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The Tribune.

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

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newspaper ( sobekcm )
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Spatial Coverage:
Bahamas

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

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Full Text
PAGE 2, TUESDAY, JANUARY 16, 2007

THE TRIBUNE





How the parties go about
choosing their candidates |

A cconnine toa
front page story in

The Tribune last week, for-
mer PLP Cabinet minister
and veteran politician

- George Smith upset some of
his colleagues when he pub-
licly lectured them about the
kind of candidates they
should offer in the next gen-
eral election.

It was good advice for both
political parties but more so
for Mr Smith’s party because
of present circumstances. The
PLP was in a bind before the
last election because not too
many people thought the par-
ty stood a chance of winning.
Neither did they. So they
made many mistakes.

They accepted a lot of
money from one particular
gentleman, not expecting that
they would be called upon to
meet his special demands in
the matter of a bank licence
that had been revoked. That
came back to haunt them
almost immediately.

They made some platform
promises apparently without
carefully considering whether
they could fulfill them once
in office. — ;

One of these promises
related directly to quality of
representation. That was the
commitment to create “a new
style of House of Assembly
committees Which will hold

public sessions before major .

pieces of legislation receive
final passage.”

Not one such committee
was appointed, even though
there were many opportuni-
ties to do so, if only as a trial
run on a particular piece of
legislation. The indecently
rushed legislation for the pro-
posed National Health Insur-
ance was a great opportunity.

The PLP also promised
constitutional reform and laid
out the process to be fol-



lowed. They were utterly
reckless and disingenuous
when they promised: “This
entire process of constitu-
tional reform, from start to
finish, can be achieved in one
year.”

They must have known
that was impossible. Even
after five years that process is
nowhere near completion.

One of the proposals
directly relating to general
elections was that “no
changes to constituency

boundaries are to be enter- —

tained within the six month
period preceding the consti-
tutionally-fixed date for gen-

-eral elections”.

Even without an amend-
ment to the Constitution or
relevant statute, the PLP gov-
ernment could have shown
good faith by at least trying
to stay within their own time-
frame, but they made no

effort to do that. The Bound-
aries Commission has yet to
report and the election is less
than six months away.

[ esienany it would be
nice if Bahamian
reporters would inform
themselves about the provi-

. sions of the Constitution and

legislation relating to the
date of a general election
before passing on inaccurate
information to the public. It
is not correct that the next
general election must be held
before May 2 this year, five
years after the date of the
2002 election.

The Constitution, Article
66 (3), says that Parliament,
unless sooner dissolved, shall
continue for five years from
the date of its first sitting
after any dissolution and
shall then stand dissolved.
Since this Parliament first
met on May 22, 2002, it will
stand dissolved on May 22
this year if the Prime Minis-
ter does not advise an earlier
dissolution.

The Constitution further
provides that writs for a gen-
eral election issued by the
Governor General are

. returnable within 90 days of

dissolution. However, the
Parliamentary Elections Act
brings it well within that peri-
od and sets the date for an
election at no less than 21
and no more than 30 days.
So the next election can
legally be held late in June,
but it is unlikely for any num-
ber of reasons that a prime
minister will take it to the
wire. Prime Minister Perry
Christie has already
announced that this year’s
will be held before May 2.

f our parliament is to
function as a modern

legislature then clearly the
political parties must offer
qualified candidates who,
should they be elected, will
be able to function as minis-
ters or to populate commit-
tees entrusted with oversight
of the executive and exami-
nation of proposed of legis-
lation.

Being qualified for the
political arena and for hold-
ing political office does not

necessarily mean having a

college degree. Some of our
most accomplished politi-
cians, including Sir Milo But-
ler and Sir Roland Symon-
ette, never saw the inside of a
university.

There are some in our par-
liament today with higher
education who seem inca-
pable even of reading a
speech convincingly, much
less engaging in real debate.

Neither does success in
other fields — the professions,
the arts, commerce — neces-
sarily amount to qualification
for politics. Qualification for
the political life need not be
the same mix in each indi-
vidual and can cover a wide
range of abilities, talents,

characteristics, knowledge |

and experience.
That is why the selection

of candidates by political par- -

ties is such an important
process, but a process with
guidelines and considerations
many of which defy being

reduced to writing.

In the present exercise, the
opposition has a decided
advantage over the govern-
ing party. The FNM has a
very small contingent of
incumbents with little or no
weeding out to do and a long
list of applicants from which
to make up a slate of 40 or

more. It is just the opposite ,

with the PLP. They have
much weeding out to do.
All political parties are

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coalitions of one sort or
another and tend to be frac-
tious. Differences in philoso-
phy can be a source of seri-
ous division; fights over the
selection of leaders can be
highly divisive with the selec-
tion of candidates running a
close second.

The processes in both
political parties are much the
same and it is not as simple
as, in the words of some com-
mentators, “giving the peo-
ple who they want”. Involved
in each case are the party
leadership, the constituency
branch, the candidates com-
mittee and the council of the
party.

All of these entities func-
tion as a series of sieves and,
while the common objective
is to win, there are often con-
flicting considerations. The
leadership has to think about
the appeal of the whole slate
nationally and about ensur-
ing that there is a sufficient
diversity of talent from which
to mount an effective admin-
istration in the event of vic-
tory.

The branch serves as the

party’s closest connection
with a constituency, and its
advice and consent are vital-
ly important. Without an
effective and committed con-
stituency organisation, the
chances of winning are just
about non-existent.

A candidate can be very
popular in a particular con-
stituency and still have a neg-
ative impact on the overall
slate. Back in the 1970s there
was a wealthy PLP applicant
who managed to ingratiate
himself with the branch but
about whom the party was
noi keen, and for good rea-

son. He got the nomination .

and won.

It can also be that there are
some things of a sensitive
nature that cannot be pub-
licly disclosed. The FNM had
a case where not even the
leadership was aware of a
particular propensity on the
part of one of its candidates.
He was nominated, won and
later became an embarrass-
ment. ,

Politicians, being human
like everybody else, some-
times succumb to the influ-
ence of personal animosities,
the pursuit of vendettas and
overweening ambition. °

In each case all of these
considerations are examined
in camera by the candidates
committee. At the end of the

_ day it is up to the council of

the party to sort it all out and
to settle any differences that
survive up to that stage.

The whole purpose of the
exercise is to give the elec-
torate the best possible
choice of a leader and slate
of candidates, and to give the
country the best possible rep-
resentation and governance
after the election.

sirarthurfoulkes
@hotmail.com
www.bahamapundit.
typepad.com

TROPICAL
Baa ity

FOR PEST PROBLEMS
PHONE: 322-2157



Cuba: Posada
should be
charged for
terrorism,

not just lying
B HAVANA .

CUBAN militant Luis
Posada Carriles must be
charged with terrorism, not
just with lying during U.S.
naturalisation proceedings,
the Cuban government said
Monday in criticising a
recent U.S. Justice Depart-
ment decision, according to
Associated Press.

"The U.S. government
knows very well — and has
all the proof — of the innu-
merable acts of terrorism
committed by Posada Car-
riles," the Foreign Ministry
said in the statement pub-
lished on the front page of
Granma, the Communist
Party's daily newspaper.

Posada, a former CIA
operative with ties to the
failed Bay of Pigs invasion
in the 1960s, is suspected of
plotting the bombing of a
Cuban jetliner 30 years ago
in Venezuela. He was
indicted last week in El

’ Paso, Texas, on charges of

lying on his application and

. under oath when applying

for naturalization to the
United States in September
2005 and April 2006.

The statement said the
foreign ministry hopes the
recent charges "won't
become a smoke screen to

_ extend immunity for the

serious crime of terrorism."

Cuba and Venezuela say
Posada, 78, should face trial
in the 1976 Cuban jetliner
bombing, either in
Venezuela or before an
international tribunal. But a
federal immigration judge
who ordered Posada out of
the United States ruled he
could not be sent to either
country.

Several countries have
rejected U.S. requests Posa-
da be sent there.

In last week's indictment,
Posada was charged with
one count of naturalisation
fraud and six counts of
making false statements in a
naturalization proceeding.

He said he traveled from
Honduras through Belize,
ultimately reaching the
United States near
Brownsville, Texas, with
the help of a human smug-
gler. But the U.S. indict-
ment alleges Posada actual-
ly entered the country by
sea on a boat with four oth-
er people.

The trip by sea was men-
tioned by Cuban President
Fidel Castro in a series of
speeches about Posada in
the spring of 2005. The
indictment shows that "the
U.S. government was
forced to admit that our
Commander in chief was
right," Monday's statement
said.

The indictment also says
Posada had a fake
Guatemalan passport bear-
ing his photograph and the
name Manuel Enrique
Castillo Lopez.

If convicted, Posada faces
a maximum of 10 years in
prison on the naturalisation
fraud count and five years
in prison on each of
the false statement
counts.

Cuba called for a more
serious punishment, saying
"the families of the victims
demand justice."

Posada has denied any
wrongdoing in the bombing,
which killed 73 people, or

_ any other attacks against

Cuban interests.

'
\





‘
«
s
3
in



wee

‘

PAGE 4, TUESDAY, JANUARY 16, 2007



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.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-199] ‘

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.

Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348



Palestinian state not the answer

THE consensus of much of the. foreign
policy establishment is that a Palestinian
state is key to a redemptive outcome of the
failing American intervention in Iraq.

Secretary of State Condoleezza Rice is
journeying through the Middle East seeking
to revive stalled negotiations between
Israelis and Palestinians. And she is lever-
aging that effort with Saudi Arabia, Egypt
and Jordan to get them to provide more
hands-on help to keep Iraq and Lebanon
from falling under Iranian sway.

Former White House National Security
Adviser Brent Scowcroft has spoken out
about the nexus between what is not hap-
pening in the Israel-Palestine conflict and
what is happening in strife-torn Iraq. He
said the “great turmoil” afflicting the Middle
East is fed by “a great sense in the region of

historical injustice.” That “injustice” is, of .

course, the existence of the state of Israel.

New York Times columnist Tom Fried-
man quoted the editor of Al-Jazeera, the
Arab television broadcaster, as saying: “It
gnaws at the people in the Middle East that
such a small country as Israel, with only 7
million inhabitants, can defeat the Arab
nation with its 350 million. That hurts our
collective ego.”

That being so, would an independent state
of Palestine, adjacent to a secure Israel, suf-
fice to assuage the Arabs’ deep hurt, as
Scowcroft, the Iraq Study Group.and others
contend? |

Much of the evidence points to the fact
that it would not.

President Bill Clinton in 2000 was pressing
a compromise on the Israelis that would
have given the Palestinians all of Gaza and,
according to Dennis Ross, an American
adviser, 97 per cent of the West Bank.

Yasir Arafat rejected the deal and
launched the intifada that created the dete-
rioration that prevails to this day.

History has a way of overtaking the best-
laid plans, including the Road Map that the
U.S. and European Quartet plus Russia out-
lined.

When Israel decided to pull out of its
occupation of the Gaza Strip, it was seen as
a test of what would happen if Palestinians
were in charge of their own destiny. The
result was an assault by rocket fire on Israel

as various Palestinian factions competed for ,

prestige in continuing the attacks.



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This resembled what had happened when
Israel earlier withdrew from Lebanon after
occupying a southern strip for 18 years. The
result was the rise of Hezbollah, an instru-
ment of Iran.

Well-equipped and trained, it fought off
Israel in a 34-day war in which it had the
capacity to launch some 4,000 missiles,
increasing its stature in Lebanese politics.

In the Palestinian territories, the U.S.
insisted on democratic elections, bringing
Hamas to power. Hamas refuses to recog-
nize Israel or honour previous agreements
with Israel forged by the Palestinian Author-
ity. A fundamentalist movement, financed
and mentored by Iran, Hamas’ virtue was
incorruptibility in civic affairs compared to
the Palestinian Authority and Fatah, whose
rule spawned corruption and criminal gangs.

Thus, ironically, the very people who were
supposed to be disarmed under the terms of
the Road Map had attained political power
and expanded their militia.

Today bloodshed between the PA and
Hamas has left Gaza in the grip of daily ter-
ror and chaos. ;

In light of present realities, a Palestinian
state would not be the stable, independent,
democratic and peaceful entity envisioned.
Instead it would be an aggressive state con-
trolled by Hamas, adhering to its dedica-
tion to the destruction of Israel.

It would remain influenced and armed by ©

the rising ambitions of the Iranian leader-
ship, which has said that Israel should be
wiped off the map. Or it would be a state
controlled by the successors of Arafat pre-
siding over a melange of Mafioso godfa-
thers and warlords. inescapably under pres-
sure from Tehran through the Hamas move-
ment, a regime devoted not so much to
improving the lives of its citizens as to dis-
tracting them with continued terror attacks
on Israel.

Neither eventuality would contribute to
Middle Eastern stability. Even under its pre-
sent lightweight leadership, Israel would not
put up with it.

The outcome would not be a calmer Mid-
dle East sought by the analysts. The sore
would continue to fester.

(This article was written by
Harry Rosenfeld, editor-at-large of the
Albany, N.Y., Times Union c. 2006)





EDITORIAL/LETTERS TO THE EDITOR

NOTICE is .hereby given that LUCILE MENELAS OF
4TH STREET,THE GROVE AND ROBINSON ROAD,
P.O.BOX N-8161, NASSAU, BAHAMAS is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/

THE TRIBUNE —

In society |
we must fit

together |

EDITOR, The Tribune.

NO, MR PRIME MINIS-
TER. I say, “No!” to what
you said and didn’t know
you said.

But what is true for

Adam, your other children,
your wife and you, must be
true, not just for y’all, not
just for your family, it must
be true for the Bahamian
family — for this entire
country of which you’re
Prime Minister. We must
all have that right you

described — to the Good

Life — to life away from
nightmare.

This is what Gandhi
advocated for India. This
is what Christ and what I
advocate for mankind —
something in which we can
all participate fully and
equally. You are elitist oth-
erwise as people with edu-
cation, with affluence are
usually inclined to be.
Deceived, they see them-
selves among those who
have. The rest of us are
among the have-nots — the
unfortunate — the misbe-
gotten — les damnés de la
terre — the wretched of the
earth.

We though are all cells
of one body, literally — as
body politic implies and
means figuratively. But this
is how it is. Individuals and
families, like prisoners, all
live in cells. This though is
true for prime minister —
church minister — bank
manager. We all-live in
cells. But these are all cells
of one body —- the body
that’s: nation or the body
that’s mankind. We all
belong to. one species.
Place these cells in a sin-
gle organism Of this species
and we see the dynamics in
the species clearly.

Cut your toe or cut your
finger; bite your lip or
tongue; slip and fall or
buck your toe; catch a cold

or eat something which.

results in stomach upset or
diarrhea and the entire sys-
tem’s out of whack.

This is where you must
exist as Prime Minister or
as the lowliest person — as
this is what it means to be
human. Could you possibly
promote or advocate for
your body or in your body
— well cells and sick cells —

naturalization should not be granted, should: send a written
and signed statement of the facts within twenty-eight
days from the 16th day of January, 2007 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas.

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P.Q. Box N-44
Nassau, Bahamas



Ome

letters@triounemedia.net






rich cells and poor cells?
Whether that cell is in the
brain or in the bladder or
in the spleen (wherever
that is), it is equally signif-
icant to the well-being of
the body — of the body
politic or to the family of
man.

This is Christ’s message.
This is truth and cannot be
made or made to become
false in our present dis-
pensation. We are not now
living in heaven and hell
though many imagine we
are.

What*‘happened on that
ship to persons off to an
excursion was hell, Mr
Prime Minister. It was hell
and it was The Bahamas —
our Bahamas - your
Bahamas. But that is where
some in The Bahamas live
24/7 — in hell and that
should not. be, especially
not in such a small coun-
try.

But there are those — you
and I among them - who
want heaven for ourselves
and so what if others
catchin’ hell. Let them
catch hell eternally — is the.
attitude of some of us but
here and now - here an
earth — we want our bit of
heaven for ourselves and
for our families.

When one cell though is
sick, the entire body is
unwell. When one person’s
in prison or on an unsafe —
uninsured ship — just as we
were once in misery in
holds of ships — the entire
body suffers — in spite of
our buffers — in spite of our
imagined comfort zones.
Asses in vehicles with their
music loud come to mind,
imagining they’ve enclosed
themselves — imagining
they’re encased in a bub-
ble — traumatising whoever
is on the other side of their
wall of music.

The cells of our bodies -

like the cells we live in —
as family or as individual —
are encased in what are not
cases at all. Cells in our

bodies as well as we our-

selves, are walled in semi-
permeable membrane.
Osmosis is without end
occurring. And osmosis ‘is
the process by which a
weaker solution passes
through a semi-permeable
membrane into a stronger

~

‘
'

solution. Equilibrium is;

‘what is sought as well as

promoted in nature — in an

amoeba in a pond - in the,
human body — in society — ,
in the human family — in,
creation because as large

as creation is, it is one:
thing. It has one God who::
spoke it into being and:

who sustains it.

We, Mr Prime Minister’
are his agents or are we?
Some are paid to be. All:
are called to be — to create
harmony. Is this not what;'
music is — a fitting together ,
of sound? t

We in society, sir, must
fit together — must sit
together. Not some high |
and some low. Not some on .
cushions — some on fire —
some on ice. We all want |
and deserve what’s nice.
Some arm themselves with
education. Others, arm.
themselves with knives, -
others with guns. Some’
arm themselves with peace, :
others with war; some with '
honesty others with trick- -
ery and with lies. But the-'

well-being of the entire--." ~

body is what each cell must | —
desire just as must every”
member of society. 3
‘A Prime Minister as well '
as other such leaders must
set the example — must pro-.
mote this spirit. I know
Perry Christie has been~,
called. I know you’re on!
your way. The hand of;
mercy upon you — upon us*;
— invites you — invites us to,‘
extend our hands in mercy».
— to rest them upon all the*
suffering. :
We need more love in-
our land and on earth -:
more wellness — more har-+
mony. Everyone and every '.
family, deserves that zone |
— that sense of well-being |
you claim for you and‘
yours. | :
Who, this instant among ;
us is without it? Who in’
our country at this present ,
moment has something:
extremely dangerous hang- '
ing, hovering over their.
heads which might, any’
instant, fall upon them —
upon their babies - upon ,
their loved ones to maim»
them for life or kill them?’
Wherever this might be so.
is your concern — is my.
concern. ‘

®

OBEDIAH
MICHAEL

SMITH

Nassau, ;
December 23, 2006.

4
4
a
9
r

b
>
.

Informing man ‘the |
police have his picture’:

EDITOR, The Tribune.

THIS letter is to inform “the man” no “tief” wearing a green
baseball cap, big construction boots and belt, carrying a white
carrier bag who stole around $2,000 worth of Cuban cigars (in
yellow tubes and silver tubes (ie Cohiba - Monte Cristo - and
Hoya De Monterrey) from Leather N’ Things on PI, HHP ©
around noon on Monday. He was also singing a gospel song —

ha! ha!

Please note the police have your picture, thanks to a friend,
also your fingerprints and they are looking for you — sleep well.

NOT AS
STUPID

AS YOU
Nassau,
January 9, 2007.



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

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

Share your news












6 2 & aX“a





THE TRIBUNE





Oln brief

Young man
accused of
unlawful

intercourse

A YOUNG man from
Emerald Bay, Exuma
appeared in a Nassau court
yesterday accused of having
unlawful intercourse with a
girl aged 13.

Brian Mackey, 18,
appeared before magistrate
Marilyn Meeres at Court
Five, Bank Lane. It is alleged
that between Thursday, Jan-
uary 11 and Friday, January
12, Mackey had unlawful
intercourse with a 13-year-
old girl while in New Provi-
dence.

Mackey was not required
to plead to the charge and
the case was adjourned to
April 17.

Young man
accused of
unlawful

intercourse

A FOURTH man has now
been arraigned in magis-
trate's court on drug conspir-
acy charges involving some
714 pounds of marijuana.

James Rahming, 43, was
arraigned yesterday before
magistrate Carolita Bethel at
Court Eight, Bank Lane,
where he pleaded not guilty
to conspiracy charges, name-
ly that between November 4
2006 and November 21 2006
he, along with others, con-
spired to possess. with the
intent to supply and con-
spired to import a substan-
tial quantity of marijuana
into the country.

Rahming will return to
court on January 24 for a bail
hearing.

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AN additional identification
logo is to be placed on aircrafts
to indicate whether or not they
have been officially certified to
provide charter services.

The new requirement was
created by the Ministry of
Transport and Aviation in an
effort to increase public safe-
ty.

In addition to the logos, each
company’s operations specifi-
cation will come under an
assigned numbering system,
explained Captain Patrick
Rolle, the manager of flight ser-
vices.

“Chances are that if you char-
ter an illegal aircraft, you may
not be. advised of liability in the
event of an accident, and pri-
vately owned aircraft conduct-
ing commercial flights become
ineligible for compensation in
the case of injury or death,”
Captain Rolle said at a press
conference at the Ministry of



By PAUL TURNQUEST
Tribune Staff Reporter

STUDENTS from Columbus
Primary yesterday paid homage
to civil rights leader Dr Martin
Luther King during the official
visit of US Ambassador John
Rood.

The ceremony on Dr Martin
Luther King Day, dubbed “Liv-
ing the Dream of Peace and
Equality” started with a prayer

‘for world peace by third grader

Angeline Cerenus and a scrip-
ture reading by second grader
Briana Benjamin.

Mr Rood and visiting US
Senator Bill Nelson from Flori-
da, along with aides from the
US Embassy, watched the
school re-enact the historic 1963
march on Washington DC by
Dr King and other civil rights
leaders, when the civil rights
leader made his famous “I Have
a Dream” speech.

Mr Rood said that Columbus
Primary had to be the most
“outgoing school” he had ever
visited.

The ambassador has nurtured
a reading initiative with local
schools since taking office as
the 11th US Ambassador to the
Bahamas — a programme that
he is eager to see continue even
after his departure in a few
months.

Challenge

Addressing the students, who
sat attentively under tents in the
school’s assembly area despite
the growing heat, Mr Rood said
that he hoped that other busi-
nesses would take up the cause
of reading to children at local
schools.

“I have to share a comment
the senator made,” Mr Rood

said, “He looked over at me:

during the presentations and
said ‘are all the children in the
Bahamas this talented?’ And I
said ‘yes, they are.’”

The ambassador thanked the
children for their singing, the

LOCAL NI ae

New identity los
certified charter

TUESDAY, JANUARY 16, 2007, PAGE 5

Ministry of Transport and Aviation
cracks down on industry ‘hackers’



Transport on Friday.

He explained that in the
majority of cases where com-
pensation is paid, liability flows
primarily to the party that is
deemed to “operate” the air-
craft.

Illegal operators, he said,
could expose the flying public,
company owners, managers and
pilots to civil liability, personal
liability, loss of insurance cov-
erage, regulatory sanctions and
increased fines.

All charter companies oper-
ating in the country carry a valid
Air Operator Certificate

US ambassador

@ STUDENTS at
Columbus Primary
School recreate the scene
when Dr Martin Luther
King marched on
Washington DC and
made his legendary ‘I
Have A Dreaim’ speech

play and rally re-enactment, and
especially the teachers for
preparing their students so well.

In recognition, he presented a
letter from US first lady, Laura
Bush, addressed to the school,
in particular the teachers, for
their work in furthering the
cause of literacy. — Lal

Mr Nelson said-that he could
not get over how well behaved
the children at the school were.

“These children, even down
to the first grade, I have never
seen such well-behaved chil-
dren. They sat there in those
chairs for well over an hour and
a half. Instead of being little
wiggle worms, they were noth-
ing but perfectly behaved little
students.

“And for them to have a
sense of the history of Dr Mar-
tin Luther King, and to express
it as they did today on Dr
King’s national holiday in the
United States, I think was just
wonderful. I’m taking this back
and I’m going to tell all my col-
leagues in the Senate about this
wonderful programme,” he said.

Principal Marcia Roberts
thanked the ambassador for his
visit, adding that his reputation
has far preceded him.

“An ambassador yes, but in
the halls of education, a gentle-
man who does not manage from
behind a desk but leads in and
through the trenches,” she said.

& AMBASSADOR John
Rood, accompanied by
Florida senator Bill
Nelson, are greeted by
the children at the

school

(Photos: Patrick Hanna)

(AOC), and operate under
Bahamas Air Safety Regula-
tions (BASRs), which are the
general operating rules for air-
craft registered here.

Persons chartering an aircraft
should ask the pilot or company
to produce a copy of the AOC;
determine if the company has
a valid airworthiness certificate
which should always remain on
the aircraft, and ask the pilot to
show a current medical certifi-
cate and a copy of the license,
he said.

The ministry refers to illegal
charter operators as “hackers”.

If persons suspect that they
are dealing with a hacker, they
are advised to call Flight Stan-
dards and give the aircraft reg-
istration, the pilot’s name, date,
times and as much documenta-
tion as possible.

Those found operating ille-
gal charters can be fined up to
$1,200 for every leg of each
flight they carry out illegally,
Captain Rolle said.

The new logo will appear
either on the side windshield or
on the sides of the aircrafts. The
logo means the operator is an
AOC holder and is certified by





COMMONWEALTH BUILDING aan
Neal 7 ©2505 « ROBINSON RD. gcse) 351°8 mY e LOGWOOD RD.
0: Wt





the department to transport
passengers on a commercial
basis.

The colour scheme shows a
blue design on a bright yellow
background with red, white and
blue working printed thereon.
The words, “Certified Bahamas
AOC Holder” will be visible to
passengers.

It is different from the ais
plane’s registration number
which is found on the tail and
signifies the ownership of the
aircraft, explained Capt Rolle

In 2006, the Civil Aviation
Department certified over eight
new companies and for the year
so far, they have four new appli.
cants.

Capt Rolle also advised
Bahamians who charter flights
out of the country to make sure
the companies they are dealing
with have the proper documen-
tation to enter their destination
legally.

praises primary scho
during visit for Martin Luther King













PAGE 6, TUESDAY, JANUARY 16, 2007

THE TRIBUNE



Carey: PLP is the best
choice for economy

THE PLP has managed the
economy better than the FNM,
a government backbencher
claims.

Hitting out at opposition
leader Hubert Ingraham,
‘Carmichael MP John Carey said
the Bahamas has seen “sub-
stantive growth” over the past

‘four years, based primarily on
the anchor project concept
developed by Perry Christie.

“One could be flabbergasted
by the rhetoric that is being
uttered out of the mouth of the
leader of the opposition on his
new found knowledge of what
-he would do if he were prime
minister again,” Mr Carey said.

“Ingraham had LO years to do
all that he now vows he would
do if the FNM is returned to



ep eavement.



Anchor projects create potential for zero
unemployment, claims permanent secretary



government.”

According to Mr Carey,
before the end of 2007 the PLP
will have created “full employ-
ment” based on a seven per cent
unemployment level - “which
is statistically that reality based
on the International Monetary
Fund (IMF) definition.

“This means that when the
numerous anchor projects kick-
in over the coming [0 years, the
government has created a poten-
tial for zero unemployment even
when we take into consideration

the increase in the annual amount
of school leavers.

He said that in four and a half
years, the PLP had done a much
better job in terms of the level of
foreign reserves than the FNM

did i in nine years.

“The foreign reserves in 2002
were $373 million. The latest
report at November, 2006,

shows they are now $448.6 mil-
lion, having been ‘hit’ dramati-
cally last year as a result of
increased oil prices which cost
$135

some million. The



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Bahamas would have been
knocking at the door of US$1
billion in reserves if the cost
of oil had stayed level during
2006,” he said.

“Central Bank statistics show
just how vibrant the economy
has been and how the ‘lot’ for
the average Bahamian has
improved since 2002. Example:
B$. savings in 2002 were
around $645.4 million and at
November, 2006, it was
B$959.5m...fixed deposits in
B$2,287.8m in 2002 and at



i JOHN Carey

November, 2006, $2,760.3m.

“House mortgage rates have
decreased between 2002 and
2006 by nearly 2.5 per cent.

“The quality of life can in
some ways be measured by the
motor vehicles on the roads.
There are some 218,000 vehi-
cles now and the quality has
certainly improved over the
past 4.75 years.

“Recent numbers indicate
that Customs revenue has gone
over $1 billion in fiscal 2006.

“The Bahamian people know ‘

that the Christie administration
is a better choice to lead the
country,” Mr Carey said.

Injured customs officer calls
for assistance from NIB

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT -— An injured
Customs officer is claiming
that National Insurance’s fail-
ure to pay her benefits relating
to an industrial accident in
2005 has left her virtually des-
titute.

However, NIB officials said
that the matter is being care-
fully reviewed and investiga-
tions are underway to deter-
mine whether the woman is
not feeling the effects of pre-
existing injuries.

Theresa Adderley-Butler,
who has been employed in the
public service for 30 years, has
not been able to work since
last March.

According to Ms Butler, she
sustained serious hip injuries
after a bad fall last February
while stationed at the Lucayan
Harbour warehouse.

Ms Butler had also been
injured in a serious traffic acci-
dent in May 2005, in which,

. she says she sustained a head

injury and several fractured
ribs.

All of Ms Butler’s savings
have been exhausted on medi-
al bills and other expenses. “I

am on the verge of losing my | :

home and my car. I feel
absolutely helpless,” she said.

Ms Butler said the Customs
Department submitted all the
necessary documentation
regarding the industrial acci-
dent to NIB in June 2006.

She fears that her time to
receive any benefits will expire
this February.

Anthony Curtis, deputy
director of NIB, said that a
claim has to be submitted
within six months.

Mr Curtis stated that Ms
Butler has received benefits
from NIB for injuries previous
to her claim in February. He
said that her claim is still being
processed and investigations
are being conducted to deter-
mine whether the injury was
not from the car accident.

« ANDRE},
3 SCHOOL Vs

the International School of The Babamas
FOUNDED 1948



In brief

Police look
for suspect
after armed
robberies

POLICE are investigating
two separate armed robberies
which occurred in the St Albans
Drive area early Monday morn-
ing, roughly half an hour apart.

According to press liaison
officer Inspector Walter Evans,
the first incident occurred short-
ly after lam, when a 22-year-
old St Albans Drive man was
standing outside his home.

He was reportedly
approached by a man wearing
dark clothing and armed with
man a silver handgun.

The assailant reportedly
forced the man inside his home,
and then stole money and a cel-
lular phone.

The robber fled the scene on
foot.

Police say that about half an
hour later, also in the St Albans
Drive area, a 22-year-old
woman who had just stepped
outside ‘her home_ was
approached by a man fitting the
same description — although this
time the robber had the lower
portion of his face covered with
red cloth.

The man reportedly robbed
the woman of two cellular
phones and then fled the scene
on foot.

Police are investigating both
incidents.

Share
your
news

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

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












ACADEMIC SCHOLARSHIPS

A limited number of scholarships to attend St Andrew’s School is offered
annually to students attending Ministry of Education secondary schools.

These scholarships cover all tuition and book charges throughout years 10,
11 and 12. Eligible students should meet the following criteria:

e Attendance at a government school for at least two years, including

grades 8 and 9

e Be of the highest academic standing, maintaining a 3.0 GPA or above
e Be at least 14 years old and not older than 15 years by 31 st August

2007

Applications will require the endorsement of the principal or guidance counsellor

of the student’s school.

The students awarded these scholarships will be

expected to follow a full programme of BGCSE and advanced courses leading
to graduation at the end of year 12.

The scholarships will be awarded on a competitive basis and all candidates
will sit the scholarship examinations at 9am on Saturday, 10 March 2007 at

St Andrew’s School.

and interviewed.

Successful examination candidates will be short-listed

Application forms will be circulated to the Ministry of Education secondary
schools in New Providence and several in the Family Islands or can be
obtained from the administration office of St Andrew’s School.

Further details are available from St Andrew’s School, telephone: 1-242-324-

2621.

Application forms should be returned to: -

Robert F. Wade .
Principal

St Andrew’s School
The International School of The Bahamas
PO Box EE 17340
Nassau, Bahamas

The closing date for applications is Wednesday, 28 February 2007.

is Authorized by:

'< INTERNATIONAL BACCALAUREATE [ope

ORGANIZATION

Accredited by:

eS COUNCIL OF INTERNATIONAL SCHOOLS
EX, NEW ENGLAND ASSOCIATION OF SCHOOLS

& COLLEGES





.-,
'4+e

OM cg

ear ate

we

ONS AB Rl TE Th re

rare

TT

GS oe ee

THE TRIBUNE

TUESDAY, JANUARY 16, 2007, PAGE 7





ole eS

FNM ‘have hurt
election chances’

@ By RUPERT MISSICK Jr
Chief Reporter

THE public position he and
other “core” FNMs have taken
against Opposition Leader
Hubert Ingraham has hurt the
FNM’s chances of becoming the
next government, former FNM,
now Independent candidate for
Bamboo.Town Tennyson Wells
said yesterday.

However, FNM insiders have
told The Tribune that not only
does Mr Ingraham enjoy the
support of 95 per cent of his
party, the opinions of “dissident
FNMs,” like Mr Wells, have not
been a consideration of the elec-
torate.

' “T have never been asked by
anybody in Holy Cross what |
feel about Mr So-and-So declar-
ing his love for Mr Christie or
otherwise,” former FNM Chair-
man and Holy Cross hopeful
Carl Bethel said.

He maintained that the gov-
erning party held a survey that
clearly showed that Mr Christie
has a lower approval rating than
Mr Ingraham when it comes to
being a decision maker.

“To address that, the govern-
ment has a sustained policy to
demonize Hubert Ingraham and
call him names like dictator and
other things,” Mr Bethel said.

This begs the question, how-
ever, as to what persons like
Messrs Wells, Pierre Dupuch
and Algernon Allen, who spent
much time in building the party,
would have to gain in destroy-
ing it.

For Mr Bethel the answer is
quite simple. “Some people
unfortunately in the FNM have
shown the tendency, when they
have not been able to achieve
whatever goal they have set for

’ themselves, to feel that it is in

their interest to try to destroy
the organisation rather than
accept the verdict of the party.
That is not stopping or imped-
ing the FNM from achieving its
potential in the next election,”
Mr Bethel said.

Former FNM junior minister
Lester Turnquest said yester-
day that “this is the kind of

ETT













8 S | anes
@ CARL Bethel has accused
the government of trying to
‘demonise’ party leader
Hubert Ingraham

political retort one would
expect,” but it did not change
the fact that “in most of the cas-
es most persons who are FNMs
have concerns about Mr Ingra-
ham’s.leadership.”

“Many of these persons have
articulated their reasons for
their opposition to his return as
leader. (Many of them) sup-
ported Senator ‘Tommy ‘Turn-
quest. Mr Allen and myself ran
for the leadership of the FNM
and if it were in fact the case of
personal ambition why hasn’t
anyone spoken against Mr
Turnquest?

Mr Wells maintained that his
own opposition to Mr Ingraham

_is not personal but based on his

performance over the past ten
years.

“Anyone who: had a differ-

ent point of view was stifled and
victimised. Algernon Allen
spoke up, Lester Turnquest

‘made his position known, Floyd

Watkins, all of these people are
doing quite well without Ingra-
ham or politics and they are
making it quite well on their

eer sae

own. But there is a special inter-
est group who have done noth-
ing for themselves. Now they

are out of power, now they are ~

not doing anything for them-
selves or the country. They want
some appointed position so they
can get a free ride. The FNM
is suffering from the selfishness
of those few people,” Mr Wells
maintained.

However, one chief FNM
strategist, who chose to remain
nameless, said that: the only
effect of such comments was to
galvanise the party's core sup-
porters.

“A lot of our supporters have
gotten fed up with it and. they
are calling into radio shows now
each time these guys are on
talking the same foolishness
again and again.

“Roston Miller (a former
FNM senator who appeared on
Jeff Loyd’s talk show Issues of
the Day on More FM last week)
for example was angry because
he was only allowed to serve as
a senator for two years,” he
said.

“They come off as having a
very selfish agenda and their
main point of attack is Hubert
Ingraham and not identifying
any real issue.

‘Take Lester Turnquest for
instance, he served in the gov-
ernment with Hubert Ingraham
and was a junior minister at all
relevant times up until the time
when we lost and now suddenly
Ingraham is this awful person
now,

Mr Turnquest said the issue
for him is not whether he has

-left or is loyal to the FNM, the

issue is that he does not want
Mr Ingraham returned to the
leadership of the country,
because in his opinicn, it is not
in the national interest:

requires

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PAGE 8, TUESDAY, JANUARY 16, 2007

THE TRIBUNE



Sa Vea re

In an exclusive interview with The Tribune, Chief



@ By Anastasia Stubbs



THE country’s judicial sys-
tem is reportedly being ham-
pered by the public’s lack of
intérest in serving jury duty.

‘Accredited - Registered

Judges have even had to
reschedule cases because poten-
tial jurors failed to show up for
court when summoned.

Some observers are con-
cerned that a growing number



Justic Sir Burton Hall speaks about one of the

problems facing the legal system in the country
and what can be done to resolve it |

of Bahamians make up excuses
in an effort to be exempted
from juries.

Trial by jury is one of the cor-
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of the constitution guarantees
a trial by jury to a person
charged with a crime.

In an exclusive interview, the
Chief Justice Sir Burton Hall
confirmed that in the Bahamas,
“there is a lack of enthusiasm
about persons in terms of hav-
ing to do jury service”.

Sir Burton said many experi-
ence a “feeling of dread when
they are so summoned.”

“Tt is a fact of life, and the
frustrations that persons who
do come out for jury service
express are that the reality of
making that sacrifice does not
always seem to be appreciated
by those of us who run the sys-
tem,” he said.

Sir Burton pointed out that
to an extent, this problem is not
peculiar to the Bahamas, but is
in fact ‘a worldwide phenome-
non in countries where the judi-
cial process involves jurors.

He explained that a trend has
developed — made worse by the
popularity of television dramas
involving jury trials — “where
even more intelligent members
of the public are led to believe
that trials move along at a dra-
matic pace, whereas in reality,
trials are by their nature delib-
erate, time consuming and
sometimes tedious processes.

“And very often jury service,
as I said, apart from the sacri-
fices that persons would have
made in having to put their per-
sonal lives on hold while they
come to sit in, involves very
often just sitting around in the
perception of the juror’s mind,
waiting for something to hap-
pen, while the whole machin-
ery, that is the criminal justice
system in terms of organising
witnesses and identifying

exhibits, and all of these things .

which as I said can be quite
tedious arid time consuming,
(continues).

“Therefore, it is not surpris-
ing that there is a lack of, should
I say enthusiasm about persons
in terms of having to do jury
service. There is more a feeling
of dread when they are so sum-
moned,” said the Chief Justice.

Apart from the time factor,
one of the main concerns of
potential jurors is the financial
loss they may incur, particular-
ly in the case of self-employed
individuals.

By law, individuals employed









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@ CHIEF Justice Sir Burton Hall

- in both the private and public

sectors are entitled to their reg-
ular pay once they are selected
to serve on a jury. However,
this presents a challenge for self-
employed people sitting on the
jury — who at the end of the day
cannot collect a paycheck.
Under the present system,

every potential juror is.entitled ,

to a fee of $15 per day for each

day or part of a day he is

required to attend court —
whether or not he or she serves
on a case.

However, this sum is not suf-
ficient to meet the living
expenses of many Bahamians.

Sir Burton agreed that the
remuneration of jurors and the
financial strain self-employed
people experience while serv-
ing as jurors is a valid concern.

“But practically speaking it
is at bottom a community ques-
tion which is going to have to be
answered on the political level
because it is parliament that
would have to make this provi-

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sion and I doubt that the state,
whether the Bahamas or any
other state, could really remu-
nerate persons for serving on
the jury,” he said. “It is and will
always be a form of sacrifice.”
He added: “I have the great-
est empathy for, for instance a
taxi driver or similarly self-
employed persons, who have;no
means of income:while they are
doing this work. And indeed

even:those persons; who:arenot:..

self-employed who are in the
employ of others. Employers
are not enthusiastic about hav-
ing to continue to pay the
salaries of persons who are not
in a physical position because
they are elsewhere to provide
the services for which that
employer has hiredthem.” _ .
The Chief Justice concluded
by noting that it is one of those
vexed questions which the com-
munity as a whole is going to
have to address if Bahamians
wish to retain the constitutional
guarantee of trial by jury.


























ee are ee a Te Par

waeeewe - + - a ee me ee at.

ser ee tee ge EET Ae ie BO SO

\





vs



THE TRIBUNE

TUESDAY, JANUARY 16, 2007, PAGE 9



@ VINCENT
Peet and Perry
Christie tour
the new state-

of-the-art cafe- —
teria on a tour
at the North
Andros High
School

deeeevecvcceccccccccccccsececcsscosevees,

Complaints hy
FROM page one

of the complaints, The Tribune vis-
ited some of the residents yester-
day morning, but this time a pho-
tographer accompanied the
reporter.

The first resident interviewed.

spoke on the condition of
anonymity.

According to this woman home-
owner, the proposed recreational
park to be built in the subdivision
will be constructed near a “drug
haven”.

“This is supposed to be a park,
but there is a drug dealer living to
the left of the park,” the single
mother claimed.

The concerned home-owner

said that when the park is finally.

built there will be buyers and sell-
ers of drugs in the immediate vicin-
ity of the park, and that her young
son would be exposed to this illegal
and dangerous activity.

The woman said government
has not told residents when the
park is expected to be completed.

Additionally, the woman -

claimed that she has yet to see a

residents of Excellence Estates

garbage disposal truck in the area
since she moved into the subdivi-
sion in November.

“I have to carry my garbage to
the dumpster myself,” she said.

The woman also complained
about a “filthy” dump site, which is
located near the homes.

Ms Stephanie Sargent of house
No. 46 accused a Ministry of Hous-
ing employee of abusing his posi-
tion in the area.

She said: “If they see a single
mother living in the house, they
will keep on coming around,
because they want the women to
be nice to them, so that they can
give them favours.”

Ms Stubbs demanded that the
housing minister “restrain” his
employees.

The Tribune tried to speak with
Housing Minister Neville Wisdom
and Housing Permanent Secretary
Leila Green, but calls were not
returned.

However, Gordon Major, the

~ director of technical services at the

Department of Housing said: “I
read the story in the paper and
I’ve asked my inspector to investi-
gate all of the complaints and pre-

ae ree

MONTROSE AVE

“PRICE INCLUDES: FIRST
LICENSE & INSPECTION





pare a report and he should be
doing that today.”

Mr Major said he expected to
get the report by Tuesday.
_ The Tribune asked Ms Liana
Carey, a spokesperson for the
angry home-owners, why she
believed the ministry of housing
had failed to address their con-
cerns. “Minister Wisdom is just not
a man of his word,” she claimed.

Dolphin
FROM page one

covered she had come down
with zygomycosis, an often fatal
and mysterious fungal infection.
_ Tessie originally spent some
time in the Gulfarium in Fort
Walton Beach, Florida while
the rest of the group headed to
the Bahamas.

However, last August, Tessie
was finally shipped to the
Bahamas because she seemed
to be doing well, said Don
Abrams, general manager at
Gulfarium.

SRVICE FREE

MINISTER of Financial
Services and Investments and
Member of Parliament for
North Andros and the Berry
Islands Vincent Peet takes
Prime Minister Perry Christie

on a tour at the North Andros
High School, walking past the
new three-classroom block
currently nearing completion,
as they arrive to attend the
school’s Agriculture Science

os Hig



and 4H Club Rally and
Exhibition yesterday in
Nicholl’s Town, North
Andros.

(Photos: BIS/Tim Aylei)

The Bureau of Women’s Affairs of
The Ministry of Social Services &
Community Development
Invites You To A Public Forum On

The Proposed Domestic

Violence

(Protection Orders)Act, 2006

Thursday, 18 January, 2007 At 7:00p.m

Workers House

Tonique Darling Highway

Come Out And Let Your Views Be Heard!

For Additional Information please call
The Bureau of Woman’s Affair at 356-0244/6

PARTS & SERVICE ASSURED

PHONE: 322-1722 FAX: 326-7452

FULL TANK OF GAS



FULL SET FLOOR MATS”





kr

out the Schengen zone.

At present, there are 15 Schen-
gen countries, which are all in
Europe.

The 15 Schengen countries are:
Austria, Belgium, Denmark, Fin-

land, France, Germany, Iceland,’

[taly, Greece, Luxembourg,
Netherlands, Norway, Portugal,
Spain and Sweden. All these
countries except Norway and Ice-
laud are European Union mem-
bers.

Minister Mitchell said that as a
result of the closure of the
Netherlands Consulate, there are
no foreign embassies that issue
Schengen visas in the Bahamas.

Minister Mitchell said: “We are
all now on a list where we will

PAGE 10, TUESDAY, JANUARY 16, 2007

not be required to have visas to
enter Europe, and this exemption
requirement for nationals of these
countries, including the Bahamas,
will come into force once a bilat-
eral agreement on visa require-
ments with the European Com-
munity and the Bahamas has
been concluded.”

The minister said that a num-
ber of countries in the Caribbean,
including Barbados, St. Kitts and
Nevis, and Antigua and Barbu-
da would be affected by the new
agreement.

The foreign affairs minister also
told the press that in order for
Bahamian goods to gain duty free
access to the European Union,



LOCAL NEWS

‘ommscoe Ered Mitchell on visas

the Bahamas has to sign onto the
“Cotonu” agreement.

The Cotonu agreement cur-
rently governs the trade relation-
ship between the Bahamas and
Europe.

However, Minister Mitchell
explained that on December 31,
2007 the duty free regime of the
agreement will expire because it
violates World Trade Organisa-
tion (WTO) rules.

According to him: “I’m pleased
to say that we have some kind of
consensus for the way forward
with this and one of the things
that the Bahamas will have to do
is to indicate to other countries in
the Caribbean what our trading














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position will be in regard to these
matters.
“We are part of something

called CARIFORM, which is the:

Dominican Republic plus other
countries in CARICOM, and it
is CARIFORM which conducts
the negotiations with the Euro-
pean Union on these matters.”

The minister said that once
“general negotiations” had con-
cluded, each country in the
Caribbean would be expected to
sign an Economic Partnership
Agreement (EPA), that outlines
the trade arrangement between
the particular country and the
European Union.

However, EPA’s have been
criticised by international organ-
isations.

In October 2004, a UK-based
Christian fair trade company
called “Traidcraft”, along with
partners from the UK, other
European countries and Africa,
launched the "Stop EPA Cam-

’ paign" at the European Social

Forum (ESF) in London, in the
hopes of stopping the Economic
Partnership Agreements (EPAs)
being negotiated between the EU
and 77 of the world's poorest
countries.

One hundred and twenty
organisations now support the
campaign, including ActionAid,
Christian Aid, the Catholic
Agency for Overseas Develop-
ment (CAFOD), Action for
Southern Africa and Oxfam



















called associate members.

such, he said.

off can be minimised.

said.

FROM page one Church

members of the Communion, while those opposed to it could be

‘This arrangement would be similar to that which the Church of
England has with some Lutheran churches in continental Europe.

The opposing provinces will be able to still participate in meetings
with the Anglican Communion, but will not be part of the group as

Archbishop Gomez. conceded that the Anglican Communion has
already lost many of its members over the Church’s handling of the
issue of homosexuality, mostly in the US, but said he hopes that the fall-

He said some members in the Bahamas may also leave the church
over this issue, but added that he had not given it much thought.
The Archbishop stated that the Bahamas and the West Indies have
always shared the view of the majority of the Anglican provinces.
“Some theologians say we must look at a new kind of anthropology.
Instead of talking about male and female we must talk about persons.
Any two persons may love one another, any two persons may marry.
“That is we believe, and I firmly believe, I couldn’t accept that
anthropology and that it is contrary to the teaching of scripture,” he





@ MINISTER of Foreign
Affairs Fred Mitchell —

International.

These NGOs worry that the
EU's propositions would hurt
small and vulnerable producers,
thus hindering any progress in
fair trade.

The NGOs are demanding that
the trade agreement should be
based on a “principle of non-rec-

iprocity”, with the African, © :

Caribbean and Pacific (ACP)
countries having access to trade

‘preferences and special and dif-

ferential treatment.

However, according to Minister
Mitchell: “The major difference
with the existing trade regime,
which is a one-way system, is that
it’s going to be reciprocal, in oth-
er words the Europeans are say-
ing if we open our markets to you
on this basis, you have to open
your markets to us on the same
basis.”



FROM page one © Warning

The Tribune was told: “People
are not pléased with the way this
thing is being handled. The two
vehicles were broken up badly.
Every windshield was shattered.”

The vehicles were parked in
Mathew Town near the Supers
nightclub where the beating inci-
dent originated.

Some officers took offence when
Mr Wilson started chatting with a
woman officer. They beat him out-
side.

As Mr Wilson fled, they caught
him and beat him again, this time
using a rock to pound his head. He
was left with two gaping wounds,
which friends feared were life-
threatening.

As locals came to Mr Wilson’s
assistance, and carried him off to
the local clinic, officers are said to
have shouted: “Let him die.”

The attackers were believed to
be from the Inagua Defence Force
base and a visiting patrol ship, the
Yellow Elder.

Yesterday, another source
warmed that, unless arrests are made

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soon, Defence Force personnel will
be attacked by locals.

“T think they are going to beat

up one of these fellows real bad,”
said the source. “The people here
suspect one of the guys involved in
the attack is a member of the
DEU.”
* The attack on the vehicles was
described as “an act of sabotage”
by one source who said things
could get worse unless justice is
served.

“This is definitely an act of retal-
iation. People don’t like the way
the government is handling the case.

“They think it is ridiculous that
no-one has been arrested so far, so
they are beginning to take matters
into their own hands. *

“The next thing is they will grab
themselves a marine to get

. Tevenge.”

Mr Wilson, who works for Mor-
ton Salt, has been off work since

the beating. He still requires medical

attention and suffers pain from back
and leg injuries.

ent communicator ©



FURNI



THE TRIBUNE




~Anti-drug
mission
FROM page one

ed the helicopters elsewhere,

that we got a commitment from

the government that we would
: still have helicopters here.
? Because this is so very impor-
tarit in our interdiction of all
these drugs that are now com-
ing from Colombia through
Venezuela to the island of His-
paniola, both in the Dominican
Republic and Haiti.

“They drop most of the
cocaine there by plane, then
they repackage it and send it
by boat. From there it either
goes to Europe, the US, or
Canada.

“Well if we didn’t have the
surveillance, the intelligence
operations, the cooperation
with the US and the Bahamas,
with assets such as the go-fast
boats of the Coast Guard, plus
the helicopters — if we didn’t
have those assets here, you
know where those drugs would
be coming. Right through here.

“That’s why it was so impor-
tant that when the US Army

needed the helicopters else- -

where, particularly central Asia,
that we get a replacement. And
what we are going to do is get a
newer helicopter, but it will be
a helicopter that will fill in
exactly for the Blackhawk heli-
copters that will be sent to Cen-
tral Asia,” Senator Nelson said.

With the replacement heli-
copter still not set to arrive in
the Bahamas till 2008, Senator
Nelson said this was. only
because of manufacturing
times. However, he said they
would be seeking to speed up
that process.

“The other commitment was
that the US Army will continue
to fund that mission down in

: Georgetown for the next five
: years. So it’s just a matter of
that unit staying there, and
keep operating when the heli-
copters leave sometime later
this year. Now that doesn’t
mean that we are going to be
blind, because we have heli-
copters down in Inagua (DEA),
and we have Coast Guard heli-
copters in Andros. So this is
just to make sure that we don’t
have a black hole in the middle

between Inagua and Andros,” -

he said.

Senator Nelson also advised
that he had already held meet-
ings with Foreign Affairs Min-
ister Fred Mitchell on Sunday,
which he stated went “very
well”. —

“Of course they are grateful,
because their question was:
‘Was this the beginning of the
end?’ Was the cooperation
between the Bahamas and the
US on all of this interdiction
going to start unraveling? And
I’m happy to say that it’s not.
The cooperation is strong. It’s a
strong bond, and it’s clearly in
the interest of both govern-
ments, and its people.

“And I can tell you, flying
down the whole Exuma chain
of islands, I couldn’t believe the
‘development that’s going on
there. All these resorts, all of
these privates homes that are
there. If you had nothing but
drug trade coming through
there, you wouldn’t have all of
that economic development
that is going on there in the
Exumas,” he said.

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THE TRIBUNE

scholarship programme

@ COB president Janyne Hodder makes an

_ TUESDAY, JANUARY 16, 2007, PAGE 11

address about the role of Family Guardian and its





Insurance firm is
recognised for
scholarship award

A LOCAL insurance compa-
ny has been recognised for help-
ing encourage talented young
Bahamians to stay in the coun-

try.
’ “COB’s President, Janyne
Hodder, thanked Family
Guardian for supporting a gen-
erous scholarship programme
for the last 18 years.

“Family Guardian is helping

us to build’ on-solid founda- .

tions,” she said, “And our stu-
dents are being allowed to flour-
ish thanks to scholarship pro-
grammes such as yours.

“At COB, soon to be the
- University of the Bahamas, we
believe that no country should
outsource its higher education.
You don’t export your best tal-
ent, and scholarships are help-
ing us to achieve that.”

Ms Hodder said that since she
took office in July 2006, she has
investigated the history of the
college’s relationships with its
donors and-Family Guardian

shines. as an exemplary donor ©

in both its commitment and its
generosity.

The college said in a state-
ment that it prides itself on
offering high standards of teach-
ing and meaningful curricula in
its effort to develop a better
educated Bahamian population.

“However, it recognises that ~

it cannot do all it wants to with-
out corporate partners prepared
to donate funds to assist it in its
mission,” it said.

On Thursday, January 11,

Family Guardian hosted a
reception at its corporate head-
quarters to recognise its six
2006/2007 scholarship recipi-
ents.
- The company’s vice-president
of human resources and public
relations, Anne Higgs, began
the informal reception by
expressing her pride and plea-
sure at having been involved
with the scholarship programme
since its inception in 1988.

“This reception is an annual
event,” she said. “We want to

get to know our students as |

more than a name and a grade
but. as part of Family
Guardian’s extended family.”

President and CEO of Fami-
ly Guardian, Patricia Her-
manns, welcomed the assem-
bled students, family members
and guests, and senior person-
nel from both COB and Family
Guardian and gave a brief his-
tory of the scholarship pro-
gramme.

Six students are supported
each year — four from New
Providence and two from the
Family Islands.



of things we
think, say or do

11s it the TRUTH?

2.\s it FAIR to all
concerned?

3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?

4. Will it be
BENEFICIAL to
all concerned?

www. rotary.org





8

i JANYNE Hodder, president of COB,



Pg

Family Guardian

president and CEO Patricia Hanna and COB director of
financial aid and housing Cheryl Carey, with the six students who

have been awarded scholarships

Mrs Hermanns spoke of
Family Guardian’s strong,
unwavering commitment to the
programme and the college and
noted that in the 18 years since
the annual award began, Fami-
ly Guardian has donated over
$250,000 to assist more than 80
students in their endeavours.
“We were proud to double the
amount of our annual award in
1999,” she added, “And we are
equally proud to announce an
increase of $5,000 this year.
From 2007 the award will be
$25,000 per year.”

Mrs Hermanns closed by
wishing COB continued success
and further expressing Family
Guardian’s support to the col-
lege in all that it is attempting to
achieve.

Each student then stated his



from people who are
making news in their
neighbourhoods. Perhaps
) you are raising funds for a
good cause, campaigning

i for improvements in the
area or have won an
award.

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

hare your news

The Tribune wants to hear

(Photo: Tim Clarke)

or her major — which range
from accounting to culinary arts
and from banking and finance
to education — before: Cheryl
Carey, director of financial aid

and housing at COB, spoke of -

the’ students’ responsibilities)as
“social changing agents” in part-

‘nership with the college. o” *

Students Aleshia Colebrook
and Denika Major both said

how vital the scholarships were -

to their attending COB and
expressed their gratitude to
Family Guardian.

Roderick Malone, who is
studying law, said that such are
the demands of the law pro-
gramme that he has no oppor-
tunities to work, so without the
scholarship he would not be
able to pay for his tuition. He
also expressed his gratitude.

















DELTEC BANK & TRUST congratulates NICOLE THOMPSON on recently passing the Series

| 6 and Series 7 exams in Fort Lauderdale. The Series 6 is the NASD Investment Co. Products/V ariable

Contracts Rep. Exam and the Series 7 is the NASD requirement for Registered Representatives to

|) trade on the Stock Market Exchanges and in the Over-the-Counter Market. | Shown above are

\\ Angela Haven (Human Resources Manager), Nicole Thompson (Senior Operations Administrator)

and Sherene Saunders (Instructor for both courses and Deltec’s Mutual Fund Manager/Manager of
Processing, Operations).



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‘



A FRIENDLY REMINDER
MASS DISCONNECTION EXERCISES
IN THE FOLLOWING AREAS:

e Blair Estate « Johnson Road « Step St. ¢ Bernard Road
* Kool Acres © Fox Hill * Yamacraw Beach Estate « Elizabeth
Estate e Eastwood Sub ¢ Colony Village « Nassau East Estate
° Winton Meadows * Mason’s Addition * Leeward East &
Twynam Hwights ° East St. « Market St. ¢ Wulff Road |
e Blue Hill Road * Montell Heights « Ridgeland Park and all
side corners ¢ Pinewood Gardens « Joan’s and Domingo
Heights * Bamboo Town ¢ South Beach Marshall Road
e Seven Hills and Gamble Heights « Pastel and Faith Gardens
e Sunshine Park ¢ Silver Gates ¢ Golden Gates
° Blue Hill and Bel Air Estate.

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PAY ALL ARREARS ON YOUR BEC BILL IMMEDIATELY!

All overdue BEC payments must be made at the Head
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or the Main Post Office.

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PAGE 12, TUESDAY, JANUARY 16, 2007. THE TRIBUNE
. r ’ 24 r . rm ") 4 is l



Mioeertennalt

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SPORTS

The Biiawi Hecald |







TUESDAY, JANUARY 16, 2007 INTERNATIONAL EDITION








PRO FOOTBALL
COMMENTARY



MARK TERRILL/AP

COACH’S STROLL: Patriots head
coach Bill Belichick walks the
sideline as his team meets the
Chargers in their AFC playoff
game in San Diego on Sunday.

Never, never
write off
the Patriots

BY DAVE GOLDBERG
Associated Press
Someone always seems to make a
big play at a critical time to help the
New England Patriots win a game
they have no business winning.
Take Troy Brown, for instance,
New England’s 35-year-old wide
receiver/defensive back/return man.
Or Kevin Faulk, the Patriots’ do-it-all

' running back. Or even Stephen Gost- _

kowski, the rookie drafted to replace
Adam Vinatieri, the NFL’s best big-
- game kicker.

All three came through for the —
Patriots in Sunday’s 24-21 victory at
San Diego that sent New England to
_ the AFC title game in Indianapolis
next week.

Anyone feel like suggesting that

.the Patriots shouldn’t be favored to
win their fourth Super Bowl in six
seasons, equaling what Pittsburgh did
between the 1974 and 1979 seasons?

“I’ve said this many times,” one

~,.coach said after Sunday’s game. “In _
the playoffs, you’re given an opportu-

nity to make plays. And you have to °

_ seize those opportunities and make —

_the plays and youll benefit from

“those,” :

~ heimer of the Chargers, who domi-
nated the game physically but lost

- because they committed a couple of
.dumb emotional penalties that gave
the Patriots points. They also fumbled
at the worst time and squandered’
their timeouts, forcing them to try a
tying field goal from 54 yards with no
time left. —

That’s why Bill Belichick is 13-2 in’
the postseason and Schottenheimer is
5-13.

Belichick’s teams take advaritaze of

_ “the opportunity to make plays” — by

Brown, Faulk or Gostkowski. By Mike _
Vrabel, Richard Seymour, Tedy Brus-.

chi or Rosevelt Colvin.
Schottenheimer’s don’t.
. It’s not an accident.
The Patriots, just the fourth-seeded

_ team in the AFC, are never the same

from week to week. They’re a team

whose runners are far better than

their receivers — they stopped run-

- ning when they couldn’t Sunday and

still won despite being outrushed

148-51.
More important, Belichick seems
to instinctively know who'll help his
team after he lets the likes.of Vina-
tieri, Deion Branch, Willie McGinest
and other important players leave. It
all goes back to safety Lawyer Milloy,
who he let go at the start of the 2003
season, just after the Patriots had won
the first of their three Super Bowls.

Belichick doesn’t necessarily select |

“stars” for his team.

‘Despite their success, the Patriots
usually have fewer Pro Bowlers than
other good teams, such as San Diego,
which had nine this season. New Eng-
land has one: defensive lineman Rich-
ard Seymour, who because of injuries
wasn’t as good as he usually has been.

But he gets playmakers. Or guys he
thinks will be playmakers, like Jabar
Gaffney, who has two consecutive
100-yard games in the playoffs after
having just one in the past six seasons
with Houston. Gaffney’s 18 receptions
in the playoffs are seven more than he
had in the regular season after being
signed off the street.

Most of all, Belichick loves role
players. And role players often win
him games.

“If you put them in one particular
spot, you might have a guy that’s bet-
ter at that one thing than they are,” he
said. “But when you look at the play-
er’s versatility, his intelligence, his
physical skills, his ability to under-
stand concepts and adapt to different
situations, that he just has so much
value on a broad base, that that’s
really more valuable to your team

° TURN TO GOLDBERG

WOMEN’S COLLEGE BASKETBALL | NO. 2 NORTH CAROLINA 82, NO. 6 CONNECTICUT 76

Tar Heels rer

BY JOEDY McCREARY
Associated Press

CHAPEL HILL, N.C. — ‘Ivory
Latta’s 3-pointer with 1:02 remain-
ing gave North Carolina the lead
for good, and the second-ranked
Tar Heels remained undefeated by
beating No. 6 Connecticut 82-76 on
Monday night.

LaToya Pringle scored 18 points
and Erlana Larkins added 15 points
and 16 rebounds for the Tar Heels
(20-0), who blew a 15-point lead
and overcame 26 turnovers to
remain one of two teams with per-
fect records.

Kalana Greene had tied it at 76
with 2:12 to play, and Latta threw
‘the ball away on North Carolina’s
next possession. But she soon
made up for it by taking a pass at
the top of the key and hitting a
clutch 3 to put North Carolina
ahead to stay. She added two free
throws in the final minute to seal



the victory.

Greene had 23 points to lead the
Huskies (14-2), who lost their third
straight in the series, —

Latta finished with 14 points
while Camille Little added 13 for
the Tar Heels, who kept pace with
their archrival — No. 1 Duke — as
the lone remaining unbeatens.

UConn had used a furious rally
to erase a 15-point deficit. The Hus-
kies outscored North Carolina 17-4
over a 6-minute span, pulling to
64-62 on Tina Charles’ layup with
7 minutes left. They took their first
lead 2 minutes later when Renee
Montgomery’s short jumper made
it 70-68 with 4:52 to play.

North: Carolina took its big sec-
ond-half lead when back-to-back
3-pointers by Rashanda McCants
and Latta and a short jumper by
Camille Little made it 60-45 with 13
minutes to play.

Two years ago, the Tar Heels

rain undefeate

went to Hartford, Conn., and

handed Geno Auriemma the worst
home loss of his career, a 77-54
rout that left the veteran coach
speechless.

His resilient Huskies wouldn’t
let North Carolina do it again.
UConn survived a miserable first-
half stretch in which it made 3 of 19
shots and fell behind by 11.

It was the second straight rough
game for Montgomery against a
high-profile foe. Eleven days after
Tennessee held her to four points,

Montgomery finished with six on |

3-of-15 shooting against the Tar
Heels.
e MORE COLLEGES

MONDAY DRIVER: UNC’s
lvory Latta, right, drives to
the basket over UConn’s
Brittany Hunter on
Monday .in Chapel Hill, N.C.







SARADAVIS/AP

‘That coach was ‘Marty hotten=_ oS

PRO BASKETBALL | WASHINGTON 114, UTAH 111



renas bal



PABLE MARTINEZ MONSIVAIS/AP

TAKING THE 3: The Wizards’ Gilbert Arenas, left, shoots a 3-pointer over the Jazz’s
Derek Fisher, center, and Mehmet Okur in the closing minutes of the fourth quarter
on Monday in Washington. Arenas hit three 3-pointers in the final minutes and scored
a game-high 51 points as Washington won 114-111.



TENNIS | AUSTRALIAN OPEN

4



Wizards’ guard
scores 51 points

Associated Press

WASHINGTON — Gilbert Arenas had 51
points, including a 3-pointer as the final horn
sounded, and the Washington Wizards snapped
a two-game losing streak with a 114-11] victory
over the Utah Jazz on Monday.

In the final 2:09, Arenas hit three 3-pointers
and three free throws to eclipse the 50-point
mark for the third time in his career, all this sea-
son. He shot 14-for-29 from the field and 16-
for-17 at the free-throw line. He also had five
assists and committed only one turnover in 41
minutes.

It was the seventh time this season Arenas
scored 40 or more points and the most points
he’s ever tallied at the Verizon Center.

Carlos Boozer’s putback of Derek Fisher’s
3-point airball tied the score at 111 with ll sec-
onds left.

Arenas took the ensuing inbounds pass and
ran the clock down until he launched the game-
winner over Deron Williams.

Caron Butler had 21 points and seven
rebounds for the Wizards, who won their eighth
straight at home and improved to 15-3 at the
Verizon Center. Brendan Haywood added his
fifth double-double of the season with 10 points
and 10 rebounds.

Mehmet Okur led Utah with a career-high 38
points and nine rebounds. Carlos Boozer added
27 points and 13 rebounds, giving him five dou-
ble-doubles in the past six games. Deron Wil-
liams added 12 points and 13 assists for his 10th
double-double of the season.

After Arenas’ 3-pointer tied the score at 1:06
with 1:40 left, Okur’s 3-pointer gave Utah a
109-106 lead. Arenas responded with three free
throws to tie the score with 1:09 remaining.

Jarvis Hayes’ follow shot gave Washington at
111-109 lead with 24 seconds left, but Boozer’s
follow tied it at 1, setting the stage for Arenas.

Antawn Jamison’s 3-pointer capped an 11-0
run that pulled the Wizards to 60-59 with 8:22
remaining in the third quarter.

The Jazz, who led by 16 points in the first half,
outscored the Wizards 30-18 in the paint during
the first half and led 58-48 at halftime.

@ MORE NBA

Bumpy start, vintage finish for Federer

BY JOHN PYE
Associated Press

MELBOURNE, Australia — Roger Federer
dropped serve three times and shanked a cou-
ple of forehands. He was slashing around the
court like the rookie he was when he last lost to
Bjorn Phau.

Then everything clicked.

Federer went on a nine-game winning streak
— yielding only six points in the second set —
and won 7-5, 6-0, 6-4 to begin his Australian
Open title defense.

The top-ranked Swiss opened his quest for a

10th Grand Slam crown against an opponent.

who until Monday could boast of a winning
record against the almost untouchable Federer.

The first set had more ups and downs than
unusual, giving Federer the jitters. It also rekin-

dled memories of years when he was far from
the game’s pre-eminent player.

“I came up on tour and J got many, many
wild cards, especially after finishing the junior
year in ’98 as No.1,” he said. “So I was thrown in
with the big boys very early.

“Yhat was a great experience for me, but I
wasn’t the player like maybe Roddick, Hewitt
and Safin and Nadal who came out, and just
right ‘away consistently won matches. I had a
real drought of six months where I was really
struggling to win matches.”

Like that time in 1999 when he lost 6-2, 6-3 to
Phau, a proficient baseline player from Ger-
many lacking any big weapons.

“That match was really hot I remember. ... I

* TURN TO OPEN



GREG WOOD/AFP/GETTY IMAGES
WATCHING RETURN: Roger Federer hits a
return against Bjorn Phau in their
first-rcund match at the Australian Open.





NFC PLAYOFFS | ANALYSIS.

Grossman: Bart Starr or Bart Simpson

BY JIM LITKE
Associated Press

CHICAGO — After almost
500 throws during the regular
season, half that many in prac-
tice each and every week, and
three dozen more against the
Seahawks late Sunday after-
noon Bears quarterback Rex
Grossman finally let one fly
that kept a city from tossing
him into the lake.

This week, anyway.

For the record, it was a 30-
yard completion to Rashied
Davis, who split the seam on
the right side of Seattle’s zone
defense on a third-and-10 play
in overtime and carried the
ball to the Seahawks’ 36.

“A lot of guys,” Chicago
center Olin Kreutz said,
“wouldn’t throw that pass.”

True.

So just for good measure,
Grossman tempted fate once
more before laying the game _
on the foot of kicker Robbie
Gould.

After handing off twice to
Cedric Benson for 4 yards,
Grossman went back to pass
and was flushed from the

pocket. He took off to his right,

running for his life on one of
those Poe adventures

NFL NOTES

that all too often have been
preludes to disaster.

This time, though, instead
of trying to do too much,
Grossman simply threw it so
far out of bounds that the ven-
dors in the stands were more
likely to fight over it than any-
body wearing a uniform. He
then wisely ran off the field
with his head down, nat
looking up until it was time to
track Gould’s game-winning
kick from 49 yards.

“The most important thing

is we won,” Grossman said. “I .

don’t care how we do it, I
really don’t.”

Neither does the town that
would like to adopt him but
can’t get too cozy with a quar-
terback who plays like Bart
Starr one week and Bart Simp-
son the next.

Chicago had enough of that
with Jim McMahon. The
punky QB never dealt well
with authority — he often lik-
ened coach Mike Ditka to
“Sybil.”

But compared to “Good
Rex-Bad Rex,” McMahon was
a model of consistency,on the
field, anyway.

Grossman threw 23 touch-
downs in the regular season,

Grimm front-runner
to be Steelers’ coach

Associated Press”

The Pittsburgh Steelers’
diligence in finding Bill
Cowher’s successor cost
them offensive coordinator
Ken Whisenhunt, a move
that leaves offensive line
coach Russ Grimm as the
clear front-runner. It also
could mean the Steelers will
have their new coach in

place by the end of the week.

Whisenhunt, one of the
NEL’s top offensive coaches,
took the Arizona Cardinals’
job Sunday rather than wait-
ing to see if he would be pro-
moted by Pittsburgh. He will
be officially introduced by
the Cardinals at a news con-
ference today.

While Whisenhunt was
widely considered around
the NFL to be Cowher’s heir
apparent, the Steelers gave
no such indication after
Cowher resigned Jan. 5. Also,
they apparently didn’t make
a counteroffer to persuade
Whisenhunt to stay.

Grimm also interviewed
with the Cardinals, but
unlike Whisenhunt, didn’t
get a second interview. Both
met with the Miami Dol-
phins, who spoke for a sec-
ond time during the weekend
with Georgia Tech coach
Chan Gailey, but have yet to
hire a coach.

Gailey also talked Satur-
day with the Steelers, who
previously interviewed
defensive coordinators Mike
Tomlin of the Vikings and -
Ron Rivera of the Bears.

_ The Steelers also received

permission to meet with
Houston Texans assistant
head coach Mike Sherman,
the other finalist in Arizona,
but no interview has been
scheduled.

Hiring. Grimm, however,
would provide the Steelers
continuity from one coach-

_ COUNTDOWN 1 To SUPER BOWL } XLI

SUPER BOWL XXII

WASHINGTON 42, DENVER 10

e Jan. 31, 1988

e Jack Murphy Stadium, San Diego
e MVP: GB Doug Williams, Washington

Being the first black quarterback in the Super
Bowl led to incessant questioning and much
fanfare, but then Doug Williams let his arm do
the talking with a 35-point explosion in the

ing regime to another and
would allow them to keep
most of their assistant
coaches. All are under con-
tract for next season, but a
coach hired from outside the
organization would most
likely want to choose his ©
own staff.

-Whisenhunt may take
quarterbacks coach Mark
Whipple with him as offen-
sive coordinator, meaning
the two coaches who have
closely worked with quarter-
back Ben Roethlisberger
the last three seasons would
be gone.

PACKERS

Green Bay promoted Joe
Philbin to replace Jeff
Jagodzinski as the team’s
offensive coordinator Mon-
day.

Philbin is in his fifth sea-
son with the Packers. He pre-
viously served as Green
Bay’s assistant offensive line
coach and tight ends/assis-
tant offensive line coach.

Jagodzinski was hired as
head coach at Boston College
last month.

Winston Moss was also
promoted to assistant head
coach/defense, James Cam-
pen to offensive line coach
and Jerry Fontenot to assis-
tant offensive line coach.

Moss, previously the
Packers’ linebackers coach,
also worked with coach Mike
McCarthy for five seasons
with the New Orleans Saints.

PANTHERS

Carolina fired offensive
coordinator Dan Henning
and two other assistants
Monday, two weeks after fin-
ishing a disappointing 8-8
season.

Offensive line coach Mike
Maser and secondary coach
Rod Perry were also let go.





second quarter that helped lead the Redskins to

a rout of the Broncos.

But his performance was almost as memorable as the days
before the game, when one story dominated: Williams’ skin

color,

Whena reporter addressed Williams as “Black Doug,” he
politely responded, “[Coach] Joe Gibbs and [general manager]
Bobby Beathard didn’t bring me in to be the first black

The wild, weird,
wacky and
wondrous of past |
Super Bowls

Pld i)



-has

PRO FOOTBALL





JONATHAN DANIEL/GETTY IMAGES

THE BOMBER: Chicago’s Rex Grossman throws a 68 yard
TD pass to Bernard Berrian against Seattle during their
NFC Divisional Playoff game on Sunday in Chicago.

offset by 20 interceptions.
He’s been the league’s highest-
rated quarterback a handful of
times and its lowest-rated
almost as often. No wonder
every week became a referen-
dum on whether to bench
Grossman in favor of backup
Brian Griese. With the Bears’
bye giving fans two weeks to
rage, the latest debate was the
loudest.

AFC PLAYOFFS



After Sunday’s 27-24 vic-
tory, Grossman was asked:
“How long have the last two
weeks been?”

Thankful for an easy ques-
tion, Grossman smirked.

“Fourteen days,” he said.

Without prompting, he
added, “I think you give your-
selves too much credit how
(the criticism) affects me. It
affects my family more than it

MICHAEL CONROY/AP

CHANGING ‘D’: Colts coach Tony Dungy says he sees a
change in the way his team is playing defense.

Patriots will see
new Colts defense

BY CLIFF BRUNT

Associated Press
INDIANAPOLIS — The

Indianapolis Colts’ defense

was bashed by opponents and

‘ critics for most of the regular

season.

It suddenly figured out how
to counterpunch in the play-
offs.

By keeping opposing
offenses out of the end zone
and off the field, the once-ma-
ligned defense has taken Indi-
anapolis right into Sunday’s
AFC championship game
against New England.

“We're playing better,”
coach Tony Dungy said.
“We're tackling a little bit bet-
ter. We’ve always had a pretty
good rush in the long-yardage
situations, but in the third-
and-S, third-and-6, we’ve tack-
led the underneath throws a
little bit better.”

The dramatic turnaround
surprised everyone,
except perhaps the Colts.

Dungy insisted all season
that Indy’s biggest problems
were fixable. Many thought it
was impossible after the Colts
(14-4) surrendered a league-
high 173 yards rushing per
game, even giving up a hefty
375 yards to Jacksonville in



#8



Redskins.”

faced:

ae




December.

The Colts blew what many
considered their best Super
Bowl chance last season witha
shocking home loss to Pitts-
burgh. This season, they stum-
bled into the playoffs with
four losses in six weeks, and
conventional wisdom sug-
gested the Colts would make
another quick postseason exit.

Instead, a defense long con-
sidered the biggest impedi-
ment to a Super Bowl run, has
played more like the ’85 Chi-
cago Bears than the ’06 Colts
for two straight weeks.

“T think we’re playing con-
sistently well for 60 minutes,
and we’re playing with an
intensity that’s been
unmatched,” former Pro Bowl
linebacker Cato June said.

Kansas City managed 126
total yards in a 23-8 wild-card
loss and Larry Johnson carried
only 13 times for 32 yards.

At Baltimore on Saturday,
the Colts were more impres-
sive. While the Ravens pro-
duced 244 yards in offense,
they rushed for only 83 and
Indy beat the NFL’s top-
ranked defense at its own
game in a 15-6 victory — keep-
ing the Ravens out of the end

zone,

quarterback in the Super Bowl. They brought
me in to be the quarterback of the Washington

A sampling of the questions Williams, 32,

@ “Doug, would it be easier if you were the
second black quarterback to play in the Super

“Doug, are you upset about all the
Sieaiene about your being the first black
quarterback in the Super Bowl?”

e@ “How long have you been a black
quarterback?”

The last question elicited an exchange with
Williams, an account of which appeared in The Los Angeles
Times: “Incredulity spread over Doug Williams’ face. He sighed.
‘Well, first of all,’ he said, ‘I’ve been black all my life. Secondly, I’ve
never been a white quarterback. But | don’t think I'd be any
different if | were. | don’t think the football cares.’ "

- SARAH ROTHSCHILD







affects me.”

His teammates, taking their
cue from stubborn Bears
coach Lovie Smith, have bailed
Grossman out a few times and
supported him after every one.
But you had to wonder how
long that would have lasted
Sunday had Grossman’ first
pass not bounced off the hands
of Seahawks cornerback Jor-
dan Babineaux on the second
play of the game and into the
waiting arms of Bears wideout
Bernard Berrien.

“When the ball bounces
your way,” Berrien said,
“sometimes that’s because it’s
meant to be.”

Other times, it meant abso-
lutely nothing.

Grossman has had great
throws tipped into the wrong
hands for interceptions and
poor throws, like the one Babi-
neaux could have stolen and
sent the Bears into an early
funk, work out wonderfully.
One reason his teammates
consistently cover his back is
Grossman behaves the same
either way.

He doesn’t point fingers,
and so far, they’ve returned
the favor. It makes no differ-

ence whether the town and the

* GOLDBERG

even than a guy who’s better
at one.

Enter Brown, who’s been
with the Patriots for 14 sea-
sons as a wide receiver, kick
returner and occasional
defensive back.

He made the play of the
game Sunday, knocking the
ball loose from San Diego’s
Marlon McCree after
McCree intercepted a pass
by Tom Brady with just over
six minutes left and the
Chargers leading 21-13. .

The Patriots went on to
score and tie the game ona
2-point conversion run ona

direct snap to Faulk — never

a star, but a valuable con-

tributor as a runner, receiver

and return man in his eight
seasons with New England.

* Brady, who was inter-
cepted three times, then
came through as usual in the
clutch, driving the Patriots
from their own 15 to the San
Diego 13 to set up Gostkows-
ki’s winning field goal. The
big play: a 49-yard pass to
Reche Caldwell, who had 66

receptions in four years with

the Chargers, but hada
team-leading 61 for the
Patriots this season after
signing as a free agent.
That’s the kind of game
that gets into the heads of
opponents — the “Uh-oh.
Here come the Patriots,”
mind-set that dooms some
opponents before they even
step on the field.
/ That’s not likely to hap-
| pen to Indianapolis,
| although it was beaten by
| New England in the 2004
| AFC championship game .
| and again the next season in
the second round.
For one thing, the Colts,
whose defense has been
| reborn in these playoffs, also
| seem to have learned how to
| win ugly, as evidenced by
their 15-6 victory in Balti-





____MiamiHerald.com_| THE MIAMI HERALD

newspapers lionize him, as
they did early in the season, or
call for his head, as they often
did at the end.

“They love to hate him, I’ll
tell you that much,” Bears line-
backer Brian Urlacher said.
“The media is all over him.

“But us as a team, and our
head coach? He’s our guy. We
believe in him. He comes
through for us,” Urlacher
added, “when he has to.”

Grossman must do it again
next week when the Saints
come to town — with a much
stronger offense and a healthy
secondary to boot. The Sea-
hawks were so devastated by
injuries to their defensive
backs that they played Pete
Hunter, who was working in a
Dallas-area mortgage office
until recently, at one spot and
left overmatched rookie Kelly
Jennings out there in another. ©
Grossman knows the pickings
won't be that easy against
New Orleans.

“We're in the NFC champi-
onship, and we win one game,
we're in the Super Bowl,”
Grossman said. “Two wins
away,” he said, “from having a
ring on my finger for the rest
of my life.”

FROM THE SPORTS FRONT

‘Never dismiss Patriots



DENIS POROY/AP

PATRIOTS PASSER: New
England QB Tom Brady
fires a pass against the
Chargers.on Sunday.

more. All of the Colts’ scor-
ing came on five field goals
by Vinatieri, who signed
with Indianapolis as a free
agent and is sure to be one of
the much-hyped subplots to
this title game.

And Peyton Manning,
who struggled against the
Patriots in those two post-_
season losses, has played
well against them in regular-
season victories the last two
years.

In fact, Indianapolis may
even be glad it’s playing
New England instead of San
Diego, which manhandled
them last season and would
have been the home team if
it had won. The home-field
advantage has led the odds-
makers to make the Colts
3-point favorites for Sun-
day’s game.

No, Vinatieri probably
won’t miss a potential tying
field goal by 30 yards, as
Mike Vanderjagt did last
season for the Colts in the
playoffs against Pittsburgh.

But somewhere in the
collective psyche of the
Colts, there has to be this
thought:

“Uh-oh. Here come the
Patriots.”

6 P.M. EST SUNDAY; FEB. 4, 2007
DOLPHIN STADIUM ® ON TV: CBS

GETTY IMAGES FILE PHOTO





THE MIAMIHERALD | MiamiHerald.com



BASKETBALL | WOMEN’S POLL
Duke returns to
the No. 1 ranking

BY CHUCK SCHOFFNER
For The Associated Press

Duke found its way back to
No. 1 in the AP women’s bas-
ketball poll, despite losing four
key players from last season,

The Blue Devils jumped
over North Carolina to replace
Maryland at the top of the poll
Monday, two days after beat-
ing the Terrapins 81-62 with
an impressive display of bal-
ance and defense. North Caro-
lina remained second and
Maryland, which had been No.
1 all season, slipped to third,

There also were changes at
the bottom, with Mississippi
and Kansas State joining at
24th and 25th. Arkansas and
DePaul dropped out.

Duke began the season with

some questions after losing
second-team All-American
Monique Currie and two oth-
ers to the WNBA draft. The

Blue Devils were No, 1 for five.

weeks last season and lost to
Maryland in overtime in the
national championship game.

The Blue Devils also are.

without 6-foot-5 junior Chante
Black, who has yet to play this
season because of a hyperex-
tended right knee,

So to be 18-0 and ranked
No.1 — yes, coach Gail Goes-
tenkors is surprised,

“We knew our players had
to adjust to new roles,” Goes-
tenkors said, “Our role players
had to become go-to players.
I’m impressed how quickly

they've adjusted to their new.

roles and embraced their new
roles.”

They’ve adjusted so well
that Duke has defeated six
Top 25 teams. The closest
game in that bunch was a nine-
point win over Bowling Green,
now ranked 18th,

“I was worried a little early
on with our nonconference
schedule; knowing it was'diffi-
cult-and then how tough the
ACE was going to be,” Goes-
tenkors said, “We knew we
were young and searching for
a new identity and thought we
might hit some bumps along
the way. This team has really

responded to every challenge .
- Blue Demons have lost three

it faced.”

The Blue Devils certainly
have responded on the defen-
sive end. They're giving up
just 46.8 points a game and
holding opponents to 30 per-
cent shooting, Maryland is the
only team that has scored
more than 54 points on Duke,

Guard Lindsey Harding, the
ACC defensive player of the
year last season, sets the tone
with her quickness, Harding
and the other perimeter play-
ers can gamble because they
have 6-7 Alison Bales lurking
near the basket, Bales already
has blocked 87 shots,

“Tt probably took a year for
our guards to understand that
they can get out and pressure
a little more because Allie has
their back,” Goestenkors said,
“This year we've become a lot
more comfortable getting out
and pressuring people and
changing defenses,”

Duke received 37 of 50 first-

FOOTBALL NOTES

Ginn leads
draft list

Assoclated Press

Ted Ginn Jr. and Adrian
Peterson: both sprinted to
touchdowns the last time they
touched the ball in college.
Next up, they hope to score
big in the NFL,

Ginn, Ohio State’s game-
breaking receiver and return
man, and Peterson, Oklaho-
ma’s fleet running back, will
pass up their senior seasons to
enter the NFL draft. Monday
was the deadline for under-
classmen to declare their
intentions,

A week after his team lost
to Florida 41-14 in the national
championship game, Ohio
State tailback Antonio Pitt-
man also said he was leaving
early for the NFL,

Record-breaking Hawaii
quarterback Colt Brennan
declared himself eligible for
the draft, too, but left himself
the option of returning to the

place votes from a national
media panel and had 1,235
points — 23 more than North
Carolina, North Carolina
(19-0), which went into a game
against Connecticut Monday
night as the only other
unbeaten team in Division I,
had the remaining 13 first-
place votes,

Maryland (18-1) had 1,128

points, just six more than No.
4 Tennessee (16-1), which
hosts Duke next Monday.
Ohio State was fifth, followed
by Connecticut, Oklahoma,
LSU, Stanford and Arizona
State,
LSU dropped three spots
after splitting two games, los-
ing to Mississippi and beating
Mississippi State. Ohio State,
UConn and Oklahoma each
advanced one spot,

George Washington
climbed one place to llth and
Purdue went from 13th to 12th,
Then it was Baylor, Vanderbilt
and Louisville, followed by
Georgia, Texas A&M, Bowling
Green, Marquette and Middle
Tennessee,

Baylor had the biggest drop
within the poll, falling from
ninth to 13th after losing to
Oklahoma and Texas A&M.

California, Texas, Michigan
State, Mississippi and Kansas
State held the final five places.

Mississippi (15-4) made the
Top 25 for just the second time

_ since March of 1996, The Reb-

els were ranked once last sea-
son, getting in at No. 24 on
Dec, 19, 2005,

Ole Miss, which beat Van-
derbilt four days before
knocking off LSU, has won six
straight and eight of its last
nine,

Kansas State (14-2)
received its first national rank-
ing since it was 16th in the
final poll of the 2004-05 sea-
son. That was the last of 67
straight appearances in the
Top 25 for the Wildcats, who
have won Jl of their last 12,
Their only loss in that stretch
was to Oklahoma.

DePaul (11-6), which was
24th last week, has seen its
roster thinned by injuries. The

straight and five of six, Arkan-
sas (16-3), which had been
25th, beat Auburn in its only
game last week but lost to
Vanderbilt and Mississippi
State in previous games.

The No. ] ranking was the
26th for Duke, which was
bumped from the top spot
twice last season. The Blue
Devils led the first three polls
before being replaced by Ten-
nessee, even though they
didn’t lose until late January.
Duke returned to No, 1 on Feb,
13, but dropped to second two
weeks later after losing at
North Carolina,

“I’m proud for the players.
They've been working so hard
over the course of the season
to gain respect,” Goestenkors
said, “But it’s become pain-
fully clear to us that rankings
and such really don’t matter,

We probably understand that

better than most teams,”



MARK TERRILL/AP
BIG SCORING THREAT: Ohio
_ State's Ted Ginn Jr. scores
on a kickoff return in this
year’s BCS championship.

Warriors.

Louisville quarterback
Brian Brohm, however, said
he was staying in school,

Louisville coach Bobby
Petrino resigned Jan, 7 to
become coach of the Atlanta
Falcons, and star running back
Michael Bush is entering the
draft after missing most of the
season with a broken right leg.

Also, Charleston Southern
receiver Maurice Price will
skip his senior season and
enter the draft.







COLLEGES

BASKETBALL | MEN’S



j
|
COLLISION COURSE: Marquette’s Jerel McNeal goes to |
the basket against Louisville’s Juan Palacios during
Monday’s game. McNeal scored 15 in the victory.

No. 24 Marquette _
fights off Louisville

From Miami Herald Wire Services

LOUISVILLE, Ky. ~~
Dominic James scored 18
points, including 0 during a
decisive second-half run, to
lead No. 24 Marquette to a
74-65 victory over Louis-
ville on Monday night,

The Golden Eagles (16-4,
3-2 Big East) returned to the
Top 25 earlier in the day,
and celebrated by halting
Louisville’s modest two-
game winning streak with
their second consecutive
road victory and third over-
all, :

Ousmane Barro had 14
points and 11 rebounds,
Wesley Matthews added 17
points and Jerel McNeal
scored 15 as the Golden
Eagles fought through a
sluggish first half and
pulled away Jate behind
James.

James was 4-of-7 frorm
3-point range, hitting three
during a 13-4 run midway
through the second half, He
raised his arms after the last
one gave Marquette a 60-46
lead.

David Padgett bad 18
points and nine rebounds
for Louisville (12-6, 2-2),
which shot 42 percent from
the field in losing its 12th
consecutive game against a
ranked opponent.

Marquette won at Con-
necticut last Wednesday
and beat West Virginia at

- home on Saturday,
y

Both thase teams were
ranked when the Golden
Eagles beat them.

Louisville had used a
smaller lineup to win con-
secutive Big East g games for
the first time since joining
the conference last season,

FOOTBALL | HULL:



TOP a5

ANDY LYONS/GETTY IMAGES



i
but the Golden Eagles |
adjusted after a slow start |
and raced by the Cardinals
in the second half.

Marquette trailed 28-22 |
with about 5 minutes left in
the first half, but put
together a 25-4 run over the
next 9 minutes, eventually
building a 47-32 lead,

Louisville reeled off 10
consecutive points to get
back within five, but then
James went to work,

All three of his 3-point-
ers were from well beyond |
the line and he later addeda
running layup that helped
the Golden Eagles hold off |
one final Louisville surge. |

The Cardinals finished |
4-of-18 on 3-pointers and
couldn’t find much offense |
except for Padgett.

Jerry Smith scored
points and Terrence Wil- |
liams added 10 for Louis: |
ville, but the Cardinals |
couldn't take advantage ofa
handful of late Marquette |
turnovers,

KANSAS SURVIVES |

LAWRENCE, Kan. —
Freshman Sherron Collins
scored seven of his career-
high 23 points in the final
2:15 of the game and fifth-
ranked Kansas held off Mis-
souri 80-77,

Brandon Rush added 16
points and Julian Wright |
had 10 rebounds for Kansas |
(16-2, 3-0 Big 12), which
won its 10th consecutive
game and extended the
Tigers’ losing streak to
four, |

The Tigers (11-6, 0-4) |
have not won in Lawrence
since a 73-61 victory on Jan,
24, 1999,

& BOWL,

INTERNATIONAL EDITION _

_ TUESDAY, JANUARY 16, 2007 | 7E



BASKETBALL | MEN’S POLL

Florida back
in top spot

BY JIM O'CONNELL
Associated Press
- Florida is back at No. 1 in
The Associated Press’ college
basketball poll for the second
time this season, Virginia
Tech is in the Top 25 for the
first time in more than a dec-
ade,

The Gators regained the
top basketball ranking a week

after Florida’s football team -

won the national champion-
‘ship with a 41-14 rout of Ohio
State, !

Florida, the defending
national basketball champs,
moved up from second on
Monday, following North Car-
olina’s loss to Virginia Tech
over the weekend, The Gators
were on top of the preseason
rankings and the first poll of
the regular season before fall-
ing as low as seventh six
weeks ago.

“This time of year in col-
lege basketball, the Noa, 1 is
going to rotate like the yellow
jersey in bike riding with
teams handing it off,” Florida
coach Billy Donovan said
Monday, “We’re proud that
over the last four, five years
we have had a chance to get to
No, 1 on different occasions,
but it doesn’t mean a lot right
now.

“It’s a great honor, but right
now it’s not what you do as
much as what happens to
other teams. We wouldn't
have had the chance to move
up if North Carolina hadn't
lost.”

Wisconsin and UCLA both
moved up one place to second
and third, while North Caro-
lina dropped three spots after
holding the No. 1 ranking for
one week. All four teams
received first-place votes from
the 72-member national media
panel,

Virginia’ Tech's
appearance in the rankings
since the final poll of the
1995-96 season came on the
heels of wins over then-No, 5
Duke and North Carolina, The
Hokies (13-4), winners of four
straight and nine of 10, came in
at No. 23.

“Obviously it was a good
week, that’s probably an
understatement,” Virginia
Tech coach Seth Greenberg
said Monday. “It was last week
and now we're in this week,
I've been in this long enough
to understand that if you live
in the past and not the present,
it will suffocate you, The
unpredictability of college
basketball is evident each and
every weekend.”

Florida (16-2) received 43
No. 1] votes and had 1,761
points, Wisconsin (17-1), had 21

_ first-place votes and 1,722

points to reach its highest
ranking in school history,
UCLA (15-1), which held the
No. 1 ranking for six weeks
before turning it over to North
Carolina, had seven No, 1

‘votes, while the Tar Heels

(15-2) had the other first-place
vote,

‘first |

‘Kansas and Pittsburgh both
moved up one spot to fifth'and:
sixth, while Ohio State, which
lost at Wisconsin on Tuesday,
dropped two spots to seventh,
Texas A&M held at eighth,
Oregon, which won at Arizona
on Sunday for its second win
in eight days over a Top 10
team (UCLA), jumped from
15th to No, 9, Alabama, which
beat LSU in its only game last
week, moved from l4th to
round out the Top 10,

Arizona dropped one place
to llth and was followed by
Oklahoma State, Air Force,
Duke, Nevada, LSU, Memphis,
Butler, Clemson and Notre
Dame.

Clemson (17-1) was the last
unbeaten team in Division I
before losing 92-87 at Mary-
land on Saturday,

Texas and Tennessee were

Zlst and 22nd, and were fol-.

lowed by the week’s three

newcomers, Virginia Tech,

Marquette and Kentucky,
This isn’t Greenberg's first
appearance in the Top 25, His
Long Beach State team moved
in at No. 25 on Jan, 18, 1993, and
were out one week later after a
loss to Cal-Santa Barbara.
“Oh, I remember that,” said
Greenberg, who is in his
fourth season at Virginia Tech.
“It does mean something to be



in the rankings but if you're ,;,

out the next week it doesn’t
really mean anything, Unfe

tunately in college baskef@
today only one thing mam
something and that is tha§
of 65 in March.” :

Greenberg took Long Be ach

State to the NCAA tourna-
ment in 1993 and 1995, The
Hokies haven’t been in the
tournament since 1996,

“The message is very sim-
ple,” he said, “Obviously what

" we've been able to do over the

last two weekends is terrific
but it has nothing to do with
the next several weekends.”

The three teams that fell
out of the rankings were West
Virginia, which lost to Notre
Dame and Marquette; Wash-
ington State, which moved in
for the first time since 1983 but
lost to Stanford; and Connecti-
cut, which had lost three of
four before beating St. John’s
on Saturday. —

Connecticut (13-3) had the |

second-longest active consec-
utive streak of 67 polls, dating

to the final voting of the-.
2002-03 season. Duke has the.

longest streak, 196 polls, a run
that started with the preseason
poll of 1996-97, UCLA and
Memphis now share the sec-
ond-longest current streak at
30 polls,

UCLA holds the all-time
record for consecutive polls,
221, a streak that went from
1966 to 1980,

There are five games

involving two ranked teams
this week: Texas at Oklahoma
State; North Carolina at Clem-
son; Oklahoma State at Texas
A&M; Arizona at UCLA; and

Marquette at Pittsburgh.

Zabransky on other side of big bowl comeback

BY JAYMES SONG
Associated Press

HONOLULU Boise
State quarterback Jared
Zabransky found himself on
the other side of an improba-
ble comeback,

The Aina scored 15 points
in the final minute of the
game to beat Zabransky’s Kai
team 18-10 in the Hula Bowl
on Sunday night. It was the
first taste of losing for
Zabransky all year.

“You want to win. You
don’t ever play this game to
lose,” he said

Clemson’s Reggie Merri-
weather scored on a l-yard
run with 44 seconds left, and
Tigers teammate Will Proctor
completed a 2-point conver-
sion pass to Tennessee's Bret
Smith to give the Aina an 1-10
lead.

Alabama cornerback

Ramzee Robinson then inter-

cepted Zabransky’s pass and
returned it 44 yards for a
touchdown with 10 seconds



left, giving the Aina team 15
points in 34 seconds.

The Kai, which had a 10-3
lead heading into the final
minute, had one final shot,
but Zabransky couldn't repeat
his Fiesta Bow! magic, with
his desperation pass falling
short,

RONEN ZILBERMAN/AP
BOWL RUN: Bret Smith of Tennessee on the Aina team,
left, runs for yardage against the Kai team and David
Lofton of Stanford on Sunday night.

It was a thrilling finish to a
game that was a defensive
struggle.

With no overtime allowed,
the Aina had to go for 2. The
play was drawn up on the
ground and didn’t work go
exactly as planned, Kai coach
Rich Rodriguez, of West Vir-

ginia, said.

“J just. threw it up at the
back of the end zone and he
made a spectacular catch,”
Proctor said,

With the game in hand and
the Kai trying to run out the
clock, Wisconsin QB John
Stocco fumbled, giving Aina
the ball on the Kai 39 with less
than 3 minutes to play,

Proctor then completed a
20-yard pass on third-and-ll

_to Smith to set up the Aina’s

first touchdown.

Proctor finished 9-of-15 for
107 yards and earned MVP
honors for the Aina while
Elon linebacker Chad Nkang,

- who had nine tackles, was

named MVP for the Kai,
Zabransky was 7-of-12 for 67
yards with.a touchdown and
the late interception.

On the opening series,
Zabransky threw a swing pass

to Hawali’s 250-pound rup- :

ning back, Nate Ilaoa, w.

rumbled 16 yards down “he i

left sideline to score.

SS SSS Sit ES SESS SSS SSS TS SSS SS SSUES







PAGE 8E, TUESDAY, JANUARY 16, 2007

TRIBUNE SPORTS.



| BS

Federer,
Roddick

overcome
first-round —
jitters

TENNIS
MELBOURNE, Australia
Associated Press

EVEN Roger Federer gets
jittery in the first round of a
Grand Slam tournament,

The world’s No, | player and
winner of three majors last sea-
son dropped serve three times
in the first set against Ger-
many’s Bjorn Phau before ral-
lying for a 7-5, 6-0, 6-4 victory
Monday to begin defense of his
Australian Open title.

Amelie Mauresmo, who cap-
tured her first Grand Slam title
last year in Melbourne, also had
a nervous start, and Andy Rod-

dick struggled against a wild-

card entry ranked 212th,

Fourth-seeded Ivan Ljubicic
didn’t make it, falling 4-6, 7-6
(2), 6-4, 6-4 to American Mardy
Fish, who has returned to the
top 50 alter plummeting to No,
341 and undergoing two wrist
operations in 2005.

In the day’s last match,.2005
champion Marat Safin beat
Benjamin Becker of Germany
5-7, 7-6 (2), 3-6, 6-3, 6-4, a3 1/2-
hour contest that ended at 12:30
a.m. in the late-night chill,

Safin showed his renowned
temper and smashed his racket
while continuing his comeback
from a left knee injury that
dropped him to a No, 104 rank-
ing.

Becker’s strong serve and
stinging groundstrokes left the
26th-seeded Russian muttering,
Safin slammed his racket to the
ground after missing a forehand
in the second set. Minutes after
a fan shouted “Get angry!” in
the third, Safin broke his racket,
drawing a warning, He was on
his best behavior the rest of the
way.

Federer’s finals opponent last
year, Marcos Baghdatis, also
advanced, backed again by a
vocal crowd from Melbourne’s
large Greek community, Bagh-
datis, seeded 11th, defeated
Rainer Schuettler 6-4, 2-6, 6-3,
6-2.

Federer feared losing the first
set, which helped him regain
focus.

“I got broken in the first set
three times, and that makes you
a little bit nervous,” said Fed-
erer, who went 92-5 with 12

titles last season and is on the.

cusp of breaking Jimmy Con-
nors’ record of 160 consecutive
weeks atop the men’s rankings.
“You try to stay cool, but I got
a little bit nervous.”

“m happy I’m through
because it looked like it was
definitely going to head for a
first-set loss, but I came
through,” he added. “That’s the
most important.”

That was Roddick’s mantra,
too, after Jo-Wilfred Tsonga,
riding a powerful serve in only
his sixth match in a top level
ATP event, took the first set in
a marathon tiebreaker and
served for the second set. Rod-
dick wasted four set points in
the but came through with a 6-
7 (18), 7-6 (2), 6-3, 6-3 victory.

“J thought it was a pretty
ordinary performance,” the
sixth-seeded American said. “I
think I got a little first-round
jitters. These first matches are a
little bit uncomfortable some-
times. But it got better as I went
along.”

The second-seeded Maures-
mo dropped serve early with
three errors against American
Shenay Perry, then righted her-
self and took control to advance
6-3, 6-4.

Serena Williams, seeking her
eighth Grand Slam title but
unseeded after a rash of injuries,
started slowly, but she picked
up her game to oust 27th-seed-
ed Mara Santangelo 6-2, 6-1 in
an error-plagued night match.
Santangelo had only six winners
to 23 unforced errors while
Williams ripped 10 aces in an
otherwise lackluster service
effort.

“I’m feeling pretty good,”
Williams said. “I came out and
finally did what I was supposed
to do, to a certain level. I feel I
have nothing to lose. There is
only one way I can move, and
that’s up.”

}
}
}
}
}













defeat the Shar! Ss

FROM page one

‘are awful on offence, they are to
quick to shoot.

“The other problem we had
before we even started the game was
two of our players couldn't play.

“One of the girls transferred and
they said she can’t play.

“But there is nothing we can do
about that,

“Better to have learned it early in
the season than late.”

The rush shots by the Lions forced
Johnson to call a time-out in the sec-

-ond half.

When the team returned the court,
their plan was to pass the ball around
five times before anyone looked to
shoot.

But the team failed to carry out
Johnson’s plans opting use the same
strategy before the time-out was

terday, to defeat the § ‘McPherson Sharks,

(Photo: Tim Cate

Lions recover to.

Shatyna Stuart picked off the Lions’
pass.

With an open court in the front of
her, Stuart, the Shark’s point guard,
opted for a jump shot instead of
attacking the basket, hoping to draw
the foul. Hitting her in the back was
Lions’ Shashana Smith,

But Stuart’s rough night from the
line continued. Instead of pulling
her team within one by hitting both
free throws, she only made one.

Johnson added: “We’ve got so
much work to do, I mean there is
so many things this team needs to
work. I have to go back to the draw-
ing board to get things going the way
it is supposed to be.

“These girls are good and they
have a pretty good idea of the game
but they rush their shots too much
for me.”

Johnson is hoping to transform

called.

Just when an irate Johnson = son.
screamed across the floor to her
team to slow the ball down, Sharks’






season.

Skipper Ponting is
rested for Australia’s
next tri-series match

@ CRICKET
MELBOURNE, Australia
Associated Press

PERHAPS England will
have better luck against an
Australian team without Ricky
Ponting.

The Australian captain, after
leading the home side to a 5-0

. Ashes sweep and a win over

England in the first tri-series
limited-overs match and a
Twenty20 international, will be
rested on Friday when the
teams meet again in Brisbane.

Australia beat England by
eight wickets in the series
opener last Friday in Mel-
bourne and then beat New
Zealand by 105 runs on Sun-
day,

Ponting, who has been play-
ing continuously since Sept. ah
will return for the Ne
Zealand match in Sydney ee
Sunday.

Brad Hodge will replace
Ponting in the 14-man squad

for the England match and.

Adam Gilchrist will captain. the
side with Mike Hussey as vice-
captain.

“We feel that Ricky Ponting
needs and deserves a break,"
said selectors
Andrew Hilditch, "We think
this is’the right time for him to

chairman,

allow his body to rest ahead of
the ICC Cricket World Cup."

Ben Hilfenhaus will travel to
Brisbane as injury cover for
Brett Lee and Glenn McGrath,
but both Lee and McGrath will
likely play Friday.

. "Brett Lee feels a lot better
tollowing bronchitis and is
expected to be available for
selection for Friday's game,"

- said Australian team physio-

therapist Alex Kountouris.
"Glenn McGrath had minor
groin soreness and will be
reassessed on Wednesday. But
we are hopeful that he'll be
available for Friday."

@ Australian squad: Adam
Gilchrist (captain), Mike
Hussey, Brad Hodge, Matthew
Hayden, Michael Clarke, Stu-
art Clark, Glenn McGrath,
Andrew Symonds, Brett Lee,
Nathan Bracken, Brad Hogg,
Mitchell Johnson, Cameron
White, Ben Hilfenhaus.

@ A SMILING Australian
captain Ricky Ponting, left,
walks past England's captain
Michael Vaughan after he lost
his wicket lbw for 27 runs in
their 20/20 cricket match at the
Sydney Cricket Ground in Syd-
ney, Australia, Tuesday, Jan.
9, 2007.

the team by the middle of the sea-
The Lions will continue on
Wednesday in the GSSSA’s regular

@ BASKETBALL
GSSSA ACTION

The Government Secondary Schools
Sports Association will continue its
regular season action today at 4 p.m.
At the DW Davis Gym, LW Young
will play CC Sweeting (junior girls),
CH Reeves vs HO Nash (junior boys)
and AF Adderley vs SC McPherson
(junior boys), At DW Davis Gym, CR
Walker vs Government High (senior

girls), CR Walker vs Government ”

High (senior boys) and RM Bailey vs
CC Sweeting (senior boys).

@ BAISS

The Bahamas Association of Inde-
pendent Secondary Schools will con-
tinue its regular season action today at
various sites starting at 4 p.m. The
junior boys and senior girls will be in
action,
@ NPWBA

The New Providence Women’s Bas-

o or “4,
S 5.33 ©

BoE





action ona at the DW Davis Gyn. :
with a double header on tap. The. first
game is scheduled to start at 7 p.m,

SOCCER

GSSSA ACTION

The Government Secondary Schools ' :
Sports Association will be back in.
action today at the DW Davis playing:
field, starting at 4 p.m.

DW Davis will play SC McPherson,
(junior girls) and Dame Doris Johnson:
Mystic Marlins will play CV Bethel.
(senior boys). "4

4

SQUASH — “
NEW YEAR SQUASH LEAGUE

The New Year’s Squash League -
will continue with week two tonight
at 7 p.m. at the Village Squash
Club.

Some of the country’s top players
will be participating on six different
teams,











































GUINNESS
UNITS
OR CALL TOLL FREE: IN NASSAU
AND FREEPORT ON 380-8015.

ONLY OPEN TO CONSUMERS ABOVE
THE LEGAL DRINKING AGE.
PLEASE DRINK RESPONSIBLY.





PAGE 2B, TUESDAY, JANUARY 16, 2007

THE TRIBUNE



The financial costs of |

an election campaign

WITHIN weeks, the major politi-
cal parties will be presenting their slate
of candidates for the upcoming gen-
eral election. For months now, there
has been speculation such as: Who
will be dropped? Who will be the new
faces? Who has ‘skeletons in the clos-
et’? This all made for good ‘juicy’ con-
versation in bars, restaurants, the
workplace and other public places.

Leadership

I wish to go on record as saying to
both the PLP and the FNM that while
winning the next election is your
prime objective, the morning after the
election, one party will have the
responsibility of running the country.
Therefore, it is incumbent upon both
- major parties to be vigilant in ensuring
their ‘party machinery’ - in its desire to
win - does not ‘cross the line’ in attack-
ing offices, positions, and institutions
within the country. Individual candi-
dates are fair game...but not their
families.

The economics of politics

I have never understood the ‘eco-
nomics of politics’. Political candidates
always argue that they seek election in
order to serve the Bahamian people.
This is indeed a noble and correct
stance to take, but the reality is that

INSIGHT

_For the stories

Dea Ou

PeeWee
CUM Colaler aes



politics is an extremely expensive
undertaking — not only in monetary,
but also for many, in career terms as
well. Further, it is a known fact that
many individuals suffer significant eco-
nomic losses by offering...then serv-
ing.

The way political campaigns are
conducted has changed profoundly in
the last 20 years. In the old days a
candidate got posters from his party,
financed t-shirts for his campaign vol-
unteers and hit the streets, going door-
to-door. On every walkabout tHe can-
didate had a couple hundred dollars in
small change for those asking for
handouts. At the national level, the
party organised rallies and saw to the
logistics of taking its broader message
from constituency to constituency.

Today, it is a whole new ball game.
I am told that a major political party
requires about $3-4 million to mount
a ‘respectable’ national campaign.
There has been speculation about

olitical parties spending as much as
$10 million on political campaigns. At
the candidate level, I am told that you
could be looking at at least $100,000,
on average, for a local candidate. In
the case of a Nassau-based candidate
in a Family Island district, you can
add another 50 per-cent or more — for
a bare bones campaign.

I do not know what the real num-
bers are, but any intelligent person
who does a cursory calculation of pub-
lic expenditures can conclude that very
large sums are involved.

_Why is the cost so high?

Getting elected today requires the
services of many persons. All the
major parties today hire foreign polit-
ical strategists, but at what costs?

In recent times there have been
American, British and CARICOM
nationals providing strategy, writing
speeches and coordinating compre-
hensive media programmes. After the
strategists, you have the songwriters
and jingle producers; the purchase of

Financial |
Focus

By Larry Gibson -




radio and TV airtime; the publication
of manifestos, pamphlets and
brochures; the production of clothing
lines (in the old days it was a couple of
t-shirts); and, finally, salaries for full-
time staffs. If one were to do a proper
costing of what candidates spend (par-
ty contributions, personal funds, dona-
tions, political contributions, volun-
teer time and fundraising) to get elect-
ed, the results would be mind-bog-
gling.

Are we getting the best

candidates in the mix?

There is no objective way to deter-
mine what is, or who is, a good candi-
date. However, past experience,
involvement and success may be a
starting point. There are many per-
sons who ‘prima facie’, would appear
to make a good candidate...who
choose to shun away from frontline
politics. For instance, during the first

term of the FNM and the current term ©

of the PLP, we had Ministers of State
for Finance. A fair question would
be: why?

Many very competent, technical
professionals are unable or do not
wish to run for political office for per-
sonal reasons, or have concluded that
they do not need the frustrations of
elected office.

Under our system, you can have a
maximum of three cabinet ministers
who are not elected parliamentarians.
Our current senator-ministers are: Dr
Marcus Bethel, James Smith and Dr
Bernard Nottage. All are highly
accomplished professionals in their
respective fields. Therefore, the Sen-

ate, as presently structured, gives a
Prime Minister the opportunity to
strengthen his Cabinet, if needed.

Low voter registration
Recently, I noticed that the Parlia-
mentary Registration Department

(PRD) has significantly stepped up”

their registration drive with media
advertising. For the 2002 elections,
there were some 144,000 registered
voters. For the 2007 elections, offi-
cials were predicting about 170,000
registered voters. Today, about
110,000 persons have registered to
vote. ;

If we assume that there is a maxi-
mum of three months before registra-
tion closes, this means that the PRD
could possibly have to register 20,000
per month or 1,000 persons per work-
ing day.

The bigger question for considera-
tion is: what are these low registra-
tion numbers telling us? I always ask
myself and my colleagues this ques-
tion, as I believe it could give an
insight into the outcome of the coming
general election.

Last week marked the 40th anniver-
sary of majority rule in the Bahamas.
What is interesting to note is, that if
you can personally remember that
occasion, you are probably, at least,
aged somewhere between 45-50 years
old. If you were a participant in the
movement against an unfair and
oppressive system, you are more than
likely aged somewhere between 65-
80 years.

I note these facts simply to suggest
that the current generation of voters is
far less passionate about politics than
our forefathers. The Reverend Gilbert
A. Thompson, in a sermon on the
morning of January 10, 2007, high-
lighted the need for the story of the
struggle of Majority Rule to be taught
not as a PLP story, note as a UBP
story, not as an FNM story, but as a
Bahamian story.

At best, we can say one of the major

n

een:

political parties is slightly left of centre

and the other is slightly right of centre
in terms of fundamental political phi-
losophy. The reality is that there is
very little ideological difference
between the two parties. This situation
is not unique to the Bahamas, as
American voters are splitting hairs to
find major differences between
Democrats and Republicans, while
the British believe that ‘New Labour’
and the Conservatives are fraternal
twins. Going forward, maybe we will
find more and more persons having
less and less interest in politics.

Conclusion

There is nothing Bahamians like
better than general elections. Once
the actual date is announced, the
whole country will be totally absorbed
by the various campaigns.

Bahamian political rallies are truly
unique affairs, as they have histori-
cally provided entertaining political
speeches, good food, excellent
Bahamian entertainment and an
opportunity to catch up with old
friends — all within a relatively safe
environment and topped off by a first-
class fireworks display. Let the cam-
paign begin.

Until next week...

NB: Larry R. Gibson, a Chartered
Financial Analyst, is vice-president -
pensions, Colonial Pensions Services
(Bahamas), a wholly-owned subsidiary
of Colonial Group International,
which owns Atlantic Medical Insur-
ance and is a major shareholder of
Security & General Insurance Com-
pany in the Bahamas. |

The views expressed are those of
the author and do not necessarily rep-
resent those of Colonial Group Inter-
national or any of its subsidiary
and/or affiliated companies, Please
direct\any questions or comments to
rlgibson@atlantichouse.com.bs

See eas Sees

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4 i





BUSINESS







KOJI SASAHARA/AP

MONDAY FIGURE: Nikkei 225
index in Tokyo is shown.

World —
markets
close
higher

BY TOBY ANDERSON
Associated Press

World stock markets closed

higher Monday, with European

indexes buoyed by merger and |

acquisition activity, while U.S.
markets were closed for the
Martin Luther King Jr. Day holi-
day.

Sentiment was also sup-
ported by the gain in U.S. mar-
kets Friday, when the Dow
Jones industrial average marked
its 24th record close since the
start of October. oe

Most Asian markets gained
ground, with Hong Kong’s
benchmark index returning
above the 20,000 level, boosted
by broad gains in the Japanese
and Chinese bourses. The Hang
Seng Index surged 2.3 percent
to close at 20,068.56, while
Tokyo’s Nikkei 225 index

advanced 0.90 percent to close __

at 17,209.92.

. Britain’s FTSE 100 Index rose
0.4 percent to 6,263.50, while
Germany’s DAX Index gained
0.4 percent to 6,731.74 and
France’s CAC 40 gained 0.2 per-
cent to'5,630 5 ees

Deutsche Boerse was up 5.3
percent to close at $202.59
because of strong figures from
its Clearstream business.





In Hong Kong, analysts

expect strong selling pressure |
near current levels ‘in the
benchmark index this week
ahead of expected strong eco-

nomic data in the U.S., and an —

anticipated interest rate hike in
Japan.

Property and China-related
shares outperformed the mar-

ket’s rally, boosted. by the

strength in regional bourses.

Japanese shares rose for a

second day on upbeat machin-
"ery orders and Wall Street’s
continuing rally while Chinese
shares posted its biggest one-
day advance in a year and a half.

Japanese machine orders —
widely regarded as a leading .

indicator of corporate capital

investment — surged 3.8 per-

cent in November from Octo-

bers ae

- Machinery maker Okuma

rose 3.01 percent to $11.12.
Japan Airlines jumped 5.11

percent to $2.06 on reports that —

it will secure new funding for
restructuring efforts.

Oil prices were up Monday,
as traders weighed possibilities
that OPEC may hold an emer-
gency meeting as early as this
week to try to reverse the 13
percent plunge in oil prices this
year.

Still, with the market drifting
up and down during the course
of the day, prices appeared
ready to lose more ground in
the absence of quick action by
the Organization of Petroleum
Exporting Countries, _

But at OPEC headquarters in

Vienna, an official who asked
not to be identified because she
was not authorized to comment .
said such a meeting was
unlikely — at least for this
week. Light, sweet crude for
February delivery was up 17
cents at $53.17 a barrel in elec-
tronic trading on the New York
Mercantile Exchange by after-
noon in Europe. The Brent
crude contract for February
delivery also was up — by 31
cents — at $53.26 a barrel on the
ICE Futures exchange.



AEROSPACE



TUESDAY, JANUARY 16, 2007

77 EEC EBRD TSE UE ISLES AO REIL ENRON

3B

Smiths sells aerospace unit to GE

li General Electric said Monday’s
$4.8B purchase would broaden
its aerospace portfolio. GE and
Smiths also have a joint venture
planned, Smiths GE Detection.

Associated Press

LONDON — General Electric, the
world’s largest aircraft engine maker,
agreed Monday to buy the aerospace
business of Smiths Group, Britain’s
third-largest aerospace company, for
$4.8 billion in cash.

Smiths will return $2.1 billion to
shareholders, the London-based com-

The Los Gatos-based company
plans to unveil the new “Watch
Now” feature today, but only a
small number of its more than 6
million subscribers will be get
| immediate access to the service,
| which is being offered at no addi-
tional charge.

Netflix expects to introduce the
instant viewing system to about
250,000 more subscribers each
week through June to ensure its
computers can cope with the
increased demand.

After accepting a computer
applet that takes less than a minute



AIRLINES



pany said in a statement. GE and
Smiths also announced plans for a
joint venture called Smiths GE Detec-
tion, —

The market reacted enthusiasti-
cally, pushing Smiths shares up more
than 15 percent to $22.24 on the Lon-
don Stock Exchange. The company
has been under shareholder pressure
to break itself up, but has resisted.

Fairfield, Conn.-based GE said the
purchases would broaden its aero-
space portfolio by adding Smiths’
flight management systems, electrical
power management, mechanical

TECHNOLOGY

Se

BY MICHAEL LIEDTKE
Associated Press

LOS GATOS, Calif. — Netflix will start showing movies and TV
episodes over the Internet this week, providing its subscribers with more
instant gratification as the DVD-by-mail service prepares for a looming
technology shift threatening its survival.

to install, subscribers will be able to
watch anywhere from six hours to
48 hours of material per month on
an Internet streaming service that
is supposed to prevent piracy.

The allotted viewing time will be
tied to how much customers
already pay for their DVD rentals.
Under Nettflix’s most popular $17.99
monthly package, subscribers will
receive 18 hours of Internet viewing
time.

The company has budgeted
about $40 million this year to
expand its data centers and cover
the licensing fees for the roughly

Service at the forefront

Midwest is being targeted for a
hostile takeover, which many of
its shareholders fear will take
away many of the serive perks
the airline provides.

BY EMILY FREDRIX
Associated Press

MILWAUKEE — Known for wide
leather seats, freshly baked cookies
and attention to detail, regional car-
rier Midwest Airlines has largely
flown under the national radar as it
quietly gained a following in its
namesake region.

The underdog airline now finds
itself under siege — the target of a
hostile takeover that many of its loyal’
passengers and shareholders fear will
end the perks and transform the air-
line from one that boasts, “The Best
Care in the Air,” to just another air-
line.

“On other airlines, most business
models are to pack them in,” said Art

of battle over Midwest

Suarez, a Milwaukee area resident
who is leading a grass-roots effort to
fend off the merger. “We feel like
objects and Midwest makes us feel
like people.”

.What started as an airline for
executives of consumer products
giant Kimberly-Clark almost 40 years
ago has grown into a company that
serves 48 cities on 345 flights a day.

Besides earning accolades for its
service, especially its two-by-two
seating, Midwest has attracted the
interest of rival low-cost carrier Air-
Tran Airways.

AirTran announced in mid-De-
cember that Midwest Air Group, par-
ent company to Midwest, rejected its
takeover bid worth about $290 mil-
lion. Milwaukee-based Midwest
rejected the offer in early December
without making a peep.

AirTran has continued to make its

° TURN TO MIDWEST



method for piping movies into

actuation systems and airborne plat-
form computing systems.

“GE Aviation is growing about 10
percent a year and this acquisition
gives us a technology growth plat-
form that will be accretive to our net
income and will deliver immediate
and future value for our investors,”
GE Chairman and Chief Executive
Jeff Immelt said in the statement.

Smiths Aerospace has more than
11,000 employees and posted revenue
of $2.4 billion in 2006. It has been
working on projects like Boeing’s 787
aircraft, the Airbus A380 as well as

aneenony
j
|
i



NOAH BERGER/AP

TRYING IT OUT: Netflix founder and CEO Reed Hastings demonstrates the ‘Watch Now’ feature on
his company’s website in Los Gatos, Calif. The firm is planning to unveil the new feature today.

1,000 movies and T'’V shows. that
will be initially available for online”
delivery.

Netflix’s DVD library, by com-
parison, spans more than 70,000
titles, one of the main reasons why
the mail is expected to remain the
preferred delivery option for most
subscribers.

Another major drawback: the
instant viewing system only works
on personal computers and laptops
equipped with a high-speed Inter-
net connection and Microsoft
Corp.’s Windows operating system.
That means the movies can’t be
watched on cell phones, TVs or
video iPods, let alone computers
that run on Apple Inc.’s operating
system.

Despite its limitations, the
online delivery system represents a
significant step for Netflix as it tries
to avoid obsolescence after the
Internet becomes the preferred

homes.

°TURN TO NETFLIX.

the Joint Strike Fighter military pro-
ject.
Smiths will call an extraordinary
shareholders meeting during the sec-
ond quarter to approve the sale,
which is also subject to regulatory
approval.

Speaking on a conference call with
reporters, Immelt said the acquisition
complemented GE’s existing business
instead of being a consolidation, and
he looked forward to “a constructive
process” with EU antitrust regula-

° TURN TO GE

INTERNET

Swedish
ad firm

@ With the addition of
TradeDoubler, AOL aims to

strengthen its position in
Europe’s online market.

BY PAUL TOBIN
Bloomberg News

AOL, Time Warner’s Internet unit,
agreed to buy TradeDoubler, a Swed-
ish Internet advertising company, for
$900 million to expand in Europe.

- AOL offered 215 Swedish kronor
per share, or 8.6 percent more than
TradeDoubler’s closing price on Jan.
12, AOL said Monday in a statement.
TradeDoubler’s board unanimously
recommends the offer and sharehold-
ers owning about 20 percent of the

' company have agreed to ‘accept it,

INSTANT VIEWING |

COMING TO A COMPUTER NEAR YOU: NETFLIX
DELIVERED ON THE INTERNET

AOL said. With the addition of Stock-
holm-based TradeDoubler, AOL aims
to strengthen its position in Europe’s
online market and add to the range of
services provided by its Advertis-
ing.com division. AOL acquired
Advertising.com in 2004.

“This is a complementary pur-
chase, and I would imagine that they
would probably merge those assets
into a single, pan-European ad net-
work,” said Greg Sterling, an analyst
at Sterling Market Intelligence in
Oakland, Calif. “The question is what
sort of premium they need to pay
beyond what they’ve offered.”

TradeDoubley shares rose above
AOL’s offer, jumping 15 percent to
227 kronor in Stockholm. Before
Monday, the shares had advanced 48
percent in the past six months.

Mats Bergstroem, an analyst at
Nordea in Stockholm, said that while
the bid is lower than his share-price
estimate of 230 kronor for Trade-
Doubler shares, he doesn’t foresee
another player making a counteroffer
at this stage.

_ The purchase highlights AOL’s
shift to free websites and e- mail ser-
vices that are supported by advertis-
ing instead of Internet access. The
company in September sold its Ger-
man and French Internet-access busi-
nesses,



es

MORRY GASH/AP

HIGHLY SOUGHT AFTER: Midwest has attracted the interest of rival
low-cost carrier AirTran Airways. Above, workers preparea
Midwest plane at Gen. Mitchell International Airport in Milwaukee.





4B| TUESDAY, JANUARY 16, 2007___ INTERNATIONAL EDITION __

BUSINESS BRIEFS

e@ TRADE TALKS



AHN YOUNG-JOON/AP

EAR FTA MEETING SITE: Students hold candles during a
rally against a South Korea-U.S. free-trade agreement
Monday in Seoul, South Korea.

US., South Korea vow
major free-trade effort

From Herald Wire Services

SEOUL, South Korea — South Korea and the United States
vowed a major push this week in free trade talks that have so
far yielded little progress and face a fast-approaching dead-
line.

The two sides started their sixth round of negotiations
Monday after five previous efforts since June left them far
apart on issues ranging from antidumping provisions to trade
in automobiles and pharmaceuticals.

“In this round of negotiations both parties will exercise
flexibility and, as a result, I believe that we'll be able to
resolve many of the remaining issues,” Ambassador Kim
Jong-hoon, South Korea’s chief negotiator, told reporters.

A successful deal would slash tariffs and other barriers on
a wide range of goods and services from the two nations,
which already do $72 billion worth of business a year.

South Korea, the world’s 10th-largest economy, is the
United States’ seventh-biggest trading partner.

o MEATPACKER e@ COMPENSATION

SMITHFIELD WORKERS EXEC PAY RETURNS
PROTEST FOR HOLIDAY TO CROSSHAIRS
A few hundred employ- Bolstered by new federal
ees at amassive Smithfield disclosure rules and a slate
_ Foods (SFD) hog slaugh- of news about outsized pay

packages, lawmakers and
fed-up investors are coming
out swinging ahead of this
year’s corporate proxy sea-

terhouse missed work Mon-
day after a union called for a
walkout to protest the com-
pany’s decision to not make

Martin Luther King Jr. Day a son and promising to press

paid holiday. companies harder than ever
But it was difficult to tell about spiraling levels of

if the workers didn’t come CEO pay.

to work because of the Packages like the $210

million given to former
Home Depot Inc. CEO Bob
Nardelli have helped to reig-
nite outrage in Washington
and among investors’ advo-
cates over huge executive
pay, and the combination of
likely legislative proposals
in Congress and shareholder
initiatives at upcoming
annual meetings may force
companies to rethink the
way they pay top executives.
New House Financial
Services Committee Chair-
man Barney Frank, a Massa-
chusetts Democrat, is plan-
ning hearings on CEO pay
this year, and wants to give
shareholders more of a say
in approving compensation.
Last year, he introduced a
bill that would’ve given
shareholders a vote about
pay and “golden parachute”
packages for CEOs.

union or because of other
reasons, Smithfield spokes-
man Dennis Pittman said.

On atypical day, about
100 to 150 people miss a
shift, and on Monday there
were as many as 150 addi-
tional employees absent,
Pittman said. He said he
couldn't tell why the work-
ers didn’t come but that the
plant — which has two daily
shifts of 2,500 people — con-
tinued operations.

The United Food and
Commercial Workers Union
estimated that 400 people
among the 2,500 scheduled
to work Monday morning
walked out or did not come
to work. The union has been
running an organizing cam-
paign at the plant and
already lost one election.

e BEVERAGES

COKE TRADE SECRETS
TRIAL SET TO BEGIN e BANKING
REPORT: CITIGROUP TO

REBRAND ITSELF

Executives at financial
giant Citigroup (C) are pre-
paring to rebrand the com-
pany with a shorter name —
“Citi” — and a new logo
without the signature red
umbrella, according toa

Prosecutors say a former
Coca-Cola (KO) secretary
took confidential documents
from the beverage giant and
samples of products that had
not been launched with the
aim of selling them to rival
Pepsi. Her lawyer says she
was duped by two ex-cons

and did not commit a crime. published report.
A jury will be asked to The new name and look
determine who is telling the will be presented to Citi-

group’s board this week fol-
lowing a 14-month review of
the bank’s brand, The New
York Times reported Mon-
day. The plan still could
undergo changes before a
rollout that could begin as
early as next month, the
report said.

“We continue to work on
our branding effort and will
announce our decisions
when it is completed,”
spokeswoman, Leah John-
son, said.

The new design is similar
to the “citi” logo with an arc
that now appears on much
of Citigroup’s consumer
advertising and credit cards.

_ truth. The process of select-
ing that jury starts Tuesday
in Joya Williams’ trial.

Williams, who was fired
as an administrative assis-
tant to The Coca-Cola Co.’s
global brand director after
the alleged scheme came to
light last summer, faces up
to 10 years in prison if con-
victed of conspiracy.

Williams, Edmund Duha-
ney and Ibrahim Dimson
were indicted on the single
federal charge, accused of
stealing new product sam-
ples and confidential docu-
ments from Coca-Cola and
trying to sell them to

PepsiCo.





}
i



}

|

\

{



BRITAIN

w

_MiamiHerald.com | THE MIAMI HERALD

British Airways cabin crew
votes in favor of a strike

LONDON — (AP) — Thou-
sands of British Airways
employees have voted, to
strike following disputes cen-
tering on sick pay and pen-
sions, union officials said
Monday.

In one of the largest majori-
ties seen in such a dispute,
some 96 percent of cabin
crews voting on the action
opted for a strike, the Trans-
port and General Workers
Union said. No strike deadline
was set. Cabin crew workers
had claimed the airline pres-
sured them to come to work

AIRLINES




Cabin crew workers had claimed the airline
pressured them to come to work even if they

felt sick, the union said.

even if they felt sick, the union
said. A separate dispute
focused on pension plans.
“BA cabin crew have voted
to say the airline has gone too
far,” said Jack Dromey, the
union’s deputy-general secre-
tary. “BA must rebuild the
trust of its cabin crew by nego-
tiating rather than imposing
change and by listening to its

staff rather than riding rough-
shod over their concerns.”

British Airways officials
issued a statement to decry
what they described as an
unnecessary strike.

“We have not been seeking
to achieve new ways of work-
ing by imposition, but by
negotiation as in many other
areas of our business,” the air-

MORRY GASH/AP

SWEETENED DEAL: A Midwest plane taxis past an AirTran plane at Gen. Mitchell
International Airport in Milwaukee. AirTran recently sweetened its offer to
$345 million in cash and stock for rival Midwest Air.

Service at forefront of
battle over Midwest

* MIDWEST

case by taking out full-page
advertisements in Midwest’s
hometown paper, courting
local officials and appealing
to passengers and sharehold-
ers to urge the board to recon-
sider. On Thursday, it raised
its bid to $345 million in cash
and stock. Midwest said its
board will evaluate the offer
and make a recommendation
to shareholders within 10
days.
‘Extending an olive branch
to wary shareholders, Air-
Tran has said it would take a
hard look at Midwest and
could even learn from it about
customer service, said Tad
Hutcheson, vice president of
marketing for the Orlando-
based airline
For example, should the
merger go through, AirTran
would bake cookies on all its
flights, Hutcheson said.
“That’s a distinctive hall-
mark of Midwest service and
° we have to keep it,” he said.
Consolidations seem to be
the way of the airline industry
right now. United and Conti-
nental are holding prelimi-

TECHNOLOGY

Netflix now delivered on the

* NETFLIX

“This is a big moment for
us,” Netflix Chief Executive
Reed Hastings. “I have always
envisioned us heading in this
direction. In fact, I imagined
we already would be there by
now.”

Besides preparing Netflix
for the future, the instant
viewing system also gives the
company a potential weapon
in its battle with Blockbuster.
As part of an aggressive mar-
keting campaign, Blockbuster
has been giving its online sub-

scribers the option of bypass-.

ing the mail and returning
DVDs to a store so they can
obtain another movie more
quickly.

Since its 1999 debut, Net-
flix has revolutionized movie-
watching habits by melding
the convenience of the Web
and mail delivery with a flat-
fee system that appealed to

nary discussions of a merger
and US Airways has made a
hostile bid for bankrupt rival
Delta Air Lines.

AirTran argues that the
merger makes sense and
pushed its offer in ads in the
Milwaukee Journal-Sentinel.
AirTran Airways has its hub
in Atlanta, which would com-
plement Midwest’s hub in
Milwaukee, AirTran Chair-
man and Chief Executive Joe
Leonard has said. Also, the
airlines’ respective fleets
make heavy use of Boeing
717s, so the merger could be
seamless.

Midwest says the attention
is flattering, but no thanks.
The company also hired
Goldman, Sachs & Co. as a
financial adviser after the
takeover rejection to look at
its own business plan and
respond to anything that may
happen, spokeswoman Carol
Skornicka said.

“For our entire history,
we’ve had to overcome the
skeptics who said we were
too small or our business
model couldn’t work, and
we've always emerged as the
exception that succeeded,”

consumers weary of paying
the penalties imposed by
Blockbuster for late returns to
its stores. After first brushing
off Netflix as a nettlesome
novelty, Blockbuster has
spent the past few years
expanding a similar online
rental service that provoked a
legal spat over alleged patent
infringement.

Netflix has been able to
maintain its leadership so far.

In the last three years, Net-
flix has signed up nearly 5 mil-
lion more subscribers to
become increasingly profit-
able. Although Netflix won't
report its 2006 earnings until
later this month, analysts
believe the company made
about $44 million last year, up
from $6.5 million in 2003.

Despite the company’s
growth, Netflix’s stock price
has dropped by more than 40
percent over the past three
years, shriveling to $22.71 at

Midwest CEO Tim Hoeksema
wrote in a full-page ad of his
own in the paper.

Midwest first started as a

service for executives of Kim-
berly-Clark in 1969 out of
Appleton, Wis. Ten years
later, Midwest Express was
born and the company started
serving commercial passen-
gers. A few years later, it
moved to Milwaukee, going
public in 1995. Today it serves
48 cities, including large ones
like Los Angeles and Wash-
ington, D.C., and smaller ones
like Garden City, Kan., and
Flint, Mich. ° .
Midwest developed a fol-
lowing for its service, which
most likely resulted from its
founding as an executive air-
line, said Darryl Jenkins, an
independent airline consul-
tant in Marshall, Va. People
nowadays pay attention when
they get perks in the air, since
there are so few, he said.

“In the last six years, even
the airlines that call them-
selves full service scaled back
to the bones, so any time you
have any service at all it
stands out for people,” Jen-
kins said.

the end of last week.

The erosion largely
reflects investor misgivings
about Netflix’s long-term
prospects.

‘Once it becomes more
practical to buy and rent
movies within a few minutes
on high-speed Internet con-
nections, few consumers pre-
sumably will want to wait a
day or two to receive a DVD
in the mail. If that happens,
Netflix could go the way of
the horse and buggy.

Online movie delivery
already is available through
services like CinemaNow,
MovieFlix, Movielink, Vongo
and Amazon.com’s recently
launched Unbox. Apple also is
emerging as major player,
with hundreds of movies and
TV shows on sale at its
iTunes store and a new device
that promises to transport
media from a computer to a
TV screen.

line’s statement said. “The
leaders of the [union’s] cabin
crew branch have created a
worrying time for our custom-
ers and our staff.”

Further talks are set for
later this week, both sides said.

A strike affecting Britain’s
biggest airline could cause dis-
ruptions at airports, which
were rocked last year by hun-
dreds of canceled flights after
authorities uncovered a plot to
bomb trans-Atlantic jet planes.
Revelation of the plot led to
enhanced security measures
that led to widespread delays.

$

AEROSPACE

Smiths —
sells
aerospace
unit to GE

°GE

tors.

The European Union
blocked GE’s attempt to take
over Honeywell in 2001,
although the deal had been
approved by U.S. regulators.

Smiths Chief Executive
Keith Butler-Wheelhouse said
the decision to sell the aero-
space arm was made last
autumn. “The structure of the
aerospace industry is chang-
ing — in particular its
increased capital require-
ments and the growing impor-
tance of supplier scale, espe-
cially as the next generation
of large programs kicks in.”

Butler-Wheelhouse said he

approached GE about buying -
its Homeland Protection unit

during the aerospace negotia-
tions, but was turned down.

The new Smiths GE Detec-
tion joint venture will com-
bine Smiths’ Detection opera-
tions with GE Homeland
Protection. Smiths will own
64 percent and GE will have
36 percent, with the partners
committed to holding those
stakes for at least five years.

“Our combination of tech-
nologies will result in devel-
opment of more effective
products and services to help
make the world a safer place,”
Butler-Wheelhouse said.

The joint venture will have
pro-forma annual revenue of
about $1.2 billion.

Fortis Securities in London
commented that the aero-
space deal “comes close to a
complete break-up” of
Smiths. “The aerospace divi-
sion is extremely well-placed,
having major contracts with
Boeing, Lockheed Martin and
others, but lacks scale for
long-term independence,”
Fortis commented.

Butler-Wheelhouse said
there are currently no talks to
sell off the remaining Smiths
units, but said “we reconsider
these things continuously.”

Internet

But none of those online
services have caught on like
Netflix’s mail-delivery: sys-
tem, partly because movie
and TV studios generally
release their best material on
DVDs first. The studios have
had little incentive to change
their ways because DVDs still
generate about $16 billion of
highly profitable sales.

Like already existing
online delivery services, Net-
flix’s “Watch Now” option
offers a lot of “B” movies such
as Kickboxer’s Tears. But the
mix also includes critically
acclaimed selections like Net-
work, Amadeus, Chinatown
and The Bridge On the River
Kwai.

The studios contributing to
Netflix’s new service include
NBC Universal, Sony Pic-
tures, MGM, 20th Century
Fox, Paramount Pictures,
Warner Brothers, Lion’s Gate
and New Line Cinema.

ON OW wt oe

ee

oe

Lee a OR at

Lhe ee ma





THE TRIBUNE







l By CARA BRENNEN-BETHEL

Tribune Business Reporter

A BAHAMIAN has turned his love
of travel into a lucrative part-time
career by becoming a Global Travel
International (GTI) independent tray-
el agent.

Ryan Knowles, who works as an

administrative assistant during the
week, earns additonal income.as a trav-
el agent.
.~ Mr Knowles, and more than 35,000
_ GTI agents, earn money by referring
people to the company and booking
their travel.

Mr Knowles said “the innovative con-

cept” in selling travel is rapidly chang-








Be



ay

(SHI





“AN
RLEY &



ing the travel industry by allowing
’ agents to sell travel at a lower cost.
“With tens of thousands of indepen-



Brand new upscale mini mall. fs

located Shirley & Church Streets

_ Bridge, and along bus routes, lots

710 sq ft - Retail Store + 854 sq ft-B
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BUSINESS

dent travel agents, GTI sells over $100
million in travel per year,” he added.

Mr Knowles told The Tribune he
learnt of the GTI opportunity on the
Internet, and said that as far as he is
aware he is currently the only Bahami-
an doing this.

He described it as an extremely lucra-
tive career, with earnings dependent
only on the amount of time and effort

‘one puts into the business.

“This is one of the better opportun-
ties for making money,” he said.

Mr Knowles explained that becoming
a meniber of GTI is relatively simple.

He said: “You just have to contact
the company, pay an activation fee for
start-up materials and then pay annunal








membership dues.

“Agents then earn money through
commissions on personal bookings and
also on the bookings of anyone they
bring into the business as a new agent.
In addition, they enjoy upgrades and
discounts of up to 50 per cent off on
their own travel.

“T love being able to sell travel out of
my home and earn commissions.
Through GTI, I can offer wonderful
travel deals to my clients at fanatastic
rates.”

GTI is a privately-owned Matiland,
Florida-based travel company that pro-
vides all the neccessary resources for
anyone to become an independent trav-
el agent.

Royal Holiday

is now seeking Sales representaives to join their
multi-million dollar Sales Team.

Are you goal oriented, energetic, well groomed,
self-motivated, ambitious, —
between 21-35 years of age, love making money

and meeting people?

If this sounds like you, your opportunity is here!

Interested persons should visit
Royal Holiday at the Wyndham Nassau Resort
ground floor opposite Crystal Sweets Restaurant or

Call 242-327-5595/8

TUESDAY, JANUARY 16, 2007, PAGE 5B





your —
business

news

The Tribune wants
to hear from people
who are making
news in their
neighbourhoods.
Perhaps you are
raising funds for a
good cause,
campaigning for’ .
improvements in the
area or have won an
award. If so, call us on
322-1986 and share:
your story.










Betty K. Agencies (Nassau) Ltd.



Yo our valued customers, please be
advised that, until further notice, The
Betty K. Agencies (Nassau) Limited,
office and warehouse will be closed
to the general public on Saturdays. Our
warehouse will be closed from Friday 19th
thru Monday 22nd January 2007 for

renovations.

We apologise for any inconvenience caused
and look forward to serving you in the

future.

We take this opportunity to wish you and
your’s a very happy and prosperous new
year.



6B, TUES




PAGE



@ By Fidelity Capital
Markets _
IT was a pretty active trad-

ing week in the Bahamian

market as almost 70,000 shares
changed hands. Phe market
saw 12 out of its 19 listed
stocks trade, of which five
advanced, two declined and
five remained unchanged.
Volume leader for the week
was Abaco Markets (AML)
with 15,000 shares changing
hands and accounting for 21.6

DAY, JANUARY 16, 2007

per cent of the total shares
traded.

The big advancer for the
week was Benchmark
(Bahamas) (BBL), gaining
$0.04 or 5.26 per cent to end
the week at $0.80. Also
advancing this week was Fam-
Guard Company (FAM), up
$0.16 or 2.76 per cent to close
the week at $5.95.

The FINDEX gained 8.85
points for the week, to close
at 751.30. The jump in the
FINDEX can be attributed to

a $0.30 increase in First-
Caribbean International Bank
(Bahamas) (CIB) share price,
which ended the week at a new
52-week high of $14.45.

COMPANY NEWS

Freeport Concrete Company
(FCC) —

FCC announced this week
that the company had request-
ed and was granted an exten-

SLU ators

MARKET WRAP

sion to file its financial results
for the year ended August 31,
2006.

The extension was requested
as the company is projecting a
loss of $2 million for fiscal
2006, and its auditors had to
undertake further audit proce-
dures, coupled with FCC hav-
ing to provide additional finan-
cial statement disclosure
requirements to its sharehold-
ers.

FCC's share price ended the
week at $0.55.




THE TRIBUNE





Statute Laws of



Customer Service
Engineer

Micronet Ltd...
requires a Customer Service Engineer.

a leading business technology supplier

A minimum of 2 years experience in the implementation

of LAN and WAN networks using Microsoft and CISCO
technologies. working knowledge of Voice technology,
implementation of PBX Systems:

The key areas of experience are as follows:

° Experience in implementing and troubleshooting
LAN and WAN solutions

* Microsoft Server certifications and experience

© Strong TCP/IP knowledge and routing concepts

¢ Experience in the repair of computers, printers and
related peripherals a plus

° Working knowledge of Nortel Meridian, Nortel
Succession or Nortel BCM Systems

Desired Certifications
e CISCO- CCNA Minimum
e MCP, MCSE
° Nortel Installation and maintenance certifications

No telephone calls. Please esis in writing via email
or fax (subject line: CSE) to:

The Manager

Micronet Ltd.

Email: jobsi@micronet.bs
Fax: (242) 328-3043

TOSHIBA.

COPY» FAX€P RINT <





COMMONWEALTH OF THE BAHAMAS 2006
IN THE SUPREME COURT COM. bnk, 00015

Commercial Division

IN THE MATTER OF MOSAIC COMPOSITE
LIMITED now MOSAIC COMPOSITE
LIMITED (U.S.) INC.

(a Minnesota Corporation) (“Mosaic”)
AND

IN THE MATTER OF THE INTERNATIONAL BUSI-
NESS COMPANIES ACT, Chapter 309,
‘he Bahamas, 2000 Edition (“the Act’)

NOTICE IS HEREBY GIVEN that a Petition for
the winding-up of the above-named Company was on the
17th day of March.2006 presented to the said Court by
Olympus Univest Ltd. (in liquidation) co BDO Mann Judd.
Third Floor, Last Street North, Nassau,
Bahamas ,

AND that the said Petition which was directed to be
heard before the Honourable Madame Justice Cheryl Albury
Harrison Building,
I4th day of

)O o'clock in the forenoon is now

Ansbacher Ilouse,

in Court at the Law Courts, the
Street,
December, 2006 at 11:(
directed to be heard on ‘Tuesday, the 23rd day of January,
2007 at 10:30 o'clock in the forenoon before the said Judge
Creditor or contributory of the said Company

Marlborough Nassau on “Thursday,

and any
desirous lo support or oppose the making of an Order on
the said Petition may appear at the time of the hearing in
person or by his Counsel for that purpose; and a copy of the
undersigned to any
Creditor or Contributory of the said Company requiring such
copy on payment of the prescribed charges for the same.

A.D. 2007

Callenders &CO.

One Millars Court,
Nassau, Bahamas
Attorneys for the Petitioner

Any person who intends to appear on the hearing of
on or send by post to. the
in writing of his intention to do so.
The Notice must state the name and address of the person,

address of the firm aud must

} Petition will be furnished by the

| DATED the 12th day of January,
H

! Chambers,

i

} NOTE:

' the said Petition must serve

i above-named, notice

! or, if a firm, the name and

be signed by the person or firm or his or their attorney if
any, and must be served or if posted, must be sent by post
in sufficient time to reach the aboye named not later than

4:00 o’clock in the afternoon of 22nd day of January, 2007

LEB LTTE LE ATE TPE IE PT ET ETAT NE PPE HITE IT



CAT

CAT/OLYMPIAN GENERATORS

Residential and Commercial Back-up

M&E Limited

¢ GEPX33 (27.2 kw)
¢ GEPX65 (60 kw)
¢ GEPX88 (80 kw)
¢ GEPX110 (100 kw)
¢ GEPX150 (132 kw)

Get Prepared for 2007 Hurricane
season with 2006 Prices

Check Our Prices
Before BUYING!!"!

Nassau: 323-5701
E-mail: aosorio@me-Itd.com

Freeport: 352-5981
Anwar @me-lItd.com

In House Financing available



SENIOR SYSTEMS ADMINISTRATOR



Information Technology

A repatable financial institution headquartered in Bermuda, with offices in The
Bahamas, Barbados, the Cayman Islands, Guernsey, Switzerland and the United
Kingdom. Butterfield Bank offers a wide range of services to focal and
international clients.

An exciting opportunity currently exists for a results oriented self starter with a
record of professional achievements to join a dynamic {nformaticn Technology
team. The successful candidate will report directly to the Head of Information
Technology.

. .

Core Responsibilities

* Develop, maintain, support and optimize the organization's network
infrasirueture. server jafrastructare, data communications, asd
telecommuanications systoms.

* Ensure hardware and software is maintained and data is secured through
proper back-ups and stalf training.

® Prepare and maintain technical specifications and related documentation to
secive procedures and prevent system failure. This includes fP Disaster
Recovery / Business Continuity planning.

® Provide management and direction for end-user support function in support of
business operations, inclusive of management of the Help-Desk function.



* Manage and duect software, hardware, network, telecommunications and web
providers to enhance operational efficiencies and ROL based on the bank's

business objectives.
@

Desired Qualifications

® Bachelor's Degree in Coniputing or related discipline fron a well recognized
university.

2 A minimum of five years progressive professional IT experience preferably in
the Financial Services Industry.



= FT based training or qualifications (MCSE, CISSP and CCNA) from
accredited institutions will be advantageous,

* — Proficientin computer systems and network management, LANs, WANs;
telecommunieations, Web-based applications, client-server applications, and
PC-based software applications.

â„¢ Working knowledge of Microsoft Windows Servers, Microsoft Windows XP,
Microsoft SOL Server, Microsoft Office and Microsoft Exchange Server
syslums.

® Strong interpersonal, communication, problem solving, project management
and castomer service skills,

Closing Date: January 26, 2007

Contact

Human Resourees

Butterfield Bank (Bahamas) {inited
P.O. Box No 3242

Nassau, Bahanias

Fas: (242) 393 3772

E-mail: recruitmeat@ butterfieldbank.bs









wavw. butferfieldbank.bs

Me

Butterfield Bank



The Bahamian Stock Market
FINDEX 751.30 YTD 1.24%
BISX CLOSING CHANGE VOLUME YTD PRICE
SYMBOL PRICE CHANGE
AML $0.59 $-0.02 15000 -3.28%
BAB $1.25 $-0.01 9000 0.00%
BBL $0.80 $0.04 1500 5.26%
BOB $8.03 $- 0 0.00%
BPF $11.30 $- 5000 0.00%
BSL $14.60 $- 0 0.00%
BWL $1.75 $- 0 0.00%
CAB $10.00 $- 5600 0.00%
CBL ° $12.64 $0.10 4350 1.04%
CHL $1.90 $- 14290 | 0.00%
CIB $14.45 $0.30 2000 2.12%
CWCB $4.84 $-0.03 O- -0.62%
DHS $2.50 $- 0 0.00%
FAM $5.95 $0.16 2000 2.76%
FCC | $0.55 $- 0 0.00%
FCL $12.55 $- 100 0.00%
FIN. $12.25 $0.23 ~—- 6400 1.91%
ICD $7.20 $- 4250 0.70%
JS}... $8.60 $- 0 0.00%
PRE . $10.00 $- 0 0.00%
DIVIDEND/AGM NOTES:

e CWCO has declared dividends of $0.012 per BDR,
payable on February 7, 2007, to all shareholders of record date
December 31, 2006.

| © Bahamas Superniarkets (BSL) will hold its Annual Gen-
' eral Meeting at 6pm on January 23, 2007, at the British Colo-
nial Hilton Hotel, 1 Bay Street, Nassau, Bahamas.







International Markets

FOREX Rates
Weekly % Change
CAD$ 1.1688 -0.33
GBP 1.9588 1.51
EUR ’ 1.2919 -0.63
Commodities
Weekly % Change
Crude Oil $51.88 -6.67
Gold $627.62 0.23

International Stock Market Indexes:

Weekly % Change
DJIA 12,556.08 1.27
S & P500 1,430.73 1.49
NASDAQ 2,502.82 2.82
Nikkei 17,057.01 -0.20



ETI WUC MUU
the #1 newspaper in circulation,
Mr Ry LT

CONSTRUCTION SUPERINTENDENT

A Bahamian company is seeking to employ an experienced
construction superintendent.

Applicants will be responsible for on site day to day manage-
ment and decision making. monitoring contract progress and the
construction schedule.

Applicants should have a minimum of 10 years experience in
similar construction, strong organizational skills, outstanding
oral and written communication skills, proficient in Microsoft
Office a plus and have the ability to work independently and
manage multiple projects and priorities.

Please send resumes to tamikabowe@ yahoo.com
or fax 322-6514























PROGRESSIVE SERVICE ORIENTED COMPANY
LOOKING FOR A
PARTS &SERVICE COORDINATOR



Extensive background in managing an OEM Heavy
Truck Service / Parts facility a must. Background in
Parts and Service management & coordination required
ona daily basis. Must be able to effectively administer
| all jacits of business. Minimum of 10 years experience |
preferred. Good people skills a must. Must have prior
experience in parts order entry and supervising
employees. Computer skills required on daily basis.
Must be self motivated and work with little or no
supervision.

Competitive Wages



We thank all applicants, however, only candidates to be
interviewed will be contacted.



Please hand deliver resumes and references to:

Bahamas Mack Truck Sales Ltd.
Oakes Field
P.O. Box N44
Nassau, Bahamas



THE TRIBUNE

PEW, Us ews wee



ean a es

Ex-Colina chief’s
al on hold

-appe

AN appeal by former Colina
Insurance Company president
James Campbell against an
Industrial Tribunal ruling was
placed on hold yesterday, after
one Court of Appeal Justice
recused himself from the hear-
ing, with no other judges avail-
able to hear the case.

Attorneys for Mr Campbell
and Colina Holdings, the insur-
ance company’s parent, and
‘the Colina Financial Group
(now called A. F. Holdings)
‘were back in court yesterday
on an appeal regarding the
employment aspects of Mr

Campbell's dismissal, and -

‘removal, from both companies.
‘The appeal related to issues
‘such as vacation pay and
‘bonuses allegedly owed to Mr
Campbell, attorneys for both
parties told The Tribune.

Yet the case was placed on
hold after Appeal Court Jus-
tice Hartman Longley recused
himself from the hearing.

The matter has been put off

‘indefinitely, as there are are
only two appeal justices, Jus-
tice Lorris Ganpatsingh and
Emanuel Osadebay, who can
now hear the matter.

President of the Court of

Appeal, Dame Joan Sawyer,
had already recused herself
previously. This again high-
lights the need for the appoint-

ment of more justices to the.

Court of Appeal.

Thomas Evans’ and
Veronique Evans appeared for
Mr Campbell, while Tara
Archer of Higgs an Johnson
appeared on behalf of the Col-
ina entities.

In a seperate case in Febru-
ary 2006, the Court of Appeal
ordered that Colina Financial
Group (CFG) and its two prin-
cipals, Emanuel Alexiou and
Anthony Ferguson, pay $9 mil-
lion to their former business
partner, James Campbell to
complete the $12.5 million pay-
off negotiated to secure his
removal.

Colina paid Mr Campbell an
initial $3.5 million, and later
alleged that subsequent
events caused the value of his
interest to be less than $12.5
million, leading to a dispute
over the remaining $9 mil-
lion.

That money was eventually

paid, but it was agreed that if

Mr Alexiou, Mr. Ferguson
and Colina succeeded in their

SAINT AUGUSTINE’S
COLLEGE





g@ JAMES CAMPBELL

appeal to the Privy Council,
the $9 million would be
returned by Mr Campbell..
An appeal was brought
before the London Privy
Council during its sitting in the

Auditors question
Freeport Concrete
as ‘going concern’

FROM page 1B

obtained an injunction against
“the Customs Department, pre-
-venting it from levying the
-duties and blocking the clear-
‘ance of Home Centre inven-
‘tory, until the Supreme Court
--decides the case.
* Tt is understood the matter is
*.due to be heard on February
-12, 2007.
Freeport Concrete’s results
are the latest headache for
*,Hannes Babak, its chairman
;’and largest shareholder with a
- -43 per cent stake, who has
already been blocked from act-
. ing as chairman of the Grand

Bahama Port Authority
(GBPA) in the battle between
the Hayward and St George
families.

The figures are likely to be
seized upon by Mr Babak’s
opponents, chiefly the St
George family, as evidence
why he should not continue as
the GBPA and Port Group
Ltd’s chairman.

Freeport Concrete’s share
price has nosedived since it
went public via the 2001 IPO,
and it stands at just $0.55,
slightly above its 52-week low
of $0.50 and well below the
$1.15 high.

‘The company’s net surplus

- total assets over total liabili-
ties - is around $1.87 million,
and currently relies heavily on
a $1.433 million appraisal
excess. This is the difference
between the appraised market
value of its real estate holdings
and the cost of these holdings.

The company’s’ accumulat-
ed losses of about $5.5 million
are now close to wiping out its
$5.774 million contributed sur-

plus.

The situation may lead to
calls for Mr Babak to invest
more capital into Freeport
Concrete, or for the firm to

_ seek a ‘white knight’ investor

to help keep it afloat.



2007 ENTRANCE EXAM

The Entrance Examination for

students wishing to enter Grade
Seven at St. Augustine’s College for

September, 2007 will be given
Friday, January 26th, 2007

Deadline for registration for this
examination is Friday January 19th.

Eligible students may register
at their Primary Schools or at
St. Augustine’s College. Only
Students in Grade Six will be
J allowed to sit the Entrance Exam.

(FILE photo)

Bahamas last December by Mr
Alexiou, Mr Ferguson and
CFG to overturn the ruling by
the Court of Appeal. A judg-
ment on the matter is pending
before the Privy Council.

SECTIONS EDITOR
THE TRIBUNE

is seeking a Main Section Editor to design news
pages and write eye-catching head-lines. Solid
journalistic credentials essential, including a keen
news sense, excellent text-editing ability and an
aptitude for supervising staff. Applications please
to: 3



Managing Editor
The Tribune
P.O.Box N-3207
Nassau, Bahamas

Cititrust (Bahamas) limited, a subsidiary of Citigroup,
a leading financial institution with a presence in over 100 countries
and over 100 million customers worldwide,

is seeking candidates for the position of

~ GLOBAL FEE
BILLING UNIT SPECIALIST

RESPONSIBILITIES

In providing fee billing processing support across several global
locations, the candidate will be specifically responsible for the
general administration of fee invoicing, collection, and associated
recovery management. The successful candidate will also be
responsible for payment of any client related expenses, database
management, maintenance of all fee agreements, as well as
document management including filing and imaging of
correspondence.

KNOWLEDGE/SKILLS REQUIRED

The ideal candidate with a Bachelor’s Degree in Accounting,
Finance or similar discipline, combined with a minimum of three
(3) years of Trust related experience in a global institution.

Additionally, he/she must have strong problem-resolution,
communication, organization and pc skills. The ability to work
in a global capacity with flexible working hours to address time
zone related issues and excellent interpersonal skills are also
necessary. Fluency in Spanish, German or French is also required. .

Interested candidates should forward a copy of their resume to:

Human Resources

Cititrust (Bahamas) Limited

P.O. Box N-1576,

Nassau, Bahamas

Fax: (242) 302-8779 OR

Email: betty.roberts@citigroup.com

Deadline for application is Friday, January 19, 2007.

EMPLOYMENT OPPORTUNITY/PROGRAM COORDINATOR

The Nature Conservancy Bahamas Program is seeking to fill the position of Program Coordinator.
The Program Coordinator coordinates the administrative and operational aspects of a program
or project. S/he contributes to the processes for annual planning and budgeting, submission of
periodic and annual financial and technical reports and monitoring progress over the life of the
program/project. The Coordinator may be responsible for developing operational guidelines to
ensure efficient management of the program and compliance with regulations. S/he coordinates
program/project-related workshops and meetings and documents activities, strategies and lessons
learned as appropriate. The Coordinator assists with the preparation of financial analyses and reports
for Program/Project management and other team members. S/he also assists in the preparation of
proposals for program/project support and serves as an information resource about the Program/
Project in general — helping to develop communications materials, and responding to public inquiries.

’ KNOWLEDGE/SKILLS

Bachelor’s degree and 3-5 years related experience or equivalent combination.

Excellent verbal and written skills.

Proven organizational skills and attention to detail.

Demonstrated experience in MS Office, Word, Excel, Power Point and Data Base Management. Ability
to manipulate, analyze and interpret data.

Understanding of how organizations work and experience with project implementation and design.

EMPLOYMENT OPPORTUNITY/SENIOR POLICY ADVISOR

The Nature Conservancy Bahamas Program is seeking to fill the position of Senior Policy Advisor.
The Senior Policy. advisor develops, coordinates and implements the program strategy to further the
work of the Conservancy and its conservation partners through direct interaction with the Governments
in the Northern Caribbean Program and multi- and bi-lateral agencies that provide conservation
opportunities and/or impact the nations’ conservation programs. S/he identifies conservation policy
and funding opportunities, evaluates the potential for TNC and NGO partner involvement, and develops
and implements strategies to influence policy and public funding for conservation at the national and/or
global levels. The Senior Policy Advisor liaises with counterparts in the Gonservancy’s Mesoamerica
and Caribbean Conservation Region and International Government Relations department to provide
and extract useful lessons and to coordinate on joint policy approaches. S/he also serves as contact
with the external professional community in the policy arena to keep abreast of new developments
and opportunities that may be useful to the Conservancy and its partners and to report on and share
the Conservancy's experiences with others. The Senior Policy Advisor provides expert policy analysis
and contributes directly to the Conservancy's public funding strategies by providing input for proposal
writing, negotiating with bilateral and multilateral agencies and donor cultivation as needed.

KNOWLEDGE/SKILLS

Bachelor's degree in relevant field and 6 or more years of senior relevant experience. Master's
degree may be preferred or required. May require federal agency or congressional staff experience or
equivalent experience for positions with a global focus.

Expert knowledge of current trends in relevant policy discipline.

Demonstrated experience conceiving and implementing strategic initiatives.

Demonstrated excellent project management skills.

Excellent verbal and written communications skills.

Interested persons should apply in writing with full details, including resume and cover letter, to
HYPERLINK “mailto:bahamas@tnc.org” bahamas@tnc.org by January 31, 2007.





THE TRIBUNE

PAGE 8B, TUESDAY, JANUARY 16, 2007

We can boost financial sector’s GDP share by 10% in 10 years’



FROM page 1B

been a major contributor to

MANAGER. BANKING & CUSTODY







BANKING DEPARTMENT

A reputable financial institution headquartered in Bermuda, with offices in The
Bahamas. Barbados, the Cayman Islands, Guernsey, Switzerland and the United
Kingdom, Butterfield Bank offers a wide range of services to local and
international clients.

An exciting opportunity currently exists for a results oriented self starter with a
recard of professional achievements to join our dynamic Banking Services teann.
The successful candidate wil report directly to the Head of Private Banking.

tte

Core Responsibilities

® To manage and control the banking and custody departments of the Bank ina
cohesive, well organized and risk oriented manner.

‘To effectively manage the Relationship Management Team of both banking
and custody so as a first class service is offered to all clients in a proactive
Manner,

B To assist with the development and implementation of new products and
systems as may be required in order to further enhance productivity and
efficiency.

® ‘To work closely with the Assistant Manager of Operational Risk
Management to ensure procedures and processes remain fully in tine with the
group's strategy relating to Enterprise & Operational Risk.

= ‘To ensure, at all times, the banking and custody operations are effectively
managed to ensure processing of all deposit and payments, foreign exchange
and security transactions are carried out technically correct, without error and
within procedures.

= ‘To ensure full aware of all applicable laws, regulations, bank policies and
procedures and that they are implemented effectively on a day to day basis
within the department.

® ‘To assist in the preparation of the banking and custody budgets and for the
effective management of revenues and Costs.

® Desired Qualifications
® Relevant Degree or related discipline froma well recognized university.

= A minimum of ten years progressive Banking/Custody experience in the
Financial Services Industry. i



® A good proven background in professional and experience ‘client facing role’.
® High degree of awareness and compliance orientation

® Proficient in Microsoft Office suite of products.

© Strong interpersonal, communication. problem solving, project management

and customer service skills.

Closing Date:January 26, 2007



Contact

Human Resources

Ratterfield Bank (Bahamas) Limited
P.O, Box N-3242

Nassau; Bahamas

Fax: (242) 393 3772

Email: recruitment@ batterticldbank.bs






www. buiterfieldbank bs

Butterfield Bank



our economy, it could do so
much more if we adopted the
correct approach to these
issues and get our strategic
planning right.

“We could boost its contri-

bution to GDP by 10 per cent
within 10 years, and I think
that its an exciting prospect.”
_ Mr Moree said that even an
increase in the financial ser-
vices industry’s contribution to
GDP of between 10-12 per
cent was not out of the ques-
tion, adding that this was “an
achievable, real objective” if
the Bahamas had the neces-
sary resolve and developed a
consensus on the direction the
industry should take.

The Forum chairman said
the sector had been “sta-
bilised” since the 2000 ‘black-
listing’ by the Financial Action












Nassau, Bahamas.

NOTICE |

NOTICE is hereby given that ESLINE DELVA OF
EAST STREET, NASSAU, BAHAMAS is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight
days from the 16th day of January, 2007 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,

Task Force (FATF) and ini-
tiatives by affiliated bodies,
which resulted in the then-
FNM administration over-
hauling the industry’s regula-
tory regime with 11 pieces of
legislation.

With no “impending crisis”
threatening Bahamian finan-
cial services, Mr Moree said:
“The dust has settled.”

The Bahamas had upgraded
its legislation “in a major way”,
had developed a plethora of
new, tax-compliant products,
and shown a high degree of
professionalism, integrity and
efficiency in the sector’s oper-
ations.

However, while the
Bahamas had lost no major
business to its international
financial services competitors,
Mr Moree acknowledged that

Legal Notice

NOTICE

THE CHANDELIER CO. LTD.

(In Voluntary Liquidation)

Notice is hereby given that in the above-named
Company is in dissolution, which commenced on
the 11th day of January 2007. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau, Bahamas.

(Liquidator),

Innovative Offshore Bank is
presen tly looking fora

back-office

Bank & Trust

administrator

The successful applicant must
m= have several years of private banking background

m be computer literate

We require knowledge and experience with

= Securities
m Corporate Actions

= Foreign exchange transactions
= Payments and transfers

m Accounting
mw Reconciliations



‘Team player with pleasant personality. Must be able to
work independently with minimal supervision.
Series 7 certification is an asset.

We offer

m a salary which is commensurate with the job,

a pension plan and medical insurance

Private Banking
) OYSTER Funds
Alternative Investments

Bis

Pricing Information As Of:

























Abaco Markets

12.05 10.25 Bahamas Property Fund
8.03 6.90 Bank of Bahamas
0.85 0.70. Benchmark
1.80 1.26 Bahamas Waste
1.49 1.10 Fidelity Bank
10.00 9.05 Cable Bahamas
2.20 1.64 Colina Holdings
12.65 9.05 Commonwealth Bank
6.26 4.12 Consolidated Water BDRs
2.88 2.40 Doctor's Hospital
46.21 5.54 Famguard
12.25 10.70 Finco
14.45 10.90 FirstCaribbean
12.55 10.00 Focol
1.15 0.50 Freeport Concrete
10.20 7.15 ICD Utilities

J. S. Johnson



42.25 Bahamas Supermarkets
410.00 Caribbean Crossings (Pref)
20 RND Holdings



28.00 ABDAB .
14.00 Bahamas Supermarkets
Ho










1.322791"
2.9728***
2.500211**
1.217450****
11.3075*****

Colina Money Market Fund

Fidelity Bahamas G & | Fund

Colina MSI Preferred Fund

Colina Bond Fund
ea F \

2.6262

me Fund



Please send your resume and one (1) letter of
SYZ & CO BANK & TRUST am Attention Betsy
P. O. Box N-1089 m Bayside Executive Park m Wi
Nassau - Bahamas m Fax : 327-6629



Daily Vol.

reference to

EPS $

Morris(betsy.morris@syzbank.com)
est Bay Street & Blake Road






cc

“Yield


















HARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for dally volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month earings



MARKET TERMS.



Bid $ - Buying price of Colina and Fidellty
Ask $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - Acompany's reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful

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



by

NAV KEY
* - 5 January 2007
** - 31 December 2006
*** - 31 December 2006

**** 31 December 2006





the industry had not enjoyed
real growth since 2000.

“It cannot be disputed that
there has been no significant
growth in this sector over these
last few years,” Mr Moree said.
“I don’t think we’ve lost busi-
ness. The sector has been hold-
ing its own.

“There have been areas of
modest growth over the past
five years. We’ve held our own
in private wealth management,
but have not done very well in
the funds business.”

To develop and implement
the strategies that could
achieve this growth rate,’ and
convince the Government to
direct resources to this effort,
Mr Moree said the financial
service’s industry’s importance
had to first be marketed to the
Bahamian people.

“We have to convince the
average Bahamian citizen that
he or she has a stake in the
expansion and continued
development of the financial
services industry,” the Forum
chairman explained, “and that
the benefits from a successful
industry are not restricted to
an elite club, but are actually
going to filter down to every

level of our economy where |

we can all benefit.

“It is only when the average
Bahamian truly believes he has
a stake in this industry that it
will be possible for our political
leaders to commit the kind of
resources, and adopt the kind
of policies, I’m advocating
here. There have got to be
benefits that trickle down to







Citizenship, P.O.Box N-

NOTICE

NOTICE is hereby given that MYRLINDA MILFORT OF
MINNIE STREET, NASSAU, BAHAMAS is applying to
‘the Minister responsible for Nationality and Citizenship,
for registration/naturalization
Bahamas, and that any person who knows any reason
why registration/ naturalization should not be granted,
should send a written and signed statement of the facts
within twenty-eight days from the 16th day of January,
2007 to the Minister responsible
7147,



the average Bahamian. They
will see their quality of life
linked to the continued suc-
cess and growth of financial ©
services, as it is with tourism.
We don’t have to be directly
employed in the financial ser-
vices industry itself to benefit
from its success.”

Mr Moree said the percep-
tion held by many Bahamians -
that the financial services
industry benefited only the 4-
5,000 people directly employed
by it, plus related professionals
such as attorneys and accoun-
tants - had to be dispelled if
this nation was to maximise
the industry’s benefits.

The economic ‘trickle down’
effect of spending by these pro-
fessionals, he added, had to be
emphasised.

“It cannot be overlooked
that the financial services sec-
tor pays some of the highest
salaries in the country,” Mr
Moree said. “This not only
benefits people employed in
the sector, but it benefits a host
of ancillary professionals and
jobs.

“These people have more
money to spend in terms of the
services they are accessing.”

Once the Bahamian people
had become better informed
on how the financial services
industry impacted them, Mr
Moree said the Government
and private sector could turn
their attention to “interna-
tional marketing”, positioning
the industry to attract new
business and developing its
‘brand’ identity.



as a citizen of The

for Nationality and
Nassau, Bahamas.




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THE TRIBUNE




19-year-old
faces charge
of unlawful
intercourse

A 19-YEAR-OLD of Cur-
tis, Exuma was arraigned in
magistrate's court yesterday
accused of having unlawful
intercourse with a girl aged
13.

Court dockets state that
Lavado Rolle, between
Thursday, January 11 and
Friday, January 12, had
unlawful intercourse with a
13-year-old.

Rolle, who appeared in
Court Five, Bank Lane, was
not required to plead to the
charge and was granted bail
in the sum of $10,000. The
case was adjourned to April
17.

Reminder
over revised
fisheries
regulations

THE Department of

Marine Resources is remind-
ing the public that several
amendments to the regula-
tions governing sportsfishing
came into force on January 1.

The amendments to Regu-
lation 48 of the Fisheries
Regulations limit the amount
of marine life which can
legally be harvested by for-
eign boaters visiting the
Bahamas.

The regulations now spec-
ify that the maximum ‘migra-
tory fishery rescurce’ catch
is six kingfish, dolphin, tuna
or wahoo per vessel, six craw-
fish, and 20lb of demersal
fishery resources (groupers,
snappers, etc).

They also forbid the tak-
ing of any conch or turtle.

In addition the regulations
forbid the use of more than
six rods or reels on a vessel
without a permit, and the use

Se hae fish traps and nets
other than a landing net.

The rules also apply to
Bahamian vessels “engaged
in fishing for purposes other
than commercial by persons
who are not Bahamians”.

They add: “No vessel shall
have on board any fish unless
its head and tail is intact.”

“The government, in an
effort to ensure the contin?
ued sustainability of local
conch stocks, has decided to
prohibit the harvesting of the
species by foreign boaters,” a
department spokesman
added.






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â„¢@ By BRENT DEAN

THE Bahamas Association
for the Physically Disabled on
Dolphin Drive was robbed over
the weekend — for the fifth time
in six months.

When employees of the cen-
tre returned to work on Mon-
day morning, they found the
front door broken open.

Bandits had entered and
stolen a washing machine, bed
linens and most of the groceries
used to feed the 23 disabled
children who receive care there.

The thieves went as far as
uprooting and stealing eight
plants that were recently laid in
preparation for a new play-
ground being developed next
to the centre.

The repeated robberies have
lead to an atmosphere of fear
for the safety of the children
and the staff, according to Ms
Penn, a caregiver at the centre.

“It is very discouraging
because you are not sure how
safe it is anymore. You don’t
know when somebody could
pop-up and attack again,” she
said.

During previous robberies
computers, fax machines and
wheelchairs were stolen.

According to Linda Smith,
administrator at the centre, the
thieves attempted to gain entry
to the building last Thursday
through a side door. This
attempt, however; was unsuc-

LOCAL NEWS



So

@ SHELVES are left almost empt



SS

y after a burglary at the

Bahamas Association for the Physically Disabled

cessful — as the door was recent-
ly reinforced with a steel frame.

Funding

The centre receives 25 to 30
per cent of its funding from the
government. The additional
funding for the operational bud-
get, which fluctuates between
$85,000 and $100,000, comes

(Photos: Tim Clarke)

from private donations, accord-
ing to.Ms Smith.

In response to the repeated
robberies, the centre is attempt-
ing to add additional security
features.

Ms Smith stated: “Right now, .

we are just engaging the ser-
vices of an alarm company so
that we can secure the building.
Because on previous times, we
did with steel doors and all of



Union takes Baha
Labour Board over

By KRYSTEL ROLLE

AFTER 12 months of “failed
negotiations” the members of
the Bahamas Hotel Managerial
Association are taking their
struggle with Baha Mar to the
Labour Board.

Claiming that the corporation
has breached its contract with
the workers, leader Obie Fer-
guson promised that the union
would intensify efforts to ensure
that the situation is remedied
immediately.

“These workers have not got-
ten an increase since 1996, some
11 years ago,” Mr Ferguson
said, adding that on December
16, without consultation, the
company arbitrarily breached
the contract by paying one
week’s bonus instead of two.

Demonstrating across the
road from the Radisson Hotel
yesterday, under the watchful












- YOUR LOCAL MEMBER OF THE-

PROCHEM SYSTEM (sm)

eyes of several police officers,
the union, which represents
workers at the Radisson and
Wyndham hotels, peacefully
protested against the “mis-
treatment” of its members.
Since 1996, the employees
have been receiving a two-week
Christmas bonus on or before
December 15 each year, as
agreed under,their contract. ,.

Dispute

Mr Ferguson said a new con-
tract that was signed “made no
reference to profitability, as it
was known to all and sundry
that the corporation was not
making a profit, and so it would
have been nonsensical to make
profitability a term of the con-
tract upon which the two weeks
is based for the workers.”

Additionally, the union pres-

ident that since the workers last ,

got a raise, the cost of living has
quadrupled.

Despite attempts to negoti-
ate a better deal with the cor-
poration, Mr Ferguson said,
nothing has changed, and “no
consideration has been given to

contract

these workers.”
After being “provoked”, the
union leader said, the union

decided to take the issue to the.

Labour Board in an effort to
bring the matter to a close.

Continuing his list of con-
cerns, Mr Ferguson said, “We
understand that 150 workers
are scheduled to be laid off
shortly.”

Warning executives that
repercussions would result if
this rumour proves to be true,
he said that any action the
union takes could have “unin-
tended consequences on labour
relations in our country.”

“There could be no true
development without the peo-
ple, so while we welcome
investors to our shores and pro-
vide them with the most pro-
ductive workers in the region
we have a legal and moral
responsibility to protect the
workers of this country from
this kind of behavior and con-
duct displayed by hotel execu-
tives,” he said. ;

The Tribune attempted to
contact the relevant Baha Mar
official, but calls were not
returned up to press time.



TUESDAY, JANUARY 16, 2007, PAGE 3

Disabled centre stripped bare
in fifth burglary in six months












@ THE burglars left several boxes of groceries and household
items outside the association premises — presumably with the
intention of returning for the goods later

that, but to no avail. So, we
have to move further.”

Police press liaison officer
Walter Evans, said that he
would have to make further
inquires before commenting

on the situation.

As a result of the robberies,
the most disadvantaged group
of individuals at the centre are
inhibited from learning and
being cared for, Ms Smith said.

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a



Volleyball’s Jann Mortimer

@ By BRENT STUBBS
Senior Sports Reporter

AFTER a ten-year battle
with lupus, versatile
player/coach Jann Mortimer
died yesterday at Princess
Margaret Hospital, at age 50.

In December, Mortimer
teamed up with her sister, Dr,
Sophia Rolle, to lead the First
Caribbean Bank Diggers to a
play-off appearance in ladies
division of the New Provi-
dence Volleyball Association,

Some of her team-mates
converged around her bedside
to pay their respects to the
woman they described as a
“fighter, mentor, motivator
and loyal friend,”

For Dr. Sophia Rolle, her -

sister “fought a very good fight
for the past ten years with
lupus. She always remained
positive that she would get
beyond the critical stage.

“So I would like to remem-
ber that about her - that she
never felt sorry. about herself,
She always felt that this too
should pass because anytime

she ‘had-a dialysis treatment, -

she got through it with pain,
but not to the point where it
overtook her and she was able
to function 3-4 hours after
that,”

Remembered as the “best
centre and blocker” the
Bahamas and indeed the
Caribbean has ever seen dur-
ing her era from the 1970s to
the 1990s, Mortimer passed
away around 1:50 p.m.

Some of her peers, who
were there from her early
playing days, to youngsters,

_ Who she later groomed as a

coach, showed up at the hos-
pital to show their respect for
Mortimer, who also excelled
at the national and interna-

‘tional level in basketball and

netball.

Cora Hepburn, who played
with and was coached by Mor-
timer, said the she was a “pillar
of strength. I’ve never seen
someone who was so strong
over the past ten years with



defeat the Sharks

@ BASKETBALL
By KELSIE JOHNSON

Junior Sports Reporter

her illness,

“Today is like deja vu for
mie because Jann is my-second
volleyball friend who has died
from lupus. I lost Tangy about
ten years ago and now Jann
has passed, so it’s very rough
for me.” ‘

For veteran setter, Jennifer
Isaacs, who set many passes
that Mortimer put away with
the kill, it was a shocker
because “we just came out of
the volleyball championship
and Jann was there as our
coach, so full of tife.

“When we visited her yes-
terday (Sunday), she was okay.
So when I got a call at COB, it
was really a shock because it
was not what we expected.”

Isaacs said Mortimer will be
remembered as a person who
was “full of life, who loved her
family and her friends”.

“Jann was one of the best

volleyball players this country
has ever seen, one of the best
centers and to me the best
blocker we have ever seen,”

players on the court by substituting,
the team found themselves in trou-
ble midway in the first half.



IT WAS a feast for the HO Nash
Lions junior girls team yesterday, as
‘they took a bite out of the SC

~ McPherson Sharks.

The Lions, who had to play with-
out several key players, pulled off a
come-from-behind victory over the
Sharks, with a final score of 16-12.

The team learned at the start of
the game that two of their starting
players, who also contributed sig-
nificantly to the Lions’ Father Mar-
cian Peters tournament crowning,

were ineligible to play.

With only nine players showing
up to the game and two having to
sit-out, head coach Patricia Johnson
was left with only two substitutes.

The first half adjustment was hard
for the Lions, as the team picked up
two quick personal fouls. Although
Johnson tried to mix up the blend of

their free throws.

outside.

we got the win.



Now over the foul limit, every foul
committed by the Lions placed the
Sharks on the free throw line. But
this would play out in the Lions’
favour, as the Sharks missed out

Faced with foul trouble and down
by three in the first half the Lions
avoided attacking the basket, opt-
ing to take the quick shot from the

Coach Johnson said: “There is so
much more things we have to work
on. I don’t know where to begin,
But I must admit that one good
thing did come out of today’s game,

“The win is a good thing, but I
must be honest, I am not pleased
with the way the girls played. The
rushed every one of their shots, we

SEE page 8E

@ THE HO Nash Lions (in blue) in action against the SC McPherson Sharks.
(Photo: Tim Clarke)

she said. “Jann was always
there.” ie

Veteran power hitter Jackie
Conyers said Mortimer was a
“role model, she was a great
athlete, a friend and she was
one of our heroes. She will def-
initely be missed.

“She was a very affection-
ate, loving person, who truly
loved the sport of volleyball.
She is truly a great person to
remember, She was one of
those persons who taught me
the game, she had a passion
to win and she has instilled
many principles that have
helped me.”

DeVince Smith, who started
coaching under Mortimer
around 1995, remembered her
as a “competitor, so coaching
and watching her was always a
pleasure”.

“She always had that win-
ning spirit and she knew when
her team was in a situation to
rally her players and just dig
them out of the hole. She was
always cheerful and it was a

Li





pleasure watching her execute’

in the middle, Her goal was
just to win,”

Mary ‘Cruise’ Edgecombe,
who follows in Mortimer’s
footsteps as one of the coun-
try’s most versatile players,
said her “mentor” was a
“motivator”.

“Jann has always been a
mentor of mine, especially in
volleyball. She has been a
motivator and I remember her
she tell me things that I was
doing wrong that a lot of
coaches are not doing now,”
she reflected.

“T always loved to see her
play because. she was sojawe-
some up the middle. You
always wanted to be like her
because she was the best. She
was good at it and she always
told me that you have to love
what you do, She encouraged
me to play hard because she
said I always reminded her of
me.”

And Jeannie Minus, another

_ player who was exposed to



Mortimer’s coaching, listed. her
as a “true warridr, who I knew
practically all my life”.

“I remembered when we
were at St Augustine’s College
(in Realign, North Carolina)
and we shared a few moments
there,” Minus said. “Jann real-
ly fought a good fight, but I’m
happy that she’s out of her suf-
fering. But we will remember
her as a true ambassador of
this country.”

Mortimer started playing
sports around 1970 at the AF
Adderley High School and lat-
er Aquinas College. She then
played for St. Augustine’s Col-
lege in North Carolina.

The Tribune Sports Depart-
ment, including sports reporter
Kelsie Johnson and news

reporter Krystal Rolle, extend -

condolences to her family.

She is survived by her moth-
er, Sally, and siblings, including
Drs Bridgette and Sophia, Ida,
Deborah, Pauline and There-
sa, Cornell, Lester Jr, Kelsey
and Kevin.

dies after battle with illness

@ GRIEVING members of
the volleyball fraternity pic-
tured after the death of Jann
Mortimer (pictured below).
From left are Cora Hepburn,
Jean Minus, Jackie Conyers,
Krystel Rolle, Kelsie Johnson,
Jennifer Isaacs, Margaret

Albury, DeVince Smith and’

Dr. Sophia Rolle.
(Photo: Tim Clarke)


























TRIBUNE SPORTS

~ PAGE 2E, TUESDAY, JANUARY 16, 2007 |



help to give their
universities the edge

i SWIMMING
By KELSIE JOHNSON
Junior Sports Reporter

NIKITA DEVEAUX and
Alana Dillette were successful
in giving their universities the
edge in their weekend dual
meets, but they are still looking
to qualify for the NCAA Swim-
ming and Diving champi-
onships,

Deveaux competes for the
University of Kentucky while
Dillette represents Auburn
University,

The number three ranked
Auburn Tigers took on Texas
University, which is ranked
number one in men and 12 in
women, over the weekend,

Dillette competed for the -

Tigers’ C team in the 400m
medley relay, the B team in the
200m freestyle relay, and the
wornen’s 100m freestyle,

Her first event was the 400m
medley relay, a team which
includes Abby MacGregor,
Blakeley Bunch, Kara Nelson,
and she clocked 3:50.68 seconds
for fifth place. The winning
team was turned in by the
Tigers’ A squad, with a time of
3:41.42 seconds,

The NCAA national quali-








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fying time was set at 3:38.02
seconds for the A standards
and 3:44.56 seconds for the B
standards,

Dilleite Hnished filth in the
100m freestyle, just missing out
on the event’s B qualifying time
for the NCAA championships.
Her time was recorded at 52,10
seconds, Qualifying times in the
event came from Dillette’s
tcammates Emily Kukors, Kara

“Denby and Texas representa-

tive Connie Brown,
Freestyle

In the 200m freestyle relay,
Dillette’s team would settle for
third place in 1:34.99 seconds,
There were no qualification
times in this event,

The Bahamas’ Olympian
Deveaux had to quickly
regroup in the dual meet
against nationally ranked
Alabama after finding out that
her squad missed out on the B
qualification time in the 200m
medley relay,

Deveaux, who competes for
the University of Kentucky
anchored the college's B squad
toa fourth place finishing ina
time of 1:48.47 seconds,

idai Tucson

She would have to settle for
tifth in the 50m freestyle
recording a final time of 24,68
seconds, The qualifying time
was set at 22,75 seconds for the
A standard and 23.43 seconds
for the B standards.

The day wasn’t over for
Deveaux, who was given just
seconds to recuperate, She
moved from the 50m freestyle
to the 100m freestyle where she
wound up in the fifth spot once
again, This time was recorded
at 53,49 seconds, the winning
time was clocked at 50.68 sec-
onds and performed by Jenny
Bradford of Alabama,

Deveaux’s final event on the
day was the 400m Ireestyle
relay, in which she anchored
the A squad, The team would
finish fourth in 3:31,38 seconds,

This coming weekend
Deveaux will look to break the
bad streak by qualifying for the
NCAA championships, which
are set for March 8th, She could
also use the SEC Swimming
Championships to qualify.
These championships are set
for February 7(h-L0th in Lex-
ington, Kentucky,

This is also the case for Dil-
lette who competes in the SEC

conference.

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@ ANDRETTI BAIN
lowered his own mark as he
three-peated as champion at
the weekend.

(FILE Photo)







Andretti.

Bain beats |



@ TRACK AND FIELD
By BRENT STUBBS

Senior Sports Reporter __

A YEAR ago, Andretti Bain
shattered Missouri Invitational
indoor men’s 400 metre meet
record that stood for 20 years,
Over the weekend, he lowered
the mark as he three-peated as
champion,

Competing at the 21st ver-
sion of the meet on Friday at
Hearnes Fieldhouse in Colom-
bia, Missouri, Bain was one of

eight Oral Roberts University’s

Golden Eagles athletes to claim
individual titles,

His winning time of 48,20 sec-
onds surpassed his meet record
of 48,48 as he won over his
Golden. Eagles’ team-mate
Johnathan Rivers, who ran
48.64 for second, The original
record was 48,60,

Track

“T didn’t really want to run
the 400 because I told my coach
that the track was so tight,” said
Bain, who had to come from
behind for the victory in the
final 150. ;

“But he told me that I ran
there last year and it would be
right to test myself to see where
I’m at right now, It turned out
well, even though it was real
cold, It was a nice opener for
me,”

Bain also ran the lead off leg
on the Golden Eagles’ victori-
ous 4 x 400 relay team of
Johnathan Rivers, Kevin Cave
and Tavarus Roberts that ran
3:16.16 ahead of Lincoln Uni-
versity and Drake.

The 5-foot-8 sophomore said




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Street « 266-7932

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is recor

after taking it easy over the

‘Christmas break, he was

delighted to get his feet wet for
what is anticipated to be anoth-
er hectic season,

“Taking the rest that I did’
over the (Christmas) break and
still coming out and running
faster than I did last year is a
real confidence builder going
into the Arkansas meet next
week,” Bain reflected,

As the indoor season pro-
gresses, Bain is expected to be
kept busy through March. He
will be back in action this week-
end at the Razorback Invita-
tional,

Then, at the end of the

teens es DOUPUTUERP EU EREEP EEDA E TROT PEC EE AP EDIE PECTUDERT EPPO EOE SE TERT ETE



month, he will be competing at
the Adidas Classic, That will be
followed by the JD Martin Invi-
tational on February 3.

Bain said he’s just looking
forward to running faster and
faster as he competes meet after
meet and eventually to qualify
for the NCAA Outdoor Cham-*
pionships at the end of March
before he heads outdoors.

As for the outdoor season,
Bain said the NCAA Champi-
onships is one of his goals. But
the main focus will be qualifying
for the Bahamas team heading
to the IAAF World Outdoor
Championships in Osaka, Japan
in August,

Veereenereeererenetoegsererneereenenereererr yee yr en ee

Bahamian players in
ITF’s Central American
and Caribbean team

m@ TENNIS
By BRENT STUBBS

Senior Sports Reporter a

THE Bahamas Lawn Tennis Association’s junior programme has
another feather in its cap with three players traveling on the Inter-
national Tennis Federation’s Central American and Caribbean

team.

Kerrie Cartwright, along with Grand Bahamians Rodney Carey
and Katolina Klonaris are in Cali, Colombia, competing at the
Copa Indervalle, the first of four tournaments on the junior COSAT

2007 circuit.

They are a part of the team that comprises the ITF Development
Programme that is being financed by the ITF and the Grand Slam

Development Fund.

First vice president Paula Whitfield said the BLTA is quite
pleased with the fact that they have three players represented on the

team,

“I don’t know if any other country has three players on the
team,” Whitfield stressed. “Usually they select one or two players,
but we got three spots this year, So that is significant for our pro-

gramme,”

Both Carey and Cartwright earned computer points on the
junior list, but Klonaris, who attends the Guizar Tennis Academy,

does not have any.

Carey, who is in his second year at Bill Adams Tennis Academy
in Florida, is ranked at 655 in the boys division. Kerrie, a member
of the Guizar Tennis Academy and student of the International
Christian Academy online, is 1058 in the girls,

Anthony Jeremiah from Trinidad & Tobago, Ivan Molina from
Colombia and Rolando Martinez Breijo from Cuba are the coach-

es.

The trio will play in Cali from January 15-21, then they will
head to Guayaquil, Ecuador from January 22-28 for the Guayaquil
Bowl. From there they will go to Lima, Peru for the Tomeo Inter-
national from January 29 to February 4 and they will wrap up the
trip in Cochabamba, Bolivia from February 5-11 where they will
play in the Condor Plata Tournament,

Players who perform well in the regional tournaments will be
invited to join an international touring team, Last year, 20 ITF tour-
ing teams, involving 165 players from 78 different countries, par-

ticipated,



THE TRIBUNE ~

TUESDAY, JANUARY 16, 2007, PAGE 9B



Mii a a i
Exploit tourism,

financial synergies
‘more effectively’

FROM page 1B

Hughes, said that to exploit the
links between the two sectors,
there would have to be “a
much closer relationship
between the Ministry of
Tourism, Ministry of Financial
Services and Investments, and
the Ministry of Finance.
“I really believe you would
have to have some cross-min-
isterial authority, particularly
between these three industries,
to fully exploit these syner-
gies.”

Mr Moree said that the
financial services industry’s
presence in the Bahamas, and
this nation’s established repu-
tation for private wealth man-
agement, especially in bank-
ing, trusts, estate planning and
asset protection, frequently
attracted high net worth clients
to this country.

He added that this “feeds
right into the second home
market”, as high net worth
individuals often purchased
real estate in the Bahamas,
benefiting the real estate sector
and the wider Bahamian econ-
omy. :

In addition, senior business
executives from large multina-
tionals frequently held meet-
ings, conferences and seminars
in the Bahamas, staying at
hotels and spending large sums
of money in the Bahamian
economy.

“In order to serve our core
products, with regard to pri-
vate banking and wealth man-

Royal Island (Bahamas) Limited

agement, clearly we need to be
able to find synergies between
tourism and financial services,
and there are many,” Mr
Moree said.

“I think there are very real
synergies between the two
industries, and I think we could
exploit them much more effec-
tively.” .

Apart from second homes
and the other benefits to
tourism, financial services can
also attract high net worth indi-
viduals - billionaires and mil-
lionaires - to domicile them-
selves in the Bahamas perma-
nently, becoming permanent
residents.

This paves the way for them
to establish family offices in
the Bahamas, employing a
wide range of Bahamian pro-
fessionals to manage their
assets and itineraries, which in
turn boosts a variety of other
domestic industries.

In addition to following their
assets to the Bahamas, these
high net worth individuals and
families would also be likely
to employ Bahamian private
trust companies, foundations,
purpose trusts and Interna-
tional Business Companies
(IBCs) to hold, manage and
best structure these funds.

Mr Moree said the Bahamas
had to focus more on market-
ing structures as opposed to its
products. In this way, the

Bahamian financial services .

industry would “become more
adroit and focused on cross-
fertilisation within the sector”.

Clients in different geo-
graphical regions, the Forum
chairman added, needed dif-
ferent investment and wealth

management structures to
meet their needs, whether it
be tax minimisation, estate
planning or asset protection.

“We need to identify the
needs of these markets,” Mr
Moree said. “We can then go
to these markets, having edu-
cated ourselves about what
their needs are.

“We need to tailor them
[structures] to the specific
opportunities available. We
need to segment our markets
and better understand the
needs of the market. We need
to come up with solutions and
structures that are perfectly
legal and legitimate in their
jurisdictions, and provide them
with whatever benefits they are
seeking.

“Through these ideas, we
will begin to take our jurisdic-
tion to a different level.”

To position and promote the
Bahamian financial services
industry for future growth, Mr
Moree said it would require “a
greater amount of rationalisa-
tion and cohesion” of existing

resources, together with a
strategic plan, rather than
more money, to achieve the
correct results.

“It’s been suggested by a
number of people over the last
several years that we could bet-
ter utilise our tourism offices
throughout the world and our
diplomatic offices,” Mr Moree
said.

“There’s also no reason why
we could not use these facilities
as a means of monitoring activ-
ities in competing jurisdictions
and reporting back, and mar-
keting our financial services
industry in these countries.”

Aggressive marketing and
branding, Mr Moree said, had
enabled relatively new players
such as Singapore, Hong Kong
and Dubai to gain market
share in financial services.

The business, he added, was
becoming more competitive as
a result, with more. sophisti-
cated and demanding clients,
requiring the Bahamas to
increase its service and pro-
ductivity levels to match them.

ES ag
Tribune - the #1 newspaper |

TST eT CES |
ee)



Royal Island (Bahamas) Limited
















INVITATION FOR EMPLOYMENT

Royal Island (Bahamas) Limited, the developers
of the Royal Island resort and residential project,
an ultra-luxury resort and private club residential
community with private residences and club, 200
slip marina and boutique hotel and spa, and a golf
course just off North Eleuthera invites suitably
qualified individuals to apply for the following
position with the company:

BOAT CAPTAIN

Duties and Responsibilities

° Manage fleet of boats and related equipment.
¢ Coordinate and manage maintenance of boats
* Coordinate all water sport activities.

e Snorkeling

e Diving

¢ Flats and Deep Sea fishing
¢ Manage Staff of First Mates.
° Coordinate Safety of all boat patrons,

¢ Qualifications: The ideal candidate will have to
reside on Eleuthera or its surrounding area and
have a minimum of 10 years experience as a boat
captain. Must be familiar with the local waters
and the area around Royal Island. Must have
strong managerial and organizational skills in the

- areas of personnel and boat operations. Must be
computer literate with strong written and verbal
communication skills.

Interested persons should submit their resumes
with cover letter to:

The H.R. Director
GCM
P.O.Box N 1991
Nassau Bahamas
Fax to: (242) 356-4125
Or Email to: info@ gomezcorp.com

Royal Island (Bahamas) Limited thanks all

applicants for their interest, however only those

under consideration will be contacted.



INVITATION FOR EMPLOYMENT

Royal Island (Bahamas) Limited, the developers of
the Royal Island resort and residential project, an
ultra-luxury resort and private club residential community
with private residences and club, 200 slip marina and
boutique hotel and spa, and a golf course just off North
Eleuthera is seeking to employ a Married Couple with strong
managerial, operational and organizational skills in
managing resort properties to oversee all day to day
operations on the island.

Duties and Responsibilities

e Greeting potential members/buyers/investors

e Arranging transportation, including airport, transfers, boats
and on -island vehicles

¢ Responsible for setting up guest relations, all staff training,
motivation and recruitment

° Manage local accommodations

¢ Upkeep of boat fleet

¢ Manage/coordinate all ocean/beach activities

¢ Manage guest inquiries and complaints in an efficient and
professional manner

° Once the Preview Village is completed this position will:

° Oversee operations

¢ Maid Service

¢ Food/beverage

° Beach activities

* Ocean activities

¢ General maintenance upkeep of premises
° Manage fitness/spa activities

e Assist in sales process

* Qualifications: The ideal candidate must have a minimum
of 10 years experience in resort property management with
significant experience in the restaurant and spa industry,
including operations and maintenance of pool and spa
equipment. Must have strong managerial and organizational
skills in the areas of personnel and bugeting. Must be computer
literate with strong written and verbal communication skills.

Interested persons should submit their resumes with cover
letter to:

The H.R. Director

GCM
P.O.Box N 1991
Nassau Bahamas
Fax to: (242) 356-4125
Or Email to: info@ gomezcorp.com

Royal Island (Bahamas) Limited thanks all applicants for
their interest, however only those under consideration will
be contacted.




Royal Island (Bahamas) Limited
INVITATION FOR EMPLOYMENT




























Royal Island (Bahamas) Limited, the developers
of the Royal Island resort and residential project,
an ultra-luxury resort and private club residential
community with private residences and club, 200
slip marina and boutique hotel and spa, and a golf
course just off North Eleuthera invites suitably
qualified individuals to apply for the following
position with the company:

CHEF
Duties and Responsibilities

° Coordinate and manage multiple food venues.

¢ Coordinate and manage all food preparation
areas.

¢ Budgeting and purchasing of food supplies.

¢ Planning of meals for all food venues.

° Qualifications: The ideal candidate will haye fo
reside on Eleuthera or its surrounding area and
have a minimum of 10 years experience a four (4)
star restaurant cuisine and dining with significant
experience in the food industry. Must have experi-
ence in start up restuarant operation. Must have
strong managerial and organizational skills in the
areas of personnel and budgeting. Must be —
computer literate with strong written and verbal
communication skills.




Interested persons should submit their resumes
with cover letter to:

The H.R. Director
GCM
P.O.Box N 1991
Nassau Bahamas



Fax to: (242) 356-4125
Or Email to: info@ gomezcorp.com

Royal Island,(Bahamas) Limited thanks all
applicants for-their interest, however only those
~-under consideration will be contacted.

Royal Island (Bahamas) Limited

INVITATION FOR
EMPLOYMENT

Royal Island (Bahamas) Limited, the developers
of the Royal Island resort and residential project,
an ultra-luxury resort and private club residential
community with private residences and club, 200
slip marina and boutique hotel and spa, and a golf
course just off North Eleuthera invites suitably
qualified individuals to apply for the following
position with the company:

e Director of Design

¢ Exterior Relations

e Project Managers

e Project Engineers

¢ Genaral Superintendents

e Superintendents

e Assistant Superintendents

e Electrical Construction Managers
e Mechanical Construction Managers
e Office Engineers

¢ Manager of Quality Control

e Inspectors

Over 20 postions are to filled. All positions
require successful applicants to reside at North
Eleuthera or vicinity.

Interested persons should submit their resumes
with cover letter to:

The H.R. Director
GCM
P.O.Box N 1991
Nassau Bahamas

Fax to: (242) 356-4125

Or Email to: info@gomezcorp.com

Royal Iskand (Bahamas) Limited thanks all
applicants for their interest, however only those
under consideration will be contacted.





PAGE 10B, TUESDAY, JANUARY 16, 2007 THE TRIBUNE BUSINESS

Freeport Concrete Company Limited

Statement of Operations

Financial Statements of

Freeport Concrete Company Limited Year ended August 31, 2006, with corresponding figures for 2005



(Expressed in Bahamian dollars)
Year ended August 31, 2006 0 OO OMSSTS:*:=C:st‘Cs:S™:sS:S~SOS Note 3006 3005
Sales, net of discounts 7 BS 16,061,732 22,625,063
Cost of sales 6&8 12,984,405 17,028,578
Gross profit 3,077,327 5,596,485



INDEPENDENT AUDITORS’ REPORT

Jo the Shareholders.

Freeport Concrete Company Limited ; 3,119,925 8,097,688
Operating expenses:
; Payroll related costs, including employee
\We have audited the accompanying financial statements of Freeport Concrete Company: benefits and commissions 7 2,090,021 3,249,728
Limited (the Company’) which Fe hey ' Tat geek 24 OH Bae Rent 7&14 634,782 506,206
ta (the Company”). which comprise the balance sheet as at August 34; 2008 and
the statement of operations, statement of changes in shareholders’ ity and. stat f peugeot ospele : oe Ae ea!
3 rent of p i 1, Ste mee Q ranges ins oidiers: equi yang staenien Depreciation and.amortisation 8 329,011 284,165
of cash flaws for the year then ended. and a summary of significant accounting policies Legal and professional 323,712 170,064
and other explanatory notes . Utilities, postage and delivery 279,096 296,570
Vehicle, maintenance and repairs 228,795 249,479
1 FR Poseconpr init a ik pin hace oe fe a Other operating costs 7 202,878 300,597
Management's Responsibility for the Financial Statements Computer and office supplies © 138,531 140,535
; Bank charges and exchange 115,823 294,218
Management is responsible for the. preparation and fair presentation of thesé Bnancial Interest on long-term debt and
statements in accordance with International Financial Reporting Standards: This due to shareholder 7,961 77,764 53,603
: Ses a lost Lana bn een aaaoke aueuprpanaheaepmeaun seciegen gingioge nates mses gs Interest expense on bank overdraft 9 76,344 56,207
responsibility includes: designing, implementing and maintaining internal contra!’ relevant Business insurance 73,238 . 74,448
to the preparation and fair presentation of financial statements that are free from material Advertising : 66,942 232,297
misstatements, whether due fo fraud or ero selecting and applying appropriate Licence fees and permits _ (54,842 138,577
aeééunting (policies: and making accounting estimates thal aré reasonable in the Security 34,490 33,074
hens . omc “ eres Travel, trade shows and entertainment 33,349 49,291
" >. Donations 18,711 33,091
. Inventory damaged by hurricane 13 - 1,263,610
Auditors’ Responsibility Impairment of property,
plant and equipment 8 & 13 - 475,595
sagt we : . . Gain)/l di f ee
Our responsibility is to express an opintan on these financial statements based On our SER aot c aera eerie (666) 4,126
aud. We conducted our aude inaccordance with Intemational Standards on Auditing as 5,113,227 8,388,402
promulgated: by the international Federation of Accountants, Those standards require
that we comply with relevant ethical requirements and plan and perform the audit to Net loss B$ (1,993,302) (290,714
oblain reasonablé “Assurance whether the dimancial statements are. free. of material oe
misstatement, Basic loss per share 16 BS (0.423) (0.062)
Diluted loss per share 16 BS. (0.423) (0.062)

An audit involves perferrning procedures fo-ohtain audkt evidence ‘about the amounts and
checlosures im: the financial stetertetits. The precaduras selected dépend on our
judgment, including the assasement Of the risks of material fhisstatemant of the financial
statements, whether due to fraud or error, ia making those risk assessments, we
COnSIder FRSHAL Conte! relevaht fo he Company's preparation and far presentation of
the finencial statements in order fo design audit procedures that are appropriate in the
circumstances, but not fer thé purpose of expressitig an Opinian. on the eHectiveness af
the Company's tema! cantrol. An audit alsa includes evaluating fhe aporogriateness of
gocounting principles used and the reasonablenass. of accounting éstimates made by





maNagSsinent. as well as-evaluating the overall pres



8 of the financial statements.

Other income:

Other income 5 40,950 349,504
Interest income on time deposits 1,648 2,623
Insurance proceeds 13 - 1,476,737
Net gain on sale of subsidiary 12 - 620,179

Finance charges on trade receivables 52,160
2,501,203

42,598



See accompanying notes to financial! statements.

Freeport Concrete Company Limited
Statement of Changes in Shareholders’ Equity

Year ended August 31, 2006, with corresponding figures for 2005

(Expressed in Bahamian dollars)

Number of , Contributed Appraisal Accumulated _
defick

shares issued Share capital surplus excess

Total

_sharesissued __Share capital SS Ee

Balance at August 31, 2005 4,708,334 «BS 47,083 5,774,868 «1,433,867 —=«(3,094,802) 4,160,026

SRS Net loss 7 7 a roe (290,714) (280,714)
WAP oS TC ARE BAR —

Balance at August 31, 2006 4,708,334 B$ 47,083 5,774,868 1,433,867 (3,385,606) 3,870,212

S = 7 (1,993,302) (1,993,302)

We believe that the audit evidence we have oblsined is sufficient: and appropriate: to

Net loss -
provide @ Basis for aur spinion. ‘
Decree Giese Tor OME OR NSIOR 4,708,334 - BS __47,083 5,774,868 1,433,867 5,378,908) 1,876,910



Balance at August 31, 2006

" jarour opinion, the Shancial statements present fainy ib al material respects, the financial
position of the Company as at August $1, 2006, and! of its Rnancia) performance and its

cash flows for thé yar theb sndad in accordance with irternationat Financia! Reporting
Standards.

Enihasis of matter

Without qualifying aur opition, we dralv aitention t note 3: the financial statements





See accompanying notes to financial statements.

Freeport Concrete Company Limited

Statement of Cash Flows

Year ended August 31, 2006, with corresponding figures for 2005

(Expressed in Bahamian dollars)
2006 2005

nn ———

Cash flows from operating activities:

which describes thet the Company has incurred @ nat loss. of BST, 999,302 for the year Net loss B$ (1,993,302) (290,714)
ended August 31, 2006 and, as of that date, the Company's current llabilties exceeded its Adjustment for:
currant assets by BS1.069,.88& In addition, as described in notes 3 and 14 fe} asof Depreciation and amortisation 573,353 514,538
August 31, 2006 afd ae cf the date that these financial statetients were approved for Bad debt expense 335,544 482,921
issuance, the Company was not in compliance with various debt covenants in connection Provision for slow moving inventory 251,572 (201,495)
with the bank overivat and Sank loan facilities, privisrily relating to-certain financial ratios. Re ened Se inieon a = ee
The total amount of the bank overdraft and loan at August 31, 2006 was BS1.983,064. impairment of property, plant and equipment - "475,595
The Company hes not received writtan confirmation from fs bankers that they Wi agres, Product warranty ‘ : (10,809) aot:
to tolerate the breaches of debt covenants, and therefore an uncertainty axists a5 to what (Gain)/loss on disposal of property, plant and equipment_ (666) 4,126
' : Operating (loss)/profit before working capital changes (844,308) 1,628,402

action the Company's bankers will take, f any. Jn addition, as described in notes 3 and 14
{d}, the Company commenced an actiat in the Supreme Court of the Commonweatth of

Changes in working capital items:

The Bahamas against the Comptroller of Customs. for judicial review of The. Bahamas Accounts receivable ! (350,024) (524,037)
Customs Department demand for payment of duties of BS738,644 on all goods “oa Due from former subsidiary » 561,250 (578,500)
digplay’ in the new Superstore. and to prohibit the clearing of further goods by the eens subsidiary's shareholders (ers 088) (814 344)
: z . ‘ : ‘i en ‘i nv ‘orl , ,
Company from the Freeport Harbour pending payment of the same, An injunction was Inventory of spare parts and supplies , (29,044) ' (22,476)
abiainad against the Comptroller of Customs and leave was. obtained fo commence an Deposits and prepaid expenses (19,266) _ (35,728)
application for judicial review, The matter is set to be heard on February 12, 2007. The Accounts payable and accrued expenses 942,711 1,895,881
Company has not made ah Addrual ji ae finaAicial statements for the amount of duties imedepeslis, te ee a ee
‘ se Cash (used)/provided by operating activities (46,247) 1,554,198

claimed. Athough the Company's attorney is.of the opinion that the Campany has a good
@rquable case in obiaining the déclarations sought, the ultimate outcome. oF this matter



Cash flows from investing activities:





garnet piésently be determined, arid accordingly no provision for any effects on: the Cash disposed of on sale of subsidiary - (16,158)
Company that may result has. been made jn the Snaricial statements. These situations Additions to property, plant and equipment (974,105) (1,076,010)
indicaté the existence of material Ghoertainties whith cast significant doubt on the Seine of property, plant 11,188 6,000
Gompanyis abi saniintias: : a “sss seitiar _andequipment
alias i he i. i wee a 2 © ne Fence ae easy a may = SS Cash used by investing activities (962,917) (1,086, 168)

realise its aasets and wischargs #8 (abilities jy the normal course of business. The .

financial statements do not includs. adjustments, f any. that may be required fo the Cash flows from financing activities: '
yecorded vale and clagsificdtion of assets and abilities, in the event thé Coripariy is not Repayment of shareholder loan: 7 (440,272)
able t6. 4 See game poneet. ; , ; é Proceeds from long-term debt 100,000 530,000
BGI fo. eee a 8 QI COREE Repayment of long-term debt (169,848) (72,211)
KOE Cash (used)/provided by financing activities (69,848) 17,517
Chartered Accouniasts Net (decrease)/increase in cash and cash equivalents (1,079,012) 485,547
Cash and cash equivalents at beginning of year (201,159) . (686,706)

Freeport, Bahamas.
January 12, 2007

a
Cash and cash equivalents at end of year BS (1,280,171) (201,159)

Cash and cash equivalents comprise the following:

Freeport Concrete Company Limited









Balance Sheet
: Cash BS 198,471 107,747
: : i i i 11,626
August 31, 2006, with corresponding figures for 2005 Time deposits, less those pledged as security 13,274 : .
(Expressed in Bahamian dollars) : : Bank overdraft (4,491,916) _(320,532) a8 S20
Note 2006 2005 Ge eee ee ee
6 : See accompanying notes to financial statements.
Assets
Current assets: Freeport Concrete Company Limited
Cash : BS 198,471 107,747 Notes to Financial Statements
Time deposits 7 4 63,274 61,626
Accounts receivable, riet . 5 1,323,717 1,309,237 Year ended August 31, 2006
Due from former subsidiary - 12 17,250 578,500 (Expressed in Bahamian dollars)
Due from former subsidiary’s shareholders 12 7m - 571,500 ic
Inventories * 6 2,488,843 1,861,349
Inventory of spare parts and supplies 121,187 92,143 4. General information
Deposits and prepaid expenses 132,642 113,376 :
se ———_-845 384. «4,695,478 345,384 4,695,478 Freeport Concrete Company Limited (“the Company") is incorporated under the laws
ae ea, of the Commonwealth of The Bahamas and its shares are publicly held. Thé principal
Property, plant and equipment 8 3,387,232 2,997,002 activities of the Company consist of the production and sale of aggregate and ready- »

mixed concrete and the retail sale of hardware, appliances and other consumer
products. The Company operates two retail stores under the trade name, The Home
Centre, in Freeport, Grand Bahama. The principal place of business for the retail
operations is on West Atlantic Drive, Freeport, Grand Bahama and the ready-mixed
concrete operation is on Queen's Highway, Freeport, Grand Bahama.

AL

B$ 7,732,616 7,692,480

Liabilities and Shareholders’ Equity

Current liabilities: Up to August 31, 2005, the Company owned 90% of the outstanding shares of Robin
i Hood Enterprises Limited ("RH"), a company operating In New Providence,

Bank overdraft 9 BS 1,491,916 320,532







Bahamas. RH is in the business of purchasing and selling new and refurbished
Accounts payable and accrued expenses 10 3,734,627 2,791,916 "
Warranty provision 5,000 15,809 equipment er Effective August 31, 2005, the Company sold its entire
Current portion of long-term debt 7 & 11 183,710 177,788 -investment in Rr
5,415,253 3,306,045 The corresponding figures for the year ended August 31, 2005 in the statement of
operations and the statement of cash flows, include the results of RH up to August
Long-term debt 7&11 440,453 516,223 31, 2005. The corresponding figures in the balance sheet do not include the assets
Shareholders’ equity: and liabilities of RH, as RH was sold effective August 31, 2005.
Share capital 15 47,083 47,083 2, Significant accounting policies
Contributed surplus 5,774,868 5,774,868 The financial statements have been prepared in accordance with International
a ee 8 1,433,867 1,433,867 Financial Reporting Standards ("IFRS") and its interpretations adopted by the
ccumulated deficit CaN Ge International Accounting Standards Board. The significant accounting policies are as
, , , , follows.
Commitments and contingencies 14 .
(a) Basis of preparation
BS 7,732,616 7,692,480 The financial statements are presented in Bahamian dollars (B$) which Is the

functional currency of the Company. The Bahamian dollar Is the currency of the
country where the Company Is domiciled and is the prime operating currency.
The financial statements are prepared on the historical or amortised cost basis,
except for land which Is stated at an appraised value as explained in note 8.

The accounting policies have been consistently applied by the Company and are’
consistent with those used in the previous year.

See accompanying notes to financial statements.

These financial statements were approved for issue on behalf of the Board of Directors
on January 12, 2007 by the following: —.

(b) Cash and cash equivalents

The Company considers all cash on hand, demand deposits with financial
institutions and fixed deposits excluding those pledged as security for letters of
credit, less bank overdraft, as cash and cash equivalents.

Raymond Simpson Director Frederick A. Munnings, Jr. Director









THE TRIBUNE BUSINESS

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

NN

2. Significant accounting policies, continued |

(c) Financial instruments

(0)

TUESDAY, JANUARY 16, 2007, PAGE 11B

foreign exchange rates prevailing at the dates of the transactions. Monetary
assets and liabilities denominated in currencies other than the Bahamian dollar
are translated at the market exchange rates at the close of each business day.
Exchange differences arising on translation are included in the statement of
operations.

Segment reporting

A segment is a distinguishable component of the Company that is engaged in
providing products (business segment), which is subject to risks and rewards
that are different from other segments. ‘





Classification (p) Use of estimates /

Financial instruments include financial assets and financial liabilities. Financial The preparation of financial statements in conformity with IFRS requires

assets that are classified as loans and receivables include accounts receivable, management to make judgments, estimates and assumptions that affect the

due from former subsidiary and due from former subsidiary's shareholders. application of policies and reported amounts of assets and liabilities, disclosure ;
Financial liabilities that are not at fair value through profit or loss include bank of contingent assets and liabilities at the balance sheet date and the reported 4
overdraft, accounts payable and accrued expenses and long-term debt. amounts of income and expenses during the year. i
Recognition The estimates and associated assumptions are based on historical experience i

and various other factors that are believed to be reasonable under the
circumstances, the results of which form the basis of making the judgments
about carrying values of assets and liabilities that are not readily apparent from
Measurement other

sources. Actual results may differ from these estimates. Significant estimates
which could impact the Company's financial statements include the estimated H
useful life of assets which are depreciated, impairment, allowance for doubtful H
accounts and provision for slow moving and obsolete inventory. The estimates
and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is i
revised if the revision affects only that period or in the period of the revision and , 2 L

The Company recognises financial assets and financial liabilities on the date it
becomes a party to the contractual provisions of the instrument.



Financial instruments are measured initially at fair value (transaction price) plus,
in the case of a financial asset or financial liability not at fair value through profit
or loss, transaction costs that are directly attributable to the acquisition or issue
of the financial asset or financial liability. Transaction costs on financial assets
and financial liabilities at fair -value through profit or loss are expensed
immediately, while on other financial instruments they are amortised.



Subsequent to initial recognition financial assets classified as loans and future periods if the revision affects both current and future periods.
receivables are carried at amortised cost using the effective interest rate method, :
eae eens, Freeport Concrete Company Limited
Financial liabilities, other than those at fair value. through profit or loss, are Notes to Financial Statements, Continued

d at amortized cost using the effective interest rate method.
measured at amorti using the effective interest ra Year ended August 31, 2006

Derecognition (Expressed in Bahamian dollars)

ne

The Company derecognises a financial asset when the contractual rights for
cash flows from the financial asset expire or it transfers the financial asset and
the transfer qualifies for derecognition in accordance with International ;
Accounting Standard 39. During the year ended August 31, 2006, the Company incurred a net loss of Hi
The Company derecognises a financial liability when the obligation specified in Bet 28 302 and as of August 31, 2006, Ine: Gormpany's curent liabilities exceeded H
the contract is discharged, cancelled or expired, its current assets by B$1,069,869. In addition, Becdescibed in note 14 (e), as of TE
August 31, 2006 and as of the date that these financial statements were approved for
(d) Accounts receivable, net issuance, the Company was not in compliance with various debt covenants in

, connection with the bank overdraft and bank loan facilities, primarily relating to
certain financial ratios. The total amount of the bank overdraft and loan at August 31,
2006 was B$1,963,064. The Company has not received written confirmation from its
bankers that they will agree to tolerate the breaches of debt covenants, and therefore
an uncertainty exists as to what action the Company's bankers will take, if any.

Freeport Concrete Company Limited In addition, as explained in note 14 (d), the Company commenced an action in the
Notes to Financial Statements, Continued ; . Supreme Court of the Commonwealth of The Bahamas against the Comptroller of
Customs for judicial review of The Bahamas Customs Department demand for
payment of duties of B$738,644 on all goods “on display” in the new Superstore and
to prohibit the clearing of further goods by the Company from the Freeport Harbour
pending payment of the same. An injunction was obtained against the Comptroiler of
Customs and leave was obtained to commence an application for judicial review.
; The matter is set to be heard on February 12, 2007. The Company has not made an
(e) Inventories : accrual in its financial statements for the amount of duties claimed. Although the

(i) Retail hardware and consumer products Company's attorney is of the opinion that the Company has a good arguable case in

Retail hardware and consumer products are stated at the lower of cost and obtaining the declarations sought, the ultimate outcome of this matter cannot H
net realisable value. Cost is determined using the weighted average presently be determined, and accordingly no provision for any effects on the H|

method. Inventory provisions are made when, in management's opinion, Company that may result has been made in the financial statements.

3. Going concern H

Accounts receivable are stated at amortised cost less an allowance for doubtful
accounts determined based on the policy for impairment in note 2(g).



Year ended August 31, 2006
(Expressed in Bahamian dollars)

i

2. Significant accounting policies, continued



inventory items will have to be sold at amounts less than cost. Inventory The above situations indicate the existence of material uncertainties which cast |

provisions are calculated as the difference between net realisable value, as significant doubt on the Company's ability to continue as a going concern, and | 4

estirhated by management, and cost. therefore it may be unable to realise its assets and discharge its liabilities in the :
(ii) Blocks normal course of business. The financial statements do not include adjustments, if

any, that may be required to the recorded value and classification of assets and

Blocks are carried at the lower of cost and net realisable value. Cost is liabilities, in the event the Company is not able to continue as a going concern.

determined based on direct production costs and an appropriate share of
overheads based on normal operating capacity. Net realisable value is Management and the directors have assessed the above matters and have
determined after considering the net sales price of the finished product. concluded that it is appropriate to prepare the financial statements under the going

(ii) Cement and aggregate concern assumption because of the following reasons:

Cement and aggregate inventories are stated at the lower of cost and net Freeport Concrete Company Limited
realisable value. Cost is determined using the first-in first-out method. Notes to Financial Statements, Continued lH

Property, plant and equipment
0 nee ver Year ended August 31, 2006

Property, ‘plant and equipment are stated at cost less accumulated depreciation (Expressed in Bahamian dollars)
and impairment losses (refer to accounting policy 2(g)), except for land which is

stated-at'apiiraised value based on directors’ valuation and:is not depreciated:

Depreciation is calculated on the straight-line basis over the estimated useful 3. Going concern, continued

lives as follows: 1. During the current year, the Company's Home Centre store went through a
Plant 10 years business transition period of moving out of a dilapidated facility into a new facility
Heavy equipment . 5 years with new products, expanded inventory and all the increased costs associated
Automobiles 3-5 years - with making this move. Certain related costs are not expected to recur in fiscal
Trailers and security booth 5-7 years 2007. :

Store furniture and equipment 7 — 10 years 2. The Company's financial projections for fiscal 2007 indicate profitable operating
Office furniture and equipment 4-7 years results. The decision to close the Home Centre Seahorse location on December
Leasehold improvements the lesser of 10 years or the term of 31, 2006 is expected to save costs and consolidate staff and operations into one

lease after considering renewal options

Expenditures for maintenance and repairs are recognised in the statement of
operations as incurred. Cost of renewals and improvements are added to
property, plant and equipment. At the time of disposal or retirement of assets,
the cost and related accumulated depreciation are eliminated, and any resulting

facility.

3. Anew General Manager for the Home Centre has been hired and is focused on
increasing sales, improving gross profit margins, controlling costs and improving
inventory management.

4. The Company has made all of the loan payments on the scheduled due dates.

rofit or loss is reflected in the statement of operations. ; ‘ ‘
prom hein nien eeuegee Discussions were held with the Company’s bankers who have been asked to

tolerate the breaches of covenants and allow the Company to continue to
: ok operate under the existing loan and overdraft facility limits, with the same
Freeport Concrete Company Limited scheduled monthly loan repayments.

Notes to Financial Statements, Continued 4. Time deposits i






























Year ended August 31, 2006 As of August 31, 2006, time deposits earned interest at 3% (2005: 3%) per annum.
(Expressed in Bahamian dollars) Time deposits of B$50,000 (2005: B$50,000) are being held by the Company's
—_—_— OO OOOO bankers as security for letters of credit as referred to in note 14(b). All time deposits
y mature within 3 months of the balance sheet date. All time deposits are held with
2. Significant accounting policies, continued banks located in The Bahamas and are denominated in Bahamian dollars.
(g) Impairment : 5. Accounts receivable, net
The carrying amount of the Company's assets other than inventories (refer to —_—
accounting policy (e)) are reviewed at each balance sheet date to determine cate elu
wnelier there is any indication of impairment. If any such indication exists, the Trade accounts — third parties B$ 1,333,818 4,086,067
asset's recoverable amount is estimated. An impairment loss is recognised Trade accounts — related parties 411,154 58,759
whenever the carrying amount of an asset exceeds its recoverable amount. The Trade accounts — employees 106,458 61,889
recoverable amount is determined based on the higher of the asset's value in Other 2 300,000
use (present value of estimated future cash flows expected to arise from the Other employee receivables and advances 20,119 12,020
continuing use of an asset and from its disposal at the end of its useful life) or net : 1,871,549 1,518,735
selling price (arm's length sales price between willing parties less costs. of Less: allowance for doubtful accounts (547,832) (209,498)
disposal). Impairment losses are recognised in the statement of operations. B$ 1,323,717 1,309,237

(h

=

Accounts payable
? The other receivable in 2005 represents an amount due frorn one of the Company's

Accounts payable and other liabilities are stated at their amortised cost. landlords in connection with the settlement related to the leasehold improvements at

(i) Provisions the Peel Street location. This amount has been reflected in other income in the 2005

A provision is recognised in the balance sheet when the Company has a legal or State Regn oh opera
constructive obligation as a result of a past event, it is probable that an outflow of Freeport Concrete Company Limited
economic resources will be required to settle the obligation and the amount can Notes to Financial Statements, Continued

be reasonably estimated.
” Year ended August 31, 2006

(i) Warranties ‘ (Expressed in Bahamian dollars)

Sn

The provision for warranties is based on estimates made by management from











historical warranty data. s 5. Accounts receivable, net continued
(k) Revenue recognition The movement in the allowance for doubtful accounts is-as follows:
: 2006 2005
Revenue from the sale of retail hardware and consumer products, aggregate, 3
blocks and ready mix concrete is recognised at the point af sale. Balance at the beginning of the year BS 209,498 187,711
: ha 4 . taut Increase in provision for bad debts 335,544 482,921
Net gain on sale of subsidiary is recognised when the significant risks and Write-offs (28,863) (285,601)
rewards of ownership have been transferred to the buyer. Recoveries 31,653 -
. Decrease resulting from sale of RH - (175,533)
(Il) Operating lease payments Balance at the end of the year BS 547,832 209,498
Payments made under operating leases are recognised as an expense in the 6. Inventories
statement of operations on a straight-line basis over the term of the lease. a —
2006 2005
(m) Interest income and expense ~
: . Hardware and consumer products B$ 2,865,322 1,984,624
Interest income and expense are accounted for on the accrual basis. Aggregate 3,417 6,671
Cement 13,186 20,384
Blocks 17,364 8,544
Freeport Concrete Company Limited 2,899,289 - 2,020,223
Notes to Financial Statements, Continued Less: provision for slow moving and obsolete inventory (410,446) (158,874)
BS 2,488,843 1,861,349

Year ended August 31, 2006

(Expressed in Bahamian dollars) ; a :
The amount shown below as Increase/(decrease) in the provision for slow moving

and obsolete inventory is included in cost of sales in the statement of operations:

i





2006 2005
2. Significant accounting policies, continued
Opening provision for slow moving and
(n) Foreign exchange obsolete inventory BS 158,874 559,428
Increase/(decrease) in provision 251,572 (201,495)
The Company's functional and reporting currency is the Bahamian dollar. Decrease resulting from sale of RH__ _ te ee et ___ (199,059)
BS 410,446 158,874

Transactions in foreign currencies are translated to Bahamian dollars at the



THE TRIBU

Free

NE BUSINESS

port Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006

(Expres

sed in Bahamian dollars)



14. Commitments and contingencies, continued

(a)

Free

Leases, continued
New Home Centre Lease

In July 2005, the Company entered into a 15 year lease agreement with a
company related to the founding shareholder. The lease commenced on
January 1, 2006, however, the Company did not occupy the building until June,
2006. The Company became liable for rent effective June 1, 2006. During the
first 48 months the lease calls for rent of B$396,000 per annum to be paid in
monthly instalments of B$33,000. Thereafter, the rent is increased in proportion
to the United States consumer price index. The Company received a discount on
the rent for the period from June 1, 2006 to August 31, 2006 of B$8,000 per
month, to B$25,000 per month. Thereafter, the rent increased to the amount in
the lease of B$33,000 per month. Rent expense incurred during the current year
on this lease amounted to B$75,000 (2005: B$Nil).

Lucaya store lease

In 2005 the Company entered into a 3 year renewable lease for retail store space
comprising approximately 10,000 square feet, in Lucaya. The lease is payable in
monthly instalments of B$11,717 per month. Annual rent will be adjusted to
reflect increases in the consumer price index. Annual rent is not to exceed
B$180,592. Subsequent to year end the Company decided to close this location,
however, the Company continues to be liable under the terms of the lease
agreement until the expiration date in December 2007. Rent expense incurred
during the current year on this lease amounted to B$140,604 (2005: B$93,731).

Administrative offices

The Company leases administrative office space from a related party. The lease
expired on August 31, 2006 and was not renewed. Rent expense incurred
during the current year on this lease amounted to B$34,279 (2005: B$32,016).

The approximate future minimum annual lease payments and license fees under
non-cancellable leases are as follows:

2007 544,095
2008 450,366
2009 403,501
2010 139,501
2011 139,501
Thereafter ' 4,254,004

B$ 5,930,968

port Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006

(Expres

sed in Bahamian dollars)



14. Commitments and contingencies, continued

(b)

(c)

(d)

Credit facilities

The Company is contingently liable under stand-by letters of credit amounting to
B$50,000 (2005:$50,000), which are secured by time deposits of an equivalent
amount. The Company is also contingently liable under a corporate visa credit
card of B$20,000 (2005: $20,000). The Company has available a B$1,770,000
(2005: B$1,000,000) overdraft facility of which B$1,491,916 (2005: B$320,532)
has been used at year end.

These credit facilities are collaterised by fixed deposits of B$50,000
(2005:B$50,000) and a fixed and floating charge over the Company's land and
all of its business assets stamped for B$2,640,000.

The Company is also contingently liable under a customs bond guarantee of
B$50,000 (2005: B$50,000).

Capital commitments

The directors have approved B$460,000 in connection with the construction of a
new block plant and a concrete plant at the new BRL premises. As of August 31,
2006 B$190,000 had been incurred. The Company has placed a hold on the
construction of the premises.

Litigation

The Company commenced an action in the Supreme Court of the
Commonwealth of The Bahamas against the Comptroller of Customs for judicial
review of The Bahamas Customs Department demand for payment of duties of
B$738,644 on all goods “on display” in the new Superstore and to prohibit the
clearing of further goods by the Company from the Freeport Harbour pending
payment of the same. An injunction was obtained against the Comptroller of
Customs and leave was obtained to commence an application for judicial review.
The matter is set to be heard on February 12, 2007. The Company has not
made an accrual in its financial statements for the amount of duties claimed.
Although the Company's attorney is of the opinion that the Company has a good
arguable case in obtaining the declarations sought, the ultimate outcome of this
matter cannot presently be determined, and accordingly no provigion for any
effects on the Company that may result has been made in the financial
statements. ‘

The Company is involved in various other legal proceedings and claims related
to products sold by the Company and unfair dismissal matters. Based on
information provided by the Company's legal counsel, in management's opinion,
the ultimate disposition: of these matters will not have a material effect on the
Company's financial condition, in excess of the provisions that have already been
recognised.

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)



14.

15

16.

17.

. Commitments and contingencies, continued
(e) Non-compliance with debt covenants

As of August 31, 2006 and as of the date that these financial statements were
approved for issuance, the Company was not in compliance with various. debt
covenants in connection with the bank overdraft and bank loan facilities, primarily
relating to certain financial ratios. The total amount of the bank overdraft and
loan at August 31, 2006 was B$1,963,064. The Company has not received
written confirmation from its bankers that they will agree to tolerate the breaches
of debt covenants, and therefore an uncertainty exists as to what action the
Company’s bankers will take, if any.

. Share capital

, The Company has an authorised share capital of 20,000,000 shares with par value
B$0.01 per common share. As at August 31, 2006, 4,708,334 (2005: 4,708,334)
shares were issued and fully paid.

Loss per share

Loss per share is calculated by dividing net loss for the year by the weighted average
number of shares issued and outstanding. There are no share options, warrants of
other instruments outstanding that have the effect of diluting loss per share.

2006 2005
Net loss applicable to ordinary shares B$ (1,993,302) (290,714)
Weighted average number
of ordinary shares outstanding 4,708,334 4,708,334
Weighted average number
of ordinary shares outstanding,
assuming full dilution for options 4,708,334 4,708,334

a ee en
Segment reporting

Segment reporting is presented in respect of the Company’s business segments.
The primary format is based on the Company's management and internal reporting
structure.

Segment results, assets and liabilities include items directly attributable to a segment
as well as those that can be allocated on a reasonable basis.

The Company operates in The Bahamas only, in two business segments comprising
aggregate and ready-mixed concrete, and hardware and consumer products.



TUESDAY, JANUARY 16, 2007, PAGE 13B

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

eee reerenennewreinnersinenansmmrevenuntt matennene emisiunenad ate fareanedsunieenas Hiane ue ten eet tees4remawtel ous na.sareas seen tr ene turer ener sant stamusiarenveeenr meer emE

17

18.

. Segment reporting, continued

The table below summarises business segment information expressed in B$000's.

ene renter ar eR Ee een nese reresntaneetresumarueserer es ent

Aggregate and Hardware and
ready-mixed concrete consumer products Total Total
2006 2005 2006-2005 __2006 2005

Revenue BS 4,534 2,764 11,528 19,861 16,062 22,625
Direct costs
Materials used/











merchandise sold (2,373) - (1,859) (9,183) (14,502) (11,556) (16,361)
Payroll related (551) = (476) - - (551) (476)
Equipment / (318) (104) - - (318) (104)
Depreciation (244) (230) - - (244) (230)
Utilities (63) (59) - - (63) (59)

(3,549) (2,728) (9,183) (14,502) (12,732) (17,230)

Decrease/(increase) in
provision for slow moving :

inventory - - (252) 201 (252) 201
Gross profit 985 36 2,093 5,560 3,078 5,596
Other income 11 211 31. 2,290 42 2,501
Operating expenses BS (943) (709) (4,170) (7,679) (5,113). (8,388)
Net income/(loss) 53 (462) (2,046) 171 (1,993) (291)
Other information: ;
Total assets B$ 3,137 3,048 4,596 4,644 7,733 7,692
Total liabilities BS. 888 906 4,968 2,916 5,856 3,822

Fair value disclosure of financial instruments

Fair value estimates are made at a specific point in time, based on relevant market
information and information about the financial instrument. These estimates do not
reflect any premium or discount that could result from attempting to realise, at one
time, the Company's entire holdings of a particular financial instrument.

These estimates are subjective in nature and involve uncertainties and matters of
significant judgment and, therefore, cannot be determined with precision. Changes
in assumptions could significantly affect the estimates. The carrying amount of the
Company's significant financial assets and liabilities approximate fair value because
of one or more of the following reasons:

(i) Immediate or short-term maturity,
(ii) Carrying value approximates market value,

(iii) Interest rates which approximate market rates.

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

19.

20.



Financial instrument risk management

The most significant financial risk to which the Company is exposed is credit risk and
interest rate risk. The Company is exposed to credit risk in the form of the carrying
amount of accounts receivable, due from former subsidiary and due from former
subsidiary’s shareholders. The Company is exposed to interest rate risk in the form
of interest bearing bank loan and loan from related party.

The Company manages the credit risk of accounts receivable by evaluating the
creditworthiness of its customers, establishing credit limits and by implementing
procedures to follow up on a regular basis on the collection of any balances in
arrears. Management manages credit risk on amounts due from former subsidiary
and due from former subsidiary's shareholders by obtaining adequate security.

Management does not anticipate any credit losses arising from credit risk exposures
in excess of the allowance for doubtful-accounts disclosed in note 5.

The Company managers interest rate risk by entering into loan agreements at rates
which approximate market rates. ~~

Corresponding figures

Certain corresponding figures for 2005 have been reclassified to conform with the
presentation adopted in 2006.

As explained in note 1, the corresponding figures for the year ended August 31, 2005
in the statement of operations and statement of cash flows, include the results of RH
up to August 31, 2005. The corresponding figures 'in the balance sheet do not
include the assets and liabilities of RH, as RH was sold effective August 31, 2005. A
compatison of the statement of operations for the years ended August 31, 2006 and
2005, excluding the results of RH is shown below:























2006 2005
Sales, net of discounts BS 16,061,732 14,413,749
Cost of sales 12,984,405 11,096,330
Gross profit 3,077,327 3,317,419
Other income 40,950 349,504
Interest income on time deposits 1,648 1,270
Gain on sale of subsidiary - 620,179
Insurance proceeds = 1,476,737
42,598 2,447,690
3,119,925 5,765,109
Freeport Concrete Company Limited
Notes to Financial Statements, Continued
Year ended August 31, 2006
(Expressed in Bahamian dollars)
20. Corresponding figures, continued
2006 2005
Operating expenses: ;
Payroll related costs, including employee
benefits and commissions 2,090,021 1,892,387
Rent 634,782 256,545
Bad debt expense 335,544 320,753
Depreciation and amortisation 329,011 207,634
Legal and professional 323,712 143,127
Utilities, postage and delivery 279,096 175,699
Computer and office supplies 138,531 117,245
Vehicle, maintenance and repairs 228,795 199,247
Other operating costs 202,878 180,835
Bank charges and exchange 115,823 133,637
Interest on long-term debt and
due to shareholder 77,784 53,603
Interest expense on bank overdraft ; 76,344 14,207
Business insurance 73,238 54,393
Advertising 66,942 65,686
Licence fees and permits 54,842 54,682
Security 34,490 13,132
Travel, trade shows and entertainment 33,349 24,149
Donations 18,711 27,230
Inventory damage by hurricane - 1,263,610
Impairment on property, plant and equipment - 475,595
(Gain)/Loss on disposal of property, plant
and equipment (666) 4,126
_ - . 5,113,227 5,677,522
Net (loss)/income B$ (1,993,302) 87,587

21.

Subsequent events

Subsequent to year end, the Company decided to close the store located in Lucaya,
effective December 31, 2006. The Company will still be liable for rent for this location
as explained in note 14 until December 2007, however the Company is attempting to
sub-lease this properly for the remainder of the lease period.









a esypaomatbanensns sacuclinnnoeoetpnef

x a es tae pale as ati 8 fet

A Rn SN EMEP ORIEIIG HE





THE TRIBUNE BUSINESS







































































































TUESDAY EVENING JANUARY 16, 2007
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TUESDAY, JANUARY 16, 2007, PAGE 15B

let Charlie the
Bahamian Puppet and
his sidekick Derek put,

some smiles on your

kids’s faces.

Bring your childven to the
McHappy Hour at McDonald's in
: Marlborough Street every Thursday
from 3:30pm to 4:30pm during the
month of January 2007.

Enjoy Great Food, Prizes and Lots of Fun. |

BS

?m lovir’ it

—orcall

Mimake great gifts!



Breezes expands US _ Travel agents |
passport refund plan

PAGE 16B, TUESDAY, JANUARY 16, 2007



New port to boost shipping |

THE TRIBUNE

‘revenues and employment

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter

ahamian shipping

industry executives

backed the relocation

of commercial shipping

faclities from down-
town Nassau, as the Government
signed a contract with the Dutch
design firm Ecorys-Liviense to cre-
ate a business plan for the project,
which is vital to the revitalisation of
Bay Street.

During the contract signing at the
Cabinet Office, it was announced that
Ecorys-Liviense is to create a busi-
ness plan for the the new port over
the next several months, at a cost of
between $350,000-$400,000. The cost
is to be shared between the public
and private sectors.

Speaking on behalf of the industry,
Michael Maura, of Tropical Shipping,
said the sector fully supported the
project, which will require them to
relocate their facilities to southwest-
ern New Providence.

The new port will be located at
Clifton, in between BEC’s Clifton
power plant and Commonwealth
Brewery.

“As a shipping company and as a
Bahamian, I am - and my company is
- in full support of doing what we
need to do to make New Providence
a better place for us today and our
children tomorrow,” Mr Maura said.

“As a group (the Task Force
assigned to the project), and I know I
speak for the whole team, we are very
excited about this opportunity and
we will continue to work very hard. I
am proud of the work which we have
done.”

Mr Maura said that in many cases,
Bahamian shipping companies inher-
ited the space they now occupy. Yet it
was never necessarily built for a ship-
ping company.

“As we have been very fortunate
within the Bahamas to see our econ-
omy thrive, we have reached the point
where the shipping companies have to
go higher and higher in terms of their
containers and so forth, because we
have physical limitations on the prop-
erties we occupy,” Mr Maura said.

As a result, the port relocation
would enable the shipping companies
to expand and improve their opera-
tions, leading to increased revenue



@ MICHAEL MAURA of Tropical Shipping,
plan for the new port in southwestern New Providence

and employment.

“There is a lot of congestion [on
the current docks], and so we will
realise efficiencies which will help us

have better control of our costs. We’

will be able to do more with what we
have, and also there is the whole safe-
ty component,” Mr Maura said.

He added that over the next few
months, the joint public and private
sector task force will be visiting
Caribbean and US ports to learn from

is pictured at the signing of the contract to develop a business
with the Dutch firm, Ecorys-Liviense

their experiences, and obtain their
recommendations on how to proceed
forward.

Marten van den Bossche, vice-
chairman of Ecorys-Liviense’s board
of directors, said he expects the busi-
ness plan to be completed within the
next four to five months. “Moving
the port from downtown will free up
more than 50 acres of prime water-
front development for conversion into
commercial and residential uses, and

restore Nassau to its rightful place
among the leading waterfront cities,
not only in the Caribbean but in the
world,” Prime Minister Perry Christie
said. He added that the new port was
not being planned in isolation, but
was part of a comprehensive plan for
the redevelopment of southwestern
New Providence. This will soon see
the creation of the Clifton Heritage
Park and the $1.3 billion Albany res-
idential development, plus a revi-

(Photo: Tim Clarke/Tribune Staff)

talised South Ocean resort...

The Nassau Tourism and Devel-
opment Board’s chairman, Charles
Klonaris, said the contract signing
showed the private and public sec-
tors were serious and committed to
the redevelopment of downtown Nas-
sau. “This is a very positive thing and
we are all excited. The relocation of
the port is one of the fundamental
elements of the redevelopment of the
city,” he said.







‘confused’ on —
Baha Mar hotels




lm By CARA BRENNEN-
BETHEL °
Tribune Business Although the chain has 4
Reporter at the 2007 4 ‘ eek
Caribbean Marketplace oe ‘ FROM page 1B _ Baha Mar is likely to have viewed Inst ‘
conference joined other Caribbean night's ining as puting n end to spel



2

ARUBA — Superclubs
Breezes Bahamas is joining
the rest of the chain in offering
to reimburse the costs of
obtaining a US passport to
travel agents and groups who
stay at the resort.

Although the chain has
joined other Caribbean hotels
in refunding passport costs for
US families and individuals, it
decided to ensure group trav-
el would not be impacted if a
small number of those persons
-did not have passports.

Similarly, SuperClubs
realised there were a signifi-
cant number of travel agents
who may not have US pass-
ports, and decided to offer the
promotion to them as well.

To be eligible for the reim-
bursement, guests have to pro-
vide proof they obtained either
their passports or obtained a
renewal of their passports as a
result of the Western Hemi-
sphere Travel Initiative’s
(WHTI) launch.

This announcement came at
a press luncheon yesterday,
given by SuperClubs for press
attending Carribean Market-
place in Aruba.

The incentive comes on the
heels of the US government's
decision not to extend the
WHTI deadline for Americans
to’ have passports for re-entry

hotels in refunding passport
costs for US families and
individuals, it decided to
ensure group travel would
not be impacted if a small
number of those persons
did not have passports

into their homeland past Jan-
uary 23, 2007.

Suzanne McManus, Super-
Clubs vice-president of public
relations, made the announce-

ment. Although the WHTI.

was initally seen as having a
major impact on the Car-
ribean, many Carribean coun-
tries attending this two-day
travel and trade show felt that
strong marketing campaigns
over the past few months had
minimised the fallout.
SuperClubs, which had tra-
ditionally held a strong posi-
tion in the destination wed-

ding market, is planning to
increase profits in this are
through a new service.

This will allow friends and
family to purchase items the
couple registers for for their
honeymoon. This would
include items such as spa visits
and. massages, Ms McManus
said.

A company representative
said SuperClubs’ Cable Beach
resort recently had to undergo
minor repairs to fix plumbing
problems, and room doors,
which were expected to be
completed in a few weeks.



“Are these new hotels actually going to be
built? Will this really happen, and when will
this happen? They are unsure about how to
market the project.

“I think that the developers need to have
better communications regarding what is
going to happen, and generate some excite-
ment for the resort in the industry.” |

Mr Hanrattay’s comments came as Baha

Mar’s chief executive, Sarkis Izmirlian, last
night signed the formal joint venture agree-
ment with Harrah’s as Tribune Business went
to press.
. The deal is likely to see Harrah’s become
the brand and operating partner for the cur-
rent Wyndham casino, which will be rebrand-
ed under the Caesar’s logo. In addition, there
will also be a 1,000-room Caesar’s hotel.

There has been a growing impatience
among members of the public, particularly
those living at Cable Beach, to see the Baha
Mar project crank into construction gear.
Among the most important projects yet to
start are the re-routing of West Bay Street
and the start of the commercial village, which
will house all the offices and government
buildings currently on the south side of West
Bay Street.

The major construction is likely to begin
this year, once Kerzner International’s Phase
II expansion on Paradise Island is complet-
ed. This will free up construction workers in
an already-tight labour market.

Baha Mar has already embarked on an $80
million upgrade of the Radisson, which will be
rebranded as a Sheraton once completed.
Starwood, Baha Mar’s operating partner, will
also take a stake in the project along with
Harrah’s.

arrangement, given that its ownership
changed hands to two private equity firms “}

recently.

Meanwhile, Mr Hanratty said that overall,
the Bahamas continues to do very well asa :
destination for them, primarily due to its close »
proximity to the US. This means most trav-
ellers can get here within a two-and-a-half "}:

hour flight.

“The impression is generally favourable,” *}

he said of the Bahamas.

Group travel continues to do very well, he =):

added, noting that Travel Impressions had

just completed the planning for a group of .
1200 represenatives of the Yellow Book °
Group (the company behind the yellow pages .
in the US) to stay at the Our Lucaya resort-on 25

Grand Bahama in March 2007.
Increasingly

Mr Hanratty said that increasingly, the

company’s clients were seeking more inti- .

mate tour experiences during their vacations.

He added that there was a demand for new ;

tours, which would also serve to increase the

amount of money vistors spend during their Ff

vacation.

As Travel Impressions is owned by Amer-
ican Express, whose cardholders account for
many of their clients, Mr Hanrattay said they
have a market for high-end and different
experiences in the Bahamas. Y

Travel Impressions is headquartered, with

an additional office, in Bethlehem ,Pennsly- *
vania. Since its inception in 2004, it has taken
more than five million travellers to the Car- ¢
ribean, Bahamas, Latin America, Tahiti and .

the US.


























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ibune





Teme benetan’” it...

83F

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js WITH SUN

The Miami Herald —

BAHAMAS EDITION







Volume: 103 No.46-





“gay crisi




‘We can hoost financial |
sector's GDP share by
10% in 10 years’

Saag a ac) aa tt SSS gL

Archbishop Gomez says
Anglicans could split
over homosexuality

@ By KARIN HERIG

THE Anglican church may be
divided into two separate groups
as a consequence of the continu-
ing debate on homosexuality, Arch-
bishop Drexel Gomez of the West
Indies said yesterday.

As the issue threatens to tear the

church apart, deliberations con-
cerning the future of the Anglican
Communion, which claims 38
autonomous provinces and some
70 million members world-wide,
will be held here in the Bahamas
with Archbishop Gomez presiding
over the proceedings.

Speaking at a press conference

held at Addington House yester-
day morning, Archbishop Gomez:

said that the Anglican Church is
now at a pivotal moment in its his-
tory and will likely see the creation
of two sub. groups within its world-
wide Communion.

The Archbishop of Canterbury
Rowan Williams has appointed
Archbishop Gomez as chairman of
the 10-member Covenant Design
Group.

The group is charged with deter-
mining the full implications of the
actions of two of the world’s largest
Anglican Provinces, the United
States and Canada — both have
been supportive of same-sex unions
and approved the Episcopal
Church’s consecration of a gay bish-

op.

Archbishop Gomez explained
that the group includes experts in

canon law, the nature and the mis—

sion of the church and ecumenical
relations.

“We are expecting to be able to
do enough work by Thursday night
that we will be able to make a inter-

-im report to the Archbishop of the

Communion,” he said.

The interim report is expected
to be presented to the Primates
Meeting and Joint Standing Com-
mittee when they meet in Tanzania
in February.

“A lot hinges on the actions the
Archbishops will take,” Archbishop
Gomez said.

He emphasised that it is impor-
tant that the Anglican principle
of “unity within diversity” be
guarded.

“In Anglicanism we have up to

this point been able to hold togeth-
er certain diverse theological views
and still remain as one Commu-
nion,” he said.

The Archbishop said that he
hopes a division into sub-groups
within the Communion will pre-
vent the split of the Anglican
Church, which many believe to be
inevitable.

He said that the Archbishop of
Canterbury envisions that those

provinces, which sign on to the

Covenant, will become constituent

SEE page 10

Pa se DATS SRT eH TET PTT TN ON TEIT ES ITO SIE TT TST TS












~










tan

The Taste on Tuesdays *
~ Buyany large pizza with 2 or more
- foppings & Get a medium
_ ]-topping pizza absolutely





Bahamians ‘won't

~ need to have

visas for Europe
in the future’ .

i By ALEXANDRIO-
MORLEY
Tribune Staff Reporter

__ FOREIGN Affairs Minis-
ter Fred Mitchell announced
yesterday that Bahamians will
not be required to have visas
to enter Europe in the future,
and the government is set to
sign a new trade agreement
with the European Union.

Minister Mitchell told
reporters that the Christie
administration, from May
2002, had been working to
resolve the issue of access of
Bahamians to Europe.

In June 1985, seven Euro-
pean Union countries signed a
treaty to end internal border
checkpoints and controls.

With a “Schengen” visa
persons may enter one coun-
try and travel freely through-



SEE page 10



US commitment
to anti-drug
mission with
the Bahamas
is reaffirmed

@ By PAUL TURNQUEST
Tribune Staff Reporter

US SENATOR Bill Nelson
reaffirmed the United States com-
mitment to the joint US/Bahamas
anti-drug OPBAT mission, stat-
ing that the US is fully aware of
the importance of the mission
both to the US and the Bahamas.

Yesterday Senator Nelson gave
great credit to US Ambassador
John Rood for bringing the con-
cern of the OPBAT mission to
his attention, and advised the pub-
lic that the US Army has com-
mitted to funding the operation
for at least another five years.

“The main thing was when the
US army decided that they need-

SEE page 10

TUESDAY, JANUARY 16, 2007

A STARK warning was issued
from Inagua yesterday after van-
dals wrecked two vehicles belonging
to the police and Defence Force.

“We want justice - and if we don’t
get it there will be worse to come,”
said a source after the truck and car
were left with smashed windows
over the weekend. :

The incident is believed to be an
act of frustration and rage caused by
government's failure to arrest those
believed to be involved in ihe beat-
ing of aiy Inagua nian by Defence
Force marines in late November.

Islanders now believe govern-

ment is trying to protect some of
the men who beat marine worker
Dexter Wilson in what witnesses
claim was an unprovoked attack
seven wecks ago.

Defence Force officials yester-
day confirmed that one of their
vehicles had been vandalised, but
could not say if this act of violence
was in any way related to the attack
on Mr Wilson.

“JT was informed that there was
some vandalism on two vehicles,
but we cannot yet Say if it’s‘in-any
way.connected to the incident (the

attack). Iam awaiting the report on ~

the matter and will'then know
more,” Sub Lt Sonia Miller, public
relations officer for the Defence
Force, told The Tribune.

Mrs Miller said that the investi-
gation into the vandalism was con-
tinuing, but no suspects had yet
been taken into custody.

One of the officers involved in
the attack seven weeks ago — when
Mr Wilson was left for dead by a
group of marines — is believed to
belong to the Drug Enforcement
Unit (DEV). ‘ a

SEE page 10.



near to Excellence Estates.

. (Photo: Ana-Bianca Marin)

@ By ALEXANDRIO MORLEY
Tribune Staff Reporter a

FRUSTRATED residents of
Excellence Estates are complaining
about a number of problems -—
among them that government
employees are attempting to take
advantage of single mothers in the

area.

Yesterday, The Tribune reported
that home-owners in the recently
built government subdivision were
complaining about leaky roofs, cheap
wall paint, and many unfinished
repairs which they claimed the Min-
istry of Housing has failed to address.

In order to verify the authenticity

SEE page nine

@ A RESIDENT complained
about a dump site which is located

Herald .

Dolphin dies at Atlantis
after a long illness

ONE year after their arrival in the Bahamas, one of the
dolphins, rescued from the Marine Life Oceanarium in
Mississippi after Hurricane Katrina, has died at Atlantis.

Tessie, the 31-year-old dolphin, who for health reasons
was initially left behind when her pod mates were sent to the
Bahamas, died last week after a long illness.

The other 16 dolphins are healthy and swimming along in
their new environment at Atlantis Resort, Frank Murru,
chief marine officer for Kerzner International, told the Sun





Tessie was among the many dolphins washed out into the
open ocean after Hurricane Katrina swept along the Gulf
Coast leaving devastation in its wake.

As her fellow pod mates were being prepared to be trans-

ported to their new home at Atlantis, her caretakers dis-

SEE page nine



st resolution for the New Year?”

Call today!

= PEIDELITY

Nassau: 17 356.7764 © Freeport





4E | 1UESDAY, JANUARY 16, 2007



NHL GAMES

Associated Press

UNIONDALE, N.Y. — Mar-
tin St. Louis, Vincent Lecava-
lier and Brad Richards each
had a goal and an assist to lead
the Tampa Bay Lightning past
the New York Islanders 4-3 on
Monday.

Vaclav Prospal had a goal
and two assists for Tampa
Bay, which has won five
straight. Johan Holmavist
stopped 33 shots for his third
straight win against New
York.

Alexei Yashin, Viktor Koz-
lov and Trent Hunter scored
for the Islanders, who have
dropped two straight and eight
of their last 10, including four
straight at home.

e Bruins 3, Sabres 2
(SO): In Boston, Marco Sturm
scored the lone goal in the
shootout to lift Boston over
Buffalo and snap the Bruins’
three-game losing streak. ,

Marc Savard and PJ. Axels-
son also scored for Boston,
which avoided its longest los-
ing streak of the season. Derek
Roy and Jochen Hecht scored
for the Sabres, who have lost a
season-high three straight.

Ryan Miller stopped 35
shots for Buffalo, including an
exceptional diving save with
his stick on a shot by Paul
Mara late in the second period.
But he couldn’t get his stick on
Sturm’s shot in the shootout.

e Stars 3, Kings 1: In Dal-
las, Stu Barnes and Niklas
Hagman scored power-play
goals, Marty Turco stopped 20
shots and the Stars snapped a
three-game losing streak. .

Trevor Daley added a goal,
and Mike Ribeiro had two

INTERNATIONAL EDITION

~ HOCKEY | BASEBALL



KIRTHMON DOZIER/DETROIT FREE PRESS/MCT

ICY DEFENSE: Detroit’s Pavel Datsyuk, right, defends
against Montreal's Alex Kovalev on Monday.

assists for Dallas. Michael
Cammalleri had a power-play
goal for Los Angeles.

Dallas is 6-0 against Los
Angeles this season, outscor-
ing the Kings 23-11. Los Ange-
les has lost four straight over-
all. ,

e Coyotes 5, Blues 4
(SO): In Glendale, Ariz., Lad-
islav Nagy scored the deciding
goal in a shootout, giving
Phoenix a victory and snap-
ping St. Louis’ three-game
winning streak.

The Coyotes salvaged the
finale of a three-game home-

FROM THE SPORTS FRON

MOVING ON:
Amelie
Mauresmo
hits a
backhand
return
against
Shenay
Perry in their
first-round
match at the
‘Australian
Open on
Monday.

. Mauresmo
won 6-3, 6-4.

stand after returning to Ari-
zona on a seven-game winning
streak.

The first two skaters for
both teams failed to score in
the shootout before the Blues’
Doug Weight beat Mikael
Tellqvist. But Shane Doan
kept the Coyotes alive with a
goal against Manny Legace,
and then Tellqvist blocked
Peter Sejna’s shot to set up
Nagy’s winner.

Ed Jovanovski scored twice
and had an assist for Phoenix,

and nearly won it in overtime -

when his shot careened off the



Roddick, Mauresmo advance

°OPEN

could hardly walk after five
games. So I had that prob-
lem,” Federer said. “But then
also I had no confidence.
That’s where I was just not
good enough yet. I went

through a patch where I had .

many losses, and maybe more
so I enjoy it now when I win.”

Oh, he wins now. Federer
was 92-5 last season, with 12
titles, including three majors.
He has enough entry rankings
points to ensure he’ll surpass
Jimmy Connors’ long-
standing record of 160 con-
secutive weeks at No. 1.

Connors’ protege, Rod-
dick, had his hands full with
combative up-and-comer Jo-
Wilfred Tsonga, a French
wild-card entry who led by a
set and 5-2 before wilting.

Marat Safin, in his first
match at Melbourne since
winning the 2005 title, held
off Benjamin Becker 5-7, 7-6
(7-2), 3-6, 6-3, 6-4 in the finale
of the night session. Safin
missed the 2006 tournament
with a khee injury.

The other players Federer

had on his fast-starters list,
No. 2-ranked Rafael Nadal
and 2005 runner-up Lleyton
Hewitt, play today. So does
No. 5 James Blake, who meets
Carlos Moya in a rematch of
last weekend’s Sydney Inter-
national final.

Top-seeded Maria Shara-
pova also opens her cam-
paign for back-to-back Grand

. Slam titles on the second day
against Camille Pin of France.
Kim Clijsters and three-time
winner Martina Hingis also
are in action.

Defending champion Ame-

lie Mauresmo beat Shenay
Perry 6-3, 6-4 in the tourna-
ment’s first match on center
court, and 2005 winner
Serena Williams also
advanced in straight sets.
Roddick wasted four set
points in losing a 38-point tie-
breaker before rallying for a
6-7 (18-16), 7-6 (7-2), 6-3, 6-3

victory.
“These first matches are a
little bit uncomfortable

sometimes,” Roddick said.

The 2003 U.S. Open cham-
pion became enraged after
chair umpire Carlos Ramos
declined to overrule a call
that gave Tsonga a set point
in the first tiebreaker, the
longest known at the Austra-
lian Open, according to orga-
nizers.

“We thought he might just
go for broke ... and he did
that,” Roddick said. “I didn’t
know if he’d be able to keep it
up. I kept thinking that he
was going to crack some-
where.”

Roddick joined five other
American men advancing.
Mardy Fish produced the big-
gest upset, ousting fourth-
seeded Ivan Ljubicic 4-6, 7-6
(7-2), 6-4, 6-4.

“Tt was a great opportunity
to play someone like him, to
show everyone I can play,
that I’m back,” said Fish, who
slumped as low as No. 34] last
year while recovering from
two operations on his left
wrist.

Ljubicic has made first-
round exits at the last two
majors. “When I play ATP
tournaments I feel like No. 4
in the world. Maybe in Grand
Slams I put myself under too
much pressure,” he said.

Joining Fish and Roddick
were Amer Delic, Zack
Fleishman, Vince Spadea and
Sam Querry.

Last year’s finalist Marcos
Baghdatis, No. 7 Tommy
Robredo, No. 9 Mario Ancic
and No. 18 Richard Gasquet
all advanced along with for-
mer No. l-ranked Juan Carlos
Ferrero, who played only
three games before his first-
round rival retired.

Among the women, Rus-
sians Svetlana Kuznetsova,
seeded third, and Elena
Dementieva, seeded seventh,
advanced along with French
Open semifinalist Nicole Vai-
disova and No. 1] Jelena Jan-
kovic of Serbia.

Serbian and Croatian fans |

clashed inside Melbourne
Park on Monday, with police
and private security guards
ejecting 150 people.

Rival spectators wearing
national colors kicked each
other and used flag poles as
weapons during brief scuf-
fles, although police said no
injuries were reported and no
arrests were made.

Organizers tightened secu-
rity with Croatia’s Marin
Cilic to play Serbia’s Ilia
Bozoljac today, and said no
strife would be tolerated.

By the time Serena Wil-
liams. got onto Rod Laver
Arena for the first evening
match, all the trouble outside
had been quelled. She had lit-
tle trouble fending off 27th-
seeded Mara Santangelo 6-2,
6-1 despite not being in top
shape. Williams, with seven
Grand Slam singles title,
played only 16 matches last
year and dropped out of the
top 100 for the first time 1997.



|
|
|

|

Lightning extend Islanders’ woes

crossbar with less than a min-
ute to play.

Jovanovski broke a 2-2 tie
with a power-play goal in the
waning seconds of the second
period and then broke a 3-3 tie
with another late in the third.
Third-period goals by Dennis
Wideman and Sejna tied it
again for St. Louis.

e Red Wings 2, Cana-
diens O: In Detroit, Dominik
Hasek made 23 saves to earn

- his sixth shutout this season

and 74th career in Detroit’s
win over Montreal.

Jiri Hudler, and Pavel Dat-
syuk scored for Detroit, which
won its fourth straight.

Hasek, who leads the NHL
with a 1.98 goals-against aver-
age, is one shutout behind
New Jersey’s Martin Brodeur
for tops in the league. But that
wasn’t enough to earn a spot
on the Western Conference
All-Star team.

David Aebischer made 37
saves for Montreal.

Detroit defenseman Chris
Chelios played in his 1,515th
NHL game and moved past
former Red Wings captain
Steve Yzerman into 10th place
on the career list.

e Predators 5, Flames 3:
In Nashville, Tenn., David
Legwand had a goal and two
assists, and Martin Erat had
one of each to lift Nashville to
its sixth straight victory.

Scott Hartnell, Jason Arnott
and Ryan Suter also scored for
Nashville.

Kristian Huselius scored
twice and Daymond Langkow
added a goal for Calgary,
which had a five-game win-
ning streak snapped.



MiamiHerald.com | THE MIAMI HERALD





SOUTHEAST W tL OL SL PTS GF GA HOME ; _ AWAY . DIV
Atlanta . 25 14 6 2 58 144 143 11-5-3-1 14-9-3-1 12-4-4-1
Carolina 24 18 2 3 53 143 142 13-7-0-2 11-11-2-1 11-3-0-1
Tampa Bay 24 21 1 1 50150 147 12-11-0-0 12-10-1-1 10-7-0-0
Washington 19 19 2 5 45 141 157 11-10-1-2 8-9-1-3 6-8-1-1
Florida 17 21 3 6 43135 154 12-8-1-15-13-2-5 =. 3-11-1-0
ATLANTIC WL OL SLPTS GF GA HOME AWAY DIV
New Jersey 27 14 «OF |=-4-)=—-58 119 105 15-4-0-3 12-10-0-1 10-4-0-1
N.Y. Rangers 23.19 3 1 50 139 143 10-9-3-0 13-10-0-1 8-8-0-0
N.Y. Islanders 21 20 2 2 46 131 129 11-9-2-1 10-11-0-1 8-6-2-0
1 Pittsburgh 19 17 3 4 45 134 139 10-8-2-2 9-9-1-2 12-5-1-1
|. Philadelphia 11 30 2 2 26109 174 3-13-2-2 8-17-0-0 3-11-0-2
NORTHEAST W L OL SLPTS GF GA HOME AWAY DIV
Buffalo 31) Tt 2 66 172 133 14-7-1-1 17-4-1-1 8-7-1-1
Montreal 25 16 1 4 55 138 132 14-6-0-3 11-10-1-1 8-5-0-4
Ottawa 26 19 2 O 54 162 134 12-10-1-0 14-9-1-0 11-7-0-0
Boston 21 18 +41 3 46 128 157 13-8-0-2 8-10-1-1 10-7-0-1
Toronto 20 20 2 4 46150 156 10-12-1-2 10-8-1-2 8-8-2-2
WESTERN CONFERENCE
CENTRAL WL OL SLPTS GF GA HOME A
Nashville 32 11 2 1 67 160 117
Detroit 29 12 2 3 63 142 109°
Chicago 17 22 «#1 5 40 112 136
St. Louis 16 21 4 4 40113 144
Columbus 16 24 2 3 37112 140
NORTHWEST W LOL SLPTS GF GA HOME AWAY |
Calgary 24 16 2 2 52 138 115 6-11-2-2 =
Vancouver 25 19' 0 1 51115 117 8-0-0 0-11-0-1 -10-
Minnesota 24 19 O 3 51 131 124 17-4-0-2 7-15-0-1 7-5-0-2
Colorado 22) 19: +2 1 47.140 129 11-10-1-1 11-9-1-0 9-5-1-0
Edmonton 21 20 2 2 46125 132 13-8-1-1 8-12-1-1 7-9-1-0
paciric «WoL OL SLPTS GF GA HOME AWAY DIV
Anaheim 30 9 2 6 68 162 117 16-3-1-4 14-6-1-2 10-3-0-1
San Jose 30 15 O O 60 141 106 15-8-0-0 15-7-0-0 10-8-0-0
Dallas 27: 18 «#40 1 55 123 113 14-8-0-0 13-10-0-1 13-5-0-0
Phoenix 21 22 1 1 44125 153 12-10-1-0 9-12-0-1 6-11-1-1
Los Angeles 16 25 3 3 38133 170 11-10-3-3 5-15-0-0 6-13-0-2

Note: Two points for a win, one point for a tie and overtime loss

RESULTS AND SCHEDULES

Monday’s results Today’s games Sunday’s results

Carolina at Florida, 7:30
L.A. at Atlanta, 7

Tampa Bay 4, Islanders 3 Minn. 4, Chicago 3, SO
Boston 3, Buffalo 2 (SO)
Phoenix 5, St. Louis 4 (SO)
Dallas 3, L.A. 1

Nashville 5, Calgary 3
Detroit 2, Montreal 0
Colorado at S.J., late

Islanders at Pittsburgh, 7
Vanc. at Montreal, 7:30

Col. at Chicago, 7:30

Wash, at Ottawa, 7:30
Toronto at Tampa Bay, 7:30
Rangers at New Jersey, 7:30
Edmonton at Minnesota, 8
St. Louis at Anaheim, 10

BASEBALL

Associated Press

NEW YORK — Dontrelle

Willis got what figures to be
one of several big raises the
Florida Marlins will give out
this winter.

The 2003 NL Rookie of the
Year agreed Monday to a
$6.45 million, one-year con-
tract, an increase of $2.1 mil-
lion.

“?’m very happy,” Willis
said. “How can you not be?
I’m very appreciative to go
out and have the opportunity
to play baseball.”

Willis was married in
December, and his wife is
expecting a girl in May.

“It’s a beautiful thing,” he
said. “It’s something you can’t
fathom, but you’d better get
used to it.”

Willis went 12-12 last year
with a 3.87 ERA in 223 1-3
innings for the Marlins, whose
opening-day payroll was a
major league-low $15 million.
Miguel Cabrera, eligible for
arbitration for the first time,
could. get a raise from
$472,000 to the $6 million
range.

Cabrera and the rest of the
players who haven’t settled
will exchange proposed arbi-
tration figures with their
teams today. Hearings will be
scheduled for next month.

Batting champions Joe
Mauer and Freddy Sanchez,
AL MVP Justin Morneau
and pitcher Carlos Zam-
brano are among those set to
swap figures.

Among the 106 players
who filed, at least nine
reached agreements by Mon-
day night.

First baseman Lyle Over-
bay and Toronto finalized a
$24 million, four-year con-
tract.

“I knew we had a good
thing, a great clubhouse. We
signed Vernon Wells. That
was a big part of it,” said
Overbay, who set career highs
with a .312 average, 22 homers
and 92 RBIs last season.

Wells, Toronto’s Gold
Glove center fielder, agreed
last month to a $126 million,
seven-year extension through
2014. General manager J.P.
Ricciardi also has signed Roy
Halladay, A.J. Burnett, B.J.
Ryan, Troy Glaus and Frank
Thomas to multiyear con-
tracts

' “We think there is a core
nucleus here that is built
really for ’07 to 10,” Ricciardi



Willis gets $6.45 million

JOHN AMIS/AP

HIGH-PRICED MARLIN: Florida Marlins’ Dontrelle Willis
delivers a pitch against the Atlanta Braves during their
Sept. 15 game in Atlanta. He agreed Monday to a
one-year contract with the Marlins worth $6.45 million,
a hefty salary for the team with the lowest payroll in
the major leagues by far last year.

said.

“We're just trying to keep
as good a group together as
we can,” the general manager
added.

Outfielder Jason
Michaels and the Cleveland
Indians reached a preliminary
agreement on a $4.25 million,
two-year contract. Because he
must pass a_ physical,
Michaels will exchange fig-
ures with the team.

Catcher David Ross and
the Cincinnati Reds agreed to
a $4.5 million, two-year con-
tract.

Agreeing to one-year deals
were Los Angeles left-hander
Mark Hendrickson
($2,925,000), Houston
infielder Mike Lamb ($2.7

million),. Philadelphia right-
hander Ryan Madson ($1.1
million), Texas right-hander
Joaquin Benoit ($1.05 mil-
lion); San Diego catcher Josh
Bard ($1.05 million) and
Cleveland reliever Matt
Miller ($560,000).

Among free agents, utility-
man John Mabry agreed to a
minor league contract with
the Colorado Rockies.

Right-handers Aaron Har-
ang and Kyle Lohse also
filed for arbitration last week
and are set to swap proposed
salaries with the Reds today.

Cincinnati also agreed to a
minor league contract with
pitcher Paul Wilson, who
was invited to attend spring
training.



om






SECTION

business@tribunemedia.net

@ By NEIL HARTNELL
Tribune Business Editor

he Bahamas
could boost the
contribution its

financial services .

industry makes to
national gross domestic prod-
uct (GDP) “by 10 per cent
within the next 10 years”, the

Financial Services Consulta-

tive Forum’s chairman said
yesterday, but first needs to
convince its citizens that the

TUESDAY, JANUARY 16, 2007



@ BRIAN MOREE

1

benefits from such an expan-
sion will “trickle down” to
them.

Brian Moree, who is also
senior partner with McKinney,
Bancroft & Hughes, said the
Bahamian financial services
industry was at a crossroads.
He added that both the Gov-

The Tribune

BUSINESS

Miami Herald Business, Stocks, Analysis, Wall Street





ernment and private sector -
and the wider public - needed
to develop a consensus on
what they wanted from the sec-
tor, and the strategies and poli-
cies required to achieve the
ultimate objectives.
Mt Moree asked: “Do we
want to tread water, basically





Dwi



maintaining the current posi-.
tion, of the industry contribut-
ing between 15-20 per cent of
GDP?

“Or do we want to achieve
quantum growth in this indus-

try, where in 10 years we .

increase its contribution to
GDP to 25-30 per cent?



HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE

Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010



- ‘We can boost financial sector’s
GDP share by 10’

a

o in 10 years’

orum chair asks whether Bahamas wants sector to ‘tread water’ or raise GDP
contribution to 25-30%; says Bahamians must be convinced of benefits first —

“I think we can have this
rate of growth without having
to spend hundreds of millions
of dollars. L.réally think this
industry, while it has served
our country extremely well and

SEE page 8B

Travel agents ‘confused’ Auditors question Freeport Concrete as ‘going concern’
on Baha Mar hotels — og, |

@ By CARA BRENNEN
BETHEL nite
Tribune Business
Reporter at the 2007

. Caribbean Marketplace
conference =e

ARUBA — Developers

behind the $2 billion Baha

Mar investment at Cable.
Beach need to do: more to’;

generate “some excitement
for the resort”, a travel indus-
try chief said yesterday.
John Hanratty, chief mar-
keting officer at one of the

US’ largest tour operators, .

Travel Impressions, said the
project to revitalise the Cable
Beach Strip had generated
some concerns among travel
agents, who were unsure

$2bn Cable
- Beach project
must generate
‘some excitement’

about how to market the
development.

“There is confusion about
the development that is going
to replace the Radisson and
the other hotels,” he told The
Tribune after a press confer-
ence at Caribbean Market-
place.

SEE page 16B

anole

‘Last 12 months

@.By NEIL HARTNELL
Tribune Business Editor

AUDITORS of Freeport Concrete, the
BISX-listed retailer and concrete pro-
ducer, were yesterday said to have raised
serious questions as to whether the com-
pany was a ‘going concern’, as its current
liabilities exceeded current assets by more
than $1m million at fiscal 2006 year-end.

That was the position on August 31,
2006, and the company has continued in
business since, with its two Freeport-based
Home Centre outlets and concrete plant.

_ However, sources said the company’s
financials, which were firially signed off by
auditors KPMG last week, drew share-
holders’ attention to the fact that based on
current assets and current liabilities,
Freeport Concrete was technically insol-
vent as at the balance sheet date.

It is understood that Freeport Concrete
has sent a letter accompanying its 2006
year-end financial to shareholders, in a
bid to reassure them that results have

2006 year-end liabilities exceed assets by $1m

since picked up.

The Tribune revealed last week that
Freeport Concrete would make an almost
$2 million loss for the year ended on
August 31, 2006, with its gross profit in the
fourth quarter taking a hit from the
delayed opening of its new Home Centre
Superstore on Freeport’s Atlantic Drive.

The loss had.been blamed on “the sig-
nificant costs associated with the transi-
tioning of the company’s stores, and
reduction in inventory value due to obso-
lescence, damage and shrinkage”.

Freeport Concrete, according to

sources, is arguing that the new Home.
Centre store has helped the company-to.

generate an operating profit through

almost the first five months of fiscal 2007.:

In addition, it will not incur all the costs
this fiscal year that were associated with
the new store last year, plus the purchase

® By NEIL HARTNELL
Tribune Business Editor

THE Bahamas could exploit

of additional product and write-downs
largely associated with old inventory.
Meanwhile, The Tribune was told that
the KPMG auditors also drew attention to
the fact that Freeport Concrete was not in
compliance with its banking covenants at ;
the August 31, 2006, balance sheet date.
And the company was also said to have
made no provision in its 2006 results for a
Supreme Court case it is embroiled in
with the Comptroller of Customs and his
department.
The case stems from the Customs
Department’s demand for the payment
of duties; said to be worth some $750,000, *
on the ‘bonded’ goods being displayed on
retail shelves in the new Home Centre.
Sources said Freeport Concrete had

SEE page 7B

Exploit tourism, financial
synergies ‘more effectively’

Forum chair says
Bahamas must market -
structures, not products

asst

. Average Annual aT - Os
Since Inception February 1999

*Stock prices can,go, down as well as up.. Past. performance is no guarantec of future results, Read the Offering Memorandum CRTC AUT bal COKIN COUR ENC

ene ae
Choose Fidelity

*

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the synergies vetween its
tourism and financial services
industries “much more effec-
tively” to grow the latter, the

Financial Services Consultative.

Forum’s chairman told The
Tribune yesterday.

Brian Moree, senior partner
at McKinney, Bancroft &

SEE page 9B

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THE MIAMI HERALD | MiamiHerald.com

NBA STANDINGS

EASTERN CONFERENCE





SOUTHEAST W L_ Pct. GB L110 Str. Home Away Conf
Orlando 22 16 «4579 - 55 L2 146 8-10 12-9
Washington 21 16 .568 % 6-4 W-1 15-3 6-13 13-9
Miami 17 19 472 4 5-5 W-4 89 9-10 6-10
Atlanta 12 23 .343 8% 3-7 W-2 7-10 5-13 8-14
Charlotte 12 24 333 9 5-5 L-l 7-12 5-12 9-14
ATLANTIC W L_ Pct. GB L10 Str. Home Away Conf
Toronto 18 21 462 - 5-5 W-1 10-6 815 13-8
New Jersey 17 20 .459 - 6-4 W-1 12-10 5-10 13-9
New York 17 22 .436 «1 «5-5 W-1l 10-11 7-11 10-13
Boston 12 25 324 5 2-8 L-5 4-13 8-12 8-16
Philadelphia 10 28 .263 7% 3-7 L2 5-9 5-19 7-16
CENTRAL Wet _ Pct. GB Li0 Str. Home Away Conf
Cleveland 23 13 689 - 82 W-1 15-3 8-10 15-10
Detroit 21:15 «583 2 3-7 Ll 10-7 11-8 15-8
Chicago 22:17 564 2% 5-5 W-2 17-5 5-12 17-7
Indiana 20 18 526 4 55 L2 10-6 10-12 15-10
Milwaukee 17 20 .459 6% 4-6 W-l 9-6 814 7-15

WESTERN CONFERENCE





SOUTHWEST Ww lL. Pct. GB L10 Str. Home Away — _Conf
Dallas 31 8 795 - 9-1 W-4 17-3 14-5 21-6
San Antonio 27 12 «+6692 4 «66-4. L-l 14-6 13-6 18-7
Houston 25 13 + .658 5% 9-1 W-4 13-3 12-10 13-11
New Orleans 14 22 .38915% 3-7 W-2 8-10 6-12 6-16
Memphis 9 29 .23721% 3-7 L-2 7-12 2-17 4-16
NORTHWEST WL Pct. GB 10 Str. Home Away Cont
Utah 24 14 6632 - 4-6 L-4 14-4 10-10 16-8
Minnesota 20 16 .556 3 82 W-3 12-6 8-10 11-10
Denver 18 17 .514 4% 3-7 W-1 10-10 8-7 6-11
Portland 15 24 .385 9% 2-8 L-1 8-12 7-12 10-12
Seattle 14 25 .35910% 2-8 W-1 10-9 4-16 6-15
PACIFIC WL Pet GB 110 Str. Home Away Conf
Phoenix 28 8 778 - 9-1 W-9 17-3) 11-5 12-7
LA. Lakers 24 13 649 4% 64 W-1 17-4 7-9 15-7
Golden State 19 20 .48710% 5-5 W-1 15-7 4-13 13-13
LA. Clippers 17 21) «4.447 «12)«5-5 «OL-2) 12-7 5-14 11-16
Sacramento 14 21 + .40013% 3-7 L-6 10-11 4-10 8-15
RESULTS AND SCHEDULES
Monday’s results Tonight’s games Sunday’s results

Miami at Lakrs, late
Wash. 114, Utah 111
N.Y. 102, Sacramento 97
Milwaukee 99, Char. 91
Atlanta 100, Boston 96
Chicago 99, S.A. 87
Toronto 104, Phil. 86
NJ. 105, Indiana 95
Minn. 94, Detroit 90 (OT)
G.S. 108, Clippers 93
Pho. at Mem., late

Orl. vs. N.O. at Ok., 8
Hou. at Dal., 8:30
Cle. at Sea., 10

Dallas 97, Toronto 96
Denver 109, Portland 93

SPORTS ROUNDUP

Hall sets a
record in
marathon

Associated-Press

HOUSTON — For-
mer Stanford star Ryan
Hall set a North Ameri-
can record in the
Aramco Half Marathon
and USA Half Marathon
championship on Sun-
day.
The 24-year-old from
Mammoth Lakes, Calif.,
won in 59 minutes, 43
seconds to best the
1:00:55 that Mark Curp
ran in Philadelphia in
1985.

Feyisa Tusse took
home the men’s title in
the Chevron Houston
Marathon and Dire
Tune captured the
women’s race.

Tusse, a 23-year-old
from West Chester, Pa.,
finished in 2:11:39.

Tune, also from West
Chester, set a course
record in 2:26:52.

Elva Dryer, 35, of
Gunnison, Colo., won
the women’s half-mara-
thon in 1:11:42.

ELSEWHERE

e Yachting:
Defending America’s
Cup champion owner
Ernesto Bertarelli
sailed Alinghi to second-
and first-place finishes
Monday, taking the lead
in the Farr 40 class at
the Key West 2007
regatta.

“As usual in this
sport, the team that
makes the fewest mis-
takes tends to win.
Alinghi is awesome in
that regard,” said John
Demourkas, skipper of
second-place Farr 40
Groovederci.

“Their tacks are
crisp, their mark-round-
ings are sharp and that
ultimately grinds you
down,” said Demourkas,
of Santa Barbara, Calif.

The five-day regatta
off the Florida Keys con-
cludes Friday.

e Car racing: Jean-
Louis Schlesser of
France won. the ninth
stage of the Dakar Rally
in Nema, Mauritania,
while Stephane Peter-
hansel took the overall
lead.

Schlesser, driving a
Schles-Ford-Raid, fin-
ished the 307-mile trek
from Tichit to Nema in 5
hours, 32 minutes, 3 sec-
onds.

He was 13 seconds
ahead of defending
champion Luc Alphand
and 4:14 ahead of Peter-
hansel, who both drove
a Mitsubishi.

Giniel de Villiers of

‘South Africa, who cap-
‘tured the eighth stage

and was the overall
leader, had an engine
fire a quarter of the way
through and was towed
to the finish.

The 15-stage race
ends Sunday in Dakar,

Senegal.
e Cycling: The
DNA of former Tour de

France winner Jan UIl-
rich could be compared
to blood samples seized
in the Spanish doping
investigation.

Bonn district attor-
ney Fred Apostel said

- Monday: that Spanish

authorities have agreed
to hand over one of the
bags of frozen blood
found in last April’s raid
on a Madrid clinic
linked to alleged doping
of up to 57 cyclists.

Ulirich and Italy’s
Ivan Basso were
among the riders barred
from last year’s Tour de
France.

“We will have the
blood bag out of Spain
very soon — it could be
next week or the start of
February,” Apostel said.

Ullrich provided a
saliva sample in Septem-
ber, according to Ger-
man media reports.

But Ullrich’s attor-
neys could refuse to let
the cyclist’s saliva sam-
ple be compared.

And court proceed-
ings, including an UII-
rich appeal, could delay
the testing.

“In a worst-case sce-
nario, that could take

‘two years,” Apostel said.

e Obituary: Jules
S. Bacon, who won the
Mr. America bodybuild-
ing competition in 1943,
has died at 89.



|





PRO BASKETBALL | ETC.

NBA | DETROIT PISTONS

Webber to return

BY LARRY LAGE
Associated Press ;

AUBURN HILLS, Mich. —
Chris Webber will sign with the
Detroit Pistons, returning to the
area where he starred in college
and was tarnished in a booster
scandal.

The five-time All-Star was
waived by the Philadelphia 76ers
last week. He becomes an unre-
stricted free agent after clearing
waivers today, freeing him to
sign a new deal.

“Joining the Pistons will allow
me the opportunity to play the
game I love in my hometown of
Detroit surrounded by my fam-
ily,” Webber said in a statement
Monday.

Webber watched the Pistons
play the Minnesota Timber-
wolves with his father, Mayce, in
front-row seats at The Palace
and was greeted by a standing
ovation late in the first quarter.

“We think Chris is going to be
a great fit for the way we play,”
Detroit coach Flip Saunders said
Monday.

“The guys are excited, I’m
excited and the town’s going to
be excited,” Saunders added.

The 76ers cut ties Thursday
with Webber by buying out the
final 1% years of his contract,
which called for him to make
nearly $21 million this season and
$22 million next year.

Webber is coming back to
familiar territory. He was born in
Detroit and was one of the
nation’s outstanding college
players at Michigan, leading to
him being the No. 1 pick overall
in 1993.

His accomplishments, how-
ever, were clouded by his ties to
a booster that resulted in federal
charges against him and NCAA
sanctions against the university.

Webber, who was regularly
booed at The Palace before Mon-
day, wants.to contribute to a con-
tender, and Detroit gives him a
chance to do that.

“I look forward to joining a
roster of talented athletes and
working towards a fourth NBA
title for the Pistons and the great
city of Detroit,” he said.

Webber, 6-foot-10, could start
at center next to power forward
Rasheed Wallace. The Pistons
have the second-best record in





the Eastern Conference and are
the first team since the early
1990s to advance to four straight
conference championships.

Center Nazr Mohammed, who
lost his starting job last week,
said he wants out if the Webber
acquisition leads to him being
used even less off the bench.

“1m not the type of guy that
can sit on the bench happy. I
came here to play,” said Moham-
med, who came to Detroit as a
free agent last summer after Ben
Wallace left for Chicago. “If ’m
not in the plan, I would ask for a

trade.”

Webber missed ll of the last 14
games, officially with foot and
ankle injuries, in Philadelphia.
But the 33-year-old player had
become frustrated with his
reduced role on a team with the

INTERNATIONAL EDITION

TUESDAY, JANUARY 16, 2007 | SE





BY DUANEBURLESON/AP

PRODIGAL SON: Chris
Webber, above left, sits
with his father, Mayce,
during the Detroit
Pistons game against
the Minnesota
Timberwolves on
Monday in Auburn Hills,
Mich. At left, a Pistons
fan shows her
appreciation for the
hometown hero.

second-poorest record in the
league. He averaged ll points and
8.3 rebounds in 18 games.

Webber has career averages
of 21.4 points and 10 rebounds
and in his prime, he was one of
the NBA’s ‘top players. Sacra-
mento gave him a $123 million,
seven-year contract in the sum-
mer of 2001. ;

Last season, Webber proved,
he could still produce. He aver-
aged 20.2 points and 9.9

rebounds in 75 games — the most

he played since the 1999-00 sea-

son with the Kings. Webber said.
in training camp he was feeling

as strong physically as he had
since surgery on his left knee in
2003.

Webber has learned to play
without the eye-popping explo-
siveness of his prep and college

home

days. He won state high school
titles at Detroit Country Day and
led Michigan’s Fab Five” to
NCAA championship games in
1992 and 1993.

But he is vilified by some for
his involvement with deceased
Michigan booster Ed Martin.
Webber was booed when intro-
duced before a playoff game.
against the Pistons two years
ago, but not as loudly as in previ-
ous Visits. —

Michigan took down the ban-
ners Webber helped the Wolver-
ines earn as part of its punish-
ment and removed his name and
likeness from its media guide and
basketball arena. In 2003, the
NCAA also forced the school to
dissociate itself for 10 years from
Webber and the other former
players involved in the scandal:
Maurice Taylor, Robert Traylor
and Louis Bullock.

“All of that hurt,” Webber told
The Associated Press two years
ago. “But I still love the Univer-
sity of Michigan.”

Webber pleaded guilty to a

federal criminal contempt charge

in July 2003, a day before jury
selection was scheduled to start
for his trial on a perjury charge.
He was ordered in 2005 to pay a
$100,000 fine after he completed
330 hours of community service.
‘Webber acknowledged lying
to a grand jury in 2000, when he
said he didn’t recall giving
money to Martin. Webber also
admitted that he gave Martin
about $38,000 in cash in 1994 as
partial repayment for expendi-
tures Martin made on his behalf.
Martin, who died in 2003 at
69, pleaded guilty in 2002 to con-
spiracy to launder money and
told federal prosecutors he took
gambling money, combined it
with other funds and lent
$616,000 to Webber and three
other Michigan players. Martin
said he gave Webber and his
family $280,000 from 1988-93, a

“period extending from his fresh-
Ian year in high school through

his sophomore season with the

“Wolverines.

Because of NCAA violations
connected to the case, Michigan
was not eligible for postseason
play for two years, lost scholar-
ships and was placed on proba-
tion.

PRO BASKETBALL

Bulls run past Spurs 99-87

From Miami Herald Wire Services

CHICAGO — Kirk Hinrich had 23 points
and 10 rebounds and Ben Gordon scored 20
to lead the short-handed Chicago Bulls past
the San Antonio Spurs 99-87 on Monday
afternoon.

Tim Duncan had 21 points and 16
rebounds for the Spurs, who had a four-game
winning streak snapped. Manu Ginobili
scored 22 for San Antonio.

The Bulls played without Chris Duhon
and Ben Wallace. Duhon was suspended for
one game for missing practice on Sunday and
Wallace missed his second consecutive game
because of a sore back.

SUNS 137, GRIZZLIES 122

MEMPHIS, Tenn. — Amare Stoudemire
scored a season-high 42 points and grabbed
nine rebounds to lead the Suns.

Stoudemire shot 15-of-21 from the field
and 12-of-13 from the line as six Suns finished
in double figures.

KNICKS 102, KINGS 97

NEW YORK — Jamal Crawford, back in a
reserve role, scored eight of his 10 points in
the final 1:07 as the Knicks handed the Kings
their season-high sixth consecutive loss.

Stephon Marbury scored 25 points and
Eddy Curry added 24 points and 10 rebounds
for the Knicks, who won for the fourth time
in five games. David Lee finished with 15
points and 12 boards.

Kevin Martin scored 30 points for Sacra-
mento.

BUCKS 99, BOBCATS 91

CHARLOTTE, N.C. — Earl Boykins
scored 30 points and Andrew Bogut added a
career-high 27 points and 11 rebounds to lead
the banged-up Bucks.

The Bucks, minus four starters, snapped a
five-game losing streak behind the 5-foot-5
Boykins, acquired from Denver last week.

Boykins’ 3-pointer with 4 minutes left
snapped a tie and put Milwaukee ahead to
stay. His shot in the lane with 1:46 left gave
the Bucks a 94-88 lead.

Matt Carroll scored 22 points, all but two
in the first half for Charlotte.

T’WOLVES 94, PISTONS 90 (OT)
AUBURN HILLS, Mich. — Kevin Garnett



NAM Y. HUH/AP
AN EASY BUCKET: Bulls forward Tyrus
Thomas throws down two points while
Spurs forwards Robert Horry, left, and
Tim Duncan can only watch Monday.

had 19 points and 14 rebounds, Ricky Davis
scored 21 and Mark Blount made a key
3-pointer to give the Timberwolves the over-

' time victory.

Blount’s 3-pointer — just his fourth of the
year — beat the shot clock with 12.8 seconds
left to give Minnesota a 92-88 lead.

Richard Hamilton, who scored 32 points,
made two free throws on the ensuing posses-
sion to pull the Pistons within two before
Garnett sealed the victory at the line.

NETS 105, PACERS 95

EAST RUTHERFORD, N.J. — Vince
Carter scored 31 points, Jason Kidd added 19
and narrowly missed his second triple-dou-
ble in three games and New Jersey defeated
Indiana.

With Toronto’s 104-86 victory over Phila-
delphia on Monday afternoon, New Jersey
remained percentage points behind the first-
place Raptors in the Atlantic Division.

Al Harrington led Indiana with 18 points.

HAWKS 100, CELTICS 96

ATLANTA — Atlanta recovered after
blowing a 14-point lead and beat Boston, giv-
ing the Hawks back-to-back victories for the
first time since the first month of the season.

Atlanta’s Josh Childress blocked a 3-point
attempt by Gerald Green with 3.9 seconds
remaining, and Zaza Pachulia made two free

. throws with 2.1 seconds left to preserve the

victory.

RAPTORS 104, 76ERS 86

PHILADELPHIA — Chris Bosh scored 27
points and Joey Graham had 18 to lead the
Raptors.

Anthony Parker scored 18 points, and T.J.
Ford had 13 points and 10 assists for the Rap-
tors, who used a pair of 14-0 runs to make
easy work of the worst team in the Eastern
Conference.

Andre Iguodala led the Sixers with 15
points, and Samuel Dalembert and Willie
Green each scored 13.

WARRIORS 108, CLIPPERS 93

OAKLAND, Calif. — Baron Davis had 19
points, 13 assists and keyed a big fourth-quar-
ter run that led the Warriors over the Clip-
pers.

Davis, who shot just 4-for-18 from the
field, had four points, two assists and a big
steal during the 19-2 run that gave the, War-
riors a 100-85 lead midway through the
fourth quarter and helped them snap a three-
game losing streak.

ELSEWHERE

e Grizzlies: The deadline passed Mon-
day for a potential ownership group led by
former Duke players Brian Davis and Chris-
tian Laettner to purchase control of the Griz-
zlies, and Michael Heisley, the team’s major-
ity owner, said he’s open to other offers.

LATE SUNDAY

e Nuggets 109, Trail Blazers 93: Allen
Iverson scored 32 points and Steve Blake
added a career-high 25 to lead visiting Den-
ver. Iverson added nine assists for the Nug-
gets, who trailed at halftime but outscored
the Blazers 41-17 in the third quarter. The vic-
tory snapped a two-game skid for Denver.



PAGE 12B, TUESDAY, JANUARY 16, 2007

7. Related party transactions

During 2004, a director and a company related to this director granted two loans to
the Company totalling B$238,675. The loans incur interest at 9% per annum and are
repayable in 5 years with monthly instalments of B$4,955 including interest and are
included in the balance sheet as long-term debt. Refer to note 11.

Directors of the Company and their immediate relatives control approximately 43%
(2005: 43%) of the voting shares of the Company.

The Company rents administrative office space from a related party as described in
note 14 (a) “Administrative offices”.

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

enn CENCE

7. Related party transactions, continued
As more fully described in note 14 (a) “New Home Centre Lease”, the Company
entered into a lease agreement in July 2005 with a company related to the founding
shareholder, in respect of the premises to where the Company relocated its retail
operations in August 2006.
The Company used the services of H&F Babak Construction Company Limited to
complete certain leasehold improvements. These leasehold improvements are
included in property, plant and equipment in note 8. This company was owned by the
founding shareholder as of the balance sheet date. Payments for such services —
amounted to B$441,976 (2005: B$74,595).

Sales to entities related to the founding shareholder during the year ended August
a 31, 2006 amounted to B$976,122.

H Total executive remuneration including employee benefits and commissions
N amounted to B$248,600 (2005: ‘B$602,194) and is included in the statement of
| operations in payroll related costs.

An executive officer of RH was paid a commission of 3% of sales made by RH which
amounted to B$Nil (2005: B$245,085) and is included in the executive remuneration
shown above.

Directors and non-executive officers fees included in other operating costs in the
statement of operations amounted to B$35,000 (2005: B$35,000).

A Company owned by the founding shareholder has provided security up to
B$250,000 for the Company's bank loan and overdraft. The security includes two
parcels of beach front property located in Freeport Lucaya.

As of August 31, 2006, trade receivables due from related parties amounted to
B$411,154 (2005: B$58,759). These amounts are due from H&F Babak -
Construction Company Limited.

Freeport Concrete Company Limited
Notes to Financial Statements, Continued :

Year ended August 31, 2006
(Expressed in Bahamian dollars)

NY
8.. Property, plant and equipment

Cost/valuation:

2005 Additions Disposals 2006

Land (at directors’ valuation) B$ 1,521,000 - - 1,521,000
Plant 734,879 33,045 - 767,924
Heavy equipment 1,000,367 31,117 577 1,030,907
Automobiles 326,324 91,154 54,969 362,509
Trailers and security booth 77,301 3,923 - 81,224
- Store furniture and equipment 361,720 130,034 - 491,754
Office furniture and equipment 159,667 101,870 320 261,217
Leasehold improvements 363,783 582,962 = 946,745

BS 4,545,041 974,105 55,866 . §,463,280

* Accumulated depreciation:

Depreciation

2005 charge — Disposals 2006
Plant BS 510,780 28,763 - 539,543
Heavy equipment : 514,388 . 168,776 - 683,164
Automobiles . 144,101 62,036 45,344 160,793
Trailers and security booth 23,364 12,357 - 35,721
Store furniture and equipment 212,133 51,993 - 264,126
Office furniture and equipment 96,081 50,780 - 146,861
Leasehold improvements . 47,192 198,648 - 245,840

BS 1,548,039 $73,353 45,344 2,076,048

Net book value:

2006 2005

Land B$ 1,521,000 1,521,000
Plant 228,381 224,099
Heavy equipment. : 347,743 485,979
Automobiles 201,716 182,223
Trailers and security boots : 45,503 53,937
Store furniture and equipment 227,628 149,587
Office furniture and equipment 114,356 63,586
Leasehold improvements ; . 700,905 316,591
B$ 3,387,232 2,997,002

The directors’ valuation of land is based on an appraisal as of March 29, 2005 by Mr.
Bert E. Lightbourne, Member of The Bahamas Real Estate Association and the
American Society of Professional Real Estate Appraisers, of Freeport, Grand
Bahama, of the market value of the land. The excess of this valuation over the cost of
the land is reflected as “appraisal excess” in the balance sheet. The land comprises
126.75 acres located in the East Airport Zone of Freeport, Grand Bahama, and is
intended to be used by the Company for future quarrying operations. The carrying
value of land had it not been appraised would be B$87,133.

During 2002, the Company acquired a used portable concrete batch plant from the
founding shareholder. The plant was not in use during the year and has a carrying
value at August 31, 2006 of B$17,683 (2005: B$22,019).

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

LS

8. Property, plant and equipment, continued

Depreciation expense on certain plant assets and equipment amounting to
B$244,342 (2005: B$230,373) has been included in cost of sales.

As described in note 13, certain of the Company's property, plant and equipment with
a net book value of B$475,595 were damaged by hurricanes and fire in the prior year
and have been recognised as an impairment loss in the 2005. statement of
operations.

9. Bank overdraft

The bank overdraft bears interest at 7.5% (2005: 7.5%) per annum and is secured as
described in note 11. The overdraft facility limit is B$1,770,000 (2005: B$1,000,000).

10. Accounts payable and accrued expenses

Accounts payable and accrued expenses comprise the following:

: :

2006 2005



Accounts payable B$ 2,999,650 2,170;785
Accrued expenses 734,977 621,131.

B$ 3,734,627 ~ § 2,791,916

a SE

11. Long term debt

pe SS



2006 ~ 2005
Bank loan : BS 471,148 497,598. ..°
Loan from related party -153,015 196,413
624,163 694,011
‘Less: current portion (183,710) (177,788)
BS 440,453 516,223

The bank loan bears interest at B$ prime rate plus 2.75% (8.25% at August 31,
2006) and is repayable by June 2012 with monthly instalments of B$14,140 including
interest. The bank loan and overdraft facility are with the same bank. The bank loan
and overdraft are secured by a first floating charge debenture stamped for
B$2,640,000 over the Company's land and all of its business assets. A Company
owned by the founding shareholder has provided security up to B$250,000 for the
Company's bank loan and overdraft. The security includes two parcels of beach
front property located in Freeport, Lucaya.

As described in note 14 (e), as of August 31, 2006, the Company was not in
compliance with various debt covenants relating to its bank loan and overdraft.

The loan from related party as more fully described in note 7, bears interest at 9%
per annum, is unsecured and is repayable in 5 years with monthly instalments of
B$4,955 including interest.

THE TRIBUNE BUSINESS

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006

(Expressed in Bahamian dollars)

II

12. Sale of investment in RH

On August 16, 2005, the Company entered into an agreement to sell its 90%
shareholding interest in RH. The effective date for the sale was August 31, 2005.

The sales price for the shares was B$571,500, and a total of 70% of the shares in
RH were sold to an executive and an employee of RH.

As part of the transaction to sell the RH shares, the Company agreed to forgive
repayment of B$836,221 of the B$1,414,721 debt due by RH to the Company as of
August 31, 2005. Accordingly, the balance due to the Company by RH at August 31,
2005 was B$578,500.

The net effect of these transactions is as follows: ;
2005





Sales price of RH shares BS 571,500
Carrying value of investment in RH at August 31, 2005
(net shareholders deficit) before forgiveness
of debt of B$836,221 due to the Company by RH 884,900
: 1,456,400
Receivable due to the Company by RH forgiven at August 31, 2005 (836,221)
Net:gain on sale of RH BS 620,179

The net carrying value of RH’s assets and liabilities at August 31, 2005 (net
shareholders deficit of RH) after forgiveness of debt of B$836,221 due to the

Company by RH was as follows:
2005





Cash BS 16,158
Time deposit 20,000
Accounts receivable, net 449,910
Inventories 1,322,413
Inventory of spare part and supplies 23,579
Deposits and prepayments 17,332
Property, plant and equipment 276,136
Accounts payable and accrued (1,576,249)
Warranty provision (19,458)
Due to the Company : (578,500)
BS (48,679)

ee

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August.31, 2006
(Expressed in Bahamian dollars)

ee

13. Insurance proceeds and impairment of assets

In September 2004 certain of the Company's inventory and property, plant and
equipment (PP&E”) were. damaged by hurricanes. As a result, management has
estimated the net book value of inventory damaged to be approximately B$1,263,610
and the net book value of the portions of the PP&E that were damaged to be
approximately B$471,669. These amounts have been recognised as a-loss and are
shown under inventory damaged by hurricanes and impairment of PP&E,
respectively in the statement of operations. The Company filed a claim with their
insurers which was settled and collected in full by December 2004. The amount
received net of the deductible was B$1,183,610 and B$114,939 for inventory and
P,P&E, respectively and is included in the statement of operations as insurance
proceeds.

in December 2004, the Company's concrete plant and office was damaged by a fire.
As a result, management has estimated the net book value of the portions of the
P,P&E that were damaged to be approximately B$3,926. These amounts have been
recognised as an impairment loss and are included in impairment of PP&E in the
statement of operations.. The Company filed a claim with their insurers which was
settled and collected in full by December 2004. The amount received was B$178,188
and is included in the statement of operations as insurance proceeds.

(a) Leases

Ready-mixed concrete operations

The Company was party to an agreement to lease approximately 25 acres of
land in the Heavy Industrial Area of Freeport for a 7% year period. Certain
limestone rock dredged from the Freeport Harbour has been deposited on this
land. The lease agreement expired on December 31, 2001. No new written
agreement has been executed between the Company and the landlord, however,
the Company continues to use the premises on a month to month basis.

The Company has received verbal assurance that they can continue to occupy
the land under similar terms of the old lease agreement. The Company intends to
re-locate its operations to premises of Bahama Rock Limited (“BRL”) and has
signed a lease for this purpose, as described in the “Lease agreement with BRL”
section below.

This limestone rock was used by the Company to produce sand and aggregate
which it uses to produce ready-mixed concrete. The rent payable is B$0.25 per
cubic yard of limestone rock utilised by the Company but in no event shall the
quarterly rent be less than B$2,000. Under the agreement referred to in the
preceding paragraphs, the Company is also required to pay B$2.25 per cubic
yard of limestone rock utilised with a minimum of B$18,000 per quarter. During
the prior year the Company ceased producing sand and aggregate and instead
purchased these materials from third parties.

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

8

ce

14. Commitments and contingencies, continued
(a) Leases, continued

Lease agreement with BRL

On May 9, 2005, the Company signed a 10 year renewable lease agreement
with BRL with an intention of moving its concrete plant operations and to
commence a block plant. At August 31, 2006, the Company had commenced its
block plant at the said premises and are yet to re-locate their concrete plant.

Under the lease agreement, the Company is committed to purchase all.
aggregate products needed for production of ready mixed cement and blocks
from BRL.

Rent is payable at a base rate of $1 per annum in advance commencing on June
1, 2006. In addition, the Company will pay BRL an annual license fee of
B$7,500.

Hardware and consumer products operations

In August 2001, the Company entered into a lease agreement whereby it agreed
to lease the premises for its retail merchandising operation on Peel Street in
Freeport, Grand Bahama for a period of 10 years with an option to renew for
another 10 years. The Company was granted the option to purchase the
premises. The option is exercisable on August 15, 2005 and at the end of every
twelve month period thereafter during the continuation of the lease. The
purchase price is to be B$3.5 million less 2% per annum starting from June 1,
1998. The Company has assigned this option to a shareholder.

The lease called for monthly lease payments with adjustments annually to reflect
the increase and decrease in the annual average of the United States Consumer
Price Index All Urban Consumers, US City Average for the preceding twelve
months but in no event to be less than B$306,000 per annum.

These premises were severely damaged by the hurricanes in September 2004
and it was agreed with the landlord to terminate the lease effective June 30,
2005. A new lease for the same premises was entered into from July 1, 2005 to
April 30, 2006 for $20,000 per month. Effective from May 1, 2006, it was agreed
with the landlord that the lease would be extended to August 31, 2006 at a rate
of $50,000 per month, and the Company can continue to occupy the premises
with no further liability from September 1, 2006 to December 31, 2006. The
Company agreed to vacate the premises effective December 31, 2006. Rent
expense incurred during the current year on this lease amounted to B$360,000
(2005: B$101,789)





PAGE 14B, TUESDAY, JANUARY 16, 2007



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AR

‘thy
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ee

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Full Text


PAGE 2, TUESDAY, JANUARY 16, 2007

THE TRIBUNE





How the parties go about
choosing their candidates |

A cconnine toa
front page story in

The Tribune last week, for-
mer PLP Cabinet minister
and veteran politician

- George Smith upset some of
his colleagues when he pub-
licly lectured them about the
kind of candidates they
should offer in the next gen-
eral election.

It was good advice for both
political parties but more so
for Mr Smith’s party because
of present circumstances. The
PLP was in a bind before the
last election because not too
many people thought the par-
ty stood a chance of winning.
Neither did they. So they
made many mistakes.

They accepted a lot of
money from one particular
gentleman, not expecting that
they would be called upon to
meet his special demands in
the matter of a bank licence
that had been revoked. That
came back to haunt them
almost immediately.

They made some platform
promises apparently without
carefully considering whether
they could fulfill them once
in office. — ;

One of these promises
related directly to quality of
representation. That was the
commitment to create “a new
style of House of Assembly
committees Which will hold

public sessions before major .

pieces of legislation receive
final passage.”

Not one such committee
was appointed, even though
there were many opportuni-
ties to do so, if only as a trial
run on a particular piece of
legislation. The indecently
rushed legislation for the pro-
posed National Health Insur-
ance was a great opportunity.

The PLP also promised
constitutional reform and laid
out the process to be fol-



lowed. They were utterly
reckless and disingenuous
when they promised: “This
entire process of constitu-
tional reform, from start to
finish, can be achieved in one
year.”

They must have known
that was impossible. Even
after five years that process is
nowhere near completion.

One of the proposals
directly relating to general
elections was that “no
changes to constituency

boundaries are to be enter- —

tained within the six month
period preceding the consti-
tutionally-fixed date for gen-

-eral elections”.

Even without an amend-
ment to the Constitution or
relevant statute, the PLP gov-
ernment could have shown
good faith by at least trying
to stay within their own time-
frame, but they made no

effort to do that. The Bound-
aries Commission has yet to
report and the election is less
than six months away.

[ esienany it would be
nice if Bahamian
reporters would inform
themselves about the provi-

. sions of the Constitution and

legislation relating to the
date of a general election
before passing on inaccurate
information to the public. It
is not correct that the next
general election must be held
before May 2 this year, five
years after the date of the
2002 election.

The Constitution, Article
66 (3), says that Parliament,
unless sooner dissolved, shall
continue for five years from
the date of its first sitting
after any dissolution and
shall then stand dissolved.
Since this Parliament first
met on May 22, 2002, it will
stand dissolved on May 22
this year if the Prime Minis-
ter does not advise an earlier
dissolution.

The Constitution further
provides that writs for a gen-
eral election issued by the
Governor General are

. returnable within 90 days of

dissolution. However, the
Parliamentary Elections Act
brings it well within that peri-
od and sets the date for an
election at no less than 21
and no more than 30 days.
So the next election can
legally be held late in June,
but it is unlikely for any num-
ber of reasons that a prime
minister will take it to the
wire. Prime Minister Perry
Christie has already
announced that this year’s
will be held before May 2.

f our parliament is to
function as a modern

legislature then clearly the
political parties must offer
qualified candidates who,
should they be elected, will
be able to function as minis-
ters or to populate commit-
tees entrusted with oversight
of the executive and exami-
nation of proposed of legis-
lation.

Being qualified for the
political arena and for hold-
ing political office does not

necessarily mean having a

college degree. Some of our
most accomplished politi-
cians, including Sir Milo But-
ler and Sir Roland Symon-
ette, never saw the inside of a
university.

There are some in our par-
liament today with higher
education who seem inca-
pable even of reading a
speech convincingly, much
less engaging in real debate.

Neither does success in
other fields — the professions,
the arts, commerce — neces-
sarily amount to qualification
for politics. Qualification for
the political life need not be
the same mix in each indi-
vidual and can cover a wide
range of abilities, talents,

characteristics, knowledge |

and experience.
That is why the selection

of candidates by political par- -

ties is such an important
process, but a process with
guidelines and considerations
many of which defy being

reduced to writing.

In the present exercise, the
opposition has a decided
advantage over the govern-
ing party. The FNM has a
very small contingent of
incumbents with little or no
weeding out to do and a long
list of applicants from which
to make up a slate of 40 or

more. It is just the opposite ,

with the PLP. They have
much weeding out to do.
All political parties are

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coalitions of one sort or
another and tend to be frac-
tious. Differences in philoso-
phy can be a source of seri-
ous division; fights over the
selection of leaders can be
highly divisive with the selec-
tion of candidates running a
close second.

The processes in both
political parties are much the
same and it is not as simple
as, in the words of some com-
mentators, “giving the peo-
ple who they want”. Involved
in each case are the party
leadership, the constituency
branch, the candidates com-
mittee and the council of the
party.

All of these entities func-
tion as a series of sieves and,
while the common objective
is to win, there are often con-
flicting considerations. The
leadership has to think about
the appeal of the whole slate
nationally and about ensur-
ing that there is a sufficient
diversity of talent from which
to mount an effective admin-
istration in the event of vic-
tory.

The branch serves as the

party’s closest connection
with a constituency, and its
advice and consent are vital-
ly important. Without an
effective and committed con-
stituency organisation, the
chances of winning are just
about non-existent.

A candidate can be very
popular in a particular con-
stituency and still have a neg-
ative impact on the overall
slate. Back in the 1970s there
was a wealthy PLP applicant
who managed to ingratiate
himself with the branch but
about whom the party was
noi keen, and for good rea-

son. He got the nomination .

and won.

It can also be that there are
some things of a sensitive
nature that cannot be pub-
licly disclosed. The FNM had
a case where not even the
leadership was aware of a
particular propensity on the
part of one of its candidates.
He was nominated, won and
later became an embarrass-
ment. ,

Politicians, being human
like everybody else, some-
times succumb to the influ-
ence of personal animosities,
the pursuit of vendettas and
overweening ambition. °

In each case all of these
considerations are examined
in camera by the candidates
committee. At the end of the

_ day it is up to the council of

the party to sort it all out and
to settle any differences that
survive up to that stage.

The whole purpose of the
exercise is to give the elec-
torate the best possible
choice of a leader and slate
of candidates, and to give the
country the best possible rep-
resentation and governance
after the election.

sirarthurfoulkes
@hotmail.com
www.bahamapundit.
typepad.com

TROPICAL
Baa ity

FOR PEST PROBLEMS
PHONE: 322-2157



Cuba: Posada
should be
charged for
terrorism,

not just lying
B HAVANA .

CUBAN militant Luis
Posada Carriles must be
charged with terrorism, not
just with lying during U.S.
naturalisation proceedings,
the Cuban government said
Monday in criticising a
recent U.S. Justice Depart-
ment decision, according to
Associated Press.

"The U.S. government
knows very well — and has
all the proof — of the innu-
merable acts of terrorism
committed by Posada Car-
riles," the Foreign Ministry
said in the statement pub-
lished on the front page of
Granma, the Communist
Party's daily newspaper.

Posada, a former CIA
operative with ties to the
failed Bay of Pigs invasion
in the 1960s, is suspected of
plotting the bombing of a
Cuban jetliner 30 years ago
in Venezuela. He was
indicted last week in El

’ Paso, Texas, on charges of

lying on his application and

. under oath when applying

for naturalization to the
United States in September
2005 and April 2006.

The statement said the
foreign ministry hopes the
recent charges "won't
become a smoke screen to

_ extend immunity for the

serious crime of terrorism."

Cuba and Venezuela say
Posada, 78, should face trial
in the 1976 Cuban jetliner
bombing, either in
Venezuela or before an
international tribunal. But a
federal immigration judge
who ordered Posada out of
the United States ruled he
could not be sent to either
country.

Several countries have
rejected U.S. requests Posa-
da be sent there.

In last week's indictment,
Posada was charged with
one count of naturalisation
fraud and six counts of
making false statements in a
naturalization proceeding.

He said he traveled from
Honduras through Belize,
ultimately reaching the
United States near
Brownsville, Texas, with
the help of a human smug-
gler. But the U.S. indict-
ment alleges Posada actual-
ly entered the country by
sea on a boat with four oth-
er people.

The trip by sea was men-
tioned by Cuban President
Fidel Castro in a series of
speeches about Posada in
the spring of 2005. The
indictment shows that "the
U.S. government was
forced to admit that our
Commander in chief was
right," Monday's statement
said.

The indictment also says
Posada had a fake
Guatemalan passport bear-
ing his photograph and the
name Manuel Enrique
Castillo Lopez.

If convicted, Posada faces
a maximum of 10 years in
prison on the naturalisation
fraud count and five years
in prison on each of
the false statement
counts.

Cuba called for a more
serious punishment, saying
"the families of the victims
demand justice."

Posada has denied any
wrongdoing in the bombing,
which killed 73 people, or

_ any other attacks against

Cuban interests.

'
\





‘
«
s
3
in
wee

‘

PAGE 4, TUESDAY, JANUARY 16, 2007



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.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-199] ‘

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.

Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352
Circulation Department - (242) 502-2387
Nassau Fax: - (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348



Palestinian state not the answer

THE consensus of much of the. foreign
policy establishment is that a Palestinian
state is key to a redemptive outcome of the
failing American intervention in Iraq.

Secretary of State Condoleezza Rice is
journeying through the Middle East seeking
to revive stalled negotiations between
Israelis and Palestinians. And she is lever-
aging that effort with Saudi Arabia, Egypt
and Jordan to get them to provide more
hands-on help to keep Iraq and Lebanon
from falling under Iranian sway.

Former White House National Security
Adviser Brent Scowcroft has spoken out
about the nexus between what is not hap-
pening in the Israel-Palestine conflict and
what is happening in strife-torn Iraq. He
said the “great turmoil” afflicting the Middle
East is fed by “a great sense in the region of

historical injustice.” That “injustice” is, of .

course, the existence of the state of Israel.

New York Times columnist Tom Fried-
man quoted the editor of Al-Jazeera, the
Arab television broadcaster, as saying: “It
gnaws at the people in the Middle East that
such a small country as Israel, with only 7
million inhabitants, can defeat the Arab
nation with its 350 million. That hurts our
collective ego.”

That being so, would an independent state
of Palestine, adjacent to a secure Israel, suf-
fice to assuage the Arabs’ deep hurt, as
Scowcroft, the Iraq Study Group.and others
contend? |

Much of the evidence points to the fact
that it would not.

President Bill Clinton in 2000 was pressing
a compromise on the Israelis that would
have given the Palestinians all of Gaza and,
according to Dennis Ross, an American
adviser, 97 per cent of the West Bank.

Yasir Arafat rejected the deal and
launched the intifada that created the dete-
rioration that prevails to this day.

History has a way of overtaking the best-
laid plans, including the Road Map that the
U.S. and European Quartet plus Russia out-
lined.

When Israel decided to pull out of its
occupation of the Gaza Strip, it was seen as
a test of what would happen if Palestinians
were in charge of their own destiny. The
result was an assault by rocket fire on Israel

as various Palestinian factions competed for ,

prestige in continuing the attacks.



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This resembled what had happened when
Israel earlier withdrew from Lebanon after
occupying a southern strip for 18 years. The
result was the rise of Hezbollah, an instru-
ment of Iran.

Well-equipped and trained, it fought off
Israel in a 34-day war in which it had the
capacity to launch some 4,000 missiles,
increasing its stature in Lebanese politics.

In the Palestinian territories, the U.S.
insisted on democratic elections, bringing
Hamas to power. Hamas refuses to recog-
nize Israel or honour previous agreements
with Israel forged by the Palestinian Author-
ity. A fundamentalist movement, financed
and mentored by Iran, Hamas’ virtue was
incorruptibility in civic affairs compared to
the Palestinian Authority and Fatah, whose
rule spawned corruption and criminal gangs.

Thus, ironically, the very people who were
supposed to be disarmed under the terms of
the Road Map had attained political power
and expanded their militia.

Today bloodshed between the PA and
Hamas has left Gaza in the grip of daily ter-
ror and chaos. ;

In light of present realities, a Palestinian
state would not be the stable, independent,
democratic and peaceful entity envisioned.
Instead it would be an aggressive state con-
trolled by Hamas, adhering to its dedica-
tion to the destruction of Israel.

It would remain influenced and armed by ©

the rising ambitions of the Iranian leader-
ship, which has said that Israel should be
wiped off the map. Or it would be a state
controlled by the successors of Arafat pre-
siding over a melange of Mafioso godfa-
thers and warlords. inescapably under pres-
sure from Tehran through the Hamas move-
ment, a regime devoted not so much to
improving the lives of its citizens as to dis-
tracting them with continued terror attacks
on Israel.

Neither eventuality would contribute to
Middle Eastern stability. Even under its pre-
sent lightweight leadership, Israel would not
put up with it.

The outcome would not be a calmer Mid-
dle East sought by the analysts. The sore
would continue to fester.

(This article was written by
Harry Rosenfeld, editor-at-large of the
Albany, N.Y., Times Union c. 2006)





EDITORIAL/LETTERS TO THE EDITOR

NOTICE is .hereby given that LUCILE MENELAS OF
4TH STREET,THE GROVE AND ROBINSON ROAD,
P.O.BOX N-8161, NASSAU, BAHAMAS is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/

THE TRIBUNE —

In society |
we must fit

together |

EDITOR, The Tribune.

NO, MR PRIME MINIS-
TER. I say, “No!” to what
you said and didn’t know
you said.

But what is true for

Adam, your other children,
your wife and you, must be
true, not just for y’all, not
just for your family, it must
be true for the Bahamian
family — for this entire
country of which you’re
Prime Minister. We must
all have that right you

described — to the Good

Life — to life away from
nightmare.

This is what Gandhi
advocated for India. This
is what Christ and what I
advocate for mankind —
something in which we can
all participate fully and
equally. You are elitist oth-
erwise as people with edu-
cation, with affluence are
usually inclined to be.
Deceived, they see them-
selves among those who
have. The rest of us are
among the have-nots — the
unfortunate — the misbe-
gotten — les damnés de la
terre — the wretched of the
earth.

We though are all cells
of one body, literally — as
body politic implies and
means figuratively. But this
is how it is. Individuals and
families, like prisoners, all
live in cells. This though is
true for prime minister —
church minister — bank
manager. We all-live in
cells. But these are all cells
of one body —- the body
that’s: nation or the body
that’s mankind. We all
belong to. one species.
Place these cells in a sin-
gle organism Of this species
and we see the dynamics in
the species clearly.

Cut your toe or cut your
finger; bite your lip or
tongue; slip and fall or
buck your toe; catch a cold

or eat something which.

results in stomach upset or
diarrhea and the entire sys-
tem’s out of whack.

This is where you must
exist as Prime Minister or
as the lowliest person — as
this is what it means to be
human. Could you possibly
promote or advocate for
your body or in your body
— well cells and sick cells —

naturalization should not be granted, should: send a written
and signed statement of the facts within twenty-eight
days from the 16th day of January, 2007 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas.

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Ome

letters@triounemedia.net






rich cells and poor cells?
Whether that cell is in the
brain or in the bladder or
in the spleen (wherever
that is), it is equally signif-
icant to the well-being of
the body — of the body
politic or to the family of
man.

This is Christ’s message.
This is truth and cannot be
made or made to become
false in our present dis-
pensation. We are not now
living in heaven and hell
though many imagine we
are.

What*‘happened on that
ship to persons off to an
excursion was hell, Mr
Prime Minister. It was hell
and it was The Bahamas —
our Bahamas - your
Bahamas. But that is where
some in The Bahamas live
24/7 — in hell and that
should not. be, especially
not in such a small coun-
try.

But there are those — you
and I among them - who
want heaven for ourselves
and so what if others
catchin’ hell. Let them
catch hell eternally — is the.
attitude of some of us but
here and now - here an
earth — we want our bit of
heaven for ourselves and
for our families.

When one cell though is
sick, the entire body is
unwell. When one person’s
in prison or on an unsafe —
uninsured ship — just as we
were once in misery in
holds of ships — the entire
body suffers — in spite of
our buffers — in spite of our
imagined comfort zones.
Asses in vehicles with their
music loud come to mind,
imagining they’ve enclosed
themselves — imagining
they’re encased in a bub-
ble — traumatising whoever
is on the other side of their
wall of music.

The cells of our bodies -

like the cells we live in —
as family or as individual —
are encased in what are not
cases at all. Cells in our

bodies as well as we our-

selves, are walled in semi-
permeable membrane.
Osmosis is without end
occurring. And osmosis ‘is
the process by which a
weaker solution passes
through a semi-permeable
membrane into a stronger

~

‘
'

solution. Equilibrium is;

‘what is sought as well as

promoted in nature — in an

amoeba in a pond - in the,
human body — in society — ,
in the human family — in,
creation because as large

as creation is, it is one:
thing. It has one God who::
spoke it into being and:

who sustains it.

We, Mr Prime Minister’
are his agents or are we?
Some are paid to be. All:
are called to be — to create
harmony. Is this not what;'
music is — a fitting together ,
of sound? t

We in society, sir, must
fit together — must sit
together. Not some high |
and some low. Not some on .
cushions — some on fire —
some on ice. We all want |
and deserve what’s nice.
Some arm themselves with
education. Others, arm.
themselves with knives, -
others with guns. Some’
arm themselves with peace, :
others with war; some with '
honesty others with trick- -
ery and with lies. But the-'

well-being of the entire--." ~

body is what each cell must | —
desire just as must every”
member of society. 3
‘A Prime Minister as well '
as other such leaders must
set the example — must pro-.
mote this spirit. I know
Perry Christie has been~,
called. I know you’re on!
your way. The hand of;
mercy upon you — upon us*;
— invites you — invites us to,‘
extend our hands in mercy».
— to rest them upon all the*
suffering. :
We need more love in-
our land and on earth -:
more wellness — more har-+
mony. Everyone and every '.
family, deserves that zone |
— that sense of well-being |
you claim for you and‘
yours. | :
Who, this instant among ;
us is without it? Who in’
our country at this present ,
moment has something:
extremely dangerous hang- '
ing, hovering over their.
heads which might, any’
instant, fall upon them —
upon their babies - upon ,
their loved ones to maim»
them for life or kill them?’
Wherever this might be so.
is your concern — is my.
concern. ‘

®

OBEDIAH
MICHAEL

SMITH

Nassau, ;
December 23, 2006.

4
4
a
9
r

b
>
.

Informing man ‘the |
police have his picture’:

EDITOR, The Tribune.

THIS letter is to inform “the man” no “tief” wearing a green
baseball cap, big construction boots and belt, carrying a white
carrier bag who stole around $2,000 worth of Cuban cigars (in
yellow tubes and silver tubes (ie Cohiba - Monte Cristo - and
Hoya De Monterrey) from Leather N’ Things on PI, HHP ©
around noon on Monday. He was also singing a gospel song —

ha! ha!

Please note the police have your picture, thanks to a friend,
also your fingerprints and they are looking for you — sleep well.

NOT AS
STUPID

AS YOU
Nassau,
January 9, 2007.



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

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

Share your news












6 2 & aX“a


THE TRIBUNE





Oln brief

Young man
accused of
unlawful

intercourse

A YOUNG man from
Emerald Bay, Exuma
appeared in a Nassau court
yesterday accused of having
unlawful intercourse with a
girl aged 13.

Brian Mackey, 18,
appeared before magistrate
Marilyn Meeres at Court
Five, Bank Lane. It is alleged
that between Thursday, Jan-
uary 11 and Friday, January
12, Mackey had unlawful
intercourse with a 13-year-
old girl while in New Provi-
dence.

Mackey was not required
to plead to the charge and
the case was adjourned to
April 17.

Young man
accused of
unlawful

intercourse

A FOURTH man has now
been arraigned in magis-
trate's court on drug conspir-
acy charges involving some
714 pounds of marijuana.

James Rahming, 43, was
arraigned yesterday before
magistrate Carolita Bethel at
Court Eight, Bank Lane,
where he pleaded not guilty
to conspiracy charges, name-
ly that between November 4
2006 and November 21 2006
he, along with others, con-
spired to possess. with the
intent to supply and con-
spired to import a substan-
tial quantity of marijuana
into the country.

Rahming will return to
court on January 24 for a bail
hearing.

FOR 3 IN 1 LAWN SERVICE
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Pest Control
Tropical Exterminators

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TUESDAY,
JANUARY 16

Community page 1540am
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Kemp Road Ministries
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ZNS News Update
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Holby City
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News Night 13
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12:30 Community Page 1540AM

NOTE: ZNS-TV 13 reserves the
right to make last minute
programme changes!



AN additional identification
logo is to be placed on aircrafts
to indicate whether or not they
have been officially certified to
provide charter services.

The new requirement was
created by the Ministry of
Transport and Aviation in an
effort to increase public safe-
ty.

In addition to the logos, each
company’s operations specifi-
cation will come under an
assigned numbering system,
explained Captain Patrick
Rolle, the manager of flight ser-
vices.

“Chances are that if you char-
ter an illegal aircraft, you may
not be. advised of liability in the
event of an accident, and pri-
vately owned aircraft conduct-
ing commercial flights become
ineligible for compensation in
the case of injury or death,”
Captain Rolle said at a press
conference at the Ministry of



By PAUL TURNQUEST
Tribune Staff Reporter

STUDENTS from Columbus
Primary yesterday paid homage
to civil rights leader Dr Martin
Luther King during the official
visit of US Ambassador John
Rood.

The ceremony on Dr Martin
Luther King Day, dubbed “Liv-
ing the Dream of Peace and
Equality” started with a prayer

‘for world peace by third grader

Angeline Cerenus and a scrip-
ture reading by second grader
Briana Benjamin.

Mr Rood and visiting US
Senator Bill Nelson from Flori-
da, along with aides from the
US Embassy, watched the
school re-enact the historic 1963
march on Washington DC by
Dr King and other civil rights
leaders, when the civil rights
leader made his famous “I Have
a Dream” speech.

Mr Rood said that Columbus
Primary had to be the most
“outgoing school” he had ever
visited.

The ambassador has nurtured
a reading initiative with local
schools since taking office as
the 11th US Ambassador to the
Bahamas — a programme that
he is eager to see continue even
after his departure in a few
months.

Challenge

Addressing the students, who
sat attentively under tents in the
school’s assembly area despite
the growing heat, Mr Rood said
that he hoped that other busi-
nesses would take up the cause
of reading to children at local
schools.

“I have to share a comment
the senator made,” Mr Rood

said, “He looked over at me:

during the presentations and
said ‘are all the children in the
Bahamas this talented?’ And I
said ‘yes, they are.’”

The ambassador thanked the
children for their singing, the

LOCAL NI ae

New identity los
certified charter

TUESDAY, JANUARY 16, 2007, PAGE 5

Ministry of Transport and Aviation
cracks down on industry ‘hackers’



Transport on Friday.

He explained that in the
majority of cases where com-
pensation is paid, liability flows
primarily to the party that is
deemed to “operate” the air-
craft.

Illegal operators, he said,
could expose the flying public,
company owners, managers and
pilots to civil liability, personal
liability, loss of insurance cov-
erage, regulatory sanctions and
increased fines.

All charter companies oper-
ating in the country carry a valid
Air Operator Certificate

US ambassador

@ STUDENTS at
Columbus Primary
School recreate the scene
when Dr Martin Luther
King marched on
Washington DC and
made his legendary ‘I
Have A Dreaim’ speech

play and rally re-enactment, and
especially the teachers for
preparing their students so well.

In recognition, he presented a
letter from US first lady, Laura
Bush, addressed to the school,
in particular the teachers, for
their work in furthering the
cause of literacy. — Lal

Mr Nelson said-that he could
not get over how well behaved
the children at the school were.

“These children, even down
to the first grade, I have never
seen such well-behaved chil-
dren. They sat there in those
chairs for well over an hour and
a half. Instead of being little
wiggle worms, they were noth-
ing but perfectly behaved little
students.

“And for them to have a
sense of the history of Dr Mar-
tin Luther King, and to express
it as they did today on Dr
King’s national holiday in the
United States, I think was just
wonderful. I’m taking this back
and I’m going to tell all my col-
leagues in the Senate about this
wonderful programme,” he said.

Principal Marcia Roberts
thanked the ambassador for his
visit, adding that his reputation
has far preceded him.

“An ambassador yes, but in
the halls of education, a gentle-
man who does not manage from
behind a desk but leads in and
through the trenches,” she said.

& AMBASSADOR John
Rood, accompanied by
Florida senator Bill
Nelson, are greeted by
the children at the

school

(Photos: Patrick Hanna)

(AOC), and operate under
Bahamas Air Safety Regula-
tions (BASRs), which are the
general operating rules for air-
craft registered here.

Persons chartering an aircraft
should ask the pilot or company
to produce a copy of the AOC;
determine if the company has
a valid airworthiness certificate
which should always remain on
the aircraft, and ask the pilot to
show a current medical certifi-
cate and a copy of the license,
he said.

The ministry refers to illegal
charter operators as “hackers”.

If persons suspect that they
are dealing with a hacker, they
are advised to call Flight Stan-
dards and give the aircraft reg-
istration, the pilot’s name, date,
times and as much documenta-
tion as possible.

Those found operating ille-
gal charters can be fined up to
$1,200 for every leg of each
flight they carry out illegally,
Captain Rolle said.

The new logo will appear
either on the side windshield or
on the sides of the aircrafts. The
logo means the operator is an
AOC holder and is certified by





COMMONWEALTH BUILDING aan
Neal 7 ©2505 « ROBINSON RD. gcse) 351°8 mY e LOGWOOD RD.
0: Wt





the department to transport
passengers on a commercial
basis.

The colour scheme shows a
blue design on a bright yellow
background with red, white and
blue working printed thereon.
The words, “Certified Bahamas
AOC Holder” will be visible to
passengers.

It is different from the ais
plane’s registration number
which is found on the tail and
signifies the ownership of the
aircraft, explained Capt Rolle

In 2006, the Civil Aviation
Department certified over eight
new companies and for the year
so far, they have four new appli.
cants.

Capt Rolle also advised
Bahamians who charter flights
out of the country to make sure
the companies they are dealing
with have the proper documen-
tation to enter their destination
legally.

praises primary scho
during visit for Martin Luther King










PAGE 6, TUESDAY, JANUARY 16, 2007

THE TRIBUNE



Carey: PLP is the best
choice for economy

THE PLP has managed the
economy better than the FNM,
a government backbencher
claims.

Hitting out at opposition
leader Hubert Ingraham,
‘Carmichael MP John Carey said
the Bahamas has seen “sub-
stantive growth” over the past

‘four years, based primarily on
the anchor project concept
developed by Perry Christie.

“One could be flabbergasted
by the rhetoric that is being
uttered out of the mouth of the
leader of the opposition on his
new found knowledge of what
-he would do if he were prime
minister again,” Mr Carey said.

“Ingraham had LO years to do
all that he now vows he would
do if the FNM is returned to



ep eavement.



Anchor projects create potential for zero
unemployment, claims permanent secretary



government.”

According to Mr Carey,
before the end of 2007 the PLP
will have created “full employ-
ment” based on a seven per cent
unemployment level - “which
is statistically that reality based
on the International Monetary
Fund (IMF) definition.

“This means that when the
numerous anchor projects kick-
in over the coming [0 years, the
government has created a poten-
tial for zero unemployment even
when we take into consideration

the increase in the annual amount
of school leavers.

He said that in four and a half
years, the PLP had done a much
better job in terms of the level of
foreign reserves than the FNM

did i in nine years.

“The foreign reserves in 2002
were $373 million. The latest
report at November, 2006,

shows they are now $448.6 mil-
lion, having been ‘hit’ dramati-
cally last year as a result of
increased oil prices which cost
$135

some million. The



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Bahamas would have been
knocking at the door of US$1
billion in reserves if the cost
of oil had stayed level during
2006,” he said.

“Central Bank statistics show
just how vibrant the economy
has been and how the ‘lot’ for
the average Bahamian has
improved since 2002. Example:
B$. savings in 2002 were
around $645.4 million and at
November, 2006, it was
B$959.5m...fixed deposits in
B$2,287.8m in 2002 and at



i JOHN Carey

November, 2006, $2,760.3m.

“House mortgage rates have
decreased between 2002 and
2006 by nearly 2.5 per cent.

“The quality of life can in
some ways be measured by the
motor vehicles on the roads.
There are some 218,000 vehi-
cles now and the quality has
certainly improved over the
past 4.75 years.

“Recent numbers indicate
that Customs revenue has gone
over $1 billion in fiscal 2006.

“The Bahamian people know ‘

that the Christie administration
is a better choice to lead the
country,” Mr Carey said.

Injured customs officer calls
for assistance from NIB

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT -— An injured
Customs officer is claiming
that National Insurance’s fail-
ure to pay her benefits relating
to an industrial accident in
2005 has left her virtually des-
titute.

However, NIB officials said
that the matter is being care-
fully reviewed and investiga-
tions are underway to deter-
mine whether the woman is
not feeling the effects of pre-
existing injuries.

Theresa Adderley-Butler,
who has been employed in the
public service for 30 years, has
not been able to work since
last March.

According to Ms Butler, she
sustained serious hip injuries
after a bad fall last February
while stationed at the Lucayan
Harbour warehouse.

Ms Butler had also been
injured in a serious traffic acci-
dent in May 2005, in which,

. she says she sustained a head

injury and several fractured
ribs.

All of Ms Butler’s savings
have been exhausted on medi-
al bills and other expenses. “I

am on the verge of losing my | :

home and my car. I feel
absolutely helpless,” she said.

Ms Butler said the Customs
Department submitted all the
necessary documentation
regarding the industrial acci-
dent to NIB in June 2006.

She fears that her time to
receive any benefits will expire
this February.

Anthony Curtis, deputy
director of NIB, said that a
claim has to be submitted
within six months.

Mr Curtis stated that Ms
Butler has received benefits
from NIB for injuries previous
to her claim in February. He
said that her claim is still being
processed and investigations
are being conducted to deter-
mine whether the injury was
not from the car accident.

« ANDRE},
3 SCHOOL Vs

the International School of The Babamas
FOUNDED 1948



In brief

Police look
for suspect
after armed
robberies

POLICE are investigating
two separate armed robberies
which occurred in the St Albans
Drive area early Monday morn-
ing, roughly half an hour apart.

According to press liaison
officer Inspector Walter Evans,
the first incident occurred short-
ly after lam, when a 22-year-
old St Albans Drive man was
standing outside his home.

He was reportedly
approached by a man wearing
dark clothing and armed with
man a silver handgun.

The assailant reportedly
forced the man inside his home,
and then stole money and a cel-
lular phone.

The robber fled the scene on
foot.

Police say that about half an
hour later, also in the St Albans
Drive area, a 22-year-old
woman who had just stepped
outside ‘her home_ was
approached by a man fitting the
same description — although this
time the robber had the lower
portion of his face covered with
red cloth.

The man reportedly robbed
the woman of two cellular
phones and then fled the scene
on foot.

Police are investigating both
incidents.

Share
your
news

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

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












ACADEMIC SCHOLARSHIPS

A limited number of scholarships to attend St Andrew’s School is offered
annually to students attending Ministry of Education secondary schools.

These scholarships cover all tuition and book charges throughout years 10,
11 and 12. Eligible students should meet the following criteria:

e Attendance at a government school for at least two years, including

grades 8 and 9

e Be of the highest academic standing, maintaining a 3.0 GPA or above
e Be at least 14 years old and not older than 15 years by 31 st August

2007

Applications will require the endorsement of the principal or guidance counsellor

of the student’s school.

The students awarded these scholarships will be

expected to follow a full programme of BGCSE and advanced courses leading
to graduation at the end of year 12.

The scholarships will be awarded on a competitive basis and all candidates
will sit the scholarship examinations at 9am on Saturday, 10 March 2007 at

St Andrew’s School.

and interviewed.

Successful examination candidates will be short-listed

Application forms will be circulated to the Ministry of Education secondary
schools in New Providence and several in the Family Islands or can be
obtained from the administration office of St Andrew’s School.

Further details are available from St Andrew’s School, telephone: 1-242-324-

2621.

Application forms should be returned to: -

Robert F. Wade .
Principal

St Andrew’s School
The International School of The Bahamas
PO Box EE 17340
Nassau, Bahamas

The closing date for applications is Wednesday, 28 February 2007.

is Authorized by:

'< INTERNATIONAL BACCALAUREATE [ope

ORGANIZATION

Accredited by:

eS COUNCIL OF INTERNATIONAL SCHOOLS
EX, NEW ENGLAND ASSOCIATION OF SCHOOLS

& COLLEGES


.-,
'4+e

OM cg

ear ate

we

ONS AB Rl TE Th re

rare

TT

GS oe ee

THE TRIBUNE

TUESDAY, JANUARY 16, 2007, PAGE 7





ole eS

FNM ‘have hurt
election chances’

@ By RUPERT MISSICK Jr
Chief Reporter

THE public position he and
other “core” FNMs have taken
against Opposition Leader
Hubert Ingraham has hurt the
FNM’s chances of becoming the
next government, former FNM,
now Independent candidate for
Bamboo.Town Tennyson Wells
said yesterday.

However, FNM insiders have
told The Tribune that not only
does Mr Ingraham enjoy the
support of 95 per cent of his
party, the opinions of “dissident
FNMs,” like Mr Wells, have not
been a consideration of the elec-
torate.

' “T have never been asked by
anybody in Holy Cross what |
feel about Mr So-and-So declar-
ing his love for Mr Christie or
otherwise,” former FNM Chair-
man and Holy Cross hopeful
Carl Bethel said.

He maintained that the gov-
erning party held a survey that
clearly showed that Mr Christie
has a lower approval rating than
Mr Ingraham when it comes to
being a decision maker.

“To address that, the govern-
ment has a sustained policy to
demonize Hubert Ingraham and
call him names like dictator and
other things,” Mr Bethel said.

This begs the question, how-
ever, as to what persons like
Messrs Wells, Pierre Dupuch
and Algernon Allen, who spent
much time in building the party,
would have to gain in destroy-
ing it.

For Mr Bethel the answer is
quite simple. “Some people
unfortunately in the FNM have
shown the tendency, when they
have not been able to achieve
whatever goal they have set for

’ themselves, to feel that it is in

their interest to try to destroy
the organisation rather than
accept the verdict of the party.
That is not stopping or imped-
ing the FNM from achieving its
potential in the next election,”
Mr Bethel said.

Former FNM junior minister
Lester Turnquest said yester-
day that “this is the kind of

ETT













8 S | anes
@ CARL Bethel has accused
the government of trying to
‘demonise’ party leader
Hubert Ingraham

political retort one would
expect,” but it did not change
the fact that “in most of the cas-
es most persons who are FNMs
have concerns about Mr Ingra-
ham’s.leadership.”

“Many of these persons have
articulated their reasons for
their opposition to his return as
leader. (Many of them) sup-
ported Senator ‘Tommy ‘Turn-
quest. Mr Allen and myself ran
for the leadership of the FNM
and if it were in fact the case of
personal ambition why hasn’t
anyone spoken against Mr
Turnquest?

Mr Wells maintained that his
own opposition to Mr Ingraham

_is not personal but based on his

performance over the past ten
years.

“Anyone who: had a differ-

ent point of view was stifled and
victimised. Algernon Allen
spoke up, Lester Turnquest

‘made his position known, Floyd

Watkins, all of these people are
doing quite well without Ingra-
ham or politics and they are
making it quite well on their

eer sae

own. But there is a special inter-
est group who have done noth-
ing for themselves. Now they

are out of power, now they are ~

not doing anything for them-
selves or the country. They want
some appointed position so they
can get a free ride. The FNM
is suffering from the selfishness
of those few people,” Mr Wells
maintained.

However, one chief FNM
strategist, who chose to remain
nameless, said that: the only
effect of such comments was to
galvanise the party's core sup-
porters.

“A lot of our supporters have
gotten fed up with it and. they
are calling into radio shows now
each time these guys are on
talking the same foolishness
again and again.

“Roston Miller (a former
FNM senator who appeared on
Jeff Loyd’s talk show Issues of
the Day on More FM last week)
for example was angry because
he was only allowed to serve as
a senator for two years,” he
said.

“They come off as having a
very selfish agenda and their
main point of attack is Hubert
Ingraham and not identifying
any real issue.

‘Take Lester Turnquest for
instance, he served in the gov-
ernment with Hubert Ingraham
and was a junior minister at all
relevant times up until the time
when we lost and now suddenly
Ingraham is this awful person
now,

Mr Turnquest said the issue
for him is not whether he has

-left or is loyal to the FNM, the

issue is that he does not want
Mr Ingraham returned to the
leadership of the country,
because in his opinicn, it is not
in the national interest:

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PAGE 8, TUESDAY, JANUARY 16, 2007

THE TRIBUNE



Sa Vea re

In an exclusive interview with The Tribune, Chief



@ By Anastasia Stubbs



THE country’s judicial sys-
tem is reportedly being ham-
pered by the public’s lack of
intérest in serving jury duty.

‘Accredited - Registered

Judges have even had to
reschedule cases because poten-
tial jurors failed to show up for
court when summoned.

Some observers are con-
cerned that a growing number



Justic Sir Burton Hall speaks about one of the

problems facing the legal system in the country
and what can be done to resolve it |

of Bahamians make up excuses
in an effort to be exempted
from juries.

Trial by jury is one of the cor-
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of the constitution guarantees
a trial by jury to a person
charged with a crime.

In an exclusive interview, the
Chief Justice Sir Burton Hall
confirmed that in the Bahamas,
“there is a lack of enthusiasm
about persons in terms of hav-
ing to do jury service”.

Sir Burton said many experi-
ence a “feeling of dread when
they are so summoned.”

“Tt is a fact of life, and the
frustrations that persons who
do come out for jury service
express are that the reality of
making that sacrifice does not
always seem to be appreciated
by those of us who run the sys-
tem,” he said.

Sir Burton pointed out that
to an extent, this problem is not
peculiar to the Bahamas, but is
in fact ‘a worldwide phenome-
non in countries where the judi-
cial process involves jurors.

He explained that a trend has
developed — made worse by the
popularity of television dramas
involving jury trials — “where
even more intelligent members
of the public are led to believe
that trials move along at a dra-
matic pace, whereas in reality,
trials are by their nature delib-
erate, time consuming and
sometimes tedious processes.

“And very often jury service,
as I said, apart from the sacri-
fices that persons would have
made in having to put their per-
sonal lives on hold while they
come to sit in, involves very
often just sitting around in the
perception of the juror’s mind,
waiting for something to hap-
pen, while the whole machin-
ery, that is the criminal justice
system in terms of organising
witnesses and identifying

exhibits, and all of these things .

which as I said can be quite
tedious arid time consuming,
(continues).

“Therefore, it is not surpris-
ing that there is a lack of, should
I say enthusiasm about persons
in terms of having to do jury
service. There is more a feeling
of dread when they are so sum-
moned,” said the Chief Justice.

Apart from the time factor,
one of the main concerns of
potential jurors is the financial
loss they may incur, particular-
ly in the case of self-employed
individuals.

By law, individuals employed









¢€-?2 8 ® @ @ @










TCI COUNTRY MANAGER -INSURANCE OPERATIONS




@ CHIEF Justice Sir Burton Hall

- in both the private and public

sectors are entitled to their reg-
ular pay once they are selected
to serve on a jury. However,
this presents a challenge for self-
employed people sitting on the
jury — who at the end of the day
cannot collect a paycheck.
Under the present system,

every potential juror is.entitled ,

to a fee of $15 per day for each

day or part of a day he is

required to attend court —
whether or not he or she serves
on a case.

However, this sum is not suf-
ficient to meet the living
expenses of many Bahamians.

Sir Burton agreed that the
remuneration of jurors and the
financial strain self-employed
people experience while serv-
ing as jurors is a valid concern.

“But practically speaking it
is at bottom a community ques-
tion which is going to have to be
answered on the political level
because it is parliament that
would have to make this provi-

With origins in The Bahamas since 1978 and in the Cayman Islands and
the Turks and Caicos Islands since 1980, Fidelity is a financial services
group offering a comprehensive range of insurance services, domestic
and international banking. estate planning, pension services and corporate
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Ten years relevant insurance experience

Proven track record in new business development

Self motivated in addition to being an excellent team leader
Excellent organizational and analytical skills

Strong computer literacy in Microsoft Word, Excel &
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The successful applicant will manage Fidelity’s Turks & Caicos

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An attractive compensation package that includes a large performance
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Fax (345) 946 7836
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we












sion and I doubt that the state,
whether the Bahamas or any
other state, could really remu-
nerate persons for serving on
the jury,” he said. “It is and will
always be a form of sacrifice.”
He added: “I have the great-
est empathy for, for instance a
taxi driver or similarly self-
employed persons, who have;no
means of income:while they are
doing this work. And indeed

even:those persons; who:arenot:..

self-employed who are in the
employ of others. Employers
are not enthusiastic about hav-
ing to continue to pay the
salaries of persons who are not
in a physical position because
they are elsewhere to provide
the services for which that
employer has hiredthem.” _ .
The Chief Justice concluded
by noting that it is one of those
vexed questions which the com-
munity as a whole is going to
have to address if Bahamians
wish to retain the constitutional
guarantee of trial by jury.


























ee are ee a Te Par

waeeewe - + - a ee me ee at.

ser ee tee ge EET Ae ie BO SO

\


vs



THE TRIBUNE

TUESDAY, JANUARY 16, 2007, PAGE 9



@ VINCENT
Peet and Perry
Christie tour
the new state-

of-the-art cafe- —
teria on a tour
at the North
Andros High
School

deeeevecvcceccccccccccccsececcsscosevees,

Complaints hy
FROM page one

of the complaints, The Tribune vis-
ited some of the residents yester-
day morning, but this time a pho-
tographer accompanied the
reporter.

The first resident interviewed.

spoke on the condition of
anonymity.

According to this woman home-
owner, the proposed recreational
park to be built in the subdivision
will be constructed near a “drug
haven”.

“This is supposed to be a park,
but there is a drug dealer living to
the left of the park,” the single
mother claimed.

The concerned home-owner

said that when the park is finally.

built there will be buyers and sell-
ers of drugs in the immediate vicin-
ity of the park, and that her young
son would be exposed to this illegal
and dangerous activity.

The woman said government
has not told residents when the
park is expected to be completed.

Additionally, the woman -

claimed that she has yet to see a

residents of Excellence Estates

garbage disposal truck in the area
since she moved into the subdivi-
sion in November.

“I have to carry my garbage to
the dumpster myself,” she said.

The woman also complained
about a “filthy” dump site, which is
located near the homes.

Ms Stephanie Sargent of house
No. 46 accused a Ministry of Hous-
ing employee of abusing his posi-
tion in the area.

She said: “If they see a single
mother living in the house, they
will keep on coming around,
because they want the women to
be nice to them, so that they can
give them favours.”

Ms Stubbs demanded that the
housing minister “restrain” his
employees.

The Tribune tried to speak with
Housing Minister Neville Wisdom
and Housing Permanent Secretary
Leila Green, but calls were not
returned.

However, Gordon Major, the

~ director of technical services at the

Department of Housing said: “I
read the story in the paper and
I’ve asked my inspector to investi-
gate all of the complaints and pre-

ae ree

MONTROSE AVE

“PRICE INCLUDES: FIRST
LICENSE & INSPECTION





pare a report and he should be
doing that today.”

Mr Major said he expected to
get the report by Tuesday.
_ The Tribune asked Ms Liana
Carey, a spokesperson for the
angry home-owners, why she
believed the ministry of housing
had failed to address their con-
cerns. “Minister Wisdom is just not
a man of his word,” she claimed.

Dolphin
FROM page one

covered she had come down
with zygomycosis, an often fatal
and mysterious fungal infection.
_ Tessie originally spent some
time in the Gulfarium in Fort
Walton Beach, Florida while
the rest of the group headed to
the Bahamas.

However, last August, Tessie
was finally shipped to the
Bahamas because she seemed
to be doing well, said Don
Abrams, general manager at
Gulfarium.

SRVICE FREE

MINISTER of Financial
Services and Investments and
Member of Parliament for
North Andros and the Berry
Islands Vincent Peet takes
Prime Minister Perry Christie

on a tour at the North Andros
High School, walking past the
new three-classroom block
currently nearing completion,
as they arrive to attend the
school’s Agriculture Science

os Hig



and 4H Club Rally and
Exhibition yesterday in
Nicholl’s Town, North
Andros.

(Photos: BIS/Tim Aylei)

The Bureau of Women’s Affairs of
The Ministry of Social Services &
Community Development
Invites You To A Public Forum On

The Proposed Domestic

Violence

(Protection Orders)Act, 2006

Thursday, 18 January, 2007 At 7:00p.m

Workers House

Tonique Darling Highway

Come Out And Let Your Views Be Heard!

For Additional Information please call
The Bureau of Woman’s Affair at 356-0244/6

PARTS & SERVICE ASSURED

PHONE: 322-1722 FAX: 326-7452

FULL TANK OF GAS



FULL SET FLOOR MATS”


kr

out the Schengen zone.

At present, there are 15 Schen-
gen countries, which are all in
Europe.

The 15 Schengen countries are:
Austria, Belgium, Denmark, Fin-

land, France, Germany, Iceland,’

[taly, Greece, Luxembourg,
Netherlands, Norway, Portugal,
Spain and Sweden. All these
countries except Norway and Ice-
laud are European Union mem-
bers.

Minister Mitchell said that as a
result of the closure of the
Netherlands Consulate, there are
no foreign embassies that issue
Schengen visas in the Bahamas.

Minister Mitchell said: “We are
all now on a list where we will

PAGE 10, TUESDAY, JANUARY 16, 2007

not be required to have visas to
enter Europe, and this exemption
requirement for nationals of these
countries, including the Bahamas,
will come into force once a bilat-
eral agreement on visa require-
ments with the European Com-
munity and the Bahamas has
been concluded.”

The minister said that a num-
ber of countries in the Caribbean,
including Barbados, St. Kitts and
Nevis, and Antigua and Barbu-
da would be affected by the new
agreement.

The foreign affairs minister also
told the press that in order for
Bahamian goods to gain duty free
access to the European Union,



LOCAL NEWS

‘ommscoe Ered Mitchell on visas

the Bahamas has to sign onto the
“Cotonu” agreement.

The Cotonu agreement cur-
rently governs the trade relation-
ship between the Bahamas and
Europe.

However, Minister Mitchell
explained that on December 31,
2007 the duty free regime of the
agreement will expire because it
violates World Trade Organisa-
tion (WTO) rules.

According to him: “I’m pleased
to say that we have some kind of
consensus for the way forward
with this and one of the things
that the Bahamas will have to do
is to indicate to other countries in
the Caribbean what our trading














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position will be in regard to these
matters.
“We are part of something

called CARIFORM, which is the:

Dominican Republic plus other
countries in CARICOM, and it
is CARIFORM which conducts
the negotiations with the Euro-
pean Union on these matters.”

The minister said that once
“general negotiations” had con-
cluded, each country in the
Caribbean would be expected to
sign an Economic Partnership
Agreement (EPA), that outlines
the trade arrangement between
the particular country and the
European Union.

However, EPA’s have been
criticised by international organ-
isations.

In October 2004, a UK-based
Christian fair trade company
called “Traidcraft”, along with
partners from the UK, other
European countries and Africa,
launched the "Stop EPA Cam-

’ paign" at the European Social

Forum (ESF) in London, in the
hopes of stopping the Economic
Partnership Agreements (EPAs)
being negotiated between the EU
and 77 of the world's poorest
countries.

One hundred and twenty
organisations now support the
campaign, including ActionAid,
Christian Aid, the Catholic
Agency for Overseas Develop-
ment (CAFOD), Action for
Southern Africa and Oxfam



















called associate members.

such, he said.

off can be minimised.

said.

FROM page one Church

members of the Communion, while those opposed to it could be

‘This arrangement would be similar to that which the Church of
England has with some Lutheran churches in continental Europe.

The opposing provinces will be able to still participate in meetings
with the Anglican Communion, but will not be part of the group as

Archbishop Gomez. conceded that the Anglican Communion has
already lost many of its members over the Church’s handling of the
issue of homosexuality, mostly in the US, but said he hopes that the fall-

He said some members in the Bahamas may also leave the church
over this issue, but added that he had not given it much thought.
The Archbishop stated that the Bahamas and the West Indies have
always shared the view of the majority of the Anglican provinces.
“Some theologians say we must look at a new kind of anthropology.
Instead of talking about male and female we must talk about persons.
Any two persons may love one another, any two persons may marry.
“That is we believe, and I firmly believe, I couldn’t accept that
anthropology and that it is contrary to the teaching of scripture,” he





@ MINISTER of Foreign
Affairs Fred Mitchell —

International.

These NGOs worry that the
EU's propositions would hurt
small and vulnerable producers,
thus hindering any progress in
fair trade.

The NGOs are demanding that
the trade agreement should be
based on a “principle of non-rec-

iprocity”, with the African, © :

Caribbean and Pacific (ACP)
countries having access to trade

‘preferences and special and dif-

ferential treatment.

However, according to Minister
Mitchell: “The major difference
with the existing trade regime,
which is a one-way system, is that
it’s going to be reciprocal, in oth-
er words the Europeans are say-
ing if we open our markets to you
on this basis, you have to open
your markets to us on the same
basis.”



FROM page one © Warning

The Tribune was told: “People
are not pléased with the way this
thing is being handled. The two
vehicles were broken up badly.
Every windshield was shattered.”

The vehicles were parked in
Mathew Town near the Supers
nightclub where the beating inci-
dent originated.

Some officers took offence when
Mr Wilson started chatting with a
woman officer. They beat him out-
side.

As Mr Wilson fled, they caught
him and beat him again, this time
using a rock to pound his head. He
was left with two gaping wounds,
which friends feared were life-
threatening.

As locals came to Mr Wilson’s
assistance, and carried him off to
the local clinic, officers are said to
have shouted: “Let him die.”

The attackers were believed to
be from the Inagua Defence Force
base and a visiting patrol ship, the
Yellow Elder.

Yesterday, another source
warmed that, unless arrests are made

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soon, Defence Force personnel will
be attacked by locals.

“T think they are going to beat

up one of these fellows real bad,”
said the source. “The people here
suspect one of the guys involved in
the attack is a member of the
DEU.”
* The attack on the vehicles was
described as “an act of sabotage”
by one source who said things
could get worse unless justice is
served.

“This is definitely an act of retal-
iation. People don’t like the way
the government is handling the case.

“They think it is ridiculous that
no-one has been arrested so far, so
they are beginning to take matters
into their own hands. *

“The next thing is they will grab
themselves a marine to get

. Tevenge.”

Mr Wilson, who works for Mor-
ton Salt, has been off work since

the beating. He still requires medical

attention and suffers pain from back
and leg injuries.

ent communicator ©



FURNI



THE TRIBUNE




~Anti-drug
mission
FROM page one

ed the helicopters elsewhere,

that we got a commitment from

the government that we would
: still have helicopters here.
? Because this is so very impor-
tarit in our interdiction of all
these drugs that are now com-
ing from Colombia through
Venezuela to the island of His-
paniola, both in the Dominican
Republic and Haiti.

“They drop most of the
cocaine there by plane, then
they repackage it and send it
by boat. From there it either
goes to Europe, the US, or
Canada.

“Well if we didn’t have the
surveillance, the intelligence
operations, the cooperation
with the US and the Bahamas,
with assets such as the go-fast
boats of the Coast Guard, plus
the helicopters — if we didn’t
have those assets here, you
know where those drugs would
be coming. Right through here.

“That’s why it was so impor-
tant that when the US Army

needed the helicopters else- -

where, particularly central Asia,
that we get a replacement. And
what we are going to do is get a
newer helicopter, but it will be
a helicopter that will fill in
exactly for the Blackhawk heli-
copters that will be sent to Cen-
tral Asia,” Senator Nelson said.

With the replacement heli-
copter still not set to arrive in
the Bahamas till 2008, Senator
Nelson said this was. only
because of manufacturing
times. However, he said they
would be seeking to speed up
that process.

“The other commitment was
that the US Army will continue
to fund that mission down in

: Georgetown for the next five
: years. So it’s just a matter of
that unit staying there, and
keep operating when the heli-
copters leave sometime later
this year. Now that doesn’t
mean that we are going to be
blind, because we have heli-
copters down in Inagua (DEA),
and we have Coast Guard heli-
copters in Andros. So this is
just to make sure that we don’t
have a black hole in the middle

between Inagua and Andros,” -

he said.

Senator Nelson also advised
that he had already held meet-
ings with Foreign Affairs Min-
ister Fred Mitchell on Sunday,
which he stated went “very
well”. —

“Of course they are grateful,
because their question was:
‘Was this the beginning of the
end?’ Was the cooperation
between the Bahamas and the
US on all of this interdiction
going to start unraveling? And
I’m happy to say that it’s not.
The cooperation is strong. It’s a
strong bond, and it’s clearly in
the interest of both govern-
ments, and its people.

“And I can tell you, flying
down the whole Exuma chain
of islands, I couldn’t believe the
‘development that’s going on
there. All these resorts, all of
these privates homes that are
there. If you had nothing but
drug trade coming through
there, you wouldn’t have all of
that economic development
that is going on there in the
Exumas,” he said.

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THE TRIBUNE

scholarship programme

@ COB president Janyne Hodder makes an

_ TUESDAY, JANUARY 16, 2007, PAGE 11

address about the role of Family Guardian and its





Insurance firm is
recognised for
scholarship award

A LOCAL insurance compa-
ny has been recognised for help-
ing encourage talented young
Bahamians to stay in the coun-

try.
’ “COB’s President, Janyne
Hodder, thanked Family
Guardian for supporting a gen-
erous scholarship programme
for the last 18 years.

“Family Guardian is helping

us to build’ on-solid founda- .

tions,” she said, “And our stu-
dents are being allowed to flour-
ish thanks to scholarship pro-
grammes such as yours.

“At COB, soon to be the
- University of the Bahamas, we
believe that no country should
outsource its higher education.
You don’t export your best tal-
ent, and scholarships are help-
ing us to achieve that.”

Ms Hodder said that since she
took office in July 2006, she has
investigated the history of the
college’s relationships with its
donors and-Family Guardian

shines. as an exemplary donor ©

in both its commitment and its
generosity.

The college said in a state-
ment that it prides itself on
offering high standards of teach-
ing and meaningful curricula in
its effort to develop a better
educated Bahamian population.

“However, it recognises that ~

it cannot do all it wants to with-
out corporate partners prepared
to donate funds to assist it in its
mission,” it said.

On Thursday, January 11,

Family Guardian hosted a
reception at its corporate head-
quarters to recognise its six
2006/2007 scholarship recipi-
ents.
- The company’s vice-president
of human resources and public
relations, Anne Higgs, began
the informal reception by
expressing her pride and plea-
sure at having been involved
with the scholarship programme
since its inception in 1988.

“This reception is an annual
event,” she said. “We want to

get to know our students as |

more than a name and a grade
but. as part of Family
Guardian’s extended family.”

President and CEO of Fami-
ly Guardian, Patricia Her-
manns, welcomed the assem-
bled students, family members
and guests, and senior person-
nel from both COB and Family
Guardian and gave a brief his-
tory of the scholarship pro-
gramme.

Six students are supported
each year — four from New
Providence and two from the
Family Islands.



of things we
think, say or do

11s it the TRUTH?

2.\s it FAIR to all
concerned?

3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?

4. Will it be
BENEFICIAL to
all concerned?

www. rotary.org





8

i JANYNE Hodder, president of COB,



Pg

Family Guardian

president and CEO Patricia Hanna and COB director of
financial aid and housing Cheryl Carey, with the six students who

have been awarded scholarships

Mrs Hermanns spoke of
Family Guardian’s strong,
unwavering commitment to the
programme and the college and
noted that in the 18 years since
the annual award began, Fami-
ly Guardian has donated over
$250,000 to assist more than 80
students in their endeavours.
“We were proud to double the
amount of our annual award in
1999,” she added, “And we are
equally proud to announce an
increase of $5,000 this year.
From 2007 the award will be
$25,000 per year.”

Mrs Hermanns closed by
wishing COB continued success
and further expressing Family
Guardian’s support to the col-
lege in all that it is attempting to
achieve.

Each student then stated his



from people who are
making news in their
neighbourhoods. Perhaps
) you are raising funds for a
good cause, campaigning

i for improvements in the
area or have won an
award.

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

hare your news

The Tribune wants to hear

(Photo: Tim Clarke)

or her major — which range
from accounting to culinary arts
and from banking and finance
to education — before: Cheryl
Carey, director of financial aid

and housing at COB, spoke of -

the’ students’ responsibilities)as
“social changing agents” in part-

‘nership with the college. o” *

Students Aleshia Colebrook
and Denika Major both said

how vital the scholarships were -

to their attending COB and
expressed their gratitude to
Family Guardian.

Roderick Malone, who is
studying law, said that such are
the demands of the law pro-
gramme that he has no oppor-
tunities to work, so without the
scholarship he would not be
able to pay for his tuition. He
also expressed his gratitude.

















DELTEC BANK & TRUST congratulates NICOLE THOMPSON on recently passing the Series

| 6 and Series 7 exams in Fort Lauderdale. The Series 6 is the NASD Investment Co. Products/V ariable

Contracts Rep. Exam and the Series 7 is the NASD requirement for Registered Representatives to

|) trade on the Stock Market Exchanges and in the Over-the-Counter Market. | Shown above are

\\ Angela Haven (Human Resources Manager), Nicole Thompson (Senior Operations Administrator)

and Sherene Saunders (Instructor for both courses and Deltec’s Mutual Fund Manager/Manager of
Processing, Operations).



ei gene: Ghar

i
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i,
NY

\\
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YY

‘



A FRIENDLY REMINDER
MASS DISCONNECTION EXERCISES
IN THE FOLLOWING AREAS:

e Blair Estate « Johnson Road « Step St. ¢ Bernard Road
* Kool Acres © Fox Hill * Yamacraw Beach Estate « Elizabeth
Estate e Eastwood Sub ¢ Colony Village « Nassau East Estate
° Winton Meadows * Mason’s Addition * Leeward East &
Twynam Hwights ° East St. « Market St. ¢ Wulff Road |
e Blue Hill Road * Montell Heights « Ridgeland Park and all
side corners ¢ Pinewood Gardens « Joan’s and Domingo
Heights * Bamboo Town ¢ South Beach Marshall Road
e Seven Hills and Gamble Heights « Pastel and Faith Gardens
e Sunshine Park ¢ Silver Gates ¢ Golden Gates
° Blue Hill and Bel Air Estate.

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PAY ALL ARREARS ON YOUR BEC BILL IMMEDIATELY!

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or the Main Post Office.

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PAGE 12, TUESDAY, JANUARY 16, 2007. THE TRIBUNE
. r ’ 24 r . rm ") 4 is l



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SPORTS

The Biiawi Hecald |







TUESDAY, JANUARY 16, 2007 INTERNATIONAL EDITION








PRO FOOTBALL
COMMENTARY



MARK TERRILL/AP

COACH’S STROLL: Patriots head
coach Bill Belichick walks the
sideline as his team meets the
Chargers in their AFC playoff
game in San Diego on Sunday.

Never, never
write off
the Patriots

BY DAVE GOLDBERG
Associated Press
Someone always seems to make a
big play at a critical time to help the
New England Patriots win a game
they have no business winning.
Take Troy Brown, for instance,
New England’s 35-year-old wide
receiver/defensive back/return man.
Or Kevin Faulk, the Patriots’ do-it-all

' running back. Or even Stephen Gost- _

kowski, the rookie drafted to replace
Adam Vinatieri, the NFL’s best big-
- game kicker.

All three came through for the —
Patriots in Sunday’s 24-21 victory at
San Diego that sent New England to
_ the AFC title game in Indianapolis
next week.

Anyone feel like suggesting that

.the Patriots shouldn’t be favored to
win their fourth Super Bowl in six
seasons, equaling what Pittsburgh did
between the 1974 and 1979 seasons?

“I’ve said this many times,” one

~,.coach said after Sunday’s game. “In _
the playoffs, you’re given an opportu-

nity to make plays. And you have to °

_ seize those opportunities and make —

_the plays and youll benefit from

“those,” :

~ heimer of the Chargers, who domi-
nated the game physically but lost

- because they committed a couple of
.dumb emotional penalties that gave
the Patriots points. They also fumbled
at the worst time and squandered’
their timeouts, forcing them to try a
tying field goal from 54 yards with no
time left. —

That’s why Bill Belichick is 13-2 in’
the postseason and Schottenheimer is
5-13.

Belichick’s teams take advaritaze of

_ “the opportunity to make plays” — by

Brown, Faulk or Gostkowski. By Mike _
Vrabel, Richard Seymour, Tedy Brus-.

chi or Rosevelt Colvin.
Schottenheimer’s don’t.
. It’s not an accident.
The Patriots, just the fourth-seeded

_ team in the AFC, are never the same

from week to week. They’re a team

whose runners are far better than

their receivers — they stopped run-

- ning when they couldn’t Sunday and

still won despite being outrushed

148-51.
More important, Belichick seems
to instinctively know who'll help his
team after he lets the likes.of Vina-
tieri, Deion Branch, Willie McGinest
and other important players leave. It
all goes back to safety Lawyer Milloy,
who he let go at the start of the 2003
season, just after the Patriots had won
the first of their three Super Bowls.

Belichick doesn’t necessarily select |

“stars” for his team.

‘Despite their success, the Patriots
usually have fewer Pro Bowlers than
other good teams, such as San Diego,
which had nine this season. New Eng-
land has one: defensive lineman Rich-
ard Seymour, who because of injuries
wasn’t as good as he usually has been.

But he gets playmakers. Or guys he
thinks will be playmakers, like Jabar
Gaffney, who has two consecutive
100-yard games in the playoffs after
having just one in the past six seasons
with Houston. Gaffney’s 18 receptions
in the playoffs are seven more than he
had in the regular season after being
signed off the street.

Most of all, Belichick loves role
players. And role players often win
him games.

“If you put them in one particular
spot, you might have a guy that’s bet-
ter at that one thing than they are,” he
said. “But when you look at the play-
er’s versatility, his intelligence, his
physical skills, his ability to under-
stand concepts and adapt to different
situations, that he just has so much
value on a broad base, that that’s
really more valuable to your team

° TURN TO GOLDBERG

WOMEN’S COLLEGE BASKETBALL | NO. 2 NORTH CAROLINA 82, NO. 6 CONNECTICUT 76

Tar Heels rer

BY JOEDY McCREARY
Associated Press

CHAPEL HILL, N.C. — ‘Ivory
Latta’s 3-pointer with 1:02 remain-
ing gave North Carolina the lead
for good, and the second-ranked
Tar Heels remained undefeated by
beating No. 6 Connecticut 82-76 on
Monday night.

LaToya Pringle scored 18 points
and Erlana Larkins added 15 points
and 16 rebounds for the Tar Heels
(20-0), who blew a 15-point lead
and overcame 26 turnovers to
remain one of two teams with per-
fect records.

Kalana Greene had tied it at 76
with 2:12 to play, and Latta threw
‘the ball away on North Carolina’s
next possession. But she soon
made up for it by taking a pass at
the top of the key and hitting a
clutch 3 to put North Carolina
ahead to stay. She added two free
throws in the final minute to seal



the victory.

Greene had 23 points to lead the
Huskies (14-2), who lost their third
straight in the series, —

Latta finished with 14 points
while Camille Little added 13 for
the Tar Heels, who kept pace with
their archrival — No. 1 Duke — as
the lone remaining unbeatens.

UConn had used a furious rally
to erase a 15-point deficit. The Hus-
kies outscored North Carolina 17-4
over a 6-minute span, pulling to
64-62 on Tina Charles’ layup with
7 minutes left. They took their first
lead 2 minutes later when Renee
Montgomery’s short jumper made
it 70-68 with 4:52 to play.

North: Carolina took its big sec-
ond-half lead when back-to-back
3-pointers by Rashanda McCants
and Latta and a short jumper by
Camille Little made it 60-45 with 13
minutes to play.

Two years ago, the Tar Heels

rain undefeate

went to Hartford, Conn., and

handed Geno Auriemma the worst
home loss of his career, a 77-54
rout that left the veteran coach
speechless.

His resilient Huskies wouldn’t
let North Carolina do it again.
UConn survived a miserable first-
half stretch in which it made 3 of 19
shots and fell behind by 11.

It was the second straight rough
game for Montgomery against a
high-profile foe. Eleven days after
Tennessee held her to four points,

Montgomery finished with six on |

3-of-15 shooting against the Tar
Heels.
e MORE COLLEGES

MONDAY DRIVER: UNC’s
lvory Latta, right, drives to
the basket over UConn’s
Brittany Hunter on
Monday .in Chapel Hill, N.C.







SARADAVIS/AP

‘That coach was ‘Marty hotten=_ oS

PRO BASKETBALL | WASHINGTON 114, UTAH 111



renas bal



PABLE MARTINEZ MONSIVAIS/AP

TAKING THE 3: The Wizards’ Gilbert Arenas, left, shoots a 3-pointer over the Jazz’s
Derek Fisher, center, and Mehmet Okur in the closing minutes of the fourth quarter
on Monday in Washington. Arenas hit three 3-pointers in the final minutes and scored
a game-high 51 points as Washington won 114-111.



TENNIS | AUSTRALIAN OPEN

4



Wizards’ guard
scores 51 points

Associated Press

WASHINGTON — Gilbert Arenas had 51
points, including a 3-pointer as the final horn
sounded, and the Washington Wizards snapped
a two-game losing streak with a 114-11] victory
over the Utah Jazz on Monday.

In the final 2:09, Arenas hit three 3-pointers
and three free throws to eclipse the 50-point
mark for the third time in his career, all this sea-
son. He shot 14-for-29 from the field and 16-
for-17 at the free-throw line. He also had five
assists and committed only one turnover in 41
minutes.

It was the seventh time this season Arenas
scored 40 or more points and the most points
he’s ever tallied at the Verizon Center.

Carlos Boozer’s putback of Derek Fisher’s
3-point airball tied the score at 111 with ll sec-
onds left.

Arenas took the ensuing inbounds pass and
ran the clock down until he launched the game-
winner over Deron Williams.

Caron Butler had 21 points and seven
rebounds for the Wizards, who won their eighth
straight at home and improved to 15-3 at the
Verizon Center. Brendan Haywood added his
fifth double-double of the season with 10 points
and 10 rebounds.

Mehmet Okur led Utah with a career-high 38
points and nine rebounds. Carlos Boozer added
27 points and 13 rebounds, giving him five dou-
ble-doubles in the past six games. Deron Wil-
liams added 12 points and 13 assists for his 10th
double-double of the season.

After Arenas’ 3-pointer tied the score at 1:06
with 1:40 left, Okur’s 3-pointer gave Utah a
109-106 lead. Arenas responded with three free
throws to tie the score with 1:09 remaining.

Jarvis Hayes’ follow shot gave Washington at
111-109 lead with 24 seconds left, but Boozer’s
follow tied it at 1, setting the stage for Arenas.

Antawn Jamison’s 3-pointer capped an 11-0
run that pulled the Wizards to 60-59 with 8:22
remaining in the third quarter.

The Jazz, who led by 16 points in the first half,
outscored the Wizards 30-18 in the paint during
the first half and led 58-48 at halftime.

@ MORE NBA

Bumpy start, vintage finish for Federer

BY JOHN PYE
Associated Press

MELBOURNE, Australia — Roger Federer
dropped serve three times and shanked a cou-
ple of forehands. He was slashing around the
court like the rookie he was when he last lost to
Bjorn Phau.

Then everything clicked.

Federer went on a nine-game winning streak
— yielding only six points in the second set —
and won 7-5, 6-0, 6-4 to begin his Australian
Open title defense.

The top-ranked Swiss opened his quest for a

10th Grand Slam crown against an opponent.

who until Monday could boast of a winning
record against the almost untouchable Federer.

The first set had more ups and downs than
unusual, giving Federer the jitters. It also rekin-

dled memories of years when he was far from
the game’s pre-eminent player.

“I came up on tour and J got many, many
wild cards, especially after finishing the junior
year in ’98 as No.1,” he said. “So I was thrown in
with the big boys very early.

“Yhat was a great experience for me, but I
wasn’t the player like maybe Roddick, Hewitt
and Safin and Nadal who came out, and just
right ‘away consistently won matches. I had a
real drought of six months where I was really
struggling to win matches.”

Like that time in 1999 when he lost 6-2, 6-3 to
Phau, a proficient baseline player from Ger-
many lacking any big weapons.

“That match was really hot I remember. ... I

* TURN TO OPEN



GREG WOOD/AFP/GETTY IMAGES
WATCHING RETURN: Roger Federer hits a
return against Bjorn Phau in their
first-rcund match at the Australian Open.


NFC PLAYOFFS | ANALYSIS.

Grossman: Bart Starr or Bart Simpson

BY JIM LITKE
Associated Press

CHICAGO — After almost
500 throws during the regular
season, half that many in prac-
tice each and every week, and
three dozen more against the
Seahawks late Sunday after-
noon Bears quarterback Rex
Grossman finally let one fly
that kept a city from tossing
him into the lake.

This week, anyway.

For the record, it was a 30-
yard completion to Rashied
Davis, who split the seam on
the right side of Seattle’s zone
defense on a third-and-10 play
in overtime and carried the
ball to the Seahawks’ 36.

“A lot of guys,” Chicago
center Olin Kreutz said,
“wouldn’t throw that pass.”

True.

So just for good measure,
Grossman tempted fate once
more before laying the game _
on the foot of kicker Robbie
Gould.

After handing off twice to
Cedric Benson for 4 yards,
Grossman went back to pass
and was flushed from the

pocket. He took off to his right,

running for his life on one of
those Poe adventures

NFL NOTES

that all too often have been
preludes to disaster.

This time, though, instead
of trying to do too much,
Grossman simply threw it so
far out of bounds that the ven-
dors in the stands were more
likely to fight over it than any-
body wearing a uniform. He
then wisely ran off the field
with his head down, nat
looking up until it was time to
track Gould’s game-winning
kick from 49 yards.

“The most important thing

is we won,” Grossman said. “I .

don’t care how we do it, I
really don’t.”

Neither does the town that
would like to adopt him but
can’t get too cozy with a quar-
terback who plays like Bart
Starr one week and Bart Simp-
son the next.

Chicago had enough of that
with Jim McMahon. The
punky QB never dealt well
with authority — he often lik-
ened coach Mike Ditka to
“Sybil.”

But compared to “Good
Rex-Bad Rex,” McMahon was
a model of consistency,on the
field, anyway.

Grossman threw 23 touch-
downs in the regular season,

Grimm front-runner
to be Steelers’ coach

Associated Press”

The Pittsburgh Steelers’
diligence in finding Bill
Cowher’s successor cost
them offensive coordinator
Ken Whisenhunt, a move
that leaves offensive line
coach Russ Grimm as the
clear front-runner. It also
could mean the Steelers will
have their new coach in

place by the end of the week.

Whisenhunt, one of the
NEL’s top offensive coaches,
took the Arizona Cardinals’
job Sunday rather than wait-
ing to see if he would be pro-
moted by Pittsburgh. He will
be officially introduced by
the Cardinals at a news con-
ference today.

While Whisenhunt was
widely considered around
the NFL to be Cowher’s heir
apparent, the Steelers gave
no such indication after
Cowher resigned Jan. 5. Also,
they apparently didn’t make
a counteroffer to persuade
Whisenhunt to stay.

Grimm also interviewed
with the Cardinals, but
unlike Whisenhunt, didn’t
get a second interview. Both
met with the Miami Dol-
phins, who spoke for a sec-
ond time during the weekend
with Georgia Tech coach
Chan Gailey, but have yet to
hire a coach.

Gailey also talked Satur-
day with the Steelers, who
previously interviewed
defensive coordinators Mike
Tomlin of the Vikings and -
Ron Rivera of the Bears.

_ The Steelers also received

permission to meet with
Houston Texans assistant
head coach Mike Sherman,
the other finalist in Arizona,
but no interview has been
scheduled.

Hiring. Grimm, however,
would provide the Steelers
continuity from one coach-

_ COUNTDOWN 1 To SUPER BOWL } XLI

SUPER BOWL XXII

WASHINGTON 42, DENVER 10

e Jan. 31, 1988

e Jack Murphy Stadium, San Diego
e MVP: GB Doug Williams, Washington

Being the first black quarterback in the Super
Bowl led to incessant questioning and much
fanfare, but then Doug Williams let his arm do
the talking with a 35-point explosion in the

ing regime to another and
would allow them to keep
most of their assistant
coaches. All are under con-
tract for next season, but a
coach hired from outside the
organization would most
likely want to choose his ©
own staff.

-Whisenhunt may take
quarterbacks coach Mark
Whipple with him as offen-
sive coordinator, meaning
the two coaches who have
closely worked with quarter-
back Ben Roethlisberger
the last three seasons would
be gone.

PACKERS

Green Bay promoted Joe
Philbin to replace Jeff
Jagodzinski as the team’s
offensive coordinator Mon-
day.

Philbin is in his fifth sea-
son with the Packers. He pre-
viously served as Green
Bay’s assistant offensive line
coach and tight ends/assis-
tant offensive line coach.

Jagodzinski was hired as
head coach at Boston College
last month.

Winston Moss was also
promoted to assistant head
coach/defense, James Cam-
pen to offensive line coach
and Jerry Fontenot to assis-
tant offensive line coach.

Moss, previously the
Packers’ linebackers coach,
also worked with coach Mike
McCarthy for five seasons
with the New Orleans Saints.

PANTHERS

Carolina fired offensive
coordinator Dan Henning
and two other assistants
Monday, two weeks after fin-
ishing a disappointing 8-8
season.

Offensive line coach Mike
Maser and secondary coach
Rod Perry were also let go.





second quarter that helped lead the Redskins to

a rout of the Broncos.

But his performance was almost as memorable as the days
before the game, when one story dominated: Williams’ skin

color,

Whena reporter addressed Williams as “Black Doug,” he
politely responded, “[Coach] Joe Gibbs and [general manager]
Bobby Beathard didn’t bring me in to be the first black

The wild, weird,
wacky and
wondrous of past |
Super Bowls

Pld i)



-has

PRO FOOTBALL





JONATHAN DANIEL/GETTY IMAGES

THE BOMBER: Chicago’s Rex Grossman throws a 68 yard
TD pass to Bernard Berrian against Seattle during their
NFC Divisional Playoff game on Sunday in Chicago.

offset by 20 interceptions.
He’s been the league’s highest-
rated quarterback a handful of
times and its lowest-rated
almost as often. No wonder
every week became a referen-
dum on whether to bench
Grossman in favor of backup
Brian Griese. With the Bears’
bye giving fans two weeks to
rage, the latest debate was the
loudest.

AFC PLAYOFFS



After Sunday’s 27-24 vic-
tory, Grossman was asked:
“How long have the last two
weeks been?”

Thankful for an easy ques-
tion, Grossman smirked.

“Fourteen days,” he said.

Without prompting, he
added, “I think you give your-
selves too much credit how
(the criticism) affects me. It
affects my family more than it

MICHAEL CONROY/AP

CHANGING ‘D’: Colts coach Tony Dungy says he sees a
change in the way his team is playing defense.

Patriots will see
new Colts defense

BY CLIFF BRUNT

Associated Press
INDIANAPOLIS — The

Indianapolis Colts’ defense

was bashed by opponents and

‘ critics for most of the regular

season.

It suddenly figured out how
to counterpunch in the play-
offs.

By keeping opposing
offenses out of the end zone
and off the field, the once-ma-
ligned defense has taken Indi-
anapolis right into Sunday’s
AFC championship game
against New England.

“We're playing better,”
coach Tony Dungy said.
“We're tackling a little bit bet-
ter. We’ve always had a pretty
good rush in the long-yardage
situations, but in the third-
and-S, third-and-6, we’ve tack-
led the underneath throws a
little bit better.”

The dramatic turnaround
surprised everyone,
except perhaps the Colts.

Dungy insisted all season
that Indy’s biggest problems
were fixable. Many thought it
was impossible after the Colts
(14-4) surrendered a league-
high 173 yards rushing per
game, even giving up a hefty
375 yards to Jacksonville in



#8



Redskins.”

faced:

ae




December.

The Colts blew what many
considered their best Super
Bowl chance last season witha
shocking home loss to Pitts-
burgh. This season, they stum-
bled into the playoffs with
four losses in six weeks, and
conventional wisdom sug-
gested the Colts would make
another quick postseason exit.

Instead, a defense long con-
sidered the biggest impedi-
ment to a Super Bowl run, has
played more like the ’85 Chi-
cago Bears than the ’06 Colts
for two straight weeks.

“T think we’re playing con-
sistently well for 60 minutes,
and we’re playing with an
intensity that’s been
unmatched,” former Pro Bowl
linebacker Cato June said.

Kansas City managed 126
total yards in a 23-8 wild-card
loss and Larry Johnson carried
only 13 times for 32 yards.

At Baltimore on Saturday,
the Colts were more impres-
sive. While the Ravens pro-
duced 244 yards in offense,
they rushed for only 83 and
Indy beat the NFL’s top-
ranked defense at its own
game in a 15-6 victory — keep-
ing the Ravens out of the end

zone,

quarterback in the Super Bowl. They brought
me in to be the quarterback of the Washington

A sampling of the questions Williams, 32,

@ “Doug, would it be easier if you were the
second black quarterback to play in the Super

“Doug, are you upset about all the
Sieaiene about your being the first black
quarterback in the Super Bowl?”

e@ “How long have you been a black
quarterback?”

The last question elicited an exchange with
Williams, an account of which appeared in The Los Angeles
Times: “Incredulity spread over Doug Williams’ face. He sighed.
‘Well, first of all,’ he said, ‘I’ve been black all my life. Secondly, I’ve
never been a white quarterback. But | don’t think I'd be any
different if | were. | don’t think the football cares.’ "

- SARAH ROTHSCHILD







affects me.”

His teammates, taking their
cue from stubborn Bears
coach Lovie Smith, have bailed
Grossman out a few times and
supported him after every one.
But you had to wonder how
long that would have lasted
Sunday had Grossman’ first
pass not bounced off the hands
of Seahawks cornerback Jor-
dan Babineaux on the second
play of the game and into the
waiting arms of Bears wideout
Bernard Berrien.

“When the ball bounces
your way,” Berrien said,
“sometimes that’s because it’s
meant to be.”

Other times, it meant abso-
lutely nothing.

Grossman has had great
throws tipped into the wrong
hands for interceptions and
poor throws, like the one Babi-
neaux could have stolen and
sent the Bears into an early
funk, work out wonderfully.
One reason his teammates
consistently cover his back is
Grossman behaves the same
either way.

He doesn’t point fingers,
and so far, they’ve returned
the favor. It makes no differ-

ence whether the town and the

* GOLDBERG

even than a guy who’s better
at one.

Enter Brown, who’s been
with the Patriots for 14 sea-
sons as a wide receiver, kick
returner and occasional
defensive back.

He made the play of the
game Sunday, knocking the
ball loose from San Diego’s
Marlon McCree after
McCree intercepted a pass
by Tom Brady with just over
six minutes left and the
Chargers leading 21-13. .

The Patriots went on to
score and tie the game ona
2-point conversion run ona

direct snap to Faulk — never

a star, but a valuable con-

tributor as a runner, receiver

and return man in his eight
seasons with New England.

* Brady, who was inter-
cepted three times, then
came through as usual in the
clutch, driving the Patriots
from their own 15 to the San
Diego 13 to set up Gostkows-
ki’s winning field goal. The
big play: a 49-yard pass to
Reche Caldwell, who had 66

receptions in four years with

the Chargers, but hada
team-leading 61 for the
Patriots this season after
signing as a free agent.
That’s the kind of game
that gets into the heads of
opponents — the “Uh-oh.
Here come the Patriots,”
mind-set that dooms some
opponents before they even
step on the field.
/ That’s not likely to hap-
| pen to Indianapolis,
| although it was beaten by
| New England in the 2004
| AFC championship game .
| and again the next season in
the second round.
For one thing, the Colts,
whose defense has been
| reborn in these playoffs, also
| seem to have learned how to
| win ugly, as evidenced by
their 15-6 victory in Balti-





____MiamiHerald.com_| THE MIAMI HERALD

newspapers lionize him, as
they did early in the season, or
call for his head, as they often
did at the end.

“They love to hate him, I’ll
tell you that much,” Bears line-
backer Brian Urlacher said.
“The media is all over him.

“But us as a team, and our
head coach? He’s our guy. We
believe in him. He comes
through for us,” Urlacher
added, “when he has to.”

Grossman must do it again
next week when the Saints
come to town — with a much
stronger offense and a healthy
secondary to boot. The Sea-
hawks were so devastated by
injuries to their defensive
backs that they played Pete
Hunter, who was working in a
Dallas-area mortgage office
until recently, at one spot and
left overmatched rookie Kelly
Jennings out there in another. ©
Grossman knows the pickings
won't be that easy against
New Orleans.

“We're in the NFC champi-
onship, and we win one game,
we're in the Super Bowl,”
Grossman said. “Two wins
away,” he said, “from having a
ring on my finger for the rest
of my life.”

FROM THE SPORTS FRONT

‘Never dismiss Patriots



DENIS POROY/AP

PATRIOTS PASSER: New
England QB Tom Brady
fires a pass against the
Chargers.on Sunday.

more. All of the Colts’ scor-
ing came on five field goals
by Vinatieri, who signed
with Indianapolis as a free
agent and is sure to be one of
the much-hyped subplots to
this title game.

And Peyton Manning,
who struggled against the
Patriots in those two post-_
season losses, has played
well against them in regular-
season victories the last two
years.

In fact, Indianapolis may
even be glad it’s playing
New England instead of San
Diego, which manhandled
them last season and would
have been the home team if
it had won. The home-field
advantage has led the odds-
makers to make the Colts
3-point favorites for Sun-
day’s game.

No, Vinatieri probably
won’t miss a potential tying
field goal by 30 yards, as
Mike Vanderjagt did last
season for the Colts in the
playoffs against Pittsburgh.

But somewhere in the
collective psyche of the
Colts, there has to be this
thought:

“Uh-oh. Here come the
Patriots.”

6 P.M. EST SUNDAY; FEB. 4, 2007
DOLPHIN STADIUM ® ON TV: CBS

GETTY IMAGES FILE PHOTO


THE MIAMIHERALD | MiamiHerald.com



BASKETBALL | WOMEN’S POLL
Duke returns to
the No. 1 ranking

BY CHUCK SCHOFFNER
For The Associated Press

Duke found its way back to
No. 1 in the AP women’s bas-
ketball poll, despite losing four
key players from last season,

The Blue Devils jumped
over North Carolina to replace
Maryland at the top of the poll
Monday, two days after beat-
ing the Terrapins 81-62 with
an impressive display of bal-
ance and defense. North Caro-
lina remained second and
Maryland, which had been No.
1 all season, slipped to third,

There also were changes at
the bottom, with Mississippi
and Kansas State joining at
24th and 25th. Arkansas and
DePaul dropped out.

Duke began the season with

some questions after losing
second-team All-American
Monique Currie and two oth-
ers to the WNBA draft. The

Blue Devils were No, 1 for five.

weeks last season and lost to
Maryland in overtime in the
national championship game.

The Blue Devils also are.

without 6-foot-5 junior Chante
Black, who has yet to play this
season because of a hyperex-
tended right knee,

So to be 18-0 and ranked
No.1 — yes, coach Gail Goes-
tenkors is surprised,

“We knew our players had
to adjust to new roles,” Goes-
tenkors said, “Our role players
had to become go-to players.
I’m impressed how quickly

they've adjusted to their new.

roles and embraced their new
roles.”

They’ve adjusted so well
that Duke has defeated six
Top 25 teams. The closest
game in that bunch was a nine-
point win over Bowling Green,
now ranked 18th,

“I was worried a little early
on with our nonconference
schedule; knowing it was'diffi-
cult-and then how tough the
ACE was going to be,” Goes-
tenkors said, “We knew we
were young and searching for
a new identity and thought we
might hit some bumps along
the way. This team has really

responded to every challenge .
- Blue Demons have lost three

it faced.”

The Blue Devils certainly
have responded on the defen-
sive end. They're giving up
just 46.8 points a game and
holding opponents to 30 per-
cent shooting, Maryland is the
only team that has scored
more than 54 points on Duke,

Guard Lindsey Harding, the
ACC defensive player of the
year last season, sets the tone
with her quickness, Harding
and the other perimeter play-
ers can gamble because they
have 6-7 Alison Bales lurking
near the basket, Bales already
has blocked 87 shots,

“Tt probably took a year for
our guards to understand that
they can get out and pressure
a little more because Allie has
their back,” Goestenkors said,
“This year we've become a lot
more comfortable getting out
and pressuring people and
changing defenses,”

Duke received 37 of 50 first-

FOOTBALL NOTES

Ginn leads
draft list

Assoclated Press

Ted Ginn Jr. and Adrian
Peterson: both sprinted to
touchdowns the last time they
touched the ball in college.
Next up, they hope to score
big in the NFL,

Ginn, Ohio State’s game-
breaking receiver and return
man, and Peterson, Oklaho-
ma’s fleet running back, will
pass up their senior seasons to
enter the NFL draft. Monday
was the deadline for under-
classmen to declare their
intentions,

A week after his team lost
to Florida 41-14 in the national
championship game, Ohio
State tailback Antonio Pitt-
man also said he was leaving
early for the NFL,

Record-breaking Hawaii
quarterback Colt Brennan
declared himself eligible for
the draft, too, but left himself
the option of returning to the

place votes from a national
media panel and had 1,235
points — 23 more than North
Carolina, North Carolina
(19-0), which went into a game
against Connecticut Monday
night as the only other
unbeaten team in Division I,
had the remaining 13 first-
place votes,

Maryland (18-1) had 1,128

points, just six more than No.
4 Tennessee (16-1), which
hosts Duke next Monday.
Ohio State was fifth, followed
by Connecticut, Oklahoma,
LSU, Stanford and Arizona
State,
LSU dropped three spots
after splitting two games, los-
ing to Mississippi and beating
Mississippi State. Ohio State,
UConn and Oklahoma each
advanced one spot,

George Washington
climbed one place to llth and
Purdue went from 13th to 12th,
Then it was Baylor, Vanderbilt
and Louisville, followed by
Georgia, Texas A&M, Bowling
Green, Marquette and Middle
Tennessee,

Baylor had the biggest drop
within the poll, falling from
ninth to 13th after losing to
Oklahoma and Texas A&M.

California, Texas, Michigan
State, Mississippi and Kansas
State held the final five places.

Mississippi (15-4) made the
Top 25 for just the second time

_ since March of 1996, The Reb-

els were ranked once last sea-
son, getting in at No. 24 on
Dec, 19, 2005,

Ole Miss, which beat Van-
derbilt four days before
knocking off LSU, has won six
straight and eight of its last
nine,

Kansas State (14-2)
received its first national rank-
ing since it was 16th in the
final poll of the 2004-05 sea-
son. That was the last of 67
straight appearances in the
Top 25 for the Wildcats, who
have won Jl of their last 12,
Their only loss in that stretch
was to Oklahoma.

DePaul (11-6), which was
24th last week, has seen its
roster thinned by injuries. The

straight and five of six, Arkan-
sas (16-3), which had been
25th, beat Auburn in its only
game last week but lost to
Vanderbilt and Mississippi
State in previous games.

The No. ] ranking was the
26th for Duke, which was
bumped from the top spot
twice last season. The Blue
Devils led the first three polls
before being replaced by Ten-
nessee, even though they
didn’t lose until late January.
Duke returned to No, 1 on Feb,
13, but dropped to second two
weeks later after losing at
North Carolina,

“I’m proud for the players.
They've been working so hard
over the course of the season
to gain respect,” Goestenkors
said, “But it’s become pain-
fully clear to us that rankings
and such really don’t matter,

We probably understand that

better than most teams,”



MARK TERRILL/AP
BIG SCORING THREAT: Ohio
_ State's Ted Ginn Jr. scores
on a kickoff return in this
year’s BCS championship.

Warriors.

Louisville quarterback
Brian Brohm, however, said
he was staying in school,

Louisville coach Bobby
Petrino resigned Jan, 7 to
become coach of the Atlanta
Falcons, and star running back
Michael Bush is entering the
draft after missing most of the
season with a broken right leg.

Also, Charleston Southern
receiver Maurice Price will
skip his senior season and
enter the draft.







COLLEGES

BASKETBALL | MEN’S



j
|
COLLISION COURSE: Marquette’s Jerel McNeal goes to |
the basket against Louisville’s Juan Palacios during
Monday’s game. McNeal scored 15 in the victory.

No. 24 Marquette _
fights off Louisville

From Miami Herald Wire Services

LOUISVILLE, Ky. ~~
Dominic James scored 18
points, including 0 during a
decisive second-half run, to
lead No. 24 Marquette to a
74-65 victory over Louis-
ville on Monday night,

The Golden Eagles (16-4,
3-2 Big East) returned to the
Top 25 earlier in the day,
and celebrated by halting
Louisville’s modest two-
game winning streak with
their second consecutive
road victory and third over-
all, :

Ousmane Barro had 14
points and 11 rebounds,
Wesley Matthews added 17
points and Jerel McNeal
scored 15 as the Golden
Eagles fought through a
sluggish first half and
pulled away Jate behind
James.

James was 4-of-7 frorm
3-point range, hitting three
during a 13-4 run midway
through the second half, He
raised his arms after the last
one gave Marquette a 60-46
lead.

David Padgett bad 18
points and nine rebounds
for Louisville (12-6, 2-2),
which shot 42 percent from
the field in losing its 12th
consecutive game against a
ranked opponent.

Marquette won at Con-
necticut last Wednesday
and beat West Virginia at

- home on Saturday,
y

Both thase teams were
ranked when the Golden
Eagles beat them.

Louisville had used a
smaller lineup to win con-
secutive Big East g games for
the first time since joining
the conference last season,

FOOTBALL | HULL:



TOP a5

ANDY LYONS/GETTY IMAGES



i
but the Golden Eagles |
adjusted after a slow start |
and raced by the Cardinals
in the second half.

Marquette trailed 28-22 |
with about 5 minutes left in
the first half, but put
together a 25-4 run over the
next 9 minutes, eventually
building a 47-32 lead,

Louisville reeled off 10
consecutive points to get
back within five, but then
James went to work,

All three of his 3-point-
ers were from well beyond |
the line and he later addeda
running layup that helped
the Golden Eagles hold off |
one final Louisville surge. |

The Cardinals finished |
4-of-18 on 3-pointers and
couldn’t find much offense |
except for Padgett.

Jerry Smith scored
points and Terrence Wil- |
liams added 10 for Louis: |
ville, but the Cardinals |
couldn't take advantage ofa
handful of late Marquette |
turnovers,

KANSAS SURVIVES |

LAWRENCE, Kan. —
Freshman Sherron Collins
scored seven of his career-
high 23 points in the final
2:15 of the game and fifth-
ranked Kansas held off Mis-
souri 80-77,

Brandon Rush added 16
points and Julian Wright |
had 10 rebounds for Kansas |
(16-2, 3-0 Big 12), which
won its 10th consecutive
game and extended the
Tigers’ losing streak to
four, |

The Tigers (11-6, 0-4) |
have not won in Lawrence
since a 73-61 victory on Jan,
24, 1999,

& BOWL,

INTERNATIONAL EDITION _

_ TUESDAY, JANUARY 16, 2007 | 7E



BASKETBALL | MEN’S POLL

Florida back
in top spot

BY JIM O'CONNELL
Associated Press
- Florida is back at No. 1 in
The Associated Press’ college
basketball poll for the second
time this season, Virginia
Tech is in the Top 25 for the
first time in more than a dec-
ade,

The Gators regained the
top basketball ranking a week

after Florida’s football team -

won the national champion-
‘ship with a 41-14 rout of Ohio
State, !

Florida, the defending
national basketball champs,
moved up from second on
Monday, following North Car-
olina’s loss to Virginia Tech
over the weekend, The Gators
were on top of the preseason
rankings and the first poll of
the regular season before fall-
ing as low as seventh six
weeks ago.

“This time of year in col-
lege basketball, the Noa, 1 is
going to rotate like the yellow
jersey in bike riding with
teams handing it off,” Florida
coach Billy Donovan said
Monday, “We’re proud that
over the last four, five years
we have had a chance to get to
No, 1 on different occasions,
but it doesn’t mean a lot right
now.

“It’s a great honor, but right
now it’s not what you do as
much as what happens to
other teams. We wouldn't
have had the chance to move
up if North Carolina hadn't
lost.”

Wisconsin and UCLA both
moved up one place to second
and third, while North Caro-
lina dropped three spots after
holding the No. 1 ranking for
one week. All four teams
received first-place votes from
the 72-member national media
panel,

Virginia’ Tech's
appearance in the rankings
since the final poll of the
1995-96 season came on the
heels of wins over then-No, 5
Duke and North Carolina, The
Hokies (13-4), winners of four
straight and nine of 10, came in
at No. 23.

“Obviously it was a good
week, that’s probably an
understatement,” Virginia
Tech coach Seth Greenberg
said Monday. “It was last week
and now we're in this week,
I've been in this long enough
to understand that if you live
in the past and not the present,
it will suffocate you, The
unpredictability of college
basketball is evident each and
every weekend.”

Florida (16-2) received 43
No. 1] votes and had 1,761
points, Wisconsin (17-1), had 21

_ first-place votes and 1,722

points to reach its highest
ranking in school history,
UCLA (15-1), which held the
No. 1 ranking for six weeks
before turning it over to North
Carolina, had seven No, 1

‘votes, while the Tar Heels

(15-2) had the other first-place
vote,

‘first |

‘Kansas and Pittsburgh both
moved up one spot to fifth'and:
sixth, while Ohio State, which
lost at Wisconsin on Tuesday,
dropped two spots to seventh,
Texas A&M held at eighth,
Oregon, which won at Arizona
on Sunday for its second win
in eight days over a Top 10
team (UCLA), jumped from
15th to No, 9, Alabama, which
beat LSU in its only game last
week, moved from l4th to
round out the Top 10,

Arizona dropped one place
to llth and was followed by
Oklahoma State, Air Force,
Duke, Nevada, LSU, Memphis,
Butler, Clemson and Notre
Dame.

Clemson (17-1) was the last
unbeaten team in Division I
before losing 92-87 at Mary-
land on Saturday,

Texas and Tennessee were

Zlst and 22nd, and were fol-.

lowed by the week’s three

newcomers, Virginia Tech,

Marquette and Kentucky,
This isn’t Greenberg's first
appearance in the Top 25, His
Long Beach State team moved
in at No. 25 on Jan, 18, 1993, and
were out one week later after a
loss to Cal-Santa Barbara.
“Oh, I remember that,” said
Greenberg, who is in his
fourth season at Virginia Tech.
“It does mean something to be



in the rankings but if you're ,;,

out the next week it doesn’t
really mean anything, Unfe

tunately in college baskef@
today only one thing mam
something and that is tha§
of 65 in March.” :

Greenberg took Long Be ach

State to the NCAA tourna-
ment in 1993 and 1995, The
Hokies haven’t been in the
tournament since 1996,

“The message is very sim-
ple,” he said, “Obviously what

" we've been able to do over the

last two weekends is terrific
but it has nothing to do with
the next several weekends.”

The three teams that fell
out of the rankings were West
Virginia, which lost to Notre
Dame and Marquette; Wash-
ington State, which moved in
for the first time since 1983 but
lost to Stanford; and Connecti-
cut, which had lost three of
four before beating St. John’s
on Saturday. —

Connecticut (13-3) had the |

second-longest active consec-
utive streak of 67 polls, dating

to the final voting of the-.
2002-03 season. Duke has the.

longest streak, 196 polls, a run
that started with the preseason
poll of 1996-97, UCLA and
Memphis now share the sec-
ond-longest current streak at
30 polls,

UCLA holds the all-time
record for consecutive polls,
221, a streak that went from
1966 to 1980,

There are five games

involving two ranked teams
this week: Texas at Oklahoma
State; North Carolina at Clem-
son; Oklahoma State at Texas
A&M; Arizona at UCLA; and

Marquette at Pittsburgh.

Zabransky on other side of big bowl comeback

BY JAYMES SONG
Associated Press

HONOLULU Boise
State quarterback Jared
Zabransky found himself on
the other side of an improba-
ble comeback,

The Aina scored 15 points
in the final minute of the
game to beat Zabransky’s Kai
team 18-10 in the Hula Bowl
on Sunday night. It was the
first taste of losing for
Zabransky all year.

“You want to win. You
don’t ever play this game to
lose,” he said

Clemson’s Reggie Merri-
weather scored on a l-yard
run with 44 seconds left, and
Tigers teammate Will Proctor
completed a 2-point conver-
sion pass to Tennessee's Bret
Smith to give the Aina an 1-10
lead.

Alabama cornerback

Ramzee Robinson then inter-

cepted Zabransky’s pass and
returned it 44 yards for a
touchdown with 10 seconds



left, giving the Aina team 15
points in 34 seconds.

The Kai, which had a 10-3
lead heading into the final
minute, had one final shot,
but Zabransky couldn't repeat
his Fiesta Bow! magic, with
his desperation pass falling
short,

RONEN ZILBERMAN/AP
BOWL RUN: Bret Smith of Tennessee on the Aina team,
left, runs for yardage against the Kai team and David
Lofton of Stanford on Sunday night.

It was a thrilling finish to a
game that was a defensive
struggle.

With no overtime allowed,
the Aina had to go for 2. The
play was drawn up on the
ground and didn’t work go
exactly as planned, Kai coach
Rich Rodriguez, of West Vir-

ginia, said.

“J just. threw it up at the
back of the end zone and he
made a spectacular catch,”
Proctor said,

With the game in hand and
the Kai trying to run out the
clock, Wisconsin QB John
Stocco fumbled, giving Aina
the ball on the Kai 39 with less
than 3 minutes to play,

Proctor then completed a
20-yard pass on third-and-ll

_to Smith to set up the Aina’s

first touchdown.

Proctor finished 9-of-15 for
107 yards and earned MVP
honors for the Aina while
Elon linebacker Chad Nkang,

- who had nine tackles, was

named MVP for the Kai,
Zabransky was 7-of-12 for 67
yards with.a touchdown and
the late interception.

On the opening series,
Zabransky threw a swing pass

to Hawali’s 250-pound rup- :

ning back, Nate Ilaoa, w.

rumbled 16 yards down “he i

left sideline to score.

SS SSS Sit ES SESS SSS SSS TS SSS SS SSUES




PAGE 8E, TUESDAY, JANUARY 16, 2007

TRIBUNE SPORTS.



| BS

Federer,
Roddick

overcome
first-round —
jitters

TENNIS
MELBOURNE, Australia
Associated Press

EVEN Roger Federer gets
jittery in the first round of a
Grand Slam tournament,

The world’s No, | player and
winner of three majors last sea-
son dropped serve three times
in the first set against Ger-
many’s Bjorn Phau before ral-
lying for a 7-5, 6-0, 6-4 victory
Monday to begin defense of his
Australian Open title.

Amelie Mauresmo, who cap-
tured her first Grand Slam title
last year in Melbourne, also had
a nervous start, and Andy Rod-

dick struggled against a wild-

card entry ranked 212th,

Fourth-seeded Ivan Ljubicic
didn’t make it, falling 4-6, 7-6
(2), 6-4, 6-4 to American Mardy
Fish, who has returned to the
top 50 alter plummeting to No,
341 and undergoing two wrist
operations in 2005.

In the day’s last match,.2005
champion Marat Safin beat
Benjamin Becker of Germany
5-7, 7-6 (2), 3-6, 6-3, 6-4, a3 1/2-
hour contest that ended at 12:30
a.m. in the late-night chill,

Safin showed his renowned
temper and smashed his racket
while continuing his comeback
from a left knee injury that
dropped him to a No, 104 rank-
ing.

Becker’s strong serve and
stinging groundstrokes left the
26th-seeded Russian muttering,
Safin slammed his racket to the
ground after missing a forehand
in the second set. Minutes after
a fan shouted “Get angry!” in
the third, Safin broke his racket,
drawing a warning, He was on
his best behavior the rest of the
way.

Federer’s finals opponent last
year, Marcos Baghdatis, also
advanced, backed again by a
vocal crowd from Melbourne’s
large Greek community, Bagh-
datis, seeded 11th, defeated
Rainer Schuettler 6-4, 2-6, 6-3,
6-2.

Federer feared losing the first
set, which helped him regain
focus.

“I got broken in the first set
three times, and that makes you
a little bit nervous,” said Fed-
erer, who went 92-5 with 12

titles last season and is on the.

cusp of breaking Jimmy Con-
nors’ record of 160 consecutive
weeks atop the men’s rankings.
“You try to stay cool, but I got
a little bit nervous.”

“m happy I’m through
because it looked like it was
definitely going to head for a
first-set loss, but I came
through,” he added. “That’s the
most important.”

That was Roddick’s mantra,
too, after Jo-Wilfred Tsonga,
riding a powerful serve in only
his sixth match in a top level
ATP event, took the first set in
a marathon tiebreaker and
served for the second set. Rod-
dick wasted four set points in
the but came through with a 6-
7 (18), 7-6 (2), 6-3, 6-3 victory.

“J thought it was a pretty
ordinary performance,” the
sixth-seeded American said. “I
think I got a little first-round
jitters. These first matches are a
little bit uncomfortable some-
times. But it got better as I went
along.”

The second-seeded Maures-
mo dropped serve early with
three errors against American
Shenay Perry, then righted her-
self and took control to advance
6-3, 6-4.

Serena Williams, seeking her
eighth Grand Slam title but
unseeded after a rash of injuries,
started slowly, but she picked
up her game to oust 27th-seed-
ed Mara Santangelo 6-2, 6-1 in
an error-plagued night match.
Santangelo had only six winners
to 23 unforced errors while
Williams ripped 10 aces in an
otherwise lackluster service
effort.

“I’m feeling pretty good,”
Williams said. “I came out and
finally did what I was supposed
to do, to a certain level. I feel I
have nothing to lose. There is
only one way I can move, and
that’s up.”

}
}
}
}
}













defeat the Shar! Ss

FROM page one

‘are awful on offence, they are to
quick to shoot.

“The other problem we had
before we even started the game was
two of our players couldn't play.

“One of the girls transferred and
they said she can’t play.

“But there is nothing we can do
about that,

“Better to have learned it early in
the season than late.”

The rush shots by the Lions forced
Johnson to call a time-out in the sec-

-ond half.

When the team returned the court,
their plan was to pass the ball around
five times before anyone looked to
shoot.

But the team failed to carry out
Johnson’s plans opting use the same
strategy before the time-out was

terday, to defeat the § ‘McPherson Sharks,

(Photo: Tim Cate

Lions recover to.

Shatyna Stuart picked off the Lions’
pass.

With an open court in the front of
her, Stuart, the Shark’s point guard,
opted for a jump shot instead of
attacking the basket, hoping to draw
the foul. Hitting her in the back was
Lions’ Shashana Smith,

But Stuart’s rough night from the
line continued. Instead of pulling
her team within one by hitting both
free throws, she only made one.

Johnson added: “We’ve got so
much work to do, I mean there is
so many things this team needs to
work. I have to go back to the draw-
ing board to get things going the way
it is supposed to be.

“These girls are good and they
have a pretty good idea of the game
but they rush their shots too much
for me.”

Johnson is hoping to transform

called.

Just when an irate Johnson = son.
screamed across the floor to her
team to slow the ball down, Sharks’






season.

Skipper Ponting is
rested for Australia’s
next tri-series match

@ CRICKET
MELBOURNE, Australia
Associated Press

PERHAPS England will
have better luck against an
Australian team without Ricky
Ponting.

The Australian captain, after
leading the home side to a 5-0

. Ashes sweep and a win over

England in the first tri-series
limited-overs match and a
Twenty20 international, will be
rested on Friday when the
teams meet again in Brisbane.

Australia beat England by
eight wickets in the series
opener last Friday in Mel-
bourne and then beat New
Zealand by 105 runs on Sun-
day,

Ponting, who has been play-
ing continuously since Sept. ah
will return for the Ne
Zealand match in Sydney ee
Sunday.

Brad Hodge will replace
Ponting in the 14-man squad

for the England match and.

Adam Gilchrist will captain. the
side with Mike Hussey as vice-
captain.

“We feel that Ricky Ponting
needs and deserves a break,"
said selectors
Andrew Hilditch, "We think
this is’the right time for him to

chairman,

allow his body to rest ahead of
the ICC Cricket World Cup."

Ben Hilfenhaus will travel to
Brisbane as injury cover for
Brett Lee and Glenn McGrath,
but both Lee and McGrath will
likely play Friday.

. "Brett Lee feels a lot better
tollowing bronchitis and is
expected to be available for
selection for Friday's game,"

- said Australian team physio-

therapist Alex Kountouris.
"Glenn McGrath had minor
groin soreness and will be
reassessed on Wednesday. But
we are hopeful that he'll be
available for Friday."

@ Australian squad: Adam
Gilchrist (captain), Mike
Hussey, Brad Hodge, Matthew
Hayden, Michael Clarke, Stu-
art Clark, Glenn McGrath,
Andrew Symonds, Brett Lee,
Nathan Bracken, Brad Hogg,
Mitchell Johnson, Cameron
White, Ben Hilfenhaus.

@ A SMILING Australian
captain Ricky Ponting, left,
walks past England's captain
Michael Vaughan after he lost
his wicket lbw for 27 runs in
their 20/20 cricket match at the
Sydney Cricket Ground in Syd-
ney, Australia, Tuesday, Jan.
9, 2007.

the team by the middle of the sea-
The Lions will continue on
Wednesday in the GSSSA’s regular

@ BASKETBALL
GSSSA ACTION

The Government Secondary Schools
Sports Association will continue its
regular season action today at 4 p.m.
At the DW Davis Gym, LW Young
will play CC Sweeting (junior girls),
CH Reeves vs HO Nash (junior boys)
and AF Adderley vs SC McPherson
(junior boys), At DW Davis Gym, CR
Walker vs Government High (senior

girls), CR Walker vs Government ”

High (senior boys) and RM Bailey vs
CC Sweeting (senior boys).

@ BAISS

The Bahamas Association of Inde-
pendent Secondary Schools will con-
tinue its regular season action today at
various sites starting at 4 p.m. The
junior boys and senior girls will be in
action,
@ NPWBA

The New Providence Women’s Bas-

o or “4,
S 5.33 ©

BoE





action ona at the DW Davis Gyn. :
with a double header on tap. The. first
game is scheduled to start at 7 p.m,

SOCCER

GSSSA ACTION

The Government Secondary Schools ' :
Sports Association will be back in.
action today at the DW Davis playing:
field, starting at 4 p.m.

DW Davis will play SC McPherson,
(junior girls) and Dame Doris Johnson:
Mystic Marlins will play CV Bethel.
(senior boys). "4

4

SQUASH — “
NEW YEAR SQUASH LEAGUE

The New Year’s Squash League -
will continue with week two tonight
at 7 p.m. at the Village Squash
Club.

Some of the country’s top players
will be participating on six different
teams,











































GUINNESS
UNITS
OR CALL TOLL FREE: IN NASSAU
AND FREEPORT ON 380-8015.

ONLY OPEN TO CONSUMERS ABOVE
THE LEGAL DRINKING AGE.
PLEASE DRINK RESPONSIBLY.


PAGE 2B, TUESDAY, JANUARY 16, 2007

THE TRIBUNE



The financial costs of |

an election campaign

WITHIN weeks, the major politi-
cal parties will be presenting their slate
of candidates for the upcoming gen-
eral election. For months now, there
has been speculation such as: Who
will be dropped? Who will be the new
faces? Who has ‘skeletons in the clos-
et’? This all made for good ‘juicy’ con-
versation in bars, restaurants, the
workplace and other public places.

Leadership

I wish to go on record as saying to
both the PLP and the FNM that while
winning the next election is your
prime objective, the morning after the
election, one party will have the
responsibility of running the country.
Therefore, it is incumbent upon both
- major parties to be vigilant in ensuring
their ‘party machinery’ - in its desire to
win - does not ‘cross the line’ in attack-
ing offices, positions, and institutions
within the country. Individual candi-
dates are fair game...but not their
families.

The economics of politics

I have never understood the ‘eco-
nomics of politics’. Political candidates
always argue that they seek election in
order to serve the Bahamian people.
This is indeed a noble and correct
stance to take, but the reality is that

INSIGHT

_For the stories

Dea Ou

PeeWee
CUM Colaler aes



politics is an extremely expensive
undertaking — not only in monetary,
but also for many, in career terms as
well. Further, it is a known fact that
many individuals suffer significant eco-
nomic losses by offering...then serv-
ing.

The way political campaigns are
conducted has changed profoundly in
the last 20 years. In the old days a
candidate got posters from his party,
financed t-shirts for his campaign vol-
unteers and hit the streets, going door-
to-door. On every walkabout tHe can-
didate had a couple hundred dollars in
small change for those asking for
handouts. At the national level, the
party organised rallies and saw to the
logistics of taking its broader message
from constituency to constituency.

Today, it is a whole new ball game.
I am told that a major political party
requires about $3-4 million to mount
a ‘respectable’ national campaign.
There has been speculation about

olitical parties spending as much as
$10 million on political campaigns. At
the candidate level, I am told that you
could be looking at at least $100,000,
on average, for a local candidate. In
the case of a Nassau-based candidate
in a Family Island district, you can
add another 50 per-cent or more — for
a bare bones campaign.

I do not know what the real num-
bers are, but any intelligent person
who does a cursory calculation of pub-
lic expenditures can conclude that very
large sums are involved.

_Why is the cost so high?

Getting elected today requires the
services of many persons. All the
major parties today hire foreign polit-
ical strategists, but at what costs?

In recent times there have been
American, British and CARICOM
nationals providing strategy, writing
speeches and coordinating compre-
hensive media programmes. After the
strategists, you have the songwriters
and jingle producers; the purchase of

Financial |
Focus

By Larry Gibson -




radio and TV airtime; the publication
of manifestos, pamphlets and
brochures; the production of clothing
lines (in the old days it was a couple of
t-shirts); and, finally, salaries for full-
time staffs. If one were to do a proper
costing of what candidates spend (par-
ty contributions, personal funds, dona-
tions, political contributions, volun-
teer time and fundraising) to get elect-
ed, the results would be mind-bog-
gling.

Are we getting the best

candidates in the mix?

There is no objective way to deter-
mine what is, or who is, a good candi-
date. However, past experience,
involvement and success may be a
starting point. There are many per-
sons who ‘prima facie’, would appear
to make a good candidate...who
choose to shun away from frontline
politics. For instance, during the first

term of the FNM and the current term ©

of the PLP, we had Ministers of State
for Finance. A fair question would
be: why?

Many very competent, technical
professionals are unable or do not
wish to run for political office for per-
sonal reasons, or have concluded that
they do not need the frustrations of
elected office.

Under our system, you can have a
maximum of three cabinet ministers
who are not elected parliamentarians.
Our current senator-ministers are: Dr
Marcus Bethel, James Smith and Dr
Bernard Nottage. All are highly
accomplished professionals in their
respective fields. Therefore, the Sen-

ate, as presently structured, gives a
Prime Minister the opportunity to
strengthen his Cabinet, if needed.

Low voter registration
Recently, I noticed that the Parlia-
mentary Registration Department

(PRD) has significantly stepped up”

their registration drive with media
advertising. For the 2002 elections,
there were some 144,000 registered
voters. For the 2007 elections, offi-
cials were predicting about 170,000
registered voters. Today, about
110,000 persons have registered to
vote. ;

If we assume that there is a maxi-
mum of three months before registra-
tion closes, this means that the PRD
could possibly have to register 20,000
per month or 1,000 persons per work-
ing day.

The bigger question for considera-
tion is: what are these low registra-
tion numbers telling us? I always ask
myself and my colleagues this ques-
tion, as I believe it could give an
insight into the outcome of the coming
general election.

Last week marked the 40th anniver-
sary of majority rule in the Bahamas.
What is interesting to note is, that if
you can personally remember that
occasion, you are probably, at least,
aged somewhere between 45-50 years
old. If you were a participant in the
movement against an unfair and
oppressive system, you are more than
likely aged somewhere between 65-
80 years.

I note these facts simply to suggest
that the current generation of voters is
far less passionate about politics than
our forefathers. The Reverend Gilbert
A. Thompson, in a sermon on the
morning of January 10, 2007, high-
lighted the need for the story of the
struggle of Majority Rule to be taught
not as a PLP story, note as a UBP
story, not as an FNM story, but as a
Bahamian story.

At best, we can say one of the major

n

een:

political parties is slightly left of centre

and the other is slightly right of centre
in terms of fundamental political phi-
losophy. The reality is that there is
very little ideological difference
between the two parties. This situation
is not unique to the Bahamas, as
American voters are splitting hairs to
find major differences between
Democrats and Republicans, while
the British believe that ‘New Labour’
and the Conservatives are fraternal
twins. Going forward, maybe we will
find more and more persons having
less and less interest in politics.

Conclusion

There is nothing Bahamians like
better than general elections. Once
the actual date is announced, the
whole country will be totally absorbed
by the various campaigns.

Bahamian political rallies are truly
unique affairs, as they have histori-
cally provided entertaining political
speeches, good food, excellent
Bahamian entertainment and an
opportunity to catch up with old
friends — all within a relatively safe
environment and topped off by a first-
class fireworks display. Let the cam-
paign begin.

Until next week...

NB: Larry R. Gibson, a Chartered
Financial Analyst, is vice-president -
pensions, Colonial Pensions Services
(Bahamas), a wholly-owned subsidiary
of Colonial Group International,
which owns Atlantic Medical Insur-
ance and is a major shareholder of
Security & General Insurance Com-
pany in the Bahamas. |

The views expressed are those of
the author and do not necessarily rep-
resent those of Colonial Group Inter-
national or any of its subsidiary
and/or affiliated companies, Please
direct\any questions or comments to
rlgibson@atlantichouse.com.bs

See eas Sees

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4 i


BUSINESS







KOJI SASAHARA/AP

MONDAY FIGURE: Nikkei 225
index in Tokyo is shown.

World —
markets
close
higher

BY TOBY ANDERSON
Associated Press

World stock markets closed

higher Monday, with European

indexes buoyed by merger and |

acquisition activity, while U.S.
markets were closed for the
Martin Luther King Jr. Day holi-
day.

Sentiment was also sup-
ported by the gain in U.S. mar-
kets Friday, when the Dow
Jones industrial average marked
its 24th record close since the
start of October. oe

Most Asian markets gained
ground, with Hong Kong’s
benchmark index returning
above the 20,000 level, boosted
by broad gains in the Japanese
and Chinese bourses. The Hang
Seng Index surged 2.3 percent
to close at 20,068.56, while
Tokyo’s Nikkei 225 index

advanced 0.90 percent to close __

at 17,209.92.

. Britain’s FTSE 100 Index rose
0.4 percent to 6,263.50, while
Germany’s DAX Index gained
0.4 percent to 6,731.74 and
France’s CAC 40 gained 0.2 per-
cent to'5,630 5 ees

Deutsche Boerse was up 5.3
percent to close at $202.59
because of strong figures from
its Clearstream business.





In Hong Kong, analysts

expect strong selling pressure |
near current levels ‘in the
benchmark index this week
ahead of expected strong eco-

nomic data in the U.S., and an —

anticipated interest rate hike in
Japan.

Property and China-related
shares outperformed the mar-

ket’s rally, boosted. by the

strength in regional bourses.

Japanese shares rose for a

second day on upbeat machin-
"ery orders and Wall Street’s
continuing rally while Chinese
shares posted its biggest one-
day advance in a year and a half.

Japanese machine orders —
widely regarded as a leading .

indicator of corporate capital

investment — surged 3.8 per-

cent in November from Octo-

bers ae

- Machinery maker Okuma

rose 3.01 percent to $11.12.
Japan Airlines jumped 5.11

percent to $2.06 on reports that —

it will secure new funding for
restructuring efforts.

Oil prices were up Monday,
as traders weighed possibilities
that OPEC may hold an emer-
gency meeting as early as this
week to try to reverse the 13
percent plunge in oil prices this
year.

Still, with the market drifting
up and down during the course
of the day, prices appeared
ready to lose more ground in
the absence of quick action by
the Organization of Petroleum
Exporting Countries, _

But at OPEC headquarters in

Vienna, an official who asked
not to be identified because she
was not authorized to comment .
said such a meeting was
unlikely — at least for this
week. Light, sweet crude for
February delivery was up 17
cents at $53.17 a barrel in elec-
tronic trading on the New York
Mercantile Exchange by after-
noon in Europe. The Brent
crude contract for February
delivery also was up — by 31
cents — at $53.26 a barrel on the
ICE Futures exchange.



AEROSPACE



TUESDAY, JANUARY 16, 2007

77 EEC EBRD TSE UE ISLES AO REIL ENRON

3B

Smiths sells aerospace unit to GE

li General Electric said Monday’s
$4.8B purchase would broaden
its aerospace portfolio. GE and
Smiths also have a joint venture
planned, Smiths GE Detection.

Associated Press

LONDON — General Electric, the
world’s largest aircraft engine maker,
agreed Monday to buy the aerospace
business of Smiths Group, Britain’s
third-largest aerospace company, for
$4.8 billion in cash.

Smiths will return $2.1 billion to
shareholders, the London-based com-

The Los Gatos-based company
plans to unveil the new “Watch
Now” feature today, but only a
small number of its more than 6
million subscribers will be get
| immediate access to the service,
| which is being offered at no addi-
tional charge.

Netflix expects to introduce the
instant viewing system to about
250,000 more subscribers each
week through June to ensure its
computers can cope with the
increased demand.

After accepting a computer
applet that takes less than a minute



AIRLINES



pany said in a statement. GE and
Smiths also announced plans for a
joint venture called Smiths GE Detec-
tion, —

The market reacted enthusiasti-
cally, pushing Smiths shares up more
than 15 percent to $22.24 on the Lon-
don Stock Exchange. The company
has been under shareholder pressure
to break itself up, but has resisted.

Fairfield, Conn.-based GE said the
purchases would broaden its aero-
space portfolio by adding Smiths’
flight management systems, electrical
power management, mechanical

TECHNOLOGY

Se

BY MICHAEL LIEDTKE
Associated Press

LOS GATOS, Calif. — Netflix will start showing movies and TV
episodes over the Internet this week, providing its subscribers with more
instant gratification as the DVD-by-mail service prepares for a looming
technology shift threatening its survival.

to install, subscribers will be able to
watch anywhere from six hours to
48 hours of material per month on
an Internet streaming service that
is supposed to prevent piracy.

The allotted viewing time will be
tied to how much customers
already pay for their DVD rentals.
Under Nettflix’s most popular $17.99
monthly package, subscribers will
receive 18 hours of Internet viewing
time.

The company has budgeted
about $40 million this year to
expand its data centers and cover
the licensing fees for the roughly

Service at the forefront

Midwest is being targeted for a
hostile takeover, which many of
its shareholders fear will take
away many of the serive perks
the airline provides.

BY EMILY FREDRIX
Associated Press

MILWAUKEE — Known for wide
leather seats, freshly baked cookies
and attention to detail, regional car-
rier Midwest Airlines has largely
flown under the national radar as it
quietly gained a following in its
namesake region.

The underdog airline now finds
itself under siege — the target of a
hostile takeover that many of its loyal’
passengers and shareholders fear will
end the perks and transform the air-
line from one that boasts, “The Best
Care in the Air,” to just another air-
line.

“On other airlines, most business
models are to pack them in,” said Art

of battle over Midwest

Suarez, a Milwaukee area resident
who is leading a grass-roots effort to
fend off the merger. “We feel like
objects and Midwest makes us feel
like people.”

.What started as an airline for
executives of consumer products
giant Kimberly-Clark almost 40 years
ago has grown into a company that
serves 48 cities on 345 flights a day.

Besides earning accolades for its
service, especially its two-by-two
seating, Midwest has attracted the
interest of rival low-cost carrier Air-
Tran Airways.

AirTran announced in mid-De-
cember that Midwest Air Group, par-
ent company to Midwest, rejected its
takeover bid worth about $290 mil-
lion. Milwaukee-based Midwest
rejected the offer in early December
without making a peep.

AirTran has continued to make its

° TURN TO MIDWEST



method for piping movies into

actuation systems and airborne plat-
form computing systems.

“GE Aviation is growing about 10
percent a year and this acquisition
gives us a technology growth plat-
form that will be accretive to our net
income and will deliver immediate
and future value for our investors,”
GE Chairman and Chief Executive
Jeff Immelt said in the statement.

Smiths Aerospace has more than
11,000 employees and posted revenue
of $2.4 billion in 2006. It has been
working on projects like Boeing’s 787
aircraft, the Airbus A380 as well as

aneenony
j
|
i



NOAH BERGER/AP

TRYING IT OUT: Netflix founder and CEO Reed Hastings demonstrates the ‘Watch Now’ feature on
his company’s website in Los Gatos, Calif. The firm is planning to unveil the new feature today.

1,000 movies and T'’V shows. that
will be initially available for online”
delivery.

Netflix’s DVD library, by com-
parison, spans more than 70,000
titles, one of the main reasons why
the mail is expected to remain the
preferred delivery option for most
subscribers.

Another major drawback: the
instant viewing system only works
on personal computers and laptops
equipped with a high-speed Inter-
net connection and Microsoft
Corp.’s Windows operating system.
That means the movies can’t be
watched on cell phones, TVs or
video iPods, let alone computers
that run on Apple Inc.’s operating
system.

Despite its limitations, the
online delivery system represents a
significant step for Netflix as it tries
to avoid obsolescence after the
Internet becomes the preferred

homes.

°TURN TO NETFLIX.

the Joint Strike Fighter military pro-
ject.
Smiths will call an extraordinary
shareholders meeting during the sec-
ond quarter to approve the sale,
which is also subject to regulatory
approval.

Speaking on a conference call with
reporters, Immelt said the acquisition
complemented GE’s existing business
instead of being a consolidation, and
he looked forward to “a constructive
process” with EU antitrust regula-

° TURN TO GE

INTERNET

Swedish
ad firm

@ With the addition of
TradeDoubler, AOL aims to

strengthen its position in
Europe’s online market.

BY PAUL TOBIN
Bloomberg News

AOL, Time Warner’s Internet unit,
agreed to buy TradeDoubler, a Swed-
ish Internet advertising company, for
$900 million to expand in Europe.

- AOL offered 215 Swedish kronor
per share, or 8.6 percent more than
TradeDoubler’s closing price on Jan.
12, AOL said Monday in a statement.
TradeDoubler’s board unanimously
recommends the offer and sharehold-
ers owning about 20 percent of the

' company have agreed to ‘accept it,

INSTANT VIEWING |

COMING TO A COMPUTER NEAR YOU: NETFLIX
DELIVERED ON THE INTERNET

AOL said. With the addition of Stock-
holm-based TradeDoubler, AOL aims
to strengthen its position in Europe’s
online market and add to the range of
services provided by its Advertis-
ing.com division. AOL acquired
Advertising.com in 2004.

“This is a complementary pur-
chase, and I would imagine that they
would probably merge those assets
into a single, pan-European ad net-
work,” said Greg Sterling, an analyst
at Sterling Market Intelligence in
Oakland, Calif. “The question is what
sort of premium they need to pay
beyond what they’ve offered.”

TradeDoubley shares rose above
AOL’s offer, jumping 15 percent to
227 kronor in Stockholm. Before
Monday, the shares had advanced 48
percent in the past six months.

Mats Bergstroem, an analyst at
Nordea in Stockholm, said that while
the bid is lower than his share-price
estimate of 230 kronor for Trade-
Doubler shares, he doesn’t foresee
another player making a counteroffer
at this stage.

_ The purchase highlights AOL’s
shift to free websites and e- mail ser-
vices that are supported by advertis-
ing instead of Internet access. The
company in September sold its Ger-
man and French Internet-access busi-
nesses,



es

MORRY GASH/AP

HIGHLY SOUGHT AFTER: Midwest has attracted the interest of rival
low-cost carrier AirTran Airways. Above, workers preparea
Midwest plane at Gen. Mitchell International Airport in Milwaukee.


4B| TUESDAY, JANUARY 16, 2007___ INTERNATIONAL EDITION __

BUSINESS BRIEFS

e@ TRADE TALKS



AHN YOUNG-JOON/AP

EAR FTA MEETING SITE: Students hold candles during a
rally against a South Korea-U.S. free-trade agreement
Monday in Seoul, South Korea.

US., South Korea vow
major free-trade effort

From Herald Wire Services

SEOUL, South Korea — South Korea and the United States
vowed a major push this week in free trade talks that have so
far yielded little progress and face a fast-approaching dead-
line.

The two sides started their sixth round of negotiations
Monday after five previous efforts since June left them far
apart on issues ranging from antidumping provisions to trade
in automobiles and pharmaceuticals.

“In this round of negotiations both parties will exercise
flexibility and, as a result, I believe that we'll be able to
resolve many of the remaining issues,” Ambassador Kim
Jong-hoon, South Korea’s chief negotiator, told reporters.

A successful deal would slash tariffs and other barriers on
a wide range of goods and services from the two nations,
which already do $72 billion worth of business a year.

South Korea, the world’s 10th-largest economy, is the
United States’ seventh-biggest trading partner.

o MEATPACKER e@ COMPENSATION

SMITHFIELD WORKERS EXEC PAY RETURNS
PROTEST FOR HOLIDAY TO CROSSHAIRS
A few hundred employ- Bolstered by new federal
ees at amassive Smithfield disclosure rules and a slate
_ Foods (SFD) hog slaugh- of news about outsized pay

packages, lawmakers and
fed-up investors are coming
out swinging ahead of this
year’s corporate proxy sea-

terhouse missed work Mon-
day after a union called for a
walkout to protest the com-
pany’s decision to not make

Martin Luther King Jr. Day a son and promising to press

paid holiday. companies harder than ever
But it was difficult to tell about spiraling levels of

if the workers didn’t come CEO pay.

to work because of the Packages like the $210

million given to former
Home Depot Inc. CEO Bob
Nardelli have helped to reig-
nite outrage in Washington
and among investors’ advo-
cates over huge executive
pay, and the combination of
likely legislative proposals
in Congress and shareholder
initiatives at upcoming
annual meetings may force
companies to rethink the
way they pay top executives.
New House Financial
Services Committee Chair-
man Barney Frank, a Massa-
chusetts Democrat, is plan-
ning hearings on CEO pay
this year, and wants to give
shareholders more of a say
in approving compensation.
Last year, he introduced a
bill that would’ve given
shareholders a vote about
pay and “golden parachute”
packages for CEOs.

union or because of other
reasons, Smithfield spokes-
man Dennis Pittman said.

On atypical day, about
100 to 150 people miss a
shift, and on Monday there
were as many as 150 addi-
tional employees absent,
Pittman said. He said he
couldn't tell why the work-
ers didn’t come but that the
plant — which has two daily
shifts of 2,500 people — con-
tinued operations.

The United Food and
Commercial Workers Union
estimated that 400 people
among the 2,500 scheduled
to work Monday morning
walked out or did not come
to work. The union has been
running an organizing cam-
paign at the plant and
already lost one election.

e BEVERAGES

COKE TRADE SECRETS
TRIAL SET TO BEGIN e BANKING
REPORT: CITIGROUP TO

REBRAND ITSELF

Executives at financial
giant Citigroup (C) are pre-
paring to rebrand the com-
pany with a shorter name —
“Citi” — and a new logo
without the signature red
umbrella, according toa

Prosecutors say a former
Coca-Cola (KO) secretary
took confidential documents
from the beverage giant and
samples of products that had
not been launched with the
aim of selling them to rival
Pepsi. Her lawyer says she
was duped by two ex-cons

and did not commit a crime. published report.
A jury will be asked to The new name and look
determine who is telling the will be presented to Citi-

group’s board this week fol-
lowing a 14-month review of
the bank’s brand, The New
York Times reported Mon-
day. The plan still could
undergo changes before a
rollout that could begin as
early as next month, the
report said.

“We continue to work on
our branding effort and will
announce our decisions
when it is completed,”
spokeswoman, Leah John-
son, said.

The new design is similar
to the “citi” logo with an arc
that now appears on much
of Citigroup’s consumer
advertising and credit cards.

_ truth. The process of select-
ing that jury starts Tuesday
in Joya Williams’ trial.

Williams, who was fired
as an administrative assis-
tant to The Coca-Cola Co.’s
global brand director after
the alleged scheme came to
light last summer, faces up
to 10 years in prison if con-
victed of conspiracy.

Williams, Edmund Duha-
ney and Ibrahim Dimson
were indicted on the single
federal charge, accused of
stealing new product sam-
ples and confidential docu-
ments from Coca-Cola and
trying to sell them to

PepsiCo.





}
i



}

|

\

{



BRITAIN

w

_MiamiHerald.com | THE MIAMI HERALD

British Airways cabin crew
votes in favor of a strike

LONDON — (AP) — Thou-
sands of British Airways
employees have voted, to
strike following disputes cen-
tering on sick pay and pen-
sions, union officials said
Monday.

In one of the largest majori-
ties seen in such a dispute,
some 96 percent of cabin
crews voting on the action
opted for a strike, the Trans-
port and General Workers
Union said. No strike deadline
was set. Cabin crew workers
had claimed the airline pres-
sured them to come to work

AIRLINES




Cabin crew workers had claimed the airline
pressured them to come to work even if they

felt sick, the union said.

even if they felt sick, the union
said. A separate dispute
focused on pension plans.
“BA cabin crew have voted
to say the airline has gone too
far,” said Jack Dromey, the
union’s deputy-general secre-
tary. “BA must rebuild the
trust of its cabin crew by nego-
tiating rather than imposing
change and by listening to its

staff rather than riding rough-
shod over their concerns.”

British Airways officials
issued a statement to decry
what they described as an
unnecessary strike.

“We have not been seeking
to achieve new ways of work-
ing by imposition, but by
negotiation as in many other
areas of our business,” the air-

MORRY GASH/AP

SWEETENED DEAL: A Midwest plane taxis past an AirTran plane at Gen. Mitchell
International Airport in Milwaukee. AirTran recently sweetened its offer to
$345 million in cash and stock for rival Midwest Air.

Service at forefront of
battle over Midwest

* MIDWEST

case by taking out full-page
advertisements in Midwest’s
hometown paper, courting
local officials and appealing
to passengers and sharehold-
ers to urge the board to recon-
sider. On Thursday, it raised
its bid to $345 million in cash
and stock. Midwest said its
board will evaluate the offer
and make a recommendation
to shareholders within 10
days.
‘Extending an olive branch
to wary shareholders, Air-
Tran has said it would take a
hard look at Midwest and
could even learn from it about
customer service, said Tad
Hutcheson, vice president of
marketing for the Orlando-
based airline
For example, should the
merger go through, AirTran
would bake cookies on all its
flights, Hutcheson said.
“That’s a distinctive hall-
mark of Midwest service and
° we have to keep it,” he said.
Consolidations seem to be
the way of the airline industry
right now. United and Conti-
nental are holding prelimi-

TECHNOLOGY

Netflix now delivered on the

* NETFLIX

“This is a big moment for
us,” Netflix Chief Executive
Reed Hastings. “I have always
envisioned us heading in this
direction. In fact, I imagined
we already would be there by
now.”

Besides preparing Netflix
for the future, the instant
viewing system also gives the
company a potential weapon
in its battle with Blockbuster.
As part of an aggressive mar-
keting campaign, Blockbuster
has been giving its online sub-

scribers the option of bypass-.

ing the mail and returning
DVDs to a store so they can
obtain another movie more
quickly.

Since its 1999 debut, Net-
flix has revolutionized movie-
watching habits by melding
the convenience of the Web
and mail delivery with a flat-
fee system that appealed to

nary discussions of a merger
and US Airways has made a
hostile bid for bankrupt rival
Delta Air Lines.

AirTran argues that the
merger makes sense and
pushed its offer in ads in the
Milwaukee Journal-Sentinel.
AirTran Airways has its hub
in Atlanta, which would com-
plement Midwest’s hub in
Milwaukee, AirTran Chair-
man and Chief Executive Joe
Leonard has said. Also, the
airlines’ respective fleets
make heavy use of Boeing
717s, so the merger could be
seamless.

Midwest says the attention
is flattering, but no thanks.
The company also hired
Goldman, Sachs & Co. as a
financial adviser after the
takeover rejection to look at
its own business plan and
respond to anything that may
happen, spokeswoman Carol
Skornicka said.

“For our entire history,
we’ve had to overcome the
skeptics who said we were
too small or our business
model couldn’t work, and
we've always emerged as the
exception that succeeded,”

consumers weary of paying
the penalties imposed by
Blockbuster for late returns to
its stores. After first brushing
off Netflix as a nettlesome
novelty, Blockbuster has
spent the past few years
expanding a similar online
rental service that provoked a
legal spat over alleged patent
infringement.

Netflix has been able to
maintain its leadership so far.

In the last three years, Net-
flix has signed up nearly 5 mil-
lion more subscribers to
become increasingly profit-
able. Although Netflix won't
report its 2006 earnings until
later this month, analysts
believe the company made
about $44 million last year, up
from $6.5 million in 2003.

Despite the company’s
growth, Netflix’s stock price
has dropped by more than 40
percent over the past three
years, shriveling to $22.71 at

Midwest CEO Tim Hoeksema
wrote in a full-page ad of his
own in the paper.

Midwest first started as a

service for executives of Kim-
berly-Clark in 1969 out of
Appleton, Wis. Ten years
later, Midwest Express was
born and the company started
serving commercial passen-
gers. A few years later, it
moved to Milwaukee, going
public in 1995. Today it serves
48 cities, including large ones
like Los Angeles and Wash-
ington, D.C., and smaller ones
like Garden City, Kan., and
Flint, Mich. ° .
Midwest developed a fol-
lowing for its service, which
most likely resulted from its
founding as an executive air-
line, said Darryl Jenkins, an
independent airline consul-
tant in Marshall, Va. People
nowadays pay attention when
they get perks in the air, since
there are so few, he said.

“In the last six years, even
the airlines that call them-
selves full service scaled back
to the bones, so any time you
have any service at all it
stands out for people,” Jen-
kins said.

the end of last week.

The erosion largely
reflects investor misgivings
about Netflix’s long-term
prospects.

‘Once it becomes more
practical to buy and rent
movies within a few minutes
on high-speed Internet con-
nections, few consumers pre-
sumably will want to wait a
day or two to receive a DVD
in the mail. If that happens,
Netflix could go the way of
the horse and buggy.

Online movie delivery
already is available through
services like CinemaNow,
MovieFlix, Movielink, Vongo
and Amazon.com’s recently
launched Unbox. Apple also is
emerging as major player,
with hundreds of movies and
TV shows on sale at its
iTunes store and a new device
that promises to transport
media from a computer to a
TV screen.

line’s statement said. “The
leaders of the [union’s] cabin
crew branch have created a
worrying time for our custom-
ers and our staff.”

Further talks are set for
later this week, both sides said.

A strike affecting Britain’s
biggest airline could cause dis-
ruptions at airports, which
were rocked last year by hun-
dreds of canceled flights after
authorities uncovered a plot to
bomb trans-Atlantic jet planes.
Revelation of the plot led to
enhanced security measures
that led to widespread delays.

$

AEROSPACE

Smiths —
sells
aerospace
unit to GE

°GE

tors.

The European Union
blocked GE’s attempt to take
over Honeywell in 2001,
although the deal had been
approved by U.S. regulators.

Smiths Chief Executive
Keith Butler-Wheelhouse said
the decision to sell the aero-
space arm was made last
autumn. “The structure of the
aerospace industry is chang-
ing — in particular its
increased capital require-
ments and the growing impor-
tance of supplier scale, espe-
cially as the next generation
of large programs kicks in.”

Butler-Wheelhouse said he

approached GE about buying -
its Homeland Protection unit

during the aerospace negotia-
tions, but was turned down.

The new Smiths GE Detec-
tion joint venture will com-
bine Smiths’ Detection opera-
tions with GE Homeland
Protection. Smiths will own
64 percent and GE will have
36 percent, with the partners
committed to holding those
stakes for at least five years.

“Our combination of tech-
nologies will result in devel-
opment of more effective
products and services to help
make the world a safer place,”
Butler-Wheelhouse said.

The joint venture will have
pro-forma annual revenue of
about $1.2 billion.

Fortis Securities in London
commented that the aero-
space deal “comes close to a
complete break-up” of
Smiths. “The aerospace divi-
sion is extremely well-placed,
having major contracts with
Boeing, Lockheed Martin and
others, but lacks scale for
long-term independence,”
Fortis commented.

Butler-Wheelhouse said
there are currently no talks to
sell off the remaining Smiths
units, but said “we reconsider
these things continuously.”

Internet

But none of those online
services have caught on like
Netflix’s mail-delivery: sys-
tem, partly because movie
and TV studios generally
release their best material on
DVDs first. The studios have
had little incentive to change
their ways because DVDs still
generate about $16 billion of
highly profitable sales.

Like already existing
online delivery services, Net-
flix’s “Watch Now” option
offers a lot of “B” movies such
as Kickboxer’s Tears. But the
mix also includes critically
acclaimed selections like Net-
work, Amadeus, Chinatown
and The Bridge On the River
Kwai.

The studios contributing to
Netflix’s new service include
NBC Universal, Sony Pic-
tures, MGM, 20th Century
Fox, Paramount Pictures,
Warner Brothers, Lion’s Gate
and New Line Cinema.

ON OW wt oe

ee

oe

Lee a OR at

Lhe ee ma


THE TRIBUNE







l By CARA BRENNEN-BETHEL

Tribune Business Reporter

A BAHAMIAN has turned his love
of travel into a lucrative part-time
career by becoming a Global Travel
International (GTI) independent tray-
el agent.

Ryan Knowles, who works as an

administrative assistant during the
week, earns additonal income.as a trav-
el agent.
.~ Mr Knowles, and more than 35,000
_ GTI agents, earn money by referring
people to the company and booking
their travel.

Mr Knowles said “the innovative con-

cept” in selling travel is rapidly chang-








Be



ay

(SHI





“AN
RLEY &



ing the travel industry by allowing
’ agents to sell travel at a lower cost.
“With tens of thousands of indepen-



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BUSINESS

dent travel agents, GTI sells over $100
million in travel per year,” he added.

Mr Knowles told The Tribune he
learnt of the GTI opportunity on the
Internet, and said that as far as he is
aware he is currently the only Bahami-
an doing this.

He described it as an extremely lucra-
tive career, with earnings dependent
only on the amount of time and effort

‘one puts into the business.

“This is one of the better opportun-
ties for making money,” he said.

Mr Knowles explained that becoming
a meniber of GTI is relatively simple.

He said: “You just have to contact
the company, pay an activation fee for
start-up materials and then pay annunal








membership dues.

“Agents then earn money through
commissions on personal bookings and
also on the bookings of anyone they
bring into the business as a new agent.
In addition, they enjoy upgrades and
discounts of up to 50 per cent off on
their own travel.

“T love being able to sell travel out of
my home and earn commissions.
Through GTI, I can offer wonderful
travel deals to my clients at fanatastic
rates.”

GTI is a privately-owned Matiland,
Florida-based travel company that pro-
vides all the neccessary resources for
anyone to become an independent trav-
el agent.

Royal Holiday

is now seeking Sales representaives to join their
multi-million dollar Sales Team.

Are you goal oriented, energetic, well groomed,
self-motivated, ambitious, —
between 21-35 years of age, love making money

and meeting people?

If this sounds like you, your opportunity is here!

Interested persons should visit
Royal Holiday at the Wyndham Nassau Resort
ground floor opposite Crystal Sweets Restaurant or

Call 242-327-5595/8

TUESDAY, JANUARY 16, 2007, PAGE 5B





your —
business

news

The Tribune wants
to hear from people
who are making
news in their
neighbourhoods.
Perhaps you are
raising funds for a
good cause,
campaigning for’ .
improvements in the
area or have won an
award. If so, call us on
322-1986 and share:
your story.










Betty K. Agencies (Nassau) Ltd.



Yo our valued customers, please be
advised that, until further notice, The
Betty K. Agencies (Nassau) Limited,
office and warehouse will be closed
to the general public on Saturdays. Our
warehouse will be closed from Friday 19th
thru Monday 22nd January 2007 for

renovations.

We apologise for any inconvenience caused
and look forward to serving you in the

future.

We take this opportunity to wish you and
your’s a very happy and prosperous new
year.
6B, TUES




PAGE



@ By Fidelity Capital
Markets _
IT was a pretty active trad-

ing week in the Bahamian

market as almost 70,000 shares
changed hands. Phe market
saw 12 out of its 19 listed
stocks trade, of which five
advanced, two declined and
five remained unchanged.
Volume leader for the week
was Abaco Markets (AML)
with 15,000 shares changing
hands and accounting for 21.6

DAY, JANUARY 16, 2007

per cent of the total shares
traded.

The big advancer for the
week was Benchmark
(Bahamas) (BBL), gaining
$0.04 or 5.26 per cent to end
the week at $0.80. Also
advancing this week was Fam-
Guard Company (FAM), up
$0.16 or 2.76 per cent to close
the week at $5.95.

The FINDEX gained 8.85
points for the week, to close
at 751.30. The jump in the
FINDEX can be attributed to

a $0.30 increase in First-
Caribbean International Bank
(Bahamas) (CIB) share price,
which ended the week at a new
52-week high of $14.45.

COMPANY NEWS

Freeport Concrete Company
(FCC) —

FCC announced this week
that the company had request-
ed and was granted an exten-

SLU ators

MARKET WRAP

sion to file its financial results
for the year ended August 31,
2006.

The extension was requested
as the company is projecting a
loss of $2 million for fiscal
2006, and its auditors had to
undertake further audit proce-
dures, coupled with FCC hav-
ing to provide additional finan-
cial statement disclosure
requirements to its sharehold-
ers.

FCC's share price ended the
week at $0.55.




THE TRIBUNE





Statute Laws of



Customer Service
Engineer

Micronet Ltd...
requires a Customer Service Engineer.

a leading business technology supplier

A minimum of 2 years experience in the implementation

of LAN and WAN networks using Microsoft and CISCO
technologies. working knowledge of Voice technology,
implementation of PBX Systems:

The key areas of experience are as follows:

° Experience in implementing and troubleshooting
LAN and WAN solutions

* Microsoft Server certifications and experience

© Strong TCP/IP knowledge and routing concepts

¢ Experience in the repair of computers, printers and
related peripherals a plus

° Working knowledge of Nortel Meridian, Nortel
Succession or Nortel BCM Systems

Desired Certifications
e CISCO- CCNA Minimum
e MCP, MCSE
° Nortel Installation and maintenance certifications

No telephone calls. Please esis in writing via email
or fax (subject line: CSE) to:

The Manager

Micronet Ltd.

Email: jobsi@micronet.bs
Fax: (242) 328-3043

TOSHIBA.

COPY» FAX€P RINT <





COMMONWEALTH OF THE BAHAMAS 2006
IN THE SUPREME COURT COM. bnk, 00015

Commercial Division

IN THE MATTER OF MOSAIC COMPOSITE
LIMITED now MOSAIC COMPOSITE
LIMITED (U.S.) INC.

(a Minnesota Corporation) (“Mosaic”)
AND

IN THE MATTER OF THE INTERNATIONAL BUSI-
NESS COMPANIES ACT, Chapter 309,
‘he Bahamas, 2000 Edition (“the Act’)

NOTICE IS HEREBY GIVEN that a Petition for
the winding-up of the above-named Company was on the
17th day of March.2006 presented to the said Court by
Olympus Univest Ltd. (in liquidation) co BDO Mann Judd.
Third Floor, Last Street North, Nassau,
Bahamas ,

AND that the said Petition which was directed to be
heard before the Honourable Madame Justice Cheryl Albury
Harrison Building,
I4th day of

)O o'clock in the forenoon is now

Ansbacher Ilouse,

in Court at the Law Courts, the
Street,
December, 2006 at 11:(
directed to be heard on ‘Tuesday, the 23rd day of January,
2007 at 10:30 o'clock in the forenoon before the said Judge
Creditor or contributory of the said Company

Marlborough Nassau on “Thursday,

and any
desirous lo support or oppose the making of an Order on
the said Petition may appear at the time of the hearing in
person or by his Counsel for that purpose; and a copy of the
undersigned to any
Creditor or Contributory of the said Company requiring such
copy on payment of the prescribed charges for the same.

A.D. 2007

Callenders &CO.

One Millars Court,
Nassau, Bahamas
Attorneys for the Petitioner

Any person who intends to appear on the hearing of
on or send by post to. the
in writing of his intention to do so.
The Notice must state the name and address of the person,

address of the firm aud must

} Petition will be furnished by the

| DATED the 12th day of January,
H

! Chambers,

i

} NOTE:

' the said Petition must serve

i above-named, notice

! or, if a firm, the name and

be signed by the person or firm or his or their attorney if
any, and must be served or if posted, must be sent by post
in sufficient time to reach the aboye named not later than

4:00 o’clock in the afternoon of 22nd day of January, 2007

LEB LTTE LE ATE TPE IE PT ET ETAT NE PPE HITE IT



CAT

CAT/OLYMPIAN GENERATORS

Residential and Commercial Back-up

M&E Limited

¢ GEPX33 (27.2 kw)
¢ GEPX65 (60 kw)
¢ GEPX88 (80 kw)
¢ GEPX110 (100 kw)
¢ GEPX150 (132 kw)

Get Prepared for 2007 Hurricane
season with 2006 Prices

Check Our Prices
Before BUYING!!"!

Nassau: 323-5701
E-mail: aosorio@me-Itd.com

Freeport: 352-5981
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In House Financing available



SENIOR SYSTEMS ADMINISTRATOR



Information Technology

A repatable financial institution headquartered in Bermuda, with offices in The
Bahamas, Barbados, the Cayman Islands, Guernsey, Switzerland and the United
Kingdom. Butterfield Bank offers a wide range of services to focal and
international clients.

An exciting opportunity currently exists for a results oriented self starter with a
record of professional achievements to join a dynamic {nformaticn Technology
team. The successful candidate will report directly to the Head of Information
Technology.

. .

Core Responsibilities

* Develop, maintain, support and optimize the organization's network
infrasirueture. server jafrastructare, data communications, asd
telecommuanications systoms.

* Ensure hardware and software is maintained and data is secured through
proper back-ups and stalf training.

® Prepare and maintain technical specifications and related documentation to
secive procedures and prevent system failure. This includes fP Disaster
Recovery / Business Continuity planning.

® Provide management and direction for end-user support function in support of
business operations, inclusive of management of the Help-Desk function.



* Manage and duect software, hardware, network, telecommunications and web
providers to enhance operational efficiencies and ROL based on the bank's

business objectives.
@

Desired Qualifications

® Bachelor's Degree in Coniputing or related discipline fron a well recognized
university.

2 A minimum of five years progressive professional IT experience preferably in
the Financial Services Industry.



= FT based training or qualifications (MCSE, CISSP and CCNA) from
accredited institutions will be advantageous,

* — Proficientin computer systems and network management, LANs, WANs;
telecommunieations, Web-based applications, client-server applications, and
PC-based software applications.

â„¢ Working knowledge of Microsoft Windows Servers, Microsoft Windows XP,
Microsoft SOL Server, Microsoft Office and Microsoft Exchange Server
syslums.

® Strong interpersonal, communication, problem solving, project management
and castomer service skills,

Closing Date: January 26, 2007

Contact

Human Resourees

Butterfield Bank (Bahamas) {inited
P.O. Box No 3242

Nassau, Bahanias

Fas: (242) 393 3772

E-mail: recruitmeat@ butterfieldbank.bs









wavw. butferfieldbank.bs

Me

Butterfield Bank



The Bahamian Stock Market
FINDEX 751.30 YTD 1.24%
BISX CLOSING CHANGE VOLUME YTD PRICE
SYMBOL PRICE CHANGE
AML $0.59 $-0.02 15000 -3.28%
BAB $1.25 $-0.01 9000 0.00%
BBL $0.80 $0.04 1500 5.26%
BOB $8.03 $- 0 0.00%
BPF $11.30 $- 5000 0.00%
BSL $14.60 $- 0 0.00%
BWL $1.75 $- 0 0.00%
CAB $10.00 $- 5600 0.00%
CBL ° $12.64 $0.10 4350 1.04%
CHL $1.90 $- 14290 | 0.00%
CIB $14.45 $0.30 2000 2.12%
CWCB $4.84 $-0.03 O- -0.62%
DHS $2.50 $- 0 0.00%
FAM $5.95 $0.16 2000 2.76%
FCC | $0.55 $- 0 0.00%
FCL $12.55 $- 100 0.00%
FIN. $12.25 $0.23 ~—- 6400 1.91%
ICD $7.20 $- 4250 0.70%
JS}... $8.60 $- 0 0.00%
PRE . $10.00 $- 0 0.00%
DIVIDEND/AGM NOTES:

e CWCO has declared dividends of $0.012 per BDR,
payable on February 7, 2007, to all shareholders of record date
December 31, 2006.

| © Bahamas Superniarkets (BSL) will hold its Annual Gen-
' eral Meeting at 6pm on January 23, 2007, at the British Colo-
nial Hilton Hotel, 1 Bay Street, Nassau, Bahamas.







International Markets

FOREX Rates
Weekly % Change
CAD$ 1.1688 -0.33
GBP 1.9588 1.51
EUR ’ 1.2919 -0.63
Commodities
Weekly % Change
Crude Oil $51.88 -6.67
Gold $627.62 0.23

International Stock Market Indexes:

Weekly % Change
DJIA 12,556.08 1.27
S & P500 1,430.73 1.49
NASDAQ 2,502.82 2.82
Nikkei 17,057.01 -0.20



ETI WUC MUU
the #1 newspaper in circulation,
Mr Ry LT

CONSTRUCTION SUPERINTENDENT

A Bahamian company is seeking to employ an experienced
construction superintendent.

Applicants will be responsible for on site day to day manage-
ment and decision making. monitoring contract progress and the
construction schedule.

Applicants should have a minimum of 10 years experience in
similar construction, strong organizational skills, outstanding
oral and written communication skills, proficient in Microsoft
Office a plus and have the ability to work independently and
manage multiple projects and priorities.

Please send resumes to tamikabowe@ yahoo.com
or fax 322-6514























PROGRESSIVE SERVICE ORIENTED COMPANY
LOOKING FOR A
PARTS &SERVICE COORDINATOR



Extensive background in managing an OEM Heavy
Truck Service / Parts facility a must. Background in
Parts and Service management & coordination required
ona daily basis. Must be able to effectively administer
| all jacits of business. Minimum of 10 years experience |
preferred. Good people skills a must. Must have prior
experience in parts order entry and supervising
employees. Computer skills required on daily basis.
Must be self motivated and work with little or no
supervision.

Competitive Wages



We thank all applicants, however, only candidates to be
interviewed will be contacted.



Please hand deliver resumes and references to:

Bahamas Mack Truck Sales Ltd.
Oakes Field
P.O. Box N44
Nassau, Bahamas
THE TRIBUNE

PEW, Us ews wee



ean a es

Ex-Colina chief’s
al on hold

-appe

AN appeal by former Colina
Insurance Company president
James Campbell against an
Industrial Tribunal ruling was
placed on hold yesterday, after
one Court of Appeal Justice
recused himself from the hear-
ing, with no other judges avail-
able to hear the case.

Attorneys for Mr Campbell
and Colina Holdings, the insur-
ance company’s parent, and
‘the Colina Financial Group
(now called A. F. Holdings)
‘were back in court yesterday
on an appeal regarding the
employment aspects of Mr

Campbell's dismissal, and -

‘removal, from both companies.
‘The appeal related to issues
‘such as vacation pay and
‘bonuses allegedly owed to Mr
Campbell, attorneys for both
parties told The Tribune.

Yet the case was placed on
hold after Appeal Court Jus-
tice Hartman Longley recused
himself from the hearing.

The matter has been put off

‘indefinitely, as there are are
only two appeal justices, Jus-
tice Lorris Ganpatsingh and
Emanuel Osadebay, who can
now hear the matter.

President of the Court of

Appeal, Dame Joan Sawyer,
had already recused herself
previously. This again high-
lights the need for the appoint-

ment of more justices to the.

Court of Appeal.

Thomas Evans’ and
Veronique Evans appeared for
Mr Campbell, while Tara
Archer of Higgs an Johnson
appeared on behalf of the Col-
ina entities.

In a seperate case in Febru-
ary 2006, the Court of Appeal
ordered that Colina Financial
Group (CFG) and its two prin-
cipals, Emanuel Alexiou and
Anthony Ferguson, pay $9 mil-
lion to their former business
partner, James Campbell to
complete the $12.5 million pay-
off negotiated to secure his
removal.

Colina paid Mr Campbell an
initial $3.5 million, and later
alleged that subsequent
events caused the value of his
interest to be less than $12.5
million, leading to a dispute
over the remaining $9 mil-
lion.

That money was eventually

paid, but it was agreed that if

Mr Alexiou, Mr. Ferguson
and Colina succeeded in their

SAINT AUGUSTINE’S
COLLEGE





g@ JAMES CAMPBELL

appeal to the Privy Council,
the $9 million would be
returned by Mr Campbell..
An appeal was brought
before the London Privy
Council during its sitting in the

Auditors question
Freeport Concrete
as ‘going concern’

FROM page 1B

obtained an injunction against
“the Customs Department, pre-
-venting it from levying the
-duties and blocking the clear-
‘ance of Home Centre inven-
‘tory, until the Supreme Court
--decides the case.
* Tt is understood the matter is
*.due to be heard on February
-12, 2007.
Freeport Concrete’s results
are the latest headache for
*,Hannes Babak, its chairman
;’and largest shareholder with a
- -43 per cent stake, who has
already been blocked from act-
. ing as chairman of the Grand

Bahama Port Authority
(GBPA) in the battle between
the Hayward and St George
families.

The figures are likely to be
seized upon by Mr Babak’s
opponents, chiefly the St
George family, as evidence
why he should not continue as
the GBPA and Port Group
Ltd’s chairman.

Freeport Concrete’s share
price has nosedived since it
went public via the 2001 IPO,
and it stands at just $0.55,
slightly above its 52-week low
of $0.50 and well below the
$1.15 high.

‘The company’s net surplus

- total assets over total liabili-
ties - is around $1.87 million,
and currently relies heavily on
a $1.433 million appraisal
excess. This is the difference
between the appraised market
value of its real estate holdings
and the cost of these holdings.

The company’s’ accumulat-
ed losses of about $5.5 million
are now close to wiping out its
$5.774 million contributed sur-

plus.

The situation may lead to
calls for Mr Babak to invest
more capital into Freeport
Concrete, or for the firm to

_ seek a ‘white knight’ investor

to help keep it afloat.



2007 ENTRANCE EXAM

The Entrance Examination for

students wishing to enter Grade
Seven at St. Augustine’s College for

September, 2007 will be given
Friday, January 26th, 2007

Deadline for registration for this
examination is Friday January 19th.

Eligible students may register
at their Primary Schools or at
St. Augustine’s College. Only
Students in Grade Six will be
J allowed to sit the Entrance Exam.

(FILE photo)

Bahamas last December by Mr
Alexiou, Mr Ferguson and
CFG to overturn the ruling by
the Court of Appeal. A judg-
ment on the matter is pending
before the Privy Council.

SECTIONS EDITOR
THE TRIBUNE

is seeking a Main Section Editor to design news
pages and write eye-catching head-lines. Solid
journalistic credentials essential, including a keen
news sense, excellent text-editing ability and an
aptitude for supervising staff. Applications please
to: 3



Managing Editor
The Tribune
P.O.Box N-3207
Nassau, Bahamas

Cititrust (Bahamas) limited, a subsidiary of Citigroup,
a leading financial institution with a presence in over 100 countries
and over 100 million customers worldwide,

is seeking candidates for the position of

~ GLOBAL FEE
BILLING UNIT SPECIALIST

RESPONSIBILITIES

In providing fee billing processing support across several global
locations, the candidate will be specifically responsible for the
general administration of fee invoicing, collection, and associated
recovery management. The successful candidate will also be
responsible for payment of any client related expenses, database
management, maintenance of all fee agreements, as well as
document management including filing and imaging of
correspondence.

KNOWLEDGE/SKILLS REQUIRED

The ideal candidate with a Bachelor’s Degree in Accounting,
Finance or similar discipline, combined with a minimum of three
(3) years of Trust related experience in a global institution.

Additionally, he/she must have strong problem-resolution,
communication, organization and pc skills. The ability to work
in a global capacity with flexible working hours to address time
zone related issues and excellent interpersonal skills are also
necessary. Fluency in Spanish, German or French is also required. .

Interested candidates should forward a copy of their resume to:

Human Resources

Cititrust (Bahamas) Limited

P.O. Box N-1576,

Nassau, Bahamas

Fax: (242) 302-8779 OR

Email: betty.roberts@citigroup.com

Deadline for application is Friday, January 19, 2007.

EMPLOYMENT OPPORTUNITY/PROGRAM COORDINATOR

The Nature Conservancy Bahamas Program is seeking to fill the position of Program Coordinator.
The Program Coordinator coordinates the administrative and operational aspects of a program
or project. S/he contributes to the processes for annual planning and budgeting, submission of
periodic and annual financial and technical reports and monitoring progress over the life of the
program/project. The Coordinator may be responsible for developing operational guidelines to
ensure efficient management of the program and compliance with regulations. S/he coordinates
program/project-related workshops and meetings and documents activities, strategies and lessons
learned as appropriate. The Coordinator assists with the preparation of financial analyses and reports
for Program/Project management and other team members. S/he also assists in the preparation of
proposals for program/project support and serves as an information resource about the Program/
Project in general — helping to develop communications materials, and responding to public inquiries.

’ KNOWLEDGE/SKILLS

Bachelor’s degree and 3-5 years related experience or equivalent combination.

Excellent verbal and written skills.

Proven organizational skills and attention to detail.

Demonstrated experience in MS Office, Word, Excel, Power Point and Data Base Management. Ability
to manipulate, analyze and interpret data.

Understanding of how organizations work and experience with project implementation and design.

EMPLOYMENT OPPORTUNITY/SENIOR POLICY ADVISOR

The Nature Conservancy Bahamas Program is seeking to fill the position of Senior Policy Advisor.
The Senior Policy. advisor develops, coordinates and implements the program strategy to further the
work of the Conservancy and its conservation partners through direct interaction with the Governments
in the Northern Caribbean Program and multi- and bi-lateral agencies that provide conservation
opportunities and/or impact the nations’ conservation programs. S/he identifies conservation policy
and funding opportunities, evaluates the potential for TNC and NGO partner involvement, and develops
and implements strategies to influence policy and public funding for conservation at the national and/or
global levels. The Senior Policy Advisor liaises with counterparts in the Gonservancy’s Mesoamerica
and Caribbean Conservation Region and International Government Relations department to provide
and extract useful lessons and to coordinate on joint policy approaches. S/he also serves as contact
with the external professional community in the policy arena to keep abreast of new developments
and opportunities that may be useful to the Conservancy and its partners and to report on and share
the Conservancy's experiences with others. The Senior Policy Advisor provides expert policy analysis
and contributes directly to the Conservancy's public funding strategies by providing input for proposal
writing, negotiating with bilateral and multilateral agencies and donor cultivation as needed.

KNOWLEDGE/SKILLS

Bachelor's degree in relevant field and 6 or more years of senior relevant experience. Master's
degree may be preferred or required. May require federal agency or congressional staff experience or
equivalent experience for positions with a global focus.

Expert knowledge of current trends in relevant policy discipline.

Demonstrated experience conceiving and implementing strategic initiatives.

Demonstrated excellent project management skills.

Excellent verbal and written communications skills.

Interested persons should apply in writing with full details, including resume and cover letter, to
HYPERLINK “mailto:bahamas@tnc.org” bahamas@tnc.org by January 31, 2007.


THE TRIBUNE

PAGE 8B, TUESDAY, JANUARY 16, 2007

We can boost financial sector’s GDP share by 10% in 10 years’



FROM page 1B

been a major contributor to

MANAGER. BANKING & CUSTODY







BANKING DEPARTMENT

A reputable financial institution headquartered in Bermuda, with offices in The
Bahamas. Barbados, the Cayman Islands, Guernsey, Switzerland and the United
Kingdom, Butterfield Bank offers a wide range of services to local and
international clients.

An exciting opportunity currently exists for a results oriented self starter with a
recard of professional achievements to join our dynamic Banking Services teann.
The successful candidate wil report directly to the Head of Private Banking.

tte

Core Responsibilities

® To manage and control the banking and custody departments of the Bank ina
cohesive, well organized and risk oriented manner.

‘To effectively manage the Relationship Management Team of both banking
and custody so as a first class service is offered to all clients in a proactive
Manner,

B To assist with the development and implementation of new products and
systems as may be required in order to further enhance productivity and
efficiency.

® ‘To work closely with the Assistant Manager of Operational Risk
Management to ensure procedures and processes remain fully in tine with the
group's strategy relating to Enterprise & Operational Risk.

= ‘To ensure, at all times, the banking and custody operations are effectively
managed to ensure processing of all deposit and payments, foreign exchange
and security transactions are carried out technically correct, without error and
within procedures.

= ‘To ensure full aware of all applicable laws, regulations, bank policies and
procedures and that they are implemented effectively on a day to day basis
within the department.

® ‘To assist in the preparation of the banking and custody budgets and for the
effective management of revenues and Costs.

® Desired Qualifications
® Relevant Degree or related discipline froma well recognized university.

= A minimum of ten years progressive Banking/Custody experience in the
Financial Services Industry. i



® A good proven background in professional and experience ‘client facing role’.
® High degree of awareness and compliance orientation

® Proficient in Microsoft Office suite of products.

© Strong interpersonal, communication. problem solving, project management

and customer service skills.

Closing Date:January 26, 2007



Contact

Human Resources

Ratterfield Bank (Bahamas) Limited
P.O, Box N-3242

Nassau; Bahamas

Fax: (242) 393 3772

Email: recruitment@ batterticldbank.bs






www. buiterfieldbank bs

Butterfield Bank



our economy, it could do so
much more if we adopted the
correct approach to these
issues and get our strategic
planning right.

“We could boost its contri-

bution to GDP by 10 per cent
within 10 years, and I think
that its an exciting prospect.”
_ Mr Moree said that even an
increase in the financial ser-
vices industry’s contribution to
GDP of between 10-12 per
cent was not out of the ques-
tion, adding that this was “an
achievable, real objective” if
the Bahamas had the neces-
sary resolve and developed a
consensus on the direction the
industry should take.

The Forum chairman said
the sector had been “sta-
bilised” since the 2000 ‘black-
listing’ by the Financial Action












Nassau, Bahamas.

NOTICE |

NOTICE is hereby given that ESLINE DELVA OF
EAST STREET, NASSAU, BAHAMAS is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight
days from the 16th day of January, 2007 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,

Task Force (FATF) and ini-
tiatives by affiliated bodies,
which resulted in the then-
FNM administration over-
hauling the industry’s regula-
tory regime with 11 pieces of
legislation.

With no “impending crisis”
threatening Bahamian finan-
cial services, Mr Moree said:
“The dust has settled.”

The Bahamas had upgraded
its legislation “in a major way”,
had developed a plethora of
new, tax-compliant products,
and shown a high degree of
professionalism, integrity and
efficiency in the sector’s oper-
ations.

However, while the
Bahamas had lost no major
business to its international
financial services competitors,
Mr Moree acknowledged that

Legal Notice

NOTICE

THE CHANDELIER CO. LTD.

(In Voluntary Liquidation)

Notice is hereby given that in the above-named
Company is in dissolution, which commenced on
the 11th day of January 2007. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau, Bahamas.

(Liquidator),

Innovative Offshore Bank is
presen tly looking fora

back-office

Bank & Trust

administrator

The successful applicant must
m= have several years of private banking background

m be computer literate

We require knowledge and experience with

= Securities
m Corporate Actions

= Foreign exchange transactions
= Payments and transfers

m Accounting
mw Reconciliations



‘Team player with pleasant personality. Must be able to
work independently with minimal supervision.
Series 7 certification is an asset.

We offer

m a salary which is commensurate with the job,

a pension plan and medical insurance

Private Banking
) OYSTER Funds
Alternative Investments

Bis

Pricing Information As Of:

























Abaco Markets

12.05 10.25 Bahamas Property Fund
8.03 6.90 Bank of Bahamas
0.85 0.70. Benchmark
1.80 1.26 Bahamas Waste
1.49 1.10 Fidelity Bank
10.00 9.05 Cable Bahamas
2.20 1.64 Colina Holdings
12.65 9.05 Commonwealth Bank
6.26 4.12 Consolidated Water BDRs
2.88 2.40 Doctor's Hospital
46.21 5.54 Famguard
12.25 10.70 Finco
14.45 10.90 FirstCaribbean
12.55 10.00 Focol
1.15 0.50 Freeport Concrete
10.20 7.15 ICD Utilities

J. S. Johnson



42.25 Bahamas Supermarkets
410.00 Caribbean Crossings (Pref)
20 RND Holdings



28.00 ABDAB .
14.00 Bahamas Supermarkets
Ho










1.322791"
2.9728***
2.500211**
1.217450****
11.3075*****

Colina Money Market Fund

Fidelity Bahamas G & | Fund

Colina MSI Preferred Fund

Colina Bond Fund
ea F \

2.6262

me Fund



Please send your resume and one (1) letter of
SYZ & CO BANK & TRUST am Attention Betsy
P. O. Box N-1089 m Bayside Executive Park m Wi
Nassau - Bahamas m Fax : 327-6629



Daily Vol.

reference to

EPS $

Morris(betsy.morris@syzbank.com)
est Bay Street & Blake Road






cc

“Yield


















HARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for dally volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month earings



MARKET TERMS.



Bid $ - Buying price of Colina and Fidellty
Ask $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - Acompany's reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful

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



by

NAV KEY
* - 5 January 2007
** - 31 December 2006
*** - 31 December 2006

**** 31 December 2006





the industry had not enjoyed
real growth since 2000.

“It cannot be disputed that
there has been no significant
growth in this sector over these
last few years,” Mr Moree said.
“I don’t think we’ve lost busi-
ness. The sector has been hold-
ing its own.

“There have been areas of
modest growth over the past
five years. We’ve held our own
in private wealth management,
but have not done very well in
the funds business.”

To develop and implement
the strategies that could
achieve this growth rate,’ and
convince the Government to
direct resources to this effort,
Mr Moree said the financial
service’s industry’s importance
had to first be marketed to the
Bahamian people.

“We have to convince the
average Bahamian citizen that
he or she has a stake in the
expansion and continued
development of the financial
services industry,” the Forum
chairman explained, “and that
the benefits from a successful
industry are not restricted to
an elite club, but are actually
going to filter down to every

level of our economy where |

we can all benefit.

“It is only when the average
Bahamian truly believes he has
a stake in this industry that it
will be possible for our political
leaders to commit the kind of
resources, and adopt the kind
of policies, I’m advocating
here. There have got to be
benefits that trickle down to







Citizenship, P.O.Box N-

NOTICE

NOTICE is hereby given that MYRLINDA MILFORT OF
MINNIE STREET, NASSAU, BAHAMAS is applying to
‘the Minister responsible for Nationality and Citizenship,
for registration/naturalization
Bahamas, and that any person who knows any reason
why registration/ naturalization should not be granted,
should send a written and signed statement of the facts
within twenty-eight days from the 16th day of January,
2007 to the Minister responsible
7147,



the average Bahamian. They
will see their quality of life
linked to the continued suc-
cess and growth of financial ©
services, as it is with tourism.
We don’t have to be directly
employed in the financial ser-
vices industry itself to benefit
from its success.”

Mr Moree said the percep-
tion held by many Bahamians -
that the financial services
industry benefited only the 4-
5,000 people directly employed
by it, plus related professionals
such as attorneys and accoun-
tants - had to be dispelled if
this nation was to maximise
the industry’s benefits.

The economic ‘trickle down’
effect of spending by these pro-
fessionals, he added, had to be
emphasised.

“It cannot be overlooked
that the financial services sec-
tor pays some of the highest
salaries in the country,” Mr
Moree said. “This not only
benefits people employed in
the sector, but it benefits a host
of ancillary professionals and
jobs.

“These people have more
money to spend in terms of the
services they are accessing.”

Once the Bahamian people
had become better informed
on how the financial services
industry impacted them, Mr
Moree said the Government
and private sector could turn
their attention to “interna-
tional marketing”, positioning
the industry to attract new
business and developing its
‘brand’ identity.



as a citizen of The

for Nationality and
Nassau, Bahamas.




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THE TRIBUNE




19-year-old
faces charge
of unlawful
intercourse

A 19-YEAR-OLD of Cur-
tis, Exuma was arraigned in
magistrate's court yesterday
accused of having unlawful
intercourse with a girl aged
13.

Court dockets state that
Lavado Rolle, between
Thursday, January 11 and
Friday, January 12, had
unlawful intercourse with a
13-year-old.

Rolle, who appeared in
Court Five, Bank Lane, was
not required to plead to the
charge and was granted bail
in the sum of $10,000. The
case was adjourned to April
17.

Reminder
over revised
fisheries
regulations

THE Department of

Marine Resources is remind-
ing the public that several
amendments to the regula-
tions governing sportsfishing
came into force on January 1.

The amendments to Regu-
lation 48 of the Fisheries
Regulations limit the amount
of marine life which can
legally be harvested by for-
eign boaters visiting the
Bahamas.

The regulations now spec-
ify that the maximum ‘migra-
tory fishery rescurce’ catch
is six kingfish, dolphin, tuna
or wahoo per vessel, six craw-
fish, and 20lb of demersal
fishery resources (groupers,
snappers, etc).

They also forbid the tak-
ing of any conch or turtle.

In addition the regulations
forbid the use of more than
six rods or reels on a vessel
without a permit, and the use

Se hae fish traps and nets
other than a landing net.

The rules also apply to
Bahamian vessels “engaged
in fishing for purposes other
than commercial by persons
who are not Bahamians”.

They add: “No vessel shall
have on board any fish unless
its head and tail is intact.”

“The government, in an
effort to ensure the contin?
ued sustainability of local
conch stocks, has decided to
prohibit the harvesting of the
species by foreign boaters,” a
department spokesman
added.






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â„¢@ By BRENT DEAN

THE Bahamas Association
for the Physically Disabled on
Dolphin Drive was robbed over
the weekend — for the fifth time
in six months.

When employees of the cen-
tre returned to work on Mon-
day morning, they found the
front door broken open.

Bandits had entered and
stolen a washing machine, bed
linens and most of the groceries
used to feed the 23 disabled
children who receive care there.

The thieves went as far as
uprooting and stealing eight
plants that were recently laid in
preparation for a new play-
ground being developed next
to the centre.

The repeated robberies have
lead to an atmosphere of fear
for the safety of the children
and the staff, according to Ms
Penn, a caregiver at the centre.

“It is very discouraging
because you are not sure how
safe it is anymore. You don’t
know when somebody could
pop-up and attack again,” she
said.

During previous robberies
computers, fax machines and
wheelchairs were stolen.

According to Linda Smith,
administrator at the centre, the
thieves attempted to gain entry
to the building last Thursday
through a side door. This
attempt, however; was unsuc-

LOCAL NEWS



So

@ SHELVES are left almost empt



SS

y after a burglary at the

Bahamas Association for the Physically Disabled

cessful — as the door was recent-
ly reinforced with a steel frame.

Funding

The centre receives 25 to 30
per cent of its funding from the
government. The additional
funding for the operational bud-
get, which fluctuates between
$85,000 and $100,000, comes

(Photos: Tim Clarke)

from private donations, accord-
ing to.Ms Smith.

In response to the repeated
robberies, the centre is attempt-
ing to add additional security
features.

Ms Smith stated: “Right now, .

we are just engaging the ser-
vices of an alarm company so
that we can secure the building.
Because on previous times, we
did with steel doors and all of



Union takes Baha
Labour Board over

By KRYSTEL ROLLE

AFTER 12 months of “failed
negotiations” the members of
the Bahamas Hotel Managerial
Association are taking their
struggle with Baha Mar to the
Labour Board.

Claiming that the corporation
has breached its contract with
the workers, leader Obie Fer-
guson promised that the union
would intensify efforts to ensure
that the situation is remedied
immediately.

“These workers have not got-
ten an increase since 1996, some
11 years ago,” Mr Ferguson
said, adding that on December
16, without consultation, the
company arbitrarily breached
the contract by paying one
week’s bonus instead of two.

Demonstrating across the
road from the Radisson Hotel
yesterday, under the watchful












- YOUR LOCAL MEMBER OF THE-

PROCHEM SYSTEM (sm)

eyes of several police officers,
the union, which represents
workers at the Radisson and
Wyndham hotels, peacefully
protested against the “mis-
treatment” of its members.
Since 1996, the employees
have been receiving a two-week
Christmas bonus on or before
December 15 each year, as
agreed under,their contract. ,.

Dispute

Mr Ferguson said a new con-
tract that was signed “made no
reference to profitability, as it
was known to all and sundry
that the corporation was not
making a profit, and so it would
have been nonsensical to make
profitability a term of the con-
tract upon which the two weeks
is based for the workers.”

Additionally, the union pres-

ident that since the workers last ,

got a raise, the cost of living has
quadrupled.

Despite attempts to negoti-
ate a better deal with the cor-
poration, Mr Ferguson said,
nothing has changed, and “no
consideration has been given to

contract

these workers.”
After being “provoked”, the
union leader said, the union

decided to take the issue to the.

Labour Board in an effort to
bring the matter to a close.

Continuing his list of con-
cerns, Mr Ferguson said, “We
understand that 150 workers
are scheduled to be laid off
shortly.”

Warning executives that
repercussions would result if
this rumour proves to be true,
he said that any action the
union takes could have “unin-
tended consequences on labour
relations in our country.”

“There could be no true
development without the peo-
ple, so while we welcome
investors to our shores and pro-
vide them with the most pro-
ductive workers in the region
we have a legal and moral
responsibility to protect the
workers of this country from
this kind of behavior and con-
duct displayed by hotel execu-
tives,” he said. ;

The Tribune attempted to
contact the relevant Baha Mar
official, but calls were not
returned up to press time.



TUESDAY, JANUARY 16, 2007, PAGE 3

Disabled centre stripped bare
in fifth burglary in six months












@ THE burglars left several boxes of groceries and household
items outside the association premises — presumably with the
intention of returning for the goods later

that, but to no avail. So, we
have to move further.”

Police press liaison officer
Walter Evans, said that he
would have to make further
inquires before commenting

on the situation.

As a result of the robberies,
the most disadvantaged group
of individuals at the centre are
inhibited from learning and
being cared for, Ms Smith said.

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a



Volleyball’s Jann Mortimer

@ By BRENT STUBBS
Senior Sports Reporter

AFTER a ten-year battle
with lupus, versatile
player/coach Jann Mortimer
died yesterday at Princess
Margaret Hospital, at age 50.

In December, Mortimer
teamed up with her sister, Dr,
Sophia Rolle, to lead the First
Caribbean Bank Diggers to a
play-off appearance in ladies
division of the New Provi-
dence Volleyball Association,

Some of her team-mates
converged around her bedside
to pay their respects to the
woman they described as a
“fighter, mentor, motivator
and loyal friend,”

For Dr. Sophia Rolle, her -

sister “fought a very good fight
for the past ten years with
lupus. She always remained
positive that she would get
beyond the critical stage.

“So I would like to remem-
ber that about her - that she
never felt sorry. about herself,
She always felt that this too
should pass because anytime

she ‘had-a dialysis treatment, -

she got through it with pain,
but not to the point where it
overtook her and she was able
to function 3-4 hours after
that,”

Remembered as the “best
centre and blocker” the
Bahamas and indeed the
Caribbean has ever seen dur-
ing her era from the 1970s to
the 1990s, Mortimer passed
away around 1:50 p.m.

Some of her peers, who
were there from her early
playing days, to youngsters,

_ Who she later groomed as a

coach, showed up at the hos-
pital to show their respect for
Mortimer, who also excelled
at the national and interna-

‘tional level in basketball and

netball.

Cora Hepburn, who played
with and was coached by Mor-
timer, said the she was a “pillar
of strength. I’ve never seen
someone who was so strong
over the past ten years with



defeat the Sharks

@ BASKETBALL
By KELSIE JOHNSON

Junior Sports Reporter

her illness,

“Today is like deja vu for
mie because Jann is my-second
volleyball friend who has died
from lupus. I lost Tangy about
ten years ago and now Jann
has passed, so it’s very rough
for me.” ‘

For veteran setter, Jennifer
Isaacs, who set many passes
that Mortimer put away with
the kill, it was a shocker
because “we just came out of
the volleyball championship
and Jann was there as our
coach, so full of tife.

“When we visited her yes-
terday (Sunday), she was okay.
So when I got a call at COB, it
was really a shock because it
was not what we expected.”

Isaacs said Mortimer will be
remembered as a person who
was “full of life, who loved her
family and her friends”.

“Jann was one of the best

volleyball players this country
has ever seen, one of the best
centers and to me the best
blocker we have ever seen,”

players on the court by substituting,
the team found themselves in trou-
ble midway in the first half.



IT WAS a feast for the HO Nash
Lions junior girls team yesterday, as
‘they took a bite out of the SC

~ McPherson Sharks.

The Lions, who had to play with-
out several key players, pulled off a
come-from-behind victory over the
Sharks, with a final score of 16-12.

The team learned at the start of
the game that two of their starting
players, who also contributed sig-
nificantly to the Lions’ Father Mar-
cian Peters tournament crowning,

were ineligible to play.

With only nine players showing
up to the game and two having to
sit-out, head coach Patricia Johnson
was left with only two substitutes.

The first half adjustment was hard
for the Lions, as the team picked up
two quick personal fouls. Although
Johnson tried to mix up the blend of

their free throws.

outside.

we got the win.



Now over the foul limit, every foul
committed by the Lions placed the
Sharks on the free throw line. But
this would play out in the Lions’
favour, as the Sharks missed out

Faced with foul trouble and down
by three in the first half the Lions
avoided attacking the basket, opt-
ing to take the quick shot from the

Coach Johnson said: “There is so
much more things we have to work
on. I don’t know where to begin,
But I must admit that one good
thing did come out of today’s game,

“The win is a good thing, but I
must be honest, I am not pleased
with the way the girls played. The
rushed every one of their shots, we

SEE page 8E

@ THE HO Nash Lions (in blue) in action against the SC McPherson Sharks.
(Photo: Tim Clarke)

she said. “Jann was always
there.” ie

Veteran power hitter Jackie
Conyers said Mortimer was a
“role model, she was a great
athlete, a friend and she was
one of our heroes. She will def-
initely be missed.

“She was a very affection-
ate, loving person, who truly
loved the sport of volleyball.
She is truly a great person to
remember, She was one of
those persons who taught me
the game, she had a passion
to win and she has instilled
many principles that have
helped me.”

DeVince Smith, who started
coaching under Mortimer
around 1995, remembered her
as a “competitor, so coaching
and watching her was always a
pleasure”.

“She always had that win-
ning spirit and she knew when
her team was in a situation to
rally her players and just dig
them out of the hole. She was
always cheerful and it was a

Li





pleasure watching her execute’

in the middle, Her goal was
just to win,”

Mary ‘Cruise’ Edgecombe,
who follows in Mortimer’s
footsteps as one of the coun-
try’s most versatile players,
said her “mentor” was a
“motivator”.

“Jann has always been a
mentor of mine, especially in
volleyball. She has been a
motivator and I remember her
she tell me things that I was
doing wrong that a lot of
coaches are not doing now,”
she reflected.

“T always loved to see her
play because. she was sojawe-
some up the middle. You
always wanted to be like her
because she was the best. She
was good at it and she always
told me that you have to love
what you do, She encouraged
me to play hard because she
said I always reminded her of
me.”

And Jeannie Minus, another

_ player who was exposed to



Mortimer’s coaching, listed. her
as a “true warridr, who I knew
practically all my life”.

“I remembered when we
were at St Augustine’s College
(in Realign, North Carolina)
and we shared a few moments
there,” Minus said. “Jann real-
ly fought a good fight, but I’m
happy that she’s out of her suf-
fering. But we will remember
her as a true ambassador of
this country.”

Mortimer started playing
sports around 1970 at the AF
Adderley High School and lat-
er Aquinas College. She then
played for St. Augustine’s Col-
lege in North Carolina.

The Tribune Sports Depart-
ment, including sports reporter
Kelsie Johnson and news

reporter Krystal Rolle, extend -

condolences to her family.

She is survived by her moth-
er, Sally, and siblings, including
Drs Bridgette and Sophia, Ida,
Deborah, Pauline and There-
sa, Cornell, Lester Jr, Kelsey
and Kevin.

dies after battle with illness

@ GRIEVING members of
the volleyball fraternity pic-
tured after the death of Jann
Mortimer (pictured below).
From left are Cora Hepburn,
Jean Minus, Jackie Conyers,
Krystel Rolle, Kelsie Johnson,
Jennifer Isaacs, Margaret

Albury, DeVince Smith and’

Dr. Sophia Rolle.
(Photo: Tim Clarke)























TRIBUNE SPORTS

~ PAGE 2E, TUESDAY, JANUARY 16, 2007 |



help to give their
universities the edge

i SWIMMING
By KELSIE JOHNSON
Junior Sports Reporter

NIKITA DEVEAUX and
Alana Dillette were successful
in giving their universities the
edge in their weekend dual
meets, but they are still looking
to qualify for the NCAA Swim-
ming and Diving champi-
onships,

Deveaux competes for the
University of Kentucky while
Dillette represents Auburn
University,

The number three ranked
Auburn Tigers took on Texas
University, which is ranked
number one in men and 12 in
women, over the weekend,

Dillette competed for the -

Tigers’ C team in the 400m
medley relay, the B team in the
200m freestyle relay, and the
wornen’s 100m freestyle,

Her first event was the 400m
medley relay, a team which
includes Abby MacGregor,
Blakeley Bunch, Kara Nelson,
and she clocked 3:50.68 seconds
for fifth place. The winning
team was turned in by the
Tigers’ A squad, with a time of
3:41.42 seconds,

The NCAA national quali-








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fying time was set at 3:38.02
seconds for the A standards
and 3:44.56 seconds for the B
standards,

Dilleite Hnished filth in the
100m freestyle, just missing out
on the event’s B qualifying time
for the NCAA championships.
Her time was recorded at 52,10
seconds, Qualifying times in the
event came from Dillette’s
tcammates Emily Kukors, Kara

“Denby and Texas representa-

tive Connie Brown,
Freestyle

In the 200m freestyle relay,
Dillette’s team would settle for
third place in 1:34.99 seconds,
There were no qualification
times in this event,

The Bahamas’ Olympian
Deveaux had to quickly
regroup in the dual meet
against nationally ranked
Alabama after finding out that
her squad missed out on the B
qualification time in the 200m
medley relay,

Deveaux, who competes for
the University of Kentucky
anchored the college's B squad
toa fourth place finishing ina
time of 1:48.47 seconds,

idai Tucson

She would have to settle for
tifth in the 50m freestyle
recording a final time of 24,68
seconds, The qualifying time
was set at 22,75 seconds for the
A standard and 23.43 seconds
for the B standards.

The day wasn’t over for
Deveaux, who was given just
seconds to recuperate, She
moved from the 50m freestyle
to the 100m freestyle where she
wound up in the fifth spot once
again, This time was recorded
at 53,49 seconds, the winning
time was clocked at 50.68 sec-
onds and performed by Jenny
Bradford of Alabama,

Deveaux’s final event on the
day was the 400m Ireestyle
relay, in which she anchored
the A squad, The team would
finish fourth in 3:31,38 seconds,

This coming weekend
Deveaux will look to break the
bad streak by qualifying for the
NCAA championships, which
are set for March 8th, She could
also use the SEC Swimming
Championships to qualify.
These championships are set
for February 7(h-L0th in Lex-
ington, Kentucky,

This is also the case for Dil-
lette who competes in the SEC

conference.

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@ ANDRETTI BAIN
lowered his own mark as he
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the weekend.

(FILE Photo)







Andretti.

Bain beats |



@ TRACK AND FIELD
By BRENT STUBBS

Senior Sports Reporter __

A YEAR ago, Andretti Bain
shattered Missouri Invitational
indoor men’s 400 metre meet
record that stood for 20 years,
Over the weekend, he lowered
the mark as he three-peated as
champion,

Competing at the 21st ver-
sion of the meet on Friday at
Hearnes Fieldhouse in Colom-
bia, Missouri, Bain was one of

eight Oral Roberts University’s

Golden Eagles athletes to claim
individual titles,

His winning time of 48,20 sec-
onds surpassed his meet record
of 48,48 as he won over his
Golden. Eagles’ team-mate
Johnathan Rivers, who ran
48.64 for second, The original
record was 48,60,

Track

“T didn’t really want to run
the 400 because I told my coach
that the track was so tight,” said
Bain, who had to come from
behind for the victory in the
final 150. ;

“But he told me that I ran
there last year and it would be
right to test myself to see where
I’m at right now, It turned out
well, even though it was real
cold, It was a nice opener for
me,”

Bain also ran the lead off leg
on the Golden Eagles’ victori-
ous 4 x 400 relay team of
Johnathan Rivers, Kevin Cave
and Tavarus Roberts that ran
3:16.16 ahead of Lincoln Uni-
versity and Drake.

The 5-foot-8 sophomore said




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is recor

after taking it easy over the

‘Christmas break, he was

delighted to get his feet wet for
what is anticipated to be anoth-
er hectic season,

“Taking the rest that I did’
over the (Christmas) break and
still coming out and running
faster than I did last year is a
real confidence builder going
into the Arkansas meet next
week,” Bain reflected,

As the indoor season pro-
gresses, Bain is expected to be
kept busy through March. He
will be back in action this week-
end at the Razorback Invita-
tional,

Then, at the end of the

teens es DOUPUTUERP EU EREEP EEDA E TROT PEC EE AP EDIE PECTUDERT EPPO EOE SE TERT ETE



month, he will be competing at
the Adidas Classic, That will be
followed by the JD Martin Invi-
tational on February 3.

Bain said he’s just looking
forward to running faster and
faster as he competes meet after
meet and eventually to qualify
for the NCAA Outdoor Cham-*
pionships at the end of March
before he heads outdoors.

As for the outdoor season,
Bain said the NCAA Champi-
onships is one of his goals. But
the main focus will be qualifying
for the Bahamas team heading
to the IAAF World Outdoor
Championships in Osaka, Japan
in August,

Veereenereeererenetoegsererneereenenereererr yee yr en ee

Bahamian players in
ITF’s Central American
and Caribbean team

m@ TENNIS
By BRENT STUBBS

Senior Sports Reporter a

THE Bahamas Lawn Tennis Association’s junior programme has
another feather in its cap with three players traveling on the Inter-
national Tennis Federation’s Central American and Caribbean

team.

Kerrie Cartwright, along with Grand Bahamians Rodney Carey
and Katolina Klonaris are in Cali, Colombia, competing at the
Copa Indervalle, the first of four tournaments on the junior COSAT

2007 circuit.

They are a part of the team that comprises the ITF Development
Programme that is being financed by the ITF and the Grand Slam

Development Fund.

First vice president Paula Whitfield said the BLTA is quite
pleased with the fact that they have three players represented on the

team,

“I don’t know if any other country has three players on the
team,” Whitfield stressed. “Usually they select one or two players,
but we got three spots this year, So that is significant for our pro-

gramme,”

Both Carey and Cartwright earned computer points on the
junior list, but Klonaris, who attends the Guizar Tennis Academy,

does not have any.

Carey, who is in his second year at Bill Adams Tennis Academy
in Florida, is ranked at 655 in the boys division. Kerrie, a member
of the Guizar Tennis Academy and student of the International
Christian Academy online, is 1058 in the girls,

Anthony Jeremiah from Trinidad & Tobago, Ivan Molina from
Colombia and Rolando Martinez Breijo from Cuba are the coach-

es.

The trio will play in Cali from January 15-21, then they will
head to Guayaquil, Ecuador from January 22-28 for the Guayaquil
Bowl. From there they will go to Lima, Peru for the Tomeo Inter-
national from January 29 to February 4 and they will wrap up the
trip in Cochabamba, Bolivia from February 5-11 where they will
play in the Condor Plata Tournament,

Players who perform well in the regional tournaments will be
invited to join an international touring team, Last year, 20 ITF tour-
ing teams, involving 165 players from 78 different countries, par-

ticipated,
THE TRIBUNE ~

TUESDAY, JANUARY 16, 2007, PAGE 9B



Mii a a i
Exploit tourism,

financial synergies
‘more effectively’

FROM page 1B

Hughes, said that to exploit the
links between the two sectors,
there would have to be “a
much closer relationship
between the Ministry of
Tourism, Ministry of Financial
Services and Investments, and
the Ministry of Finance.
“I really believe you would
have to have some cross-min-
isterial authority, particularly
between these three industries,
to fully exploit these syner-
gies.”

Mr Moree said that the
financial services industry’s
presence in the Bahamas, and
this nation’s established repu-
tation for private wealth man-
agement, especially in bank-
ing, trusts, estate planning and
asset protection, frequently
attracted high net worth clients
to this country.

He added that this “feeds
right into the second home
market”, as high net worth
individuals often purchased
real estate in the Bahamas,
benefiting the real estate sector
and the wider Bahamian econ-
omy. :

In addition, senior business
executives from large multina-
tionals frequently held meet-
ings, conferences and seminars
in the Bahamas, staying at
hotels and spending large sums
of money in the Bahamian
economy.

“In order to serve our core
products, with regard to pri-
vate banking and wealth man-

Royal Island (Bahamas) Limited

agement, clearly we need to be
able to find synergies between
tourism and financial services,
and there are many,” Mr
Moree said.

“I think there are very real
synergies between the two
industries, and I think we could
exploit them much more effec-
tively.” .

Apart from second homes
and the other benefits to
tourism, financial services can
also attract high net worth indi-
viduals - billionaires and mil-
lionaires - to domicile them-
selves in the Bahamas perma-
nently, becoming permanent
residents.

This paves the way for them
to establish family offices in
the Bahamas, employing a
wide range of Bahamian pro-
fessionals to manage their
assets and itineraries, which in
turn boosts a variety of other
domestic industries.

In addition to following their
assets to the Bahamas, these
high net worth individuals and
families would also be likely
to employ Bahamian private
trust companies, foundations,
purpose trusts and Interna-
tional Business Companies
(IBCs) to hold, manage and
best structure these funds.

Mr Moree said the Bahamas
had to focus more on market-
ing structures as opposed to its
products. In this way, the

Bahamian financial services .

industry would “become more
adroit and focused on cross-
fertilisation within the sector”.

Clients in different geo-
graphical regions, the Forum
chairman added, needed dif-
ferent investment and wealth

management structures to
meet their needs, whether it
be tax minimisation, estate
planning or asset protection.

“We need to identify the
needs of these markets,” Mr
Moree said. “We can then go
to these markets, having edu-
cated ourselves about what
their needs are.

“We need to tailor them
[structures] to the specific
opportunities available. We
need to segment our markets
and better understand the
needs of the market. We need
to come up with solutions and
structures that are perfectly
legal and legitimate in their
jurisdictions, and provide them
with whatever benefits they are
seeking.

“Through these ideas, we
will begin to take our jurisdic-
tion to a different level.”

To position and promote the
Bahamian financial services
industry for future growth, Mr
Moree said it would require “a
greater amount of rationalisa-
tion and cohesion” of existing

resources, together with a
strategic plan, rather than
more money, to achieve the
correct results.

“It’s been suggested by a
number of people over the last
several years that we could bet-
ter utilise our tourism offices
throughout the world and our
diplomatic offices,” Mr Moree
said.

“There’s also no reason why
we could not use these facilities
as a means of monitoring activ-
ities in competing jurisdictions
and reporting back, and mar-
keting our financial services
industry in these countries.”

Aggressive marketing and
branding, Mr Moree said, had
enabled relatively new players
such as Singapore, Hong Kong
and Dubai to gain market
share in financial services.

The business, he added, was
becoming more competitive as
a result, with more. sophisti-
cated and demanding clients,
requiring the Bahamas to
increase its service and pro-
ductivity levels to match them.

ES ag
Tribune - the #1 newspaper |

TST eT CES |
ee)



Royal Island (Bahamas) Limited
















INVITATION FOR EMPLOYMENT

Royal Island (Bahamas) Limited, the developers
of the Royal Island resort and residential project,
an ultra-luxury resort and private club residential
community with private residences and club, 200
slip marina and boutique hotel and spa, and a golf
course just off North Eleuthera invites suitably
qualified individuals to apply for the following
position with the company:

BOAT CAPTAIN

Duties and Responsibilities

° Manage fleet of boats and related equipment.
¢ Coordinate and manage maintenance of boats
* Coordinate all water sport activities.

e Snorkeling

e Diving

¢ Flats and Deep Sea fishing
¢ Manage Staff of First Mates.
° Coordinate Safety of all boat patrons,

¢ Qualifications: The ideal candidate will have to
reside on Eleuthera or its surrounding area and
have a minimum of 10 years experience as a boat
captain. Must be familiar with the local waters
and the area around Royal Island. Must have
strong managerial and organizational skills in the

- areas of personnel and boat operations. Must be
computer literate with strong written and verbal
communication skills.

Interested persons should submit their resumes
with cover letter to:

The H.R. Director
GCM
P.O.Box N 1991
Nassau Bahamas
Fax to: (242) 356-4125
Or Email to: info@ gomezcorp.com

Royal Island (Bahamas) Limited thanks all

applicants for their interest, however only those

under consideration will be contacted.



INVITATION FOR EMPLOYMENT

Royal Island (Bahamas) Limited, the developers of
the Royal Island resort and residential project, an
ultra-luxury resort and private club residential community
with private residences and club, 200 slip marina and
boutique hotel and spa, and a golf course just off North
Eleuthera is seeking to employ a Married Couple with strong
managerial, operational and organizational skills in
managing resort properties to oversee all day to day
operations on the island.

Duties and Responsibilities

e Greeting potential members/buyers/investors

e Arranging transportation, including airport, transfers, boats
and on -island vehicles

¢ Responsible for setting up guest relations, all staff training,
motivation and recruitment

° Manage local accommodations

¢ Upkeep of boat fleet

¢ Manage/coordinate all ocean/beach activities

¢ Manage guest inquiries and complaints in an efficient and
professional manner

° Once the Preview Village is completed this position will:

° Oversee operations

¢ Maid Service

¢ Food/beverage

° Beach activities

* Ocean activities

¢ General maintenance upkeep of premises
° Manage fitness/spa activities

e Assist in sales process

* Qualifications: The ideal candidate must have a minimum
of 10 years experience in resort property management with
significant experience in the restaurant and spa industry,
including operations and maintenance of pool and spa
equipment. Must have strong managerial and organizational
skills in the areas of personnel and bugeting. Must be computer
literate with strong written and verbal communication skills.

Interested persons should submit their resumes with cover
letter to:

The H.R. Director

GCM
P.O.Box N 1991
Nassau Bahamas
Fax to: (242) 356-4125
Or Email to: info@ gomezcorp.com

Royal Island (Bahamas) Limited thanks all applicants for
their interest, however only those under consideration will
be contacted.




Royal Island (Bahamas) Limited
INVITATION FOR EMPLOYMENT




























Royal Island (Bahamas) Limited, the developers
of the Royal Island resort and residential project,
an ultra-luxury resort and private club residential
community with private residences and club, 200
slip marina and boutique hotel and spa, and a golf
course just off North Eleuthera invites suitably
qualified individuals to apply for the following
position with the company:

CHEF
Duties and Responsibilities

° Coordinate and manage multiple food venues.

¢ Coordinate and manage all food preparation
areas.

¢ Budgeting and purchasing of food supplies.

¢ Planning of meals for all food venues.

° Qualifications: The ideal candidate will haye fo
reside on Eleuthera or its surrounding area and
have a minimum of 10 years experience a four (4)
star restaurant cuisine and dining with significant
experience in the food industry. Must have experi-
ence in start up restuarant operation. Must have
strong managerial and organizational skills in the
areas of personnel and budgeting. Must be —
computer literate with strong written and verbal
communication skills.




Interested persons should submit their resumes
with cover letter to:

The H.R. Director
GCM
P.O.Box N 1991
Nassau Bahamas



Fax to: (242) 356-4125
Or Email to: info@ gomezcorp.com

Royal Island,(Bahamas) Limited thanks all
applicants for-their interest, however only those
~-under consideration will be contacted.

Royal Island (Bahamas) Limited

INVITATION FOR
EMPLOYMENT

Royal Island (Bahamas) Limited, the developers
of the Royal Island resort and residential project,
an ultra-luxury resort and private club residential
community with private residences and club, 200
slip marina and boutique hotel and spa, and a golf
course just off North Eleuthera invites suitably
qualified individuals to apply for the following
position with the company:

e Director of Design

¢ Exterior Relations

e Project Managers

e Project Engineers

¢ Genaral Superintendents

e Superintendents

e Assistant Superintendents

e Electrical Construction Managers
e Mechanical Construction Managers
e Office Engineers

¢ Manager of Quality Control

e Inspectors

Over 20 postions are to filled. All positions
require successful applicants to reside at North
Eleuthera or vicinity.

Interested persons should submit their resumes
with cover letter to:

The H.R. Director
GCM
P.O.Box N 1991
Nassau Bahamas

Fax to: (242) 356-4125

Or Email to: info@gomezcorp.com

Royal Iskand (Bahamas) Limited thanks all
applicants for their interest, however only those
under consideration will be contacted.


PAGE 10B, TUESDAY, JANUARY 16, 2007 THE TRIBUNE BUSINESS

Freeport Concrete Company Limited

Statement of Operations

Financial Statements of

Freeport Concrete Company Limited Year ended August 31, 2006, with corresponding figures for 2005



(Expressed in Bahamian dollars)
Year ended August 31, 2006 0 OO OMSSTS:*:=C:st‘Cs:S™:sS:S~SOS Note 3006 3005
Sales, net of discounts 7 BS 16,061,732 22,625,063
Cost of sales 6&8 12,984,405 17,028,578
Gross profit 3,077,327 5,596,485



INDEPENDENT AUDITORS’ REPORT

Jo the Shareholders.

Freeport Concrete Company Limited ; 3,119,925 8,097,688
Operating expenses:
; Payroll related costs, including employee
\We have audited the accompanying financial statements of Freeport Concrete Company: benefits and commissions 7 2,090,021 3,249,728
Limited (the Company’) which Fe hey ' Tat geek 24 OH Bae Rent 7&14 634,782 506,206
ta (the Company”). which comprise the balance sheet as at August 34; 2008 and
the statement of operations, statement of changes in shareholders’ ity and. stat f peugeot ospele : oe Ae ea!
3 rent of p i 1, Ste mee Q ranges ins oidiers: equi yang staenien Depreciation and.amortisation 8 329,011 284,165
of cash flaws for the year then ended. and a summary of significant accounting policies Legal and professional 323,712 170,064
and other explanatory notes . Utilities, postage and delivery 279,096 296,570
Vehicle, maintenance and repairs 228,795 249,479
1 FR Poseconpr init a ik pin hace oe fe a Other operating costs 7 202,878 300,597
Management's Responsibility for the Financial Statements Computer and office supplies © 138,531 140,535
; Bank charges and exchange 115,823 294,218
Management is responsible for the. preparation and fair presentation of thesé Bnancial Interest on long-term debt and
statements in accordance with International Financial Reporting Standards: This due to shareholder 7,961 77,764 53,603
: Ses a lost Lana bn een aaaoke aueuprpanaheaepmeaun seciegen gingioge nates mses gs Interest expense on bank overdraft 9 76,344 56,207
responsibility includes: designing, implementing and maintaining internal contra!’ relevant Business insurance 73,238 . 74,448
to the preparation and fair presentation of financial statements that are free from material Advertising : 66,942 232,297
misstatements, whether due fo fraud or ero selecting and applying appropriate Licence fees and permits _ (54,842 138,577
aeééunting (policies: and making accounting estimates thal aré reasonable in the Security 34,490 33,074
hens . omc “ eres Travel, trade shows and entertainment 33,349 49,291
" >. Donations 18,711 33,091
. Inventory damaged by hurricane 13 - 1,263,610
Auditors’ Responsibility Impairment of property,
plant and equipment 8 & 13 - 475,595
sagt we : . . Gain)/l di f ee
Our responsibility is to express an opintan on these financial statements based On our SER aot c aera eerie (666) 4,126
aud. We conducted our aude inaccordance with Intemational Standards on Auditing as 5,113,227 8,388,402
promulgated: by the international Federation of Accountants, Those standards require
that we comply with relevant ethical requirements and plan and perform the audit to Net loss B$ (1,993,302) (290,714
oblain reasonablé “Assurance whether the dimancial statements are. free. of material oe
misstatement, Basic loss per share 16 BS (0.423) (0.062)
Diluted loss per share 16 BS. (0.423) (0.062)

An audit involves perferrning procedures fo-ohtain audkt evidence ‘about the amounts and
checlosures im: the financial stetertetits. The precaduras selected dépend on our
judgment, including the assasement Of the risks of material fhisstatemant of the financial
statements, whether due to fraud or error, ia making those risk assessments, we
COnSIder FRSHAL Conte! relevaht fo he Company's preparation and far presentation of
the finencial statements in order fo design audit procedures that are appropriate in the
circumstances, but not fer thé purpose of expressitig an Opinian. on the eHectiveness af
the Company's tema! cantrol. An audit alsa includes evaluating fhe aporogriateness of
gocounting principles used and the reasonablenass. of accounting éstimates made by





maNagSsinent. as well as-evaluating the overall pres



8 of the financial statements.

Other income:

Other income 5 40,950 349,504
Interest income on time deposits 1,648 2,623
Insurance proceeds 13 - 1,476,737
Net gain on sale of subsidiary 12 - 620,179

Finance charges on trade receivables 52,160
2,501,203

42,598



See accompanying notes to financial! statements.

Freeport Concrete Company Limited
Statement of Changes in Shareholders’ Equity

Year ended August 31, 2006, with corresponding figures for 2005

(Expressed in Bahamian dollars)

Number of , Contributed Appraisal Accumulated _
defick

shares issued Share capital surplus excess

Total

_sharesissued __Share capital SS Ee

Balance at August 31, 2005 4,708,334 «BS 47,083 5,774,868 «1,433,867 —=«(3,094,802) 4,160,026

SRS Net loss 7 7 a roe (290,714) (280,714)
WAP oS TC ARE BAR —

Balance at August 31, 2006 4,708,334 B$ 47,083 5,774,868 1,433,867 (3,385,606) 3,870,212

S = 7 (1,993,302) (1,993,302)

We believe that the audit evidence we have oblsined is sufficient: and appropriate: to

Net loss -
provide @ Basis for aur spinion. ‘
Decree Giese Tor OME OR NSIOR 4,708,334 - BS __47,083 5,774,868 1,433,867 5,378,908) 1,876,910



Balance at August 31, 2006

" jarour opinion, the Shancial statements present fainy ib al material respects, the financial
position of the Company as at August $1, 2006, and! of its Rnancia) performance and its

cash flows for thé yar theb sndad in accordance with irternationat Financia! Reporting
Standards.

Enihasis of matter

Without qualifying aur opition, we dralv aitention t note 3: the financial statements





See accompanying notes to financial statements.

Freeport Concrete Company Limited

Statement of Cash Flows

Year ended August 31, 2006, with corresponding figures for 2005

(Expressed in Bahamian dollars)
2006 2005

nn ———

Cash flows from operating activities:

which describes thet the Company has incurred @ nat loss. of BST, 999,302 for the year Net loss B$ (1,993,302) (290,714)
ended August 31, 2006 and, as of that date, the Company's current llabilties exceeded its Adjustment for:
currant assets by BS1.069,.88& In addition, as described in notes 3 and 14 fe} asof Depreciation and amortisation 573,353 514,538
August 31, 2006 afd ae cf the date that these financial statetients were approved for Bad debt expense 335,544 482,921
issuance, the Company was not in compliance with various debt covenants in connection Provision for slow moving inventory 251,572 (201,495)
with the bank overivat and Sank loan facilities, privisrily relating to-certain financial ratios. Re ened Se inieon a = ee
The total amount of the bank overdraft and loan at August 31, 2006 was BS1.983,064. impairment of property, plant and equipment - "475,595
The Company hes not received writtan confirmation from fs bankers that they Wi agres, Product warranty ‘ : (10,809) aot:
to tolerate the breaches of debt covenants, and therefore an uncertainty axists a5 to what (Gain)/loss on disposal of property, plant and equipment_ (666) 4,126
' : Operating (loss)/profit before working capital changes (844,308) 1,628,402

action the Company's bankers will take, f any. Jn addition, as described in notes 3 and 14
{d}, the Company commenced an actiat in the Supreme Court of the Commonweatth of

Changes in working capital items:

The Bahamas against the Comptroller of Customs. for judicial review of The. Bahamas Accounts receivable ! (350,024) (524,037)
Customs Department demand for payment of duties of BS738,644 on all goods “oa Due from former subsidiary » 561,250 (578,500)
digplay’ in the new Superstore. and to prohibit the clearing of further goods by the eens subsidiary's shareholders (ers 088) (814 344)
: z . ‘ : ‘i en ‘i nv ‘orl , ,
Company from the Freeport Harbour pending payment of the same, An injunction was Inventory of spare parts and supplies , (29,044) ' (22,476)
abiainad against the Comptroller of Customs and leave was. obtained fo commence an Deposits and prepaid expenses (19,266) _ (35,728)
application for judicial review, The matter is set to be heard on February 12, 2007. The Accounts payable and accrued expenses 942,711 1,895,881
Company has not made ah Addrual ji ae finaAicial statements for the amount of duties imedepeslis, te ee a ee
‘ se Cash (used)/provided by operating activities (46,247) 1,554,198

claimed. Athough the Company's attorney is.of the opinion that the Campany has a good
@rquable case in obiaining the déclarations sought, the ultimate outcome. oF this matter



Cash flows from investing activities:





garnet piésently be determined, arid accordingly no provision for any effects on: the Cash disposed of on sale of subsidiary - (16,158)
Company that may result has. been made jn the Snaricial statements. These situations Additions to property, plant and equipment (974,105) (1,076,010)
indicaté the existence of material Ghoertainties whith cast significant doubt on the Seine of property, plant 11,188 6,000
Gompanyis abi saniintias: : a “sss seitiar _andequipment
alias i he i. i wee a 2 © ne Fence ae easy a may = SS Cash used by investing activities (962,917) (1,086, 168)

realise its aasets and wischargs #8 (abilities jy the normal course of business. The .

financial statements do not includs. adjustments, f any. that may be required fo the Cash flows from financing activities: '
yecorded vale and clagsificdtion of assets and abilities, in the event thé Coripariy is not Repayment of shareholder loan: 7 (440,272)
able t6. 4 See game poneet. ; , ; é Proceeds from long-term debt 100,000 530,000
BGI fo. eee a 8 QI COREE Repayment of long-term debt (169,848) (72,211)
KOE Cash (used)/provided by financing activities (69,848) 17,517
Chartered Accouniasts Net (decrease)/increase in cash and cash equivalents (1,079,012) 485,547
Cash and cash equivalents at beginning of year (201,159) . (686,706)

Freeport, Bahamas.
January 12, 2007

a
Cash and cash equivalents at end of year BS (1,280,171) (201,159)

Cash and cash equivalents comprise the following:

Freeport Concrete Company Limited









Balance Sheet
: Cash BS 198,471 107,747
: : i i i 11,626
August 31, 2006, with corresponding figures for 2005 Time deposits, less those pledged as security 13,274 : .
(Expressed in Bahamian dollars) : : Bank overdraft (4,491,916) _(320,532) a8 S20
Note 2006 2005 Ge eee ee ee
6 : See accompanying notes to financial statements.
Assets
Current assets: Freeport Concrete Company Limited
Cash : BS 198,471 107,747 Notes to Financial Statements
Time deposits 7 4 63,274 61,626
Accounts receivable, riet . 5 1,323,717 1,309,237 Year ended August 31, 2006
Due from former subsidiary - 12 17,250 578,500 (Expressed in Bahamian dollars)
Due from former subsidiary’s shareholders 12 7m - 571,500 ic
Inventories * 6 2,488,843 1,861,349
Inventory of spare parts and supplies 121,187 92,143 4. General information
Deposits and prepaid expenses 132,642 113,376 :
se ———_-845 384. «4,695,478 345,384 4,695,478 Freeport Concrete Company Limited (“the Company") is incorporated under the laws
ae ea, of the Commonwealth of The Bahamas and its shares are publicly held. Thé principal
Property, plant and equipment 8 3,387,232 2,997,002 activities of the Company consist of the production and sale of aggregate and ready- »

mixed concrete and the retail sale of hardware, appliances and other consumer
products. The Company operates two retail stores under the trade name, The Home
Centre, in Freeport, Grand Bahama. The principal place of business for the retail
operations is on West Atlantic Drive, Freeport, Grand Bahama and the ready-mixed
concrete operation is on Queen's Highway, Freeport, Grand Bahama.

AL

B$ 7,732,616 7,692,480

Liabilities and Shareholders’ Equity

Current liabilities: Up to August 31, 2005, the Company owned 90% of the outstanding shares of Robin
i Hood Enterprises Limited ("RH"), a company operating In New Providence,

Bank overdraft 9 BS 1,491,916 320,532







Bahamas. RH is in the business of purchasing and selling new and refurbished
Accounts payable and accrued expenses 10 3,734,627 2,791,916 "
Warranty provision 5,000 15,809 equipment er Effective August 31, 2005, the Company sold its entire
Current portion of long-term debt 7 & 11 183,710 177,788 -investment in Rr
5,415,253 3,306,045 The corresponding figures for the year ended August 31, 2005 in the statement of
operations and the statement of cash flows, include the results of RH up to August
Long-term debt 7&11 440,453 516,223 31, 2005. The corresponding figures in the balance sheet do not include the assets
Shareholders’ equity: and liabilities of RH, as RH was sold effective August 31, 2005.
Share capital 15 47,083 47,083 2, Significant accounting policies
Contributed surplus 5,774,868 5,774,868 The financial statements have been prepared in accordance with International
a ee 8 1,433,867 1,433,867 Financial Reporting Standards ("IFRS") and its interpretations adopted by the
ccumulated deficit CaN Ge International Accounting Standards Board. The significant accounting policies are as
, , , , follows.
Commitments and contingencies 14 .
(a) Basis of preparation
BS 7,732,616 7,692,480 The financial statements are presented in Bahamian dollars (B$) which Is the

functional currency of the Company. The Bahamian dollar Is the currency of the
country where the Company Is domiciled and is the prime operating currency.
The financial statements are prepared on the historical or amortised cost basis,
except for land which Is stated at an appraised value as explained in note 8.

The accounting policies have been consistently applied by the Company and are’
consistent with those used in the previous year.

See accompanying notes to financial statements.

These financial statements were approved for issue on behalf of the Board of Directors
on January 12, 2007 by the following: —.

(b) Cash and cash equivalents

The Company considers all cash on hand, demand deposits with financial
institutions and fixed deposits excluding those pledged as security for letters of
credit, less bank overdraft, as cash and cash equivalents.

Raymond Simpson Director Frederick A. Munnings, Jr. Director






THE TRIBUNE BUSINESS

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

NN

2. Significant accounting policies, continued |

(c) Financial instruments

(0)

TUESDAY, JANUARY 16, 2007, PAGE 11B

foreign exchange rates prevailing at the dates of the transactions. Monetary
assets and liabilities denominated in currencies other than the Bahamian dollar
are translated at the market exchange rates at the close of each business day.
Exchange differences arising on translation are included in the statement of
operations.

Segment reporting

A segment is a distinguishable component of the Company that is engaged in
providing products (business segment), which is subject to risks and rewards
that are different from other segments. ‘





Classification (p) Use of estimates /

Financial instruments include financial assets and financial liabilities. Financial The preparation of financial statements in conformity with IFRS requires

assets that are classified as loans and receivables include accounts receivable, management to make judgments, estimates and assumptions that affect the

due from former subsidiary and due from former subsidiary's shareholders. application of policies and reported amounts of assets and liabilities, disclosure ;
Financial liabilities that are not at fair value through profit or loss include bank of contingent assets and liabilities at the balance sheet date and the reported 4
overdraft, accounts payable and accrued expenses and long-term debt. amounts of income and expenses during the year. i
Recognition The estimates and associated assumptions are based on historical experience i

and various other factors that are believed to be reasonable under the
circumstances, the results of which form the basis of making the judgments
about carrying values of assets and liabilities that are not readily apparent from
Measurement other

sources. Actual results may differ from these estimates. Significant estimates
which could impact the Company's financial statements include the estimated H
useful life of assets which are depreciated, impairment, allowance for doubtful H
accounts and provision for slow moving and obsolete inventory. The estimates
and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is i
revised if the revision affects only that period or in the period of the revision and , 2 L

The Company recognises financial assets and financial liabilities on the date it
becomes a party to the contractual provisions of the instrument.



Financial instruments are measured initially at fair value (transaction price) plus,
in the case of a financial asset or financial liability not at fair value through profit
or loss, transaction costs that are directly attributable to the acquisition or issue
of the financial asset or financial liability. Transaction costs on financial assets
and financial liabilities at fair -value through profit or loss are expensed
immediately, while on other financial instruments they are amortised.



Subsequent to initial recognition financial assets classified as loans and future periods if the revision affects both current and future periods.
receivables are carried at amortised cost using the effective interest rate method, :
eae eens, Freeport Concrete Company Limited
Financial liabilities, other than those at fair value. through profit or loss, are Notes to Financial Statements, Continued

d at amortized cost using the effective interest rate method.
measured at amorti using the effective interest ra Year ended August 31, 2006

Derecognition (Expressed in Bahamian dollars)

ne

The Company derecognises a financial asset when the contractual rights for
cash flows from the financial asset expire or it transfers the financial asset and
the transfer qualifies for derecognition in accordance with International ;
Accounting Standard 39. During the year ended August 31, 2006, the Company incurred a net loss of Hi
The Company derecognises a financial liability when the obligation specified in Bet 28 302 and as of August 31, 2006, Ine: Gormpany's curent liabilities exceeded H
the contract is discharged, cancelled or expired, its current assets by B$1,069,869. In addition, Becdescibed in note 14 (e), as of TE
August 31, 2006 and as of the date that these financial statements were approved for
(d) Accounts receivable, net issuance, the Company was not in compliance with various debt covenants in

, connection with the bank overdraft and bank loan facilities, primarily relating to
certain financial ratios. The total amount of the bank overdraft and loan at August 31,
2006 was B$1,963,064. The Company has not received written confirmation from its
bankers that they will agree to tolerate the breaches of debt covenants, and therefore
an uncertainty exists as to what action the Company's bankers will take, if any.

Freeport Concrete Company Limited In addition, as explained in note 14 (d), the Company commenced an action in the
Notes to Financial Statements, Continued ; . Supreme Court of the Commonwealth of The Bahamas against the Comptroller of
Customs for judicial review of The Bahamas Customs Department demand for
payment of duties of B$738,644 on all goods “on display” in the new Superstore and
to prohibit the clearing of further goods by the Company from the Freeport Harbour
pending payment of the same. An injunction was obtained against the Comptroiler of
Customs and leave was obtained to commence an application for judicial review.
; The matter is set to be heard on February 12, 2007. The Company has not made an
(e) Inventories : accrual in its financial statements for the amount of duties claimed. Although the

(i) Retail hardware and consumer products Company's attorney is of the opinion that the Company has a good arguable case in

Retail hardware and consumer products are stated at the lower of cost and obtaining the declarations sought, the ultimate outcome of this matter cannot H
net realisable value. Cost is determined using the weighted average presently be determined, and accordingly no provision for any effects on the H|

method. Inventory provisions are made when, in management's opinion, Company that may result has been made in the financial statements.

3. Going concern H

Accounts receivable are stated at amortised cost less an allowance for doubtful
accounts determined based on the policy for impairment in note 2(g).



Year ended August 31, 2006
(Expressed in Bahamian dollars)

i

2. Significant accounting policies, continued



inventory items will have to be sold at amounts less than cost. Inventory The above situations indicate the existence of material uncertainties which cast |

provisions are calculated as the difference between net realisable value, as significant doubt on the Company's ability to continue as a going concern, and | 4

estirhated by management, and cost. therefore it may be unable to realise its assets and discharge its liabilities in the :
(ii) Blocks normal course of business. The financial statements do not include adjustments, if

any, that may be required to the recorded value and classification of assets and

Blocks are carried at the lower of cost and net realisable value. Cost is liabilities, in the event the Company is not able to continue as a going concern.

determined based on direct production costs and an appropriate share of
overheads based on normal operating capacity. Net realisable value is Management and the directors have assessed the above matters and have
determined after considering the net sales price of the finished product. concluded that it is appropriate to prepare the financial statements under the going

(ii) Cement and aggregate concern assumption because of the following reasons:

Cement and aggregate inventories are stated at the lower of cost and net Freeport Concrete Company Limited
realisable value. Cost is determined using the first-in first-out method. Notes to Financial Statements, Continued lH

Property, plant and equipment
0 nee ver Year ended August 31, 2006

Property, ‘plant and equipment are stated at cost less accumulated depreciation (Expressed in Bahamian dollars)
and impairment losses (refer to accounting policy 2(g)), except for land which is

stated-at'apiiraised value based on directors’ valuation and:is not depreciated:

Depreciation is calculated on the straight-line basis over the estimated useful 3. Going concern, continued

lives as follows: 1. During the current year, the Company's Home Centre store went through a
Plant 10 years business transition period of moving out of a dilapidated facility into a new facility
Heavy equipment . 5 years with new products, expanded inventory and all the increased costs associated
Automobiles 3-5 years - with making this move. Certain related costs are not expected to recur in fiscal
Trailers and security booth 5-7 years 2007. :

Store furniture and equipment 7 — 10 years 2. The Company's financial projections for fiscal 2007 indicate profitable operating
Office furniture and equipment 4-7 years results. The decision to close the Home Centre Seahorse location on December
Leasehold improvements the lesser of 10 years or the term of 31, 2006 is expected to save costs and consolidate staff and operations into one

lease after considering renewal options

Expenditures for maintenance and repairs are recognised in the statement of
operations as incurred. Cost of renewals and improvements are added to
property, plant and equipment. At the time of disposal or retirement of assets,
the cost and related accumulated depreciation are eliminated, and any resulting

facility.

3. Anew General Manager for the Home Centre has been hired and is focused on
increasing sales, improving gross profit margins, controlling costs and improving
inventory management.

4. The Company has made all of the loan payments on the scheduled due dates.

rofit or loss is reflected in the statement of operations. ; ‘ ‘
prom hein nien eeuegee Discussions were held with the Company’s bankers who have been asked to

tolerate the breaches of covenants and allow the Company to continue to
: ok operate under the existing loan and overdraft facility limits, with the same
Freeport Concrete Company Limited scheduled monthly loan repayments.

Notes to Financial Statements, Continued 4. Time deposits i






























Year ended August 31, 2006 As of August 31, 2006, time deposits earned interest at 3% (2005: 3%) per annum.
(Expressed in Bahamian dollars) Time deposits of B$50,000 (2005: B$50,000) are being held by the Company's
—_—_— OO OOOO bankers as security for letters of credit as referred to in note 14(b). All time deposits
y mature within 3 months of the balance sheet date. All time deposits are held with
2. Significant accounting policies, continued banks located in The Bahamas and are denominated in Bahamian dollars.
(g) Impairment : 5. Accounts receivable, net
The carrying amount of the Company's assets other than inventories (refer to —_—
accounting policy (e)) are reviewed at each balance sheet date to determine cate elu
wnelier there is any indication of impairment. If any such indication exists, the Trade accounts — third parties B$ 1,333,818 4,086,067
asset's recoverable amount is estimated. An impairment loss is recognised Trade accounts — related parties 411,154 58,759
whenever the carrying amount of an asset exceeds its recoverable amount. The Trade accounts — employees 106,458 61,889
recoverable amount is determined based on the higher of the asset's value in Other 2 300,000
use (present value of estimated future cash flows expected to arise from the Other employee receivables and advances 20,119 12,020
continuing use of an asset and from its disposal at the end of its useful life) or net : 1,871,549 1,518,735
selling price (arm's length sales price between willing parties less costs. of Less: allowance for doubtful accounts (547,832) (209,498)
disposal). Impairment losses are recognised in the statement of operations. B$ 1,323,717 1,309,237

(h

=

Accounts payable
? The other receivable in 2005 represents an amount due frorn one of the Company's

Accounts payable and other liabilities are stated at their amortised cost. landlords in connection with the settlement related to the leasehold improvements at

(i) Provisions the Peel Street location. This amount has been reflected in other income in the 2005

A provision is recognised in the balance sheet when the Company has a legal or State Regn oh opera
constructive obligation as a result of a past event, it is probable that an outflow of Freeport Concrete Company Limited
economic resources will be required to settle the obligation and the amount can Notes to Financial Statements, Continued

be reasonably estimated.
” Year ended August 31, 2006

(i) Warranties ‘ (Expressed in Bahamian dollars)

Sn

The provision for warranties is based on estimates made by management from











historical warranty data. s 5. Accounts receivable, net continued
(k) Revenue recognition The movement in the allowance for doubtful accounts is-as follows:
: 2006 2005
Revenue from the sale of retail hardware and consumer products, aggregate, 3
blocks and ready mix concrete is recognised at the point af sale. Balance at the beginning of the year BS 209,498 187,711
: ha 4 . taut Increase in provision for bad debts 335,544 482,921
Net gain on sale of subsidiary is recognised when the significant risks and Write-offs (28,863) (285,601)
rewards of ownership have been transferred to the buyer. Recoveries 31,653 -
. Decrease resulting from sale of RH - (175,533)
(Il) Operating lease payments Balance at the end of the year BS 547,832 209,498
Payments made under operating leases are recognised as an expense in the 6. Inventories
statement of operations on a straight-line basis over the term of the lease. a —
2006 2005
(m) Interest income and expense ~
: . Hardware and consumer products B$ 2,865,322 1,984,624
Interest income and expense are accounted for on the accrual basis. Aggregate 3,417 6,671
Cement 13,186 20,384
Blocks 17,364 8,544
Freeport Concrete Company Limited 2,899,289 - 2,020,223
Notes to Financial Statements, Continued Less: provision for slow moving and obsolete inventory (410,446) (158,874)
BS 2,488,843 1,861,349

Year ended August 31, 2006

(Expressed in Bahamian dollars) ; a :
The amount shown below as Increase/(decrease) in the provision for slow moving

and obsolete inventory is included in cost of sales in the statement of operations:

i





2006 2005
2. Significant accounting policies, continued
Opening provision for slow moving and
(n) Foreign exchange obsolete inventory BS 158,874 559,428
Increase/(decrease) in provision 251,572 (201,495)
The Company's functional and reporting currency is the Bahamian dollar. Decrease resulting from sale of RH__ _ te ee et ___ (199,059)
BS 410,446 158,874

Transactions in foreign currencies are translated to Bahamian dollars at the
THE TRIBU

Free

NE BUSINESS

port Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006

(Expres

sed in Bahamian dollars)



14. Commitments and contingencies, continued

(a)

Free

Leases, continued
New Home Centre Lease

In July 2005, the Company entered into a 15 year lease agreement with a
company related to the founding shareholder. The lease commenced on
January 1, 2006, however, the Company did not occupy the building until June,
2006. The Company became liable for rent effective June 1, 2006. During the
first 48 months the lease calls for rent of B$396,000 per annum to be paid in
monthly instalments of B$33,000. Thereafter, the rent is increased in proportion
to the United States consumer price index. The Company received a discount on
the rent for the period from June 1, 2006 to August 31, 2006 of B$8,000 per
month, to B$25,000 per month. Thereafter, the rent increased to the amount in
the lease of B$33,000 per month. Rent expense incurred during the current year
on this lease amounted to B$75,000 (2005: B$Nil).

Lucaya store lease

In 2005 the Company entered into a 3 year renewable lease for retail store space
comprising approximately 10,000 square feet, in Lucaya. The lease is payable in
monthly instalments of B$11,717 per month. Annual rent will be adjusted to
reflect increases in the consumer price index. Annual rent is not to exceed
B$180,592. Subsequent to year end the Company decided to close this location,
however, the Company continues to be liable under the terms of the lease
agreement until the expiration date in December 2007. Rent expense incurred
during the current year on this lease amounted to B$140,604 (2005: B$93,731).

Administrative offices

The Company leases administrative office space from a related party. The lease
expired on August 31, 2006 and was not renewed. Rent expense incurred
during the current year on this lease amounted to B$34,279 (2005: B$32,016).

The approximate future minimum annual lease payments and license fees under
non-cancellable leases are as follows:

2007 544,095
2008 450,366
2009 403,501
2010 139,501
2011 139,501
Thereafter ' 4,254,004

B$ 5,930,968

port Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006

(Expres

sed in Bahamian dollars)



14. Commitments and contingencies, continued

(b)

(c)

(d)

Credit facilities

The Company is contingently liable under stand-by letters of credit amounting to
B$50,000 (2005:$50,000), which are secured by time deposits of an equivalent
amount. The Company is also contingently liable under a corporate visa credit
card of B$20,000 (2005: $20,000). The Company has available a B$1,770,000
(2005: B$1,000,000) overdraft facility of which B$1,491,916 (2005: B$320,532)
has been used at year end.

These credit facilities are collaterised by fixed deposits of B$50,000
(2005:B$50,000) and a fixed and floating charge over the Company's land and
all of its business assets stamped for B$2,640,000.

The Company is also contingently liable under a customs bond guarantee of
B$50,000 (2005: B$50,000).

Capital commitments

The directors have approved B$460,000 in connection with the construction of a
new block plant and a concrete plant at the new BRL premises. As of August 31,
2006 B$190,000 had been incurred. The Company has placed a hold on the
construction of the premises.

Litigation

The Company commenced an action in the Supreme Court of the
Commonwealth of The Bahamas against the Comptroller of Customs for judicial
review of The Bahamas Customs Department demand for payment of duties of
B$738,644 on all goods “on display” in the new Superstore and to prohibit the
clearing of further goods by the Company from the Freeport Harbour pending
payment of the same. An injunction was obtained against the Comptroller of
Customs and leave was obtained to commence an application for judicial review.
The matter is set to be heard on February 12, 2007. The Company has not
made an accrual in its financial statements for the amount of duties claimed.
Although the Company's attorney is of the opinion that the Company has a good
arguable case in obtaining the declarations sought, the ultimate outcome of this
matter cannot presently be determined, and accordingly no provigion for any
effects on the Company that may result has been made in the financial
statements. ‘

The Company is involved in various other legal proceedings and claims related
to products sold by the Company and unfair dismissal matters. Based on
information provided by the Company's legal counsel, in management's opinion,
the ultimate disposition: of these matters will not have a material effect on the
Company's financial condition, in excess of the provisions that have already been
recognised.

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)



14.

15

16.

17.

. Commitments and contingencies, continued
(e) Non-compliance with debt covenants

As of August 31, 2006 and as of the date that these financial statements were
approved for issuance, the Company was not in compliance with various. debt
covenants in connection with the bank overdraft and bank loan facilities, primarily
relating to certain financial ratios. The total amount of the bank overdraft and
loan at August 31, 2006 was B$1,963,064. The Company has not received
written confirmation from its bankers that they will agree to tolerate the breaches
of debt covenants, and therefore an uncertainty exists as to what action the
Company’s bankers will take, if any.

. Share capital

, The Company has an authorised share capital of 20,000,000 shares with par value
B$0.01 per common share. As at August 31, 2006, 4,708,334 (2005: 4,708,334)
shares were issued and fully paid.

Loss per share

Loss per share is calculated by dividing net loss for the year by the weighted average
number of shares issued and outstanding. There are no share options, warrants of
other instruments outstanding that have the effect of diluting loss per share.

2006 2005
Net loss applicable to ordinary shares B$ (1,993,302) (290,714)
Weighted average number
of ordinary shares outstanding 4,708,334 4,708,334
Weighted average number
of ordinary shares outstanding,
assuming full dilution for options 4,708,334 4,708,334

a ee en
Segment reporting

Segment reporting is presented in respect of the Company’s business segments.
The primary format is based on the Company's management and internal reporting
structure.

Segment results, assets and liabilities include items directly attributable to a segment
as well as those that can be allocated on a reasonable basis.

The Company operates in The Bahamas only, in two business segments comprising
aggregate and ready-mixed concrete, and hardware and consumer products.



TUESDAY, JANUARY 16, 2007, PAGE 13B

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

eee reerenennewreinnersinenansmmrevenuntt matennene emisiunenad ate fareanedsunieenas Hiane ue ten eet tees4remawtel ous na.sareas seen tr ene turer ener sant stamusiarenveeenr meer emE

17

18.

. Segment reporting, continued

The table below summarises business segment information expressed in B$000's.

ene renter ar eR Ee een nese reresntaneetresumarueserer es ent

Aggregate and Hardware and
ready-mixed concrete consumer products Total Total
2006 2005 2006-2005 __2006 2005

Revenue BS 4,534 2,764 11,528 19,861 16,062 22,625
Direct costs
Materials used/











merchandise sold (2,373) - (1,859) (9,183) (14,502) (11,556) (16,361)
Payroll related (551) = (476) - - (551) (476)
Equipment / (318) (104) - - (318) (104)
Depreciation (244) (230) - - (244) (230)
Utilities (63) (59) - - (63) (59)

(3,549) (2,728) (9,183) (14,502) (12,732) (17,230)

Decrease/(increase) in
provision for slow moving :

inventory - - (252) 201 (252) 201
Gross profit 985 36 2,093 5,560 3,078 5,596
Other income 11 211 31. 2,290 42 2,501
Operating expenses BS (943) (709) (4,170) (7,679) (5,113). (8,388)
Net income/(loss) 53 (462) (2,046) 171 (1,993) (291)
Other information: ;
Total assets B$ 3,137 3,048 4,596 4,644 7,733 7,692
Total liabilities BS. 888 906 4,968 2,916 5,856 3,822

Fair value disclosure of financial instruments

Fair value estimates are made at a specific point in time, based on relevant market
information and information about the financial instrument. These estimates do not
reflect any premium or discount that could result from attempting to realise, at one
time, the Company's entire holdings of a particular financial instrument.

These estimates are subjective in nature and involve uncertainties and matters of
significant judgment and, therefore, cannot be determined with precision. Changes
in assumptions could significantly affect the estimates. The carrying amount of the
Company's significant financial assets and liabilities approximate fair value because
of one or more of the following reasons:

(i) Immediate or short-term maturity,
(ii) Carrying value approximates market value,

(iii) Interest rates which approximate market rates.

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

19.

20.



Financial instrument risk management

The most significant financial risk to which the Company is exposed is credit risk and
interest rate risk. The Company is exposed to credit risk in the form of the carrying
amount of accounts receivable, due from former subsidiary and due from former
subsidiary’s shareholders. The Company is exposed to interest rate risk in the form
of interest bearing bank loan and loan from related party.

The Company manages the credit risk of accounts receivable by evaluating the
creditworthiness of its customers, establishing credit limits and by implementing
procedures to follow up on a regular basis on the collection of any balances in
arrears. Management manages credit risk on amounts due from former subsidiary
and due from former subsidiary's shareholders by obtaining adequate security.

Management does not anticipate any credit losses arising from credit risk exposures
in excess of the allowance for doubtful-accounts disclosed in note 5.

The Company managers interest rate risk by entering into loan agreements at rates
which approximate market rates. ~~

Corresponding figures

Certain corresponding figures for 2005 have been reclassified to conform with the
presentation adopted in 2006.

As explained in note 1, the corresponding figures for the year ended August 31, 2005
in the statement of operations and statement of cash flows, include the results of RH
up to August 31, 2005. The corresponding figures 'in the balance sheet do not
include the assets and liabilities of RH, as RH was sold effective August 31, 2005. A
compatison of the statement of operations for the years ended August 31, 2006 and
2005, excluding the results of RH is shown below:























2006 2005
Sales, net of discounts BS 16,061,732 14,413,749
Cost of sales 12,984,405 11,096,330
Gross profit 3,077,327 3,317,419
Other income 40,950 349,504
Interest income on time deposits 1,648 1,270
Gain on sale of subsidiary - 620,179
Insurance proceeds = 1,476,737
42,598 2,447,690
3,119,925 5,765,109
Freeport Concrete Company Limited
Notes to Financial Statements, Continued
Year ended August 31, 2006
(Expressed in Bahamian dollars)
20. Corresponding figures, continued
2006 2005
Operating expenses: ;
Payroll related costs, including employee
benefits and commissions 2,090,021 1,892,387
Rent 634,782 256,545
Bad debt expense 335,544 320,753
Depreciation and amortisation 329,011 207,634
Legal and professional 323,712 143,127
Utilities, postage and delivery 279,096 175,699
Computer and office supplies 138,531 117,245
Vehicle, maintenance and repairs 228,795 199,247
Other operating costs 202,878 180,835
Bank charges and exchange 115,823 133,637
Interest on long-term debt and
due to shareholder 77,784 53,603
Interest expense on bank overdraft ; 76,344 14,207
Business insurance 73,238 54,393
Advertising 66,942 65,686
Licence fees and permits 54,842 54,682
Security 34,490 13,132
Travel, trade shows and entertainment 33,349 24,149
Donations 18,711 27,230
Inventory damage by hurricane - 1,263,610
Impairment on property, plant and equipment - 475,595
(Gain)/Loss on disposal of property, plant
and equipment (666) 4,126
_ - . 5,113,227 5,677,522
Net (loss)/income B$ (1,993,302) 87,587

21.

Subsequent events

Subsequent to year end, the Company decided to close the store located in Lucaya,
effective December 31, 2006. The Company will still be liable for rent for this location
as explained in note 14 until December 2007, however the Company is attempting to
sub-lease this properly for the remainder of the lease period.









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x a es tae pale as ati 8 fet

A Rn SN EMEP ORIEIIG HE


THE TRIBUNE BUSINESS







































































































TUESDAY EVENING JANUARY 16, 2007
8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30
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TUESDAY, JANUARY 16, 2007, PAGE 15B

let Charlie the
Bahamian Puppet and
his sidekick Derek put,

some smiles on your

kids’s faces.

Bring your childven to the
McHappy Hour at McDonald's in
: Marlborough Street every Thursday
from 3:30pm to 4:30pm during the
month of January 2007.

Enjoy Great Food, Prizes and Lots of Fun. |

BS

?m lovir’ it

—orcall

Mimake great gifts!
Breezes expands US _ Travel agents |
passport refund plan

PAGE 16B, TUESDAY, JANUARY 16, 2007



New port to boost shipping |

THE TRIBUNE

‘revenues and employment

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter

ahamian shipping

industry executives

backed the relocation

of commercial shipping

faclities from down-
town Nassau, as the Government
signed a contract with the Dutch
design firm Ecorys-Liviense to cre-
ate a business plan for the project,
which is vital to the revitalisation of
Bay Street.

During the contract signing at the
Cabinet Office, it was announced that
Ecorys-Liviense is to create a busi-
ness plan for the the new port over
the next several months, at a cost of
between $350,000-$400,000. The cost
is to be shared between the public
and private sectors.

Speaking on behalf of the industry,
Michael Maura, of Tropical Shipping,
said the sector fully supported the
project, which will require them to
relocate their facilities to southwest-
ern New Providence.

The new port will be located at
Clifton, in between BEC’s Clifton
power plant and Commonwealth
Brewery.

“As a shipping company and as a
Bahamian, I am - and my company is
- in full support of doing what we
need to do to make New Providence
a better place for us today and our
children tomorrow,” Mr Maura said.

“As a group (the Task Force
assigned to the project), and I know I
speak for the whole team, we are very
excited about this opportunity and
we will continue to work very hard. I
am proud of the work which we have
done.”

Mr Maura said that in many cases,
Bahamian shipping companies inher-
ited the space they now occupy. Yet it
was never necessarily built for a ship-
ping company.

“As we have been very fortunate
within the Bahamas to see our econ-
omy thrive, we have reached the point
where the shipping companies have to
go higher and higher in terms of their
containers and so forth, because we
have physical limitations on the prop-
erties we occupy,” Mr Maura said.

As a result, the port relocation
would enable the shipping companies
to expand and improve their opera-
tions, leading to increased revenue



@ MICHAEL MAURA of Tropical Shipping,
plan for the new port in southwestern New Providence

and employment.

“There is a lot of congestion [on
the current docks], and so we will
realise efficiencies which will help us

have better control of our costs. We’

will be able to do more with what we
have, and also there is the whole safe-
ty component,” Mr Maura said.

He added that over the next few
months, the joint public and private
sector task force will be visiting
Caribbean and US ports to learn from

is pictured at the signing of the contract to develop a business
with the Dutch firm, Ecorys-Liviense

their experiences, and obtain their
recommendations on how to proceed
forward.

Marten van den Bossche, vice-
chairman of Ecorys-Liviense’s board
of directors, said he expects the busi-
ness plan to be completed within the
next four to five months. “Moving
the port from downtown will free up
more than 50 acres of prime water-
front development for conversion into
commercial and residential uses, and

restore Nassau to its rightful place
among the leading waterfront cities,
not only in the Caribbean but in the
world,” Prime Minister Perry Christie
said. He added that the new port was
not being planned in isolation, but
was part of a comprehensive plan for
the redevelopment of southwestern
New Providence. This will soon see
the creation of the Clifton Heritage
Park and the $1.3 billion Albany res-
idential development, plus a revi-

(Photo: Tim Clarke/Tribune Staff)

talised South Ocean resort...

The Nassau Tourism and Devel-
opment Board’s chairman, Charles
Klonaris, said the contract signing
showed the private and public sec-
tors were serious and committed to
the redevelopment of downtown Nas-
sau. “This is a very positive thing and
we are all excited. The relocation of
the port is one of the fundamental
elements of the redevelopment of the
city,” he said.







‘confused’ on —
Baha Mar hotels




lm By CARA BRENNEN-
BETHEL °
Tribune Business Although the chain has 4
Reporter at the 2007 4 ‘ eek
Caribbean Marketplace oe ‘ FROM page 1B _ Baha Mar is likely to have viewed Inst ‘
conference joined other Caribbean night's ining as puting n end to spel



2

ARUBA — Superclubs
Breezes Bahamas is joining
the rest of the chain in offering
to reimburse the costs of
obtaining a US passport to
travel agents and groups who
stay at the resort.

Although the chain has
joined other Caribbean hotels
in refunding passport costs for
US families and individuals, it
decided to ensure group trav-
el would not be impacted if a
small number of those persons
-did not have passports.

Similarly, SuperClubs
realised there were a signifi-
cant number of travel agents
who may not have US pass-
ports, and decided to offer the
promotion to them as well.

To be eligible for the reim-
bursement, guests have to pro-
vide proof they obtained either
their passports or obtained a
renewal of their passports as a
result of the Western Hemi-
sphere Travel Initiative’s
(WHTI) launch.

This announcement came at
a press luncheon yesterday,
given by SuperClubs for press
attending Carribean Market-
place in Aruba.

The incentive comes on the
heels of the US government's
decision not to extend the
WHTI deadline for Americans
to’ have passports for re-entry

hotels in refunding passport
costs for US families and
individuals, it decided to
ensure group travel would
not be impacted if a small
number of those persons
did not have passports

into their homeland past Jan-
uary 23, 2007.

Suzanne McManus, Super-
Clubs vice-president of public
relations, made the announce-

ment. Although the WHTI.

was initally seen as having a
major impact on the Car-
ribean, many Carribean coun-
tries attending this two-day
travel and trade show felt that
strong marketing campaigns
over the past few months had
minimised the fallout.
SuperClubs, which had tra-
ditionally held a strong posi-
tion in the destination wed-

ding market, is planning to
increase profits in this are
through a new service.

This will allow friends and
family to purchase items the
couple registers for for their
honeymoon. This would
include items such as spa visits
and. massages, Ms McManus
said.

A company representative
said SuperClubs’ Cable Beach
resort recently had to undergo
minor repairs to fix plumbing
problems, and room doors,
which were expected to be
completed in a few weeks.



“Are these new hotels actually going to be
built? Will this really happen, and when will
this happen? They are unsure about how to
market the project.

“I think that the developers need to have
better communications regarding what is
going to happen, and generate some excite-
ment for the resort in the industry.” |

Mr Hanrattay’s comments came as Baha

Mar’s chief executive, Sarkis Izmirlian, last
night signed the formal joint venture agree-
ment with Harrah’s as Tribune Business went
to press.
. The deal is likely to see Harrah’s become
the brand and operating partner for the cur-
rent Wyndham casino, which will be rebrand-
ed under the Caesar’s logo. In addition, there
will also be a 1,000-room Caesar’s hotel.

There has been a growing impatience
among members of the public, particularly
those living at Cable Beach, to see the Baha
Mar project crank into construction gear.
Among the most important projects yet to
start are the re-routing of West Bay Street
and the start of the commercial village, which
will house all the offices and government
buildings currently on the south side of West
Bay Street.

The major construction is likely to begin
this year, once Kerzner International’s Phase
II expansion on Paradise Island is complet-
ed. This will free up construction workers in
an already-tight labour market.

Baha Mar has already embarked on an $80
million upgrade of the Radisson, which will be
rebranded as a Sheraton once completed.
Starwood, Baha Mar’s operating partner, will
also take a stake in the project along with
Harrah’s.

arrangement, given that its ownership
changed hands to two private equity firms “}

recently.

Meanwhile, Mr Hanratty said that overall,
the Bahamas continues to do very well asa :
destination for them, primarily due to its close »
proximity to the US. This means most trav-
ellers can get here within a two-and-a-half "}:

hour flight.

“The impression is generally favourable,” *}

he said of the Bahamas.

Group travel continues to do very well, he =):

added, noting that Travel Impressions had

just completed the planning for a group of .
1200 represenatives of the Yellow Book °
Group (the company behind the yellow pages .
in the US) to stay at the Our Lucaya resort-on 25

Grand Bahama in March 2007.
Increasingly

Mr Hanratty said that increasingly, the

company’s clients were seeking more inti- .

mate tour experiences during their vacations.

He added that there was a demand for new ;

tours, which would also serve to increase the

amount of money vistors spend during their Ff

vacation.

As Travel Impressions is owned by Amer-
ican Express, whose cardholders account for
many of their clients, Mr Hanrattay said they
have a market for high-end and different
experiences in the Bahamas. Y

Travel Impressions is headquartered, with

an additional office, in Bethlehem ,Pennsly- *
vania. Since its inception in 2004, it has taken
more than five million travellers to the Car- ¢
ribean, Bahamas, Latin America, Tahiti and .

the US.























'

ibune





Teme benetan’” it...

83F

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71F

js WITH SUN

The Miami Herald —

BAHAMAS EDITION







Volume: 103 No.46-





“gay crisi




‘We can hoost financial |
sector's GDP share by
10% in 10 years’

Saag a ac) aa tt SSS gL

Archbishop Gomez says
Anglicans could split
over homosexuality

@ By KARIN HERIG

THE Anglican church may be
divided into two separate groups
as a consequence of the continu-
ing debate on homosexuality, Arch-
bishop Drexel Gomez of the West
Indies said yesterday.

As the issue threatens to tear the

church apart, deliberations con-
cerning the future of the Anglican
Communion, which claims 38
autonomous provinces and some
70 million members world-wide,
will be held here in the Bahamas
with Archbishop Gomez presiding
over the proceedings.

Speaking at a press conference

held at Addington House yester-
day morning, Archbishop Gomez:

said that the Anglican Church is
now at a pivotal moment in its his-
tory and will likely see the creation
of two sub. groups within its world-
wide Communion.

The Archbishop of Canterbury
Rowan Williams has appointed
Archbishop Gomez as chairman of
the 10-member Covenant Design
Group.

The group is charged with deter-
mining the full implications of the
actions of two of the world’s largest
Anglican Provinces, the United
States and Canada — both have
been supportive of same-sex unions
and approved the Episcopal
Church’s consecration of a gay bish-

op.

Archbishop Gomez explained
that the group includes experts in

canon law, the nature and the mis—

sion of the church and ecumenical
relations.

“We are expecting to be able to
do enough work by Thursday night
that we will be able to make a inter-

-im report to the Archbishop of the

Communion,” he said.

The interim report is expected
to be presented to the Primates
Meeting and Joint Standing Com-
mittee when they meet in Tanzania
in February.

“A lot hinges on the actions the
Archbishops will take,” Archbishop
Gomez said.

He emphasised that it is impor-
tant that the Anglican principle
of “unity within diversity” be
guarded.

“In Anglicanism we have up to

this point been able to hold togeth-
er certain diverse theological views
and still remain as one Commu-
nion,” he said.

The Archbishop said that he
hopes a division into sub-groups
within the Communion will pre-
vent the split of the Anglican
Church, which many believe to be
inevitable.

He said that the Archbishop of
Canterbury envisions that those

provinces, which sign on to the

Covenant, will become constituent

SEE page 10

Pa se DATS SRT eH TET PTT TN ON TEIT ES ITO SIE TT TST TS












~










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The Taste on Tuesdays *
~ Buyany large pizza with 2 or more
- foppings & Get a medium
_ ]-topping pizza absolutely





Bahamians ‘won't

~ need to have

visas for Europe
in the future’ .

i By ALEXANDRIO-
MORLEY
Tribune Staff Reporter

__ FOREIGN Affairs Minis-
ter Fred Mitchell announced
yesterday that Bahamians will
not be required to have visas
to enter Europe in the future,
and the government is set to
sign a new trade agreement
with the European Union.

Minister Mitchell told
reporters that the Christie
administration, from May
2002, had been working to
resolve the issue of access of
Bahamians to Europe.

In June 1985, seven Euro-
pean Union countries signed a
treaty to end internal border
checkpoints and controls.

With a “Schengen” visa
persons may enter one coun-
try and travel freely through-



SEE page 10



US commitment
to anti-drug
mission with
the Bahamas
is reaffirmed

@ By PAUL TURNQUEST
Tribune Staff Reporter

US SENATOR Bill Nelson
reaffirmed the United States com-
mitment to the joint US/Bahamas
anti-drug OPBAT mission, stat-
ing that the US is fully aware of
the importance of the mission
both to the US and the Bahamas.

Yesterday Senator Nelson gave
great credit to US Ambassador
John Rood for bringing the con-
cern of the OPBAT mission to
his attention, and advised the pub-
lic that the US Army has com-
mitted to funding the operation
for at least another five years.

“The main thing was when the
US army decided that they need-

SEE page 10

TUESDAY, JANUARY 16, 2007

A STARK warning was issued
from Inagua yesterday after van-
dals wrecked two vehicles belonging
to the police and Defence Force.

“We want justice - and if we don’t
get it there will be worse to come,”
said a source after the truck and car
were left with smashed windows
over the weekend. :

The incident is believed to be an
act of frustration and rage caused by
government's failure to arrest those
believed to be involved in ihe beat-
ing of aiy Inagua nian by Defence
Force marines in late November.

Islanders now believe govern-

ment is trying to protect some of
the men who beat marine worker
Dexter Wilson in what witnesses
claim was an unprovoked attack
seven wecks ago.

Defence Force officials yester-
day confirmed that one of their
vehicles had been vandalised, but
could not say if this act of violence
was in any way related to the attack
on Mr Wilson.

“JT was informed that there was
some vandalism on two vehicles,
but we cannot yet Say if it’s‘in-any
way.connected to the incident (the

attack). Iam awaiting the report on ~

the matter and will'then know
more,” Sub Lt Sonia Miller, public
relations officer for the Defence
Force, told The Tribune.

Mrs Miller said that the investi-
gation into the vandalism was con-
tinuing, but no suspects had yet
been taken into custody.

One of the officers involved in
the attack seven weeks ago — when
Mr Wilson was left for dead by a
group of marines — is believed to
belong to the Drug Enforcement
Unit (DEV). ‘ a

SEE page 10.



near to Excellence Estates.

. (Photo: Ana-Bianca Marin)

@ By ALEXANDRIO MORLEY
Tribune Staff Reporter a

FRUSTRATED residents of
Excellence Estates are complaining
about a number of problems -—
among them that government
employees are attempting to take
advantage of single mothers in the

area.

Yesterday, The Tribune reported
that home-owners in the recently
built government subdivision were
complaining about leaky roofs, cheap
wall paint, and many unfinished
repairs which they claimed the Min-
istry of Housing has failed to address.

In order to verify the authenticity

SEE page nine

@ A RESIDENT complained
about a dump site which is located

Herald .

Dolphin dies at Atlantis
after a long illness

ONE year after their arrival in the Bahamas, one of the
dolphins, rescued from the Marine Life Oceanarium in
Mississippi after Hurricane Katrina, has died at Atlantis.

Tessie, the 31-year-old dolphin, who for health reasons
was initially left behind when her pod mates were sent to the
Bahamas, died last week after a long illness.

The other 16 dolphins are healthy and swimming along in
their new environment at Atlantis Resort, Frank Murru,
chief marine officer for Kerzner International, told the Sun





Tessie was among the many dolphins washed out into the
open ocean after Hurricane Katrina swept along the Gulf
Coast leaving devastation in its wake.

As her fellow pod mates were being prepared to be trans-

ported to their new home at Atlantis, her caretakers dis-

SEE page nine



st resolution for the New Year?”

Call today!

= PEIDELITY

Nassau: 17 356.7764 © Freeport


4E | 1UESDAY, JANUARY 16, 2007



NHL GAMES

Associated Press

UNIONDALE, N.Y. — Mar-
tin St. Louis, Vincent Lecava-
lier and Brad Richards each
had a goal and an assist to lead
the Tampa Bay Lightning past
the New York Islanders 4-3 on
Monday.

Vaclav Prospal had a goal
and two assists for Tampa
Bay, which has won five
straight. Johan Holmavist
stopped 33 shots for his third
straight win against New
York.

Alexei Yashin, Viktor Koz-
lov and Trent Hunter scored
for the Islanders, who have
dropped two straight and eight
of their last 10, including four
straight at home.

e Bruins 3, Sabres 2
(SO): In Boston, Marco Sturm
scored the lone goal in the
shootout to lift Boston over
Buffalo and snap the Bruins’
three-game losing streak. ,

Marc Savard and PJ. Axels-
son also scored for Boston,
which avoided its longest los-
ing streak of the season. Derek
Roy and Jochen Hecht scored
for the Sabres, who have lost a
season-high three straight.

Ryan Miller stopped 35
shots for Buffalo, including an
exceptional diving save with
his stick on a shot by Paul
Mara late in the second period.
But he couldn’t get his stick on
Sturm’s shot in the shootout.

e Stars 3, Kings 1: In Dal-
las, Stu Barnes and Niklas
Hagman scored power-play
goals, Marty Turco stopped 20
shots and the Stars snapped a
three-game losing streak. .

Trevor Daley added a goal,
and Mike Ribeiro had two

INTERNATIONAL EDITION

~ HOCKEY | BASEBALL



KIRTHMON DOZIER/DETROIT FREE PRESS/MCT

ICY DEFENSE: Detroit’s Pavel Datsyuk, right, defends
against Montreal's Alex Kovalev on Monday.

assists for Dallas. Michael
Cammalleri had a power-play
goal for Los Angeles.

Dallas is 6-0 against Los
Angeles this season, outscor-
ing the Kings 23-11. Los Ange-
les has lost four straight over-
all. ,

e Coyotes 5, Blues 4
(SO): In Glendale, Ariz., Lad-
islav Nagy scored the deciding
goal in a shootout, giving
Phoenix a victory and snap-
ping St. Louis’ three-game
winning streak.

The Coyotes salvaged the
finale of a three-game home-

FROM THE SPORTS FRON

MOVING ON:
Amelie
Mauresmo
hits a
backhand
return
against
Shenay
Perry in their
first-round
match at the
‘Australian
Open on
Monday.

. Mauresmo
won 6-3, 6-4.

stand after returning to Ari-
zona on a seven-game winning
streak.

The first two skaters for
both teams failed to score in
the shootout before the Blues’
Doug Weight beat Mikael
Tellqvist. But Shane Doan
kept the Coyotes alive with a
goal against Manny Legace,
and then Tellqvist blocked
Peter Sejna’s shot to set up
Nagy’s winner.

Ed Jovanovski scored twice
and had an assist for Phoenix,

and nearly won it in overtime -

when his shot careened off the



Roddick, Mauresmo advance

°OPEN

could hardly walk after five
games. So I had that prob-
lem,” Federer said. “But then
also I had no confidence.
That’s where I was just not
good enough yet. I went

through a patch where I had .

many losses, and maybe more
so I enjoy it now when I win.”

Oh, he wins now. Federer
was 92-5 last season, with 12
titles, including three majors.
He has enough entry rankings
points to ensure he’ll surpass
Jimmy Connors’ long-
standing record of 160 con-
secutive weeks at No. 1.

Connors’ protege, Rod-
dick, had his hands full with
combative up-and-comer Jo-
Wilfred Tsonga, a French
wild-card entry who led by a
set and 5-2 before wilting.

Marat Safin, in his first
match at Melbourne since
winning the 2005 title, held
off Benjamin Becker 5-7, 7-6
(7-2), 3-6, 6-3, 6-4 in the finale
of the night session. Safin
missed the 2006 tournament
with a khee injury.

The other players Federer

had on his fast-starters list,
No. 2-ranked Rafael Nadal
and 2005 runner-up Lleyton
Hewitt, play today. So does
No. 5 James Blake, who meets
Carlos Moya in a rematch of
last weekend’s Sydney Inter-
national final.

Top-seeded Maria Shara-
pova also opens her cam-
paign for back-to-back Grand

. Slam titles on the second day
against Camille Pin of France.
Kim Clijsters and three-time
winner Martina Hingis also
are in action.

Defending champion Ame-

lie Mauresmo beat Shenay
Perry 6-3, 6-4 in the tourna-
ment’s first match on center
court, and 2005 winner
Serena Williams also
advanced in straight sets.
Roddick wasted four set
points in losing a 38-point tie-
breaker before rallying for a
6-7 (18-16), 7-6 (7-2), 6-3, 6-3

victory.
“These first matches are a
little bit uncomfortable

sometimes,” Roddick said.

The 2003 U.S. Open cham-
pion became enraged after
chair umpire Carlos Ramos
declined to overrule a call
that gave Tsonga a set point
in the first tiebreaker, the
longest known at the Austra-
lian Open, according to orga-
nizers.

“We thought he might just
go for broke ... and he did
that,” Roddick said. “I didn’t
know if he’d be able to keep it
up. I kept thinking that he
was going to crack some-
where.”

Roddick joined five other
American men advancing.
Mardy Fish produced the big-
gest upset, ousting fourth-
seeded Ivan Ljubicic 4-6, 7-6
(7-2), 6-4, 6-4.

“Tt was a great opportunity
to play someone like him, to
show everyone I can play,
that I’m back,” said Fish, who
slumped as low as No. 34] last
year while recovering from
two operations on his left
wrist.

Ljubicic has made first-
round exits at the last two
majors. “When I play ATP
tournaments I feel like No. 4
in the world. Maybe in Grand
Slams I put myself under too
much pressure,” he said.

Joining Fish and Roddick
were Amer Delic, Zack
Fleishman, Vince Spadea and
Sam Querry.

Last year’s finalist Marcos
Baghdatis, No. 7 Tommy
Robredo, No. 9 Mario Ancic
and No. 18 Richard Gasquet
all advanced along with for-
mer No. l-ranked Juan Carlos
Ferrero, who played only
three games before his first-
round rival retired.

Among the women, Rus-
sians Svetlana Kuznetsova,
seeded third, and Elena
Dementieva, seeded seventh,
advanced along with French
Open semifinalist Nicole Vai-
disova and No. 1] Jelena Jan-
kovic of Serbia.

Serbian and Croatian fans |

clashed inside Melbourne
Park on Monday, with police
and private security guards
ejecting 150 people.

Rival spectators wearing
national colors kicked each
other and used flag poles as
weapons during brief scuf-
fles, although police said no
injuries were reported and no
arrests were made.

Organizers tightened secu-
rity with Croatia’s Marin
Cilic to play Serbia’s Ilia
Bozoljac today, and said no
strife would be tolerated.

By the time Serena Wil-
liams. got onto Rod Laver
Arena for the first evening
match, all the trouble outside
had been quelled. She had lit-
tle trouble fending off 27th-
seeded Mara Santangelo 6-2,
6-1 despite not being in top
shape. Williams, with seven
Grand Slam singles title,
played only 16 matches last
year and dropped out of the
top 100 for the first time 1997.



|
|
|

|

Lightning extend Islanders’ woes

crossbar with less than a min-
ute to play.

Jovanovski broke a 2-2 tie
with a power-play goal in the
waning seconds of the second
period and then broke a 3-3 tie
with another late in the third.
Third-period goals by Dennis
Wideman and Sejna tied it
again for St. Louis.

e Red Wings 2, Cana-
diens O: In Detroit, Dominik
Hasek made 23 saves to earn

- his sixth shutout this season

and 74th career in Detroit’s
win over Montreal.

Jiri Hudler, and Pavel Dat-
syuk scored for Detroit, which
won its fourth straight.

Hasek, who leads the NHL
with a 1.98 goals-against aver-
age, is one shutout behind
New Jersey’s Martin Brodeur
for tops in the league. But that
wasn’t enough to earn a spot
on the Western Conference
All-Star team.

David Aebischer made 37
saves for Montreal.

Detroit defenseman Chris
Chelios played in his 1,515th
NHL game and moved past
former Red Wings captain
Steve Yzerman into 10th place
on the career list.

e Predators 5, Flames 3:
In Nashville, Tenn., David
Legwand had a goal and two
assists, and Martin Erat had
one of each to lift Nashville to
its sixth straight victory.

Scott Hartnell, Jason Arnott
and Ryan Suter also scored for
Nashville.

Kristian Huselius scored
twice and Daymond Langkow
added a goal for Calgary,
which had a five-game win-
ning streak snapped.



MiamiHerald.com | THE MIAMI HERALD





SOUTHEAST W tL OL SL PTS GF GA HOME ; _ AWAY . DIV
Atlanta . 25 14 6 2 58 144 143 11-5-3-1 14-9-3-1 12-4-4-1
Carolina 24 18 2 3 53 143 142 13-7-0-2 11-11-2-1 11-3-0-1
Tampa Bay 24 21 1 1 50150 147 12-11-0-0 12-10-1-1 10-7-0-0
Washington 19 19 2 5 45 141 157 11-10-1-2 8-9-1-3 6-8-1-1
Florida 17 21 3 6 43135 154 12-8-1-15-13-2-5 =. 3-11-1-0
ATLANTIC WL OL SLPTS GF GA HOME AWAY DIV
New Jersey 27 14 «OF |=-4-)=—-58 119 105 15-4-0-3 12-10-0-1 10-4-0-1
N.Y. Rangers 23.19 3 1 50 139 143 10-9-3-0 13-10-0-1 8-8-0-0
N.Y. Islanders 21 20 2 2 46 131 129 11-9-2-1 10-11-0-1 8-6-2-0
1 Pittsburgh 19 17 3 4 45 134 139 10-8-2-2 9-9-1-2 12-5-1-1
|. Philadelphia 11 30 2 2 26109 174 3-13-2-2 8-17-0-0 3-11-0-2
NORTHEAST W L OL SLPTS GF GA HOME AWAY DIV
Buffalo 31) Tt 2 66 172 133 14-7-1-1 17-4-1-1 8-7-1-1
Montreal 25 16 1 4 55 138 132 14-6-0-3 11-10-1-1 8-5-0-4
Ottawa 26 19 2 O 54 162 134 12-10-1-0 14-9-1-0 11-7-0-0
Boston 21 18 +41 3 46 128 157 13-8-0-2 8-10-1-1 10-7-0-1
Toronto 20 20 2 4 46150 156 10-12-1-2 10-8-1-2 8-8-2-2
WESTERN CONFERENCE
CENTRAL WL OL SLPTS GF GA HOME A
Nashville 32 11 2 1 67 160 117
Detroit 29 12 2 3 63 142 109°
Chicago 17 22 «#1 5 40 112 136
St. Louis 16 21 4 4 40113 144
Columbus 16 24 2 3 37112 140
NORTHWEST W LOL SLPTS GF GA HOME AWAY |
Calgary 24 16 2 2 52 138 115 6-11-2-2 =
Vancouver 25 19' 0 1 51115 117 8-0-0 0-11-0-1 -10-
Minnesota 24 19 O 3 51 131 124 17-4-0-2 7-15-0-1 7-5-0-2
Colorado 22) 19: +2 1 47.140 129 11-10-1-1 11-9-1-0 9-5-1-0
Edmonton 21 20 2 2 46125 132 13-8-1-1 8-12-1-1 7-9-1-0
paciric «WoL OL SLPTS GF GA HOME AWAY DIV
Anaheim 30 9 2 6 68 162 117 16-3-1-4 14-6-1-2 10-3-0-1
San Jose 30 15 O O 60 141 106 15-8-0-0 15-7-0-0 10-8-0-0
Dallas 27: 18 «#40 1 55 123 113 14-8-0-0 13-10-0-1 13-5-0-0
Phoenix 21 22 1 1 44125 153 12-10-1-0 9-12-0-1 6-11-1-1
Los Angeles 16 25 3 3 38133 170 11-10-3-3 5-15-0-0 6-13-0-2

Note: Two points for a win, one point for a tie and overtime loss

RESULTS AND SCHEDULES

Monday’s results Today’s games Sunday’s results

Carolina at Florida, 7:30
L.A. at Atlanta, 7

Tampa Bay 4, Islanders 3 Minn. 4, Chicago 3, SO
Boston 3, Buffalo 2 (SO)
Phoenix 5, St. Louis 4 (SO)
Dallas 3, L.A. 1

Nashville 5, Calgary 3
Detroit 2, Montreal 0
Colorado at S.J., late

Islanders at Pittsburgh, 7
Vanc. at Montreal, 7:30

Col. at Chicago, 7:30

Wash, at Ottawa, 7:30
Toronto at Tampa Bay, 7:30
Rangers at New Jersey, 7:30
Edmonton at Minnesota, 8
St. Louis at Anaheim, 10

BASEBALL

Associated Press

NEW YORK — Dontrelle

Willis got what figures to be
one of several big raises the
Florida Marlins will give out
this winter.

The 2003 NL Rookie of the
Year agreed Monday to a
$6.45 million, one-year con-
tract, an increase of $2.1 mil-
lion.

“?’m very happy,” Willis
said. “How can you not be?
I’m very appreciative to go
out and have the opportunity
to play baseball.”

Willis was married in
December, and his wife is
expecting a girl in May.

“It’s a beautiful thing,” he
said. “It’s something you can’t
fathom, but you’d better get
used to it.”

Willis went 12-12 last year
with a 3.87 ERA in 223 1-3
innings for the Marlins, whose
opening-day payroll was a
major league-low $15 million.
Miguel Cabrera, eligible for
arbitration for the first time,
could. get a raise from
$472,000 to the $6 million
range.

Cabrera and the rest of the
players who haven’t settled
will exchange proposed arbi-
tration figures with their
teams today. Hearings will be
scheduled for next month.

Batting champions Joe
Mauer and Freddy Sanchez,
AL MVP Justin Morneau
and pitcher Carlos Zam-
brano are among those set to
swap figures.

Among the 106 players
who filed, at least nine
reached agreements by Mon-
day night.

First baseman Lyle Over-
bay and Toronto finalized a
$24 million, four-year con-
tract.

“I knew we had a good
thing, a great clubhouse. We
signed Vernon Wells. That
was a big part of it,” said
Overbay, who set career highs
with a .312 average, 22 homers
and 92 RBIs last season.

Wells, Toronto’s Gold
Glove center fielder, agreed
last month to a $126 million,
seven-year extension through
2014. General manager J.P.
Ricciardi also has signed Roy
Halladay, A.J. Burnett, B.J.
Ryan, Troy Glaus and Frank
Thomas to multiyear con-
tracts

' “We think there is a core
nucleus here that is built
really for ’07 to 10,” Ricciardi



Willis gets $6.45 million

JOHN AMIS/AP

HIGH-PRICED MARLIN: Florida Marlins’ Dontrelle Willis
delivers a pitch against the Atlanta Braves during their
Sept. 15 game in Atlanta. He agreed Monday to a
one-year contract with the Marlins worth $6.45 million,
a hefty salary for the team with the lowest payroll in
the major leagues by far last year.

said.

“We're just trying to keep
as good a group together as
we can,” the general manager
added.

Outfielder Jason
Michaels and the Cleveland
Indians reached a preliminary
agreement on a $4.25 million,
two-year contract. Because he
must pass a_ physical,
Michaels will exchange fig-
ures with the team.

Catcher David Ross and
the Cincinnati Reds agreed to
a $4.5 million, two-year con-
tract.

Agreeing to one-year deals
were Los Angeles left-hander
Mark Hendrickson
($2,925,000), Houston
infielder Mike Lamb ($2.7

million),. Philadelphia right-
hander Ryan Madson ($1.1
million), Texas right-hander
Joaquin Benoit ($1.05 mil-
lion); San Diego catcher Josh
Bard ($1.05 million) and
Cleveland reliever Matt
Miller ($560,000).

Among free agents, utility-
man John Mabry agreed to a
minor league contract with
the Colorado Rockies.

Right-handers Aaron Har-
ang and Kyle Lohse also
filed for arbitration last week
and are set to swap proposed
salaries with the Reds today.

Cincinnati also agreed to a
minor league contract with
pitcher Paul Wilson, who
was invited to attend spring
training.
om






SECTION

business@tribunemedia.net

@ By NEIL HARTNELL
Tribune Business Editor

he Bahamas
could boost the
contribution its

financial services .

industry makes to
national gross domestic prod-
uct (GDP) “by 10 per cent
within the next 10 years”, the

Financial Services Consulta-

tive Forum’s chairman said
yesterday, but first needs to
convince its citizens that the

TUESDAY, JANUARY 16, 2007



@ BRIAN MOREE

1

benefits from such an expan-
sion will “trickle down” to
them.

Brian Moree, who is also
senior partner with McKinney,
Bancroft & Hughes, said the
Bahamian financial services
industry was at a crossroads.
He added that both the Gov-

The Tribune

BUSINESS

Miami Herald Business, Stocks, Analysis, Wall Street





ernment and private sector -
and the wider public - needed
to develop a consensus on
what they wanted from the sec-
tor, and the strategies and poli-
cies required to achieve the
ultimate objectives.
Mt Moree asked: “Do we
want to tread water, basically





Dwi



maintaining the current posi-.
tion, of the industry contribut-
ing between 15-20 per cent of
GDP?

“Or do we want to achieve
quantum growth in this indus-

try, where in 10 years we .

increase its contribution to
GDP to 25-30 per cent?



HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE

Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010



- ‘We can boost financial sector’s
GDP share by 10’

a

o in 10 years’

orum chair asks whether Bahamas wants sector to ‘tread water’ or raise GDP
contribution to 25-30%; says Bahamians must be convinced of benefits first —

“I think we can have this
rate of growth without having
to spend hundreds of millions
of dollars. L.réally think this
industry, while it has served
our country extremely well and

SEE page 8B

Travel agents ‘confused’ Auditors question Freeport Concrete as ‘going concern’
on Baha Mar hotels — og, |

@ By CARA BRENNEN
BETHEL nite
Tribune Business
Reporter at the 2007

. Caribbean Marketplace
conference =e

ARUBA — Developers

behind the $2 billion Baha

Mar investment at Cable.
Beach need to do: more to’;

generate “some excitement
for the resort”, a travel indus-
try chief said yesterday.
John Hanratty, chief mar-
keting officer at one of the

US’ largest tour operators, .

Travel Impressions, said the
project to revitalise the Cable
Beach Strip had generated
some concerns among travel
agents, who were unsure

$2bn Cable
- Beach project
must generate
‘some excitement’

about how to market the
development.

“There is confusion about
the development that is going
to replace the Radisson and
the other hotels,” he told The
Tribune after a press confer-
ence at Caribbean Market-
place.

SEE page 16B

anole

‘Last 12 months

@.By NEIL HARTNELL
Tribune Business Editor

AUDITORS of Freeport Concrete, the
BISX-listed retailer and concrete pro-
ducer, were yesterday said to have raised
serious questions as to whether the com-
pany was a ‘going concern’, as its current
liabilities exceeded current assets by more
than $1m million at fiscal 2006 year-end.

That was the position on August 31,
2006, and the company has continued in
business since, with its two Freeport-based
Home Centre outlets and concrete plant.

_ However, sources said the company’s
financials, which were firially signed off by
auditors KPMG last week, drew share-
holders’ attention to the fact that based on
current assets and current liabilities,
Freeport Concrete was technically insol-
vent as at the balance sheet date.

It is understood that Freeport Concrete
has sent a letter accompanying its 2006
year-end financial to shareholders, in a
bid to reassure them that results have

2006 year-end liabilities exceed assets by $1m

since picked up.

The Tribune revealed last week that
Freeport Concrete would make an almost
$2 million loss for the year ended on
August 31, 2006, with its gross profit in the
fourth quarter taking a hit from the
delayed opening of its new Home Centre
Superstore on Freeport’s Atlantic Drive.

The loss had.been blamed on “the sig-
nificant costs associated with the transi-
tioning of the company’s stores, and
reduction in inventory value due to obso-
lescence, damage and shrinkage”.

Freeport Concrete, according to

sources, is arguing that the new Home.
Centre store has helped the company-to.

generate an operating profit through

almost the first five months of fiscal 2007.:

In addition, it will not incur all the costs
this fiscal year that were associated with
the new store last year, plus the purchase

® By NEIL HARTNELL
Tribune Business Editor

THE Bahamas could exploit

of additional product and write-downs
largely associated with old inventory.
Meanwhile, The Tribune was told that
the KPMG auditors also drew attention to
the fact that Freeport Concrete was not in
compliance with its banking covenants at ;
the August 31, 2006, balance sheet date.
And the company was also said to have
made no provision in its 2006 results for a
Supreme Court case it is embroiled in
with the Comptroller of Customs and his
department.
The case stems from the Customs
Department’s demand for the payment
of duties; said to be worth some $750,000, *
on the ‘bonded’ goods being displayed on
retail shelves in the new Home Centre.
Sources said Freeport Concrete had

SEE page 7B

Exploit tourism, financial
synergies ‘more effectively’

Forum chair says
Bahamas must market -
structures, not products

asst

. Average Annual aT - Os
Since Inception February 1999

*Stock prices can,go, down as well as up.. Past. performance is no guarantec of future results, Read the Offering Memorandum CRTC AUT bal COKIN COUR ENC

ene ae
Choose Fidelity

*

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the synergies vetween its
tourism and financial services
industries “much more effec-
tively” to grow the latter, the

Financial Services Consultative.

Forum’s chairman told The
Tribune yesterday.

Brian Moree, senior partner
at McKinney, Bancroft &

SEE page 9B

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INTERNATIONAL REALTY

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Financial Centres in the Caribbean: How stiff is the competition?
Find out at The Nassau Conference 2007. ° a



FLNASOAU Delivering Expert
/CONFERENCE February 6,2007

Registration & more information:
nassauconference.com

Sponsors: :
ASSOCIATION OF
THE MIAMI HERALD | MiamiHerald.com

NBA STANDINGS

EASTERN CONFERENCE





SOUTHEAST W L_ Pct. GB L110 Str. Home Away Conf
Orlando 22 16 «4579 - 55 L2 146 8-10 12-9
Washington 21 16 .568 % 6-4 W-1 15-3 6-13 13-9
Miami 17 19 472 4 5-5 W-4 89 9-10 6-10
Atlanta 12 23 .343 8% 3-7 W-2 7-10 5-13 8-14
Charlotte 12 24 333 9 5-5 L-l 7-12 5-12 9-14
ATLANTIC W L_ Pct. GB L10 Str. Home Away Conf
Toronto 18 21 462 - 5-5 W-1 10-6 815 13-8
New Jersey 17 20 .459 - 6-4 W-1 12-10 5-10 13-9
New York 17 22 .436 «1 «5-5 W-1l 10-11 7-11 10-13
Boston 12 25 324 5 2-8 L-5 4-13 8-12 8-16
Philadelphia 10 28 .263 7% 3-7 L2 5-9 5-19 7-16
CENTRAL Wet _ Pct. GB Li0 Str. Home Away Conf
Cleveland 23 13 689 - 82 W-1 15-3 8-10 15-10
Detroit 21:15 «583 2 3-7 Ll 10-7 11-8 15-8
Chicago 22:17 564 2% 5-5 W-2 17-5 5-12 17-7
Indiana 20 18 526 4 55 L2 10-6 10-12 15-10
Milwaukee 17 20 .459 6% 4-6 W-l 9-6 814 7-15

WESTERN CONFERENCE





SOUTHWEST Ww lL. Pct. GB L10 Str. Home Away — _Conf
Dallas 31 8 795 - 9-1 W-4 17-3 14-5 21-6
San Antonio 27 12 «+6692 4 «66-4. L-l 14-6 13-6 18-7
Houston 25 13 + .658 5% 9-1 W-4 13-3 12-10 13-11
New Orleans 14 22 .38915% 3-7 W-2 8-10 6-12 6-16
Memphis 9 29 .23721% 3-7 L-2 7-12 2-17 4-16
NORTHWEST WL Pct. GB 10 Str. Home Away Cont
Utah 24 14 6632 - 4-6 L-4 14-4 10-10 16-8
Minnesota 20 16 .556 3 82 W-3 12-6 8-10 11-10
Denver 18 17 .514 4% 3-7 W-1 10-10 8-7 6-11
Portland 15 24 .385 9% 2-8 L-1 8-12 7-12 10-12
Seattle 14 25 .35910% 2-8 W-1 10-9 4-16 6-15
PACIFIC WL Pet GB 110 Str. Home Away Conf
Phoenix 28 8 778 - 9-1 W-9 17-3) 11-5 12-7
LA. Lakers 24 13 649 4% 64 W-1 17-4 7-9 15-7
Golden State 19 20 .48710% 5-5 W-1 15-7 4-13 13-13
LA. Clippers 17 21) «4.447 «12)«5-5 «OL-2) 12-7 5-14 11-16
Sacramento 14 21 + .40013% 3-7 L-6 10-11 4-10 8-15
RESULTS AND SCHEDULES
Monday’s results Tonight’s games Sunday’s results

Miami at Lakrs, late
Wash. 114, Utah 111
N.Y. 102, Sacramento 97
Milwaukee 99, Char. 91
Atlanta 100, Boston 96
Chicago 99, S.A. 87
Toronto 104, Phil. 86
NJ. 105, Indiana 95
Minn. 94, Detroit 90 (OT)
G.S. 108, Clippers 93
Pho. at Mem., late

Orl. vs. N.O. at Ok., 8
Hou. at Dal., 8:30
Cle. at Sea., 10

Dallas 97, Toronto 96
Denver 109, Portland 93

SPORTS ROUNDUP

Hall sets a
record in
marathon

Associated-Press

HOUSTON — For-
mer Stanford star Ryan
Hall set a North Ameri-
can record in the
Aramco Half Marathon
and USA Half Marathon
championship on Sun-
day.
The 24-year-old from
Mammoth Lakes, Calif.,
won in 59 minutes, 43
seconds to best the
1:00:55 that Mark Curp
ran in Philadelphia in
1985.

Feyisa Tusse took
home the men’s title in
the Chevron Houston
Marathon and Dire
Tune captured the
women’s race.

Tusse, a 23-year-old
from West Chester, Pa.,
finished in 2:11:39.

Tune, also from West
Chester, set a course
record in 2:26:52.

Elva Dryer, 35, of
Gunnison, Colo., won
the women’s half-mara-
thon in 1:11:42.

ELSEWHERE

e Yachting:
Defending America’s
Cup champion owner
Ernesto Bertarelli
sailed Alinghi to second-
and first-place finishes
Monday, taking the lead
in the Farr 40 class at
the Key West 2007
regatta.

“As usual in this
sport, the team that
makes the fewest mis-
takes tends to win.
Alinghi is awesome in
that regard,” said John
Demourkas, skipper of
second-place Farr 40
Groovederci.

“Their tacks are
crisp, their mark-round-
ings are sharp and that
ultimately grinds you
down,” said Demourkas,
of Santa Barbara, Calif.

The five-day regatta
off the Florida Keys con-
cludes Friday.

e Car racing: Jean-
Louis Schlesser of
France won. the ninth
stage of the Dakar Rally
in Nema, Mauritania,
while Stephane Peter-
hansel took the overall
lead.

Schlesser, driving a
Schles-Ford-Raid, fin-
ished the 307-mile trek
from Tichit to Nema in 5
hours, 32 minutes, 3 sec-
onds.

He was 13 seconds
ahead of defending
champion Luc Alphand
and 4:14 ahead of Peter-
hansel, who both drove
a Mitsubishi.

Giniel de Villiers of

‘South Africa, who cap-
‘tured the eighth stage

and was the overall
leader, had an engine
fire a quarter of the way
through and was towed
to the finish.

The 15-stage race
ends Sunday in Dakar,

Senegal.
e Cycling: The
DNA of former Tour de

France winner Jan UIl-
rich could be compared
to blood samples seized
in the Spanish doping
investigation.

Bonn district attor-
ney Fred Apostel said

- Monday: that Spanish

authorities have agreed
to hand over one of the
bags of frozen blood
found in last April’s raid
on a Madrid clinic
linked to alleged doping
of up to 57 cyclists.

Ulirich and Italy’s
Ivan Basso were
among the riders barred
from last year’s Tour de
France.

“We will have the
blood bag out of Spain
very soon — it could be
next week or the start of
February,” Apostel said.

Ullrich provided a
saliva sample in Septem-
ber, according to Ger-
man media reports.

But Ullrich’s attor-
neys could refuse to let
the cyclist’s saliva sam-
ple be compared.

And court proceed-
ings, including an UII-
rich appeal, could delay
the testing.

“In a worst-case sce-
nario, that could take

‘two years,” Apostel said.

e Obituary: Jules
S. Bacon, who won the
Mr. America bodybuild-
ing competition in 1943,
has died at 89.



|





PRO BASKETBALL | ETC.

NBA | DETROIT PISTONS

Webber to return

BY LARRY LAGE
Associated Press ;

AUBURN HILLS, Mich. —
Chris Webber will sign with the
Detroit Pistons, returning to the
area where he starred in college
and was tarnished in a booster
scandal.

The five-time All-Star was
waived by the Philadelphia 76ers
last week. He becomes an unre-
stricted free agent after clearing
waivers today, freeing him to
sign a new deal.

“Joining the Pistons will allow
me the opportunity to play the
game I love in my hometown of
Detroit surrounded by my fam-
ily,” Webber said in a statement
Monday.

Webber watched the Pistons
play the Minnesota Timber-
wolves with his father, Mayce, in
front-row seats at The Palace
and was greeted by a standing
ovation late in the first quarter.

“We think Chris is going to be
a great fit for the way we play,”
Detroit coach Flip Saunders said
Monday.

“The guys are excited, I’m
excited and the town’s going to
be excited,” Saunders added.

The 76ers cut ties Thursday
with Webber by buying out the
final 1% years of his contract,
which called for him to make
nearly $21 million this season and
$22 million next year.

Webber is coming back to
familiar territory. He was born in
Detroit and was one of the
nation’s outstanding college
players at Michigan, leading to
him being the No. 1 pick overall
in 1993.

His accomplishments, how-
ever, were clouded by his ties to
a booster that resulted in federal
charges against him and NCAA
sanctions against the university.

Webber, who was regularly
booed at The Palace before Mon-
day, wants.to contribute to a con-
tender, and Detroit gives him a
chance to do that.

“I look forward to joining a
roster of talented athletes and
working towards a fourth NBA
title for the Pistons and the great
city of Detroit,” he said.

Webber, 6-foot-10, could start
at center next to power forward
Rasheed Wallace. The Pistons
have the second-best record in





the Eastern Conference and are
the first team since the early
1990s to advance to four straight
conference championships.

Center Nazr Mohammed, who
lost his starting job last week,
said he wants out if the Webber
acquisition leads to him being
used even less off the bench.

“1m not the type of guy that
can sit on the bench happy. I
came here to play,” said Moham-
med, who came to Detroit as a
free agent last summer after Ben
Wallace left for Chicago. “If ’m
not in the plan, I would ask for a

trade.”

Webber missed ll of the last 14
games, officially with foot and
ankle injuries, in Philadelphia.
But the 33-year-old player had
become frustrated with his
reduced role on a team with the

INTERNATIONAL EDITION

TUESDAY, JANUARY 16, 2007 | SE





BY DUANEBURLESON/AP

PRODIGAL SON: Chris
Webber, above left, sits
with his father, Mayce,
during the Detroit
Pistons game against
the Minnesota
Timberwolves on
Monday in Auburn Hills,
Mich. At left, a Pistons
fan shows her
appreciation for the
hometown hero.

second-poorest record in the
league. He averaged ll points and
8.3 rebounds in 18 games.

Webber has career averages
of 21.4 points and 10 rebounds
and in his prime, he was one of
the NBA’s ‘top players. Sacra-
mento gave him a $123 million,
seven-year contract in the sum-
mer of 2001. ;

Last season, Webber proved,
he could still produce. He aver-
aged 20.2 points and 9.9

rebounds in 75 games — the most

he played since the 1999-00 sea-

son with the Kings. Webber said.
in training camp he was feeling

as strong physically as he had
since surgery on his left knee in
2003.

Webber has learned to play
without the eye-popping explo-
siveness of his prep and college

home

days. He won state high school
titles at Detroit Country Day and
led Michigan’s Fab Five” to
NCAA championship games in
1992 and 1993.

But he is vilified by some for
his involvement with deceased
Michigan booster Ed Martin.
Webber was booed when intro-
duced before a playoff game.
against the Pistons two years
ago, but not as loudly as in previ-
ous Visits. —

Michigan took down the ban-
ners Webber helped the Wolver-
ines earn as part of its punish-
ment and removed his name and
likeness from its media guide and
basketball arena. In 2003, the
NCAA also forced the school to
dissociate itself for 10 years from
Webber and the other former
players involved in the scandal:
Maurice Taylor, Robert Traylor
and Louis Bullock.

“All of that hurt,” Webber told
The Associated Press two years
ago. “But I still love the Univer-
sity of Michigan.”

Webber pleaded guilty to a

federal criminal contempt charge

in July 2003, a day before jury
selection was scheduled to start
for his trial on a perjury charge.
He was ordered in 2005 to pay a
$100,000 fine after he completed
330 hours of community service.
‘Webber acknowledged lying
to a grand jury in 2000, when he
said he didn’t recall giving
money to Martin. Webber also
admitted that he gave Martin
about $38,000 in cash in 1994 as
partial repayment for expendi-
tures Martin made on his behalf.
Martin, who died in 2003 at
69, pleaded guilty in 2002 to con-
spiracy to launder money and
told federal prosecutors he took
gambling money, combined it
with other funds and lent
$616,000 to Webber and three
other Michigan players. Martin
said he gave Webber and his
family $280,000 from 1988-93, a

“period extending from his fresh-
Ian year in high school through

his sophomore season with the

“Wolverines.

Because of NCAA violations
connected to the case, Michigan
was not eligible for postseason
play for two years, lost scholar-
ships and was placed on proba-
tion.

PRO BASKETBALL

Bulls run past Spurs 99-87

From Miami Herald Wire Services

CHICAGO — Kirk Hinrich had 23 points
and 10 rebounds and Ben Gordon scored 20
to lead the short-handed Chicago Bulls past
the San Antonio Spurs 99-87 on Monday
afternoon.

Tim Duncan had 21 points and 16
rebounds for the Spurs, who had a four-game
winning streak snapped. Manu Ginobili
scored 22 for San Antonio.

The Bulls played without Chris Duhon
and Ben Wallace. Duhon was suspended for
one game for missing practice on Sunday and
Wallace missed his second consecutive game
because of a sore back.

SUNS 137, GRIZZLIES 122

MEMPHIS, Tenn. — Amare Stoudemire
scored a season-high 42 points and grabbed
nine rebounds to lead the Suns.

Stoudemire shot 15-of-21 from the field
and 12-of-13 from the line as six Suns finished
in double figures.

KNICKS 102, KINGS 97

NEW YORK — Jamal Crawford, back in a
reserve role, scored eight of his 10 points in
the final 1:07 as the Knicks handed the Kings
their season-high sixth consecutive loss.

Stephon Marbury scored 25 points and
Eddy Curry added 24 points and 10 rebounds
for the Knicks, who won for the fourth time
in five games. David Lee finished with 15
points and 12 boards.

Kevin Martin scored 30 points for Sacra-
mento.

BUCKS 99, BOBCATS 91

CHARLOTTE, N.C. — Earl Boykins
scored 30 points and Andrew Bogut added a
career-high 27 points and 11 rebounds to lead
the banged-up Bucks.

The Bucks, minus four starters, snapped a
five-game losing streak behind the 5-foot-5
Boykins, acquired from Denver last week.

Boykins’ 3-pointer with 4 minutes left
snapped a tie and put Milwaukee ahead to
stay. His shot in the lane with 1:46 left gave
the Bucks a 94-88 lead.

Matt Carroll scored 22 points, all but two
in the first half for Charlotte.

T’WOLVES 94, PISTONS 90 (OT)
AUBURN HILLS, Mich. — Kevin Garnett



NAM Y. HUH/AP
AN EASY BUCKET: Bulls forward Tyrus
Thomas throws down two points while
Spurs forwards Robert Horry, left, and
Tim Duncan can only watch Monday.

had 19 points and 14 rebounds, Ricky Davis
scored 21 and Mark Blount made a key
3-pointer to give the Timberwolves the over-

' time victory.

Blount’s 3-pointer — just his fourth of the
year — beat the shot clock with 12.8 seconds
left to give Minnesota a 92-88 lead.

Richard Hamilton, who scored 32 points,
made two free throws on the ensuing posses-
sion to pull the Pistons within two before
Garnett sealed the victory at the line.

NETS 105, PACERS 95

EAST RUTHERFORD, N.J. — Vince
Carter scored 31 points, Jason Kidd added 19
and narrowly missed his second triple-dou-
ble in three games and New Jersey defeated
Indiana.

With Toronto’s 104-86 victory over Phila-
delphia on Monday afternoon, New Jersey
remained percentage points behind the first-
place Raptors in the Atlantic Division.

Al Harrington led Indiana with 18 points.

HAWKS 100, CELTICS 96

ATLANTA — Atlanta recovered after
blowing a 14-point lead and beat Boston, giv-
ing the Hawks back-to-back victories for the
first time since the first month of the season.

Atlanta’s Josh Childress blocked a 3-point
attempt by Gerald Green with 3.9 seconds
remaining, and Zaza Pachulia made two free

. throws with 2.1 seconds left to preserve the

victory.

RAPTORS 104, 76ERS 86

PHILADELPHIA — Chris Bosh scored 27
points and Joey Graham had 18 to lead the
Raptors.

Anthony Parker scored 18 points, and T.J.
Ford had 13 points and 10 assists for the Rap-
tors, who used a pair of 14-0 runs to make
easy work of the worst team in the Eastern
Conference.

Andre Iguodala led the Sixers with 15
points, and Samuel Dalembert and Willie
Green each scored 13.

WARRIORS 108, CLIPPERS 93

OAKLAND, Calif. — Baron Davis had 19
points, 13 assists and keyed a big fourth-quar-
ter run that led the Warriors over the Clip-
pers.

Davis, who shot just 4-for-18 from the
field, had four points, two assists and a big
steal during the 19-2 run that gave the, War-
riors a 100-85 lead midway through the
fourth quarter and helped them snap a three-
game losing streak.

ELSEWHERE

e Grizzlies: The deadline passed Mon-
day for a potential ownership group led by
former Duke players Brian Davis and Chris-
tian Laettner to purchase control of the Griz-
zlies, and Michael Heisley, the team’s major-
ity owner, said he’s open to other offers.

LATE SUNDAY

e Nuggets 109, Trail Blazers 93: Allen
Iverson scored 32 points and Steve Blake
added a career-high 25 to lead visiting Den-
ver. Iverson added nine assists for the Nug-
gets, who trailed at halftime but outscored
the Blazers 41-17 in the third quarter. The vic-
tory snapped a two-game skid for Denver.
PAGE 12B, TUESDAY, JANUARY 16, 2007

7. Related party transactions

During 2004, a director and a company related to this director granted two loans to
the Company totalling B$238,675. The loans incur interest at 9% per annum and are
repayable in 5 years with monthly instalments of B$4,955 including interest and are
included in the balance sheet as long-term debt. Refer to note 11.

Directors of the Company and their immediate relatives control approximately 43%
(2005: 43%) of the voting shares of the Company.

The Company rents administrative office space from a related party as described in
note 14 (a) “Administrative offices”.

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

enn CENCE

7. Related party transactions, continued
As more fully described in note 14 (a) “New Home Centre Lease”, the Company
entered into a lease agreement in July 2005 with a company related to the founding
shareholder, in respect of the premises to where the Company relocated its retail
operations in August 2006.
The Company used the services of H&F Babak Construction Company Limited to
complete certain leasehold improvements. These leasehold improvements are
included in property, plant and equipment in note 8. This company was owned by the
founding shareholder as of the balance sheet date. Payments for such services —
amounted to B$441,976 (2005: B$74,595).

Sales to entities related to the founding shareholder during the year ended August
a 31, 2006 amounted to B$976,122.

H Total executive remuneration including employee benefits and commissions
N amounted to B$248,600 (2005: ‘B$602,194) and is included in the statement of
| operations in payroll related costs.

An executive officer of RH was paid a commission of 3% of sales made by RH which
amounted to B$Nil (2005: B$245,085) and is included in the executive remuneration
shown above.

Directors and non-executive officers fees included in other operating costs in the
statement of operations amounted to B$35,000 (2005: B$35,000).

A Company owned by the founding shareholder has provided security up to
B$250,000 for the Company's bank loan and overdraft. The security includes two
parcels of beach front property located in Freeport Lucaya.

As of August 31, 2006, trade receivables due from related parties amounted to
B$411,154 (2005: B$58,759). These amounts are due from H&F Babak -
Construction Company Limited.

Freeport Concrete Company Limited
Notes to Financial Statements, Continued :

Year ended August 31, 2006
(Expressed in Bahamian dollars)

NY
8.. Property, plant and equipment

Cost/valuation:

2005 Additions Disposals 2006

Land (at directors’ valuation) B$ 1,521,000 - - 1,521,000
Plant 734,879 33,045 - 767,924
Heavy equipment 1,000,367 31,117 577 1,030,907
Automobiles 326,324 91,154 54,969 362,509
Trailers and security booth 77,301 3,923 - 81,224
- Store furniture and equipment 361,720 130,034 - 491,754
Office furniture and equipment 159,667 101,870 320 261,217
Leasehold improvements 363,783 582,962 = 946,745

BS 4,545,041 974,105 55,866 . §,463,280

* Accumulated depreciation:

Depreciation

2005 charge — Disposals 2006
Plant BS 510,780 28,763 - 539,543
Heavy equipment : 514,388 . 168,776 - 683,164
Automobiles . 144,101 62,036 45,344 160,793
Trailers and security booth 23,364 12,357 - 35,721
Store furniture and equipment 212,133 51,993 - 264,126
Office furniture and equipment 96,081 50,780 - 146,861
Leasehold improvements . 47,192 198,648 - 245,840

BS 1,548,039 $73,353 45,344 2,076,048

Net book value:

2006 2005

Land B$ 1,521,000 1,521,000
Plant 228,381 224,099
Heavy equipment. : 347,743 485,979
Automobiles 201,716 182,223
Trailers and security boots : 45,503 53,937
Store furniture and equipment 227,628 149,587
Office furniture and equipment 114,356 63,586
Leasehold improvements ; . 700,905 316,591
B$ 3,387,232 2,997,002

The directors’ valuation of land is based on an appraisal as of March 29, 2005 by Mr.
Bert E. Lightbourne, Member of The Bahamas Real Estate Association and the
American Society of Professional Real Estate Appraisers, of Freeport, Grand
Bahama, of the market value of the land. The excess of this valuation over the cost of
the land is reflected as “appraisal excess” in the balance sheet. The land comprises
126.75 acres located in the East Airport Zone of Freeport, Grand Bahama, and is
intended to be used by the Company for future quarrying operations. The carrying
value of land had it not been appraised would be B$87,133.

During 2002, the Company acquired a used portable concrete batch plant from the
founding shareholder. The plant was not in use during the year and has a carrying
value at August 31, 2006 of B$17,683 (2005: B$22,019).

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

LS

8. Property, plant and equipment, continued

Depreciation expense on certain plant assets and equipment amounting to
B$244,342 (2005: B$230,373) has been included in cost of sales.

As described in note 13, certain of the Company's property, plant and equipment with
a net book value of B$475,595 were damaged by hurricanes and fire in the prior year
and have been recognised as an impairment loss in the 2005. statement of
operations.

9. Bank overdraft

The bank overdraft bears interest at 7.5% (2005: 7.5%) per annum and is secured as
described in note 11. The overdraft facility limit is B$1,770,000 (2005: B$1,000,000).

10. Accounts payable and accrued expenses

Accounts payable and accrued expenses comprise the following:

: :

2006 2005



Accounts payable B$ 2,999,650 2,170;785
Accrued expenses 734,977 621,131.

B$ 3,734,627 ~ § 2,791,916

a SE

11. Long term debt

pe SS



2006 ~ 2005
Bank loan : BS 471,148 497,598. ..°
Loan from related party -153,015 196,413
624,163 694,011
‘Less: current portion (183,710) (177,788)
BS 440,453 516,223

The bank loan bears interest at B$ prime rate plus 2.75% (8.25% at August 31,
2006) and is repayable by June 2012 with monthly instalments of B$14,140 including
interest. The bank loan and overdraft facility are with the same bank. The bank loan
and overdraft are secured by a first floating charge debenture stamped for
B$2,640,000 over the Company's land and all of its business assets. A Company
owned by the founding shareholder has provided security up to B$250,000 for the
Company's bank loan and overdraft. The security includes two parcels of beach
front property located in Freeport, Lucaya.

As described in note 14 (e), as of August 31, 2006, the Company was not in
compliance with various debt covenants relating to its bank loan and overdraft.

The loan from related party as more fully described in note 7, bears interest at 9%
per annum, is unsecured and is repayable in 5 years with monthly instalments of
B$4,955 including interest.

THE TRIBUNE BUSINESS

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006

(Expressed in Bahamian dollars)

II

12. Sale of investment in RH

On August 16, 2005, the Company entered into an agreement to sell its 90%
shareholding interest in RH. The effective date for the sale was August 31, 2005.

The sales price for the shares was B$571,500, and a total of 70% of the shares in
RH were sold to an executive and an employee of RH.

As part of the transaction to sell the RH shares, the Company agreed to forgive
repayment of B$836,221 of the B$1,414,721 debt due by RH to the Company as of
August 31, 2005. Accordingly, the balance due to the Company by RH at August 31,
2005 was B$578,500.

The net effect of these transactions is as follows: ;
2005





Sales price of RH shares BS 571,500
Carrying value of investment in RH at August 31, 2005
(net shareholders deficit) before forgiveness
of debt of B$836,221 due to the Company by RH 884,900
: 1,456,400
Receivable due to the Company by RH forgiven at August 31, 2005 (836,221)
Net:gain on sale of RH BS 620,179

The net carrying value of RH’s assets and liabilities at August 31, 2005 (net
shareholders deficit of RH) after forgiveness of debt of B$836,221 due to the

Company by RH was as follows:
2005





Cash BS 16,158
Time deposit 20,000
Accounts receivable, net 449,910
Inventories 1,322,413
Inventory of spare part and supplies 23,579
Deposits and prepayments 17,332
Property, plant and equipment 276,136
Accounts payable and accrued (1,576,249)
Warranty provision (19,458)
Due to the Company : (578,500)
BS (48,679)

ee

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August.31, 2006
(Expressed in Bahamian dollars)

ee

13. Insurance proceeds and impairment of assets

In September 2004 certain of the Company's inventory and property, plant and
equipment (PP&E”) were. damaged by hurricanes. As a result, management has
estimated the net book value of inventory damaged to be approximately B$1,263,610
and the net book value of the portions of the PP&E that were damaged to be
approximately B$471,669. These amounts have been recognised as a-loss and are
shown under inventory damaged by hurricanes and impairment of PP&E,
respectively in the statement of operations. The Company filed a claim with their
insurers which was settled and collected in full by December 2004. The amount
received net of the deductible was B$1,183,610 and B$114,939 for inventory and
P,P&E, respectively and is included in the statement of operations as insurance
proceeds.

in December 2004, the Company's concrete plant and office was damaged by a fire.
As a result, management has estimated the net book value of the portions of the
P,P&E that were damaged to be approximately B$3,926. These amounts have been
recognised as an impairment loss and are included in impairment of PP&E in the
statement of operations.. The Company filed a claim with their insurers which was
settled and collected in full by December 2004. The amount received was B$178,188
and is included in the statement of operations as insurance proceeds.

(a) Leases

Ready-mixed concrete operations

The Company was party to an agreement to lease approximately 25 acres of
land in the Heavy Industrial Area of Freeport for a 7% year period. Certain
limestone rock dredged from the Freeport Harbour has been deposited on this
land. The lease agreement expired on December 31, 2001. No new written
agreement has been executed between the Company and the landlord, however,
the Company continues to use the premises on a month to month basis.

The Company has received verbal assurance that they can continue to occupy
the land under similar terms of the old lease agreement. The Company intends to
re-locate its operations to premises of Bahama Rock Limited (“BRL”) and has
signed a lease for this purpose, as described in the “Lease agreement with BRL”
section below.

This limestone rock was used by the Company to produce sand and aggregate
which it uses to produce ready-mixed concrete. The rent payable is B$0.25 per
cubic yard of limestone rock utilised by the Company but in no event shall the
quarterly rent be less than B$2,000. Under the agreement referred to in the
preceding paragraphs, the Company is also required to pay B$2.25 per cubic
yard of limestone rock utilised with a minimum of B$18,000 per quarter. During
the prior year the Company ceased producing sand and aggregate and instead
purchased these materials from third parties.

Freeport Concrete Company Limited

Notes to Financial Statements, Continued

Year ended August 31, 2006
(Expressed in Bahamian dollars)

8

ce

14. Commitments and contingencies, continued
(a) Leases, continued

Lease agreement with BRL

On May 9, 2005, the Company signed a 10 year renewable lease agreement
with BRL with an intention of moving its concrete plant operations and to
commence a block plant. At August 31, 2006, the Company had commenced its
block plant at the said premises and are yet to re-locate their concrete plant.

Under the lease agreement, the Company is committed to purchase all.
aggregate products needed for production of ready mixed cement and blocks
from BRL.

Rent is payable at a base rate of $1 per annum in advance commencing on June
1, 2006. In addition, the Company will pay BRL an annual license fee of
B$7,500.

Hardware and consumer products operations

In August 2001, the Company entered into a lease agreement whereby it agreed
to lease the premises for its retail merchandising operation on Peel Street in
Freeport, Grand Bahama for a period of 10 years with an option to renew for
another 10 years. The Company was granted the option to purchase the
premises. The option is exercisable on August 15, 2005 and at the end of every
twelve month period thereafter during the continuation of the lease. The
purchase price is to be B$3.5 million less 2% per annum starting from June 1,
1998. The Company has assigned this option to a shareholder.

The lease called for monthly lease payments with adjustments annually to reflect
the increase and decrease in the annual average of the United States Consumer
Price Index All Urban Consumers, US City Average for the preceding twelve
months but in no event to be less than B$306,000 per annum.

These premises were severely damaged by the hurricanes in September 2004
and it was agreed with the landlord to terminate the lease effective June 30,
2005. A new lease for the same premises was entered into from July 1, 2005 to
April 30, 2006 for $20,000 per month. Effective from May 1, 2006, it was agreed
with the landlord that the lease would be extended to August 31, 2006 at a rate
of $50,000 per month, and the Company can continue to occupy the premises
with no further liability from September 1, 2006 to December 31, 2006. The
Company agreed to vacate the premises effective December 31, 2006. Rent
expense incurred during the current year on this lease amounted to B$360,000
(2005: B$101,789)


PAGE 14B, TUESDAY, JANUARY 16, 2007



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