N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Volume: 107 No.211TUESDAY, AUGUST 9, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY, T-STORM HIGH 92F LOW 80F B y PAUL G TURNQUEST Chief Reporter p turnquest@ tribunemedia.net FNM Chairman C arl Bethel has con firmed he is consid ering the possibility o f stepping down from his post as chairman of the partyt o focus more on his constituency campaign as the 2012 general election approaches. With initial reports sug gesting Mr Bethel was being removed from his post, the party chairman said he is no way being relieved of his duties. He told The Tribune : Those are just malicious rumours and street talk. I am not being relieved of my duties as chairman. That is something that is not happening. But getting closer to the elections I may make a decision as to what I will do in the short run. I intend on servi ng as chairman until the next convention. I may decide to focus o n my constituency a nd the election itself but if I step down, it will be my decision. A ccording to wellplaced sources within the governing party, i t has been suggest ed that as the 2012 campaign heats up,M r Bethel will likely be replaced with FNM Senator Michael Pintard. Mr Pintard has been shopped around in a number of constituencies but has allegedly failed to garner enough support in any one area to convince party offi cials of his chances, sources claim. However, as a dynamic speaker, with a flare they claim Mr Bethel is lacking, it is believed when the camTRY OUR McFLURRY SNICKERS The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM Carl Bethel hits back at rumours FNM chairman: If I step do wn it will be my decision READ JOHNMARQUIS TODAY THE OLD MOTHER COUNTRY IS NEITHER FAIR NOR FREE SEEPAGEFIVE GOVERNMENTNOTICEONTHEACQUISITIONOFLANDACT INSIDETODAY By CELESTE NIXON Tribune Staff Reporter email@example.com THE US-sponsored community policing initiative will open today, bringing together 24 countries from across the region to discuss effective strategies for community partnership. For the next three days, senior law enforcement officials from the Caribbean will participate in the first Regional Community Based Policing Conference held at the Breezes Hotel on Cable Beach. Chief of Party of USAID-COMET Doug McCaffery said the intention of the initiative is to bring regional countries together to net work and dialogue about best policing practices, initiatives and programmes. The conference is fully funded and sup ported by the United States government and is part of US President Barack Obamas commitment to supporting regional efforts to improve the quality and capacity of Caribbean security institutions to combat transnational crime through the Caribbean Basin Security Initiative (CBSI According to Assistant Commissioner Glen Miller the theme of the conference is geared towards developing a regional approach to community policing. He said the conference is a significant opportunity to develop a platform for effective cooperation between the community and the police. B AHAMAS HOSTS CARIBBEAN POLICE INITIATIVE SEE page nine ASSISTANT COMMISSIONER of Police Glen Miller (above McCaffery (right Tim Clarke /Tribune staff By SANCHESKA BROWN POLICE say they expect a significant drop in armed robberies and house break-ins following the death of twom en over the weekend. Anthro Beano Knowles, 3 6, and Alexander Boy Blue Hepburn were gunned down in two separate incidents. Knowles was shot in the h ead as he played dominoes in the Rock Crusher area off Farrington Road at about8 pm on Friday. He was taken to hospital but died upon arrival. Another man was alsos hot in the incident. He is in stable condition in hospital. According to police sources, Knowles was i nvolved in several armed robberies and housebreaking incidents and was associated w ith an armed robbery ring that targeted western New Providence. He was also onb ail for several matters includ ing threats of death and assault with a deadly weapon while shooting at police. S hortly after Knowless death, police were called to the scene of another murder, t his time in the Nassau Vil lage area. According to police reports, Hepburn was standing in f ront of a building on Alexan POLICE EXPECT DROP IN ARMED ROBBERIES, BREAK-INS AFTER W EEKEND MURDERS SEE page nine GOVERNMENT officials remain tightlipped over why the Bahamas government has failed to co-operate with a longstanding, multi-million dollar bank scandal investigation. Since tracing several hundred million of missing funds to accounts in the Bahamas in 2005, sources claim that local authorities have ignored official requests for assistance the most recent of which was sent in 2008. Foreign news reports indicate that the whereabouts of hundreds of millions of dol lars linked to the collapse of Banco Ambrosiano in the early 1980s is one of the biggest bank scandals in history. The tale of murder, Mafia plots, international money laundering schemes, and clan destine Masonic sects, placed the Bahamas branch of the bank, Banco Ambrosiano Overseas Limited, at the very GOVT OFFICIALS TIGHT -LIPPED ON BANK SCANDAL INVESTIGATION SEE page nine SEE page nine 2 4 COUNTRIES TO PARTICIPATE IN US-SPONSORED EVENT FNM CHAIRMAN Carl Bethel
LOCAL NEWS PAGE 2, TUESDAY, AUGUST 9, 2011 THE TRIBUNE By CELESTE NIXON Tribune Staff Reporter firstname.lastname@example.org A GOVERNMENT grant p rogramme can be a catalyst for change for small business owners and entrepreneurs, according one MP. MP and Minister of Health Dr Hubert Minnis held a Jump Start Entrepreneurf orum at the Breezes Hotel on Cable Beach last week to inform his Killarney constituents and the wider Bahamian community about a government programme geared toward supporting and a ssisting persons with small business ventures. According to Dr Minnis the Jump Start Programme is ag overnment funded grant prog ramme for Bahamian citizens o ver 30 who are looking to e xpand or establish a business. While very few people have a pplied for the programme, Dr Minnis said it is an opport unity for Bahamians to begin o r develop their small businesses and while the grant m ight not seem like a lot, it is a start and can be a catalyst for change and a brighter future. The programme provides e ntrepreneurs with funding u p to $7,500 to purchase equipment, supplies, business a nd accounting services or to assist with the provision of w orking capital. M r Minnis said the idea is t o start small, but think big a nd to understand that change must come from within. Programmes like this are introduced in a recession to make people think outside oft he box, said Mr Minnis. Mr Minnis said it is easy to complain about the ills of s ociety, the economy and c rime, however it is important to stop and look at our selves, at the man in the mirr or and see how we can change. Applications can be subm itted to the Ministry of Finance office in New Providence and Grand Bahama and to the Business License offices in Abaco, Eleuthera and Exuma. For all other islands the applications canb e submitted to the Island Administrators Office. THE Antiquities Monum ents and Museums Corporation has been gifted two mahogany trees by the New Providence Road Improvement and Infrastructure Project. The mature trees, two of s ix recently removed from the Prince Charles Shopping Centre, have been replanted on the grounds of Centreville House, also known as Collins House. We thought it was a wond erful opportunity to make a positive contribution to the efforts of the AMMC, saidS henique Albury, environmental specialist assigned to the road project in the Min i stry of Public Works and Transport. We feel that this is a posi t ive environmental impact. R ather than these trees being lost, the preferred option from an environmental pointo f view is to transplant them r ather than cut them down. Ms Albury explained that the NPRIIP project has a strong environmental component. The contractor has devel o ped environmental management plans that encompass all of the road corridors. Accord ing to the plans, the contrac tor is mandated to transplant any tree that is protected by law, she said. M ahogany trees have been discovered on several of the road corridors that fall undert he NPRIIP. Among them were three trees found on corridor 1A (near the police sta t ion at East Street South) in N ovember 2009. The trees were outside the wall of the junction and in the way, said Ms Albury. We had to straighten the road so we aligned the East Street side, which was really shifted s outh to meet Zion Boulevard. Ms Albury revealed that contractor Jose Cartellone Construcciones Civiles has transplanted more trees than was required by law, includings everal royal palm trees found on Robinson Road, which have been replanted on the new six-legged roundabout. We do not just go and take the trees out of the g round and relocate them, s he explained. The first step is pre-stressing of the tree. This involves a root pruningp rocess where we actually cut around a portion of the root, backfill and leave the tree for a n average of three months. Depending on the species of tree, the time can be longero r shorter. When a portion of the root is cut, it stimulates the tree to start regenerating ther oots that they have lost. W ithin three months new roots can begin to grow, so prior to moving the tree you are allowing it to develop new roots. When the time comes to r emove the tree from the ground and relocate it, the tree would already have begun to grow new roots. In the process of moving, the new roots are normally not damaged. T he four remaining trees removed from Prince Charles Drive were placed on Corri d or 5, the link between Saunders Beach and the sixlegged roundabout. S enior assistant archaeolog ist at AMMC Michael Pateman said the mahogany trees would help bring back the beauty of Centreville House, which is currently under restoration. Minister of Health holds Jump Start Entrepreneur forum D r Hubert Minnis ROAD PROJECT DONATES MAHOGANY TREES TO ANTIQUITIES MONUMENTS AND MUSEUMS CORPORATION A NEW BEGINNING INSIGHT For the stories behind the news, read Insight on Mondays MOVING DAY: A mahogany tree being removed from its Prince Charles Drive location to be transplanted on the grounds of Centreville House. PREPARING: Workers prepare to plant one of the two trees on the grounds of Centreville House. HOISTING: The mahogany tree is hoisted in preparation for planting. L E T I S H A H E N D E R S O N / B I S P h o t o s
By DENISE MAYCOCK Tribune Freeport Reporter d email@example.com FREEPORT Clean-up efforts along the southern shore of Pinders Point are underway following an oil spill in the area on Sunday. While BORCO has claimed no involvement, the oil company d ispatched a clean-up crew to assist with environmental mitigation. Men wearing blue hazmat suits and gloves were seen in the area since Sunday, pouring a yellow-coloured substance on the oil-stained rocky shoreline. The Heritage site in the Pind ers Point community, where the restored lighthouse is situated, has also been affected by the spill. It is not known where the spill originated and investigations are underway by various government agencies and BORCO. Early Sunday, residents noticed a dark oily substancef loating in the water near the shore. Marjorie Darville, a resident, told The Tribune on Monday that there were still traces of oil in the water and on the rocks. They were trying to clean some of it up yesterday (Sundaybut when I went in the area a round 10am this morning (Monday) the water was semi-clear and there was still some (oil left on the rocks, she said. Ms Darville said the rocks at the Heritage site were also cov ered with some of the oil. If the oil is not cleaned up it will turn into tar and it stays ont he rocks forever, and so during hot weather if you step on tar it ruins your shoes. Officials at the Port Depart ment and Environmental Health Department are aware of the situation and trying to assess the spill and determine the cause. When contacted on Monday, P ort official Shannondoar Evans was still awaiting an assessment report. Ms Darville said that oil spills are not a frequent occurrence in Pinder's Point, but happens from time to time. The problem we have when there is a spill is that we can not determine which ship or vessel it is coming from, and that is where the difficulty lies. I know that BORCO was doing some piping in the area, but I cant say that that is the cause. In a press release issued on Monday, BORCO stated that it has no knowledge of the origins and/or source of the material discovered along the shoreline in Pinders Point. We can confirm that on the morning of Sunday, August 7, we were advised that there was an oily looking substance near the shoreline in the Pinder's Point Community. We immediately dispatched a team to investigate, and found an oily material in the water east of the Lucayan Harbour entrance. BORCO has said that its operations have been suspended over the past week due to tropical storm warnings issued by the Government of the Bahamas' Meteorological Department. The company stated that during this period no work has been carried out with vessels at its jetties. As a good corporate citizen, and more important, good corporate neighbours with the capac ity to respond, examine, and manage an oil spill, we dispatched a tug and crew to assist with the environmental mitigation. While our operations were suspended and there is no indica tion of BORCO's involvement, our investigations continue, the company stated. LOCAL NEWS T HE TRIBUNE TUESDAY, AUGUST 9, 2011, PAGE 3 NATIONAL Security officials say they will increase the ranks of the police reserves during the coming year. A t the moment there are 1,000 r eserve officers throughout the country. Minister of National Security Tommy Turnquest said the decision to increase that number is a result of the significant role reservists have been playing, and continue to play, in thew ar on crime and criminality and because of an increased interest from citizens. Mr Turnquest said the move is also part of the police forces effort tos trengthen its partnership with other law enforcement agencies and the community at large, and present a united front in our fight against crime. The involvement of police reservists has been invaluable to achieving posit ive results, Mr Turnquest said. Such c ollaborative measures will surely continue as it proves that the pooling of the various resources at our disposal is the key to making a notable difference in the reduction of crime. T he reserves, which were established in 1965, held an anniversary ChurchS ervice at the Grants Town Wesley Methodist Church Sunday on August 7 to commemorate 46 years of voluntary service. Mr Turnquest said that over the y ears, members of the reserves have consistently volunteered more than 1,800 hours a year to assisting the career force in the prevention and detection of crime and criminality, the apprehension of offenders and the e nforcement of the laws of the B ahamas on islands throughout the archipelago. I have heard divisional commanders regularly comment about the positive impact reservists have in assist-i ng their divisions to implement effective policing strategies, Mr Turnquests aid. Police reserves assist the police force in the maintenance of law and order, the preservation of peace, the protection of life and property, the pre-v ention and detection of crime, the apprehension of offenders and the e nforcement of the laws with which the force is charged. This demonstration of commitment is an indication that reservists are not content to play a passive role within t he police force. Instead, they increasingly devoting more and more of their time and talents to ensuring that the objectives of the police force are achieved, Mr Turnquest said. A FOX HILL man was a rraigned in Magistrates Court yesterday on gun, ammunition and drug p ossession charges. Dario Knowles, a 24y ear-old resident of Step S treet, was charged before Chief Magistrate R oger Gomez in Court O ne, Bank Lane with b eing found on August 4 in possession of a .45 colt pistol and 15 live roundso f ammunition without being the holder of a firearms licence or certificate. Knowles pleaded not guilty to the charges and was granted $10,000 bail. H e was ordered to r eport to Fox Hill Police S tation on Tuesdays, Thursdays and Saturdaysb efore 6pm. K nowles was also charged with possession of dangerous drugs with the intent to supply. I t is alleged that he was found with a quantity of Indian Hemp. H e was granted $10,000 bail with the same stipulations as the other case. B oth cases were a djourned to August 16. By DENISE MAYCOCK Tribune Freeport Reporter firstname.lastname@example.org FREEPORT Following her arrest in New Providence over the weekend, Daisymae Johnson was arraigned Monday in the Magis trates Court on multiple chargesof stealing. Johnson, 57, was charged with a total of 21 counts of stealing by reason of service. She was represented by Murrio Ducille. Due to the numerous charges against her, Johnson was arraigned in Courts 1, 2, and 3. It is alleged that Johnson collected funds from customers between 2009 and 2010, which they incorrectly believed to be down payments on homes or property in Freeport. Johnson was not required to enter a plea to the charges. She was remanded to Fox Hill Prison until October 25. POLICE RESERVE NUMBERS TO INCREASE IN THE COMING YEAR OFFICERS march to commemorate 46 years of voluntary service. MAN IN COURT ON FIREARM, DRUG CHARGES COURTNEWS CLEAN-UP UNDERWAY AFTER OIL SPILL SOUTHERNSHOREOFPINDERSPOINT SIGNS of the clean-up at Pinders Point Photos/Marjorie Darville A SUPREME Court justice will decide today if a rape, bur glary and armed robbery case dating back six years will proceed. Justice Vera Watkins will determine whether a no case submission made by defence attorney Raymond Rolle on behalf of the accused, Oscar Ingraham, 26, has merit. It is alleged that between June 15 and 16, 2005, Ingraham broke into the female victims home armed with a knife, raped her and stole cash and a cell phone. In his submission, Rolle argued that the prosecution presented no evidence connecting Ingraham to the burglary or armed robbery, and that the only evidence linking Ingraham to the incident was DNA. He suggested that doubt may have been cast on the integrity of this evidence by the manner of its collection and handling by the police prior to testing in a foreign laboratory. Prosecutor Linda Evans responded, arguing that testimony from the virtual com plainant and a match between the DNA taken from the accused and samples found at the scene represent sufficient evidence to connect the accused to the crime. She also pointed out that according to witness testimony, proper protocol was followed in handling the evidence. JUDGE T O DECIDE IF RAPE, BURGLARY, ARMED R OBBERY CASE WILL PROCEED WOMAN APPEARS IN COURT ON CHARGES OF STEALING DAISYMAE JOHNSON
E DITOR, The Tribune. Recently Sir Sol Kerzner, o wner of The Reef Condo/Hotel project located on Paradise Island, saw the need to stimulate sales activ-i ty in a soft market by reduc i ng the established asking prices of the condos by 40 per cent. This representsp rices at pre-construction levels when The Reef was being built. Why do this? Ina soft real estate market t ough decisions that make fiscal sense need to be made to stimulate buyers to take the risk to invest. My question is what has our recent Government done to stimulate real estate sales for our economy? The government has done the complete opposite. (1 t he Stamp Duty across the board by 2 per cent with the high end properties totalling1 2 per cent. (2 the annual Real Property Tax burden by almost dou-b le. ( 3) They have also stated they will decide what the proper sales price should bew hen conveying a property even though the market determines market value when there is a willing buy e r and a willing seller. I refer to these three points as a bad cocktail. One that has shown to discourage sales and one that con tinues to stifle sales activity. The Real Estate indus try plays a critical role in any economys financial success. The domino effect of not making sales is quite obvious and need not be addressed in this article. In todays market most agents are discounting their fees, as are lawyers and bankers. The one constant that has not changed is the Governments policies. In recent news releases it has been reported of the constant decline in stamp tax revenue due to a lack of sales activity. This number s peaks volumes for the need to change the current Governmental policiesf avourably in order to stimulate the Real Estate mar ket. We can all agree that Sir S ol is a very smart business m an. For a short time he is offering this 40 per cent reduction which already hasr esulted in nearly $20 million in sales of which the Government is due to make over $2 million in revenue.P erhaps, our Government will consider offering a short term policy that will stimulate the real estate market and encourage buyers to buy. Our country needs real estate transactions. They are a very important part of or nations financial well-being. With the up and coming General Elections I am very interested to know what the policies of each party will be for our industry moving for ward. I encourage all voters, especially realtors, bankers and service providers to take this matter seriously. MARIO A. CAREY, President and CEO, Mario Carey Realty, Nassau, July 28, 2011. EDITOR, The Tribune. SOMEprocrastinators are suggesting that our econom y is coming out of the r ecession there are no signs unless you solely look a t the cruise ship arrivals as t hey are the sole positive pointer at this time. Ask any o f the house maids of any o f the hotels how much their t ake home pay has dropped to? E mpowering cruise ship c aptains to officiate as Bahamas Marriage Officers is quite amazing, seeing that this area is a well developed sector providing hundreds of Bahamian employment, good revenue flow to the h otels, taxis, restaurant, f lorists, etc and of course T he Treasury. A las our Government s eems to put a death-wish o n them, as if because of their success they must be controlled and their business limited. Editor, who is the idiot ( that word is very polite) in this day to even suggest such a proposal? T he primary source of o nland weddings is the US t he US economy is hard p ressed still, so any means w here large savings in cost t o marry will be well received. To marry on a cruise boat will save you hundreds and kill our business. Simply this government has put the death-wish on o ur established wedding b usiness and opened a fur ther profit centre for carnival and all their associated companies. What will we get b ack? The registration fee t o the Registrar of Marr iages. T here is another problem, that frequently there are some large foreign weddings, but the planning, execution and providing for t hese events are not in the h ands of licensed Bahamians the family sign-up US w edding providers and the f oreign entity pirates the wedding under the nose of I mmigration and prejudici ng Bahamian wedding o rganisers unfortunately you always find oneu nscrupulous local provider w ho will act for the foreign entity, so that to get around local regulations...these events are big expenditures of over $150,000 and up, but little is left here. Let us employ a foreign e ntity to run Government w e finally might have some s ensible thinking administ rators who will provide for t he Bahamians first. B. FERGUSON, Nassau, July 17, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, TUESDAY, AUGUST 9, 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 WHEN WE first joined The Tribune more than fifty years ago, there were no files that contained a business contract anywhere in the then small building. All trans actions were the result of a gentlemans agreement sealed with a handshake. It seemed to work fairly well. Today progress has brought written contracts, but there are times when they are not worth the paper they are written on. Recently, when we spoke with someone on behalf of a person who was having difficulty collecting payment for work he had completed, we were informed by the person who was dealing with the payment that if the matter went to court, the company would be closed and the complainant would get nothing. Thats justice and honest business deal ings for you, but it is also progress after all we do have written contracts. However, inthe interim we have lost integrity, honesty, and a sense of responsibility. We have graduated from the age when children were seen, but not heard to a society of vocal, often rebellious and destruc tive youth. They respect no one not even themselves many believing that whatever they want they can steal from a hard working neighbour. After all during the narco years, when drugs were the going currency, didnta cabinet minister in the heat of a public gruelling, blurt out that it was nobodys busi ness how he made his money whether he worked for it or tiefed it? School essays expressed the ambition of many children that they wanted to follow the career path of their fathers, uncles or brothers as drug dealers. In those years drugs seemed to open a magic door to wealth and upward social movement. Mans lofty spirit was debased by materialism. Need we wonder why crime is out of con trol. Today we are being held hostage by the products of those years. We have problems in our schools, and we wonder why. Discipline, common cour tesy and respect have all but disappeared from the schoolyard. Why, we ask? We remember a time when if a child were disci plined at school he took his punishment and made no complaint at home, because he knew that more punishment would follow for disrespecting his teacher or breaking school rules. Not so today. The precious little darlings trot home with a tale of woe and the next day a rowdy parent marches to the school to beat up the teacher. No need to wonder whats wrong with todays youth just look to the parents. There are no longer rules for them, discipline has gone out of the window, the child gets what he or she wants. They looked down on honest labour. We recall a day when a mother telephoned ask ing us to do a story about a hotel whose manager had the effrontery to ask her daughter to scrub a dirty floor. She had called the wrong person for sympathy. The only way that we knew how to get a dirty floor clean, despite all the modern gadgets, was to get on hands and knees and give it a good scrubbing. Having done it ourselves while at school in England, we saw nothing wrong with it. No wonder in those years the government-owned hotels looked so distressingly shabby. The late Sir Lynden Pindling lived long enough to accept that his beliefs in making life too easy for the youth was their undoing. We are falling backward with sophistication, because we have got slack and weve got lazy and weve got sophisticated over these last 20 years and thats our fault. I accept responsibility for that, he said. He might have accepted responsibility, but today we are suffering from those years of over indulgence when good manners, hard work, honesty, and discipline was under mined. Sir Lynden lived long enough to understand why Haitians had to be employed to do the work that Bahamians once did. He was distressed when told by the new Bahamian that Haitians supposed to do that. We told them that they were too good to be gardeners, too good to be sanitation men, too good to work with their hands Sir Lynden admitted. But, I didnt know then what I know now, that any work breeds character. Too many young men lack character today; too many, too often shirk responsibility because they have never been held accountable for their actions at home, in school or in society. Therein may lie the heart of the problem, he admitted. The only way that we can rid ourselves of crime is to get back to basics discipline, good manners, hard work, respect and love for our God, our parents, ourselves, our neighbours, our community. We have to dust off the Ten Commandments and teach them to our children from the cradle. In other words our misplaced progress has led us astray. As a community we have to start all over again. We cannot afford to wait. Now is the time. Death-wish on wedding business LETTERS email@example.com Its now time to get back to basics How to create r eal estate sales in a soft market
T HE Bahamas, like a ll former British c olonies, has a legal a nd parliamentary system based on English t raditions dating back many centuries, with r ights earned through a long history of warf are and social u pheaval. However, t he British people now f ind themselves in a new fight for basic f reedoms, with the courts and parliament c lashing over what they have a right to k now. JOHN MARQ UIS reports A NYONE who followed closely the case of soccer star Ryan Giggs in the British courts must have come to the wholly justifiable conclusion that the old country the so-called cradle of freedom and justice is not what it used to be. There was a time when Britain, its human rights enshrined in the Magna Carta, signed by King John eight centuries ago, was held up as the ultimate example when it cameto matters of free speech and personal liberty. In fact, it was quite touching during my Bahamas years to hear former colonials laud the mighty precedents set by dear old England, traditionally seen by its admirers as a bastion of unshakeable rectitude and infallible judgment. All former colonies even America, the first to reject Londons rule conceded that, whatever its faults, Britain had virtues no other nation could surpass when it came to fair play, transparent justice and everyday human rights. Not anymore. Giggs, a supremely gifted player who was nearing the endof his glittering career with a squeaky clean reputation and a professional record second to none, is said to have paid a Lon don law firm ,000 to keep his alleged sexual indiscretions out of the papers. He was shelling out a thousand dollars an hour to lawyers whose specialty is to shield high-profile clients from the prying of the press. Not only had he taken out a super-injunction to prevent exposure of his dalliance with a so-called TV reality star, he had threatened to sue the social networking site Twitter through the US courts because his name had been leaked by several thousands of its users. In itself, what Giggs allegedly got up behind his wifes back was of little account to anyone except those who find fascination in such matters. But his actions have highlighted one of many gaping flaws in Britains current laws, and lent his name for all time to an insidious process of suppression which, fuelled by lawyers greed, seeks to erode peoples rights and silence the media. So serious were the implications of Giggs actions that judges began threatening par liament with dire consequences if one of its members dared to use the players name in the Chamber, declaring in effect that even parliamentary privilege could not be allowed to trump an injunction handed down in the High Court. For historians, this unseemly bust-up between the legislature and the executive was reminiscent of King Charles the Firsts actions in 1642, when he highhandedly marched his troops into parliament to threaten the peoples representatives. He took the view that, as a supreme ruler with divine powers, he was not subject to the criticism and scrutiny of the rabble and that his own survival and well-being were above all other considerations. Seven years later, King Charles after a bitter and bloody civil war was to pay with his life on the chopping block outside the Banqueting Hall at Whitehall, a significant move by parliament in reinforcing the rights enshrined in the great charter signed at Runnymede in 1215. You would think that, having been through so much bloodshed and upheaval in establishing basic rights over so many centuries that Britain would be hell-bent on protecting itself from the incursions of ruthless, avaricious and deceitful elements in society. But since the late 1990s, when the most destructive British gove rnment of modern times took office for 13 truly awful years of decline, a country once held up as the democratic ideal has surrendered many of its hardearned rights not only to the evil influence of political correctness but also to a foreign power in Brussels. I n fact, European human rights law is at the root of Britains present predicament. While it sounds fine and dandy in principle, this law has led to the spread of privacy legislation which, as interpreted by the London courts, is a dangerous threat to many of the freed oms that Britain and its former colonies have traditionally held dear. Whatever its supposed merits, the reality is that it is available only to those with very deep pockets who can afford to splash out the equivalent of $80,000 to petition for a judges decrees ilencing not only the press but anyone else rash enough to expose the applicants identity. It is, in fact, a court-approved shield for those who profit from being one thing in public and something else entirely in private. It is a deceivers charter, a means of bamboozling the public into believing something that isnt true. So far, those who have made use of it, generally sports and showbiz personalities, are people whose indiscretions dont amount to much when it comes to the potential impact on the national interest. But you dont have to look far for examples where its implications could be very serious indeed. Imagine, for instance, the case of the American politician John Edwards, who promoted himself as a down-home family man deeply concerned with the health ofhis cancer-stricken wife while running for the Democratic partys presidential nomination some years ago. Had British-style privacy law been available to him, he would have been able to stifle in advance the National Enquirers revelations that he was having an affair with a woman photographer during his campaign. Thus, his own carefully coiffed image as a straight-talking regular guy who cared deeply for his wife would have prevailed over the reality, which was that he was a two-timing deceiver unworthy of the publics support. In the Bahamas, it would, of course, have had serious implications in the much-publicised friendship between then Immigration Minister Shane Gibson and the American starlet Anna Nicole Smith in 2006 and 2007. While nothing untoward was ever suggested in this instance, the closeness or otherwise of Mr Gibsons friendship with Ms Smith was extremely pertinent to the granting of her residency permit. Theoretically, Mr Gibson would have been able to apply for an injunction to prevent The Tribune or any other newspaper from divulging that he was apparently a much closer friend than he claimed to be. Even more disturbingly, had he got wind of those famous photographs showing him embracing Anna Nicole on her bed at her Nassau home, he would have been able to apply for their suppression through the courts. There is, in fact, a public interest provision built into British privacy law which enables the courts to overrule an injunction application if it is felt that it would not serve the public good. Hence, the footballer John Terry failed in his attempt to secure an injunction against a newspaper that wished to publish a story about his affair with a colleagues former girlfriend because the judge felt he was merely trying to protect his sponsorship arrangements. T HE TRIBUNE TUESDAY, AUGUST 9, 2011, PAGE 5 0$5.(7,1* '(17 1(('(' M ARQUIS AT L ARGE THE OLD MOTHER COUNTRY IS NEITHER FAIR NOR FREE SEE page 11 F OOTBALLER RYAN GIGGS IS SAID TO HAVE PAID A LONDON LAW FIRM 250,000 TO K EEP HIS A LLEGED SEXUAL INDISCRETIONS OUT OF THE PAPERS.
T HE man who lobbed a foam pie at Rupert Murdoch has had his jail term reduced thanks to the barrister son of The Tribunes former managing editor. Defence advocate Piers M arquis successfully argued for a lower sen tence for comedian JonnieM arbles, whose six-week t erm for assault was cut to f our after the judge was told it was a protest by prank. M r Marquis told South wark Crown Court in London that Marbles had not intended to harm them edia mogul. The foam pie, he added, had been a staple of slap stick comedy for years. They have been comedy for generations precisely because they are harmless.I t would not be funny in a ny circumstances if they were not, he said. He said Laurel and Hardy, the Three Stoogesa nd Monty Python had all used foam pies. Hacking Marbles, real name J onathan May-Bowles, pleaded guilty to assault last week after lobbing the f oam pie at Mr Murdoch during a parliamentary select committee hearing into phone hacking on the tycoons now defunct paper, The News of the World He was jailed for six weeks, but immediately announced his decision to appeal. At the appeal hearing, Judge Anthony Pitts reduced the sentence but said the defendants action must have caused fear for Mr Murdoch and members of family sitting nearby. He felt, however, that the sentencing judge had not given sufficient attention to the defendants guilty plea. In court, Mr Marquis argued that Mr Marbles had not pushed the pie into M r Murdochs face but had lobbed it at him. Mr Marbles assaulted Mr Murdoch after the media mogul had told the select committee This is the most humble day of my l ife and apologised for the actions of News of the World staff. M r Marquis, 38, is the s on of former T ribune m anaging editor John Marquis, who retired in 2009 and now lives in England. V oice He told The Tribune : News International is the media Goliath. Its voicec an be heard in every corner of the western world. It influences the thoughts and voting patterns of mil l ions of people. It has the power to topple governments... it has politicians and officers at its beck andc all. Mr May-Bowles is just a man on the street. His con c ern was the disrespect T he N ews of the World h ad shown to the many men and women on the street who had had their privacyi nvaded and had been let down by the paper they read. He gave voice to that c oncern with a harmless gesture. His father said: Piers is passionate about his work and likes to defend the powerless against the powerful. I'm very proud of him. Recently, Piers and his father flew to New York to meet the American mur deress Sante Kimes, who lived in Nassau for four years in the early 1990s. Their meeting was the subject of a Tribune article last week (http://www.tribune242.co m/editorial/Col umn/08022011_JOHNMARQUISCOLUMN_opi nion_pg). He practises at the criminal Bar in London and has built a reputation in the human rights field. LOCAL NEWS PAGE 6, TUESDAY, AUGUST 9, 2011 THE TRIBUNE SON OF F ORMER TRIBUNE MANAGING EDITOR HELPS REDUCE MURDOCH PIE MANS SENTENCE MPS HEARING, JULY19: Comedian Jonnie Marbles (far left aims a foam pie at Rupert Murdoch (hidden wife Wendi Deng (left in light jacketAP S IX WEEK TERM FOR ASSAULT CUT TO FOUR C OMEDIAN J onnie Marbles, real name Jonathan May-Bowles. (AP Share your news The Tribune wants to hear from people who are making news in theirn eighbourhoods. Perhaps you are raising funds for a good cause, campaigning f or improvements in the area or have won an a ward. I f so, call us on 322-1986 and share your story.
T HE TRIBUNE TUESDAY, AUGUST 9, 2011, PAGE 7 PROSPECTUS THEGOVERNMENTOFTHECOMMONWEALTHOFTHEBAHAMAS BAHAMASREGISTEREDSTOCK2016,2018,2020,2026,2028AND2032 ISSUEOFB$100,000,000.00 IssuedunderTheBahamasRegisteredStockAct,andauthorizedbyResolutionsoftheHouseofAssembly,9th June,2011. ApplicationswillbereceivedbyTheBankingDepartmentbeginningat9:30amon3thAugust,2011andwillclose at3:00pmon11thAugust,2011.Allocationswillcommenceat9:30a.m.on12thAugust,2011andwillceaseat 3:00p.m.on15thAugust,2011. IfthetotalsubscriptionsexceedthesumofB$100,000,000.00(Nominal)partialallotmentwillbemadeto subscribers,andaproportionaterefundwillbemadeassoonaspossibleafterallotment.Nointerestwillbepaidon amountssorefunded. ThedateofthisProspectusisAugust2,2011 TheGovernmentofTheCommonwealthofTheBahamasinvitesapplicationsforBahamasRegisteredStock totallingB$100,000,000.00.TheStockwillbeavailableinarangeofmaturitydates;theearliestbeingrepayablein 2016andthelatestin2032.ThetotalamountofStockoffered,therateofinterestandtheissuepricearegivenbelow:RateofInterest NameofStock Amount B $ I ssuePrice B$ P r imeRate B ahamasRegis t eredStock20 1 6 5 0 00,000.00 1 00.00 1 / 6 4 % A bovePrimeRate B ahamasRegisteredStock20 1 8 1 0 000,000.00 1 00.00 1 / 3 2 % A bovePrimeRate B ahamasRegisteredStock20 2 0 1 0 0 00 000.00 1 00.00 5 / 64 % AbovePrimeRate BahamasRegisteredStock20 26 20 ,0 00,000.00 100.00 3 / 32 % AbovePrimeRate BahamasRegisteredStock20 28 3 0,000,000.00 100.00 1/ 8 % AbovePrimeRate BahamasRegisteredStock203 2 2 5 ,000,000.00 100.00 1 0 0 ,000,000.00 TheStockshallberepaidon15thAugust,intheyearappearinginthenameoftheStock. INTEREST TheStockwillbearinterestfrom15thAugust,2011,attherateshownagainstthenameoftheStockasthepercent perannumoverthePrimeRate(i.e.theprimecommercialinterestratefromtimetotimefixedbytheClearingbanks carryingonbusinessintheIslandofNewProvidenceinTheBahamas.Ifthereshallbeanydifferencebetweenthem, thenthatwhichisfixedbyRBC RoyalBank(Bahamas)Limited.Interestshallbepayablehalf-yearlycommencingon 15thFebruary,2012andthereafteron15thAugustand15thFebruaryineveryyearuntiltheStockisrepaid. CHARGEUPONCONSOLIDATEDFUND TheprincipalmoniesandinterestrepresentedbytheStockarechargeduponandpayableoutoftheConsolidated FundandassetsofTheCommonwealthofTheBahamas. SUPPLEMENTARYPROVISIONS IssueofStock TheStockwillbeissuedbytheRegistrar(TheCentralBankofTheBahamas).Applicationswill bereceivedbyTheBankingDepartmentbeginningat9:30a.m.on3th August,2011and willclose at3:00p.m.on11thAugust, 2011 .Allocationswillcommenceat9:30a.m.on12thAugust,2011 andwillceaseat3:00p.m.on15thAugust,2011.Allenvelopesenclosingapplicationsshouldbe labelledApplicationForBahamasGovernmentRegisteredStocks Units TheStockwillbeinunitsofB$100.00. Applications ApplicationsmustbeforB$100.00oramultipleofthatsum. ApplicationForms ApplicationsfortheStockshouldbemadetotheRegistrarontheformattachedtothe ProspectusandmaybeobtainedfromtheRegistrarofficesinNassauandFreeport,TheTreasury Department(TheNorthBuildingatWaterTowerPlace,EastStreet,Nassau).Applicationsmayalso bedownloadedfromtheCentralBankoftheBahamaswebsiteat www.centralbankbahamas.com or anyofthefollowingbanks:1.BankofTheBahamasInternational 2.FirstCaribbeanInternationalBank(Bahamas)Limited 3.FinanceCorporationofBahamasLimited 4.CommonwealthBankLimited 5.RBC RoyalBank(Bahamas)Limited 6.Scotiabank(Bahamas)Limited 7.FidelityBank(Bahamas)Limited 8.Citibank,N.A.PUBLICDEBT ProvisionalestimatesfromtheunauditedaccountsasatMarch31,2011showthePublicDebtofTheBahamastobe B$4,280,858,000.* GOVERNMENTREVENUEANDEXPENDITURE ThefollowinginformationisextractedfromtheunauditedaccountsoftheGovernmentofTheCommonwealthof TheBahamas. FY2009/2010p**FY2010/2011p**FY2011/2012p** B$B$B$ ApprovedBudgetApprovedBudget Revenue1,302,543,0001,492,159,0001,520,189,000 RecurrentExpenditure(excluding RepaymentofPublicDebt)1,395,892,0001,467,170,0001,597,958,000 CapitalDevelopment Expenditure(excludingloans contributionsandadvances topubliccorporations) 156,757,000227,579,000237,303,000 **Provisionalestimatesfromtheunauditedaccounts. *ThePublicDebtamountisinclusiveofThePublicCorporationscontingentliabilitywhichasatMarch 31, 2011totalledB$540,489,000. THEGOVERNMENTOFTHECOMMONWEALTHOFTHEBAHAMAS BAHAMASREGISTEREDSTOCK2016,2018,2020,2026,2028AND2032 F OROFFICIALUSEONLY A PPLICATIONNo A LLOTMENTNo. DATE: T heRegistrar c/oTheCentralBankofTheBahamas P.O.BoxN-4868 Nassau,Bahamas S ir: I/WeherebyapplyforthefollowingamountofBahamasRegisteredStock: Insertbelowtheamountappliedfor i nUnitsofB$100 P rime Rate B ahamas Registered Stock 20 1 6 B $ 1 / 64 % Above Prime Rate Bahamas Registered Stock 20 18 B$ 1 / 32 % AbovePrime Rate Bahamas Registered St ock 20 2 0 B$ 5 / 6 4 % Above Prime Rate Bahamas Registered Stock 20 26 B$ 3 / 32 % Above Prime Rate Bahamas Registered Stock 202 8 B$ 1 / 8 %Above Prime Rate Bahamas Registered Stock 203 2 B$ andundertaketoacceptanylessamountwhichmaybeallottedtome/us. I/WeencloseB$inpaymentfortheStockappliedfor. I ntheeventofthefullamountofStock(s)appliedforaboveis/arenotallottedto me/us,I/werequestthatthesumrefundabletome/usbeappliedforthefollowingStock: % BahamasRegisteredStockB$ PAYMENTSINEXCESSOFB$50,000.00 MUST BEMADEVIAREALTIMEGROSSSETTLEMENT SYSTEM(RTGS)THROUGHALLCOMMERCIALBANKSEXCEPTFINCO. PAYMENTSOFB$50,000.00ORLESSCANBEMADEVIAREALTIMEGROSSSETTLEMENT SYSTEMORBYBANKDRAFTPAYABLETOTHECENTRALBANKOFTHEBAHAMAS PAYMENTSOFB$5,000.00ORLESSCANBEMADEVIAREALTIMEGROSSSETTLEMENT SYSTEM,BYBANKDRAFTPAYABLETOTHECENTRALBANKOFTHEBAHAMASORBY CASH. ALLNEWINSTITUTIONCUSTOMERSMUSTPRESENTALISTOFAUTHORIZED S IGNATORIESALONGWITHMEMORANDUMORARTICLESOFASSOCIATION.1.(OnePerson) OrdinarySignature NameinFull(BLOCKLETTERS,statewhetherMr.,Mrs.,orMissandtitlesifany.) Address(Corporationsetc.shouldgiveRegisteredAddresses) P.O.Box TelephoneNos.(H)(W) 2.(Wheretwoormorepersonsapplyasjointsubscribers,theadditionalnamesandaddressesshould begivenbelow.) OrdinarySignatures NamesinFull And/OR Address TelephoneNos.(H)(W) I/Weherebyrequestsemiannualinteresttobepaidto: BankName BankBranch Account Number THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS BAHAMAS REGISTERED STOCK 2016, 2018, 2020, 2026, 2028 AND 2032 ISSUE OF B$100,000,000.00 B y US AMBASSADOR N ICOLE AVANT MORE than 70 high level law enforcement representatives from 23 Caribbean countries are gathered in Nassau to participate in the three-day Caribbean Basin Security Initiative (CBSI ference focused on community based policing. At its core, CBSI is a partnership between the United States and Caribbean to enhance safety by addressing increasing crime and violence in the region and ensuring citizens become active stakeholders in the safety and security of our communities. U S President Barack Obama i s firmly committed to this vision demonstrated by the United S tates investment of $77 million t hrough CBSI to support a variety of activities in the region in the coming year aimed at enhancing law enforcement capabilities, expanding crime prevention programmes and s trengthening resources related to controlling maritime borders. This weeks conference focused on community based policing is testimony to the achievement of CBSI in encoura ging regional security cooperat ion in combating transnational crime. C ommunity based policing is i n essence an collaboration b etween government, law e nforcement officials and memb ers of the community with the g oal of proactively identifying conflicts within communities before they have the chance tos piral out of control. Some have described community based policing as democracy in action because it requires the active participation of local government, civic and business leaders, public and priv ate agencies, residents, churches, schools and hospitals. Indeed, all who share a concern for the welfare of their neighbourhood must help bear responsibility for safeguarding t hat welfare. T he conference will also focus on youth, which comprise a large a nd growing segment of the C aribbean population and are o ften the largest group of perp etrators and victims of violent c rime. F inding ways to help at-risk youth build durable positive relationships with their communitiesa nd with law enforcement agencies early in their lives is crucial to deterring crime and reinvigorating neighbourhoods throughout the region. I applaud the Royal Bahamas Police Force for their ongoing e fforts to address and promote public safety and for their commitment to engaging local residents through community walkabouts and youth sports programmes. H owever, as I have seen in m ajor cities throughout the United States, combating crime is not s imply the responsibility of the p olice it involves everyone. I t will require a whole of gove rnment approach in conjunct ion with civil society, churches a nd the business community to rebuild local trust, break the cycle of violence, and foster theg rowth of safer communities throughout the Bahamas. BUILDING SAFER NEIGHBOURHOODS THROUGH COMMUNITY BASED POLICING NASSAU HOSTS CARIBBEAN BASIN SECURITY INITIATIVE US AMBASSADOR TO THE BAHAMAS Nicole Avant
centre of the scandal. According to the press in Italy and the UK, Italian pros ecutors are looking for funds allegedly squirreled away by former bank chairman Roberto Calvi, known as "God's banker" because the Vatican Bank was the largest sharholder. In years leading up to the collapse, Calvi set up companies in the Bahamas and South America to which he funnelled hundreds of mil lions in bank funds. It is claimed that $800 million in total went missing. Following the bank's collapse, Calvi was found dead in London in 1982, hanging bythe neck from Blackfriar's Bridge. There have been several trials and investigations into the circumstances surround ing his death. Italian courts have ruled it a murder, rumoured to be a retribution hit for the loss of Mafia money during the collapse. In 2005, Italian investigators claimed to have traced several hundred million of the missing funds to accounts in the Bahamas. The prosecutors were said to have been eager to follow this lead, however as UK newspaper The Observer reported in August of that year, "Police sources in London indicated that the authorities in the Bahamas have been slow in supplying them with details associated with the accounts." Reports in the Italian press from 2009 indicate that two years on, little had changed. Calls to Attorney General John Delaney who would have been privy to the request sent in 2008 for comment remain unreturned. LOCAL NEWS T HE TRIBUNE TUESDAY, AUGUST 9, 2011, PAGE 9 paign comes down to the wire another option would be required to answer the PLPs chairman Bradley Roberts. When contacted yesterday, Mr Pintard said he had no comment on the reports that he would be replacing Mr Bethel. Carl Bethel has done an admirable job as chairman. There is no denying that. He was asked to take on a considerable bur den and it would be unfair to ask him to hurt his chances in Sea Breeze by diverting his attentions to a national campaign, anFNM insider claimed. R esearch throughout America and the Caribbean basin has shown police and practising community policing in one form ora nother, said Mr McCaffery. Community policing is about appropriate policing if you take the pure model the endr esult should be intelligence led policing with the community feeding so much information into the police system that the police are literally on the front line, said Mr McCaffery. H e added, particularly in island nations where there are smaller communities, most members know what is going on in their neighb ourhood, what crimes are being committed and who are perpetrating them. Bertrand Laurent, regional governance and c ommunity security specialist, said this type of policing is particularly relevant to youth issues as it gives police the opportunity to conn ect and build stronger relationship and interaction with the youth as well as to develop youth-based programmes. He said: One trend that is interesting to t ake note of is the increasing youth issues throughout the region there is a rapidly increasing youth population throughout theC aribbean and along with that has come an increase in different types of issues surround ing the youth. M r Laurent said a persons first experience with the police very often sets the foundation on how they perceive and interact with author ities and by extension the state, community p olicing is a way to establish positive rela tionships. FOR US AMBASSADOR NICOLE AVANTS STATEMENT ON THE CONFERENCE, SEE PAGE 7. dria Boulevard when he was approached by a gunman, who shot him several times about the body. He died at the scene. J ust like Knowles, police say Hepburn was well known to police for armed robbery and h ousebreakings, however he targeted no specific areas. He too was on bail for assault with a deadly weapon. Superintendent Stephen Dean confirmed the men were well known to police but was tightlipped on the specific charges attached tot hem. They have been in and out of the system a nd we know them well but whether they w ere criminals or not, we will still investigate the murders with professionalism. We do not have any suspects at this time, but we are confident that we will have a break in both cases very soon. Supt Dean also said he does not believe t he murders were related. T hese latest homicides take the countrys murder count to 87. Police are appealing to the public who may have information to contact police at 502-9991 502-9910 or Crime Stoppers at 328T IPS. THE B AHAMAS HOSTS CARIBBEAN POLICE INITIATIVE FROM page one GOV T OFFICIAL S TIGHT-LIPPED ON BANK SCANDAL INVESTIGATION FROM page one Carl Bethel hits bac k at rumours FROM page one POLICE EXPECT DROP IN ARMED ROBBERIES, BREAK-INS F ROM page one BERTRAND LAURENT regional governance and community security specialist.
$4. 68 $4. 51 $4. 69T he information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.35 $5.39 $5.55 T HETRIBUNE SECTIONB firstname.lastname@example.orgTUESDAY, AUGUST 9, 2011 nrrntb" nn(&" '!$!%"#!%! % % f!"#$! $$tft# bnbrn B y NATARIO McKENZIE Tribune Staff Reporter email@example.com T HE governments subs idised work-placement init iative could lead to permanent employment for manyo f the 3,000 to be accepted t o the programme. Winston Rolle, president of the Bahamas Chamber of Commerce and Employers Confederation (BCCEC Tribune Business yesterday there is a keen interest from the priv ate sector towards the ini tiative. H e said: We have had a v ery goods response from o ur members in terms of them wanting to place individuals and not just one ort wo but in some cases persons have asked for quite a number of persons to be placed in their establishments. Some businesses are using it to sure up some of t hings they may need, in f act one business I spoke with is about to open a new b ranch and are going to use t hose persons and once it g ets beyond that point those individuals will be permanent employees. T he initiative will have an impact in several ways. Mr Rolle explained: First of all, it will be impactful for the period of time those persons are actu ally engaged in employment. It is also hoped some of those positions, even though the programme is designed initially to be for o ne year, will actually turn i nto permanent placement once they perform adeq uately and obviously once t he business is there to just ify and support them. I also know that there are some people who justm ay be getting started and are looking to see how they can combine the unem ployment programme with the quick start programme. There certainly seems to be a keen interest in it and persons are trying to see how best they can utilise their resources to their advantage. D uring his contribution t o the 2011-2012 Budget, Prime Minister Hubert I ngraham unveiled plans f or a $25 million National J ob Readiness and Training Programme, along witha subsidised work-placem ent in the private sector. Employers who hire someone referred by the Ministry of Labour and Social Development will receive a wage subsidy of a percentage of that employee's wage, up to $210 per w eek for up to 52 weeks. N early 13,000 people h ave applied for the National Job Readiness and Training Programme, far exceeding the 3,000 spots s et aside for the initiative. Some 150 businesses have reportedly registered to p articipate in the program a s employers. S ome 8,721 people regist ered in New Providence; 2 ,528 in Grand Bahama; 4 86 in Eleuthera; 359 in Andros; 286 in Abaco; 116 in Exuma; 67 in Inagua; 45 in Long Island; 40 in Cat Island; 37 in Acklins; 32 in San Salvador and Rum Cay; 25 in Bimini; 24 in the B erry Islands; 19 in M ayaguana and 15 in Crooked Island. By NATARIO McKENZIE T ribune Business Reporter firstname.lastname@example.org THE bidding process for g overnment contracts in the northern Bahamas was deemed yesterday as unfair by Reef Construction Limited president Vernon Wells who told Tribune B usiness that if current trends continue he would b e forced out of business. M r Wells comments came yesterday in response t o a Tribune Business artic le relative to the contract f or upgrade at the Marsh H arbour International Airport. While Minister of W orks Neko Grant remained tightlipped on whether the contract hadb een awarded for the long a waited airport upgrades, t he Tribune has learned that the project has been awarded to FES Construction Limited. Mr Wells said that his Freeport based con s truction company had also placed a bid for the job at $28.559 million which he claimed was $180,000 lower than FES. I dont think it makes m uch sense bidding for anyt hing anymore. FES has gotten all of the govern ment jobs. With all due r espect, FES does really good work but its not a fair field. Its just quite unfairh ow the whole thing is done, its a farce the way contracts have been awarded. Im sure they have the r ight to choose who they feel comfortable with but these are public funds. If t hey were paying for this out of pocket you wouldnt have heard a word fromm e, Mr Wells told Tribune Business. I respect the fact that they have they can reject allb ids and dont have to accept the lowest bidder but KEEN INTEREST FROM PRIVATE SECTOR IN GOVT WORK-PLACEMENT INITIATIVE Many of 3,000 in programme could get permanent employment CLAIM THAT GOVT CONTRACT BIDDING PROCESS IN NORTHERN BAHAMAS UNFAIR REEF CONSTRUCTION LIMITED PRESIDENT SPEAKS OUT SEE page three AN ELECTRONIC MONITOR displays the Dow Jones Industrial Average on the floor of the New York Stock Exchange near the close yesterday in New York. The Dow Jones industrials fell 634.76 points as anxiety overtook investors on the first trading day since Standard & Poor's downgraded American debt. It was the sixth worst point decline for the Dow in the last 112 years and the worst oneday drop since December 2008. Every stock in the Stan dard & Poor's 500 index declined Monday. (AP SEEPAGETWO DOW PLUNGES MORE THAN 600 POINTS AFTER DOWNGRADE
NEW YORK Associated Press S TOCKS PLUNGED Monday as anxiety overtook investors on the first trading day since Standard & Poor's downgraded American debt. The Dow Jones industrials fell 634.76 points. It was the sixth worst point decline for the Dow in the last 112 years and the w orst one-day drop since December 2008. Every stock in the Standard & Poor's 500 index declined Monday. Investors worried about the slowing U.S. economy, escalating debt problems threatening Europe and the prospect thatfear in the markets would reinforce itself, as it did during the financial crisis in the fall of 2008. "'What's rocking the market is a growth scare," said Kath leen Gaffney, co-manager of the $20 billion Loomis Sayles bond fund. "The market is under a lot of stress that really has little to do with the downgrade." Instead, Gaffney said, investors are focused on "how Europe a nd the U.S. are going to work their way out of a high debt burden" if economic growth remains slow. Investors desperately looked for safe places to put their mon ey and settled on U.S. government debt even though it was the target of the downgrade Fri d ay, when S&P removed the United States from its list of the lowest-risk countries. The price of Treasurys rose sharply, and yields, which move in the opposite direction from price, fell. The yield on the 10year Treasury note fell to 2.34 p ercent from 2.57 percent Friday. That matches its low for the year, reached last week. "This is largely a flight to safe ty," said Thomas Simons, mon ey market economist with Jef feries & Co. "The bond market is really trading off of what's going on in the stock market."M oney flowed out of stocks and into Treasurys. G old set a record. It rose $61.40 to settle at $1,713.20. C rude oil, natural gas and other commodities fell sharply on worries that a weaker global economy will mean less demand. Oil fell 6.4 percent to settle at $81.31 per barrel. Fear is spreading quickly t hrough the market, said Dimitre Genov, senior portfolio m anager with Artio Global Investors. "It's becoming a vicious cycle and could feed into consumers reducing their demand as well." The Dow was down 5.5 per cent a 10,809.85. The sharp drop extended Wall Street's almost uninterrupted decline since late July, when the Dow was flirting with 13,000. It fell below 11,000 for the first time since Novem ber. The S&P 500 fell 79.92, or 6.7 percent, to 1,119.49. The Nasdaq composite index fell 174.72, or 6.9 percent, to 2,357.69. Stock markets in Asia began Monday's global rout. The main stock index fell almost 4 percent in South Korea and more than 2 percent in Japan. European markets opened later and fell, too, with Germany down 5 per cent and France 4.7 percent. In the U.S., stocks fell even as Moody's, another major cred i t rating agency, stood by its top rating of Aaa for the United States. It said it could down grade the U.S. if it doesn't cut its deficit, "but it is early to conclude that such measures will not be forthcoming." Financial markets also did not appear comforted by an after n oon statement by President Barack Obama, who said Wash ington needs more "common sense and compromise" to tame its debt. "Markets will rise and fall," he said. "But this is the United States of America. No matter what some agency may say, we've always been and always will be a triple-A country." S&P, in its downgrade, criti cized dysfunction in the American political system. The down grade wasn't a total surprise but came when investors were already feeling nervous about the U.S. economy and European debt, among other problems. Last week, the Dow Jones industrial average fell almost 700 points. That was its biggest weekly point loss since October 2008, during the financial crisis. Counting Monday, the Dow has dropped in 10 of the last 12 trading days. It is down more than 1,900 points, or 15 percent, since July 21. The Russell 2000 index of small stocks has now lost nearly 25 percent from its most recent high on April 29. A decline of 10 p ercent or more off recent highs is considered to be a correction. B ut a drop of 20 percent or more is said to be the start of a bear market. The Nasdaq and S&P 500 are both down about 18 percent since the end of April. The Dow is down 16 percent. T he last bear market for the S&P 500 ran from October 2007 u ntil March 2009. The index lost 57 percent of its value during the downturn. S&P on Monday downgraded mortgage lenders Fannie Mae, Freddie Mac and other agencies linked to long-term U.S. debt. Fannie and Freddie own or guarantee about half of all U.S. mortgages. Their downgrade could eventually mean higher mortgage rates. Worries about weaker prof its that could result from a slowing economy have slammed the financial industry since late July. As a group, financial stocks in the S&P 500 index fell 10 percent on Monday to their lowest level since July 2009. Bank of America plunged 20.3 percent, to $6.51, after AIG filed suit against the bank. The insurer alleged Bank of Ameri ca sold it overvalued mortgagebacked securities. The bank denied the allegations. Its stock i s down 51 percent this year, from $13.34. Stocks in other industries whose profits are closely tied to the strength of the economy also fell sharply. Energy stocks in the S&P 500 fell 8.3 percent, for example. The smallest losses came in s afer industries such as con sumer staples whose profits tend to be steadier, regardless of the economy. Even in a bad economy people will still buy things like toothpaste and bread. The Vix index, a measure of fear among investors, shot up 47 percent to its highest level since May 2010. The index shows how worried investors are that the S&P 500 will drop over the next 30 days. It does this by measuring prices for stock options that investors can buy to help protect their portfolios. Investors are also worried that Italy or Spain could become the next European countries to have trouble repaying its debts. Greece, Ireland and Portugal have already received bailout loans because of Europe's 21month-old debt crisis. The fears have pushed investors to shun Spanish and Italian bonds, which led to higher yields on the bonds. That resulted in even higher borrowing costs for the countries. The European Central Bank stepped in Monday and bought bullions of euros worth of their bonds. The move helped to low e r yields on Spanish and Italian bonds, at least temporarily. S eeking to avert panic spreading across financial markets, the finance ministers and central bankers of the Group of 20 industrial and developing nations issued a joint statement Monday saying they were com-m itted to taking all necessary measures to support financial s tability and growth. "We will remain in close contact throughout the coming weeks and cooperate as appropriate, ready to take action to ensure financial stability and liq uidity in financial markets," they said. Worries about the U.S. economic recovery have been building since the government said that economic growth was far weaker in the first half of 2011 than economists expected. The economy grew at a 1.3 percent annual rate from April through June, below economists' expectations. It expanded at justa 0.4 percent rate in the first quarter. The first half of 2011 was the slowest since the end of the recession. Then reports showed that the manufacturing and services industries barely grew in July. Job growth was better than economists expected last month. B ut the 117,000 jobs created in July were still well below the 215,000 that employers added in February, March and April, on average. The Federal Reserve will meet on Tuesday, but economists don't expect much to come out of the meeting. The central b ank's key interest rate is already at a record of nearly zero, where it has been since 2008. The Fed has also already said that it plans to keep rates low for "an extended period." Chairman Ben Bernanke said last month that the Fed could step in to help the economy if it further weakened. Fears about a weaker U.S. economy have overshadowed the profit growth that compa nies have reported for the sec ond quarter. For the 441 companies in the S&P 500 that have already reported, earnings rose 12 percent in the second quarter from a year earlier. Revenue growth has also topped 10 percent for the first time in a year. Verizon Communications Inc. fell 3.9 percent after it was unable to come to terms with 45,000 workers on health care costs, pensions and other issues. More than 69 stocks fell for every one that rose on the New York Stock Exchange. Consoli dated trading volume was heavy at 9.7 billion shares, nearly triple the volume in early July. BUSINESS PAGE 2B, TUESDAY, AUGUST 9, 2011 THE TRIBUNE A TRADER works on the floor of the New York Stock Exchange before close on Monday, Aug. 8, 2011 in New York. The Dow Jones industrials closed down 634 points, or 5.5 percent, to 10,809 Monday. It was the first time the Dow fell below 11,000 since November and its biggest one-day point drop since December 2008. (AP Anxiety after Standard & Poor downgrading
NEW YORK Associated Press EAGERto calm a nervous n ation, President Barack Obama on Monday dismissed an unprecedented downgrade inthe nation's credit rating, insisting investors will standb y the United States even as stock markets plunged. Obam a said Washington can fix its i lls by showing more political w ill. "Markets will rise and fall, b ut this is the United States of America," Obama said. "No matter what some agency mays ay, we've always been and a lways will be a triple-A country." Investors did funnel money on Monday into Treasurys, a s ign of confidence in the United States as a safe long-term i nvestment even after Standard & Poor's had dropped the U.S. credit rating down a notch. But the broader story w as far more worrisome: stock m arkets kept tumbling over concerns about the weaken i ng U.S. economy and the debt crisis in Europe. The Dow Jones industrials plummeted to its worst drop since December 2008. F or Obama, a president seeking a second term from voters desperate for better t imes, the pressure for results is intense. He is the first president to h ave a credit downgrade come on his watch. And whether blaming him is fair or not h e actually pushed for the type o f deal that might have prev ented a downgrade presidents are always accountable. After saying nothing about the downgrade all weekend, Obama sought Monday to use it as leverage against a Congress whose members are ona n August vacation. He said a downgrade ought to compel a smart compromise from the bipartisan committee of law-m akers that will soon be tasked with shaping up to a nother $1.5 trillion in difficult deficit reduction. Obama said he would offer h is own recommendations, although the White House s uggested that would likely mean ideas Obama has already presented in recent weeks. Obama on Monday s aid Congress should ask w ealthy Americans to pay m ore in taxes and should make adjustments in programs l ike Medicare. Both ideas face fierce political opposition. "I assure you, we will stay o n it until we get the job d one," the president assured. B ut Congress remains in divided political hands, limiting Obama's ability to keep that promise. Heading into a campaigns tyle economic tour before going on his own vacation, Obama's overall rating hovers b elow 50 percent in most polling. He is on far more perilous ground when it comes top ublic views on the key issue f or voters his handling of the economy where his approval rating is under 40p ercent in most major recent surveys. O bama's aim is to keep heat on Congress to enact concrete measures, separate from the grueling debt debate, which could help people in the short term. He pressed lawmakers to e xtend a payroll tax cut and unemployment benefits in September as a way to "put money in people's pockets andm ore customers in stores." On a jittery day for the f inancial world, it fell to Obama to deal with a downgrade that S&P had warned forw eeks would come if Obama and Congress failed to agree o n a major debt-reduction package. The agency was dissatisfied with the deal lawmakers reached last week to c ut more than $2 trillion from t he debt over 10 years. T he administration has derided the downgrade as havi ng no economic basis. S&P, though, has little faith in Washington's ability to overcome its partisan woes on the debt. "We didn't need a rating agency to tell us that the gridlock in Washington over the last several months has not been constructive," Obamas aid. S &P has dropped the government's rating to AA+ from t he top rating, AAA. The agency attached a negative outlook that means the rating could be lowered again. A sked under what scenario t he United States could regain its AAA rating, David Beers, h ead of sovereign ratings at S &P, told reporters on Mon day, "We don't anticipate a s cenario at the moment where the United States could quick-l y return to AAA." S &P officials said that five countries including Canada and Australia have lost their AAA ratings from S&P and then regained them. The shortest time that it took a country to regain an AAA rating was nine years and the longest time was 18 years. W all Street had its first c hance to react to the downgrade on Monday. The Dow f ell below 11,000 for the first time since November. The sharp drop extended Wall Street's almost uninterrupted d ecline since late July, when t he Dow was flirting with 13,000. R epublican candidates hopi ng to challenge Obama next year have placed blame for the d owngrade on Obama, tying it to his larger economic agen-d a. F ormer Massachusetts Gov. Mitt Romney, who leads the GOP field in fundraising and early polls, said the downgrade was a "deeply troubling indicator of our country's decline under President Obama." Rep. Michelle Bachmann, RMinn., who has shown strengthi n the early voting state of I owa, accused Obama of "destroying" the U.S. credit r ating. Obama calmly sought to dismiss all the talk of a dent to U.S. credit. Our problems are emi n ently solvable," he said. "We know what we have to do to s olve them. Our problem is n ot confidence in our credit. The markets continue to reaff irm our credit as among the world's safest. Our challenge ist he need to tackle our deficits o ver the long term." BUSINESS T HE TRIBUNE TUESDAY, AUGUST 9, 2011, PAGE 3B e Board of Directors of FamGuard Corporation Limited is pleased to advise that the second quarterly dividend for 2011 of 6 cents per share has been declared to be paid on August 16, 2011 to Shareholders of record as at August 23, 2011FAMGUARD CORPORATION LIMITEDThe parent holding company of Family Guardian Insurance Company Limited BahamaHealth Insurance Brokers & Benet Consultants Limited FG Insurance Agents & Brokers Limited FG Capital Markets Limited FG Financial Limited thats been the practice. I dont think the process is fair. I right now dont have much work at all. Some people have been working on reduced hours for three years. Ive been putting money back into the business to make payroll. Initially, plans had been that ground would be broken on the airport upgrade project by year-end 2010. Plans went back to the drawing board, however, after Abaconians suggested the original design could be improved upon. Space constraints has been noted as a major drawback at the airport. CLAIM THAT GOVT C ONTRA CT BIDDING PR OCESS IN NORTHERN BAHAMAS UNFAIR FROM page one OBAMA SEEKS TO REASSURE FAITH IN US CREDIT PRESIDENT BARACK OBAMA pauses as he speaks in the State Dining Room of the White House in Washington, Monday. (AP U SPRESIDENTDISMISSESDOWNGRADE
NEW YORK Associated Press M ORE TROUBLEpiled up for Bank of America Corp. on Monday, as American International Group Inc. sued it for more than $ 10 billion, saying the bank cheated it by selling residential mortgage-backed s ecurities that were overvalu ed. T he suit comes on top of s imilar suits, which together p ut the bank in a precarious p osition, analysts say. The bank's stock dove 18.5 percent, or $1.51, to $6.66 in afternoon trading, revisiting levels seen at the nadir of the recession, in March 2009 AIG said Bank of Americ a and two companies that w ere later gobbled up by the bank, Countrywide and M errill Lynch, sold the i nsurance company $28 bil l ion in securities backed by home mortgages between 2005 and 2007, at the height of the housing boom. It said it looked at more than 260,000 of the underlying mortgages, and found thatt he bank's "stated metrics" f or 40 percent of the securit ies were false. I n one case, a borrower said she had been the ownero f a construction business f or 25 years, which would have made her 10 years old when she took ownership, AIG said. Bank of America denied the allegations, saying AIG was big enough and sophist icated enough to know the r isks. AIG recklessly chased h igh yields and profits t hroughout the mortgage a nd structured finance markets. It is the very definition of an informed, seasoned investor, with losses solely attributable to its own excesses and errors," Bank of America spokesman Lawrence Grayson said. AIG spokesman Mark Herr shot back: "It is disappointing but unsurprising that Bank of America con-t inues to attempt to blame o thers for its own miscond uct. Investors, no matter h ow sophisticated, were entitled to rely on its numer-o us written representations a bout the securities it sold." AIG shares fell $2.29, or 9.1 percent, to $22.81. They hit a 52-week low of $22.10 earlier in the day. In June, Bank of America agreed to pay $8.5 billion to a group of investors for selli ng them poor-quality mortg age securities. AIG's suit i s separate, but the company i s raising questions about w hether the settlement went far enough. On Friday, New York Attorney General Eric Schneiderman urged the judge to reject the settlement, calling it unfair. Bank of America wrote a n umber of bad mortgages, but it is in worse shape than other major banks like J PMorgan Chase & Co. and W ells Fargo & Co. because o f its purchase of Countrywide for $4 billion in 2008. What seemed like a bargainp rice for the country's largest mortgage lender has cost the bank tens of billionsm ore in mortgage losses, r egulatory fines, repurchas es of poorly written loans and expensive litigation. In January the financial i nstitution paid $2.6 billion to settle buyback claims on home loans sold to FannieM ae and Freddie Mac. In April, the bank agreed to pay up to $1.6 billion to Assured Guaranty Ltd., ani nsurer that also pressed the b ank to repurchase shoddy mortgages. In March the Federal R eserve did not allow Bank of America to increase its dividend, citing uncertainty about the depth of its mort-g age problems. It was the only denial issued to the four largest U.S. banks. And it raised questions over whether the bank was strong enough to withstand another economic downturn. Christopher Whalen, managing director of Institutional Risk Analytics, believes the government will eventually have to step into restructure the company. "You're having this accumulation of claims ... and it's very clear they can't pay them," Whalen said. "At some point, the government has to acknowledge that this bank has far too many liabilities, and they don't have the capital and earnings to deal with it." The cost of insuring Bank of America bonds against default with a "credit default swap" rose by about 50 percent on Monday, according to Markit. BUSINESS PAGE 4B, TUESDAY, AUGUST 9, 2011 THE TRIBUNE BANK OF AMERICA'S corporate headquarters is shown in Charlotte, N.C. (AP AIG SUES BANK OF AMERICA FOR $10B OVER MORTGAGES TULSA, Okla. Associated Press DOLLAR Thrifty Automotive Group Inc.'s secondquarter net income edged slightly higher, helped by lower expenses. The car rental company also said Monday that it is still cooperating with both Avis Budget Group Inc. and Hertz Global Holdings Inc. on Federal Trade Commission reviews, but doesn't have an agreement with either company. Dollar Thrifty said its net income rose to $42.5 million, or $1.36 per share, for the three months ended June 30. That's up from $42.3 million, or $1.40 per share, a year earlier. Per share earnings fell because there were more shares outstanding in the current quarter. Excluding a penny per share related to increases in fair value of derivatives and other items, earnings rose to $1.35 per share from $1.26 per share. Analysts polled by FactSet expected earnings of $1.37 per share. Total costs and expenses fell to $324.6 million from $333.7 million. Revenue slipped to $395.1 million from $396.2 million, missing Wall Street's estimate of $408.6 million. Vehicle rental revenue was flat, with a 3 percent increase in rental days offset by a 3.4 percent decline in revenue per day. Average fleet rose 7.6 percent as Dollar Thrifty had more fleet on hand to guard against supply disruptions and support increased rental day demand. Fleet cost per vehicle dropped to $188 per month from $193 per month. Dollar Thrifty's earnings come as Hertz continues to compete with car rental rival Avis to acquire the Tulsa, Okla. company. The potential Dollar Thrifty acquisition is a sign of the times within the car rental industry, as the sector has been consolidating for years. In 2002, Avis' parent company bought Budget, while Enterprise's parent company acquired Alamo and National in 2007. ,17(51$7,21$/%86,1(66&203$1,(6$&7 )$5%522./,0,7(' ,QROXQWDU\OLTXLGDWLRQ 1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWKHFWLRQ fRIWKH,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV$FW )$5%522./,0,7(' KDVEHHQ GLVVROYHGDQGVWUXFNRIIWKHHJLVWHUDFFRUGLQJWR WKH&HUWLFDWHRI'LVVROXWLRQLVVXHGE\WKHHJLVWUDU *HQHUDORQWKH WK GD\RI-XO\ /XWHD7UXVWHHV/LPLWHG %XUUDUGWUHHW 6W+HOLHU-HUVH\ /LTXLGDWRU DOLLAR THRIFTY 2Q PROFIT UP ON LOWER EXPENSES
BUSINESS T HE TRIBUNE TUESDAY, AUGUST 9, 2011, PAGE 5B N OTICE PERIVALE MANAGEMENT LTD. In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4Act. 2000, PERIVALE MANAGEMENT LTD. is in dissolution as of August 5, 2011. International Liquidator Services Inc. situated at 3rd L I Q U I D AT O R _____________________ NOTICE I TMOS MANAGEMENT LTD. In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4Act. 2000, ITMOS MANAGEMENT LTD. is in dissolution a s of July 29, 2011. I nternational Liquidator Services Inc. situated at 3rd L I Q U I D AT O R ______________________ N OTICE R osfakim Ltd. In Voluntary Liquidation Notice is hereby given that in accordance with Section 1 38(4Act. 2 000, Rosfakim Ltd. is in dissolution as of July 29, 2011. International Liquidator Services Inc. situated at 3rd ______________________ N OTICE GREEN SEAS MARINE SERVICES LTD. In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4Act. 2000, GREEN SEAS MARINE SERVICES LTD. is in dissolution as of July 28, 2011. International Liquidator Services Inc. situated at 3rd L I Q U I D AT O R _____________________ DALLAS Associated Press AIRLINEtravelers are finally catching a break. E ven though the governm ent is taxing tickets again, t he total cost to consumers is staying about the same. T hat's because airlines a re rolling back prices to where they were before the government temporarily lost its authority to tax tickets two weeks ago. T he difference can add up. Federal excise taxes, w hich went back into effect Monday morning, addm ore than 7.5 percent to t he cost of a flight. Southwest Airlines Co. and its AirTran Airways subsidiary lowered fares Sunday night and were matched by Delta Air Lines Inc., AMR Corp.'s A merican Airlines, JetBlue A irways Corp. and others. United Continental H oldings Inc., the world's l argest airline company, h eld out until Monday afternoon before also reducing fares. US Airways Group Inc. was still charg i ng the higher prices, a spokeswoman said Monday afternoon. M ost U.S. airlines raised fares after a standoff between Republicans and Democrats in Congress onf unding for the Federal A viation Administration c aused federal excise taxes o n tickets to expire on July 23. In effect, the airlinesg rabbed the money that p reviously went to the government instead of passing the tax break to consumers. By raising fares to offset t he expired taxes, airlines were able to pocket an estimated $400 million in just t wo weeks. L ast week, Congress a pproved reviving the taxe s through Sept. 16. The I RS then gave the airlines u ntil the end of the weekend to resume collecting t he fees. The only question was whether airlines would roll b ack their short-lived price i ncrease. Rick Seaney, C EO of FareCompare.com, said itw asn't surprising that airl ines couldn't risk raising prices 8 percent to 15 percent on financially stressedout consumers. Tom Parsons, CEO of B estfares.com, said the weak economy and stock market turmoil could forcea irlines to do more than just cancel last month's fare hike. "They have to be con c erned over (travel demand in) the fall," he said. "They may still have to bring fares down fur t her." NEW YORK Associated Press CASINO OPERATOR MGM Resorts International says its adjusted net loss was less than analyst expected as b oth gambling and hotel room revenue increased. Net income totaled $3.44 billion, or $6.22 per share. That compares to a net loss of $883.5 million, or $2 per share last year. Excluding a gain of $3.5 billion related to acquiring a controlling interest in MGM China Holdings Ltd., net loss totaled 8 cents per share. Analysts expected 14 cents per share, according to FactSet. Revenue rose nearly 17 per cent to $1.81 billion from $1.55 billion last year. That beat ana lysts' expectations of $1.58 billion. Billionaire Kirk Kerkorian is a major investor in MGM Resorts International, which is based in Las Vegas. AIRLINES BEGIN ROLLING BACK FARE HIKES MGM RESOR T S 2ND QU ARTER ADJUSTED LOSS N ARROWS Southwest Airlines Co. and AirTran Airways subsidiary lower fares, matched by Delta Air Lines Inc., AMR Corp.'s American Airlines, JetBlue Airways Corp. and others Share your news The T ribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for impr ovements in the ar ea or have won an awar d. If so, call us on 322-1986 and share your story.
FRANKFURT, Germany A ssociated Press THE EUROPEAN C entral Bank pulled Italy and Spainb ack from immediate financ ial disaster on Monday, dri ving down the countries' dan gerously high interest rates by b uying up billions of euros worth of their bonds on the open market. B ut the rescue mission does not address the roots of Europe's 21-month-old finan c ial crisis such as how to stop countries from building up the towering debts that led Greece, Ireland and Portugal to take bailouts after bond markets wouldn't lend them more money at affordable rates. Europe's central bank has long resisted shifting from its traditional job of control ling inflation to a lead role combating the crisis. It relented last week and revived a dormant program that had earlier made just under 80 bil lion euros ($113 billion Greek, Irish and Portuguese bonds. The purchases drive up their face value and reduce the interest rates to be faced on new bonds, which soared as a result of investor fears about the countries high debt and slow growth. Italy and Spain are so much larger that the euro zone would find it virtually impossible to bail them out if they default. Supporting their debt could be a massive effort: Traders said the bank spent around 2 billion euros ($2.84 billion) Monday, while ana lysts at Royal Bank of Scot land see the bank racking up 600 billion euros per year in bonds at a rate of 2.5 billion euros a day. Eventually, the bank could wind up with 850 billion euros ($1.2 trillion Italian debt, the analysts added. The ECB has been "steril izing" its bond purchases by withdrawing funds from the financial system so that the overall amount of money in circulation remains the same, warding off any inflationary effects. Still, massive purchases will freight the central bank's bal ance sheet with potentially risky assets. And some econo mists say such purchases damage the bank's credibility by opening it to charges that it's using its powers to bail out i rresponsible governments. As a result, ECB President Jean-Claude Trichet has con s istently pushed for European governments, not the central bank, to buy up their neigh b or's troubled bonds. That r eluctance could mean the bank will limit its bond pur chases and hand off the role of bond-buyer to the European bailout fund, which will grow to euro440 billion after its expansion is approved by n ational governments, most of which are waiting until the end of the summer vacation sea-s on. Unlike the central bank, with its power to print mon ey, economists said that fund may not be big enough to keep Italy and Spain's yields down, allowing bond market turmoil to erupt again. France says it's willing to contribute even more to the European Financial Stability Fund but Germany and many other countries with solid finances oppose boosting its size. "You need somebody who is known to have unlimited firepower, and that's what the ECB has," said Paul De Grauwe, an economist at the Catholic University of Leuven. "There is no limit to the amount that the ECB can intervene." Trichet left himself some leeway when asked last week: His "working assumption" is the stability fund would "eliminate the reason while we, from time to time, intervene on the bond markets." But he also said, "We never pre-commit." Commerzbank analyst Michael Schubert said Trichet would likely stick to his position, rather than risk the bank's reputation. "If people do not believe or are convinced that the ECB is only responsible for monetary policy, but is in effect sup porting governments, then this could be a severe loss in reputation and the consequences would be that inflation expectations would go up," Schubert said. By the close, the yield, or interest rate, on Italy's 10-year bonds had dropped 0.7 per centage point to 5.3 percent while the equivalent rate on Spain's tumbled 0.9 percentage point to 5.14 percent. BUSINESS PAGE 6B, TUESDAY, AUGUST 9, 2011 THE TRIBUNE -DVRQ6WHSKHQ*UDKDP RI3*OHQLVWRQ*DUGHQV1$66$8 %$+$0$6 6DWXQH-HURPHRI3 &RZSHQ5RDG1$66$8%$+$0$6 5LFKDUG9DOFLQRI 3'XUKDP6WUHHWRII0RXQW5R\DO$YHQXH 1$66$8%$+$0$6 'LDQD(WLHQQHRI1DVVDX 9LOODJH1$66$8%$+$0$6 By SANDY SHORE AP Business Writer OIL plunged to its lowest price of the year Monday, another sign that the U.S.e conomy is in trouble and d emand for oil and gas could fall. The slide followed Friday's announcement that ratings agency Standard & Poor's no longer considered U.S. gov-e rnment debt one of safest investments in the world. Monday was the first chance traders and investors had to react, and many of them sold off. They poured money into assets considered to be safer during times of economicu ncertainty, such as Treasurys and gold, and pulled it out of stock and oil on Monday. Even before S&P's downg rade, weak economic data has made investors nervous about the U.S. economy'ss trength and appetite for oil. The economy grew only 1.3 percent in the second quarter, while Europe continued to struggles with enormous debt. Some investors fear another r ecession. B enchmark West Texas Intermediate fell $5.57, or 6.4 percent to settle at $81.31 perb arrel on the New York Mer cantile Exchange Monday. That is the lowest settlement p rice of the year for crude. I n the past two weeks, oil prices have dropped nearly $16 per barrel. Analysts think o il will remain volatile this week as traders look for some clarity on where the economy and demand are headed. On T uesday, the U.S. government and OPEC wiil both issue an updated forecast for global oil consumption. Traders are also closely watching debt problems inE urope, where the European C entral Bank said it will interv ene to prop up the sagging economies of Spain and Italy. Some analysts believe that global oil demand, particularly in emerging markets likeC hina, will continue to supp ort prices. The share of global oil demand in emerging markets has risen from 44 percent in 2008 to 48 percent this year, Barclays Capital said in a report for clients. China's share of global oil demand hasi ncreased more than 2 percent i n the same period. Goldman Sachs analysts also believe oil prices will risen ext year. They told clients in a note published Friday that t he risk of a U.S. recession has risen, but their revised U.S. e conomic outlook remains consistent with a recovery at a slower pace, "which is typicalf ollowing a housing bust." I n addition Goldman said the outlook for economic growth in China and other emerging markets is positive. Oil is still higher than the $71.63 per barrel low of thep ast 12 months. Oil hit that on Aug. 24 of last year, when a combination of disappointing economic news and abundant supplies drove down p rices. Gasoline futures, mean w hile, have fallen between 35 cents and 40 cents in the last two weeks. That will translatei nto a savings at the pump of about $140 million to $160 million a day for motorists, according to CameronH anover energy consultancy. Oil down more than 6 pct after US credit downgrade IN THIS June 21, 2011 photo, Shell gas customer Carissa Wiley, of Fresno, Calif., pumps gas at a Shell gas station in Menlo Park, Calif. Oil prices fell over $3 to near $83 a barrel Monday, Aug. 8, 2011, after Standard & Poor's downgraded the U.S.'s credit rating_ a blow to confidence that could hurt economic growth and d emand for crude. (AP N EW YORK A ssociated Press GLOBALstock markets tumbled Monday on the first trading day since Standard & Poor's downgraded long-term U.S. debt. The plunge came as investors grew anxious over a weakening U.S. economy and a widening debt crisis in Europe. N ot everything went as expected. Some analysts had worried t hat Treasury yields would surge after S&P's downgrade. That would happen if investors demanded higher returns to compensate for their risk. The opposite happened. Treasury yields dropped Monday as investors sought a safe place for their cash. Their actions showed continued confidence in long-term U.S. debt. H ere are some questions and answers about the market's turm oil Monday: Q: Why are stock prices plunging? A: Stocks are considered risky, especially when the economy falters. When the economy is growing, companies can expand, h ire and increase profits. A string of bad economic data has led m any investors to worry that the economy will dip back into r ecession. If that happens, stocks would likely slide further. Investors already were growing fearful about the economy before S&P's announcement Friday night. Oil prices also are falling, a sign that traders expect the weak economy to reduced emand from consumers and businesses. Q: If everyone is selling stocks, where's that money going? A : A nywhere safe. Traders are plowing cash into investm ents that are seen as hedges against economic weakness. Gold prices streaked past $1,700 for the first time Monday. And the yields on debt issued by the U.S. Treasury fell as traders, m oney managers and overseas banks sought refuge from the market's wild swings. Bond yields fall as their prices rise. Q : Why are Treasury prices rising? Didn't S&P just indicate t hat they are a riskier investment? A: Investors remain confident that the Treasury will be able to pay its creditors, downgrade or not. And Treasurys are still t he world standard for safe, stable investments that can be converted into cash easily. Other nations with AAA ratingsh ave much smaller economies and issue much less debt. When i nvestors seek safety, they don't have many options other than T reasurys. Q: If the S&P downgrade isn't driving all this selling, why are m arkets plunging now? After all, the economic data was rela tively encouraging on Thursday, when the Dow had its worst one-day point drop since 2008. A : T hings are looking grim in Europe. Central bankers there are trying to prevent Italy and Spain from becoming the latest nations to default on their debts. The European Central Bank on Monday is buying up bonds issued by those countries, to i ncrease demand for them. A default by Spain or Italy would be disastrous for other nations that use the euro and could affect financial companies worldwide. Q: Are investors more optimistic about overseas stock mar kets? A: Not at all. Stocks around the world have taken a pound i ng. Even developing markets are vulnerable because of how U.S. and European weakness could reverberate globally. QUESTIONS AND ANSWERS ABOUT THE MARKET'S TURMOIL Share your news The Tribune wants to hear f rom people who are making news in theirn eighbourhoods. Perhaps y ou are raising funds for a good cause, campaigning f or improvements in the area or have won an award. If so, call us on 322-1986 and share your story. Central bank action eases Eur ope's crisis, for now A STOCK trader looks to the a graph of the Gold price in Paris, Monday, Aug. 8, 2011. Spanish and Italian stocks led European markets higher Monday as investors breathed a sigh of relief that the European Central Bank would buy the two countries' bonds in order to lower their borrowing costs. (AP
BUSINESS T HE TRIBUNE TUESDAY, AUGUST 9, 2011, PAGE 7B CHAMPAIGN, Illinois Associated Press IBM Corp. on Monday d ropped out of a project to build one of the world's fastest supercomputers at t he University of Illinois, s aying it requires too much financial and technical supp ort. T he move leaves the univ ersity looking for someone to build the $300 million-p lus Blue Waters system t hat it still hopes to deliver by the fall of 2012. The school's National Center for Supercomputing Applications will have just a few weeks to customize its plansto a new builder and present t hem to the project's primar y financier, the federal gov e rnment's National Science F oundation. T here is no guarantee the p roject that was originally expected to go online this year will continue. IBM won't say how much money the project would have cost the company, but Monday's announcement f ollowed several months of talks with university officials. "As we moved forward in t he project, increased cost f rom the final design and other changes made us come to the conclusion" not to continue, IBM spokes w oman Joanna Brewer said. John Melchi, who is senior associate director at the uni-v ersity's National Center for S upercomputing Applicat ions, said IBM's decision is disappointing but said that with the NSF waiting for a revised plan there's little t ime for the 120 or so people a t the university who've w orked on the project to do anything but keep working. "When you look at the w ork you've put in the previous three or four years, it is disheartening," he said. "Honestly, there's a certain a mount of energy here; people are inspired." The NSF's National Scie nce Board, a 20-member g roup of scientists, expects t o have a revised plan to vote on as early as mid-Sep-t ember, NSF spokeswoman L isa-Joy Zgorski said. "Whether or not we move forward with a comparable alternative ultimately rests upon the decision of the National Science Board," she said. W hen Blue Waters was a nnounced in 2007 it was billed as a project to build w hat was expected to be, at l east for a time, the world's f astest supercomputer. It was planned to run at sustained speeds of at least a thousand trillion operations a second, a measure known as a petaflop and a standardf or speed that had long been sought. The university bid on the project and was chosen byt he NSF to build a computer t hat could study in new, m uch faster ways subjects s uch as the formation of galaxies and the effects of hurricane storm surges on land. IBM was selected as the vendor. The fastest supercomput er at the time was anotherI BM product, Blue Gene/L, which had about a third of Blue Waters' expected capab ility. W inning the bid was a p restige builder for both the university which alsou sed the new supercomput e r as a recruiting tool and for IBM. Melchi said Monday he doesn't believe thes etback will cost the supercomputing center any staff. NSF has agreed to spend $ 208 million on the project w hile the university and state of Illinois have pledged another $100 million. So far, about $160 million has been spent, the university and NSF said. As part of the original c ontract, IBM is repaying the federal money it received, which the NSF s ays is about $30 million. T he supercomputing center i s returning IBM servers installed at the new Nation-a l Petascale Computing F acility built on the campus for the project. It's unusual for an NSFf unded computing project such as Blue Waters to losea key partner midstream, but not unprecedented," Z gorski said, adding that she wasn't sure if any projects were completed after running into similar problems. Brewer did not disclose what went wrong, but said i t didn't involve IBM's Power7 processors, the next gen eration of which is due to ber eleased later this month. M elchi said it's difficult to s ay how close the project is to completion but it's" not close enough." T he trouble became obvi ous in April, he said, and IBM and the supercomput i ng center had tried since to find a solution before reaching what Melchi called an i mpasse. A s proposed, Blue Waters would not be the world's fastest because a computer in Japan known as the K Computer currently runs at a maximum speed of just over 8 petaflops though m uch less if required to run for prolonged periods. Blue Waters' target is to r un at a petaflop for sust ained periods of time and r un on much more complex problems than currently pos-s ible, Melchi said. The Blue Waters project is as relevant as it was in 2006," he said. "We're goingt o explore our options but, to be real open with you, we don't have a lot of time." IBM UNPLUGS FROM UNIVERSITY SUPER-COMPUTER PROJECT T HIS UNDATED p hoto provided Aug. 8, 2011 by the National Center for Supercomputing Applications at the University of Illinois shows the National Petascale Computing Facility on the campus in Champaign, Ill. IBM has backed out a project with the university to build a news upercomputer on campus, a move that leaves the university looking for a new builder to complete the $300 million-plus project, which i ncludes this new building, designed to house the new computer. N ational Center for Supercomputing Applications at the University of Illinois / AP
BUSINESS PAGE 8B, TUESDAY, AUGUST 9, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.95AML Foods Limited1.171.170.0042,2750.1550.0807.56.84% 1 0.639.05Bahamas Property Fund10.6310.630.00-0.6400.080-16.6 0.75% 7.504.40Bank of Bahamas6.936.930.003180.2300.10030.11.44% 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% 1 1.108.30Cable Bahamas8.478.480.011,0000.2450.31034.63.66% 2.802.35Colina Holdings2.552.550.000.4380.0405.81.57% 8.508.33Commonwealth Brewery8.408.500.101,0000.7400.00011.50.00% 7.006.04Commonwealth Bank (S1 6.886.880.00500.4960.26013.93.78% 2.001.73Consolidated Water BDRs1.691.56-0.132,0000.1110.04514.12.88% 1 .901.31Doctor's Hospital1.381.380.000.0740.11018.67.97% 5 .504.75Famguard5.435.430.000.4980.24010.94.42% 8 .805.35Finco5.395.390.009,2500.7570.0007.10.00% 9.747.75FirstCaribbean Bank8.318.310.000.4940.35016.84.21% 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 .305.50ICD Utilities7.307.300.00-0.1220.240-59.8 3.29% 1 0.809.80J. S. Johnson9.829.820.000.8800.64011.26.52% 1 0.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00F INDEX: YEAR END 2008 -12.31%3 0 May 2013 2 0 November 2029 7 % RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 29 May 2015BISX LISTED & TRADED SECURITIES AS OF:7% I nterest 19 October 2022 Prime + 1.75% Prime + 1.75% 6 .95%MONDAY, 8 AUGUST 2011BISX ALL SHARE INDEX: CLOSE 1,399.26 | CHG 1.35 | %CHG 0.10 | YTD -101.25 | YTD % -6.69BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)M aturity 19 October 2017 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-2320 5 2wk-Hi52wk-LowSymbolBid $ A s k $Last PriceDaily Vol.EPS $Div $P/EYield 1 0.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.650.750.400.0290.00024.130.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.57161.4674CFAL 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 2.86862.5730Royal Fidelity Bahamas G & I Fund2.5730-5.41%-9.79% 13.680613.2291Royal Fidelity Prime Income Fund13.68062.42%2.01% 114.128999.4177CFAL Global Bond Fund114.09222.35%13.88%114.128861 118.4255101.6693CFAL Global Equity Fund118.42552.30%8.26%116.580785 1.16081.0000FG Financial Preferred Income Fund1.16551.66%5.19% 1.12141.0000FG Financial Growth Fund1.12640.71%6.11% 1.16201.0000FG Financial Diversified Fund1.16681.54%5.59% 9.99529.5078Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.94330.98%4.58% 11.217310.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 211.19701.31%11.59% 10.42889.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.15251.27%8.82% 8.85647.5827Royal 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 Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. 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 Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Jun-11 30-Jun-11 111.469744 115.762221TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Jun-11 30-Jun-11 30-Jun-11 22-Jul-11 30-Jun-11MARKET TERMS30-Apr-11 30-Jun-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. (Over-The-Counter Securities)30-Jun-11BISX Listed Mutual Funds30-Jun-11 30-Apr-11 NAV 6MTH 1.526164 2.947425 1.574964 NAV Date 31-May-11 30-Apr-11 NEW YORK A ssociated Press THOUSANDSof striking workers in Verizon Communication Inc.'s landline division joined picket lines and rallies Monday at companyo ffices from Massachusetts to Virginia, a union official said. The contract for 45,000 employees expired at mid n ight Saturday after the company and the workers were unable to come to terms on i ssues including health care costs and pensions. The dis pute does not affect the wirel ess division at Verizon, the nation's largest wireless carrier. Several hundred strikers d emonstrated outside the company's headquarters in lower Manhattan, most wear i ng red shirts and chanting, "Union busting, it's disgusting!" "We are out here fighting f or our bargaining rights, said Sharon Bleach, 52, who has worked at Verizon for 25y ears. "They want to take away our pensions, our med ical, they want to cut our p ay." About 60 workers picketed in Brooklyn. I n Amherst, N.Y., outside Buffalo, two picketers said they were hit by a vehicle turning into a Verizon garage Monday morning. "There was an individual who drove through the line and struck two of our mem bers," said James Wagner, president of Communications Workers of America Local 1122. He said they weren't seriously hurt. Police said details were sketchy. Robert Master, a Commu nications Workers of America spokesman, said picket lines also were going up in Rhode Island, New Jersey, Pennsylvania, Maryland, Delaware a nd Washington, D.C. T he striking workers are responsible for maintaining and repairing traditional land-l ines, as well as installing the company's fiber-optic FiOS service, Master said. V erizon spokesman R ichard Young said thou sands of managers have been sent to help work in the a ffected states. "We've been preparing for a strike or other adverse job a ction for many months. We always knew a strike was a possibility," Young said. "We're 100 percent prepared.W e're confident in our ability to continue to provide the best possible customer ser v ice." He said Verizon has trained tens of thousands of managersf or the past several months. W orkers covered by the expired contract also include 10,000 represented by theI nternational Brotherhood of Electrical Workers, who serve as telephone and repair tech nicians, customer service rep resentatives, operators and more. N ew York-based Verizon has 196,000 workers; 135,000a re non-union. Verizon said it was asking for changes in the contract because its wireline business has been in decline for more than a decade as more peo ple switch to using cell phones exclusively. It had 25 million landlines at the end of the second quarter, down from 26 million at the end of 2010. It has been selling off some of its land lines to other phone compa nies. Master said Verizon wanted worker concessions at a time when it's making billions in profits and top executives were making millions in salary. Contract negotiations began June 22. V ERIZON WORKERS p icket outside one of the company's central offices Monday in Philadelphia. Forty-five thousand Verizon Communications Inc. workers from Massachusetts to Washington, D.C., went on s trike Sunday after negotiations fizzled over a new labour contract for more than a fifth of the company's work force. (AP STRIKING VERIZON workers picket along Central A venue in Colonie, N.Y., on Monday. (AP CHRIS SIMMONS, left, and several hundred Verizon employees picket outside the company's headquarters, Monday. (AP
WOMAN P AGE 10B, TUESDA Y AUGUST 9, 201 1 THE TRIBUNE (ARA ) W hen i t com es t o your hear t, w hat you eat matters b ut th a t d o e s n 't m ea n h av in g to f ill your plate w i th bland foo ds. Getti n g yo ur fami ly to eat with t heir h e a r t s i n m in d c a n b e b o t h f u n and delic ious M a ke se n si ble ea tin g a fam ily af fa ir w it h a f r es h an d f lav o r fu l r e c i p e f r o m B u d d i g l u n c h me a t s and these hear t-healthy ti p s fr om the Americ an Heart Ass oc iation: S et a goo d example. P aren ts who mak e s ens i b l e fo od c hoic es and lead ac tive lifestyles c an help their c hildren d evelop hea l th y habits S tart with simp l e c hange s. Eli min ati n g o ne or tw o co okies a day and ad ding 30 ex tra mi n utes of exerc ise or p l ay time m ak es a big d ifferen ce. C hoo se pr otein so urc es with l es s satu rated fat an d ch olester ol. Lean meats, s kinles s pou ltry and fi s h and fat -free or low -fat dairy ch oic es are bes t. K eep fru its and vegetab les hand y f or sn ack ing and inc lude with every meal. N ew U S DA guidelines r eco mmend fill in g half your p late w i th n utr i t i o us fruits an d vegetables M ake dinn ertime famil y time. When everyo ne sits d own togeth er to eat, th ere's less ch anc e o f ch i ld ren eating the wro ng foo ds or s nac king to o muc h. P lus, everyo ne gets the added b on us of sh ared time togeth er. M a k i n g h e a l t h y f o o d c h o i c e s t ha t yo ur f am i l y wi l l l ov e i s a sna p; j ust loo k for he art -he al thy opti ons l i ke C arl Bud dig D el i C uts, w hich, on s elected varieties, featur e the A m e r i c a n H e a r t A s s o c i a t i o n h e a r t c h e c k m a r k c e r t i f i c a t i o n Here's a great-tas ting rec ipe su re to tip the sc ales i n y our favo ur : SOUTHWES TER N CHICKEN AND R ICE S AL AD INGREDIENTS: 3 cups cooked rice 1 (12-ounce) package Deli Cuts Rotisserie Chicken cut into bite-size pieces 1 medium-size red bell pepper, cored, seeded and diced 1 large yellow bell pepper, cored, seeded and diced 2 jalapeno chiles, cored, seeded and minced 1 small red onion, finely chopped 1/2 teaspoon chili powder 1/4 teaspoon pepper 6 tablespoons reduced-fat Italian salad dressing 3 tablespoons finely chopped fresh cilantro Directions: S poo n r ic e in to a l a rge s a l a d bow l. Add chicken, red bell pepp e r yellow b e ll p e ppe r, c hi le s a nd oni on. Tos s g en t ly b u t we ll. St ir t o g et h er ch i li p ow der, p e p per and I talian d ress in g in a cu p. Po u r ove r salad i ng r ed ien t s. T o ss gent ly bu t well. Spr inkl e on cila n tro M akes 6 ( 1 1/ 3c u p) servings. N ut ritiona l i n forma t i on : 233 c al o ri es pe r s e rv in g; 4 gra m s tota l fa t ; 13. 5 g r a m s p r o te i n ; 3 5 g r a m s c a r b o hy drat e s; 20 milligr a ms c h oles t ero l ; 1.1 g r ams d ie t ar y f i be r an d 64 0 mi ll ig r am s s o dium. P r o d u c t s d i sp l ay i n g t h e A m er i ca n He a r t A s s oc i a ti on he a rtc he c k m a rk m us t meet cr it er i a f o r sat u rat ed f a t an d cho le st e r ol. To learn mor e abo ut th e h e art -check m ar k a n d th e sm all c h a n ges you and yo ur f am ily can make f or heal t h ier eat ing, vis it t he Ame r ic an Hea r t Ass o cia tio n at ww w.heart chec kmark. o rg. F or m ore r ec i pe s a nd i nform a ti on ab o u t le an h e ar t s mar t d e li m eat s, vi sit ww w.bu dd ig.c o m. Tasty tips for eating for heart health Do I have Bruxism? B R U X I S M i s d e f i n e d a s n o n f u n c t i o n a l c l e n c h i n g grinding, or rubbing of teeth d u r i n g t h e d a y o r n i g h t I t m ay b e pe rs i sten t t hroug ho ut l i f e b u t c a n s o m e t i m e s b e intermittent. When intermit t e n t, i t i s o f te n a ss oc i a t e d w i t h em o t i o n a l o r p s y c h o l o g i ca l factors. T hree gr oups of c aus a t iv e f a c t o r s a r e : g e n e t i c ( r a r e l y se en a nd i s s o met i mes s een i n s o m e s y n d r o m e s ) ; l o c a l ( t h i n g s a f f e c ti n g h o w t h e t e e t h fit together); or psychogenic ( c o n n e c t e d t o m o o d a n d thoughts). Bruxi s m is a ls o c ommon in l e a r n i n g d i s a b i l i t i e s m a n y p sy c h i a tr ic d i so rd e rs a nd dr u g u s a g e ( a l co h o l a n t i d ep r e s s an t s co ca in e a nd ecs ta s y) Th e re i s no ru le to t he t y pe o f g r i n d in g t h a t o c c u r s i n t h e da y o r n ig h t, bu t a ne c d o ta l ly da y time bruxism is often of the clenching type and nighttime bruxism of the grinding type. Per sons that brux, usu a lly develop l arge chewing mus c l e s o f t h e j a w s a n d h a v e t oo t h w e a r th at is i nc o n si ste n t with their age. T he w ear on the t e eth ma y be minimal or significant. I t is pos s ible f or t he in div idu al to w ea r th e tee th aw a y t o su c h a n e xt e n t, t h at th e re i s exposure of the dentine (the l a y e r o f a t o o t h u n d e r t h e white part). I n s o d o i n g t h e b i t i n g anatomy of the tooth is often l o s t a n d t h e b r u x i s t m a y de velop pai n in the temporom andibular joint (joint in the front of the ear) or in the biting muscles. H e r e a r e a n u m b e r o f sympt oms and s igns t o look for, if y o u sus pec t y o u h av e bruxism: Teeth grinding or clench ing which may be loud enough to awaken your sleep partner Teeth that are worn down, flattened, fractured or chipped Worn tooth enamel, exposing deeper layers of your tooth Increased tooth sensitivity Jaw pain or tightness in your jaw muscles Enlarged jaw muscles Earache because of severe jaw muscle contractions, not a problem with your ear Headaches Chronic facial pain Chewed tissue on the inside of your cheek Indentations on your tongue W he n t rea ti ng bru xi sm, th e g oa ls a re f oc use d on red uc in g t h e c l e n c h i n g b e h a v i o u r re du c ing p ai n a nd pre v en tin g f urth er too th da ma g e. I t i s t h e r e f o r e c r u c i a l t o d e term in e t he po ssib le ca u ses of t h e b r ux is m a nd m an age t he m. T he many caus es inclu de: a n x ie ty str ess or t e nsi on ; sup p r e ss e d a nge r or frustratio n; a g g r e s s i v e c o m p e t i t i v e o r h yp era c tiv e pe rsona li ty ty pe ; a bn orm al a lig nm en t o f u pp er an d l o we r t e et h ( m a l o c cl u s io n) ; r e s p on s e to pa in ( f o r e xa mple from an e arac he or t ee thi ng in c hi ldre n); g row th a nd de v el opm en t o f th e j aw s a n d t e e t h a n d t h e s i d e e f f e c t o f s om e p sy c hi a tri c me di c a ti on s. I n a d d i t i o n t o m a n a g i n g s p e c i fic c a use s d ire c tly pa lli at iv e r eg im e s are c om mo nl y i mp le m en te d. T h e g o a l i s t o r e d u c e c l e n c h i n g a n d i s o f t e n v e r y d i f f i c u l t t o ac hi e v e, e s p e ci a ll y i n t h o s e w i th le arn in g disa bi li tie s. G e n e r a l l y i t i s e a s i e r t o i m pl e m e nt me t ho d s to re d u c e d a yt im e c le nc h in g th an it is t o i mp le me nt re gi me s to re du c e n ig httim e cl en ch ing How e ve r, pe rson s wh o j ust re l ax an d m o d i f y d a y t i m e b e h a v i o u r u s u a l l y a r e a b l e t o r e d u c e n ig htt im e brux in g. M e d i c a t i o n u s e d t o t r e a t an x i et y a n d d e p r e s s i o n c an al so be of ad dit ion al be ne fi t. In d i v i d u a l s a r e u s u a l l y a d v i s e d t o implement s elf care s teps wh i c h i nc l ud e bu t a re no t l im ite d to: red uc in g da il y stre ss; l e a r n i n g re l a x a t i o n t e c h n i q u e s ; ge tti ng ad eq ua te sle e p; rel ax i n g f a ci a l a n d j a w m u s c l e s ; ma ssag in g the musc l es of th e n e c k s h o u l d e r s a n d f a c e ; app ly ing i c e an d w e t hea t to fa c i a l m us c l e s; a v o id i n g e a ti n g h a r d f o o d s l i k e n u t s ; s t r e t c h i n g e xer cis es f or mus cl es of t he f a ce a nd d r i n ki n g pl e nt y o f wa te r. I n a d d i t i o n t o m a n a g i n g s p e ci fi c cau s es an d a dvi si ng on sel f c are ste ps, ma ny de nt ists wi ll a tte mp t a lte rna ti ve i nte rv e n t i o n p ra c t i c e s T h e y a r e n o t all r e s e arch prove n e f fe ctiv e i n t e r v e n t i o n s b u t m a y b e h e l p f u l : Mouth guards covering all the biting surfaces of the teeth or some of the biting surfaces Bite adjustments using filling material or cutting enamel away Behavioural therapy and biofeedback (for example habit reversal, aversive conditioning, electromyographic biofeedback) Medication (for example gabpentin, propranolol, bromocriptine) Bruxism is something that ca n be ma nag ed. If yo u e xp erience any of the above men t i o n e d s y m p t o m s o r k n o w s o m e o n e t h a t e x p e r i e n c e s th e m p l e a se s e e k a d v ic e f ro m a d e n t a l h e a l t h c ar e p r o f e s sional. The dentist will be able to a d v i s e a n d d e v e l o p m e n t a co mp r eh ens i ve ap pr o ach t o m a n a g e t h e s i t u a t i o n A healthy mouth is priceless. Th is arti cl e is for info rmati ona l pu rp o s e s o n l y It i s no t i n te n d e d a n d m a y n o t b e tr e a t e d a s a s u b s t i t u t e f o r p r o f e s s i o n a l m e d ical/dental advice, diagnosis, or t r e a t m e n t A l w a y s s e e k t h e advice of a physician or dental professional with any questions you may have regarding a med ical/dental condition. Never dis re g a rd p ro fe s s io n a l m e d i c a l /d e n tal advice or delay in seeking it be c au se of a pu rel y i nfo rm at io nal publication. I f y o u h a ve qu e st i o n s, p l ea se s e n d e m a i l t o email@example.com. Dr AndrÂŽ R. Clarke, DDS, MBBS Special Care Dentistry B y A N D R E C L A R K E KEEPING YOUR MOUTH ALIVE DO YOU HAVE BRUXISM: Bruxism is defined as non-functional clenching, grinding, or rubbing of teeth during the day or night. TRENTON, N.J. Associated Press T H E MA K E R o f th e w o r l d s b e s tselling diabetes drug is facing hun d r ed s o f l aw s u i t s a nd l i k el y a b i g s al es d ro p as su sp icio n gr ows tha t taking the pill for more than a year raises the risk of bladder cancer. In June, Takeda Pharmaceuticals C o. L t d. h al te d s ale s o f A ct os i ts t op dr ug in Ger ma ny an d F ra nce after pressure from regulators. S i nc e t h e n, b o th t h e U S F o o d a nd Dr u g Ad mi ni s tr a ti on and th e Eur opean M e d icines Agency have is su e d w a r n in g s a bo u t t h e c a n c e r r i sk b a s e d o n n e w r e s e a r c h b u t t h e y ha ve al lo w e d sal e s t o c on ti nu e. D oc tors are being told not to prescribe Actos for people who have or have had bladder cancer. T h e w a r n i n g w i l l l i m i t p a t i e n t ch oic es an d co uld spe ll the e nd fo r a once-promising class of Type 2 dia betes drugs that debuted more than a d e c a de a g o a m id he a v y p ro m o ti on Cancer Risk The onc e-a -day pil ls w ere appe ali ng They helped contr ol blo od s uga r t i gh t l y h ad f e w s i d e e f f e ct s i n m o st p at ie nt s b o os t ed th e e ff e cts o f s o m e o t h e r d i a b e t e s d r u g s w o r k e d b y a n e w m e c h a n i s m i mpr oving the body's s ens itivi ty t o insul in and e ve n a llo we d pati en ts t o r ed uce or del ay us e o f in ject ed i n s u l i n Acto s, des pite links t o h eart fail u r e r i s k a n d o t h e r s e r i o u s s i d e ef fects became the No 1 d iabetes p i ll a ft e r A van d ia t h e o n ly ot h er dr u g in tha t cl ass, w as fou nd in 20 07 t o s h a r p l y i n c r e a s e r i s k o f h e a r t at tacks A vandia' s us e was ban ned i n t h e E U a n d s h a r p l y r e s t r i c t e d he re Ac t o s s al e s j um p e d fr om a b o ut $ 2 9 b i l l i o n i n 20 0 6 t o m o r e t h a n $4. 3 billi on las t year Now tho se bi llion s may well s hif t t o T akeda r ivals In the past week, the first of what law yers predic t will be t h ous a nds of laws uits wer e f iled in c o urt s acros s the c ou ntry. They allege Ac t os triggered bladder c ance r in some c ases f ata l, i n cl ien ts wh o t oo k t he p il ls dail y for year s. Nancy Rios 54, is s uing Taked a, blam ing her r ecurr ent bl adder canc er o n A ct o s w h i ch s h e t o o k f o r mo re tha n a de ca de R ios, a h ospi ta l s ec r etar y, was diagno sed with bladder ca ncer in 2 009. I n J une, she ha d h e r s e c o n d s u r g e r y t o r e m o v e tu mors Rio s, w h o li ve s in Readin g, Pa. is w o rr ied about mi ss ing mor e w o rk a n d be i n g a b le to p a y h e r m e d ica l bills. Ne xt month, she will learn wheth er mo re t reat ment i s n eeded. I c ould lose my blad der a nd poss ibly n eed chemo," s he s aid. H e r a t t o r n e y P au l P e n n o c k o f Weit z & L uxenb erg sa id t he fi rm a l r e a d y r e p r e s e n t s a n o t h e r 1 0 4 client s, has ab out 120 m ore expected to p urs ue laws uits and is get tin g 30 t o 40 pos si ble new cas es a week. W he n a m an uf ac tu re r d istr ib ute s a dr ug, they o w e it to th e p ublic to ens ur e that their pr oduct is s afe f or u se a n d i t a p p e a rs th a t Ta ke d a P h ar mac eutica ls failed to fulfill tha t fundamen tal du ty," P ennock s aid. Other lar ge law f ir ms ar e evaluat ing pot ent ial cases by t he do z en or mo re. Mor e t han 20 fir ms f rom F l o r i d a t o W a s h i n g t o n s t a t e a r e adver tis ing for client s on the I nt ern e t o r i n n e ws p a p e r s a s t a n d a r d pr actice in pers onal injur y law. W e don' t th ink it' s a c oin ci den ce t h a t w e v e b e e n c o n t a c t e d b y s o many peop le who have been takin g A c t o s a n d h a v e b l a d d e r c an ce r s aid M arc Jay Ber n of Nap oli Bern Ripk a Shkol nik & A ss ociates "We h a v e m o r e t h a n 1 0 0 ( c a s e s ) t h a t w e v e c o n f i r m e d a n d m a n y m o r e th at we'r e evaluati ng." Taked a declined to comm ent on the lawsuits. The compa ny, w hich is b a s e d i n J a p a n h a s i s s u e d s t a t e m en ts th a t i t' s c o m mi tt ed t o ke e pi ng A ct o s a v a i l a b l e f o r p a t i e n t s w h o need it. S p ok e sw o m an E li ssa J oh n se n n ot e d a n A pri l stu dy i n th e jo urn al D ia b e t e s C a r e f o u n d A c t o s u s e f o r m o r e t h a n t wo y e a r s w a s w e a k l y ass ociated w i th i ncreas ed r isk ." How ev er, the FD A a nal yz ed da ta from the fir st five yea r s of a 1 0-year Ac tos s a fety study T a keda begun in 2002 an d c o ncluded t his Jun e t hat t he r i s k o f b la dd e r can ce r wa s 40 per cent higher for patient s t aking Actos fo r at l ea s t a year alth ough st ill s mall: an ext ra 28 cases a year for ever y 100,000 peopl e takin g it. Questions Erik Gord on, an analy s t and pr ofe ss o r at Uni ver s it y o f M i chig an' s R os s Sc h oo l o f B u sin e ss, sai d Fri da y t ha t t h e ne w s af e t y qu e s t i on s ar e "a b ig deal" for T akeda, par ticular ly s in ce th e Act os pat ent exp ir es in A u g u s t 2 0 1 2 T h e y m e a n A c t o s w o n t m a k e a s m u c h m o n e y a s exp ect ed in t he fi nal m on th s a nd t h e y d a m p e n p r o s p e c t s f o r t w o e x p e r i m e n t a l d r u g s T a k e d a w a s ho pin g wo uld s uccee d A cto s "O ne, al ogli pt in h as bee n s t uck at t he F DA o ve r s af et y con ce r ns a n d t h e o t h e r a c o m b i n a t i o n o f a l o g l i p t i n a n d A c t o s n o w l o o k s do omed ," Gor d on sa id. A l o g l i p t i n i s a n e x p e r i m e n t a l dr ug in th e s ame cl as s as M er ck & Co s b l o ck b u s t e r Ja n u v i a. T h o s e d rug s in c rea se pro du c tio n o f i nsu lin w h i c h b r e a k s d o w n s u g a r i n t h e bl ood and re duce g luco s e pr odu cti on in th e l iver L es F u n t l e y d e r an a n a l y s t a n d p o r t f o l i o m a n a g e r f o r t h e M i l l e r Taba k He alth C are T ransformation fund, s a id Januvia is likely to gain sales as patients defect from Actos. He doubts the cost of the bladder cancer litigation will hit the level of V i o x x T h a t s t h e p a i n k i l l e r t h a t Me r c k pull ed off the marke t in 200 4 b e c a u s e i t d o u b l e d r i s k o f h e a r t a t t a c k s a n d s t r o k e s t r i g g e r i n g m o re t ha n 5 0 00 0 la w su it s a nd e v e ntually, a $4.85 billion settlement to end most of them. Lawsuits follow diabetes drug link to cancer risk U.S. FOOD an d Drug A dmi ni st rat ion a n d the Euro pe a n Me di ci ne s Ag en cy ha ve is su e d w a rn ing s a bo ut th e ca n ce r ris k ba s ed o n ne w re s e a rc h b u t th e y h a v e a ll o we d s a l e s t o c o nt i nu e Do c t or s a r e b e in g t o ld no t t o p re s c ri b e A c to s fo r pe o p le wh o h a v e o r h a v e had bladder cancer.
THE TRIBUNE SECTION B TUESD A Y A UGUST 9, 2011 By ALESHA CADET Tribune Features Reporter F or award winning hairstylist Sharron Neely, creating the perfect style for her clients is more than a profession, it is a min istry. M s Neely of ficial ly began th is tr a d e o f b u s i n e ss a b o u t se v e n y e a r s a go and r ecent ly dazzl ed jud ges with h er artistic abil ity w hen she w o n t h e S t u d e n t C o m b O u t com petiti on a t th e N atio nal Institute of C osmeto logy in W ashing t o n D C t h e s c h o o l w h e r e s h e r e ce ive d h er B ac he lor's d egre e in C o s m e t o l o g y I c o n si d e r m y p r o f e ss i o n i n c o s m e t o l o g y a s a m i n i s t r y a s w e l l bec ause I de al wi th s o m any d iff eren t females fr om a l l w alk s of lif e. No t on ly de a li ng w i th t he ha ir b u t t h e m e n t a l a n d p h y s i c a l s tre ngth of a pe r son to know y ou ca n impa ct a p erson inte r n al a nd e xte r n al is a plu s fo r me. Of the c onfer e nc e, s h e sai d: It i s s t a t i o n e d i n Wa s hi n gt o n DC b ut it i s mo re l ik e a c o n v e n t i o n a l t h i n g w h e r e a s e v e r y y e a r t h e y mee t in a differ e n t s t a t e t h i s y e a r i t w a s h e l d i n I n d i a n a I n d i a n a p o l i s S h e s a y s : W i n n i n g t h e c o m p e t i t i o n m a d e m e f e e l l i k e I a m d e f i n i t e l y g oing up a notc h. I t m ad e m e f ee l e l e v a t e d I w a s u p a ga inst ta lente d p r o fessiona l c osmetologists from differ ent states so th at m a de me fe el rea l ly go od ." Ms Nee ly ha s also taken part in c ompet itions held her e i n t he B ah ama s She e xpl ains: I w on a c om p e ti t io n in 2 0 0 9 t h a t w a s h o st e d by th e Bi joux com pan y in Na ss au I al s o co mpe te d in t h e m os t r e c en t c o m p e t i ti o n t h a t w a s h e l d t his year as we l l but I did no t win t h a t p a r t i c u l a r o n e I t w a s a n e x c e l l e n t t ur n o u t o n m y b e h a l f I be l i e v e I d e f i n i te l y mad e a s t atem e n t t h e r e A we e k af ter th at i s w h en I t r a ve l e d i n t e r n a t i o n a l l y and w on the s tu d e n t C o mb O ut C o m p e t i t i o n My goa l is to ge t m y d o c t or a te I a m n o t s to p p i n g un til I g et it. I also w an t to con tin ue t o min ister, d efin itely ." Of fe ri ng ad v ic e fo r a spi ri ng c os m e to lo gy h op ef ul s, Ms N ee l y sa i d: D efini tely re ac h and g o out and do the be st that y ou c an d o. Also, lo ok at i t as a m inistry w he r e you c a n to u c h a p e rso n 's li f e A s l on g a s y o u v e g o t y o u r s p i r i t r i g h t r eg ar dl es s of wha t ki nd of st y le yo u ha ve o n, ev er yt hi ng wi ll be p e r f e c t F i nd ou t wh o y ou r ea l ly a r e an d ju s t don't do t he j ob b ec ause you have t o d o it, but d o som ethin g y ou love to do w hic h draw s ou t a d eeper pas si on in ano ther a r e a w h e r e y o u l e a s t e x p e c t i t D o n' t m ak e i t a r o u t in e in l if e ma ke it some thing yo u lo ve. She co ntinue s: I must s a y that my husba nd, Ri co Ne ely supp orts me 10 0 p er c ent. He is de finite ly t he d r i vin g f or c e in m y l if e an d w hat I do I also h ave twi ns, Ri co an d R ica h w ho are very suppo r tiv e, famil y i s impo r ta nt." "Ha ving to dea l w ith w ork and to kn ow th at yo u hav e a fami ly to c ome h ome to i s re ally rew ardin g. "My sal on is a sma ll one and I n orm al ly on ly g o by a pp oi ntm e nt s so i t is n ev e r cr ow de d b ut I a lw a y s ha ve a full book I c ho ose to w ork on a sma ll sc ale settin g, for ex ample o ne on on e," she ex plai ned. F or mor e inf or mat io n c o nt act "Fa bulo us R onni e B eau ty Sal on" at 36 4-05 17 Winning the competition made me feel like I am definitely going up a notch. It made me feel elevated. I was up against talented professional cosmetologists from different states so that made me feel really good. SUCCESS Sharron [left] at her graduation at the National Institute of cosmetology.
F F F F i i i i r r r r e e e e m m m m a a a a n n n n s s s s t t t t i i i i l l l l l l l l a a a a f f f f o o o o r r r r c c c c e e e e t t t t o o o o r r r r e e e e c c c c k k k k o o o o n n n n w w w w i i i i t t t t h h h h THETRIBUNE SECTIONETUESDAY, AUGUST 9, 2011 INSIDE TRAK 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 3 3 E E . . . T T U U R R N N T T O O 4 4 & & 5 5 E E . . . CUBA TAKES 1ST PLACE, TRINIDAD & TOBAGO 2ND BAHAMAS ENDS UP FOURTH IN U-17 BOYS CENTROBASKET CBC WOMEN PHOTO HIGHLIGHTS: BAHAMAS VS. ST VINCENT PISTORIUS CONFIRMED IN SA TEAM FOR WORLD CHAMPS LONDON VIOLENCE RAISES 2012 OLYMPIC CONCERNS T T U U R R N N T T O O 7 7 E E . T T U U R R N N T T O O 8 8 E E . . . By BRENT STUBBS S enior Sports Reporter b firstname.lastname@example.org E v ery year, Chris Fireman Brown has faced a new challenge f rom one of the rising young s tars. Yet, year after year, Brown h as proven that hes still a force t o be reckoned with. I just want to give the Lord credit for allowing me to display my talent and to have a great successful season like Ive been having, 32year-old Brown told The Tribune on his returnt o Atlanta from his latest meet in London over the weekend. I had a long career and Ive been enjoying it. Ive been having a lot of fun this season and my goal has never changed. My goal is to get a top three position at the European circuit andt he world championships. Ive been having a g reat season and Im confident that I can go out there and do something big at the world cham pionships and get on the podium. T he IAAF World Championships in Daegu, South Korea, is scheduled or August 28 to September 5. And Brown is expected to beo ne of the two competitors entered in the mens 400 metres joined by national champion Demetrius Pinder of Grand Bahama. Brown, a native of Eleuthera, is coming off h is final tune-up race before the championships at the Aviva London Grand Prix Friday where he was third in a time of 45.04 seconds. T he race was won by Grenadas Kirani James in the world-leading time of 44.61, fol lowed by Jamaican Jermaine Gonzales in 44.85. A merican Angelo Taylor trailed Brown in 45.04. It was pretty good. There was a lot of wind, said Brown as he summed up his per f ormance in the race. Being in lane three, you basically have to run a little harder than everyone else. But to be in lane three and to come out in t he top three position is pretty good. I came out injury free, so I felt great. The time doesnt matter to me right now, just as long as I get int he top three. All season long, Brown has been challenged by the group of younger quarter-milers, all hungry to make their mark. At present, Brown has posted the seventh fastest time in the world. Not bad for the 32year-old married father of a baby girl, considering that all of the competitors above him are at least 10 years younger. James, the current world leader, will be 19 on September 1 and his compatriot, Rondell Bartholomew, who sits in second, is 21. Pinder, who has the seventh best time, is 22. The rounds are going to tell it all. Its going to show who is who is who and who is fit and who really wants it the most, said Brown, who will be appearing in his sixth appearance at the world championships. Its good to see the guys in the Caribbean really stepping up their game. We have so many guys in the Caribbean now thats running so well. But for me, the generation that I start ed with, has been gone. Im running with a whole new generation, but to be running with them shows that Im blessed. As a firm believer in God, Brown said he doesnt mind the label being tagged on him as the old man of the crew. The father has to teach the kids so they A FORCE TO RECKON WITH: Eleuthera native Chris Fireman Brown competes in the Samsung Diamond League 400m race in Stockholm on July 29. (AP S S E E E E p p a a g g e e 3 3 E E
SPORTS PAGE 2E, TUESDAY, AUGUST 9, 2011 TRIBUNE SPORTS T HE Ed Armbrister Baseball League continued i ts regular season action with the following results posted last week: W W e e d d n n e e s s d d a a y y , A A u u g g u u s s t t 3 3 The Flyers are having a tough time beating Buttons Formal Wear in the EdA rmbrister Baseball L eague. O n Wednesday, Mikey Butler scored a run and drove in Cenario Cunningham with a double to lead Buttons Formal Wear to a 3-2 advantage over the Flyers before darkness fell in t he senior league game at Windsor Park. The twot eams will complete the game later this month. T T h h u u r r s s d d a a y y , A A u u g g u u s s t t 4 4 T he Tigers scored 15 runs in the first inning and thats a ll she wrote for the Bears as the Tigers roared to a 24-4 victory. It was the most lopsided game of theE d Armbrister Baseball League at Windsor Park this season. K yle Adderley had two hits and scored three runs, and winning pitcher PatrickJ ohnson also had two hits, including an inside-thepark home run. Bears thirdb aseman Georgio Henders on went 1-2 and scored a run. F F r r i i d d a a y y , A A u u g g u u s s t t 5 5 Buttons Formal Wear head coach Mikey Butler tookm atters into his own hands on Friday, literally. When scheduled starter N ario Archer was not r eady to take the pitching mound, Butler assumed the t ask, as he pitched Buttons t o a well-played 1-0 victory over the red-hot Reds in senior league action of the Ed Armbrister Baseball L eague at Windsor Park. Butler also scored the winning run on catcher Simeon Deans triple. The w in moved Buttons into a first place tie with the Reds, coached by Andy Percentie. G G A A M M E E S S C C H H E E D D U U L L E E T uesday, August 9 Tigers (orange team p lay the Bears (maroon team) in the age 12-14 junior division at 4:30pm Tuesday, August 9 Hawks (blue team p lay the Eagles (green team) in the age 9-11 little league game at 5:30pm Wednesday, August 10 T -Ball players (yellow team/under age 9) play a scrimmage game at 4:30pm Wednesday, August 10 Flyers and Reds will play a senior league game at 5:30pm Friday, August 12 Buttons will take on the Flyers at 5:30pm in senior league action Saturday, August 13 10am T-Ball players (under age 9 scrimmage game 11am Hawks (blue team) will play the Eagles (green team little league 12:30pm Tigers (orange team) will play the Bears (maroon team junior league action Sunday, August 14 Buttons and Reds will play a senior league game at 5pm, following the completion of an unfinished game. E E A A B B L L T T E E A A M M S S Standings as of August 5, 2011: A A g g e e 9 9 1 1 1 1 L L i i t t t t l l e e L L e e a a g g u u e e D D i i v v i i s s i i o o n n 1-2 Hawks (blue team coached by Mike Butler 2-1 Eagles (green team coached by Andy Percentie A A g g e e 1 1 2 2 1 1 4 4 J J u u n n i i o o r r L L e e a a g g u u e e D D i i v v i i s s i i o o n n 3-2 Tigers (orange team coached by Mike Butler 2-3 Bears (maroon team coached by Andy Percentie A A g g e e 1 1 5 5 o o v v e e r r S S e e n n i i o o r r L L e e a a g g u u e e D D i i v v i i s s i i o o n n * 2-1 Buttons Formal Wear (black team by Nat Butler 2-1 Reds (red team coached by Andy Percentie 0-2 Flyers (purple team coached by Mario Ford * T T w w o o g g a a m m e e s s t t o o b b e e c c o o m m p p l l e e t t e e d d i i n n t t h h e e s s e e n n i i o o r r d d i i v v i i s s i i o o n n Ed Armbrister Baseball League RESULTS Cuba strikes gold 21st Caribbean Basketball Confederation Womens Championships P h o t o s b y T i m C l a r k e / T r i b u n e s t a f f TROPHY AWARDS: Team Cuba (above with their first-place trophy in the 21st Caribbean Basketball Confederation Womens Championships at the Kendal Isaacs Gym. Trinidad & Tobago (below finished second overall while US Virgin Islands (not pictured was third. Trinidad & Tobago gets the silver
wont go astray, he quipped. So I dont have a problem a t all. At the end of the day, we all have to go through this showdown where today isy ou, tomorrow is me. Im just happy and joyful that Im still here and running as well as I a m. L ooking at his longevity in the sport, Brown credits it to the Lord and the support f rom his family, friends and fans, especially those residing throughout the Bahamas. Ive been very obedient a nd I learn how to follow instructions well, he said. The stronger my faith in theL ord and my belief in him, the more he has blessed me. At the world indoor champ ionships, I wasnt even con sidered a medallist, but look how the Lord has blessed me (to be the championt hese guys that Im going up against, time doesnt matter. You have to be able to do it at t he world championships in a few weeks. Over the years, Brown has b een known as the competitor w ho came so close to getting on the podium at the worlds. In 2009 at the last champi o nships in Berlin, Germany, he was fifth. The previous two championships in Osaka,J apan, in 2007 and Helsinki, Finland, in 2005 he was f ourth. In 2001, in his debut at the championships in Edmonton,C anada, he got fourth in his h eat and failed to advance to the final. Two years later in Paris Saint-Denis, France, hew as fourth in the semifinal. T his year, Brown is hoping that his wealth of experience will enable him to finally get on the podium as he has done at the world indoor championships three times gold last y ear in Doha, Qatar, after he had to settle for the bronze back-to-back in Valencia, Spain, in 2008 and Moskva in 2006. Brown is also the reigning Pan American Games champ ion in Rio de Janeiro in 2007. But he was also disappointed at the last OlympicG ames in Beijing, China, where he got fourth and ended up in that same position att he Commonwealth Games in M elbourne, Australia, in 2006. Having had to endure the l ong trek on the flight during h is latest tour that took him through Europe and then London, Brown said hes eager to take a couple of days off to recuperate before he resumes his training for thet rip to South Korea. Already, American Jeremy Wariner has announced that he wont be suiting up for thec hampionships, due to an injury. But Brown said while it opened the door, he really w ould have preferred to com pete against the 25-year-old, who relinquished his title tof ellow American LaShawn M erritt. You cant under-estimate anyone in the field, Brown said. I would have liked forh im to be there so that we can g o head-to-head and the best man can win. But this is what I asked the Lord to bless me with (good health continue to compete. The big-g er the battle, the sweeter the victory. So hopefully, with him not there, everybody can come to the table and per f orm because when I get there, Im definitely looking forward to competing. A nd with the Bahamas stacked with so many competitors now running the 400,B rown said hes also looking f orward to the mens 4 x 400 relay regaining its rightful position on the medal stand after failing to do so in Berlin. Weve been strong for so m any years, but once gain we have the perfect opportunity to go out there and represent the Bahamas very well, he said. I feel we have a great o pportunity to win the world championships as long as the guys stay healthy and we con tinue to gel together. We c ould go out there and do some big things. I think we have one of the deepest field o f quarter-milers to choose from, so I think we have a good chance of winning it. T hat would certainly make t he season an exceptional one for the veteran competitor. SPORTS TRIBUNE SPORTS TUESDAY, AUGUST 9, 2011, PAGE 3E Bahamas ends up fourth Under-17 Boys Centrobasket tournament in Gurabo, Puerto Rico THE Bahamas Basketball Federation (BBF scheduled to hold its third annual Summer of Thun-d er college scrimmages a t the Kendal Isaacs Gymnasium from August 10 to September 14. Teams from the University of Louisville, Creighton University, Gardner-Webb Universit y, University of North Carolina, Wilmington and Seattle Pacific University are expected to participate. H eres a look at the schedule of games beingp layed: W W e e d d n n e e s s d d a a y y , A A u u g g . 1 1 0 0 Louisville Red vs. White Scrimmage Game #0 @ 7:30pm T T h h u u r r s s d d a a y y , A A u u g g . 1 1 1 1 Louisville vs. Comm onwealth Giants Game #1 @ 7:30pm F F r r i i d d a a y y , A A u u g g . 1 1 2 2 L ouisville vs Real Deal S hockers Game #2 @ 7:30pm F F r r i i d d a a y y , A A u u g g . 1 1 2 2 C reighton vs. Bahamas All Stars Game #1 @ 9pm S S a a t t u u r r d d a a y y , A A u u g g . 1 1 3 3 C reighton vs Commonwealth Giants Game #2 @ 4pm S S a a t t u u r r d d a a y y , A A u u g g . 1 1 3 3 Louisville Red vs. White Scrimmage Game # 3 @ 6pm S S u u n n d d a a y y , A A u u g g . 1 1 4 4 Gardner-Webb University vs. Bahamas All S tars Game #1 @ 6pm M M o o n n d d a a y y , A A u u g g . 1 1 5 5 Creighton vs. Cybots G ame #3 @ 7pm M M o o n n d d a a y y , A A u u g g . 1 1 5 5 Gardner-Webb University vs. Commonwealth G iants Game #2 @ 9pm T T u u e e s s d d a a y y , A A u u g g . 1 1 6 6 C reighton vs. Real Deal Shockers Game #4 @ 7pm T T h h u u r r s s d d a a y y , A A u u g g . 1 1 8 8 C reighton vs. Commonwealth Giants Game #4 @ 7pm T T h h u u r r s s d d a a y y , A A u u g g . 1 1 8 8 University North Car olina Wilmington vs. C ybots Game # 1 @ 9pm F F r r i i d d a a y y , A A u u g g . 1 1 9 9 University North Car olina Wilmington vs. B ahamas All Stars Game #2 @ 7pm M M o o n n d d a a y y , S S e e p p t t . 1 1 2 2 S eattle Pacific Univer sity vs. Commonwealth Giants Game #1 @ 7pm T T u u e e s s d d a a y y , S S e e p p t t . 1 1 3 3 Seattle Pacific University vs. Real Deal Shockers Game #2 @ 7pm W W e e d d n n e e s s d d a a y y , S S e e p p t t . 1 1 4 4 Seattle Pacific Univer sity vs. Cybots Game #3 @ 7pm Summer of Thunder college scrimmages B y RENALDO DORSETT Sports Reporter email@example.com A DISAPPOINTING f ourth-place finish for Team B ahamas at the Centrobasket u nder-17 mens championship, but the Bahamas still produced some of the most impressive individual performances in the week-long tourn ament. W ith the 86-83 loss to the US Virgin Islands in the bronze-medal game Sunday night, the Bahamas failed to earn an automatic bid to the next Under-18 Tournament o f the Americas. L ourawls Nairn finished as t he tournament's ninth leading scorer and the leading scorer for Team Bahamas at1 6.2 points per game. A dual threat, Nairn also led the tournament in assists at 5.8 per game and was the f ourth leading shooter at the free throw line with 76 per cent, an average of 4.6 madep er game. Nairn had his best game of the tournament in the team's s econd game, a 100-59 b lowout win over Panama. H e finished two assists shy of a triple double with 17 points, 1 0 rebounds, eight assists and five steals. Back court mate Mikhail Rolle also had a tournament to remember. He finished sec-o nd to Nairn in assists amongst tournament leaders w ith five per game, and third in steals at 4.4 per game, while third on the team in scoring at 1 2.6 points per game. H is breakout performance c ame nearly instantly on day one when he opened with the t ournaments only triple double in a 98-79 win over Belize. Rolle totalled 18 points, 12 assists and 12 steals in the win. The Bahamas also boasted o ne of the top performing front-court tandems of the t ournament in Tavario Miller and Dwight Coleby. B oth players averaged doubles doubles and appeared amongst the tournament leaders in several statistical categories. Miller led the tournament in rebounds at 13.8 per game,f inished second in blocks with 3.2, and eight in steals at 2.6 per game while averaging 12.2 points per contest. In the semifinal loss to Puerto Rico, Miller's performance on the defensive endo f the floor stood as one of the highlight moments throughout the tournament for Team Bahamas. He reached his tournament high with 15 points along with 2 0 rebounds (16 defensive five blocks and four steals. C oleby scored 11.8 points p er game, finished fourth in the tournament at 11.2 r ebounds and third in blocks a t 2.4 per game. Coleby posted a tournament high seven blocks against Mexico and, against P anama, he had his best game with 18 points, 19 rebounds ( eight offensive) and three b locks. Adney Bethel averaged 15 points per game and led the team in scoring in two of its five contests. He shot 47 per cent from the field and 33 per cent from beyond the three-p oint arch. His 22-point effort in game one against Belize ranked as the top single game scoring output for any member of Team Bahamas. Khristen Francis was the t eam's top scorer of the bench at 7.2 points per game and led the team in three-point makes with five. Jeffrey Woodside was the team's most efficient threep oint shooter at 4-9, 44 per cent, while Stephen Strachan J r averaged 5.8 points per g ame. Puerto Rico finished as the t ournament's top team when t hey took the gold medal game with a 90-75 win over Mexico. Both teams qualified for t he 2012 FIBA Americas Championship a qualifier f or the World Cup. Fireman still a force to reckon with F F R R O O M M p p a a g g e e 1 1 E E CHRIS BROWN
P LAY ACTION: T eam Bahamas got the victory over St Vincent and the Grenadines, 52-47, in the Caribbean Basketball Championships womens tournament at Kendal Isaacs Gymnasium last week. Some highlights of the game can be seen here. SPORTS PAGE 4E, TUESDAY, AUGUST 9, 2011 TRIBUNE SPORTS 21st Caribbean Basketball Confederation Womens Championships Team Bahamas gets victory over St P 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 TUESDAY, AUGUST 9, 2011, PAGE 5E 21st Caribbean Basketball Confederation Womens Championships Vincent and the Grenadines, 52-47 P 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 BALL CONTROL: Team Bahamas got the victory over St Vincent and the Grenadines, 52-47, in the Caribbean Basketball Championships womens tournament at Kendal Isaacs Gymnasium last week.