Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

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

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Full Text
{T)

Pim blowin’ it
HIGH 90F
LOW 75F

MOSTLY CLOUDY,
ony FSTORMS

Volume: 106 No.260

Cordell Farrington
locked up

Tim Clarke/Tribune staff

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

THE horrifying details of how
four young boys died at the
hands of perverted Cordell Far-
rington were revealed to their
grieving families yesterday.

Relatives listened in disbelief
as prosecutors disclosed the sor-
did and gruesome circumstances
surrounding their killings on
Grand Bahama seven years ago.

The court heard how 43-year-
old Farrington picked up Mack-
inson Colas, 11, Junior Reme,
11, Deangelo McKenzie, 13, and




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TEARS OUTSIDE COURT: Grieving family members (above and far rah)
of the victims had to leave court yesterday as emotions ran high.
Cordell Farrington (centre) was sentenced to life imprisonment.

ree ees) t ora

The Tribune

=USA TODAY.
BAHAMAS EDITION

www.tribune242.com

FRIDAY, OCTOBER 1, 2010



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



for life








Desmond Rolle, 14. He bru- |
tally attacked them and hid
their bodies in secluded
areas, only to return weeks
later to collect the remains
and store them in boxes at
the home of his unsuspect-
ing former girlfriend.

The revelations during
Farrington’s sentencing
hearing yesterday sparked
an emotional outburst from
members of the victims’ fam-
ilies who sobbed uncontrol-
lably and had to be ushered
out of the court.

SEE page eight



FAMILY OF MAN SHOT DEAD BY POLICE
: ACQUIRE LEGAL COUNSEL

! CHRISTIE: PM HAS SOURED PUBLIC
_ OPINION ABOUT BAHA MAR DEAL

: FORMER PM REGRETS NOT SELLING BIC

GR Sweeting's

T

Coming Soon.Jo Harbour Bay...





NASSAU AND BAHAMA ISLANDS? LEADING NEWSPAPER



THE TRIBUNE

FRIDAY, OCTOBER 1, 2010, PAGE 5



Many senior citizens ‘deprived

of homes, property and pension’

COUNTLESS numbers of
senior citizens in the country
are being deprived of their
homes, property and even
their old age pension, accord-
ing to Minister of State in the
Ministry of Labour and Social
Development Loretta Butler-
Turner said.

And with some Bahamian
families unable or unwilling
to assist their older relatives,
the Department of Social Ser-
vices is frequently expected to
house those neglected seniors
and take care of their needs,
she said.

Speaking during a press
conference on Monday to
announce the schedule of
activities for Older Persons
Month, Mrs Butler-Turner
said:

“Unfortunately, these peo-
ple do not believe that their
seniors are their responsibility.
The attitude is that they can-
not afford to care for their
parents or relatives financial-

“Hence, we must take the
role as caregivers and must
protect them from abuse and
exploitation.”

She said individuals must
be cognisant of the needs and
rights of the older, more vul-
nerable members of our soci-
ety.

“These rights include inde-
pendence, participation, care,
self-fulfillment and dignity.”

Mrs Butler-Turner
explained that the United
Nations states that the rapid
growth of the number of older
persons could result in
increased poverty, decline in
housing and healthcare.

Therefore, she said, it is
very fitting that the Bahamas
has adopted the United
Nations theme ‘Older Persons
and the Achievement of the

Suspended students confront
parents about existence of gangs





























ANNOUNCEMENT: Minister of
State in the Ministry of Labour
and Social Development the
Loretta Butler-Turner (left)
announces the activities for Old-
er Persons Month being cele-
brated in the month of October at
a press conference. Sitting on
the right is administrator of the
Persis Rogers Home and Nation-
al Council on Older Persons
member Francis Laedee.
Letisha Henderson/BIS

Millennium Development
Goals’.

These goals are: eradicat-
ing extreme poverty and
hunger; achieving universal
primary education; promoting
gender equality and empow-
ering women; reducing child
mortality rate; improving
maternal health; combatting
HIV/AIDS, malaria and other
diseases; ensuring environ-
mental sustainability and
developing a global partner-
ship for development.

Mrs Butler-Turner said the
Senior Citizens Division along
with other officers of the

SCHEDULE OF ACTIVITIES FOR OLDER PERSONS MONTH

DURING the month of October — designated as Older Persons
Month — several activities will be hosted by the Department of Social
Services in partnership with the National Council on Older Persons to
highlight issues, concerns and accomplishments related to senior cit-
izens.

Today, a church service will be held at St Francis Xavier Cathedral,
West Street.

An exhibit will be held this coming Tuesday in the foyer of the
Clarence Bain Building that is designed to create a sense of awareness
regarding items that were utilised many years ago.

There will also be a workshop on Dementia on Thursday, October
14, at the Transfiguration Church Hall that will inform on how to
care for persons experiencing the ailment.

On Friday, October 22, the computer closing exercise will take
place. The purpose of the classes is to give older persons the intro-
ductory information on modern technology. Then there will be a fun
day for persons in group homes/rental units and urban renewal
areas,

On Monday, October 25, the ministry will host its annual Nation
Builder Award Ceremony, which will be held at Government House.

Special awards will be presented to 10 older persons and unsung
heroes, drawn from nominations throughout the Bahamas, for their
contributions to the development of the country.

Department of Social Services
throughout the Family Islands
will continue to ensure the
enactment of the Millennium
Development Goals, while
examining closely the aging of
our population.

UC) fer: ||

Pest Control
322-2157

Exterminators

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

A GROUP of suspended students from a
North Western District junior high school con-
fronted their parents on Thursday about the
existence of gangs.

They did so in a reconciliation meeting with
Superintendent Leon Bethel from the Cen-
tral Detective Unit (CDU) and Pastor Carlos
Reid of the Hope Centre Ministries.

The meeting was a first of its kind, intended
to foster a relationship between the families,
the police and the children. Supt Bethel said
the police were looking to partner with the
community to “reform minds” and not just
“lock up kids.”

He said the “animosity” between children
remains even after someone is locked up, so
additional intervention is needed. He said the
“hatred” between the students grows over
time when the root of the problem is not
addressed.

The boys, ranging in age from 11 to 14, rat-
tled off the names of over 15 gangs they claim
are present in their school: the Gun Dogs and
Gun Hawks, Yen, R&R, Westside Jubilee,
Dirty South, Swampers, Mason Murderers,
Pinewood Niggas, to name a few.

They all have a corresponding community
and territory on the school compound.

Principals will deny the fact that gangs exist,
according to Pastor Reid, because some of
them fear they might “lose their job.” In the
minds of the children, he says, it sends the
message that “we live in a false world.”

Fighting

“Either you are blind, dumb or you are try-
ing to cover up the fact that you have a prob-
lem. I have had students tell me how they
have to jump the school fence before the bell
rings just to get out. I have even run into stu-
dents who dropped out of school because they
were tired of fighting; they were out num-
bered and tired of having to defend them-
selves. That is the culture we are in now,” said
Pastor Reid.

The pavilion at one junior school, for exam-
ple, is said to controlled by the Raiders. One
mother, said her son told her, “boys come by
the pavilion and push their hand in your pock-
et and steal your lunch money.” Her son had
his school bag stolen and cut up during the
first week of school.

She said her son appears to be “shifting his
character” at school to fit in, and the changes
are now starting to spill over at home. Pastor
Reid said she was not alone, because he has
counselled students who say they fail exams
intentionally, so they do not stand out.

The faces of some mothers showed a clear
expression of surprise that gangs exist, and
their children were aware. The meeting pro-
vided an opportunity for the parents to express
their frustration and assist in coming up with
solutions to the problem.

One of the mothers had earlier discounted
the presence of gangs, saying anytime a group
of boys are together they are said to be in a

gang. She said her son is not in a gang, but he
is sometimes forced to defend himself.

Another mother said she once witnessed a
group of “outside boys” verbally harassing
random students in front of her son’s school.
She said the boys ripped the pocked off a
female student’s blouse and stole her money
before running off.

In the past few days, she said school admin-
istrators started escorting students to the bus
stop, which was a helpful initiative.

One of the grade nine boys said he did not
feel threatened in school because “most of
them are scared of me.” He said his record of
fighting goes back to grade 7. Fighting was a
necessity, he said, in order to prove himself.

One parent said she did not want her son to
feel he had to take matters into his own hands.
He wanted him to learn to use the proper
channels.

Retaliate

One of the suspended boys said this was
not practical, because students retaliate when
they are reported to the authorities.

He said, an incident that may have been
between two students would definitely escalate
into a fight between two gangs.

“Some of them, after you do that they will
come back and beat you, and they will gang
you this time,” he said.

Pastor Reid explained to the parents that
“every area has a crew,” and the parents are
not informed because “they know you gone
pop their neck.” He said the boys do not want
to be in gangs, but they feel forced to align
themselves with a faction in order to protect
themselves.

“Students are aligning themselves with var-
10US groups.

“We label them as gangs because (their
behaviour is) moving towards the negative. I
would be naive if I were to say to you they did
not exist. Some of them are more hostile than
others, but as we have read of gangs and seen
them on the television, I don't think we have
gotten to that point,” said Howard Newbold,
superintendent of the North Western District.

“T have been in education for 40 years. We
have seen symbols of students who claim they
are affiliated with gangs.

“Many of them attach themselves to groups
for many reasons, for safety reasons, and to
attach themselves for positive reasons, like
going to a friend to study,” said Mr Newbold.

“When I was in school there were groups of
students who would move together, but we
weren't gangs in the negative sense. What we
did would have been positive.

“There was a safeguard in the numbers. I
believe that is philosophically what is hap-
pening,” he said.

Pastor Reid agrees that youth gangs in the
Bahamas are not as organised as American
gangs, but he insists that is the direction in
which the Bahamas is headed.

He said gang activity accounts for a lot of the
bullying, petty theft, school stabbing, and cross
rivalry, but there has recently been a branch-
ing out into more serious activity, such as car
theft and housebreak-ins.

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BEC continues with planned
upgrades at power plant

By REUBEN SHEARER
Tribune Staff Reporter
rshearer@tribunemedia.net

IN ITS ongoing effort to improve electricity supply
to more than 8,000 customers in Abaco, the Bahamas
Electricity Corporation is continuing with planned
upgrades at the new Wilson City Power Plant, now in
its final testing phase.

The upgrades will improve electricity supply on the
island, and residents will no longer experience black-
outs due to load shedding, a statement from the corpo-
ration said.

BEC went on to accept responsibility for the recent
outages on Abaco, explaining that it became necessary
to maintain a balance between demand and generation
capacity until the power station is properly function-
ing.

The purpose of the new power plant is to provide
additional capacity to support the corporation’s Marsh
Harbour facility, which is incapable of fulfilling Aba-
co’s growing power needs.

BEC requested the patience of Abaco residents as
they work “feverishly to bring the Wilson City Power
Plant back online and provide seamless electricity sup-
ply to customers.

“We hope that future outages will be kept to a mini-
mum as we go through this brief testing phase,” said a
BEC official.

Scripture Thought
LUKE 11:44-46

44, Woe to you, scribes and Pharisees,
hypocrites![g] For you are like graves
which are not seen, and the men who
walk over them are not aware of
them.”

45. Then one of the lawyers answered and
said to Him, “Teacher, by saying
these things You reproach us also.”

46. And He said, “Woe to you also, lawyers!
For you load men with burdens hard
to bear, and you yourselves do not
touch the burdens with one of your
fingers.

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PAGE 6, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE





The Baha Mar saga has
haunted nation for years
TONG ANAT

By ADRIAN GIBSON
ajbahama@hotmail.com

FROM THE outset, the
proposed project to rede-
velop Cable Beach (Baha
Mar) seemed unjustifiable
as there’s no volume of
business to rationalize such
a massive investment, which
appeared destined to
become nothing short of a
white elephant. Since the
early days, the so-called
redevelopment project has
been on the brink of total
collapse, languishing in a

ADRIA

perpetual state of dorman-
cy.

The Baha Mar saga can
be likened to a ghost story,
that is, one that has haunted
the nation for years but
remains an economic pol-
tergeist. Will it ever come
to fruition, emerging from
the vividly make-believe

| 3 S © IN

world of the developers’
imagination to something
that is tangible, that the
Bahamas can be proud of?

The Baha Mar deal has
been shrouded in mystery
and riddled with top-secret
clauses and fire-sale con-
cessions from the time that
it was initially brought into



ee eee

LEFT-RIGHT: Sheryl Knowles, Pinewood Urban Renewal; Constable Chester Walker; Kindrick Rolle,

Organiser; MP Bryan Woodside, sponsor; Edward Curling, sponsor; Bishop George Barr Jr; Ken John-

son, Christian Massive.

THE second annual Stop the Violence com-
munity festival will be held today and tomor-
row at Pinewood Park, under the theme “More
On Friday, between
Spm and 11pm, there will be a gospel jam-
boree featuring community choirs, dance
groups, drama groups and gospel artists. The
night will end with a candle-light community

peace on our streets.”

prayer.

rush.

games.

On Saturday, there will be a cultural fair
and concert, beginning at 6am with a fun-walk
and health screening. This will be followed by
a souse-out, live performances, marching
bands, games and competitions and a junkanoo

There will be a Kids Corner featuring a
bouncing castle, face painting and slides and

NATIONAL
YOUTH
MONTH

ACTIVITIES

the public’s consciousness.
Frankly, although the cur-
rent administration has
sought to renegotiate the
deal, it has represented a
reckless gargantuan han-
dover of public land on a
silver platter for nothing
more than a jar full of shiny
beads!

Since the giveaway of a
hotel and hundreds of acres
of publicly-owned prime
land on Cable Beach, all
I’ve seen thus far are fanci-
ful visual representations of
Baha Mar’s dreams that are
repeatedly paraded on
nightly newscasts, the clo-
sure of the Nassau Beach
hotel and legal squabbles
between the developers and
their financiers.

Financiers

The great land giveaways
by the former government
has been, in some cases, to
several carpetbagger devel-
opers who are more com-
parable to land speculators,
as they don’t have the
monies and must search for
financiers and/or earn capi-
tal from selling lots for hun-
dreds of thousands of dol-
lars. In some instances, it
appears that Bahamian
Crown land has been given
away for 30 pieces of silver
to mere amateurs who
know little about the devel-
opment of resort properties.

Honestly, it has been a
while since we’ve had a
major project in the ilk of
Atlantis, Paradise Island.

The decision of Prime
Minister Hubert Ingraham
to temporarily shelve a con-
troversial labour resolution
for the Baha Mar project
was representative of the
classically good common
sense for which the PM has
become known.

It would have been fool-
ish for the government to
pass a favourable resolution
for Baha Mar when they
have a yet unsettled loan
with Scotia Bank for more
than $200 million and with
the China Export-Import
Bank refusing to release
financing because they are
secking to use the proper-
ties on Cable Beach (the
Sheraton and Wyndham
resorts) as collateral to
secure their loans. So, what
are the implications for the
Bahamas if Baha Mar
defaults on yet another
loan? How can they repay
$2.6 billion when it appears
that they have serious diffi-
culties paying back $200
million? Has Baha Mar paid
outstanding government
taxes and, if not, when will
they do so? There is too
much at stake here.

The economic downturn
in the US makes the Baha
Mar project seem even
more far fetched, since an
ongoing recession means
that many of the potential
80 per cent of American
tourists who annually visit
our shores will be more pro-
tective of their discretionary
income and therefore not
travel.

Even more, the absurd
request for more than 8,150
work permits for Chinese

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

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

and other foreign workers
to come to the Bahamas to
participate in the re-devel-
opment project is simply
unconscionable. Moreover,
the Prime Minister is
right—there will be little to
no transfer of knowledge to
locals!

If the developers can
default on a $200 million
loan with Scotia Bank, to
the point that they could
only achieve a resolution on
“the broad parameters of an
appropriate settlement,” the
Prime Minister must have
considered the damning
consequences for such an
extensive, exclusive strip of
land (Cable Beach) if the
principals behind Baha Mar
default on repayment of the
Chinese loan. Put simply,
the xenophobic fears of
Creole becoming an official
national language would be
surpassed by the notion that
Mandarin will become the
mandatory second lan-
guage—at least the lan-
guage for business transac-
tions—and the Chinese
would control a large seg-
ment of our tourism product
and arguably the best strip
of property on New Provi-
dence.

The Prime Minister, in
discussing Baha Mar, said it
best when he stated:

"We also have to take
into account reality. We
have operating down in
Cable Beach now a number
of hotel rooms — a number
of them are closed now,
including the casino. Well if
Thave difficulty dealing with
less than 1,800 rooms what
is it likely to be the case if I
put 3,500 rooms there?
What makes me feel and
what gives me the level of
confidence that all of a sud-
den I've become a magician
in terms of the management
of a hotel and I'm going to
have avery successful oper-
ation with high levels of
occupancy and good levels
of revenue to repay the loan
of $2.4 billion?

Loan

"And if I am having dis-
cussions about the question
of repaying a loan of $200
million that is dragging on
and on, does that raise any
question that I ought to be
concerned with? These are
all matters that the govern-
ment has to be concerned
with.

"My duty is to do what I
think is best for the Bahami-
an people and we are con-
sidering and pondering all
these matters before we
give formal consideration".

Amen to that!

Seemingly, the PM is
ensuring that Bahamians
are not, yet again, raped of
their patrimony in yet
another land grab. Frankly,
the Baha Mar deal should
be entirely renegotiated or
nixed!

TERRIBLE SERVICE
OF CABLE BAHAMAS!

With all of its fancy TV
commercials promoting its
move to a digital format,
Cable Bahamas must
improve its internet service.
From Monday to sometime
after 1pm yesterday, I had
been inconvenienced and
without internet service.

Frankly, the response
time for technicians is unac-
ceptable and there is no
acceptable excuse for my
failures with internet con-
nectivity.

As I have indicated to
their customer service rep-
resentative, I expect my
account to be credited for
the days that I was without
service. Surely, Cable
Bahamas should know that
internet service and quick
responses to failures are
paramount in this age of
modern technology, e-com-
merce and instant commu-
nication. Whilst the cable
company is usually more
consistent than many of the
quasi-government utility
companies, the aforemen-
tioned should be duly not-
ed!

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



PAGE 8, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE



LOCAL NEWS

Cordell Farrington

locked up for life

FROM page one

Farrington had already
pleaded guilty to manslaugh-
ter. In his confession, he
revealed how he picked up
the unsuspecting boys,
sodomised them and then
killed them. He told how he
hid their bodies at Barbary
Beach in eastern Grand
Bahama, returning weeks
later for their remains.

Sentencing Farrington to
life, Senior Justice Jon Isaacs
described the killings as
“horrific and not of some-
one who should be readmit-
ted into society.”

The court heard how Far-
rington, tired of killing,
walked into the Central
Police Station in Grand
Bahama, told police he sim-
ply could not take it any-
more and confessed to the
murder of 22-year-old
Jamaal Robbins — who he
claimed had been his lover —
as well as the murders of the
four boys. Farrington is
already serving a life sen-
tence for the death of Mr
Robbins.

Mackinson Colas went
missing on May 16, 2003. He
was last seen by his mother.

Farrington told police he
had picked the boy up on
Pioneer’s Way, Freeport. He
confessed that he took
Mackinson home, ordered
him to take a shower and
told him he was going to kill
him.

According to his state-
ment, Farrington said that
when the boy asked why he
had to kill him, he replied
by saying simply that he
“had to do it.”

Farrington told police he

bound the boy by his hands
and feet with duct tape and
struck him on the head sev-
eral times with a wooden
plank. He then put the boy’s
body in the trunk of his car,
drove to Barbary Beach and
buried him there. Two
weeks later he returned to
collect his remains.

An outburst by a sister of
the deceased prompted the
judge to order that all rela-
tives leave the court.

“You took my brother
from me. You are supposed
to die,” the woman shout-
ed.

Deangelo McKenzie was
last seen by his grandfather
on May 27, 2003. Farrington
told police he picked up the
boy in the parking lot of the
Church of God while he was
heading home from school.
He said he had asked the
boy to go home with him to
pick up some equipment for
the church. He confessed
that he took the boy home
and had sex with him twice.
He asked the boy about his
family and told him he was
going to have to kill him. He
said the boy told him that
he only wanted to go to
school and have a good edu-
cation.

Farrington then bound the
boy with duct tape and hit
him in the head several
times with a wooden plank.
He then put the boy’s body
in the trunk of his car and
drove to Barbary Beach
where he hid the body.

Junior Reme was reported
missing on July 29, 2003, and
was last seen by his mother.

Farrington told police he
had picked the boy up at the
rear of Christ the King

RBC Royal Bank"

Anglican Church and took
him home. There he
ordered the boy to take a
shower but the boy refused.

Farrington told investiga-
tors that he bound the boy
with duct tape and the child
started to scream, so he
stabbed him in the neck with
a knife; all the while his own
son was in another room.
He told police he took the
boy’s body and put it in the
trunk of his car. He then
drove to Barbary Beach
where he hid the body. Far-
rington told police he was
sorry the boy had to die such
a horrible death.

Desmond Rolle was last
seen by is mother on Sep-
tember 28, 2003.

Farrington said he picked
the boy up at a park while
heading to William’s Town.
He told the boy he knew his
mother and brother, and
having gained his trust,
drove him to a bushy area
where he handcuffed and
raped him. Farrington then
slit the boy’s throat, took his
body back to his car and
committed a sex act. He
took the boy’s body to Bar-
bary Beach, slit open the
chest cavity, removed his
heart and severed his limbs.
Farrington told police he
was trying a “new way” to
kill.

Prosecutor Neil Brath-
waite said there was evi-
dence that Farrington had
also been involved in bes-
tiality, had been admitted to
Sandilands and had suffered
physical, emotional and psy-
chological abuse. He said
the prosecution had accept-
ed Farrington’s plea of guilt
to the charge of manslaugh-

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To our Valued Clients

We wish to advise that effective November 1, 2010’, Royal Bank
of Canada’s domestic retail and commercial banking opera-
tions conducted out of its branch network in The Bahamas will
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Canada, which is headquartered in Toronto, named RBC Royal
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Tom ecm ALMA eLOm Ce) CLES e

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laws of The Bahamas and will be licensed by the Central Bank of
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As a client, you will continue to receive the same competent,
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ter as he had acted with
diminished responsibility.

When asked whether he
had anything to say, Far-
rington broke into tears in
the prisoner’s dock.

He said: “I didn’t fully
understand what happened
but I ask for forgiveness
from the family members.”

His attorney Ramona Far-
quharson noted that Far-
rington had confessed to the
crimes and had suffered
from a severe personality
disorder. She submitted that
prior to committing the
offences he had been a pro-

LIFE SENTENCE: Cordell Farrington outside of court yesterday.

= eo

ductive and law-abiding cit-
izen.

In sentencing Farrington,
Senior Justice Isaacs noted
that the promising lives of
four young boys had been
snuffed out and that the
court could show no further
degree of mercy to Farring-
ton other than what had
already been afforded him.
He also noted that Farring-
ton reportedly suffered from
a severe personality disor-
der. Senior Justice Isaacs
described the killings as
“horrific and not of some-
one who should be readmit-



ted into society.”

He sentenced Farrington
to life imprisonment on each
of the four counts. The
judge stated that while in
prison he would receive the
counselling he needs. The
court hoped that he would
spend the rest of his natural
life in jail.

Relatives of the deceased
refused to speak after the
hearing.

Farrington’s attorney said:
“T think there is a sense of
relief that everything has
finally come to a conclu-
sion.”

Family of man
shot dead by
police acquire
legal counsel

FROM page three

members that required intervention.

Reginald’s daughter Nickell said her
father may have retorted if someone
approached him and treated him like a
vagrant, because he was a proud man and
often did not stay quiet when disrespected.

“If someone spoke to him in a demeaning
way, he would say, ‘I have children your
age, let me give you their business card.
Obviously you don’t know how to talk to
me; let me send you to my educated children
so they can teach you how to talk to peo-
ple’,” said Nickell.

The most problem he would cause, she
said, is that his words “would cut you.” She
said her father had no need to beg, because
he had strong family support.

The family is concerned about the dis-
crepancies between eye witness accounts
and police reports. They say, even if police
accounts are true, they should have acted in
a more professional manner to diffuse the
situation and provide help for their father.

“Ts that the order of the day, where a
police officer shoots someone and leaves
them on the road to bleed like a dead dog?
I am all for police protecting themselves,
but he was an old and frail man. If you
kicked him to the ground, why could you not
restrain him? Why did you have to dispense
your weapon?” Patrice asked.

Reginald was known by many names:
Morning George, Boy, Cisco. For some time
his daily routine was to leave his business
interests in Bain Town to visit his family
downtown. The route included a stop by his
brother George at the British Colonial
Development Company, his daughter Nick-
ell, who used to work at Fluid Club, and
then his daughter Shurie, who used to work
at Scotia Bank main branch.

After making his family rounds, he would
head back to the bus bay and catch a bus
over the hill, where he was in the process of
building an apartment building.

“He would have spent most of his days
sorting out his property. Other than that he
would be relaxing in front of his building
greeting whoever. He still was into exercis-
ing. He would swim on the beach by Long
Wharf, do a run by the fort, and he was
inside by 6pm. No time after 6pm would he
be outside,” said Nickell.

He started out as a kitchen steward at
Compass Point, when he first entered the
hospitality business. For about ten years
after that he served as a public transport
operator, running a taxi from the airport
and Paradise Island.



REGINALD ‘CISCO’ SMITH pictured with his fam-
ily. He was shot by police on Bay Street.

Shurie said people “prejudged” her father
because of his appearance, perhaps because
they saw a man with his hair grown.

“Tnitially they must have felt he had
nobody. It was a textbook case, open and
shut. They felt they didn’t have anyone with
sense to answer to, but we beg to differ,”
said Shurie.

“Even if they felt the action was justified
they should show some compassion. To me
they are being arrogant about it as though
they do not have to answer to anyone,” she
said.

The family says it is trying to shield its
young children from developing negative
feelings towards the police. The family is
now faced with that threat. Reginald has
several grandchildren.

“We want the truth to be known so our
children don’t grow up with that bitter taste
in their mouth against the police. When they
think about ‘Papa’, we want our kids to say
justice prevailed, not this is what happened
to Papa and nobody did anything about it,”
said Patrice.

“We don’t want that to dwell in our fam-
ily. We don’t want to hate the police, we
want to respect them. You want to grow up
you children in the light that they respect
authority. We want them to believe if they
live the right way, then justice will prevail,”
she said.

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





THE TRIBUNE 6

U



—

FRIDAY,

ne



OCTOBER

I



2010

SECTION B ¢ business@tribunemedia.net



Pl timeshare
97% sold-out

* Atlantis expecting full group
rebound in 2012, with
marginal comeback in 2011

* No fall Beach Tower closure
for first time

* Reef condo-tel shows
greatest occupancy increase,
with Atlantis occupancies set
to end 2010 above last year’s
levels

A

GEORGE MARKANTONIS

By CHESTER ROBARDS
Business Reporter
crobards@tribunmedia.net



Timeshare units in the Har-
borside complex on Paradise
Island are now 97 per cent
sold-out, Tribune Business
was told yesterday, with
Kerzner International expect-
ing Atlantis’s group business
to make a marginal comeback
next year before returning to
a semblance of pre-recession
levels in 2012.

George Markantonis,
Kerzner International
(Bahamas) managing direc-
tor and president, said
Atlantis’s overall year-over-
year occupancy levels show a
rebound in stopover visitor
numbers.

And while the group busi-
ness dynamics have changed
since the global financial crisis
and ensuing recession, book-
ings for 2011 will be above
2010. Mr Markantonis said
the large corporate retreats

SEE page 4B

78 jobs lost
as Sir Jack
evicts son

By NEIL HARTNELL
Tribune Business Editor

Some 78 Grand Bahama
residents were out of work
last night after the Port Group
Ltd affiliate that runs the Port
Lucaya Marketplace evicted
the three restaurant business-
es owned by Sir Jack Hay-
ward’s son, Rick, who told
Tribune Business last night:
“T’m incredibly, enormously
upset.”

Speaking to this newspaper
just hours after representa-
tives of Bourbon Street Ltd,
the Port Group/Grand
Bahama Port Authority sub-
sidiary that owns the Market-
place, locked him and his staff
out of the three properties -
La Dolce Vita, the Pub at
Port Lucaya and East - Mr
Hayward expressed his
unhappiness at being unable
to come to terms with the
landlord over a new
lease/rental agreement.

“Tm incredibly, enormous-
ly upset about the whole
thing, and that we couldn’t
come to an agreement. We’ve
got 78 people out of work. It
is totally unnecessary,” Mr
Hayward told Tribune Busi-
ness.

He referred to a potential
agreement that had previous-
ly been reached between him-
self, his company, LDV Ltd,
and the landlord in summer
2010, which involved Bour-
bon Street and the Port
Group forgiving the rental
debts - estimated at about
$500,000-$600,000 - in return
for handing East over to

SEE page 4B

Kerzner: No Phase
IV till Baha Mar end

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By CHESTER ROBARDS
Business Reporter
crobards@tribunmedia.net

KERZNER International
will not consider moving for-
ward with its Paradise Island
Phase IV expansion plans

LANDMARK: The world-renowned Atlantis resort on Paradise Island, which is a huge tourism draw.

until the $2.6 billion Baha
Mar project comes to a final
conclusion, its managing
director revealed to Tribune
Business yesterday, fearing
that the Bahamian resort mar-
ket would be “over-saturat-
ed” if new room inventory

Customs ‘detains’ firm’s 8
trailers over sales report

* Wholesaler and attorneys threaten legal action over
‘unlawful’ detention of goods, warning it placed
company’s business ‘in jeopardy’ and already

suffering financial losses

* Company already pays $1m in duties to Treasury per
annum, and executive says three more trailer imports
placed on hold until matter resolved

* Government revenues and product sales both
impacted, with high-demand products facing

possible inventory shortages

By NEIL HARTNELL
Tribune Business Editor

A leading Freeport whole-
saler is threatening to take legal
action against Bahamas Cus-
toms over the ‘unlawful deten-
tion’ of eight trailers’ worth of
imports, one of its executives
telling Tribune Business last
night that the situation was
harming both its sales and the
$1 million per annum duty con-
tribution it makes to the Gov-
ernment’s revenues.

Christopher Lowe, opera-
tions manager at Kelly’s
(Freeport) and a former Grand
Bahama Chamber of Com-
merce president, said the com-
pany had temporarily suspend-
ed the importation of three
more trailer loads of products
until the situation with Customs
was resolved, since there was
“not much point” in importing
them if they could not be sold.

Explaining that the situation
related to Customs’ demand for
Kelly’s (Freeport) to submit a
report to it on its bonded good
sales, and its threat to not clear
the company’s trailers until this
was received, Mr Lowe said the
company currently had 10 trail-
ers’ worth of imports it was
unable to receive.

“We have 10 trailers on the
ground, and three more trail-
ers we have put on hold with
the vendors,” Mr Lowe
explained, “as there’s not much
point in importing goods if you
are unable to clear the goods
and sell the goods.

“They’re hurting the Trea-
sury and the Government's rev-
enues more than us. We sub-
mit to them $1 million a year in
duty collected on their behalf.”

Mr Lowe said he was unable
to precisely detail the quantity
and value of products contained
in the trailers presently
detained by Customs, but said it
was “significant, because those
are the products that are replac-
ing the products that we are

SEE page 2B



was released at the same time.

George Markantonis said
Atlantis does not want to sat-
urate the room inventory of
Nassau/Paradise Island with
its planned Phase IV devel-

SEE page 3B








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

Bahama’ Health

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‘Reputation risk’
fear on financial
fraudster justice

* Senior attorney and QC warns that Bahamas must show
financial sector has ‘integrity and is first class’ by holding

white collar criminals to acc
*Adds that regulators must b

ount
e more proactive when ‘writing

is on the wall’ to prevent financial collapses, and do better

job on justice for investors p

ost-collapse

* Tells Tribune Business: ‘We've got to demonstrate through
actions and regulatory structures that if you rip off investors
in the Bahamas, you will be brought to justice and held

accountable for your conduct. It is only in that environment

investors feel comfortable in

By NEIL HARTNELL

Bahamian entities’

Tribune Business Editor

A leading attorney yesterday

expressed concern tha

t the

Bahamas was running “a real rep-
utational risk” because very few
fraudsters and wrongdoers respon-

sible for financial collapses

in this

nation had been brought to jus-

tice, while the regulators

rarely

failed to detect such problems in

their infancy.

Brian Moree QC, senior part-

ner at McKinney, Bancr

Hughes, told Tribune Business that

SEE page 2B

oft &

i
BRIAN MOREE



‘Desperate men do
desperate things’

By NEIL HARTNELL
Tribune Business Editor

“Desperate people take des-
perate measures” was how the
hedge fund financier for an
$857 million Bahamian resort
project yesterday labelled its
former partner, describing as
"outright lies" its allegations
that it “fabricated the unavail-
ability" of a key witness.

Responding to claims that it
misled Roger Stein, and his
RHS Ventures company, over
the unavailability of the man

SEE page 4B

Llc

a)!
[al

A DIVISION OF

&

FAMILY GUARDIAN .-

* $857m South Ocean
project financier hits
back at ‘outright lies’ of
former partner in bitter
courtroom battle

* Alleges that latest
claims an effort ‘to
obtain yet another delay’
to ratifying of arbitration
award removing him

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INSURANCE COMPANY LIMITED 7%

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PAGE 2B, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE



Sea a 2
‘Reputation risk’

Customs ‘detains’ firm’s 8
trailers over sales report

FROM page 1B

selling, the products on
demand”.

He added that the failure to
clear those trailers would have
“an immediate impact on
sales”, given that Kelly’s
(Freeport’s) business model
was dependent on a fast inven-
tory turnaround.

This meant that it might start
experiencing shortages in high-
demand products, hence the
position of Kelly’s (Freeport)
and its attorneys that it will
launch legal proceedings within
48 hours, unless Customs with-
draws its demands and clears
the company’s trailers.

“Not only does every busi-
ness in Freeport have to fight
off a rough economy, now they
have to fight off our govern-
ment, and I’m glad we’re in a
position to be able to fight on a
matter of principle, because it
will have an effect on all
licencees,” Mr Lowe told Tri-
bune Business.

“They’re in effect making a
request of you just like a person
who’s a gun to your head and
demanding your wallet. That is
effectively their approach;
you're being asked to do some-
thing at the point of a gun.”



Fh

eR See ee



FRED SMITH

A September 30, 2010, letter
sent to the Comptroller of Cus-
toms and head of Customs in
Freeport by Kelly’s (Freeport’s)
attorney, Fred Smith QC, a
Callender’s & Co attorney and
partner, called on the govern-
ment agency to withdraw its
demand for a bonded goods

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sales report as contained in its
August 5, 2010, letter to the
company.

Stating that a review of the
Hawksbill Creek Agreement
and Customs Management Act
produced no authority for Cus-
toms to legally demand such a
report, Mr Smith wrote: “This
spontaneous demand is con-
trary to an established practice
that has existed between our
client and your Department
since 1986, whereby our client
provided monthly duty paid
sales reports and entries to your
Department.

Decades

“Our client is a Licensee of
the Grand Bahama Port
Authority and has conducted
its business under the provi-
sions of its License for decades.
The importation of duty-
exempt goods by our client is
governed by the Hawksbill
Creek Agreement and the law
of the Bahamas, and not at the
whim of your Department.

“Our client has contractually
and statutorily protected rights
to conduct its business as it has
been conducting it, and has a
legitimate expectation that it is
entitled to continue to conduct

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its business as heretofore with-
out arbitrary interference by
your Department conjuring up
new procedures.”

Bonded goods sales is a prac-
tice whereby Freeport-based
wholesalers, such as Dolly
Madison, Kelly's (Freeport)
and Bellevue Business Depot,
are able to sell products to oth-
er GBPA licencees for use in
their respective businesses only,
without any duty being paid to
Customs/Government on their
sale. It is a report on this activ-
ity that Customs is seeking, but
Mr Lowe is arguing this has
never been required before.

Meanwhile, Mr Smith
accused Customs of “making
good on its threat” to enforce
Kelly’s (Freeport’s) compliance
by “preventing our client
importing containers of articles
for its business”. Some eight
containers had been detained,
he alleged, with Mr Lowe
telling Tribune Business that a
further two had since arrived
on Grand Bahama.

He said: “We are instructed
that our client delivered all of
the necessary documentation
in respect of six of the trailers
on September 21, 2010, and the
other two on the 22nd Septem-
ber for clearing the same.

“In respect of six of the trail-
ers, your Department has
refused to permit clearance of
the goods on the basis that
‘Bonded sales for January-
August are needed’. That state-
ment appears on an Entry
Query Form dated September
22, 2010.

“We understand the normal
process is that where your
Department refuses to clear or
permit an importer to clear
goods, this entry form is pro-
duced, stating the reason for
your Department’s refusal to
permit clearance.

“With respect to the two
remaining containers we under-
stand that even more arbitrari-
ly, your Department has sim-
ply refused to accept delivery of
the appropriate documents
from our client’s customs bro-
kers attempting to clear the
goods contained in those two
containers.”

And Mr Smith warned: “We
have advised our client that this
subsequent refusal by your
Department to clear the six
containers upon the basis that
our client has not supplied
‘Bonded sales in January-
August’ is unlawful. Further,
your Department’s complete
refusal to deal at all with the
other two containers is also
unlawful.

“In the premises, you are in
possession of our client’s goods
and have no lawful authority
to detain the same.

“For the avoidance of any
doubt, we hereby require you
to surrender our client’s goods,
comprising the eight contain-
ers of goods referred to above,
up to them forthwith.

“Your refusal to comply with
this demand within a reason-
able time will result in the con-
version of our client’s goods for
which damages will be sought.

“Be advised that our client
relies heavily on the regular
importation and quick clear-
ance of goods required to con-
duct its business in Freeport,
so your Department’s continu-
ing detention of its goods is
likely to result in loss of profit
to our client.

“Further, certain of the
goods are susceptible to water
and other damages, and if such
goods are damaged by the
delay in returning them to our
client then their value will be
claimed for in full.”

Warning that Kelly’s
(Freeport’s) business had been
placed “in jeopardy”, and that it
had already suffered financial
losses, Mr Smith demanded
that the trailers be cleared and
the necessary paperwork for
their release accepted, with no
conditions, such as a ‘bonded
good sales report’, attached.
























































































































fear on financial
fraudster justice

FROM page 1B

the Bahamas and its financial services industry “had to be
concerned” about the message being sent to clients/foreign
investors when it came to holding financial criminals and
wrongdoers to account for their actions.

And he argued that Bahamian financial services regulators
needed to take a more proactive approach and deal with
problems as early as possible wherever they arose, detecting
warning signs before situations got out of hand and became
impossible to rectify.

“The regulatory oversight, in many instances, seems to be
more reactive than proactive, and not always efficient in
detecting when it should fraudulent activity or wrongdoing
that ultimately leads to the collapse of investment funds,
banks or some other entity,” Mr Moree told Tribune Busi-
ness.

He declined to cite specific situations, but one where the
“writing was on the wall” from at least 2005-2006, prior to its
eventual placement into Supreme Court-supervised liqui-
dation in early 2009, was CLICO (Bahamas).

The sector regulator, the then-Registrar of Insurance,
had been aware that CLICO (Bahamas) had been moving
substantial funds (eventually totalling $73 million) out of the
Bahamas for investment in Florida-based real estate projects
since 2003-2004, and this newspaper since 2007 had been rais-
ing questions about the company’s financial health, partic-
ularly why there was such a large concentration of its assets
in a single, illiquid development.

Yet no regulatory action to protect policyholders and
creditors was taken until CLICO (Bahamas) problems, and
those of its Trinidadian parent, CL Financial, had become so
terminal that they were impossible to correct.

Meanwhile, Mr Moree added: “Once the collapse occurs,
we’ve not always been very good at bringing wrongdoers to
account in a way that protects the overall integrity of the
industry, so that the message goes out that if you’re involved
in fraudulent activity in the Bahamas, you run the real risk
of being caught and brought to justice, rather than the
Bahamas being seen as the “Wild Wild West’, where if these
failures happen you can run off to other countries and noth-
ing happens to you.

“The point is: How does the jurisdiction deal with the
failure from the point of view of bringing wrongdoers to
account, and how efficient is the court system and regulatory
structures in offering the highest level of protection to
investors in getting back their money?”

It was here, Mr Moree said, that the “reputational risk” lay
for the Bahamas. Financial collapses and frauds took place
throughout the world, he noted, even in the US, UK, Cana-
da and major G-7 countries, but the key was what hap-
pened post-collapse and whether this nation was doing
enough to give comfort to foreign investors/clients that
their interests would be sufficiently protected and looked
after.

The leading QC added: “That is something we have to
take a look at - the regulators, the white collar crime pros-
ecutors, and the directors of the police force responsible for
commercial crime.

Record

“Tt seems to me that that they all have to look at their
record for bringing people responsible for white collar
crime, domestically and through cross-border activities, to
justice.”

Strong action, Mr Moree emphasised, would “act as a
deterrent to those prepared to perpetrate fraud through
activities and operations in the Bahamas.

“We’ve got to demonstrate through actions and regulatory
structures that if you rip off investors in the Bahamas, you
will be brought to justice and held accountable for your
conduct. That is a very important aspect to maintaining our
reputation as a first-tier international financial centre. It is
only in that environment investors feel comfortable in
Bahamian entities.

“Tt’s easy to say that we have integrity, and the financial
services industry is first-class and well-regulated, but we
have got to demonstrate that is indeed the case when some-
thing happens.”

One such example was the $25 million collapse of former
broker/dealer Caledonia Corporate Management that the
resulting fall-out, which has been covered extensively by Tri-
bune Business.

This newspaper has regularly been contacted, via phone
and e-mail, by Caledonia clients questioning what action the
Securities Commission of the Bahamas will take in rela-
tion to the collapse, and whether it actually has any regula-
tory enforcement teeth.

Caledonia’s $25 million collapse resulted from allowing a
now-convicted fraudster to trade on margin as part of a
‘Pump and ‘Dump’ stock manipulation, using other clients’
assets - without their knowledge - as collateral for his activ-
ities. When the margin became unsustainable, the Canadi-
an correspondent broker sold off innocent clients’ assets
to cover the hole, something that has been admitted by a for-
mer senior Caledonia executive in sworn testimony.

Yet the Securities Commission, at least publicly, appears
to have taken no action in more than two years against the
principals at Caledonia.

The Bahamas has also had to deal with its fair share of
investment fund implosions over the past decade, such as the
collapse of the Olympus Univest fund and potential loss to
investors of an estimated Cdn$440 million.

The Securities Commission began investigating the fund’s
Canadian manager, Norshield, in 2004, but it is not known
whether any enforcement action was taken. The collapse also
appeared to play a major role in the closure of Bahamian
fund administrator Cardinal International, although the
company denied any wrongdoing and no findings have been
made against it so far by the liquidators.

| thurstlay
Ce mR ed

a

eS

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



THE TRIBUNE

FRIDAY, OCTOBER 1, 2010, PAGE 3B





Kerzner:
No Phase

IV till Baha
Mar end

FROM page1B

opment, and will therefore
await the finalisation of the
$2.6 billion Baha Mar devel-
opment that promises a fur-
ther 3,500 rooms.

“We can’t over-saturate the
market,” said Mr Markanto-
nis.

He said that Atlantis, which
has not had any lay-offs since
2008, continues to focus on
cost-cutting initiatives and
energy conservation.

“It’s an ongoing process for
us,” he said “We have a won-
derful and positive workforce
that cooperates constantly as
we focus on utility costs, oper-
ating hours and so on and so
forth.”

Mr Markantonis said
Atlantis was expecting a bet-
ter year oin 2011 and will
“budget as such”.

Stall

The Government was this
week forced to stall its
planned House of Assembly
debate while awaiting word
on the status of Baha Mar’s
outstanding ScotiaBank loan.

Prime Minister, Hubert
Ingraham held a candid press
conference on Wednesday,
where he revealed that he
postponed a planned debate
in the House of Assembly
over Baha Mar’s proposed
8,000 Chinese work force until
the development completes
its outstanding $200 million
loan negotiations. The devel-
opment will only receive the
$2.45 billion loan commitment
from the China Export-
Import Bank, when its Sco-
tiaBank commitment has
been settled.

Mr Ingraham also said that
in 1997, the Government
signed a deal with Kerzner
International that prohibits it
from giving any other devel-
oper a better deal. That posi-
tion was strengthened in 2003
by a clause negotiated during
Atlantis’ Phase III develop-
ment.

“The Bahamas govern-
ment committed itself in the
agreement with Kerzner
International that no one will
get a better deal for a devel-
opment than they got. That
was in 1997. In 2003, that was
strengthened by the Govern-
ment when they did the Phase
Three. That is called the Most
Favoured Nation clause,” said
Mr Ingraham.

“Tf, therefore, the Bahamas
government agrees to 5,000
Chinese workers building the
resort on Cable Beach, at
some subsequent time in the
Bahamas, Kerzner will have
the entitlement to come and
ask for the same deal, and the
Government will be bound to
give him the same deal. So
these are all matters that need
to be considered up front.”

Restaurant Mana

Baha Mar pledges start
‘in a few short months’

By NEIL HARTNELL
Tribune Business Editor

Baha Mar’s principal has
pledged that construction
work and ground breaking
for the $2.6 billion project
will take place in “a few
short months”, even as talks
on finalising a sharcholders
agreement to resolve its out-
standing $200 million Sco-
tiabank loan continue.

Speaking in New York as
part of an occasion to cele-
brate the 25th anniversary
of its equity and construc-
tion partner, China State
Construction’s, presence in
the US, Sarkis Izmirlian,
Baha Mar’s chairman and
chief executive, said: “In a
few short months, the con-
struction of Baha Mar will
begin and we will be break-
ing ground on the famed
Cable Beach.”

Tribune Business reported
yesterday that Baha Mar
and Scotiabank had deter-
mined the amount of cash
the developer would pay
upfront, and the size of the
equity stake the bank will
take in the $2.6 billion Cable
Beach redevelopment, hav-
ing decided on the figures
involved in their debt-for-
equity swap.

They are now wrestling
over the terms of a Share-
holders Agreement that
would govern their relation-
ship and the terms of Sco-
tiabank’s equity participa-
tion in the Cable Beach pro-
ject.

This was effectively con-
firmed in a late Baha Mar
statement on Wednesday,
which said agreement had
been reached on “the broad
parameters of an appropri-
ate settlement” with Scotia-
bank and the lending syndi-
cate. The relevant docu-
ments were now being



MAJOR PLAN: The original rendering of the Baha Mar aeveloonieil

drawn up and finalised.

“The Cable Beach loan
settlement is the last mater-
ial financing piece related to
the Baha Mar project, and it
is now in the process of
being resolved,” Mr Izmir-
lian said then.

Approached

In his address at the China
State Construction event,
Mr Izmirlian said he and his
family were approached by
the then-Christie govern-
ment to consider re-devel-
oping Cable Beach, and
admitted they themselves
were initially sceptical.

“My family and I have a
vision for the country of the
Bahamas, and its huge
potential for tourism,” Mr
Izmirlian said. “We were
approached by the Bahami-
an government to consider
redeveloping a beautiful
area of Nassau called Cable
Beach......... Cable Beach had
been the original leading
tourism area of Nassau for
many years, but over recent
years had become sadly
neglected.

“The Bahamian govern-
ment wanted to restore this
area to its former glory and
asked us if we would be
interested in the revitalisa-
tion of this important land-
mark destination.

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“At first, my family and I
were somewhat sceptical
that such an undertaking
was something we wanted
to get involved in, but as we
started to evaluate the beau-
ty of the site and to look at
the potential of creating
something truly magnificent,











we increasingly became
inspired by what could be
achieved.”

Withdrew

After Harrah’s withdrew
as a 43 per cent equity part-
ner in the development, Mr
Izmirlian said Baha Mar
spoke to many international
construction companies,
looking for a contractor
partner.

“We quickly realized that
only a handful truly ‘got it’
and were as inspired about
the possibility of creating
this project as we were.
Most other companies
focused more on the diffi-
culties rather than the
opportunities, focusing on

obstacles rather than the
bigger strategic picture this
compelling opportunity pre-
sented its multiple stake-
holders,” Mr Izmirlian said.

“Tt became quickly appar-
ent during the selection
process that one organiza-
tion stood out above all the
others, China State Con-
struction and Engineering
Corporation.

“This is because they saw
Baha Mar for what it is: a
unique world-class resort
that they could build, and in
the process, showcase to the
world China State’s ability
to deliver an intricately
designed, and complex,
resort metropolis on a some-
what remote island in the
Caribbean.”

The Aqghcan Central Educalion Authority ivike applicahors on qualied individwals lor the positon of Deputy Direcbor of




Education for Curriculum and Supervision.

Thy Deputy Director of Edecation for Gericguet ae) Superisinn val play an eeeeniial pole in the implererralion anal
dGevelopment of cumiquiem 25 well a5: peotessional development of ipachers. The Deputy Director ell be responsitte for ihe
succnestl dangn, development, and implameniaion of curicuiuen, working with eechers, parents, community members and
other staf io anolyne, assess, and improve educaonal programs.









Hay Raaponaihilitien:

= Cumoulum Development -worts wth feachers aed staff to ensure cumoulum 6 abgned with National Leaming
Standards and is achieving the System's goals. Rewiews curment curiculum and pacommends changes based on
performance data. Demonsiraies a sirong reap of educational technology applications

Perfomance Evaluation - sets hgh and messersble goals for student achievement and ewalugies student
progress in the instructional program by mans thal include the mainiaining of up-lodale student data.
Supervises and appraises the parfonmancon of the schools’ faculty
Orgenizetioral Eficiency - maintains inter-school sysiem communication. Maintains good relationships with
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Mer Teacher Induction - ofenis and aesish new sla eaniters and proses oppoctuniies ler their input in the












schecle’ progres,

Professional Dewolopment » leads the educajon and cancer development initabves for the facuky and staff of the
schools and works with Principals to assess the needs of faculty. Fiesponsible for benchmarking educaton and
career dewelepeen| bea! preaches








‘Community -

encourages the use of community resources, cooperates with the community in the useof school

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Required Skills and Experience:

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Ability to build partnerships with community organiaons
Conmiiman in technological adhwancemant

Familiarity with various atucalicnal rresdale

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Song communication skils

An enbepreneurial spit and a proves inack record
























ee cree eee

Education Requircenents:

® MMashers degres prefered in education, busingss or related feids from an accredited collage/un versity
= Acselited Tagching Corificate

Letters. of Appboalion submitted with copies of Degree Certiicaies, Ceroulum Viaa, threa eoferenons, and the passport photos,
mie be eubritied lo: The Director of Anglican Edecation, Anglican Central Education Authority,
P.O, Boo M658, Nagoau, The Bohees

The deadline for Appiications is Thursday, October FO ATG,

Ministry of the Environment
Department of Environmental Health Services

NOTICE

The owner(s} of a Heavy Duty Trock, registration number M 1354 parked and hindering
the entrance to Sunderland Park, situated at Sunderland Road, Stapledon Gardens
Subdivision, is asked to remove the same within 7 days from the publication of this
notion,

The awner(s} are hereby advised that failure to remove the said vehicle will result in the
gid vehicle being nemoved by the Department of Environmental Health Services.

Shen
Director
DEHS



PAGE 4B, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE





PI timeshare 97% sold-out

FROM page 1B

that typically sustained the resort,
and drove total room nights more
than leisure bookings, declined dras-
tically over the past two years, but
could stage a return in 2012.

“We are seeing a lot of groups in
smaller numbers,” he said. “In gen-
eral, groups who visit are normally
going to be incentive groups, while
corporate business meetings have
been largely curtailed.”

Mr Markantonis added that the
Reef, Atlantis’ condo-tel, had shown
the greatest increase in occupancy

this year, while its high-end One and
Only Ocean Club and Harbourside
timeshare units have remained suc-
cessful throughout 2010.

He said the resort’s multi-million
dollar marketing campaign, in con-
junction with the public/private
Companion airfare promotion, have
driven significant business for
Atlantis this year.

The hotel, for the first time, did
not close its Beach Tower for the
typically slower August and Sep-
tember months.

“In our case, the fall season is
going ahead slightly better than last

DISCONNECTION
NOTICE

The Bahamas Electricity

Corporation wishes to advise the

public that it has commenced

nationwide electricity service
disconnections of ALL accounts

with overdue balances.

This

includes the accounts of customers
who have payment arrangements

with BEC but are not honoring their

commitments.

The public is also advised that
payments can be made directly to

the Corporation's payment centres

in New Providence and the Family

Islands or at any major banking

year,” said Mr Markantonis. “We
didn’t want to create the self-fulfill-
ing prophecy [of the slow fall sea-
son by closing the tower]. There is
business out there, it’s just to find
it.”

Occupancy

According to him, Atlantis at
year-end will finish on occupancy
several points above what was
achieved the year before.

There are signs that the hospitali-
ty industry is picking up in the US,
and there is encouragement for

Atlantis that next year will outpace
2010, Mr Markantonis suggested.

“Next year is considerably ahead
of what it was at the same time last
year for this year,” he said.

The resort has also been working
on some major sports tourism ini-
tiatives that are expected to be
revealed within the next two months.
Mr Markantonis said this niche
tourism product could have an initial
10-year life.

He said the resort will also con-
tinue to capitalise on its A-list con-
cert series that helps to drive room
bookings and some revenues

through ticket sales.

“We have a very solid core of
Bahamian fans,” said Mr Markan-
tonis.

“Naturally the audience changes
depending on the concert, but we
do not really make money from con-
cert attendance as much as from
people who fly in and book a hotel
room to enjoy the concert or play
in our casino.”

“We have been very pleased with
the success of the programme, and
delighted to add another element of
entertainment for the local popu-
lace.”

‘Desperate men do desperate things’



FROM page 1B

supposedly behind a purported "sham audit
designed to wipe out" their $5 million personal
investment and equity position, hedge fund Plain-
field Asset Management said in a statement sent
to Tribune Business: “Mr. Stein's latest allega-
tions are just outright lies, which is what we have
come to expect from him.”

In the latest round of
the protracted battle for
control at the 375-acre
southwest New Provi-
dence South Ocean pro-
ject, Mr Stein and RHS
Ventures are urging the
New York State Supreme
Court to overturn the
arbitration award that
removes them as general
partner, and installs
Plainfield Asset Manage-
ment in their place, on
the grounds that new evi-
dence has come to light
since the August 5 hear-
ing on the issue.

In their motion and
supporting affidavits, Mr Stein and RHS Ven-
tures are alleging that Plainfield falsely informed
them that a Nev Harizman, who purportedly
ordered the audit at the heart of the dispute,
would be unable to testify during the American
Arbitration Association hearing, even though
he was in the US.

Expressing concerns about the conduct of Mr
Stein, and a private investigator hired by him,
Rob Seiden, the hedge fund said of the claim:
“Mr Harizman was made available to testify by
telephone, but Stein's lawyers decided not to do
so.”

ROGER STEIN

As for Mr Stein’s claims that another former
Plainfield employee, who was RHS Ventures’
main contact point in their South Ocean dealings,
was "coerced" into signing a ‘false affidavit’
claiming that Mr Stein ‘misappropriated’ part-
nership funds because the hedge fund was threat-
ening to withdraw his severance pay and health
insurance benefits, the hedge fund again said
this was simply not true.

It added: “No one coerced Mr Reehl, who was
represented by his own lawyer, to sign a sworn
affidavit or testify. Stein's lawyers had ample
opportunity to cross examine Mr Reehl during
the arbitration, and are raising these issues now

to obtain yet another delay.”

An affidavit from the attorneys for Mr Stein
and RHS Ventures, which was filed in the New
York courts in the past week, alleged that they
had wanted to examine Harizman during the
arbitration hearing on several issues, including
what was purported to be a Plainfield conspiracy
to remove the general partner.

They alleged that Harizman's e-mails showed
"he was attempting to bring other developers
into the partnership to take over for Stein with-
out Stein's knowledge", and that Plainfield was
attempting to take complete control over South
Ocean.

Mr Stein's attorneys also alleged that Plainfield
analysed the benefits of removing him as gener-
al partner in a memo produced eight days before
the September 15, 2008, audit was called for, and
that the hedge fund had held discussions on the
issue seven weeks before that date.

"He [Harizman] was also at the centre of
efforts to negotiate with a third-party lender the
restructuring of the entire real estate property at
issue in the partnership to the exclusion of RHS
Ventures which was, at the time, still general
partner,” Mr Stein alleged.

"In fact, weeks before Harizman even ordered
the audit, he wrote numerous e-mails to other
individuals within Plainfield Asset Management
discussing the removal of respondents as gener-
al partner, as well as taking over the entire devel-
opment from respondents."

There were also allegations that Plainfield and
Mr Harizman discussed the restructuring of the
South Ocean with the third player in the resort
project, the Canadian Commercial Workers
Industry Pension Plan (CCWIPP), which in
recent times has been unsuccessfully trying to
foreclose on the property, claiming there has
been a default in repaying the $102 million owed
to it.

And Mr Stein also alleged that a former Plain-
field managing director Eric Reehl, had told him
on August 13, 2010, that he signed an important
affidavit "under significant duress and coercion"
from the hedge fund, which had purportedly
threatened to withhold his health insurance ben-
efits and severance pay.

Mr Stein alleged that the Reehl affidavit was a
key factor in the arbitration hearings, and relied
on heavily by the panel in its decision, as it was
used by Plainfield to back up allegations that
RHS Ventures had “misappropriated and con-
verted for personal use funds intended to be
used in furtherance” of the South Ocean pro-
ject.

institution (either online or over the
counter).

Please call FROM page 1B

Tel.: 302-1000 i

a LDV Ltd and Mr Hayward
for any queries would have been allowed to
keep La Dolce Vita and the
Pub at Port Lucaya, with a
commitment to invest
$250,000 to complete the lat-
ter’s renovation, but the deal
stalled, partly because the

Port Group wanted an up-

View your electricity account online at
www.bahamaselectricity.com



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front cash payment, it is
understood.

Mr Hayward, who said he
had injected $1 million into
the businesses over the past
three years, told Tribune
Business that despite the evic-
tion he remained confident in
Freeport and the Bahamas,
and wanted to continue in
business in this nation.

“T’m a great believer in
Freeport, Grand Bahama and
this country, and I would cer-
tainly like to carry on doing
business, but not in the pre-
sent environment,” he told
this newspaper. “I am here,
I’m Bahamian and I love it
here. My grandfather came
here in 1955 with Wallace
Groves, and I’m not running
away. All my children are
Bahamian. This is home.”

Mr Hayward said the root
of the dispute between him-
self and Port Group Ltd was
an alleged unfair rental
increase between 2004-2007,
when lease payments doubled
without explanation. He
added that he had been trying
to renegotiate the rental pay-
ments, and was prepared to
pay a ‘fair rent’, but without
success.

“When we opened the
Pusser’s Pub and Company
Store in Port Lucaya Market-
place during March 1988, we
were the anchor tenant,
largest employer and, up until
now, the longest serving ten-
ant”, Mr Hayward said in a
statement.

“We have had a good long
run, and history will speak for
itself. The past three years has
been a struggle, even though I
recently injected in excess of
$1 million into the business.
My family will not continue
to back me financially, and at
this point, I have to consider
them and acknowledge that
they have also been negative-
ly impacted with all that has
transpired over these past few

78 jobs lost as Sir Jack evicts son

years.

“Tam confident that things
will improve in Freeport . I
took a risk and opened the
East restaurant in May 2008,
as I firmly believed that
there’s a niche for the cuisine
we offered. At this time, how-
ever, I cannot afford to con-
tinue to throw good money
after bad. After making every
reasonable effort to do so, I
have been unsuccessful in
bringing the rental issue with
the landlord and the powers
that be to a satisfactory con-
clusion. As you know, we are
and have been at a stale-mat-
ed position for far too long
now.

Challenging

“Tt has been an extremely
challenging time, and in a sit-
uation where the deck of
cards is stacked against you,
we find ourselves in a lose-
lose situation — the staff, the
creditors and me”, said Mr
Hayward. “This is a very sad
day for us all. Hopefully, the
Port Group Ltd will be able to
find a new tenant who can
afford the exorbitant rent. I
wish them well.”

In a brief statement last
night, Port Group Ltd said:
“Based on a Supreme Court
Order, dated 22 June 2010,
issued by Justice Estelle Gray-
Evans, LDV Ltd was required
to deliver up possession of all
of its buildings in the Port
Lucaya Marketplace, namely
East Restaurant, Pusser's and
La Dolce Vita, on or before
30 September, 2010. In com-
pliance with the Order, the
premises were vacated today.

“All existing and future
debts, obligations, and liabili-
ties, whatsoever, remain the
sole and full responsibility of
LDV Limited and its princi-

pal(s).”

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



THE TRIBUNE

FRIDAY, OCTOBER 1, 2010, PAGE 5B



INTERNATIONAL BUSINESS



French music industry
reaches deal with YouTube

PARIS

Songwriters and composers will
get paid when their videos are
seen on YouTube in France,
under a deal announced Thurs-
day by the online video sharing
site and France's leading music
industry group, according to Asso-
ciated Press.

The industry group SACEM
called the deal difficult to reach
but innovative, and a victory in its
efforts to protect copyright and
make money online.

YouTube's owner, Google Inc.,
has faced lawsuits in France over
use of copyrighted content online,
and criticism from the entertain-

INTERNATIONAL
BUSINESS

ment industry and the French gov-
ernment. The agreement means songwriters, composers and music :
publishers "will be paid for the distribution of their works on }
YouTube," according to a statement by YouTube and industry }

group SACEM.

musical works. The deal will be in effect through 2012.

SACEM President Bernard Miyet said.

Sarkozy to invest more in France.

Murphy and Timbers in Boston.



Stocks sizzled in third

i DAVE CARPENTER,

And investors started looking

quarter, but will it last?

: AP Business Writer

When you open your quar-

terly financial statements in the
i next few weeks, you might be
: both pleased and puzzled.

Despite the economic dol-

: drums, the stock market put

? together a sizzling 11 percent

return over the past three
months, including its best Sep-

? tember since 1939. For a time

: Thursday, the Dow Jones
? industrial average for a time

comes a few weeks after a German court ruled that YouTube :

right laws.

Novartis fined $422.5 in marketing, kickback case

KATHY MATHESON,
Associated Press Writer
PHILADELPHIA

cials announced Thursday.

totaling $185 million for the off-label promotion of Trileptal, } pews, while not great, was at

U.S. Attorney Zane Memeger said at news conference in } Jeast enough to dispel fears of a

Philadelphia.
Novartis will also pay $237.5 million to resolve civil liabilities
over off-label marketing of Trileptal and for paying kickbacks

er drugs.

i appeared headed for 11,000.

But the gains are deceptive,
market analysts say. While

? news about the economy has

The statement did not say how they would be paid, or how proved, ee Snorer e
: i believe it's roaring back. And

much. The deal affects any music managed by SACEM, a group : the bin ad Aaa
that has 132,000 members and copyright to more than 40 million } ioe Rgueningee ieloamabeate ae:
? relatively small number of

The deal also covers "Anglo-American repertoires from multi- pe Pplayine witha toro)
national publishers" broadcast in France. The statement did not ; y-

elaborate. "This deal shows again SACEM's will to favor legaluse i. ded optimism.” Rob
of works on the Internet, in particular on video sharing sites," ! roa see Siemans io: ani
: Arnott, chairman of Research

Google has sought to improve relations in France, and CEO Eric a oo yes

Schmidt promised at a meeting last month with President Nicolas } :
? headwinds we face are pretty

"The deal represents another milestone in the transformation of daunting.

YouTube from an anarchic presence on the Internet before its |. ~. peer
wort : ‘ : ing it the beginning of the next
acquisition by Google to a more mainstream public source for } failieneneer — anon «ithe Gaein.
video content," said Bruce Sunstein, of law firm Sunstein Kann : .
: ployment still near 10 percent

"It is inevitable that if YouTube seeks to become a universal ‘on eee ease wane
source for video content ... YouTube must make deals with the } cane 8
owners of copyright in that content," he said. The announcement } oe.

"T think a lot of this is just

in Newport Beach, Calif. "The

In other words, few are call-

Still, the gains were impres-

must pay compensation after users uploaded several videos of See eee deca ay cai
performances by singer Sarah Brightman in violation of copy- } rose 9 percent, the Dow almost

? 8 percent and the Nasdaq com-
i posite index more than 12 per-
i cent. Every sector of the mar-
? ket was up.

September is usually the

: market's worst month. This
: time, it was the third-best

Novartis Pharmaceuticals Corp. will plead guilty to charges a pos rece aoa
it marketed an epilepsy medicine for unapproved uses and ; 5993 i A 000 h
$422.5 million in civil and criminal penalties, federal offi- i on pr sites
pay ? i stocks were bouncing back

oe . i fi Itd :
The company agreed to pay a criminal fine and forfeiture } Se

So why the rally? Economic

i so-called double-dip recession.
i The Federal Reserve indicated
i it was closer to taking new
to doctors in an effort to get them to prescribe that and five oth- }
i recovery along.

action to help the economic

Bahamas Agricultural & Industrial Corporation (BAIC)

Presents
Its

SISAL CRAFT TRAINING PROGRAM

—

Date: October 4-15, 2010
Venue: C.V. Bethel Sr, School

Application Form

Name: PQ. Box:

Address: Email:

Tel: Fax:

Time: 6:00 - 10:00 p.m. (Daily)
Location: East Street, South

Age range: Junder 15 [16-25 126-40 141-60 161-70 | 71 and over

Employment Status:. Employed . Government | Private
| Unemployed

Have you completed Previous Training Courses by BAIC? | Yes

List: Date(s):

| Self-employed

| No

ADMINISTRATIVE FEE: $100.00 (EXCLUDING MATERIALS)

BE RRE RECAP PERERA PETRA RRC

Contact: Handicraft Development/Marketing Department

Sharae Collie/Pam Deveaux Tel: 322-3740-1

Fax: $22-2123/328-6542

past the November midterm
elections and concluding that
likely Republican pickups in
Congress mean that tax increas-
es are less likely.

The quarter got off to an
inauspicious start. On the very
first day of July, stocks dipped
to what remains their low point
of 2010: 1,011 for the S&P 500
index and 9,596 for the Dow in
intraday trading.

After rebounding to finish
July up 7 percent, the market
limped through August.

The S&P 500 fell nearly 5
percent, and the major indexes
wiped out any gains for the
year. Besides the tough job
market, home sales were mis-
erable and Americans were
being cautious with their spend-
ing.



os ,
(AP Photo/Richard Drew)
UPSWING: Traders gather at a post on the floor of the New York Stock
Exchange Thursday, Sept. 30, 2010. Despite the economic doldrums,
the stock market put together an 11 percent upswing over the past
three months. The increase came largely from a September gain
that was the biggest since 1939 and made for the second-best
month, period, in a decade.

VACANCY

RE: POSITION

A leeal company is currently seeking applications for the position of Chief Financial Officer
(CPO),

The CFO will oversee accounting, financial analysis, risk management, the objective and
analytical measurement of company performance, back-office operations, administration
and collaborate with the CEO to develop various recommendations for Increasing
profitability and return on assets.

Interested candidates must have a Bachelor's degree in accounting, finance or business
administration. CPA/CMA andor MBA strongly preferred with extensive accounting, finance

background.

Outstanding salary, benefits and Incentives offered.

Interested candidates should forward thelr resumes to

executive chieffinanciala fice gmail.com



EMPLOYMENT OPPORTUNITY
CHIEF RISK OFFICER

Job Summary

A financial Services company is seeking to fill the position of Chief Risk Officer.
Reporting directly to the Board of Directors, the ideal candidate will have responsibility for overseeing
the risk management framework of the company.

Key Responsibilities

Implement appropriate and effective risk derbtication practices

Design, conduct and facilitate risk review workshops, surveys and post-event invest gation.
Create proposals for mitigation activities and potential changes to control environment,
Undertake quantitative and qualitative risk assessment including grass and residual probability

and impact assessments.

Implement and update appropriate Compliance, AML, and Risk Management Information

Systems.

Create and maintain risk register for the Compariy

Undertake forecasting amd analysis of emerging risks,

Canry out testing af business recovery planning and crisis management arrangements.
Oversee and facilitate the training of staff in Compliance, AML and risk analysis practices.
Implement a risk monitoring program to identify risk and breaches in controls and procedures.
Provide guidance on the praper application and interpretation of laws, regulations and policies
aoplicable to the institution.

Qualfications and Experience

3-5 years full-time experience in auditing, accounting, statistical analysis or related field;
Bachelor's Degree rom an acoredited college or university;

Graduate degree in Statistics, Economics, Accounting, Business Adrninistration or related field:
Professional designation in Ant-Money Laundering, Risk Management and/or Compliance:
Proven ability ta analyze ane interpret quantitative and qualitative data:

Ability to create, implement, monitor and make recommendations for improvement to risk

culture;

Highest level of integrity, objectivity, and confidentiality in the execution of duties;
Knowledge of relevant Bahamian laws, regulations, quidance notes, and best practices;
Exceptional mathematical and computer skills:

Excellent oral, analytical, interpersonal and written communication skills:

Ability to multitask:

Focused, driven and results orientated;
Strategic thinking and statistical planning skills.

Qualified applicants should send their resume and cover
letter via email to: Attention: Chief Risk Officer Position
dhrresumes@gmail.com



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



PAGE 6B, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE





Judge OKs §



INTERNATIONAL BUSINESS

139M court

sale of Philly newspapers

MARYCLAIRE DALE,
Associated Press Writer
PHILADELPHIA

A judge quietly approved
the bankruptcy sale of Philadel-
phia's two largest newspapers
to creditors on Thursday, near-
ly closing a bitter and often
chaotic 20-month battle for con-
trol of the company, according
to Associated Press.

The sale of The Philadelphia
Inquirer and Philadelphia Dai-
ly News is valued at about $139
million, including $105 million
cash and the iconic newspaper
building.

The senior lenders are essen-



=

—

oo
=
a
wr

AIONAL

























LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
Agua Investment Fund Ltd.

Notice is hereby given in accordance with Section 138
(8) of the International Business Companies Act, No. 45
of 2000, the Dissolution of Agua Investment Fund Ltd.
(IBC No. 149931 B) has been completed, a Certificate
of Dissolution has been issued and the Company has
therefore been struck off the Register of companies. The
date of completion of the dissolution was the 31% day of
August, 2010.

Alrena Moxey
Liquidator

Employment Opportunity

Party Coordinator

Primary Duties:

* Promote, manage and coordinate Birthday Parties

* Communicate with parents and others booking
parties and group events

Qualifications:

The successful candidate must:
Be pleasant and friendly,
Enjoy interacting with children,
Have excellent written and oral communication
skills,
Be computer liberate, especially with email,
internet and Microsoft Office toals,
Be able to multi-task, work with minimum
supervision and possess a high level of integrity
and professbonalisim,

Fax application/resume to 394-4938 by Oct, 9 2010

ROYAL FIDELITY

Arid an WA

tially paying themselves. All of
the approximately 30 banks and
hedge funds holding the com-
pany's secured debt will now
retain ownership stakes, includ-
ing the hedge fund Angelo
Gordon and Citizens Bank.

Creditors plan to close the
sale by Oct. 8. They could close
sooner if they can negotiate
contract terms with holdout dri-
vers, who derailed the sched-
uled sale last month.

"We look forward to oper-
ating the company out of bank-
ruptcy, revitalizing the Inquirer
and Daily News, and building
the most successful regional
portal in the country," said
incoming Publisher Greg
Osberg, referencing the com-
pany's Philly.com website.

The confirmation hearing
had an air of anticlimax, and
exhaustion, after months of
high-stakes legal maneuvering
and two auctions to determine

Matt Rourke/AP Photo

Dave Sexton sells newspapers outside the Philadelphia Inquirer
and Philadelphia Daily News building, left, in Philadelphia.

the next owner. Creditors won
them both, outbidding 93-year-
old business mogul Raymond
Perelman and others. Perelman
helped push the bidding past
$100 million cash both in April
and, when that deal fell
through, in the second auction
on Sept. 23. But the philan-
thropic city booster said he
could not rationally pay more
for the newspaper company,
given the industry uncertainty.

A group of local investors led
by public relations executive
Brian Tierney and luxury
homebuilder Bruce Toll had

NOTICE

NOTICE is hereby given that WISLET BELIZAIRE of 863 Flat
Shoals Rd Conyers, Ga 30094, is applying to the Minister
responsible for Nationality and Citizenship, for registration/

naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/naturalization
should not be granted, should send a written and signed
statement of the facts within twenty-eight days from the 24%
day of September, 2010 to the Minister responsible for
nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

LYNDEN PINDLING INTERNATIONAL AIRPORT
IMPOSTION/VARIATION OF FEES AND CHARGES



borrowed heavily to finance
their $515 million purchase of
the company in 2006. They filed
for bankruptcy three years lat-
er. Months of emotionally
charged showdowns with cred-
itors ensued, as the two sides
battled over auction rules,
union support, Tierney's "Keep
it Local" campaign and slights
real and perceived.

But the creditors outlasted
the challenges. And the always-
colorful Tierney has moved on,
spending much of the past few
months in Europe, working on
his next venture.

The creditors have dubbed
their company Philadelphia
Media Network, and plan to
cut costs by 13 percent across
the board. Newsroom employ-
ees have agreed to 6 percent
pay cuts that include two-week
furloughs, but will be spared
layoffs for at least a year.

Osberg hopes to re-energize
the website and better coordi-
nate print and online opera-
tions. The Philly.com site is cur-
rently run by about 20 people
who work in a different build-
ing. That setup will end, he
said.

Itis hereby notified pursuant to regulation 4(10}(b) of the Airport Authority
(Amendment) Regulations, 2009 that the Airport Authority at a meeting on the 17th
day of September, 2009 imposed and or varied fees and charges at the Lynden
Pindling International Ainpart as follows:

Aeronautical Fees

a) Landing Fees Increase 10.0%

b) Terminal Fees increase 3.0%
c} Aircraft Loading Bridge Fees increase 3.0%
d) Aircraft Parking Fees increase 3.0%

Passenger Facility Charges
ajlnternational Passenger Facility Charge increase 51,50

Passenger Processing Fee

a) International Passenger Processing Fee increase $600

It is further notified that the said imposition and or variation of Fees and Charges shall
take effect at the Lynden Pindling Intemational Airport ninety days from the date of
first publication of this notice

Tu Zz

ee ee Fe ee ee oe

Ce a a Dc FS a a a

SE

cr AL

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 30 SEPTEMBER 2010
BISX ALL SHARE INDEX: CLOSE 1,516.77 | CHG -0.01 | %CHG 0.00 | YTD -48.61 | YTD %-3.11
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

52wk-Low Securit_y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital
Famguard

Finco

FirstCaribbean Bank
Focol (S)

Focol Class B Preference
ICD Utilities

J. S. Johnson

Premier Real Estate

1.01
10.63
4.90
0.18
3.15
2.17
10.77
2.50
6.60
1.90
1.90
6.07
8.50
9.74
5.46
1.00
5.59
9.92
10.00

Previous Close Today's Close

Change Daily Vol.
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

-0.01
0.00

1.01
10.63
4.90
0.18
3.15
2.17
10.77
2.50
6.60
1.89
1.90
6.07
8.50
9.74
5.46
1.00
5.59
9.92
10.00

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

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

Symbol

BAH29
FBB17

Securi
Bahamas Note 6.95 (2029)

Fidelity Bank Note 17 (Series A) +
Fidelity Bank Note 22 (Series B) +
Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

FBB22
FBB13
FBB15

Last Sale

Change Daily Vol.
0.00
0.00
0.00
0.00

0.00

99.46
100.00
100.00
100.00
100.00

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

Symbol
Bahamas Supermarkets
RND Holdings

Bid &
5.01
0.35

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

ABDAB
RND Holdings

30.13
0.45

Ask & Last Proce

Daily Wo.

“WEG
sy

CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

EPS $

cla Teco FT A TL

Div $
0.250
0.013
0.598

-0.877

0.168
0.016
1.212
0.781
0.422
0.111
0.199

-0.003

6.95%

7%

Prime + 1.75%

7%

Prime + 1.75%

EPS $

0.287
0.645
0.366
0.000
0.012
0.883
0.355

Interest
20 November 2029
19 October 2017
19 October 2022
30 May 2013
29 May 2015
Div &

P/E Yield

__esa fr? ae rah




eT i
STUBS
inventory total

NEW YORK





Corn prices slumped
Thursday after a new gov-
ernment report said inven-
tories were higher than
expected, which caught
traders by surprise, accord-
ing to Associated Press.

Corn prices lost 9.75 cents
to settle at $4.9575 a bushel.
The movement also dragged
down wheat but soybeans
rose on higher export sales.

The Agriculture Depart-
ment said corn stocks
totaled 1.71 billion bushels
as of Sept. 1 on farms, and
at mills, warehouses, eleva-
tors and similar places. Most
analysts had predicted the
stocks would be about 1.407
billion bushels, PFGBest
grains analyst Tim Hanna-
gan said.

The report caught many
traders off-guard because it
means more inventory than
they had expected was on
hand as the harvest was just
beginning at the start of
September, Hannagan said.

Corn prices have rallied
to two-year highs in recent
weeks because of strong
export demand and expec-
tations that the U.S. crop
will fall short of a record
year for yields.

Wheat for December
delivery fell 9.5 cents to set-
tle at $6.74 a bushel and
November soybeans added
7.75 cents to $11.0675 a
bushel as the agricultural
agency reported strong net
export sales in the past
week.

In other trading, most
energy prices rose on
upbeat economic news that
bolstered expectations for
improving demand.

The government said
first-time claims for jobless
benefits declined last week.
It also raised its second-
quarter estimate on gross
domestic product to 1.7 per-
cent from 1.6 percent. In
addition, an improvement
was recorded in Chicago
regional manufacturing
activity. Benchmark oil for
November delivery gained
$2.11 to settle at $79.97 a
barrel on the New York
Mercantile Exchange.

In other Nymex trading
in October contracts, heat-
ing oil rose 5.35 cents to set-
tle at $2.2440 a gallon and
gasoline added 4.93 cents to
$2.0448 a gallon.

November natural gas
lost 9 cents to settle at
$3.872 per 1,000 cubic feet
after the government said
stockpiles rose.

Gold and other metals
fell as the dollar grew
stronger. Since commodities
are priced in dollars, a
stronger dollar makes them
more expensive for foreign
buyers. In December con-
tracts, gold for December
delivery dipped 70 cents to
settle at $1,309.60 an ounce;
silver fell 13.1 cents to
$21.821 an ounce and cop-
per lost 1 cent to $3.6515 a
pound.

October palladium added
$3.95 to settle at $571.25 an
ounce and October plat-
inum gained $2.60 to
$1,652.00 a pound.

































































































NOTICE

NOTICE is hereby given that ROBIN CADET of BETHEL AVENUE
AND ALBATROSS ROAD, P.O. BOX N-8080, NASSAU,
BAHAMAS is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/naturalization should not be
granted, should send a written and signed statement of the facts within twenty-
eight days from the 1° day of October, 2010 to the Minister responsible
for nationality and Citizenship, PO. Box N-7147, Nassau, Bahamas.

NOTICE

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

6.01
0.40

14.00
0.55

-2.945
0.001

0.000
0.000
31.59 29.00
0.55

4.540
0.002

0.000

0.55 0.000

BISX Listed Mutual Funds

NAV

1.4904
2.9115
1.5546
2.8624
13.4286
109.3929
100.1833
1.1272

Fund Name

CFAL Bond Fund

CFAL MSI Preferred Fund

CFAL Money Market Fund

Royal Fidelity Bahamas G & | Fund

Royal Fidelity Prime Income Fund

CFAL Global Bond Fund

CFAL Global Equity Fund

FG Financial Preferred Income Fund

FG Financial Growth Fund

FG Financial Diversified Fund

Royal Fidelity Bah Int'l Investment Fund Principal
‘

1.4005
2.8266
1.4905
2.8522
13.0484
101.6693
93.1998
1.0000
1.0000
1.0000
9.1005

1.0948
1.1275

9.5955
10.0000 _ Royal Fidelity Bah
Protected TIGRS,
Royal Fidelity Bah vestment Fund Principal
Protected TIGRS, Series 3

Royal Fidelity Intl Fund - Equities Sub Fund

vestment Fund Principal
2 10.3734
9.1708
9.1708

4.8105 7.5827

YTD%

NAV 3MTH
1.475244
2.926483
1.533976

NAV 6MTH
1.452500
2.906205
1.518097

Last 12 Months %
3.50% 6.42% 31-Jul-10
31-Aug-10
17-Sep-10
31-Aug-10
31-Aug-10
30-Jun-10
30-Jun-10
31-Aug-10
31-Aug-10
31-Aug-10

0.85%

3.18%
-8.16%

0.46%

0.23%
4.30%
-7.49%
2.40%
5.20%
-1.52%
3.43%

7.60%
3.56%
5.28%
6.10%
5.64%

107.570620
105.779543

103.987340
101.725415

2.51%
3.37%

East Bay St.

2.71% 5.96% 31-Jul-10

-3.69% 3.38% 31-Jul-10

-8.29%
-1.74%

-8.29%
11.58%

31-Aug-10
31-Aug-10

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

for daily volume
r daily volume

DIV § - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earin: as
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007

KS1) - 3-for-1 Stock Split - Effective Date 7/11/2007

N/M -

YIELD - last 12 month dividends divided by closing price

(a) ZORICAN LTD. is in dissolution;

(b) The date of commencement of the dissolution
is the 6th day of September A.D., 20 and

(c) the Liquidator is C.B. Strategy Ltd., of 308

C.B. Strategy Ltd.
LIQUIDATOR

Not Meaningful

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525

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



PAGE 8B, FRIDAY, OCTOBER 1, 2010 THE TRIBUNE





INTERNATIONAL BUSINESS



Dollar rises from 5-month
low following jobs report

Damian Dovarganes/AP Photo

ABOVE

JOB HUNTING: Guadalupe Corral, 20, right, fills out a job application for a retail position with Guess
by Marciano store, at the “End of Summer Job Fair,” a one day event co-hosted at Citadel Outlets in
partnership with the City of Commerce on Thursday, Sept. 16, 2010, in Commerce, Calif. Applications
for unemployment benefits fell for the third time in four weeks, and wholesale prices rose. The job-
less rate is expected to remain above 9 percent well into next year.

LEFT

SHOWING APPLICATION: Tamara Tillman, left, and Lorena Garcia, right, fill applications for a sales
associate position at the “End of Summer Job Fair”.



NEW YORK

Positive news Thursday
on U.S. jobs and manufac-
turing helped pull the dol-
lar off its latest five-month
low against the euro, accord-
ing to Assoicated Press.

While Europe's debt trou-
bles are once again a worri-
some issue, the euro has
risen strongly against the
dollar this month because
investors expect that the
Federal Reserve might take
further action to boost the

Do you know that your
favourite teacher can

WIN $1000!

USS. economy, which would
also lead to lower interest
rates and possibly weaken
the dollar.

On Thursday morning,
however, a U.S. government
release suggested that
employers are slowing job

SIR

cuts, while a strong report
on manufacturing in the
Chicago area reassured
investors who expected a
slowdown in the industrial
sector.

That helped boost the dol-
lar. Investors hoped that

GERALD CASH

NATIONAL DISTINGUISHED
— TEACHERS’ AWARDS ——

Nominations close on October 15”, 2010

better news on the econo-
my could limit the Fed's
need to support the econo-
my further by buying up
large amounts of govern-
ment debt, said Ashraf Lai-
di, chief market strategist at
CMC Markets in London.

In late afternoon trading
in New York Thursday, the
euro traded at $1.3643,
unchanged rom its value late
Wednesday.

Earlier in the day, the
euro notched a five-month
high at $1.3683.

The euro had gained
despite a big increase in Ire-
land's bailout of its troubled
banking system and a down-

The European currency
has risen about 7 percent
versus the dollar this month,
an usually large swing.

The British pound
dropped to $1.5716 from
$1.5795, while the dollar fell
to 83.40 Japanese yen from
83.62 yen.

The dollar is not far off its
15-year low of 82.88 yen
struck earlier this month,
just before the Bank of
Japan intervened in foreign
exchange markets to weak-
en the yen.

In other trading Thursday,
the dollar dropped to 1.0279
Canadian dollars from

Presented by:

QUIT cacceesuws The Tribune

For further information you may email us at:

ton 1.0305 Canadian dollars, but
NDTA@fidelitybahamas.com

rose to 0.9816 Swiss francs
from 0.9768 Swiss francs.

grade of Spanish govern-
ment debt by Moody's
Investor Services.

THE WEATHER REPORT [)2e==.
x | te

Mostly cloudy with a

thunderstorm
rh Low: 77°
TAMPA AccuWeather RealFeel AccuWeather RealFeel AccuWeather RealFeel NCE Cm r Lime

High: 90°
ae = age oo
High: 89° F/32° C 99°-82° F 96°-82° F 96°-83° F 102°-85° F

Low: 71° F/22°C ine, save AccuWeather fearon eS hneae is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure,
Zz 7 and elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

~
Vv Temperature

2 i 88° F/31° C
_ . 8-16 knots

| 79° F/26° C

| 86° F/30° C

@ WEST PALM BEACH | 74° F/23° C
High: 86° F/30° C
Low: 73° F/23°C

. 88° F/31° C
ee
=<
=
MIAMI

77° F/25° C
High: 88° F/31°C
Low: 74° F/23°C



INSURANCE MANAGEMENT
(BAHAMAS) LIMITED

INSURANCE BROKERS & AGENTS

UV INDEX Topay

e\7

HIGH

~~
a.
Mostly cloudy,
t-storms possible

High: 89°
Low: 81°

o|1|2

Low

a|4|5

MODERATE

|s/9|
V. HIGH

i
ell
—

Mostly cloudy,
t-storms possible

High: 89°
Low: 80°

EXT.
ORLANDO
High: 89° F/32° C
Low: 69°F/21°C
&

Partly cloudy witha
passing shower

Partly sunny with a
thunderstorm

High: 88°
Low: 79°

Mostly cloudy,
t-storms possible

The higher the AccuWeather UV Indexâ„¢ number, the
greater the need for eye and skin protection

i TIDES For Nassau

High HL(it. Low

Today 12:42 a.m.

1:22 p.m.

1:50 a.m.
2:28 p.m.

2:58 a.m.
3:31 p.m.
4:02 a.m.
4:29 p.m.

4:59 a.m.
5:24 p.m.

Wednesday5:53 a.m.
6:16 p.m.

Thursday 6:45 a.m.
7:06 p.m.

50 a.m.
57 p.m.
Saturday :00 a.m.

6:
7:
8
9:00 p.m.



Sunday 9:11 a.m.

9:58 p.m.

10:16 a.m.
10:51 p.m.

11:17 a.m.
11:42 p.m.

12:13 p.m.

ABACO
High: 89° F/32° C

7 Low: 74° F/23°C

ee



Monday
Normal high .
Normal low ...
Last year's high .
Last year's low
Precipitation

As of 2 p.m. yesterday «0.0.0.0... ceeseeeeeeeee 2.87"
Year to date “
Normal year to date

Tuesday



FT. LAUDERDALE
High:87°F/31°C
Low: 77° F/25°C _

FREEPORT
High: 88° F/31°C
Low: 72° F/22°C



25
3.1
2.6
3.2
2.8
3.3
3.4
3.4
3.4
3.4
3.6
3.5
3.8
3.4

‘ A 1:07 p.m.
<1 (f >

7-14 knots

AccuWeather.com

Forecasts and graphics provided by
AccuWeather, Inc. ©2010

ELEUTHERA TT MUM THI

High: 91° F/23°C

Low: 78° F/26°C
High: 89° F/32°C

——
Low: 77° F/25°C

GREAT EXUMA ae

High: 90° F/32° C
Low: 82° F/28° C

Tr

NASSAU —
High: 90° F/32°C
Low: 77° F/25°C

a

Sunrise...... 7:02 a.m.
Sunset....... 6:57 p.m.

First

12:20 a.m.
2:19 p.m.

Moonrise. ...
Moonset.....

Full

=
ws af = " New
KEY WEST G z
High: 88° F/31°C
Low: 76° F/24°C
eo

CAT ISLAND

A


8-16 knots

Oct. 7 Oct. 22 Oct. 30

SAN SALVADOR
High: 90° F/32°C
Low: 80° F/27°C

AL
<1 >

6-12 knots

MAYAGUANA
High: 88° F/31°C
Low: 79° F/26°C

| 2 Oct. 14
— Zz Vv
Cs 6-12 knots
ANDROS $s
High: 92° F/33°C
Low: 76° F/24°C

Shown is today's weather. Temperatures are today's

highs and tonights's lows.

tr
LONGISLAND

High: 89° F/22°C
Low: 81° F/27°C

2ST MANAGEMENT TRACKING Map

a
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INSURANCE MANAGEMENT

(BAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS

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

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THE TRIBUNE



PAGE 1

0r

FRIDAY, OCTOBER 1,



ts

2010

PAGE 10 © {nternational sports news








‘Everything
seems to be quite
in order’ at the
Commonwealth

Games...
See page 9

Team Bahamas settling in, ‘looking seetty sood’

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

EW DELHI,
India — On
Thursday, half
of Team
Bahamas’ ten-
nis players arrived to join the
contingent of track and field
competitors, cyclists and box-
ers waiting to represent our
country at the XIX Com-
monwealth Games.

While all of the track and
field athletes — with the excep-
tion of Donald Thomas
(expected to arrive October
2) —have settled in along with
the two boxers and two of
three cyclists (Mark
Holowesko withdrew), coach

Junior sailors
prepare for the
Optimist National
Championship

FIFTY junior sailors from
Long Island, Governor’s Har-
bour, Harbour Island, Abaco
and Freeport and 30 from
Nassau are expected to com-
pete for the Bahamas Opti-
mist National Open Champi-
onship 2010 October 2-3 in
Montagu Bay.

Vixens beat
Champs Club

Technicians
defeat Saints

SCOTTSDALE Vixens
took the victory in three sets
— 25-9, 25-13 and 25-9 —
against Champions Club as
New Providence Volleyball
Association (NPVA) action
continued Wednesday night
at the D W Davis Gymnasi-
um.

Krystel Rolle led all scor-
ers with 12 points in the win
while Samantha Forbes fin-
ished with two points in a
losing effort.

The men’s feature was
another three-setter as the
Technicians defeated the
Saints — 25-17, 26-24 and 25-
22. Derek Walkine finished
with nine points for the win
and Chauncey Cooper
scored seven in the loss.

Also last week Sunday,
the Johnson’s Lady Truck-
ers beat the COB Lady
Caribs — 18-25, 25-8, 25-12
and 25-18. Davia Moss and
Anastacia Sands-Moultrie
led the Truckers with 12 and
five points respectively in
the win.

In the losing effort, Dian-
dra Sands scored 12 points,
five of which were service
aces.

On the men’s side, the
Intruders improved their
record to 2-0 by defeating
DaBasement Crimestoppers
— 25-13, 22-25, 31-29, 24-26
and 16-14-— who dropped to
0-2 early in the season.
Prince and Arison Wilson
led the charge with 27 and
18 points respectively to
secure the win. Muller Petit
and John Rolle both came
up with 18 points in the loss.

And on September 25, the
Lady Techs needed four sets
to defeat the Lady Caribs —
25-17, 16-25, 25-16 and 25-
14.

Sherry Whylly led the
Techs and all scorers with 11
points for the win and Krys-
tal Delancy scored eight for
the Lady Caribs.

In men’s action, the Scotia
Defenders disposed of the
Youthful Saints — 25-18, 25-
19 and 25-17. Shedrick
Forbes and Jamaal Ferguson
led all scorers with 16 and
nine points respectively.
Lorenzo Williams and
Chauncey Cooper both
scored six points for the
Saints.

Leo Rolle and female player
Nikkita Fountain were the lat-
est to arrive. They came into
the games village yesterday
along with assistant boxing
coach Floyd Seymour from
Washington D.C. and physio-
therapist Cottrice Roberts-
Robinson from Grand
Bahama.

Chef de mission Roy Cole-
brooke, who arrived ahead of
the team to ensure that every-
thing was in order, said the
Bahamas is looking pretty
good.

“With me being a hotelier,
with a new facility like this
being opened, you will have
some clean up challenges and
that is exactly what it was,”
he said. “There was no need
to cry about anything. I think

THE

what needed to happen was
everybody just needed to pull
together and get the job done.
That is exactly what happened
when I got here with persons
who were hired to do that
job.”

Musgrove said he has been
to many sporting events and
these accommodations have
“surpassed most of them.”

“So I don’t know why there
were so many complaints

SOFTBALL

QUEEN'S College Comets’ senior
girls went on the road and defeated
the Kingsway Academy Saints, 18-3.

The Bahamas Amateur Indepen-
dent Secondary Schools’ (BAISS)
softball season got underway on

Tuesday afternoon.

On the mound for the Comets was
three-sport star Alex Marshall,
known for her prowess on the bas-

ketball court, who pitched a stellar

game for the win.

The Comets took control in the
opening inning and never relin-

Dunkley and crew
win Snipe Nationals

By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

PAIRED with two differ-
ent crews over the course of
the two-day competition, one
half of the defending Snipe
Nationals champion was able
to reclaim the title in 2010.

Robert Dunkley and crew
Shaquille Dean/Michelle
Hope finished well ahead of
the competition in the final
points standings of the
Bahamas Sailing Associa-
tion’s (BSA’s) 2010 Snipe
Nationals over the weekend
in Montagu Bay.

Dunkley and Dean posted
a dominating day one when
they captured first place fin-
ishes in all three races.

On day two, Dunkley and
Hope finished third in race
three, fourth in race five, but
rebounded to end the event
on a winning note with a first
place finish in the finale. The
team finished with a final
score of seven points overall.

Jimme Lowe and
Carmeron Symonette finished
second overall with 13 points,
Dwayne Wallis and Lee
McCoy were third with 14
points, Fernando de Carde-
nas and Kim Pyfrom fourth
with 17, Gavin McKinney and
Donico Brown fifth with 18,
Lori Lowe and Maria Aaboe
sixth with 26 while Chris
Sands and Adam Russell
rounded out the field with 29

points.

Seven boats contested the
championship which has been
in existence for more than 40
years. Dunkley won the 2009
nationals alongside crew BJ
Burrows.

The Snipe class features a
15 and-a-half foot, two-per-
son, one-design racing dinghy.
The boat is recognised by the
International Sailing Federa-
tion (ISF) as an International
Class and is sailed in 26 dif-
ferent countries worldwide.

One of the most all-inclu-
sive sailing classes, it is con-
tested by all persons of vary-
ing age, weight, or sex, with
co-ed draws popular in inter-
national competition.

Lori Lowe, fleet captain for
the Snipe Class, was one of
four sailors to represent the
Bahamas in Snipe Class at the
XXI Central American and
Caribbean Games in
Mayaguez, Puerto Rico.

Along with crew Michael
Holowesko, the team placed
seventh with 36 points while
Jimmie Lowe and crew
Cameron Symonette was fifth
with 29 points.

Lowe said the Snipe class
continues to be on the rise,
due in large part to the BSA
summer programme. “The
growth of the class has fluc-
tuated over the years. There
have been championships
where we have seen as many

SEE page 9



OPTIMIST OPEN: About 50 junior sailors from feng Island, Governor’s
Harbour, Harbour Island, Abaco and Freeport and 30 from Nassau are
expected to compete this weekend (October 2-3) in Montagu Bay for
the Bahamas Optimist National Open Championship 2010.

quished the lead en route to the lop-
sided win. The Comets moved to1-0 0-1.

TRIBUNE



about the preparation of the
games.”

During the Bahamas’ flag
raising ceremony on Tuesday,
Musgrove was highlighted in
the local daily newspapers for
the stance he took against
those countries who cried
shame on India. “When we
look at what the games stand,
it’s about bringing the Com-
monwealth nations together
and so if we run into this kind

Maca itcr

Niels itt:
el

a
dtr tee od
Refrigerator
ered be

of situation, I believe that
instead of pointing fingers, we
should bind together and help
to ensure that these games in
India be the best games for
the Commonwealth,” he said.

“T’ve been to other games.
They’ve had their challenges.
There are no games that go
on without their challenges.
Sure India had some rain, but
that was an act of God. But
after the rain, they went
ahead and put some measures
in place to get the ground
facilities in order and that is
what they did.”

Musgrove said those per-
sons who accused India of not
being fully ready to host the
games would probably want
to take those words back now
when they look at what has

Photos by Kermit Taylor

LOPSIDED WIN: Senior girls on the softball field Tuesday. SEF more photos page 9

on the season while the Saints fell to



ee eee a

Student
Desk
$119

transpired in getting the facil-
ities ready.

Tim Munnings, the deputy
chef de mission, said he could-
n’t agree more with Cole-
brooke. “My expectations
when I first came here were a
bit low because of what I seen
reported in the press, but I
was extremely pleased when I
went into the rooms and saw
the accommodations,”
Munnings said.

“The space was impressive,
the bathrooms were very
clean. I’m sure they had to do
a lot of cleaning up. But each
room, the cafeteria, every-
where has air-condition, so all
of the athletes are comfort-
able. The only struggle is the
inconsistent Internet service,
but the Internet goes off at
home, so they’re working on
it and we’re doing the best we
can. We don’t need the Inter-
net to compete. This is really
about the athletes, so we’re
trying to ensure that they are
as comfortable as they can
be.”

While coach Rolle and
Fountain made it in yester-
day, Grand Bahamian tennis
player Larikah Russell was
due in by today. The male
players — Marvin Rolle, Devin
Munnings and Rodney Carey
Jr from Grand Bahama — are
scheduled to arrive before the
opening on Sunday.

For Rolle, the trip for him
and Fountain was “long and
tiring,” especially considering
the fact that they both arrived
without their luggage.

“Anytime you are travel-
ling on this side of the world,
you have to be prepared for a

SEE page 9

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



TRIBUNE SPORTS

FRIDAY, OCTOBER 1, 2010, PAGE 9



LOCAL SPORTS



‘Everything seems to be quite in order’
at 2010 XIX Commonwealth Games

By BRENT STUBBS

NEW DELHI, India — The XIX
Commonwealth Games is set to start
Sunday and, from the looks of
things, everything seems to be quite
in order.

I must say that the organising
committee has done a fantastic job,
contrary to the negative media
reports that came out of India over
the last few weeks.

On arrival here at the games vil-
lage, I was pleasantly surprised to
find the accommodations more than
adequate for the athletes and offi-
cials.

Let me take you back a bit.

The news circulating from India
was that too many countries and ath-
letes were pulling out because of the
shabby preparation with regard to
getting the facilities ready. There
was a report of the games village
being “uninhabitable” and a bridge
collapsing near the national stadi-
um where the opening and closing
ceremonies as well as the athletic
(track and field) competition was
going to take place.

After taking a 13-plus hour trip

Dunkley

and crew
win Snipe
Nationals
FROM page 11

as 15 boats and as little as five
but its popularity is on the rise
again,” Lowe said.

“We expect four junior
boats to sail with us as a part
of the fleet. One of the main
reasons the popularity of the
class continues to increase is
because of the impact the
BSA summer programme has
had in attracting new talent
with the younger kids in
schools."

The BSA hosted the fifth
edition of its Summer Sailing
Programme at the Nassau
Yacht Club which is aimed at
targeting beginners of the
sport.

It featured scores of stu-
dents between the ages of
eight and 15 (boys and girls
from public and private
schools throughout the coun-
try) interested in learning to
sail or competitive sailing.
Many of them have gone on
to represent the Bahamas at
the international level.

Sailing camps were also
held in Harbour Island and
Long Island where more stu-
dents were able to take
advantage of the programme.

Some of the programme’s
alumni who have gone on to
achieve national and interna-
tional success include Danny
de Cardenas, two-time Opti-
mist Nationals winner and
defending champion, and
Donico Brown, who repre-
sented the Bahamas at last
year’s World Championships
in Brazil.

A host of other young
sailors have gone on to com-
pete in international compe-
tition, including Christopher
Sands, Michael Holowesko,
Michael Gibson and Brent
Burrows Jr, along with Long
Island's Torrington
Cartwright who represented
the Bahamas at the 2009
International Junior Sunfish
Nationals.




from New York to New
Delhi on Wednesday,
when I arrived at the
International Airport
with physio-therapist
Cottrice Roberts-Robin-
son from Grand
Bahama, assistant box-
ing coach Floyd Sey-
mour, tennis coach Leo
Rolle and female player
Nikkita Fountain, we
were all greeted with a
host of local personnel,
who were eager to usher
us through the immigra-
tion check.

We were escorted to
a waiting area where we
had light refreshments
as they checked our
accreditation and then
once we got our bags
(those that arrived), we
were whisked off on a one-hour bus
ride to the games village.

On the way, we passed through
the busy thoroughfares with the
police escort on the designated Com-
monwealth Games’ lanes and we
made our way to the games village



OPINION

STUBBS xcrccited There we

met assistant chef de
mission Tim Munnings
and eventually chef de
mission Roy Cole-
brooke, who both gave
us a brief tour as we
proceeded to the dor-
mitories for the
Bahamas.

I have to agree with
both Munnings and
Colebrooke, having
travelled to numerous
Commonwealth and
Olympic Games, the
facilities here are sec-
ond to none.

And Colebrooke was
quoted in yesterday’s
newspapers in New
Delhi that all those who
have been complaining
should have been lending a hand to
ensure that the games are up to stan-
dard. There are a few minor hitches,
the main one being the Internet facil-
ities on each floor, but for the most
part, everything appears to be in
order for what should turn out to be

a fantastic game.

Once we viewed a portion of the
facilities where the Bahamian team
will reside for the next three weeks,
we headed to the cafeteria where
there were a variety of foods and
salads to choose from — western,
African, Asian, Indian, Tandori, piz-
za, vegetarian, desserts and drinks.

The good thing is the facility is
open 24 hours so you can go back as
many times as you want. In the cafe-
teria, we met the remainder of the
Bahamian contingent, mainly the
track and field squad, whom had set-
tled in from Monday and they were
all in high spirits.

Looking around at the facilities,
there wasn’t any shortage of any-
thing for the athletes to immerse
themselves into. There was a web
café, laundry area, entertainment
center, game room, you name it and
they have it.

Like one of the athletes said:
“There’s no need to leave the games
village for anything.”

Adjacent to the village is a state-
of-the-art sporting facility that
includes track and field, a weight
room and swimming complex, and

facilities for wrestling and para-ath-
letes.

As an athlete, competing at these
games should be a treat. Just so sor-
ry that so many of the big name ath-
letes decided to skip the long trek
here, either because of injuries or
they were burnt out from the long
season.

The good news is that there are
still a lot of athletes here, although
the exact list of entries has not yet
been released, so this should be an
event of “uncertainty,” where the
athletes being best prepared at this
time should be able to rise to the
top.

The games have taken a bashing
even before they get underway. But
the preparations have not been as
bad as indicated. I just think that
with the way the organising com-
mittee has pulled these games
together, they will go on as one to
remember for years to come.

October 3-14, India will be on dis-
play as they host the games (held
every four years) for the first time.
So far, from what I’ve seen, they’re
on their way to make this an exciting
one for all to see and take part.

Team Bahamas settling in,

‘looking pretty good’

LOPSIDED WIN: Senior girls on the softball field Tuesday as the BAISS softball sea

Mh

Le
es ee rt FE es et



SAFE ARRIVAL: On Thursday, half of Team Bahamas’ tennis players arrived to join the contingent of track and field competitors, cyclists
and boxers waiting to represent the Bahamas at the XIX Commonwealth Games in New Delhi, India. Above: Brent Stubbs, senior reporter
at The Tribune (right) and assistant boxing coach Floyd Seymour. Below: tennis player Nikkita Fountain and coach Leo Rolle.



FROM page 11

lot of physical wear and tear, espe-
cially after taking the 13-hour flight,”
Rolle stressed.

“But Nikkita is holding up pretty
good. We also expect Larikah to be
here today and the guys will be com-
ing in on Friday. I would have liked
to see them here earlier so they can
get acclimatized to the conditions,
but that’s a part of life.”

Rolle’s son, Marvin, is coming
from California where he was com-
peting in a tournament while
Munnings and Carey, are both com-
ing from Florida. All three were wait-
ing on their Indian visas to travel.

Floyd Seymour will join his cousin,
national coach Andre Seymour, as
they work in the corners of Valenti-
no Knowles and Carl Hield in the
boxing arena. This is the first time
that (Floyd) Seymour will get a
chance to work with the national
team.

And he is beaming with excite-
ment. “I couldn’t wait to get here to
work with the Bahamian boxers and
the rest of the team,” said Seymour,
a physical trainer and boxing coach
in Washington where he resides.

“So I’m excited. For the past sev-
eral years, I have been working with
the American amateur boxers,
including some of whom competed at
the 2008 Olympic Games. I always
got the question: ‘Floyd, when are
you going to work with the Bahami-
an team?’ I said I was always here. I
never left. So when Andre called me
and told me he got to work with him,
I was just thrilled. It’s an awesome
feeling to be working with my peo-
ple.”

Mark Holowesko reportedly has
an illness in his family and he sent an
e-mail to the Bahamas Olympic
Committee, informing them that he
regrettably won’t be able to travel
and compete.

“He sent his apologies and
expressed his disappointment that
he can’t come. He said he really
wanted to compete,” said Musgrove,
indicating the contents of
Holowesko’s message to the rest of
the team.

QC senior girls blow
out Kingsway Academy

son got underway Tuesday afternoon. The Comets won 18-3.

Photos by Kermit Taylor

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N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R C M Y K C M Y K V olume: 106 No.260FRIDAY, OCTOBER 1, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER MOSTLY CLOUDY, T-STORMS HIGH 90F LOW 75F S P O R T S The Tribune THEPEOPLESPAPER BIGGESTANDBEST BAHAMASEDITION McCOMBO OF THE DAY N E W www.tribune242.com THEHORROR By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net THE horrifying details of how four young boys died at the hands of perverted Cordell Farrington were revealed to their grieving families yesterday. Relatives listened in disbelief as prosecutors disclosed the sor did and gruesome circumstances surrounding their killings on Grand Bahama seven years ago. The court heard how 43-yearold Farrington picked up Mackinson Colas, 11, Junior Reme, 11, Deangelo McKenzie, 13, and Desmond Rolle, 14. He bru tally attacked them and hid their bodies in secluded areas, only to return weeks later to collect the remains and store them in boxes at the home of his unsuspecting former girlfriend. The revelations during Farringtons sentencing hearing yesterday sparked an emotional outburst from members of the victims families who sobbed uncontrol lably and had to be ushered out of the court. YOUNGBOYS FAMILIES HEAR FOR FIRST TIME HOW LOVED ONES WERE KILLED Cordell Farrington locked up for life THE TRIBUNES BRENT STUBBS IN INDIA READ HIS COMMONWEALTH GAMES REPORT ON PAGE 11 T EARSOUTSIDECOURT: G rieving family members (above and far right of the victims had to leave court yesterday as emotions ran high. Cordell Farrington (centre T i m C l a r k e / T r i b u n e s t a f f INSIDE FAMILY OF MAN SHOT DEAD BY POLICE ACQUIRE LEGAL COUNSEL PAGETHREE CHRISTIE: PMHAS SOURED PUBLIC OPINION AB OUT BAHA MAR DEAL PAGETWO FORMER PM REGRETS NOT SELLING BTC PAGETWO SEE page eight

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COUNTLESS numbers of senior citizens in the country are being deprived of their homes, property and even t heir old age pension, accordi ng to Minister of State in the Ministry of Labour and Social Development Loretta ButlerTurner said. And with some Bahamian f amilies unable or unwilling to assist their older relatives,t he Department of Social Services is frequently expected to house those neglected seniors and take care of their needs, she said. S peaking during a press c onference on Monday to announce the schedule of activities for Older Persons Month, Mrs Butler-Turner said: Unfortunately, these people do not believe that their seniors are their responsibility.T he attitude is that they cannot afford to care for their parents or relatives financially. Hence, we must take the role as caregivers and must protect them from abuse ande xploitation. She said individuals must be cognisant of the needs and r ights of the older, more vuln erable members of our society. These rights include indep endence, participation, care, self-fulfillment and dignity. Mrs Butler-Turner e xplained that the United N ations states that the rapid growth of the number of older persons could result in i ncreased poverty, decline in housing and healthcare. Therefore, she said, it is v ery fitting that the Bahamas h as adopted the United Nations theme 'Older Persons and the Achievement of the M illennium Development Goals'. These goals are: eradicating extreme poverty and hunger; achieving universal primary education; promoting g ender equality and empowe ring women; reducing child mortality rate; improving maternal health; combattingH IV/AIDS, malaria and other diseases; ensuring environ-m ental sustainability and d eveloping a global partners hip for development. Mrs Butler-Turner said the Senior Citizens Division alongw ith other officers of the Department of Social Services throughout the Family Islands will continue to ensure the enactment of the Millennium Development Goals, whilee xamining closely the aging of o ur population. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, OCTOBER 1, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By REUBEN SHEARER Tribune Staff Reporter rshearer@tribunemedia.net I N ITS ongoing effort to improve electricity supply t o more than 8,000 customers in Abaco, the Bahamas E lectricity Corporation is continuing with planned upgrades at the new Wilson City Power Plant, now in its final testing phase. The upgrades will improve electricity supply on the island, and residents will no longer experience blackouts due to load shedding, a statement from the corporation said. B EC went on to accept responsibility for the recent o utages on Abaco, explaining that it became necessary to maintain a balance between demand and generation capacity until the power station is properly functioning. The purpose of the new power plant is to provide a dditional capacity to support the corporations Marsh H arbour facility, which is incapable of fulfilling Abacos growing power needs. B EC requested the patience of Abaco residents as t hey work feverishly to bring the Wilson City Power P lant back online and provide seamless electricity supply to customers. We hope that future outages will be kept to a minim um as we go through this brief testing phase, said a BEC official. B y NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net A GROUP of suspended students from a North Western District junior high school confronted their parents on Thursday about the e xistence of gangs. They did so in a reconciliation meeting with Superintendent Leon Bethel from the Cen-t ral Detective Unit (CDU Reid of the Hope Centre Ministries. The meeting was a first of its kind, intended t o foster a relationship between the families, the police and the children. Supt Bethel said the police were looking to partner with the community to reform minds and not just lock up kids. He said the animosity between children remains even after someone is locked up, so additional intervention is needed. He said the hatred between the students grows over time when the root of the problem is not addressed. The boys, ranging in age from 11 to 14, rat tled off the names of over 15 gangs they claim are present in their school: the Gun Dogs and Gun Hawks, Yen, R&R, Westside Jubilee, Dirty South, Swampers, Mason Murderers, Pinewood Niggas, to name a few. They all have a corresponding community and territory on the school compound. Principals will deny the fact that gangs exist, according to Pastor Reid, because some of them fear they might lose their job. In the minds of the children, he says, it sends the message that we live in a false world. Fighting Either you are blind, dumb or you are trying to cover up the fact that you have a problem. I have had students tell me how they have to jump the school fence before the bell rings just to get out. I have even run into stu dents who dropped out of school because they were tired of fighting; they were out numbered and tired of having to defend them selves. That is the culture we are in now, said Pastor Reid. The pavilion at one junior school, for example, is said to controlled by the Raiders. One mother, said her son told her, boys come bythe pavilion and push their hand in your pocket and steal your lunch money. Her son had his school bag stolen and cut up during the first week of school. She said her son appears to be shifting his character at school to fit in, and the changes are now starting to spill over at home. Pastor Reid said she was not alone, because he has counselled students who say they fail exams intentionally, so they do not stand out. The faces of some mothers showed a clear expression of surprise that gangs exist, and their children were aware. The meeting pro vided an opportunity for the parents to express their frustration and assist in coming up with solutions to the problem. One of the mothers had earlier discounted the presence of gangs, saying anytime a group of boys are together they are said to be in a gang. She said her son is not in a gang, but he is sometimes forced to defend himself. A nother mother said she once witnessed a group of outside boys verbally harassing random students in front of her sons school. She said the boys ripped the pocked off af emale students blouse and stole her money before running off. In the past few days, she said school admini strators started escorting students to the bus stop, which was a helpful initiative. One of the grade nine boys said he did not f eel threatened in school because most of them are scared of me. He said his record of fighting goes back to grade 7. Fighting was a necessity, he said, in order to prove himself. One parent said she did not want her son to feel he had to take matters into his own hands. He wanted him to learn to use the proper channels. Retaliate One of the suspended boys said this was not practical, because students retaliate when they are reported to the authorities. He said, an incident that may have been between two students would definitely escalate into a fight between two gangs. Some of them, after you do that they will come back and beat you, and they will gang you this time, he said. Pastor Reid explained to the parents that every area has a crew, and the parents are not informed because they know you gone pop their neck. He said the boys do not want to be in gangs, but they feel forced to align themselves with a faction in order to protect themselves. Students are aligning themselves with var ious groups. We label them as gangs because (their behaviour is) moving towards the negative. I would be naive if I were to say to you they did not exist. Some of them are more hostile than others, but as we have read of gangs and seen them on the television, I don't think we have gotten to that point, said Howard Newbold, superintendent of the North Western District. I have been in education for 40 years. We have seen symbols of students who claim they are affiliated with gangs. Many of them attach themselves to groups for many reasons, for safety reasons, and to attach themselves for positive reasons, like going to a friend to study, said Mr Newbold. When I was in school there were groups of students who would move together, but we werent gangs in the negative sense. What we did would have been positive. There was a safeguard in the numbers. I believe that is philosophically what is hap pening, he said. Pastor Reid agrees that youth gangs in the Bahamas are not as organised as American gangs, but he insists that is the direction in which the Bahamas is headed. He said gang activity accounts for a lot of the bullying, petty theft, school stabbing, and cross rivalry, but there has recently been a branch ing out into more serious activity, such as car theft and housebreak-ins. BEC continues with planned upgrades at power plant %4+2674'*17)*6 Suspended students confront parents about existence of gangs Many senior citizens deprived of homes, property and pension ANNOUNCEMENT: Minister of State in the Ministry of Labour and Social Development the Loretta Butler-Turner (left announces the activities for Older Persons Month being cele b rated in the month of October at a press conference. Sitting on the right is administrator of the Persis Rogers Home and National Council on Older Persons member Francis Laedee. Letisha Henderson /BIS S CHEDULE OF ACTIVITIES FOR OLDER PERSONS MONTH DURING the month of October designated as Older Persons Month several activities will be hosted by the Department of SocialS ervices in partnership with the National Council on Older Persons to highlight issues, concerns and accomplishments related to senior citizens. Today, a church service will be held at St Francis Xavier Cathedral, West Street. An exhibit will be held this coming Tuesday in the foyer of the Clarence Bain Building that is designed to create a sense of awareness regarding items that were utilised many years ago. There will also be a workshop on Dementia on Thursday, October 14, at the Transfiguration Church Hall that will inform on how to care for persons experiencing the ailment. On Friday, October 22, the computer closing exercise will take place. The purpose of the classes is to give older persons the introductory information on modern technology. Then there will be a fun day for persons in group homes/rental units and urban renewal areas. On Monday, October 25, the ministry will host its annual Nation Builder Award Ceremony, which will be held at Government House. Special awards will be presented to 10 older persons and unsung heroes, drawn from nominations throughout the Bahamas, for their contributions to the development of the country.

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B y ADRIAN GIBSON ajbahama@hotmail.com FROM THE outset, the proposed project to redevelop Cable Beach (Baha Mar) seemed unjustifiable as theres no volume of business to rationalize sucha massive investment, which appeared destined to become nothing short of a white elephant. Since the early days, the so-called redevelopment project has been on the brink of total c ollapse, languishing in a p erpetual state of dormancy. The Baha Mar saga can be likened to a ghost story, that is, one that has haunted the nation for years but remains an economic poltergeist. Will it ever come t o fruition, emerging from t he vividly make-believe w orld of the developers imagination to something that is tangible, that the Bahamas can be proud of? The Baha Mar deal has been shrouded in mystery and riddled with top-secret clauses and fire-sale conc essions from the time that i t was initially brought into the publics consciousness. Frankly, although the curr ent administration has sought to renegotiate the deal, it has represented a reckless gargantuan handover of public land on a silver platter for nothing m ore than a jar full of shiny b eads! S ince the giveaway of a hotel and hundreds of acres of publicly-owned primel and on Cable Beach, all I ve seen thus far are fancif ul visual representations of B aha Mars dreams that are repeatedly paraded on nightly newscasts, the clo-s ure of the Nassau Beach hotel and legal squabbles between the developers and their financiers. Financiers T he great land giveaways by the former government h as been, in some cases, to s everal carpetbagger develo pers who are more comparable to land speculators, as they dont have them onies and must search for financiers and/or earn capital from selling lots for hundreds of thousands of dollars. In some instances, it appears that Bahamian Crown land has been given a way for 30 pieces of silver t o mere amateurs who k now little about the development of resort properties. H onestly, it has been a w hile since weve had a major project in the ilk of Atlantis, Paradise Island. T he decision of Prime M inister Hubert Ingraham to temporarily shelve a con troversial labour resolution f or the Baha Mar project was representative of the classically good common sense for which the PM hasb ecome known. It would have been fool ish for the government to pass a favourable resolutionf or Baha Mar when they have a yet unsettled loan with Scotia Bank for moret han $200 million and with t he China Export-Import Bank refusing to release financing because they are s eeking to use the propert ies on Cable Beach (the Sheraton and Wyndham resorts) as collateral to secure their loans. So, whata re the implications for the Bahamas if Baha Mar defaults on yet another loan? How can they repay $2.6 billion when it appears that they have serious difficulties paying back $200 million? Has Baha Mar paid outstanding government taxes and, if not, when will they do so? There is too much at stake here. The economic downturn in the US makes the Baha Mar project seem even more far fetched, since an ongoing recession means that many of the potential 80 per cent of American tourists who annually visit our shores will be more pro tective of their discretionary income and therefore not travel. Even more, the absurd request for more than 8,150 work permits for Chinese and other foreign workers to come to the Bahamas to p articipate in the re-development project is simply unconscionable. Moreover, the Prime Minister is rightthere will be little to no transfer of knowledge to l ocals! I f the developers can d efault on a $200 million loan with Scotia Bank, to the point that they couldo nly achieve a resolution on the broad parameters of an a ppropriate settlement, the P rime Minister must have considered the damning consequences for such ane xtensive, exclusive strip of land (Cable Beach principals behind Baha Mar default on repayment of the C hinese loan. Put simply, the xenophobic fears of Creole becoming an official n ational language would be s urpassed by the notion that M andarin will become the mandatory second lan-g uageat least the lang uage for business transactionsand the Chinese would control a large seg ment of our tourism product and arguably the best strip of property on New Providence. T he Prime Minister, in d iscussing Baha Mar, said it best when he stated: We also have to take i nto account reality. We h ave operating down in Cable Beach now a number of hotel rooms a number of them are closed now,i ncluding the casino. Well if I have difficulty dealing with less than 1,800 rooms whati s it likely to be the case if I put 3,500 rooms there? What makes me feel and what gives me the level ofc onfidence that all of a sudd en I've become a magician in terms of the managemento f a hotel and I'm going to h ave a very successful oper ation with high levels of occupancy and good levels of revenue to repay the loano f $2.4 billion? Loan "And if I am having dis c ussions about the question o f repaying a loan of $200 million that is dragging on and on, does that raise any question that I ought to bec oncerned with? These are all matters that the government has to be concerned with. "My duty is to do what I think is best for the Bahamian people and we are considering and pondering all these matters before we give formal consideration". Amen to that! Seemingly, the PM is ensuring that Bahamians are not, yet again, raped of their patrimony in yet another land grab. Frankly, the Baha Mar deal should be entirely renegotiated or nixed! TERRIBLE SERVICE OF CABLE BAHAMAS! With all of its fancy TV commercials promoting its move to a digital format, Cable Bahamas must improve its internet service. From Monday to sometime after 1pm yesterday, I had been inconvenienced and without internet service. Frankly, the response time for technicians is unac ceptable and there is no acceptable excuse for my failures with internet con nectivity. As I have indicated to their customer service rep resentative, I expect my account to be credited for the days that I was without service. Surely, Cable Bahamas should know that internet service and quick responses to failures are paramount in this age of modern technology, e-com merce and instant communication. Whilst the cable company is usually more consistent than many of the quasi-government utility companies, the aforemen tioned should be duly not ed! C M Y K C M Y K P AGE 6, FRIDAY, OCTOBER 1, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The Baha Mar saga has haunted nation for years Y OUNG M AN S V IEW ADRIANGIBSON L EFT-RIGHT: S heryl Knowles, Pinewood Urban Renewal; Constable Chester Walker; Kindrick Rolle, Organiser; MP Bryan Woodside, sponsor; Edward Curling, sponsor; Bishop George Barr Jr; Ken Johnson, Christian Massive. T HE second annual Stop the Violence com munity festival will be held today and tomorrow at Pinewood Park, under the theme More peace on our streets. On Friday, between 5 pm and 11pm, there will be a gospel jam boree featuring community choirs, dance groups, drama groups and gospel artists. Then ight will end with a candle-light community prayer. O n Saturday, there will be a cultural fair and concert, beginning at 6am with a fun-walk and health screening. This will be followed by a souse-out, live performances, marching b ands, games and competitions and a junkanoo rush. There will be a Kids Corner featuring a b ouncing castle, face painting and slides and games. STOP THE VIOLENCE FESTIVAL STARTS TODAY Shar e your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for impr ovements in the ar ea or have won an award. If so, call us on 322-1986 and shar e your stor y.

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C M Y K C M Y K LOCAL NEWS PAGE 8, FRIDAY, OCTOBER 1, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Important Notice To our Valued Clients We wish to advise that effective November 1, 20101, Royal Bank of Canadas domestic retail and commercial banking operations conducted out of its branch network in The Bahamas will be transferred to a wholly-owned subsidiary of Royal Bank of Canada, which is headquartered in Toronto, named RBC Royal Bank (Bahamas the brand name RBC Royal Bank. RBC Royal Bank (Bahamas laws of The Bahamas and will be licensed by the Central Bank of The Bahamas. This change in legal entity is a reflection of RBCs determination to deepen its presence in The Bahamas and establish a local corporate structure for its banking operations. As a client, you will continue to receive the same competent, friendly and helpful service from the employees who have served you over the years. The changeover will be seamless and clients will not be required to take any immediate action resulting from this change in our name and legal entity structure. Through the normal course of business and well in advance, RBC will advise you of any new requirements. As RBC embarks on this new phase of its development in The Bahamas, we remain committed to providing clients with a distinctive customer experience.1Subject to receipt of all required regulatory and governmental approvals and authorizations. www.rbcroyalbank.com/caribbean Registered trademark of Royal Bank of Canada TM The Lion & Globe symbol and RBC are trademarks of Royal Bank of Canada m embers that required intervention. R eginalds daughter Nickell said her f ather may have retorted if someone approached him and treated him like a vagrant, because he was a proud man and often did not stay quiet when disrespected. If someone spoke to him in a demeaning way, he would say, I have children your age, let me give you their business card. Obviously you dont know how to talk to me; let me send you to my educated children so they can teach you how to talk to people, said Nickell. The most problem he would cause, she said, is that his words would cut you. She said her father had no need to beg, because he had strong family support. The family is concerned about the discrepancies between eye witness accounts and police reports. They say, even if police accounts are true, they should have acted in a more professional manner to diffuse the situation and provide help for their father. Is that the order of the day, where a police officer shoots someone and leaves them on the road to bleed like a dead dog? I am all for police protecting themselves, but he was an old and frail man. If you kicked him to the ground, why could you not restrain him? Why did you have to dispense your weapon? Patrice asked. Reginald was known by many names: Morning George, Boy, Cisco. For some time his daily routine was to leave his business interests in Bain Town to visit his family downtown. The route included a stop by his brother George at the British Colonial Development Company, his daughter Nick ell, who used to work at Fluid Club, and then his daughter Shurie, who used to work at Scotia Bank main branch. After making his family rounds, he would head back to the bus bay and catch a bus over the hill, where he was in the process of building an apartment building. He would have spent most of his days sorting out his property. Other than that he would be relaxing in front of his building greeting whoever. He still was into exercising. He would swim on the beach by Long Wharf, do a run by the fort, and he was inside by 6pm. No time after 6pm would he be outside, said Nickell. He started out as a kitchen steward at Compass Point, when he first entered the hospitality business. For about ten years after that he served as a public transport operator, running a taxi from the airport and Paradise Island. Shurie said people prejudged her father because of his appearance, perhaps because they saw a man with his hair grown. Initially they must have felt he had nobody. It was a textbook case, open and shut. They felt they didnt have anyone with sense to answer to, but we beg to differ, said Shurie. Even if they felt the action was justified they should show some compassion. To me they are being arrogant about it as though they do not have to answer to anyone, she said. The family says it is trying to shield its young children from developing negative feelings towards the police. The family is now faced with that threat. Reginald has several grandchildren. We want the truth to be known so our children dont grow up with that bitter taste in their mouth against the police. When they think about Papa, we want our kids to say justice prevailed, not this is what happened to Papa and nobody did anything about it, said Patrice. We dont want that to dwell in our family. We dont want to hate the police, we want to respect them. You want to grow up you children in the light that they respect authority. We want them to believe if they live the right way, then justice will prevail, she said. Farrington had already pleaded guilty to manslaughter. In his confession, he revealed how he picked up t he unsuspecting boys, s odomised them and then k illed them. He told how he h id their bodies at Barbary B each in eastern Grand B ahama, returning weeks l ater for their remains. S entencing Farrington to l ife, Senior Justice Jon Isaacs described the killings as horrific and not of someone who should be readmitted into society. The court heard how Farrington, tired of killing, w alked into the Central Police Station in Grand Bahama, told police he simp ly could not take it anym ore and confessed to the m urder of 22-year-old Jamaal Robbins who hec laimed had been his lover a s well as the murders of the four boys. Farrington is already serving a life sen tence for the death of Mr Robbins. Mackinson Colas went missing on May 16, 2003. He w as last seen by his mother. F arrington told police he had picked the boy up on P ioneers Way, Freeport. He c onfessed that he took M ackinson home, ordered him to take a shower and told him he was going to killh im. According to his statement, Farrington said that when the boy asked why heh ad to kill him, he replied by saying simply that he had to do it. Farrington told police he bound the boy by his hands and feet with duct tape and struck him on the head several times with a wooden plank. He then put the boys body in the trunk of his car, d rove to Barbary Beach and buried him there. Two weeks later he returned to collect his remains. An outburst by a sister of the deceased prompted the judge to order that all relatives leave the court. You took my brother f rom me. You are supposed t o die, the woman shoute d. D eangelo McKenzie was l ast seen by his grandfather o n May 27, 2003. Farrington told police he picked up the boy in the parking lot of theC hurch of God while he was heading home from school. He said he had asked the boy to go home with him to p ick up some equipment for the church. He confessed that he took the boy home a nd had sex with him twice. H e asked the boy about his f amily and told him he was going to have to kill him. Hes aid the boy told him that h e only wanted to go to school and have a good education. Farrington then bound the boy with duct tape and hit him in the head several times with a wooden plank. H e then put the boys body i n the trunk of his car and drove to Barbary Beachw here he hid the body. J unior Reme was reported missing on July 29, 2003, and was last seen by his mother. Farrington told police he h ad picked the boy up at the rear of Christ the King Anglican Church and took him home. There he ordered the boy to take a shower but the boy refused. Farrington told investigators that he bound the boy w ith duct tape and the child started to scream, so he stabbed him in the neck with a knife; all the while his own son was in another room. He told police he took the boys body and put it in the trunk of his car. He then drove to Barbary Beach w here he hid the body. Farr ington told police he was s orry the boy had to die such a horrible death. D esmond Rolle was last s een by is mother on September 28, 2003. Farrington said he picked t he boy up at a park while heading to Williams Town. He told the boy he knew his mother and brother, and h aving gained his trust, drove him to a bushy area where he handcuffed and r aped him. Farrington then s lit the boys throat, took his b ody back to his car and committed a sex act. Het ook the boys body to Bar b ary Beach, slit open the chest cavity, removed his heart and severed his limbs. Farrington told police he was trying a new way to kill. Prosecutor Neil Brathw aite said there was evid ence that Farrington had also been involved in bes t iality, had been admitted to S andilands and had suffered physical, emotional and psy chological abuse. He said the prosecution had accept e d Farringtons plea of guilt to the charge of manslaughter as he had acted with d iminished responsibility. W hen asked whether he had anything to say, Farr ington broke into tears in t he prisoners dock. H e said: I didnt fully understand what happened but I ask for forgivenessf rom the family members. His attorney Ramona Farquharson noted that Farrington had confessed to the crimes and had suffered from a severe personality disorder. She submitted that p rior to committing the o ffences he had been a productive and law-abiding citi zen. I n sentencing Farrington, Senior Justice Isaacs noted t hat the promising lives of f our young boys had been s nuffed out and that the court could show no further degree of mercy to Farring-t on other than what had already been afforded him. He also noted that Farrington reportedly suffered from a severe personality disorder. Senior Justice Isaacs described the killings as horrific and not of someo ne who should be readmitted into society. H e sentenced Farrington t o life imprisonment on each of the four counts. The j udge stated that while in p rison he would receive the c ounselling he needs. The court hoped that he would spend the rest of his naturall ife in jail. Relatives of the deceased refused to speak after the hearing. Farringtons attorney said: I think there is a sense of relief that everything has f inally come to a conclus ion. Cordell Farrington locked up for life F ROM page one LIFESENTENCE: Cordell Farrington outside of court yesterday. Family of man shot dead by police acquire legal counsel FROM page thr ee REGINALD CISCO SMITH pictured with his family. He was shot by police on Bay Street.

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C M Y K C M Y K SECTIONB business@tribunemedia.net FRIDAY, OCTOBER 1, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69T he information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.19 $4.37 $4.22 customized group & individual health plans uninterrupted coverage coverage after age 75 24/7 customer serviceall of the above be happywith your health plancall us today at 396-1300 A DIVISION OF A MBESTA-ExcellentFinancialStrengthRating NASSAU I FREEPORT I ABACO I ELEUTHERA I EXUMA I FINANCIAL CENTRE I CORPORATE CENTRE I www.famguardbahamas.com By NEIL HARTNELL T ribune Business Editor A leading attorney yesterday expressed concern that the Bahamas was running a real repu tational risk because very few fraudsters and wrongdoers responsible for financial collapses in thisn ation had been brought to justice, while the regulators rarely failed to detect such problems in t heir infancy. B rian Moree QC, senior partner at McKinney, Bancroft & Hughes, told Tribune Business that Reputation risk fear on financial fraudster justice Senior attorney and QC warns that Bahamas must show financial sector has integrity and is first class by holding white collar criminals to account *Adds that regulators must be more proactive when writingi s on the wall to prevent financial collapses, and do better job on justice for investors post-collapse Tells Tribune Business: Weve got to demonstrate through actions and regulatory structures that if you rip off investors in the Bahamas, you will be brought to justice and held a ccountable for your conduct. It is only in that environment investors feel comfortable in Bahamian entities SEE page 2B BRIANMOREE LANDMARK: The world-renowned Atlantis resort on Paradise Island, which is a huge tourism draw. By NEIL HARTNELL Tribune Business Editor A leading Freeport wholesaler is threatening to take legal action against Bahamas Customs over the unlawful detention of eight trailers worth of imports, one of its executives telling Tribune Business last night that the situation was harming both its sales and the $1 million per annum duty con tribution it makes to the Governments revenues. Christopher Lowe, operations manager at Kellys (Freeport Bahama Chamber of Commerce president, said the com pany had temporarily suspend ed the importation of three more trailer loads of products until the situation with Customs was resolved, since there was not much point in importing them if they could not be sold. Explaining that the situation related to Customs demand for Kellys (Freeport report to it on its bonded good sales, and its threat to not clear the companys trailers until this was received, Mr Lowe said the company currently had 10 trail ers worth of imports it was unable to receive. We have 10 trailers on the ground, and three more trailers we have put on hold with the vendors, Mr Lowe explained, as theres not much point in importing goods if you are unable to clear the goods and sell the goods. Theyre hurting the Trea sury and the Governments rev enues more than us. We submit to them $1 million a year in duty collected on their behalf. Mr Lowe said he was unable to precisely detail the quantity and value of products contained in the trailers presently detained by Customs, but said it was significant, because those are the products that are replacing the products that we are Customs detains firm s 8 trailers over sales report Wholesaler and attorneys threaten legal action over unlawful detention of goods, warning it placed companys business in jeopardy and already suffering financial losses Company already pays $1m in duties to Treasury per annum, and executive says three more trailer imports placed on hold until matter resolved* Government revenues and product sales both impacted, with high-demand products facing possible inventory shortages SEE page 2B F e l i p M a j o r / T r i b u n e s t a f f By NEIL HARTNELL Tribune Business Editor Some 78 Grand Bahama residents were out of work last night after the Port Group Ltd affiliate that runs the Port Lucaya Marketplace evicted the three restaurant businesses owned by Sir Jack Haywards son, Rick, who told Tribune Business last night: Im incredibly, enormously upset. Speaking to this newspaper just hours after representa tives of Bourbon Street Ltd, the Port Group/Grand Bahama Port Authority sub sidiary that owns the Marketplace, locked him and his staff out of the three properties La Dolce Vita, the Pub at Port Lucaya and East Mr Hayward expressed his unhappiness at being unableto come to terms with the landlord over a new lease/rental agreement. Im incredibly, enormously upset about the whole thing, and that we couldnt come to an agreement. Weve got 78 people out of work. It is totally unnecessary, Mr Hayward told Tribune Business. He referred to a potential agreement that had previous-ly been reached between him self, his company, LDV Ltd, and the landlord in summer 2010, which involved Bour bon Street and the Port Group forgiving the rental debts estimated at about $500,000-$600,000 in return for handing East over to 78 jobs lost as Sir Jack evicts son SEE page 4B By NEIL HARTNELL Tribune Business Editor Desperate people take des perate measures was how the hedge fund financier for an $857 million Bahamian resort project yesterday labelled its former partner, describing as "outright lies" its allegations that it "fabricated the unavaila bility" of a key witness. Responding to claims that it misled Roger Stein, and his RHS Ventures company, over the unavailability of the man Desperate men do desperate things $857m South Ocean project financier hits back at outright lies of former partner in bitter courtroom battle* Alleges that latest claims an effort to obtain yet another delay to ratifying of arbitration award removing him SEE page 4B By CHESTER ROBARDS B usiness Reporter c robards@tribunmedia.net Timeshare units in the Harborside complex on ParadiseI sland are now 97 per cent sold-out, Tribune Business was told yesterday, with K erzner International expect ing Atlantiss group business to make a marginal comeback n ext year before returning to a semblance of pre-recession levels in 2012. George Markantonis, K erzner International ( Bahamas) managing direc tor and president, said A tlantiss overall year-overyear occupancy levels show a rebound in stopover visitor numbers. A nd while the group busi ness dynamics have changed since the global financial crisis and ensuing recession, book ings for 2011 will be above 2010. Mr Markantonis said the large corporate retreats PI timeshare 97% sold-out Atlantis expecting full group rebound in 2012, with marginal comeback in 2011* No fall Beach Tower closure for first time Reef condo-tel shows greatest occupancy increase, with Atlantis occupancies set to end 2010 above last years levels GEORGE MARKANTONIS SEE page 4B By CHESTER ROBARDS Business Reporter crobards@tribunmedia.net KERZNER International w ill not consider moving for ward with its Paradise Island Phase IV expansion plans until the $2.6 billion Baha M ar project comes to a final conclusion, its managing director revealed to Tribune Business yesterday, fearing t hat the Bahamian resort market would be over-saturat ed if new room inventory was released at the same time. G eorge Markantonis said Atlantis does not want to sat urate the room inventory of Nassau/Paradise Island with i ts planned Phase IV develKerzner: No Phase IV till Baha Mar end SEE page 3B

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selling, the products on demand. He added that the failure to clear those trailers would have an immediate impact on sales, given that Kellys (Freeports was dependent on a fast inventory turnaround. This meant that it might start experiencing shortages in highdemand products, hence the position of Kellys (Freeport and its attorneys that it will launch legal proceedings within 48 hours, unless Customs withdraws its demands and clears the companys trailers. Not only does every business in Freeport have to fight off a rough economy, now theyhave to fight off our government, and Im glad were in a position to be able to fight on a matter of principle, because it will have an effect on all licencees, Mr Lowe told Tribune Business. Theyre in effect making a request of you just like a person whos a gun to your head and demanding your wallet. That is effectively their approach; youre being asked to do something at the point of a gun. A September 30, 2010, letter sent to the Comptroller of Customs and head of Customs in F reeport by Kellys (Freeports attorney, Fred Smith QC, a C allenders & Co attorney and partner, called on the government agency to withdraw its demand for a bonded goods sales report as contained in its August 5, 2010, letter to the company. Stating that a review of the Hawksbill Creek Agreement and Customs Management Act produced no authority for Customs to legally demand such a report, Mr Smith wrote: This spontaneous demand is contrary to an established practice that has existed between our client and your Department since 1986, whereby our client provided monthly duty paid sales reports and entries to your Department. Decades Our client is a Licensee of the Grand Bahama Port Authority and has conducted its business under the provi sions of its License for decades. The importation of dutyexempt goods by our client is governed by the Hawksbill Creek Agreement and the law of the Bahamas, and not at the whim of your Department. Our client has contractually and statutorily protected rights to conduct its business as it has been conducting it, and has a legitimate expectation that it is entitled to continue to conduct its business as heretofore without arbitrary interference by your Department conjuring up new procedures. Bonded goods sales is a practice whereby Freeport-based wholesalers, such as Dolly Madison, Kelly's (Freeport and Bellevue Business Depot,a re able to sell products to other GBPA licencees for use in their respective businesses only, without any duty being paid to Customs/Government on their sale. It is a report on this activity that Customs is seeking, but Mr Lowe is arguing this has never been required before. Meanwhile, Mr Smith accused Customs of making good on its threat to enforce K ellys (Freeports by preventing our client importing containers of articles for its business. Some eight containers had been detained, he alleged, with Mr Lowe telling Tribune Business that a further two had since arrived on Grand Bahama. He said: We are instructed that our client delivered all of the necessary documentation in respect of six of the trailers on September 21, 2010, and the other two on the 22nd September for clearing the same. In respect of six of the trailers, your Department has refused to permit clearance of the goods on the basis that Bonded sales for JanuaryAugust are needed. That statement appears on an Entry Query Form dated September 22, 2010. We understand the normal process is that where your Department refuses to clear or permit an importer to clear goods, this entry form is produced, stating the reason for your Departments refusal to permit clearance. With respect to the two remaining containers we under stand that even more arbitrarily, your Department has sim ply refused to accept delivery of the appropriate documents from our clients customs bro kers attempting to clear the goods contained in those two containers. And Mr Smith warned: We have advised our client that this subsequent refusal by your Department to clear the six containers upon the basis that our client has not supplied Bonded sales in JanuaryAugust is unlawful. Further, your Departments complete refusal to deal at all with the other two containers is also unlawful. In the premises, you are in possession of our clients goods and have no lawful authority to detain the same. For the avoidance of any doubt, we hereby require you to surrender our clients goods, comprising the eight contain ers of goods referred to above, up to them forthwith. Your refusal to comply with this demand within a reason able time will result in the conversion of our clients goods for which damages will be sought. Be advised that our client relies heavily on the regular importation and quick clearance of goods required to conduct its business in Freeport, so your Departments continuing detention of its goods is likely to result in loss of profit to our client. Further, certain of the goods are susceptible to water and other damages, and if such goods are damaged by the delay in returning them to our client then their value will be claimed for in full. Warning that Kellys (Freeports placed in jeopardy, and that it had already suffered financial losses, Mr Smith demanded that the trailers be cleared and the necessary paperwork for their release accepted, with no conditions, such as a bonded good sales report, attached. C M Y K C M Y K BUSINESS PAGE 2B, FRIDAY, OCTOBER 1, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM the Bahamas and its financial services industry had to be concerned about the message being sent to clients/foreigni nvestors when it came to holding financial criminals and wrongdoers to account for their actions. And he argued that Bahamian financial services regulators needed to take a more proactive approach and deal with problems as early as possible wherever they arose, detectingw arning signs before situations got out of hand and became i mpossible to rectify. The regulatory oversight, in many instances, seems to be more reactive than proactive, and not always efficient in detecting when it should fraudulent activity or wrongdoing that ultimately leads to the collapse of investment funds, banks or some other entity, Mr Moree told Tribune Business. H e declined to cite specific situations, but one where the writing was on the wall from at least 2005-2006, prior to its eventual placement into Supreme Court-supervised liquid ation in early 2009, was CLICO (Bahamas The sector regulator, the then-Registrar of Insurance, h ad been aware that CLICO (Bahamas s ubstantial funds (eventually totalling $73 million Bahamas for investment in Florida-based real estate projects s ince 2003-2004, and this newspaper since 2007 had been raising questions about the companys financial health, partic-u larly why there was such a large concentration of its assets in a single, illiquid development. Y et no regulatory action to protect policyholders and c reditors was taken until CLICO (Bahamas those of its Trinidadian parent, CL Financial, had become so t erminal that they were impossible to correct. M eanwhile, Mr Moree added: Once the collapse occurs, w eve not always been very good at bringing wrongdoers to a ccount in a way that protects the overall integrity of the industry, so that the message goes out that if youre involved i n fraudulent activity in the Bahamas, you run the real risk of being caught and brought to justice, rather than the Bahamas being seen as the Wild Wild West, where if thesef ailures happen you can run off to other countries and nothi ng happens to you. The point is: How does the jurisdiction deal with the failure from the point of view of bringing wrongdoers to account, and how efficient is the court system and regulatory structures in offering the highest level of protection to investors in getting back their money? I t was here, Mr Moree said, that the reputational risk lay for the Bahamas. Financial collapses and frauds took place throughout the world, he noted, even in the US, UK, Canad a and major G-7 countries, but the key was what hap pened post-collapse and whether this nation was doing enough to give comfort to foreign investors/clients thatt heir interests would be sufficiently protected and looked after. The leading QC added: That is something we have to take a look at the regulators, the white collar crime pros-e cutors, and the directors of the police force responsible for commercial crime. Recor d It seems to me that that they all have to look at their record for bringing people responsible for white collar crime, domestically and through cross-border activities, to justice. Strong action, Mr Moree emphasised, would act as a d eterrent to those prepared to perpetrate fraud through activities and operations in the Bahamas. Weve got to demonstrate through actions and regulatory s tructures that if you rip off investors in the Bahamas, you will be brought to justice and held accountable for your conduct. That is a very important aspect to maintaining our reputation as a first-tier international financial centre. It is o nly in that environment investors feel comfortable in Bahamian entities. Its easy to say that we have integrity, and the financial s ervices industry is first-class and well-regulated, but we have got to demonstrate that is indeed the case when something happens. One such example was the $25 million collapse of former broker/dealer Caledonia Corporate Management that the resulting fall-out, which has been covered extensively by Tri bune Business. This newspaper has regularly been contacted, via phone and e-mail, by Caledonia clients questioning what action the Securities Commission of the Bahamas will take in relation to the collapse, and whether it actually has any regula tory enforcement teeth. Caledonias $25 million collapse resulted from allowing a now-convicted fraudster to trade on margin as part of a Pump and Dump stock manipulation, using other clients assets without their knowledge as collateral for his activ ities. When the margin became unsustainable, the Canadian correspondent broker sold off innocent clients assets to cover the hole, something that has been admitted by a for mer senior Caledonia executive in sworn testimony. Yet the Securities Commission, at least publicly, appears to have taken no action in more than two years against the principals at Caledonia. The Bahamas has also had to deal with its fair share of investment fund implosions over the past decade, such as the collapse of the Olympus Univest fund and potential loss to investors of an estimated Cdn$440 million. The Securities Commission began investigating the funds Canadian manager, Norshield, in 2004, but it is not known whether any enforcement action was taken. The collapse also appeared to play a major role in the closure of Bahamian fund administrator Cardinal International, although the company denied any wrongdoing and no findings have been made against it so far by the liquidators. Reputation risk fear on financial fraudster justice FROM page 1B F ROM page 1B Customs detains firms 8 trailers over sales report FRED SMITH

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By NEIL HARTNELL Tribune Business Editor Baha Mars principal has p ledged that construction w ork and ground breaking for the $2.6 billion project w ill take place in a few short months, even as talks on finalising a shareholders a greement to resolve its outs tanding $200 million Scot iabank loan continue. Speaking in New York as p art of an occasion to celeb rate the 25th anniversary of its equity and construction partner, China State Constructions, presence in the US, Sarkis Izmirlian, Baha Mars chairman and chief executive, said: In a f ew short months, the cons truction of Baha Mar will begin and we will be breaki ng ground on the famed C able Beach. T ribune Business reported yesterday that Baha Mar and Scotiabank had determined the amount of cash the developer would pay upfront, and the size of the equity stake the bank will t ake in the $2.6 billion Cable Beach redevelopment, hav ing decided on the figuresi nvolved in their debt-fore quity swap. T hey are now wrestling over the terms of a Share-h olders Agreement that w ould govern their relation ship and the terms of Sco tiabanks equity participation in the Cable Beach pro j ect. This was effectively confirmed in a late Baha Mar statement on Wednesday,w hich said agreement had been reached on the broad parameters of an appropri-a te settlement with Scotiab ank and the lending syndi cate. The relevant docu ments were now being d rawn up and finalised. The Cable Beach loan s ettlement is the last materi al financing piece related to t he Baha Mar project, and it is now in the process of being resolved, Mr Izmir lian said then. Approached In his address at the China State Construction event, Mr Izmirlian said he and his family were approached by the then-Christie governm ent to consider re-developing Cable Beach, and admitted they themselves w ere initially sceptical. My family and I have a v ision for the country of the Bahamas, and its huge potential for tourism, MrI zmirlian said. We were approached by the Bahami an government to consider r edeveloping a beautiful a rea of Nassau called Cable Beach.........Cable Beach had been the original leading tourism area of Nassau form any years, but over recent years had become sadly neglected. The Bahamian govern ment wanted to restore this area to its former glory and asked us if we would bei nterested in the revitalisa t ion of this important land mark destination. At first, my family and I w ere somewhat sceptical t hat such an undertaking w as something we wanted t o get involved in, but as we started to evaluate the beauty of the site and to look at the potential of creating something truly magnificent, w e increasingly became inspired by what could be achieved. Withdrew A fter Harrahs withdrew a s a 43 per cent equity partn er in the development, Mr I zmirlian said Baha Mar s poke to many international c onstruction companies, looking for a contractor partner. We quickly realized that only a handful truly got it a nd were as inspired about the possibility of creating t his project as we were. Most other companies focused more on the diffic ulties rather than the o pportunities, focusing on o bstacles rather than the bigger strategic picture this compelling opportunity presented its multiple stakeholders, Mr Izmirlian said. It became quickly appare nt during the selection process that one organization stood out above all the others, China State Construction and Engineering Corporation. This is because they saw B aha Mar for what it is: a u nique world-class resort that they could build, and in t he process, showcase to the w orld China States ability t o deliver an intricately d esigned, and complex, resort metropolis on a somew hat remote island in the C aribbean. C M Y K C M Y K BUSINESS T HE TRIBUNE FRIDAY, OCTOBER 1, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM +LJK(QG&RPPHUFLDOHDO(VWDWH 0XOWL)DPLO\/RWIRUVDOH %HDXWLIXO:HVWULGJH(VWDWHRUWK 3DYHGRDGV %DQN)LQDQFLQJ$YDLODEOHb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o pment, and will therefore await the finalisation of the $2.6 billion Baha Mar development that promises a further 3,500 rooms. We cant over-saturate the market, said Mr Markanto-n is. H e said that Atlantis, which has not had any lay-offs since 2008, continues to focus on cost-cutting initiatives and energy conservation. Its an ongoing process for u s, he said We have a wonderful and positive workforce t hat cooperates constantly as w e focus on utility costs, operating hours and so on and so forth. Mr Markantonis said A tlantis was expecting a bett er year oin 2011 and will budget as such. Stall The Government was this week forced to stall its planned House of Assembly d ebate while awaiting word o n the status of Baha Mars o utstanding ScotiaBank loan. Prime Minister, Hubert Ingraham held a candid pressc onference on Wednesday, where he revealed that hep ostponed a planned debate i n the House of Assembly o ver Baha Mars proposed 8,000 Chinese work force until the development completes i ts outstanding $200 million loan negotiations. The development will only receive the$ 2.45 billion loan commitment f rom the China ExportImport Bank, when its Sco tiaBank commitment has b een settled. Mr Ingraham also said that in 1997, the Governments igned a deal with Kerzner International that prohibits it from giving any other devel oper a better deal. That posi t ion was strengthened in 2003 by a clause negotiated during Atlantis Phase III development. The Bahamas govern ment committed itself in the a greement with Kerzner International that no one will get a better deal for a devel o pment than they got. That was in 1997. In 2003, that was strengthened by the Government when they did the Phase Three. That is called the Most Favoured Nation clause, said Mr Ingraham. If, therefore, the Bahamas government agrees to 5,000 Chinese workers building the resort on Cable Beach, at some subsequent time in the Bahamas, Kerzner will have the entitlement to come and ask for the same deal, and the Government will be bound to give him the same deal. So these are all matters that need to be considered up front. Kerzner: No Phase IV till Baha Mar end FROM page1B Baha Mar pledges start in a few short months MAJOR PLAN: The original rendering of the Baha Mar development.

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t hem. LDV Ltd and Mr Hayward would have been allowed to keep La Dolce Vita and the Pub at Port Lucaya, with a commitment to invest $250,000 to complete the latters renovation, but the deal stalled, partly because the Port Group wanted an upf ront cash payment, it is understood. Mr Hayward, who said he had injected $1 million into the businesses over the past three years, told Tribune Business that despite the eviction he remained confident in Freeport and the Bahamas, and wanted to continue in business in this nation. Im a great believer in Freeport, Grand Bahama and this country, and I would certainly like to carry on doing business, but not in the present environment, he told this newspaper. I am here, Im Bahamian and I love it here. My grandfather came here in 1955 with Wallace Groves, and Im not running away. All my children are Bahamian. This is home. Mr Hayward said the root of the dispute between himself and Port Group Ltd was an alleged unfair rental increase between 2004-2007, when lease payments doubled without explanation. He added that he had been trying to renegotiate the rental payments, and was prepared to pay a fair rent, but without success. When we opened the Pussers Pub and Company Store in Port Lucaya Market place during March 1988, we were the anchor tenant, largest employer and, up until now, the longest serving tenant, Mr Hayward said in a statement. We have had a good long run, and history will speak for itself. The past three years has been a struggle, even though I recently injected in excess of $1 million into the business. My family will not continue to back me financially, and at this point, I have to consider them and acknowledge that they have also been negative ly impacted with all that has transpired over these past few y ears. I am confident that things will improve in Freeport I took a risk and opened the East restaurant in May 2008, as I firmly believed that theres a niche for the cuisine we offered. At this time, how ever, I cannot afford to con tinue to throw good money after bad. After making every reasonable effort to do so, I have been unsuccessful in bringing the rental issue with the landlord and the powers that be to a satisfactory con clusion. As you know, we are and have been at a stale-mat ed position for far too long now. Challeng ing It has been an extremely challenging time, and in a situation where the deck of cards is stacked against you, we find ourselves in a loselose situation the staff, the creditors and me, said Mr Hayward. This is a very sad day for us all. Hopefully, the Port Group Ltd will be able to find a new tenant who can afford the exorbitant rent. I wish them well. In a brief statement last night, Port Group Ltd said: Based on a Supreme Court Order, dated 22 June 2010, issued by Justice Estelle GrayEvans, LDV Ltd was required to deliver up possession of all of its buildings in the Port Lucaya Marketplace, namely East Restaurant, Pusser's and La Dolce Vita, on or before 30 September, 2010. In compliance with the Order, the premises were vacated today. All existing and future debts, obligations, and liabili ties, whatsoever, remain the sole and full responsibility of LDV Limited and its principal(s C M Y K C M Y K BUSINESS PAGE 4B, FRIDAY, OCTOBER 1, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 0XOWLQDWLRQDO&RPSDQ\ LV ORRNLQJIRU 7DOHQWHG&DQGLGDWHV ZKRVHHN ([FHSWLRQDO&DUHHU'HYHORSPHQW75$,1((*5$0 FROM page 1B 78 jobs lost as Sir Jack evicts son supposedly behind a purported "sham audit designed to wipe out" their $5 million personal investment and equity position, hedge fund Plain field Asset Management said in a statement sent to Tribune Business: Mr. Stein's latest allegations are just outright lies, which is what we have come to expect from him. In the latest round of the protracted battle for control at the 375-acre southwest New Providence South Ocean project, Mr Stein and RHS Ventures are urging the New York State Supreme Court to overturn the arbitration award that removes them as general partner, and installs Plainfield Asset Management in their place, on the grounds that new evidence has come to light since the August 5 hearing on the issue. In their motion and supporting affidavits, Mr Stein and RHS Ventures are alleging that Plainfield falsely informed them that a Nev Harizman, who purportedly ordered the audit at the heart of the dispute, would be unable to testify during the American Arbitration Association hearing, even though he was in the US. Expressing concerns about the conduct of Mr Stein, and a private investigator hired by him, Rob Seiden, the hedge fund said of the claim: Mr Harizman was made available to testify byt elephone, but Stein's lawyers decided not to do so. As for Mr Steins claims that another former Plainfield employee, who was RHS Ventures' main contact point in their South Ocean dealings, was "coerced" into signing a 'false affidavit' claiming that Mr Stein 'misappropriated' partnership funds because the hedge fund was threat ening to withdraw his severance pay and healthi nsurance benefits, the hedge fund again said this was simply not true. It added: No one coerced Mr Reehl, who was represented by his own lawyer, to sign a sworn affidavit or testify. Stein's lawyers had ample opportunity to cross examine Mr Reehl during the arbitration, and are raising these issues now to obtain yet another delay." An affidavit from the attorneys for Mr Stein and RHS Ventures, which was filed in the New York courts in the past week, alleged that they had wanted to examine Harizman during the arbitration hearing on several issues, including what was purported to be a Plainfield conspiracy to remove the general partner. They alleged that Harizman's e-mails showed "he was attempting to bring other developers into the partnership to take over for Stein without Stein's knowledge", and that Plainfield was attempting to take complete control over South O cean. Mr Stein's attorneys also alleged that Plainfield a nalysed the benefits of removing him as general partner in a memo produced eight days before the September 15, 2008, audit was called for, and that the hedge fund had held discussions on the issue seven weeks before that date. "He [Harizman] was also at the centre of efforts to negotiate with a third-party lender the r estructuring of the entire real estate property at issue in the partnership to the exclusion of RHS V entures which was, at the time, still general partner," Mr Stein alleged. "In fact, weeks before Harizman even ordered the audit, he wrote numerous e-mails to other individuals within Plainfield Asset Management discussing the removal of respondents as general partner, as well as taking over the entire devel o pment from respondents." There were also allegations that Plainfield and Mr Harizman discussed the restructuring of the South Ocean with the third player in the resort project, the Canadian Commercial Workers Industry Pension Plan (CCWIPP recent times has been unsuccessfully trying to foreclose on the property, claiming there has been a default in repaying the $102 million owed to it. And Mr Stein also alleged that a former Plain field managing director Eric Reehl, had told him on August 13, 2010, that he signed an important affidavit "under significant duress and coercion" from the hedge fund, which had purportedly threatened to withhold his health insurance benefits and severance pay. Mr Stein alleged that the Reehl affidavit was a key factor in the arbitration hearings, and relied on heavily by the panel in its decision, as it was used by Plainfield to back up allegations that RHS Ventures had "misappropriated and con verted for personal use funds intended to be used in furtherance" of the South Ocean project. Desperate men do desperate things FROM page 1B R OGER STEIN that typically sustained the resort, and drove total room nights more than leisure bookings, declined drastically over the past two years, but c ould stage a return in 2012. We are seeing a lot of groups in smaller numbers, he said. In general, groups who visit are normally going to be incentive groups, while corporate business meetings have been largely curtailed. M r Markantonis added that the R eef, Atlantis condo-tel, had shown the greatest increase in occupancy this year, while its high-end One and O nly Ocean Club and Harbourside timeshare units have remained suc-c essful throughout 2010. He said the resorts multi-million d ollar marketing campaign, in conjunction with the public/private Companion airfare promotion, have driven significant business for Atlantis this year. T he hotel, for the first time, did not close its Beach Tower for the typically slower August and September months. In our case, the fall season is g oing ahead slightly better than last year, said Mr Markantonis. We didnt want to create the self-fulfilling prophecy [of the slow fall season by closing the tower]. There is b usiness out there, its just to find it. Occupancy According to him, Atlantis at year-end will finish on occupancy several points above what was achieved the year before. T here are signs that the hospitality industry is picking up in the US, a nd there is encouragement for Atlantis that next year will outpace 2 010, Mr Markantonis suggested. Next year is considerably ahead o f what it was at the same time last year for this year, he said. T he resort has also been working on some major sports tourism initiatives that are expected to be revealed within the next two months. Mr Markantonis said this niche t ourism product could have an initial 10-year life. He said the resort will also continue to capitalise on its A-list concert series that helps to drive room b ookings and some revenues through ticket sales. We have a very solid core of Bahamian fans, said Mr Markan-t onis. Naturally the audience changes d epending on the concert, but we do not really make money from concert attendance as much as from people who fly in and book a hotel room to enjoy the concert or play i n our casino. We have been very pleased with the success of the programme, and delighted to add another element of entertainment for the local popul ace. PI timeshare 97% sold-out FROM page 1B

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DAVE CARPENTER, AP Business Writer When you open your quarterly financial statements in the next few weeks, you might be both pleased and puzzled. Despite the economic doldrums, the stock market put together a sizzling 11 percent return over the past three months, including its best September since 1939. For a time Thursday, the Dow Jones industrial average for a time appeared headed for 11,000. But the gains are deceptive, market analysts say. While news about the economy has improved, there's no reason to believe it's roaring back. And the big advance was driven by a relatively small number of traders playing with a lot of money. "I think a lot of this is just misguided optimism," says Rob Arnott, chairman of Research Affiliates, an investment firm in Newport Beach, Calif. "The headwinds we face are pretty daunting." In other words, few are calling it the beginning of the next bull market not with unemployment still near 10 percent and stocks bound in what market technicians call a trading range. Still, the gains were impressive. In September alone, the Standard & Poor's 500 index rose 9 percent, the Dow almost8 percent and the Nasdaq composite index more than 12 percent. Every sector of the market was up. September is usually the market's worst month. This time, it was the third-best month of any kind in 10 years, narrowly trailing only March 2003 and April 2009, when stocks were bouncing back from meltdowns. So why the rally? Economic n ews, while not great, was at least enough to dispel fears of a so-called double-dip recession. The Federal Reserve indicated it was closer to taking new action to help the economic recovery along. And investors started looking past the November midterm elections and concluding that likely Republican pickups in C ongress mean that tax increases are less likely. The quarter got off to an inauspicious start. On the very first day of July, stocks dipped to what remains their low point of 2010: 1,011 for the S&P 500 index and 9,596 for the Dow in intraday trading. A fter rebounding to finish July up 7 percent, the market limped through August. The S&P 500 fell nearly 5 percent, and the major indexes wiped out any gains for the year. Besides the tough job market, home sales were miserable and Americans were b eing cautious with their spending. C M Y K C M Y K INTERNATIONAL BUSINESS T HE TRIBUNE FRIDAY, OCTOBER 1, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM PARIS S ongwriters and composers will get paid when their videos are seen on YouTube in France, under a deal announced Thursday by the online video sharing site and France's leading music industry group, according to Associated Press The industry group SACEM called the deal difficult to reach but innovative, and a victory in its efforts to protect copyright and make money online. YouTube's owner, Google Inc., has faced lawsuits in France over use of copyrighted content online, and criticism from the entertainment industry and the French government. The agreement means songwriters, composers and music publishers "will be paid for the distribution of their works on YouTube," according to a statement by YouTube and industry group SACEM. The statement did not say how they would be paid, or how much. The deal affects any music managed by SACEM, a group that has 132,000 members and copyright to more than 40 million musical works. The deal will be in effect through 2012. The deal also covers "Anglo-American repertoires from multin ational publishers" broadcast in France. The statement did not elaborate. "This deal shows again SACEM's will to favor legal use of works on the Internet, in particular on video sharing sites," SACEM President Bernard Miyet said. Google has sought to improve relations in France, and CEO Eric Schmidt promised at a meeting last month with President Nicolas Sarkozy to invest more in France. "The deal represents another milestone in the transformation of Y ouTube from an anarchic presence on the Internet before its acquisition by Google to a more mainstream public source for video content," said Bruce Sunstein, of law firm Sunstein Kann Murphy and Timbers in Boston. "It is inevitable that if YouTube seeks to become a universal source for video content ... YouTube must make deals with the owners of copyright in that content," he said. The announcement comes a few weeks after a German court ruled that YouTube must pay compensation after users uploaded several videos of p erformances by singer Sarah Brightman in violation of copyright laws. KATHY MATHESON, A ssociated Press Writer P HILADELPHIA Novartis Pharmaceuticals Corp. will plead guilty to charges it marketed an epilepsy medicine for unapproved uses andp ay $422.5 million in civil and criminal penalties, federal offic ials announced Thursday. The company agreed to pay a criminal fine and forfeiture totaling $185 million for the off-label promotion of Trileptal,U .S. Attorney Zane Memeger said at news conference in Philadelphia. Novartis will also pay $237.5 million to resolve civil liabilities o ver off-label marketing of Trileptal and for paying kickbacks to doctors in an effort to get them to prescribe that and five other drugs. ( AP Photo /Richard Drew) UPSWING: Traders gather at a post on the floor of the New York Stock Exchange Thursday, Sept. 30, 2010. Despite the economic doldrums,t he stock market put together an 11 percent upswing over the past three months. The increase came largely from a September gaint hat was the biggest since 1939 and made for the second-best month, period, in a decade. Stocks sizzled in third quarter, but will it last? French music industry reaches deal with YouTube INTERNATIONAL BUSINESS Novartis fined $422.5M in marketing, kickback case

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MARYCLAIRE DALE, Associated Press Writer PHILADELPHIA A judge quietly approved the bankruptcy sale of Philadelphia's two largest newspapers to creditors on Thursday, nearly closing a bitter and often chaotic 20-month battle for control of the company, according to AssociatedPress. The sale of The Philadelphia Inquirer and Philadelphia Daily News is valued at about $139 million, including $105 million cash and the iconic newspaper building. The senior lenders are essentially paying themselves. All of the approximately 30 banks and h edge funds holding the company's secured debt will now retain ownership stakes, including the hedge fund Angelo Gordon and Citizens Bank. Creditors plan to close the sale by Oct. 8. They could close sooner if they can negotiate contract terms with holdout drivers, who derailed the scheduled sale last month. "We look forward to operating the company out of bankruptcy, revitalizing the Inquirer and Daily News, and building the most successful regional portal in the country," said incoming Publisher Greg O sberg, referencing the company's Philly.com website. The confirmation hearing had an air of anticlimax, and exhaustion, after months of high-stakes legal maneuvering and two auctions to determine the next owner. Creditors won them both, outbidding 93-yearold business mogul Raymond Perelman and others. Perelman helped push the bidding past $100 million cash both in April and, when that deal fell through, in the second auction on Sept. 23. But the philanthropic city booster said he could not rationally pay more for the newspaper company, given the industry uncertainty. A group of local investors led by public relations executive Brian Tierney and luxury homebuilder Bruce Toll had borrowed heavily to finance their $515 million purchase of the company in 2006. They filed for bankruptcy three years later. Months of emotionally charged showdowns with creditors ensued, as the two sides battled over auction rules, union support, Tierney's "Keep it Local" campaign and slights real and perceived. But the creditors outlasted the challenges. And the alwayscolorful Tierney has moved on, spending much of the past few months in Europe, working on his next venture. The creditors have dubbed their company Philadelphia Media Network, and plan to cut costs by 13 percent across the board. Newsroom employees have agreed to 6 percent pay cuts that include two-week furloughs, but will be spared layoffs for at least a year. Osberg hopes to re-energize the website and better coordinate print and online opera tions. The Philly.com site is currently run by about 20 people who work in a different building. That setup will end, he said. C M Y K C M Y K INTERNATIONAL BUSINESS PAGE 6B, FRIDAY, OCTOBER 1, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1.011.010.000.2500.0404.03.96% 1 0.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6 .184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3 .493.15Bahamas Waste3.153.150.000.1680.09018.82.86% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.7710.770.001.2120.3108.92.88% 2.842.50Colina Holdings2.502.500.001000.7810.0403.21.60%7 .005.40Commonwealth Bank (S1)6.606.600.000.4220.23015.63.48% 3 .651.63Consolidated Water BDRs1.901.89-0.010.1110.05217.02.75% 2.551.60Doctor's Hospital1.901.900.000.1990.1109.55.79% 6 .995.94Famguard6.076.070.00-0.0030.240N/M3.95% 1 0.208.50Finco8.508.500.000.2870.52029.66.12% 11.408.77FirstCaribbean Bank9.749.740.000.6450.35015.13.59% 5.513.75Focol (S)5.465.460.000.3660.17014.93.11% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29% 10.509.92J. S. Johnson9.929.920.000.8830.64011.26.45%1 0.0010.00Premier Real Estate10.0010.000.000.3550.80028.28.00% 5 2wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 9 9.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.001 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 20 November 2029T HURSDAY, 30 SEPTEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,516.77 | CHG -0.01 | %CHG 0.00 | YTD -48.61 | YTD % -3.11BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 1 9 October 2017 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)2 9 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 P rime + 1.75% Prime + 1.75% 6.95%BISX LISTED & TRADED SECURITIES AS OF:7 % Interest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.49041.4005CFAL Bond Fund1.49043.59%6.42%1.475244 2.92652.8266CFAL MSI Preferred Fund2.91150.85%0.23%2.926483 1.55461.4905CFAL Money Market Fund1.55463.18%4.30%1.533976 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8624-8.16%-7.49% 13.638813.0484Royal Fidelity Prime Income Fund13.42860.46%2.40% 109.3929101.6693CFAL Global Bond Fund109.39295.20%7.60%107.570620 105.779593.1998CFAL Global Equity Fund100.1833-1.52%3.56%105.779543 1.12231.0000FG Financial Preferred Income Fund1.12723.43%5.28% 1.09171.0000FG Financial Growth Fund1.09482.51%6.10% 1.11981.0000FG Financial Diversified Fund1.12753.37%5.64% 9.59559.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.59552.71%5.96% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.3734-3.69%3.38% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.1708-8.29%-8.29% 7.96644.8105Royal Fidelity Int'l Fund Equities Sub Fund7.5827-1.74%11.58% 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-Jul-10 31-Aug-10 103.987340 101.725415 30-Jun-10 31-Aug-10 NAV 6MTH 1.452500 2.906205 1.518097TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Jul-10 30-Jun-10 31-Aug-10 17-Sep-10 31-Aug-10MARKET TERMS31-Aug-10 31-Aug-10CFAL Securities Ltd. (Over-The-Counter Securities)31-Aug-10BISX Listed Mutual FundsNAV Date 31-Jul-10 31-Aug-10 :,6/(7%(/,=$,5(RI)ODW 6KRDOV5G&RQ\HUV*D 52%,1&$'(7RI%(7+(/$9(18( $1'$/%$7526652$'3%2;1$66$8 %$+$0$6 $JXD,QYHVWPHQW)XQG/WG 1RWLFHLVKHUHE\JLYHQLQDFFRUGDQFHZLWK6HFWLRQ RIWKH,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV RIWKH'LVVROXWLRQRI $JXD,QYHVWPHQW)XQG %f KDVEHHQFRPSOHWHG&HUWLFDWH RI'LVVROXWLRQKDVEHHQLVVXHGDQGWKH&RPSDQ\KDV WKHUHIRUHEHHQVWUXFNRIWKH5HJLVWHURIFRPSDQLHV7KH GDWHRIFRPSOHWLRQRIWKHGLVVROXWLRQZDVWKH VW GD\RI $OUHQDR[H\ /LTXLGDWRU NEW YORK Corn prices slumped Thursday after a new government report said inventories were higher than expected, which caught traders by surprise, according to Associated Press Corn prices lost 9.75 cents t o settle at $4.9575 a bushel. The movement also dragged down wheat but soybeans rose on higher export sales. The Agriculture Department said corn stocks totaled 1.71 billion bushels as of Sept. 1 on farms, and at mills, warehouses, elevat ors and similar places. Most analysts had predicted the stocks would be about 1.407 billion bushels, PFGBest grains analyst Tim Hannagan said. The report caught many traders off-guard because it means more inventory than t hey had expected was on hand as the harvest was just beginning at the start of September, Hannagan said. Corn prices have rallied to two-year highs in recent weeks because of strong export demand and expec-t ations that the U.S. crop will fall short of a record year for yields. Wheat for December delivery fell 9.5 cents to set tle at $6.74 a bushel and November soybeans added 7.75 cents to $11.0675 a bushel as the agriculturala gency reported strong net export sales in the past week. In other trading, most energy prices rose on upbeat economic news that bolstered expectations for improving demand. The government said f irst-time claims for jobless benefits declined last week. It also raised its secondquarter estimate on gross domestic product to 1.7 percent from 1.6 percent. In addition, an improvement was recorded in Chicago regional manufacturing activity. Benchmark oil for November delivery gained $2.11 to settle at $79.97 a barrel on the New York Mercantile Exchange. In other Nymex trading in October contracts, heating oil rose 5.35 cents to set tle at $2.2440 a gallon and gasoline added 4.93 cents to $2.0448 a gallon. November natural gas lost 9 cents to settle at $3.872 per 1,000 cubic feet after the government said stockpiles rose. Gold and other metals fell as the dollar grew stronger. Since commodities are priced in dollars, a stronger dollar makes them more expensive for foreign buyers. In December con tracts, gold for December delivery dipped 70 cents to settle at $1,309.60 an ounce; silver fell 13.1 cents to $21.821 an ounce and cop per lost 1 cent to $3.6515 a pound. October palladium added $3.95 to settle at $571.25 an ounce and October platinum gained $2.60 to $1,652.00 a pound. Judge OKs $139M court sale of Philly newspapers MAKINGTHENEWS: In this photograph taken April 28, 2010, Dave Sexton sells newspapers outside the Philadelphia Inquirera nd Philadelphia Daily News building, left, in Philadelphia.. M a t t R o u r k e / A P P h o t o INTERNATIONAL BUSINESS Corn prices slump on surprise inventory total

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N EW YORK P ositive news Thursday on U.S. jobs and manufacturing helped pull the dol-l ar off its latest five-month low against the euro, according to Assoicated Press W hile Europe's debt troubles are once again a worris ome issue, the euro has risen strongly against the dollar this month becausei nvestors expect that the Federal Reserve might take further action to boost the U .S. economy, which would also lead to lower interest r ates and possibly weaken the dollar. On Thursday morning, h owever, a U.S. government release suggested that employers are slowing job c uts, while a strong report on manufacturing in the C hicago area reassured investors who expected a slowdown in the industrials ector. That helped boost the dollar. Investors hoped that b etter news on the economy could limit the Fed's need to support the economy further by buying upl arge amounts of government debt, said Ashraf Laidi, chief market strategist at CMC Markets in London. I n late afternoon trading in New York Thursday, the e uro traded at $1.3643, unchanged rom its value lateW ednesday. Earlier in the day, the euro notched a five-monthh igh at $1.3683. T he euro had gained d espite a big increase in Ire l and's bailout of its troubled banking system and a downg rade of Spanish govern m ent debt by Moody's Investor Services. T he European currency h as risen about 7 percent versus the dollar this month, a n usually large swing. The British pound d ropped to $1.5716 from $ 1.5795, while the dollar fell to 83.40 Japanese yen from 83.62 yen. The dollar is not far off its 15-year low of 82.88 yen s truck earlier this month, just before the Bank of Japan intervened in foreigne xchange markets to weaken the yen. In other trading Thursday, the dollar dropped to 1.0279 Canadian dollars from 1.0305 Canadian dollars, but rose to 0.9816 Swiss francs from 0.9768 Swiss francs. C M Y K C M Y K INTERNATIONAL BUSINESS PAGE 8B, FRIDAY, OCTOBER 1, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ANDROS CAT ISLAND ELEUTHERA MAYAGUANA SAN SALVADOR GREAT INAGUA GREAT EXUMA CROOKED ISLAND / ACKLINS LONG ISLAND ABACO Shown is today's weather. Temperatures are today's highs and tonights's lows. K EY WEST WEST PALM BEACH FT. LAUDERDALE TAMPA ORLANDOLow: 69F/21C L ow: 71F/22C Low: 73F/23C Low: 77F/25C Low: 74F/23C Low: 76F/24C Low: 77F/25C Low: 72F/22C H igh: 89F/32C High: 89F/32C High: 86F/30C H igh: 87F/31C H igh: 88F/31C High: 88F/31C H igh: 90F/32C Low: 74F/23C High: 89F/32C Low: 78F/26C High: 91F/33CRAGGED ISLANDL ow: 80F/27C High: 88F/31C Low: 82F/28C High: 90F/32C Low: 77F/25C High: 89F/32C Low: 80F/27C H igh: 90F/32C L ow: 82F/28C High: 91F/33C L ow: 81F/27C High: 89F/32C L ow: 79F/26C High: 88F/31C Low: 82F/28C High: 90F/32C Low: 76F/24C High: 92F/33C High: 88F/31CFREEPORT NASSAU MIAMI THE WEATHER REPORT 5-DAYFORECASTMostly cloudy with a thunderstorm Partly cloudy with a passing shower Partly sunny with a thunderstorm Mostly cloudy, t-storms possible Mostly cloudy, t-storms possible High:9 Low:77High:8 High:8 High:8 AccuWeather RealFeel AccuWeather RealFeel AccuWeather RealFeel AccuWeather RealFeel AccuWeather RealFeelMostly cloudy, t-storms possible High:89Low:79Low:78Low:81 AccuWeather RealFeel 97F The exclusive AccuWeather RealFeel Temperatureis an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure, and elevation on the human bodyeverything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 8 F 9 9-82F 9 6-82F 9 6-83F 102-85F Low:80T ODAYTONIGHTSATURDAYSUNDAYMONDAYTUESDAY ALMANACHigh ..................................................88F/31C Low ....................................................79F/26C Normal high ......................................86F/30C Normal low ........................................74F/23C Last year's high ..................................88F/31C Last year's low ..................................77F/25C As of 2 p.m. yesterday ..................................2.87" Year to date ................................................29.83" N ormal year to date ....................................38.45" Statistics are for Nassau through 2 p.m. yesterday Temperature Precipitation SUNANDMOON TIDESFORNASSAU New FirstFull L ast Oct. 7Oct. 14Oct. 22Oct. 30Sunrise . . . 7:02 a.m. Sunset . . . 6:57 p.m. Moonrise . . 12:20 a.m. Moonset . . 2:19 p.m. Today Saturday Sunday Monday HighHt.(ft.LowHt.(ft. 12:42 a.m.2.56:50 a.m.1.0 1:22 p.m.3.17:57 p.m.1.2 1:50 a.m.2.68:00 a.m.0.9 2:28 p.m.3.29:00 p.m.0.9 2:58 a.m.2.89:11 a.m.0.7 3:31 p.m.3.39:58 p.m.0.7 4:02 a.m.3.110:16 a.m.0.6 4:29 p.m.3.410:51 p.m.0.3 Tuesday Wednesday T hursday 4:59 a.m.3.411:17 a.m.0.3 5:24 p.m.3.411:42 p.m.0.0 5:53 a.m.3.612:13 p.m.0.0 6:16 p.m.3.5----6 :45 a.m.3.812:31 a.m.-0.1 7:06 p.m.3.41:07 p.m.-0.1 MARINEFORECAST WINDSWAVESVISIBILITYWATER TEMPS. ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU SAN SALVADOR RAGGED ISLAND Today:N at 4-8 Knots4-8 Feet10 Miles83F Saturday:ENE at 7-14 Knots3-6 Feet10 Miles82F Today:NW at 8-16 Knots1-3 Feet10 Miles83F Saturday:NNE at 6-12 Knots1-2 Feet10 Miles83F Today:SW at 6-12 Knots2-4 Feet4 Miles84F Saturday:SSE at 4-8 Knots2-4 Feet10 Miles83F Today:SW at 7-14 Knots2-4 Feet5 Miles84F Saturday:S at 8-16 Knots2-4 Feet5 Miles84F Today:WSW at 6-12 Knots3-5 Feet3 Miles83F Saturday:ENE at 4-8 Knots2-4 Feet10 Miles83F Today:NNW at 8-16 Knots1-3 Feet10 Miles83F Saturday:NE at 7-14 Knots1-3 Feet10 Miles83F Today:SW at 6-12 Knots1-2 Feet10 Miles83F Saturday:NNE at 4-8 Knots0-1 Feet3 Miles83F Today:SSW at 8-16 Knots2-4 Feet5 Miles84F Saturday:S at 10-20 Knots2-4 Feet4 Miles84F Today:SW at 8-16 Knots1-3 Feet4 Miles83F Saturday:S at 8-16 Knots1-3 Feet3 Miles83F Today:SSW at 7-14 Knots3-6 Feet5 Miles84F Saturday:S at 8-16 Knots3-6 Feet7 Miles84F Today:W at 6-12 Knots1-2 Feet10 Miles83F Saturday:NNE at 4-8 Knots0-1 Feet10 Miles83F Today:SW at 8-16 Knots1-3 Feet4 Miles84F Saturday:S at 8-16 Knots1-3 Feet10 Miles84F Today:SW at 6-12 Knots1-2 Feet3 Miles83F Saturday:ENE at 3-6 Knots1-2 Feet10 Miles83F UV INDEXTODAYT he higher the AccuWeather UV IndexTMn umber, the g reater the need for eye and skin protection.Forecasts and graphics provided by AccuWeather, Inc. AccuWeather.com NICOLE N I C O L E NICOLE Atlanta A t l a n t a Highs: 78F/26C H i g h s : 7 8 F / 2 6 C Kingston K i n g s t o n Highs: 83F/28C H i g h s : 8 3 F / 2 8 C Caracas C a r a c a s Highs: 91F/33C H i g h s : 9 1 F / 3 3 C Panama City P a n a m a C i t y Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Limon L i m o n Highs: 89F/32C H i g h s : 8 9 F / 3 2 C Managua Ma n a g u a Highs: 88F/31C H i g h s : 8 8 F / 3 1 C Cozumel C o z u m e l Highs: 88F/31C H i g h s : 8 8 F / 3 1 C Belize B e l i z e Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Charlotte C h a r l o t t e Highs: 77F/25C H i g h s : 7 7 F / 2 5 C Charleston C h a r l e s t o n Highs: 82F/28C H i g h s : 8 2 F / 2 8 C Savannah S a v a n n a h Highs: 85F/29C H i g h s : 8 5 F / 2 9 C Pensacola P e n s a c o l a Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Daytona Beach D a y t o n a B e a c h Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Tampa T a m p a Highs: 89F/32C H i g h s : 8 9 F / 3 2 C Freeport F r e e p o r t Highs: 88F/31C H i g h s : 8 8 F / 3 1 C Miami Mi a m i Highs: 88F/31C H i g h s : 8 8 F / 3 1 C Nassau N a s s a u Highs: 90F/32C H i g h s : 9 0 F / 3 2 C Havana H a v a n a Highs: 89F/32C H i g h s : 8 9 F / 3 2 C Santiago de Cuba S a n t i a g o d e C u b a Highs: 85F/29C H i g h s : 8 5 F / 2 9 C San Juan S a n J u a n Highs: 89F/32C H i g h s : 8 9 F / 3 2 C Santa S a n t a Domingo D o m i n g o Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Trinidad T r i n i d a d Tobago T o b a g o Highs: 92F/33C H i g h s : 9 2 F / 3 3 C Port-au-Prince P o r t a u P r i n c e Highs: 85F/29C H i g h s : 8 5 F / 2 9 C Cape Hatteras C a p e H a t t e r a s H ighs: 76F/24C H i g h s : 7 6 F / 2 4 C Aruba Curacao A r u b a C u r a c a o Highs: 91F/33C H i g h s : 9 1 F / 3 3 C Antigua A n t i g u a Highs: 88F/31C H i g h s : 8 8 F / 3 1 C Barbados B a r b a d o s Highs: 87F/31C H i g h s : 8 7 F / 3 1 C Bermuda B e r m u d a Highs: 83F/28C H i g h s : 8 3 F / 2 8 C Atlanta Highs: 78F/26C Kingston Highs: 83F/28C Caracas Highs: 91F/33C Panama City Highs: 86F/30C Limon Highs: 89F/32C Managua Highs: 88F/31C Cozumel Highs: 88F/31C Belize Highs: 86F/30C C harlotte Highs: 77F/25C Charleston Highs: 82F/28C Savannah Highs: 85F/29C Pensacola Highs: 86F/30C Daytona Beach Highs: 86F/30C Tampa Highs: 89F/32C Freeport Highs: 88F/31C Miami Highs: 88F/31C Nassau Highs: 90F/32C Havana Highs: 89F/32C Santiago de Cuba Highs: 85F/29C San Juan Highs: 89F/32C Santa Domingo Highs: 86F/30C Trinidad Tobago Highs: 92F/33C Port-au-Prince Highs: 85F/29C Cape Hatteras Highs: 76F/24C Aruba Curacao Highs: 91F/33C Antigua Highs: 88F/31C Barbados Highs: 87F/31C Bermuda Highs: 83F/28C INSURANCEMANAGEMENTTRACKINGMAP Showers Warm Cold Stationary Rain T-storms Flurries Snow IceShown is today's weather. Temperatures are today's highs and t onight's lows. N S EW S E 7-14 knots N S EW N S 4-8 knots N S EW N S 8-16 knots N S EW S E 6-12 knots N S EW S E 6-12 knots N S EW S E 7-14 knots N S EW S E 8-16 knots N S EW S E 8-16 knots D o you know that your favourite teacher can WIN $1000! Forfurtherinformationyoumayemailusat:NDTA@fidelitybahamas.com Nominate them today for the Sir Gerald Cash National Distinguished Teachers Awards!Fill out a nomination form today available at: www.fidelitygroup.com/ndta Winners will receive: $1000 & will be inducted into the NDTA Hall of Fame! Presented by: Nominations close on October 15, 2010th Dollar rises from 5-month low following jobs report JOBHUNTING: Guadalupe Corral, 20, right, fills out a job application for a retail position with Guess by Marciano store, at the End of Summer Job Fair, a one day event co-hosted at Citadel Outlets in partnership with the City of Commerce on Thursday, Sept. 16, 2010, in Commerce, Calif. Applications for unemployment benefits fell for the third time in four weeks, and wholesale prices rose. The jobless rate is expected to remain above 9 percent well into next year. SHOWINGAPPLICATION: Tamara Tillman, left, and Lorena Garcia, right, fill applications for a sales associate position at the End of Summer Job Fair. D a m i a n D o v a r g a n e s / A P P h o t o A BOVE LEFT

PAGE 12

By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net N EW DELHI, India On Thursday, half of Team Bahamas tennis players arrived to join the contingent of track and field competitors, cyclists and boxers waiting to represent our country at the XIX Commonwealth Games. While all of the track and field athletes with the exception of Donald Thomas (expected to arrive October 2) have settled in along with the two boxers and two of t hree cyclists (Mark H olowesko withdrew), coach L eo Rolle and female player N ikkita Fountain were the latest to arrive. They came into the games village yesterday along with assistant boxing coach Floyd Seymour from Washington D.C. and physiotherapist Cottrice RobertsRobinson from Grand Bahama. Chef de mission Roy Colebrooke, who arrived ahead of the team to ensure that everything was in order, said the Bahamas is looking pretty good. With me being a hotelier, with a new facility like this being opened, you will have some clean up challenges and that is exactly what it was, he said. There was no need to cry about anything. I think what needed to happen was everybody just needed to pull together and get the job done. That is exactly what happened when I got here with persons who were hired to do that job. Musgrove said he has been to many sporting events and these accommodations have surpassed most of them. So I dont know why there were so many complaints about the preparation of the games. During the Bahamas flag raising ceremony on Tuesday, Musgrove was highlighted in the local daily newspapers for the stance he took against those countries who cried shame on India. When we look at what the games stand, its about bringing the Commonwealth nations together and so if we run into this kind o f situation, I believe that i nstead of pointing fingers, we should bind together and help to ensure that these games in India be the best games for the Commonwealth, he said. Ive been to other games. Theyve had their challenges. There are no games that go on without their challenges. Sure India had some rain, but that was an act of God. But after the rain, they went ahead and put some measures in place to get the ground facilities in order and that is what they did. Musgrove said those persons who accused India of not being fully ready to host the games would probably want to take those words back now when they look at what has t ranspired in getting the facili ties ready. Tim Munnings, the deputy chef de mission, said he couldnt agree more with Colebrooke. My expectations when I first came here were a bit low because of what I seen reported in the press, but I was extremely pleased when I went into the rooms and saw the accommodations, Munnings said. The space was impressive, the bathrooms were very clean. Im sure they had to do a lot of cleaning up. But each room, the cafeteria, everywhere has air-condition, so all of the athletes are comfortable. The only struggle is the inconsistent Internet service, but the Internet goes off at home, so theyre working on it and were doing the best we can. We dont need the Internet to compete. This is really about the athletes, so were trying to ensure that they are as comfortable as they can be. While coach Rolle and Fountain made it in yesterday, Grand Bahamian tennisp layer Larikah Russell was due in by today. The male players Marvin Rolle, Devin Munnings and Rodney Carey Jr from Grand Bahama are scheduled to arrive before the opening on Sunday. F or Rolle, the trip for him and Fountain was long and tiring, especially considering the fact that they both arrived without their luggage. Anytime you are travel ling on this side of the world, y ou have to be prepared for a Junior sailors prepare for the Optimist National Championship FIFTY junior sailors from Long Island, Governors Har bour, Harbour Island, Abaco and Freeport and 30 from Nassau are expected to compete for the Bahamas Optimist National Open Champi onship 2010 October 2-3 in Montagu Bay. C M Y K C M Y K FRIDAY, OCTOBER 1, 2010 THETRIBUNE PAGE 11 P AGE 10 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Comets strike out Saints, 18-3 QUEENS College Comets senior girls went on the road and defeated the Kingsway Academy Saints, 18-3. The Bahamas Amateur Indepen d ent Secondary Schools (BAISS softball season got underway on Tuesday afternoon. On the mound for the Comets was three-sport star Alex Marshall, known for her prowess on the basketball court, who pitched a stellar game for the win. The Comets took control in the opening inning and never relin quished the lead en route to the lopsided win. The Comets moved to 1-0 on the season while the Saints fell to 0-1. S S O O F F T T B B A A L L L L LOPSIDED WIN: Senior girls on the softball field Tuesday. SEE more photos page 9 Everything seems to be quite in order at the Commonwealth Games... S ee page 9 P h o t o s b y K e r m i t T a y l o r THE XIX COMMONWEALTH GAMES NEW DELHI 2010 THE TRIBUNE SCOTTSDALE Vixens took the victory in three sets 25-9, 25-13 and 25-9 against Champions Club as New Providence Volleyball Association (NPVA continued Wednesday night at the D W Davis Gymnasium. Krystel Rolle led all scorers with 12 points in the win while Samantha Forbes fin ished with two points in a losing effort. The mens feature was another three-setter as the Technicians defeated the Saints 25-17, 26-24 and 2522. Derek Walkine finished with nine points for the win and Chauncey Cooper scored seven in the loss. Also last week Sunday, the Johnsons Lady Truckers beat the COB Lady Caribs 18-25, 25-8, 25-12 and 25-18. Davia Moss and Anastacia Sands-Moultrie led the Truckers with 12 and five points respectively in the win. In the losing effort, Diandra Sands scored 12 points, five of which were service aces. On the mens side, the Intruders improved their record to 2-0 by defeating DaBasement Crimestoppers 25-13, 22-25, 31-29, 24-26 and 16-14 who dropped to 0-2 early in the season. Prince and Arison Wilson led the charge with 27 and 18 points respectively to secure the win. Muller Petit and John Rolle both came up with 18 points in the loss. And on September 25, the Lady Techs needed four sets to defeat the Lady Caribs 25-17, 16-25, 25-16 and 2514. Sherry Whylly led the Techs and all scorers with 11 points for the win and Krystal Delancy scored eight for the Lady Caribs. In mens action, the Scotia Defenders disposed of the Youthful Saints 25-18, 2519 and 25-17. Shedrick Forbes and Jamaal Ferguson led all scorers with 16 and nine points respectively. Lorenzo Williams and Chauncey Cooper both scored six points for the Saints. V ixens beat Champs Club Technicians def eat Saints Team Bahamas settling in, looking pretty good S S E E E E p p a a g g e e 9 9 By RENALDO DORSETT Sports Reporter rdorsett@tribunemedia.net PAIRED with two different crews over the course of the two-day competition, one half of the defending Snipe Nationals champion was able to reclaim the title in 2010. Robert Dunkley and crew Shaquille Dean/Michelle Hope finished well ahead of the competition in the final points standings of the Bahamas Sailing Associations (BSAs Nationals over the weekend in Montagu Bay. Dunkley and Dean posted a dominating day one when they captured first place fin ishes in all three races. On day two, Dunkley and Hope finished third in race three, fourth in race five, but rebounded to end the event on a winning note with a first place finish in the finale. The team finished with a final score of seven points overall. Jimme Lowe and Carmeron Symonette finished second overall with 13 points, Dwayne Wallis and Lee McCoy were third with 14 points, Fernando de Carde nas and Kim Pyfrom fourth with 17, Gavin McKinney and Donico Brown fifth with 18, Lori Lowe and Maria Aaboe sixth with 26 while Chris Sands and Adam Russell rounded out the field with 29 points. Seven boats contested the championship which has been in existence for more than 40 years. Dunkley won the 2009 nationals alongside crew BJ Burrows. The Snipe class features a 15 and-a-half foot, two-person, one-design racing dinghy. The boat is recognised by the International Sailing Federation (ISF Class and is sailed in 26 different countries worldwide. One of the most all-inclusive sailing classes, it is con tested by all persons of varying age, weight, or sex, with co-ed draws popular in inter national competition. Lori Lowe, fleet captain for the Snipe Class, was one of four sailors to represent the Bahamas in Snipe Class at the XXI Central American and Caribbean Games in Mayaguez, Puerto Rico. Along with crew Michael Holowesko, the team placed seventh with 36 points while Jimmie Lowe and crew Cameron Symonette was fifth with 29 points. Lowe said the Snipe class continues to be on the rise, due in large part to the BSA summer programme. The growth of the class has fluctuated over the years. There have been championships where we have seen as many Dunkley and crew win Snipe Nationals OPTIMIST OPEN: About 50 junior sailors from Long Island, Governors Harbour, Harbour Island, Abaco and Freeport and 30 from Nassau are expected to compete this weekend (October 2-3 the Bahamas Optimist National Open Championship 2010. S S E E E E p p a a g g e e 9 9

PAGE 13

SAFE ARRIVAL: On Thursday, half of Team Bahamas tennis players arrived to join the contingent of track and field competitors, cyclists and boxers waiting to represent the Bahamas at the XIX Commonwealth Games in New Delhi, India. Above: Brent Stubbs, senior reporter at The Tribune (right By BRENT STUBBS NEW DELHI, India The XIX Commonwealth Games is set to start Sunday and, from the looks of things, everything seems to be quitein order. I must say that the organising committee has done a fantastic job, contrary to the negative media reports that came out of India over the last few weeks. On arrival here at the games village, I was pleasantly surprised to find the accommodations more than adequate for the athletes and officials. Let me take you back a bit. The news circulating from India was that too many countries and athletes were pulling out because of the shabby preparation with regard to getting the facilities ready. There was a report of the games village being uninhabitable and a bridge collapsing near the national stadium where the opening and closing ceremonies as well as the athletic (track and field going to take place. After taking a 13-plus hour trip from New York to New Delhi on Wednesday, when I arrived at the International Airport with physio-therapist Cottrice Roberts-Robinson from Grand Bahama, assistant boxing coach Floyd Seymour, tennis coach Leo Rolle and female player Nikkita Fountain, we were all greeted with a host of local personnel, who were eager to usher us through the immigration check. We were escorted to a waiting area where we had light refreshments as they checked our accreditation and then once we got our bags (those that arrived were whisked off on a one-hour bus ride to the games village. On the way, we passed through the busy thoroughfares with the police escort on the designated Commonwealth Games lanes and we made our way to the games village where we were properly accredited. There, we met assistant chef de mission Tim Munnings and eventually chef de mission Roy Colebrooke, who both gave us a brief tour as we proceeded to the dormitories for the Bahamas. I have to agree with both Munnings and Colebrooke, having travelled to numerous Commonwealth and Olympic Games, the facilities here are sec-ond to none. And Colebrooke was quoted in yesterdays newspapers in New Delhi that all those who have been complaining should have been lending a hand to ensure that the games are up to standard. There are a few minor hitches, the main one being the Internet facilities on each floor, but for the most part, everything appears to be in order for what should turn out to be a fantastic game. Once we viewed a portion of the facilities where the Bahamian team will reside for the next three weeks, we headed to the cafeteria where there were a variety of foods and salads to choose from western, African, Asian, Indian, Tandori, pizza, vegetarian, desserts and drinks. The good thing is the facility is open 24 hours so you can go back as many times as you want. In the cafeteria, we met the remainder of the Bahamian contingent, mainly the track and field squad, whom had settled in from Monday and they were all in high spirits. Looking around at the facilities, there wasnt any shortage of anything for the athletes to immerse themselves into. There was a web caf, laundry area, entertainment center, game room, you name it and they have it. Like one of the athletes said: Theres no need to leave the games village for anything. Adjacent to the village is a stateof-the-art sporting facility that includes track and field, a weight room and swimming complex, and facilities for wrestling and para-athletes. As an athlete, competing at these games should be a treat. Just so sorry that so many of the big name athletes decided to skip the long trek here, either because of injuries or they were burnt out from the long season. The good news is that there are still a lot of athletes here, although the exact list of entries has not yet been released, so this should be an event of uncertainty, where the athletes being best prepared at this time should be able to rise to the top. The games have taken a bashing even before they get underway. But the preparations have not been as bad as indicated. I just think that with the way the organising committee has pulled these games together, they will go on as one to remember for years to come. October 3-14, India will be on display as they host the games (held every four years) for the first time. So far, from what Ive seen, theyre on their way to make this an exciting one for all to see and take part. C M Y K C M Y K LOCAL SPORTS TRIBUNE SPORTS FRIDAY, OCTOBER 1, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM QC senior girls blow out Kingsway Academy LOPSIDED WIN: Senior girls on the softball field Tuesday as the BAISS softball season got underway Tuesday afternoon. The Comets won 18-3. P h o t o s b y K e r m i t T a y l o r Team Bahamas settling in, looking pretty good lot of physical wear and tear, especially after taking the 13-hour flight, Rolle stressed. But Nikkita is holding up pretty good. We also expect Larikah to be here today and the guys will be com ing in on Friday. I would have liked to see them here earlier so they can get acclimatized to the conditions, but thats a part of life. Rolles son, Marvin, is coming from California where he was com peting in a tournament while Munnings and Carey, are both com ing from Florida. All three were wait ing on their Indian visas to travel. Floyd Seymour will join his cousin, national coach Andre Seymour, as they work in the corners of Valentino Knowles and Carl Hield in the boxing arena. This is the first time that (Floyd chance to work with the national team. And he is beaming with excitement. I couldnt wait to get here to work with the Bahamian boxers and the rest of the team, said Seymour, a physical trainer and boxing coach in Washington where he resides. So Im excited. For the past several years, I have been working with the American amateur boxers, including some of whom competed at the 2008 Olympic Games. I always got the question: Floyd, when are you going to work with the Bahamian team? I said I was always here. I never left. So when Andre called me and told me he got to work with him, I was just thrilled. Its an awesome feeling to be working with my peo ple. Mark Holowesko reportedly has an illness in his family and he sent an e-mail to the Bahamas Olympic Committee, informing them that he regrettably wont be able to travel and compete. He sent his apologies and expressed his disappointment that he cant come. He said he really wanted to compete, said Musgrove, indicating the contents of Holoweskos message to the rest of the team. Dunkley and crew win Snipe Nationals as 15 boats and as little as five but its popularity is on the rise again," Lowe said. We expect four junior boats to sail with us as a part of the fleet. One of the main reasons the popularity of the class continues to increase is because of the impact the BSA summer programme has had in attracting new talent with the younger kids in schools." The BSA hosted the fifth edition of its Summer Sailing Programme at the Nassau Yacht Club which is aimed at targeting beginners of the sport. It featured scores of students between the ages of eight and 15 (boys and girls from public and private schools throughout the coun try) interested in learning to sail or competitive sailing. Many of them have gone on to represent the Bahamas at the international level. Sailing camps were also held in Harbour Island and Long Island where more students were able to take advantage of the programme. Some of the programmes alumni who have gone on to achieve national and interna tional success include Danny de Cardenas, two-time Opti mist Nationals winner and defending champion, and Donico Brown, who represented the Bahamas at last years World Championships in Brazil. A host of other young sailors have gone on to compete in international compe tition, including Christopher Sands, Michael Holowesko, Michael Gibson and Brent Burrows Jr, along with Long Island's Torrington Cartwright who represented the Bahamas at the 2009 International Junior Sunfish Nationals. F F R R O O M M p p a a g g e e 1 1 1 1 F F R R O O M M p p a a g g e e 1 1 1 1 Everything seems to be quite in order at 2010 XIX Commonwealth Games OPINION STUBBS


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Pim blowin’ it
HIGH 90F
LOW 75F

MOSTLY CLOUDY,
ony FSTORMS

Volume: 106 No.260

Cordell Farrington
locked up

Tim Clarke/Tribune staff

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

THE horrifying details of how
four young boys died at the
hands of perverted Cordell Far-
rington were revealed to their
grieving families yesterday.

Relatives listened in disbelief
as prosecutors disclosed the sor-
did and gruesome circumstances
surrounding their killings on
Grand Bahama seven years ago.

The court heard how 43-year-
old Farrington picked up Mack-
inson Colas, 11, Junior Reme,
11, Deangelo McKenzie, 13, and




WHY ARE SO MANY
be eee ce

Faster
ter Ee
Pte i
eee aoe

itp ade ee
Bahamian-owned
Miami-Freeport-Nassau

ASK US TO QUOTE YOU:
Tz: 393-2628 - FAX: 394-0847
E: MAILBOAT@CORALWAVE.COM



TEARS OUTSIDE COURT: Grieving family members (above and far rah)
of the victims had to leave court yesterday as emotions ran high.
Cordell Farrington (centre) was sentenced to life imprisonment.

ree ees) t ora

The Tribune

=USA TODAY.
BAHAMAS EDITION

www.tribune242.com

FRIDAY, OCTOBER 1, 2010



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



for life








Desmond Rolle, 14. He bru- |
tally attacked them and hid
their bodies in secluded
areas, only to return weeks
later to collect the remains
and store them in boxes at
the home of his unsuspect-
ing former girlfriend.

The revelations during
Farrington’s sentencing
hearing yesterday sparked
an emotional outburst from
members of the victims’ fam-
ilies who sobbed uncontrol-
lably and had to be ushered
out of the court.

SEE page eight



FAMILY OF MAN SHOT DEAD BY POLICE
: ACQUIRE LEGAL COUNSEL

! CHRISTIE: PM HAS SOURED PUBLIC
_ OPINION ABOUT BAHA MAR DEAL

: FORMER PM REGRETS NOT SELLING BIC

GR Sweeting's

T

Coming Soon.Jo Harbour Bay...





NASSAU AND BAHAMA ISLANDS? LEADING NEWSPAPER
THE TRIBUNE

FRIDAY, OCTOBER 1, 2010, PAGE 5



Many senior citizens ‘deprived

of homes, property and pension’

COUNTLESS numbers of
senior citizens in the country
are being deprived of their
homes, property and even
their old age pension, accord-
ing to Minister of State in the
Ministry of Labour and Social
Development Loretta Butler-
Turner said.

And with some Bahamian
families unable or unwilling
to assist their older relatives,
the Department of Social Ser-
vices is frequently expected to
house those neglected seniors
and take care of their needs,
she said.

Speaking during a press
conference on Monday to
announce the schedule of
activities for Older Persons
Month, Mrs Butler-Turner
said:

“Unfortunately, these peo-
ple do not believe that their
seniors are their responsibility.
The attitude is that they can-
not afford to care for their
parents or relatives financial-

“Hence, we must take the
role as caregivers and must
protect them from abuse and
exploitation.”

She said individuals must
be cognisant of the needs and
rights of the older, more vul-
nerable members of our soci-
ety.

“These rights include inde-
pendence, participation, care,
self-fulfillment and dignity.”

Mrs Butler-Turner
explained that the United
Nations states that the rapid
growth of the number of older
persons could result in
increased poverty, decline in
housing and healthcare.

Therefore, she said, it is
very fitting that the Bahamas
has adopted the United
Nations theme ‘Older Persons
and the Achievement of the

Suspended students confront
parents about existence of gangs





























ANNOUNCEMENT: Minister of
State in the Ministry of Labour
and Social Development the
Loretta Butler-Turner (left)
announces the activities for Old-
er Persons Month being cele-
brated in the month of October at
a press conference. Sitting on
the right is administrator of the
Persis Rogers Home and Nation-
al Council on Older Persons
member Francis Laedee.
Letisha Henderson/BIS

Millennium Development
Goals’.

These goals are: eradicat-
ing extreme poverty and
hunger; achieving universal
primary education; promoting
gender equality and empow-
ering women; reducing child
mortality rate; improving
maternal health; combatting
HIV/AIDS, malaria and other
diseases; ensuring environ-
mental sustainability and
developing a global partner-
ship for development.

Mrs Butler-Turner said the
Senior Citizens Division along
with other officers of the

SCHEDULE OF ACTIVITIES FOR OLDER PERSONS MONTH

DURING the month of October — designated as Older Persons
Month — several activities will be hosted by the Department of Social
Services in partnership with the National Council on Older Persons to
highlight issues, concerns and accomplishments related to senior cit-
izens.

Today, a church service will be held at St Francis Xavier Cathedral,
West Street.

An exhibit will be held this coming Tuesday in the foyer of the
Clarence Bain Building that is designed to create a sense of awareness
regarding items that were utilised many years ago.

There will also be a workshop on Dementia on Thursday, October
14, at the Transfiguration Church Hall that will inform on how to
care for persons experiencing the ailment.

On Friday, October 22, the computer closing exercise will take
place. The purpose of the classes is to give older persons the intro-
ductory information on modern technology. Then there will be a fun
day for persons in group homes/rental units and urban renewal
areas,

On Monday, October 25, the ministry will host its annual Nation
Builder Award Ceremony, which will be held at Government House.

Special awards will be presented to 10 older persons and unsung
heroes, drawn from nominations throughout the Bahamas, for their
contributions to the development of the country.

Department of Social Services
throughout the Family Islands
will continue to ensure the
enactment of the Millennium
Development Goals, while
examining closely the aging of
our population.

UC) fer: ||

Pest Control
322-2157

Exterminators

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

A GROUP of suspended students from a
North Western District junior high school con-
fronted their parents on Thursday about the
existence of gangs.

They did so in a reconciliation meeting with
Superintendent Leon Bethel from the Cen-
tral Detective Unit (CDU) and Pastor Carlos
Reid of the Hope Centre Ministries.

The meeting was a first of its kind, intended
to foster a relationship between the families,
the police and the children. Supt Bethel said
the police were looking to partner with the
community to “reform minds” and not just
“lock up kids.”

He said the “animosity” between children
remains even after someone is locked up, so
additional intervention is needed. He said the
“hatred” between the students grows over
time when the root of the problem is not
addressed.

The boys, ranging in age from 11 to 14, rat-
tled off the names of over 15 gangs they claim
are present in their school: the Gun Dogs and
Gun Hawks, Yen, R&R, Westside Jubilee,
Dirty South, Swampers, Mason Murderers,
Pinewood Niggas, to name a few.

They all have a corresponding community
and territory on the school compound.

Principals will deny the fact that gangs exist,
according to Pastor Reid, because some of
them fear they might “lose their job.” In the
minds of the children, he says, it sends the
message that “we live in a false world.”

Fighting

“Either you are blind, dumb or you are try-
ing to cover up the fact that you have a prob-
lem. I have had students tell me how they
have to jump the school fence before the bell
rings just to get out. I have even run into stu-
dents who dropped out of school because they
were tired of fighting; they were out num-
bered and tired of having to defend them-
selves. That is the culture we are in now,” said
Pastor Reid.

The pavilion at one junior school, for exam-
ple, is said to controlled by the Raiders. One
mother, said her son told her, “boys come by
the pavilion and push their hand in your pock-
et and steal your lunch money.” Her son had
his school bag stolen and cut up during the
first week of school.

She said her son appears to be “shifting his
character” at school to fit in, and the changes
are now starting to spill over at home. Pastor
Reid said she was not alone, because he has
counselled students who say they fail exams
intentionally, so they do not stand out.

The faces of some mothers showed a clear
expression of surprise that gangs exist, and
their children were aware. The meeting pro-
vided an opportunity for the parents to express
their frustration and assist in coming up with
solutions to the problem.

One of the mothers had earlier discounted
the presence of gangs, saying anytime a group
of boys are together they are said to be in a

gang. She said her son is not in a gang, but he
is sometimes forced to defend himself.

Another mother said she once witnessed a
group of “outside boys” verbally harassing
random students in front of her son’s school.
She said the boys ripped the pocked off a
female student’s blouse and stole her money
before running off.

In the past few days, she said school admin-
istrators started escorting students to the bus
stop, which was a helpful initiative.

One of the grade nine boys said he did not
feel threatened in school because “most of
them are scared of me.” He said his record of
fighting goes back to grade 7. Fighting was a
necessity, he said, in order to prove himself.

One parent said she did not want her son to
feel he had to take matters into his own hands.
He wanted him to learn to use the proper
channels.

Retaliate

One of the suspended boys said this was
not practical, because students retaliate when
they are reported to the authorities.

He said, an incident that may have been
between two students would definitely escalate
into a fight between two gangs.

“Some of them, after you do that they will
come back and beat you, and they will gang
you this time,” he said.

Pastor Reid explained to the parents that
“every area has a crew,” and the parents are
not informed because “they know you gone
pop their neck.” He said the boys do not want
to be in gangs, but they feel forced to align
themselves with a faction in order to protect
themselves.

“Students are aligning themselves with var-
10US groups.

“We label them as gangs because (their
behaviour is) moving towards the negative. I
would be naive if I were to say to you they did
not exist. Some of them are more hostile than
others, but as we have read of gangs and seen
them on the television, I don't think we have
gotten to that point,” said Howard Newbold,
superintendent of the North Western District.

“T have been in education for 40 years. We
have seen symbols of students who claim they
are affiliated with gangs.

“Many of them attach themselves to groups
for many reasons, for safety reasons, and to
attach themselves for positive reasons, like
going to a friend to study,” said Mr Newbold.

“When I was in school there were groups of
students who would move together, but we
weren't gangs in the negative sense. What we
did would have been positive.

“There was a safeguard in the numbers. I
believe that is philosophically what is hap-
pening,” he said.

Pastor Reid agrees that youth gangs in the
Bahamas are not as organised as American
gangs, but he insists that is the direction in
which the Bahamas is headed.

He said gang activity accounts for a lot of the
bullying, petty theft, school stabbing, and cross
rivalry, but there has recently been a branch-
ing out into more serious activity, such as car
theft and housebreak-ins.

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BEC continues with planned
upgrades at power plant

By REUBEN SHEARER
Tribune Staff Reporter
rshearer@tribunemedia.net

IN ITS ongoing effort to improve electricity supply
to more than 8,000 customers in Abaco, the Bahamas
Electricity Corporation is continuing with planned
upgrades at the new Wilson City Power Plant, now in
its final testing phase.

The upgrades will improve electricity supply on the
island, and residents will no longer experience black-
outs due to load shedding, a statement from the corpo-
ration said.

BEC went on to accept responsibility for the recent
outages on Abaco, explaining that it became necessary
to maintain a balance between demand and generation
capacity until the power station is properly function-
ing.

The purpose of the new power plant is to provide
additional capacity to support the corporation’s Marsh
Harbour facility, which is incapable of fulfilling Aba-
co’s growing power needs.

BEC requested the patience of Abaco residents as
they work “feverishly to bring the Wilson City Power
Plant back online and provide seamless electricity sup-
ply to customers.

“We hope that future outages will be kept to a mini-
mum as we go through this brief testing phase,” said a
BEC official.

Scripture Thought
LUKE 11:44-46

44, Woe to you, scribes and Pharisees,
hypocrites![g] For you are like graves
which are not seen, and the men who
walk over them are not aware of
them.”

45. Then one of the lawyers answered and
said to Him, “Teacher, by saying
these things You reproach us also.”

46. And He said, “Woe to you also, lawyers!
For you load men with burdens hard
to bear, and you yourselves do not
touch the burdens with one of your
fingers.

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PAGE 6, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE





The Baha Mar saga has
haunted nation for years
TONG ANAT

By ADRIAN GIBSON
ajbahama@hotmail.com

FROM THE outset, the
proposed project to rede-
velop Cable Beach (Baha
Mar) seemed unjustifiable
as there’s no volume of
business to rationalize such
a massive investment, which
appeared destined to
become nothing short of a
white elephant. Since the
early days, the so-called
redevelopment project has
been on the brink of total
collapse, languishing in a

ADRIA

perpetual state of dorman-
cy.

The Baha Mar saga can
be likened to a ghost story,
that is, one that has haunted
the nation for years but
remains an economic pol-
tergeist. Will it ever come
to fruition, emerging from
the vividly make-believe

| 3 S © IN

world of the developers’
imagination to something
that is tangible, that the
Bahamas can be proud of?

The Baha Mar deal has
been shrouded in mystery
and riddled with top-secret
clauses and fire-sale con-
cessions from the time that
it was initially brought into



ee eee

LEFT-RIGHT: Sheryl Knowles, Pinewood Urban Renewal; Constable Chester Walker; Kindrick Rolle,

Organiser; MP Bryan Woodside, sponsor; Edward Curling, sponsor; Bishop George Barr Jr; Ken John-

son, Christian Massive.

THE second annual Stop the Violence com-
munity festival will be held today and tomor-
row at Pinewood Park, under the theme “More
On Friday, between
Spm and 11pm, there will be a gospel jam-
boree featuring community choirs, dance
groups, drama groups and gospel artists. The
night will end with a candle-light community

peace on our streets.”

prayer.

rush.

games.

On Saturday, there will be a cultural fair
and concert, beginning at 6am with a fun-walk
and health screening. This will be followed by
a souse-out, live performances, marching
bands, games and competitions and a junkanoo

There will be a Kids Corner featuring a
bouncing castle, face painting and slides and

NATIONAL
YOUTH
MONTH

ACTIVITIES

the public’s consciousness.
Frankly, although the cur-
rent administration has
sought to renegotiate the
deal, it has represented a
reckless gargantuan han-
dover of public land on a
silver platter for nothing
more than a jar full of shiny
beads!

Since the giveaway of a
hotel and hundreds of acres
of publicly-owned prime
land on Cable Beach, all
I’ve seen thus far are fanci-
ful visual representations of
Baha Mar’s dreams that are
repeatedly paraded on
nightly newscasts, the clo-
sure of the Nassau Beach
hotel and legal squabbles
between the developers and
their financiers.

Financiers

The great land giveaways
by the former government
has been, in some cases, to
several carpetbagger devel-
opers who are more com-
parable to land speculators,
as they don’t have the
monies and must search for
financiers and/or earn capi-
tal from selling lots for hun-
dreds of thousands of dol-
lars. In some instances, it
appears that Bahamian
Crown land has been given
away for 30 pieces of silver
to mere amateurs who
know little about the devel-
opment of resort properties.

Honestly, it has been a
while since we’ve had a
major project in the ilk of
Atlantis, Paradise Island.

The decision of Prime
Minister Hubert Ingraham
to temporarily shelve a con-
troversial labour resolution
for the Baha Mar project
was representative of the
classically good common
sense for which the PM has
become known.

It would have been fool-
ish for the government to
pass a favourable resolution
for Baha Mar when they
have a yet unsettled loan
with Scotia Bank for more
than $200 million and with
the China Export-Import
Bank refusing to release
financing because they are
secking to use the proper-
ties on Cable Beach (the
Sheraton and Wyndham
resorts) as collateral to
secure their loans. So, what
are the implications for the
Bahamas if Baha Mar
defaults on yet another
loan? How can they repay
$2.6 billion when it appears
that they have serious diffi-
culties paying back $200
million? Has Baha Mar paid
outstanding government
taxes and, if not, when will
they do so? There is too
much at stake here.

The economic downturn
in the US makes the Baha
Mar project seem even
more far fetched, since an
ongoing recession means
that many of the potential
80 per cent of American
tourists who annually visit
our shores will be more pro-
tective of their discretionary
income and therefore not
travel.

Even more, the absurd
request for more than 8,150
work permits for Chinese

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

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

and other foreign workers
to come to the Bahamas to
participate in the re-devel-
opment project is simply
unconscionable. Moreover,
the Prime Minister is
right—there will be little to
no transfer of knowledge to
locals!

If the developers can
default on a $200 million
loan with Scotia Bank, to
the point that they could
only achieve a resolution on
“the broad parameters of an
appropriate settlement,” the
Prime Minister must have
considered the damning
consequences for such an
extensive, exclusive strip of
land (Cable Beach) if the
principals behind Baha Mar
default on repayment of the
Chinese loan. Put simply,
the xenophobic fears of
Creole becoming an official
national language would be
surpassed by the notion that
Mandarin will become the
mandatory second lan-
guage—at least the lan-
guage for business transac-
tions—and the Chinese
would control a large seg-
ment of our tourism product
and arguably the best strip
of property on New Provi-
dence.

The Prime Minister, in
discussing Baha Mar, said it
best when he stated:

"We also have to take
into account reality. We
have operating down in
Cable Beach now a number
of hotel rooms — a number
of them are closed now,
including the casino. Well if
Thave difficulty dealing with
less than 1,800 rooms what
is it likely to be the case if I
put 3,500 rooms there?
What makes me feel and
what gives me the level of
confidence that all of a sud-
den I've become a magician
in terms of the management
of a hotel and I'm going to
have avery successful oper-
ation with high levels of
occupancy and good levels
of revenue to repay the loan
of $2.4 billion?

Loan

"And if I am having dis-
cussions about the question
of repaying a loan of $200
million that is dragging on
and on, does that raise any
question that I ought to be
concerned with? These are
all matters that the govern-
ment has to be concerned
with.

"My duty is to do what I
think is best for the Bahami-
an people and we are con-
sidering and pondering all
these matters before we
give formal consideration".

Amen to that!

Seemingly, the PM is
ensuring that Bahamians
are not, yet again, raped of
their patrimony in yet
another land grab. Frankly,
the Baha Mar deal should
be entirely renegotiated or
nixed!

TERRIBLE SERVICE
OF CABLE BAHAMAS!

With all of its fancy TV
commercials promoting its
move to a digital format,
Cable Bahamas must
improve its internet service.
From Monday to sometime
after 1pm yesterday, I had
been inconvenienced and
without internet service.

Frankly, the response
time for technicians is unac-
ceptable and there is no
acceptable excuse for my
failures with internet con-
nectivity.

As I have indicated to
their customer service rep-
resentative, I expect my
account to be credited for
the days that I was without
service. Surely, Cable
Bahamas should know that
internet service and quick
responses to failures are
paramount in this age of
modern technology, e-com-
merce and instant commu-
nication. Whilst the cable
company is usually more
consistent than many of the
quasi-government utility
companies, the aforemen-
tioned should be duly not-
ed!

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 8, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE



LOCAL NEWS

Cordell Farrington

locked up for life

FROM page one

Farrington had already
pleaded guilty to manslaugh-
ter. In his confession, he
revealed how he picked up
the unsuspecting boys,
sodomised them and then
killed them. He told how he
hid their bodies at Barbary
Beach in eastern Grand
Bahama, returning weeks
later for their remains.

Sentencing Farrington to
life, Senior Justice Jon Isaacs
described the killings as
“horrific and not of some-
one who should be readmit-
ted into society.”

The court heard how Far-
rington, tired of killing,
walked into the Central
Police Station in Grand
Bahama, told police he sim-
ply could not take it any-
more and confessed to the
murder of 22-year-old
Jamaal Robbins — who he
claimed had been his lover —
as well as the murders of the
four boys. Farrington is
already serving a life sen-
tence for the death of Mr
Robbins.

Mackinson Colas went
missing on May 16, 2003. He
was last seen by his mother.

Farrington told police he
had picked the boy up on
Pioneer’s Way, Freeport. He
confessed that he took
Mackinson home, ordered
him to take a shower and
told him he was going to kill
him.

According to his state-
ment, Farrington said that
when the boy asked why he
had to kill him, he replied
by saying simply that he
“had to do it.”

Farrington told police he

bound the boy by his hands
and feet with duct tape and
struck him on the head sev-
eral times with a wooden
plank. He then put the boy’s
body in the trunk of his car,
drove to Barbary Beach and
buried him there. Two
weeks later he returned to
collect his remains.

An outburst by a sister of
the deceased prompted the
judge to order that all rela-
tives leave the court.

“You took my brother
from me. You are supposed
to die,” the woman shout-
ed.

Deangelo McKenzie was
last seen by his grandfather
on May 27, 2003. Farrington
told police he picked up the
boy in the parking lot of the
Church of God while he was
heading home from school.
He said he had asked the
boy to go home with him to
pick up some equipment for
the church. He confessed
that he took the boy home
and had sex with him twice.
He asked the boy about his
family and told him he was
going to have to kill him. He
said the boy told him that
he only wanted to go to
school and have a good edu-
cation.

Farrington then bound the
boy with duct tape and hit
him in the head several
times with a wooden plank.
He then put the boy’s body
in the trunk of his car and
drove to Barbary Beach
where he hid the body.

Junior Reme was reported
missing on July 29, 2003, and
was last seen by his mother.

Farrington told police he
had picked the boy up at the
rear of Christ the King

RBC Royal Bank"

Anglican Church and took
him home. There he
ordered the boy to take a
shower but the boy refused.

Farrington told investiga-
tors that he bound the boy
with duct tape and the child
started to scream, so he
stabbed him in the neck with
a knife; all the while his own
son was in another room.
He told police he took the
boy’s body and put it in the
trunk of his car. He then
drove to Barbary Beach
where he hid the body. Far-
rington told police he was
sorry the boy had to die such
a horrible death.

Desmond Rolle was last
seen by is mother on Sep-
tember 28, 2003.

Farrington said he picked
the boy up at a park while
heading to William’s Town.
He told the boy he knew his
mother and brother, and
having gained his trust,
drove him to a bushy area
where he handcuffed and
raped him. Farrington then
slit the boy’s throat, took his
body back to his car and
committed a sex act. He
took the boy’s body to Bar-
bary Beach, slit open the
chest cavity, removed his
heart and severed his limbs.
Farrington told police he
was trying a “new way” to
kill.

Prosecutor Neil Brath-
waite said there was evi-
dence that Farrington had
also been involved in bes-
tiality, had been admitted to
Sandilands and had suffered
physical, emotional and psy-
chological abuse. He said
the prosecution had accept-
ed Farrington’s plea of guilt
to the charge of manslaugh-

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ter as he had acted with
diminished responsibility.

When asked whether he
had anything to say, Far-
rington broke into tears in
the prisoner’s dock.

He said: “I didn’t fully
understand what happened
but I ask for forgiveness
from the family members.”

His attorney Ramona Far-
quharson noted that Far-
rington had confessed to the
crimes and had suffered
from a severe personality
disorder. She submitted that
prior to committing the
offences he had been a pro-

LIFE SENTENCE: Cordell Farrington outside of court yesterday.

= eo

ductive and law-abiding cit-
izen.

In sentencing Farrington,
Senior Justice Isaacs noted
that the promising lives of
four young boys had been
snuffed out and that the
court could show no further
degree of mercy to Farring-
ton other than what had
already been afforded him.
He also noted that Farring-
ton reportedly suffered from
a severe personality disor-
der. Senior Justice Isaacs
described the killings as
“horrific and not of some-
one who should be readmit-



ted into society.”

He sentenced Farrington
to life imprisonment on each
of the four counts. The
judge stated that while in
prison he would receive the
counselling he needs. The
court hoped that he would
spend the rest of his natural
life in jail.

Relatives of the deceased
refused to speak after the
hearing.

Farrington’s attorney said:
“T think there is a sense of
relief that everything has
finally come to a conclu-
sion.”

Family of man
shot dead by
police acquire
legal counsel

FROM page three

members that required intervention.

Reginald’s daughter Nickell said her
father may have retorted if someone
approached him and treated him like a
vagrant, because he was a proud man and
often did not stay quiet when disrespected.

“If someone spoke to him in a demeaning
way, he would say, ‘I have children your
age, let me give you their business card.
Obviously you don’t know how to talk to
me; let me send you to my educated children
so they can teach you how to talk to peo-
ple’,” said Nickell.

The most problem he would cause, she
said, is that his words “would cut you.” She
said her father had no need to beg, because
he had strong family support.

The family is concerned about the dis-
crepancies between eye witness accounts
and police reports. They say, even if police
accounts are true, they should have acted in
a more professional manner to diffuse the
situation and provide help for their father.

“Ts that the order of the day, where a
police officer shoots someone and leaves
them on the road to bleed like a dead dog?
I am all for police protecting themselves,
but he was an old and frail man. If you
kicked him to the ground, why could you not
restrain him? Why did you have to dispense
your weapon?” Patrice asked.

Reginald was known by many names:
Morning George, Boy, Cisco. For some time
his daily routine was to leave his business
interests in Bain Town to visit his family
downtown. The route included a stop by his
brother George at the British Colonial
Development Company, his daughter Nick-
ell, who used to work at Fluid Club, and
then his daughter Shurie, who used to work
at Scotia Bank main branch.

After making his family rounds, he would
head back to the bus bay and catch a bus
over the hill, where he was in the process of
building an apartment building.

“He would have spent most of his days
sorting out his property. Other than that he
would be relaxing in front of his building
greeting whoever. He still was into exercis-
ing. He would swim on the beach by Long
Wharf, do a run by the fort, and he was
inside by 6pm. No time after 6pm would he
be outside,” said Nickell.

He started out as a kitchen steward at
Compass Point, when he first entered the
hospitality business. For about ten years
after that he served as a public transport
operator, running a taxi from the airport
and Paradise Island.



REGINALD ‘CISCO’ SMITH pictured with his fam-
ily. He was shot by police on Bay Street.

Shurie said people “prejudged” her father
because of his appearance, perhaps because
they saw a man with his hair grown.

“Tnitially they must have felt he had
nobody. It was a textbook case, open and
shut. They felt they didn’t have anyone with
sense to answer to, but we beg to differ,”
said Shurie.

“Even if they felt the action was justified
they should show some compassion. To me
they are being arrogant about it as though
they do not have to answer to anyone,” she
said.

The family says it is trying to shield its
young children from developing negative
feelings towards the police. The family is
now faced with that threat. Reginald has
several grandchildren.

“We want the truth to be known so our
children don’t grow up with that bitter taste
in their mouth against the police. When they
think about ‘Papa’, we want our kids to say
justice prevailed, not this is what happened
to Papa and nobody did anything about it,”
said Patrice.

“We don’t want that to dwell in our fam-
ily. We don’t want to hate the police, we
want to respect them. You want to grow up
you children in the light that they respect
authority. We want them to believe if they
live the right way, then justice will prevail,”
she said.

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


THE TRIBUNE 6

U



—

FRIDAY,

ne



OCTOBER

I



2010

SECTION B ¢ business@tribunemedia.net



Pl timeshare
97% sold-out

* Atlantis expecting full group
rebound in 2012, with
marginal comeback in 2011

* No fall Beach Tower closure
for first time

* Reef condo-tel shows
greatest occupancy increase,
with Atlantis occupancies set
to end 2010 above last year’s
levels

A

GEORGE MARKANTONIS

By CHESTER ROBARDS
Business Reporter
crobards@tribunmedia.net



Timeshare units in the Har-
borside complex on Paradise
Island are now 97 per cent
sold-out, Tribune Business
was told yesterday, with
Kerzner International expect-
ing Atlantis’s group business
to make a marginal comeback
next year before returning to
a semblance of pre-recession
levels in 2012.

George Markantonis,
Kerzner International
(Bahamas) managing direc-
tor and president, said
Atlantis’s overall year-over-
year occupancy levels show a
rebound in stopover visitor
numbers.

And while the group busi-
ness dynamics have changed
since the global financial crisis
and ensuing recession, book-
ings for 2011 will be above
2010. Mr Markantonis said
the large corporate retreats

SEE page 4B

78 jobs lost
as Sir Jack
evicts son

By NEIL HARTNELL
Tribune Business Editor

Some 78 Grand Bahama
residents were out of work
last night after the Port Group
Ltd affiliate that runs the Port
Lucaya Marketplace evicted
the three restaurant business-
es owned by Sir Jack Hay-
ward’s son, Rick, who told
Tribune Business last night:
“T’m incredibly, enormously
upset.”

Speaking to this newspaper
just hours after representa-
tives of Bourbon Street Ltd,
the Port Group/Grand
Bahama Port Authority sub-
sidiary that owns the Market-
place, locked him and his staff
out of the three properties -
La Dolce Vita, the Pub at
Port Lucaya and East - Mr
Hayward expressed his
unhappiness at being unable
to come to terms with the
landlord over a new
lease/rental agreement.

“Tm incredibly, enormous-
ly upset about the whole
thing, and that we couldn’t
come to an agreement. We’ve
got 78 people out of work. It
is totally unnecessary,” Mr
Hayward told Tribune Busi-
ness.

He referred to a potential
agreement that had previous-
ly been reached between him-
self, his company, LDV Ltd,
and the landlord in summer
2010, which involved Bour-
bon Street and the Port
Group forgiving the rental
debts - estimated at about
$500,000-$600,000 - in return
for handing East over to

SEE page 4B

Kerzner: No Phase
IV till Baha Mar end

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By CHESTER ROBARDS
Business Reporter
crobards@tribunmedia.net

KERZNER International
will not consider moving for-
ward with its Paradise Island
Phase IV expansion plans

LANDMARK: The world-renowned Atlantis resort on Paradise Island, which is a huge tourism draw.

until the $2.6 billion Baha
Mar project comes to a final
conclusion, its managing
director revealed to Tribune
Business yesterday, fearing
that the Bahamian resort mar-
ket would be “over-saturat-
ed” if new room inventory

Customs ‘detains’ firm’s 8
trailers over sales report

* Wholesaler and attorneys threaten legal action over
‘unlawful’ detention of goods, warning it placed
company’s business ‘in jeopardy’ and already

suffering financial losses

* Company already pays $1m in duties to Treasury per
annum, and executive says three more trailer imports
placed on hold until matter resolved

* Government revenues and product sales both
impacted, with high-demand products facing

possible inventory shortages

By NEIL HARTNELL
Tribune Business Editor

A leading Freeport whole-
saler is threatening to take legal
action against Bahamas Cus-
toms over the ‘unlawful deten-
tion’ of eight trailers’ worth of
imports, one of its executives
telling Tribune Business last
night that the situation was
harming both its sales and the
$1 million per annum duty con-
tribution it makes to the Gov-
ernment’s revenues.

Christopher Lowe, opera-
tions manager at Kelly’s
(Freeport) and a former Grand
Bahama Chamber of Com-
merce president, said the com-
pany had temporarily suspend-
ed the importation of three
more trailer loads of products
until the situation with Customs
was resolved, since there was
“not much point” in importing
them if they could not be sold.

Explaining that the situation
related to Customs’ demand for
Kelly’s (Freeport) to submit a
report to it on its bonded good
sales, and its threat to not clear
the company’s trailers until this
was received, Mr Lowe said the
company currently had 10 trail-
ers’ worth of imports it was
unable to receive.

“We have 10 trailers on the
ground, and three more trail-
ers we have put on hold with
the vendors,” Mr Lowe
explained, “as there’s not much
point in importing goods if you
are unable to clear the goods
and sell the goods.

“They’re hurting the Trea-
sury and the Government's rev-
enues more than us. We sub-
mit to them $1 million a year in
duty collected on their behalf.”

Mr Lowe said he was unable
to precisely detail the quantity
and value of products contained
in the trailers presently
detained by Customs, but said it
was “significant, because those
are the products that are replac-
ing the products that we are

SEE page 2B



was released at the same time.

George Markantonis said
Atlantis does not want to sat-
urate the room inventory of
Nassau/Paradise Island with
its planned Phase IV devel-

SEE page 3B








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

Bahama’ Health

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‘Reputation risk’
fear on financial
fraudster justice

* Senior attorney and QC warns that Bahamas must show
financial sector has ‘integrity and is first class’ by holding

white collar criminals to acc
*Adds that regulators must b

ount
e more proactive when ‘writing

is on the wall’ to prevent financial collapses, and do better

job on justice for investors p

ost-collapse

* Tells Tribune Business: ‘We've got to demonstrate through
actions and regulatory structures that if you rip off investors
in the Bahamas, you will be brought to justice and held

accountable for your conduct. It is only in that environment

investors feel comfortable in

By NEIL HARTNELL

Bahamian entities’

Tribune Business Editor

A leading attorney yesterday

expressed concern tha

t the

Bahamas was running “a real rep-
utational risk” because very few
fraudsters and wrongdoers respon-

sible for financial collapses

in this

nation had been brought to jus-

tice, while the regulators

rarely

failed to detect such problems in

their infancy.

Brian Moree QC, senior part-

ner at McKinney, Bancr

Hughes, told Tribune Business that

SEE page 2B

oft &

i
BRIAN MOREE



‘Desperate men do
desperate things’

By NEIL HARTNELL
Tribune Business Editor

“Desperate people take des-
perate measures” was how the
hedge fund financier for an
$857 million Bahamian resort
project yesterday labelled its
former partner, describing as
"outright lies" its allegations
that it “fabricated the unavail-
ability" of a key witness.

Responding to claims that it
misled Roger Stein, and his
RHS Ventures company, over
the unavailability of the man

SEE page 4B

Llc

a)!
[al

A DIVISION OF

&

FAMILY GUARDIAN .-

* $857m South Ocean
project financier hits
back at ‘outright lies’ of
former partner in bitter
courtroom battle

* Alleges that latest
claims an effort ‘to
obtain yet another delay’
to ratifying of arbitration
award removing him

ustomized group &

individual health plans

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overage after age 75

[1] 24/7 customer service

q/all of the above

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INSURANCE COMPANY LIMITED 7%

x


PAGE 2B, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE



Sea a 2
‘Reputation risk’

Customs ‘detains’ firm’s 8
trailers over sales report

FROM page 1B

selling, the products on
demand”.

He added that the failure to
clear those trailers would have
“an immediate impact on
sales”, given that Kelly’s
(Freeport’s) business model
was dependent on a fast inven-
tory turnaround.

This meant that it might start
experiencing shortages in high-
demand products, hence the
position of Kelly’s (Freeport)
and its attorneys that it will
launch legal proceedings within
48 hours, unless Customs with-
draws its demands and clears
the company’s trailers.

“Not only does every busi-
ness in Freeport have to fight
off a rough economy, now they
have to fight off our govern-
ment, and I’m glad we’re in a
position to be able to fight on a
matter of principle, because it
will have an effect on all
licencees,” Mr Lowe told Tri-
bune Business.

“They’re in effect making a
request of you just like a person
who’s a gun to your head and
demanding your wallet. That is
effectively their approach;
you're being asked to do some-
thing at the point of a gun.”



Fh

eR See ee



FRED SMITH

A September 30, 2010, letter
sent to the Comptroller of Cus-
toms and head of Customs in
Freeport by Kelly’s (Freeport’s)
attorney, Fred Smith QC, a
Callender’s & Co attorney and
partner, called on the govern-
ment agency to withdraw its
demand for a bonded goods

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sales report as contained in its
August 5, 2010, letter to the
company.

Stating that a review of the
Hawksbill Creek Agreement
and Customs Management Act
produced no authority for Cus-
toms to legally demand such a
report, Mr Smith wrote: “This
spontaneous demand is con-
trary to an established practice
that has existed between our
client and your Department
since 1986, whereby our client
provided monthly duty paid
sales reports and entries to your
Department.

Decades

“Our client is a Licensee of
the Grand Bahama Port
Authority and has conducted
its business under the provi-
sions of its License for decades.
The importation of duty-
exempt goods by our client is
governed by the Hawksbill
Creek Agreement and the law
of the Bahamas, and not at the
whim of your Department.

“Our client has contractually
and statutorily protected rights
to conduct its business as it has
been conducting it, and has a
legitimate expectation that it is
entitled to continue to conduct

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its business as heretofore with-
out arbitrary interference by
your Department conjuring up
new procedures.”

Bonded goods sales is a prac-
tice whereby Freeport-based
wholesalers, such as Dolly
Madison, Kelly's (Freeport)
and Bellevue Business Depot,
are able to sell products to oth-
er GBPA licencees for use in
their respective businesses only,
without any duty being paid to
Customs/Government on their
sale. It is a report on this activ-
ity that Customs is seeking, but
Mr Lowe is arguing this has
never been required before.

Meanwhile, Mr Smith
accused Customs of “making
good on its threat” to enforce
Kelly’s (Freeport’s) compliance
by “preventing our client
importing containers of articles
for its business”. Some eight
containers had been detained,
he alleged, with Mr Lowe
telling Tribune Business that a
further two had since arrived
on Grand Bahama.

He said: “We are instructed
that our client delivered all of
the necessary documentation
in respect of six of the trailers
on September 21, 2010, and the
other two on the 22nd Septem-
ber for clearing the same.

“In respect of six of the trail-
ers, your Department has
refused to permit clearance of
the goods on the basis that
‘Bonded sales for January-
August are needed’. That state-
ment appears on an Entry
Query Form dated September
22, 2010.

“We understand the normal
process is that where your
Department refuses to clear or
permit an importer to clear
goods, this entry form is pro-
duced, stating the reason for
your Department’s refusal to
permit clearance.

“With respect to the two
remaining containers we under-
stand that even more arbitrari-
ly, your Department has sim-
ply refused to accept delivery of
the appropriate documents
from our client’s customs bro-
kers attempting to clear the
goods contained in those two
containers.”

And Mr Smith warned: “We
have advised our client that this
subsequent refusal by your
Department to clear the six
containers upon the basis that
our client has not supplied
‘Bonded sales in January-
August’ is unlawful. Further,
your Department’s complete
refusal to deal at all with the
other two containers is also
unlawful.

“In the premises, you are in
possession of our client’s goods
and have no lawful authority
to detain the same.

“For the avoidance of any
doubt, we hereby require you
to surrender our client’s goods,
comprising the eight contain-
ers of goods referred to above,
up to them forthwith.

“Your refusal to comply with
this demand within a reason-
able time will result in the con-
version of our client’s goods for
which damages will be sought.

“Be advised that our client
relies heavily on the regular
importation and quick clear-
ance of goods required to con-
duct its business in Freeport,
so your Department’s continu-
ing detention of its goods is
likely to result in loss of profit
to our client.

“Further, certain of the
goods are susceptible to water
and other damages, and if such
goods are damaged by the
delay in returning them to our
client then their value will be
claimed for in full.”

Warning that Kelly’s
(Freeport’s) business had been
placed “in jeopardy”, and that it
had already suffered financial
losses, Mr Smith demanded
that the trailers be cleared and
the necessary paperwork for
their release accepted, with no
conditions, such as a ‘bonded
good sales report’, attached.
























































































































fear on financial
fraudster justice

FROM page 1B

the Bahamas and its financial services industry “had to be
concerned” about the message being sent to clients/foreign
investors when it came to holding financial criminals and
wrongdoers to account for their actions.

And he argued that Bahamian financial services regulators
needed to take a more proactive approach and deal with
problems as early as possible wherever they arose, detecting
warning signs before situations got out of hand and became
impossible to rectify.

“The regulatory oversight, in many instances, seems to be
more reactive than proactive, and not always efficient in
detecting when it should fraudulent activity or wrongdoing
that ultimately leads to the collapse of investment funds,
banks or some other entity,” Mr Moree told Tribune Busi-
ness.

He declined to cite specific situations, but one where the
“writing was on the wall” from at least 2005-2006, prior to its
eventual placement into Supreme Court-supervised liqui-
dation in early 2009, was CLICO (Bahamas).

The sector regulator, the then-Registrar of Insurance,
had been aware that CLICO (Bahamas) had been moving
substantial funds (eventually totalling $73 million) out of the
Bahamas for investment in Florida-based real estate projects
since 2003-2004, and this newspaper since 2007 had been rais-
ing questions about the company’s financial health, partic-
ularly why there was such a large concentration of its assets
in a single, illiquid development.

Yet no regulatory action to protect policyholders and
creditors was taken until CLICO (Bahamas) problems, and
those of its Trinidadian parent, CL Financial, had become so
terminal that they were impossible to correct.

Meanwhile, Mr Moree added: “Once the collapse occurs,
we’ve not always been very good at bringing wrongdoers to
account in a way that protects the overall integrity of the
industry, so that the message goes out that if you’re involved
in fraudulent activity in the Bahamas, you run the real risk
of being caught and brought to justice, rather than the
Bahamas being seen as the “Wild Wild West’, where if these
failures happen you can run off to other countries and noth-
ing happens to you.

“The point is: How does the jurisdiction deal with the
failure from the point of view of bringing wrongdoers to
account, and how efficient is the court system and regulatory
structures in offering the highest level of protection to
investors in getting back their money?”

It was here, Mr Moree said, that the “reputational risk” lay
for the Bahamas. Financial collapses and frauds took place
throughout the world, he noted, even in the US, UK, Cana-
da and major G-7 countries, but the key was what hap-
pened post-collapse and whether this nation was doing
enough to give comfort to foreign investors/clients that
their interests would be sufficiently protected and looked
after.

The leading QC added: “That is something we have to
take a look at - the regulators, the white collar crime pros-
ecutors, and the directors of the police force responsible for
commercial crime.

Record

“Tt seems to me that that they all have to look at their
record for bringing people responsible for white collar
crime, domestically and through cross-border activities, to
justice.”

Strong action, Mr Moree emphasised, would “act as a
deterrent to those prepared to perpetrate fraud through
activities and operations in the Bahamas.

“We’ve got to demonstrate through actions and regulatory
structures that if you rip off investors in the Bahamas, you
will be brought to justice and held accountable for your
conduct. That is a very important aspect to maintaining our
reputation as a first-tier international financial centre. It is
only in that environment investors feel comfortable in
Bahamian entities.

“Tt’s easy to say that we have integrity, and the financial
services industry is first-class and well-regulated, but we
have got to demonstrate that is indeed the case when some-
thing happens.”

One such example was the $25 million collapse of former
broker/dealer Caledonia Corporate Management that the
resulting fall-out, which has been covered extensively by Tri-
bune Business.

This newspaper has regularly been contacted, via phone
and e-mail, by Caledonia clients questioning what action the
Securities Commission of the Bahamas will take in rela-
tion to the collapse, and whether it actually has any regula-
tory enforcement teeth.

Caledonia’s $25 million collapse resulted from allowing a
now-convicted fraudster to trade on margin as part of a
‘Pump and ‘Dump’ stock manipulation, using other clients’
assets - without their knowledge - as collateral for his activ-
ities. When the margin became unsustainable, the Canadi-
an correspondent broker sold off innocent clients’ assets
to cover the hole, something that has been admitted by a for-
mer senior Caledonia executive in sworn testimony.

Yet the Securities Commission, at least publicly, appears
to have taken no action in more than two years against the
principals at Caledonia.

The Bahamas has also had to deal with its fair share of
investment fund implosions over the past decade, such as the
collapse of the Olympus Univest fund and potential loss to
investors of an estimated Cdn$440 million.

The Securities Commission began investigating the fund’s
Canadian manager, Norshield, in 2004, but it is not known
whether any enforcement action was taken. The collapse also
appeared to play a major role in the closure of Bahamian
fund administrator Cardinal International, although the
company denied any wrongdoing and no findings have been
made against it so far by the liquidators.

| thurstlay
Ce mR ed

a

eS

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

FRIDAY, OCTOBER 1, 2010, PAGE 3B





Kerzner:
No Phase

IV till Baha
Mar end

FROM page1B

opment, and will therefore
await the finalisation of the
$2.6 billion Baha Mar devel-
opment that promises a fur-
ther 3,500 rooms.

“We can’t over-saturate the
market,” said Mr Markanto-
nis.

He said that Atlantis, which
has not had any lay-offs since
2008, continues to focus on
cost-cutting initiatives and
energy conservation.

“It’s an ongoing process for
us,” he said “We have a won-
derful and positive workforce
that cooperates constantly as
we focus on utility costs, oper-
ating hours and so on and so
forth.”

Mr Markantonis said
Atlantis was expecting a bet-
ter year oin 2011 and will
“budget as such”.

Stall

The Government was this
week forced to stall its
planned House of Assembly
debate while awaiting word
on the status of Baha Mar’s
outstanding ScotiaBank loan.

Prime Minister, Hubert
Ingraham held a candid press
conference on Wednesday,
where he revealed that he
postponed a planned debate
in the House of Assembly
over Baha Mar’s proposed
8,000 Chinese work force until
the development completes
its outstanding $200 million
loan negotiations. The devel-
opment will only receive the
$2.45 billion loan commitment
from the China Export-
Import Bank, when its Sco-
tiaBank commitment has
been settled.

Mr Ingraham also said that
in 1997, the Government
signed a deal with Kerzner
International that prohibits it
from giving any other devel-
oper a better deal. That posi-
tion was strengthened in 2003
by a clause negotiated during
Atlantis’ Phase III develop-
ment.

“The Bahamas govern-
ment committed itself in the
agreement with Kerzner
International that no one will
get a better deal for a devel-
opment than they got. That
was in 1997. In 2003, that was
strengthened by the Govern-
ment when they did the Phase
Three. That is called the Most
Favoured Nation clause,” said
Mr Ingraham.

“Tf, therefore, the Bahamas
government agrees to 5,000
Chinese workers building the
resort on Cable Beach, at
some subsequent time in the
Bahamas, Kerzner will have
the entitlement to come and
ask for the same deal, and the
Government will be bound to
give him the same deal. So
these are all matters that need
to be considered up front.”

Restaurant Mana

Baha Mar pledges start
‘in a few short months’

By NEIL HARTNELL
Tribune Business Editor

Baha Mar’s principal has
pledged that construction
work and ground breaking
for the $2.6 billion project
will take place in “a few
short months”, even as talks
on finalising a sharcholders
agreement to resolve its out-
standing $200 million Sco-
tiabank loan continue.

Speaking in New York as
part of an occasion to cele-
brate the 25th anniversary
of its equity and construc-
tion partner, China State
Construction’s, presence in
the US, Sarkis Izmirlian,
Baha Mar’s chairman and
chief executive, said: “In a
few short months, the con-
struction of Baha Mar will
begin and we will be break-
ing ground on the famed
Cable Beach.”

Tribune Business reported
yesterday that Baha Mar
and Scotiabank had deter-
mined the amount of cash
the developer would pay
upfront, and the size of the
equity stake the bank will
take in the $2.6 billion Cable
Beach redevelopment, hav-
ing decided on the figures
involved in their debt-for-
equity swap.

They are now wrestling
over the terms of a Share-
holders Agreement that
would govern their relation-
ship and the terms of Sco-
tiabank’s equity participa-
tion in the Cable Beach pro-
ject.

This was effectively con-
firmed in a late Baha Mar
statement on Wednesday,
which said agreement had
been reached on “the broad
parameters of an appropri-
ate settlement” with Scotia-
bank and the lending syndi-
cate. The relevant docu-
ments were now being



MAJOR PLAN: The original rendering of the Baha Mar aeveloonieil

drawn up and finalised.

“The Cable Beach loan
settlement is the last mater-
ial financing piece related to
the Baha Mar project, and it
is now in the process of
being resolved,” Mr Izmir-
lian said then.

Approached

In his address at the China
State Construction event,
Mr Izmirlian said he and his
family were approached by
the then-Christie govern-
ment to consider re-devel-
oping Cable Beach, and
admitted they themselves
were initially sceptical.

“My family and I have a
vision for the country of the
Bahamas, and its huge
potential for tourism,” Mr
Izmirlian said. “We were
approached by the Bahami-
an government to consider
redeveloping a beautiful
area of Nassau called Cable
Beach......... Cable Beach had
been the original leading
tourism area of Nassau for
many years, but over recent
years had become sadly
neglected.

“The Bahamian govern-
ment wanted to restore this
area to its former glory and
asked us if we would be
interested in the revitalisa-
tion of this important land-
mark destination.

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were somewhat sceptical
that such an undertaking
was something we wanted
to get involved in, but as we
started to evaluate the beau-
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the potential of creating
something truly magnificent,











we increasingly became
inspired by what could be
achieved.”

Withdrew

After Harrah’s withdrew
as a 43 per cent equity part-
ner in the development, Mr
Izmirlian said Baha Mar
spoke to many international
construction companies,
looking for a contractor
partner.

“We quickly realized that
only a handful truly ‘got it’
and were as inspired about
the possibility of creating
this project as we were.
Most other companies
focused more on the diffi-
culties rather than the
opportunities, focusing on

obstacles rather than the
bigger strategic picture this
compelling opportunity pre-
sented its multiple stake-
holders,” Mr Izmirlian said.

“Tt became quickly appar-
ent during the selection
process that one organiza-
tion stood out above all the
others, China State Con-
struction and Engineering
Corporation.

“This is because they saw
Baha Mar for what it is: a
unique world-class resort
that they could build, and in
the process, showcase to the
world China State’s ability
to deliver an intricately
designed, and complex,
resort metropolis on a some-
what remote island in the
Caribbean.”

The Aqghcan Central Educalion Authority ivike applicahors on qualied individwals lor the positon of Deputy Direcbor of




Education for Curriculum and Supervision.

Thy Deputy Director of Edecation for Gericguet ae) Superisinn val play an eeeeniial pole in the implererralion anal
dGevelopment of cumiquiem 25 well a5: peotessional development of ipachers. The Deputy Director ell be responsitte for ihe
succnestl dangn, development, and implameniaion of curicuiuen, working with eechers, parents, community members and
other staf io anolyne, assess, and improve educaonal programs.









Hay Raaponaihilitien:

= Cumoulum Development -worts wth feachers aed staff to ensure cumoulum 6 abgned with National Leaming
Standards and is achieving the System's goals. Rewiews curment curiculum and pacommends changes based on
performance data. Demonsiraies a sirong reap of educational technology applications

Perfomance Evaluation - sets hgh and messersble goals for student achievement and ewalugies student
progress in the instructional program by mans thal include the mainiaining of up-lodale student data.
Supervises and appraises the parfonmancon of the schools’ faculty
Orgenizetioral Eficiency - maintains inter-school sysiem communication. Maintains good relationships with
Students, staff, parents, and community members. Aespacts established lines of authonty.

Mer Teacher Induction - ofenis and aesish new sla eaniters and proses oppoctuniies ler their input in the












schecle’ progres,

Professional Dewolopment » leads the educajon and cancer development initabves for the facuky and staff of the
schools and works with Principals to assess the needs of faculty. Fiesponsible for benchmarking educaton and
career dewelepeen| bea! preaches








‘Community -

encourages the use of community resources, cooperates with the community in the useof school

facilities, inferpeets the school program for the communky, and maintains commusicaton wih communty












Marnier
Required Skills and Experience:

10+ oars adminiiative caparianos in an educalional seating
Sion badership ahile ad personal drive

Passion for chidren and their families

Abby to implement programs bo improve student achievement

Ability to build partnerships with community organiaons
Conmiiman in technological adhwancemant

Familiarity with various atucalicnal rresdale

Strategic planning scpenence

Song communication skils

An enbepreneurial spit and a proves inack record
























ee cree eee

Education Requircenents:

® MMashers degres prefered in education, busingss or related feids from an accredited collage/un versity
= Acselited Tagching Corificate

Letters. of Appboalion submitted with copies of Degree Certiicaies, Ceroulum Viaa, threa eoferenons, and the passport photos,
mie be eubritied lo: The Director of Anglican Edecation, Anglican Central Education Authority,
P.O, Boo M658, Nagoau, The Bohees

The deadline for Appiications is Thursday, October FO ATG,

Ministry of the Environment
Department of Environmental Health Services

NOTICE

The owner(s} of a Heavy Duty Trock, registration number M 1354 parked and hindering
the entrance to Sunderland Park, situated at Sunderland Road, Stapledon Gardens
Subdivision, is asked to remove the same within 7 days from the publication of this
notion,

The awner(s} are hereby advised that failure to remove the said vehicle will result in the
gid vehicle being nemoved by the Department of Environmental Health Services.

Shen
Director
DEHS
PAGE 4B, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE





PI timeshare 97% sold-out

FROM page 1B

that typically sustained the resort,
and drove total room nights more
than leisure bookings, declined dras-
tically over the past two years, but
could stage a return in 2012.

“We are seeing a lot of groups in
smaller numbers,” he said. “In gen-
eral, groups who visit are normally
going to be incentive groups, while
corporate business meetings have
been largely curtailed.”

Mr Markantonis added that the
Reef, Atlantis’ condo-tel, had shown
the greatest increase in occupancy

this year, while its high-end One and
Only Ocean Club and Harbourside
timeshare units have remained suc-
cessful throughout 2010.

He said the resort’s multi-million
dollar marketing campaign, in con-
junction with the public/private
Companion airfare promotion, have
driven significant business for
Atlantis this year.

The hotel, for the first time, did
not close its Beach Tower for the
typically slower August and Sep-
tember months.

“In our case, the fall season is
going ahead slightly better than last

DISCONNECTION
NOTICE

The Bahamas Electricity

Corporation wishes to advise the

public that it has commenced

nationwide electricity service
disconnections of ALL accounts

with overdue balances.

This

includes the accounts of customers
who have payment arrangements

with BEC but are not honoring their

commitments.

The public is also advised that
payments can be made directly to

the Corporation's payment centres

in New Providence and the Family

Islands or at any major banking

year,” said Mr Markantonis. “We
didn’t want to create the self-fulfill-
ing prophecy [of the slow fall sea-
son by closing the tower]. There is
business out there, it’s just to find
it.”

Occupancy

According to him, Atlantis at
year-end will finish on occupancy
several points above what was
achieved the year before.

There are signs that the hospitali-
ty industry is picking up in the US,
and there is encouragement for

Atlantis that next year will outpace
2010, Mr Markantonis suggested.

“Next year is considerably ahead
of what it was at the same time last
year for this year,” he said.

The resort has also been working
on some major sports tourism ini-
tiatives that are expected to be
revealed within the next two months.
Mr Markantonis said this niche
tourism product could have an initial
10-year life.

He said the resort will also con-
tinue to capitalise on its A-list con-
cert series that helps to drive room
bookings and some revenues

through ticket sales.

“We have a very solid core of
Bahamian fans,” said Mr Markan-
tonis.

“Naturally the audience changes
depending on the concert, but we
do not really make money from con-
cert attendance as much as from
people who fly in and book a hotel
room to enjoy the concert or play
in our casino.”

“We have been very pleased with
the success of the programme, and
delighted to add another element of
entertainment for the local popu-
lace.”

‘Desperate men do desperate things’



FROM page 1B

supposedly behind a purported "sham audit
designed to wipe out" their $5 million personal
investment and equity position, hedge fund Plain-
field Asset Management said in a statement sent
to Tribune Business: “Mr. Stein's latest allega-
tions are just outright lies, which is what we have
come to expect from him.”

In the latest round of
the protracted battle for
control at the 375-acre
southwest New Provi-
dence South Ocean pro-
ject, Mr Stein and RHS
Ventures are urging the
New York State Supreme
Court to overturn the
arbitration award that
removes them as general
partner, and installs
Plainfield Asset Manage-
ment in their place, on
the grounds that new evi-
dence has come to light
since the August 5 hear-
ing on the issue.

In their motion and
supporting affidavits, Mr Stein and RHS Ven-
tures are alleging that Plainfield falsely informed
them that a Nev Harizman, who purportedly
ordered the audit at the heart of the dispute,
would be unable to testify during the American
Arbitration Association hearing, even though
he was in the US.

Expressing concerns about the conduct of Mr
Stein, and a private investigator hired by him,
Rob Seiden, the hedge fund said of the claim:
“Mr Harizman was made available to testify by
telephone, but Stein's lawyers decided not to do
so.”

ROGER STEIN

As for Mr Stein’s claims that another former
Plainfield employee, who was RHS Ventures’
main contact point in their South Ocean dealings,
was "coerced" into signing a ‘false affidavit’
claiming that Mr Stein ‘misappropriated’ part-
nership funds because the hedge fund was threat-
ening to withdraw his severance pay and health
insurance benefits, the hedge fund again said
this was simply not true.

It added: “No one coerced Mr Reehl, who was
represented by his own lawyer, to sign a sworn
affidavit or testify. Stein's lawyers had ample
opportunity to cross examine Mr Reehl during
the arbitration, and are raising these issues now

to obtain yet another delay.”

An affidavit from the attorneys for Mr Stein
and RHS Ventures, which was filed in the New
York courts in the past week, alleged that they
had wanted to examine Harizman during the
arbitration hearing on several issues, including
what was purported to be a Plainfield conspiracy
to remove the general partner.

They alleged that Harizman's e-mails showed
"he was attempting to bring other developers
into the partnership to take over for Stein with-
out Stein's knowledge", and that Plainfield was
attempting to take complete control over South
Ocean.

Mr Stein's attorneys also alleged that Plainfield
analysed the benefits of removing him as gener-
al partner in a memo produced eight days before
the September 15, 2008, audit was called for, and
that the hedge fund had held discussions on the
issue seven weeks before that date.

"He [Harizman] was also at the centre of
efforts to negotiate with a third-party lender the
restructuring of the entire real estate property at
issue in the partnership to the exclusion of RHS
Ventures which was, at the time, still general
partner,” Mr Stein alleged.

"In fact, weeks before Harizman even ordered
the audit, he wrote numerous e-mails to other
individuals within Plainfield Asset Management
discussing the removal of respondents as gener-
al partner, as well as taking over the entire devel-
opment from respondents."

There were also allegations that Plainfield and
Mr Harizman discussed the restructuring of the
South Ocean with the third player in the resort
project, the Canadian Commercial Workers
Industry Pension Plan (CCWIPP), which in
recent times has been unsuccessfully trying to
foreclose on the property, claiming there has
been a default in repaying the $102 million owed
to it.

And Mr Stein also alleged that a former Plain-
field managing director Eric Reehl, had told him
on August 13, 2010, that he signed an important
affidavit "under significant duress and coercion"
from the hedge fund, which had purportedly
threatened to withhold his health insurance ben-
efits and severance pay.

Mr Stein alleged that the Reehl affidavit was a
key factor in the arbitration hearings, and relied
on heavily by the panel in its decision, as it was
used by Plainfield to back up allegations that
RHS Ventures had “misappropriated and con-
verted for personal use funds intended to be
used in furtherance” of the South Ocean pro-
ject.

institution (either online or over the
counter).

Please call FROM page 1B

Tel.: 302-1000 i

a LDV Ltd and Mr Hayward
for any queries would have been allowed to
keep La Dolce Vita and the
Pub at Port Lucaya, with a
commitment to invest
$250,000 to complete the lat-
ter’s renovation, but the deal
stalled, partly because the

Port Group wanted an up-

View your electricity account online at
www.bahamaselectricity.com



Multinational Company is looking for Talented Candidates
who seek Exceptional Career Development

TRAINEE PROGRAM

Responsible for the execution of special projects or assignments in different Business areas in order
to obtain Training and exposure to our company’s processes and values for a period of 12 months,
having the possibility at the end of the program of becoming part of the organization

Possible Responsibilities
* Monitor and perform business data analysis

* Short term assignments in Operations Staff Functions Sales or Convenience Retail
* Develop projects, business plans and strategies
* Assist with logistics and implementation of project programs

Necessary Skills:
* Bachelors degree in Business Administration, Engineering, Marketing or Related Fields

3-4 years of experience in areas of study

Great interpersonal effectiveness and communication skills

Strong decision making, problem solving, computer and analytical skills
Has commitment to high standards

Has drive, perseverance and initiative

lf you are interested in participating in this program, please send your resume by email to:
recruitmentbahamas@yahoo.com



front cash payment, it is
understood.

Mr Hayward, who said he
had injected $1 million into
the businesses over the past
three years, told Tribune
Business that despite the evic-
tion he remained confident in
Freeport and the Bahamas,
and wanted to continue in
business in this nation.

“T’m a great believer in
Freeport, Grand Bahama and
this country, and I would cer-
tainly like to carry on doing
business, but not in the pre-
sent environment,” he told
this newspaper. “I am here,
I’m Bahamian and I love it
here. My grandfather came
here in 1955 with Wallace
Groves, and I’m not running
away. All my children are
Bahamian. This is home.”

Mr Hayward said the root
of the dispute between him-
self and Port Group Ltd was
an alleged unfair rental
increase between 2004-2007,
when lease payments doubled
without explanation. He
added that he had been trying
to renegotiate the rental pay-
ments, and was prepared to
pay a ‘fair rent’, but without
success.

“When we opened the
Pusser’s Pub and Company
Store in Port Lucaya Market-
place during March 1988, we
were the anchor tenant,
largest employer and, up until
now, the longest serving ten-
ant”, Mr Hayward said in a
statement.

“We have had a good long
run, and history will speak for
itself. The past three years has
been a struggle, even though I
recently injected in excess of
$1 million into the business.
My family will not continue
to back me financially, and at
this point, I have to consider
them and acknowledge that
they have also been negative-
ly impacted with all that has
transpired over these past few

78 jobs lost as Sir Jack evicts son

years.

“Tam confident that things
will improve in Freeport . I
took a risk and opened the
East restaurant in May 2008,
as I firmly believed that
there’s a niche for the cuisine
we offered. At this time, how-
ever, I cannot afford to con-
tinue to throw good money
after bad. After making every
reasonable effort to do so, I
have been unsuccessful in
bringing the rental issue with
the landlord and the powers
that be to a satisfactory con-
clusion. As you know, we are
and have been at a stale-mat-
ed position for far too long
now.

Challenging

“Tt has been an extremely
challenging time, and in a sit-
uation where the deck of
cards is stacked against you,
we find ourselves in a lose-
lose situation — the staff, the
creditors and me”, said Mr
Hayward. “This is a very sad
day for us all. Hopefully, the
Port Group Ltd will be able to
find a new tenant who can
afford the exorbitant rent. I
wish them well.”

In a brief statement last
night, Port Group Ltd said:
“Based on a Supreme Court
Order, dated 22 June 2010,
issued by Justice Estelle Gray-
Evans, LDV Ltd was required
to deliver up possession of all
of its buildings in the Port
Lucaya Marketplace, namely
East Restaurant, Pusser's and
La Dolce Vita, on or before
30 September, 2010. In com-
pliance with the Order, the
premises were vacated today.

“All existing and future
debts, obligations, and liabili-
ties, whatsoever, remain the
sole and full responsibility of
LDV Limited and its princi-

pal(s).”

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

FRIDAY, OCTOBER 1, 2010, PAGE 5B



INTERNATIONAL BUSINESS



French music industry
reaches deal with YouTube

PARIS

Songwriters and composers will
get paid when their videos are
seen on YouTube in France,
under a deal announced Thurs-
day by the online video sharing
site and France's leading music
industry group, according to Asso-
ciated Press.

The industry group SACEM
called the deal difficult to reach
but innovative, and a victory in its
efforts to protect copyright and
make money online.

YouTube's owner, Google Inc.,
has faced lawsuits in France over
use of copyrighted content online,
and criticism from the entertain-

INTERNATIONAL
BUSINESS

ment industry and the French gov-
ernment. The agreement means songwriters, composers and music :
publishers "will be paid for the distribution of their works on }
YouTube," according to a statement by YouTube and industry }

group SACEM.

musical works. The deal will be in effect through 2012.

SACEM President Bernard Miyet said.

Sarkozy to invest more in France.

Murphy and Timbers in Boston.



Stocks sizzled in third

i DAVE CARPENTER,

And investors started looking

quarter, but will it last?

: AP Business Writer

When you open your quar-

terly financial statements in the
i next few weeks, you might be
: both pleased and puzzled.

Despite the economic dol-

: drums, the stock market put

? together a sizzling 11 percent

return over the past three
months, including its best Sep-

? tember since 1939. For a time

: Thursday, the Dow Jones
? industrial average for a time

comes a few weeks after a German court ruled that YouTube :

right laws.

Novartis fined $422.5 in marketing, kickback case

KATHY MATHESON,
Associated Press Writer
PHILADELPHIA

cials announced Thursday.

totaling $185 million for the off-label promotion of Trileptal, } pews, while not great, was at

U.S. Attorney Zane Memeger said at news conference in } Jeast enough to dispel fears of a

Philadelphia.
Novartis will also pay $237.5 million to resolve civil liabilities
over off-label marketing of Trileptal and for paying kickbacks

er drugs.

i appeared headed for 11,000.

But the gains are deceptive,
market analysts say. While

? news about the economy has

The statement did not say how they would be paid, or how proved, ee Snorer e
: i believe it's roaring back. And

much. The deal affects any music managed by SACEM, a group : the bin ad Aaa
that has 132,000 members and copyright to more than 40 million } ioe Rgueningee ieloamabeate ae:
? relatively small number of

The deal also covers "Anglo-American repertoires from multi- pe Pplayine witha toro)
national publishers" broadcast in France. The statement did not ; y-

elaborate. "This deal shows again SACEM's will to favor legaluse i. ded optimism.” Rob
of works on the Internet, in particular on video sharing sites," ! roa see Siemans io: ani
: Arnott, chairman of Research

Google has sought to improve relations in France, and CEO Eric a oo yes

Schmidt promised at a meeting last month with President Nicolas } :
? headwinds we face are pretty

"The deal represents another milestone in the transformation of daunting.

YouTube from an anarchic presence on the Internet before its |. ~. peer
wort : ‘ : ing it the beginning of the next
acquisition by Google to a more mainstream public source for } failieneneer — anon «ithe Gaein.
video content," said Bruce Sunstein, of law firm Sunstein Kann : .
: ployment still near 10 percent

"It is inevitable that if YouTube seeks to become a universal ‘on eee ease wane
source for video content ... YouTube must make deals with the } cane 8
owners of copyright in that content," he said. The announcement } oe.

"T think a lot of this is just

in Newport Beach, Calif. "The

In other words, few are call-

Still, the gains were impres-

must pay compensation after users uploaded several videos of See eee deca ay cai
performances by singer Sarah Brightman in violation of copy- } rose 9 percent, the Dow almost

? 8 percent and the Nasdaq com-
i posite index more than 12 per-
i cent. Every sector of the mar-
? ket was up.

September is usually the

: market's worst month. This
: time, it was the third-best

Novartis Pharmaceuticals Corp. will plead guilty to charges a pos rece aoa
it marketed an epilepsy medicine for unapproved uses and ; 5993 i A 000 h
$422.5 million in civil and criminal penalties, federal offi- i on pr sites
pay ? i stocks were bouncing back

oe . i fi Itd :
The company agreed to pay a criminal fine and forfeiture } Se

So why the rally? Economic

i so-called double-dip recession.
i The Federal Reserve indicated
i it was closer to taking new
to doctors in an effort to get them to prescribe that and five oth- }
i recovery along.

action to help the economic

Bahamas Agricultural & Industrial Corporation (BAIC)

Presents
Its

SISAL CRAFT TRAINING PROGRAM

—

Date: October 4-15, 2010
Venue: C.V. Bethel Sr, School

Application Form

Name: PQ. Box:

Address: Email:

Tel: Fax:

Time: 6:00 - 10:00 p.m. (Daily)
Location: East Street, South

Age range: Junder 15 [16-25 126-40 141-60 161-70 | 71 and over

Employment Status:. Employed . Government | Private
| Unemployed

Have you completed Previous Training Courses by BAIC? | Yes

List: Date(s):

| Self-employed

| No

ADMINISTRATIVE FEE: $100.00 (EXCLUDING MATERIALS)

BE RRE RECAP PERERA PETRA RRC

Contact: Handicraft Development/Marketing Department

Sharae Collie/Pam Deveaux Tel: 322-3740-1

Fax: $22-2123/328-6542

past the November midterm
elections and concluding that
likely Republican pickups in
Congress mean that tax increas-
es are less likely.

The quarter got off to an
inauspicious start. On the very
first day of July, stocks dipped
to what remains their low point
of 2010: 1,011 for the S&P 500
index and 9,596 for the Dow in
intraday trading.

After rebounding to finish
July up 7 percent, the market
limped through August.

The S&P 500 fell nearly 5
percent, and the major indexes
wiped out any gains for the
year. Besides the tough job
market, home sales were mis-
erable and Americans were
being cautious with their spend-
ing.



os ,
(AP Photo/Richard Drew)
UPSWING: Traders gather at a post on the floor of the New York Stock
Exchange Thursday, Sept. 30, 2010. Despite the economic doldrums,
the stock market put together an 11 percent upswing over the past
three months. The increase came largely from a September gain
that was the biggest since 1939 and made for the second-best
month, period, in a decade.

VACANCY

RE: POSITION

A leeal company is currently seeking applications for the position of Chief Financial Officer
(CPO),

The CFO will oversee accounting, financial analysis, risk management, the objective and
analytical measurement of company performance, back-office operations, administration
and collaborate with the CEO to develop various recommendations for Increasing
profitability and return on assets.

Interested candidates must have a Bachelor's degree in accounting, finance or business
administration. CPA/CMA andor MBA strongly preferred with extensive accounting, finance

background.

Outstanding salary, benefits and Incentives offered.

Interested candidates should forward thelr resumes to

executive chieffinanciala fice gmail.com



EMPLOYMENT OPPORTUNITY
CHIEF RISK OFFICER

Job Summary

A financial Services company is seeking to fill the position of Chief Risk Officer.
Reporting directly to the Board of Directors, the ideal candidate will have responsibility for overseeing
the risk management framework of the company.

Key Responsibilities

Implement appropriate and effective risk derbtication practices

Design, conduct and facilitate risk review workshops, surveys and post-event invest gation.
Create proposals for mitigation activities and potential changes to control environment,
Undertake quantitative and qualitative risk assessment including grass and residual probability

and impact assessments.

Implement and update appropriate Compliance, AML, and Risk Management Information

Systems.

Create and maintain risk register for the Compariy

Undertake forecasting amd analysis of emerging risks,

Canry out testing af business recovery planning and crisis management arrangements.
Oversee and facilitate the training of staff in Compliance, AML and risk analysis practices.
Implement a risk monitoring program to identify risk and breaches in controls and procedures.
Provide guidance on the praper application and interpretation of laws, regulations and policies
aoplicable to the institution.

Qualfications and Experience

3-5 years full-time experience in auditing, accounting, statistical analysis or related field;
Bachelor's Degree rom an acoredited college or university;

Graduate degree in Statistics, Economics, Accounting, Business Adrninistration or related field:
Professional designation in Ant-Money Laundering, Risk Management and/or Compliance:
Proven ability ta analyze ane interpret quantitative and qualitative data:

Ability to create, implement, monitor and make recommendations for improvement to risk

culture;

Highest level of integrity, objectivity, and confidentiality in the execution of duties;
Knowledge of relevant Bahamian laws, regulations, quidance notes, and best practices;
Exceptional mathematical and computer skills:

Excellent oral, analytical, interpersonal and written communication skills:

Ability to multitask:

Focused, driven and results orientated;
Strategic thinking and statistical planning skills.

Qualified applicants should send their resume and cover
letter via email to: Attention: Chief Risk Officer Position
dhrresumes@gmail.com



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 6B, FRIDAY, OCTOBER 1, 2010

THE TRIBUNE





Judge OKs §



INTERNATIONAL BUSINESS

139M court

sale of Philly newspapers

MARYCLAIRE DALE,
Associated Press Writer
PHILADELPHIA

A judge quietly approved
the bankruptcy sale of Philadel-
phia's two largest newspapers
to creditors on Thursday, near-
ly closing a bitter and often
chaotic 20-month battle for con-
trol of the company, according
to Associated Press.

The sale of The Philadelphia
Inquirer and Philadelphia Dai-
ly News is valued at about $139
million, including $105 million
cash and the iconic newspaper
building.

The senior lenders are essen-



=

—

oo
=
a
wr

AIONAL

























LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
Agua Investment Fund Ltd.

Notice is hereby given in accordance with Section 138
(8) of the International Business Companies Act, No. 45
of 2000, the Dissolution of Agua Investment Fund Ltd.
(IBC No. 149931 B) has been completed, a Certificate
of Dissolution has been issued and the Company has
therefore been struck off the Register of companies. The
date of completion of the dissolution was the 31% day of
August, 2010.

Alrena Moxey
Liquidator

Employment Opportunity

Party Coordinator

Primary Duties:

* Promote, manage and coordinate Birthday Parties

* Communicate with parents and others booking
parties and group events

Qualifications:

The successful candidate must:
Be pleasant and friendly,
Enjoy interacting with children,
Have excellent written and oral communication
skills,
Be computer liberate, especially with email,
internet and Microsoft Office toals,
Be able to multi-task, work with minimum
supervision and possess a high level of integrity
and professbonalisim,

Fax application/resume to 394-4938 by Oct, 9 2010

ROYAL FIDELITY

Arid an WA

tially paying themselves. All of
the approximately 30 banks and
hedge funds holding the com-
pany's secured debt will now
retain ownership stakes, includ-
ing the hedge fund Angelo
Gordon and Citizens Bank.

Creditors plan to close the
sale by Oct. 8. They could close
sooner if they can negotiate
contract terms with holdout dri-
vers, who derailed the sched-
uled sale last month.

"We look forward to oper-
ating the company out of bank-
ruptcy, revitalizing the Inquirer
and Daily News, and building
the most successful regional
portal in the country," said
incoming Publisher Greg
Osberg, referencing the com-
pany's Philly.com website.

The confirmation hearing
had an air of anticlimax, and
exhaustion, after months of
high-stakes legal maneuvering
and two auctions to determine

Matt Rourke/AP Photo

Dave Sexton sells newspapers outside the Philadelphia Inquirer
and Philadelphia Daily News building, left, in Philadelphia.

the next owner. Creditors won
them both, outbidding 93-year-
old business mogul Raymond
Perelman and others. Perelman
helped push the bidding past
$100 million cash both in April
and, when that deal fell
through, in the second auction
on Sept. 23. But the philan-
thropic city booster said he
could not rationally pay more
for the newspaper company,
given the industry uncertainty.

A group of local investors led
by public relations executive
Brian Tierney and luxury
homebuilder Bruce Toll had

NOTICE

NOTICE is hereby given that WISLET BELIZAIRE of 863 Flat
Shoals Rd Conyers, Ga 30094, is applying to the Minister
responsible for Nationality and Citizenship, for registration/

naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/naturalization
should not be granted, should send a written and signed
statement of the facts within twenty-eight days from the 24%
day of September, 2010 to the Minister responsible for
nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

LYNDEN PINDLING INTERNATIONAL AIRPORT
IMPOSTION/VARIATION OF FEES AND CHARGES



borrowed heavily to finance
their $515 million purchase of
the company in 2006. They filed
for bankruptcy three years lat-
er. Months of emotionally
charged showdowns with cred-
itors ensued, as the two sides
battled over auction rules,
union support, Tierney's "Keep
it Local" campaign and slights
real and perceived.

But the creditors outlasted
the challenges. And the always-
colorful Tierney has moved on,
spending much of the past few
months in Europe, working on
his next venture.

The creditors have dubbed
their company Philadelphia
Media Network, and plan to
cut costs by 13 percent across
the board. Newsroom employ-
ees have agreed to 6 percent
pay cuts that include two-week
furloughs, but will be spared
layoffs for at least a year.

Osberg hopes to re-energize
the website and better coordi-
nate print and online opera-
tions. The Philly.com site is cur-
rently run by about 20 people
who work in a different build-
ing. That setup will end, he
said.

Itis hereby notified pursuant to regulation 4(10}(b) of the Airport Authority
(Amendment) Regulations, 2009 that the Airport Authority at a meeting on the 17th
day of September, 2009 imposed and or varied fees and charges at the Lynden
Pindling International Ainpart as follows:

Aeronautical Fees

a) Landing Fees Increase 10.0%

b) Terminal Fees increase 3.0%
c} Aircraft Loading Bridge Fees increase 3.0%
d) Aircraft Parking Fees increase 3.0%

Passenger Facility Charges
ajlnternational Passenger Facility Charge increase 51,50

Passenger Processing Fee

a) International Passenger Processing Fee increase $600

It is further notified that the said imposition and or variation of Fees and Charges shall
take effect at the Lynden Pindling Intemational Airport ninety days from the date of
first publication of this notice

Tu Zz

ee ee Fe ee ee oe

Ce a a Dc FS a a a

SE

cr AL

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 30 SEPTEMBER 2010
BISX ALL SHARE INDEX: CLOSE 1,516.77 | CHG -0.01 | %CHG 0.00 | YTD -48.61 | YTD %-3.11
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

52wk-Low Securit_y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital
Famguard

Finco

FirstCaribbean Bank
Focol (S)

Focol Class B Preference
ICD Utilities

J. S. Johnson

Premier Real Estate

1.01
10.63
4.90
0.18
3.15
2.17
10.77
2.50
6.60
1.90
1.90
6.07
8.50
9.74
5.46
1.00
5.59
9.92
10.00

Previous Close Today's Close

Change Daily Vol.
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

-0.01
0.00

1.01
10.63
4.90
0.18
3.15
2.17
10.77
2.50
6.60
1.89
1.90
6.07
8.50
9.74
5.46
1.00
5.59
9.92
10.00

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

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

Symbol

BAH29
FBB17

Securi
Bahamas Note 6.95 (2029)

Fidelity Bank Note 17 (Series A) +
Fidelity Bank Note 22 (Series B) +
Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

FBB22
FBB13
FBB15

Last Sale

Change Daily Vol.
0.00
0.00
0.00
0.00

0.00

99.46
100.00
100.00
100.00
100.00

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

Symbol
Bahamas Supermarkets
RND Holdings

Bid &
5.01
0.35

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

ABDAB
RND Holdings

30.13
0.45

Ask & Last Proce

Daily Wo.

“WEG
sy

CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

EPS $

cla Teco FT A TL

Div $
0.250
0.013
0.598

-0.877

0.168
0.016
1.212
0.781
0.422
0.111
0.199

-0.003

6.95%

7%

Prime + 1.75%

7%

Prime + 1.75%

EPS $

0.287
0.645
0.366
0.000
0.012
0.883
0.355

Interest
20 November 2029
19 October 2017
19 October 2022
30 May 2013
29 May 2015
Div &

P/E Yield

__esa fr? ae rah




eT i
STUBS
inventory total

NEW YORK





Corn prices slumped
Thursday after a new gov-
ernment report said inven-
tories were higher than
expected, which caught
traders by surprise, accord-
ing to Associated Press.

Corn prices lost 9.75 cents
to settle at $4.9575 a bushel.
The movement also dragged
down wheat but soybeans
rose on higher export sales.

The Agriculture Depart-
ment said corn stocks
totaled 1.71 billion bushels
as of Sept. 1 on farms, and
at mills, warehouses, eleva-
tors and similar places. Most
analysts had predicted the
stocks would be about 1.407
billion bushels, PFGBest
grains analyst Tim Hanna-
gan said.

The report caught many
traders off-guard because it
means more inventory than
they had expected was on
hand as the harvest was just
beginning at the start of
September, Hannagan said.

Corn prices have rallied
to two-year highs in recent
weeks because of strong
export demand and expec-
tations that the U.S. crop
will fall short of a record
year for yields.

Wheat for December
delivery fell 9.5 cents to set-
tle at $6.74 a bushel and
November soybeans added
7.75 cents to $11.0675 a
bushel as the agricultural
agency reported strong net
export sales in the past
week.

In other trading, most
energy prices rose on
upbeat economic news that
bolstered expectations for
improving demand.

The government said
first-time claims for jobless
benefits declined last week.
It also raised its second-
quarter estimate on gross
domestic product to 1.7 per-
cent from 1.6 percent. In
addition, an improvement
was recorded in Chicago
regional manufacturing
activity. Benchmark oil for
November delivery gained
$2.11 to settle at $79.97 a
barrel on the New York
Mercantile Exchange.

In other Nymex trading
in October contracts, heat-
ing oil rose 5.35 cents to set-
tle at $2.2440 a gallon and
gasoline added 4.93 cents to
$2.0448 a gallon.

November natural gas
lost 9 cents to settle at
$3.872 per 1,000 cubic feet
after the government said
stockpiles rose.

Gold and other metals
fell as the dollar grew
stronger. Since commodities
are priced in dollars, a
stronger dollar makes them
more expensive for foreign
buyers. In December con-
tracts, gold for December
delivery dipped 70 cents to
settle at $1,309.60 an ounce;
silver fell 13.1 cents to
$21.821 an ounce and cop-
per lost 1 cent to $3.6515 a
pound.

October palladium added
$3.95 to settle at $571.25 an
ounce and October plat-
inum gained $2.60 to
$1,652.00 a pound.

































































































NOTICE

NOTICE is hereby given that ROBIN CADET of BETHEL AVENUE
AND ALBATROSS ROAD, P.O. BOX N-8080, NASSAU,
BAHAMAS is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/naturalization should not be
granted, should send a written and signed statement of the facts within twenty-
eight days from the 1° day of October, 2010 to the Minister responsible
for nationality and Citizenship, PO. Box N-7147, Nassau, Bahamas.

NOTICE

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

6.01
0.40

14.00
0.55

-2.945
0.001

0.000
0.000
31.59 29.00
0.55

4.540
0.002

0.000

0.55 0.000

BISX Listed Mutual Funds

NAV

1.4904
2.9115
1.5546
2.8624
13.4286
109.3929
100.1833
1.1272

Fund Name

CFAL Bond Fund

CFAL MSI Preferred Fund

CFAL Money Market Fund

Royal Fidelity Bahamas G & | Fund

Royal Fidelity Prime Income Fund

CFAL Global Bond Fund

CFAL Global Equity Fund

FG Financial Preferred Income Fund

FG Financial Growth Fund

FG Financial Diversified Fund

Royal Fidelity Bah Int'l Investment Fund Principal
‘

1.4005
2.8266
1.4905
2.8522
13.0484
101.6693
93.1998
1.0000
1.0000
1.0000
9.1005

1.0948
1.1275

9.5955
10.0000 _ Royal Fidelity Bah
Protected TIGRS,
Royal Fidelity Bah vestment Fund Principal
Protected TIGRS, Series 3

Royal Fidelity Intl Fund - Equities Sub Fund

vestment Fund Principal
2 10.3734
9.1708
9.1708

4.8105 7.5827

YTD%

NAV 3MTH
1.475244
2.926483
1.533976

NAV 6MTH
1.452500
2.906205
1.518097

Last 12 Months %
3.50% 6.42% 31-Jul-10
31-Aug-10
17-Sep-10
31-Aug-10
31-Aug-10
30-Jun-10
30-Jun-10
31-Aug-10
31-Aug-10
31-Aug-10

0.85%

3.18%
-8.16%

0.46%

0.23%
4.30%
-7.49%
2.40%
5.20%
-1.52%
3.43%

7.60%
3.56%
5.28%
6.10%
5.64%

107.570620
105.779543

103.987340
101.725415

2.51%
3.37%

East Bay St.

2.71% 5.96% 31-Jul-10

-3.69% 3.38% 31-Jul-10

-8.29%
-1.74%

-8.29%
11.58%

31-Aug-10
31-Aug-10

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

for daily volume
r daily volume

DIV § - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earin: as
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007

KS1) - 3-for-1 Stock Split - Effective Date 7/11/2007

N/M -

YIELD - last 12 month dividends divided by closing price

(a) ZORICAN LTD. is in dissolution;

(b) The date of commencement of the dissolution
is the 6th day of September A.D., 20 and

(c) the Liquidator is C.B. Strategy Ltd., of 308

C.B. Strategy Ltd.
LIQUIDATOR

Not Meaningful

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 8B, FRIDAY, OCTOBER 1, 2010 THE TRIBUNE





INTERNATIONAL BUSINESS



Dollar rises from 5-month
low following jobs report

Damian Dovarganes/AP Photo

ABOVE

JOB HUNTING: Guadalupe Corral, 20, right, fills out a job application for a retail position with Guess
by Marciano store, at the “End of Summer Job Fair,” a one day event co-hosted at Citadel Outlets in
partnership with the City of Commerce on Thursday, Sept. 16, 2010, in Commerce, Calif. Applications
for unemployment benefits fell for the third time in four weeks, and wholesale prices rose. The job-
less rate is expected to remain above 9 percent well into next year.

LEFT

SHOWING APPLICATION: Tamara Tillman, left, and Lorena Garcia, right, fill applications for a sales
associate position at the “End of Summer Job Fair”.



NEW YORK

Positive news Thursday
on U.S. jobs and manufac-
turing helped pull the dol-
lar off its latest five-month
low against the euro, accord-
ing to Assoicated Press.

While Europe's debt trou-
bles are once again a worri-
some issue, the euro has
risen strongly against the
dollar this month because
investors expect that the
Federal Reserve might take
further action to boost the

Do you know that your
favourite teacher can

WIN $1000!

USS. economy, which would
also lead to lower interest
rates and possibly weaken
the dollar.

On Thursday morning,
however, a U.S. government
release suggested that
employers are slowing job

SIR

cuts, while a strong report
on manufacturing in the
Chicago area reassured
investors who expected a
slowdown in the industrial
sector.

That helped boost the dol-
lar. Investors hoped that

GERALD CASH

NATIONAL DISTINGUISHED
— TEACHERS’ AWARDS ——

Nominations close on October 15”, 2010

better news on the econo-
my could limit the Fed's
need to support the econo-
my further by buying up
large amounts of govern-
ment debt, said Ashraf Lai-
di, chief market strategist at
CMC Markets in London.

In late afternoon trading
in New York Thursday, the
euro traded at $1.3643,
unchanged rom its value late
Wednesday.

Earlier in the day, the
euro notched a five-month
high at $1.3683.

The euro had gained
despite a big increase in Ire-
land's bailout of its troubled
banking system and a down-

The European currency
has risen about 7 percent
versus the dollar this month,
an usually large swing.

The British pound
dropped to $1.5716 from
$1.5795, while the dollar fell
to 83.40 Japanese yen from
83.62 yen.

The dollar is not far off its
15-year low of 82.88 yen
struck earlier this month,
just before the Bank of
Japan intervened in foreign
exchange markets to weak-
en the yen.

In other trading Thursday,
the dollar dropped to 1.0279
Canadian dollars from

Presented by:

QUIT cacceesuws The Tribune

For further information you may email us at:

ton 1.0305 Canadian dollars, but
NDTA@fidelitybahamas.com

rose to 0.9816 Swiss francs
from 0.9768 Swiss francs.

grade of Spanish govern-
ment debt by Moody's
Investor Services.

THE WEATHER REPORT [)2e==.
x | te

Mostly cloudy with a

thunderstorm
rh Low: 77°
TAMPA AccuWeather RealFeel AccuWeather RealFeel AccuWeather RealFeel NCE Cm r Lime

High: 90°
ae = age oo
High: 89° F/32° C 99°-82° F 96°-82° F 96°-83° F 102°-85° F

Low: 71° F/22°C ine, save AccuWeather fearon eS hneae is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure,
Zz 7 and elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

~
Vv Temperature

2 i 88° F/31° C
_ . 8-16 knots

| 79° F/26° C

| 86° F/30° C

@ WEST PALM BEACH | 74° F/23° C
High: 86° F/30° C
Low: 73° F/23°C

. 88° F/31° C
ee
=<
=
MIAMI

77° F/25° C
High: 88° F/31°C
Low: 74° F/23°C



INSURANCE MANAGEMENT
(BAHAMAS) LIMITED

INSURANCE BROKERS & AGENTS

UV INDEX Topay

e\7

HIGH

~~
a.
Mostly cloudy,
t-storms possible

High: 89°
Low: 81°

o|1|2

Low

a|4|5

MODERATE

|s/9|
V. HIGH

i
ell
—

Mostly cloudy,
t-storms possible

High: 89°
Low: 80°

EXT.
ORLANDO
High: 89° F/32° C
Low: 69°F/21°C
&

Partly cloudy witha
passing shower

Partly sunny with a
thunderstorm

High: 88°
Low: 79°

Mostly cloudy,
t-storms possible

The higher the AccuWeather UV Indexâ„¢ number, the
greater the need for eye and skin protection

i TIDES For Nassau

High HL(it. Low

Today 12:42 a.m.

1:22 p.m.

1:50 a.m.
2:28 p.m.

2:58 a.m.
3:31 p.m.
4:02 a.m.
4:29 p.m.

4:59 a.m.
5:24 p.m.

Wednesday5:53 a.m.
6:16 p.m.

Thursday 6:45 a.m.
7:06 p.m.

50 a.m.
57 p.m.
Saturday :00 a.m.

6:
7:
8
9:00 p.m.



Sunday 9:11 a.m.

9:58 p.m.

10:16 a.m.
10:51 p.m.

11:17 a.m.
11:42 p.m.

12:13 p.m.

ABACO
High: 89° F/32° C

7 Low: 74° F/23°C

ee



Monday
Normal high .
Normal low ...
Last year's high .
Last year's low
Precipitation

As of 2 p.m. yesterday «0.0.0.0... ceeseeeeeeeee 2.87"
Year to date “
Normal year to date

Tuesday



FT. LAUDERDALE
High:87°F/31°C
Low: 77° F/25°C _

FREEPORT
High: 88° F/31°C
Low: 72° F/22°C



25
3.1
2.6
3.2
2.8
3.3
3.4
3.4
3.4
3.4
3.6
3.5
3.8
3.4

‘ A 1:07 p.m.
<1 (f >

7-14 knots

AccuWeather.com

Forecasts and graphics provided by
AccuWeather, Inc. ©2010

ELEUTHERA TT MUM THI

High: 91° F/23°C

Low: 78° F/26°C
High: 89° F/32°C

——
Low: 77° F/25°C

GREAT EXUMA ae

High: 90° F/32° C
Low: 82° F/28° C

Tr

NASSAU —
High: 90° F/32°C
Low: 77° F/25°C

a

Sunrise...... 7:02 a.m.
Sunset....... 6:57 p.m.

First

12:20 a.m.
2:19 p.m.

Moonrise. ...
Moonset.....

Full

=
ws af = " New
KEY WEST G z
High: 88° F/31°C
Low: 76° F/24°C
eo

CAT ISLAND

A


8-16 knots

Oct. 7 Oct. 22 Oct. 30

SAN SALVADOR
High: 90° F/32°C
Low: 80° F/27°C

AL
<1 >

6-12 knots

MAYAGUANA
High: 88° F/31°C
Low: 79° F/26°C

| 2 Oct. 14
— Zz Vv
Cs 6-12 knots
ANDROS $s
High: 92° F/33°C
Low: 76° F/24°C

Shown is today's weather. Temperatures are today's

highs and tonights's lows.

tr
LONGISLAND

High: 89° F/22°C
Low: 81° F/27°C

2ST MANAGEMENT TRACKING Map

a
Qa

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CROOKED ISLAND / ACKLINS

High: 91° F/33°C
RAGGEDISLAND ‘ow:82°F/28°C
High: 88° F/31°C

Low: 80° F/27°C

Charlotte

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42
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Shown is today's
weather. Temperatures
are today's highs and

tonight's lows.

ree pee 77125 2° CapeiHatterds

| aS e lighs: 76° neg
| Highs:\78°F/26°C\ {@ Charleston
| ~~ ~ Highs: 82°F/2

Pensacola\ s@Savannah

Highs: “86°F /30 30°C Highs: 85°F/29°C

30. Daytona Beach

aS “wlighs: 86°F/30°C |
Freeport
Highs; &

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High: 90° F/32°C
Low: 82° F/28°C

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WINDS
N at 4-8 Knots
ENE at 7-14 Knots
NW at 8-16 Knots
NNE at 6-12 Knots
SW at 6-12 Knots

$

VES
Feet
Feet
Feet
Feet
Feet

VISIBILITY WATER TEMPS.
10 Miles 83° F
10 Miles 82°
10 Miles 83°
10 Miles 83°
4 Miles 84°
S SSE at 4-8 Knots Feet 10 Miles 83°
CROOKED ISLAND SW at 7-14 Knots Feet 5 Miles 84°
urday: $ at 8-16 Knots -4 Feet 5 Miles 84°
ELEUTHERA WSW at 6-12 Knots Feet 3 Miles 83°
ENE at 4-8 Knots Feet 10 Miles 83°
NNW at 8-16 Knots Feet 10 Miles 83°
NE at 7-14 Knots Feet 10 Miles 83°
GREAT EXUMA z SW at 6-12 Knots Feet 10 Miles 83°
Saturday: NNE at 4-8 Knots -1 Feet 3 Miles 83°
GREAT INAGUA SSW at 8-16 Knots Feet 5 Miles 84°
$ at 10-20 Knots Feet 4 Miles 84°
SW at 8-16 Knots iles 83°
§ at 8-16 Knots 83°
SSW at 7-14 Knots 84°
$ at 8-16 Knots
W at 6-12 Knots
NNE at 4-8 Knots
SW at 8-16 Knots
$ at 8-16 Knots
SW at 6-12 Knots
ENE at 3-6 Knots

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THE TRIBUNE



PAGE 1

0r

FRIDAY, OCTOBER 1,



ts

2010

PAGE 10 © {nternational sports news








‘Everything
seems to be quite
in order’ at the
Commonwealth

Games...
See page 9

Team Bahamas settling in, ‘looking seetty sood’

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

EW DELHI,
India — On
Thursday, half
of Team
Bahamas’ ten-
nis players arrived to join the
contingent of track and field
competitors, cyclists and box-
ers waiting to represent our
country at the XIX Com-
monwealth Games.

While all of the track and
field athletes — with the excep-
tion of Donald Thomas
(expected to arrive October
2) —have settled in along with
the two boxers and two of
three cyclists (Mark
Holowesko withdrew), coach

Junior sailors
prepare for the
Optimist National
Championship

FIFTY junior sailors from
Long Island, Governor’s Har-
bour, Harbour Island, Abaco
and Freeport and 30 from
Nassau are expected to com-
pete for the Bahamas Opti-
mist National Open Champi-
onship 2010 October 2-3 in
Montagu Bay.

Vixens beat
Champs Club

Technicians
defeat Saints

SCOTTSDALE Vixens
took the victory in three sets
— 25-9, 25-13 and 25-9 —
against Champions Club as
New Providence Volleyball
Association (NPVA) action
continued Wednesday night
at the D W Davis Gymnasi-
um.

Krystel Rolle led all scor-
ers with 12 points in the win
while Samantha Forbes fin-
ished with two points in a
losing effort.

The men’s feature was
another three-setter as the
Technicians defeated the
Saints — 25-17, 26-24 and 25-
22. Derek Walkine finished
with nine points for the win
and Chauncey Cooper
scored seven in the loss.

Also last week Sunday,
the Johnson’s Lady Truck-
ers beat the COB Lady
Caribs — 18-25, 25-8, 25-12
and 25-18. Davia Moss and
Anastacia Sands-Moultrie
led the Truckers with 12 and
five points respectively in
the win.

In the losing effort, Dian-
dra Sands scored 12 points,
five of which were service
aces.

On the men’s side, the
Intruders improved their
record to 2-0 by defeating
DaBasement Crimestoppers
— 25-13, 22-25, 31-29, 24-26
and 16-14-— who dropped to
0-2 early in the season.
Prince and Arison Wilson
led the charge with 27 and
18 points respectively to
secure the win. Muller Petit
and John Rolle both came
up with 18 points in the loss.

And on September 25, the
Lady Techs needed four sets
to defeat the Lady Caribs —
25-17, 16-25, 25-16 and 25-
14.

Sherry Whylly led the
Techs and all scorers with 11
points for the win and Krys-
tal Delancy scored eight for
the Lady Caribs.

In men’s action, the Scotia
Defenders disposed of the
Youthful Saints — 25-18, 25-
19 and 25-17. Shedrick
Forbes and Jamaal Ferguson
led all scorers with 16 and
nine points respectively.
Lorenzo Williams and
Chauncey Cooper both
scored six points for the
Saints.

Leo Rolle and female player
Nikkita Fountain were the lat-
est to arrive. They came into
the games village yesterday
along with assistant boxing
coach Floyd Seymour from
Washington D.C. and physio-
therapist Cottrice Roberts-
Robinson from Grand
Bahama.

Chef de mission Roy Cole-
brooke, who arrived ahead of
the team to ensure that every-
thing was in order, said the
Bahamas is looking pretty
good.

“With me being a hotelier,
with a new facility like this
being opened, you will have
some clean up challenges and
that is exactly what it was,”
he said. “There was no need
to cry about anything. I think

THE

what needed to happen was
everybody just needed to pull
together and get the job done.
That is exactly what happened
when I got here with persons
who were hired to do that
job.”

Musgrove said he has been
to many sporting events and
these accommodations have
“surpassed most of them.”

“So I don’t know why there
were so many complaints

SOFTBALL

QUEEN'S College Comets’ senior
girls went on the road and defeated
the Kingsway Academy Saints, 18-3.

The Bahamas Amateur Indepen-
dent Secondary Schools’ (BAISS)
softball season got underway on

Tuesday afternoon.

On the mound for the Comets was
three-sport star Alex Marshall,
known for her prowess on the bas-

ketball court, who pitched a stellar

game for the win.

The Comets took control in the
opening inning and never relin-

Dunkley and crew
win Snipe Nationals

By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

PAIRED with two differ-
ent crews over the course of
the two-day competition, one
half of the defending Snipe
Nationals champion was able
to reclaim the title in 2010.

Robert Dunkley and crew
Shaquille Dean/Michelle
Hope finished well ahead of
the competition in the final
points standings of the
Bahamas Sailing Associa-
tion’s (BSA’s) 2010 Snipe
Nationals over the weekend
in Montagu Bay.

Dunkley and Dean posted
a dominating day one when
they captured first place fin-
ishes in all three races.

On day two, Dunkley and
Hope finished third in race
three, fourth in race five, but
rebounded to end the event
on a winning note with a first
place finish in the finale. The
team finished with a final
score of seven points overall.

Jimme Lowe and
Carmeron Symonette finished
second overall with 13 points,
Dwayne Wallis and Lee
McCoy were third with 14
points, Fernando de Carde-
nas and Kim Pyfrom fourth
with 17, Gavin McKinney and
Donico Brown fifth with 18,
Lori Lowe and Maria Aaboe
sixth with 26 while Chris
Sands and Adam Russell
rounded out the field with 29

points.

Seven boats contested the
championship which has been
in existence for more than 40
years. Dunkley won the 2009
nationals alongside crew BJ
Burrows.

The Snipe class features a
15 and-a-half foot, two-per-
son, one-design racing dinghy.
The boat is recognised by the
International Sailing Federa-
tion (ISF) as an International
Class and is sailed in 26 dif-
ferent countries worldwide.

One of the most all-inclu-
sive sailing classes, it is con-
tested by all persons of vary-
ing age, weight, or sex, with
co-ed draws popular in inter-
national competition.

Lori Lowe, fleet captain for
the Snipe Class, was one of
four sailors to represent the
Bahamas in Snipe Class at the
XXI Central American and
Caribbean Games in
Mayaguez, Puerto Rico.

Along with crew Michael
Holowesko, the team placed
seventh with 36 points while
Jimmie Lowe and crew
Cameron Symonette was fifth
with 29 points.

Lowe said the Snipe class
continues to be on the rise,
due in large part to the BSA
summer programme. “The
growth of the class has fluc-
tuated over the years. There
have been championships
where we have seen as many

SEE page 9



OPTIMIST OPEN: About 50 junior sailors from feng Island, Governor’s
Harbour, Harbour Island, Abaco and Freeport and 30 from Nassau are
expected to compete this weekend (October 2-3) in Montagu Bay for
the Bahamas Optimist National Open Championship 2010.

quished the lead en route to the lop-
sided win. The Comets moved to1-0 0-1.

TRIBUNE



about the preparation of the
games.”

During the Bahamas’ flag
raising ceremony on Tuesday,
Musgrove was highlighted in
the local daily newspapers for
the stance he took against
those countries who cried
shame on India. “When we
look at what the games stand,
it’s about bringing the Com-
monwealth nations together
and so if we run into this kind

Maca itcr

Niels itt:
el

a
dtr tee od
Refrigerator
ered be

of situation, I believe that
instead of pointing fingers, we
should bind together and help
to ensure that these games in
India be the best games for
the Commonwealth,” he said.

“T’ve been to other games.
They’ve had their challenges.
There are no games that go
on without their challenges.
Sure India had some rain, but
that was an act of God. But
after the rain, they went
ahead and put some measures
in place to get the ground
facilities in order and that is
what they did.”

Musgrove said those per-
sons who accused India of not
being fully ready to host the
games would probably want
to take those words back now
when they look at what has

Photos by Kermit Taylor

LOPSIDED WIN: Senior girls on the softball field Tuesday. SEF more photos page 9

on the season while the Saints fell to



ee eee a

Student
Desk
$119

transpired in getting the facil-
ities ready.

Tim Munnings, the deputy
chef de mission, said he could-
n’t agree more with Cole-
brooke. “My expectations
when I first came here were a
bit low because of what I seen
reported in the press, but I
was extremely pleased when I
went into the rooms and saw
the accommodations,”
Munnings said.

“The space was impressive,
the bathrooms were very
clean. I’m sure they had to do
a lot of cleaning up. But each
room, the cafeteria, every-
where has air-condition, so all
of the athletes are comfort-
able. The only struggle is the
inconsistent Internet service,
but the Internet goes off at
home, so they’re working on
it and we’re doing the best we
can. We don’t need the Inter-
net to compete. This is really
about the athletes, so we’re
trying to ensure that they are
as comfortable as they can
be.”

While coach Rolle and
Fountain made it in yester-
day, Grand Bahamian tennis
player Larikah Russell was
due in by today. The male
players — Marvin Rolle, Devin
Munnings and Rodney Carey
Jr from Grand Bahama — are
scheduled to arrive before the
opening on Sunday.

For Rolle, the trip for him
and Fountain was “long and
tiring,” especially considering
the fact that they both arrived
without their luggage.

“Anytime you are travel-
ling on this side of the world,
you have to be prepared for a

SEE page 9

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TRIBUNE SPORTS

FRIDAY, OCTOBER 1, 2010, PAGE 9



LOCAL SPORTS



‘Everything seems to be quite in order’
at 2010 XIX Commonwealth Games

By BRENT STUBBS

NEW DELHI, India — The XIX
Commonwealth Games is set to start
Sunday and, from the looks of
things, everything seems to be quite
in order.

I must say that the organising
committee has done a fantastic job,
contrary to the negative media
reports that came out of India over
the last few weeks.

On arrival here at the games vil-
lage, I was pleasantly surprised to
find the accommodations more than
adequate for the athletes and offi-
cials.

Let me take you back a bit.

The news circulating from India
was that too many countries and ath-
letes were pulling out because of the
shabby preparation with regard to
getting the facilities ready. There
was a report of the games village
being “uninhabitable” and a bridge
collapsing near the national stadi-
um where the opening and closing
ceremonies as well as the athletic
(track and field) competition was
going to take place.

After taking a 13-plus hour trip

Dunkley

and crew
win Snipe
Nationals
FROM page 11

as 15 boats and as little as five
but its popularity is on the rise
again,” Lowe said.

“We expect four junior
boats to sail with us as a part
of the fleet. One of the main
reasons the popularity of the
class continues to increase is
because of the impact the
BSA summer programme has
had in attracting new talent
with the younger kids in
schools."

The BSA hosted the fifth
edition of its Summer Sailing
Programme at the Nassau
Yacht Club which is aimed at
targeting beginners of the
sport.

It featured scores of stu-
dents between the ages of
eight and 15 (boys and girls
from public and private
schools throughout the coun-
try) interested in learning to
sail or competitive sailing.
Many of them have gone on
to represent the Bahamas at
the international level.

Sailing camps were also
held in Harbour Island and
Long Island where more stu-
dents were able to take
advantage of the programme.

Some of the programme’s
alumni who have gone on to
achieve national and interna-
tional success include Danny
de Cardenas, two-time Opti-
mist Nationals winner and
defending champion, and
Donico Brown, who repre-
sented the Bahamas at last
year’s World Championships
in Brazil.

A host of other young
sailors have gone on to com-
pete in international compe-
tition, including Christopher
Sands, Michael Holowesko,
Michael Gibson and Brent
Burrows Jr, along with Long
Island's Torrington
Cartwright who represented
the Bahamas at the 2009
International Junior Sunfish
Nationals.




from New York to New
Delhi on Wednesday,
when I arrived at the
International Airport
with physio-therapist
Cottrice Roberts-Robin-
son from Grand
Bahama, assistant box-
ing coach Floyd Sey-
mour, tennis coach Leo
Rolle and female player
Nikkita Fountain, we
were all greeted with a
host of local personnel,
who were eager to usher
us through the immigra-
tion check.

We were escorted to
a waiting area where we
had light refreshments
as they checked our
accreditation and then
once we got our bags
(those that arrived), we
were whisked off on a one-hour bus
ride to the games village.

On the way, we passed through
the busy thoroughfares with the
police escort on the designated Com-
monwealth Games’ lanes and we
made our way to the games village



OPINION

STUBBS xcrccited There we

met assistant chef de
mission Tim Munnings
and eventually chef de
mission Roy Cole-
brooke, who both gave
us a brief tour as we
proceeded to the dor-
mitories for the
Bahamas.

I have to agree with
both Munnings and
Colebrooke, having
travelled to numerous
Commonwealth and
Olympic Games, the
facilities here are sec-
ond to none.

And Colebrooke was
quoted in yesterday’s
newspapers in New
Delhi that all those who
have been complaining
should have been lending a hand to
ensure that the games are up to stan-
dard. There are a few minor hitches,
the main one being the Internet facil-
ities on each floor, but for the most
part, everything appears to be in
order for what should turn out to be

a fantastic game.

Once we viewed a portion of the
facilities where the Bahamian team
will reside for the next three weeks,
we headed to the cafeteria where
there were a variety of foods and
salads to choose from — western,
African, Asian, Indian, Tandori, piz-
za, vegetarian, desserts and drinks.

The good thing is the facility is
open 24 hours so you can go back as
many times as you want. In the cafe-
teria, we met the remainder of the
Bahamian contingent, mainly the
track and field squad, whom had set-
tled in from Monday and they were
all in high spirits.

Looking around at the facilities,
there wasn’t any shortage of any-
thing for the athletes to immerse
themselves into. There was a web
café, laundry area, entertainment
center, game room, you name it and
they have it.

Like one of the athletes said:
“There’s no need to leave the games
village for anything.”

Adjacent to the village is a state-
of-the-art sporting facility that
includes track and field, a weight
room and swimming complex, and

facilities for wrestling and para-ath-
letes.

As an athlete, competing at these
games should be a treat. Just so sor-
ry that so many of the big name ath-
letes decided to skip the long trek
here, either because of injuries or
they were burnt out from the long
season.

The good news is that there are
still a lot of athletes here, although
the exact list of entries has not yet
been released, so this should be an
event of “uncertainty,” where the
athletes being best prepared at this
time should be able to rise to the
top.

The games have taken a bashing
even before they get underway. But
the preparations have not been as
bad as indicated. I just think that
with the way the organising com-
mittee has pulled these games
together, they will go on as one to
remember for years to come.

October 3-14, India will be on dis-
play as they host the games (held
every four years) for the first time.
So far, from what I’ve seen, they’re
on their way to make this an exciting
one for all to see and take part.

Team Bahamas settling in,

‘looking pretty good’

LOPSIDED WIN: Senior girls on the softball field Tuesday as the BAISS softball sea

Mh

Le
es ee rt FE es et



SAFE ARRIVAL: On Thursday, half of Team Bahamas’ tennis players arrived to join the contingent of track and field competitors, cyclists
and boxers waiting to represent the Bahamas at the XIX Commonwealth Games in New Delhi, India. Above: Brent Stubbs, senior reporter
at The Tribune (right) and assistant boxing coach Floyd Seymour. Below: tennis player Nikkita Fountain and coach Leo Rolle.



FROM page 11

lot of physical wear and tear, espe-
cially after taking the 13-hour flight,”
Rolle stressed.

“But Nikkita is holding up pretty
good. We also expect Larikah to be
here today and the guys will be com-
ing in on Friday. I would have liked
to see them here earlier so they can
get acclimatized to the conditions,
but that’s a part of life.”

Rolle’s son, Marvin, is coming
from California where he was com-
peting in a tournament while
Munnings and Carey, are both com-
ing from Florida. All three were wait-
ing on their Indian visas to travel.

Floyd Seymour will join his cousin,
national coach Andre Seymour, as
they work in the corners of Valenti-
no Knowles and Carl Hield in the
boxing arena. This is the first time
that (Floyd) Seymour will get a
chance to work with the national
team.

And he is beaming with excite-
ment. “I couldn’t wait to get here to
work with the Bahamian boxers and
the rest of the team,” said Seymour,
a physical trainer and boxing coach
in Washington where he resides.

“So I’m excited. For the past sev-
eral years, I have been working with
the American amateur boxers,
including some of whom competed at
the 2008 Olympic Games. I always
got the question: ‘Floyd, when are
you going to work with the Bahami-
an team?’ I said I was always here. I
never left. So when Andre called me
and told me he got to work with him,
I was just thrilled. It’s an awesome
feeling to be working with my peo-
ple.”

Mark Holowesko reportedly has
an illness in his family and he sent an
e-mail to the Bahamas Olympic
Committee, informing them that he
regrettably won’t be able to travel
and compete.

“He sent his apologies and
expressed his disappointment that
he can’t come. He said he really
wanted to compete,” said Musgrove,
indicating the contents of
Holowesko’s message to the rest of
the team.

QC senior girls blow
out Kingsway Academy

son got underway Tuesday afternoon. The Comets won 18-3.

Photos by Kermit Taylor

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