting Chavez to regain the power and influence they lost. In the past few years, oppo sition parties have made sig nificant gains in congressional and gubernatorial elections by forging alliances between conservative and leftist politicians, but ideological differences remain. "They don't all like each other. They prefer to be separate," said Luis Vicente Leon, who heads the Caracas-based polling firm Datanalisis. "They decided to be unified because they didn't have any other choice." In the opposition stronghold of Altamira in Caracas, Chavez opponent Marie Mendez said she is hopeful that the opposition "can do something effective and not egotistical." "For one thing, this could help us bring in new investments," she said. On the other hand, she acknowledges that a number of potential opposition candidates might eventually vie for the presidency "and the opposition will likely be divided." She also thinks that Chavez's illness could bring him more sympathy. Chavez might initially ben efit from public sympathy, but that is likely to give way to concerns over the potential consequences of his illness, Leon said. IN THIS PHOTO released on Saturday by the state media Cubadebate web site, Venezuela's President Hugo Chavez, centre, walks with his Foreign Minister Nicolas Maduro, right, and an unidentified person, left, in an unknown location in Havana, Cuba, Friday. On Thursdaye vening Chavez announced in a televised speech that he underwent a second surgery in Cuba to remove a cancerous tumor. (AP CHAVEZ'S ILLNESS POSES POTENTIAL PITFALLS FOR FOES S ITUATIONSEVERETESTFOROPPOSITION YOUNG MEMBERS of the group Semillero de la Patria, Simon Bolivar or Seed of the Nation carry signs bearing messages in support of V enezuela's President Hugo Chavez, in Caracas, Venezuela, Saturday. (AP SUPPORTERS of Venezuela's President Hugo Chavez chant slogans during a march in Caracas, Venezuela, Sunday. (AP
By NOELLE NICOLLS Tribune Staff Reporter firstname.lastname@example.org T HE Tribunes exclusive investigation into the Educ ation Loan Authority has r uffled some feathers, even s parking a source to claim that I am running a smearc ampaign against board c hairman Lowell Mortimer. I thought it was an interesting assertion considering the fact that I do not know Mr Mortimer personally, and it would serve n o personal or professional i nterest of mine to smear him. But there is apparently a witch-hunt on for infor-m ants and leaks, which is of no surprise, because this is often the case when unfavourable information reaches the public domain about public officials or bodies. I t is unfortunate that we l ive in a society that does n ot truly understand or appreciate how account-a bility or transparency w orks, or what the respon sibility of the Fourth Estate truly is. Whereas public officials would usually feelo bliged to answer an auditor, too often, when confronted by journalists, they feel no sense of obligation. They feel no sense of responsibility to answer our questions, as if that wouldi n some way diminish their s tature. That is their right, but often it works counter to their own interests. Many times there are reasonable explanations for seemingly accusatory questions posedb y journalists, but the fail u re of public officials to participate in the process of sharing the facts, results in clouds of suspicion form ing over their own heads. That I would daresay is far from a smear campaign. In an exclusive report, The Tribune revealed that the Education Loan Authority (ELA chaired by Mr Mortimer, approved the private issue of a $3 million bond to Campbell's Shipping, a company for which Mr Mortimer serves as presi dent and is a part owner. Transaction Tribune sources were of the opinion that the deci sion to issue the bond was a clear conflict of interest. The transaction is also perceived to be a possible conflict in the ongoing audit by the auditor gener al. When asked about the deal that earns his company over $150,000 a year in interest, Mr Mortimer said he sees nothing wrong. He said there is no insider trading, and the deal is not the same as a corporate t hing where someone is selling shares. To understand the whole bond issue you needt o speak to the Central Bank. Everyone applies through Central Bank. The bonds are totally handledb y the Central Bank. Payments are submitted to the Central Bank for theb onds. It is a totally hands o ff exercise, said Mr Mor timer. Theoretically, what Mr Mortimer said is accurate.B ut it does not tell the whole story. According to Tribune sources, the ELAi s very much involved in the sale of its government secured bonds. After all, that is what the agency was created to do. Furthermore, ELA bonds have developed a reputation of being an unsound investment, so no one wants to touch them. It is no secret how difficult it is out there selling government paper, said one source. These bonds do not sell themselves. This situation has warranted more involvement by the ELA. So in the natural course of doing the difficult business they are tasked with conducting, the ELA issueda bond to Campbell's Shipping without a competitive process. And it was the ELA board, not Central Bank that selected Mr Mortimers company. In presenting these facts, a Tribune source believes the story gave the false impression that Mr Mortimer and members of the ELA manipulated a bond issuance to Mr Mortimers advantage. I cannot dis pute what impression someone walked away w ith, but I can say categorically, the sto ry did not say that, nor did it intend to infer that. T he source also said the investigation was hurtful, because the reals tory is completely to the contrary. In the sourcesv iew, Mr Mort imers multi-mil lion dollar shipping company was sim ply performing ap ublic service by bailing out the loan programme with its$ 3 million investment. No one in the market was willing to purchase the bonds. What should he have done? Say because I am chairman of the ELA I am not going to purchase any bonds even though there is no one in the market to purchase bonds and my company is willing to take a reduced rate. He should step back? asked a source. The only takers were the National Insurance Board, which has been a longstanding ELA partner, and Family Guardian. The story did not state the circumstances of liquidity. The story did not mention that commercial banks had told the ELA they were not interested. The source was 100 per cent correct. The story did not detail those facts. Not because I conveniently omitted them, but because Mr Mortimer did no say so, nor did any of the board members or senior administrators when they were given the oppor tunity to explain the situa tion. In fact, early in the investiga t ion, when I asked o ne of the board members if Mr Mortimer was still the chairman, because some one had claimed he resigned over the bond issue, he said, Well if Lowell gone, I need to go too. At the time, the board member did not know he was speaking to a media person. The facts presented by Tribune sources were corroborated by ELA officials, who confirmed the private issuance of the bond, the companys connection to the chairman, and the source of the decision to select Campbells. Investigation These were the facts that sparked the investigation, coupled with information received about other ques tionable practices that allegedly took place at the ELA, and knowledge that the Auditor Generals Department is currently investigating. I requested an in-person, sit down interview w ith Mr Mortimer, understanding that the issue was probably complex enough to warrant something indepth, but he refused. He said he was busy, having just returned from travelling. Now I am sure he was very busy, so my call must have been an unwelcomed inconvenience, but that is the burden public officials must bear once information is in the public domain. As a public official, when the media comes knocking, particularly with credible information, if you wish to have a say in what information is out there and what impression people form, it might be a good idea to answer the door. The public has the right to know who is profiting from its money, whether it is a justifiable benefit as in Mr Mortimers case or straight up white-collar crime. Just because a public body may feel justified in its actions, d oes not mean it has the right to dictate w hether or not it matters to the people. Tal Russell, a Trib une242.com reader, commented on the article about the $3 million bond under the title, How many idiots does it take to buy an excuse? He said: Because something may not be illegal does not mean it is above board? An ordinary sister stands in front of a judge for shoplifting and stuffing a $15 frozen chicken down her bloomers and she is facing a bus ride to Fox Hill asa guest of the state, but the other one decides when it's okay to personally benefit financially from doing business with the people's money he directly (administers Because it may not fall under the scope of being a crime, all should sit well with we ordinary folks? Where these people find the balls from to do the things they do? His comments are relevant, as they speak to the heart of the social inequity that exists in society. So many Bahamians, of a par T T H H E E S S T T O O R R I I E E S S B B E E H H I I N N D D T T H H E E N N E E W W S S M M O O N N D D A A Y Y , J J U U L L Y Y 4 4 , 2 2 0 0 1 1 1 1 MORE FAILING STUDENT LOAN SCHEME DISCLOSURES SEE page 10B
THETRIBUNE SECTIONEMONDAY, JULY 4, 2011 INSIDE TRAK T T U U R R N N T T O O 3 3 E E . . . T T U U R R N N T T O O 5 5 E E . . . T T U U R R N N T T O O 5 5 E E . . . BAHAMAS 14-MEDAL HAUL AT SPECIAL OLYMPICS BRAZIL DRAWS 0-0 WITH VENEZUELA IN COPA AMERICA THOME HELPS TWINS BEA T BREWERS 9-7 BRAZIL BEA TS NOR WAY 3-0 IN WOMENS WORLD CUP WIMBLEDON: DJOKOVIC BEATS NADAL FOR TITLE KVITOV A BREAKS THROUGH FOR VICTORY HUSHOVD IN OVERALL TOUR LEAD AFTER TRIAL T T U U R R N N T T O O 5 5 E E . . . T T U U R R N N T T O O 4 4 E E . . . T T U U R R N N T T O O 4 4 E E . . . T T U U R R N N T T O O 7 7 E E . . . B y BRENT STUBBS Senior Sports Reporter email@example.com M anager/coach Marvin D arville gave the B ahamas team to the XIV Central American & Caribbean Age Group Championships an A+ after they finished second, just over 200 points behind Barbados. The two-day multiple event meet, h eld in Road Town, Tortola, British V irgin Islands, saw Barbados claim t he title with 27,290 points, followed by the Bahamas with 27,027. Trinidad & Tobago clinched thirdw ith 26,704 in the 20-team field. The team, in my opinion, did excellent, said Darville, who was assisted on the coaching staff by N ekeno Keno Demeritte and Dawn Johnson. On the second day, we went into o ur stronger events. At one point in time, we were in sixth position, but we moved into fourth. We were confident that going into their s trength events, like the long and high jumps and the longer distance events, that we would be able to pick up. While he gave the team an A+ g rade, Darville said they fell short of w inning the overall title after fatigue started to settle in on some of the athletes in the gruelling 5-7 event competition. The girls 11-12 division, which did f ive events in the pentathlon, had 3 7 competitors, while there were 30 in the boys pentathlon. The girls 13-14 seven event heptathlon had 35 competitors and there were 36 in the boys 13-14 heptathlon. Some of them started to complain about various problems, so weh ad to be careful and mindful of those things, he stated. Barring those things, we had an opportunity to win the overall title. Barbados, who won the event, were up by 1,200 points earlier in t he day, but they only managed to win by about 200 points. So we mana ged to come back. I thought we c ould have won it, but second place is pretty good. Im satisfied. D arville said it was a good exper ience for the team, including the accommodations. With BVI organising the meet for the first time, Darville said they did a pretty good j ob. There were some challenges for o ur team, but we managed to get A+ for 2nd place Team Bahamas By RENALDO DORSETT Sports Reporter firstname.lastname@example.org A DOMINANT performance on the road gives the Bahamas a com manding advantage headed into the second game as they began their long trek toward World Cup 2014 qualification. The Bahamas gave themselves a firm upper hand and a great chance of progressing to the next stage of the qualifiers with a 4-0 win in the first leg of the preliminary round against Turks & Caicos in Providenciales on Saturday. Nesly Jean scored two goals to lead the Bahamas who dominated from the games outset. Following Jeans first score at the 32nd minute, Cameron Hepple added a penalty kick in the 35th minute for a 2-0 advantage. Jean added his second goal and the third score for the Bahamas at the 60th minute. Jackner Louis entered the game at the 83rd minute and finished the scoring for the Bahamas in stoppage time for the games final margin. National team head coach Kevin Davies said despite the win, the team will continue to make adjust ments heading into the second game of the series. "I am pleased with the perfor mance, said Davies, who added that he will not make any predictions about the game on Saturday or who they can face next. Obviously, there are some things we can work on for the next leg. When you win it is always pleasing, but there are things you note and want to do differently. I am pleased with the guys and the effort they put in. All together it is an excellent team effort. For guys that havent been around to long, I think it is an excel lent team effort, they did a pretty good job. Said Gary Brough, head coach of the Turks and Caicos team: We got off to a good start, we played very well in the first 30 minutes and when they scored the first goal I think that Bahamas routs T urks & Caicos 4-0 in 1st leg S S E E E E p p a a g g e e 2 2 E E S S E E E E p p a a g g e e 2 2 E E TEAM BAHAMAS at XIV Central American & Caribbean Age Group Championships S S O O C C C C E E R R WOMENS CHAMPION: Lorraine Fowler poses in the BTC National Bodybuilding Championships at the Sheraton Nassau Beach Resort Saturday night. Payback is sweet By BRENT STUBBS Senior Sports Reporter email@example.com IT was payback time for Lorraine Fowler as she joined G rand Bahamian Robert Rob Harris with another dominating performance int he 2011 BTC National Bodyb uilding Championships at the Sheraton Nassau Beach Resort Saturday night. F owler, beaten out by Tam my Stubbs for the overall title at the Northern BahamasB odybuilding and Fitness Championships a couple weeks ago in Grand Bahama, was more determined to prove t o the judges and the fans that she definitely had the best female body in the Bahamas B odybuilding and Fitness Fed eration. Not only did Fowler easily win the heavyweight division, b ut she carted off the most symmetry and best poser award before she turned thet ables on Stubbs in the pose down for the overall title. I feel good. I worked extra hard this time. I feel really good because I know hard work really pays off, she said. It all paid off for me in the end. Back in Freeport, I really wasnt at my best. I had a little injury, but it didnt really get to me. Tammy looked really good in Freeport, but I knew she had to come back here for me and I wasnt going to let her carry that title to Freeport. While a more defined Fowler won the heavyweight title over another Grand Bahamian, veteran Charmaine McNabb, Stubbs earned her spot in the posedown by outduelling Juliette Rolle. In the posedown, Fowler really wowed the judges and had the majority of the fans on her side as they went through their composulary poses and a head-to-head S S E E E E p p a a g g e e 2 2 E E F e l i p M a j o r / T r i b u n e s t a f f
T T E E N N N N I I S S P P R R A A T T T T F F E E L L L L S S H H O O R R T T THE Bahamas Lawn Ten nis Association completed the International Tennis Federations Junkanoo Bowl Junior Tennis Tournament on Saturday. Unseeded Simone Pratt jumped out to a commanding 2-0 lead, but she couldnt sustain it as top seed Kristina Chasovskikh bounced back to win all eight remaining games for a 6-2, 6-0 triumph to snatch the crown as the girls champion. Pratt, the rising young star from Grand Bahama, also teamed up with Yijia Shao OF China to play in the girls doubles where they advanced to the semifinal, only to get ousted by the team of Fausthyar Pietersz of the Nether lands Antilles and Rianna Valdes from the United States 6-0, 6-3. On the boys side, second seed Dekel Bar of Isreal pre vailed with a stunning 6-1, 6-0 win over top seed Robert Livi of the United States of America to clinch the title. The doubles title went to the team of Bar and Andrew Ochotta of Canada with a 6-0, 7-5 decision over the team of Jose Pablo Gil and Leonardo Davis Ortiz Porras of Costa Rica. B B A A S S K K E E T T B B A A L L L L B B G G D D B B A A W W O O M M E E N N S S P P L L A A Y Y THE historic womens league in the Bahamas Government Departmental Basketball Association kicked off its inaugural season on at the DW Davis Gymnasium Saturday night. In the first game, the Royal Bahamas Defense Force Mahoos clobbered the Bahamas Union of Teachers Lady Educators 75-27 as Christine Sinclair led the attack with a game high 22 points. In the second game, the College of the Bahamas Lady Caribs held off the Bahamas Technical Voca tional Institute 32-27 as Gabrielle McKinney scored a side high nine in the win. D D A A R R L L I I N N G G F F A A M M I I L L Y Y D D A A Y Y BAHAMIAN professional football player Devard Dar ling was in town recently to finalize plans for the "Darling Family Day" a one-day fundraiser with activities for the entire family. The family fun day event is scheduled to take place at D W Davis Jr High on Saturday (July 16 Activities include a flagfootball tournament, a steakout and party boat cruise. The day begins from 10am and runs until 4pm for the steakout and flag-football tournament. The party boat leaves Potters Cay Dock at 9pm. B B S S C C S S J J E E F F F F E E R R Y Y B B U U R R N N S S I I D D E E C C Y Y C C L L I I N N G G C C L L A A S S S S I I C C THE Baptist Sports Council has announced that the 2011 Jeffery Burnside Cycling Classic is slated to take place Saturday (July 9 National Cycling Track at the Baillou Hills Sporting Complex. Burnside, a former director of the league, is being recognised for his long and dedicated service to the sport. He was a former national cycling champion. Categories for the event, starting at 10am, are male and female masters, open, 19-andunder, 15-and-under, 10-andunder and five-and-under. Interested persons can contact league president Brent Stubbs at 502-2363 or firstname.lastname@example.org for more details. _____________________ SPORTS TRIBUNE SPORTS MONDAY, JULY 4, 2011, PAGE 3E SPOR TS IN BRIEF UNSEEDED Simone Pratt competes in the Junkanoo Bowl Junior Tennis Tournament. TEAM Bahamas continues to make its presence felt among the 8,000 athletes from 180 countries competing at the Special Olympics World Games in Athens, Greece. On Friday, they added to their medal count, which now stands at 14. In basketball, they had a convincing win over Panama and will play for the gold medal Saturday against Venezuela, a team they lost to on Wednesday. Coaches Wenzal Swain and Nathan Adderley are promising a victory in this standoff. In swimming, coach Desiree Dean is smiling with the two gold medals won by Kishnell Knowles in the 50 meter backstroke and Alvia Penn in the 50 meter butterfly. On the track, Jeremy Culm er fought hard for his silver m edal in the two-day compet ition of the pentathlon. After a fourth place finish in the 400 meters, Dion Far quharson won his bronze medal in the 800 meters in a very tough field. In tennis, Dwanika Rose won a silver medal in the singles competition and she teamed with partner Julya Williams to win bronze in the doubles. The boys team of Zekuumba Major and Adrian Robinson followed up with a bronze medal in the doubles. The finals of bowling, bocce, basketball and judo were held Saturday and Sunday. The team is scheduled to return to Nassau on Wednesday. Team Bahamas 14-medal haul at Special Olympics