NASSAU AND BAHAMA ISLANDS LEADING NEWSPAPER Volume: 107 No.203FRIDAY, JULY 29, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUN WITH SHOWER HIGH 90F LOW 81F THE grieving family of notorious murder victimD ion Emperor Knowles last night denied his death was a revenge killing. T hey also defended Knowles's record and hit out a t media reports that said he had been on the polices most wanted list for murder. U p to press time last night, family members had not yet identified the body of Knowles, which was found riddled with bullets atM ilo Butler Highway and Fire Trail Road shortly before 10pm. It is believed Knowles who was feared as a Fox Hill gang leader had been rid ing a trail bike when he was k nocked off by a car, chased down and shot repeatedly. The family will not a cknowledge the reports until an identification is m ade, according to Knowles' mother, Beverley Knowles. M rs Knowles, 70, told T he Tribune that discovering about her son's death through the media added even greater insult to injury. S he said: "We haven't confirmed that. That's my child, don't you think I TRY OUR McFLURRY SNICKERS The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM Emperor murder not revenge killing NOTORIOUS GANG LEADERS FAMILY TELLS THE TRIBUNE... BORCO C C A A P P A A C C I I T T Y Y D D O O U U B B L L I I N N G G T T A A R R G G E E T T SEE BUSINESSSECTIONB 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 m e r c h a n d i s e t r a d e d e f i c i t i n c r e a s e d y e a r o v e r y e a r b y 6 0 2 p e r c e n t t o $ 2 2 4 1 b i l l i o n i n 2 0 1 0 d a t a p u b l i s h e d b y t h e D e p a r t m e n t o f S t a t i s t i c s h a s r e v e a l e d d e s p i t e e x p o r t s g r o w i n g a t a s l i g h t l y h i g h e r r a t e t h a n i m p o r t s T h e m e r c h a n d i s e t r a d e d e f i c i t w h i c h m e a s u r e s t h e d i f f e r e n c e b e t w e e n t h e B a h a m a s t o t a l e x p o r t s o f p h y s i c a l g o o d s a n d i m p o r t s r o s e i n d o l l a r t e r m s b y $ 1 2 7 3 m i l l i o n i n 2 0 1 0 g r o w i n g f r o m $ 2 1 1 4 b i l l i o n t o $ 2 2 4 1 b i l l i o n W h i l e t h e B a h a m a s t o t a l e x p o r t s r o s e b y $ 3 6 5 m i l l i o n o r 6 2 4 p e r c e n t f r o m $ 5 8 4 9 m i l l i o n t o $ 6 2 1 4 m i l l i o n t o t a l i m p o r t s g r e w b y 6 0 7 p e r c e n t g r o w i n g f r o m $ 2 6 9 9 b i l l i o n i n 2 0 0 9 t o $ 2 8 6 3 b i l l i o n l a s t y e a r T h e b a l a n c e o f t r a d e c o n t i n u e d t o r e s u l t i n a d e f i c i t t h e D e p a r t m e n t o f S t a t i s t i c s r e p o r t s a i d T h e t r a d e b a l a n c e b e t w e e n 2 0 0 8 a n d 2 0 0 9 s h o w e d a d e c r e a s e o f 1 6 4 p e r c e n t r e s u l t i n g i n a n e t t r a d e b a l a n c e o f $ 2 1 b i l l i o n c o m p a r e d t o $ 2 5 b i l l i o n i n 2 0 0 8 H o w e v e r t h e b a l a n c e b e t w e e n 2 0 0 9 a n d 2 0 1 0 s h o w e d a n i n c r e a s e o f 6 p e r c e n t N o n e o f t h i s i s s u r p r i s i n g g i v e n t h e h i g h p r o p e n s i t y o f t h e B a h a m a s t o i m p o r t p r e t t y m u c h e v e r y t h i n g i t c o n s u m e s T h e d e c l i n i n g t r a d e d e f i c i t b e t w e e n 2 0 0 8 2 0 0 9 s h o w e d t h e r e c e s s i o n a t w o r k a s B a h a m i a n c o n s u m e r s a n d b u s i n e s s e s c u t b a c k o n s p e n d i n g h e n c e a c o r r e s p o n d i n g r e d u c t i o n i n i m p o r t s T h e 2 0 1 0 y e a r o v e r y e a r i n c r e a s e s i n b o t h e x p o r t s a n d i m p o r t s c o u l d b e s i g n s o f i n c r e a s i n g d e m a n d f o r t h e f o r m e r a n d a r e c o v e r y i n c o n s u m e r / b u s i n e s s s p e n d i n g a s t h e w o r s t o f t h e r e c e s s i o n n o w s e e m s b e h i n d t h e B a h a m a s H o w e v e r e x p o r t s a p p e a r f a r c l o s e r t h a n i m p o r t s t o r e a c h i n g t h e i r p r e r e c e s s i o n p e a k o v e r t h e p a s t f i v e y e a r s B e t w e e n 2 0 0 6 2 0 1 0 e x p o r t s p e a k e d a t $ 7 0 1 5 3 3 m i l l i o n i n 2 0 0 8 s o m e $ 8 0 m i l l i o n m o r e t h a n l a s t y e a r H o w e v e r i m p o r t s a t $ 2 8 6 3 b i l l i o n w e r e w e l l b e l o w t h e $ 3 1 0 4 b i l l i o n a n d $ 3 2 3 b i l l i o n l e v e l s a c h i e v e d i n 2 0 0 7 a n d 2 0 0 8 A n d t h e t r a d e d e f i c i t i s a l s o b e t w e e n $ 2 0 0 $ 3 0 0 m i l l i o n b e l o w l e v e l s s e e n i n 2 0 0 6 2 0 0 8 T h e D e p a r t m e n t o f S t a t i s t i c s r e p o r t s h o w e d t h a t m i n e r a l f u e l s w e r e t h e l a r g e s t i m p o r t c a t e g o r y i n 2 0 1 0 a c c o u n t i n g f o r $ 6 8 7 1 m i l l i o n o r 2 4 p e r c e n t o f t h e t o t a l T h e i r c o n t r i b u t i o n r o s e b y 2 3 3 p e r c e n t o v e r 2 0 0 9 F o o d a n d l i v e a n i m a l i m p o r t s i n c l u d i n g f r e s h m e a t s f r u i t s a n d v e g e t a b l e s a n d p r o c e s s e d f o o d s g r e w b y 2 1 p e r c e n t t o a c c o u n t f o r $ 4 2 6 6 m i l l i o n o r 1 4 9 p e r c e n t o f t o t a l i m p o r t s H o w e v e r m a c h i n e r y a n d t r a n s p o r t e q u i p m e n t a n d m a n u f a c t u r e d g o o d s i m p o r t s b o t h f e l l b y 6 6 p e r c e n t a n d 4 4 p e r c e n t y e a r o v e r y e a r r e s p e c t i v e l y T h e f o r m e r a c c o u n t e d f o r $ 4 9 3 9 m i l l i o n o r 1 7 2 p e r c e n t o f t o t a l i m p o r t s a n d t h e l a t t e r $ 3 7 7 m i l l i o n o r 1 3 2 p e r c e n t $ 5 2 5 $ 5 3 9 $ 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 2 9 2 0 1 1 E G O V E R N M E N T P L A T F O R M T O B O O S T R E V E N U E 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 I N C R E A S I N G t h e m i n i m u m w a g e i n a d e p r e s s e d e c o n o m y i s n o t a g o o d i d e a a 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 ) d i r e c t o r t o l d T r i b u n e B u s i n e s s f e a r i n g i t w o u l d r e s u l t i n b u s i n e s s e s l a y i n g o f f c e r t a i n c a t e g o r i e s o f w o r k e r s B r i a n N u t t w h o c h a i r s t h e B C C E C s e m p l o y e e a n d l a b o u r r e l a t i o n s d i v i s i o n c o m m e n t i n g o n t h e P r o g r e s s i v e L i b e r a l P a r t y s ( P L P ) p l a n s t o r a i s e t h e p r i v a t e s e c t o r m i n i m u m w a g e f r o m $ 1 5 0 p e r w e e k t o $ 2 1 0 i t w a s r e e l e c t e d t o g o v e r n m e n t u r g e d t h e p a r t y t o g o f o r a m u c h s m a l l e r 1 0 p e r c e n t i n c r e a s e i f i n t e n d e d t o f o l l o w t h r o u g h r a t h e r t h a n t h e p r o p o s e d 4 0 p e r c e n t r i s e H o w e v e r M r N u t t w h o h e a d e d t h e B a h a m a s E m p l o y e r s C o n f e d e r a t i o n ( B E C o n ) p r i o r t o i t s m e r g e r w i t h 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 g r e e d t h a t i t w o u l d b e r e a s o n a b l e t o i n d e x l i n k i n c r e a s e s i n t h e m i n i m u m w a g e t o t h e p r e v a i l i n g i n f l a t i o n r a t e s o t h a t e m p l o y e e w a g e s a r e n o t e r o d e d b y s u s t a i n e d c o s t o f l i v i n g i n c r e a s e s H e r e h e f o u n d h i m s e l f i n a g r e e m e n t w i t h t r a d e u n i o n l e a d e r O b i e F e r g u s o n A n d M r N u t t a n d t h e T r a d e s U n i o n C o n g r e s s ( T U C ) p r e s i d e n t a l s o a g r e e d t h a t t h e c u r r e n t $ 1 5 0 m i n i m u m w a g e p e r w e e k w a s n o t e n o u g h f o r a p e r s o n t o l i v e o n t h e l a t t e r a r g u i n g i t c o u l d n o t p r e v e n t a p e r s o n a n d t h e i r f a m i l y f r o m e x i s t i n g i n p o v e r t y I n a n i n t e r v i e w w i t h T r i b u n e B u s i n e s s M r 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 O i l R e f i n i n g C o m p a n y s ( B O R C O ) i s s t i l l t a r g e t i n g a l o n g e r t e r m o p p o r t u n i t y t o d o u b l e t h e G r a n d B a h a m a b a s e d f a c i l i t y s e x i s t i n g 2 1 6 m i l l i o n b a r r e l s t o r a g e c a p a c i t y w i t h i t s e x i s t i n g $ 3 5 0 $ 4 0 0 m i l l i o n p r o j e c t o n t a r g e t t o c o m p l e t e i n t h e 2 0 1 2 s e c o n d h a l f I n a p r e s e n t a t i o n t o c o n f e r e n c e s o r g a n i s e d b y S w i s s b a n k U B S N e w Y o r k S t o c k E x c h a n g e ( N Y S E ) l i s t e d B u c k e y e P a r t n e r s r e m a i n e d u p b e a t o n i t s n e w $ 1 7 b i l l i o n a c q u i s i t i o n n o t i n g t h a t B O R C O s e x i s t i n g s t o r a g e c a p a c i t y w a s f u l l y c o n t r a c t e d w i t h c u r r e n t d e m a n d l e v e l s w e l l i n e x c e s s o f a v a i l a b l e c a p a c i t y M o s t c l i e n t s o f t h e G r a n d B a h a m a b a s e d f a c i l i t y w e r e t r a n s n a t i o n a l a n d n a t i o n a l o i l c o m p a n i e s w h o w e r e l o c k e d i n t o t h r e e f i v e y e a r c o n t r a c t s B u c k e y e s a i d S o m e 8 0 p e r c e n t o f B O R C O s r e v e n u e s c a m e f r o m s t o r a g e c o n t r a c t s w i t h 1 1 p e r c e n t g e n e r a t e d b y s h i p b e r t h i n g a n d t h e r e m a i n i n g 9 p e r c e n t f r o m a n c i l l a r y s e r v i c e s s u c h a s b l e n d i n g b u n k e r i n g a n d t r a n s s h i p m e n t A m i d a h i g h l i k e l i h o o d o f c o n t r a c t r e n e w a l s b y i t s e x i s t i n g c u s t o m e r b a s e B u c k e y e s a i d s o m e 1 0 2 m i l l i o n b a r r e l s o f s t o r a g e c a p a c i t y a t B O R C O w a s t a k e n b y m a j o r i n t e r n a t i o n a l o i l c o m p a n i e s A n o t h e r 4 3 m i l l i o n b a r r e l s w a s o c c u p i e d b y n a t i o n a l o i l c o m p a n i e s w i t h 3 8 m i l l i o n b a r r e l s w o r t h o f c a p a c i t y t a k e n b y e n e r g y t r a d i n g f i r m s a n d 2 5 m i l l i o n b y e n e r g y c o m p a n i e s B i l l i n g B O R C O a s t h e f o u r t h l a r g e s t p e t r o l e u m p r o d u c t s t e r m i n a l i n t h e w o r l d B u c k e y e s a i d t h e f i r s t p h a s e o f i t s i m m e d i a t e t e r m e x p a n s i o n w o u l d a d d 3 5 m i l l i o n b a r r e l s o f s t o r a g e c a p a c i t y T h i s h a d b e e n i n i t i a t e d i n t h e s e c o n d q u a r t e r o f 2 0 1 1 w i t h t h e f i r s t i n c r e m e n t a l c a p a c i t y e x p e c t e d t o b e o n l i n e i n t h e s e c o n d h a l f o f 2 0 1 2 A s e c o n d p h a s e w h i c h w i l l a d d a n o t h e r 4 4 m i l l i o n b a r r e l s o f s t o r a g e c a p a c i t y i s e x p e c t e d t o s t a r t l a t e r t a k i n g t h e a d d i t i o n s t o 7 9 m i l l i o n b a r r e l s T h e p r o j e c t i s e x p e c t e d t o r e q u i r e a n $ 3 5 0 $ 4 0 0 m i l l i o n i n v e s t m e n t a n d g e n e r a t e a n e x t r a $ 7 0 $ 8 0 m i l l i o n i n a n n u a l o p e r a t i n g i n c o m e f o r B O R C O A n d l o o k i n g t o t h e f u t u r e t h e r e w a s r o o m t o d o u b l e e x i s t i n g s t o r a g e c a p a c i t y B u c k e y e a l s o t o l d t h e U B S c o n f e r e n c e t h a t f u e l o i l a c c o u n t e d f o r 6 4 p e r c e n t o f B O R C O s s t o r e d p r o d u c t s w i t h c r u d e o i l a t 2 3 p e r c e n t B O R C O i s s t r a t e g i c a l l y p o s i t i o n e d t o a c t a s a h u b i n f a c i l i t a t i n g i n t e r n a t i o n a l l o g i s t i c s a n d t r a d e f o r b u l k b u i l d b r e a k b u l k a n d b l e n d i n g o p e r a t i o n s B u c k e y e s a i d n o t i n g t h a t i t e x p o r t e d p r o d u c t t o C h i n a a n d S i n g a p o r e a n d r e c e i v e d f r o m a s f a r a w a y a s I n d i a B O R C O s 1 0 0 p e r c e n t o w n e r a l s o n o t e d t h a t t h a t f a c i l i t y w a s 8 0 m i l e s f r o m s o u t h F l o r i d a a n d 9 2 0 m i l e s f r o m N e w Y o r k w i t h d e e p w a t e r a c c e s s o f u p t o 9 1 f e e t f o r t a n k e r s 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 n e w l y l a u n c h e d $ 1 0 2 m i l l i o n e g o v e r n m e n t p l a t f o r m m u s t d e l i v e r o n b u s i n e s s c o m m u n i t y e x p e c t a t i o n s a n d t i m e l i n e s 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 s ( B C C E C ) c h a i r m a n s a i d y e s t e r d a y a d d i n g t h a t i t c o u l d h a v e a t r e m e n d o u s i m p a c t f o r s m a l l a n d m e d i u m s i z e d c o m p a n i e s A c k n o w l e d g i n g t h a t t h e o n l i n e d e l i v e r y o f g o v e r n m e n t s e r v i c e s w a s t h e w a y o f t h e f u t u r e a n d t h e B a h a m a s s h o u l d h a v e r e a c h e d t h i s p o i n t l o n g b e f o r e W i n s t o n R o l l e t o l d T r i b u n e B u s i n e s s t h e m o v e c o u l d s t i l l h a v e a v e r y d y n a m i c e f f e c t o n t h e e c o n o m y T h e e x p e c t e d e f f i c i e n c y 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 G O V E R N M E N T S n e w l y l a u n c h e d $ 1 0 2 m i l l i o n e s e r v i c e s p l a t f o r m w i l l t r a n s f o r m t h e B a h a m a s i n t o a m o r e b u s i n e s s f r i e n d l y j u r i s d i c t i o n t h e m i n i s t e r o f s t a t e f o r f i n a n c e s a i d y e s t e r d a y w i t h i n c r e a s e d T r e a s u r y r e v e n u e s a m o n g t h e s i g n i f i c a n t p o t e n t i a l b e n e f i t s $ 1 0 2 m i n v e s t m e n t t o c r e a t e m o r e b u s i n e s s f r i e n d l y j u r i s d i c t i o n H o p e f o r s i g n i f i c a n t b e n e f i t s a n d E a s e o f D o i n g B u s i n e s s r a n k i n g b o o s t B E N E F I T S : Z h i v a r g o L a i n gS E E p a g e 4 B T R A D E D E F I C I T U P 6 % T O $ 2 2 4 1 B N B a h a m i a n e x p o r t s g r o w a t s l i g h t l y h i g h e r r a t e t h a n i m p o r t s S E E p a g e 4 B E G O V E R N M E N T M U S T D E L I V E R M e e t i n g b u s i n e s s e x p e c t a t i o n s a n d t i m e l i n e s k e y f o r $ 1 0 2 m p l a t f o r m P o t e n t i a l d y n a m i c e c o n o m i c i m p a c t a n d t r e m e n d o u s f o r S M E s S E E p a g e t w o B O R C O c a p a c i t y d o u b l i n g t a r g e t I n i t i a l $ 3 5 0 $ 4 0 0 m e x p a n s i o n o n t a r g e t a n d s t i l l s e t t o g e n e r a t e e x t r a $ 7 0 $ 8 0 m i n a n n u a l o p e r a t i n g i n c o m e M I N I M U M W A G E I N C R E A S E N O T A G O O D I D E A B C C E C d i r e c t o r w a r n s i t w o u l d r e s u l t i n i n c r e a s e d l a y o f f s a n d g r o w c o s t s f o r a l r e a d y s t r e s s e d f i r m s U r g e s P L P t o g o f o r 1 0 % r a t h e r t h a n 4 0 % r i s e B u t a g r e e s w i t h u n i o n l e a d e r o n $ 1 5 0 p e r w e e k n o t b e i n g e n o u g h t o a v o i d p o v e r t y B R I A N N U T TS E E p a g e 4 B By CELESTE NIXON T ribune Staff Reporter email@example.com THE dengue fever outbreak seems to be slowingd own, Health Minister Dr Hubert Minnis said. A ccording the Ministry of Environmental Health, while t here are 34 laboratory confirmed cases of dengue, there are 195 clinical confirmedc ases with another 561 persons who showed symptoms over the last six days. DENGUE FEVER OUTBREAK APPEARS TO BE SLOWING SEE page nine By NOELLE NICOLLS Tribune Staff Reporter firstname.lastname@example.org OBIE WILCHCOMBE, Member of Parliament for West End, said his life was changed in 2007 after he was threatened with assassination. I became very cautious after that. I dont go out very much when I am in Nassau. An experience like that, when someone threat ens your life, changes your life, and it did, MPS LIFE W AS CHANGED AFTER ASSASSINATION THREAT SEE page two NO UPDATESwere issued concerning the prisoner who escaped custody on Tuesday. Prison officials could not be reached for comment and the police said they did not have an update on the situation. As a result, the details of the incident are still sketchy, but it would seem the man is still on the loose. On Wednesday, a source close to the matter said that the escape involved two inmates. One was reported to have been cap tured, but the other a Jamaican according to the source evaded law enforcement officers. The man's name has not been released, nor has a description. By SANCHESKA BROWN THE family of the 27-year-old father who was shot and killed Tuesday night say he was a victim of being in the wrong place at the wrong time. A sister of George Ferguson, who did not want to be named for fear of her life, claims her brother was a good man who did not hang on the blocks and mostly stayed home. Ferguson and another man, 20-yearold Rashad Paul, were attacked in a drive-by shooting. Police did not find Ferguson's body until the next day around 6am. Paul, 20, was also shot in the leg and By AVA TURNQUEST Tribune Staff Reporter email@example.com MASS unemployment is directly impacting the level of violent crime experienced in the country, according to local pastors, who claim that poor economic conditions are "tempting" Bahamians. Outraged by the spate of "revenge" and "vigilante" killings occurring in New Providence, victim's rights organization Citizens for Justice (CFJ both the public and private sectors to implement change. Bishop Walter Hanchell, chairman SEE page two SEE page nine ESC APED PRISONER STILL ON THE LOOSE MURDERED F ATHER AS A GOOD MAN MASS UNEMPLOYMENT IMPACTING CRIME SEE page nine OBIEWILCHCOMBE EMERGENCY SERVICES STAND OVER THE BODY OF DION EMPEROR KNOWLES (INSET Felip Major/Tribune staff SWIMMINGINSPORTSSECTIONE SCENE OFSHOOTING
s hould be the one to conf irm that that was my child?" "Dion was broadcast as the most wanted criminal without even contacting the next of kin. He wasn't wanted by police, he was not on bail, he had no cases, he was a free man. You're not supposed to put a person name on the air, on the television, until you have contacted next of kin. That was not done, it hasn't been done as yet, so we don't even know if that's him. No police came to say nothing. We haven't even seen the body, so that's propaganda." Residents in Fox Hill say Knowles's death was part of a n ongoing cycle of revenge killing which was sparked after he was wanted for the m urder of his nephew in 2 007. One resident said: "People in Fox Hill respected him, feared him and you knew to never mess with him or people near him. A lot of young guys wanted to work for him. I can't say that he forced them, he had such a pull that people wanted to work for him he gave them money a nd respect. Sometimes he would pay his people in motorbikes. He would war with other g uys in the (Fox Hill His faction was the centre of a lot of problems." It is claimed there has b een no communication between the police and Knowless family until relat ives sought out investigat ors concerning the incident, a t which point they were give n an appointment to meet w ith detectives today. I n a heated moment, one family member said: "They had it on the media like he was the worst person in the world. He wasn't wanted, he would be (at his home in Fox Hill) all the time. The p olice are in and out of here when they weren't in here looking for money from h im. Who does beg more m oney from him than the p olice?" Supt Stephen Dean, director of the National Crime Prevention Office, d ismissed rumours circulating in Fox Hill that the police had been involved in K nowles's death. They have no evidence t o suggest that, said Supt D ean. Care We don't subscribe to that. We don't subscribe to a p olice state. We treat every citizen with care, respect and trust." A s investigations are conducted in the Fox Hill area, M r Dean advised that police efforts are not limited to that c ommunity. H e also maintained there was insufficient evidence at this time to suggest that Knowles's death or those c ommitted in recent weeks were revenge killings. Knowles's sister, Donna K nowles, said: "If you can't s ay nothing nice about anyb ody, you just bring up the p ast I don't care who it is d on't do it. You have to h ave compassion for other people." She added: "You can't publicise what you feel like to try to discriminate, you still have to go about doing things the right way and i t's wrong what they is be d oing, to everybody. Let bygones be bygones, let the p ast be the past." P olice last night con f irmed two men are helping them with their inquiries. LOCAL NEWS PAGE 2, FRIDAY, JULY 29, 2011 THE TRIBUNE of CFJ, said: "This crime situation with job lessness, unemployment and the crime, it's so c losely connected to poverty. They are hurting, they don't have and they have to eat. We are asking political leaders, the church every church right now should reach out to t he community right around you." The group also called for local churches to make a difference in their surr ounding communities. They said that the more than 2,000 religious institutions in the coun t ry could make a greater differe nce. Belief "I have a strong belief that if e very church would take their street, walk their street, talk their street, know what's going on on their street, touch the young people on their street, touch parents on the street, I believe that we can bring changet o our nation, one street at a time," said Pastor Henry Higgins, a member of the group. W hile maintaining that they did not advocate criminal activity, Bishop Hanchell explained that the lack of jobs paired with limited opportunities has created a breeding ground for crime. "We realise that with this angry generation that we have now, said Bishop Hanchell. We need persons to go in the community to deal with conflict resolution and anger management and train these people. We need pro grammes for young people, we need initiatives. "We need business people to join up with us and finance some different initiatives for the youth. We need people who will create some jobs, we need investors to come now and do things that are different. We talk about diversification for so long, but nobody is doing it. We need to create some jobs, some indus t ry to put some young people to work." The organisation has some 200 persons on its job register, the majority of whom have skills in the hotel and construction industries.J obs in both industries remain scarce, according to CFJ, which maintains that the level of unemployment is not due to a lack of want. Bishop Simeon Hall, New Covenant Baptist Church, said:" Personal responsibility is part o f the problem, but 38 years after independence, and we still have scores of persons who lackt he qualifications for even menial tasks is a reflection on the government, and both political parties. The people are marginalized." Training The marginalization s temmed from deficiencies in the educational system and training resources. Bishop Halls aid that in order for the gov ernment's job-readiness training and employment programme to be more than "preelection rhetoric", it will have to provide an update to the thousands of applicants in a timely manner. "We have a lot of people who lack the qual ifications and the government must take some responsibility for that, said Bishop Hall, because there have been very little or minimal training programmes and we have got to depend in some ways on foreign labour because our training programmes have not been as diversified as it ought to be." FROM page one MASS UNEMPLOYMENT IMPACTING CRIME EMPEROR MURDER OT REVENGE KILLING NOTORIOUS GANG LEADERS FAMILY TELLS THE TRIBUNE... EMERGENCY SERVICES attend to the body of Dion Emperor Knowles. F ROM page one BISHOP SIMEON HALL
E DITOR, The Tribune. PLEASEallow me to write a few lines to the good and caring people of Bain and Grants Town Con-s tituencies by way of your E ditorial page. M y Brothers and Sisters, The time is now for those of you who are unemployed and/or unemployable or that you wish to start your own business to come forward and step up to the plate, t ake advantage of Prime M inister Hubert Ingraham, and the FNM governments n ew budget and reap the benefits. T he new budget, among other things, is designed to assist thousands of Bahamia ns to become employed and/or self employed. Over $ 25 million has been allocated for the said purpose and so Bain and Grants Town must get its share of the pie. Contact EddieD awkins Jr. for assistance. You are quite aware that I a m interested in becoming the FNM candidate for the B ain and Grants Town Constituency and to become the next elected Member of Parl iament for the said area. In t hat same vain our detract ors have gone on record c riticizing the PMs new b udget. The present MP for t he area Dr BJ Nottage is of the view that it is a political Budget and that the Government is using the Budget to help it win the next General Election, scheduled for 2012. N ever mind Dr. Nottage m aking noise, in my view he does not have the people of Bain and Grants Towns interest or their well being o n his agenda. He is politic ally unschooled and has p ast his time in politics. It is m y opinion that he criticises t he Rt. Hon Prime Minis t ers administration out of jealousy and envy. He, B.J., d id not deliver good and effective representation to the people of Bain and Grants Town; in fact, it is my opinion that B.J. has been a total political failurea nd a disaster in Bain and G rants Town. L ike I said before that you t he people of Bain and Grants Town, and I together with the Free National Movement are the right combination for success in Bain and Grants Town while the detractors are talki ng, criticizing, and making p romises. The learned P.M. and his government are d elivering economic opportunities and economic indep endence to Bahamians. In 2012 general elections B.J. Nottage will become h istory in Bain and Grants Town. I thank you for taking a few minutes of our time to read this letter and I hope that you will respond to me favourably. E DDIE DAWKINS, JR., Nassau, J uly 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, FRIDAY, JULY 29, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES S witchboard (News, Circulation and Advertising) 322-1986 A dvertising Manager (242 C irculation Department (242 N assau Fax: (242 F reeport, Grand Bahama: 1-(242 Freeport fax: (242 W EBSITE w ww.tribune242.com updated daily at 2pm IT IS a tragedy when a politician, so anxious to win an election, panders to the base emotions of an electorate. And in doing so ignores the damaging consequences that his divisive message could have, not only on this generation, but on many generations to come. Apparently Mr Branville McCartney is so anxious to become the next prime minister of this country that he is willing to use the sorry plight of illegal Haitians, and their Bahamian-born children to pander to the fears of voting Bahamians. Such a campaign of hatred will not only split this community, but will eventually build up such an emotional force that when it breaks in years to come this nations way of life would be completely destroyed. One would have thought that the mass killing that targeted young teenagers in Norway these past few days would have been a sufficient tragedy to send a warning signal of what can happen when suspicion and divi sion is built up in a community. Such an atmosphere can inspire one madman to destroy a nations whole way of life. Seventy-six people most of them teenagers were killed in Oslo last week because of one mans fear that Islam threatened Europes Christian culture. Anders Hering Breivik, himself a young man, was against his countrys multiculturalism, which he believed enabled the ongoing Islamic colonisation of Europe. And so he wrote a 1,500 page treaties on his beliefs, pleaded not guilty to committing any crime, and almost gloated over the killings, because as a self-proclaimed Christian nationalist he believed it his duty to recreate a Knights Templar in Europe to fight a holy war against Islam. This bizarre behaviour is usually the end game in an atmosphere of hate and suspicion that can send evil sparks flying in a madmans fevered brain. One only has to read history to understand the underlying racial hatred that has sparked centuries of unrest and most of this worlds wars. Mr McCartney, founder of the Democratic National Alliance (DNA promises will be the next government, says that he will fight to change the countrys constitution so that children born here to illegal immigrants will not be eligible for cit izenship. If elected he will push for a refer endum to carry out his plans. Under the constitution, persons who are born in the Bahamas to illegal immigrants have the right to apply for citizenship between their 18th and 19th birthdays. We agree with former PLP cabinet minister George Smith who accused Mr McCartney of trying to pander to the xenophobia of many Bahamians who want to blame some of our social ills on people who by virtue of their circumstances find themselves in the Bahamas illegally. And warned Mr Smith: Political leaders should never pander to ignorance and peo ple who are motivated by fear and this is probably what Mr McCartney is doing. We agree with Mr Smith. We also agree with retired Anglican Archbishop Drexel Gomez who sees Mr McCartneys final solution for Haitian children as inhumane. I cannot understand anyone who is going to seek leadership in this country who is not going to deal with the situation in a humanitarian way, said the Archbishop. And it is true what the Archbishop says. This country does owe much to immigrants. Many immigrants teachers, policemen, doctors and nurses helped build the Bahamas. Many of them came as immigrants from other Caribbean islands and never forget: our first black member of parliament was a Haitian. As the Archbishop pointed out these chil dren up to the age of 18 have known no oth er home. They speak our language, they belong to our culture, their friends are Bahamian. As far as they are concerned they are also Bahamian. At the age of 18 are they to be thrown into a world that they do not know, because of the myopic prejudice of Bahami ans who just a few generations before were also foreigners in a foreign land? Many of the forebears of our present Bahamians were not even born here, yet they became one with us flesh of the same flesh and put much effort into the building of this nation. What none of us must forget is at some stage or another and this includes Mr McCartney our forebears were strangers in a foreign land. Today we are all Bahamians. Were our forebears more humane than we are today? Yes, the Haitian question is a troubling one, but Mr McCartneys solution lacks humanity. It is not the right way to go, and if through this election he builds up an even greater foreign phobia, future generations will not bless his name for lighting a spark that allowed hatred to spiral out of control. Come forward and step up to the plate LETTERS firstname.lastname@example.org McCartney panders to Bahamians base emotions Check Out These Great Values TRADE-INS ON NEW CAR SALES ACCEPTEDOPEN: Mon to Fri 8:30am 5:30pm Sat 8:30am 12:30pmQuality Auto SalesPRE-OWNED CARS and TRUCKS2006 CHEVY, EPICA 2006 HONDA, ACCORD 2006 HYUNDAI, TUCSON 2003 MITSUBISHI, LANCER 2005 HYUNDAI, SANTA FE 2001 MAZDA, MPV 1991 HONDA, ACCORD 1998 FORD, EXPLORER 2001 FORD, TAURUS 2000 HYUNDAI, ELANTRA 2000 DODGE, NEON 2000 TOYOTA, YARIS 2006 HYUNDAI, H1 1999 MITSUBISHI, LANCER 1996 NISSAN, PERSEA 1992 TOYOTA, COROLLA 1997 CHEVY, CAVALIER 1999 CHRYSLER, DAIMLER 2001 FORD, ESCORT E DITOR, The Tribune. PLEASE ALLOWme this opportunity to air my concern about a situation in the hoteli ndustry which I believe is not widely known to most members. The President of The Bahamas Hotel C atering and Allied Workers Union has gone on record as saying that she is concerned about all workers, particularly female workers and will do all to ensure that the rights of all persons are maintained. How then is it, two years later, former employees (two of whom are females) of the said union have yet to be paid monies owed to them, including vacation pay? How is it, no attempt was even made by the present executive team to contact the for mer employees to resolve the matter? Why is it, after giving years of long, dedicated and loyal service to the organization, that former e mployees who are also members will now have to resort to court action in order to get from the union what is rightfully their due? I know if this was to happen to any member e mployed in any hotel, Madam President will be using all of the newspaper/media and any other means at her disposal to resolve the sit u ation. I would therefore truly like to know why, in the case of these former workers, there is a difference, even discrimintaion, in the manner in which these persons are being treated. Based on the Presidents position when she came into office, I expected a higher standard of behaviour and as a female myself, I am most disappointed. CONCERNED HOTEL WORKER UNION MEMBER Nassau, June 22, 2011 F ormer hotel union staff yet to be paid EDITOR, The Tribune. THIS LETTERis dedicated to the memory of Branville McCartney, because that is all he will be after the election (whenever it is called). Forty years of political experience tells me you have committed political suicide by listening to the echoes round you because thats all they are, if you dont believe me ask Dr. Bernard Not tage. He heard the same echo back in the day. See what he had to do? The same thing his buddy Perry Christie did, swim in his vomit. I hope you are cool with Dr. Duane Sands and company (Laing, Bethel, Fawkes etc.) and you are a good swimmer. Speaking of Dr. Sands, you are looking great in Elizabeth. Keep up the good work! Senator today, definitely Member of Parliament tomorrow, who knows the next day as they say The sky is the limit my brother. No offence PAPA. COMRADE DAVID THOMPSON Nassau, July 2011. OMMITTING POLITICAL SUICIDE
B y NOELLE NICOLLS T ribune Staff Reporter email@example.com A PROPOSED code of ethics for customs and immigration officers contains clauses that impeach t he constitutional rights of staff, claimed the new bargaining agent for then ations border employees. The newly-formed B ahamas Customs Immigration and Allied Workers Union (BCIAWUt he government on notice, w arning union members would not sign the pro posed code of ethics with o ut amendments. U nion leaders confirmed they were not happy with the existing document, but they would not discuss it in detail, stating they had not received an official copy from the government asy et. There are a lot of issues w ith the code of conduct that we need to address, i ssues which impeach our constitutional rights. Those i ssues we are going to go t hrough one by one. We are not going to discuss it in a ny great detail with you. We are not going to move f orward with it until we secure an official copy from the government, said C oderro Edgecombe, Sergeant at Arms. T ribune s ources claim the p roposed code of ethics has explicit clauses that limita workers right to freedom of association and freedomo f speech. The code, for example, limits the rights of uni f ormed staff to have any form of political affiliation, claimed a source. Also, a worker could be dismissedo n the grounds of having a p olitical affiliation. General Orders is somew hat vague, and would not prevent workers from a ttending political rallies, but it would restrict them f rom getting on a platform a nd speaking, said a source. Mr Edgecombe said the u nion did not have a problem with the initiative itself, a s it sought to regularise customs services to bring them in line with internat ional standards. However, he maintained some of thec lauses are questionable. C ustoms officers were introduced to the new code over the past four months during a department widet raining for the new Customs Management Act. The Customs Modernisa t ion Committee spearheaded the training, according to union officials. They plan to submit a for-m al request for a copy of t he code. Staff were trained in the c ode of ethics. They were able to view it, but they w ere not able to take copies. No one has been a sked to sign it as yet, but it h as been implied that it will be given to staff to sign, a nd if it is not signed they are going to deploy you to a nother organisation, said Mr Edgecombe. By LAMECH JOHNSON A RESIDENT of Nassau and Dean Streets went before the Magistrates Court facinga rape charge yesterday afternoon. Douglas Edey, 26, appeared before Magistrate Carolyn Vogt-Evans in Court 6, Parliament Street, to be charged with raping a woman on Monday, July 4. The accused was on bail in connection with other matters when the incident is alleged to have occurred. Edey was not required to enter a plea and was remand ed to prison until his bail hearing on September 12. By that time, the prosecution will make a decision on whether they wish to present a Voluntary Bill of Indictment transferring the case to the Supreme Court, or a prelimi nary inquiry to determine if enough evidence exists for a Supreme Court trial. LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 29, 2011, PAGE 5 By NOELLE NICOLLS T ribune Staff Reporter firstname.lastname@example.org THE Bahamas Customs Immigration and Allied Workers Union was certified by the Ministry of Labour this week, making it an official bargaining agent. The union will represent the 1,140 workers employed by the customs and immig ration departments, although to date, only 584 workers are registered members. Members of the executive called it an historic day for the labour movement. For years we have been represented by the Bahamas Public Service Union (BPSU had, it was clear the workers wanted a different level of representation one that is apolitical, one that is focused and one that is specific to their needs. So what you see here is the culmination of that process, said Sloane Smith, BCIAWU vice president. Union executives said they are looking forward to forging a relationship with the executive management at customs and immigration. They said the union is not interested in an antagonistic relationship; rather, it wishes to work together to increase government revenues through collections and enhance the protection of the countrys borders. The process will not be without its challenges however. Union officials claim the executive management has given it the cold shoulder in the past, and at times has even participated in intimidation and victimisation tactics. Even though they have treated us as rejects, we just want to say, we are not going to hold it against you, we are going to sit down and allow ourselves to heal and get to the business of the country; ensuring our constitution is upheld, revenues are collected and our borders are protected, said Coderro Edgecombe, Sergeant at Arms. One of the top priorities for the union will be securing medical coverage for clerical workers such as cashiers and registrars. In the departments of customs and immigration, clerical workers have not had access to the same benefits as uniformed workers, said union executives, and their issues had never before been represented. The reality is this: the process seemed to have treated them as second class citizens. We are here to say, they are not second class citizens at all. They stand shoulder to shoulder with us and we are here to ensure all of the rights and privileges that come to us as uniformed officers come to them as well, said Mr Smith. Asked about the relationship with the old representatives at the BPSU, Mr Smith said: The simply truth is this, it is what it is. We have moved on. The marriage is over. The divorce is settled. The ancillary matters have even been divided. What I would say is that BPSU is not one individual. There are thousands of people in that body that deserve to be properly represented. They have elections coming up and hopefully they will follow suite and salvage a beautiful entity that is designed to represent the workers. That is all I will say on that one. By LAMECH JOHNSON THE arraignment of a man accused of having sex with an underage girl was adjourned to next month. Kzeno Kevin Kemp, 36, of Whitaker Avenue, Millers H eights appeared in Magistrates Court to face the charge t hat he had unlawful sex with a girl under the age of 16 s ometime between 2006 and June 2010, according to court dockets. However, the matter was adjourned due to the absence of Magistrate Carolita Bethel of Court 8. There are eight witnesses listed on court dockets. Kemp remains on bail until August 15. ALLEGED UNLAWFUL SEX CASE ADJOURNED BAHAMAS CUSTOMS IMMIGRATION & ALLIED WORKERS UNION CERTIFIED ANHISTORICDAYFORTHELABOURMOVEMENT PROPOSED CODE OF ETHICS CLAUSES IMPEACH STAFFS CONSTITUTIONAL RIGHT MAN INCOURTON RAPE CHARGE DOUGLAS EDEY, 26 hides his face from the camera after leaving Court 6 where he was charged with rape of a woman on July 4. U NION MEMBERS WONTSIGN WITHOUTAMENDMENTS F F r r o o m m J J u u l l y y 1 1 5 5 , a a f f t t e e r r t t h h e e p p o o l l l l w w e e h h a a d d , i i t t w w a a s s c c l l e e a a r r t t h h e e w w o o r r k k e e r r s s w w a a n n t t e e d d a a d d i i f f f f e e r r e e n n t t l l e e v v e e l l o o f f r r e e p p r r e e s s e e n n t t a a t t i i o o n n o o n n e e t t h h a a t t i i s s a a p p o o l l i i t t i i c c a a l l , o o n n e e t t h h a a t t i i s s f f o o c c u u s s e e d d a a n n d d o o n n e e t t h h a a t t i i s s s s p p e e c c i i f f i i c c t t o o t t h h e e i i r r n n e e e e d d s s . S S o o w w h h a a t t y y o o u u s s e e e e h h e e r r e e i i s s t t h h e e c c u u l l m m i i n n a a t t i i o o n n o o f f t t h h a a t t p p r r o o c c e e s s s s . Sloane Smith, BCIAWU vice president
T HE Bahamas Summer Music Camp and Mentoring Programme wants to help young Bahamians exchange the world of troubles they often face with a fulfilling journey inspired by music. Considered by many to be the most prestigious music camp in the country, the BSMMP has a dded a new programme in this its fourth year. The Rhythms of Africa is a programme geared towards young drummers who participate in Junior Junkanoo. The drumming s essions will take the students on a musical odyssey from Nigeria to Ghana, through the Ivory Coast and North Africa, across the Atlantic to Brasil, Cuba, New Orleans, Jamaica and Trinidad, culminating in the Bahamas. The camp covers a broad spectrum of musical disciplines includi ng instruction on various instruments, vocal coaching, music theory, understanding music harmony, and taking jazz ensemble direction. There are also career works hops to prepare students for the professional world of music, including management, marketing, booking, recording, packaging, and the difference between a record label and an independent label. Improvisation workshops help build confidence and character as t he students rise to new heights with student jam sessions and group performances. The camp is for students between the ages of 12 to 21 but will consider younger music enthusiasts. All participants should have some experience with instruments. The camp will be held from Monday, July 25, to Friday, August 5. More information can be found at: email@example.com. By DENISE MAYCOCK Tribune Freeport Reporter firstname.lastname@example.org FREEPORT Sixteen high school students on G rand Bahama were awarde d cash scholarships for out s tanding achievement in acad emics, sports, and humanit arian service on Wednesday. A sue Draw, a web caf company, made presentations of $500 and $1,000 to the recipients at its first annual Outstanding Achievers Award ceremony and lun cheon at Maryanns Restau-r ant. Scott Miller, island man ager and scholarship comm ittee chairman, said the e stablishment of a $50,000 fund was provided by the Partners of Asue Draw to assist deserving Bahamians tudents. The award is intended to h elp with purchasing school m aterials/supplies, uniforms, b ooks, and to pay for other school-related fees ande xpenses. Asue Draw is constantly looking at ways to give back to the Bahamian community, and today we are living up to our pledge to give $50,000 to Bahamian students, said Mr Miller. Education is in need of a s hot in the arm in the Bahamas, and we decided t hat we will give cash awards t o outstanding achievers. M r Miller said they received applications from many students in theB ahamas. In order to qualify, applicants were required to have aG PA of 3.0 and to submit reference letters. They were also required to write and submit a 500 word essay on h ow they intended to use the a ward to better themselves w hile positively impacting the community. A fter reviewing all of the a pplications, 16 students were selected from Grand Bahama, and eight were selected from New Providence. Kim McIntosh, human resource manager, said $ 1,000 was awarded to priv ate school recipients, and $500 to those recipients a ttending public schools. We want to give back to t he community and we want to build a better community, and what better way thant o assist the youth. Asue Draw is supported by the entire Bahamas andi t is our way of giving back, to ease the burden of parents who are always sup porting us, McIntosh said. M r Miller said Asue Draw o perates various web cafes in Freeport and the Family Islands. The proceeds that are earned from customers, he said, will be used to benefit the community, in areas sucha s education. He stressed that the busi nesses, social clubs, and the community all need to step in and do their part, no matter how small, to assist in the education of young people. Mr Miller was very i mpressed with the essays t hat were submitted by the s tudents. We had such interesting e ssays from the students, and I believe if they can live up to their word (in those essays we will have a better country, he added. Mr Miller said the $50,000 pledge that Asue Draw is making will ensure that the b est and brightest students g et a chance to attend the private school of their choice, o r in the case of government s chool recipients, to afford t he necessary supplementary materials, books, uniform, and to pay for national exam i nations they will undertake at the end of the school year. T he recipients in Grand Bahama are: Jordan Bartlett, Latess Bartlett, Delisa Coop er, Theronique Cooper, T yrone Davis, Avedis Ferg uson, McDonald JeanLouis, Trevor Johnson Jr, Kenisha Knowles, Courtney Martin, J'Nelle Moss, Rickell Munnings, Aiko Pyfrom, Paige Rolle, J'Nya Seymour, Kyra Weech. T he recipients for New Providence are: Christopher Fernander, Rhavae Forbes, Ariel Kirlew, Diamond Pearson, Anfrenee Pratt, Judyi Smith, Perresha Sweeting, and Maraisha Thompson. LOCAL NEWS PAGE 6, FRIDAY, JULY 29, 2011 THE TRIBUNE OUTSTANDING GB STUDENTS RECEIVE CASH SCHOLARSHIPS P RESENTATIONSMADEATAWARDCEREMONYANDLUNCHEON B B A A H H A A M M A A S S S S U U M M M M E E R R M M U U S S I I C C C C A A M M P P A A N N D D M M E E N N T T O O R R I I N N G G P P R R O O G G R R A A M M M M E E
LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 29, 2011, PAGE 7 By CELESTE NIXON Tribune Staff Reporter email@example.com PROSTATE cancer the silent killer of Bahamian men will again be the targetof the fundraising effort Cruise to the Cure. In a press conference yesterday at Doctors Hospital, the Friends of Distinction Riders Club (FODRC Auto Club of the Bahamas (AACB announced that they will be coming together for the second annual Cruise to the Cure (CTTC Society of the Bahamas. The main focus of the effort is a car and motorcycle solidarity tour around New Providence, and while there will be a large number of vintage and collectable vehicles on display, the organisers say ordinary cars are more than welcome. Dwain Wallace, co-organiser for CTTC, said the primary focus of this years cam paign will be increasing awareness of cancer among men, in particular prostate cancer. Putting into perspective how many lives are taken by the disease, Mr Wallace said that while the murder count in the Bahamas has just exceeded 80 the major ity of victims men who died from gunshot wounds prostate cancer is a silent killer, probably ending the lives of 80 men every two to three months. He said: Prostate cancer is stealing many of our brothers at the stage of their lives when they should function as an asset to their families and thereby the country asa whole. By the time a man associates pain with cancer, it is usually too late. This year, Doctors Hospital will again be joining the front lines in the fight for cancer by providing special concessionary screening rates for early detection testing, said Mr Wallace. Charles Sealy, CEO of Doctors Hospital, said it is a major problem that only 2,000 men are screened on an annual basis. He said the numbers are probably so low because of the stigma that surrounds prostate cancer. There is a whole macho image that they believe will get tarnished when they get tested, the beauty of the programme is that we are doing a PSA test which is a blood test, said Mr Sealy. Mr Wallace said: This initiative is a key element in the process, permitting and encouraging those who would ordinarily not be able to afford such a screening, to now participate in this special promotion at Doctors Hospital. According to Us Too, a prostate cancer education and support group, 91 per cent of prostate cancer cases are detected in stage one or two with an 100 per cent five year survival rate. Early detection, monitoring and treatment is essential to preventing cancer from spreading to neighboring organs, said Us Too chapter leader Valentine Maura. The event will take place on Sunday September 18. All participants will meet at the Kellys Home Centre entrance at the Mall of Marathon. Registration begins at 9am. Each participant is required to declare a rate of sponsorship per mile for the 50 mile course. The tour will leave the mall at 12.30pm. The Friends of Distinction Riders Club and the Antique Auto Club of the Bahamas invited the entire community to join them to cruise the streets of New Providence and raise money for an important cause. Cancer survivors are especially encour aged to take part. CRUISETOTHE CURE: The fundraiser will include a car and motorcycle solidarity tour around New Providence.
LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 29, 2011, PAGE 9 said Mr Wilchcombe. The man who reportedly ordered the hit o n Mr Wilchcombe was convicted drug dealer Teron Fowler, who was recently found dead inside a burned car, Mr Wilchcombe confirmed. Fowler was a casino inspector at the time that Mr Wilchcombe served as Minister of T ourism with responsibility for the Gaming B oard. Mr Wilchcombe said Fowler was found to have taken photographs of a cage in the casino, a serious breach, and was subse-q uently fired. Fowler was also at the centre of the infamous Cabinet fight between former PLP K ennedy MP Kenyatta Gibson and then PLP M ount Moriah MP Keod Smith. Fowler spent time behind bars in the United States on charges of importing and a ttempting to distribute cocaine into that country. He was arrested in November 2007 on a sealed indictment dating back fromN ovember 2006. At the time of his arrest, he w as travelling on a fraudulent passport. Mr Wilchcombe said he did not know that Fowler was out of prison until he heard the n ews about his death. He said the news brought back memories of the 2007 assassination attempt and made him reflect. Fowler reportedly hired Grand Bahama resident Sylvano American Boy Yasmin to carry out the assassination. He too is dead.M r Wilchcombe said American Boy was k nown to be involved in criminal activities. M r Wilchcombe said he was alerted to the matter in 2007 by the Ministry of National S ecurity, who indicated his life was in danger based on a call intercepted by police officials. A t the time, Mr Wilchcombe was travelling t o Grand Bahama to speak at a Junkanoo related event. He said the police provided him with armed police guards. He said this is the first time he has really spoken about the matter. He said some of his strong supporters went to speak to American Boy and reported that he did not plan to carry out the hit. Neither of the men involved were charged w ith an offence related to the assassination attempt. Mr Wilchcombe said the authorities had the situation under control. I took it seriously, but I felt secure that however they were dealing with it, it was effective, said Mr Wilchcombe. taken to hospital in a private vehicle. According to sources, Paul and another man are accused of the murder of 62year-old Brendamae John-s on on September 10, 2010. He is also charged with the attempted murder of Burton Sands and Lathario Morley on the same day, andi s facing unlicensed firearm c harges as well. He is curr ently out on bail. According to police reports, Ferguson and Paul were sitting on a wall at the junction of Wellington Street and Baillou HillR oad, shortly before midn ight, when a dark blue Honda pulled up alongside them and the occupants started firing in their direction, reportedly using highp owered weapons. Ferguson fled after being hit and was found dead near his home six hours later by police. P aul is said to be in serious, but stable condition. D espite the reports, Fergusons sister claimed: "George Bertram Lamar Ferguson never hung outside. He wouldn't even standi n the doorway, he knew the neighbourhood was full ofv iolence. I just want to clarify that my brother was not a murderer and he was not related to the Paul guy who was alsos hot. He was just in the wrong place at the wrong time and it cost him his life," she said. The relative disputed police reports and said Ferguson was shot in his leg, not h is back. She said: "When we went t o the morgue he had a bullet hole in his back, not his leg. I guess he was trying to run when he heard the shots and couldnt get away int ime. The family is torn up a bout this. He is leaving behind a 10-year-old daughter. I want police to do their jobs and find the person that killedh im. My brother never got i nto any trouble. This was a tragic mistake. Police have not yet disclosed if they know of a motive for this latest killing,b ut sources within the force say they believe Paul was the intended target. Anyone with information regarding this murder are asked to contact police at 911 or 919, Crime Stoppers a t 328-TIPS or contact your nearest police station. W hile these numbers appear high, Dr Minn is said that less than 100 persons were r eported to have come into hospitals on W ednesday night, with less than 30 of them m eeting the criteria for dengue which sugg ests that the numbers are decreasing. Dr Minnis said the country must work together to bring the outbreak to an end. D uring a press conference at the Ministry of Health yesterday, Dr Minnis said many people are showing up to clinics because of fear of the disease, however the outbreak is m anageable and can be brought to an end if the government and the public work togeth er. This outbreak is manageable, and the r esources are available in both the Ministry of H ealth, the Ministry of the Environment and other governmental agencies and depart-m ents dengue fever is not endemic to the B ahamas, said Dr Minnis. Dr Minnis said dengue fever is a viral illness that is transmitted by the Aedes Aegypti mosquito. The recent rains have produced favourable breeding conditions for them. The Ministry of Health is currently monitoring persons who have dengue like sympt oms such as a high fever and two or more s ymptoms, including headaches, bone and joint pains, and eye pains, said Dr M innis. M ild symptoms can be easily man aged at home with supportive treatment, including bed rest, fluids to prevent dehydration andp ainkillers such as Tylenol or panadol for fever, headaches and joint and muscle pain,a spirin or motrin should not be used, said Mr Minnis. Consultant to the Ministry of Health Dr Perry Gomez said therea re four different types of the dengue v irus, type one is currently circulat ing the island and cannot develop into type two to four which are more serious and include the life-threatening haem orrhagic dengue fever. Encouraging persons to seek home remedies Dr Minnis said onlyw hen symptoms worsen should persons seek medical atten tion, using public clinics at Elizabeth Estates andF lamingo Gardens on Saturdays and Fleming Street and South Beach H ealth Care Centre on Sundays between the hours of 10am to 6pm. Clinics will resume normal operating hours on T uesday. In order to protect against mosquito bites the public should wear long sleeves and long p ants and avoid dark clothes during feeding t ime, mosquito repellent can also help prev ent bites, said Dr Minnis. D r Minnis said it is essential that the publ ic take preventative measures to stop the b reeding of mosquitoes and control the outbreak. He said "importantly, households can assist in controlling this outbreak by eliminating breeding sites through removal of all standing water in discarded cans, bottles, tyres and by draining water from planters." T he Department of Health Services are continuing fogging throughout New Provi dence and the Family Islands, said Dr Minnis.H e reminded the public to leave their wind ows open at the time of fogging for the i nsecticide to kill mosquitoes indoors. The Aedes Aegypti mosquito rests in dark, quiet places mostly indoors inr estrooms, bedrooms, kitchens, hiding in closets and under furniture and are most active during the daytime hours, said Dr Minnis. Dr Minnis added that wells should be properly maintained and covered to protect a gainst breeding a nd those persons who have to store water s hould do so in tightly secured containers. Outbreak of dengue fever appears to be slowing FROM page one D RHUBERTMINNIS FROM page one MPS LIFE WAS CHANGED AFTER ASSASSINATION THREAT F ROM page one MURDERED FATHER WAS A GOOD MAN
B y NEIL HARTNELL Tribune Business Editor THE BAHAMAS merc handise trade deficit i ncreased year-over-year by 6.02 per cent to $2.241 billion in 2010, data publishedb y the Department of Sta tistics has revealed, despite exports growing at a slightly higher rate than imports. T he merchandise trade deficit, which measures the difference between the Bahamas total exports ofp hysical goods and imports, rose in dollar terms by $127.3 million in 2010, growing from $2.114 billion to$ 2.241 billion. While the Bahamas total exports rose by $36.5 mil lion or 6.24 per cent, from $ 584.9 million to $621.4 million, total imports grew by 6.07 per cent growing from $ 2.699 billion in 2009 to $ 2.863 billion last year. The balance of trade continued to result in a deficit, the Department of Statistics report said. The trade balance between 2008 and 2009 showed a decrease of 16.4 per cent, resulting in a net trade balance of -$2.1 billion compared to $2.5 billion in 2008. However, the balance between 2009 and 2010 showed an increase of 6 per cent. None of this is surprising, given the high propensity of the Bahamas to import pretty much everything it consumes. The declining trade deficit between 2008-2009 showed the recession at work, as Bahamian con sumers and businesses cut back on spending, hence a corresponding reduction in imports. The 2010 year-over-year increases in both exports and imports could be signs of increasing demand for the former, and a recovery in consumer/business spending as the worst of the recession now seems behind the Bahamas. However, exports appear far closer than imports to reaching their pre-recession peak over the past five years. Between 2006-2010, exports peaked at $701.533 million in 2008 some $80 million more than last year. However, imports, at $2.863 billion, were well below the $3.104 billion and $3.23 billion levels achieved in 2007 and 2008. And the trade deficit is also between $200-$300 million below lev els seen in 2006-2008. The Department of Sta tistics report showed that mineral fuels were the largest import category in 2010, accounting for $687.1 million or 24 per cent of thet otal. Their contribution rose by 23.3 per cent over 2009. Food and live animal i mports, including fresh meats, fruits and vegetables and processed foods, grew by 2.1 per cent to accountf or $426.6 million or 14.9 per cent of total imports. However, machinery and t ransport equipment, and manufactured goods imports, both fell by 6.6 per cent and 4.4 per cent year-o ver-year, respectively. The f ormer accounted for $493.9 million, or 17.2 per cent of total imports, and the latter$ 377 million or 13.2 per cent. $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.25 $5.39 $5.22 T HETRIBUNE SECTIONB firstname.lastname@example.orgFRIDAY, JULY 29, 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 E-GOVERNMENT PL A TFORM TO BOOST REVENUE By NEIL HARTNELL Tribune Business E ditor INCREASINGthe m inimum wage in a d epressed economy is n ot a good idea, a Bahamas Chamber of Commerce and Employers Confederation( BCCEC) director told Tribune Business, fearing it would result in busi n esses laying-off certain categories of workers. Brian Nutt, who chairs the BCCEC's employeea nd labour relations divis ion, commenting on the Progressive Liberal Par tys (PLP t he private sector mini mum wage from $150 per week to $210 it was reelected to government,u rged the party to go for a much smaller 10 per cent increase if intended to follow through, rathert han the proposed 40 per cent rise. However, Mr Nutt, w ho headed the Bahamas E mployers Confederat ion (BECon merger with the Bahamas Chamber of Commerce, agreed that it would be reasonable to index-link increases in the minimum wage to the prevailing inflation rate, so that employee wages are not eroded by sustained cost of living increases. Here, he found himself in agreement with trade union leader Obie Ferguson. And Mr Nutt and the Trades Union Con gress (TUC also agreed that the current $150 minimum wageper week was not enough for a person to live on, the latter arguing it could not preventa person and their fam ily from existing in poverty. In an interview with Tribune Business, Mr By NEIL HARTNELL Tribune Business Editor T HEBahamas Oil Refining Comp anys (BORCO longer term opportunity to double the Grand Bahama-based facilitys existing 21.6 million barrel storage c apacity, with its existing $350-$400 m illion project on target to complete i n the 2012 second half. I n a presentation to conferences o rganised by Swiss bank UBS, New Y ork Stock Exchange (NYSE Buckeye Partners remained upbeat on its new $1.7 billion acquisition, noting that BORCOs existing storage capacity was fully contracted, with current demand levels well in excess of available capacity. M ost clients of the Grand B ahama-based facility were transnational and national oil companies, w ho were locked into three-five year c ontracts, Buckeye said. Some 80 per cent of BORCOs revenues came from storage contracts, with 11 per cent generated by ship b erthing, and the remaining 9 per c ent from ancillary services such as b lending, bunkering and transshipm ent. A mid a high likelihood of cont ract renewals by its existing customer base, Buckeye said some 10.2 million barrels of storage capacitya t BORCO was taken by major international oil companies. Another 4.3 million barrels was occupied by national oil companies, w ith 3.8 million barrels worth of capacity taken by energy trading f irms and 2.5 million by energy companies. Billing BORCO as the fourth largest petroleum products termin al in the world, Buckeye said the f irst phase of its immediate-term e xpansion would add 3.5 million barr els of storage capacity. T his had been initiated in the seco nd quarter of 2011, with the first incremental capacity expected to be online in the second half of 2012. As econd phase, which will add another 4.4 million barrels of storage capacity, is expected to start later, taking the additions to 7.9 million b arrels. The project is expected to require an $350-$400 million investment, and generate an extra $70-$80 million in annual operating income for BORCO. And, looking to the future, there was room to double existing storage capacity. B uckeye also told the UBS conf erence that fuel oil accounted for 6 4 per cent of BORCOs stored products, with crude oil at 23 per cent. BORCO is strategically positioned to act as a hub in facilitating international logistics and trade for bulk build, break-bulk and blending o perations, Buckeye said, noting t hat it exported product to China a nd Singapore, and received from a s far away as India. B ORCOs 100 per cent owner also n oted that that facility was 80 miles from south Florida, and 920 miles from New York, with deepwater access of up to 91 feet for tankers. B y NEIL HARTNELL T ribune Business E ditor THEnewly-launched $10.2 million e-government platform must deliver on business community expectations and timelines, the Bahamas Chamber of Commerce and Employers Confederations (BCCEC chairman said yesterday, adding that it could havea tremendous impact for s mall and medium-sized c ompanies. Acknowledging that the o nline delivery of governm ent services was the way of the future and the Bahamas should have reached this point long before, Winston Rolle told Tribune Business the move c ould still have a very d ynamic effect on the economy. T he expected efficiency By NEIL HARTNELL Tribune Business Editor THE GOVERNMENTS newly-launched $10.2 million e-services platform will trans form the Bahamas into "a more business f riendly jurisdiction", the minister of state for finance said yesterday, with increased Treasury revenues among the "significant" potential benefits. $10.2m investment to create more business friendly jurisdiction* Hope for significant benefits and Ease of Doing Business ranking boost BENEFITS: Zhivargo Laing SEE page 4B TRADE DEFICIT UP 6% TO $2.241BN Bahamian exports grow at slightly higher rate than imports SEE page 4B E-GOVERNMENT MUST DELIVER Meeting business expectations and timelines key for $10.2m platform Potential dynamic economic impact, and tremendous for SMEs SEE page two BORCO capacity doubling target I nitial $350-$400m expansion on t arget, and still set to generate extra $ 70-$80m in annual operating income MINIMUM WAGE INCREASE NOT A GOOD IDEA BCCEC director warns it would result in increased lay-offs and grow costs for already stressed firms* Urges PLP to go for 10%, rather than 40%,r ise But agrees with union leader on $150 per week not being enough to avoid poverty BRIAN NUTT SEE page 4B
BySIMON COOPER R es Socius WHENI was planning this weeks article, I got to thinking about how some things never change. And how sharp the old folks were even in the days before we had computers. Take proverbs, for examp le, meaning those cultural t reasures we inherited. The t raditional saying: Waste Not, Want Not dates from 1772, although I gather it was derived from the much older Wilful Waste Makes Woeful Want that was first written down back in 1576. A lthough I had to look it u p myself, every Bahamian schoolchild ought to know t hat 1576 dates from somew here between when C hristopher Columbus first landed in the Bahamas, and when the original Eleuther a n Adventurers settled here. They should also be a ware that 1772 was 11 y ears before Spain ceded t he Bahamas to Britain. I am sure that both the l ocal inhabitants and the e arly settlers way back then would have been conscious of the need not to waste their scarce resourcesm, although that concept seems forgotten now, especially when I look at the stat istics behind Nassaus waste-disposal industry. Waste Not ,Want Not also seems to have escapedt he minds of many B ahamas business owners, too. In fact, I am horrified at what gets wasted here,p articularly as this inflates our cost of living. I wish I had a dollar for e very sale lost on our islands as a result of poori nventory control. While I m confident the original Eleutheran storeman would have remembered to pack the salt before leaving England, I sometimes wonder whether some managers even record sales lost t hought lack of stock. The s ame might be true of customers driven elsewhere t hrough shoddy service. In f act, I honestly believe we s hould take another look at these two things, before we start attacking somebodyf or bringing a laptop back with them from America. We should also not for get the positive impact that may follow from word-ofmouth marketing, although we should remember thatt he tongue can be a twoe dged sword when passing on negative feedback, too. These days I am half-i nclined to ask businessowners, who tell me that they are in Want, how many opportunities were Wasted by their firms, simply because nobody cared to respond to what their markets said. A classic case of Waste in b usiness is the debilitating c ulture that having too many employees creates. They not only cost money that no business can afford. They also work each othe rs motivational levels down by gossiping among themselves when there is l ittle else to do. Have I b ecome an old Scrooge (I j ust turned 43 the other d ay), or are there others out t here who also believe that o ne should turn every penny over twice? While I am in this mode of thought, Id also like to ask our government and city administrators the same question, too. Are you turni ng over every penny two t imes before you spend it, or could Wilful Waste M akes Woeful Want be happening on your parades, t oo? N B: Res Socius was founded by Simon Cooper i n 2009, and is a business brokerage authorised by the Bahamas InvestmentA uthority. He has extensive private and public S ME experience, and was formerly chief executive of a publicly traded invest ment company. He was a warded an MBA with distinction by Liverpool University in 2005. Con t act him on 636-8831 or w rite to email@example.com BUSINESS PAGE 2B, FRIDAY, JULY 29, 2011 THE TRIBUNE Businesses, Govt must recall aste Not, Want Not lesson improvements, he added, could help attract the new entrepreneurs to the Bahamas, stimulating growth in jobs, companies and economic activity by removing previous frustrations in obtaining necessary permits. Among the four Internet-based gove rnment services launched yesterday were o nline real property tax payments, customer service and vendor inquiries. The second is designed to enhance publ ic service responsiveness to private sector a nd citizen inquiries, and the latter is for b usinesses and entrepreneurs who provide goods and services to the Govern-m ent. System Detailing how that would work at the o fficial launch, Prime Minister Hubert I ngraham said: Each approved vendor w ill be given a Vendor ID. Using that I D, the vendor can enter a system in the T reasury which will inform the vendor of p ayments disbursed (cheques cut his/her business, and whether it is in the mail, awaiting collection at the Treasury, etc. This will do away with the constant need for vendors to check and follow up on payments with individual Ministries a nd Departments. Reacting to the Governments plans, Mr Rolle said the private sector now n eeded to see how the e-government platf orm worked in practice. The key thing is the delivery of services being offered through the system, he told Tribune Business. Now we have to see how he initial ser vice offering ties in with the pet peeves the business owner has the issues peopleh ave to deal with on a daily basis. W hich services were available, and effi ciency in delivering them were key. If all youre doing is filling in a form, the same person is sitting behind the screen tod eal with, and youre going through all the processes you do now, it may not be that effective, the BCCEC chairmana dded. Mr Rolle said that in its presentation yesterday, the Government had tried to set a level of expectation in terms of trans-a ction time, namely how long it would t ake to process each payment or applica tion once completed and received prop erly. Meeting these targets will be key in terms of satisfying private sector expectations. They set some expectations in terms of delivery timeframe, reiterated M r Rolle. The key thing is not only how they deliver it, but the expectations of the b usiness community in terms of turna round. He suggested that the Government, in c onjunction with the BCCEC and private s ector, should conduct an assessment of t he e-government platform in two months t ime to determine user experiences, and s ee whether expectations and needs were b eing met. A similar exercise could also be undertaken six-nine months from now, to determine what adjustments need to be made. Praising the Government for dedicati ng enough resources to the platform to transform a 12-18 month project into one t hat took just six months, Mr Rolle added: Now weve got to ensure we deliver on the expectations such a platform and m aintain it, which is always a problem h ere. V irtues Still, extolling the virtues of e-government, Mr Rolle said it might enable own ers of small and medium-sized businesses, who currently might be taken away from their companies for half a day to deal with Business Licence applications and p ayments, to now complete the process online in 10-15 minutes. The impact could be tremendous for s mall and medium-sized businesses, Mr R olle told Tribune Business. Its the way of the future. We really should have been further ahead, but as they say, nothing comesb efore its time. The new entrepreneurs of the world conduct business in a different way fromt he old ways of doing things, so if we are to foster an environment in which they start and grow businesses successfully, we in turn need to foster the mechanismst hat allow them to do so. If they go through the old way that has frustration and delay, it frustrates businesses from getting started, whereas ify ou can make it as easy as possible to start and grow their business, it can have a very dynamic effect on the economy. E-GOVERNMENT MUST DELIVER F ROM page one
By DENISE MAYCOCK Tribune Freeport Reporter firstname.lastname@example.org and NATARIO McKENZIE Tribune Business Reporter FREEPORT The Government yesterday said it was looking to dialogue with scrap metal dealers on ways to properly regulate the industry, as operators on Grand Bahama urged it to allow them to in a business that provides employment for hundreds of Bahamians. Acknowledging that the move to permanently ban copper exports was in response to increasing theft at major stateowned Corporations and the private sector, Phenton Neymour, minister of state for the environment, said: We have been impacted tremendously by vandals who have decided to break the law in terms of scavenging for scrap metal. Just this week we had an incident at Water and Sewerage, where someone stole a stop valve, resulting in a significant leak at the Prospect Ridge station. Mr Neymour said the Government was looking at additional processes to regulate the scrap metal industry. We are open to meeting with persons in the industry. We encourage them to assist the Government in identifying ways to regulate the industry moving forward, he added. Mr Neymour said he did not know to what extent Bahmian scrap metal operators and dealers were knowingly involved in the trade of stolen copper, but said that determining the origin of material being resold was an area the Government was looking to tighten up. But with containers ready for shipment still sitting at Freeport Container Port, Grand Bahama-based scrap metal dealers are appealing to government officials to lift the 90day temporary ban on other forms of scrap metal, and the permanent ban on copper, being exported from the Bahamas. About 50 scrap metal dealers, along with their employ ees, gathered at Burger Kingon the Mall yesterday to express their concern. Troy Garvey, a community activist, said there were about five legitimate recycling companies operating on Grand Bahama, which provide employment for many people. There are questions that we would like to ask the Governm ent: Who is going to pay these employees while the 90 days are in effect? Who is going to pay for those containers to be off loaded at the port? he asked. Mr Garvey said none of the recycling operators were noti f ied by the Government before its decision was taken. It is very disrespectful for business people to be treated this way because of a handful of bad people, he added. Ted Russell, of Five Star Recycling, said they have containers sitting on the dock waiti ng to be shipped. We are just asking governm ent to be lenient towards us and lift the ban. I have a con tainer that is already cleared to be exported, but since they put the ban on yesterday they are not able to export it, he said. Scrap metal dealers have b een advised by shipping companies that they must offload t heir containers. They say this will cost them more money. Mr Russell, who employs 15 full-time workers, said the 90day ban will significantly affect his business and his workers. We are trying to run legitimate businesses. We do not condone scrap metal or copper thefts, and we work hand in hand with law enforcement, he added. There has been an ongoing problem of copper theft on Grand Bahama, where a number of major companies are being targeted by thieves. Last week, Grand Bahama Power Companys substation on West Atlantic Drive was robbed of some 200 feet of ground cooper wire, resulting in $35,000 worth of repairs. Mr Russell is urging individuals who are stealing to stop. We want to appeal to those persons to discontinue, and at the same time we are asking government to be understanding and to revisit their decision and allow us to continue with the business we are doing. Travis Hall, operator of Presto Recycling, employs about 30 workers. We are our doing our part, and we are contributing to the Grand Bahama economy and paying national insurance for our workers, he said. Since the hurricanes scrap metal has become a very intricate part of Grand Bahamian lives. But, they closed the door in our face and it was disrespectful. Mr Hall said they have assisted the police in prosecuting individuals. He added that they have cameras at their businesses, and they require people to bring a valid ID, which is filed along with documentation of the transaction for goods received. This decision will put us out of business, he said. Dennis Deleveaux, of GB International Trading Company in Eight Mile Rock, said to offload a container would cost them twice as much profit as they make on a container. So actually they are taking money out of our mouths. Scrap metal helps to pay mortgages, water and power bills and school fees. So this decision will cause a domino effect in the community, he said. Mr Deleveaux said it was unfair to punish an entire industry because of a few bad peo ple. We cant make a whole industry suffer because of a few bad apples, he added. The Government wont shut down the police depart ment because they have bad police officers, and they are not going to stop politics because of bad politicians, so why are we being singled out with no warning or grace period? Mr Deleveaux noted that Cash for Gold businesses, and illegal number houses, were still operating. He added that the recycling companies are cleaning up the Bahamas at no cost to the Government.They are putting a noose around necks; we are just asking them to give us a chance, Mr Deleveaux said. Jah Shilol, of Inity is Strength Movement, said scrap metal gave hope to a lot of unemployed people in Grand Bahama. This ban will take money out of the hands of the poor and will cause crime to increase, he said. Alfred Sweeting, also known as Purple, said the money he made from scrap metal paid his rent and bills. These time dread and a lot of people are trying to make a living. The Government should reconsider the decision because but things are slow in Freeport, he said. BUSINESS T HE TRIBUNE FRIDAY, JULY 29, 2011, PAGE 3B SCRAP METAL DEALERS: PLEASE RECONSIDER BAN BTC s $1m EZTop marketing spend CITY MARKETS WORKERS COPING ON 24 HOURS By NATARIO McKENZIE Tribune Business Reporter The Bahamas Telecommunications Company (BTC in marketing suport over the next 12 months to support distribution of its prepaid EZTop-Up cell phone minutes, describing the reduction in wholesaler commission rates as "necessary" to bring them in line with industry norms. Marlon Johnson, BTCs vice-president of sales marketing, said it was intended to put the com panys main revenue source on a proper cost footing and help it remain competitive in the long-run. While not going into the specifics of the commission rate decrease, Mr Johnson said it was still higher than most countries not only in the Caribbean but in the world. It is a necessary adjustment because we do have to gain the kind of efficiencies to help us to do a lot of the things that we intend to do, he added. Our commission rates structure is still higher than most other jurisdictions in the region and in the world, so we still end up paying out more to the wholesaler and retailer than is the regional norm. Our goal is to grow the pie. We have been meeting with the wholesalers for two months. "Naturally when you move someone's commission, people aren't going to be happy. What we have done is advise them that we are bringing the company in line with regional standards, and that we are doing something that will ultimately help support them and create more opportunities for them down the road. Mr Johnson said the new arrangement with the retailers will set out some "key performance indicators, although he did to go into details. This is one part of a much broader aim get on proper footing to generate much better cost efficiencies, Mr Johnson said. If the company is to be competitive in the face of imminent competition on land-line and mobile services, we have to get the efficiencies together. What this will enable us to do is it helps us to underwrite the promotions that we intend to do; underwrite the elimination of the long distance fees for customers inter-island; the costs of our rate reductions between now and the end of the year and adjusting the packages. We have to get BTC on a proper cost footing to enable us to fulfill the promise of doing something with the rates. BTC this week launched its EZTopUp Sys tem, a fundamental restructuring of its distribution channels for its pre-paid cellular business, its largest revenue stream. Mr Johnson was unable to say how much the launch of this technology has cost the company. BTC, under the direction of new 51 per cent majority owner Cable & Wireless Communica tions (CWC exert greater control over the business, combining this with a focus on customer service to drive Bahamians to the store-based EZTop-Up tech nology and away from street vendors. It is projecting that within two years that 80 per cent of pre-paid cellular minutes will come from electronic sales. P HENTON NEYMOUR minister of state for the environment By NATARIO McKENZIE Tribune Business Reporter THE trade union head rep resenting nearly 400 City Markets employees said yesterday that workers had been "coping" with the chains 24 hour service offering, although shift changes within that work schedule have proven to be "difficult. Elgin Douglas, president of the Bahamas Commercial Stores, Supermarket and Warehouse Union, told Tri bune Business: "The employees weren't taking it too good, but what we did was we put something in place a 10pm to 6am shift. That was going fairly well until they changed it midstream and put in a 9pm to 6am shift, four nights a week. It used to be one night, now it's four nights. That's the difficulty we had. We coped with it because we came to realise that that is what they want, but the changes to the four nights out of the week is the problem with us. Mr Douglas added: These people have families, and while I understand that they're trying to save jobs, it's very tough. If I have a babysitter and I have to pay a baby-sitter $200 dollars a week, and that's all I make, then it doesn't make any sense for me to be going to work. We had an agreement for 10 am to 6pm one night out of the week, all the rest was days. But now in Cable Beach they have put on four nights. We hadn't agreed to that because that's too many nights in the week for people to leave their family when we agreed to something and they didnt come back to us.
Nutt said he could instantly think of two worker cate g ories where job security m ight instantly be impacted by a minimum wage increase. These included a child carer, employed by a hus b and and wife who both w orked. Any increase, he suggested, might make it uneconomic for the couplet o continue employing the child carer. And then there was the live-in maid, as the labourl egislation passed in 2001 m eant that employees could no longer be paid in-kind, such as room and board.L ive-in maids now have to be paid a wage, and a mini mum wage rise could simply make it unfeasible for a homeowner to continue employing them. Its a situation where, from a social point of view, it may sound great to increase the minimum wage, but there are certain cate gories of worker where employment will reduce, Mr Nutt told Tribune Business. Going from $150 to $210 a week, thats a hefty jump. Thats not a 10 per cent increase; its a 40 per cent increase. That becomes something that, in my mind, my view is quite substantial. The PLP unveiled plans to increase the minimum wage, should it win the Government, at its Eastern Con clave last weekend. When asked by Tribune Business whether such an increase would further add to the burdens of already-strug gling businesses, and might result in increased unemployment, Mr Nutt replied: That is correct. And, when asked if it was the wrong time to be con templating such action, giv en that it would expand company cost bases in a recession, he added: That is very true. Exactly. If there was to be an increase at this time, which I think is not a good idea, the increase should be much lower. It should be based on a 10 per cent increase, not a 40 per cent increase. The PLP plan is to bring the private sector minimum wage in line with that for public servants, and Mr Nutt conceded that the International Monetary Fund (IMF ernment to do that when the minimum wage was first leg islated, then implemented, i n 2001-2002. That should not have been; the minimum wage should have been established for all, he added. But because taxpayer money is involved, they are paying more to civil servants than persons achieving the minimum wage in the private sector, and that should never have happened. As for Mr Ferguson, he said Bahamian trade unions would prefer the minimum wage to be doubled to $300, but would settle for the increase planned by the PLP. Anything better than $150 we would support, he said. Ideally, we would prefer it was $300, as opposed to $210. Certainly, $210 is better than $150. The $150, in our view, is inadequate and is not a safety net as it relates to poverty. The average person, if you have a household of three, and only one person is working at the minimum wage, it is very difficult for them to live a decent life. $150 is inadequate; weve always said that publicly. Mr Nutt agreed, telling Tribune Business: In my view, it [$150] is not enough for a person to live on, but is something that means several people have to come together to rent an apart ment and house, in order to have things like that. Meanwhile, Mr Ferguson also urged that the minimum wage be indexed to inflation, adding: The cost of living has gone up. The dollar does not have the same value as it had. Every thing, the cost of electricity, the cost of the phone, has gone up. BUSINESS PAGE 4B, FRIDAY, JULY 29, 2011 THE TRIBUNE ,17(51$7,21$/%86,1(66&203$1,(6$&7 +(5$/',17(51$7,21$//7' Q 9ROXQWDU\OLTXLGDWLRQ 1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWK 6 HFWLRQRIWKH,QWHUQDWLRQDO%XVLQHVV & RPSDQLHV$FWRI + (5$/' ,17(51$7,21$//7' LVLQ'LVVROXWLRQ 7 KHGDWHRIFRPPHQFHPHQWRIGLVVROXWLRQLVWKH %(+//$'t$/$<(*+ &KDUWHUHG$FFRXQWDQWV 8QLWHG$UDE(PLUDWHV /LTXLGDWRU Zhivargo Laing told Tribune Business that the ease of paying due taxes and fees online might encourage some b usinesses and entrepreneurs, who had previously baulked at putting payments in the mail or going to the relevant agencies, to now do so. "I think the benefits are significant, actually," Mr Laing said of the e-government platform, which launched yesterday, "because you're talking of benefits to be had for the general public from the ease of doing some transact ions over the computer, as opposed to having to go to some counter, go to some office and get in your car and d rive through traffic somewhere to do s o. They can do the same from their c omputer wherever they are in the country or the world." A sked whether the more efficient, c onvenient way to pay Business Licences and real property taxes, plus apply for work permits and renewals, could boost government revenues by encouraging businesses/entrepreneurs t o pay, Mr Laing replied: "I believe so in the end. "There's benefits to the Treasury, and it will ultimately improve revenue and economic activity, and make us a more business friendly jurisdiction." Through reducing, or eliminating, the n eed to stand in line to pay taxes or c omplete permit applications, business e fficiency and productivity should be e nhanced. P rime Minister Hubert Ingraham y esterday said the Government wanted to "change" the Bahamas' United Nations ranking of 65th out of 180nations when it came to e-government, while Mr Laing expressed hope that the platform's launch would result in a "significant improvement" in thisn ation's Ease of Doing Business rank ings. Perception is everything, and he pointed to the impact that Singapore's h igh 'Ease of Doing Business' ranking w as having on its economy. The island n ation, which supplied the consultants that assisted with the Government's online service project, had attracted hundreds of companies to establish themselves there, boosting employment and economic growth. "Over time, the more we encourage this e-government platform, the more there will be benefits all around," MrL aing said. The Bahamas has slipped gradually in the Ease of Doing Business listings over the past few years,a nd the minister expressed hope that the nation would have "a much better ranking" He hoped to see an improvement in t he medium term, with a more marked rise long-term.. The first four e-government services l aunched yesterday were driver's l icence renewals, real property tax paym ents, civil service-wide customer service, and vendor inquiries. M r Laing said that in a couple of w eeks the platform would be expanded to feature the online application for, and payments, of Business Licences. The Road Traffic Act will be amended in October to provide fort raffic penalties to be paid over the Internet, thus relieving the pressure o n the court system. And, among the other services to be added over the coming years, are new a nd renewal work permit applications; Customs duty payments; passport a pplication payments; post office box rental payments; and police character certificate payments. Mr Laing yesterday said he had already received queries over whether annual International Business Com pany (IBC online, and added: Obviously, thats where we intend to go, so whatever transaction one could imagine beingd one over the computer, we want to deliver over the computer. W hile hundreds of government s ervices could be provided online, Mr L aing pointed out that the Ingraham administration had to prioritise, as each one required back end support to be put in place. Urging the public and private sector to provide feedback on what services they wanted to be provided online next, Mr Laing said: Its a Budget issue, a time issue and a logisticali ssue. It will take us time, and as the people from Singapore have pointed out, itt ook them 30 years to get where they are today. I dont imagine it will take us that sort of time, but it will take us time to bring all these services online. T he Prime Minister said yesterday: We are deepening and broadening the Governments efforts to create m ore of a service culture, aided by cutt ing-edge technology and best pract ices in the public service. And we are improving the means by which servicesw ill be delivered to businesses and the g eneral public. The Bahamas has spent many years on the journey that led us to this point in our history. The e-government vision was conceptualised more than a decadea go when we were in office, but it is only now that we have finally arrived at a point where we can present a single window and a new face to government services online. A nd he added: Our vision for the Bahamas is that investing in the use o f technology to deliver public services (education, health, financial, etc. catapult our nation forward in the delivery of services to the Bahamian public. Our vision is that the Governmen ts substantial progress in implementation of e-Government will serve as a catalyst to drive a new wave of the use of technology in all facets of theB ahamian economy. The commodities which contributed most to total i mports in 2009 were again among the top commodities i mported in 2010, the Department of Statistics said. They were other diesel valued at $333 million, motor gasoline at $172.5 million, jet fuel at $64.5 million, and other fuels at $58.9 million. The combined value of these commodities represented 22 per cent of total imports. On the export front, domestic Bahamian exports a ccounted for $304.8 million or 49 per cent of the $ 621.4 million. T he main contributor to the former was chemicals at $186 million, accounting for 61 per cent of total domestic exports. Food and live animals accounted for $75.7 million o r 25 per cent of total Bahamian exports. While the category of chemicals showed a marked decrease (19.1 per cent r y of food and live animals showed an increase of 15.3 p er cent, the Department of Statistics. Commodities Included in the food and live animals category were crawfish, rum and salt. Three commodities alone expansible polystyrene valued at $102.8 million; other compounds containing a pyrimidine ring at $81.4 mil-l ion, and spiny lobster frozen at $67.8 million accounted for some 82.7 per cent of total domestic exports. W hen it came to the Bahamas major trading partners in 2010, the US still accounted for the lions share of imports at $2.4 billion, some 83.8 per cent. The US a lso received some 75.6 per cent of total exports. There was also significant trading volumes b etween the Bahamas and Puerto Rico and Trinidad & Tobago, standing at $201.5 million and $66 million respectively. H owever, imports from Venezuela fell by 74.7 per cent, from $48.2 million in 2009 to $12.2 million in 2 010, due to a reduction in the price of fuel oil. In terms of exports, the US ($470 million Kingdom at $30.7 million and France ($24 million were among the top partner countries, representing 75.4 per cent, 4.9 per cent and 3.8 per cent of total e xports, respectively, the Department of Statistics s aid. TRADE DEFICIT UP 6% TO $2.241BN F ROM page one E-GOVERNMENT PLATFORM TO BOOST REVENUE FROM page one MINIMUM W AGE INCREASE O T A GOOD IDEA FROM page one OBIE FERGUSON
NEW YORK Associated Press Copper prices rose Thurs day as a labor strike contin u ed for a sixth day at the world's largest copper mine. Copper for September delivery rose 2.3 cents Thurs d ay to settle at $4.4695 a pound. The strike at La Escondida m ine in northern Chile comes as global copper stockpiles are already in short supply. E scondida is majorityo wned by Australia's BHP Bil liton Co., and produces about 7 percent of the world's cop p er. The strike has reduced production by 18,000 tons at a cost of $180 million. Escon d ida has said it may not be able to honor its copper con tracts for reasons beyond its control. "The market has very little slack to deal with a prolonged strike," Barclays Capital analysts wrote in a note to clients. Other commodities were mixed as investors remained focused on the tense debatein Congress over how to avoid a U.S. debt default next week. The Treasury Department says the government won't have enough money to cover all its bills after Tuesday unless an agreement is in place tor aise the country's borrowing l imit. Lind-Waldock senior mar ket strategist Phillip Streible believes investors are growing more confident that a deal will be reached. "Investors must b elieve that a plan will be sub mitted and approved very soon," he said. Gold for August delivery fell $1.70 to settle at $1,613.40 an ounce, September silver dropped 77.4 cents to $39.794 a n ounce, October platinum fell $15.60 to $1,792.40 an ounce and September palladium dropped $5.10 to $828.10a n ounce. In other trading, agricultural and energy contracts were mixed. September wheat fell 11.5 c ents to settle at $6.9325 a b ushel, December corn fell 5.25 cents to $6.8625 a bushel and November soybeans lost 9 cents to $13.715 a bushel. Oil prices settled up slightly as traders waited to learn morea bout the possible impact of a tropical storm in the Gulf of Mexico. Tropical storm Don formed near Mexico's Yucatan penin sula Wednesday and is expected to make landfall near Corp us Christi, Texas, on Friday night or Saturday morning. Benchmark crude for September delivery rose 4 centst o settle at $97.44 per barrel on the New York Mercantile Exchange. MILAN Associated Press FIAT AND CHRYSLERCEO Sergio Marchionne on Thursday announced a new 22-person management team and four-continent corporate structure to drive deeper integration between the two automakers. It is the most significant management shuffle since Italian automaker Fiat SpA took over Detroit's No. 3 automaker Chrysler LLC 25 months ago, and comes just a week after Fiat became the majority shareholder in Chrysler when it completed the purchase of the U.S. and Canadian government shares. The moves take effect Sept. 1. "We have now reached the right movement to step on the accelerator of the FiatChrysler integration," Marchionne said in a statement. The new company will be run by a 22person executive council similar to the one that ran Fiat before it spun off its truck, construction and farm equipment businesses earlier this year. And the car manufacturing business will be divided into four regional centers, representing distinct markets: North America, Europe, Asia and Latin America. Marchionne said the appointments which comprise 13 managers from Fiat businesses and nine from Chrysler "reflect the multicultural geographically diverse nature of our business." Marchionne, who will remain the CEO of Fiat and Chrysler, will be chief operational officer for North America, including Chrysler. Gianni Coda will be chief operating officer in Europe, while Michael Manley will hold that title in Asia and Cledorvino Belini in Latin America. Fiat's chief technology officer Harald Wester and head of design Lorenzo Rama ciotti will each hold those jobs in the new organization. Brand chiefs include Olivier Francois, who also was named chief creative officer, for Fiat; Wester for Alfa Romeo, Abarth and Maserati; Saad Chehab for Chrysler; Manley for Jeep and Reid Bigland for Dodge. Alfredo Altavilla, who played a key role in the Chrysler deal, will be in charge of business development. Richard Palmer, chief financial officer at Chrysler, will have that post in the new organization. Under the simplified structure, Marchionne reduced by more than half the number of direct reports. In all, there are 25 spots on the new group executive council, with three managers holding two positions. Fiat's acquisition of a majority stake gave it a free hand to restructure management and drive deeper integration of the company. Fiat has a 53.5 percent stake in Chrysler, and expects to raise that by another 5 percent by the end of the year. Fiat earlier this week raised its 2011 fore casts Tuesday after reporting a huge jump in second-quarter profits thanks to the takeover and integration of Chrysler. Chrysler retreated to a loss for the second quarter, but only because the expense of shedding its government debt erased what would have been a modest profit. BUSINESS THE TRIBUNE FRIDAY, JULY 29, 2011, PAGE 5B *DUU\*XHUULHURI)DLWK$ 6RXWK&DUPLFKDHO31DVVDX %DKDPDV 2 012 FIAT 500 CABRIO w hich won the Best Small Conv ertible of the Year Award from SAMA Convertible Drive. PRNewsFoto/ Chrysler Group LLC, AJ Mueller N EW ORLEANS Associated Press FOUR COMPANIESthat own and operate a fleet of vessels that regularly call on New Orleans have been fined $1 million and banned from conducting business in the United States for up to five years. In April, Stanships Inc. of the Marshall Islands, Stanships Inc. of New York, Standard Shipping Inc. and Calmore Maritime Ltd. pleaded guilty in April to 32 felony pollutions counts, along with obstruction of justice. A whistleblower aboard the M/V Americana part of the conglomerate's fleet told the Coast Guard last N ovember that the ship was dumping sludge and oily w aste. The ship's owners were accused of falsifying a r ecord book to hide the discharges. U.S. District Judge Carl Barbier ordered $250,000 of the fine to go to projects that benefit fish resources. FOUR COMPANIES FINED $1M FOR SHIP POLLUTION COPPER RISES AS CHILEAN MINE STRIKE CONTINUES
TOKYO Associated Press N INTENDO CO. stayed deep in the red in the latest quarter, forcing the Japanese video game giant to cut its full-year forecasts and slash prices on its new 3DS handheld device. N intendo on Thursday posted a net loss of 25.5 bill ion yen ($324 million April-June period, worse than t he 25.2 billion yen loss a year earlier. For the fiscal year through March 2012, Nintendo expects net profit of 20 billion yen, down 82 percent from its previous outlook, ons ales of 900 billion yen. The Kyoto-based company blamed its lackluster sales ona dearth of hit titles for the Wii and 3DS, as well as a strong yen. To fuel momentum, Nintendo decided it needed tod ramatically drop prices just f ive months after it launched the 3-D version of its DS handheld device to high hopes. The move underscores how quickly the company's fortunes have turned since theW ii revolutionized the industry and flew off store shelves. The 3DS will cost 15,000 yen in Japan starting Aug. 11, down from 25,000 yen. In the U.S., the price drops to $169.99 from $249.99 on Aug. 12. Nintendo does not set sug-g ested retail prices for Europe b ut said it would lower wholesale prices by about a third. "For anyone who was on the fence about buying a Nintendo 3DS, this is a huge m otivation to buy now," Nintendo of America President Reggie Fils-Aime said in a statement. The 3DS got off to a solid s tart when it launched but has since lost momentum. Analysts cite a lack of compellingc ontent for the device and say consumers may now be waiting for Sony Corp.'s upcoming release of the new PlayStation Vita handheld, which will sell for $299 in the U.S. S uch a big price cut so soon after a product's launch is unprecedented for Nintendo, and it's likely to annoy the loyal fans who have already b ought the device, said Eiji M aeda, an analyst at SMBC N ikko Securities in Tokyo. It took almost three years for the company to lower thep rice on the Wii for the first time, and that was by $50. This shows that Nintendo f eels it really needs to lift up t he 3DS," Maeda said. The Kyoto-based company also faces increased competit ion from smartphones and games on social networks, particularly among the casualg amers it targeted with the W ii. At a recent general shareholders meeting, President Satoru Iwata toldi nvestors Nintendo would not compete directly with smart phones by adding extra funct ions to the 3DS. A strong yen hasn't made things any easier. About 80 percent of Nintendo's sales a re from outside of Japan, making it vulnerable to cur rency fluctuations. Sales during the quarter slumped more than 50 per cent to 93.93 billion yen, leadi ng to an operating loss of 37.71 billion yen. Investors have punished Nintendo's stock price thisy ear, reflecting their anxiety about the company's health. T he issue has plunged 40 perc ent this year compared with a relatively flat performance by the benchmark Nikkei 225 stock average. M acquarie Capital Securities downgraded its rating on t he issue one notch to "Neut ral" earlier this month. The 3DS has not lived up to expectations, and Nintendo's n ext major launch the Wii U won't arrive until mid2012, analyst David Gibson said in his report. We believe the company's focus on doing both hardware/software, while noble,w ill ultimately limit their abili ty to be relevant in a 'smartp hone in every pocket' w orld," he said. G ibson suggests Nintendo needs to take "radical" steps, such as buying U.S. videog ame publisher TakeTwo Interactive Software and making its hit game "GrandT heft Auto" exclusive to the Wii U, which would attract core gamers to the platform. For now, Nintendo is bank i ng on the cheaper 3DS and new games to lure shoppers during the critical year-end s hopping season. "Super Mario 3D Land" goes on sale in November, and "MarioK art 7" hits stores in December. The company bases its earnings on Japanesea ccounting standards. Its new earnings projection is based on a revised e xchange rate assumption of 80 yen to the dollar. BUSINESS PAGE 6B, FRIDAY, JULY 29, 2011 THE TRIBUNE ,50$$5$&(/<*21*25$ *21=$/(=75(9,12fRI6($%($&+%28/(96($ %($&+(67$31$66$8%$+$0$6 /8&.(16215,3+,1RI 6+,5/(<675((71$66$8%$+$0$6 '21$/'-$0(6:22' RI30DUVK+DUERXU$EDFR %DKDPDV *XVWDYH/RXEHQRI
own inefficiencies. "The fuel surcharge s hields BEC against its own inefficient operation by g uaranteeing the recovery of all fuel costs regardless ofw hether these are due to p rice increases or inefficient operation, Fichtner con-c luded. In a variety of different manners, it can be seen that BEC relies upon recovery of fuel costs through the fuel s urcharge while making decisions which lead to less effi c ient operation, such as postponing and neglect of proper maintenance and nonoptimal investment deci-s ions. BEC is allowed to pass through the fuel price and d oes not have an incentive to purchase fuel at the lowest price or to operate effi-c iently." A nd do you recall how BEC is exposed to fraud and corruption through itsp oor procurement systems, or Fichtners conclusion that political interference hasr esulted in "low operating efficiency" and "misuse". What a surprise, many of you will say! D ont forget about the $10 million wasted on hiring unnecessary consultants. And, rounding it off, is Fichtners gloomy prediction of the present situation at BEC. BEC is in a situation where systematic mediumt o-long term planning is replaced by very short-term, ad-hoc decisions. This prac-t ice leads to costly solutions, s uch as the deferment of the investment decision for a low (life cyclep lant until the urgency of the need for additional capacity makes it necessary to installa gas turbine, which has higher operational cost but a shorter construction time." So, whats to be done? T he obvious answer, once the current Board and man agement get it back to some measure of profitability, is: Privatise the damn thing. Yet it will not be as easy as BTC (and that took 12-13y ears). F or starters, BEC is effectively a natural monopoly, given the small size of the Bahamian population. Tri b une Business, in concert with many others, would l ook to exploit the Bahamas suitability for renewal ener g y, especially on the Family Islands, and restructure the industry to allow indepen d ent power producers (IPPs to sell electricity they pro duce to BEC. In other words, create c ompetition in power gen eration, and allow various p roviders to compete with each other. Hopefully, not o nly will the environment benefit, but the competition will keep rates keen, thus benefiting business and residential consumers. This will involve splitting power generation from distribution and transmission, privatising at least the former. The distribution/transmission owner, likely to be a privatised BEC, should not be involved in generation, as t his runs the risk of price gouging. Before all this can happ en, the right regulatory and e conomic incentive framework must be put in place. Phenton Neymour, ministero f state for the environment with responsibility for BEC and other utilities, needs tog et a move on with this and show some tangible progress and results from his term in office. Little concrete has b een forthcoming so far from the National Energy Policy Committee efforts, apart from reports and tar gets, and Mr Neymour is in danger of doing a Groundhog Day with his annualB udget presentations (this y ears version sounded much like last years, espe cially on Water & Sewerage, but I digress). S tart small. The Govern ment is currently owner,o perator and regulator. Stop this by giving URCA regu l atory responsibility for electricity. Also, through leg islative amendments facili t ate the deeper penetration of this market by solar water heaters, solar PV panels and other technologies by allow i ng net metering, and the sale of excess power back to t he BEC grid. Allow businesses with their own gene rators to run their own power if they so choose. From a BEC perspective, investigate the possibility of a hub and spoke operation. Rather than build costly power stations on every Family Island, for which no investment return will be forthcoming, run cables from islands such as New Providence to nearby i slands. Use these cables to carry power to the islands. Emera is already looking atd oing this between Grand Bahama and Abaco. Who should acquire B EC? Tribune Business w ould like nothing better t han for Bahamians to do this, either alone or as aj oint venture. The PLP is already promoting the notion of Keep Bahamian industries in Bahamian hands. Sounds nice, I know. Tugs at the heart and emo-t ional, nationalistic strings. B ut does it square with reali ty? E lectricity utilities require vast amounts of workingc apital, being very intensive in this regard, and there sim p ly is not enough in this country for such purposes. Commonwealth Brewerys initial public offering (IPO the largest in this country, raised just over $50 million, falling well below the $62.5 m illion target. BEC, like BTC, would likely fetch a h igher purchase price once cleaned up and profitable. A joint venture between B ahamians and foreigners would thus be the best bet, in Tribune Businesss opin ion. Privatisation is the only option for BEC if, like BTC, we are to remove the worst ills of all political interfer e nce, nepotism and cronyism which have frequently u ndermined so much over the years. A 2002 consul tants report on BEC, by Scott Madden & Associates, highlighted the consequences of this, namely: The will to manage is weak. What do you expect, when management has been undermined and contradicted so much by the politi cians over the years? Lets hope the light finally goes on, for all of our sakes. Yet the key ingredient r emains a buy in by B ahamian society at large to the financial services indus trys importance, not just to those in the industry but all employed in todays econo my. Many still believe it is a s ector staffed primarily by expatriates, who take all the benefits. For evidence to dis pel this myth, look no furt her than the Central Bank of the Bahamas report on the 2010 contribution made by the financial sector to the economy, which noted that Bahamians accounted for 4,623 jobs or 93.8 per cent of its total employment. And, with total banking sector salary payments standing at $287.7 million, what would happen if that money was lost to the Bahamian economy. And with average salaries in the international and domestic sectors standing at $82,142 and $41,764 respectively, both well ahead of the national average, imagine what would happen to retail staff, housekeepers and gardeners if those high-paying jobs continue to dwindle. Part of the Governments reluctance in committing more resources to support ing its second largest industry is likely to stem from fears it would be subject to class warfare political attack, the Opposition charg ing that it was once again supporting the rich at the expense of the small man. Pure politics, but it works, despite the evidence. The bang for the buck, or return on investment, from supporting a wellestablished, high margin i ndustry with properly tar geted support is likely to be great. Further efforts on educating Bahamian society t owards this end are war ranted. But all sides should hurry. T he Bahamas financial ser vices cup is half-full, not halfempty, with much untappedp otential remaining. Yet we m ust overcome the past decades stagnation, adjust the business model andr eform where necessary and quickly. Competition from rival financial centres is increasing, and regulatory pressures will never cease. Unless the Bahamas acts now, the words of Paul Simon will ring ever louder: You know the nearer your destination, the more youre slip slidin away. T HE TRIBUNE FRIDAY, JULY 29, 2011, PAGE 9B 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .190.95AML Foods Limited1.181.180.000.1550.0807.66.78% 1 0.639.05Bahamas Property Fund10.6310.630.00-0.6400.080-16.6 0.75% 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% 11.108.44Cable Bahamas8.488.480.000.2450.31034.63.66% 2.802.35Colina Holdings2.552.550.000.4380.0405.81.57% 8.508.33Commonwealth Brewery8.408.400.000.7400.00011.40.00% 7.006.04Commonwealth Bank (S1 6.886.880.003000.4960.26013.93.78% 2.001.90Consolidated Water BDRs1.641.660.020.1110.04515.02.71% 2 .541.31Doctor's Hospital1.381.380.000.0740.11018.67.97% 5 .994.75Famguard5.405.400.000.4980.24010.84.44% 8 .805.35Finco5.395.390.000.7570.0007.10.00% 9 .747.75FirstCaribbean Bank8.608.600.007000.4940.35017.44.07% 6 .004.59Focol (S 5.755.750.000.4350.16013.22.78% 1 .001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7 .305.50ICDUtilities7.307.300.00-0.1220.240-59.8 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% 5 2wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 9 9.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00FINDEX:YEAREND2008-12.31%30 May 2013 2 0 November 2029THURSDAY,28JULY2011BISX ALLSHARE INDEX:CLOSE 1,414.35 | CHG0.02 | %CHG0.00 | YTD -85.16 | YTD %-5.68B ISXLISTED DEBTSECURITIES-(BondstradeonaPercentagePricingbasis)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%BISXLISTED& TRADEDSECURITIES AS OF:7% Interest 5 2wk-Hi52wk-LowSymbolBid $ A s k $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%Last12 Months %NAV 3MTH 1.57161.4674CFAL Bond Fund1.57162.98%6.01%1.467397 3.01602.9020CFAL MSI Preferred Fund3.01602.33%3.29%2.902023 1.61281.5289CFAL Money Market Fund1.61282.46%4.56%1.528885 3.20252.5730Royal Fidelity Bahamas G & I Fund2.5730-5.41%-9.79% 13.680613.0484RoyalFidelity Prime Income Fund13.68062.42%2.01% 114.128999.4177CFAL GlobalBond Fund114.09222.35%13.88%114.128861 118.4255101.6693CFAL GlobalEquity Fund118.42552.30%8.26%116.580785 1.16081.0000FGFinancialPreferredIncomeFund1.16551.66%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 ProtectedTIGRS,Series19.94330.98%4.58% 11.217310.0000Royal Fidelity Bah Int'l Investment Fund Principal ProtectedTIGRS,Series211.19701.31%11.59% 10.42889.1708Royal Fidelity Bah Int'l Investment Fund Principal ProtectedTIGRS,Series310.15251.27%8.82% 8.45104.8105Royal Fidelity Int'l Fund Equities Sub Fund8.65073.01%18.38% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume LastPrice Last traded over-the-counter price Today's Close Current day's weighted price for daily volume WeeklyVol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M NotMeaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1StockSplit EffectiveDate8/8/2007 (S1) 3-for-1StockSplit EffectiveDate7/11/200730-Jun-11 30-Apr-11 111.469744 115.762221 30-Jun-11 30-Apr-11 NAV 6MTH 1.526164 2.947425 1.574964TOTRADE CALL:CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS242-396-4000 |COLONIAL 242-502-752530-Jun-11 30-Jun-11 30-Jun-11 22-Jul-11 31-May-11MARKETTERMS30-Apr-11 31-Mar-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFALSecuritiesLtd.(Over-The-Counter Securities)30-Jun-11BISXListedMutualFundsNAV Date 31-May-11 30-Apr-11 BUSINESS REVIEW WASHINGTON A ssociated Press THE nation's health care t ab is on track to hit $4.6 trill ion in 2020, accounting for a bout $1 of every $5 in the economy, government number crunchers estimate in a report released Thursday. How much is that? Includi ng government and private m oney, health care spending in 2020 will average $13,710 for every man, woman and child, says Medicare's Office of the Actuary. Compare it to this year, w hen U.S. health care spendi ng is projected to top $2.7 trillion, about $8,650 per capita, or roughly $1 of $6 inthe economy. Most of those d ollars go to provide care for t he sickest people. Along with rising costs, the report found that the shareo f the health care tab paid by the government keeps growing, approaching half t he total. T he update from Medicare economists and statisticians is an annual barometer of a trend that many experts say is unsustainable, but doesn't seem to be slowing. A polit-i cal compromise over the n ation's debt and deficits might succeed in tapping the brakes on health care, but polarized lawmakers have been unable to deliver a deal. T he analysis found that P resident Barack Obama's health care overhaul would only be a modest contributor to growing costs, even though an additional 30 mill ion otherwise uninsured p eople stand to gain coverage. I nstead, health care spending keeps growing faster than the economy because of highc ost of medical innovations and an aging society that consumes increasing levels o f service. M any of the newly insured people under the health care law will be younger and healthier, so they cost less. Over a million young adults under age 26 have alreadyg ained coverage through t heir parents' insurance. Millions more will get insurance when the law's big coverage expansion kicks off in 2014. Jump That year, health care spending will jump by 8 percent. But over the 2010-2020p eriod covered by the estim ate, the average yearly growth in spending will be only 0.1 percentage point higher than without Obama's overhaul. Most of the newlyi nsured are not expected to require much pricey hospital care, generally needing only doctor visits and prescription d rugs. A nother reason for the optimistic prognosis is that cuts and cost controls in the health care law start to bite down late in the decade. However, the same nonparti-s an Medicare experts who p roduced Thursday's estimate have previously questioned whether that austerity will be politically sustainable. If hospitals and other providers start going out ofb usiness, Congress may r everse the cuts. The report found that health care spending in 2010 grew at a historically low rate of 3.9 percent, partly because o f the sluggish economy. That w ill change as the economy shakes off the lingering e ffects of the recession. Government, already the dominant player because ofM edicare and Medicaid, will become even more important. By 2020, federal, state a nd local government health c are spending will account for just under half the total tab, up from 45 percent currently. As the health care law's coverage expansion takes effect, "health care financing isa nticipated to further shift t oward governments," the report said. Estimates from previous years had projected that the government share would already be at the 50 percentm ark, but the actuary's office c hanged its method for making the complex calculations. Under the previous approach, some private payments such as worker's compensation i nsurance had been counted i n the government column. A ccuracy Technical accuracy not political pressure was behind that change, said one o f the experts who works on t he estimates. "This was an internal decision that was not influenced by any outside party," said Stephen Heffler. Separately, another new report finds that the UnitedS tates continues to spend far m ore on health care than other economically developed countries. The study by the Commonwealth Fund found that U.S. health care spending per person in 2008w as more than double the m edian or midpoint for other leading economies. Although survival rates for some cancers were higher in the U.S., the report found t hat quality of care overall w as not markedly better. The Medicare actuary's r eport on health care spending is published in the journal Health Affairs. The actuary'so ffice is responsible for longrange cost estimates. US GOV'T: HEALTH TAB TO HIT $4.6 TRILLION IN 2020 roads closed for months at an e nd, the recessions effects w ere exacerbated for many small and medium-sized Bahamian-owned companies, f orcing many to shut their doors and further lengthening the unemployment queues. A completely unnecessary l egal fight then ensued with the 50 businesses represented by the Coconut Grove Business League. However that case pans out, Tribune Business cannot help butw onder if the negative publicity could have been avoided had the Government moderated its approach, r ather than ram ahead. 3) FREEPORT: FNM c ountry, but will it still be the case in 2012? The citys economy has been mired int he doldrums since 2004. While the present administration did not spark this, its actions can hardly be said toh ave helped the situation, especially given its seeming attempts to erode the H awksbill Creek Agree ment. First there was Customs d emand for a monthly bonded goods sales report. Then there was the request for an NIB Letter of GoodS tanding before annual bond letters were renewed. Soon after came the PrimeM inisters announcement that he would postpone talks on renewal of Freeports B usiness Licence and real property tax exemptions for several years, followed by continuing efforts geared to getting the Grand Bahama Port Authority (GBPA cede its regulatory powers for communications and, by extension, all utilities. Not a very good picture when all is added up. The PLP can hardly claim to have a pristine track record, or be an alternative government in waiting, but all these items are in danger of negating the good things that have been accomplished on Prime Minister Hubert Ingrahams second watch. They include BTCs privatisation, the launch of e-government, getting the shipping firms out of Bay Street, the proposed Small and MediumSized Business Development legislation, and ongo ing infrastructure develop ment and stimulus spending that prevented the bottom of the Bahamian economy falling out. Dont throw it all away now, Mr Prime Minister and Cabinet. 2002 flashback F ROM page 11 FROM page 11 When will the lights go on? FROM page 12 Stopping slip slidin away Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you ar e raising funds for a good cause, campaigning for impr ovements in the ar ea or have won an award. If so, call us on 322-1986 and share your story.
T HE TRIBUNE FRIDAY, JULY 29, 2011, PAGE 11B BUSINESS REVIEW THEY think were just a bunch of filthy rich bankers, w as how one senior Bahami an financial services executive described, many moons ago, the Governments atti-tude towards the sector and the level of support it provided. A touch harsh on both s ides, perhaps, but it provides some perspective on an indus try that has been treading w ater for more than a decade. Buffeted by multitude of regulatory changes induced by international pressure, and the dynamic nature of an ever-evolving global business, the Bahamian financial ser vices industry has not really grown since the turn of the century. The fall-out from the2000 blacklisting crisis, while shrinking the sector, left in place the cream of the crop blue-chip, global brand insti tutions that, by and large, have remained. Yet you get the sense the sector is still seeking its place in the sun. Which is why Tribune Business agrees with the likes of Brian Moree, senior partner at McKinney, Bancroft & Hughes, that more focus must be brought to the continued development of financial ser vices on the public sector side through appointing a director of financial services. For starters, it would send a message to the world that the Bahamas is at least serious about the financial services business, and provide a focal point for even greater co-ordination between the private and public sectors. Much likethe director-general of tourism, a director of financial services would also be charged with promoting the Bahamas at all manner of international conferences, attempting to attract more clients and institutions to these shores. Tribune Business is always loathe to create more government bureaucracy, but giv en that financial services is the Bahamas second most important industry at a con servative 15 per cent of GDP, greater public sector support is warranted. The director of financial services would, idea lly, be a person drawn from the industry who has a grasp on all its critical issues and needs, with the clout and abil ity to have direct access to the Prime Minister and Minister of Finance. The director would head a small, self-contained unit within the Ministry of Finance, assisted by various support staff. This would ensure the separation of financial services promotion al and regulatory functions within government, and avoid creating a bloated bureaucra cy. The former Christie administration created a Ministry of Financial Services and Investments, but in Tribune Busi nesss opinion such a creature is unnecessary as a mere department would suffice. The PLPs creation also seemed more interested in the investments side, as opposed to financial services. True, the Ingraham admin istration has done some things to support financial services. It has doubled the Bahamas Financial Services Boards (BFSB from $500,000 to $1 million, publicly outlined its public policy position and focus for the industry, and worked with BFSB in developing its SCRIPT formula for contin ued growth and development. Yet, somehow, more must be done. The funding avail able to BFSB is far less than what international financial centre rivals, such as Cayman and Bermuda, have available in their war chests. Immigra tion, communications, electricity, the Registrar Gener als Office........ given the mul titude of areas that are critical to financial services compet itiveness, the Government and public sector have no choice but to get more i nvolved. The BFSBs targeting of Brazil, Latin America and other emerging markets is all well and good. But there is a missing link in the equation........... the private sector and wider Bahamian society. Wendy Warren, the BFSBs chief executive and executive director, has frequently said that a great amount of time is spent on influencing head office perceptions of the Bahamas and keeping them abreast of developments, and the reality, on the ground. That hints at a conundrum that has developed as the Bahamas financial services business model has evolved. All the blue chip institutions we have are far more head office, as opposed to jurisdiction, driven. That is under standable, given that they are all subsidiaries of headquarters, but it largely leaves the intermediaries the lawyers, accountants and financial and corporate services providersto lead promotion of the Bahamas as a jurisdiction, giv en that bank and trust company priorities are dictated elsewhere. While Bahamas-based law firms, such as Lennox Paton, have moved to establish a greater international pres ence, and Higgs & Johnson moved into Cayman via acquisition, they are still behind the likes of Cayman and Bermuda. This must change, with the Bahamas establishing a greater market presence in the minds of both head offices and key rain makers, particularly the attorneys and accountants who direct where high net worth individuals place their business. Stopping slip slidin away I S THE Government trying to commit political suicide? Such thoughts have crossed Tribune Businesss mind in recent weeks, given how the Ingraham administration has handled key legislation. Shades of the FNMs 2002 general electionl oss come to mind. The economy is still bad, so why harm your re-election chances even more? Theres an old saying: When youre in a hole, stop digging, and that does not only apply to the New P rovidence Road Improvement Project. There is a tendency when unemp loyment is high, and economic g rowth anemic, to rightly or wrongly blame the existing government at t he ballot box, and the Ingraham a dministration would do well to remember that. Why exacerbate such prevailing sentiments by pushing through vital reforms without cons ulting the major private sector stakeholders? T wo such examples come to mind i n recent weeks: The Customs Man agement Act and the Maritime Marr iage Act. The former involved the c urious case of the so-called Customs Consultative Committee, upon w hich several private sector representatives had been invited to sit, yet never met. Zhivargo Laing, minister of state for finance, said he was u naware of any such initiative cer t ainly at the policy level and said consultation on the Customs Mana gement Act had taken place. Now, with the Bill in Parliament, the same private sector representatives are being invited once again to serve on the same committee. A bit like trying to shut the proverbial sta-ble door after the horse has bolted. One has to ask whether the CustomsC onsultative Committee is worth the effort, given that a key mandate wasto provide input into the Acts r eforms. Will any future recommen d ations be listened to by the powers that be? Accepting Mr Laings assurances that some consultation did take place, and his argument that not every private sector request can be accommodated by the Governmenth as merit, Tribune Business is still puzzled that neither the Bahamas Chamber of Commerce and Employers Confederations (BCCEC man, nor his Freeport counterpart, caught sight of the legislation before i t went to the House. No broker or anyone else for that matter conf irmed seeing the Bill before it r eached the House of Assembly. While there was consultation, it cert ainly was not was wide as possible. A s for the Maritime Marriage Act, one can understand the Bahamas Maritime Authoritys (BMA to placate the cruise lines and maint ain both their registry presence and its high-quality reputation by allowi ng them to conduct weddings at sea. T rouble is, those who might be impacted appear not to have been l et in on the secret. I t seems likely that, by permitting marriage at sea, the Bahamian dest ination weddings market and all businesses that benefit from it will lose custom from cruise passengers, who account for a meaningful share o f the market. Yet next-to-no warn i ng appears to have been received. Matthew Sweeting, the marriage o fficer operating as Island Preacha, told Tribune Business he only found out that the legislation was moving forward on the day it was debated in the House of Assembly. He called the destination weddings section at the Ministry of Tourism, who were just as in the dark as he was. Not ag ood advert for government co-ordination that, the left arm not knowing what the right arm is doing. O ne can understand the Govern m ents desire to complete its legislative agenda prior to the upcoming election, given that key reforms in so many areas are pending. But the way some Bills have been handled is likely, for some, to revive memories of the run-up to 2002, when the then-F NM administration was, rightly or wrongly, perceived to be ramming laws down peoples throats with minimal consultation. Perception is everything. The latest mishaps come on top o f other developments that have only s erved to alienate what should be one of the current governments core constituencies, the private sector. 1) TAXES: No one would argue with attempts to simplify the import duty regime, but the 2008-2009 Bud-g ets moves to amalgamate Customs and Stamp duty resulted in 35 + 7 = 4 2 (the most common percentage being rounded up to 45 per cent. One can understand the Governments desire to maintain revenues, but this yet again especially the fuzzy maths in rounding up took the business community by completes urprise. It resulted in tax increases that were inevitably passed on to consumers, raising the cost of living. Compounding this was the Ingraham administrations decision to introduce large-scale duty and tax r ises in the 2010-2011 Budget, in a b id to slash the deficit and get the public finances back in order. The goal was laudable, but the car d inal rule of: You dont raise taxes in a recession, seemed to have been forgotten. We need the private sector to lead us out of recession, and thosei ncreases merely set the process back. Economic growth, not tax increases, i s the main medicine for the Governments fiscal woes. 2) THE ROADWORKS: Few can deny that New Providences road network was in serious need of upgrade, and that the Christie admin i stration botched its chance to complete the job during its 2002-2007 term in office. It is also understandable that the Government wants to minimise the costs by having the contractor complete the work in one p ackage, rather than have it coming b ack to do sections at a time. However, the implementation can only be described as botched. Again,c onsultation and consideration for those impacted, especially businesses, seems to have been kept to a min imum. With huge swathes of key Govt approach a 2002 flashback Society buy-in essential to ensur e the necessar y suppor t that will help Bahamian f inancial services gain r ightful place Handling of legislative thrust risks further alienating private sector and negating good things Ingraham administration has accomplished DIGGINGIN: Road works taking place this year. T RIBUNE BUSINESS OPINION B rian MoreeWendy Warren TRIBUNE BUSINESS OPINION SEE page nine SEE page nine
Dont Blow It Received a Lump Sum?Let Royal Fidelitys seasoned investment professionals help you identify and reach your investment goals BUSINESS REVIEW PAGE 12B FRIDAY, JULY 29, 2011 AP SOURCES: PARTS PROBLEM HURTS FORD FOCUS SALES SEE PAGE 7B MURDOCH RETURNS TO NEWS CORP WORRIES IN US SEE PAGE 8B Y ou should never kick a man when hes down. But in t he Bahamas Electricity C orporations (BEC it is pretty hard to resist the t emptation. You can almost guarantee that if it was a private company, the chief executive and senior man-a gement would either have resigned or been forced to quit, along with the chair man and some Board members........ Now theres at hought. Apologies to Messrs Moss a nd Basden, and their col leagues, as the focus of thisa rticle is not the individual. But given what Bahamian b usinesses and households have had to endure over the last few months, BEC could not have produced a bettera dvertisement for why the Government must get out of business especially util ity businesses and why itm ust be privatised itself. Preferably next, now that t he Bahamas Telecommunications Company (BTC over and done with. Electricity affects us all. Its that simple. In todays world we cannot do without it, meaning that what happens at BEC affects every man, woman and child in this country. It also costs a lot, in comparison with electricity rates in other countries (maybe not the Caribbean), and is therefore critical to the economic competitiveness of all Bahamas-based businesses. While electricity costs have inhibited the Bahamas ability to make inroads in sectors such as manufacturing and exporting, and depressed profits in the hotel sector, the price would at least be more bearable if BEC was able to maintain a consistent, reliable supply. Regrettably it is unable to do even this, resulting in every summer becoming like G roundhog Day a repeat of the yowls, howls, screams and complaints that reached a crescendo last year and every year. This year, the blackouts and load shedding seem, ifa nything, to have gotten worse. Companies are unable to conduct business i n the absence of a generator, and frequently complain a bout equipment fried dur ing power surges, while employees are unable to bathe before coming tow ork and conduct other necessary human functions, with all the attendant impli cations for productivity. And what do the powersthat-be do? Engage in yet more political finger pointing. The Ingraham government blames the cut in theb asic tariff rate, enacted under the watch of the for mer Christie administration and then-minister, Bradley Big Bad Brad Roberts, for depriving BEC of revenues essential to cash flow and profitability. The knock-on effect, they argue, is that BEC has been unable to finance essential mainte nance to its generation, transmission and distribution equipment, hence the current load shedding and blackouts. In response, the PLP retorts that BECs woes are the result of mismanagement by the current FNM government, and that it has been in power long enough to get it right. Whatever. There may be some truth in what both sides are saying, but it is plainly ridiculous t hat a monopoly provider of a service for which there is inelastic demand racked up losses of $16.015 million and $21.225 million, respectively, during its 2007 and 2008 financial years. In the eyeso f anyone on the outside, BEC would be a laughing stock, fully deserving of the BEC Buy Extra Candles moniker. No laughing matt er in the Bahamas, though, as we are the ones stuck with the end result. Anyone who has seen the c lassic Carry on films would know that BEC would be the perfect fit when it comes to the movie Carry on supplying elec tricity. Lingering doubters should read the investigation into the Corporations operations by the Germanc onsultants, Fichtner, for it provides the perfect sum mary of why were in the state were in. Take the 210,000 staff overtime hours booked for the 2009 financial year equivalent to one hour of overtime per day for every employee. That, though, was nothing compared to the 400,000 booked the previ ous year. Or how about the $85 million in accounts receivables owed to BEC by the private sector in fiscal 2010. Not to mention the multi-million dollar sums owed by other government departments. Then comes the explanation about how BEC uses the fuel surcharge to hide its BECs continued woes highlight why it should be ne xt on the privatisation block. Tribune Business urges all political parties to commit in their election manifestos to getting government out of business, especiall y the utilities business SEE page nine F e l i p M a j o r / T r i b u n e s t a f f
By BRENT STUBBS Senior Sports Reporter email@example.com I t was another historic perf ormance from Arianna Vanderpool-Wallace as she inked her name as the N o.10 best female 100m freestyler in the world this year. F resh off her epic bronze medal last year at the FINA World Short Course Championships in Dubai,V anderpool-Wallace led the same three-member delegation to the 14th FINA World Championships in Shanghai, China, where she posted her latest feat. O n Thursday at the Oriental Sports Center, Vanderpool-Wallace f inished fourth in the first of the two semifinal heats of the womens 100 free in 54.46 seconds for 10th overall. Having just missed the opportunity to advance to the final, Vand erpool-Wallace made history as the f irst Bahamian to advance to a semif inal at the meet. She also lowered her national record twice, first in the preliminaryr ounds when she clocked 54.51 seconds with her fifth place in thee ighth of 10 heats. C oming right back later in the evening, Vanderpool-Wallace again lowered her national mark as she accomplished the A qualifying cut of 5 4.51 for the 2012 Olympic Games on both occasions. Bahamas Swimming Federation president Algernon Cargill was quite i mpressed with her performance. It really shows her commitment to be one of the top swimmers int he world, Cargill said. She still h as a best race yet to come in the 50 free. So we are looking forward to e ven greater things from her at the meet. Vanderpool-Wallace, a 21-yearold entering her senior year atA uburn University, will be back in action Saturday when she competes out of lane three in the ninth of 12 heats of the womens 50 free. She has a qualifying time of 25.49. The other two team members were expected to compete today. G rand Bahamian native and Uni versity of Kentucky graduate Elvis Burrows will swim out of lane five int he 13th of 16 heats in the mens 50 f ree. Burrows, 22, has a qualifying time of 22.39. And Alana Dillette will swim out of lane seven in the fourth of seven heats in the womens 50 fly. The 24year-old graduate of Auburn University qualified with a time of 27.25. Both competitors already competed in an event. In his 50 fly on day one of the championships on July 24, Burrows was eighth in the fifth of seven heats THETRIBUNE SECTIONEFRIDAY, JULY 29, 2011 INSIDE TRAK T T U U R R N N T T O O 3 3 E E . . . T T U U R R N N T T O O 4 4 E E . . . T T U U R R N N T T O O 3 3 E E . . . KNOWLES, MALISSE SURVIVE 1ST ROUND CBC: TOPRANKED JA STUNNED BY US VIRGIN ISLANDS SPORTS MINISTER GETS ANTIDOPING RULES LOCHTE BEATS PHELPS, SETS WORLD RECORD IN 200 IM BILLS REACH FOUR-YEAR, $15m DEAL WITH WR SMITH 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 . . . CHRISTOPHER Sands finished in 29th place overall at the 41st ISAF Youth Sailing World Championship in Zadar, Croatia. And the event was an extremely challenging one for the Bahamas top junior sailor. Sands raced in the boys laser radi al class in which he was 29th out of 50. He and his coach, Robert Dunkley, were hoping for a better result, especially as Christopher took 28th place out of 53 last year. Sands had substantially improved his boat speed, boathandling and tactics over the last year. In the major laser radial champi onships in North America earlier in the year, Sands had turned in a number of impressive performances. When considering the level of competition in both of these years, Christopher has done exceptionally well. To put things into perspective, this championship is the premier event for youth sailing in the world. It is modeled after the Olympic Games and is designed as the introductory event for this level of sailing. For youth sailing, it is the ultimate, said Dunkley. At this years event, Sands found it frustrating with the lack of wind. His comment to a news reporter while there was, so far it has been great a part from the wind. The wind has been really shifty and it's been up and down as well. This was very much the case for the first few days. Dunkley said to do well at this level, you need fitness, good boatspeed and boat-handling, sound tactics and a wee bit of luck which, when it comes down to it, means smarts. In this 12-race series over six days, the smartest sailors, not necessarily the fastest, won out. Sands best three finishes in the series were two 10s and an 18. The Bahamas is once again one of the nations approved for the Athlete Participation Programme [APP] funding support from ISAF. This year, the coach in charge of sailors in the programme was Hugh Styles of England, an Olympian and incredibly talented sailor who was a great inspiration to all of the sailors ISAF Youth Worlds: Sands ends up 29th overall S S A A I I L L I I N N G G S S E E E E p p a a g g e e 7 7 E E S S E E E E p p a a g g e e 2 2 E E An historic record Vanderpool-Wallace first Bahamian to advance to semifinal at FINA Worlds TEAM BAHAMAS: Shown (l-r (also in action above) before they left for China to compete in the 14th FINA World Championships in Shanghai.
SWIMMING PAGE 2E, FRIDAY, JULY 29, 2011 TRIBUNE SPORTS V anderpool-Wallace first Bahamian to advance to semifinal at FINA Worlds in 24.35 for 28th overall in a field of 54 competitors. O n Wednesday (day four), Dillette got 42nd out of a field of 57 competitors after she was eighth in the fourth of eight heats in the womens 50 back in 29.97. They are performing pretty good, Cargill said. They are having a good meet. Its not their best, butt hey are performing at the meet. The team is being managed by Kathryn Dillette and the coach is Lionel Moreau of Auburn. By BETH HARRIS AP Sports Writer SHANGHAI (AP M ichael Phelps knew it would take a world record to win the 200-meter individual medley at the world championships. He just thought it would come f rom him. Instead, Phelps found hims elf on the losing end of a close finish Thursday, watching teammate Ryan Lochte celebrate the first world record set since high-tech bodysuits were banned one and-a-half years ago. I t was Phelps' second s traight loss to his good f riend, who had beaten the 14-time Olympic gold medall ist in the 200 freestyle two n ights earlier. "They both sort of told me t he same thing, I need to be in better shape," Phelps said. "If I want to be faster the work has to be there and it has to b e there consistently." L ochte sprinted to the wall in 1 minute, 54.00 seconds, t hen pumped his right arm before clasping hands with Phelps in the next lane. He lowered his old mark set two years ago in Rome by a tenth o f a second. "One word describes that race, jeah!" L ochte said, using his f avourite made-up expression. Phelps checked his time of 1:54.16, then slid over the lane rope in front of Lochte and m ade his way out of the pool. H ungary's Laszlo Cseh took the bronze in 1:57.69. We're usually on the other end of the close ones," said Bob Bowman, Phelps' coach. T he final was virtually a match race between Phelps and Lochte, with Phelps lead-i ng the opening butterfly leg by six-hundredths of a second. Lochte took over on the backstroke leg and held a nar-r ow lead through the finish. Phelps outsplit Lochte by 0.13 seconds on the closing f reestyle leg. "I thought I had it on the last stroke," said Phelps, whog lided into the wall. "After thinking about it, I probably could have rushed anothers troke in there and maybe gotten to the wall faster." Before Lochte's 2009 world record, Phelps had set thep revious eight world records in the event dating to June 2003. "I knew a world record w as going to win that race," Phelps said. "It says something that we're still able to do those times." L ochte set two world records at short-course worlds in Dubai in December, theo nly other individual marks set during the last 19 months, a stretch in which he has been t he dominant American swimmer. "I wanted to do something t hat everyone thought was impossible," he said. "Since they banned those suits, everyone thought a worldr ecord would never get touched again. I just wanted to show everyone that can h appen. That's why we have records, they're meant to get broken." Lochte has three medals ( two gold) and Phelps has four medals (one gold through the first five days oft he meet. Two likely future stars emerged victorious Thursday,w ith Australia's James Magnussen winning the 100 freestyle and 16-year-old American Missy Franklin earning her third medal in as many events. M agnussen overtook d efending champion Cesar Cielo of Brazil on the final lap to win in 47.63 seconds. "It means the world and I know it means a lot to Australian swimming as well," M agnussen said. "First pers on to win that event at a world championships from Australia, which is a pretty big deal. I think it puts men's sprinting in Australia back in the spotlight." B rent Hayden of Canada earned silver in 47.95 and W illiam Meynard of France took bronze at 48.00. Cielo finished fourth, and Ameri-c an Nathan Adrian was sixth. Competing in his first world meet, the 20-year-old Magnussen created a buzz with his sizzling opening split of 47.49 against Phelps in the 4x100 relay last Sunday to help theA ussies win. In the women's 50 backstroke, a non-Olympic event,A nastasia Zueva of Russia won in 27.79, with Aya Terakawa of Japan second at2 7.93 and Frankin third at 2 8.01. Franklin returned later to lead off the United States' w inning 4x200 freestyle relay team. Her split of 1:55.06 would have won the 200 freet he night before, when Italy's F edrica Pellegrini took the gold in 1:55.58. "I've never f elt this strong," Franklin said. "I'm just having the time of my life." Franklin, Dagny Knutson, K atie Hoff and Allison Schmitt won in 7:46.14 to reclaim the title the US lost to China two years ago. Aus tralia was second and the Chi nese settled for bronze. C hina's Jio Liuyang won the women's 200 fly at 2:05.55, giving the host country its fourth gold. Ellen Gandy ofB ritain was second and defending champion Liu Zige of China third. Lochte beats Phelps, sets world record in 200m IM W ORLD RECORD: A mericans Ryan Lochte ( left) a nd Michael Phelps ( right) c ompete in the 200m IM final at the FINA Swimming World Championships in China Thursday. ( AP Photo) A SPLASH IN HISTORY: Arianna Vanderpool-Wallace competes in the 14th FINA World Championships in Shanghai, China. F F R R O O M M p p a a g g e e 1 1 E E
By BRENT STUBBS Senior Sports Reporter firstname.lastname@example.org WHILE the Bahamas Bas ketball Federation (BBF mens national team is holding court at the Kendal Isaacs Gymnasium, another talented young Bahamian is taking his show on the road. Jabari Wilmott, a 2011 graduate of St Augustines College, was selected by theBBF as the lone Bahamian to represent the Bahamas at the Basketball Without Borders Americas camp. The camp, which features 50 players from 16 countries, returns to Rio de Janeiro, Brazil, where the first Americas camp was staged in 2004. Wilmott, 17, is actually the first Bahamian ever selected to compete in the camp that will run July 29 to August 1. Wilmott left town on Wednesday and is already in Brazil for the camp that is being conducted by FIBA and the NBA. I would like to thank God, my family, my coaches and everybody who supported me and helped me to get this far, said Wilmott just before he left town. Its a privilege for me to have this honour to represent my country at such a big and prestigious FIBA and NBA camp. With this being by far the greatest honour that he has achieved, Wilmott said he intends to take in as much as he can from the coaches that will include NBA legends Dominique Wilkins, Sam Perkins, Allan Houston and Adonal Foyle. FIBA/NBA coaches schedu led to participate are Austin Ainge of the Boston Celtics, Kaleb Canales of the Portland Trailblazers, Alex English of the Toronto Raptors, Alvin Gentry of the Phoenix Suns and Phil Weber of the New York Knicks. Its going to be a learning experience, but I hope to make some contracts and friends and expose my talent to the world, said Wilmott, who has had an exceptional high school career with the Big Red Machine. Known also as an athlete who has represented and won medals in the high jump at the Carifta Games, Wilmott said although theres no local player that he can use as a benchmark, he intends to make his presence felt in a bid to become the best player that he can be. Basketball Without Borders (BWB website, is the NBA and FIBAs global basketball development programme that uses the sport to create posi tive social change in the areas of education and health and wellness. The players will be divided into four teams that will be coached by a FIBA/NBA legend and a FIBA/NBA coach. They will go through daily clinics in the morning to teach fundamentals passing, shooting, dribbling, one-onone moves, offense and defense. Each drafted team will have a designated time to practice their camp offense. Games will be scheduled for the afternoons and evenings and played in a round robin format. All participating players will be out fitted with Nike apparel and given a Nike gym bag containing mess practice gear, socks and Nike shoes. The NBA will provide all transportation, meals, accom modation and security for the duration of the camp. Wilmotts father, Barry, said he is very proud of his sons accomplishment. Actually, Im elated because a lot of people dont get this opportunity, he said. When you see young people stay so focused, words can not say just how I feel. Having watched his son develop his skills over the last six to seven years, Wilmott Sr said he was consistent and persistent in his endeavours. Jabari always took on everything as a challenge andI always noticed that nothing wasnt too big for him, he stated. He was always con sistent, devoted and persis tent and that enabled him to achieve just about anything that he pursued. As his son departed, Wilmott Sr said he simply wants the trip to be a learn ing experience for him. I told him that basketball will always come, so use this as a lifetime experience, he said. I want him to consider himself fortunate because not too many people get this opportunity. So dont look at this as just a sporting event, but a lifetime experience, something that most young men will nev er get an opportunity to achieve. Sean Bastian, the secretary of the BBF, said when FIBA made the request for one of their players to attend the camp, Wilmott fitted all the requirements and so it was ane asy decision for himself and president Lawrence Hepburn to make in their final selection. He was a member of our junior national team two years ago and has the educational background and the athletic abilities that they requested, Bastian said. We actually wanted to send a female as well, but they only wished to have one, so we decided that Jabari will be the best person fitted for the job. This is just one of the many initiatives that we as a federation are trying to achieve. Bastian said hes confident that Wilmott will represent the Bahamas very well. On his return from the camp, Wilmott is scheduled to leave town on August 16to start his freshman year at Ranger Junior College in Ranger, Texas. He will be coached by Larry Brown, the head coach of the mens national team that is presently playing in the CBC tour nament at Kendal Isaacs gym. SPORTS TRIBUNE SPORTS FRIDAY, JULY 29, 2011, PAGE 3E MINISTER of Youth, Sports and Culture Charles Maynard has been presented with copies of the Bahamas Anti-Doping Commission (BADP tions and strategic plan. The presentation took place during a special meeting which was called so that the BADC could officially report to the minister, who was informed of all the activities since appointment of the members in April last year. Dr Jerome Lightbourne, chairman of the BADC, informed the minister of the relationships established with the World Anti-Doping Agency (WADA Regional Anti-Doping organisation (RADO new BADC website and plans for a seminar weekend August 25-27 at Superclubs Breezes, Cable Beach. An immediate priority on the BADC agenda is to com municate directly with the sports federations to inform them of the new requirements. A special handover ceremony of the functions of anti-doping in the country from the Bahamas Olympic Committee to the BADC is set for August 12. Sports minister r eceives anti-doping rules, r egulations Lone Bahamian Jabari Wilmott in Basketball Without Borders camp MARK Knowles and his temporary mens doubles partner Xavier Malisse survived their firstround match at the Farmers Classic in Los Angeles, Califorina. On Wednesday, Knowles and Malisse, the No.3 seeded team, pulled off a 6-1, 6-4 win over the team of Colin Fleming and Ross Hutchins of Great Britain. They were scheduled to play their second round match Thursday against the team of Thomaz Bellucci of Brazil and Alejandro Falla of Colombia. Kno wles, Malisse survive 1st r ound MARK KNOWLES JABARI WILMOTT SHOWN (l-r Minister Charles Maynard, BADC chairman Dr Lightbourne, BADC managing director Sam Haven and BADC secretary general Roscow Davies. Bahamas stuns Jamaica F e l i p M a j o r / T r i b u n e s t a f f GO TEAM BAHAMAS: Proud Bahamians cheer and raise their national flags during the semifinals of the 2011 Caribbean Basketball Championships at Kendal Isaacs Gymnasium last night. The host island nation stunned top-ranked Jamaica, 78-75, in overtime. The Bahamas is all set to face off against the US Virgin Islands in the finals of the tourney 8pm Friday (tonight S EE MORE PHOTOS ON PAGES 4 & 5E 21st Caribbean Basketball Confederation Championships Kendal Isaacs Gymnasium...
SPORTS PAGE 4E, FRIDAY, JULY 29, 2011 TRIBUNE SPORTS THE US Virgin Islands stunned top-ranked Jamaica 86-61 to join host Bahamas as the only two undefeated teams left in the 2011 Caribbean Basketball Championships. On Wednesday night (day five Isaacs Gymnasium, Victor Cuthbert led the usual balanced offensive attack from the US Virgin Islands with 25 points, six rebounds, five assists and six steals. Three of his teammates also scored in double figures. For Jamaica, Patrick A Ewing scored 15 points with seven rebounds. With the victory, the US Virgin Islands team stays on top of the standings in Group A while Jamaica falls to second. In the other games played: The British Virgin Islands knocked off St Vincent and the Grenadines, 71-63. Rashid Caan scored 21 points and Kennedy Bass had 15. For St Vincent, Randolph Williams had a game high 23 to maintain his status as the top scorerin the tournament. A lso, Bermuda won 5448 over the Cayman Islands. Jason Lowe led the winning team with 18 points while Jorge Ebanks scored 13 points for Cayman Islands. A nd Antigua beat G uyana 76-51. Lennox McCoy scored 16 points to lead the way as Wayne Walker and Julius Hodge both scored 15 points. For Guyana, Keron McKenzie scored 21 points to leadt he game. US Virgin Islands beats Jamaica 86-61 21st Caribbean Basketball Confederation Championships Kendal Isaacs Gymnasium... The Bahamas prevails over topP h o t o s b y F e l i p M a j o r / T r i b u n e s t a f f
SPORTS TRIBUNE SPORTS FRIDAY, JULY 29, 2011, PAGE 5E BUFFALO, N.Y. (AP Brad Smiths coming to Buffalo, and the wildcat can't be far behind after the multi-talented offensive player agreed to a four-year contract worth about $15 million with the Bills. Smith's agent Mark Bartelstein confirmed his client's agreement and the terms of the contract Thursday. Smith's versatility as a receiver, rusher and ability to take snaps out of the quarterback spot in wild cat formations complements Bills coach Chan Gailey's wide-open offensive philosophy. A four-year NFL player, Smith also has vast special teams experience as a p unt-returner and on cove rage units. In an e-mail to The Associated Press, Smith, a former New York Jet, wrote that he's very glad to be joining the Bills and is excited for the opportu-n ity to play for Gailey. T T i i t t a a n n s s r r e e l l e e a a s s e e Q Q B B V V i i n n c c e e Y Y o o u u n n g g NASHVILLE, Tenn. (AP Titans have released Vince Young, finally cutting ties with the quarterback they made the No. 3 pick overall in the 2006 draft. The team announced the move Thursday, nearly eight months after own er Bud Adams said the team would trade or release Young. Young is 30-18 in five seasons, including a playoff loss. He's battled questions over his work ethic, leadership and injuries. With the new labour deal, the Titans had to move quickly to avoid paying Young a $4.25 million roster bonus that had pre viously been due on the 10th day of a new league year. He also was scheduled for $8.5 million in salary this season, making him too pricey to trade to another team. Bills reach 4-year, $15m deal with WR Smith 21st Caribbean Basketball Confederation Championships Kendal Isaacs Gymnasium... ranked Jamaica, 78-75, in overtime FINALS BOUND: The Bahamas defeated powerhouse Jamaica, 78-75, in overtime Thursday night in the semifinals of the 2011 Caribbean Basketball Championships at Kendal Isaacs Gymnasium. Team Bahamas is all set to face off against the US Virgin Islands in the finals of the tourney 8pm tonight.
SPORTS TRIBUNE SPORTS FRIDAY, JULY 29, 2011, PAGE 7E CHRISTOPHER SANDS on the high seas during the 41st ISAF Youth Sailing World Championship in Zadar, Croatia. He placed 29th overall. ISAF Youth Worlds: Sands ends up 29th overall t here. He briefed the sailors each morning on what to expect conditions-wise on the course before going out and then each evening provided a debrief through videos taken of the sailors while racing during the day. S ands said: "Hugh is really good. He gives u s a lot of local knowledge in the morning and we have debriefings in the afternoon as well. It's a big help." It has only been through the efforts and support of the Bahamas Sailing Association (BSAC lub, Royal Nassau Sailing Club and The B ahamas Olympic Association, that our top junior sailors have been able to participate in this prestigious and important event. Through the BSA, the Bahamas has over the last six years sent sailors to the ISAF Y outh Worlds on five occasions. It is hoped that this practice will continue and that some d ay in the near future we will see the Bahamas represented again in sailing at the Olympic Games. Sands, 17, started sailing when he was just 10. In the last seven years, he participated in the junior sailing programmes of the Bahamas S ailing Association and Nassau Yacht Club. C hris is a multiple time national champion i n optimist, sunfish, laser and snipe. Last year, h e finished in 28th position at the ISAF Youth Worlds in Turkey. M ore recently, he placed 7th at both the 2011 Laser Midwinters East and the 2010O range Bowl Regatta. T he Bahamas Sailing Association (BSA a cts as the governing authority of the sport of sailing in the Bahamas under the supervision of the International Sailing Federation, or ISAF. The BSA's mission is to promote and encourage sailing in all its aspects in the Bahamas. P h o t o b y R o b e r t D u n k l e y F F R R O O M M p p a a g g e e 1 1 E E