N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER PLP lying over Mackey Yard Volume: 107 No.191FRIDAY, JULY 15, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER PARTLY SUNNY HIGH 90F LOW 81F By SANCHESKA BROWN P ROGRESSIVE Liberal Party operatives are spreading lies and propaganda con-c erning the Mackey Yard proposed subdivision in an attempt to discredit the gov-e rnment, according to Brens il Rolle, Parliamentary Secretary in the Ministry of Housing. M r Rolle said PLP opera tives are responsible for the arguments which erupted at a town meeting on Monday night, as well as all the false information being circulat ed in the press. H e said: For the most part, the conflict was caused by high operatives in the P LP, specifically operatives from the Garden Hills constituency. They said we are selling and exchanging landf or votes. Their comments Ministr y of ficial says party attempting to discredit govt over pr oposed subdivision TRY OUR McFLURRY SNICKERS The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM F IRSTTIMEINHISTORY B B I I S S X X E E N N D D S S 1 1 0 0 Y Y E E A A R R P P R R O O F F I I T T W W A A I I T T 3 4 HEADTOPUERTORICO D D E E B B B B I I E E , D D E E M M E E T T R R I I U U S S T T O O L L E E A A D D C C A A C C T T E E A A M M SEEBUSINESSSECTIONB SEESPORTSSECTIONE By CELESTE NIXON Tribune Staff Reporter email@example.com ARSON has been ruled out as the possible cause of a fire at FNM headquarters yesterday morning, police say. Speaking with The Tribune yesterday, Fire Services Superintendent Jeffrey Deleveaux said arson is definitely not the cause of the fire that struck FNM headquarters on Mackey Street. All indications are that the fire was electrical, he said. According to police reports, fire fighters were called to the scene shortly after 2am yesterday when smoke was spot ted coming from the roof of the building. Supt Deleveaux said the fire was contained to a council meeting room in the southeastern corner of the building SEE page eight AFTERMATH: The FNM headquarters suffered severe fire damage. Tim Clarke /Tribune staff ARSON RULED OUT IN FNM HEADQUARTERS FIRE B y NOELLE NICOLLS Tribune Staff Reporter firstname.lastname@example.org THE Department of Immigration has set up a special project team of 12 workers to process some 1,300 applications for citizenship and permanent residency which have been catching dust for decades. Brent Symonette, acting prime minister and minister of immigration, said there are 762 citizenship files and more than 600 permanent residency files of all nationalities that have been sitting in the filing cabinets for long periods of time because some form of document was not there. Their files were sitting dormant for years, because either they have not brought in some 1,300 CITIZENSHIP, PERMANENT RESIDEN CY APPLICATIONS SITTING DORMANT FOR YEARS SEE page three By SANCHESKA BROWN DUE to a backlog in visa applications, the US Embassy in Nassau has announced it will temporarily process only student visas. Embassy spokeswoman Erica Thibault said that due to the large number of stu dents attempting to go back to school in the next two months, the embassy is giving college students first priority when it comes to visas. In order to accommodate students who plan to study in the United States and reside in our consular district, we have reserved over 1,000 appointments in the month of August for applicants seeking an F1 or M1 visa. Currently, the next available appointment for students is on August 3. We encourage all students to apply for their appointment as early as possible, she said. Ms Thibault reminded students they do not need to have I-20 forms from their prospective schools at the time of their visa By NOELLE NICOLLS Tribune Staff Reporter email@example.com ACTING Prime Minister Brent Symonette, deputy leader of the Free National Movement, said he stands by his support of the constitutional amendment that would allow Bahamian women to confer citizen ship on their children. The law is creating havoc for Bahamian families, and the system would do well with reform, said Mr Symonette, who is also Minister of Immigration. Nonetheless, he does not think the matter will take centre stage on the FNM agenda before the next general election. I support the constitutional amendment 100 per cent. I think we were stupid not to have voted for it, if there was one item on that referendum people should have voted for. STUDENTS TO GET PRIORITY DUE TO US VISA BACKLOG SEE page eight SEE page eight FNM DEPUTY SUPPORTS W OMEN C ONFERRING CITIZENSHIP ON CHILDREN By CELESTE NIXON Tribune Staff Reporter firstname.lastname@example.org ANOTHER 60,000voters are expected to register before the next general election said parliamentary officials. With over 100,000 voters registered at the close of the 2007 electoral register yesterday Parliamentary Commissioner Errol Bethel said during a press conference held at the Parliamentary Registration building on Farrington Road that he expects the numbers to reach between 160,000 170,000 before Election writs are issued for the next general election. SEE page eight 60,000 MORE V OTERS EXPECTED TO REGISTER SEE page eight $ 4 .6 8$ 4 .5 1$ 4 .6 9T h e i n f o r m a t i o n c o n t a i n e d i s f r o m a t h i r d p a r t y a n d T h e T r i b u n e c a n n o t b e h e l d r e s p o n s i b l e f o r e r r o r s a n d / o r o m i s s i o n f r o m t h e d a i l y r e p o r t $ 5 2 5 $ 5 1 6 $ 5 2 2 T H E T R I B U N E S E C T I O N B b u s i n e s s @ t r i b u n e m e d i a n e t F R I D A Y J U L Y 1 5 2 0 1 1 B l a s t O f f !H e w o r k s h a r d f o r h i s g r a d e s Y o u w o r k h a r d f o r h i s d r e a m s D o n t l e t t h e u n e x p e c t e d i n t e r r u p t y o u r p l a n s S e c u r e t h e f u t u r e t o d a y w i t h F a m i l y G u a r d i a n A n d j u s t w a t c h w h e r e t o m o r r o w t a k e s h i m !L I F E I N S U R A N C E & A N N U I T I E S / a r e y o u p r e p a r e d ? A m e m b e r o f t h e F a m G u a r d G r o u p o f C o m p a n i e s C O N T A C T O N E O F O U R S A L E S R E P R E S E N T A T I V E S T O D A Y F a m i l y G u a r d i a n F i n a n c i a l C e n t r e E a s t B a y & C h u r c h S t r e e t s + 2 4 2 3 9 6 1 3 0 0 I w w w f a m i l y g u a r d i a n c o m B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r T h e u p c o m i n g $ 8 m i l l i o n A r a w a k C a y p o r t i n i t i a l p u b l i c o f f e r i n g ( I P O ) h a s a u n i q u e f l a v o u r i t s c h o s e n p l a c e m e n t a g e n t h a s t o l d T r i b u n e B u s i n e s s a s i t r e p r e s e n t s t h e f i r s t t i m e B a h a m i a n s h a v e a c h a n c e t o p a r t i c i p a t e f r o m t h e g r o u n d u p i n a n i n f r a s t r u c t u r e p r o j e c t o p e r a t e d a s a p u b l i c p r i v a t e p a r t n e r s h i p K e n w o o d K e r r c h i e f e x e c u t i v e o f P r o v i d e n c e A d v i s o r s w h i c h t o g e t h e r w i t h C F A L w o n t h e b i d t o b e t h e p l a c e m e n t a g e n t / f i n a n c i a l a d v i s o r t o t h e P o r t I P O t h a t i s l i k e l y t o t a k e p l a c e t h i s f a l l s a i d t h e f a c i l i t y u n l i k e s i m i l a r i n f r a s t r u c t u r e p r o j e c t s w o u l d b e o w n e d a n d r u n e n t i r e l y b y B a h a m i a n s H e a d d e d t h a t i t w a s h e a l t h y f o r t h e B a h a m i a n i n v e s t m e n t b a n k i n g m a r k e t f o r I P O w o r k t o b e s p r e a d o u t r a t h e r t h a n g o t o t h e s a m e o n e o r t w o f i r m s a l l t h e t i m e n o t i n g t h a t 7 5 p e r c e n t o f t h e s t o c k s c u r r e n t l y l i s t e d o n B I S X h a d b e e n b r o u g h t t o m a r k e t b y e i t h e r h i m s e l f o r C F A L s p r i n c i p a l s A s a g r o u p s p e a k i n g o n b e h a l f o f T o n y [ F e r g u s o n C F A L s p r i n c i p a l ] a n d t h e m i f I c o u l d w e r e g r a t e f u l f o r t h e o p p o r t u n i t y t o p r o v i d e o u r s e r v i c e s o u r e x p e r t i s e o u r e x p e r i e n c e i n t h i s s p a c e t h i s m a r k e t a n d b r i n g t h i s h i s t o r i c t r a n s a c t i o n t o t h e m a r k e t p l a c e M r K e r r t o l d T r i b u n e B u s i n e s s W e t h i n k i t p a r a l l e l s w h a t h a s h a p p e n e d a t t h e a i r p o r t t o a c e r t a i n e x t e n t b u t a l l B a h a m i a n s c a n p a r t i c i p a t e i n t h i s T h i s [ t h e A r a w a k C a y p o r t ] i s g o i n g t o a l l o w B a h a m i a n s t o p a r t i c i p a t e i n a n i n v e s t m e n t o f t h i s n a t u r e f r o m t h e g r o u n d u p I t h i n k i t s p r o b a b l y t h e f i r s t o f i t s k i n d t h a t B a h a m i a n s c a n r e a l l y p a r t i c i p a t e i n W h i l e t h e r e w e r e l o t s o f t h i n g s t h a t a r e v e r y p o s i t i v e a b o u t t h e A r a w a k C a y P o r t a n d u p c o m i n g I P O M r K e r r d e c l i n e d t o g o i n t o d e t a i l e x p l a i n i n g t h a t t h e s p e c i f i c s w o u l d a l l b e c o n t a i n e d i n t h e y e t t o b e r e l e a s e d o f f e r i n g m e m o r a n d u m H o w e v e r h e a d d e d t h a t t h e I P O w o u l d f o r t h e f i r s t t i m e e n a b l e B a h a m i a n r e t a i l a n d i n s t i t u t i o n a l i n v e s t o r s t o p a r t i c i p a t e i n a n i n f r a s t r u c t u r e i n v e s t m e n t 1 0 0 p e r c e n t o w n e d a n d o p e r a t e d b y B a h a m i a n s O t h e r u n i q u e c h a r a c t e r i s t i c s i d e n t i f i e d b y t h e P r o v i d e n c e A d v i s o r s c h i e f e x e c u t i v e w e r e t h a t t h e p u b l i c w o u l d b e p a r t i c i p a t i n g i n s u c h a n i n v e s t m e n t f r o m t h e g e t g o T h e P o r t w a s b e i n g a l s o b e i n g o p e r a t e d a n d o w n e d b y a p r i v a t e p u b l i c s e c t o r p a r t n e r K E N K E R R $ 8 M I L L I O N P O R T I P O S U N I Q U E F L A V O U R I n v e s t o r s t o p a r t i c i p a t e f r o m g r o u n d u p i n f u l l y B a h a m i a n o w n e d p r i v a t e p u b l i c i n f r a s t r u c t u r e p a r t n e r s h i pS E E p a g e 9 B B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r T r a n s f e r S o l u t i o n s P r o v i d e r s ( T S P ) t h e M a n g o c a r d a n d p a y m e n t p r o c e s s i n g s y s t e m p r o v i d e r h a s e x t e n d e d i t s $ 5 4 3 8 m i l l i o n p r i v a t e p l a c e m e n t u n t i l m o n t h s e n d t o g i v e k e y i n v e s t o r s t i m e t o r e a c h a d e c i s i o n i t s p r e s i d e n t y e s t e r d a y s a y i n g t h e o f f e r i n g h a d a t t r a c t e d g l o b a l i n t e r e s t f r o m r e g i o n s s u c h a s A s i a a n d t h e M i d d l e E a s t D r J o n a t h a n R o d g e r s t h e w e l l k n o w n e y e d o c t o r c o n f i r m e d t o T r i b u n e B u s i n e s s t h a t t h e T S P p r i v a t e p l a c e m e n t h a d b e e n e x t e n d e d u n t i l t h e e n d o f J u l y a d d i n g t h a t t h e O m n i F i n a n c i a l S e r v i c e s m o n e y t r a n s f e r b u s i n e s s w h i c h u p u n t i l n o w h a s b e e n r u n a s a s e p a r a t e u n i t t o M a n g o u n d e r t h e T S P b a n n e r w o u l d b e i n t e g r a t e d i n t o o n e w i t h t h e c a r d / p a y m e n t t e c h n o l o g y p r o v i d e r W e h a v e s e v e r a l h i g h n e t w o r t h i n d i v i d u a l s a n d a l s o s o m e n o t s o h i g h n e t w o r t h i n d i v i d u a l s a s w e l l a s i n s t i t u t i o n s c l o s e t o m a k i n g s o m e d e c i s i o n s D r R o d g e r s s a i d e x p l a i n i n g t h e r a t i o n a l e f o r e x t e n d i n g t h e p r i v a t e p l a c e m e n t H e a c k n o w l e d g e d t h a t m a n y k e y d e c i s i o n m a k e r s w e r e a w a y d u e t o t h e s u m m e r h o l i d a y s a d d i n g t h a t t h e T S P o f f e r i n g s h o u l d a p p e a l t o b o t h w e a l t h y i n d i v i d u a l s a n d i n s t i t u t i o n s s u c h a s p e n s i o n f u n d s a n d b a n k s T h e r e w e r e a l s o m a n y B a h a m i a n i n v e s t o r g r o u p s w h o o n c e o n e m e m b e r d e c i d e d t o i n v e s t a l l c a m e o n b o a r d H o w e v e r i f B a h a m i a n i n v e s t o r i n t e r e s t p r o v e d i n s u f f i c i e n t t o g e t t h e p r i v a t e p l a c e m e n t f u l l y s u b s c r i b e d t h e T S P p r e s i d e n t s a i d t h e c o m p a n y w o u l d m o r e t h a n w e l c o m e t h e i r f o r e i g n c o u n t e r p a r t s W e h a v e g r o u p s w o r l d w i d e w a n t i n g t o i n v e s t D r R o d g e r s t o l d T r i b u n e B u s i n e s s W e p r e f e r l o c a l i n v e s t o r s a s w e r e a M a n g o p r o v i d e r e x t e n d s $ 5 4 m p r i v a t e o f f e r i n g S a y s i n t e r e s t c o m i n g f r o m A s i a a n d M i d d l e E a s t O m n i F i n a n c i a l a n d M a n g o t o m e r g e i n t o o n e B e l i e v e s t e c h n o l o g y c a n b e t h i r d a r m o f e c o n o m yS E E p a g e 9 B B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r T h e B a h a m a s C h a m b e r o f C o m m e r c e a n d E m p l o y e r s C o n f e d e r a t i o n ( B C C E C ) c h a i r m a n l a s t n i g h t d e s c r i b e d t h e s e e m i n g l a c k o f c o n s u l t a t i o n o v e r t h e r e f o r m e d C u s t o m s M a n a g e m e n t A c t a s v e r y c o n c e r n i n g w i t h T r i b u n e B u s i n e s s c o n f i r m i n g t h a t t h e c o n s u l t a t i v e c o m m i t t e e s u p p o s e d t o e x a m i n e t h e l e g i s l a t i o n p r i o r t o i t s g o i n g t o P a r l i a m e n t n e v e r m e t B o t h t h e f o r m e r B C C E C c h a i r m a n K h a a l i s R o l l e a n d h i s c u r r e n t G r a n d B a h a m a C h a m b e r o f C o m m e r c e c o u n t e r p a r t K P T u r n q u e s t t o l d t h i s n e w s p a p e r t h a t d e s p i t e b e i n g i n v i t e d t o s i t o n t h i s c o m m i t t e e t h e y n e v e r a t t e n d e d C u s t o m s A c t c o n s u l t a t i o n a b s e n c e v e r y c o n c e r n i n g C o n s u l t a t i v e c o m m i t t e e s u p p o s e d t o b e e s t a b l i s h e d t o r e v i e w k e y 3 5 0 p a g e l e g i s l a t i o n n e v e r m e tS E E p a g e 4 B B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r T h e B a h a m a s I n t e r n a t i o n a l S e c u r i t i e s E x c h a n g e ( B I S X ) m a d e a p r o f i t f o r t h i s f i r s t t i m e i n i t s 1 0 y e a r h i s t o r y d u r i n g 2 0 1 0 i t s c h i e f e x e c u t i v e c o n f i r m e d y e s t e r d a y a d d i n g t h a t h e w a s c o n t i n u i n g t o p u r s u e r e c o g n i t i o n o f t h e e x c h a n g e b y t h e U S S e c u r i t i e s & E x c h a n g e C o m m i s s i o n ( S E C ) K e i t h D a v i e s d e s c r i b e d s u c h r e c o g n i t i o n a s o n e o f t h e m a j o r c o m p o n e n t s o f t h e i n t e r n a t i o n a l s t r a t e g y w e h a v e a d d i n g t h a t a t e l e p h o n e c o n f e r e n c e b e t w e e n B I S X a n d t h e S E C t o d e t e r m i n e w h e r e t h e p r o c e s s s t o o d w a s s c h e d u l e d f o r y e s t e r d a y H e d e s c r i b e d a c h i e v i n g f o r B I S X e n d s d e c a d e l o n g p r o f i t w a i t K E I T H D A V I E S G e t s i n t o b l a c k f o r f i r s t t i m e i n e x c h a n g e s h i s t o r y P u r s u i n g r e c o g n i t i o n b y S E C a s m a j o r c o m p o n e n t o f i n t e r n a t i o n a l s t r a t e g y S E E p a g e 4 B B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r R o b i n H o o d s p r i n c i p a l l a s t n i g h t t o l d T r i b u n e B u s i n e s s h e h a d f o u n d i n v e s t o r s t o b u y o u t a t l e a s t s o m e o f t h e e q u i t y s t a k e h e l d b y h i s U S b a s e d p a r t n e r S u r e s h K h i l n a n i a s h e a t t e m p t s t o s e t t h e r e t a i l e r b a c k o n t r a c k f o l l o w i n g t h e e n d o f C i t y M a r k e t s e f f o r t s t o a c q u i r e h i s f o o d b u s i n e s s S a n d y S c h a e f e r t h o u g h d e n i e d t h a t t h e i n v e s t o r i n q u e s t i o n w a s H u b e r t P i n d e r S o u r c e s f a m i l i a r w i t h d e v e l o p m e n t s h a d t o l d T r i b u n e B u s i n e s s t h a t M r P i n d e r w h o h a d p r e v i o u s l y b e e n i n t e r e s t e d i n i n v e s t i n g i n R o b i n H o o d b e f o r e b a c k i n g a w a y l a t e i n t h e d a y h a d r e i g n i t e d h i s i n t e r e s t a n d a t e a m o f a c c o u n t a n t s h a d b e e n s c o u r i n g t h e r e t a i l e r s b o o k s a s p a r t o f a d u e d i l i g e n c e e x e r c i s e o n h i s b e h a l f W e w e r e s p e a k i n g w i t h p e o p l e a n d d o i n g a d e a l M r S c h a e f e r s a i d w h e n c o n t a c t e d b r i e f l y b y t h i s n e w s p a p e r l a s t n i g h t B u t o f M r P i n d e r s i n t e r e s t h e a d d e d : T h a t n a m e i s n o t f a m i l i a r t o m e S t i l l h e t o l d T r i b u n e B u s i n e s s t h a t m o v e s w e r e u n d e r w a y t o a t l e a s t p a r t l y b u y o u t M i a m i b a s e d M r K h i l n a n i s s t a k e i n t h e b u s i n e s s a d d i n g : W e v e e n t e r e d i n t o a n a g r e e m e n t t o d i v e s t m y p a r t n e r s o f s o m e s h a r e s W e v e a l r e a d y s i g n e d a n a g r e e m e n t T r i b u n e B u s i n e s s u n d e r s t a n d s t h a t M r K h i l n a n i h a s a t l e a s t $ 9 m i l l i o n i n v e s t e d i n R o b i n H o o d t h r o u g h a c o m b i n a t i o n o f e q u i t y a n d l o a n s I t i s t h o u g h t h e h a s b e e n s e e k i n g a n e x i t r o u t e f r o m h i s p a r t n e r s h i p w i t h M r S c h a e f e r f o r s o m e m o n t h s a n d i s e a g e r t o r e c o u p a s m u c h o f h i s i n v e s t m e n t a s p o s s i b l e H e d e c l i n e d t o g o i n t o d e t a i l b u t s a i d R o b i n H o o d w a s b u i l d i n g t h e b u s i n e s s b a c k u p a g a i n a f t e r t h e d i s t r a c t i o n s o f t h e p o t e n t i a l C i t y M a r k e t s d e a l t h a t f e l l t h r o u g h D E A L A F O O T T O B U Y O U T R O B I N H O O D P A R T N E R
LOCAL NEWS PAGE 2, FRIDAY, JULY 15, 2011 THE TRIBUNE A S part of his visit to China, Sir Orville Turnquest, a former Governor-General of the Bahamas, yesterday launched the latest vessel to be registered on the Bahamian ship registry. The CS Calvina is a 37,000-tonne dry bulk carrier that will join the fleet of the Campbell Shipping Company Limited, a Bahamian company which operates from the Campbell Maritime Centre on West Bay Street. Lowell J Mortimer, president of Campbell Shipping, said the CS Calvina is one of many ships on the Bahamian registry which was built in China. G TR Campbell, another Bahamian based company, supervised the construction of the CS Calvina, which was built by the Tianjin Xingang Shipbuilding Heavy Industry Co Ltd. The launch was followed by a special dinner hosted by the shipyard. The delegation from Nassau for the launch included Sir Orville, Caryl Lashley; Charles Lashley; Kamana Valluri; Leroy Major; Peter Ramsay, and Brandon Charlton. Peter Ramsay /BIS SIR ORVILLE LAUNCHES LATEST BAHAMIAN REGISTERED VESSEL
B y NOELLE NICOLLS T ribune Staff Reporter email@example.com GOVERNMENT officials are refuting claims made byt he Democratic National Alliance about clandestineo perations at the Department of Immigration. Acting Prime Minister Brent Symonette said comments made by Branville McCartney,l eader of the DNA, were irres ponsible. M r McCartney, a former minister of state for immigration, claimed that disgruntled employees in his former office told his party that around 2,000i llegal immigrants are to be secretly regularised as Bahamian citizens. However, Mr Symonette told The Tribune this could not be further from the truth. He said citizenship applicat ions are being processed based o n the same procedures used b y Mr McCartney during his time at the ministry, although much of the process has sinceb een digitised. A pplicants go through a detailed vetting process, where they are usually required to p roduce birth certificates, health records and school records. They are required top articipate in interviews, usually several. Ultimately, the Cabinet, serving as the board of immigration, gives the final authorisation during a monthly immigration meeting, said Mr Symonette. The basic process is the same for citizenship and permanent residency applicat ions, except in the case of s pousal applications, which do not have to go to Cabinet. Nothing has changed in thep rocess since Branville McCartney was minister of state. H e did not change the p rocess. I havent c hanged his process. I met the process there before when I was minister in 1992. T hat is the process, said M r Symonette. Any issue or question that it was done secretly, clandes-t inely, or whatever word, is t otally irresponsible. I have outlined the process. The leader of the DNA made no attempt as a senior minister, as far as I am aware, to change t hat process. He met it there and he left it there, he said. T he only recent change that may be causing confusion for the DNA, Mr Symonette said, is a new initiative at the department aimed at processing some1 ,300 applications for citizens hip and permanent residency that have been catching dust for decades (see story, page 1 A special project team was employed to deal with these back-logged cases, while the permanent staff continues top rocess current applications. As for the swearing in ceremony conducted for successful applicants, Mr Symone tte said that cerem ony is not public. It is attended by s enior government officials and family members. I n New Providence, he said the c eremony takes place in the swearing in room. In Grand Bahama, he said, it takes place in the PrimeM inisters office, and in Abaco, h e said, it takes place in a Marsh Harbour court house. In all cases, Mr Symonette said, applicants seeking citizenship are required to demons trate knowledge of the Bahamas, including the pledge o f allegiance, national anthem and national symbols, during the interview stage. He said there was a class covering this information started under McCartneys watch, but which ceased while he was still minister of state. They were a one-morning i ssue. I dont want to give the impression you came in on Saturday for weeks, added Mr Symonette. LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 15, 2011, PAGE 3 THERE have been two confirmed dengue fever cases out of 26 suspected incidents for the year thus far, Health Minister Dr Hubert Minnis said. The Department of Environmental Health has subsequently stepped up fogging exercises in southern New Providence, the area where those patients with confirmed cases live. In 2010, there were 10 confirmed dengue fever cases. "Last year we had about 51 suspected cases; out of that only 10 were confirmed. This year so far we had 26 suspected cases; of that 26 only two were positive. But once they come in with symptoms we automatically test them. "We've identified the areas they would have come from and communicated to Environmental Health to increase the fogging to be on the safe side. Environmental Health has increased fog ging especially to the south such as Carmichael Road, Bacardi Road, Ridgeland and South Beach." Dr Minnis added that the ill patients caught the disease locally. "These incidents were not related to travel but there is an increase in dengue throughout the region. We've increased our fogging and that's why the Bahamas did not suffer like some other countries in the region," said Dr Minnis. Dengue fever is a potentially deadly mosquitoborne infection that causes severe flu-like symptoms often accompanied by a rash. Wearing insect repellent or long-sleeved clothing in areas where mosquitos are prevalent helps to minimise infection. document, or we wrote a letter to general delivery, or whatever, he said. The new employees, hired under the governments recently announced job-creation programme, were tasked with the responsibility of pulling all of the files to find out why they have been sitting dormant for years with no process. These applications will then go through the standard process of regularisation. If you want to allege there is a thrust to get people regularised before the next election, No. We want to make sure that people who (are entitled and deserving) can get regularised, because they have been languishing in filing cabinets for years, said Mr Symonette. Any person born in the Bahamas has a constitutional entitlement to apply for citizenship between the ages of 18 and 19, regardless of their parental heritage. Despite the varied opinions on the matter, Mr Symonette said, that is the l aw. He said not all Bahamians know what it feels like to be born in the Bahamas, live there all their lives, go through the school system, work in the country, and have to wait decades to be regularised. The new electronic system s hould help prevent new back log from accumulating, said Mr Symonette, because no applications are accepted by the electronic system unless all of the required documentation is there. As for processed applications, Mr Symonette said 1,144 applicants were granted citizenship b etween May 2, 2007 and June 30, 2010. In that same time, 1,165 permanent residence applications were approved; 1,506 spousal permits and 10,012 permits to reside. Between May 2, 2002 and May 2, 2007, under the former administration, Mr Symonette s aid the government granted 2,083 citizenship requests; 1,582 permanent residence, 2,286 spousal permits and 22,839 requests for permits to reside. He said the department doesnot have collated statistics on the number of rejected applica tions. DPM: Brans comments were irresponsible MINISTER:TWO CONFIRMED DENGUE FEVER CASES D EPUTYPRIMEMINISTER Brent Symonette DNALEADER Branville McCartney 1,300 CITIZENSHIP, PERMANENT RESIDENCY APPLICATIONS SITTING DORMANT FOR YEARS FROM page one
EDITOR, The Tribune. The Grand Bahama Port Authority is doing a great job in beautifying the downtown Freeport area through its Downtown Turnaround Project. For years that part of Freeport City was an eyesore and an embarrassment to all decent citizens of Grand Bahama. T here were certain areas in that part of the city that was dirty and smelly. Even the Churchill Square was a complete turn-off to me. I used to smell human faeces and urine around the square. I commend Mr Ian Rolle and h is staff at the Grand Bahama Port Authority for this timely endeavour. Freeport really needed this. Nevertheless, I still have one major concern about the downtown area: There are too many vagrants and beggars who frequent that part of the city. W hen I visit the downtown area to shop, I am often harassed bya group of young healthy men and women who are always begging for money. This is becoming very annoying. And to make matters worse, these vagrants are not handicapped or ill. So why arent they work-i ng like everybody else? This has nothing to do with the recession. Several of these per sons were in the begging pro fession since the early nineties. Grand Bahamas economy was vibrant during the mid to late nineties. I know a few of these vagrants quite well. The Apostle Paul declared that if a man would not work, neither should he eat. These vagrants need to go and look for a job. The GBPA and the local police force have got to do something about this vexing problem. Otherwise, the great improvements that were made to the city area will all be for naught. Perhaps it is high time that the wealthier churches on the island establish some halfway houses for these vagrants, in order to get them off the streets. After establishing the halfway homes, the churches should then partner with Bahamas Technical and Voca tional Institute in order to train these vagrants with the skills they need to become productive citizens in this country. It has become obvious to me that many of these beggars int he downtown area have no desire to work at all. They are too lazy. I started working at age 14. I was raised in abject poverty. However, I worked my way out of poverty. I could never bring myself to do what these lazy vagrants are d oing. Rather than beg, I chose to work for my own money instead. It can be done; but you must be willing to work. I dont see how these persons could look themselves in the mirror, knowing that they b eg for a living. These vagrants have become p rofessional beggars. I had seen one of the beg gars harassing the tourists in the city area. This could cost Grand Bahamas tourism sector to go further downhill. This is the last thing that Grand Bahama needs right now. But these lazy beggars just dont care. Hard work won't kill anyone. It never has. It was the late German sociologist and political economist, Max Weber, who wrote in his groundbreaking book The Protestant Ethic and The Spir it of Capitalism that, Begging, on the part of one able to work, is not only the sin of slothfulness, but a violation of the duty of brotherly love according to the Apostles own word. Weber also noted that waste of time is thus the first and in prin ciple the deadliest of sins. The Pilgrims who came to America in 1620; as well as suc cessive generations of Europeans who came to that great land after them, worked tirelessly to make America what it is today the wealthiest nation i n the history of human civilization. They were not lazy. The same can be said about our Bahamian forefathers. They worked hard to make this coun try what it is today. Had our forefathers, as well as the pilgrims, been as lazy as the vagrants in the downtown Freeport area, the Western world wouldve still been in the condition Christopher Columbus met it in 1492. Christian Reformers like John Calvin, Martin Luther and Ulrich Zwingli, all stressed the importance of hard work and diligence. The economic foundation that these great Christi an leaders laid down is the very foundation that Western civilization is built on. The Reformers were all industrious men. According to them, laziness was an insult to God. These lazy vagrants must realise that laziness is not only wrong; it is a sin. King Solomon s aid: Go to the ant, thou sluggard, consider her ways, and be wise. Which having no guide, overseer, or ruler, provideth her meat in the summer, and gathereth her food in harvest. How long wilt thou sleep, o sluggard? Yet a little slumber, a little folding of the hands to s leep. So shall thy poverty come as one that travelleth, and thy want as an armed man ( Proverbs 6:6-11). The vagrants who frequent the downtown area should heed those words! KEVIN EVANS Nassau, J uly 11, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, FRIDAY, JULY 15, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES S witchboard (News, Circulation and Advertising) 322-1986 A dvertising Manager (242 W EBSITE w ww.tribune242.com updated daily at 2pm THE CAUSE of crime as we know it today was born in politics and until political leaders recognise this fact, stop trying to blame someone else and join the fight to stamp out a common problem, crime will continue to escalate. At times the PLP talk as though crime is an FNM problem, that the Christie government had it under control during its short administration with its urban renewal programme, and if we are to take their reasoning to its logical conclusion crime will not go away until the PLP are returned to power. Nothing could be further from the truth. The people in this country closed the old year in fear for their lives, for their personal safety, for their properties. These were not the words of a present day politician. These were the words of the late Sir Lynden Pindling, during whose administration crime as we know it today had driven a frightened community into their homes behind security bars. The year was 1990, the month was April, and Sir Lynden, addressing a PLP rally in the Oakes Field area, was encouraging the police in the admirable job they were doing in trying to make residents feel safer in their communities. By the end of 1989 Sir Lyndens adminis t ration faced a new year with three major problem one was cleanliness. If we pick up paper ourselves and put it in the nearest drum and dont wait until the next fellow comes along to do it, the place will be cleaner right away, he said. Sir Lynden seemed to forget that towards the end of the UBP administration, littering was suddenly becoming a problem. The leg i slators of that day, who were accustomed to a clean community, decided that the only way to quickly deal with the problem before it became an epidemic was to introduce littering laws. Some of our readers might remember the squeals from the PLP quarters. Discrimination! they hollered, the white man was taking away the freedom of the black man we believe the squabble start e d over the littering of the Eastern Parade, then thought by some to be the white mans recreation area. In defiance, littering grew and prospered. By 1990 some 23 years later Sir Lynden was appealing to his people for cleanliness. Today civic minded citizens organise periodic clean up campaigns to try to keep the country clean. These citizens clean up for a people who still refuse to clean up after themselves. Politicians do and say things without thought just to gain a selfish moment of glory. They dont realise the burden they are bequeathing to future generations by their irresponsible words and actions. Today we see the fallout from the fight in the early sixties over the littering laws. And then there were the schools. Sir Lyndens third objective that year was to tackle the problem of discipline in society starting with the schools. He wanted teachers tobe given more authority to discipline children he never suggested that their responsibilities should be taken over by a Royal Bahamas Police Force officer stationed on campus. The teachers do their best to instil cleanliness in the children, Sir Lynden said. But the parents say we pass that age now. The janitor supposed to do that. The janitress supposed to do that or the Haitians supposed to that. Thats the problem and those are todays problems, including the Haitian problem. We are falling backward with sophistication, said Sir Lynden, because we have got slack and weve got lazy and weve got sophisticated over these last 20 years and thats our fault. I accept responsibility for that. Speaking at the PLP convention in November of the same year 1990 Sir Lynden was back on the same theme. By then, he said, he had changed his mind on a ttitudes. He was concerned that too many young men avoid work like the plague because parents often required too little work of them. We told them that they were too good to be gardeners, too good to be sanitation men, too good to work with their hands. As the great grandson of a slave I told many of my brothers those things myself. Att he time, I was trying to elevate their goals; I wanted to spare them some pain and suffer ing. But, I didnt know then what I know now, that any work breeds character. Too many young men lack character today; too many, too often shirk responsibility because they have never been held accountable for their actions at home, in school or in society.T herein may lie the heart of the problem, Sir Lynden told the convention. Did Sir Etiennes writings on this subject eventually get through to Sir Lynden? No one knows. However, in the end Sir Lynden was man enough to admit his errors how ever, it was too late to turn back the tide. This is one of the legacies that Sir Lynden has left his party and the Bahamian people. Instead of his successors trying to search for a scapegoat, we suggest they accept the bur den and get on with the job of trying to assist all of us in rescuing this society from a destruction of its own making. Too many lazy vagrants in downtown Freeport area LETTERS l firstname.lastname@example.org Sir Lynden reveals cause of todays problems EDITOR, The Tribune. The Bahamas has seen an ever increasing crop of world class athletes and I feel that s ome credit needs to go to Frank Rutherford, who won the bronze medal in the 1992 Olympic Games in Barcelona, competing in the triple jump. This was the first Olympic medal for the Bahamas in track and filed. Since then, we have seen a virtual explosion of athletes competing at a very high level and since Rutherfords historic triple jump we have won three Olympic Gold medals in track and field. Pauline DavisThompson owns two of these gold medals. From the Golden Girls, Avard Moncur, Tonique Williams Darling and Chris Fireman Brown, our athletes continue to make us proud on and off the field. These are just a few examples of the many athletes who have excelled in track and field. Congratulations go out to Team Bahamas that competed in the recent IAAF World Youth Championships in Lile, France. We won three gold medals and one bronze medal. Stephen Newbold won a gold medal in the 200 meters, twin brothers Latario and Lathone Collie-Minnis won gold and bronze in the triple jump respectively and Shaunae Miller won gold in the 400 meters. Shaunae Miller set a new Bahamian junior national record with an excellent run time of 51.84 seconds. She is also the first woman in history to hold the titles of World Junior and World Youth Champion. This is, of course, also a first for the Bahamas. This is a major feat and deserves above average recognition from the Bahamian peo ple. An old adage says that we need to heighten the positive and not the negative. I am a firm believer in this. What our athletes are doing is very significant, but the average Bahamian apparently does not appreciate the magnitude of these accomplishments. I hope that just as we give alleged murderers extensive coverage on all forms of media, that we can begin to do the same for our athletes who make us very proud to be Bahamian. Lets celebrate them. They deserve it. DEHAVILLAND MOSS Nassau, July 2011. OUR A THLETES CONTINUE TO MAKE US PROUD
By MEGAN REYNOLDS Tribune Staff Reporter email@example.com APPEALS filed by the older of two Israeli brothers engaged i n a seven year legal battle over more than $100 million in assets were granted in the Court of Appeal yesterday, but the appearance by former British Attorney General and one of the most controversial figures in Tony Blairs Cabinet signified the dispute is far from over. L ord Peter Goldsmith, QC, the longest serving Labour Attorney General at the heartof a political storm about the legality of the Iraq war appeared before the bench at the Court of Appeal to high light a disparity in the tran scripts of proceedings from Jus t ice Stephen Isaacs court. He called on the Appeal Court judges to ask for the original transcript of the hearing on June 9, 2010 to be providedby the court reporter to serve as evidence in his appeal, as the transcripts held by opposing counsel differ from his own. The court is going to find itself ultimately in a difficult position, Lord Goldsmith asserted. We are going to say, This is what the judge said, and they are going to say, No he didnt, and the evidence is with the court reporters; they have theo riginal transcript and we cant get it. We made a request and now we ask your lordships to ask for it, get them to write copies to all the parties, then all the arguments about its admissibility and so on can be dealt with later. Lord Goldsmith argued the serious circumstances should command support from all parties in a call for this crucial evidence. Now a partner at Debevoise and Plimpton LLP, Lord Goldsmith specialises in International Dispute Resolution, International Corporate Investigations and Defence. He was the longest serving Labour Attorney General under Tony Blairs leadership and stood down on the same day as the then Prime Minister in June 2007. Controversies Among the various controversies he was involved in was the political storm over the legality of the Iraq war as pri vate notes he had written to Blair detailing his concerns about whether the war was legal emerged in 2005. His appearance yesterday was in relation to an appeal made by Rami Weisfisch on May 5, one of the litany of legal disputes between the brothers over the last seven years, and separate to the appeal granted yesterday. The courts decision to remove Amir Weissfitchs three children, represented by Brian Moree, QC, from being parties to the proceedings and set aside the order pertaining their costs spelled a minor victory for Rami Weisfisch yes terday. He and his wife celebrated the outcome and said justice had prevailed after the judgment was read by Justice Christopher Blackman at the end of two days of submissions by Nicholas Lavender, QC, on behalf of Mr Weisfisch, and Brian Moree, QC, on behalf of the children. Mr Lavender had argued there was no need for the continued involvement of the children in the case as their posi tion simply supports their fathers. When Mr Moree took the stand yesterday he failed to convince the bench the children could not be removed asa participating party because they were protected by a contractual agreement. He further argued the chil dren were entitled to party-toparty costs based on a Supreme Court ruling and their interest in the Trust. Justice Blackman said the ruling of March 25 2010 would b e set aside as he granted the appeal on costs, and as he approved the appeal to remove the children from the proceedings he listed condi tions varying the ruling given by Justice Isaacs in August 2010. He said the costs in respect to both appeals will be addressed in the written judgment expected to be published in September. Following the judgment Mr Moree said he had not been allowed adequate time to fully develop his arguments yesterday and expressed his intention to appeal the decision to the Privy Council. LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 15, 2011, PAGE 5 TO PREPAREBahamians for entrance into the job market, government yesterday launched the National Job Readiness and TrainingP rogramme, under which participants w ill have their salaries subsidised by up to $210 a week. Prime Minister Hubert Ingraham announced during this years Budget Debate that it is his Governments intention to prepare the Bahamia n population to take full advantage o f the economic rebound. With this in mind, the National Job Readiness and Training Programme was created to include three major components, Labour Minister Dion Foulkes and Youth, Sports and Culture Minister Charles Maynards aid in a joint press statement yesterday. The three components of the programme are: Job readiness This component i s primarily aimed at young unemployed Bahamians age 30 and under; they will have an opportunity to gain b asic work force experience through work shops and job placement. Job training This is aimed at giving persons over the age of 30 the chance to enhance their existing skills or gain new skills through study and work placement. General job placement This component is designed to allow u nemployed Bahamians to work in designated industries such as but notl imited to tourism, financial services a nd the industrial trades. These programmes are intended to prepare Bahamians for entrance into the labour market and to enhance existing skills by bringing together the business community and prospective employees, the minis-t ers said. The Government will subsidise the salary of all participants up to $210 per week. Bahamians wishing to participate can collect and fill out applications forms from Monday, July 18, to Frid ay, July 22, between 9.30 am and 3 pm from the following locations in New Providence: LW Young Junior High School C R Walker Senior High E P Roberts Primary School Anatol Rodgers High School C V Bethel Senior High H O Nash Junior High In Grand Bahama: Eight Mile Rock High School West End Primary School Jack Hayward High School High Rock Primary The Government wishes to e nsure that all applicants receive service in a timely manner, therefore applicants whose surnames begin with letters A through F should go to the registration centres on Monday, July 18. Those with surnames beginning w ith letters G through L will be r egistered on Tuesday, July 19. Surnames beginning with letters M to R on Wednesday, July 20, and surnames beginning with letters S to Z on Thursday, July 21, Ministers Maynard and Foulkes said. I n the Family Islands, forms can b e collected from District Administrators office beginning on Monday, July 18 and must be returned by Friday July 22. Forms can also be downloaded from the website www.bahamas.gov.bs starting on M onday. Application forms are to be returned to the centres from which they were collected accompanied bya National Insurance card, the first f our pages of a passport or birth certificate, and copies of academic certificates. E mployers wishing to take part in this programme by hiring persons can register at firstname.lastname@example.org. By LAMECH JOHNSON A MAN was granted $8,000 bail after appearing before a Magistrates Court yes-t erday to answer charges of housebreaking and stealing. Jamal Ferguson, 38, of Fire Trail Road, appeared before Magistrate Carolyn VogtEvans in Court 6, Parliament Street to be charged with breaking into Robertha Johnsons home and stealing gold jewellery and electronics belonging to Ms Johnson. It is alleged that on June 28, the accused b roke into Ms Johnsons residence on Vanria Avenue and stole the following items:a gold Gucci watch valued at $1,000; a gold and white Rolex watch worth $2,500;a Fossil watch worth $350; two gold chains worth $300; a gold nugget bracelet worth $700; two gold bracelets worth $960; assorted gold rings worth $1,000, and a Playstation and digital camera worth $300 and$ 200 respectively. Ferguson, who told the court he is currently employed, pleaded not guilty to housebreaking and stealing and was granted bail with two sureties. He is expected to report to the Grove Police Station on Fridays and Sundays before 10pm. The case will be heard before Magistrate Vogt-Evans on March 8, 2012. MAN IN COURT ON HOUSEBREAKING, STEALING CHARGES ISRAELI BROTHERS DISPUTE: FORMER BRITISH AG APPEARS BEFORE BENCH COURTNEWS Government launches National Job Readiness and Training Programme LABOUR MINISTER Dion Foulkes ( left) and Youth, Sports and Culture Minister Charles Maynard. BID TO PREPARE BAHAMIANS FOR ENTRY INTO JOB MARKET
AN EXECUTIVE at Sandals Emerald Bay in Exuma yesterday denied tabloid reports that claimed the property's in-house barbershop has f orced another operation on that island out of business. The report, published in a tabloid yesterday, claimed that a barbershop near the Exuma resort was forced into closure after the all-inclusive property opened its own hair salon for men. The report also claimed that Sandals' low pricing had undercut the local competitor and that a Jamaican was hired by the hotel to run the in-house barbershop. However, when The Tribune contacted the owner of the reportedly closed down D & B Barbershop in Steventon, Exuma yesterday, the business was open. Owner Daniel Armbrister said he did not h ave time to comment on the published claims. Jeremy Mutton, general manager of Sandals Emerald Bay, denied the tabloid claims and stressed that Sandals' barbershop is a back-of-the-house operation which caters solely to employees, not guests or locals. He added that staff pay a nominal fee to access the barbershop along with other on-site employee amenities. "We took the initiative earlier this year to open a barbershop for our team members for a number of reasons; to make it easier for them because of their shifts and the hours they work. It's l iterally just a facility for our team members, many of whom live on the resort and don't have access to George Town. Unfortunate "It's unfortunate that someone would make such accusations. And at the end of the day the barbershop is just one of many initiatives we have that fall under sports and social clubs. (Employees small amount (of money internet caf and the barbershop. And any money that team members save here they spend in the local community," he said. Mr Mutton added that Sandals' barber is an Exum a native who was hired by the resort at a time he was on the verge of unemployment. "The person who we have employed since day one at the barbershop is an Exumian. He used to do barber work on his front porch but we knew he was a talented barber who was going to lose his job, he said. Mr Mutton added that Emerald Bay has not opened a liquor or food store on-site, which was another tabloid claim, but does support the local grocer through purchasing employee food vouchers from the establishment. LOCAL NEWS PAGE 6, FRIDAY, JULY 15, 2011 THE TRIBUNE Sandals executive denies tabloids barbershops report NATIONAL Security minister Tommy Turnquest encouraged hundreds of children, facilitators and volunteers to continue to invest in constructive activities and attitudes during his tour of the Royal Bahamas Police Force Summer Camp yesterday. Mr Turnquest said: "It's extremely important to have the relationship between the police and young people. The police every summer have been able to bring together young people from the various communities under divisional commanders, so it's really within the various areas and you don't have to move outside of your neighbourhood. "It gives them an opportunity to work with the young people, to talk to them, to teach them, to bring them in an environment where police are able to work with young people and let them know that its important to be good productive citizens even at a young age and to work with the police. This is a wonderful initiative." More than 3,000 children will have participated at one of the 10 camp divisions. Over six weeks, there will be speech competitions, soccer matches sponsored by the Bahamas Football Association, basketball games spon sored by Caribbean Bottling, and musical performances with instruments and equipment provided by the Lyford Cay Foundation. Teen participants also will be visiting radio stations and media houses, in addition to participating in sports and other activities. Anastacia Ferguson, Southwestern camp co-ordinator, said: "It gives kids an outlet to do things that they enjoy. It's a controlled environment where they can be along with other kids where they feel free to express themselves. "They can choose to do other things, but instead they're here and they're making a difference. We are grooming our future prime ministers, doctors, teachers so with this camp now is just a step in the right direction." Each camp hosts an average of 150 children from various socio-economic back grounds in an informal and safe atmosphere where they can use their talents and have fun at the same time. The age range for most camps is five to 15; however, most camps make determinations based on the individual's maturity level. Older children are used as volunteers and mentors. Trevor Thompson, a 17-year-old student volunteer said: "Children come from different backgrounds but they are all the same, they come here and learn. The police here are like family, you don't even look at them like police because they give us advice every day, they push us to talk to the children and counsel them." The informal setting encourages increased bonds between police and the community, according to another police camp coordinator, Humphrey Bain. Mr Bain said: "With the summer school, there is a vacation setting type, you can get more down to earth with the kids because we're not in uniform and we have some commonality in that all of us are dressed casually. The kids begin to get com f ortable with officers and they are not nec essarily apprehensive when a police officer approaches them because they would have already have had the positive experience with other officers. TURNQUEST HAILS POLICE SUMMER CAMP T i m C l a r k e / T r i b u n e s t a f f
By MATT MAURA Bahamas Information S ervices T HE education curricul um at Her Majestys Prisons will be expanded to include distance-learning c ourses, Minister of N ational Security the T ommy Turnquest said W ednesday. F urther expansion will a lso take place in the areas of horticulture and agriculture. Mr Turnquest said additional efforts are also b eing made to ensure that certificates of education a warded by the facilitys Correctional Training Institute (CTIe ndorsed by the Bahamas Technical and Vocational I nstitute (BTVI The facility is also e xpected to offer educat ional opportunities to persons on remand so t hat they can spend their time productively and hopefully acquire a skill, o r enhance themselves, while awaiting their case to be heard. Mr Turnquest said these moves are all a part of the G overnments prison r eform initiative which he s aid will ensure that the m ajority of the inmates w ill be able to leave the facility upon their release as productive citizens. The new actions are also being taken to address a number of critical statistics, including one report w hich states that fewer t han 25 per cent of those p ersons admitted to prison possess a high school d iploma. Statistics further show t hat 90 per cent of the persons admitted to prison are male; nine out of 10 of w hom are Bahamian nationals, and two out of e very three of whom are under the age of 35. The Government of the B ahamas has been working assiduously on its p rison reform initiative to e nsure that her Majestys Prison is able to facilitate the men and women who leave the institution in becoming productive m embers of our communit ies, Mr Turnquest said. We firmly believe that i t is easier to bring about c hange by uplifting inmates rather than dehumanising them. Mr Turnquest said the rehabilitation thrust at Her Majestys Prison has been ongoing and wide in s cope over the past few y ears and has encomp assed inmate classification (to ensure that i nmates of similar risks and inclinations are h oused together); proper s entence planning; a wide range of technical/vocational and academic programmes; attitude adjustment programmes; behaviour modification prog rammes; a day release programme, and a faithb ased initiative. H e said more than 100 inmates recently received certificates of participation in a wide array of subjects ranging from basic computer skills to auto b ody repair, tailoring and welding under the umbrell a of the ongoing initiative. The government recognises that there must be several complementary approaches and multiple interventions with which to address crime and crimi nality, Mr Turnquest added. LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 15, 2011, PAGE 7 TWO groups of foreign fishermen were apprehended in c onnection with fisheries violations in Bahamian waters by members of the Royal Bahamas Defence Force on Wednesday morning. While on routine air patrol, the Defence Force aircraft C6-BDF, under the command of Sub-Lieutenant Grere Martin, sighted two foreign fishing vessels which the officers suspected were illegally fishing in the Great Bahama Bank area. The patrol vessel HMBS Nassau, under the command of Lieutenant Commander Michael Saunders, was informed of the sighting and proceeded to the Ragged Island chain. At around 2am, the officers discovered a 60-ft Dominican vessel with a crew of 51 Dominican nationals onboard. They also found an undetermined amount of scale-fish and crawfish onboard. The Dominican vessel Don Emmy and her crew were taken into custody. Then, at 11am, HMBS Nassau spotted another 60-ft Dominican vessel, the Lil Lamb, also in the area of the Great Bahama Bank. The vessel and her crew of 11 Dominican nationals were also in possession of an undetermined amount of scale-fish and crawfish, according to the RBDF. The apprehended vessels were escorted by the Defence Force vessel to the capital, where the foreign fishermen are to be turned over to relevant authorities for further processing. The exercise was a joint effort between the RBDF Airwing Department and the RBDF Squadron Department. Over the Independence holiday weekend, HMBS Nassau also apprehended seven American fishermen in connection with fisheries, customs and immigration violations in Bahami an waters in separate incidents. T WO GROUPS OF FOREIGN FISHERMEN APPREHENDED IN BAHAMIAN WATERS DOMINICAN VESSELS, CREW TAKEN I NTO CUSTODY MINISTER OF NATIONAL SECURITY Tommy T urnquest speaks at p olice headquarters. PRISON CURRICULUM TO INCLUDE DISTANCE LEARNING COURSES THE TWO apprehended Dominican vessels being brought into the Coral Harbour Base Thursday morning. SOME OF THE FISHERY PRODUCTS being taken off the captured Dominican vessel at the Defence Force Base. F URTHER EXPANSION WILL ALSO TAKE PLACE IN HORTICULTURE, AGRICULTURE
are unprofessional and reckless. Mr Rolle said the PLP must look at themselves and t heir motives before pointing fingers at anyone else. We are simply seeking t o empower Bahamians to own land, said Mr Rolle. If thats a statement of the government trying to get votes then I am sure it is equally true that in 2007,w hen the Minister of Immigration in the PLP was in the Mud giving out citizenship, while his leader was in Nassau proroguing the House, that was certainly an attempt to offer citizenshipf or votes hours before the election. Housing Minister Kenneth Russell said he does not understand why the PLP is making such a fuss when the current govern m ent is treating the squatter issue no differently than the PLP did. H e said: In fact, it was the PLP government that began the course of regul arising squatters as far back as the early 1980s, in the Nassau Village subdi vision. Most recently Minister Neville Wisdom followed the same pattern in regularising squatters in the Pride One subdivision. He is actually the minister who established the cost now beingu sed by the ministry for the sale of a lot, which works out to $3.40 per sq ft. Mr Russell said he is prepared to take the criticism which comes from their efforts, even when it comesf rom those who would seek to make cheap political gain by perpetuating lies andh alf truths. He said he knows that in the end, the ministrys efforts will yield f ruit for the people of the Bahamas. Mackey Yard is one of three shanty towns locatedo n Alan Drive, an area that makes up a part of the Garden Hills constituency. LOCAL NEWS PAGE 8, FRIDAY, JULY 15, 2011 THE TRIBUNE By SANCHESKA BROWN H OUSING Minister Kenn eth Russell has categorically denied that his ministry is selling land in Mackey Yard to illegal immigrants or giving it away for votes. At a press conference yest erday, Mr Russell said the M inistry of Housing (MOH is in no way attempting to buy votes by selling land to illegal Haitians squatting in Mackey Yard. H e said: The ministry has n o authority to sell property t o any foreigner, legal or illegal, living in the Bahamas. As such, we have clearly enunciated to all such persons residing on housing land that they need to remove themselves immediately from that land. I also deny assertions that the MOH i s offering land for votes. The MOH has absolutely no influence on the grant ofs tatus to any individual, nor has there been any attempt to influence the grant o f status to any individual by the minister responsible for the award of t hat status. Deputy Prime Minister and Minister of Immigration Brent Symonette has also denied that he has grantedc itizenship to any illegals living in Mackey Yard. In fact, Mr Symonette said, no new requests for citizenship from that area have come across his desk. However, Mr Symonette d id say that his ministry will be providing copies of citizenship papers to those people who may have lost them in the Mackey Yard fire in December 2010. Mr Russell said the ministry has enlisted the assistance of the United Haitian and Bahamian Association of the Bahamas (UHAB illegals who are on the property move.H e said a letter was sent to all persons s till squatting on that land ordering them to move immediately so the government c an start preparing for a properly ordered legal subdivision. Regarding naturalised persons applyi ng for land, Mr Russell said the MOH will treat them no differently from Bahamians. The reality of the situation is, these people have been granted status accord-i ng to the provisions contained in the Constitution of the Bahamas. As the Minister of Housing, I am certainly not empowered to revoke that status or to treat any person awarded such status in a manner as to diminish that persons standing. M r Russell also said that the ministry is not prohibiting persons who did not live in Mackey Yard from purchasing lots in the new subdivision. The minister did admit, however, that the squatters will be given first preference. He said if they cannot afford the lots, they will be offered to someone else. The lots are being sold at $3.40 a square foot with lots starting at $17,000f or 5,000 sq ft. M r Russell said government land and homes have always been sold at subs idised rates to make them more affordable. C OURTNEWS THE unlawful sex trial of Bishop Earl Randy Fraser has been adjourned to July 18, when closing submissions are expected to be heard. Prosecutors have accused Fraser, 53, of abusing his position of trust by having a sexual relationship with a 16-year-old girl he had agreed to counsel. It is alleged that Fraser, pastor of Pilgrim Baptist Temple on St James Road, had a sexual relationship with the girl between July 2005 and February 2006. F raser denies the allegations and remains on $10,000 bail. He is represented by attorney Jiaram Mangra. Deputy Director of Public Prosecutions Franklyn Williams is prosecuting the case, which is being heard before Deputy Chief Magistrate Carolita Bethell. BISHOP FRASER UNLAWFUL SEX TRIAL ADJOURNED We have gained some exceptional numbers, especially within the last three months and we expect to go between 160,000 and 170,000 which is quite achievable, said Mr Bethel. Now that the 2007 register is closed, Mr Bethel said it is expected that the electoral boundaries commission will meet soon to determine the boundary lines, following which any necessary changes would be made to voters cards so that they can be issued to the public. Clearing up confusion on the electoral registration process Mr Bethel made it explicitly known that eligible voters can still register following the close of the 2007 register yesterday, up to when the election is called and election writs are issued. He said all persons who are not yet registered, but who get registered before election writs are issued will be able to vote. Explaining that under Bahamian law there must always be a register in being, normally with a life span of five years Mr Bethel said prepara tions for a register in readiness that would replace the 2007 register commenced on October 4. This register became the new register following the expira tion of the 2007 yesterday. Mr Bethel said: The Bahamas, unlike some other countries in the world has a five year register because we know that the register in being will come to an end after a fixedp eriod of time the parliamentary commissioner is authorised to commence preparation of a register in readiness, at a certain time, prior to the expiry of the register in being. Mr Bethel further stated that this register in readiness will become the register in force on the expiration of the current register. All registration centres throughout New Providence, Grand Bahama and in the Fam ily Islands will remain open to accommodate those wanting to register, said Mr Bethel. According to constituency summary, dated July 14, Blue Hills has the most registered voters in the Bahamas with 3,853 persons currently on the books. Blue Hills is closely followed by Golden Isles with 3,649 per son registered and Sea Breeze with 3,347, Long Island and Ragged Island are noted as having the lowest number of voters registered in the coun try with 914 persons to date. and was extinguished shortly following the fire fighters arrival. Speaking about the fire, D eputy Prime Minister Brent Symonette said limited damage was done to the building as the fire was contained to a back room and was quickly extinguished by fire services. The fire was put out q uickly and we are thankful that it did not spread, he said. T he building was still filled with smoke this morning, said Mr Symonette, but as soon as it is cleared out the headquarters will be back in operation. Mr Symonette added the F NM would like to thank the diligent persons who passed by the headquarters and informed the police of the fire. interview. She also encouraged students to apply for their interviews as soon as possible to improve their chances of being at school on time for the start of their classes. Ms Thibault said Bahamian residents can still apply for a tourist visa but currently the next available visa appointment is not until mid-September, possibly early October. She said, however, the Embassy will take every applicants travel needs into consideration and will be able to accommodate some emergencies by providing expedited appointments. We will be issuing expedited appointments in emergency situations. Those include applicants requiring urgent medical treatment in the US; applicants who must attend the funeral of a close relative; students whose classes start before the next available appointment; exchange visitors whose programme starts before the next available appointment; applicants claiming urgent business travel that could not have been previously planned, and temporary workers whose job starts before the next available appointment. We do not offer expedited appointments for cruise travel, she said. The embassy is encouraging all applicants to apply for a visa well in advance of making their travel plans. Ms Thibault said the best time to make an appointment is around February when things are slow. Applicants meeting the requirements for an expedited visa appointment are encouraged to submit a request to email@example.com. Bahamian women who are married should have voted for that issue. It is creating havoc, said Mr Symonette. Any person born in the Bahamas has a constitutional entitlement to apply for citizenship between the ages of 18 and 19, regardless of their parental heritage. Historically, the process for eligible applicants has been a nightmarish, taking over 20 years in some instances. There are a number of persons, born in the Bahamas, attended our school system, lived here all their lives, who feel disfranchised by the fact they have not been regularised. I think that is a fair comment if you go out in the public, said Mr Symonette. Now there are a lot of Bahamians who have a contrary view. But we have these people who have been in the country, were born here, lived here all their lives, dont know any other country but the Bahamas. There are a large number of those. We have been pro cessing permanent residency and citizenship on a regular basis. We have been working hard at it to draw down the numbers, he said. As for Bahamian women, based on the current law, their children have no right to citizenship once they are born to a non-Bahamian man, or outside of the country. In 2002, when Bahamians had an opportunity to amend the con stitution to empower women, they voted against the amendment. We have to have a serious discussion, not in the political heat coming up to elections to score brownie points. That is what makes me slightly frustrated and annoyed. This is a serious issue and we have to look at both sides. Spouses of Bahamians: We cannot expect, my three children, for instance, to come back to the Bahamas if they cannot bring their spouses to work in the country. We will continue the brain drain. We have to face that head on, said Mr Symonette. As a result of the departments efforts, Mr Symonette said the wait time for applications has been reduced significantly. Just yesterday morning, Mr Symonette said he signed three citi zenship applications that were filed respectively in 2002, 2007 and 2009. Those applications are headed for Cabinet for approval. Over the last four weeks there have been three swearing in ceremonies for about 70 people. While some of those applicants waited up to 20 years to get their citizenship sorted out, many of them were beneficiaries of the improved system, said Mr Symonette Most of the applicants in the most recent cohort were under 30, he said. Assuming their applications were filed when they were 18, he said that means an approximate time period of 12 years. Mr Symonette said those figures are not indicative of a well oiled machinery, which would ideally process applications in a matter of 6-months to a year, but he said they represent an improvement, given the tremendous backlog. In the case of spousal permits, Mr Symonette said applicants can now get processed almost immediately after their five year permit is up. A non-Bahamian spouse is issued a five year permit in the first instance, after which the spouse is eligible to apply for permanent residency with a right to work. Mr Symonette admitted there are some applications that fall through the cracks, and would disagree with his assessment. FROM page one FROM page one FNM DEPUT Y ON CITIZENSHIP 60,000 MORE VOTERS FROM page one STUDENTS TO GET USVISAPRIORITY ARSON RULED OUT IN FNM FIRE FROM page one FROM page one PLP LYING OVER MACKEY YARD HOUSINGMINISTER: Kenneth Russell MINISTER DENIES MACKEY YARD LAND BEING SOLD TO ILLEGAL IMMIGRANTS
By INIGO NAUGHTY ZENICAZELAYA Invariably, we all have to w ait in line at some point. O ur ancestors had to, and unless you have made your life completely digital, chances are so do you. But here is my question: Is there an official rulebook for toei ng the line? T here are rules in baseball, basketball, football, soccer, rugby and lacrosse. Hey,even tiddlywinks and lawn darts have rules. (Rule numb er one in lawn darts: Do not h it your opponent in the h ead with the lawn dart!) Yet how is it that the most brutal, contentious and potentially hazardous of all human contact sportsLine Toeingh as escaped the eyes of the e ver present watchdogs? I admit I had never given m uch thought to formal line toeing etiquette until an early morning incident at The R oad Traffic Department served as my wake up call. My brother-in-law was int own and needed to renew h is drivers license, and as I had not renewed mine since the early nineties (I jest, a nother birthday was looming) I decided to go with him and do the same. W e made the post dawn mission to Road Traffic hoping to at least make the top 50 when the doors opened at 8.30am. To my surprise and delight, when we arrived t here were only a few pers ons waiting outside ahead of us, with 25 minutes to go until opening time. By my c alculations, we were golden. A nod of the head to the othersall menestablished o ur places (sixth and seventh r espectively) and meant we would not be spending the e ntire day in a line. Unlocked A t exactly 8.36am, five seconds before the entrance doors were finally unlocked, two young women who had just arrived strolled right past us with one casually declar-i ng, Ladies first. H uh? What happened to First come, first served? I was too dumbfounded to s peak. Apparently so were all the other men although one did suck his teeth. My brother in-law eventually mumbled, Real ladies would join the line, but both women ignored him. They r aced in ahead of us only to find the customer service window they had sought out so coldly was still closed. Embarrassed, the pair looked back at us, but by this time an official line had formed, and I confess I was somewhat amused watching them reluctantly join the end of it. U nfortunately, Road Traff ic was just the beginning. After that episode, everywhere I went that involved some kind of line I noticed how many individuals (ands ometimes whole families in collusion) were finding subtleand not so subtleways to avoid toeing it. I have personally witnessed these people in action thousands of times now, in awe of theire ver-increasing creativity. B eing the comedian that I a m, I could not help classifying these line predators. A t Bamboo Shack, I became aware of the existence of Cutters. With personalities exclusively comprised of that rare mixture ofc ourage and ignorance, Cutters believe that reaching out and grabbing hold of the security bars on the order window puts them technically ahead of you in line, even i f you were there first. A t the bank, I was introduced to the Jumpers. Distant cousins to the Cutters,J umpers believe that they are line royalty, and their place in line is eternal. They leave t he line for some unknown r eason only to return 15 minutes later with the remnants of a Dollar Breakfast and a r olled-up newspaper, expect ing their spot has been saved. A trip to the grocery store l ed to an encounter with a Whiner. U sually found toward the back of long lines, Whiners spend the entire time com plaining about how slow the l ine is moving/ few stations are open/many persons are in front of them and on and on. A fter watching no less than two persons abandon their f ull trolleys in the middle of t he checkout line, I realised that Whiners, though not as bold as Cutters, employ av ery sophisticated brand of psychology. Their ultimate goal is always getting to the cashier so they will talk (or annoy) you out of their way by any means necessary! It is like some weird Jedi mind t rick. Still, it took an outing to BEC to bring me face to facew ith the most stealthy and socially adept of all line predators; the Chatter. These cagey veterans have been t hrough many line wars, and rely on a masterful three pronged attack: First, they greet you by smiling with m ore teeth than a comb. ( This is the Distraction.) Next, they slip in line close to you (likely bringing undue scrutiny from the Whiners standing behind you) and hity ou with a verbal onslaught of Hey/ How ya doin/ How ya mummy/ How ya job? (This is the Confusion, intended to elicit a false sense of familiarity.) Finally, when it is your turn to be served,t he Chatter abruptly ceases a ll banter, produces a previo usly well-hidden bill and morphs into the Cutter b efore your very eyes. (This is the Takedown. You never stood a chance.) Rules I admit I too have been the v ictim of line predators ( mostly Chatters) because I never used to pay attentiont o these things. Plus, in the absence of actual rules of the game who decides what is f air and what is foul? Here are my suggestions for the official line toeingr ulebook: Elderly persons must have a cane, wheelchair, oxy-g en tank or national insura nce card in single digits in order to bypass the line. Pregnant women must be i n labour or at least showing in order to bypass the line (having a stubborn pot bel-l y does not count). Handicapped persons must actually be handicapped in order to bypass the line( being loosely referred to as crazy does not count). Chatters are legally r equired to carry breath mints or chewing gum at all times. No exceptions. Jumpers must automati c ally pay a departure tax when leaving the line (dollar amount to be negotiated witht he person standing immediately behind the Jumper). Whiners must limit their r ants to 30 seconds or less; and only one whine per hour while on any line is allowed. Cutters must cease and d esist, lest they get cut! Now that a few guidelines have been established, we s hould proceed to our lines in an orderly manner. The rules are clear, the s coreboard has been reset and violators will be ejected. I am serious people, and nowadays I travel armed with lawn darts. T HE TRIBUNE FRIDAY, JULY 15, 2011, PAGE 9 COMICS VIEW I NIGO NAUGHTY ZENICAZELAYA Crossing the line
THE CENTRAL ELEUTHERA HIGH SCHOOL BAND LOCAL NEWS PAGE 12, FRIDAY, JULY 15, 2011 THE TRIBUNE Subject to credit approval. *Trademark of The Bank of Nova Scotia, used under licence. Rates As Low As 7.25%*Ready to buy your rst home or pay off your current one faster? W eve got the expertise, exible options, and interactive tools t o tailor a plan just for you. Find out how you can: Lets figure it out. Talk to us today.Whats the best home ownership plan? One built just for you.Check out our online mortgage calculators. bahamas.scotiabank.com/gogure THE Central Eleuthera High School Band recently spent five days in New P rovidence where they performed at the annual general meeting of the Bahamas Union of Teachers and at the Church of God 57th Annual Youth Convention. Students also had an opportunity to interact with the police, Defence Force a nd prison bands. T he students visited Government House where they serenaded Governor-Genera l Sir Arthur Foulkes with a few songs. A ccompanying the students were band d irector Andrew Lewis and parents Sandi Cooper and Sonia Lewis. D R U M M E R S F R O M T H E C E N T R A L E L E U T H E R A H I G H S C H O O L B A N D P L A Y I N G W I T H T H E P O L I C E D E F E N C E F O R C E A N D P R I S O N B A N D S S T U D E N T S P E R F O R M I N G F O R T H E C O M B I N E D L A W E N F O R C E M E N T A G E N C I E S B A N D D U R I N G T H E I R P R A C T I C E F O R T H E I N D E P E N D E N C E C E L E B R A T I O N S P O L I C E C O N S T A B L E M A J O R S H A R I N G S O M E H E L P F U L T I P S W I T H S T U D E N T S M E M B E R S O F T H E C E N T R A L E L E U T H E R A H I G H S C H O O L B A N D A L O N G W I T H L E A D I N G S E A M A N R O L L E O F T H E D E F E N C E F O R C E T H E C E N T R A L E L E U T H E R A H I G H S C H O O L B A N D A N D C H A P E R O N E S A T T H E H M B S F L A M I N G O M E M O R I A L P A R K M O N U M E N T SAN JUAN, Puerto Rico Associated Press POLICE are increasing the number of officers at popular tourist areas in the capital of San Juan to reassure visitors the area remains safe despite a rising homicide rate in much of the island. At least 50 new officers will join a 200-member unit covering an area from the island's international airport to the imposing 16th-centu ry fort in Old San Juan, said Emilio Diaz Colon, the island's new police chief. Six detectives also will be assigned exclusively to that area, he said. The officers will fan out on horseback, all-terrainvehicles, bicycles and speedboats, Diaz said. "Puerto Rico is known worldwide for being one of the most important tourist destinations in the Caribbean," he said. "(Tourists spokespeople." The action is meant to reassure visitors who might be alarmed by reports of a rising homicide rate: 607 killings have been reported so far this year, 101 more compared to the same period last year. In 2010, the island of 4 million people recorded its second-worst year for killings with more than 955 deaths. Tourists Most of the killings are drug related and tourists are rarely targeted. However, in mid-April, a 33-year-old visitor from New Jersey was killed in the parking lot of the swanky La Concha resort in San Juan in a case that police say involved drugs and prosti tutes. Two men have been arrested. Beach-goers along the island's north shore also can expect to see less garbage and more lifeguards, offi cials said. Nearly 40 inmates will be assigned to clean up at least three beaches every weekend, or more if needed, said Corrections Secretary Car los Molina. The island's Tourism Company also will dispatch crews to the most popular beaches to help clean up trash and hand out garbage bags, executive director Mario Gonzalez said. Officials say they hope the changes will help boost the island's $3.5 billion tourism industry. Nearly 5 million people visit Puerto Rico a year. POLICE TO INCREASE PRESENCE AT PUERTO RICO BEACHES I NTERNA TIONALNEWS 607 killings on island of four million peopler epor ted so far this year
$4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission f rom the daily report.$ $5.25 $5.16 $5.22 T HETRIBUNE SECTIONB firstname.lastname@example.orgFRIDAY, JULY 15, 2011 Blast Off!He works hard for his grades. You work hard for his dreams. Dont let the unexpected interrupt your plans. Secure the future today with Family Guardian. And just watch where tomorrow takes him! LIFE INSURANCE & ANNUITIES / are you prepared? A member of the FamGuard Group of Companies CONTACT ONE OF OUR SALES REPRESENTATIVES TODAY Family Guardian Financial Centre, East Bay & Church Streets +242 396-1300 I www.familyguardian.com A MBESTA-ExcellentFinancialStrengthRating By NEIL HARTNELL Tribune Business Editor The upcoming $8 million A rawak Cay port initial p ublic offering (IPO unique flavour, its chos en placement agent has t old Tri b une Business, as it represents the first time Bahamians have a c hance to participate from the g round u p in an infrastructure p roject operated as a public-private partnership. Kenwood Kerr, chief e xecutive of Providence Advisors, which together with CFAL won the bid to be the placementa gent/financial advisor to the Port IPO that is likely to take place this fall, said the facility unlike similari nfrastructure projects would be owned and run entirely by Bahamians. H e added that it was healthy for the Bahami an investment banking market for IPO work to be spread out, rather than got o the same one or two firms all the time, noting that per cent of thes tocks currently listed on BISX had been brought to market by either himself or CFALs principals. As a group, speaking on b ehalf of Tony [Ferguson, CFALs principal] and them if I could, were g rateful for the opportunity to provide our services, our expertise, our experience in this space this market and bring this historic transaction to the marketplace, Mr Kerr told Tribune Business. We think it parallels what has happened at the airport to a certain extent, but all Bahamians can participate in this. This [the Arawak Cay port] is going to allow Bahamians to par ticipate in an investment of this nature from the ground up. I think its probably the first of its kind that Bahamians can really par ticipate in. While there were lots of things that are very posi tive about the Arawak Cay Port and upcoming IPO, Mr Kerr declined to go into detail, explaining that the specifics would allbe contained in the yet-tobe-released offering memorandum. However, he added that the IPO would for the first time enable Bahamian retail and institutional investors to participate inan infrastructure investment 100 per cent owned and operated by Bahamians. Other unique charac teristics identified by the Providence Advisors chief executive were that the public would be participating in such an investment from the get-go. The Port was being also being operated and owned by a private-public sector partnerKENKERR $8 MILLION PORT IPOS UNIQUE FLAVOUR Investors to participate f rom ground up in fully Bahamian-owned, private-public i nfrastructure partnership SEE page 9B B y NEIL HARTNELL Tribune Business Editor Transfer Solutions Providers (TSP go card and payment pro cessing system provider, hase xtended its $5.438 million private placement until months end to give key investors time to reach ad ecision, its president yes terday saying the offering had attracted global interest from regions such as Asia and the Middle East. Dr Jonathan Rodgers, the well-known eye doctor, confirmed to Tribune Business that the TSP private placement had been extended until the end of July, adding that the Omni Financial Services money transfer business which up until now has been run as a separate unit to Mango under the TSP banner would be integrated into one with the card/payment technology provider. We have several high net worth individuals, and also some not so high net worth individuals, as well as insti tutions close to making some decisions, Dr Rodgers said, explaining the rationale for extending the private placement. He acknowledged that many key decision-makers were away due to the summer holidays, adding that the TSP offering should appeal to both wealthy indi viduals and institutions, such as pension funds and banks. There were also many Bahamian investor groups who, once one member decided to invest, all came on board. However, if Bahamian investor interest proved insufficient to get the pri vate placement fully subscribed, the TSP president said the company would more than welcome their foreign counterparts. We have groups world wide wanting to invest, Dr Rodgers told Tribune Busi ness. We prefer local investors, as were a Mango provider extends $5.4m private offering Sa ys inter est coming from Asia and Middle East* Omni F inancial and Mango to merge into one* Belie ves technology can be third arm of economy SEE page 9B B y NEIL HARTNELL Tribune Business Editor T he Bahamas Chamber of Commerce and Employers Confederation (BCCEC chairman last night described the seem-i ng lack of consultation over the reformed Customs Management Act as very concerning, with Tribune Busin ess confirming that the consultative committee supposed to examine the legi slation prior to its going to Parliament n ever met. B oth the former BCCEC chairman, K haalis Rolle, and his current Grand Bahama Chamber of Commerce counterpart, K. P. Turnquest, told this newspaper that despite being invited to sit on this committee, they never attended Customs Act consultation absence very concerning Consultative committee supposed to be established to review key 350-page legislation never met SEE page 4B By NEIL HARTNELL Tribune Business Editor The Bahamas International S ecurities Exchange (BISX m ade a profit for this first t ime in its 10-year history during 2010, its chief executive confirmed yesterday, adding t hat he was continuing to pur sue recognition of the exchange by the US Securi-t ies & Exchange Commission ( SEC). Keith Davies described such recognition as one of t he major components of the i nternational strategy we have, adding that a telephone conference betweenB ISX and the SEC to determine where the process stood w as scheduled for yesterday. H e described achieving forBISX ends decade long profit wait KEITHDAVIES Gets into black for first time in exchanges history Pursuing recognition by SEC as major component of international strategy SEE page 4B By NEIL HARTNELL Tribune Business Editor R obin Hoods principal last night told Tribune Business he had found investors to buy-out at least some of the equity stake held by his USb ased partner, Suresh Khilnani, as he attempts to s et the retailer back on track f ollowing the end of City Markets efforts to acquire his f ood business. Sandy Schaefer, though, d enied that the investor in q uestion was Hubert Pinder. Sources familiar with developments had told Tribune Business that Mr Pinder, whoh ad previously been intereste d in investing in Robin Hood b efore backing away late in the day, had reignited his interest, and a team of a ccountants had been scouri ng the retailers books as part of a due diligence exercise onh is behalf. We were speaking with people, and doing a deal, MrS chaefer said, when contacted b riefly by this newspaper last night. But of Mr Pinders interest, he added: That name is not familiar to me. S till, he told Tribune Business that moves were under way to at least partly buy-out Miami-based Mr Khilnanis s take in the business, adding: Weve entered into an agree ment to divest my partners of s ome shares. Weve already signed an agreement. Tribune Business understands that Mr Khilnani has at least $9 million invested in R obin Hood, through a combination of equity and loans. It is thought he has been seeking an exit route from his partnership with Mr Schaefer f or some months, and is eager to recoup as much of his investment as possible. He declined to go into detail, but said Robin Hood was building the business back up again after the dis tractions of the potential City M arkets deal that fell through. DEAL AFOOT TO BUY-OUT ROBIN HOOD PARTNER
BUSINESS PAGE 2B, FRIDAY, JULY 15, 2011 THE TRIBUNE By SIMON COOPER Res Socius I t is common cause that buyers of businesses, and their sellers, usually start light years away from each other in terms of the value a business for sale represents, and that they generally need a business brokerto help narrow the gap to manageable proportions. This is because every business is different to a greater or lesser extent, meaning that value is in the eye of the beholder, not readily sought in market trends. It is theoretically possible to value a business in several different ways. One could establ ish the cost of setting it up afresh, calculate the depreciated value of the assets, or put a value to goodwill. Unfortunately, its not a simple as that. What value does one put on a downtown street-corner position, or a secured supply chain? The bigger question, though, is what is likely to happen in the future. The difficulty with evaluating goodwill is that thisis unlikely to be the same in the future as it was in the past. This means that turnover figuresm ust be interpreted, not blindly imported lock, stock and barr el. Just about every business s eller I have met has made a great play of the fact that their f irm could perform a whole lot b etter. I find this akin to a usedcar salesman saying that a vehicle could go a whole lot faster with a new engine, and then pricing the vehicle as if it already had one. But that is not to say business potential may not have intrinsic value. We just need to separate the sheep f rom the goats. Every business has the potential to improve. It may be neglected because the current owner is ineffective. It may be neglected because the owner h as grown old, ill, bored or simply tired. In this case, potential has no real value because it lies only in the eye of the seller, who ought not to be paid for what they did not do. Circumstantial potential is a completely different ball game, a nd I believe it can hold real value. Let me cite a few examp les to illustrate the point. A sleepy town can develop exponentially following the development of a new port nearby.A construction company can strike gold when oil is discovered across the road. Equally, though, a store can nosedive when a council closes the road outside for lengthy repairs, as has happened recently somewhere on our islands. This kind of potential is based on circumstances beyond the control of an individual businessperson, yet it could have hugely positive impacts when it materialises. If a seller already knows of it, I believe a value might be attached, and that there could be advantages to selling it on untapped, too. The cards are in a buyers hands, though. Who knows of circumstances of which the seller is unaware? This begs two questions that should be in every potential business buyers mind. When markets turn, as they inevitably will, where will the uptick begin? And is it a good idea to invest in an existing business that is already well-positioned, o r try to start a new one on the fly, when this happens? NB: Res Socius was founded by Simon Cooper in 2009, and is a business brokerage authorised by the Bahamas I nvestment Authority. He has extensive private and public SME experience, and was formerly chief executive of a publicly traded investment company. He was awarded an MBA with distinction by Liverpool University in 2005. Contact him on 636-8831 or write to s email@example.com. Is there value in business potential? G rand Bahama Power Company yesterday said it was making progress in delivering disconnection warnings to customers, but urged them to make s ure the utility had their correct cont act information. Katherine Demeritte, Grand B ahama Power Companys director o f customer service, said all residential a nd commercial electricity customers were now being sent a disconnectionw arning prior to being cut-off for overd ue payments. This system is working, but we are still asking our customers to verify t hat we have their current and correct information so they are able to benefit from these added features,s aid Ms Demeritte. To further improve customer comm unications, Grand Bahama Power Company last year launched an Integrated Voice Response System (IVR w hich enables customers to access billing information over the telephone. The best feature is that our customers can access their personal account information from the comf ort of their home. They can obtain their account i nformation, have billing queries addressed by an interactive automated system, and receive real time information in the event of an outage in their area, Ms Demeritte said. Todays customer has many more p ayment options than they previously had. All our customers need is their GB Power account number located on the t op left hand corner of the bill and they can pay on line via online banking, or they can make payments at a ny local branch of Commonwealth Bank, Scotiabank, and Bank of the B ahamas or CIBC First Caribbean. Grand Bahama Power Companys customers can also use cheque drop-o ff boxes at its office, or the drive through window at its downtown F reeport office. S IMON COOPER T he best feature is that our cust omers can access their personal account infor-m ation from the comfort of their home. Katherine Demeritte
By NATARIO McKENZIE Business Reporter DESPITE increased compliance costs associated with the US Foreign Account TaxC ompliance Act (FATCA leading accountant yesterday said he does not believe the Bahamas will be placed at a competitive disadvantagein dealing with US clients. do not believe its going to put us at a competitive disadvantage, because everybody is going to have to do the same thing. Its going to increase the cost of compliance, no doubt, but that increased cost is going to bea cross the board. The only saving grace is that pretty much any where they [US clients] go they are going to f ace this. Any reasonable j urisdiction they go to, they are going to face the same r equirement to provide inform ation, Lawrence Lewis, a Deloitte & Touche (Bahamas bune Business. F ATCA is an important development in US efforts to c ombat tax evasion by persons holding investments in offshore accounts. Under FATCA, US taxpayers holding financial assets outside the U S must report those assets to the Internal Revenue Service (IRS F ATCA will also require foreign financial institutions to report directly to the IRS c ertain information about f inancial accounts held by US t axpayers, or by foreign entities in which US taxpayers h old a substantial ownership interest. Mr Lewis said that while in t he past the Bahamas has generally shied away from US clients, it could now be in ap osition to go after and gain them. Those who would have wanted to shy away from US clients have already done so. I dont think there are organisations who have US clientsw ho are going to say we dont want to deal with it. I think if anything we will probably gain some US clients and, if were smart about it, this is our opportunity to go after them, Mr Lewis said. Mr Lewis agreed with sentiments expressed by attorney Ryan Pinder that the Bahamian financial services industry should lobby to influence the FATCA implementation process, noting that the IRSh as been responsive to some recommendations made. The IRS and Treasury Department over the last year o r so put out their first set of g uidance, and in April of this year they put out a second set o f guidance, Mr Lewis said. After each round of guidance they put out, they have requested comments, and a number of organisations have p ut in comment letters. The challenge is that the Bahamas itself, either through the Government or through one of the industry associations or an entity within the Bahamas, has not sent something in thata dvances our case so that its going back to the IRS with comments on what things can work, what things cannot work, or how we think it can be structured better to accomplish the same things but be a bit more efficient. The IRS is responsive to some recommendations, but not to ones they think will dilute the effect of it. Mr Pinder said: We as a jurisdiction seem like we aren ot motivated to go out and lobby the international arena on issues that affect us as a jurisdiction. This [FATCA} w ill affect the industry more s o than almost anything on a compliance point of view b ecause it is so broad; it t ouches a number of components. We are in a comment period where we can actually i nfluence the rules for the betterment of our industry. I believe the private sector, government and regulators need to come together to analyse this carefully, and put our position forward to the IRS. That is how you have an influence on the rules to affect your jurisdiction in the best way they can, because these are very draconian obligations on our financial institutions. BUSINESS T HE TRIBUNE FRIDAY, JULY 15, 2011, PAGE 3B No competitive disadvantage for Bahamas from US FATCA
e ign exchange recognition from the SEC as opening the doors to many others, as it would enable additional types of transaction to flow through BISX. Other potential opportunities opened up by SEC recogn ition, Mr Davies explained, were alternative listings on BISX, and the use of the Bahamian exchange as a potential vehicle for entry i nto the US. This is a required step the exchange has to go through, M r Davies explained. This i s still in train, in progress. Its one of the main things were t rying to conclude. The SEC w ill be the ones recognising the exchange, and we have a call into them today to see w here they are. Any time you do a transaction from the Bahamas, being designated an offshore securities market under the rules of the US enables you tod o certain types of transact ion. C ertain transactions using B ISX might be exempt from r egistration once the e xchange gained this recognition, Mr Davies added, with securities offerings initiated from the Bahamas with a U S nexus able to go back onshore in the States once the timing was right. Meanwhile, the BISX chief e xecutive confirmed that the exchange recorded its first y ear-end in the black for the 12 months to December 31, 2010. We made it last year, he a dded. The first time its been done based on the exchanges operations. Its been a long road, and weve got to keep it going. Every year has to be better, and its g ot to be better this year. I allowed myself to be happy f or all of five minutes, and then its on to the next stage. Every year since Ive been in the chair weve made progress small, positive i ncremental steps. The level of listings and activity weves een is indicative of the times w ere in, difficult times, but I see elements of progress, particularly for projects people a re talking to us about. Overall, I am pleased with t he overall direction, and sati sfied we are doing what is necessary to keep us moving forward. But were not complacent, and are not satisfied with where it is. M r Davies said BISX was s till working on bringing the share registries for all its listed companies on to one technology and software platform a t its Bahamas Central Securities Depository (BCSD r educing this from the existing three platforms. The share registers have been copied and migrated from one of the systems and are being tested, he added. The other systems are going t o take a little longer because the process is different. Were s till bringing that information over. Were still in the process of collating it, as we have to get it done in a certain way. Its quite painstaking. The r egistries need to be cleaned up a lot in terms of consistency, continuity and depth. W eve got to roll up our sleeves. Its tedious, hard work. Its the work no ones ees, no one cares about, but we have to get it done. A part from the $8 million Arawak Cay port initial public offering (IPO l ikely sale of the first 9 per c ent tranche of the Govern ments remaining BahamasT elecommunications Company (BTC er listing activity in the p ipeline is Bahamas Firsts stated intention to come on to BISX. D escribing the investment funds sector as very quiet, Mr Davies added: Thats b een extremely quiet. The only thing were doing is the T IGRS 5, because putting that on the stage is part of the r equirements. BUSINESS PAGE 4B, FRIDAY, JULY 15, 2011 THE TRIBUNE 5 2wk-Hi52wk-LowSecurit y P revious CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .190.95AML Foods Limited1.181.180.000.1550.0807.66.78% 10.639.05Bahamas Property Fund10.6310.630.00-0.6400.200-16.6 1.88% 7.504.40Bank of Bahamas6.946.940.000.2300.10030.21.44% 0.530.17Benchmark0.180.180.00-0.0480.000N/M0.00% 2 .842.70Bahamas Waste2.702.700.000.0300.09090.03.33% 1.961.77Fidelity Bank1.771.770.000.0970.04018.22.26% 11.938.44Cable Bahamas8.488.480.000.2450.31034.63.66% 2.802.35Colina Holdings2.502.500.000.4380.0405.71.60% 8.508.33Commonwealth Brewery8.408.400.000.7400.00011.40.00% 7.006.00Commonwealth Bank (S1)6.886.880.000.4960.26013.93.78% 2.191.90Consolidated Water BDRs1.871.82-0.050.1110.04516.42.47% 2.541.31Doctor's Hospital1.381.380.000.0740.11018.67.97% 5.994.75Famguard5.405.400.000.4980.24010.84.44% 8.805.40Finco5.405.400.000.7570.0007.10.00% 9.858.25FirstCaribbean Bank8.608.600.000.4940.35017.44.07% 6.004.58Focol (S)5.505.500.000.4350.16012.62.91% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.305.50ICD Utilities7.307.300.00-0.1220.240-59.8 3.29% 10.809.80J. S. Johnson9.829.820.000.8800.64011.26.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029TUESDAY, 12 JULY 2011BISX ALL SHARE INDEX: CLOSE 1,409.96 | CHG -0.05 | %CHG 0.00 | YTD -89.55 | YTD % -5.97BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 7% RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%B ISX LISTED & TRADED SECURITIES AS OF:7% Interest 52wk-Hi52wk-LowSymbolBid $ A sk $Last PriceDaily Vol.EPS $Div $P/EYield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.650.750.400.0290.00024.130.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.55731.4674CFAL Bond Fund1.55732.04%6.13%1.535365 3.01852.9020CFAL MSI Preferred Fund3.01852.41%4.01%2.952663 1.59761.5289CFAL Money Market Fund1.59761.50%4.50%1.580804 3.20252.5730Royal Fidelity Bahamas G & I Fund2.5730-5.41%-9.79% 13.680613.0484Royal Fidelity Prime Income Fund13.68062.42%2.01% 116.5808103.9837CFAL Global Bond Fund116.58080.71%8.38%115.762221 114.1289101.7254CFAL Global Equity Fund114.12892.39%7.89%111.469744 1.16081.0000FG Financial Preferred Income Fund1.16551.66%5.19% 1.12141.0000FG Financial Growth Fund1.12640.71%6.11% 1.16201.0000FG Financial Diversified Fund1.16681.54%5.59% 9.99529.5078Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.94330.98%4.58% 11.217310.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 211.19701.31%11.59% 10.42889.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.15251.27%8.82% 8.45104.8105Royal Fidelity Int'l Fund Equities Sub Fund8.65073.01%18.38% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Jun-11 30-Apr-11 114.368369 106.552835 31-Mar-11 30-Apr-11 NAV 6MTH 1.512246 2.907492 1.561030TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Apr-11 31-Mar-11 30-Apr-11 29-Apr-11 31-May-11MARKET TERMS30-Apr-11 31-Mar-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. (Over-The-Counter Securities)30-Jun-11BISX Listed Mutual FundsNAV Date 31-May-11 30-Apr-11 526(/,1(-$&2%RI 3 RI6$1',/$1'9,//$*(1$66$8 % $+$0$6 9,1&(177+20$6 68//,9RI3RI1257+(/(87+(5$ %$+$0$6 -2+1621%(51$',1RI/(:,6 < *5$1'%$+$0$%$+$0$6 Customs Act consultation absence very concerning n or were invited to attend any meetings. Fred Smith QC, the Callenders & Co attorney and partner, confirmed likewise. The fear here is that no one f rom the private sector, and p ossibly no one outside of the Government, Customs and their consultants, has seen the legislation intended, at least partly, to fulfill the Bahamas obligations under tradinga rrangements such as the W orld Trade Organisation (WTO Partnership Agreement (EPA it. G iven that almost every resident and business in the B ahamas has to interact with C ustoms, the potential for p roblems and confusion to o ccur when the legislation is i mplemented seems high, give n that the Act overhauls the framework for all dealings b etween the Governments m ain revenue collection agency and the private sect or. Ultimately, the major impact is likely to be felt in t he Governments tax revenues. Winston Rolle, the B CCECs chairman, told Trib une Business yesterday that h e had not personally seen a copy of the new Customs Management Act. It was a period when Khaalis [Rolle, his predeces-s or] was part of a consultative committee that was supposed to be dealing with the whole Customs issue, but I cant recall any record of them meeting in recent t imes, Winston Rolle said. K haalis Rolle previously confirmed to Tribune Busi ness that the consultative c ommittee had never met, and when told by this newspaper that other invited par t icipants were saying similar, the BCCEC chairman replied: Its obviously very concerning, because we would have t hought that legislation of such significance would have gone through wide consultation prior to being submitted to Parliament. Customs duty represents the bulk of the entire tax s tructure, so any moves to revamp that I thought would h ave got as wide a consultation as possible before makinga decision. People dont understand the impact of this until its time to deal with Customs and they find things have c hanged, so its very worrisome. T he Customs Management Bill, let alone the Act, has yet to be posted on the Governments website or Internet g enerally. Tabled While copies have been tabled in the House of Assembly, when a Tribune reporter tried to obtain one, they were told it was a 350p age document and would be t oo much of strain on photoc opying resources. Given that most persons appear to struggle with 20p age legislation, yet alone Bills of 350 pages, the concern is that much of the devil is in the detail with the Cust oms Management Act, and that some provisions when enacted might cause a nasty s urprise and throw the system i nto chaos. M r Smith, the Callenders & Co partner, told Tribune B usiness that despite being invited to participate on the consultative committee, and accepting, he had not been contacted again. I was invited to be part of the committee and, having a ccepted, heard nothing fur t her from them, Mr Smith a dded. There have been no meetings, and I have not been required to give any input into the procedures, the protocols of this Customs Management Act. Mr Turnquest, the Grand Bahama Chamber chief, hada similar experience. Adding that he, also, had not seen the revised Act, he added: I know they were supposed toh ave me on some committee, but as far as I am aware, they have not met. Describing the seeming lack of consultation as unfortunate, Mr Turnquest said: Im surprised they would have gone through with the Act without allowing us to h ave a look at it. Tribune Business has seen a copy of the letter sent out to persons invited to participate on the consultative committ ee. Customs was seeking representation from large i mporters, brokers, shipping and airlines. T he letter, sent by Customs s uperintendent Gregory J ones, said: The Bahamas Customs is undergoing a modernisation effort. As part of this initiative, we are establishing a Customs Consultative Committee. The purpose of the Committee is to discuss proposed new policies and procedures, and to obtain our partners input into the development of these p olicies. It is proposed that the Committee be comprised of representatives from the C hamber of Commerce, Immigration, a licensed Cus t oms broker, a major importer, shipping lines and airlines. FROM page 1B BISX ends decade long profit wait FROM page 1B
BUSINESS T HE TRIBUNE FRIDAY, JULY 15, 2011, PAGE 9B ship, another feature not seen before in the Bahamian capital markets. Certainly it has a comp letely Bahamian flavour, t o the extent that when you look at the airport, thats sign ificant, but its being run and managed by a foreign company, Mr Kerr said. The Port is of equal impor-t ance, but its run and o wned entirely by Bahamians, so thats a unique flavour. People also get to participate from the ground u p. Concerns Concerns have been expressed by some competitors recently that all the capi tal markets work, from an I PO and private placement a dvisory perspective, s eemed to be going to one company, namely RoyalFidelity. Asked whether the Arawak Cay Port IPOa ward would benefit the w ider Bahamian investment banking market, in terms of spreading the work around, Mr Kerr told Tribune Busi n ess: I think its good; its h ealthy for the market. Theres no monopoly on this type of expertise, cons idering we as a collective entity, ourselves and CFAL, would have been market leaders in that space for quite a number of years, having launched more than 7 5 per cent of the issues that a re publicly listed on BISX. Its just healthy for the market, and for the work to have even distribution. You dont want to have one per-s on monopolising the work, because that gives the appearance of one entityh aving all the expertise. Thats not correct. We want to take advantage of a ll the skill sets in the mark et, rather than be oned imensional. Were grateful for the opportunity. We have the expertise, and its e xciting. Mike Maura, Arawak Cay Port Development Compa ny's chief executive, told Tri b une Business last month that the IPO target date was October 2011, although this would be left to Providence Advisors/CFAL to deter mine. "It's still somewhat vague. It might take place on Sep tember 30 or October 30. T hey are more in charge of that," Mr Maura said. W hen the IPO occurs, both the Government and the group of private sector investors who jointly make up the Arawak Cay Port Development Company will each sell 20 per cent of theire quity holdings $4 million each for a total of $8 million. T his will ultimately leave t he Government and 19 private sector stakeholders as equal shareholders of 80 per c ent of APD, holding 40 per cent each. The public fea t uring Bahamian retail and institutional investors, will take ownership of ther emaining 20 per cent, in line with what Prime Minist er Hubert Ingraham has described as a commitment b y the Government to broaden wealth creation,o wnership and economic b enefits. $8m Port IPOs unique flavour FROM page 1B Bahamian company. There are a lot of people in Canada, the States, Asia and some of the Middle East countries expressing an interest, so if things do not pan out here, thats fine. Its a global world now, and this is a global product. Its a global market. Explaining that TSP had the people, the processes and the technology to execute on its vision of providing electronic pay ment services to the unbanked, both in the Bahamas and abroad, Dr Rodgers said that like Google and Facebook, it needed capital to realise its vision and take it to the next level. Expensive Technology is expensive, and we have the opportunity to be tremendously prof itable in two years based on the technology we have now, he told this newspaper. It [Mango] has the potential to earn revenues beyond the borders of the Bahamas. If I were in America right now, this would be a snap. People would be buying it up like crazy. What we have in technology and software right now is far more than these tech nology companies that have done IPOs in the US. The potential for this is endless. The $5.4 million offering is a Private Placement, and targeted only at specific institutions and high net worth individuals who have been solicited. It is therefore not a public offering, and members of the Bahamian public should not seek to become involved or apply for shares. Explaining the rationale for integrating/merging Omni Financial Services and Mango into one, Dr Rodgers said the latters technology and payments systems would eliminate the need for persons to physically come into the offices of money transmission businesses, such as the former, to send funds overseas. If you send money by cell phone you can do it from home, and you will be able to send money to Jamaica, Haiti, without hav ing to go downtown or to any money transmission business, he added. The potential is for this to be used on a worldwide basis. Describing the export potential for Mangos card and payment systems technology, Dr Rodgers focused on the Middle East, where thousands of Pakistani and Filipino labourers were employed and frequently s ent money home via money transmission businesses. Advocating that they would be able to do these money transfers via Mango for a fee of $0.50 per transaction or less, Dr Rodgers said studies had shown that Filipinos working overseas collectively sent home $1.5 bil lion per year. He argued that money transmission firms typically charged fees equivalent to 10-15 per cent of the sums being transferred, and said Mangos technology could perform the same function at a fraction of that expense, thereby boosting gross domestic product (GDP Technology infrastructure is becoming as important as health infrastructure, education infrastructure and physical infrastructure, Dr Rodgers said. It allows you to things much more rapidly and extensively. We need a third arm of our economy, and believe technology and computerrelated technology is the way to go. Speaking specifically to the TSP private placement, Dr Rodgers said it was the first technology-related offering to come to the Bahamian capital markets. As a result, it would appeal to sophisticated, rather than the average, investor, due to the need to understand the product and what its about. Its really a niche market, he explained. The great thing about this is it offers peo ple an opportunity to invest in technology that can be, and will be, deployed around the world. There is no company I know of that has combined a debit card capacity with mobile payments and the Internet. Certainly, the world is moving towards mobile payment....... Cellular phones have become a very important part of our lives, not just in communicating with people, but how we make payments. FROM page 1B Mango provider extends $5.4m private offering T heres no monopoly on this type of expertise, considering we as a collective entity, ourselves and CFAL, would have beenm arket leaders in that space for quite a number of years, having launched more than 75 per cent of the issues that are publicly listed on BISX. INSIGHT For the stories behind the news, read Insight on Mondays
BUSINESS PAGE 10B, FRIDAY, JULY 15, 2011 THE TRIBUNE PricewaterhouseCoopers (PwC partner has pledged to increase the accounting firms market visibility through rebranding, while also expanding its business advisory practice. Prince Rahming promised the Bahamian market: My partners and I seek to become more visible and accessible to you as we aim to better understand your needs and expectations. As we look to the weeks and months ahead you will begin to see evidence of grand changes, which will include the formal launch ing of our new logo, and the launch of our expanded Business Advisory practice to include business recovery services, IT consulting, human resources and pay roll services, corporate finance services, forensic accounting and corporate and tax compliance services. PwC is hoping these changes will encourage growth across all business lines in its business advisory practice. Mr Rahming comes to the Bahamas after a 10-year tenure with PwC Switzer land, where he served in roles such as lead banking auditor for the Swiss Finan cial Market Supervisory Authority (FINMA 2006, he became a director of PwC Switzerland, and was made a partner 12 months later. Debate Youre going to see that because of the leadership and expertise that we have, including the fact that I am coming with 10 years of experience in Switzerland one of the worlds leading financial sectors were going to be more engaged in debate, particularly when it comes to issues surrounding the health and continued sustainability of the financial services industry in the Bahamas, said Mr Rah ming. He was speaking after being introduced to his PwC colleagues, accounting pro fessionals and government officials at the Balmoral Club. He succeeded Clifford Johnson as PWC (Bahamas senior partner on July 1. Our firm has a rich history in the Bahamas. And as the new leader, I will build on this strong legacy and take steps to reconfirm our position as the preemi nent professional services firm in the country, Mr Rahming said. We will achieve this through renewed energy and focus, one-on-one delivery of client services, quality in work, and the creation of added value to our clients as we seek to make our firm distinctive and, once again, relevant in the local mar ketplace. P WC PARTNERS: ( L-R) Prince A. Rahming, PwC territory senior partner; Gowon N.G.Bowe, PwC partner; Dawn A. Patton,P wC partner; Kevin D. Seymour, PwC partner, a dvisory services; and Clifford A. Johnson, PwC partner. Missing is Myra R. Lundy-Mortimer, PwC partner. PWC to expand business ADVISORY N EWSENIORPARTNERPLEDGESREBRANDINGTOENHANCEMARKETPRESENCE P WC GUESTS: ( l-r) Lenworth C. Smith, retired PwC partner; Craig A. Tony Gomez; Prince A. Rahming, PwC territory senior partner; Alfred M. Sears; Raymond L. Winder; and Anwer Sunderji. Our fir m has a rich history in the Bahamas. And as the new leader, I will build on this str ong legacy and take steps to reconfirm our position as the preeminent professional services firm in the country.
T HETRIBUNE SECINSIDE TRAK T T U U R R N N T T O O 4 4 E E . . . T T U U R R N N T T O O 2 2 E E . . . T T U U R R N N T T O O 5 5 E E . . . WORLD CUP: TOP-RANKED US TO FACE JAPAN SHAQ JOINS TURNER SPORTS AS NBA ANALYST BRITISH OPEN: TOM LEWIS IN THE LEAD BRAZIL BEA TS ECUADOR 4-2 TO REACH COPA QUAR TERS NO SEEDED PLA YERS REACH QUARTERFINALS IN MERCEDES CUP SERENA, MAVS GET BIG HONOURS A T ESPY AWARDS SANCHEZ WINS 12TH TOUR STAGE T T U U R R N N T T O O 7 7 E E . . . T T U U R R N N T T O O 5 5 E E . . . T T U U R R N N T T O O 2 2 E E . . . T T U U R R N N T T O O 8 8 E E . . . Debbie, Demetrius to lead CAC team TEAM LEADERS: Grand Bahamian quarter-miler Demetrius Pinder (INSET and sprinter Debbie Ferguson-McKenzie named the most outstanding senior athletes at the recent BTC Track and Field Nationals in Grand Bahama will lead the Bahamas 34-member team for the Senior CAC Championships, which is all set to get underway in Mayaguez, Puerto Rico, today and run until Sunday, July 17. SEE FULL STORY ON PAGE 3E By RENALDO DORSETT Sports Reporter firstname.lastname@example.org A n unwelcome return to the FIBA Americas Cen trobasket tournament greeted the Bahamian Under-17 junior national team on day one of the event. The Bahamas fell to host country Puerto Rico in a lopsided thrashing, 101-30, at the Fernando "Rube" Hernndez Coliseum in Gurabo, Puerto Rico. Taneka Sandiford led the Bahamas with the games only double double and was the lone team member to reach double figures in either category with 15 points and 10 rebounds. Kaylicia Laing added eight points and four rebounds. However, that was nearly the extent of the scoring for Team Bahamas as the remainder of the lineup managed just two field goals. Puerto Rico's high-powered offense placed five players in double figures and seven players who scored over eight points. Diamalises Rivera was the high scorer with 15 points, Daneichka Canales added 12, Krystal Luciano and Claudia Ortiz had 11 apiece while Naysha Franqui chipped in with 10. The Bahamas struggled offen sively for much of the game, shoot ing just 7-43 from the field for 16 per cent and shot just 59 per cent from the free throw line. Ball control became a major issue as they allowed 46 turnovers yet registering just three assists. In contrast, the Puerto Ricans gave up 18 turnovers but dished 32 assists led by Luciano who posted a game high nine. The Bahamas fell behind early in the game and trailed 29-5 after the first quarter. They delivered their best offensive output in the second quarter but were still outscored 3014 in the period and trailed 59-19 at the half. The Bahamas managed just 11 points in the second half, four points in the third, and seven points in the second quarter in the loss. In the first game of the evening, Team Dominican Republic beat the Cayman Islands team 113-42. The Dominicans dominated right from the start, winning the first half of the game, 54-25. Frabel Feliz was the best scorer of the game with 24 points for Dominican Republic squad that ended the game with an incredible 125 shot attempts, thanks to 86 rebounds, 47 of which were on the offensive boards. Carolay Hernandez led the way for the Dominicans with an incredi ble all-around game with 22 points, 7 rebounds, 4 assists and 5 steals. Guatemala beat the Virgin Islands in the second game of the tourna ment, 71-60. The Guatemalans had a great first half as they led 43-22 at the half, a margin that proved to be insurmountable for the Virgin Islanders. Emily Rosales had a huge game with 29 points, 5 rebounds and 3 assists. The Bahamas last competed in the Centrobasket Under-17 tournament in 2009 but finished with a disappointing 0-5 record. The team was led by Sandiford who averaged 12.6 points and 7.4 rebounds over the course of the tournament. Puerto Rico blows by Bahamas, 101-30 DOUBLE DOUBLE: Taneka Sandiford led Team Bahamas with the games only double double.
By RENALDO DORSETT Sports Reporter email@example.com EXECUTIVES of the Bahamas Basketball Federation (BBF isation and indeed the country is well prepared to return as hosts of the regions top basketball event for the first time in over a decade. Usie R Richards, president of the Caribbean Basketball Confederation, was on hand to finalize for the XXI (21st CBC Basketball Championships July 23-29 and the XX (20th Basketball Championships August 3-7 at Kendal Isaacs Gymnasium. This will mark the first time in 10 years that the Bahamas has hosted the championships. "The Caribbean Basketball C onfederation is a sub-zone o f FIBA Americas, which is a z one of the International Basketball Federation, which is either the second or third largest sports federation in the international Olympic Committee with some 212 members," Richards said. "We are divided into five zones from Africa, Asia, America, Oceania and Europe. In our area, we are known as FIBA Americas.We have three sub-zones within our zones, the North America, Central America and Caribbean and South America. "Within the sub zone of Central American and Caribbean, there are two subzones. Those two sub-zones are CONCABA, which represent some nine countries in the Caribbean and the CBC, which represents some 24 national federations from Bahamas, Barbados, Bermuda and Jamaica in the north down to the tip of South America to include Guyana and Suriname." Formerly known as the Caricom Basketball Confederation, Richards said in 2000, the name was changed to the CBC with countries such as Cuba and the Dominican Republic joining the list of countries that now make up the region. Richards said the CBC is delighted to be back in the Bahamas when Caricom stages its last Junior Caricom Tournament. According to BBF president Lawrence Hepburn, the men's tournament will be held under the patronage of Mychal 'Sweet Bells' Thompson, a former three-time NBA champion with the Los Angeles Lakers, and will be divided into two zones. From the tournament, the top three teams in both the men's and women's divisions will advance to the Centro Basket, which is made up of the top eight countries in the Central American and Caribbean. At the end of the Centro Basket tournament, the top four teams in the men and women will secure berths in the FIBA Americas Zone Championships. And from the Zone Championships, the top three teams will go on to the World Championships or the Olympics, which ever is held first at the completion of the latter event. Richards stressed that while it has been quite a while since the Bahamas has had a team that qualified for Caricom, this is a golden opportunity for the Bahamian public to lend their support behind the federation's efforts to get the job done this year at home. In endorsing the Ministry of Sports' commitment to the tournament, sports director Timothy Munnings said it's a great opportunity for the local, collegiate and professional athletes to band together to display their talent in a cohesive unit to get the Bahamas back as a powerhouse in the region. Munnings, an Olympic track and field athlete, said the ministry will do its part in assisting the federation in making sure that the event isa tremendous success through a small financial donation. "It's a great sports tourism initiative, so we hope to have the fine folks from the Ministry of Tourism on board with us," Hepburn stated. "We want to let the public know that there will be revenue for having these people here. We want the Bahamian people to make them feel special, so come out and support every team that comes in here because of the exposure that the Bahamas will gain from this." SPORTS TRIBUNE SPORTS FRIDAY, JULY 15, 2011, PAGE 3E Bahamas to host events for first time in 10 years Mens tourney to be held under patronage of Mychal Sweet Bells Thompson FORMER NBA CHAMPION: BBF president Lawrence Hepburn says the men's tournament will be held under the patronage of Mychal 'Sweet Bells' Thompson (above Angeles Lakers. K K o o b b e e h h o o l l d d s s c c l l i i n n i i c c f f o o r r y y o o u u t t h h i i n n S S o o u u t t h h K K o o r r e e a a LAKERS Kobe Bryant gives an instruction for South Korean students during his basketball clinic for youth in Seoul, South Korea, on Thursday. Bryant is in Seoul as a part of the five-Asian cities tour. (AP Photo THE Bahamas Amateur Athletics Association will today field a 34-member team for the Senior CAC Championships in Mayaguez, Puerto Rico. The event concludes on Sunday, July 17. Team Bahamas will be led by Grand Bahamian quartermiler Demetrius Pinder and sprinter Debbie FergusonMcKenzie, both of whom were named most outstanding senior athletes at the BTC Track and Field Nationals in Grand Bahama. Other team members include sprinters Nivea Smith, quarter-milers Michael Mathieu, Andrae Williams, Latoy Williams, hurdler Jeffrey Gibson and high jumper Donald Thomas. The remaining womens team members consist of sprinters Sheniqua Ferguson, Lanece Clarke, Anthonique Strachan and V'Alonee Robinson, quarter-miler Cache Armbrister, middle distance runner Hughnique Rolle, hurdlers Katrina Sey mour, Petra McDonald and Ivanique Kemp, long jumper Bianca Stuart, triple jumper Tamara Myers and javelin thrower Laverne Eve. On the mens side will be sprinters Jamial Rolle, Rodney Green, Trevano Mack ey, Adrian Griffith, and War ren Fraser, quarter-milers Ramon Miller, Avard Moncur, half-miler Wesley Neymour, middle distance runner Oneil Williams, hurdlers Nathan Arnett and jumpers Troy Bullard, Trevor Barry, Leevan Sands and Jamal Wil son. Kenyan Knights' head coach Frederick Bastian was named as an assistant coach to the senior team. "I would like to thank God for this opportunity to be named as one of the coaches for the Senior CAC championships after being named as one of the coaches of last year's junior national team at the NACAC. The Senior Nationals CAC gives you a different feeling than the juniors as they are more dependent on you as a coach, but on the senior level as a coach you really concentrate more on the technical side of the race and their execution," he said. "I don't see myself as a coach but a student of the game. Just the opportunity to learn more of the sport in order to teach that." The head of the delegation will be Foster Dorsett and he will be joined by the team manager Ray Hepburn, head coach Rudolph Ferguson, assisted by Fritz Grant, Jason Edwards (horizontal jumps and James Rolle (vertical jumps). 34-member T eam Bahamas in Senior CAC Championships HIGH JUMPER Donald Thomas is expected to be a part of Team Bahamas for the the Senior CAC Championships in Puerto Rico. The event concludes on Sunday, July 17.