Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item
Resource Identifier:
09994850 ( OCLC )
9994850 ( OCLC )
UF00084249_02848 ( sobekcm )

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Full Text
=m Lhe Tribune =



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Volume: 103 No.99





Resort acquired 144
Crown Land acres

SEE FRONT PAGE OF BUSINESS SECTION

——« Che Miami Herald

BAHAMAS EDITION

TUESDAY, MARCH 20, 2007






Country moves one
step closer to election

@ By KARIN HERIG
and BRENT DEAN
Tribune Staff Reporters

PRIME Minister Perry
Christie yesterday finally tabled
the Boundaries Commission
report and the draft order to
create new and reshaped con-
stituencies, thereby moving the
country one step closer to the
general election.

Addressing parliament yes-
terday morning, Mr Christie
said that the Boundaries Com-
mission has recommended that
the Bahamas be divided into 41
constituencies — 25 in New
Providence, six in Grand
Bahama and ten in the ney
Islands.

At this time, each con-
stituency has an average of
about 3,600 registered voters.

As previously reported by
The Tribune, Mr Christie yes-
terday said that the Commis-
sion has also recommended the
elimination of St Margaret’s,
Delaporte and the Adelaide
constituencies.

“The Delaporte and Ade-
laide constituencies have been

reconstituted to the new con-
stituencies of Clifton, Killarney
and part of Golden Isles respec-
tively.

“The reconstitution creates a
new seat in the southwest part
of New Providence to take into
account the shift of the popula-
tion to southwest New Provi-
dence,” the prime minister said.

Mr Christie explained that a
shift in population is also the
premise for the elimination of
the St Margaret’s constituency,
resulting in the reconstitution
of the Montagu constituency
into the St Anne’s and the Mon-
tagu constituencies.

In addition to these changes
the constituencies of Holy Cross
and Farm Road, the prime min-
ister’s seat, also had name
changes.

The Farm Road constituen-
cy has been renamed Farm
Road and Centreville.

“This name more accurately
reflects the inclusion of tradi-
tional and historic communities
within its boundaries,” Mr
Christie said.

SEE page nine

Brent Symonette ‘refused to sign
Boundaries Commission report’

@ By KARIN HERIG
and BRENT STUBBS
Tribune Staff Reporters



FNM deputy leader Brent Symonette refused to sign the Bound-
aries Commission report as a means of expressing his “disgust” with
government’s complete refusal to compromise on any point, leader
of the FNM Hubert Ingraham said yesterday.

Speaking with The Tribune yesterday at the House of Assembly,
Mr Ingraham said that Mr Symonette had very valid reasons not to

SEE page 12

LCC pein GCs

Smellthe garlic

iLook at all that cheese--
Biche Gee. CCUG QOregane

Limited Time Offer.





@ A FIREFIGHTER

tackles the huge blaze
(Photo: Felipé Major/

Tribune staff)

LOCAL firefighters,
as well as auxiliary per-
sonnel, were called to the
scene of a massive fire
that destroyed Tops
Lumber Yard on Wilton
Street Monday and was
still raging late into the
afternoon.

The loss is estimated
in the millions of dollars.
When the Tribune spoke
with police press liaison
officer Walter Evans yes-
terday afternoon, the
fire, although still burn-
ing, had been contained.
Mr Evans said the fire
was reported shortly
after midnight on Sun-

day.

“The fire is still burn-
ing on the inside, but it
has been contained. To
complete the operatinn,
officers will still be
deployed there,” Mr
Evans said. This means

SEE page 12




























BDM pledges to stand








up to gerrymandering |

@ By ALEXANDRIO
MORLEY
Tribune Staff Reporter

THE Bahamas Democratic
Movement pledged to stand up
against the “evils” of gerryman-

dering at a press conference held

yesterday in front of the House
ot Assembly.

The young political party said
that gerrymandering is being
practised by men desperate for
political power. They accused
the PLP government of partici-
pating in the practice.

This is the second time that
the BDM has criticised a gov-
ernment for redistricting the
boundaries of constituencies to
gain an electoral advantage.

On Monday, December 3,
2001, BDM leaders Cassius Stu-
art and Omar Smith dominated
the national news when they
intentionally disrupted the sit-



“Fidelity is wy one stop
for ALL wy financial needs.”

Nassau:

- Gary

ting of the House of Assembly.
Both men charged from the
Public Gallery onto the House

floor and handcuffed themselves:
to the Mace, the symbol of the :
House Speaker's authority. They ;
were protesting the "unfair ger- ;
rymandering of the constituency :
boundaries by the FNM admin-_

istration".

The mace could not be sepa-
rated from the men and the sit-
ting of the House had to be sus-

pended. The two men were
jailed for almost two days, but no

charges were brought against :

them.
Ironically, the BDM's mace

incident was strikingly similar to:
an event referred to as Black :
Tuesday. On that particular day :
— April 15,1965 — then oppo- :

sition leader and former Prime

Minister of the Bahamas, Sir }

SEE page 12

ZERO DOWN LOT LOANS

HOME FOULFY LOATS

MORTGAGE & PERSONAL LOANS
CHECKING & SAVINGS

ACCOM]

an





Sea tragedy
victim claims
govt is not
living up to
responsibility

@ By ALEXANDRIO

MORLEY

Tribune Staff Reporter

A VICTIM of the Sea
Hauler/United Star collision
claims that government is not
living up to its responsibility and
that the Ministry of Social Ser-

vices has not followed through
on its promise to assist his fam-

ily.
Yesterday, Mr Cecil Hart told

SEE page nine

Police Force
restructuring
is officially
announced

@ By KARIN HERIG
Tribune Staff Reporter

THE much speculated restruc- ;

' turing of the top levels of the

Royal Bahamas Police Force was
officially announced yesterday .
and included the establishment
of a new tier of four senior assis-
tant commissioners and the first
appointment of a woman to the
rank of assistant commissioner.

SEE page nine

Sidney Stubbs

won't run as

independent,
will support PLP

@ By KARIN HERIG
Tribune Staff Reporter

HOLY Cross MP Sidney
Stubbs will not be offering as an
independent, but will continue to
support the PLP behind the front
lines of politics, it has emerged.

Refuting speculation that he
may part ways with the PLP after
not being renominated for his
seat, Mr Stubbs yesterday stated
that he will in fact be assisting his
party colleagues in their cam-
paigns leading up to the election.

SEE page nine

Fidelity: More than a Bank

t. 356.7764 @ Freeport: t. 352.6676/7

= ) FIDELITY

AWA Ae Lean AVA DEOL A RETA REY Be

ere i]





PAGE 2, TUESDAY, MARCH 20, 2007

iT a

The ‘torture’ of Sir Lynden
was inflicted by him alone

Pre Minister Perry Christie
predicted that this election cam-
paign would be dirty and it appears that
he knew what he was talking about. Mr
Christie and his colleagues are faced
with a long list of 1 issues that defy con-
vincing response.

For the last five years and from the
very beginning this administration has
stunned the public with one scandal
after another and has limped from crisis
to crisis. From the Korean boats fiasco
right up to the Anna Nicole Smith scan-
dal, Mr Christie and his colleagues have
repeatedly shot themselves in. the foot.

Every government faces challenges
of one sort or another, but what is
important is how the leadership deals
with them. Mr Christie, “as Prime Min-
ister”, has been anything but forthright
and resolute in confronting a long list of
crises.

On top of all this Mr Christie and his
colleagues have with great glee pursued
their “new model” of development for
the country. The centrepiece of that
model is the giveaway of thousands of
acres of public land to foreigners to
develop as residential property for sale
to other foreigners.

In the face of extreme public unease
over this incredibly shortsighted and
misconceived policy, they have not
relented. In the waning months of their

administration they are considering an.

increase in the rate of giveaway from
thousands of acres to tens of thousands
of acres! °

Public anxiety is mounting becduse
people understand that a new govern-
ment can stop the scandals but will find
it difficult, if not impossible, legally to
recover for the Bahamian people much
of the land so recklessly given away.

S"= they are unable to dispose
of the scandals they have them-

selves created, and since blaming others
is not working, Mr Christie and his col-
leagues have resorted to counter attack
in an attempt to throw their opponents
off balance.

FNM Leader Hubert Ingraham has
naturally been the chief target and has
been subjected to a relentless assault.
There is nothing wrong with that except
that some of the abuses and charges
hurled at Mr Ingraham are not based on
fact.

A particularly nasty attack is the
PLP’s radio advertisement which alleges



that Mr Ingraham “tortured” former
Prime Minister, the late Sir Lynden Pin-
dling, through two commissions of
inquiry. The radio ad also seeks to cap-
italise on sympathy for Sir Lynden who,
it alleges, left “with his patriotic heart
broken”.

The PLP has been advised before not
to use Sir Lynden as a campaign prop. It
is better that he be left at rest with the
hope that his positive legacy will loom
large in history. But, as the old people
used to say, “hard-head bird don’t make
good soup”.

It is true that the FNM government
under Prime Minister Ingraham insti-
tuted two commissions of inquiry, but
inasmuch as the results of these were
embarrassing to Sir Lynden, he had only
himself to blame.

The commission of inquiry that was to —
devastate Sir Lynden, tarnish his legacy ©

and ‘expose the shame of a nation mired
in corruption was appointed at his direc-



The commission of inquiry that was
to devastate Sir Lynden, tarnish his
legacy and expose the shame of a
nation mired in corruption was
appointed at his direction; and
Sir Lynden and his government picked

the commissioners.





The first response of Sir Lynden and

his defenders in the

PLP is still quite

familiar today. It was, they said, alla
conspiracy against him and against
The Bahamas on the part of the
Americans, the Opposition and The

Tribune.

tion; and Sir Lynden and his govern-
ment picked the commissioners.

Mr Christie and other members of
the PLP government are quite old
enough to remember all this, but per-
haps they hope to mislead younger
Bahamians who have no memory of
those awful days. °

he trafficking in illegal narcotics

had been a problem in the
Bahamas for years but by the late 1970s
and early 1980s this nefarious business
threatened to consume the country like
a raging fire.

The so-called Colombian cowboys
moved in and with the collaboration of
Bahamian and other recruits operated
throughout these islands, from Abaco to
Inagua. And a vicious lot they were.

One of the biggest drug gangsters in
the world, Carlos Lehder, set up head-
quarters at Norman’s Cay i in the Exu-
mas complete with armed guards, jeeps,
airstrip, sophisticated communications,
guard dogs and helicopters. The Colom-
bians made life difficult for the winter :
residents who maintained homes on the
cay and they left.

The country was awash in drugs and
narco-dollars. A new and unprecedent-
ed era of violent crime and lawlessness
was unleashed on the Bahamas and tra-
ditional values were trampled in the
dust. Many young Bahamians became
victims of drug addiction as some of the
cocaine destined for the United States
found itself on the localnarket.

Promising young lives. were ruined in
an orgy of drug abuse and violence, and
the peace and tranquility of the country
were destroyed. The after-effects of
those days are still very much in evi-
dence today with a kind of criminality
that was previously rare in the Bahamas.

More than a few religious leaders
were sucked into the maelstrom; but
one prominent religious leader in a
touching jeremiad cried out for relief
and complained that the drug culture
was so: pervasive that “somebody in
authority has to know something about
it.”

S omebody knew, of course. Some
heroic Bahamian policemen like

Avery Ferguson and Lawrence Major
were on the frontline being outgunned
by the drug traffickers and betrayed by
Bahamians in high places, but Sir Lyn-
den’s PLP government seemed oblivi-
ous, even complicit.

STORE HOURS:

Monday - Saturday - 8:30am 530m

SII ANE Deere W
STILL ALIVE



The attitude of Sir Lynden was later
summed up in an astonishing statement
to the effect that “It’s an American
problem. Let them clean it up.”

But it was very much a- ‘Bahamian
problem. It was, in fact, the worst peri-
od in the history of the modern
Bahamas and Sir Lynden’s government
did little or nothing to deal with it.

Most Bahamians went on their way as
narco-dollars fuelled an increasingly
acquisitive and ostentatious consumer
culture. But the bodies of dead Bahami-
ans piled up and the number of drug-
ruined lives escalated.

Then on September 5, 1983, Brian
Ross of the NBC television network
blew the lid off the whole sorry mess as
he broadcast allegations of drug cor-
ruption in the Bahamas implicating the
Prime Minister. An enraged Sir Lyn-
‘den flew to New York to confront his
accuser live on television.

The first response of Sir Lynden and
his defenders in the PLP is still quite
familiar today. It was, they said, all a
conspiracy against him and against the
Bahamas on the part of the Americans,
the Opposition and The Tribune.

But things only got worse as the inter-
national press picked up the story.
Screaming headlines spoke of a nation
for sale and made other uncomplimen-
tary references to the Bahamas. The
tragedy is that most of what they had to
say was true.

hat, very briefly, is the back-

ground to Sir Lynden’s deci-
sion to accede to opposition demands
for a commission of inquiry into drug
trafficking through the Bahamas. Sir
Lynden and his government picked the
members of the commission.

That commission sat for a year and
the whole sordid story was revealed.
The commissioners concluded that drug
trafficking had adversely affected almost
all strata of Bahamian society and that
the pervasive corruption reached Cab-
inet level. Sir Lynden himself struggled
to explain large deposits that had been
made to his bank account.

Hubert Ingraham had nothing to do
with any of this, except that later on it
fell to him and.an FNM government to
restore the good name of the Bahamas
in the world, and to begin the task of
national reconstruction.

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

INSIGHT

For the stories
behind the news,
read Insight
on Mondays



THE TRIBUNE

0 In brief

Castro will
be back by
summit, says
Morales

H BOLIVIA
La Paz

BOLIVIAN President Evo
Morales says he. expects Fidel
Castro to return as Cuba's
president in time for an April
28 summit meeting in
Havana, according to Asso-
ciated Press.

Morales, speaking over the
weekend during a meeting of
potato farmers, said at least
six presidents were expected
to attend the summit, includ-
ing Venezuela’s Hugo
Chavez.

“Tt will be the opportunity
to see the return of brother
Fidel Castro to the presiden-
cy of Cuba,” Morales said.

The 80-year-old Castro was
the world's longest-ruling
head of state, occupying the
island's presidency for 47
years before temporarily
stepping aside in favor of his
younger brother, Raul, fol-
lowing emergency intestinal
surgery in July.

Early post-surgery photos
showed him looking sick and
weak, but images on state
television in late January
revealed a stronger and
healthier seeming Castro and
Cuban leaders have given
increasingly upbeat descrip-
tions of his recovery.

Morales, who leads Bolivi-
a’s Movement Toward
Socialism party, has said that
he considers Castro to be a
“wise grandfather” and has
established warm ties with
Cuba.

First luxury
resort in 35
years in
Bermuda

@ BERMUDA
San Juan

A DUBAI government-
held company is. seeking
Bermuda’s approval to build
the wealthy British enclave’s
first new luxury resort in 35
years, according to Associated
Press.

Construction of the high-
end resort by Jumeirah
Group, a hotel operator
owned by state-owned Dubai
Holding, will begin as soon
as final planning approval is
given to the proposed devel-
opment, Cherie Whitter,
director of Bermuda’s
tourism department, said
Thursday.

“It’s been quite a long time
since we’ve had a new pro-
ject,” Whitter said of the hos-
pitality company’s proposed
complex, which would be
named the Jumeirah South-
lands Resort and is expected
to open in mid-2008 on the
south shore of the British
Atlantic territory.

Plans call for the resort to
include 300 suites, five restau-
rants and bars, a spa and bou-
tique shops.

It was not clear how long it
might take to receive
approval.

Whitter said local officials,
including Premier Ewart
Brown, are promoting
Bermuda’s potential to hotel
developers and investors.

“The market is once again
deemed interesting,” she said.





THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 3



ii nee eee
In brief Woman awarded

$211k damages
for disfiguremen

Missing girl |
found safe
and well in
apartment

FREEPORT - The search
for a missing 12-year-old girl
came to an end on Sunday
when police discovered the
child at an apartment in the
Caravel Beach area.

Chief Superintendent Basil
Rahming said that Melissa
Johnson, a resident of No 66,
Coral Reef Estates, had been
reported missing to police by
her mother on March 10.

He said that officers at the
Central Detective Unit
received information that led
them to a Sunset Highway
apartment, where they found
the missing girl in good
health.

Dukes Way, South Bahamia,
told police that her daughter,
Melissa, left home around
8.30am on March 9 for school
at St Georges’ High, but did
not return.

Ms Deveaux said that
Melissa had been released
from the Willamae Pratt
Detention Centre for Girls
last September.

Supt Rahming said Melissa
told police that she had spent

several nights in the care of }

her father, who is estranged
from her mother.

The girl said she had then
been sent to a woman at the
apartment where the police
found her.

Melissa is expected to
appear before the Juvenile
Panel on March 23.

Czech experts
evaluating
Jamaica for
mining —
JAMAICA

Kingston

A TEAM of Czech experts
are evaluating quarries in this
Caribbean nation to help it
improve mining operations
and develop plans for maxi-
mum efficiency, according to
Associated Press.

“We're developing a plan
for our quarries where we’re
going to show people that
you can mine in such a man-
ner that it is attractive and
sustainable,” said Victor
Cummings, minister of state
in Jamaica’s Ministry of Agri-
culture and Lands.

Cummings said he orga-
nized the experts’ visit after
an Official trip to the Czech
Republic where he toured
mined-out quarries devel-
oped as tourist attractions.
“These are some of the same
things that we would like to
do here,” he said March 10 in
the statement.

The Jamaican government
recently hired a consultant to
determine the boundaries of
a jungle territory home to
descendants of freed African
slaves who are fighting plans
for bauxite mining in the
area. The area, called Cock-

pit Country, spans four.

parishes in northwest
Jamaica.

Jamaica is the world’s fifth
largest producer of bauxite,
the principal ore used in alu-

minum.

Barbados
premier
delivers new
budget

®@ BARBADOS
Bridgetown

FUELLING predictions
he is preparing to call early
elections, Barbados Prime
Minister Owen Arthur pro-
posed a budget that he said
would tackle inflation and
ease burdens faced by low-
income families on the
Caribbean island, according
to Associated Press.

Presenting his suggested
budget to the House of
Assembly on Wednesday
night, Arthur said projected
growth gave him room to
propose a budget of 3 billion
Barbados dollars (US$1.5
million), a roughly 3 per cent
increase in spending.

Arthur, who has led Bar-
bados since 1994, pledged
during his televised budget
address that he would create
more affordable housing for
islanders, who have long
complained that spiralling
costs are squeezing them out
of the tropical island’s real
estate market.

Melinda Deveaux, 33, of

A WOMAN who was left
badly disfigured by a post-oper-
ative infection has been award-
ed more than $211,000 damages
against a Bahamian surgeon.

The assessment, which came
after a wait of nearly three
years, was released within hours
of inquiries being made by The
Tribune’s INSIGHT staff.

Siobhan Reilly, a 39-year-old
mother, contacted this newspa-
per as a “last ditch” attempt to
get justice after she won judg-
ment against Dr Philip Thomp-
son in 2004.

She claimed deputy registrar,
Ernie Wallace, had repeatedly
failed to assess damages and
return phone calls since exam-
ining her claims nearly three
years ago.

However, when INSIGHT
spoke to Mr Wallace last Fri-
day, he said the assessment had
been completed and was being
edited. He blamed the long
delay on volume of work,
adding: “It’s nothing more.”

Ms Reilly, a head accountant
at Commonwealth Brewery,
said she was pleased to get the
assessment at last, but was furi-
ous at Mr Wallace’s decision to

Assessment finally obtained
after inquiries by The Tribune



hurriedly release a statement to
another newspaper after The
Tribune’s inquiries.

“I am incensed because this
was obviously done as a counter
measure and proves that the
delay was wrong,” she said.

“In releasing the damages to
another newspaper, he was try-
ing to soften the blow of The
Tribune’s INSIGHT article.”

-She also took exception to
Mr Wallace’s failure to include
specific damages for corrective
surgery, which she said could
be a “significant” amount.

In fact, when she first
inquired about corrective
surgery in Florida five years
ago, the amount quoted was
$30,000. This, she felt, could
have risen by at least another
$20,000 by now.

In recent weeks, Ms Reilly’s
father, motivational speaker D
Paul Reilly, and several friends

and associates had been trying
to put pressure on the courts to
get a result.

But it was INSIGHT’s
inquiries on Friday that appar-
ently triggered an immediate
response.

Mr Wallace told The Tribune
that the assessment would be
ready “by Monday or Tues-
day”, but in fact released them
in a fax to Ms Reilly’s lawyers,
Davis and Co, within an hour
or two of INSIGHT’s
approach.

The damages were awarded
after Dr Thompson, who now
works in Freeport, was found
to be negligent in his care for
Ms Reilly after a cosmetic oper-
ation in March, 1998.

Ms Reilly developed an
infection which left her need-
ing six further operations.
The scarring, she said, left
her looking like “The Bride

Meeting on boundaries




‘Tour company drivers complain

i FNM leader
Hubert |
Ingraham,
Parliamentary
Registrar Earl
Bethel and
Prime Minister
Perry Christie
(Photo:
Franklyn G
Ferguson)

over pay and working conditions

lm By ALISON LOWE
Tribune Staff Reporter

DRIVERS at the Bahamas
Expertence Tour company, a
major tour company contract-
ed by clients such as Atlantis,
have alleged that they are suf-
fering from erratic and difficult
working conditions.

Driving limousines, Escalades
and coaches, the staff members
deal on a regular basis with
“high end” Atlantis customers,
ferrying them to and from their
chosen destinations.

However, the employees
allege that they too are being
“taken for a ride.”

According to a source, the
company pays almost all its
workers around $275 a week.
While the staff do not have a
written contract, the source
admitted, they entered into a
verbal agreement stating that
this would be the amount they
would be paid during a “proba-
tionary period”.

However, no drivers have
since received pay increases,
even up to five years after they
were first hired, in contraven-
tion of that agreement,” he said.

Drivers are in theory required
to work six day weeks. Howev-
er, after six days have passed,
on occasion they are not given a
day off for almost another full
week, as there is no “con-
trolled” day off system, he
added.

Drivers can end up working
13 day stints — being in their
vehicles for anything from six
to 16 hours a day — without a
day off, said the source.

Based on their alleged daily
rate of pay, a 16 hour day would
create a situation where the
employees were being paid less
than minimum wage.

Such is often the case when
an awaited flight is delayed for
many hours, explained the dri-
ver. For these extra hours, they
receive no overtime, he alleged.

Labour law states that an
employer must provide “basic
information” to an employee,

including “the number of hours
of daily work and the hours of
the day at which such work is to
commence and to terminate.”

_ According to the driver, no
employee is able to plan his
time off. When breaks are pro-
vided, they can come on any
day of the week, and at very
short notice, an inconvenient
arrangement for a “family
man”, said the source.

And when “high rollers” and-

celebrity clients — such as bas-
ketball legend and golf enthusi-
ast Michael Jordan, who, along
with many fellow high-end
types, used Bahamas Experi-
ence during a recent celebrity
golf tournament — leave large
tips, the drivers “never see a
dime” he said.

The driver said that it was
understood by he and his col-
leagues that a proportion of a
$50,000 tip left by Mr Jordan
was to passed on to them.

The source, who said he
believes the company is worth
many millions of dollars,
explained how there has never
been a staff meeting at the com-
pany, and as such, no outlet has
been provided for their con-
cerns.

Company owners treat with
drivers with little respect, over-
working them, and even vic-
timising employees if they
“speak out” about conditions,
he claimed.

Seeking redress, a group of
staff members met with Mr
Ernest Burrows at the Labour
Board last Tuesday and raised
their concerns, but have yet to
hear back.

Employees have become
increasingly disturbed by the
conditions while awaiting the
board’s response, said the
employee.

Meanwhile, company execu-
tives met with Atlantis repre-
sentatives, a meeting which the
driver believes was organised
after a story about the driver’s
grievances aired on Cable 12
last week, however no employ-
ees were invited to attend.

Attempts to contact the man-
agement at Bahamas Experi-
ence yesterday were unsuccess-
ful and calls were not returned.

Ernest Burrows at the
Labour Board was also unavail-
able for comment.

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The Supreme Court did not
find Dr Thompson, or his col-
league Dr Leighton Logan, neg-
ligent in the performance of the
operation itself.

But it did find that Dr
Thompson “failed to discharge
his duty of care” to Ms Reilly in
the post-operative phase.

In his ruling, Mr Wallace said:
“There is no precise way to
















assess this loss to a woman. The
ineffaceable scars must be an
ever-present reminder of the
derogation of her womanhood.”

He assessed general damages
for pain and suffering and “loss
of amenities” at $200,000, with
$11,476 awarded as special dam-
ages.

Ms Reilly said she would
probably celebrate her victory
“when I get the cheque.”



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PAGE 4, TUESDAY, MARCH 20, 2007

THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR





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 LITENNE DUPUCH, Ki, O.B. Eo KM, KC.SG:,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

Shirley Street, PO. Box N-3207, Nassau, Bahamas

Publisher/Editor 1972-

Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

Dealing with ‘Adderley’s Logic’

AT NO time in this column did we express
the wish for Mr Paul Lawrence Adderley’s
death. Far from it, we were probably one of
the few persons who were sorry when Mr
Adderley announced his resignation from front-
line politics. We certainly would not now wish
him dead.

Our sorrow came from the fact that we
would miss Mr Adderley whose logical-illogic
was an editorial writer’s delight. Mr Adderley
could always be counted on to say something
preposterous that would set our pen in motion
— not to mention the number of times he would
shift political positions, depending upon what
side of the fence he happened to be sitting on a
given day.

One only has to pick up the Adderley file
around election time to see the racist thread
running through most of his pronouncements.

In fact what we did say in the editorial of
March 14 (see Mr Adderley’s letter on this page
today) was that race would only “cease to be an
issue in the Bahamas when ‘times winged char-
iot’ arrives and departs with the Adderley gen-
eration on board.” .

This departure was not an item on our wish
list. We were just stating a fact, which Mr
Adderley himself announced on the floor of
the House in October, 1993. At that time Mr
Adderley was MP for St Michael’s.

In an exchange with House Leader Algernon
Allen — Mr Allen had objected to Mr Adder-
ley “using the word ‘racist’ in relation to private
citizens outside the chamber” — Mr Adderley
in a heat of passion, shouted:

“You will have to kill me to stop me from
calling a dirty racist, a dirty racist.” And, he
added, “I will be dead before I stop calling a
racist, a racist.”

This was Mr Adderley’s statement of fact,
not this editorial writer’s statement of opinion.

And, of course, we could always count on
Paul Adderley to have a delightful turn of
phrase when referring to his favourite people,
especially when they were trying to pry the
truth from his PLP — “journalistic parasite, a
journalistic rattlesnake, a journalistic cancer-
ous nematode!”

That was Mr Adderley at his best — who
would wish such a colourful character to be
removed from the scene? He gave us a daily
laugh at The Tribune during his time.

We know that Mr Adderley told a radio
audience that “the majority of PLP I think have
put the racial issue behind them.” We agree
with this statement — we don’t “think” they
have put it aside, we know they have put it
aside. But, the point is, Mr Adderley has not,
and as long as he participates in the political life
of this country he will always be fingering
“racists.”

Just flip through our files and this is how the
headings read: “Adderley blames ‘lack of con-
fidence’ in Bahamas on ‘white racists’; ‘Adder-
ley hits out at FNM sell out to ‘white minority’;
‘Adderley calls TV cable applicants ‘white
racists’; ‘MP charges sell out to S Africans’, etc.
In fact the late Sir Etienne Dupuch got so irri-
tated with Mr Adderley’s tiresome rant, that
he wrote an editorial in this column on June 26,

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1982 headed: “Adderley blinded by racism.”

And, today we maintain that although
Bahamians have ceased to focus on this issue —
which Mr Adderley himself has acknowledged
— Mr Adderley has not.

In his letter, Mr Adderley never heard of
“Adderley’s logic”, but, of course, he remem-
bers us laughing at “Adderley’s Law”. He thinks

we are confusing the two. How could we when.

it was in this column that we coined: “Adder-
ley’s Law.”
We have now launched “Adderley’s Logic.”

In his letter Mr Adderley refers to a political
donation by the Kerzner organisation. “It is
not for me to say whether Mr Kerzner made a
donation to anybody,” wrote Mr Adderley, “but
apparently somebody gave this information to
The Tribune. So says the Editor.”

My, my, Mr Adderley, your memory must
have wandered into the sunset on this one.
Why it was you yourself who led The Tribune to
this bit of information.

In a speech’'Mr Adderley made in 1998 on
“political reform”, he revealed that Sun Inter-
national (later Kerzner International) had
donated $50,000 to the PLP’s election cam-

paign. That was a fact of which he had knowl- _ -

edge. His point was that foreigners should stay
out of local politics. Instead of leaving the facts
and moving on, he was tempted to venture into
the unknown, and that’s where he got unstuck.
By innuendo, he wanted to leave his audience
with two thoughts.

If the PLP as Opposition got $50,000, then
how much did the FNM get as the government?

The second mischief he wanted sown was
the thought that Sun as an outsider had come to
the Bahamas and got involved in our politics by
giving a large political donation to the PLP — in
other words Sun was buying political leverage
just in case the PLP took the government from
the FNM. “Obscene!” cried Mr Adderley.

This is where The Tribune came in. We want-
ed to find out exactly what donation the FNM
government had received.

It turned out that — other than the fact that
the PLP pocketed a $50,000 donation — there
was no truth to what Mr Adderley had sug-
gesied about either Sun or the FNM. The FNM
received no donation. Unlike the PLP they did
not ask for one. Nor did Sun go looking for a
donation to bribe the PLP. The PLP went with
their begging bowl looking for Sun. Shake
down? Call it what you will, but in Mr Adder-
ley’s own words the PLP’s behaviour was
“obscene.”

Mr Adderley insists that there are “hun-
dreds of white Bahamians who vote colour not
party or interests.” We strongly reject this state-
ment. Bahamians, white or black, today vote

' party, and fence-sitters vote interest. Mr Adder-

ley insists that the white man votes colour. If this
is so why do so many white men and women
want Hubert Alexander Ingraham, FNM leader,
who is truly a black man, rather than Perry
Gladstone Christie, Prime Minister and PLP,

' who is of a decidedly fairer hue?

Mr Adderley, again that inscrutable logic of
yours is getting in the way. Only Adderley’s
logic can make sense of this conundrum.



experience.















The Hospital
and Health Care
Facilities Act Board

EDITOR, The Tribune.

PATIENTS’ access to their
medical records have been a
recent topic of discussion, for
the survivors of the Sea
Hauler tragedy.

According to press reports,
some survivors were not able
to get copies of their hospital
records. There may be noth-
ing sinister about this — it
could be simple inefficiency.

However, the Public Health
Authority Act, (PHA) which
governs government medical
facilities, does not give
patients a statutory right to
their records. The Hospital
and Health Care Facilities
Act, (HHCF) which regulates
private medical facilities, does
give patients this right.

There are instances, how-
ever, where a private medical
facility will not deliver a
patient’s files for reasons of
its own, and this aspect of the
law needs a summary means
of enforcement.

If the government intends
to put all patients in any
health care facility on an
equal footing, then it should
amend the PHA Act or pro-
vide another Act to give ALL
patients similar rights as are
contained in the HHCF Act.

_ This would include the right

to have a complaint about
“the diagnosis, management,
or treatment” of a patient
investigated by expert inspec-
tors.

But legislation alone, does
not guarantee that patients’
interest are automatically pro-
tected. Take for instance, the
record of the HHCF Board. It
took eight years for that
Board to submit its first annu-
al account to Parliament, in
2006, although the Board has
existed since 1998 — and then
only because of significant
press coverage of its default.

And although it has col-
lected fees from private med-
ical facilities since it was
established, no account of its
transactions has been submit-
ted to Parliament for its first
seven years. This is quite
remarkable in a democratic
society where there is
accountability to an elected
government.

In addition, it appears the
HHCF Board has never
investigated any complaint of
the “diagnosis, management
or treatment” of any patient.
In one particular case, it

PUBLIC NOTICE
INTENT TO CHANGE:NAME BY DEED POLL

The Public is hereby advised that |, DEMETRIUS MATHURIN
of the of 1118 NW 19th Avenue, Ft. Lauderdale, Florida, Zip

Code 33311, intend to change my name to DEMETRIUS
KNOWLES. If there are any objections to this change of
name by Deed Poll, you may write such objections to the Chief
Passport Officer, RO.Box SS-742, Nassau, Bahamas no later
than thirty (30) days after the date of publication of this notice.



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LETTERS

letters@tribunemedia.net




appears that two PLP Minis-
ters of Health have directed
that Board to investigate said
complaint, but the Board
appears unable or unwilling
to do so.

The current Board Chair-

man, Jerome Gomez, says this”

is because the Board cannot
obtain the necessary medical
experts to sit on the investi-
gating committee, notwith-
standing the Board’s access
to experts through Pan Amer-
ican Health Organisation.
This is the same Board, how-
ever, that proposed: “Since
the patient is dead, the file
should be closed.”

It appears also, however,
that Mr Gomez hopes to get a
PLP nomination in the next
election. It may be that Mr
Gomez does not consider an
investigation to be opportune
at this time, as it would scru-
tinise the actual practices of a
medical facility annually
licensed by the Board. Per-
haps the Board sees its
licensees, who write the
cheques for fees to the Board,
as its “constituents”, who
need to be protected by offi-
cial stone-walling. But this
overlooks the fact that the
actual constituents of the
Board are ordinary citizens
—— the patients. Parliament
created the Board and gave
it an oversight function to
protect the pubic by requir-
ing medical facilities to meet
standards.

This is why the Board has
the power to investigate a
complaint of fatally inappro-
priate treatment. By law also,
it is bound to comply with the
directions of the Minister of
Health to do the investiga-
tion. It is remarkable that it
has done neither. One would
expect that a potential candi-
date would see the wisdom of
carrying out his present duties
as Chairman of a health care
Board, so that he could bring
to the voters a record of per-
formance in public office.

Voters should also note this
failure of the public trust in
the debate over expanding the
government’s role under a
national health scheme. If the
NHI Commission likewise
fails to enforce health care
safety requirements, fails to
comply with the directions of
its Minister, fails to investi-
gate and address complaints

of fatally inappropriate care,
then we will have a national
health care system which is in
fact unregulated. Do we each
want to pay for a nationalised
health care system that leaves
lives of patients at risk?

In a modern democratic
society, no group of persons
or institutions can be allowed
to function beyond the reach
of the law, particularly when it
is a matter of life and death.
As Lord Woolf, British law
reform commissioner, stated:

“It is unwise to place any
profession or other body pro-
viding services to the public
on a pedestal where their
actions cannot be subject to
close scrutiny. The greater the
power the body has, the more
important is this need.”

It is no answer to say that
the injured patient can sue the
doctors or hospital responsi-
ble. This cannot restore lost
heath or life. Litigation has
not been known to result in
any general improvement in
health care standards.

The injured party then faces
triple jeopardy: he must not
only cope with any disabili-
ty/unemployment, and get his
hospital records, but he must
then find considerable funds
or a charitably minded attor-
ney to assert his rights before
the Courts. In the Bahamas
in particular, he will have to
endure years of delay, aggra-
vated by attorneys who
manipulate courts apparent-

ly ill-prepared to manage the

situation before it.

That is why it is even more
important that the HHCF
Board do what it is mandated
to do, and ordered to do:
investigate complaints of fail-
ures in private medical facili-
ties tc protect patients’ health
and lives. If the health safety
and life of a citizen or resi-
dent of this country, is of no
consequence to the govern-
ment, what is?

In this small country, many
of our problems could be
avoided or solved. ie

We could, with a mod::.um
of conscience, foresigh: asd
resolve, build a_ bettcr
Bahamas. But only if politi-
cians, public officials, and pro-
fessionals do what they ought
to do, in a timely and appro-
priate manner. It is that sim-
ple.

BAHAMAS
PATIENTS
ALLIANCE
Nassau,

March, 2007.

NOTICE

NOTICE is hereby given that WINDY ST. VIL OF LINCOLN
BLVD, 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 20th
day of March, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that D’ANGELO SMITH OF
SEABREEZE LANE, P.O. BOX EE-15776, 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 13th day of
March, 2007 to the Minister responsible for Nationality and
Citizenship, PR.O.Box N- 7147, Nassau, Bahamas.




} to change my



PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, AULRICK RUSHEILD
DAVID STRACHAN of Kemp Rd, New Providence, intend
name to AULRICK RUSHEILD DAVID
MICKLEWHITE. If there are any objections to this change of
name by Deed Poll, you may write such objections to the Chief
Passport Officer, RO.Box SS-742, Nassau, Bahamas no later
than thirty (30) days after the date of publication of this notice.













-e 2&2 & @& & © 8 TL eee,

a8@eacewv-

.-a sw

‘_ Sea

THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 5



Bahamas aims to have more

control over own airspace



Symposium
organised
on health
care reform

MEMBERS of the public
who have not yet done so are
being urged to reserve their
seat for Wednesday’s Nation-
al Healthcare Reform Sym-
posium.

The Bahamas Chamber of
Commerce, which is hosting
the event, announced that for
those who cannot make it,
the forum will be carried live
on More 94.9FM beginning

~ at 6.30pm.

“The forum will provide
you with information from
all involved in the delivery

' of healthcare: government,

medical and insurance bodies
as well as an assessment of
the plan from an interna-
tional perspective, said the
chamber in a statement. “The
forum will also provide you
with an opportunity to ask
questions of a panel of
experts.”

Invited presenters include:

e Mr Nadeem Esmail, an
international expert on
national healthcare pro-
grammes with a strong
understanding of the current
Bahamian healthcare system

e Dr Bernard Nottage,
Minister of Health

e The Coalition for Health-
care Reform

-e The Employer’s Confed-

eration

e The Private Health
Insurance Association

e Other industry associa-
tions and partners

The forum will take place
at the British Colonial Hilton
and if free or charge. Seats
can be reserved by emailing:
antoinettebutler@coral-
wave.com

Man faces
charge of
stealing
from home

A MAN was arraigned in
Magistrate’s Court on Bank
Lane yesterday charged with
burglary and stealing from a
home.

It is alleged that on Satur-
day, March 17 Hughes Per-
pall broke into the home of
Malinda Sweeting on
Watlings Street.

There, it is alleged that he
stole a cellular phone valued
at $450, 15 DVD’s valued at
$75, as well as an assortment
of school supplies and other
items.

Perpall, who appeared
before Magistrate Marilyn
Meers at court five, was not
required to enter a plea to
the charges and was granted
bail in the sum of $10,000.

The case was adjourned to
July 16.

tH
aS

FOR PEST PROBLEMS
Ma as area

RE RE ey Es

TUESDAY,
MARCH 20TH

6:00 Community page 1540am

11:00 Immediate Response

noon ZNS News Update

12:05 Immediate Response
(Contd)

1:00 Legends: Fred “Papa” Smith

2:00 Fast Forward

2:30 Turing Point

3:00 Durone Hepburn

3:30 Ermest Leonard

4:00 Lisa Knight

4:30 Cybernet

5:00 ZNS News Update

5:05 Healthy Lifestyles

5:30 The Envy Life

6:00 Project Beach Sea Ranger

6:15 Seven Seas Informcial

6:30 News Night 13

7:00 The Bahamas Tonight

8:00 _ Island Lifestyles

8:30 Battle of The Brains

9:00 Holby City

10:00 Caribbean Newsline

10:30 News Night 13

11:00 The Bahamas Tonight

11:30 Immediate Response

12:30 Community Page 1540AM

NOTE: ZNS-TV 13 reserves the
right to make last minute
Pee NCU



































JOHN Rood

‘Mitchell under fire after

FOREIGN Affairs Minister
Fred Mitchell faced a fierce
backlash yesterday after it was
disclosed he had once set fire
to a copy of the Bahamas con-
stitution during a protest. -

The burning of what the PLP
once described as “the most
sacred secular document we
have” left voters outraged, with
one declaring his action “worse
than destroying the national
flag.”

“It is terrible,” said Ivoine
Ingraham after reading revela-
tions about Mr Mitchell's polit-
ical past in The Tribune.

“The constitution is who we
are as a people. To say you are
going to burn that is to burn
everything we believe in. It just
shows the kind of person he is.
It is all about him.”

Mr Mitchell’s burning of the
constitution outside the
Supreme Court came during his
time as leader of the People’s
Democratic Force in 1990.

He was protesting against
then Prime Minister Sir Lynden
Pindling, claiming the country
was being destroyed.

But Mr Ingraham said Mr

Mitchell was “like the plague”
as far as the PLP was con-
cerned. “They did not think
anything of him. He did every-
thing to embarrass Pindling and
he did not like Marguerite Pin-
dling either.”
' Fierce response to the disclo-
sures came as the election cam-
paign heated up in Fox Hill,
where Mr Mitchell is desper-
ately trying to cling on to his
parliamentary seat.

Political observers feel his
FNM challenger, Dr Jacinta
Higgs, is set for victory, with
many voters disillusioned over
Mr Mitchell’s performance
since 2002.

The minister has been
accused of “spending more time
in the air than on the ground”,
neglecting important con-
stituency issues in the process.



Mr Ingraham said: “It
appears he is so desperate that
he is doing all kinds of commu-
nity stuff now. He is dabbling
in the community, but it is all
too late.”

Disclosures about Mr
Mitchell’s burning of the con-
stitution came after he had
invited Fox Hill people to
“remember their history.”

Tribune staff took him at his
word and researched the recent
political history of Mr Mitchell
himself.

The result was a:series of
embarrassing revelations about
Mr Mitchell and his past rela-
tions with the PLP, the party
he now represents.

At one point, the PLP
described him as a “spoil brat
who needed a good spanking”
and even likened his actions to
those of Hitler and Goebbels.

And Pindling himself threat-
ened to reveal details of Mr

Mitchell’s private life, which ,

resulted in Mr Mitchell daring
him to do so, threatening to
make embarrassing revelations
of his own.

Yesterday, Tribune readers
responded positively to Satur-
day’s hard-hitting article. One
said: “Mr Mitchell has been ask-
ing for it. Now he’s got it.”

Another, George Turnquest,
said: “Burning the constitution
is like desecrating a national
shrine. It’s far worse than
burning the national flag, or
even despoiling the national
anthem.

“While a flag is merely sym-
bolic, and the anthem is just a
song, the constitution is the
written foundation of our soci-
ety, the text by which we all live
our lives.

“To desecrate it in such a fla-

grant way is to show complete _

disrespect for our democracy
and the Bahamian people them-
selves.”

Workers Party leader Rod-
ney Moncur, however, defend-

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m@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - The Bahamas
soon will be allowed to exercise
greater control of its own air-
space with the assistance of the
Federal Aviation Administra-
tion, according to US Ambas-
sador John Rood.

Mr Rood, who was speaking
in Grand Bahama on Friday,
said that the FAA has for years
helped manage the airspace in
the Bahamas to ensure safe air
traffic control of flights to and
through the Bahamas.

However, he said, the
Bahamas government has now
expressed an interest in exer-
cising greater control of its own
skys.

“One of the challenges we
face is that we have to work out
the airspace by the Bahamas.
The Bahamas government
wants to:control that space and
has the right to control that
space, and the FAA is trying to
become a partner in that
process,” said Mr Rood.

“We feel that the FAA’s
background and experience in
working with the Bahamas —
whether it’s in training and
radar repair — we feel we are
an ideal partner in providing

ed Mr Mitchell’s action, saying:
“If a government does not
adhere to the law and the con-
stitution, you need to point it
out.”

He said Sir Lynden himself

equipment for the Bahamas to
take care of that airspace, and I
have no doubt in my mind that
people of the Bahamas are
capable of controlling it.

“The incident with the Air
Traffic Control over a week
ago, the controllers were told
what a great job they did. And
the thing is to ensure that they
maintain equipment in a man-
ner that ensures that there will
not be breakdowns,” said the
ambassador.

Concern

Mr Rood said that a break-
down in the radar system “is a
very dangerous situation,” and
is of great concern to the Unit-
ed States.

“One of the roles of being
ambassador in the Bahamas is
to protect the safety and security
of Americans, and with millions
of Americans coming to the
Bahamas you see why the air-
space is an issue that we are con-
cerned about,” said Mr Rood.

He said the FAA and Trans-
portation Security Administra-
tion have been outstanding
partners with the Bahamas,
donating time and resources to
assist with aviation safety and

airport security management.

When Grand Bahama lost its
airport radar as a result of the
2004 hurricanes, he said, the FAA
stepped in to provide an emer-
gency tower that is still in use.

The ambassador said that the
Bahamas government is very
interested in working with the
FAA to try and find a solution
that is good for the Bahamas
and the US.

He said that the FAA has
indicated an interest and will-
ingness to partner with the
Bahamas in a new way that will
allow the Bahamas to benefit
more from controlling its air-
space, while ensuring the high-.-
est safety for air travellers that
would come from a manage-
ment partnership with FAA.

“T am hopeful that we will be
able to continue this partner-
ship that brings so many intan-
gible benefits of collaboration
with the FAA.

“We have been in the early
stages of discussions on this
matter, and hope to move for-
ward in the weeks and months
ahead. Such a new partnership
in this vital area will allow us
both to use FAA’s expertise to .
ensure that Bahamian skies
remain safe and secure,” Mr
Rood said.

Tribune article

had set an example for Mr
Mitchell by throwing the par-
liamentary mace out of the
House of Assembly window
in 1965. But he thought the
Tribune article “powerful”

and revealing.

Another reader said: “My
cellphone was ringing all morn-
ing after that article appeared.
It’s the kind of journalism we
need in this country.”

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MONTROSE AVENUE

PHONE: 322-1722 FAX: 326- 7432 —

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PAGE 6, TUESDAY, MARCH 20, 2007

‘Thivargo Laing claims nation headed
in wrong direction under the PLP

@ By ALISON LOWE
Tribune Staff Reporter

GRAND Bahama, and the
nation as a whole, is "headed
in the wrong direction" under
the PLP government according
to FNM Marco City candidate
Zhivargo Laing.

Speaking at the opening of
the FNM Russell Town head-
quarters for West End and
Bimini on Friday, Mr Laing
threw his support behind the
FNM’s candidate David Wal-
lace — who he said would be an
"upfront" and "visible" MP,
"restor(ing) your trust in gov-
ernment again."

Mr Laing told those present
that the PLP has "treated
almost everyone badly" during
their time in power, including
teachers, the police, prison offi-
cers, customs officers and nurs-
es.
Meanwhile, their "political
cronies, family members and
hired political mercenaries"
have benefitted, at the expense
of the rest.

According to Mr Laing,
crime, illegal immigration, food,
electricity and land prices, scan-
dals and the national debt are
"up! Way up!", while school
grades and employment in
Grand Bahama is “way down!".

"This is not what the people
of the Bahamas or of Grand

PROSPECTUS



“(The PLP) believe that the
government should have all the
power and that the people should
be dependent on them, that is
why they have stifled local.
government and politicised it.”



FNM Marco City candidate Zhivargo Laing

Bahama voted for in 2002.
Grand Bahama especially did
not deserve what the PLP has
done to it since 2002," he said.

Discussing the FNM's record
in Grand Bahama, Mr Laing
said the economy flourished
during their tenure.

Unemployment dropped
from 16.8 per cent to 6.4 per
cent, and 15,000 jobs were cre-
ated across the island, he
claimed.

In response to PLP talk of
increased Bahamian ownership
of companies in the Bahamas,
Mr Laing pointed to seven enti-
ties, including the Bank of the
Bahamas and Cable Bahamas,
which were Bahamianised in
terms of ownership under the
FNM.

Furthermore, he said, infra-
structure was greatly improved

as schools, parks and other
facilities were built, and gov-
ernment services were upgrad-
ed.

Mr Laing said that Mr Wal-
lace would "go out of his way
to be available" to the people
of West End and Bimini.

"David Wallace will not put
foreign investors ahead of you.
When you call, he will be
there," said Mr Laing.

If elected to power, the FNM
will provide proper government
services in West End and Bimi-
ni, and promote economic
growth through "thoughtfully
selected" investments, he said.

Additionally, they are deter-
mined to preserve the environ-
ment, strengthen coastal
defences, improve educational
opportunities, and address the
land issue.

THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS

BAHAMAS REGISTERED STOCK 2026 AND 2027

ISSUE OF B$50,000, 000.00

Issued under The Bahamas Registered Stock Act, and authorized by Resolutions of the House of

Assembly, 21st June, 2006.

Applications will be received by The Banking Department beginning at 9:30 am on 16th March, 2007 and
will close at 3:00pm on 26th March,,2007. Allocations will commence at 9:30 a.m. on 27th March, 2007 and
will cease at 3:00p.m. on 28th March, 2007 :

If the total subscriptions exceed the sum of B$50,000,000.00 (Nominal) partial allotment will be made to
subscribers, and a proportionate refund will be made as soon as possible after allotment. No interest will be

paid on amounts so refunded.



The date of this Prospectus is 15th March, 2007

The Government of The Commonwealth of The Bahamas invites applications for Bahamas Registered
Stock totalling B$50,000,000.00. The Stock will be available in a range of maturity dates; the earliest being
repayable in 2026 and the latest in 2027. The total amount of Stock offered, the rate of interest and the issue

price are given below :-

Rate Of Interest

9/32% Above Prime Rate
5/16% Above Prime Rate

Amount
BS
25,000,000.00
25,000,000.00

Bahamas Registered Stock 2626
Bahamas Registered Stock 2027

Issue
Price
BS

100.00
100.00

50,000,000.00

The Stock shall be repaid on 28th March, in the year appearing in the name of the Stock.

INTEREST —

The Stock will bear interest from 28th March, 2007, at the rate shown against the name of the Stock as the

The importance of local gov-
ernment was further noted as
a key issue.

“(The PLP) believe that the
government should have all the
power and that the people
should be dependent on them,
that is why they have stifled



local government and politi- -

cised it. We believe that local
government should have more
power so that they can have
more say in their communities,"
Mr Laing said.

He encouraged those present
to register to vote.

"You have much at stake,"
he said.

THE GOVERN



EXACTLY one year after
Deron ‘Sharky’ Bethel was
shot dead in his car outside
his home, friends and family
will hold a special service of
remembrance this weekend.

Sharky’s life will be cele-
brated at Baptist Bible
Church, Soldier Road, at
11am on Sunday and after-
wards at a wreath ceremony
at Lakeview Cemetery.

His brother Dwayne told
The Tribune: “The regular

STR US CSTE
COE UCU i Te

THE TRIBUNE



congrégation will be there, but
we also want all his friends
and family to attend, too.

“We want people to remem-
ber.”

Sharky, 20, was killed in
cold blood while parked out-
side his home in Pinewood
Gardens on March 27, 2006.
His murder shocked the
neighbourhood.

A policeman has been
charged with the killing and
his case is still to be heard.

Cancer Society fundraising ball

THE Cancer Society of the Bahamas will host its 6th annual
fundraising ball on Saturday, June:2, at the Wyndham Nassau
Resort, under the theme, “The Colourless Ribbon: Our Symbol
of Hope”. The colourless ribbon, which is really a translucent rib-
bon, will represent all of the cancers that affect the Bahamas.
Organisers noted this collective awareness approach was taken
this year instead of highlighting one specific type of cancer, as was

done in past years.

¢ Members of the public who want more information can
contact the Cancer Society of the Bahamas at 323-4482 or

323-4441

MENT OF THE COMMONWEALTH OF THE BAHAMAS

——_—_—_—E—_——_ EEN MOUNWEAL TH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2026 AND 2027

= QQ SENSES REM SIVULK 2020 AND L027

The Registrar

FOR OFFICIAL USE ONLY
APPLICATION No.
ALLOTMENT No.

DATE:

c/o The Central Bank of The Bahamas

P. O. Box N-4868
Nassau, Bahamas

Sir:

V/We hereby apply for the following amount of Bahamas Registered Stock:

9/32% Above Prime Rate
5/16% Above Prime Rate

Insert below the amount applied for

in Units of B$100

and undertake to accept any less amount which may be allotted to me/us.

Y/We enclose B$

Bahamas Registered Stock 2026
Bahamas Registcred Stock 2027

BS
BS

in payment for the Stock applied for.

In the event of the full amount of Stock(s) applied for above is/are not allotted to

percent per annum over the Prime Rate (i.e. the prime commercial interest rate from time to time fixed by the me/us, Uwe request that the sum refundable to me/us be applied for the following Stock:

Clearing banks carrying on business in the Island of New Providence in The Bahamas. If there shall be any

difference between them, then that which is fixed by Royal Bank of Canada). Interest shall be payable half- 9

yearly commencing on 28th September, 2007 and thereafter on 28th March and 28th September in every year ~

until the Stock is repaid. 7
C

Bahamas Registered Stock BS
Bahamas Registered Stock BS
Bahamas Registered Stock BS
% Bahamas Registered Stock BS

. CHARGE UPON CONSOLIDATED FUND : ered be piaseale ate BS
r mas Regi: toc! B$

The principal monies and interest represented by the Stock are charged upon and payable out of the

Consolidated Fund and assets of The Commonwealth of The Bahamas.
. PAYMENTS CAN BE MADE VIA RTGS SYSTEM THROUGH ALL COMMERCIAL BANKS

EXCEPT FINCO, BY BANK DRAFTS PAYABLE TO THE CENTRAL BANK OF THE BAHAMAS
AND BY CASH.
SUPPLEMENTARY PROVISIONS

The Stock will be issued by the Registrar (The Central Bank of The Bahamas).
Applications will be received by The Banking Department beginning at 9:30 am on 16th
March, 2007 and will close at 3:00 pm on 26th March, 2007. Allocations will commence
at 9:30 a.m. on 27th March, 2007 and will cease at 3:00p.m. on 28th March, 2007. All
envelopes enclosing applications should be labelled “Application For Bahamas
Government Registered Stocks”.

Issue of Stock

1. (One Person)
Ordinary Signature

Units The Stock will be in units of B$100.00. Name in Full (BLOCK LETTERS, state whether Mr., Mrs., or Miss and titles if any.)

Applications Applications must be for B$100.00 or a multiple of that sum.

Application Forms Applications for the Stock should be made to the Registrar on the form attached to the
Prospectus and may be obtained from the Registrar offices in Nassau and Freeport, The
Treasury Department (Marlborough Street & Navy Lion Road, Nassau) or any of the
following banks:

Address (Corporations etc. should give Registered Addresses )

P. O. Box

Bank of The Bahamas International

First Caribbean International Bank (Bahamas) Limited

Finance Corporation of Bahamas Limited

Commonwealth Bank Limited

Royal Bank Of Canada

Scotiabank (Bahamas) Limited

Fidelity Bank (Bahamas) Limited (formally British American Bank(1993)
Limited)

Citibank, N.A

Telephone Nos. (H) (W)

2. (Where two or more persons apply as joint subscribers, the additional names and addresses should
be given below.)

PUBLIC DEBT



Ordinary Signatures

Provisional estimates from the unaudited accounts as at December 31, 2006 show the Public Debt of The
Bahamas to be B$2,880,739,000.*

Namesin Full

GOVERNMENT REVENUE AND EXPENDITURE
And/OR



The following information is extracted from the unaudited accounts of the Government of The
Commonwealth of The Bahamas.

Address



FY2005/2006p** FY2005/2006p** FY2006/2007p**
BS BS BS

Approved Budget Approved Budget Telephone Nos.(H)



Revenue ‘ 1,221,454,000 1,132,774,090 1,338,971,000

i ] interest to be paid to:
Recurrent Expenditure (excluding V/We hereby request semi annual interest to be paid to
Repayment of Public Debt)

1,269,560,000

1,149,582,000 1,145,691,000

Bank Name.



Capital Development
Expenditure (excluding loans
contributions and advances
to public corporations)

Bank Branch





123,454,000 132,901,000 162,356,000
** Provisional estimates from the unaudited accounts.
* — The Public Debt amount is inclusive of The Public Corporations contingent liability which as at

December 31, 2006 totalled B$499,067,000.

Account Number







THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 7



O ln brief

Arrest warrant
issued after
woman fails to
show in court

A WARRANT of arrest
was issued yesterday for a 36-
year-old woman who failed
to appear in court to face a
stealing charge.

It is alleged that Sheryl
McKenzie of Breadfruit Street,
between January and March
1, while at Yamacraw Hill
Road, stole $300 in cash, along
with jewellry and other items
together valued at $2,830; the
property Paulette Smith.

McKenzie was expected to
appear before Magistrate
Susan Sylvester at court 11 in
Nassau Street however failed
to show up and a warrant was
issued for her arrest.

New Guyana
sugar factory
to help after
EU cuts

m@ GUYANA
Georgetown

A SUGAR factory under
construction in Guyana is
expected to help the South
American nation survive
sharp subsidy cuts to cane
growers, the government said,
according to Associated Press.

Agriculture Minister
Robert Persaud said the plant
in the sugar-producing com-
munity of Skeldon will ease a
crunch on cane farmers in
Guyana, where the crop
accounts for roughly 20 per
cent of GDP, by increasing
local production capacity.

Built with assistance from
the Chinese government, the
factory is expected to pro-
duce 110,000 tons of sugar a
year, boosting Guyana’s
annual production to 450,000.

Other Caribbean nations,
such as Trinidad and St Kitts,
have been squeezed out of
the region’s beleaguered sug-
ar industry after the Euro-
pean Union cut subsidies for
producers from the
Caribbean, Africa and the
Pacific by 36 per cent.

Candidate questions
_Christie’s record in

own constituency

FNM Farm Road candidate
Ella Coulibaly-Lewis said it baf-
fles her that Prime Minister Per-
ry Christie “could fix his mouth
to brag about anything” when
his own constituency remains
in a deplorable condition.

“Any right thinking Bahami-
an could easily confirm this
information by driving through
Farm Road and by forming
their opinion, Mrs Coulibaly-
Lewis said in a statement yes-
terday.

She said one neighborhood
in particular, the Windsor Lane
West government apartment
complex — better known as the
Big Yard — is in a total state of
disrepair.

“After five years of poor rep-
resentation by the prime min-
ister Perry Gladstone Christie
himself, the 18-plus families
who call these apartments
home have a myriad of com-
plaints and find themselves liv-
ing under substandard condi-
tions,” she said. “We cry shame
on Perry Christie for allowing
this to happen and for so long.
He has proven that he could
care less.”

Mrs Coulibaly-Lewis
explained that in the apartment
complex, doors, windows and
steps are broken.

She said one family confided
that they have had to learn
which steps to avoid on the
stairwell so as not to fall
through.

“There are 20 broken win-
dows in the complex and no one
has made an attempt to correct
these problems. Many of the
occupants who reside in the
complex are single mothers with
small children as well as moth-
ers with children who have spe-
cial needs. They have made
numerous complaints to the rel-
evant authorities, but to no
avail,” she said.

“The residents have cried out
for security at this complex

Government apartments in a
shambles, claims FNM hopeful



MAN example of graffiti in the area

since many of the trouble mak-
ers do not live in the apartment,
but use the property for a short
cut. At night it is common
occurrence to hear gunfire.”
Mrs Coulibaly-Lewis said res-
idents have complained to her
that they feel as if they are in
the “wild wild west”.
Residents reported how one
young man was just gunned
down “a stone’s throw” from
their back door, she said.
“After numerous complaints
the Urban Renewal Police
promised to place an office in
the complex to stem the violent
activities, however this promise
never materialised. One resi-
dent said that it seems even the
police are afraid of the crimi-
nal activities in the Big Yard,”
the candidate said.
“If the prime minister really
cared, one drive past the com-



plex and he would see the
mounds of garbage. He would
see the intolerable conditions
for any human being to be liy-
ing in. There is one dumpster
for 18 families, the overflow of
filth most certainly has har-
boured and now breeds rodents.
This is situated next to where
the boys play basketball which
is unsafe, not to mention,
unhealthy.”

Mrs Coulibaly-Lewis, a
teacher and a mother, said she
feels for the people in the com-
plex, but does not expect Mr
Christie to respond.

While in the past few weeks,
painters arrived to apply a new
coat to the building, this is a
mere election ploy, and a case
of too little too late, said the
candidate.

She said the “help and hope”
Mr Christie promised, among





oe










@ THE site where local youngsters play basketball

other things, is not expected by
the people of the Windsor Lane
West government apartment
complex.

“The junkanoo shuffle and
the long speeches combined

Maa esti n ace
MF MIA EG
P:,.eae J

° coi noftherealmec*

ete hares eee bae tees
Saturday 24th March *

with all the pomp and circum-
stance can not satisfy the people
through Windsor lane. They
have had enough of the talk.
They want action and they want
it now,” she said.

awwan®

alf-Price SALE



on all items on display



PAGE 8, TUESDAY, MARCH 20, 2007 THE TRIBUNE
LOCAL NEWS





Members of the police, prison service and the
‘special operations team of the Royal Bahamas

Defence Force attended the Coral Harbour base on
Friday for a demonstration of new weapons.

The demonstration was conducted by Joe Selvagio,
an independent procurement agent for law
enforcement and uniform services, with technical
support from the American Manufacturers Association
and the British Manufacturers Association.

~ Mr Selvagio was working through Temprocure, a
Bahamian agency specialising in military gear.





@ JOE Selvagio talks about the new weaponry









m@ A MEMBER of the Special Operations unit tests one of the

Beard | | EVIE aTcaecal bata @ Oem Ri] seven

at Montrose Avenue
Rae nel oe Phone:322-1722 + Fax: 326-7452

PALMDALE AVENUE, NASSAU, BAHAMAS

PHONE: 322-4570/ 393-151 © CELL: mre 7 LARGE | SHIPMENT OF USED CARS

RANNIE PINDER President | :
Ram ic AN STOCK

ANDREW | COME CHECK) f |
WELLS, 46 oo

will be held at Holy Cross
Anglican Church on
Tuesday, March 20th, 2007
at 10:00am. Burial will be
in Woodlawn Gardens,
Soldier Road.











YOUR CONNECTION TO







INVITATION NOTICE
Pre-paid Card Vendors

The Bahamas Telecommunications
Company Ltd. (BTC), wishes to extend
an invitation to persons who are



















parents, Sidney and Ethlyn

On Premises

L. Wells; his wife, Suzette Clarke-Wells; three

brothers, Sidney (Allan), Wayne and Douglas Wells; co currently BTC vendors and all persons
sisters-in-law, Angela and Samantha; ten uncles, Ch k 0 p te

Joseph Fox, James, Franklyn, and McKinley Wells, Meck Uur Frice interested in becoming vendors to
Pastor Allan Lee, Winston Cartwright, Randolph Dy f : is ees Si sat Sages Las , :
Wells, Ernest and Raymond Fox and Rudolph Deal; ATOre buying attend a Vendor Meeting. This meeting

ten aunts, Lorraine Cartwright, Edna Wells-Fox, “
Nancy Lee, Hazel Wells, Violet Cartwright, Edna

Fox, Freda Fox, Helen Deal. Mary Harding and | i Bahamas Bus & Truck |
Carolyn Fox; six nephews Me leque |, Devan, Dane

Miguel, Stephan and Jaden Wells; one niece, Alc)

Wells; cousins, other relatives and frienils: Special 7 L a | a

/ He is survived by his =|

at 6pm, location Worker’s House



thanks to Mr Rupert Roberts and family, the staff of

Super Value. General information and the benefits
of being a BIC vendor will be

discussed.

Friends may pay their last respects at Pinder’s Funeral |
Home, Palmdale Avenue, Palmdale on Monday,
March 19th, 2007 from 1pm until ep:

PLY UN ONE TTR TES OCTET RET Te _

| will be held on Thursday March 224





v7
se

$8 Be wer

@ecd

“Se ee ~ + 2 0 Oe wT Tienes

“General Arthur

THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 9



PM tables
boundaries
report

FROM page one

The constituency known as
Holy Cross is now renamed
Seabreeze.

“This takes into account
the predominance of voters
of Seabreeze,” he said.

Save for some boundary
changes in Andros, the prime
minister said, the Commis-
sion did not recommend any
changes to be made to the
boundaries of the LO Family
Island constituencies.

Mr Christie concluded that
the draft order by Governor
Hanna,
which gives effect to the con-
clusions of the Boundaries
Commission, “fully recognis-
es and reflects as nearly as
possible the actual distribu-
tion of voters in the Bahamas
and realistically takes note of
the distribution as between
New Providence and the
Family Islands, on the one
hand, and between New
Providence and Grand
Bahama on the other.”

“The dratt order is fair and
equitable and in full accor-
dance with the mandate in
Article 70(2) of the Consti-
tution of the Bahamas.” the
prime minister said.

US treasury
secretary
pushes hiofuels
in visit to

Latin America

HB GUATEMALA CITY

U.S. TREASURY Secre-
tary Henry Paulson arrived
in Guatemala on Monday,
vowing to back efforts to
expand the benefits of free
trade for more of the region's
poor, according to Associated

‘Press.

Paulson's appearance at
the Inter-American Devel-
opment Bank's annual meet-
ing comes on the heels of
U.S. President George W.
Bush's swing through Latin
America, when he cemented
an ethanol-promotion agree-
ment with Brazil that offi-
cials said would stimulate
development in tropical
nations of the Américas.

In a statement issued
before he began his trip,
Paulson said he hoped "to
work with leaders in the
region to ensure that more
people share in the benefits
created by economic growth
and trade opportunities."

He said he would also dis-
cuss debt relief for the hemi-
sphere's most impover ished
countries.

But other officials here
also said that ethanol would
be a major focus of the meet-
ings.

U.S. and other foreign
investors have expressed
interest in using Guatemala
as a base for exporting
ethanol to North America,
Guatemalan Finance Minis-
ter Hugo Eduardo Beteta
said on the sidelines of the
meeting, which ends Tues-
day.

While Brazil leads the
world in ethanol exports, its
exports to the U.S. are
restricted by a 54-cent-per-
gallon U.S. tariff on its sugar-
based ethanol. As a result,
many in the ethanol industry
have been taking a look at
Central America and the
Caribbean, which also are
important sugar cane pro-
ducing regions. Sugar
accounts for nearly a quar-
ter of Guatemala's agricul-
tural production.

Caribbean and Central
American countries also
enjoy preferential trade quo-
tas and a limited amount of
tariff-free trade in ethanol
with the United States under
the Central American Free
Trade Agreement and the
Caribbean Basin Initiative.

Guatemala has been
preparing for the possibility
of becoming an export base,
upgrading its largest port,
Santo Tomas de Castillo, on
the Caribbean coast, and car-
rying out certification proce-
dures, Beteta said.

A top Brazilian a and
ethanol group, Unitalco,
recently announced it was
considering a joint venture
in an ethanol dehydration
plant to be based in

FROM page one

As previously reported by The Tribune,
major changes within the police force
include the transfers and promotions of
Assistant Commissioner of Police (ACP)
Reginald Ferguson, Assistant Superinten-
dent of Police (ASP) Marvin Dames and
Grand Bahama’s ACP Elliston
Greenslade.

Both Mr Ferguson and Mr Greenslade
will be part of the newly appointed senior
assistant commissioners.

Although some factions within the force
claim that the changes are “politically moti-
vated,” Commissioner of Police Paul Far-
quharson in announcing the changes yes-
terday said that the restructure and expan-
sion of the police is aimed at targeting the
country’s high level of crime and creating a
performance based organisation with high-
er accountability and transparency.

“Both the Prime Minister and the
Deputy Prime Minister have said publicly
that crime is at an unacceptable level. The
expansion and reposition of responsibility
in the police is the front end of the
increased resources that we hope will be
allocated to combat crime and other
resources which include improving com-
munications, more vehicles, greater col-
laboration with the Defence Force and
more policemen,” Mr Farquharson said.

The police commissioner said that the
strategy is to place experienced and accom-
plished officers in crime fighting positions
that will comprise the “vanguard of the
action against crime.”

To that end, ACP Elliston Greenslade,
who currently heads the northern Bahamas
district, will transfer on promotion as senior
assistant commissioner of police and will
head the crime division of the Bahamas.

Chief Supt James Carey, who is present-
ly attached to New Providence’s forensic
laboratory, will be transferred on promo-
tion to assistant commissioner in charge
of all of New Providence.

The vision, Mr Farquharson said, is that
these two officers will collaborate and

Sea tragedy
victim claims
govt is not
living up to
responsibility
FROM page one

the media that he was about
to be kicked out of his home
because he has been unable
to work because of his dis-
ability from the accident.

After the 2003 accident,
Mr Hart remained ina
coma for almost two years.
Since then he has suffered
from a leg injury.

Mr Hart said that the
Ministry of Social Services
promised to assist his fam-

ily, but he claims he has received no assistance from gov-

ernment up to this point.

In December 2006, the survivors of the Sea Hauler/United
Star boat tragedy tried to get the media’s attention by block-
ing the path of House of Assembly members as they entered

the lower chamber.

‘The survivors, who also staged a demonstration at Potters
Cay Dock, said they had fallen on hard times and had still not
received financial assistance from government — some three

years after the accident.

The group crossed the path of Agriculture and Marine
Resources Minister Leslie Miller who told them that the Port
Authority should not be blamed for the accident as some in

the group had suggested.

Meanwhile National Security Minister Cynthia Pratt and
Transport Minister Glenys Hanna-Martin said they would
re-examine the matter to see what could be done to assist the

victims.

Accompanied by his three young children and fiancée, Mr
Hart told the media yesterday that
part of the responsibility for the Sea Hauler accident and
promised to treat this like a national disaster with swift justice
and a quick closure. But so far, people are still suffering

everyday.”

He said that his family needed immediate assistance from
the Ministry of Social Services because his landlord had
already taken the roof off his home and his family would

soon have no place to stay.

“If we as a country can find money to send to New Orleans
to help the hurricane Katrina victims, why can’t we as a
nation find funds to help the Sea Hauler and United Star
victims who are right here in our country?” Mr Hart asked.

The Sea Hauler and United Star collided in the early hours
of the morning of August 2, 2003. Four passengers were
killed and 25 others were injured in the accident.

PARTS MANAGER/SUPERVISOR
NEEDED

For an expanding Freeport Auto Dealership.

Successful applicant must have a thorough
understanding of computerized inventory
systems and must be willing to supervise
and train others. Knowledge of Japanese
and Korean parts is a must along with
proven dealership experience.

Attractive and competitive remuneration
package available to successful applicant.

Please apply in writing to:

PARTS

P.O. Box F-41060
Freeport, Grand Bahama



@ SEA tragedy victim Cedric
Hall (shown with his family) is
seeking compensation from the
government.

“government accepts



Police Force restructuring is officially announced



& COMMISSIONER of Police Paul Farquharson on Monday announced the pro-
motions of four Assistant Commissioners of Police to the rank of Senior Assistant Com-
missioner of Police and the further promotions of six persons to the rank of Assistant Com-
missioner of Police. Shown in an official portrait at Police Headquarters are from left
(front row) Senior Assistant Commissioner of Police Ruben Smith; Senior Assistant Com-
missioner of Police Reginald Ferguson; Commissioner of Police Paul F arquharson;
Deputy Commissioner of Police John Rolle; Senior Assistant Commissioner of Police
Allan Gibson; Senior Assistant Commissioner of Police Ellison Greenslade. (Back row)
Assistant Commissioner of Police Marvin Dames; Assistant Commissioner of Police Chris
McCoy; Assistant Commissioner of Police Juanita Colebrooke; Assistant Commission-
er of Police James Carey; Assistant Commissioner of Police Kirkland Hutchinson;
Assistant Commissioner of Police Eugene Cartwright.

mount effective crime suppression pro-
grammes by increased and more effective
uniform presence on the street and will
work to improve the already impressive
detection rate in serious crimes.

ACP Ferguson, who up until now served
as the officer-in-charge of crime, will upon
promotion to senior assistant commission-
er head the education and training unit.

The police commissioner explained that
in response to the increased levels of crime,
police will have to enlist and train the max-

(Photo: Tim Clarke)

FROM page one

Mr Stubbs said that he also does not think it
unfair that MPs Keod Smith, Kenyatta Gibson
and Shane Gibson, who all had their share of
scandals to contend with in recent months,
were renominated.

“Keod Smith and Kenyatta Gibson and
Shane Gibson, they’re my colleagues, they are
my friends, they have the legitimate right to
run in their constituencies.

“Their constituencies were not cut, Mount
Moriah is still Mount Moriah, Golden Gates is
still Golden Gates, Kennedy is still Kennedy.
There is no Holy Cross, the heart of Holy
Cross was taken out.
should run, their constituents still want them
and support them,”

Mr Stubbs said that he could not reveal at
which time he was informed that he would
not be renominated for his seat, but said he
was not shocked by the decision.

“Nothing shocks me in politics.

“It’s politics, that’s the life of a politician.

ONE COMPANY

(BIS Photo: Tim Aylen)

imum number of recruits possible on a sus-
tained basis. Police, he said, will also have
“to foster improvements in broad educa-
tion at all levels of the force as well as
develop a cadre of specialists capable of
responding to existing and rising chal-
lenges.”

Mr Ferguson, the police commissioner
said, will bring his “considerable expertise
and experience in policing in crime fighting
to bear on his new field of education and
training.

So those gentlemen

he said.

Position Summary
The successful candidate will: develop tools and applications to ensure the
overall efficiency of the business processes; maintain and enhance the core
line of business applications as necessary; and work with Senior
Developers to implement new technologies.

Job Requirements

You win some and you lose some,”

Mr Stubbs said that he views this turn of
events as a sabbatical for himself.

“T take it as going away and coming back at
some future date, I’m still young,” he said.

Mr Stubbs said that he will be working on
the campaigns of Prime Minister Perry
Christie and MPs Vincent Peet and Bernard
Nottage.

He said that he will especially be working
with Mount Moriah MP Keod Smith.

“T will be working with Keod Smith to
ensure he goes back to parliament and to Cab-
inet next time around,” he said.

Until parliament is dissolved, Mr Stubbs

said, he is still the incumbent for Holy Cross

and will continue to have a presence in the
area, even when it becomes the Seabreeze
constituency.

Mr Stubbs was the only PLP incumbent not
to be renominated for his seat.

ONE GOAL

However, several political pundits have
charged that ACP Ferguson is being moved
because of the role he is alleged to have
played in the arrests of the five baggage
handlers from Nassau Flight Services, who
are currently behind bars in the United -
States for reported drug smuggling.

As for heightened concerns about con-
traband being smuggled through the Lyn-
den Pindling International Airport, Police
Commissioner Farquharson yesterday
announced that the current head of the
Criminal Detective Unit, Chief Supt Mar-
vin Dames will be promoted to assistant
commissioner and will be put in charge of
the new unit that will concentrate on secu-
rity and monitoring of seaports and air-
ports.

In a move the commissioner of police
described as “history in the making”,
Woman Chief Supt Juanita Colebrooke is
being promoted to the rank of assistant
commissioner and will from now on head
the division of community policing and
security, which includes the urban renew-
al programme.

Among other transfers and promotions
are the following:

e Assistant Commissioner Alan Gibson,
who currently heads the New Providence
division, will assume a coordinating and
development role with the objective of fos-
tering articulation between the uniform
service and the detective service in New
Providence, Grand Bahama and the Fam-
ily Islands.

¢ Chief Supt Kirtland Hutcheson will be
promoted to assistant commissioner and
head the complaints and corruption unit.

e The southern Bahamas division, which
now also includes the central division, will
be headed by Chief Supt Jeff McCoy upon
his promotion to assistant commissioner.

e Supt Keith Bell will be promoted to
Chief Supt and will head the newly estab-
lished security and legal services unit.

Sidney Stubbs

he said.

oes

in

YX uber Garwe

ONE CHOICE

Colinalnperial Insurance invites interested persons to submit applications for the
position of Systems Developer in the Information Technology department.

Systems Developer

Must have a Bachelor's degree in IS or equivalent technical certifications

Minimum 3
or AS/400 C ‘obol
Minimum 2 vears programming experience in SQL

Knowledge of industry stand ards rez System Change Control procedures
Practical experience in insurance or banking fields preferred

Excellent attention to detail
Excellent analytical and problem solving skills
Strong verbal and written communication skills
Strong leadership and organizational skills

Knowledge of the following

Responsibilities

Development of new applications to improve the business process

Creation of technical speci

XBase

CICS for AS400

Java / Perl /XMI.

Tomeat

Crystal Reports

Microsoft Development (NET)

Include

3 years programming experience with AS400 CL, RPG IV / ILE

would be an asset:

Supporting maintenance & enhancement of existing applications

Implementation of changes using established testing procedures and change control
Troubleshooting of problems related to RPG and Cobol AS400 programs

fications and design documents

Work with team of developers and analysts to complete corporate objectives

Compensation will be commensurate with experience and qualifications.
hosed submit your resume to our Corporate Headquarters, a8 East Ba Sree
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ee line: Systems Developer. Deaclline for all submissions: 7

Colinalmperial is 100% Bahamian-owned and of

including share ownership and career





PAGE 10, TUESDAY, MARCH 20, 2007 THE TRIBUNE



FRIDAY EVENING MARCH 23, 2007

[7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30

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THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 11



CARIBBEAN NEWS

Cuban opponents assume

lower

profile while watching situation

@ HAVANA

THE wives of several dozen
political prisoners still don white
each Sunday to march silently
for their husbands’ release, and
a leading human rights group
still issues its twice-yearly report
on prisoners of conscience,
according to Associated Press.

But eight months after Fidel
Castro fell ill and four years
after a broad crackdown on dis-
sent, Cuba’s organised opposi-
tion generally has assumed a
much lower profile as it waits
to see how the island’s political
situation develops.

“Cuba is a country in wait-
ing,” veteran rights activist
Elizardo Sanchez said. “What’s
going to happen with El
Comandante? What’s going to
happen afterward?

“Tf all of the population is
waiting, the dissidents have no
reason to be running back and
forth,” added Sanchez, whose
Cuban Commission on Human
Rights and National Reconcili-
ation issues the list of political
prisoners every six months.

Since Castro announced July
31 he had undergone intestinal
surgery and temporarily ceded
power to his brother Raul, the
flood of open letters and stri-
dent statements that govern-
ment critics sent to internation-
al media have thinned to a driz-
zle.



@ CUBA’S “Ladies in White” walk holding flowers during a march in Havana on Sunday to
commemorate the crackdown that jailed 75 opponents of the Cuban government four years ago

The news conferences once
held regularly by a host of tiny
dissident groups are now
increasingly rare.

“The most optimistic thought
they were going to see a series
of Chinese-type reforms,”
Sanchez said, referring to com-
munist China’s mix of state-run
market reforms with a strong

one-party political system. “But
what has been seen is an almost
feudal-style succession; every-
thing remains the same.”

The communist government
is proud of how calm the coun-
try has remained since 75-year-
old Raul Castro took the reins
from his 80-year-old brother.

Although the elder Castro’s

(AP Photo/ Javier Galeano)

condition and exact ailment
remain a state secret, he is wide-
ly believed to suffer from diver-
ticular disease, which can cause
inflammation and bleeding in
the colon. It seems unlikely that
Castro will return to govern full-
time, but several top officials
have recently indicated he is
recovering so well that he just

might.

Meanwhile, no major changes
have occurred, and Raul Cas-
tro has given no strong indica-
tion he plans any reforms.

“Today, Cuba is living
through an especially uncertain
moment owing to Fidel Castro’s
illness,” Miriam Leiva, one of
the prisoner’s wives, wrote
recently for a Web site outside
Cuba called “Encuentro,” or
Encounter.

That uncertainty is accompa-
nied by fear of another crack-
down like the roundup of 75
dissidents launched four years
ago this week.

"We cannot rule out a new
wave of repression,” Leiva
wrote, “instead of the urgent
changes required for the critical
political, economic and social
situation the people face.”

Leiva and the other women
known as the “Ladies in White”

__ were the only ones to publicly

mark the crackdown anniver-
sary over the weekend, with a
small gathering at a home Sat-
urday as well as their regular
silent Sunday march.

Cuba’s three-day crackdown
was launched on March 18,
2003; just as the first US military
strike on Iraq was getting under
way.

Governments and rights
groups around the world con-
demned Cuba as it tried the dis-
sidents as “mercenaries” work-

ing with Washington to under-
mine Castro’s socialist system
and sentenced them to prison
terms of up to 27 years. Both
the dissidents and American ©
officials denied the US govern-
ment paid opponents to harm »
Cuba.

Sixteen of the original 75
have since been released on
medical parole, leaving 59
behind bars. They are among
the 283 prisoners of conscience
Sanchez’s commission says were
held in Cuba at the beginning of
this year — 50 fewer than those
counted in January 2006.

Although the number of
political prisoners has dropped,
Sanchez said “low-profile
repression” against opponents is
up.

Fellow commission member
Carlos Menendez was detained
and questioned last week after
using the Internet service at the
US Interests Section, the Amer-
ican mission here. ©

Ernesto Martini Fonseca, a
co-ordinator of the: Christian’
Liberation Movement, was
detained earlier this month and
pressured to abandon his oppo-
sition activities, according to a
news release from the group.

“We don’t feel hatred, but we
are not going to be paralysed
by the threats and repression,”
Oswaldo Paya, the movemen-
t’s most prominent leader,
wrote in the release.

secceccecceccecseceeeuscsescsccecenssneesecseeueeeeceseeeeseeseeeessesershaseseeeseaseaeneeseSGeeseGseDSSeeseneeGenseeeesesee nates eeenensessntnseneeterteeeneesenseeeneet ene ePee ese EhGEe eet ES SSeS eG Eases eens ees Es esas OF eEt AGE eeessEs ens ee ees EF es EEEREEs Ens Enens esses ee Es AE EP EDGES ESE OLE DSASEGOETERESE ESE STOSI OLE GE ODDEST OSES OLEOTO CUES EEE Teet eee eE Cases eens essen ee sas asses ssene essen saneasensenecenere

Carnival reports increase in Caribbean bookings

@ MIAMI

CARNIVAL Cruise Lines
reported Monday a company-
record 28 per cent increase in
reservations for a six-week
booking period, an indication
that lower prices have helped
the company spur demand in
the sluggish Caribbean market,
according to Associated Press.

The world’s largest cruise
brand said net individual reser-

vations from Feb. 5 through
March 18 for its 22 ships were
up 28 per cent compared to a
year ago. Capacity increased 6
per cent during the same period,
which also saw the highest num-
ber of individual reservations
received in any other six-week
span in the cruise line’s 35 years,
the company said.

Nineteen of Carnival’s 22
ships operate in the Bahamas
and the Caribbean, where the

alee ll
Improving On Excellence!

cruise industry has cut prices
and added incentives amid an
overall sluggishness in book-
ings. .
“Clearly consumers are tak-
ing note of the tremendous pric-
ing available right now on our
Caribbean voyages and the
inherent quality and value of a
Carnival cruise vacation,” said
Bob Dickinson, president and
CEO of the Miami-based line.

Industry executives have said

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the troubles in the Caribbean
are a cyclical problem based on
problems in the US economy,
specifically the housing market
and lending issues, that have cut
into consumer travel spending
and affected the middle market
demographic — which Carnival
targets.

While the new booking num-
bers do not mean that the
Caribbean market has recov-
ered, it does show that reserva-

tions were above capacity
growth, “which is good news,”
said Joe Hovorka, an analyst
with Raymond James & Asso-
ciates,

“From an investor’s stand:
point, what you’re going to look
for is, ‘Does this mean prices
are going to stabilise a bit in the
Caribbean?’” Hovorka said.

The company attributed part
of the increase to a one-day sale
event on March 1 that generat-

ed the highest number of indi-
vidual reservations in a single
day. Carnival will offer another
one-day sale event on Thurs-
day, which will include free
upgrades on minimum-priced
balcony staterooms.

Starting prices include $249
for three-day Bahamas cruises
from Miami, and $499 for sev-
en-day Caribbean cruises on a
per person, double cenpaney
basis.

Cola.

Caribbean Bottling Co. (Bah.) Ltd

Has a vacancy for a Laboratory Technician.

Responsibilities include, but are not limited to:

°Verifying incoming materials
¢Microbiological testing
eEnsuring finished product quality

@

The successful applicant will be a highly motivated

individual,

who is able to perform in a fast paced

environment. A minimum of an Associates Degree in
a science related field or prior laboratory experience

essential.

Must be willing to work day, night and weekend shifts

when necessary

Salary will be commensurate with experience.

Please submit written resume to on or before March

30th, 2007, to:

The Human Resources Department

P.O. Box N-1123

Nassau, Bahamas







PAGE 12, TUESDAY, MARCH 20, 2007

THE TRIBUNE





Massive fire destroys

‘Tops Lumber yard —

FROM page one

‘that the operation to com-
pletely extinguish the blaze
‘will continue through today
he said.
Inspector Evans could not
give a definite number of how
many people were at the scene
assisting in extinguishing the
blaze, but estimated that some
“100 persons, including officers
~from the police fire depart-
‘ment, the airport crash and
‘fire rescue department, emer-
‘gency medical personnel as
well as personnel from The
‘Bahamas Electricity Corpora-
‘tion, were there.

Tops Lumber Yard and
Plumbing Supplies reportedly
employed some 50 individu-
als.

Police have not yet deter-
‘mined whether the devastat-
ing fire was an act of arson.

(Photos: Felipé Major/
Tribune staff)


































_ FROM page one

sign the report.

“It demonstrates his disgust with the
methods they (government) were using
to impose their will without any effort
at all to compromise at all, which is
what we did when we were in office,”
Mr Ingraham said.

The FNM leader also said that the
way the boundaries have been cut will
require significantly more ground work
to be done in determining which voters
need to seek out which polling office
come election day.

Tabling the long-awaited report by
the Boundaries Commission yesterday
in parliament, Prime Minister Perry
Christie said that among the proposed
changes is the transfer of polling divi-
sion number three in the Bain and
Grants Town constituency into St
Cecelia.

BDM pledges to stand
up to gerrymandering





Brent Symonette

“This modification reflects the tra-
ditional composition of the environs of
the St Cecelia constituency and trans-
fers back therein the historic St Barn-
abas Church and its environs,” Mr
Christie explained.

However, Mr Ingraham said that it
is changes like these which will increase
the work load of the parliamentary reg-
istrar’s office in the very limited time
before the election.

“A constituency is made up of a num-
ber of polling divisions and a polling
division has a certain number of votes
in it.

“Some of the recommendations sug-
gest that some polling divisions are to
be cut, that produces some complica-
tions because the parliamentary regis-
trar may have to go on the ground



FROM page one

Lynden Pindling threw the Mace
out of the House of Assembly
window to protest the unfair ger-
rymandering of constituency
boundaries of the then United
Bahamian Party (UBP) govern-
ment.

Yesterday, Mr Stuart told the
media that the next general elec-
tion will be filled with confusion
and chaos.

“Today we find ourselves right
where we were in 1962, cheating
to win an election and subverting

the democratic process,” he
said.

The BDM leader alleged that
previous prime ministers have
“cheated and lied” to get where:
they are. According to him, times
have not changed.

The Boundaries Commission
report was to be presented
before the House of Assembly
yesterday.

The Family Island constituen-
cies are expected to remain the
same, but a new seat has beer
created in New Providence,
bringing the number of House
seats to 41.

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physically to check to see who lives on
which side of the road,” he said.

With only a few weeks to go to the
next general election, Mr Ingraham
said, government should have sought
to avoid any changes to the boundaries
which require so much more addition-
al logistical work.

The FNM leader also said that the
report should have been completed in
November — five years after the last
Boundaries Commission report was
presented to parliament — and that he
had never in his political career seen
constituencies determined at’such a
late date before an election.

Nevertheless, the FNM has said it
will do all that it can to expedite the
debate and the passing of the report
in parliament.

“We are only interested in
relative equality and numbers,” Mr
Ingraham said speaking of the bound-
aries. :

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Fouling at 50 per Resort ac

cent of Blue Hills
plant’s units

@ By NEIL HARTNELL
Tribune Business Editor

CONSOLIDATED Water
said yesterday that half the pro-
duction units at its $29 million
Blue Hills reverse osmosis plant
had. experienced water mem-
brane fouling problems, adding
that it now felt “our problems
are in check” and would not
impact service to the Water &
Sewerage Corporation (WSC)
and Bahamian consumers.

Rick MacTaggart,' Consoli-
dated Water’s president and
chief executive, told financial
analysts during a conference call

that the company had experi--

enced “start-up” problems at its
flagship plant that had resulted
in it incurring increased pre-fil-
ter and energy costs as a result
of the membrane fouling.

Mr MacTaggart added that
membrane fouling had impact-
ed “half the production units.
We’ve now isolated the prob-
lem wells and implemented
changes to mitigate the foul-
ing”.

Tribune Business reported
yesterday on how membrane
fouling at Consolidated Water’s
other New Providence-based
reverse osmosis plant, Windsor,
has caused ongoing problems
for the company, seeing it incur
penalties of $367,257, $571,349,
— and $313,408 in 2006, 2005, and
— 2004, respectively for not meet-
ing minimum water volumes
supplied to the WSC.

However, Mr MacTaggart
yesterday said the issues at the

7.2 million gallons per day Blue.
Hills plant would “not impact:

our operations in the Bahamas
nearly as much as they have at
Windsor”. ,

He added that these issues
would have no effect on Con-
solidated Water’s chances of
landing further build/own/oper-
ate contracts from the Bahami-
an government for other
reverse osmosis plants, includ-
ing the proposed 2.4 million gal-
lon per day Winton plant.

BISX-listed-Consolidated
Water says problems ‘in
check’; admits water loss
component of Bahamas
contract ‘unusual’

Pointing to the keynote
speech given by Prime ‘Minis-
ter Perry Christie at the official
commissioning of the Blue Hills
plant last week, Mr MacTag-
gart said the Bahamian govern-
ment’s policy was to continue

the expansion of reverse osmo- -

sis desalination plants through-
out the Bahamas, develop a
long-term management plan for
water facilities and resources,
and adding additional waste-
water treatment capacity.

“The Bahamas is continuing
to present opportunities for us,”
Mr MacTaggart said. “During
that week, the Government
released tender documents for a
desalination plant at the east-
ern end of the island, [which
will supply] 2.4 million gallons
per day to the WSC. Certainly,
we are working on a bid for that
project.”

Wall Street investment and
financial analysts were espe-
cially interested in the terms of
Consolidated Water’s Blue Hills

contract relating to its efforts

to reduce non-revenue water
(NRW) or water leaking from
the WSC’s distribution system.
Mr MacTaggart estimated that
between 40-50 per cent of water
pumped around the WSC sys-
tem every day was lost through
leakages.

Tribune Business revealed
yesterday that Consolidated
Water’s overall gross margin on
water sales from Blue Hills was
“greatly reduced” during the
2006 fourth quarter because,
until it proves it has reduced
water losses from New Provi-

SEE page 6B

Senate

quired 144

Crown Land acres

Documents show pattern of selling Crown Land to developers in recent years,
highlighting need for laws, policies and regulations to govern this area

a By NEIL HARTNELL

Tribune Business Editor

major resort
developer was
granted more
than 144 acres
of Crown Land

’ for a combined purchase price

of almost $650,000, documents
tabled in the House of Assem-
bly by Prime Minister Perry
Christie have revealed, with the
Government granting land to a
number of tourism-related pro-
jects between 1992-2006.

Documents detailing who
obtained Crown Land, where,
the amount of land, and the
purchase price paid, show that
on April 19, 2005, Abaco Land
Ltd - the holding company for
the Abaco Club at Winding Bay
project, which was the brain-
child of entrepreneur Peter de
Savary - made three separate
payments for Crown Land at
Cherokee Sound, Abaco.

The Abaco Club project,
which is now a 50/50 joint ven-
ture with resort chain, Ritz-
Carlton, paid for Crown Land
in three separate tranches.

It acquired 18.02 acres for a





@ CHRISTIE

sum of $81,079; then purchased
a further 54.4 acre block for
$244,786, and finally complet-
ed its Crown Land acquisition
spree by obtaining 72.027 acres
for $324,133. ,
Combined, Abaco Land
acquired the 144 acres fora
price of $4,514 per acre.
Another person who
obtained a large slice of Crown
Land, this time in Exuma, was
Lester Smith, a Bahamian real
estate and property developer,
who ts the cousin of former

Rolleville MP and current
Hotel Corporation chairman,
George Smith.

Lester Smith acquired 71.262
acres on Wax Cay for a sum of
$448,950 paid on November 18,
2005, with the grant drawn on
May 23, 2006. It is understood
that Mr Smith is constructing a
resort development on Wax
Cay, and paid a price per acre
for his Crown Land of almost
$6,300.

His purchase accounts for
almost two-thirds the value of
the $698,620 spent on purchas-
ing Crown Land on Exuma
between 1992 and 2006.

There is nothing to suggest
there is anything wrong with
either the deal to Mr Smith or
Abaco Land, but the issue of
selling or leasing Crown Land
to developers - especially for-
eign investors - has become a
hot issue in the Bahamas, where
the supply of land is in finite
supply.

The increase in resort devel-
opments, especially of the
mxed-use variety in the Family
Islands, where there is a large
residential or real estate com-
ponent, have caused concerns

about whether property prices
and land would be pushed up
out of reach of the average
Bahamian.

What the documents tabled
by the Prime Minister do show,
though, is the need for a
National Land Use Policy and
administrtion better adminis-
tration of Crown and Treasury
Land, so that both Bahamians
and developers alike could see
what land was available and
where to meet their respective
needs.

The Prime Minister tabled
the documents in response to
requests from independent MP
Tennyson Wells, who said he
and some partners were propos-
ing a resort development for
Long Island and wanted to
know whether Crown Land was
available for them to either pur-
chase or lease.

Mr Wells pointed out that if
Crown Land was sold or leased
to Bahamians, they could then
use it as collateral to obtain
financing for business projects.

Interestingly, the documents

SEE page 5B

Abaco Markets to close asset sales by April

Firm makes $1.06m Q4 profit, with full-year continuing operations loss down from $2.1m to $50,000

B® By NEIL HARTNELL
Tribune Business Editor

ABACO Markets is hoping
to complete the last two stages
of its divestment progamme -
the sale of its Turks & Caicos-
based Cost Right store and $2.5
million BSL Holdings stake -
by the end of April 2007, moves

Ae iain Te

DL Onie a rea

oe at

*

16.22%

Last 12 months

that will wipe out its bank debt
following a quarter in which it
made a $1.06 million net profit.

Gavin Watchorn, the BISX-
listed retail group’s president,
indicated to The Tribune that
the company and its long-suf-
fering shareholders were now
starting to see ‘light at the end
of the tunnel’ following four

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successive years of losses and a

major turnaround/asset dispos-

al drive.

He explained that the $2.7
million Cost Right Turks store
sale, coupled with the BSL
Holdings divestment, would
both wipe out Abaco Markets’
debt to Royal Bank of Canada
and bring the divestment initia-
tive to a close.

“That wipes out our bank
debt, and we’re still on track for
the end of March [to complete]
for BSL, and the end of April
for Turks,” Mr Watchorn told
The Tribune. “It’s my expecta-
tion that they will be completed
by those dates.”

Adding that he was “posi-
tive” on the company’s future,
Mr Watchorn said: “Obviously
we have a lot of work still to
do, but we’re happy we’re mov-
ing in the right direction. We
are now seeing the dividends
from our ‘core markets’ and
divestment strategy, and that
should continue into the first
quarter” of the current fiscal
year.

“We believe we made the



& WATCHORN

right strategy decision, and feel
the results are showing that. We
just have to work hard at better
buying and customer service,
and reducing shrinkage, and the
results are showing improve-
ment,” Mr Watchorn added.
For the fourth quarter, which
ended on January 31, 2007, also
the company’s year-end, Abaco
Markets saw net operating prof-
it on continuing operations
increase to $640,000 compared

SEE page 8B

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PAGE 2B, TUESDAY, MARCH 20, 2007

THE TRIBUNE



Election candidates must pay attention to proper disclosure

his week we finally saw
the long-awaited
Boundaries Commis-

sion Report presented to Par-
liament. As the report was
widely leaked the previous
week, it contained no new sur-
prises. In summary, for New
Providence, it provided an addi-
tional constituency, altered the
boundary lines for many more
and created several new con-
stituency names. In Grand
Bahama, some boundary lines
would have also changed, and

for the rest of the Bahamas
everything remained essentially
unchanged.

Public Disclosure

However, the purpose of
today’s column is not to discuss
constituencies and the like, but
rather to discuss public disclo-
sure requirements. In October
1976, the country passed the
Public Disclosure Act, and its
purpose was to ensure that
elected officials and senior pub:
lic officers do not enrich them-

selves at the public’s expense
while holding elected office.

The date of commencement of

this law was January 3, 1977,
which means that we now have
over 30 years’ experience with
the process of public disclosure
declarations.

What is also very interesting
to note is that the Act provides
for fines of up to $10,000 or
imprisonment for periods up to
two years for those failing to
tile. or for those knowingly
making “any false statement in

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such declaration”. In addition

to the above, the Act stipulates: »

“Where the offence involves the
deliberate non-disclosure of the
property of a Senator or mem-
ber of Parliament, the court
shall in addition to the imposi-
tion of a fine or term of impris-
onment or both -

i. If the property involved is
situated within the Bahamas,
declare that it be forfeited to
the Government.

ii. If the property involved is
situated outside the Bahamas,
order that an amount equiva-
lent to the value of such prop-
erty (the value to be assessed
as directed by the court), be
paid by the Senator or Mem-
ber of Parliament to the Gov-
ernment.”

Similarly, the same penalty
(as above) applies to any person
who, after the publication of a
summary of a declaration, “pub-
lishes any statement whatever
challenging the accuracy of that
summary or the honesty or
credibility of the declarant oth-
erwise than by way of complaint
to the Commission”, or “‘makes
any frivolous, vexatious or
groundless complaint to the
Commission in relation to a
summary of a declaration”.

The Act certainly contains
very serious provisions relating
to the filing of information and
public commentary on infor-
mation filed. ‘This leads one to
conclude that the intention was
for strict adherence, while pre-
sumably giving the declarant
protection from unwarranted
public criticism.

But what is the position of
genuine and legitimate com-
mentary that raises questions in



Financial
Focus

’ 5 eles ACitet





the public interest? It seems to
me that if information has to be
placed in the public domain,
why should the public be limit-
ed to challenging the accuracy
only to the Public Disclosure
Commission? This must surely
be counterproductive to the
development of democracy,
good governance and trans-
parency.

In other words, it makes no
sense whatsoever, in my humble
opinion. Could you imagine
such legislative restrictions
existing in the US, Europe or
any other mature democracy?
In its 30-plus years of existence,
I have never heard of the Com-
mission publishing any type of
report summarising the amount
of complaints received, investi-
gated or settled.

Past History

While the intent of this piece
of legislation is noble, I have
often argued that the exercise,
as it has historically been per-
formed, serves little useful pur-
pose at all. The relevance of
what is published generally
seems fraught with inconsisten-
cies and apparent misunder-
standings of basic accounting
and valuation concepts.

The only time I am aware of

‘ when these statements are pub-

lished widely is when candidates
are nominated to contest seats
in Parliament or when appoint-
ed to the Senate. ,

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In Conjunction With

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Leading up to the generat
elections of May 2002, I co-
authored an article entitled The
case for Public Disclosure
reform, which was published in
the Tribune on April 16, 2002.
In that article (which was writ-
ten after the publication of dis-
closure statements), the opin-
ion was that the “disclosure
process as practiced in the
Bahamas (with regard to those
seeking political office) left
much to be desired, as many of
the declarants either did not
know how to - or did not have
the time - to get proper disclo-
sure statements prepared for
publication”.

The public disclosures formed
the basis of much public discus-
sion, and were the subject of
many radio ‘call-in’ shows
where certain disclosures were
publicly questioned, analysed
and, in some instances, even
ridiculed.

' Given the restrictions of the
law, I will make the following
general comments, which are
not related to past disclosures:

* If a person has a term life
insurance policy that pays $1
million upon the death of the
insured, this does not mean that
you have an asset with a net val-
ue today of $1 million.

* The use of ‘estimated val-
ues’ that are not subject to any
common criteria, conventions
or benchmarks can render the
meaning and applicability of
such estimates useless at best.

* At a minimum, one should
ensure that the numbers in the
various columns actually equal
the total shown for that catego-
ry (i.e. basic addition)

* Net worth is equal to total
assets minus total liabilities. It is
simply amazing how many times
this simple formula is misap-
plied.

Recommendations

In an effort to present a bal-
anced view on this topic, it is
important that we either com-
mit to improve the current sys-
tem or suspend it until we are
able to effect such improve-
ments. To this end, I wish to
reiterate the following recom-

_ SEE page 6B |

|0 Weeks of Business Empowerment

pticsenienassciussioenama

Superintendent
Bahamas Customs Department

Vennntategenneepagnnnnanaantnhis mnnbdantnnn shane nananmtentees



ls Thursday February |, 2007
“Empowenng Bahamians -
Global & Domestic Perspectives
COB = Lecture Theatre
Presenter » Mr. Glenn Ferguson

¢ Thursday February 8, 2007

BTV 1. + Old Trai Road
Prasenter « Mr. Daniel Thompson

« Thursday February 15, 2007
Business Mnanee and Venture Caprtal

COB - Lecture Theatre
Presenter» Mt Jerome Gomez



Lo

a Mr. Robert Maynard

| Busnress Planning, Forecasting of Marketing

Mr, William Brown

Chief Customs Officer
Bahamas Customs Department

Import, Export, Customs of
Concessions .

Thursday March 22, 2007
at 7:00 p.m.

The College Of The Bahamas

(Bahamas Tourism Training Center)
(Cecture Theatre)

« Thursday February 22, 2007
Book: Keeping + Accounting for the Business
COB + Lecture Theatre
Presenter « Mr. Christopher Stuart

¢ Thursday March 1, 2007
Business Opportunities in The Bahamas
COB - Lecture Theatre
Presenter» Mr. Benjamin Baikey

+ Thursday March 8, 2007
Forging a New Vien for the Bahaman Investor
COB + Lecture Theatre
Presenters-Messrs Donald Demeritte / Paul Major

» Thursday March 15, 2007
Doing Business veg the Invamet - Posabilinnes
Arfel COB - Lecture Theatre
Presenter » Mr. Dudrick Edwards

A AANA ENS

‘PURPOSE:

Change your buying habits, “BUY to SELL",
become self employed and create wealth.

ra

Schedule of Weekly Seminars ceases

+ Thursday March 22, 2007

Import of Expor, Customs, Concessions
COB + Lecture Theatre
Presenters»Messrs Robert Maynard / Witham Brown

» Thursday March 29, 2007
Beak Keeping Accounting for the Business

COB - Lecture Theatre
Presenter « Mc. Christopher Stuart

« Thursday April §, 2007
Government Regulations and Business License
COB - Lecture Theatre
Presenter - Registrar Representative

« Thursday April 12, 2007
Customer Service - Keeping Them for Life

COB + Lecture Theatre
Professor: College of The Bahamas

Se ANA RA ean APN

‘n sensitize Bahamians of
the business opportunities
available to them now, and |
to encourage them te
exploit such opportunities,
thereby empoweriag them
te become self employed.

February |-Apeil 12, 2007
(See Seiedule Below)
100 pm, Lecture/ Presentation

Interactive Panel Discussion
followed by Entrepreneur
Testimonials and Q&A session,

» The College of The Bahamas |
(Robsusar Fourie Trainisg Ceeter)
(lectere Theatre)



CONTACT: Bahamas Agricultural and Industrial Corporation (BAIC) at 322-3740 or 325-1912

Mr. Lester Stuart / Mr, Le-Var Miller





BUSINESS



Ane CARI RICE ha east Do eee

Che Miami Herald | | TUESDAY, MARCH 20, 2007

THE MARKETS

STOCKS, MUTUAL FUNDS, 8B

DOW 30 12,226.17 +115.76 AA’
S&P 500 1,402.06 +15.11 AA
NASDAQ 2,394.41 +21.75 AN
10-YR NOTE 457 +02 Ad
CRUDE OIL 56.59 -52 6

Stocks
surge on
merger
deals

BY TIM PARADIS
Associated Press

NEW YORK — Stocks
spiked higher Monday as Wall
Street joined overseas markets
in riding a wave of merger news
to bounce back from a losing
week. The Dow Jones industri-
als rose 115 points.

The buyout news, particu-
larly the possibility of an enor-

- mous deal that would unite
Dutch bank ABN Amro Holding
with British bank Barclays, pro-
pelled stocks higher as inves-
tors theorized that companies
remain upbeat about the econ-
omy if they’re willing to cut
new deals. Another deal
announced Monday was oil
field-services company Hercu-
les Offshore’s agreement to buy
drilling contractor Todco for
$2.3 billion in cash.

The advance kicked off an
important week for economic
data; the first reading, a report
from the Chicago Federal
Reserve, said regional manufac-
turing slowed in January. The
market was also waiting for
Tuesday’s start of the U.S. Fed-
eral Reserve’s two-day meeting
on interest rates. While few
expect the Fed will adjust short-

- term interest rates, investors
will be looking for any change
in the central bank’s posture
that could hint at where rates
are headed in the coming .
months.

Given the volatility that has
returned to the marketplace and
the upcoming statement from
the Fed, market watchers aren’t
ruling out more big swings in
stocks going forward.

“{ think the markets are very
sentiment driven. It does also
appear that when the global
markets see recovery in one
area they all seem to move up
and when they see concern in
another market they all seem to
move down,” said Subodh
Kumar, global investment strat-
egist at Subodh Kumar & Assoc.
in Toronto.

The Dow rose 115.76, or 0.96
percent, to 12,226.17, its biggest
one-day gain since March 6,
when the index climbed more
than 150 points.

Broader stock indicators also
rose sharply. The Standard &
Poor’s 500 index gained 15.11, or
1.09 percent, to 1,402.06, and the
Nasdaq composite index
advanced 21.75, or 0.92 percent,
to 2,394.41,

Bonds fell as stocks made
gains. The yield on the bench-
mark 10-year Treasury note
rose to 4.57 percent from 4.55
percent late Friday. The dollar
was mixed against other major
currencies.

The advance in USS. equities

.came as stocks overseas rose
sharply, even after China’s cen-
tral banks raised interest rates
to try to cool the economy.

Overseas, Japan’s Nikkei
stock average rose 1.59 percent,
Hong Kong’s Hang Seng index
advanced 1.65 percent, and the
sometimes volatile Shanghai
Composite Index rose 2.87 per-
cent. Britain’s FTSE 100 closed
up 0.96 percent, Germany’s
DAX index added 1.39 percent,
and France’s CAC-40 finished
up 143 percent.

Advancing issues outnum-
bered decliners by more than 3
to 1 on the New York Stock
Exchange, where consolidated
volume came to 2.67 billion
shares — down from 3.3] billion
shares on Friday, when contract
expirations elevated trading
volumes.

The Russell 2000 index of
smaller companies rose 8.28, or
1.06 percent, to 787.05.



AIRCRAFT INDUSTRY



B Airbus’ 555-seat,
double-decker A380, the
largest passenger plane ever
built, made its U.S. debut
Monday, with planes landing
within 18 minutes of each other
in New York and Los Angeles.

BY RICHARD PYLE
Associated Press
NEW YORK — The latest jet-
liner to claim the title of world’s
biggest passenger aircraft com-
pleted its maiden voyage from
Europe to the United States on
Monday, flying on football field-
length wings and a prayer that the
U.S. airline industry will want to
buy the double-decker jumbo jet.
The four-engine Airbus A380,
operated by German airline Luft-
hansa, touched down at John F.
Kennedy International Airport at ‘
about 12:10 p.m. to the cheers of Claude Lelaie at Los Angeles Inte
onlookers gathered to watch the
arrival. As the plane taxied, a pilot meant to be a statement by its
waved an American flag. Minutes _ builder, the European consortium
later, an Australian Qantas airline now called EADS Airbus, that it
A380, which had taken off from can accommodate vast numbers of
Toulouse, France, arrived in Los travelers comfortably and effi-
Angeles, with just a flight crew ciently.
and no passengers. “We're talking about an air-
The first U.S. flights offered a plane that is representing aviation
chance for Toulouse-based Airbus” in the 21st century in terms of effi-
to show off the jewel of its offer- ciency,” said Jens Bischoff, Luft-
‘ings to potential American buyers hansa’s vice president for the
and to the airports they hope to Americas.
turn into flight bases for the jet. It was one of the highest-profile
The 239-foot-long A380 can seatas maiden voyages since 1969, when
many as 550 passengers, hold the Concorde, the world’s first and
81,890 gallons of fuel, cruise at 560 _ still only commercial supersonic
mph and fly some 8,000 nautical transport, arrived at JFK from Lon-
miles. don. The European-made Con-
Lufthansa Flight 8940 was _ corde was retired from British and

WEST COAST WELCOME: Los Angeles



BRAZIL

Petrobras, partners to

(

buy Ipiranga for $4B

@ Petrobras, Brazil’s In a statement, the buyers called
state-controlled oil company, the deal ‘an important ‘step in the
and two partners agreed to pay reorganization and consolidation of a
about $4 billion for Brazil’s fundamental sector for Brazilian eco-

Ipiranga, eliminating the only nomic growth.” Investors sent Bras-
major oil company not alreadyin kem shares soaring after the deal was
government hands. announced, and Petrobras shares also

: rose.
BY ALAN CLENDENNING The three firms will divvy up Ipi-
Associated Press ranga’s operations, with Ultra taking

SAO PAULO, Brazil — Brazil’s over Ipiranga’s fuel and lubricants
state-run oil company Petrobras and business in Brazil’s populous south
two partners announced a deal Mon- and Petrobras absorbing the business
day to buy Ipiranga, the No. 2 fuel in northern, northeastern and central
distributor and refiner in Latin Amer- __ Brazil. ,
ica’s largest nation, for nearly $4 bil- Petrobras chief executive Sergio
lion in cash and stock. Gabrielli downplayed media specula-

Petroleo Brasileiro and chemical tion that the deal could face a tough
company Braskem will pay about $2.4 ride with Brazilian regulators con-
billion in cash, and fuel distributor cerned that the purchase could give
and refiner Grupo Ultra will issue the state company too much power
new shares for the rest, said Percio de __ over fuel distribution.

Souza, an adviser to the three pur- While Petrobras controls nearly 34
chasers. percent of Brazil’s distribution net-

Minority shareholders of Grupo work now, the number will rise to 38
Ipiranga will have the option of tak- percent under terms of the deal,
ing the shares or cash. When the Gabrielli said.
complex transaction is completed, Braskem and Petrobras will divide
the value of the deal will be “close to Ipiranga’s petrochemical assets, split-
$4 billion,” the buyers said. De Souza _ ting them 60 percent to 40 percent in
did not disclose the amount of debt Braskem’s favor.
that Ipiranga holds. Ipiranga’s oil refining assets will

a aS

ay



AMERICAN DEBUT: The Airbus A380 makes its first approach to Los Angeles International Airport,
Monday, touching down minutes after a sister aircraft landed in New York.

Airbus superjumbo jet
arrives in United States



AL SEIB/AP



MARK AVERY/AFP-GETTY IMAGES
Mayor Antonio Villaraigosa,

rnational Airport.

|
|
left, sits inside the main cabin next to the Airbus A380’s pilot © |
|
{
|

French service in 2005.

EADS Airbus hopes the A380 —
designed to carry more people far-
ther than any plane in history, |
though at subsonic speeds — will |
dominate air travel for the next |
two decades.

Anthony Coscia, chairman of |
the Port Authority of New York
and New Jersey, said Monday’s |
flight marked the beginning of a
new era in meeting the New York |
City area’s transportation needs.

Waiting in the wings, however, |
is Boeing, whose 747 jumbo jet has |
been the world’s principal long- |
haul aircraft for the past 30 years |
and now has competitors to the
A380 in early production. |



3B

INTERNATIONAL EDITION



HURRICANE KATRINA

State Farm
agrees to
re-examine |
claims in
Mississippi

& State Farm will re-examine more
than 35,000 policyholder claims
filed after Hurricane Katrina and
‘make millions of dollars available’
for additional payments, Mississippi
Insurance Commissioner George
Dale said Monday.

BY EMILY WAGSTER PETTUS
Associated Press

JACKSON, Miss. — Mississippi
Insurance Commissioner George Dale
said Monday that he had convinced
State Farm Fire & Casualty Co. to agree
to an “accelerated process to reopen
and readjust all Hurricane Katrina
claims upon request in the Mississippi
coastal counties.’ The decision follows
his agency’s examination of State
Farm’s handling of Katrina claims and
the recent withdrawal of a proposed
class action settlement involving the
insurer. -

Dale said the agreement between his
office and State Farm covers homeown-
ers, renters and commercial claims in
Mississippi’s three coastal counties.
The agreement with the Bloomington,
Ill.-based insurer includes claims that
are in mediation, those that are the sub-
ject of pending lawsuits and those that
already have been settled.

“If they feel like that they were mis-
treated and not handled properly, they
too can have their case reopened and
looked at by additional adjusters,” Dale
said of people who already have settled.

“We anticipate that this will be a
quicker process for the folks on the
coast so that they can get money, addi-
tional moneys in their pocket for the
purpose of rebuilding,” Dale said during
a news conference at his office in Jack-
son.

On March 12, a team of lawyers who
helped negotiate the proposed settle-
ment withdrew their request for U.S.
District Judge L.T. Senter Jr., to approve
the deal. The team — led by led by
attorney Richard “Dickie” Scruggs —
cited a legal “stalemate” and Senter’s
apparent reluctance to sign off on the
settlement. :

Senter had been asked to approve a
settlement calling for State Farm to pay
at least $50 million to policyholders
who haven’t sued the company. That
deal, reached in January, called for State
Farm to reopen, review and possibly
pay 35,000 to 36,000 claims.

“When I learned that the proposed
class action settlement had stalled, I felt
it presented an opportunity to negotiate
with State Farm to bring closure for
coastal policyholders,” Dale said Mon-
day.’



be split equally between Petrobras,
Ultra and Braskem, which is con-
trolled by Petrobras and by Con-
structora Norberto Odebrecht, Bra-
zil’s largest construction company.

Ipiranga is controlled by five fami-
lies who will be bought out in a first
stage of the transaction, the state-
ment said. An offer will then be made
for Ipiranga shares owned by minor-
ity stakeholders.

Ipiranga has 4,240 gas stations
around Brazil — second only to

MAURICIO LIMA/AFP-GETTY IMAGES

ACQUIRED: Brazil’s state-run oil company Petrobras and two partners,
Braskem and Grupo Ultra, agreed Monday to buy Ipiranga.

Petrobras — and produces 650,000
tons of petrochemical resins annu-
ally.

The company had 2006 revenue of
$14.3 billion and earnings of $254.3
million.

Braskem’s American depository
shares jumped 16.1 percent on the
New York Stock Exchange after the
deal was announced, or $2.08, to
$14.96. Petrobras’ American deposi-
tory shares rose 1.9 percent, or $1.60,
to $87.78.

aa



THE MIAMI HERALD | MiamiHerald.com

BUSINESS BRIEFS

e BANKING INDUSTRY

a

—

4 Ned
>



RICK NEDERSTIGT/AFP-GETTY IMAGES

IN TALKS: British bank Barclays has approached Dutch
investment bank ABN Amro with a merger proposal.

ABN Amro, Barclays
in acquisition talks

From Herald Wire Services

ABN Amro (ABN), the Netherlands’ largest bank, and
rival Barclays (BCS) of Britain are in early-stage talks about
a “potential combination,” the banks said.

The disclosures came amid reports that Barclays was eye-
ing a possible purchase of its smaller rival. At Monday’s clos-
ing stock prices, ABN Amro was worth about $76 billion
while Barclays was valued at about $86 billion.

If a deal were struck, it would be one of the biggest cross-
border combinations in European banking history.

e PHARMACEUTICAL

ASTRAZENECA SHARES
SLIP AFTER DRUG NEWS

Shares of pharmaceutical
company AstraZeneca,
which has been trying to
shore up its drug pipeline,
slipped Monday after the
company said a heart dis-
ease treatment was proven
to be ineffective in trials.

AstraZeneca has been
developing the treatment in
combination with Alphar-
etta, Georgia-based Athero-
‘Genics (AGIX), which saw

its shares plummet nearly

60 percent in pre-market

trading in the United States. (1

The aim of the study was
to compare the effect of
AtheroGenics’ AGI-1067
drug to a placebo. The
ARISE phase III trial studied
AGI-1067 in patients with
coronary artery disease.

“The ARISE trial did not
meet its primary endpoint of
a statistically significant rel-
ative risk reduction,” Astra-
Zeneca, Europe’s second-
largest drug maker, said in a
statement.

e TERRORISM

CHIQUITA PLEADS
GUILTY IN PROBE

Banana company Chi-
quita Brands Interna-
tional (CQB) admitted in
federal court that for years it
paid Colombian terrorists to
protect its most profitable
banana-growing operation.

The company pleaded
guilty to one count of doing
business with a terrorist
organization. The plea is
part of a deal with prosecu-
tors that calls for a $25 mil-
lion fine and does not iden-
tify the several senior
executives who approved
the illegal protection pay-
ments. ;

Chiquita has said it was
forced to make the pay-
ments and was acting only
to ensure its workers’ safety.

e PFIZER

LIPITOR TO FACE
MORE PRESSURE

Pfizer’s (PFE) Lipitor,
which has been steadily los-
ing market share, faces more
pressure as health plans
unleash a new wave of pro-
grams promoting the use of
generic cholesterol drugs.

Lipitor’s market slide was
triggered last June when
Merck & Co. (MRK) lost
patent protection on its own
cholesterol-reducing Zocor,
known generically as sim-
vastatin. On Monday, Well-
Point (WLP), the nation’s
largest health insurer,
announced it will offer its
members four months of the
generic drug free. Two
other plans recently
launched moves to promote
generic cholesterol drugs,
joining those initiated since
Zocor’s patent expiration.

e CANADA

NORTEL EXPECTS FLAT
OR LOWER REVENUE

Canadian networking
equipment maker Nortel
Networks (NT.TO) said it
expects flat or slightly lower
revenue this year, a week
after the U.S. Securities and
Exchange Commission filed
civil charges alleging
accounting fraud against
four former Nortel employ-
ees

Nortel — North Ameri-
ca’s biggest maker of tele-

‘phore equipment — -

reported late Friday its

sffnancial results for 2006

and a fourth restatement of
earnings since 2003.

Peter W. Currie, execu-
tive vice president and chief
financial officer, told ana-
lysts Monday that the latest
restatement of results — the
latest in a series arising from
Nortel's troubled account-
ing history, which led to the
firing and USS. civil fraud
charges against a former

CEO and CFO, and ongoing .

regulatory and police probes
of the company — resulted
in total reductions of $65
million in revenue and $69
million in earnings.

e INDIA

MEDIA BUSINESS TO
MORE THAN DOUBLE

India’s media and enter-
tainment business will more
than double over the next

five years to reach $22.5 bil- |

lion, in sales by 2011, fueled
by rising incomes anda
surge in consumerism, a
global consulting firm said.

Sales in India’s media and
entertainment industry
totaled about $10.4 billion in
2006, up 20 percent froma
year ago, said the study,
which was commissioned by
the Federation of the Indian
Chambers of Commerce and
Industry.

e@ CHINA

CABINET OK’S PLAN TO
BUILD LARGE AIRCRAFT

China’s top leaders have
approved a program to build
large commercial aircraft,
lending crucial government
support to plans to chal-
lenge the domination of
Boeing (BA) and Airbus in
the country’s fast-growing
aviation market.

A Cabinet meeting held
last month approved “in
principle” setting up a for-
mal program for domestic to
build large commercial air-
craft, according to a state-
ment on the website of the
State Council Information
Office.

No time frame was given,
but last week a top official of
state-owned China Avia-
tion Industry I, or AVIC I,
said that the company .
planned to start making
large aircraft by 2020.



TAKEOVER OFFER

____!NTERNATIONAL EDITION

TUESDAY, MARCH 20, 2007 | 4B.

Community Health Systems
trumps bid for Triad Hospitals

BY DAVID KOENIG
Associated Press

DALLAS — Community
Health Systems said Monday
it has agreed to buy Triad
Hospitals for about $5.1 billion,
topping a previous bid by pri-
vate-equity buyers.

CHS said the deal would
make it the nation’s largest
publicly traded hospital com-
pany. It would own or operate
about 130 hospitals in 28 states
and control more than 18,700
beds.

Franklin, Tenn.-based CHS
agreed to pay $54 for each
Triad share, a 7.5 percent pre-
mium over an earlier deal that
Triad had accepted from the
private buyout group, CHS
and Triad said. CHS would
also assume $1.7 billion in
Triad debt in the deal.

Triad has 53 hospitals and
another under construction.
They are mostly in smaller cit-
ies. The company also pro-
vides hospital management

MERGER

and consulting services.

Triad, based in Plano,
Texas, had previously agreed
to be taken private for $50.25
per share, or $4.7 billion, by a
buyout group that included an
affiliate of Goldman Sachs and
a JPMorgan Chase & Co. spin-
off. It said it will cancel that
deal as a result of the new
offer.

Shares of Triad rose $2.60,
or 5.3 percent, to $51.96 in
afternoon trading on the New
York Stock Exchange after hit-
ting a 52-week high of $52.20.
Community Health shares fell
$1.13, or 3.1 percent, to $35.67.

The Triad transaction
comes after hospital giant
HCA was sold to private own-
ers for $21.3 billion.

Hospitals are struggling
with flat volumes and more
unpaid bills from uninsured
patients.

Triad signaled last fall that
a sale was likely. The stock has
slumped since mid-2005, and

its largest shareholder, hedge
fund TPG-Axon Capital Man-
agement, has accused Triad of
“remarkably poor financial
analysis” and failing to say
how it would fix the company.

Triad said it paid a breakup
fee to cancel its earlier deal
with GS Capital Partners and
CCMP Capital Advisors but
didn’t disclose the amount. If
Triad was negotiating with
Community by Friday, the fee
could be up to $40 million;
otherwise; it could be $120
million, according to a Triad
regulatory filing.

Community Health is
smaller than Triad by many
measures, including beds and
annual revenue — $4.37 billion
at Community in 2006, versus
$5.54 billion for Triad. Both
favor small towns where there
is less competition.

Triad’s board recom-
mended that shareholders take
the CHS offer. Two inside
directors abstained. If

approved by Triad sharehold-
ers and regulators, the deal is
expected to close in the third
quarter. There is no financing
condition to the sale. CHS said
it has lined up financing com-
mitments from Credit Suisse
and Wachovia Capital Mar-
kets.

Wayne T. Smith, chairman,
president and chief executive
of CHS, said the acquisition
would increase his company’s
size and geographic diversity.

“This acquisition comple-
ments our rural strategy by
adding mid-size markets in
great locations,” Smith said.

Community Health said it
was withdrawing previous
comments about its financial
performance for 2007. Last
month, the company said it
expected to earn $2.30 to $2.38
per share on revenue of about
$5 billion in 2007. Company
officials said they planned to
acquire three or four hospitals
this year.

ServiceMaster to be bought for $4.5B

BY ASHLEY M. HEHER
Associated Press

CHICAGO — Lawn care
and pest control provider Ser-
viceMaster. agreed Monday to
be bought by an investment
group in a cash deal valued at
$4.5 billion, as the company
tries to recover from years of
declining financial results.

Bowing to. shareholder
pressure, the owner of Tru-
Green Lawn Care, Terminix
pest control and Merry Maids
cleaning service announced a
deal with an investment group
led by private equity firm
Clayton, Dubilier & Rice.

The announcement came
nearly five months after the
Downers Grove, IIl.-based
company said it was exploring
strategic alternatives.

The move followed pres-
sure from shareholders Ariel
Capital Management and
Newcastle Capital Manage-
ment to consider a sale or buy-
out.

Under terms of the agree-
ment, ServiceMaster stock-
holders will receive $15.625 in
cash for each outstanding
share, which is a 16 percent
premium over ServiceMaster’s
closing price Friday of $13.47
on the New York Stock
Exchange.

Clayton also will assume
about $1.02 billion in debt.

The deal represents a pre-
mium of roughly 31 pereent
above ServiceMaster’s closing
stock price of $11.90 on Nov.
27, the last trading day before
the company said it would
explore strategic alternatives.

ServiceMaster’s board has
approved the acquisition. Its
stockholders will vote on the
transaction at a special meet-
ing expected to be held in the
second or third quarter.

Once the deal is complete,
Clayton operating partner
George W. Tamke will
become ServiceMaster’s chair-
man, replacing Patrick Spain-

JURY SELECTION

hour, who will stay on as Ser-
viceMaster’s chief executive.

Clayton CEO Donald Gogel
said his firm had been eyeing
ServiceMaster for years.

“We believe the company
will be better positioned as a
nonpublic enterprise to pur-
sue management’s long-term
growth plans and to further
enhance its attractive collec-
tion of market-leading service
businesses,” he said in a state-
ment.

The Downers Grove-based
company, tinged with Chris-
tian tradition, lists as its top
corporate objective to “honor
God in all that we do.”

“Their plan is to work with
the ServiceMaster team to
accelerate growth in each
business unit while maintain-
ing a strong emphasis on the
values that have been the core
of the company,” said Spain-
hour.

Since 2004, ServiceMaster’s
net income has fallen nearly
49 percent to $169.7 million in
2006, even as its revenue
climbed nearly 12 percent.
During the quarter ending
Dec. 31, the company earned
$38.9 million, a 44 percent
increase from the same period
in 2005.

The company is closing its
Downers Grove headquarters
and relocating its-operations
to Memphis, Tenn., where
many of its subsidiaries are
based. The move is expected
to be complete by November.

In 2006, ServiceMaster had
32,000 employees and a net-
work of 5,500 company-owned
and franchise locations.

“To us, ServiceMaster is
the perfect private equity
holding,” Sam Darkatsh, an

‘analyst with Raymond James

& Associates, wrote in a
research note Monday. “Huge,
low-risk cash flows, the ability
to roll up a fragmented indus-
try and/or sell existing busi-
ness lines, no Asian import or





SERVICEMASTER/AP

PRESSURE: ServiceMaster, which owns TruGreen Lawn

Care, Terminix pest control and Merry Maids cleaning
service, bowed to shareholder pressure Monday and

agreed to be bought by an investment group lead by
private equity firm Clayton, Dubilier & Rice.

technological obsolescence
risk, terrific brand names, and
large (read: deep-pocketed)
strategic players who could
ultimately present an end

game (or IPO, of course).”
ServiceMaster shares
climbed $1.68, or 12 percent, to
close at $15.15 Monday on the
New York Stock Exchange.

Ex-Qwest CEO’s trial under way

BY SANDY SHORE
Associated Press

DENVER — The insider
trading trial of former Qwest
Communications Chief Execu-
tive Joe Nacchio got under
way Monday as the judge
began questioning potential
jurors about how they got
their news.

Nacchio, 57, is accused of
improperly selling about $101
million worth of stock based
on internal, nonpublic infor-
mation that the telephone
company was at financial risk.
Qwest soon after became
mired in an accounting scan-
dal and was forced to restate
$2.2 billion in revenue.

Nacchio, who resigned
under pressure in 2002, is
charged with 42 counts of
insider trading for stock sales
that occurred in the first five
months of 2001, with transac-
tions ranging in worth from
$191,000 to $13.6 million each.
Each count carries a penalty of

Four potential jurors were dismissed by late
morning, one for unspecified personal reasons
and the others during questioning about their

media habits.

up to 10 years in prison and a
$1 million fine.

Nacchio’s defense is built
around the argument that Nac-
chio expected Qwest Commu-
nications International to win
lucrative contracts from clan-
destine government agencies
— contracts Nacchio has said
gave him hope for the future
of Denver-based Qwest,
whose territory crosses 14
states mostly in the West and
Midwest.

Nacchio, smiling and
dressed in a gray suit and blue
shirt, arrived at the federal
courthouse about 30 minutes
before the trial was scheduled
to begin.

During the proceeding, he

sat at a table, flanked by his
attorneys, former federal
judge Herbert Stern of New
Jersey and John Richiliano of
Denver.

An unspecified number of
prospective jurors was called
at the start of the process to
select 12 jurors and six alter-
nates. The trial is expected to
last as long as eight weeks.

Four potential jurors were
dismissed by late morning,
one for unspecified personal
reasons and the others during
questioning about their media
habits.

Prosecutors likely will be
looking for individuals who
believe that everyone, from
minimum wage workers to

high-level executives, should
play by the same basic rules
with no breaks or advantages,
says Robert Hirschhorn, a
Lewisville, Texas, jury consul-
tant. “It’s not demographics
that define. decisions jurors
make,” he said recently. “It’s
their value system and their
life experience that is the sin-
gle biggest factor in determin-
ing what verdict they’re going
to return.”

Nacchio’s attorneys will
seek jurors who understand
the complexities of the finan-
cial world and may be more
willing to accept the defense’s
explanation of the stock sales,
California jury consultant
Howard Varinsky said.

U.S. District Judge Edward
Nottingham already has made
certain that none of the jurors
will be current or former
employees of Qwest or people
who have close friends or rela-
tives associated with the com-

pany.



THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 5B



i ee SS eee
Resort
ALWO LI KeLE

TOKO
Land acres

FROM page 1B

tabled did not include some
of the more controversial
Crown Land grants, such as
the 105 acres supposed to be
leased to Discovery Land
Company for the controver-
sial $175 million Baker’s Bay
Golf & Ocean Club on
Great Guana Cay, which
continues to face opposition
- including court action -
from the Save Guana Cay
Reef Association.

Also omitted is the 9,999
acres that are supposed to
be the location for the $1.8
billion Mayaguana project,
a 50/50 venture between the
Boston-based |-Group and
the Government through the
Hotel Corporation of the
Bahamas. The land repre-
sents the Government equi-
ty in the joint venture vehi-
cle, the Mayaguana Devel-
opment Company.

The Government appears
to have adopted the view
that it will grant Crown
Land to developers in situa-
tions where it believes pro-
jects are in the best interests
of the Bahamas and its peo-
ple, boosting economic activ-
ity and creating jobs. Most
Crown Land grants to devel-
opers appear to have taken
place under the current PLP
administration.

Other developers to pur-
chase Crown Land include
RAV Bahamas, the compa-
ny formed by Cuban-Amer-
ican real estate developer
Gerardo Capo for his Bimi-
ni Bay development. Mr
Capo purchased 42.56 acres
on Bimini for $425,600 on
March 1, 2005, with the
grant drawn just over a
month later.

The Emerald Bay Resort
on Exuina also paid $28,100
for 2.811 acres of Crown
Land in the Farmers Hill
area on April 7, 2006. ~

On New Providence,
Kerzner International
acquired 23,186 square feet
on the south shore of Par-
adise Island for $215,000, a
sum paid to the Government
on March 17, 2006







































































Baha Mar ‘not out of
line’ on incentive talks

Harrah’s ‘watching carefully’ $2.4bn
Cable Beach developments

@ By NEIL HARTNELL
Tribune Business Editor

arrah’s Entertain-
ment is “watching
carefully” how nego-

tiations between the Govern-
ment and Baha Nar over the
latter’s $2.4 billion Cable Beach
redevelopment progress,
sources familiar with the situa-
tion told The Tribune yester-
day, with the developers “not
asking for anything out of line”
when it came to investment
incentives.

Contacts close to develop-
ments surrounding the stalled
supplemental Heads of Agree-
ment talks between the Gov-
ernment and Baha Mar said the
developers were seeking invest-
ment incentives based on “an
applicable formula pretty much
agreed with the Government”.

In its weekend press release
explaining why it had not con-
cluded a supplemental Heads
of Agreement with Baha Mar
by March 1, exposing the devel-

oper to the risk that Harrah’s,
its 43 per cent joint venture
equity partner, could exercise
its rights to ‘walk away’ from
the project because the March
15 deadline for their agreement
was not met, the Government
essentially portrayed the devel-
oper as being greedy.

It said Baha Mar was seek-
ing “vastly increased” incentives
in addition to the “already gen-
erous concessions granted”
when it signed the initial 2005
Heads of Agreement with the
Government.

However, sources familiar
with the situation told The Tri-
bune that the statement did not
present the full picture regard-
ing the investment incentives,
as the 2005 agreement was
based on Baha Mar investing
$1 billion in Cable Beach’s
transformation.

NOW HIRING DRIVERS

Are you retired or work night Shift only?
Do you want to make some extra Cash?
$200 - $300 per week

Come Deliver for Domino’s Pizza

If you are:-
° 18yrs. or older

¢ Have a Drivers License & good Driving record
¢ Have your own Vehicle
¢ Great Customer Service Attitude

Then

Benefits

wants YOU!

° Good Health Insurance Plan

e Pension

Come into Abaco Markets Limited
Town Center Mall Office.
And fill out an application Today.
Ph. 325-2122 Fax 356-7855



POSITION VACANCY
MANUFACTURING PLANT OPERATIONS MANAGER

Pepsi Cola Bahamas, an affiliate of Pepsi Americas, Inc., is searching for a
qualified individual to manage its manufacturing operations. This includes
Production, Quality Control, Maintenance, Warehouse, Fleet, and Logistics. (5
direct reports, 30+ indirect reports).

Qualified candidates must posses the following:

Education:

° Minimum Bachelor’s degree in business, operations or related field

Experience:

° Prior leadership, supervisor and coaching experience required. Operations
and distribution experience preferred

Personal:

Results oriented
Strong leadership

Team builder / Team player
Ability to coach and develop people
Excellent interpersonal skills

Process oriented
Problem solver

Ability to multi task

A competitive salary and benefits package will be offered to the successful
candidate. If you are a strong leader/manager capable of multi tasking and are
interested in being part of a dynamic, growing international company, please
mail or email resume to: :

Human Resources Manager

Pepsi Cola Bahamas Bottling Co., Ltd.

P. O. Box N-3004
Prince Charles Drive
Nassau, Bahamas
Fax: 364-2123

*

e-mail: rhonda.rolle@pepsibahamas.com



Major firm in the financial and
legal services industry








Invites applicants for its Abaco office for the function of:

Legal Secretary

¢ Minimum 4 years experience

¢ Knowledge of and ability to prepare legal documentation
° Working knowledge of Microsoft Office

° Good organizational skills

¢ Ability to work independently

° Salary commensurate with experience

¢ Attractive benefits

That investment, according
to the developers, has risen to a
projected $2.4 billion, and Baha
Mar is seeking only an increase
in incentives that is proportion-
ate to the increase in invest-
ment.

Sources said this was “consis-
tent with the formula applied
to other projects”, and Baha
Mar’s single-phase $2.4 billion
commitment was larger than

Reply in confidence to:
Fax (242) 394-8430
SEE page 8B Or email: glosbastian@hotmail.com

MTA SC antl:

This ideal candidate will report to the General Manager. Provides accurate project cost
forecast by assessing actual cost incurred and physical progress achieved for all phases
of a project (Engineering, Procurement, Fabrication, Construction, and Commissioning).






















Duties and Responsibilities:

¢ Provide efficiency control by comparing actual and planned man-hours

¢ Set-up and maintain jobs (i.e. structure and budget in ERP system)

¢ Support Project Managers by collecting all relevant progress and cost data from
Engineering, Procurement, Fabrication, Construction, and Accounting

¢ Consolidate data in Project Cost Report for Project Manager’s review and approval

¢ Prepare project cash flow

¢ Support Project Manager in change order manager

¢ Support Project Manager in contingency management
















Qualifications: .
Bachelors Degree in Accounting or similar field or equivalent combination of education
and experience. Minimum Five (5) years experience in cost accounting and/or project
accounting, budgeting/forecasting. Or, alternatively ten.(10) years experience in project
management. At least Five (5) years of SAGE/Timberline experience is a must.
Intermediate level skills with Microsoft Office Software, accounting, cost control
procedures, analytical and problemsolving skills, effective communication skills both
verbally and in writing, and the ability to plan and manage multiple tasks/projects.
Physical Demands and Work Environment to be reviewed.

jobs@marmatglobal.com
242-363-1279

Please respond by email to:
Fax:



MARMAT
Attn: Office Manager
P.O. Box CR-56766

Nassau, Bahamas

Mail:

DAIHATSU





The all-new, bigger and more powerful 2007 Daihatsu Terios fits
perfectly no matter where you go. This versatile and stylish SUV has
solid suspension and a generous interior and luggage compartment.

The new Terios features a 1.5L engine,
ss automatic trans., AC, power
steering, power windows,
locks & mirrors, radio/CD
player, dual front air
~ bags, anti-lock
» brakes (ABS) &
alloy wheels.



24-month/30,000-mile factory warranty on all new Daihatsu vehicles.

EXECUTIVE
MOTORS LTD

AUTHORISED DAIHATSU DEALER
Available in Grand Bahama at Quality Auto Sales (Freeport) * Queens Hwy, 352-6122 ¢ Abaco Motor Mall, Don MacKay Blvd, 367-2916

Auto Mall, Shirley Street (opp. St. Matthew’s Church)
Open Mon to Fri 8am - 5:30pm
Sat 8am - 12noon

Tel: 397-1700

E-mail: execmotor@batelnet.bs
Parts and service guaranteed







PAGE 6B, TUESDAY, MARCH 20, 2007

THE TRIBUNE



Mn 8 fe) eee
Fouling at 50 per cent of Blue Hills plant’s units

Legal Notice

Notice

CHEPSTOW LIMITED
(In Voluntary Liquidation)

Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned at Ocean Centre, Montagu Foreshore, East Bay Street,
PO. Box N-3247, Nassau, Bahamas as sole Liquidator on or
before the 30th day of March, 2007. In default thercof they will be
excluded from the benefit of any distribution made by the

Liquidator.

Dated the 16th day of March 2007,

Lynden Maycock
Liquidator

Legal Notice
NOTICE
CHEPSTOW LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) CHEPSTOW LIMITED is in dissolution under
the provisions of the International Business Companies
Act 2000.

The dissolution of the said company commenced

on the 16th March, 2007 when the Articles of
Dissolution were submitted to and registered by the
Registrar General

The Liquidator of the said Company is Mr. Lynden
}

Maycock of Ocean Centre. Montagu boreshore

East Bay Street, Nassau, Bahamas, as sole Liquidator.

Dated this 16th day of March 2007.

H & J Corporate Services Ltd.
Registered Agent
for the above-named Company



Assistant Manager

Position Available Immediately
At
Domino’s Pizza

Oualtications:

¢ You should have a High School Diploma

° Past managerial experience», :

° Certificate in Management is a plus

¢ Must be available for day and night shifts,
including weekends

¢ You should demonstrate strong communication,
leadership, motivational and people management
skills

¢ You should have a valid driver’s license

° You must have a GREAT attitude towards
customer service!

Basic responsibility to include:
¢ Maintain product, service and image standard
¢ To assist in supervision of all phases of
production.
* To maintain a high level of efficiency &
productivity in all areas of store operation

Please send résumé on or before ;
October 2, 2006
Attention: Human Resource Department

P.O. Box SS-6704

Nassau, Bahamas

Or Fax 356-7855









Pricing Information As Of:

S2wk-Hi S2wk-Low
Abaco Markets
Bahamas Property Fund
Bank of Baharnas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bant«
Consolidated VvYater BDRs
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson
Premier Real Estate.

y

Bahamas Supermarkets
Caribbean Crossings (Pref) 8.00
RND Holdings | 0.45

ee Colina Qver-T

B 41.00
Bahamas Supermarkets 14.60
10.60 RND Holdings 0.45








Fund Name NA V
T3312 1.1273 nay Markel Fund 1 434194
3.09868 2.6662 ‘
2.6254 2.3342 Sf )
1.2338 1.1592 Colina Bona é Fund 1.233813°°""
11. sos 10.0000 _Fideli 11.3945*"***

Prime Income Fund





ISX ALL



FROM page 1B

dence’s water distribution sys-
tem by 438 million gallons per
year, it has to supply 1.2 mil-
lion free gallons per day to the
Water & Sewerage Corporation
(WSC).

Some $1.7 million in sales
made by the Blue Hills plant to
the Water & Sewerage Corpo-
ration during the three months
to December 31, 2006, were
“made at essentially a break
even gross margin”.

Until it can prove that it has
achieved this reduction, Con-
solidated Water is required to
provide 1.2 million US gallons
of water per day to the WSC
from the Blue Hills plant at no
cost to the WSC, increasing
plant operating costs.

Mr MacTaggart denied that
the issues associated with Blue
Hills would give rival bidders
on the Winton contract, plus
the reverse osmosis plant
planned for Perpall Tract,
“ammunition” to use against his

company.

“What’s happening at Blue
Hills is not impacting our ser-
vice to our customer,” he said.
“They really don’t have any
ammunition they can use.
We’re really providing world-
class service and not falling
short of our contract obliga-
tions.”

Operating

‘Mr MacTaggart said Consol-
idated Water had seven to eight
years of experience operating
in the Bahamas, and could
leverage this to its advantage in
bidding on new projects.

Whereas competitors, seeing
the issues in the Bahamas,
might have “pause for thought”
and realise they had better
understand fully the operating
environment before making a
bid.

On the NRW aspect of Con-
solidated Water’s contract, Mr
MacTaggart declined to disclose
any figures on how close the





he-Counter Securities
43.00
15.50



“BISX Listed Mutiial Funds”
Des

NOTICE

NOTICE is hereby given that JAMES JULMIS OF
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 13th day of
March, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

om crtotee,

“OFFICE SPACE FOR LEASE

a5

ames

ue ss of office space
Retr. for lease.

eee eee

8

Adequate parking and 3
infrastructure in place. 3

o
a!
o
7

Please call 326-5205|

”
=



"a
Ce eee ee eee ee ee!

FOR SALE

TWO (2) PIPER AZTECS - 5 Seater Aircrafts

Owner asking $220,000 (ONO) for both Aircrafts as is.
The Aircrafts can be viewed at
Executive Flight Support, Nassau Bahamas

For further information or inspection call (242) 377-1256.



0. 998
0.118
0.295
0.552
0.779
0.921
1.644
-0.434
0.532
0.588
1.269



41.00 2.220 0.000 19.4 0.00%

14.00 1.770 1.320 8.3 9.04%

0.45 a -0.070 0.000 N/M 0.00%
Last 12 Months Div $ Yield %

-) PINDEX: CLOSE 791.62 /YTD 06.67% / 2006 34.47%



MARKET TERMS YIELD - last 12 month dividends divided by closing price NAV KEY
S2wk-HI - Highest closing price in last 52 we Bid S$ - Buying price of Colina and Fidelity
52wk-Low - Lowest closing price in tast 92 ~ I t f nd ficelit *-9 March 2007
Previous Close - Previous day's weig! '
Today's Close - Current day's weighted price fur lrading volume of the prior w * - 8 February 2007

Change - Change in closing price from day to day

Datty 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 earnings



OTRABE CALL: CO

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

*- 34 January 2007
* - 28 February 2007

wry 2007



company was to meeting its
contract target, saying it was all
based on “quantity balances
agreed with the Government”.

He acknowledged, though,
that the NRW component of
the Blue Hills contract was not
normally included in such pro-
jects.

“T’s say it’s fairly unusual for
this sort of business,” Mr Mac-
Taggart said. “We did it to be
competitive with some other
people offering similar services
to the project.

“The Government is very
keyed in on their losses, and we
saw it as a value-added service
to get the Blue Hills project.”

Consolidated Water expects
to meet the NRW requirement
and prove this to the WSC in
the 2007 third quarter.

Mr MacTaggart said Consol-
idated Water “knew it was
going to be a pretty big project”
in terms of reducing water loss-
es from the WSC’s New Provi-
dence system, but added that
when the NRW component was

finished, it might give the com-
pany a competitive advantage
on other contracts by giving
them knowledge of where the
“bottlenecks are in the system”.

Hoped

Mr MacTaggart said Consol-
idated Water hoped it would
have the chance to provide fur-
ther consulting services to the
Government on reducing its
NRW losses.

He added that the company
was not fixing the leaks it found,
but was instead identifying
them, paying for and installing
monitors and valves, and advis-
ing and changing the WSC
operated the system.

Among Consolidated Water’s
major competitors for the future
contracts in the Bahamas, Mr
MacTaggart said, were GE and
Veolia. The latter had teamed
up with BK Water, the Bahami-
an investor group, and Sable
Bahamas to bid on the Perpall
Tract plant.

Election candidates, trom 28

mendations:

1. That the Public Disclosure
Commission (PDC) publishes
guidance notes to assist in the
completion of the required dis-
closure statement. I searched
the Internet only to discover
that the PDC does not have a
website. In fact, the official gov-
ernment website is still show-
ing the‘members of the PDC
whose term of office ended on
June 30, 2002.

2. That there be a require-
ment to have the disclosure
statement signed-off by a mem-
ber of the Bahamas Institute of
Chartered Accountants (BICA)
or other suitably qualified pro-
fessional, attesting to the rea-
sonableness of valuations for
securities and real estate.

Conclusion

Hopefully, by writing this
article prior to the compilation
and publication of disclosure
statements, I might contribute
to the improvement of the
process. I am encouraging the
major political parties to coor-
dinate the filing of the disclo-
sure statements by their candi-
dates, in an effirt to ensure they
reflect well of the declarant by
being properly completed and
devoid of basic, fundamental
errors. These not only reflect
negatively on the.candidate but
also upon the party they repre-
sent.

The country should be spared
from the prospect and embar-
rassment of simply ‘silly’ filings.
If the public cannot have confi-
dence .in filed statements, why
should they have confidence in
the declarant? I can remember
being very embarrassed by the
poor reflection cast upon the
quality of our political candi-
dates, based simply on the
absurdity of some of the filings.
The publication of disclosure
statements should not mark the
official opening of ‘comedy séa-
son’. .

I challenge all candidates to
ensure that whatever they file is
at least completed, and proper-
ly checked for basic errors.

Until next week...

NB: Larry R. Gibson, a Char-
tered Financial Analyst, is vice-
president - pensions, Colonial
Pensions Services (Bahamas),
a wholly-owned subsidiary of
Colonial Group International,
which owns Atlantic Medical
Insurance and is a major share-
holder of Security & General
Insurance Company in the
Bahamas.

The views expressed are
those of the author and do not
necesserily represent those of
Colonial Group International
or any of its subsidiary and/or
affiliated companies. Please’
direct any questions or com-
ments to rlgibson@atlantic-
house.com.bs

LEGAL NOTICE
NOTICE

IN THE ESTATE OF AVERY HAMILTON BETHEL late of White
Sound Subdivision on the Island of Elbow Cay aka Little Guana
Cay one of the Cays of the Abaco Range of eae in the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that all persons having any claim or
demand against the above Estate are required to send their
names, addresses and particulars of the same certified in writing
to the undersigned on or before the 20th day of April, A.D., 2007
and if required, to prove such debts or claims, or default be
excluded from any distribution; after the above date the assets
will be distributed having regard only to the proved debts or
claims of which the Executor shall have had notice.
And Notice is hereby given that all persons indebted to the said
Estate are requested to make full settlement on or before the
3rd day of April, A.D., 2007.

SYDBRI LEGAL SERVICES
Attorneys for the Executrix
iNaomi House
No.9, gt Terrace & West Court
Off Collins Avenue
P.O. Box EE-15075
Nassau, Bahamas

AUTO

SERVICE VACANCY

Freeport automobile dealership is looking for
an energetic person to fill the position of

SERVICE WRITER/

ADVISOR



in our Service Department. Prospective
applicants should possess similar work
experience with some training in customer
management relations. Intermediate
computer skills are a must.

Please apply in writing to:
Service Advisor
P.O. Box F-41060
Freeport, Grand Bahama

SSSR SRN as 2



Re SURES ime eS Cer ews. Ute UNE



THE TRIBUNE BUSINESS

COMICS PAGE

TUESDAY, MARCH 20, 2007, PAGE 7B





JUDGE PARKER

WE'RE IN NO HURRY TO FILE!
BESIDES, SOMEONE WANTS
TO TALK TO




Tribune Comics

RANDY,
IT'S NOT
HORACE!










MEEK AND MILD-MANNERED
CAININ DUCKS INTO A P
NEARBY CLOSET AND

TRANSFORMS HIMSELF INTO...

AIN NAPALM

OF THE AMERICAN WAY!
ENDOWED WITH SUPERHUMAN ¢







YOU FIRST!





IT'S THE
MAN YOU'RE GOING

Be ) a
i f Bam, I DON'T WANT TO SEE
TO REPLACE!

HORACE RILEY RIGHT NOW!



APARTMENT 3-G

TOMMIE, 1 NEED YOUR HELP) WHAT DO
BUYING A GIFT FOR ERIC,7 YOU HAVE| Ca COul AE LAME
tin XIN MIND ? ;












SOMETHING THAT SAYS:
YOUR SMOLDERING EYES

















BIG SMILE, DAD! I WANT TO TAKE | [ THANKS, IT ISN'T EASY BEING A SPORT
A PICTURE OF YOU WITH MY OAD, YOU'RE WHEN YOU THINK SOMEONE
NEW PHOTO PEN } A SPORT MIGHT BE PUTTING
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: $752
The bidding:
West North East South
Pass 1NT Pass 49

Opening lead — queen of diamonds.

When declarer has a choice of
plays to make, the order in which he
makes them is often of critical
importance.

Here is a typical situation. South
wins the diamond lead and has three
different plays to consider. He can
take a spade finesse, a heart finesse
or lead a club to the king.

Since there is no urgency about
leading spades or clubs, South starts
by taking a trump finesse. If West has
‘ffthe king, South’s troubles are over.
However, East wins dummy’s jack
with the king and retums a diamond.






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HOW many words of
four letlers or more
can you make from
the letters shown
here? In making a
word, each letter may
be used once only,
Each must contain the
centre letter and there
must be at least one
nine-letter word. No
plurals or verb forms
ending in “s”. no
words with initial







V0GS ARE VERY
GOOD AT FICKING
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T UKE ViIMeES
AND QUARTERS



a es permitted,
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in inkjet printer).

TODAY'S TARGET

‘Da00T by King Pearures Byrctcte, re, Wore ghia reserved. |. Solution tomorrow,

yo CRYPTIC PUZZLE

ACROSS DOWN

4 Getting me into mistreatment, but not 1 Sort of song or light orchestral
lately! (2,4) piece (5)

2 Teamina rout, perhaps, not likely to 2 Thanks to being in the wrong, a bad
win! (8) mark (5) :

3 Fishy old weapon? (4)
An ear, perhaps, for music (5)
It's bound to be Edward getting out of
line (4)

8 Gathers from various angles (6)

10 It's said to be cold in the country (5)

13 Reputed to give a slow starter
ahand (4)

14 Aflat stone and a hot one (4) 6 — Servant taking the meal in? (6)

15 Finished with nothing in the end, 9 Asound leader in the world
unfortunately (4) of music (6)

16 Bad actor, but le gets a bit of 11 The way a useless house still has.
applause in Clapham (3) point (3)

47 Not much of a partner for Jerry (4) 12 There's money to gain, you'll find (5)

13 By whatever means, ring me to be in
the show! (7)

19 Inireland, a meeting witha
Welshman at the rail terminus (4)





TARGET

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capitals and no words with a hyphen or

word of a phrase is permitted (e.g. inkjet

Good 42; very good 63; excellent 83 (or more).

“THATS A RECORD! ONLY NINE A.M. AN”
MR.WILSON’S ALREADY MAD.”

Declarer wins, plays a trump to the
queen and ruffs a diamond. This
brings him to the point where he
must decide whether to broach the
clubs or spades next.

It should not take South long to
see the advantage in leading a spade
and finessing the queen, even though
he has only a singleton spade. In the
actual deal, the spade finesse wins
and assures the contract, since South
can discard a club on the ace of
spades. He later loses two club tricks,
but winds up making four. However,
as can be seen, if declarer tackles
clubs ahead of spades, he loses three
clubs and goes down one.

There are two good reasons for
taking the spade finesse before lead-
ing clubs. First, it costs nothing to try
the finesse. If it is unsuccessful,
declarer loses a spade trick unneces-
sarily, but is sure to get the trick back
because the ace of spades is still
available to take care of one of his
club losers. The transaction amounts
to an exchange of losers.

But the chief reason for playing
spades first is that if the finesse fails,
South retains his chance that West
may have the ace of clubs, while if
he tackles clubs first and the ace is in
the wrong hand, he goes down with a
club retum by East. By tackling
spades before clubs, South thus gives
himself two chances to make the
contract instead of just one.

chore chronic CHRONICLE cloche clone coil

coin coiner coir cole colic con
core corn cornice crone echo

hero heroic heroin heron hole
loner lore noel ochre ailer once orie

honer horn icon iron lino lion loc
rhino roil role

chlorine choice choicer_chi

YESTERDAY’S SOLUTION










My

word




A group of
people working
together to
bring about
some one thing

Vladas Mikenas v David
Bronstein, USSR championship
1979. Aking on the back row
behind unmoved pawns
becomes a prime target if the
game simplifies down toa
position like today’s with
roaming queens and rooks.
Bronstein, the world title
challenger who died recently,
considered this one of his best
finishes, particularly since
Mikenas’s defence looks solid.
Black would like to play
1...Qe1+ 2 Rxe1 Rxe1+ 3 Qf1
Rxf1 mate but 2 Qf1! is a simple





POWERS, HE QUICKLY... }

GBs RE oe ae oe

TUESDAY,
MARCH 20
ARIES — March 21/April?20

er-escac

| Focus less on career relationships

and more on friendships: based on
mutual values and beliefs. Now§s the
time to slow down enjoy life at an
easier pace. j

TAURUS -— April 21/May2
Well, Taurus, now’s the time to Hress
to impress if you’re determined to
move up in the world. Don’t trydo be
something you’re not, but do §how
others what you’re capable of. «

GEMINI - May 22/June 21
This is one of the most positive times
of the year for you. Smile and flon’t
be afraid to walk with your heackheld
high. You can do no wronggthis
week, Gemini... t
CANCER - June 22/July 22
Money’s on your mind this week,
Cancer, You’ve been distracted as of
late, and have neglected your:cash
flow situation. Don’t worry — you’ll
soon be able to make up any short-
falls in your accounts. :

LEO - July 23/August 23. -
This promises to be a wonderful week
for you, Leo, ‘as you’re feeling particu-
larly amorous. Treat that special some- ”
one to a romantic dinner night out on
the town. It will definitely he worth it
VIRGO — Aug 24/Sept 22;
The sign of-health, you're irt the
mood to improve your fitness
level, Vitgo. A change of diet and
exercise routine is a must if ygu’re
to remain interested. :
LIBRA — Sept 23/Oct 23 |
Forget about the past and all that’s
gone wrong in it, Libra. Many things
are set to go right for you in the'next
couple of weeks. Loosen up and
enjoy it!

SCORPIO — Oct 24/Nov 22
Focus on what’s important to you
this week, Scorpio. You could miss
out if you spend too much time wor-
rying about minor setbacks in recent
weeks. Take it easy. 1
SAGITTARIUS — Nov 23/Det 21
You may be feeling more relaxed
than usual this week, which is great
because the more you sit back and let
life come to you, the more you'll ;
enjoy every day. Money problems
will cease to bother you by Thursday.
CAPRICORN -— Dec 22/Jan 20
Over the next four weeks or so,
youll consolidate what you have
gained and make it permanent. You
should make time to enjoy it, you’ve
certainly worked hard enough. +

t
AQUARIUS — Jan 21/Feb 18
What goes around comes around, so
think before you speak. There/s no
better time than the present to decide
what you want most out of life and
make it your own. ‘
PISCES — Feb 19/March 20
Profit and popularity are important,
but peace of mind is even more so. If
you have any nagging doubts about
your personal or professional relation-
ships, confront them now

4

et aS) Leonard Barden

«



21 Not, specifically, highly valued? (9) 15 Will one physici 114. sfora
23 Abribe to stop something hundred? (3)
getting out (4) 16 Property of a fellow British
24 That woman's contradiction of “16 islander (3)
Down" (4) 18 |s Gert upset by their fierceness? (6) ACROSS on Su
26 Ithas the ability to preserve (3) 20 As specified, it's na liability (5) : deerseen (6) : a
27 East to north, it's on the Thames (4) 21 Puny joke? (3) ae 1 : ) 3 Employer (4)
29 Always included in 22 Half length chap? (3) 10 Glowing coal (5) 4 — Noblemen (5)
severance pay (4) 23 Ron takes a horse around a lordly 13. Fall (4) 5 Harvest (4)
32 Atthe front, i's both qui domain (6) Lid 14 Prophet (4) 6 Type of fuel (6)
i i ——l 15 Compass point (4) 9 Decayed (6)
and noisy (4) 25 Fora bighead, for instance, a N 16 Marry (3) 11 Encountered (3)
os Bur one May Rete touching thing t0 do? (3) SS 17 Coral ridge (4) 12. Mistake (b)
coach (5) 28 It's a pound for a child, that’s all (5) Oo. 19 Follow (4) 13. Sullied (7)
34 Trouble the medical officer just in 30 Figures out Ali as genuine (5) > 21 Land mass (9) 15 Moist (3)
31 Leather checkers (5) 23 Section (4) 16 Humour (3)
ae i : : ” 24 Yearn (4) 18 Necessitate (6)
35 By which would-be parents 32 Lucre quielly acquired by a pixie (4) << 26 Policeman (3) sieoorar Gi
nowadays have a choice (8) 33 Take refreshment in the style Lu 27 Copied (4) 37. Headwear jiem (3)

36 Is lris abit of one? (6)

of puss (4)

NE HA

resterday’s cryptic solutions

ACROSS:1, H-arrow 7, Receiver 8, To-me 10, Triton 11,
A-rrive 14, Me-W 16, Tales 17, De-ed 19, M-one-y 21,

Damon (nomad) 22, Toy-Ed 23, Plea(-sure) 26, An-ton 28,

Ml-a 29, Stoned 30, Wal-nut 31, He-L-'d 32, Di's-taste 33,

Ne-we-st

DOWN: 1, Hal-Ted 2, Rooted 3, Wren 4, Hearten 5, Avail 6,

Tries 8, Ji-me 9, Mow 12, Ray 13, Verve 15, W-omen 18,

Event 19, May 20, No.-D 21, Done-gal 22, Ton 23, P-ill-OW

24, La-N-d 25, Artist 26, A-side 27, Torso 28, Mae 30,

When

resterday’s easy solutions

ACROSS: 1, Dredge 7, Deleated 8, Give 10, Craven 11,
Finite 14, Let 16, Cured 17, Dial 19, Pecan 21, Melon
22, Merit 23, Chew 26, Pagan 28, Era 29, Alerts

30, Emerge 31, Nude 32, Marooned

33, Suture

DOWN: 1, Danced 2, Drivel 3, Eden 4, Pelican 5, Stair 6,

Idled 8, Gala 9, Vet 12, Nun 13, Terse 15, Relic 18,

Ideal 19, Per 20, Cot 21, Mention 22, Mar 23, Credit 24,

Hare 25, Whence 26, Palms 27, Genre 28, Emu 30,

| Ends

29 Eye-piece (4
32. Bound (4)
33 Principle (5)
34 Entertain (6)
35 Worker (8)
36 Anxiety (6)

Signal assent (3)
Powertul (6)
Number (3)
Rinds (5)
Access (5)
Wading bird (5)
Story (4)
Accepted (4)

competitive play, you can take part ,
in simuls against masters, watch
top tournaments, and register for
lessons. There's a free seven-day
trial.

counter. Meanwhile, White’s b4
rook threatens Rxb6 winning a
pawn. What should Black play?
If you want to improve your web
chess game, check out the
Internet Chess Club

(chessclub.com). Besides LEONARD BARDEN |





*
Chess solution 8326: 1...Rxa3! and White resigned
If2Rxa3 Qel+ or 2Qxa3 Qels or 2bxa3 Qxal* 3Rb1
Rel+. Meanwhile the a3 rook menaces the al rook and
the d3 queen, su Black mates or gains decisive
material.
Mensa quiz: Butlery, buttery, button and buttress
One possible word ladder solution is: SENT, pent,
pelt, melt, malt, mall, MAIL.





PAGE 8B, TUESDAY, MARCH 20, 2007

- SITUATION VACANT

TRAINED AUTOMOTIVE
TECHNICIAN

experienced in American, Japanese
and Korean vehicles needed

















Applicants must be familiar with automotive
computer analysis systems and preference will
be given to applicant with proven dealership
experience. References as proof of good work
relationships must be supplied.

Apply in person or in writing to:
Manager
QUALITY AUTO SALES
(FREEPORT) LTD.
Queens Highway
P.O. Box F-42405
Freeport, Grand Bahama

MAINTENANCE/HANDYMAN
WANTED

A leading retail company has an immediate opening
for a Maintenance/Handyman

BASIC REQUIREMENTS

1. Should have a basic working knowledge electrical,
plumbing and general carpentry repairs.

2. Must have a clean current Police Record

3. Must be a self-starter with drive and determination

4. Must be able to work with minimum supervision.

5. Previous experience not required but would be an
asset.

Persons meeting the above requirements should submit
their Resumes via fax to the address below.

The positions offer career opportunities with excellent
salary and benefits package.

.

THE OPERATIONS MANAGER
Fax: 328-5902



THE TRIBUNE ..

Abaco Markets to close asset sales by April:

FROM page 1B

to the $161,000 realised one
year ago.

Sales at continuing opera-
tions, which include the com-
pany’s Solomon’s SuperCentre
and Cost Right outlets in Nas-
sau and Freeport, plus Cost
Right Abaco, rose by 6 per cent
in the fourth quarter to $22.1
million.

The net profit of $1.06 mil-
lion compared to a $301,000 loss
for the fourth quarter in the
year ended on January 31, 2006,
while earnings after bank inter-
est payments for the 2007 peri-
od stood at $297,000, compared
to a $233,000 loss the year
before.

Mr Watchorn revealed to The
Tribune that for the full-year to
January 31, 2007, Abaco Mar-
kets would show a small oper-
ating loss on continued opera-
tions of $50,000, but this paled
against the $2.1 million loss seen
the year before. °

After bank debt interest pay-
ments, Abaco Markets would
see a $1.5 million loss, yet this

was less than half the $3.9 mil-
lion experienced in fiscal 2006.
“We intend to lose a lot of
that interest expense this year
with the pay down of bank
debt,” Mr Watchorn added.

For the full-year to January
31, 2007, Abaco Markets saw
sales at continuing operations
rise by 6 per cent, while it was
able to reduce expenses by “a
couple of hundred thousand”.
As a result, sales, general and
administrative expenses
“improved substantially”, Mr
Watchorn said, while Abaco
Markets also saw some
improvement in its margins.

Abaco Markets said its Board
of Directors had chosen to con-
vert Cost Right Abaco to the
full Cost Right model rather
than seek to sell it.

The company said the con-
version would take place in two
phases, the first phase focusing
on an adjustment of product
mix and improving the shop-
ping experience by installing
air-conditioning and upgrading
the premises. The second phase
will involve providing a full
assortment of perishable prod-

ucts, including a full line of pro-
duce and meat and chilled and
frozen departments.

Mr Watchorn told The Tri-
bune: “We feel there’s an
opportunity in the market there.
We looked at the options avail-
able to us, and felt initially that
by making a small investment
commitment, we have an
opportunity to get a successful
store operating there.

“We have changed almost
completely away from the
wholesale model. We don’t
want to lose our wholesale cus-
tomers, obviously, but are going
to convert to the full Cost Right
model.”

The Board decision has
allowed Abaco Markets to take
back provisions previously
made for the store’s divestment.
The company wrote back
$602,000 in reserves during the
fourth quarter that were previ-
ously recorded as a $1.5 million
charge in the first quarter. A
small percentage of that related
to Cost Right Abaco, with the
rest coming from selling assets
at better prices than estimated
for.

Abaco Markets also gained
$152,000 on the sale of its Cedar
Street property in Freeport, and
Mr Watchorn said the company
felt its Cost Right Freeport

.store could be relocated there

“a little bit sooner” than early
summer 2007, as it was “ahead
of schedule” on that project.

“Cost Right Freeport has out-
grown its current location,” said
Mr Watchorn. “The business
there is expanding and we are
looking forward to opening a
Club model back at Cedar
Street — a location originally
designed for that type of busi-
ness and one in which we will be
able to offer Grand Bahamians
more products and even more
value.

“The key for our group has
been focusing on the basics to
improve our customers’ expe-
rience, reduce shrink and loss
and damage, an ‘ncrease same
store sales. Certainly, there is
still work to be done in our con-
tinuing operations, and we are
committed to building on the
steady improvements and sus- -
tained progress we have seen
over recent quarters.”

Baha Mar ‘not out of line’ on incentive talks

FROM page 5B

what Kerzner International had done in
one phase on Atlantis, the project having
been touted as the largest resort invest-
ment in a single phase in the Western Hemi-
sphere.

Despite what Baha Mar is seeking,
sources Said that if the formula agreed with
the Government was applied, the ratio
between investment incentives to invest-
ment by the developer would remain the
same for the $2.4 billion project as the $1
billion project.

“You ensure the percentages are the
same under the agreed upon formula,” a
source told The Tribune. “If you apply the
formula to the increased incentives, you
get the same ratios. Baha Mar feels it’s not
asking for something out of line.”

In its release, the Government said it had
communicated to Baha Mar three weeks
ago that the developer would need to seek
an extension to the March 15 deadline for
completion with Harrah’s, saying this was
not unusual for a development such as this.

FIRSTCARIBBEAN

INTERNATIONAL BANK
- CAREER OPPORTUNITY

for

Treasurer — Bahamas and Cayman Operating Companies
Treasury Sales & Trading (TST)

Key Activities and Deliverables:

The Treasurer is a senior member of the TST leadership team that provide
best-in-class Balance sheet management, TST control and TST dealing support for
the FirstCaribbean Group. A key focus for TST is to enhance Group interest income
and develop / market TST products to the countries’ largest and most discerning

clients. Countries include: Bahamas, Turks and Caicos, Cayman, British Virgin

Islands, St. Maarten, and Curacao.

Successfully manage and extract maximum value from business projects and process
improvement initiatives designed to strengthen the operational infrastructure of

FirstCaribbean TST

Build and improve the organizational structures and delivery platforms that support

the FirstCaribbean TST model and product lines

Manage to successful completion, business projects and process improvement
initiatives, designed to strengthen the operational infrastructure of FirstCaribbean

TST.

Develop effective partnerships with all functional groups including Marketing,
Finance, Human Resources and Operations & Technology that directly benefit TST

activities, customers and day-to day operations.

Key result areas include: balance sheet & liquidity management, product
sales/marketing function, product structured support, governance and market

risk

Qualifications/Experience:

Yet The Tribune was told that while one
government official had suggested a three-
week extension to the Harrah’s agreement
might be necessary, subsequent to that Baha
Mar was reassured by a number of govern-
ment officials that the March 15 deadline
was “achievable”, encouraging the devel-
oper not to negotiate an extension.

“T think the conversations they have had
with Harrah’s indicate that Harrah’s would
like them to draw this project to a conclu-
sion,” one source said. “They’re watching

this carefully, but have given no indication ~

yet they’re going to pull out of the project
altogether.”

Baha Mar is understood to believe it has
fulfilled all the conditions precedents oblig-
ations in its Heads of Agreement with the
Government, namely equity requirements,
financing and world-class casino and hotel

brands in the shape of Harrah’s and Star- ©

wood.
The developers met with the Govern-
ment as far back as January to reassure

‘them that the conditions precedent had

been met, and are now keen to sit down
and resolve the key issues with the admin-
istration.

Yet the Government said in its weekend

Are YOu lookin

yi

press release that Baha Mar had “rejected
significant parts” of its March 7 proposals
on investment incentives, approvals and
other requests.

Last week, Baha Mar warned that its $2.4
billion Cable Beach redevelopment project
had been placed in jeopardy by the failure
to yet conclude a supplemental Heads of
Agreement with the Government, some-
thing that could allow Harrah’s, its joint
venture partner, to “walk away” from the
deal.

Starwood, the other operating partner
that does not hold an equity stake, has a

“me too” clause in its agreement with Baha -° man
» Mar allowing it to walk away if Harrah’s

chooses to exercise that right.

Baha Mar previously pointed out that
the project would contribute $400 million or
6.5 per cent of Bahamian gross domestic
product (GDP) during its first full:year in
operation.

It added that the $2.4 billion Cable Beach
development would generate over $15.5
billion in GDP over the first 20 years,
attracting 600,000 guests in its first year and
creating 6,000 direct jobs at the resort in
full operation, plus-2,000 indirect and
induced jobs.

g for an exciting

career opportunity witha

leading international bank?

Deputy Head of Trust & Fiduciary

SG Hambros is currently looking to recruit a Deputy Head of Trust & Fiduciary.
Your primary role will be to:

Assist with managing the daily business operations of the Fiduciary Services
area in an efficient, effective and profitable manner;

Play an active role in defining and implementing the Group fiduciary strategy;

Be responsible for the growth of the fiduciary activities in compliance with

legal, regulatory and industry standards;

w Ensure Bank's relationships with clients are nurtured and optimized.

The candidate should ideally hold a Bachelor's of Law, Masters Degree in Business
Administration, Society of Trust & Estate Practitioners (STEP) designation or equivalent,
and have at least 7 to 10 years’ international trust/private banking experience.

The role will entail supervisory and training function and ensuring that policies and
procedures are being followed with the department. The candidate must have excellent

client relationship and an in-depth knowledge of investment, trust and banking products.
Superior knowledge of trusts, tnist law, companies and company law; Develop a detailed

knowledge and understanding of client estate planning and financial needs and provide
advice to existing clients and prospective clients on the Bank's products and services,

liaising with product specialists as appropriate in providing more delailed product
recommendations. tn particular, work closely and co-operatively with Private Bankers
to introduce specialized investment products and services in accordance with the
clients needs;

¢ Graduate status with minimum of 7 years experience in the business/financial

world

¢ 3 years of specific management experience in a TST environment
¢ Association of Corporate Treasurers (ACT) or equivalent qualification

preferred

¢ Understanding of the local Bahamas markets, competition, geographic, macro
economic and global factors impacting TST activities

* Seasoned director with a solid track record of success managing and growing
TST / Treasury Products business in international financial institutions

¢ Solid operational experience in both a sales and a trading environment

Remuneration:

Fluency in French or Spanish would be an asset. The incumbent may be required to travel
to designated marketing regions.

The position offers an attractive salary and benefits package.

Manager, Human Resources

SG Hambros Bank & Trust (Bahamas) Limited
PO Box N7789

Nassau

Bahamas

e Salary commensurate with the position’s seniority (FC Level 9 - the Bank
has 11 pay levels)
¢ Benefits- includes a car allowance, variable incentive pay (bonus) and preferred
loan rates

SG Hambros

Applicants are requested to submit their resume with a cover letter via email by

March 23, 2007 to:

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for their interest,

however only those under consideration will be contacted.

SG

Private Banking

SOCIETE GENERALE GROUP



Applications should be submitted to the following address, to arrive on or before 23 March 2007.

eina3) Limited Is licensed under

e3 Requiation Act

www. sghambros,com



Full Text


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SUNNY AND





Volume: 103 No.99





Resort acquired 144
Crown Land acres

SEE FRONT PAGE OF BUSINESS SECTION

——« Che Miami Herald

BAHAMAS EDITION

TUESDAY, MARCH 20, 2007






Country moves one
step closer to election

@ By KARIN HERIG
and BRENT DEAN
Tribune Staff Reporters

PRIME Minister Perry
Christie yesterday finally tabled
the Boundaries Commission
report and the draft order to
create new and reshaped con-
stituencies, thereby moving the
country one step closer to the
general election.

Addressing parliament yes-
terday morning, Mr Christie
said that the Boundaries Com-
mission has recommended that
the Bahamas be divided into 41
constituencies — 25 in New
Providence, six in Grand
Bahama and ten in the ney
Islands.

At this time, each con-
stituency has an average of
about 3,600 registered voters.

As previously reported by
The Tribune, Mr Christie yes-
terday said that the Commis-
sion has also recommended the
elimination of St Margaret’s,
Delaporte and the Adelaide
constituencies.

“The Delaporte and Ade-
laide constituencies have been

reconstituted to the new con-
stituencies of Clifton, Killarney
and part of Golden Isles respec-
tively.

“The reconstitution creates a
new seat in the southwest part
of New Providence to take into
account the shift of the popula-
tion to southwest New Provi-
dence,” the prime minister said.

Mr Christie explained that a
shift in population is also the
premise for the elimination of
the St Margaret’s constituency,
resulting in the reconstitution
of the Montagu constituency
into the St Anne’s and the Mon-
tagu constituencies.

In addition to these changes
the constituencies of Holy Cross
and Farm Road, the prime min-
ister’s seat, also had name
changes.

The Farm Road constituen-
cy has been renamed Farm
Road and Centreville.

“This name more accurately
reflects the inclusion of tradi-
tional and historic communities
within its boundaries,” Mr
Christie said.

SEE page nine

Brent Symonette ‘refused to sign
Boundaries Commission report’

@ By KARIN HERIG
and BRENT STUBBS
Tribune Staff Reporters



FNM deputy leader Brent Symonette refused to sign the Bound-
aries Commission report as a means of expressing his “disgust” with
government’s complete refusal to compromise on any point, leader
of the FNM Hubert Ingraham said yesterday.

Speaking with The Tribune yesterday at the House of Assembly,
Mr Ingraham said that Mr Symonette had very valid reasons not to

SEE page 12

LCC pein GCs

Smellthe garlic

iLook at all that cheese--
Biche Gee. CCUG QOregane

Limited Time Offer.





@ A FIREFIGHTER

tackles the huge blaze
(Photo: Felipé Major/

Tribune staff)

LOCAL firefighters,
as well as auxiliary per-
sonnel, were called to the
scene of a massive fire
that destroyed Tops
Lumber Yard on Wilton
Street Monday and was
still raging late into the
afternoon.

The loss is estimated
in the millions of dollars.
When the Tribune spoke
with police press liaison
officer Walter Evans yes-
terday afternoon, the
fire, although still burn-
ing, had been contained.
Mr Evans said the fire
was reported shortly
after midnight on Sun-

day.

“The fire is still burn-
ing on the inside, but it
has been contained. To
complete the operatinn,
officers will still be
deployed there,” Mr
Evans said. This means

SEE page 12




























BDM pledges to stand








up to gerrymandering |

@ By ALEXANDRIO
MORLEY
Tribune Staff Reporter

THE Bahamas Democratic
Movement pledged to stand up
against the “evils” of gerryman-

dering at a press conference held

yesterday in front of the House
ot Assembly.

The young political party said
that gerrymandering is being
practised by men desperate for
political power. They accused
the PLP government of partici-
pating in the practice.

This is the second time that
the BDM has criticised a gov-
ernment for redistricting the
boundaries of constituencies to
gain an electoral advantage.

On Monday, December 3,
2001, BDM leaders Cassius Stu-
art and Omar Smith dominated
the national news when they
intentionally disrupted the sit-



“Fidelity is wy one stop
for ALL wy financial needs.”

Nassau:

- Gary

ting of the House of Assembly.
Both men charged from the
Public Gallery onto the House

floor and handcuffed themselves:
to the Mace, the symbol of the :
House Speaker's authority. They ;
were protesting the "unfair ger- ;
rymandering of the constituency :
boundaries by the FNM admin-_

istration".

The mace could not be sepa-
rated from the men and the sit-
ting of the House had to be sus-

pended. The two men were
jailed for almost two days, but no

charges were brought against :

them.
Ironically, the BDM's mace

incident was strikingly similar to:
an event referred to as Black :
Tuesday. On that particular day :
— April 15,1965 — then oppo- :

sition leader and former Prime

Minister of the Bahamas, Sir }

SEE page 12

ZERO DOWN LOT LOANS

HOME FOULFY LOATS

MORTGAGE & PERSONAL LOANS
CHECKING & SAVINGS

ACCOM]

an





Sea tragedy
victim claims
govt is not
living up to
responsibility

@ By ALEXANDRIO

MORLEY

Tribune Staff Reporter

A VICTIM of the Sea
Hauler/United Star collision
claims that government is not
living up to its responsibility and
that the Ministry of Social Ser-

vices has not followed through
on its promise to assist his fam-

ily.
Yesterday, Mr Cecil Hart told

SEE page nine

Police Force
restructuring
is officially
announced

@ By KARIN HERIG
Tribune Staff Reporter

THE much speculated restruc- ;

' turing of the top levels of the

Royal Bahamas Police Force was
officially announced yesterday .
and included the establishment
of a new tier of four senior assis-
tant commissioners and the first
appointment of a woman to the
rank of assistant commissioner.

SEE page nine

Sidney Stubbs

won't run as

independent,
will support PLP

@ By KARIN HERIG
Tribune Staff Reporter

HOLY Cross MP Sidney
Stubbs will not be offering as an
independent, but will continue to
support the PLP behind the front
lines of politics, it has emerged.

Refuting speculation that he
may part ways with the PLP after
not being renominated for his
seat, Mr Stubbs yesterday stated
that he will in fact be assisting his
party colleagues in their cam-
paigns leading up to the election.

SEE page nine

Fidelity: More than a Bank

t. 356.7764 @ Freeport: t. 352.6676/7

= ) FIDELITY

AWA Ae Lean AVA DEOL A RETA REY Be

ere i]


PAGE 2, TUESDAY, MARCH 20, 2007

iT a

The ‘torture’ of Sir Lynden
was inflicted by him alone

Pre Minister Perry Christie
predicted that this election cam-
paign would be dirty and it appears that
he knew what he was talking about. Mr
Christie and his colleagues are faced
with a long list of 1 issues that defy con-
vincing response.

For the last five years and from the
very beginning this administration has
stunned the public with one scandal
after another and has limped from crisis
to crisis. From the Korean boats fiasco
right up to the Anna Nicole Smith scan-
dal, Mr Christie and his colleagues have
repeatedly shot themselves in. the foot.

Every government faces challenges
of one sort or another, but what is
important is how the leadership deals
with them. Mr Christie, “as Prime Min-
ister”, has been anything but forthright
and resolute in confronting a long list of
crises.

On top of all this Mr Christie and his
colleagues have with great glee pursued
their “new model” of development for
the country. The centrepiece of that
model is the giveaway of thousands of
acres of public land to foreigners to
develop as residential property for sale
to other foreigners.

In the face of extreme public unease
over this incredibly shortsighted and
misconceived policy, they have not
relented. In the waning months of their

administration they are considering an.

increase in the rate of giveaway from
thousands of acres to tens of thousands
of acres! °

Public anxiety is mounting becduse
people understand that a new govern-
ment can stop the scandals but will find
it difficult, if not impossible, legally to
recover for the Bahamian people much
of the land so recklessly given away.

S"= they are unable to dispose
of the scandals they have them-

selves created, and since blaming others
is not working, Mr Christie and his col-
leagues have resorted to counter attack
in an attempt to throw their opponents
off balance.

FNM Leader Hubert Ingraham has
naturally been the chief target and has
been subjected to a relentless assault.
There is nothing wrong with that except
that some of the abuses and charges
hurled at Mr Ingraham are not based on
fact.

A particularly nasty attack is the
PLP’s radio advertisement which alleges



that Mr Ingraham “tortured” former
Prime Minister, the late Sir Lynden Pin-
dling, through two commissions of
inquiry. The radio ad also seeks to cap-
italise on sympathy for Sir Lynden who,
it alleges, left “with his patriotic heart
broken”.

The PLP has been advised before not
to use Sir Lynden as a campaign prop. It
is better that he be left at rest with the
hope that his positive legacy will loom
large in history. But, as the old people
used to say, “hard-head bird don’t make
good soup”.

It is true that the FNM government
under Prime Minister Ingraham insti-
tuted two commissions of inquiry, but
inasmuch as the results of these were
embarrassing to Sir Lynden, he had only
himself to blame.

The commission of inquiry that was to —
devastate Sir Lynden, tarnish his legacy ©

and ‘expose the shame of a nation mired
in corruption was appointed at his direc-



The commission of inquiry that was
to devastate Sir Lynden, tarnish his
legacy and expose the shame of a
nation mired in corruption was
appointed at his direction; and
Sir Lynden and his government picked

the commissioners.





The first response of Sir Lynden and

his defenders in the

PLP is still quite

familiar today. It was, they said, alla
conspiracy against him and against
The Bahamas on the part of the
Americans, the Opposition and The

Tribune.

tion; and Sir Lynden and his govern-
ment picked the commissioners.

Mr Christie and other members of
the PLP government are quite old
enough to remember all this, but per-
haps they hope to mislead younger
Bahamians who have no memory of
those awful days. °

he trafficking in illegal narcotics

had been a problem in the
Bahamas for years but by the late 1970s
and early 1980s this nefarious business
threatened to consume the country like
a raging fire.

The so-called Colombian cowboys
moved in and with the collaboration of
Bahamian and other recruits operated
throughout these islands, from Abaco to
Inagua. And a vicious lot they were.

One of the biggest drug gangsters in
the world, Carlos Lehder, set up head-
quarters at Norman’s Cay i in the Exu-
mas complete with armed guards, jeeps,
airstrip, sophisticated communications,
guard dogs and helicopters. The Colom-
bians made life difficult for the winter :
residents who maintained homes on the
cay and they left.

The country was awash in drugs and
narco-dollars. A new and unprecedent-
ed era of violent crime and lawlessness
was unleashed on the Bahamas and tra-
ditional values were trampled in the
dust. Many young Bahamians became
victims of drug addiction as some of the
cocaine destined for the United States
found itself on the localnarket.

Promising young lives. were ruined in
an orgy of drug abuse and violence, and
the peace and tranquility of the country
were destroyed. The after-effects of
those days are still very much in evi-
dence today with a kind of criminality
that was previously rare in the Bahamas.

More than a few religious leaders
were sucked into the maelstrom; but
one prominent religious leader in a
touching jeremiad cried out for relief
and complained that the drug culture
was so: pervasive that “somebody in
authority has to know something about
it.”

S omebody knew, of course. Some
heroic Bahamian policemen like

Avery Ferguson and Lawrence Major
were on the frontline being outgunned
by the drug traffickers and betrayed by
Bahamians in high places, but Sir Lyn-
den’s PLP government seemed oblivi-
ous, even complicit.

STORE HOURS:

Monday - Saturday - 8:30am 530m

SII ANE Deere W
STILL ALIVE



The attitude of Sir Lynden was later
summed up in an astonishing statement
to the effect that “It’s an American
problem. Let them clean it up.”

But it was very much a- ‘Bahamian
problem. It was, in fact, the worst peri-
od in the history of the modern
Bahamas and Sir Lynden’s government
did little or nothing to deal with it.

Most Bahamians went on their way as
narco-dollars fuelled an increasingly
acquisitive and ostentatious consumer
culture. But the bodies of dead Bahami-
ans piled up and the number of drug-
ruined lives escalated.

Then on September 5, 1983, Brian
Ross of the NBC television network
blew the lid off the whole sorry mess as
he broadcast allegations of drug cor-
ruption in the Bahamas implicating the
Prime Minister. An enraged Sir Lyn-
‘den flew to New York to confront his
accuser live on television.

The first response of Sir Lynden and
his defenders in the PLP is still quite
familiar today. It was, they said, all a
conspiracy against him and against the
Bahamas on the part of the Americans,
the Opposition and The Tribune.

But things only got worse as the inter-
national press picked up the story.
Screaming headlines spoke of a nation
for sale and made other uncomplimen-
tary references to the Bahamas. The
tragedy is that most of what they had to
say was true.

hat, very briefly, is the back-

ground to Sir Lynden’s deci-
sion to accede to opposition demands
for a commission of inquiry into drug
trafficking through the Bahamas. Sir
Lynden and his government picked the
members of the commission.

That commission sat for a year and
the whole sordid story was revealed.
The commissioners concluded that drug
trafficking had adversely affected almost
all strata of Bahamian society and that
the pervasive corruption reached Cab-
inet level. Sir Lynden himself struggled
to explain large deposits that had been
made to his bank account.

Hubert Ingraham had nothing to do
with any of this, except that later on it
fell to him and.an FNM government to
restore the good name of the Bahamas
in the world, and to begin the task of
national reconstruction.

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

INSIGHT

For the stories
behind the news,
read Insight
on Mondays



THE TRIBUNE

0 In brief

Castro will
be back by
summit, says
Morales

H BOLIVIA
La Paz

BOLIVIAN President Evo
Morales says he. expects Fidel
Castro to return as Cuba's
president in time for an April
28 summit meeting in
Havana, according to Asso-
ciated Press.

Morales, speaking over the
weekend during a meeting of
potato farmers, said at least
six presidents were expected
to attend the summit, includ-
ing Venezuela’s Hugo
Chavez.

“Tt will be the opportunity
to see the return of brother
Fidel Castro to the presiden-
cy of Cuba,” Morales said.

The 80-year-old Castro was
the world's longest-ruling
head of state, occupying the
island's presidency for 47
years before temporarily
stepping aside in favor of his
younger brother, Raul, fol-
lowing emergency intestinal
surgery in July.

Early post-surgery photos
showed him looking sick and
weak, but images on state
television in late January
revealed a stronger and
healthier seeming Castro and
Cuban leaders have given
increasingly upbeat descrip-
tions of his recovery.

Morales, who leads Bolivi-
a’s Movement Toward
Socialism party, has said that
he considers Castro to be a
“wise grandfather” and has
established warm ties with
Cuba.

First luxury
resort in 35
years in
Bermuda

@ BERMUDA
San Juan

A DUBAI government-
held company is. seeking
Bermuda’s approval to build
the wealthy British enclave’s
first new luxury resort in 35
years, according to Associated
Press.

Construction of the high-
end resort by Jumeirah
Group, a hotel operator
owned by state-owned Dubai
Holding, will begin as soon
as final planning approval is
given to the proposed devel-
opment, Cherie Whitter,
director of Bermuda’s
tourism department, said
Thursday.

“It’s been quite a long time
since we’ve had a new pro-
ject,” Whitter said of the hos-
pitality company’s proposed
complex, which would be
named the Jumeirah South-
lands Resort and is expected
to open in mid-2008 on the
south shore of the British
Atlantic territory.

Plans call for the resort to
include 300 suites, five restau-
rants and bars, a spa and bou-
tique shops.

It was not clear how long it
might take to receive
approval.

Whitter said local officials,
including Premier Ewart
Brown, are promoting
Bermuda’s potential to hotel
developers and investors.

“The market is once again
deemed interesting,” she said.


THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 3



ii nee eee
In brief Woman awarded

$211k damages
for disfiguremen

Missing girl |
found safe
and well in
apartment

FREEPORT - The search
for a missing 12-year-old girl
came to an end on Sunday
when police discovered the
child at an apartment in the
Caravel Beach area.

Chief Superintendent Basil
Rahming said that Melissa
Johnson, a resident of No 66,
Coral Reef Estates, had been
reported missing to police by
her mother on March 10.

He said that officers at the
Central Detective Unit
received information that led
them to a Sunset Highway
apartment, where they found
the missing girl in good
health.

Dukes Way, South Bahamia,
told police that her daughter,
Melissa, left home around
8.30am on March 9 for school
at St Georges’ High, but did
not return.

Ms Deveaux said that
Melissa had been released
from the Willamae Pratt
Detention Centre for Girls
last September.

Supt Rahming said Melissa
told police that she had spent

several nights in the care of }

her father, who is estranged
from her mother.

The girl said she had then
been sent to a woman at the
apartment where the police
found her.

Melissa is expected to
appear before the Juvenile
Panel on March 23.

Czech experts
evaluating
Jamaica for
mining —
JAMAICA

Kingston

A TEAM of Czech experts
are evaluating quarries in this
Caribbean nation to help it
improve mining operations
and develop plans for maxi-
mum efficiency, according to
Associated Press.

“We're developing a plan
for our quarries where we’re
going to show people that
you can mine in such a man-
ner that it is attractive and
sustainable,” said Victor
Cummings, minister of state
in Jamaica’s Ministry of Agri-
culture and Lands.

Cummings said he orga-
nized the experts’ visit after
an Official trip to the Czech
Republic where he toured
mined-out quarries devel-
oped as tourist attractions.
“These are some of the same
things that we would like to
do here,” he said March 10 in
the statement.

The Jamaican government
recently hired a consultant to
determine the boundaries of
a jungle territory home to
descendants of freed African
slaves who are fighting plans
for bauxite mining in the
area. The area, called Cock-

pit Country, spans four.

parishes in northwest
Jamaica.

Jamaica is the world’s fifth
largest producer of bauxite,
the principal ore used in alu-

minum.

Barbados
premier
delivers new
budget

®@ BARBADOS
Bridgetown

FUELLING predictions
he is preparing to call early
elections, Barbados Prime
Minister Owen Arthur pro-
posed a budget that he said
would tackle inflation and
ease burdens faced by low-
income families on the
Caribbean island, according
to Associated Press.

Presenting his suggested
budget to the House of
Assembly on Wednesday
night, Arthur said projected
growth gave him room to
propose a budget of 3 billion
Barbados dollars (US$1.5
million), a roughly 3 per cent
increase in spending.

Arthur, who has led Bar-
bados since 1994, pledged
during his televised budget
address that he would create
more affordable housing for
islanders, who have long
complained that spiralling
costs are squeezing them out
of the tropical island’s real
estate market.

Melinda Deveaux, 33, of

A WOMAN who was left
badly disfigured by a post-oper-
ative infection has been award-
ed more than $211,000 damages
against a Bahamian surgeon.

The assessment, which came
after a wait of nearly three
years, was released within hours
of inquiries being made by The
Tribune’s INSIGHT staff.

Siobhan Reilly, a 39-year-old
mother, contacted this newspa-
per as a “last ditch” attempt to
get justice after she won judg-
ment against Dr Philip Thomp-
son in 2004.

She claimed deputy registrar,
Ernie Wallace, had repeatedly
failed to assess damages and
return phone calls since exam-
ining her claims nearly three
years ago.

However, when INSIGHT
spoke to Mr Wallace last Fri-
day, he said the assessment had
been completed and was being
edited. He blamed the long
delay on volume of work,
adding: “It’s nothing more.”

Ms Reilly, a head accountant
at Commonwealth Brewery,
said she was pleased to get the
assessment at last, but was furi-
ous at Mr Wallace’s decision to

Assessment finally obtained
after inquiries by The Tribune



hurriedly release a statement to
another newspaper after The
Tribune’s inquiries.

“I am incensed because this
was obviously done as a counter
measure and proves that the
delay was wrong,” she said.

“In releasing the damages to
another newspaper, he was try-
ing to soften the blow of The
Tribune’s INSIGHT article.”

-She also took exception to
Mr Wallace’s failure to include
specific damages for corrective
surgery, which she said could
be a “significant” amount.

In fact, when she first
inquired about corrective
surgery in Florida five years
ago, the amount quoted was
$30,000. This, she felt, could
have risen by at least another
$20,000 by now.

In recent weeks, Ms Reilly’s
father, motivational speaker D
Paul Reilly, and several friends

and associates had been trying
to put pressure on the courts to
get a result.

But it was INSIGHT’s
inquiries on Friday that appar-
ently triggered an immediate
response.

Mr Wallace told The Tribune
that the assessment would be
ready “by Monday or Tues-
day”, but in fact released them
in a fax to Ms Reilly’s lawyers,
Davis and Co, within an hour
or two of INSIGHT’s
approach.

The damages were awarded
after Dr Thompson, who now
works in Freeport, was found
to be negligent in his care for
Ms Reilly after a cosmetic oper-
ation in March, 1998.

Ms Reilly developed an
infection which left her need-
ing six further operations.
The scarring, she said, left
her looking like “The Bride

Meeting on boundaries




‘Tour company drivers complain

i FNM leader
Hubert |
Ingraham,
Parliamentary
Registrar Earl
Bethel and
Prime Minister
Perry Christie
(Photo:
Franklyn G
Ferguson)

over pay and working conditions

lm By ALISON LOWE
Tribune Staff Reporter

DRIVERS at the Bahamas
Expertence Tour company, a
major tour company contract-
ed by clients such as Atlantis,
have alleged that they are suf-
fering from erratic and difficult
working conditions.

Driving limousines, Escalades
and coaches, the staff members
deal on a regular basis with
“high end” Atlantis customers,
ferrying them to and from their
chosen destinations.

However, the employees
allege that they too are being
“taken for a ride.”

According to a source, the
company pays almost all its
workers around $275 a week.
While the staff do not have a
written contract, the source
admitted, they entered into a
verbal agreement stating that
this would be the amount they
would be paid during a “proba-
tionary period”.

However, no drivers have
since received pay increases,
even up to five years after they
were first hired, in contraven-
tion of that agreement,” he said.

Drivers are in theory required
to work six day weeks. Howev-
er, after six days have passed,
on occasion they are not given a
day off for almost another full
week, as there is no “con-
trolled” day off system, he
added.

Drivers can end up working
13 day stints — being in their
vehicles for anything from six
to 16 hours a day — without a
day off, said the source.

Based on their alleged daily
rate of pay, a 16 hour day would
create a situation where the
employees were being paid less
than minimum wage.

Such is often the case when
an awaited flight is delayed for
many hours, explained the dri-
ver. For these extra hours, they
receive no overtime, he alleged.

Labour law states that an
employer must provide “basic
information” to an employee,

including “the number of hours
of daily work and the hours of
the day at which such work is to
commence and to terminate.”

_ According to the driver, no
employee is able to plan his
time off. When breaks are pro-
vided, they can come on any
day of the week, and at very
short notice, an inconvenient
arrangement for a “family
man”, said the source.

And when “high rollers” and-

celebrity clients — such as bas-
ketball legend and golf enthusi-
ast Michael Jordan, who, along
with many fellow high-end
types, used Bahamas Experi-
ence during a recent celebrity
golf tournament — leave large
tips, the drivers “never see a
dime” he said.

The driver said that it was
understood by he and his col-
leagues that a proportion of a
$50,000 tip left by Mr Jordan
was to passed on to them.

The source, who said he
believes the company is worth
many millions of dollars,
explained how there has never
been a staff meeting at the com-
pany, and as such, no outlet has
been provided for their con-
cerns.

Company owners treat with
drivers with little respect, over-
working them, and even vic-
timising employees if they
“speak out” about conditions,
he claimed.

Seeking redress, a group of
staff members met with Mr
Ernest Burrows at the Labour
Board last Tuesday and raised
their concerns, but have yet to
hear back.

Employees have become
increasingly disturbed by the
conditions while awaiting the
board’s response, said the
employee.

Meanwhile, company execu-
tives met with Atlantis repre-
sentatives, a meeting which the
driver believes was organised
after a story about the driver’s
grievances aired on Cable 12
last week, however no employ-
ees were invited to attend.

Attempts to contact the man-
agement at Bahamas Experi-
ence yesterday were unsuccess-
ful and calls were not returned.

Ernest Burrows at the
Labour Board was also unavail-
able for comment.

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of Frankenstein”.

The Supreme Court did not
find Dr Thompson, or his col-
league Dr Leighton Logan, neg-
ligent in the performance of the
operation itself.

But it did find that Dr
Thompson “failed to discharge
his duty of care” to Ms Reilly in
the post-operative phase.

In his ruling, Mr Wallace said:
“There is no precise way to
















assess this loss to a woman. The
ineffaceable scars must be an
ever-present reminder of the
derogation of her womanhood.”

He assessed general damages
for pain and suffering and “loss
of amenities” at $200,000, with
$11,476 awarded as special dam-
ages.

Ms Reilly said she would
probably celebrate her victory
“when I get the cheque.”



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a.

PAGE 4, TUESDAY, MARCH 20, 2007

THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR





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 LITENNE DUPUCH, Ki, O.B. Eo KM, KC.SG:,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

Shirley Street, PO. Box N-3207, Nassau, Bahamas

Publisher/Editor 1972-

Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

Dealing with ‘Adderley’s Logic’

AT NO time in this column did we express
the wish for Mr Paul Lawrence Adderley’s
death. Far from it, we were probably one of
the few persons who were sorry when Mr
Adderley announced his resignation from front-
line politics. We certainly would not now wish
him dead.

Our sorrow came from the fact that we
would miss Mr Adderley whose logical-illogic
was an editorial writer’s delight. Mr Adderley
could always be counted on to say something
preposterous that would set our pen in motion
— not to mention the number of times he would
shift political positions, depending upon what
side of the fence he happened to be sitting on a
given day.

One only has to pick up the Adderley file
around election time to see the racist thread
running through most of his pronouncements.

In fact what we did say in the editorial of
March 14 (see Mr Adderley’s letter on this page
today) was that race would only “cease to be an
issue in the Bahamas when ‘times winged char-
iot’ arrives and departs with the Adderley gen-
eration on board.” .

This departure was not an item on our wish
list. We were just stating a fact, which Mr
Adderley himself announced on the floor of
the House in October, 1993. At that time Mr
Adderley was MP for St Michael’s.

In an exchange with House Leader Algernon
Allen — Mr Allen had objected to Mr Adder-
ley “using the word ‘racist’ in relation to private
citizens outside the chamber” — Mr Adderley
in a heat of passion, shouted:

“You will have to kill me to stop me from
calling a dirty racist, a dirty racist.” And, he
added, “I will be dead before I stop calling a
racist, a racist.”

This was Mr Adderley’s statement of fact,
not this editorial writer’s statement of opinion.

And, of course, we could always count on
Paul Adderley to have a delightful turn of
phrase when referring to his favourite people,
especially when they were trying to pry the
truth from his PLP — “journalistic parasite, a
journalistic rattlesnake, a journalistic cancer-
ous nematode!”

That was Mr Adderley at his best — who
would wish such a colourful character to be
removed from the scene? He gave us a daily
laugh at The Tribune during his time.

We know that Mr Adderley told a radio
audience that “the majority of PLP I think have
put the racial issue behind them.” We agree
with this statement — we don’t “think” they
have put it aside, we know they have put it
aside. But, the point is, Mr Adderley has not,
and as long as he participates in the political life
of this country he will always be fingering
“racists.”

Just flip through our files and this is how the
headings read: “Adderley blames ‘lack of con-
fidence’ in Bahamas on ‘white racists’; ‘Adder-
ley hits out at FNM sell out to ‘white minority’;
‘Adderley calls TV cable applicants ‘white
racists’; ‘MP charges sell out to S Africans’, etc.
In fact the late Sir Etienne Dupuch got so irri-
tated with Mr Adderley’s tiresome rant, that
he wrote an editorial in this column on June 26,

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1982 headed: “Adderley blinded by racism.”

And, today we maintain that although
Bahamians have ceased to focus on this issue —
which Mr Adderley himself has acknowledged
— Mr Adderley has not.

In his letter, Mr Adderley never heard of
“Adderley’s logic”, but, of course, he remem-
bers us laughing at “Adderley’s Law”. He thinks

we are confusing the two. How could we when.

it was in this column that we coined: “Adder-
ley’s Law.”
We have now launched “Adderley’s Logic.”

In his letter Mr Adderley refers to a political
donation by the Kerzner organisation. “It is
not for me to say whether Mr Kerzner made a
donation to anybody,” wrote Mr Adderley, “but
apparently somebody gave this information to
The Tribune. So says the Editor.”

My, my, Mr Adderley, your memory must
have wandered into the sunset on this one.
Why it was you yourself who led The Tribune to
this bit of information.

In a speech’'Mr Adderley made in 1998 on
“political reform”, he revealed that Sun Inter-
national (later Kerzner International) had
donated $50,000 to the PLP’s election cam-

paign. That was a fact of which he had knowl- _ -

edge. His point was that foreigners should stay
out of local politics. Instead of leaving the facts
and moving on, he was tempted to venture into
the unknown, and that’s where he got unstuck.
By innuendo, he wanted to leave his audience
with two thoughts.

If the PLP as Opposition got $50,000, then
how much did the FNM get as the government?

The second mischief he wanted sown was
the thought that Sun as an outsider had come to
the Bahamas and got involved in our politics by
giving a large political donation to the PLP — in
other words Sun was buying political leverage
just in case the PLP took the government from
the FNM. “Obscene!” cried Mr Adderley.

This is where The Tribune came in. We want-
ed to find out exactly what donation the FNM
government had received.

It turned out that — other than the fact that
the PLP pocketed a $50,000 donation — there
was no truth to what Mr Adderley had sug-
gesied about either Sun or the FNM. The FNM
received no donation. Unlike the PLP they did
not ask for one. Nor did Sun go looking for a
donation to bribe the PLP. The PLP went with
their begging bowl looking for Sun. Shake
down? Call it what you will, but in Mr Adder-
ley’s own words the PLP’s behaviour was
“obscene.”

Mr Adderley insists that there are “hun-
dreds of white Bahamians who vote colour not
party or interests.” We strongly reject this state-
ment. Bahamians, white or black, today vote

' party, and fence-sitters vote interest. Mr Adder-

ley insists that the white man votes colour. If this
is so why do so many white men and women
want Hubert Alexander Ingraham, FNM leader,
who is truly a black man, rather than Perry
Gladstone Christie, Prime Minister and PLP,

' who is of a decidedly fairer hue?

Mr Adderley, again that inscrutable logic of
yours is getting in the way. Only Adderley’s
logic can make sense of this conundrum.



experience.















The Hospital
and Health Care
Facilities Act Board

EDITOR, The Tribune.

PATIENTS’ access to their
medical records have been a
recent topic of discussion, for
the survivors of the Sea
Hauler tragedy.

According to press reports,
some survivors were not able
to get copies of their hospital
records. There may be noth-
ing sinister about this — it
could be simple inefficiency.

However, the Public Health
Authority Act, (PHA) which
governs government medical
facilities, does not give
patients a statutory right to
their records. The Hospital
and Health Care Facilities
Act, (HHCF) which regulates
private medical facilities, does
give patients this right.

There are instances, how-
ever, where a private medical
facility will not deliver a
patient’s files for reasons of
its own, and this aspect of the
law needs a summary means
of enforcement.

If the government intends
to put all patients in any
health care facility on an
equal footing, then it should
amend the PHA Act or pro-
vide another Act to give ALL
patients similar rights as are
contained in the HHCF Act.

_ This would include the right

to have a complaint about
“the diagnosis, management,
or treatment” of a patient
investigated by expert inspec-
tors.

But legislation alone, does
not guarantee that patients’
interest are automatically pro-
tected. Take for instance, the
record of the HHCF Board. It
took eight years for that
Board to submit its first annu-
al account to Parliament, in
2006, although the Board has
existed since 1998 — and then
only because of significant
press coverage of its default.

And although it has col-
lected fees from private med-
ical facilities since it was
established, no account of its
transactions has been submit-
ted to Parliament for its first
seven years. This is quite
remarkable in a democratic
society where there is
accountability to an elected
government.

In addition, it appears the
HHCF Board has never
investigated any complaint of
the “diagnosis, management
or treatment” of any patient.
In one particular case, it

PUBLIC NOTICE
INTENT TO CHANGE:NAME BY DEED POLL

The Public is hereby advised that |, DEMETRIUS MATHURIN
of the of 1118 NW 19th Avenue, Ft. Lauderdale, Florida, Zip

Code 33311, intend to change my name to DEMETRIUS
KNOWLES. If there are any objections to this change of
name by Deed Poll, you may write such objections to the Chief
Passport Officer, RO.Box SS-742, Nassau, Bahamas no later
than thirty (30) days after the date of publication of this notice.



Sandals Royal Bahamian Resort
@ Offshore Island.

Invites applications for the position of:

FINANCIAL
CONTROLLER

Applicant must possess knowledge of the
application of generally accepted accounting
principles, internal control systems and
computerized systems; ability and willingness
to train, counsel and coach employees; proven
ability to create and implement project plans and
re-engineering of existing ways of doing business
to facilitate improvements in productivity as well
as strong leadership in areas of responsibility.

Salary will be based upon qualifications and

We offer excellent benefits.
Interested persons should submit resume by email

to: cmajor@srb.sandals.com.

LETTERS

letters@tribunemedia.net




appears that two PLP Minis-
ters of Health have directed
that Board to investigate said
complaint, but the Board
appears unable or unwilling
to do so.

The current Board Chair-

man, Jerome Gomez, says this”

is because the Board cannot
obtain the necessary medical
experts to sit on the investi-
gating committee, notwith-
standing the Board’s access
to experts through Pan Amer-
ican Health Organisation.
This is the same Board, how-
ever, that proposed: “Since
the patient is dead, the file
should be closed.”

It appears also, however,
that Mr Gomez hopes to get a
PLP nomination in the next
election. It may be that Mr
Gomez does not consider an
investigation to be opportune
at this time, as it would scru-
tinise the actual practices of a
medical facility annually
licensed by the Board. Per-
haps the Board sees its
licensees, who write the
cheques for fees to the Board,
as its “constituents”, who
need to be protected by offi-
cial stone-walling. But this
overlooks the fact that the
actual constituents of the
Board are ordinary citizens
—— the patients. Parliament
created the Board and gave
it an oversight function to
protect the pubic by requir-
ing medical facilities to meet
standards.

This is why the Board has
the power to investigate a
complaint of fatally inappro-
priate treatment. By law also,
it is bound to comply with the
directions of the Minister of
Health to do the investiga-
tion. It is remarkable that it
has done neither. One would
expect that a potential candi-
date would see the wisdom of
carrying out his present duties
as Chairman of a health care
Board, so that he could bring
to the voters a record of per-
formance in public office.

Voters should also note this
failure of the public trust in
the debate over expanding the
government’s role under a
national health scheme. If the
NHI Commission likewise
fails to enforce health care
safety requirements, fails to
comply with the directions of
its Minister, fails to investi-
gate and address complaints

of fatally inappropriate care,
then we will have a national
health care system which is in
fact unregulated. Do we each
want to pay for a nationalised
health care system that leaves
lives of patients at risk?

In a modern democratic
society, no group of persons
or institutions can be allowed
to function beyond the reach
of the law, particularly when it
is a matter of life and death.
As Lord Woolf, British law
reform commissioner, stated:

“It is unwise to place any
profession or other body pro-
viding services to the public
on a pedestal where their
actions cannot be subject to
close scrutiny. The greater the
power the body has, the more
important is this need.”

It is no answer to say that
the injured patient can sue the
doctors or hospital responsi-
ble. This cannot restore lost
heath or life. Litigation has
not been known to result in
any general improvement in
health care standards.

The injured party then faces
triple jeopardy: he must not
only cope with any disabili-
ty/unemployment, and get his
hospital records, but he must
then find considerable funds
or a charitably minded attor-
ney to assert his rights before
the Courts. In the Bahamas
in particular, he will have to
endure years of delay, aggra-
vated by attorneys who
manipulate courts apparent-

ly ill-prepared to manage the

situation before it.

That is why it is even more
important that the HHCF
Board do what it is mandated
to do, and ordered to do:
investigate complaints of fail-
ures in private medical facili-
ties tc protect patients’ health
and lives. If the health safety
and life of a citizen or resi-
dent of this country, is of no
consequence to the govern-
ment, what is?

In this small country, many
of our problems could be
avoided or solved. ie

We could, with a mod::.um
of conscience, foresigh: asd
resolve, build a_ bettcr
Bahamas. But only if politi-
cians, public officials, and pro-
fessionals do what they ought
to do, in a timely and appro-
priate manner. It is that sim-
ple.

BAHAMAS
PATIENTS
ALLIANCE
Nassau,

March, 2007.

NOTICE

NOTICE is hereby given that WINDY ST. VIL OF LINCOLN
BLVD, 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 20th
day of March, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that D’ANGELO SMITH OF
SEABREEZE LANE, P.O. BOX EE-15776, 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 13th day of
March, 2007 to the Minister responsible for Nationality and
Citizenship, PR.O.Box N- 7147, Nassau, Bahamas.




} to change my



PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, AULRICK RUSHEILD
DAVID STRACHAN of Kemp Rd, New Providence, intend
name to AULRICK RUSHEILD DAVID
MICKLEWHITE. If there are any objections to this change of
name by Deed Poll, you may write such objections to the Chief
Passport Officer, RO.Box SS-742, Nassau, Bahamas no later
than thirty (30) days after the date of publication of this notice.










-e 2&2 & @& & © 8 TL eee,

a8@eacewv-

.-a sw

‘_ Sea

THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 5



Bahamas aims to have more

control over own airspace



Symposium
organised
on health
care reform

MEMBERS of the public
who have not yet done so are
being urged to reserve their
seat for Wednesday’s Nation-
al Healthcare Reform Sym-
posium.

The Bahamas Chamber of
Commerce, which is hosting
the event, announced that for
those who cannot make it,
the forum will be carried live
on More 94.9FM beginning

~ at 6.30pm.

“The forum will provide
you with information from
all involved in the delivery

' of healthcare: government,

medical and insurance bodies
as well as an assessment of
the plan from an interna-
tional perspective, said the
chamber in a statement. “The
forum will also provide you
with an opportunity to ask
questions of a panel of
experts.”

Invited presenters include:

e Mr Nadeem Esmail, an
international expert on
national healthcare pro-
grammes with a strong
understanding of the current
Bahamian healthcare system

e Dr Bernard Nottage,
Minister of Health

e The Coalition for Health-
care Reform

-e The Employer’s Confed-

eration

e The Private Health
Insurance Association

e Other industry associa-
tions and partners

The forum will take place
at the British Colonial Hilton
and if free or charge. Seats
can be reserved by emailing:
antoinettebutler@coral-
wave.com

Man faces
charge of
stealing
from home

A MAN was arraigned in
Magistrate’s Court on Bank
Lane yesterday charged with
burglary and stealing from a
home.

It is alleged that on Satur-
day, March 17 Hughes Per-
pall broke into the home of
Malinda Sweeting on
Watlings Street.

There, it is alleged that he
stole a cellular phone valued
at $450, 15 DVD’s valued at
$75, as well as an assortment
of school supplies and other
items.

Perpall, who appeared
before Magistrate Marilyn
Meers at court five, was not
required to enter a plea to
the charges and was granted
bail in the sum of $10,000.

The case was adjourned to
July 16.

tH
aS

FOR PEST PROBLEMS
Ma as area

RE RE ey Es

TUESDAY,
MARCH 20TH

6:00 Community page 1540am

11:00 Immediate Response

noon ZNS News Update

12:05 Immediate Response
(Contd)

1:00 Legends: Fred “Papa” Smith

2:00 Fast Forward

2:30 Turing Point

3:00 Durone Hepburn

3:30 Ermest Leonard

4:00 Lisa Knight

4:30 Cybernet

5:00 ZNS News Update

5:05 Healthy Lifestyles

5:30 The Envy Life

6:00 Project Beach Sea Ranger

6:15 Seven Seas Informcial

6:30 News Night 13

7:00 The Bahamas Tonight

8:00 _ Island Lifestyles

8:30 Battle of The Brains

9:00 Holby City

10:00 Caribbean Newsline

10:30 News Night 13

11:00 The Bahamas Tonight

11:30 Immediate Response

12:30 Community Page 1540AM

NOTE: ZNS-TV 13 reserves the
right to make last minute
Pee NCU



































JOHN Rood

‘Mitchell under fire after

FOREIGN Affairs Minister
Fred Mitchell faced a fierce
backlash yesterday after it was
disclosed he had once set fire
to a copy of the Bahamas con-
stitution during a protest. -

The burning of what the PLP
once described as “the most
sacred secular document we
have” left voters outraged, with
one declaring his action “worse
than destroying the national
flag.”

“It is terrible,” said Ivoine
Ingraham after reading revela-
tions about Mr Mitchell's polit-
ical past in The Tribune.

“The constitution is who we
are as a people. To say you are
going to burn that is to burn
everything we believe in. It just
shows the kind of person he is.
It is all about him.”

Mr Mitchell’s burning of the
constitution outside the
Supreme Court came during his
time as leader of the People’s
Democratic Force in 1990.

He was protesting against
then Prime Minister Sir Lynden
Pindling, claiming the country
was being destroyed.

But Mr Ingraham said Mr

Mitchell was “like the plague”
as far as the PLP was con-
cerned. “They did not think
anything of him. He did every-
thing to embarrass Pindling and
he did not like Marguerite Pin-
dling either.”
' Fierce response to the disclo-
sures came as the election cam-
paign heated up in Fox Hill,
where Mr Mitchell is desper-
ately trying to cling on to his
parliamentary seat.

Political observers feel his
FNM challenger, Dr Jacinta
Higgs, is set for victory, with
many voters disillusioned over
Mr Mitchell’s performance
since 2002.

The minister has been
accused of “spending more time
in the air than on the ground”,
neglecting important con-
stituency issues in the process.



Mr Ingraham said: “It
appears he is so desperate that
he is doing all kinds of commu-
nity stuff now. He is dabbling
in the community, but it is all
too late.”

Disclosures about Mr
Mitchell’s burning of the con-
stitution came after he had
invited Fox Hill people to
“remember their history.”

Tribune staff took him at his
word and researched the recent
political history of Mr Mitchell
himself.

The result was a:series of
embarrassing revelations about
Mr Mitchell and his past rela-
tions with the PLP, the party
he now represents.

At one point, the PLP
described him as a “spoil brat
who needed a good spanking”
and even likened his actions to
those of Hitler and Goebbels.

And Pindling himself threat-
ened to reveal details of Mr

Mitchell’s private life, which ,

resulted in Mr Mitchell daring
him to do so, threatening to
make embarrassing revelations
of his own.

Yesterday, Tribune readers
responded positively to Satur-
day’s hard-hitting article. One
said: “Mr Mitchell has been ask-
ing for it. Now he’s got it.”

Another, George Turnquest,
said: “Burning the constitution
is like desecrating a national
shrine. It’s far worse than
burning the national flag, or
even despoiling the national
anthem.

“While a flag is merely sym-
bolic, and the anthem is just a
song, the constitution is the
written foundation of our soci-
ety, the text by which we all live
our lives.

“To desecrate it in such a fla-

grant way is to show complete _

disrespect for our democracy
and the Bahamian people them-
selves.”

Workers Party leader Rod-
ney Moncur, however, defend-

The Nassau Institute



Discussion Group series begins with

“THE TYRANNY OF THE PROPER”

Fat people die young.
Should government regulate their diets?

Join us at

| Bay Street Business Centre
Bay 8. Deveaux Streets

Thurstay, March 22, 2007 @ 6.30pm

Admission: FREE
Reserve your space @ 326 5728

WWW.nassauinstitute.org





m@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - The Bahamas
soon will be allowed to exercise
greater control of its own air-
space with the assistance of the
Federal Aviation Administra-
tion, according to US Ambas-
sador John Rood.

Mr Rood, who was speaking
in Grand Bahama on Friday,
said that the FAA has for years
helped manage the airspace in
the Bahamas to ensure safe air
traffic control of flights to and
through the Bahamas.

However, he said, the
Bahamas government has now
expressed an interest in exer-
cising greater control of its own
skys.

“One of the challenges we
face is that we have to work out
the airspace by the Bahamas.
The Bahamas government
wants to:control that space and
has the right to control that
space, and the FAA is trying to
become a partner in that
process,” said Mr Rood.

“We feel that the FAA’s
background and experience in
working with the Bahamas —
whether it’s in training and
radar repair — we feel we are
an ideal partner in providing

ed Mr Mitchell’s action, saying:
“If a government does not
adhere to the law and the con-
stitution, you need to point it
out.”

He said Sir Lynden himself

equipment for the Bahamas to
take care of that airspace, and I
have no doubt in my mind that
people of the Bahamas are
capable of controlling it.

“The incident with the Air
Traffic Control over a week
ago, the controllers were told
what a great job they did. And
the thing is to ensure that they
maintain equipment in a man-
ner that ensures that there will
not be breakdowns,” said the
ambassador.

Concern

Mr Rood said that a break-
down in the radar system “is a
very dangerous situation,” and
is of great concern to the Unit-
ed States.

“One of the roles of being
ambassador in the Bahamas is
to protect the safety and security
of Americans, and with millions
of Americans coming to the
Bahamas you see why the air-
space is an issue that we are con-
cerned about,” said Mr Rood.

He said the FAA and Trans-
portation Security Administra-
tion have been outstanding
partners with the Bahamas,
donating time and resources to
assist with aviation safety and

airport security management.

When Grand Bahama lost its
airport radar as a result of the
2004 hurricanes, he said, the FAA
stepped in to provide an emer-
gency tower that is still in use.

The ambassador said that the
Bahamas government is very
interested in working with the
FAA to try and find a solution
that is good for the Bahamas
and the US.

He said that the FAA has
indicated an interest and will-
ingness to partner with the
Bahamas in a new way that will
allow the Bahamas to benefit
more from controlling its air-
space, while ensuring the high-.-
est safety for air travellers that
would come from a manage-
ment partnership with FAA.

“T am hopeful that we will be
able to continue this partner-
ship that brings so many intan-
gible benefits of collaboration
with the FAA.

“We have been in the early
stages of discussions on this
matter, and hope to move for-
ward in the weeks and months
ahead. Such a new partnership
in this vital area will allow us
both to use FAA’s expertise to .
ensure that Bahamian skies
remain safe and secure,” Mr
Rood said.

Tribune article

had set an example for Mr
Mitchell by throwing the par-
liamentary mace out of the
House of Assembly window
in 1965. But he thought the
Tribune article “powerful”

and revealing.

Another reader said: “My
cellphone was ringing all morn-
ing after that article appeared.
It’s the kind of journalism we
need in this country.”

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wake up and drives
PAGE 6, TUESDAY, MARCH 20, 2007

‘Thivargo Laing claims nation headed
in wrong direction under the PLP

@ By ALISON LOWE
Tribune Staff Reporter

GRAND Bahama, and the
nation as a whole, is "headed
in the wrong direction" under
the PLP government according
to FNM Marco City candidate
Zhivargo Laing.

Speaking at the opening of
the FNM Russell Town head-
quarters for West End and
Bimini on Friday, Mr Laing
threw his support behind the
FNM’s candidate David Wal-
lace — who he said would be an
"upfront" and "visible" MP,
"restor(ing) your trust in gov-
ernment again."

Mr Laing told those present
that the PLP has "treated
almost everyone badly" during
their time in power, including
teachers, the police, prison offi-
cers, customs officers and nurs-
es.
Meanwhile, their "political
cronies, family members and
hired political mercenaries"
have benefitted, at the expense
of the rest.

According to Mr Laing,
crime, illegal immigration, food,
electricity and land prices, scan-
dals and the national debt are
"up! Way up!", while school
grades and employment in
Grand Bahama is “way down!".

"This is not what the people
of the Bahamas or of Grand

PROSPECTUS



“(The PLP) believe that the
government should have all the
power and that the people should
be dependent on them, that is
why they have stifled local.
government and politicised it.”



FNM Marco City candidate Zhivargo Laing

Bahama voted for in 2002.
Grand Bahama especially did
not deserve what the PLP has
done to it since 2002," he said.

Discussing the FNM's record
in Grand Bahama, Mr Laing
said the economy flourished
during their tenure.

Unemployment dropped
from 16.8 per cent to 6.4 per
cent, and 15,000 jobs were cre-
ated across the island, he
claimed.

In response to PLP talk of
increased Bahamian ownership
of companies in the Bahamas,
Mr Laing pointed to seven enti-
ties, including the Bank of the
Bahamas and Cable Bahamas,
which were Bahamianised in
terms of ownership under the
FNM.

Furthermore, he said, infra-
structure was greatly improved

as schools, parks and other
facilities were built, and gov-
ernment services were upgrad-
ed.

Mr Laing said that Mr Wal-
lace would "go out of his way
to be available" to the people
of West End and Bimini.

"David Wallace will not put
foreign investors ahead of you.
When you call, he will be
there," said Mr Laing.

If elected to power, the FNM
will provide proper government
services in West End and Bimi-
ni, and promote economic
growth through "thoughtfully
selected" investments, he said.

Additionally, they are deter-
mined to preserve the environ-
ment, strengthen coastal
defences, improve educational
opportunities, and address the
land issue.

THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS

BAHAMAS REGISTERED STOCK 2026 AND 2027

ISSUE OF B$50,000, 000.00

Issued under The Bahamas Registered Stock Act, and authorized by Resolutions of the House of

Assembly, 21st June, 2006.

Applications will be received by The Banking Department beginning at 9:30 am on 16th March, 2007 and
will close at 3:00pm on 26th March,,2007. Allocations will commence at 9:30 a.m. on 27th March, 2007 and
will cease at 3:00p.m. on 28th March, 2007 :

If the total subscriptions exceed the sum of B$50,000,000.00 (Nominal) partial allotment will be made to
subscribers, and a proportionate refund will be made as soon as possible after allotment. No interest will be

paid on amounts so refunded.



The date of this Prospectus is 15th March, 2007

The Government of The Commonwealth of The Bahamas invites applications for Bahamas Registered
Stock totalling B$50,000,000.00. The Stock will be available in a range of maturity dates; the earliest being
repayable in 2026 and the latest in 2027. The total amount of Stock offered, the rate of interest and the issue

price are given below :-

Rate Of Interest

9/32% Above Prime Rate
5/16% Above Prime Rate

Amount
BS
25,000,000.00
25,000,000.00

Bahamas Registered Stock 2626
Bahamas Registered Stock 2027

Issue
Price
BS

100.00
100.00

50,000,000.00

The Stock shall be repaid on 28th March, in the year appearing in the name of the Stock.

INTEREST —

The Stock will bear interest from 28th March, 2007, at the rate shown against the name of the Stock as the

The importance of local gov-
ernment was further noted as
a key issue.

“(The PLP) believe that the
government should have all the
power and that the people
should be dependent on them,
that is why they have stifled



local government and politi- -

cised it. We believe that local
government should have more
power so that they can have
more say in their communities,"
Mr Laing said.

He encouraged those present
to register to vote.

"You have much at stake,"
he said.

THE GOVERN



EXACTLY one year after
Deron ‘Sharky’ Bethel was
shot dead in his car outside
his home, friends and family
will hold a special service of
remembrance this weekend.

Sharky’s life will be cele-
brated at Baptist Bible
Church, Soldier Road, at
11am on Sunday and after-
wards at a wreath ceremony
at Lakeview Cemetery.

His brother Dwayne told
The Tribune: “The regular

STR US CSTE
COE UCU i Te

THE TRIBUNE



congrégation will be there, but
we also want all his friends
and family to attend, too.

“We want people to remem-
ber.”

Sharky, 20, was killed in
cold blood while parked out-
side his home in Pinewood
Gardens on March 27, 2006.
His murder shocked the
neighbourhood.

A policeman has been
charged with the killing and
his case is still to be heard.

Cancer Society fundraising ball

THE Cancer Society of the Bahamas will host its 6th annual
fundraising ball on Saturday, June:2, at the Wyndham Nassau
Resort, under the theme, “The Colourless Ribbon: Our Symbol
of Hope”. The colourless ribbon, which is really a translucent rib-
bon, will represent all of the cancers that affect the Bahamas.
Organisers noted this collective awareness approach was taken
this year instead of highlighting one specific type of cancer, as was

done in past years.

¢ Members of the public who want more information can
contact the Cancer Society of the Bahamas at 323-4482 or

323-4441

MENT OF THE COMMONWEALTH OF THE BAHAMAS

——_—_—_—E—_——_ EEN MOUNWEAL TH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2026 AND 2027

= QQ SENSES REM SIVULK 2020 AND L027

The Registrar

FOR OFFICIAL USE ONLY
APPLICATION No.
ALLOTMENT No.

DATE:

c/o The Central Bank of The Bahamas

P. O. Box N-4868
Nassau, Bahamas

Sir:

V/We hereby apply for the following amount of Bahamas Registered Stock:

9/32% Above Prime Rate
5/16% Above Prime Rate

Insert below the amount applied for

in Units of B$100

and undertake to accept any less amount which may be allotted to me/us.

Y/We enclose B$

Bahamas Registered Stock 2026
Bahamas Registcred Stock 2027

BS
BS

in payment for the Stock applied for.

In the event of the full amount of Stock(s) applied for above is/are not allotted to

percent per annum over the Prime Rate (i.e. the prime commercial interest rate from time to time fixed by the me/us, Uwe request that the sum refundable to me/us be applied for the following Stock:

Clearing banks carrying on business in the Island of New Providence in The Bahamas. If there shall be any

difference between them, then that which is fixed by Royal Bank of Canada). Interest shall be payable half- 9

yearly commencing on 28th September, 2007 and thereafter on 28th March and 28th September in every year ~

until the Stock is repaid. 7
C

Bahamas Registered Stock BS
Bahamas Registered Stock BS
Bahamas Registered Stock BS
% Bahamas Registered Stock BS

. CHARGE UPON CONSOLIDATED FUND : ered be piaseale ate BS
r mas Regi: toc! B$

The principal monies and interest represented by the Stock are charged upon and payable out of the

Consolidated Fund and assets of The Commonwealth of The Bahamas.
. PAYMENTS CAN BE MADE VIA RTGS SYSTEM THROUGH ALL COMMERCIAL BANKS

EXCEPT FINCO, BY BANK DRAFTS PAYABLE TO THE CENTRAL BANK OF THE BAHAMAS
AND BY CASH.
SUPPLEMENTARY PROVISIONS

The Stock will be issued by the Registrar (The Central Bank of The Bahamas).
Applications will be received by The Banking Department beginning at 9:30 am on 16th
March, 2007 and will close at 3:00 pm on 26th March, 2007. Allocations will commence
at 9:30 a.m. on 27th March, 2007 and will cease at 3:00p.m. on 28th March, 2007. All
envelopes enclosing applications should be labelled “Application For Bahamas
Government Registered Stocks”.

Issue of Stock

1. (One Person)
Ordinary Signature

Units The Stock will be in units of B$100.00. Name in Full (BLOCK LETTERS, state whether Mr., Mrs., or Miss and titles if any.)

Applications Applications must be for B$100.00 or a multiple of that sum.

Application Forms Applications for the Stock should be made to the Registrar on the form attached to the
Prospectus and may be obtained from the Registrar offices in Nassau and Freeport, The
Treasury Department (Marlborough Street & Navy Lion Road, Nassau) or any of the
following banks:

Address (Corporations etc. should give Registered Addresses )

P. O. Box

Bank of The Bahamas International

First Caribbean International Bank (Bahamas) Limited

Finance Corporation of Bahamas Limited

Commonwealth Bank Limited

Royal Bank Of Canada

Scotiabank (Bahamas) Limited

Fidelity Bank (Bahamas) Limited (formally British American Bank(1993)
Limited)

Citibank, N.A

Telephone Nos. (H) (W)

2. (Where two or more persons apply as joint subscribers, the additional names and addresses should
be given below.)

PUBLIC DEBT



Ordinary Signatures

Provisional estimates from the unaudited accounts as at December 31, 2006 show the Public Debt of The
Bahamas to be B$2,880,739,000.*

Namesin Full

GOVERNMENT REVENUE AND EXPENDITURE
And/OR



The following information is extracted from the unaudited accounts of the Government of The
Commonwealth of The Bahamas.

Address



FY2005/2006p** FY2005/2006p** FY2006/2007p**
BS BS BS

Approved Budget Approved Budget Telephone Nos.(H)



Revenue ‘ 1,221,454,000 1,132,774,090 1,338,971,000

i ] interest to be paid to:
Recurrent Expenditure (excluding V/We hereby request semi annual interest to be paid to
Repayment of Public Debt)

1,269,560,000

1,149,582,000 1,145,691,000

Bank Name.



Capital Development
Expenditure (excluding loans
contributions and advances
to public corporations)

Bank Branch





123,454,000 132,901,000 162,356,000
** Provisional estimates from the unaudited accounts.
* — The Public Debt amount is inclusive of The Public Corporations contingent liability which as at

December 31, 2006 totalled B$499,067,000.

Account Number




THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 7



O ln brief

Arrest warrant
issued after
woman fails to
show in court

A WARRANT of arrest
was issued yesterday for a 36-
year-old woman who failed
to appear in court to face a
stealing charge.

It is alleged that Sheryl
McKenzie of Breadfruit Street,
between January and March
1, while at Yamacraw Hill
Road, stole $300 in cash, along
with jewellry and other items
together valued at $2,830; the
property Paulette Smith.

McKenzie was expected to
appear before Magistrate
Susan Sylvester at court 11 in
Nassau Street however failed
to show up and a warrant was
issued for her arrest.

New Guyana
sugar factory
to help after
EU cuts

m@ GUYANA
Georgetown

A SUGAR factory under
construction in Guyana is
expected to help the South
American nation survive
sharp subsidy cuts to cane
growers, the government said,
according to Associated Press.

Agriculture Minister
Robert Persaud said the plant
in the sugar-producing com-
munity of Skeldon will ease a
crunch on cane farmers in
Guyana, where the crop
accounts for roughly 20 per
cent of GDP, by increasing
local production capacity.

Built with assistance from
the Chinese government, the
factory is expected to pro-
duce 110,000 tons of sugar a
year, boosting Guyana’s
annual production to 450,000.

Other Caribbean nations,
such as Trinidad and St Kitts,
have been squeezed out of
the region’s beleaguered sug-
ar industry after the Euro-
pean Union cut subsidies for
producers from the
Caribbean, Africa and the
Pacific by 36 per cent.

Candidate questions
_Christie’s record in

own constituency

FNM Farm Road candidate
Ella Coulibaly-Lewis said it baf-
fles her that Prime Minister Per-
ry Christie “could fix his mouth
to brag about anything” when
his own constituency remains
in a deplorable condition.

“Any right thinking Bahami-
an could easily confirm this
information by driving through
Farm Road and by forming
their opinion, Mrs Coulibaly-
Lewis said in a statement yes-
terday.

She said one neighborhood
in particular, the Windsor Lane
West government apartment
complex — better known as the
Big Yard — is in a total state of
disrepair.

“After five years of poor rep-
resentation by the prime min-
ister Perry Gladstone Christie
himself, the 18-plus families
who call these apartments
home have a myriad of com-
plaints and find themselves liv-
ing under substandard condi-
tions,” she said. “We cry shame
on Perry Christie for allowing
this to happen and for so long.
He has proven that he could
care less.”

Mrs Coulibaly-Lewis
explained that in the apartment
complex, doors, windows and
steps are broken.

She said one family confided
that they have had to learn
which steps to avoid on the
stairwell so as not to fall
through.

“There are 20 broken win-
dows in the complex and no one
has made an attempt to correct
these problems. Many of the
occupants who reside in the
complex are single mothers with
small children as well as moth-
ers with children who have spe-
cial needs. They have made
numerous complaints to the rel-
evant authorities, but to no
avail,” she said.

“The residents have cried out
for security at this complex

Government apartments in a
shambles, claims FNM hopeful



MAN example of graffiti in the area

since many of the trouble mak-
ers do not live in the apartment,
but use the property for a short
cut. At night it is common
occurrence to hear gunfire.”
Mrs Coulibaly-Lewis said res-
idents have complained to her
that they feel as if they are in
the “wild wild west”.
Residents reported how one
young man was just gunned
down “a stone’s throw” from
their back door, she said.
“After numerous complaints
the Urban Renewal Police
promised to place an office in
the complex to stem the violent
activities, however this promise
never materialised. One resi-
dent said that it seems even the
police are afraid of the crimi-
nal activities in the Big Yard,”
the candidate said.
“If the prime minister really
cared, one drive past the com-



plex and he would see the
mounds of garbage. He would
see the intolerable conditions
for any human being to be liy-
ing in. There is one dumpster
for 18 families, the overflow of
filth most certainly has har-
boured and now breeds rodents.
This is situated next to where
the boys play basketball which
is unsafe, not to mention,
unhealthy.”

Mrs Coulibaly-Lewis, a
teacher and a mother, said she
feels for the people in the com-
plex, but does not expect Mr
Christie to respond.

While in the past few weeks,
painters arrived to apply a new
coat to the building, this is a
mere election ploy, and a case
of too little too late, said the
candidate.

She said the “help and hope”
Mr Christie promised, among





oe










@ THE site where local youngsters play basketball

other things, is not expected by
the people of the Windsor Lane
West government apartment
complex.

“The junkanoo shuffle and
the long speeches combined

Maa esti n ace
MF MIA EG
P:,.eae J

° coi noftherealmec*

ete hares eee bae tees
Saturday 24th March *

with all the pomp and circum-
stance can not satisfy the people
through Windsor lane. They
have had enough of the talk.
They want action and they want
it now,” she said.

awwan®

alf-Price SALE



on all items on display
PAGE 8, TUESDAY, MARCH 20, 2007 THE TRIBUNE
LOCAL NEWS





Members of the police, prison service and the
‘special operations team of the Royal Bahamas

Defence Force attended the Coral Harbour base on
Friday for a demonstration of new weapons.

The demonstration was conducted by Joe Selvagio,
an independent procurement agent for law
enforcement and uniform services, with technical
support from the American Manufacturers Association
and the British Manufacturers Association.

~ Mr Selvagio was working through Temprocure, a
Bahamian agency specialising in military gear.





@ JOE Selvagio talks about the new weaponry









m@ A MEMBER of the Special Operations unit tests one of the

Beard | | EVIE aTcaecal bata @ Oem Ri] seven

at Montrose Avenue
Rae nel oe Phone:322-1722 + Fax: 326-7452

PALMDALE AVENUE, NASSAU, BAHAMAS

PHONE: 322-4570/ 393-151 © CELL: mre 7 LARGE | SHIPMENT OF USED CARS

RANNIE PINDER President | :
Ram ic AN STOCK

ANDREW | COME CHECK) f |
WELLS, 46 oo

will be held at Holy Cross
Anglican Church on
Tuesday, March 20th, 2007
at 10:00am. Burial will be
in Woodlawn Gardens,
Soldier Road.











YOUR CONNECTION TO







INVITATION NOTICE
Pre-paid Card Vendors

The Bahamas Telecommunications
Company Ltd. (BTC), wishes to extend
an invitation to persons who are



















parents, Sidney and Ethlyn

On Premises

L. Wells; his wife, Suzette Clarke-Wells; three

brothers, Sidney (Allan), Wayne and Douglas Wells; co currently BTC vendors and all persons
sisters-in-law, Angela and Samantha; ten uncles, Ch k 0 p te

Joseph Fox, James, Franklyn, and McKinley Wells, Meck Uur Frice interested in becoming vendors to
Pastor Allan Lee, Winston Cartwright, Randolph Dy f : is ees Si sat Sages Las , :
Wells, Ernest and Raymond Fox and Rudolph Deal; ATOre buying attend a Vendor Meeting. This meeting

ten aunts, Lorraine Cartwright, Edna Wells-Fox, “
Nancy Lee, Hazel Wells, Violet Cartwright, Edna

Fox, Freda Fox, Helen Deal. Mary Harding and | i Bahamas Bus & Truck |
Carolyn Fox; six nephews Me leque |, Devan, Dane

Miguel, Stephan and Jaden Wells; one niece, Alc)

Wells; cousins, other relatives and frienils: Special 7 L a | a

/ He is survived by his =|

at 6pm, location Worker’s House



thanks to Mr Rupert Roberts and family, the staff of

Super Value. General information and the benefits
of being a BIC vendor will be

discussed.

Friends may pay their last respects at Pinder’s Funeral |
Home, Palmdale Avenue, Palmdale on Monday,
March 19th, 2007 from 1pm until ep:

PLY UN ONE TTR TES OCTET RET Te _

| will be held on Thursday March 224


v7
se

$8 Be wer

@ecd

“Se ee ~ + 2 0 Oe wT Tienes

“General Arthur

THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 9



PM tables
boundaries
report

FROM page one

The constituency known as
Holy Cross is now renamed
Seabreeze.

“This takes into account
the predominance of voters
of Seabreeze,” he said.

Save for some boundary
changes in Andros, the prime
minister said, the Commis-
sion did not recommend any
changes to be made to the
boundaries of the LO Family
Island constituencies.

Mr Christie concluded that
the draft order by Governor
Hanna,
which gives effect to the con-
clusions of the Boundaries
Commission, “fully recognis-
es and reflects as nearly as
possible the actual distribu-
tion of voters in the Bahamas
and realistically takes note of
the distribution as between
New Providence and the
Family Islands, on the one
hand, and between New
Providence and Grand
Bahama on the other.”

“The dratt order is fair and
equitable and in full accor-
dance with the mandate in
Article 70(2) of the Consti-
tution of the Bahamas.” the
prime minister said.

US treasury
secretary
pushes hiofuels
in visit to

Latin America

HB GUATEMALA CITY

U.S. TREASURY Secre-
tary Henry Paulson arrived
in Guatemala on Monday,
vowing to back efforts to
expand the benefits of free
trade for more of the region's
poor, according to Associated

‘Press.

Paulson's appearance at
the Inter-American Devel-
opment Bank's annual meet-
ing comes on the heels of
U.S. President George W.
Bush's swing through Latin
America, when he cemented
an ethanol-promotion agree-
ment with Brazil that offi-
cials said would stimulate
development in tropical
nations of the Américas.

In a statement issued
before he began his trip,
Paulson said he hoped "to
work with leaders in the
region to ensure that more
people share in the benefits
created by economic growth
and trade opportunities."

He said he would also dis-
cuss debt relief for the hemi-
sphere's most impover ished
countries.

But other officials here
also said that ethanol would
be a major focus of the meet-
ings.

U.S. and other foreign
investors have expressed
interest in using Guatemala
as a base for exporting
ethanol to North America,
Guatemalan Finance Minis-
ter Hugo Eduardo Beteta
said on the sidelines of the
meeting, which ends Tues-
day.

While Brazil leads the
world in ethanol exports, its
exports to the U.S. are
restricted by a 54-cent-per-
gallon U.S. tariff on its sugar-
based ethanol. As a result,
many in the ethanol industry
have been taking a look at
Central America and the
Caribbean, which also are
important sugar cane pro-
ducing regions. Sugar
accounts for nearly a quar-
ter of Guatemala's agricul-
tural production.

Caribbean and Central
American countries also
enjoy preferential trade quo-
tas and a limited amount of
tariff-free trade in ethanol
with the United States under
the Central American Free
Trade Agreement and the
Caribbean Basin Initiative.

Guatemala has been
preparing for the possibility
of becoming an export base,
upgrading its largest port,
Santo Tomas de Castillo, on
the Caribbean coast, and car-
rying out certification proce-
dures, Beteta said.

A top Brazilian a and
ethanol group, Unitalco,
recently announced it was
considering a joint venture
in an ethanol dehydration
plant to be based in

FROM page one

As previously reported by The Tribune,
major changes within the police force
include the transfers and promotions of
Assistant Commissioner of Police (ACP)
Reginald Ferguson, Assistant Superinten-
dent of Police (ASP) Marvin Dames and
Grand Bahama’s ACP Elliston
Greenslade.

Both Mr Ferguson and Mr Greenslade
will be part of the newly appointed senior
assistant commissioners.

Although some factions within the force
claim that the changes are “politically moti-
vated,” Commissioner of Police Paul Far-
quharson in announcing the changes yes-
terday said that the restructure and expan-
sion of the police is aimed at targeting the
country’s high level of crime and creating a
performance based organisation with high-
er accountability and transparency.

“Both the Prime Minister and the
Deputy Prime Minister have said publicly
that crime is at an unacceptable level. The
expansion and reposition of responsibility
in the police is the front end of the
increased resources that we hope will be
allocated to combat crime and other
resources which include improving com-
munications, more vehicles, greater col-
laboration with the Defence Force and
more policemen,” Mr Farquharson said.

The police commissioner said that the
strategy is to place experienced and accom-
plished officers in crime fighting positions
that will comprise the “vanguard of the
action against crime.”

To that end, ACP Elliston Greenslade,
who currently heads the northern Bahamas
district, will transfer on promotion as senior
assistant commissioner of police and will
head the crime division of the Bahamas.

Chief Supt James Carey, who is present-
ly attached to New Providence’s forensic
laboratory, will be transferred on promo-
tion to assistant commissioner in charge
of all of New Providence.

The vision, Mr Farquharson said, is that
these two officers will collaborate and

Sea tragedy
victim claims
govt is not
living up to
responsibility
FROM page one

the media that he was about
to be kicked out of his home
because he has been unable
to work because of his dis-
ability from the accident.

After the 2003 accident,
Mr Hart remained ina
coma for almost two years.
Since then he has suffered
from a leg injury.

Mr Hart said that the
Ministry of Social Services
promised to assist his fam-

ily, but he claims he has received no assistance from gov-

ernment up to this point.

In December 2006, the survivors of the Sea Hauler/United
Star boat tragedy tried to get the media’s attention by block-
ing the path of House of Assembly members as they entered

the lower chamber.

‘The survivors, who also staged a demonstration at Potters
Cay Dock, said they had fallen on hard times and had still not
received financial assistance from government — some three

years after the accident.

The group crossed the path of Agriculture and Marine
Resources Minister Leslie Miller who told them that the Port
Authority should not be blamed for the accident as some in

the group had suggested.

Meanwhile National Security Minister Cynthia Pratt and
Transport Minister Glenys Hanna-Martin said they would
re-examine the matter to see what could be done to assist the

victims.

Accompanied by his three young children and fiancée, Mr
Hart told the media yesterday that
part of the responsibility for the Sea Hauler accident and
promised to treat this like a national disaster with swift justice
and a quick closure. But so far, people are still suffering

everyday.”

He said that his family needed immediate assistance from
the Ministry of Social Services because his landlord had
already taken the roof off his home and his family would

soon have no place to stay.

“If we as a country can find money to send to New Orleans
to help the hurricane Katrina victims, why can’t we as a
nation find funds to help the Sea Hauler and United Star
victims who are right here in our country?” Mr Hart asked.

The Sea Hauler and United Star collided in the early hours
of the morning of August 2, 2003. Four passengers were
killed and 25 others were injured in the accident.

PARTS MANAGER/SUPERVISOR
NEEDED

For an expanding Freeport Auto Dealership.

Successful applicant must have a thorough
understanding of computerized inventory
systems and must be willing to supervise
and train others. Knowledge of Japanese
and Korean parts is a must along with
proven dealership experience.

Attractive and competitive remuneration
package available to successful applicant.

Please apply in writing to:

PARTS

P.O. Box F-41060
Freeport, Grand Bahama



@ SEA tragedy victim Cedric
Hall (shown with his family) is
seeking compensation from the
government.

“government accepts



Police Force restructuring is officially announced



& COMMISSIONER of Police Paul Farquharson on Monday announced the pro-
motions of four Assistant Commissioners of Police to the rank of Senior Assistant Com-
missioner of Police and the further promotions of six persons to the rank of Assistant Com-
missioner of Police. Shown in an official portrait at Police Headquarters are from left
(front row) Senior Assistant Commissioner of Police Ruben Smith; Senior Assistant Com-
missioner of Police Reginald Ferguson; Commissioner of Police Paul F arquharson;
Deputy Commissioner of Police John Rolle; Senior Assistant Commissioner of Police
Allan Gibson; Senior Assistant Commissioner of Police Ellison Greenslade. (Back row)
Assistant Commissioner of Police Marvin Dames; Assistant Commissioner of Police Chris
McCoy; Assistant Commissioner of Police Juanita Colebrooke; Assistant Commission-
er of Police James Carey; Assistant Commissioner of Police Kirkland Hutchinson;
Assistant Commissioner of Police Eugene Cartwright.

mount effective crime suppression pro-
grammes by increased and more effective
uniform presence on the street and will
work to improve the already impressive
detection rate in serious crimes.

ACP Ferguson, who up until now served
as the officer-in-charge of crime, will upon
promotion to senior assistant commission-
er head the education and training unit.

The police commissioner explained that
in response to the increased levels of crime,
police will have to enlist and train the max-

(Photo: Tim Clarke)

FROM page one

Mr Stubbs said that he also does not think it
unfair that MPs Keod Smith, Kenyatta Gibson
and Shane Gibson, who all had their share of
scandals to contend with in recent months,
were renominated.

“Keod Smith and Kenyatta Gibson and
Shane Gibson, they’re my colleagues, they are
my friends, they have the legitimate right to
run in their constituencies.

“Their constituencies were not cut, Mount
Moriah is still Mount Moriah, Golden Gates is
still Golden Gates, Kennedy is still Kennedy.
There is no Holy Cross, the heart of Holy
Cross was taken out.
should run, their constituents still want them
and support them,”

Mr Stubbs said that he could not reveal at
which time he was informed that he would
not be renominated for his seat, but said he
was not shocked by the decision.

“Nothing shocks me in politics.

“It’s politics, that’s the life of a politician.

ONE COMPANY

(BIS Photo: Tim Aylen)

imum number of recruits possible on a sus-
tained basis. Police, he said, will also have
“to foster improvements in broad educa-
tion at all levels of the force as well as
develop a cadre of specialists capable of
responding to existing and rising chal-
lenges.”

Mr Ferguson, the police commissioner
said, will bring his “considerable expertise
and experience in policing in crime fighting
to bear on his new field of education and
training.

So those gentlemen

he said.

Position Summary
The successful candidate will: develop tools and applications to ensure the
overall efficiency of the business processes; maintain and enhance the core
line of business applications as necessary; and work with Senior
Developers to implement new technologies.

Job Requirements

You win some and you lose some,”

Mr Stubbs said that he views this turn of
events as a sabbatical for himself.

“T take it as going away and coming back at
some future date, I’m still young,” he said.

Mr Stubbs said that he will be working on
the campaigns of Prime Minister Perry
Christie and MPs Vincent Peet and Bernard
Nottage.

He said that he will especially be working
with Mount Moriah MP Keod Smith.

“T will be working with Keod Smith to
ensure he goes back to parliament and to Cab-
inet next time around,” he said.

Until parliament is dissolved, Mr Stubbs

said, he is still the incumbent for Holy Cross

and will continue to have a presence in the
area, even when it becomes the Seabreeze
constituency.

Mr Stubbs was the only PLP incumbent not
to be renominated for his seat.

ONE GOAL

However, several political pundits have
charged that ACP Ferguson is being moved
because of the role he is alleged to have
played in the arrests of the five baggage
handlers from Nassau Flight Services, who
are currently behind bars in the United -
States for reported drug smuggling.

As for heightened concerns about con-
traband being smuggled through the Lyn-
den Pindling International Airport, Police
Commissioner Farquharson yesterday
announced that the current head of the
Criminal Detective Unit, Chief Supt Mar-
vin Dames will be promoted to assistant
commissioner and will be put in charge of
the new unit that will concentrate on secu-
rity and monitoring of seaports and air-
ports.

In a move the commissioner of police
described as “history in the making”,
Woman Chief Supt Juanita Colebrooke is
being promoted to the rank of assistant
commissioner and will from now on head
the division of community policing and
security, which includes the urban renew-
al programme.

Among other transfers and promotions
are the following:

e Assistant Commissioner Alan Gibson,
who currently heads the New Providence
division, will assume a coordinating and
development role with the objective of fos-
tering articulation between the uniform
service and the detective service in New
Providence, Grand Bahama and the Fam-
ily Islands.

¢ Chief Supt Kirtland Hutcheson will be
promoted to assistant commissioner and
head the complaints and corruption unit.

e The southern Bahamas division, which
now also includes the central division, will
be headed by Chief Supt Jeff McCoy upon
his promotion to assistant commissioner.

e Supt Keith Bell will be promoted to
Chief Supt and will head the newly estab-
lished security and legal services unit.

Sidney Stubbs

he said.

oes

in

YX uber Garwe

ONE CHOICE

Colinalnperial Insurance invites interested persons to submit applications for the
position of Systems Developer in the Information Technology department.

Systems Developer

Must have a Bachelor's degree in IS or equivalent technical certifications

Minimum 3
or AS/400 C ‘obol
Minimum 2 vears programming experience in SQL

Knowledge of industry stand ards rez System Change Control procedures
Practical experience in insurance or banking fields preferred

Excellent attention to detail
Excellent analytical and problem solving skills
Strong verbal and written communication skills
Strong leadership and organizational skills

Knowledge of the following

Responsibilities

Development of new applications to improve the business process

Creation of technical speci

XBase

CICS for AS400

Java / Perl /XMI.

Tomeat

Crystal Reports

Microsoft Development (NET)

Include

3 years programming experience with AS400 CL, RPG IV / ILE

would be an asset:

Supporting maintenance & enhancement of existing applications

Implementation of changes using established testing procedures and change control
Troubleshooting of problems related to RPG and Cobol AS400 programs

fications and design documents

Work with team of developers and analysts to complete corporate objectives

Compensation will be commensurate with experience and qualifications.
hosed submit your resume to our Corporate Headquarters, a8 East Ba Sree
1: Vice President, Human Resources or submit via email to Careers@

ee line: Systems Developer. Deaclline for all submissions: 7

Colinalmperial is 100% Bahamian-owned and of

including share ownership and career


PAGE 10, TUESDAY, MARCH 20, 2007 THE TRIBUNE



FRIDAY EVENING MARCH 23, 2007

[7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30

NETWORK CHANNELS

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Mr. Slocombe dinner. Vicar’ M (CC) Basil's temper.

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THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 11



CARIBBEAN NEWS

Cuban opponents assume

lower

profile while watching situation

@ HAVANA

THE wives of several dozen
political prisoners still don white
each Sunday to march silently
for their husbands’ release, and
a leading human rights group
still issues its twice-yearly report
on prisoners of conscience,
according to Associated Press.

But eight months after Fidel
Castro fell ill and four years
after a broad crackdown on dis-
sent, Cuba’s organised opposi-
tion generally has assumed a
much lower profile as it waits
to see how the island’s political
situation develops.

“Cuba is a country in wait-
ing,” veteran rights activist
Elizardo Sanchez said. “What’s
going to happen with El
Comandante? What’s going to
happen afterward?

“Tf all of the population is
waiting, the dissidents have no
reason to be running back and
forth,” added Sanchez, whose
Cuban Commission on Human
Rights and National Reconcili-
ation issues the list of political
prisoners every six months.

Since Castro announced July
31 he had undergone intestinal
surgery and temporarily ceded
power to his brother Raul, the
flood of open letters and stri-
dent statements that govern-
ment critics sent to internation-
al media have thinned to a driz-
zle.



@ CUBA’S “Ladies in White” walk holding flowers during a march in Havana on Sunday to
commemorate the crackdown that jailed 75 opponents of the Cuban government four years ago

The news conferences once
held regularly by a host of tiny
dissident groups are now
increasingly rare.

“The most optimistic thought
they were going to see a series
of Chinese-type reforms,”
Sanchez said, referring to com-
munist China’s mix of state-run
market reforms with a strong

one-party political system. “But
what has been seen is an almost
feudal-style succession; every-
thing remains the same.”

The communist government
is proud of how calm the coun-
try has remained since 75-year-
old Raul Castro took the reins
from his 80-year-old brother.

Although the elder Castro’s

(AP Photo/ Javier Galeano)

condition and exact ailment
remain a state secret, he is wide-
ly believed to suffer from diver-
ticular disease, which can cause
inflammation and bleeding in
the colon. It seems unlikely that
Castro will return to govern full-
time, but several top officials
have recently indicated he is
recovering so well that he just

might.

Meanwhile, no major changes
have occurred, and Raul Cas-
tro has given no strong indica-
tion he plans any reforms.

“Today, Cuba is living
through an especially uncertain
moment owing to Fidel Castro’s
illness,” Miriam Leiva, one of
the prisoner’s wives, wrote
recently for a Web site outside
Cuba called “Encuentro,” or
Encounter.

That uncertainty is accompa-
nied by fear of another crack-
down like the roundup of 75
dissidents launched four years
ago this week.

"We cannot rule out a new
wave of repression,” Leiva
wrote, “instead of the urgent
changes required for the critical
political, economic and social
situation the people face.”

Leiva and the other women
known as the “Ladies in White”

__ were the only ones to publicly

mark the crackdown anniver-
sary over the weekend, with a
small gathering at a home Sat-
urday as well as their regular
silent Sunday march.

Cuba’s three-day crackdown
was launched on March 18,
2003; just as the first US military
strike on Iraq was getting under
way.

Governments and rights
groups around the world con-
demned Cuba as it tried the dis-
sidents as “mercenaries” work-

ing with Washington to under-
mine Castro’s socialist system
and sentenced them to prison
terms of up to 27 years. Both
the dissidents and American ©
officials denied the US govern-
ment paid opponents to harm »
Cuba.

Sixteen of the original 75
have since been released on
medical parole, leaving 59
behind bars. They are among
the 283 prisoners of conscience
Sanchez’s commission says were
held in Cuba at the beginning of
this year — 50 fewer than those
counted in January 2006.

Although the number of
political prisoners has dropped,
Sanchez said “low-profile
repression” against opponents is
up.

Fellow commission member
Carlos Menendez was detained
and questioned last week after
using the Internet service at the
US Interests Section, the Amer-
ican mission here. ©

Ernesto Martini Fonseca, a
co-ordinator of the: Christian’
Liberation Movement, was
detained earlier this month and
pressured to abandon his oppo-
sition activities, according to a
news release from the group.

“We don’t feel hatred, but we
are not going to be paralysed
by the threats and repression,”
Oswaldo Paya, the movemen-
t’s most prominent leader,
wrote in the release.

secceccecceccecseceeeuscsescsccecenssneesecseeueeeeceseeeeseeseeeessesershaseseeeseaseaeneeseSGeeseGseDSSeeseneeGenseeeesesee nates eeenensessntnseneeterteeeneesenseeeneet ene ePee ese EhGEe eet ES SSeS eG Eases eens ees Es esas OF eEt AGE eeessEs ens ee ees EF es EEEREEs Ens Enens esses ee Es AE EP EDGES ESE OLE DSASEGOETERESE ESE STOSI OLE GE ODDEST OSES OLEOTO CUES EEE Teet eee eE Cases eens essen ee sas asses ssene essen saneasensenecenere

Carnival reports increase in Caribbean bookings

@ MIAMI

CARNIVAL Cruise Lines
reported Monday a company-
record 28 per cent increase in
reservations for a six-week
booking period, an indication
that lower prices have helped
the company spur demand in
the sluggish Caribbean market,
according to Associated Press.

The world’s largest cruise
brand said net individual reser-

vations from Feb. 5 through
March 18 for its 22 ships were
up 28 per cent compared to a
year ago. Capacity increased 6
per cent during the same period,
which also saw the highest num-
ber of individual reservations
received in any other six-week
span in the cruise line’s 35 years,
the company said.

Nineteen of Carnival’s 22
ships operate in the Bahamas
and the Caribbean, where the

alee ll
Improving On Excellence!

cruise industry has cut prices
and added incentives amid an
overall sluggishness in book-
ings. .
“Clearly consumers are tak-
ing note of the tremendous pric-
ing available right now on our
Caribbean voyages and the
inherent quality and value of a
Carnival cruise vacation,” said
Bob Dickinson, president and
CEO of the Miami-based line.

Industry executives have said

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the troubles in the Caribbean
are a cyclical problem based on
problems in the US economy,
specifically the housing market
and lending issues, that have cut
into consumer travel spending
and affected the middle market
demographic — which Carnival
targets.

While the new booking num-
bers do not mean that the
Caribbean market has recov-
ered, it does show that reserva-

tions were above capacity
growth, “which is good news,”
said Joe Hovorka, an analyst
with Raymond James & Asso-
ciates,

“From an investor’s stand:
point, what you’re going to look
for is, ‘Does this mean prices
are going to stabilise a bit in the
Caribbean?’” Hovorka said.

The company attributed part
of the increase to a one-day sale
event on March 1 that generat-

ed the highest number of indi-
vidual reservations in a single
day. Carnival will offer another
one-day sale event on Thurs-
day, which will include free
upgrades on minimum-priced
balcony staterooms.

Starting prices include $249
for three-day Bahamas cruises
from Miami, and $499 for sev-
en-day Caribbean cruises on a
per person, double cenpaney
basis.

Cola.

Caribbean Bottling Co. (Bah.) Ltd

Has a vacancy for a Laboratory Technician.

Responsibilities include, but are not limited to:

°Verifying incoming materials
¢Microbiological testing
eEnsuring finished product quality

@

The successful applicant will be a highly motivated

individual,

who is able to perform in a fast paced

environment. A minimum of an Associates Degree in
a science related field or prior laboratory experience

essential.

Must be willing to work day, night and weekend shifts

when necessary

Salary will be commensurate with experience.

Please submit written resume to on or before March

30th, 2007, to:

The Human Resources Department

P.O. Box N-1123

Nassau, Bahamas




PAGE 12, TUESDAY, MARCH 20, 2007

THE TRIBUNE





Massive fire destroys

‘Tops Lumber yard —

FROM page one

‘that the operation to com-
pletely extinguish the blaze
‘will continue through today
he said.
Inspector Evans could not
give a definite number of how
many people were at the scene
assisting in extinguishing the
blaze, but estimated that some
“100 persons, including officers
~from the police fire depart-
‘ment, the airport crash and
‘fire rescue department, emer-
‘gency medical personnel as
well as personnel from The
‘Bahamas Electricity Corpora-
‘tion, were there.

Tops Lumber Yard and
Plumbing Supplies reportedly
employed some 50 individu-
als.

Police have not yet deter-
‘mined whether the devastat-
ing fire was an act of arson.

(Photos: Felipé Major/
Tribune staff)


































_ FROM page one

sign the report.

“It demonstrates his disgust with the
methods they (government) were using
to impose their will without any effort
at all to compromise at all, which is
what we did when we were in office,”
Mr Ingraham said.

The FNM leader also said that the
way the boundaries have been cut will
require significantly more ground work
to be done in determining which voters
need to seek out which polling office
come election day.

Tabling the long-awaited report by
the Boundaries Commission yesterday
in parliament, Prime Minister Perry
Christie said that among the proposed
changes is the transfer of polling divi-
sion number three in the Bain and
Grants Town constituency into St
Cecelia.

BDM pledges to stand
up to gerrymandering





Brent Symonette

“This modification reflects the tra-
ditional composition of the environs of
the St Cecelia constituency and trans-
fers back therein the historic St Barn-
abas Church and its environs,” Mr
Christie explained.

However, Mr Ingraham said that it
is changes like these which will increase
the work load of the parliamentary reg-
istrar’s office in the very limited time
before the election.

“A constituency is made up of a num-
ber of polling divisions and a polling
division has a certain number of votes
in it.

“Some of the recommendations sug-
gest that some polling divisions are to
be cut, that produces some complica-
tions because the parliamentary regis-
trar may have to go on the ground



FROM page one

Lynden Pindling threw the Mace
out of the House of Assembly
window to protest the unfair ger-
rymandering of constituency
boundaries of the then United
Bahamian Party (UBP) govern-
ment.

Yesterday, Mr Stuart told the
media that the next general elec-
tion will be filled with confusion
and chaos.

“Today we find ourselves right
where we were in 1962, cheating
to win an election and subverting

the democratic process,” he
said.

The BDM leader alleged that
previous prime ministers have
“cheated and lied” to get where:
they are. According to him, times
have not changed.

The Boundaries Commission
report was to be presented
before the House of Assembly
yesterday.

The Family Island constituen-
cies are expected to remain the
same, but a new seat has beer
created in New Providence,
bringing the number of House
seats to 41.

For a LIMITED

TIME!
Take



5-star crash safety - NHTSA





physically to check to see who lives on
which side of the road,” he said.

With only a few weeks to go to the
next general election, Mr Ingraham
said, government should have sought
to avoid any changes to the boundaries
which require so much more addition-
al logistical work.

The FNM leader also said that the
report should have been completed in
November — five years after the last
Boundaries Commission report was
presented to parliament — and that he
had never in his political career seen
constituencies determined at’such a
late date before an election.

Nevertheless, the FNM has said it
will do all that it can to expedite the
debate and the passing of the report
in parliament.

“We are only interested in
relative equality and numbers,” Mr
Ingraham said speaking of the bound-
aries. :

a
@ BDM leader Cassius Stuart speaks yesterday. :
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TUESDAY, MARCH 20, 2007



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Fouling at 50 per Resort ac

cent of Blue Hills
plant’s units

@ By NEIL HARTNELL
Tribune Business Editor

CONSOLIDATED Water
said yesterday that half the pro-
duction units at its $29 million
Blue Hills reverse osmosis plant
had. experienced water mem-
brane fouling problems, adding
that it now felt “our problems
are in check” and would not
impact service to the Water &
Sewerage Corporation (WSC)
and Bahamian consumers.

Rick MacTaggart,' Consoli-
dated Water’s president and
chief executive, told financial
analysts during a conference call

that the company had experi--

enced “start-up” problems at its
flagship plant that had resulted
in it incurring increased pre-fil-
ter and energy costs as a result
of the membrane fouling.

Mr MacTaggart added that
membrane fouling had impact-
ed “half the production units.
We’ve now isolated the prob-
lem wells and implemented
changes to mitigate the foul-
ing”.

Tribune Business reported
yesterday on how membrane
fouling at Consolidated Water’s
other New Providence-based
reverse osmosis plant, Windsor,
has caused ongoing problems
for the company, seeing it incur
penalties of $367,257, $571,349,
— and $313,408 in 2006, 2005, and
— 2004, respectively for not meet-
ing minimum water volumes
supplied to the WSC.

However, Mr MacTaggart
yesterday said the issues at the

7.2 million gallons per day Blue.
Hills plant would “not impact:

our operations in the Bahamas
nearly as much as they have at
Windsor”. ,

He added that these issues
would have no effect on Con-
solidated Water’s chances of
landing further build/own/oper-
ate contracts from the Bahami-
an government for other
reverse osmosis plants, includ-
ing the proposed 2.4 million gal-
lon per day Winton plant.

BISX-listed-Consolidated
Water says problems ‘in
check’; admits water loss
component of Bahamas
contract ‘unusual’

Pointing to the keynote
speech given by Prime ‘Minis-
ter Perry Christie at the official
commissioning of the Blue Hills
plant last week, Mr MacTag-
gart said the Bahamian govern-
ment’s policy was to continue

the expansion of reverse osmo- -

sis desalination plants through-
out the Bahamas, develop a
long-term management plan for
water facilities and resources,
and adding additional waste-
water treatment capacity.

“The Bahamas is continuing
to present opportunities for us,”
Mr MacTaggart said. “During
that week, the Government
released tender documents for a
desalination plant at the east-
ern end of the island, [which
will supply] 2.4 million gallons
per day to the WSC. Certainly,
we are working on a bid for that
project.”

Wall Street investment and
financial analysts were espe-
cially interested in the terms of
Consolidated Water’s Blue Hills

contract relating to its efforts

to reduce non-revenue water
(NRW) or water leaking from
the WSC’s distribution system.
Mr MacTaggart estimated that
between 40-50 per cent of water
pumped around the WSC sys-
tem every day was lost through
leakages.

Tribune Business revealed
yesterday that Consolidated
Water’s overall gross margin on
water sales from Blue Hills was
“greatly reduced” during the
2006 fourth quarter because,
until it proves it has reduced
water losses from New Provi-

SEE page 6B

Senate

quired 144

Crown Land acres

Documents show pattern of selling Crown Land to developers in recent years,
highlighting need for laws, policies and regulations to govern this area

a By NEIL HARTNELL

Tribune Business Editor

major resort
developer was
granted more
than 144 acres
of Crown Land

’ for a combined purchase price

of almost $650,000, documents
tabled in the House of Assem-
bly by Prime Minister Perry
Christie have revealed, with the
Government granting land to a
number of tourism-related pro-
jects between 1992-2006.

Documents detailing who
obtained Crown Land, where,
the amount of land, and the
purchase price paid, show that
on April 19, 2005, Abaco Land
Ltd - the holding company for
the Abaco Club at Winding Bay
project, which was the brain-
child of entrepreneur Peter de
Savary - made three separate
payments for Crown Land at
Cherokee Sound, Abaco.

The Abaco Club project,
which is now a 50/50 joint ven-
ture with resort chain, Ritz-
Carlton, paid for Crown Land
in three separate tranches.

It acquired 18.02 acres for a





@ CHRISTIE

sum of $81,079; then purchased
a further 54.4 acre block for
$244,786, and finally complet-
ed its Crown Land acquisition
spree by obtaining 72.027 acres
for $324,133. ,
Combined, Abaco Land
acquired the 144 acres fora
price of $4,514 per acre.
Another person who
obtained a large slice of Crown
Land, this time in Exuma, was
Lester Smith, a Bahamian real
estate and property developer,
who ts the cousin of former

Rolleville MP and current
Hotel Corporation chairman,
George Smith.

Lester Smith acquired 71.262
acres on Wax Cay for a sum of
$448,950 paid on November 18,
2005, with the grant drawn on
May 23, 2006. It is understood
that Mr Smith is constructing a
resort development on Wax
Cay, and paid a price per acre
for his Crown Land of almost
$6,300.

His purchase accounts for
almost two-thirds the value of
the $698,620 spent on purchas-
ing Crown Land on Exuma
between 1992 and 2006.

There is nothing to suggest
there is anything wrong with
either the deal to Mr Smith or
Abaco Land, but the issue of
selling or leasing Crown Land
to developers - especially for-
eign investors - has become a
hot issue in the Bahamas, where
the supply of land is in finite
supply.

The increase in resort devel-
opments, especially of the
mxed-use variety in the Family
Islands, where there is a large
residential or real estate com-
ponent, have caused concerns

about whether property prices
and land would be pushed up
out of reach of the average
Bahamian.

What the documents tabled
by the Prime Minister do show,
though, is the need for a
National Land Use Policy and
administrtion better adminis-
tration of Crown and Treasury
Land, so that both Bahamians
and developers alike could see
what land was available and
where to meet their respective
needs.

The Prime Minister tabled
the documents in response to
requests from independent MP
Tennyson Wells, who said he
and some partners were propos-
ing a resort development for
Long Island and wanted to
know whether Crown Land was
available for them to either pur-
chase or lease.

Mr Wells pointed out that if
Crown Land was sold or leased
to Bahamians, they could then
use it as collateral to obtain
financing for business projects.

Interestingly, the documents

SEE page 5B

Abaco Markets to close asset sales by April

Firm makes $1.06m Q4 profit, with full-year continuing operations loss down from $2.1m to $50,000

B® By NEIL HARTNELL
Tribune Business Editor

ABACO Markets is hoping
to complete the last two stages
of its divestment progamme -
the sale of its Turks & Caicos-
based Cost Right store and $2.5
million BSL Holdings stake -
by the end of April 2007, moves

Ae iain Te

DL Onie a rea

oe at

*

16.22%

Last 12 months

that will wipe out its bank debt
following a quarter in which it
made a $1.06 million net profit.

Gavin Watchorn, the BISX-
listed retail group’s president,
indicated to The Tribune that
the company and its long-suf-
fering shareholders were now
starting to see ‘light at the end
of the tunnel’ following four

Average Annual Return
Since Inception February 1999

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successive years of losses and a

major turnaround/asset dispos-

al drive.

He explained that the $2.7
million Cost Right Turks store
sale, coupled with the BSL
Holdings divestment, would
both wipe out Abaco Markets’
debt to Royal Bank of Canada
and bring the divestment initia-
tive to a close.

“That wipes out our bank
debt, and we’re still on track for
the end of March [to complete]
for BSL, and the end of April
for Turks,” Mr Watchorn told
The Tribune. “It’s my expecta-
tion that they will be completed
by those dates.”

Adding that he was “posi-
tive” on the company’s future,
Mr Watchorn said: “Obviously
we have a lot of work still to
do, but we’re happy we’re mov-
ing in the right direction. We
are now seeing the dividends
from our ‘core markets’ and
divestment strategy, and that
should continue into the first
quarter” of the current fiscal
year.

“We believe we made the



& WATCHORN

right strategy decision, and feel
the results are showing that. We
just have to work hard at better
buying and customer service,
and reducing shrinkage, and the
results are showing improve-
ment,” Mr Watchorn added.
For the fourth quarter, which
ended on January 31, 2007, also
the company’s year-end, Abaco
Markets saw net operating prof-
it on continuing operations
increase to $640,000 compared

SEE page 8B

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INTERNATIONAL REALTY



f 242.322.2033 |
PAGE 2B, TUESDAY, MARCH 20, 2007

THE TRIBUNE



Election candidates must pay attention to proper disclosure

his week we finally saw
the long-awaited
Boundaries Commis-

sion Report presented to Par-
liament. As the report was
widely leaked the previous
week, it contained no new sur-
prises. In summary, for New
Providence, it provided an addi-
tional constituency, altered the
boundary lines for many more
and created several new con-
stituency names. In Grand
Bahama, some boundary lines
would have also changed, and

for the rest of the Bahamas
everything remained essentially
unchanged.

Public Disclosure

However, the purpose of
today’s column is not to discuss
constituencies and the like, but
rather to discuss public disclo-
sure requirements. In October
1976, the country passed the
Public Disclosure Act, and its
purpose was to ensure that
elected officials and senior pub:
lic officers do not enrich them-

selves at the public’s expense
while holding elected office.

The date of commencement of

this law was January 3, 1977,
which means that we now have
over 30 years’ experience with
the process of public disclosure
declarations.

What is also very interesting
to note is that the Act provides
for fines of up to $10,000 or
imprisonment for periods up to
two years for those failing to
tile. or for those knowingly
making “any false statement in

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such declaration”. In addition

to the above, the Act stipulates: »

“Where the offence involves the
deliberate non-disclosure of the
property of a Senator or mem-
ber of Parliament, the court
shall in addition to the imposi-
tion of a fine or term of impris-
onment or both -

i. If the property involved is
situated within the Bahamas,
declare that it be forfeited to
the Government.

ii. If the property involved is
situated outside the Bahamas,
order that an amount equiva-
lent to the value of such prop-
erty (the value to be assessed
as directed by the court), be
paid by the Senator or Mem-
ber of Parliament to the Gov-
ernment.”

Similarly, the same penalty
(as above) applies to any person
who, after the publication of a
summary of a declaration, “pub-
lishes any statement whatever
challenging the accuracy of that
summary or the honesty or
credibility of the declarant oth-
erwise than by way of complaint
to the Commission”, or “‘makes
any frivolous, vexatious or
groundless complaint to the
Commission in relation to a
summary of a declaration”.

The Act certainly contains
very serious provisions relating
to the filing of information and
public commentary on infor-
mation filed. ‘This leads one to
conclude that the intention was
for strict adherence, while pre-
sumably giving the declarant
protection from unwarranted
public criticism.

But what is the position of
genuine and legitimate com-
mentary that raises questions in



Financial
Focus

’ 5 eles ACitet





the public interest? It seems to
me that if information has to be
placed in the public domain,
why should the public be limit-
ed to challenging the accuracy
only to the Public Disclosure
Commission? This must surely
be counterproductive to the
development of democracy,
good governance and trans-
parency.

In other words, it makes no
sense whatsoever, in my humble
opinion. Could you imagine
such legislative restrictions
existing in the US, Europe or
any other mature democracy?
In its 30-plus years of existence,
I have never heard of the Com-
mission publishing any type of
report summarising the amount
of complaints received, investi-
gated or settled.

Past History

While the intent of this piece
of legislation is noble, I have
often argued that the exercise,
as it has historically been per-
formed, serves little useful pur-
pose at all. The relevance of
what is published generally
seems fraught with inconsisten-
cies and apparent misunder-
standings of basic accounting
and valuation concepts.

The only time I am aware of

‘ when these statements are pub-

lished widely is when candidates
are nominated to contest seats
in Parliament or when appoint-
ed to the Senate. ,

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The College of The Bahamas



BAIC

In Conjunction With

Will Host

Leading up to the generat
elections of May 2002, I co-
authored an article entitled The
case for Public Disclosure
reform, which was published in
the Tribune on April 16, 2002.
In that article (which was writ-
ten after the publication of dis-
closure statements), the opin-
ion was that the “disclosure
process as practiced in the
Bahamas (with regard to those
seeking political office) left
much to be desired, as many of
the declarants either did not
know how to - or did not have
the time - to get proper disclo-
sure statements prepared for
publication”.

The public disclosures formed
the basis of much public discus-
sion, and were the subject of
many radio ‘call-in’ shows
where certain disclosures were
publicly questioned, analysed
and, in some instances, even
ridiculed.

' Given the restrictions of the
law, I will make the following
general comments, which are
not related to past disclosures:

* If a person has a term life
insurance policy that pays $1
million upon the death of the
insured, this does not mean that
you have an asset with a net val-
ue today of $1 million.

* The use of ‘estimated val-
ues’ that are not subject to any
common criteria, conventions
or benchmarks can render the
meaning and applicability of
such estimates useless at best.

* At a minimum, one should
ensure that the numbers in the
various columns actually equal
the total shown for that catego-
ry (i.e. basic addition)

* Net worth is equal to total
assets minus total liabilities. It is
simply amazing how many times
this simple formula is misap-
plied.

Recommendations

In an effort to present a bal-
anced view on this topic, it is
important that we either com-
mit to improve the current sys-
tem or suspend it until we are
able to effect such improve-
ments. To this end, I wish to
reiterate the following recom-

_ SEE page 6B |

|0 Weeks of Business Empowerment

pticsenienassciussioenama

Superintendent
Bahamas Customs Department

Vennntategenneepagnnnnanaantnhis mnnbdantnnn shane nananmtentees



ls Thursday February |, 2007
“Empowenng Bahamians -
Global & Domestic Perspectives
COB = Lecture Theatre
Presenter » Mr. Glenn Ferguson

¢ Thursday February 8, 2007

BTV 1. + Old Trai Road
Prasenter « Mr. Daniel Thompson

« Thursday February 15, 2007
Business Mnanee and Venture Caprtal

COB - Lecture Theatre
Presenter» Mt Jerome Gomez



Lo

a Mr. Robert Maynard

| Busnress Planning, Forecasting of Marketing

Mr, William Brown

Chief Customs Officer
Bahamas Customs Department

Import, Export, Customs of
Concessions .

Thursday March 22, 2007
at 7:00 p.m.

The College Of The Bahamas

(Bahamas Tourism Training Center)
(Cecture Theatre)

« Thursday February 22, 2007
Book: Keeping + Accounting for the Business
COB + Lecture Theatre
Presenter « Mr. Christopher Stuart

¢ Thursday March 1, 2007
Business Opportunities in The Bahamas
COB - Lecture Theatre
Presenter» Mr. Benjamin Baikey

+ Thursday March 8, 2007
Forging a New Vien for the Bahaman Investor
COB + Lecture Theatre
Presenters-Messrs Donald Demeritte / Paul Major

» Thursday March 15, 2007
Doing Business veg the Invamet - Posabilinnes
Arfel COB - Lecture Theatre
Presenter » Mr. Dudrick Edwards

A AANA ENS

‘PURPOSE:

Change your buying habits, “BUY to SELL",
become self employed and create wealth.

ra

Schedule of Weekly Seminars ceases

+ Thursday March 22, 2007

Import of Expor, Customs, Concessions
COB + Lecture Theatre
Presenters»Messrs Robert Maynard / Witham Brown

» Thursday March 29, 2007
Beak Keeping Accounting for the Business

COB - Lecture Theatre
Presenter « Mc. Christopher Stuart

« Thursday April §, 2007
Government Regulations and Business License
COB - Lecture Theatre
Presenter - Registrar Representative

« Thursday April 12, 2007
Customer Service - Keeping Them for Life

COB + Lecture Theatre
Professor: College of The Bahamas

Se ANA RA ean APN

‘n sensitize Bahamians of
the business opportunities
available to them now, and |
to encourage them te
exploit such opportunities,
thereby empoweriag them
te become self employed.

February |-Apeil 12, 2007
(See Seiedule Below)
100 pm, Lecture/ Presentation

Interactive Panel Discussion
followed by Entrepreneur
Testimonials and Q&A session,

» The College of The Bahamas |
(Robsusar Fourie Trainisg Ceeter)
(lectere Theatre)



CONTACT: Bahamas Agricultural and Industrial Corporation (BAIC) at 322-3740 or 325-1912

Mr. Lester Stuart / Mr, Le-Var Miller


BUSINESS



Ane CARI RICE ha east Do eee

Che Miami Herald | | TUESDAY, MARCH 20, 2007

THE MARKETS

STOCKS, MUTUAL FUNDS, 8B

DOW 30 12,226.17 +115.76 AA’
S&P 500 1,402.06 +15.11 AA
NASDAQ 2,394.41 +21.75 AN
10-YR NOTE 457 +02 Ad
CRUDE OIL 56.59 -52 6

Stocks
surge on
merger
deals

BY TIM PARADIS
Associated Press

NEW YORK — Stocks
spiked higher Monday as Wall
Street joined overseas markets
in riding a wave of merger news
to bounce back from a losing
week. The Dow Jones industri-
als rose 115 points.

The buyout news, particu-
larly the possibility of an enor-

- mous deal that would unite
Dutch bank ABN Amro Holding
with British bank Barclays, pro-
pelled stocks higher as inves-
tors theorized that companies
remain upbeat about the econ-
omy if they’re willing to cut
new deals. Another deal
announced Monday was oil
field-services company Hercu-
les Offshore’s agreement to buy
drilling contractor Todco for
$2.3 billion in cash.

The advance kicked off an
important week for economic
data; the first reading, a report
from the Chicago Federal
Reserve, said regional manufac-
turing slowed in January. The
market was also waiting for
Tuesday’s start of the U.S. Fed-
eral Reserve’s two-day meeting
on interest rates. While few
expect the Fed will adjust short-

- term interest rates, investors
will be looking for any change
in the central bank’s posture
that could hint at where rates
are headed in the coming .
months.

Given the volatility that has
returned to the marketplace and
the upcoming statement from
the Fed, market watchers aren’t
ruling out more big swings in
stocks going forward.

“{ think the markets are very
sentiment driven. It does also
appear that when the global
markets see recovery in one
area they all seem to move up
and when they see concern in
another market they all seem to
move down,” said Subodh
Kumar, global investment strat-
egist at Subodh Kumar & Assoc.
in Toronto.

The Dow rose 115.76, or 0.96
percent, to 12,226.17, its biggest
one-day gain since March 6,
when the index climbed more
than 150 points.

Broader stock indicators also
rose sharply. The Standard &
Poor’s 500 index gained 15.11, or
1.09 percent, to 1,402.06, and the
Nasdaq composite index
advanced 21.75, or 0.92 percent,
to 2,394.41,

Bonds fell as stocks made
gains. The yield on the bench-
mark 10-year Treasury note
rose to 4.57 percent from 4.55
percent late Friday. The dollar
was mixed against other major
currencies.

The advance in USS. equities

.came as stocks overseas rose
sharply, even after China’s cen-
tral banks raised interest rates
to try to cool the economy.

Overseas, Japan’s Nikkei
stock average rose 1.59 percent,
Hong Kong’s Hang Seng index
advanced 1.65 percent, and the
sometimes volatile Shanghai
Composite Index rose 2.87 per-
cent. Britain’s FTSE 100 closed
up 0.96 percent, Germany’s
DAX index added 1.39 percent,
and France’s CAC-40 finished
up 143 percent.

Advancing issues outnum-
bered decliners by more than 3
to 1 on the New York Stock
Exchange, where consolidated
volume came to 2.67 billion
shares — down from 3.3] billion
shares on Friday, when contract
expirations elevated trading
volumes.

The Russell 2000 index of
smaller companies rose 8.28, or
1.06 percent, to 787.05.



AIRCRAFT INDUSTRY



B Airbus’ 555-seat,
double-decker A380, the
largest passenger plane ever
built, made its U.S. debut
Monday, with planes landing
within 18 minutes of each other
in New York and Los Angeles.

BY RICHARD PYLE
Associated Press
NEW YORK — The latest jet-
liner to claim the title of world’s
biggest passenger aircraft com-
pleted its maiden voyage from
Europe to the United States on
Monday, flying on football field-
length wings and a prayer that the
U.S. airline industry will want to
buy the double-decker jumbo jet.
The four-engine Airbus A380,
operated by German airline Luft-
hansa, touched down at John F.
Kennedy International Airport at ‘
about 12:10 p.m. to the cheers of Claude Lelaie at Los Angeles Inte
onlookers gathered to watch the
arrival. As the plane taxied, a pilot meant to be a statement by its
waved an American flag. Minutes _ builder, the European consortium
later, an Australian Qantas airline now called EADS Airbus, that it
A380, which had taken off from can accommodate vast numbers of
Toulouse, France, arrived in Los travelers comfortably and effi-
Angeles, with just a flight crew ciently.
and no passengers. “We're talking about an air-
The first U.S. flights offered a plane that is representing aviation
chance for Toulouse-based Airbus” in the 21st century in terms of effi-
to show off the jewel of its offer- ciency,” said Jens Bischoff, Luft-
‘ings to potential American buyers hansa’s vice president for the
and to the airports they hope to Americas.
turn into flight bases for the jet. It was one of the highest-profile
The 239-foot-long A380 can seatas maiden voyages since 1969, when
many as 550 passengers, hold the Concorde, the world’s first and
81,890 gallons of fuel, cruise at 560 _ still only commercial supersonic
mph and fly some 8,000 nautical transport, arrived at JFK from Lon-
miles. don. The European-made Con-
Lufthansa Flight 8940 was _ corde was retired from British and

WEST COAST WELCOME: Los Angeles



BRAZIL

Petrobras, partners to

(

buy Ipiranga for $4B

@ Petrobras, Brazil’s In a statement, the buyers called
state-controlled oil company, the deal ‘an important ‘step in the
and two partners agreed to pay reorganization and consolidation of a
about $4 billion for Brazil’s fundamental sector for Brazilian eco-

Ipiranga, eliminating the only nomic growth.” Investors sent Bras-
major oil company not alreadyin kem shares soaring after the deal was
government hands. announced, and Petrobras shares also

: rose.
BY ALAN CLENDENNING The three firms will divvy up Ipi-
Associated Press ranga’s operations, with Ultra taking

SAO PAULO, Brazil — Brazil’s over Ipiranga’s fuel and lubricants
state-run oil company Petrobras and business in Brazil’s populous south
two partners announced a deal Mon- and Petrobras absorbing the business
day to buy Ipiranga, the No. 2 fuel in northern, northeastern and central
distributor and refiner in Latin Amer- __ Brazil. ,
ica’s largest nation, for nearly $4 bil- Petrobras chief executive Sergio
lion in cash and stock. Gabrielli downplayed media specula-

Petroleo Brasileiro and chemical tion that the deal could face a tough
company Braskem will pay about $2.4 ride with Brazilian regulators con-
billion in cash, and fuel distributor cerned that the purchase could give
and refiner Grupo Ultra will issue the state company too much power
new shares for the rest, said Percio de __ over fuel distribution.

Souza, an adviser to the three pur- While Petrobras controls nearly 34
chasers. percent of Brazil’s distribution net-

Minority shareholders of Grupo work now, the number will rise to 38
Ipiranga will have the option of tak- percent under terms of the deal,
ing the shares or cash. When the Gabrielli said.
complex transaction is completed, Braskem and Petrobras will divide
the value of the deal will be “close to Ipiranga’s petrochemical assets, split-
$4 billion,” the buyers said. De Souza _ ting them 60 percent to 40 percent in
did not disclose the amount of debt Braskem’s favor.
that Ipiranga holds. Ipiranga’s oil refining assets will

a aS

ay



AMERICAN DEBUT: The Airbus A380 makes its first approach to Los Angeles International Airport,
Monday, touching down minutes after a sister aircraft landed in New York.

Airbus superjumbo jet
arrives in United States



AL SEIB/AP



MARK AVERY/AFP-GETTY IMAGES
Mayor Antonio Villaraigosa,

rnational Airport.

|
|
left, sits inside the main cabin next to the Airbus A380’s pilot © |
|
{
|

French service in 2005.

EADS Airbus hopes the A380 —
designed to carry more people far-
ther than any plane in history, |
though at subsonic speeds — will |
dominate air travel for the next |
two decades.

Anthony Coscia, chairman of |
the Port Authority of New York
and New Jersey, said Monday’s |
flight marked the beginning of a
new era in meeting the New York |
City area’s transportation needs.

Waiting in the wings, however, |
is Boeing, whose 747 jumbo jet has |
been the world’s principal long- |
haul aircraft for the past 30 years |
and now has competitors to the
A380 in early production. |



3B

INTERNATIONAL EDITION



HURRICANE KATRINA

State Farm
agrees to
re-examine |
claims in
Mississippi

& State Farm will re-examine more
than 35,000 policyholder claims
filed after Hurricane Katrina and
‘make millions of dollars available’
for additional payments, Mississippi
Insurance Commissioner George
Dale said Monday.

BY EMILY WAGSTER PETTUS
Associated Press

JACKSON, Miss. — Mississippi
Insurance Commissioner George Dale
said Monday that he had convinced
State Farm Fire & Casualty Co. to agree
to an “accelerated process to reopen
and readjust all Hurricane Katrina
claims upon request in the Mississippi
coastal counties.’ The decision follows
his agency’s examination of State
Farm’s handling of Katrina claims and
the recent withdrawal of a proposed
class action settlement involving the
insurer. -

Dale said the agreement between his
office and State Farm covers homeown-
ers, renters and commercial claims in
Mississippi’s three coastal counties.
The agreement with the Bloomington,
Ill.-based insurer includes claims that
are in mediation, those that are the sub-
ject of pending lawsuits and those that
already have been settled.

“If they feel like that they were mis-
treated and not handled properly, they
too can have their case reopened and
looked at by additional adjusters,” Dale
said of people who already have settled.

“We anticipate that this will be a
quicker process for the folks on the
coast so that they can get money, addi-
tional moneys in their pocket for the
purpose of rebuilding,” Dale said during
a news conference at his office in Jack-
son.

On March 12, a team of lawyers who
helped negotiate the proposed settle-
ment withdrew their request for U.S.
District Judge L.T. Senter Jr., to approve
the deal. The team — led by led by
attorney Richard “Dickie” Scruggs —
cited a legal “stalemate” and Senter’s
apparent reluctance to sign off on the
settlement. :

Senter had been asked to approve a
settlement calling for State Farm to pay
at least $50 million to policyholders
who haven’t sued the company. That
deal, reached in January, called for State
Farm to reopen, review and possibly
pay 35,000 to 36,000 claims.

“When I learned that the proposed
class action settlement had stalled, I felt
it presented an opportunity to negotiate
with State Farm to bring closure for
coastal policyholders,” Dale said Mon-
day.’



be split equally between Petrobras,
Ultra and Braskem, which is con-
trolled by Petrobras and by Con-
structora Norberto Odebrecht, Bra-
zil’s largest construction company.

Ipiranga is controlled by five fami-
lies who will be bought out in a first
stage of the transaction, the state-
ment said. An offer will then be made
for Ipiranga shares owned by minor-
ity stakeholders.

Ipiranga has 4,240 gas stations
around Brazil — second only to

MAURICIO LIMA/AFP-GETTY IMAGES

ACQUIRED: Brazil’s state-run oil company Petrobras and two partners,
Braskem and Grupo Ultra, agreed Monday to buy Ipiranga.

Petrobras — and produces 650,000
tons of petrochemical resins annu-
ally.

The company had 2006 revenue of
$14.3 billion and earnings of $254.3
million.

Braskem’s American depository
shares jumped 16.1 percent on the
New York Stock Exchange after the
deal was announced, or $2.08, to
$14.96. Petrobras’ American deposi-
tory shares rose 1.9 percent, or $1.60,
to $87.78.

aa
THE MIAMI HERALD | MiamiHerald.com

BUSINESS BRIEFS

e BANKING INDUSTRY

a

—

4 Ned
>



RICK NEDERSTIGT/AFP-GETTY IMAGES

IN TALKS: British bank Barclays has approached Dutch
investment bank ABN Amro with a merger proposal.

ABN Amro, Barclays
in acquisition talks

From Herald Wire Services

ABN Amro (ABN), the Netherlands’ largest bank, and
rival Barclays (BCS) of Britain are in early-stage talks about
a “potential combination,” the banks said.

The disclosures came amid reports that Barclays was eye-
ing a possible purchase of its smaller rival. At Monday’s clos-
ing stock prices, ABN Amro was worth about $76 billion
while Barclays was valued at about $86 billion.

If a deal were struck, it would be one of the biggest cross-
border combinations in European banking history.

e PHARMACEUTICAL

ASTRAZENECA SHARES
SLIP AFTER DRUG NEWS

Shares of pharmaceutical
company AstraZeneca,
which has been trying to
shore up its drug pipeline,
slipped Monday after the
company said a heart dis-
ease treatment was proven
to be ineffective in trials.

AstraZeneca has been
developing the treatment in
combination with Alphar-
etta, Georgia-based Athero-
‘Genics (AGIX), which saw

its shares plummet nearly

60 percent in pre-market

trading in the United States. (1

The aim of the study was
to compare the effect of
AtheroGenics’ AGI-1067
drug to a placebo. The
ARISE phase III trial studied
AGI-1067 in patients with
coronary artery disease.

“The ARISE trial did not
meet its primary endpoint of
a statistically significant rel-
ative risk reduction,” Astra-
Zeneca, Europe’s second-
largest drug maker, said in a
statement.

e TERRORISM

CHIQUITA PLEADS
GUILTY IN PROBE

Banana company Chi-
quita Brands Interna-
tional (CQB) admitted in
federal court that for years it
paid Colombian terrorists to
protect its most profitable
banana-growing operation.

The company pleaded
guilty to one count of doing
business with a terrorist
organization. The plea is
part of a deal with prosecu-
tors that calls for a $25 mil-
lion fine and does not iden-
tify the several senior
executives who approved
the illegal protection pay-
ments. ;

Chiquita has said it was
forced to make the pay-
ments and was acting only
to ensure its workers’ safety.

e PFIZER

LIPITOR TO FACE
MORE PRESSURE

Pfizer’s (PFE) Lipitor,
which has been steadily los-
ing market share, faces more
pressure as health plans
unleash a new wave of pro-
grams promoting the use of
generic cholesterol drugs.

Lipitor’s market slide was
triggered last June when
Merck & Co. (MRK) lost
patent protection on its own
cholesterol-reducing Zocor,
known generically as sim-
vastatin. On Monday, Well-
Point (WLP), the nation’s
largest health insurer,
announced it will offer its
members four months of the
generic drug free. Two
other plans recently
launched moves to promote
generic cholesterol drugs,
joining those initiated since
Zocor’s patent expiration.

e CANADA

NORTEL EXPECTS FLAT
OR LOWER REVENUE

Canadian networking
equipment maker Nortel
Networks (NT.TO) said it
expects flat or slightly lower
revenue this year, a week
after the U.S. Securities and
Exchange Commission filed
civil charges alleging
accounting fraud against
four former Nortel employ-
ees

Nortel — North Ameri-
ca’s biggest maker of tele-

‘phore equipment — -

reported late Friday its

sffnancial results for 2006

and a fourth restatement of
earnings since 2003.

Peter W. Currie, execu-
tive vice president and chief
financial officer, told ana-
lysts Monday that the latest
restatement of results — the
latest in a series arising from
Nortel's troubled account-
ing history, which led to the
firing and USS. civil fraud
charges against a former

CEO and CFO, and ongoing .

regulatory and police probes
of the company — resulted
in total reductions of $65
million in revenue and $69
million in earnings.

e INDIA

MEDIA BUSINESS TO
MORE THAN DOUBLE

India’s media and enter-
tainment business will more
than double over the next

five years to reach $22.5 bil- |

lion, in sales by 2011, fueled
by rising incomes anda
surge in consumerism, a
global consulting firm said.

Sales in India’s media and
entertainment industry
totaled about $10.4 billion in
2006, up 20 percent froma
year ago, said the study,
which was commissioned by
the Federation of the Indian
Chambers of Commerce and
Industry.

e@ CHINA

CABINET OK’S PLAN TO
BUILD LARGE AIRCRAFT

China’s top leaders have
approved a program to build
large commercial aircraft,
lending crucial government
support to plans to chal-
lenge the domination of
Boeing (BA) and Airbus in
the country’s fast-growing
aviation market.

A Cabinet meeting held
last month approved “in
principle” setting up a for-
mal program for domestic to
build large commercial air-
craft, according to a state-
ment on the website of the
State Council Information
Office.

No time frame was given,
but last week a top official of
state-owned China Avia-
tion Industry I, or AVIC I,
said that the company .
planned to start making
large aircraft by 2020.



TAKEOVER OFFER

____!NTERNATIONAL EDITION

TUESDAY, MARCH 20, 2007 | 4B.

Community Health Systems
trumps bid for Triad Hospitals

BY DAVID KOENIG
Associated Press

DALLAS — Community
Health Systems said Monday
it has agreed to buy Triad
Hospitals for about $5.1 billion,
topping a previous bid by pri-
vate-equity buyers.

CHS said the deal would
make it the nation’s largest
publicly traded hospital com-
pany. It would own or operate
about 130 hospitals in 28 states
and control more than 18,700
beds.

Franklin, Tenn.-based CHS
agreed to pay $54 for each
Triad share, a 7.5 percent pre-
mium over an earlier deal that
Triad had accepted from the
private buyout group, CHS
and Triad said. CHS would
also assume $1.7 billion in
Triad debt in the deal.

Triad has 53 hospitals and
another under construction.
They are mostly in smaller cit-
ies. The company also pro-
vides hospital management

MERGER

and consulting services.

Triad, based in Plano,
Texas, had previously agreed
to be taken private for $50.25
per share, or $4.7 billion, by a
buyout group that included an
affiliate of Goldman Sachs and
a JPMorgan Chase & Co. spin-
off. It said it will cancel that
deal as a result of the new
offer.

Shares of Triad rose $2.60,
or 5.3 percent, to $51.96 in
afternoon trading on the New
York Stock Exchange after hit-
ting a 52-week high of $52.20.
Community Health shares fell
$1.13, or 3.1 percent, to $35.67.

The Triad transaction
comes after hospital giant
HCA was sold to private own-
ers for $21.3 billion.

Hospitals are struggling
with flat volumes and more
unpaid bills from uninsured
patients.

Triad signaled last fall that
a sale was likely. The stock has
slumped since mid-2005, and

its largest shareholder, hedge
fund TPG-Axon Capital Man-
agement, has accused Triad of
“remarkably poor financial
analysis” and failing to say
how it would fix the company.

Triad said it paid a breakup
fee to cancel its earlier deal
with GS Capital Partners and
CCMP Capital Advisors but
didn’t disclose the amount. If
Triad was negotiating with
Community by Friday, the fee
could be up to $40 million;
otherwise; it could be $120
million, according to a Triad
regulatory filing.

Community Health is
smaller than Triad by many
measures, including beds and
annual revenue — $4.37 billion
at Community in 2006, versus
$5.54 billion for Triad. Both
favor small towns where there
is less competition.

Triad’s board recom-
mended that shareholders take
the CHS offer. Two inside
directors abstained. If

approved by Triad sharehold-
ers and regulators, the deal is
expected to close in the third
quarter. There is no financing
condition to the sale. CHS said
it has lined up financing com-
mitments from Credit Suisse
and Wachovia Capital Mar-
kets.

Wayne T. Smith, chairman,
president and chief executive
of CHS, said the acquisition
would increase his company’s
size and geographic diversity.

“This acquisition comple-
ments our rural strategy by
adding mid-size markets in
great locations,” Smith said.

Community Health said it
was withdrawing previous
comments about its financial
performance for 2007. Last
month, the company said it
expected to earn $2.30 to $2.38
per share on revenue of about
$5 billion in 2007. Company
officials said they planned to
acquire three or four hospitals
this year.

ServiceMaster to be bought for $4.5B

BY ASHLEY M. HEHER
Associated Press

CHICAGO — Lawn care
and pest control provider Ser-
viceMaster. agreed Monday to
be bought by an investment
group in a cash deal valued at
$4.5 billion, as the company
tries to recover from years of
declining financial results.

Bowing to. shareholder
pressure, the owner of Tru-
Green Lawn Care, Terminix
pest control and Merry Maids
cleaning service announced a
deal with an investment group
led by private equity firm
Clayton, Dubilier & Rice.

The announcement came
nearly five months after the
Downers Grove, IIl.-based
company said it was exploring
strategic alternatives.

The move followed pres-
sure from shareholders Ariel
Capital Management and
Newcastle Capital Manage-
ment to consider a sale or buy-
out.

Under terms of the agree-
ment, ServiceMaster stock-
holders will receive $15.625 in
cash for each outstanding
share, which is a 16 percent
premium over ServiceMaster’s
closing price Friday of $13.47
on the New York Stock
Exchange.

Clayton also will assume
about $1.02 billion in debt.

The deal represents a pre-
mium of roughly 31 pereent
above ServiceMaster’s closing
stock price of $11.90 on Nov.
27, the last trading day before
the company said it would
explore strategic alternatives.

ServiceMaster’s board has
approved the acquisition. Its
stockholders will vote on the
transaction at a special meet-
ing expected to be held in the
second or third quarter.

Once the deal is complete,
Clayton operating partner
George W. Tamke will
become ServiceMaster’s chair-
man, replacing Patrick Spain-

JURY SELECTION

hour, who will stay on as Ser-
viceMaster’s chief executive.

Clayton CEO Donald Gogel
said his firm had been eyeing
ServiceMaster for years.

“We believe the company
will be better positioned as a
nonpublic enterprise to pur-
sue management’s long-term
growth plans and to further
enhance its attractive collec-
tion of market-leading service
businesses,” he said in a state-
ment.

The Downers Grove-based
company, tinged with Chris-
tian tradition, lists as its top
corporate objective to “honor
God in all that we do.”

“Their plan is to work with
the ServiceMaster team to
accelerate growth in each
business unit while maintain-
ing a strong emphasis on the
values that have been the core
of the company,” said Spain-
hour.

Since 2004, ServiceMaster’s
net income has fallen nearly
49 percent to $169.7 million in
2006, even as its revenue
climbed nearly 12 percent.
During the quarter ending
Dec. 31, the company earned
$38.9 million, a 44 percent
increase from the same period
in 2005.

The company is closing its
Downers Grove headquarters
and relocating its-operations
to Memphis, Tenn., where
many of its subsidiaries are
based. The move is expected
to be complete by November.

In 2006, ServiceMaster had
32,000 employees and a net-
work of 5,500 company-owned
and franchise locations.

“To us, ServiceMaster is
the perfect private equity
holding,” Sam Darkatsh, an

‘analyst with Raymond James

& Associates, wrote in a
research note Monday. “Huge,
low-risk cash flows, the ability
to roll up a fragmented indus-
try and/or sell existing busi-
ness lines, no Asian import or





SERVICEMASTER/AP

PRESSURE: ServiceMaster, which owns TruGreen Lawn

Care, Terminix pest control and Merry Maids cleaning
service, bowed to shareholder pressure Monday and

agreed to be bought by an investment group lead by
private equity firm Clayton, Dubilier & Rice.

technological obsolescence
risk, terrific brand names, and
large (read: deep-pocketed)
strategic players who could
ultimately present an end

game (or IPO, of course).”
ServiceMaster shares
climbed $1.68, or 12 percent, to
close at $15.15 Monday on the
New York Stock Exchange.

Ex-Qwest CEO’s trial under way

BY SANDY SHORE
Associated Press

DENVER — The insider
trading trial of former Qwest
Communications Chief Execu-
tive Joe Nacchio got under
way Monday as the judge
began questioning potential
jurors about how they got
their news.

Nacchio, 57, is accused of
improperly selling about $101
million worth of stock based
on internal, nonpublic infor-
mation that the telephone
company was at financial risk.
Qwest soon after became
mired in an accounting scan-
dal and was forced to restate
$2.2 billion in revenue.

Nacchio, who resigned
under pressure in 2002, is
charged with 42 counts of
insider trading for stock sales
that occurred in the first five
months of 2001, with transac-
tions ranging in worth from
$191,000 to $13.6 million each.
Each count carries a penalty of

Four potential jurors were dismissed by late
morning, one for unspecified personal reasons
and the others during questioning about their

media habits.

up to 10 years in prison and a
$1 million fine.

Nacchio’s defense is built
around the argument that Nac-
chio expected Qwest Commu-
nications International to win
lucrative contracts from clan-
destine government agencies
— contracts Nacchio has said
gave him hope for the future
of Denver-based Qwest,
whose territory crosses 14
states mostly in the West and
Midwest.

Nacchio, smiling and
dressed in a gray suit and blue
shirt, arrived at the federal
courthouse about 30 minutes
before the trial was scheduled
to begin.

During the proceeding, he

sat at a table, flanked by his
attorneys, former federal
judge Herbert Stern of New
Jersey and John Richiliano of
Denver.

An unspecified number of
prospective jurors was called
at the start of the process to
select 12 jurors and six alter-
nates. The trial is expected to
last as long as eight weeks.

Four potential jurors were
dismissed by late morning,
one for unspecified personal
reasons and the others during
questioning about their media
habits.

Prosecutors likely will be
looking for individuals who
believe that everyone, from
minimum wage workers to

high-level executives, should
play by the same basic rules
with no breaks or advantages,
says Robert Hirschhorn, a
Lewisville, Texas, jury consul-
tant. “It’s not demographics
that define. decisions jurors
make,” he said recently. “It’s
their value system and their
life experience that is the sin-
gle biggest factor in determin-
ing what verdict they’re going
to return.”

Nacchio’s attorneys will
seek jurors who understand
the complexities of the finan-
cial world and may be more
willing to accept the defense’s
explanation of the stock sales,
California jury consultant
Howard Varinsky said.

U.S. District Judge Edward
Nottingham already has made
certain that none of the jurors
will be current or former
employees of Qwest or people
who have close friends or rela-
tives associated with the com-

pany.
THE TRIBUNE

TUESDAY, MARCH 20, 2007, PAGE 5B



i ee SS eee
Resort
ALWO LI KeLE

TOKO
Land acres

FROM page 1B

tabled did not include some
of the more controversial
Crown Land grants, such as
the 105 acres supposed to be
leased to Discovery Land
Company for the controver-
sial $175 million Baker’s Bay
Golf & Ocean Club on
Great Guana Cay, which
continues to face opposition
- including court action -
from the Save Guana Cay
Reef Association.

Also omitted is the 9,999
acres that are supposed to
be the location for the $1.8
billion Mayaguana project,
a 50/50 venture between the
Boston-based |-Group and
the Government through the
Hotel Corporation of the
Bahamas. The land repre-
sents the Government equi-
ty in the joint venture vehi-
cle, the Mayaguana Devel-
opment Company.

The Government appears
to have adopted the view
that it will grant Crown
Land to developers in situa-
tions where it believes pro-
jects are in the best interests
of the Bahamas and its peo-
ple, boosting economic activ-
ity and creating jobs. Most
Crown Land grants to devel-
opers appear to have taken
place under the current PLP
administration.

Other developers to pur-
chase Crown Land include
RAV Bahamas, the compa-
ny formed by Cuban-Amer-
ican real estate developer
Gerardo Capo for his Bimi-
ni Bay development. Mr
Capo purchased 42.56 acres
on Bimini for $425,600 on
March 1, 2005, with the
grant drawn just over a
month later.

The Emerald Bay Resort
on Exuina also paid $28,100
for 2.811 acres of Crown
Land in the Farmers Hill
area on April 7, 2006. ~

On New Providence,
Kerzner International
acquired 23,186 square feet
on the south shore of Par-
adise Island for $215,000, a
sum paid to the Government
on March 17, 2006







































































Baha Mar ‘not out of
line’ on incentive talks

Harrah’s ‘watching carefully’ $2.4bn
Cable Beach developments

@ By NEIL HARTNELL
Tribune Business Editor

arrah’s Entertain-
ment is “watching
carefully” how nego-

tiations between the Govern-
ment and Baha Nar over the
latter’s $2.4 billion Cable Beach
redevelopment progress,
sources familiar with the situa-
tion told The Tribune yester-
day, with the developers “not
asking for anything out of line”
when it came to investment
incentives.

Contacts close to develop-
ments surrounding the stalled
supplemental Heads of Agree-
ment talks between the Gov-
ernment and Baha Mar said the
developers were seeking invest-
ment incentives based on “an
applicable formula pretty much
agreed with the Government”.

In its weekend press release
explaining why it had not con-
cluded a supplemental Heads
of Agreement with Baha Mar
by March 1, exposing the devel-

oper to the risk that Harrah’s,
its 43 per cent joint venture
equity partner, could exercise
its rights to ‘walk away’ from
the project because the March
15 deadline for their agreement
was not met, the Government
essentially portrayed the devel-
oper as being greedy.

It said Baha Mar was seek-
ing “vastly increased” incentives
in addition to the “already gen-
erous concessions granted”
when it signed the initial 2005
Heads of Agreement with the
Government.

However, sources familiar
with the situation told The Tri-
bune that the statement did not
present the full picture regard-
ing the investment incentives,
as the 2005 agreement was
based on Baha Mar investing
$1 billion in Cable Beach’s
transformation.

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Pepsi Cola Bahamas, an affiliate of Pepsi Americas, Inc., is searching for a
qualified individual to manage its manufacturing operations. This includes
Production, Quality Control, Maintenance, Warehouse, Fleet, and Logistics. (5
direct reports, 30+ indirect reports).

Qualified candidates must posses the following:

Education:

° Minimum Bachelor’s degree in business, operations or related field

Experience:

° Prior leadership, supervisor and coaching experience required. Operations
and distribution experience preferred

Personal:

Results oriented
Strong leadership

Team builder / Team player
Ability to coach and develop people
Excellent interpersonal skills

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P. O. Box N-3004
Prince Charles Drive
Nassau, Bahamas
Fax: 364-2123

*

e-mail: rhonda.rolle@pepsibahamas.com



Major firm in the financial and
legal services industry








Invites applicants for its Abaco office for the function of:

Legal Secretary

¢ Minimum 4 years experience

¢ Knowledge of and ability to prepare legal documentation
° Working knowledge of Microsoft Office

° Good organizational skills

¢ Ability to work independently

° Salary commensurate with experience

¢ Attractive benefits

That investment, according
to the developers, has risen to a
projected $2.4 billion, and Baha
Mar is seeking only an increase
in incentives that is proportion-
ate to the increase in invest-
ment.

Sources said this was “consis-
tent with the formula applied
to other projects”, and Baha
Mar’s single-phase $2.4 billion
commitment was larger than

Reply in confidence to:
Fax (242) 394-8430
SEE page 8B Or email: glosbastian@hotmail.com

MTA SC antl:

This ideal candidate will report to the General Manager. Provides accurate project cost
forecast by assessing actual cost incurred and physical progress achieved for all phases
of a project (Engineering, Procurement, Fabrication, Construction, and Commissioning).






















Duties and Responsibilities:

¢ Provide efficiency control by comparing actual and planned man-hours

¢ Set-up and maintain jobs (i.e. structure and budget in ERP system)

¢ Support Project Managers by collecting all relevant progress and cost data from
Engineering, Procurement, Fabrication, Construction, and Accounting

¢ Consolidate data in Project Cost Report for Project Manager’s review and approval

¢ Prepare project cash flow

¢ Support Project Manager in change order manager

¢ Support Project Manager in contingency management
















Qualifications: .
Bachelors Degree in Accounting or similar field or equivalent combination of education
and experience. Minimum Five (5) years experience in cost accounting and/or project
accounting, budgeting/forecasting. Or, alternatively ten.(10) years experience in project
management. At least Five (5) years of SAGE/Timberline experience is a must.
Intermediate level skills with Microsoft Office Software, accounting, cost control
procedures, analytical and problemsolving skills, effective communication skills both
verbally and in writing, and the ability to plan and manage multiple tasks/projects.
Physical Demands and Work Environment to be reviewed.

jobs@marmatglobal.com
242-363-1279

Please respond by email to:
Fax:



MARMAT
Attn: Office Manager
P.O. Box CR-56766

Nassau, Bahamas

Mail:

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PAGE 6B, TUESDAY, MARCH 20, 2007

THE TRIBUNE



Mn 8 fe) eee
Fouling at 50 per cent of Blue Hills plant’s units

Legal Notice

Notice

CHEPSTOW LIMITED
(In Voluntary Liquidation)

Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned at Ocean Centre, Montagu Foreshore, East Bay Street,
PO. Box N-3247, Nassau, Bahamas as sole Liquidator on or
before the 30th day of March, 2007. In default thercof they will be
excluded from the benefit of any distribution made by the

Liquidator.

Dated the 16th day of March 2007,

Lynden Maycock
Liquidator

Legal Notice
NOTICE
CHEPSTOW LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) CHEPSTOW LIMITED is in dissolution under
the provisions of the International Business Companies
Act 2000.

The dissolution of the said company commenced

on the 16th March, 2007 when the Articles of
Dissolution were submitted to and registered by the
Registrar General

The Liquidator of the said Company is Mr. Lynden
}

Maycock of Ocean Centre. Montagu boreshore

East Bay Street, Nassau, Bahamas, as sole Liquidator.

Dated this 16th day of March 2007.

H & J Corporate Services Ltd.
Registered Agent
for the above-named Company



Assistant Manager

Position Available Immediately
At
Domino’s Pizza

Oualtications:

¢ You should have a High School Diploma

° Past managerial experience», :

° Certificate in Management is a plus

¢ Must be available for day and night shifts,
including weekends

¢ You should demonstrate strong communication,
leadership, motivational and people management
skills

¢ You should have a valid driver’s license

° You must have a GREAT attitude towards
customer service!

Basic responsibility to include:
¢ Maintain product, service and image standard
¢ To assist in supervision of all phases of
production.
* To maintain a high level of efficiency &
productivity in all areas of store operation

Please send résumé on or before ;
October 2, 2006
Attention: Human Resource Department

P.O. Box SS-6704

Nassau, Bahamas

Or Fax 356-7855









Pricing Information As Of:

S2wk-Hi S2wk-Low
Abaco Markets
Bahamas Property Fund
Bank of Baharnas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bant«
Consolidated VvYater BDRs
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson
Premier Real Estate.

y

Bahamas Supermarkets
Caribbean Crossings (Pref) 8.00
RND Holdings | 0.45

ee Colina Qver-T

B 41.00
Bahamas Supermarkets 14.60
10.60 RND Holdings 0.45








Fund Name NA V
T3312 1.1273 nay Markel Fund 1 434194
3.09868 2.6662 ‘
2.6254 2.3342 Sf )
1.2338 1.1592 Colina Bona é Fund 1.233813°°""
11. sos 10.0000 _Fideli 11.3945*"***

Prime Income Fund





ISX ALL



FROM page 1B

dence’s water distribution sys-
tem by 438 million gallons per
year, it has to supply 1.2 mil-
lion free gallons per day to the
Water & Sewerage Corporation
(WSC).

Some $1.7 million in sales
made by the Blue Hills plant to
the Water & Sewerage Corpo-
ration during the three months
to December 31, 2006, were
“made at essentially a break
even gross margin”.

Until it can prove that it has
achieved this reduction, Con-
solidated Water is required to
provide 1.2 million US gallons
of water per day to the WSC
from the Blue Hills plant at no
cost to the WSC, increasing
plant operating costs.

Mr MacTaggart denied that
the issues associated with Blue
Hills would give rival bidders
on the Winton contract, plus
the reverse osmosis plant
planned for Perpall Tract,
“ammunition” to use against his

company.

“What’s happening at Blue
Hills is not impacting our ser-
vice to our customer,” he said.
“They really don’t have any
ammunition they can use.
We’re really providing world-
class service and not falling
short of our contract obliga-
tions.”

Operating

‘Mr MacTaggart said Consol-
idated Water had seven to eight
years of experience operating
in the Bahamas, and could
leverage this to its advantage in
bidding on new projects.

Whereas competitors, seeing
the issues in the Bahamas,
might have “pause for thought”
and realise they had better
understand fully the operating
environment before making a
bid.

On the NRW aspect of Con-
solidated Water’s contract, Mr
MacTaggart declined to disclose
any figures on how close the





he-Counter Securities
43.00
15.50



“BISX Listed Mutiial Funds”
Des

NOTICE

NOTICE is hereby given that JAMES JULMIS OF
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 13th day of
March, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

om crtotee,

“OFFICE SPACE FOR LEASE

a5

ames

ue ss of office space
Retr. for lease.

eee eee

8

Adequate parking and 3
infrastructure in place. 3

o
a!
o
7

Please call 326-5205|

”
=



"a
Ce eee ee eee ee ee!

FOR SALE

TWO (2) PIPER AZTECS - 5 Seater Aircrafts

Owner asking $220,000 (ONO) for both Aircrafts as is.
The Aircrafts can be viewed at
Executive Flight Support, Nassau Bahamas

For further information or inspection call (242) 377-1256.



0. 998
0.118
0.295
0.552
0.779
0.921
1.644
-0.434
0.532
0.588
1.269



41.00 2.220 0.000 19.4 0.00%

14.00 1.770 1.320 8.3 9.04%

0.45 a -0.070 0.000 N/M 0.00%
Last 12 Months Div $ Yield %

-) PINDEX: CLOSE 791.62 /YTD 06.67% / 2006 34.47%



MARKET TERMS YIELD - last 12 month dividends divided by closing price NAV KEY
S2wk-HI - Highest closing price in last 52 we Bid S$ - Buying price of Colina and Fidelity
52wk-Low - Lowest closing price in tast 92 ~ I t f nd ficelit *-9 March 2007
Previous Close - Previous day's weig! '
Today's Close - Current day's weighted price fur lrading volume of the prior w * - 8 February 2007

Change - Change in closing price from day to day

Datty 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 earnings



OTRABE CALL: CO

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

*- 34 January 2007
* - 28 February 2007

wry 2007



company was to meeting its
contract target, saying it was all
based on “quantity balances
agreed with the Government”.

He acknowledged, though,
that the NRW component of
the Blue Hills contract was not
normally included in such pro-
jects.

“T’s say it’s fairly unusual for
this sort of business,” Mr Mac-
Taggart said. “We did it to be
competitive with some other
people offering similar services
to the project.

“The Government is very
keyed in on their losses, and we
saw it as a value-added service
to get the Blue Hills project.”

Consolidated Water expects
to meet the NRW requirement
and prove this to the WSC in
the 2007 third quarter.

Mr MacTaggart said Consol-
idated Water “knew it was
going to be a pretty big project”
in terms of reducing water loss-
es from the WSC’s New Provi-
dence system, but added that
when the NRW component was

finished, it might give the com-
pany a competitive advantage
on other contracts by giving
them knowledge of where the
“bottlenecks are in the system”.

Hoped

Mr MacTaggart said Consol-
idated Water hoped it would
have the chance to provide fur-
ther consulting services to the
Government on reducing its
NRW losses.

He added that the company
was not fixing the leaks it found,
but was instead identifying
them, paying for and installing
monitors and valves, and advis-
ing and changing the WSC
operated the system.

Among Consolidated Water’s
major competitors for the future
contracts in the Bahamas, Mr
MacTaggart said, were GE and
Veolia. The latter had teamed
up with BK Water, the Bahami-
an investor group, and Sable
Bahamas to bid on the Perpall
Tract plant.

Election candidates, trom 28

mendations:

1. That the Public Disclosure
Commission (PDC) publishes
guidance notes to assist in the
completion of the required dis-
closure statement. I searched
the Internet only to discover
that the PDC does not have a
website. In fact, the official gov-
ernment website is still show-
ing the‘members of the PDC
whose term of office ended on
June 30, 2002.

2. That there be a require-
ment to have the disclosure
statement signed-off by a mem-
ber of the Bahamas Institute of
Chartered Accountants (BICA)
or other suitably qualified pro-
fessional, attesting to the rea-
sonableness of valuations for
securities and real estate.

Conclusion

Hopefully, by writing this
article prior to the compilation
and publication of disclosure
statements, I might contribute
to the improvement of the
process. I am encouraging the
major political parties to coor-
dinate the filing of the disclo-
sure statements by their candi-
dates, in an effirt to ensure they
reflect well of the declarant by
being properly completed and
devoid of basic, fundamental
errors. These not only reflect
negatively on the.candidate but
also upon the party they repre-
sent.

The country should be spared
from the prospect and embar-
rassment of simply ‘silly’ filings.
If the public cannot have confi-
dence .in filed statements, why
should they have confidence in
the declarant? I can remember
being very embarrassed by the
poor reflection cast upon the
quality of our political candi-
dates, based simply on the
absurdity of some of the filings.
The publication of disclosure
statements should not mark the
official opening of ‘comedy séa-
son’. .

I challenge all candidates to
ensure that whatever they file is
at least completed, and proper-
ly checked for basic errors.

Until next week...

NB: Larry R. Gibson, a Char-
tered Financial Analyst, is vice-
president - pensions, Colonial
Pensions Services (Bahamas),
a wholly-owned subsidiary of
Colonial Group International,
which owns Atlantic Medical
Insurance and is a major share-
holder of Security & General
Insurance Company in the
Bahamas.

The views expressed are
those of the author and do not
necesserily represent those of
Colonial Group International
or any of its subsidiary and/or
affiliated companies. Please’
direct any questions or com-
ments to rlgibson@atlantic-
house.com.bs

LEGAL NOTICE
NOTICE

IN THE ESTATE OF AVERY HAMILTON BETHEL late of White
Sound Subdivision on the Island of Elbow Cay aka Little Guana
Cay one of the Cays of the Abaco Range of eae in the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that all persons having any claim or
demand against the above Estate are required to send their
names, addresses and particulars of the same certified in writing
to the undersigned on or before the 20th day of April, A.D., 2007
and if required, to prove such debts or claims, or default be
excluded from any distribution; after the above date the assets
will be distributed having regard only to the proved debts or
claims of which the Executor shall have had notice.
And Notice is hereby given that all persons indebted to the said
Estate are requested to make full settlement on or before the
3rd day of April, A.D., 2007.

SYDBRI LEGAL SERVICES
Attorneys for the Executrix
iNaomi House
No.9, gt Terrace & West Court
Off Collins Avenue
P.O. Box EE-15075
Nassau, Bahamas

AUTO

SERVICE VACANCY

Freeport automobile dealership is looking for
an energetic person to fill the position of

SERVICE WRITER/

ADVISOR



in our Service Department. Prospective
applicants should possess similar work
experience with some training in customer
management relations. Intermediate
computer skills are a must.

Please apply in writing to:
Service Advisor
P.O. Box F-41060
Freeport, Grand Bahama

SSSR SRN as 2



Re SURES ime eS Cer ews. Ute UNE
THE TRIBUNE BUSINESS

COMICS PAGE

TUESDAY, MARCH 20, 2007, PAGE 7B





JUDGE PARKER

WE'RE IN NO HURRY TO FILE!
BESIDES, SOMEONE WANTS
TO TALK TO




Tribune Comics

RANDY,
IT'S NOT
HORACE!










MEEK AND MILD-MANNERED
CAININ DUCKS INTO A P
NEARBY CLOSET AND

TRANSFORMS HIMSELF INTO...

AIN NAPALM

OF THE AMERICAN WAY!
ENDOWED WITH SUPERHUMAN ¢







YOU FIRST!





IT'S THE
MAN YOU'RE GOING

Be ) a
i f Bam, I DON'T WANT TO SEE
TO REPLACE!

HORACE RILEY RIGHT NOW!



APARTMENT 3-G

TOMMIE, 1 NEED YOUR HELP) WHAT DO
BUYING A GIFT FOR ERIC,7 YOU HAVE| Ca COul AE LAME
tin XIN MIND ? ;












SOMETHING THAT SAYS:
YOUR SMOLDERING EYES

















BIG SMILE, DAD! I WANT TO TAKE | [ THANKS, IT ISN'T EASY BEING A SPORT
A PICTURE OF YOU WITH MY OAD, YOU'RE WHEN YOU THINK SOMEONE
NEW PHOTO PEN } A SPORT MIGHT BE PUTTING
i YOU ON!
3 West dealer.
3 Neither side vulnerable.
+ NORTH
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Wo K976 @J10852
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: $752
The bidding:
West North East South
Pass 1NT Pass 49

Opening lead — queen of diamonds.

When declarer has a choice of
plays to make, the order in which he
makes them is often of critical
importance.

Here is a typical situation. South
wins the diamond lead and has three
different plays to consider. He can
take a spade finesse, a heart finesse
or lead a club to the king.

Since there is no urgency about
leading spades or clubs, South starts
by taking a trump finesse. If West has
‘ffthe king, South’s troubles are over.
However, East wins dummy’s jack
with the king and retums a diamond.






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NON SEQUITUR.
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LIST FOR THE
TOWN WALL
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NY 6c BEOL~
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UNEED To SCREEN TRE
PEPPLE KT TENDING

ONIN GE TRE CLONING
PRNGE IN KRIPTING
FOR THEN



HOW many words of
four letlers or more
can you make from
the letters shown
here? In making a
word, each letter may
be used once only,
Each must contain the
centre letter and there
must be at least one
nine-letter word. No
plurals or verb forms
ending in “s”. no
words with initial







V0GS ARE VERY
GOOD AT FICKING
UP SCENTS





T UKE ViIMeES
AND QUARTERS



a es permitted,
1e firs

in inkjet printer).

TODAY'S TARGET

‘Da00T by King Pearures Byrctcte, re, Wore ghia reserved. |. Solution tomorrow,

yo CRYPTIC PUZZLE

ACROSS DOWN

4 Getting me into mistreatment, but not 1 Sort of song or light orchestral
lately! (2,4) piece (5)

2 Teamina rout, perhaps, not likely to 2 Thanks to being in the wrong, a bad
win! (8) mark (5) :

3 Fishy old weapon? (4)
An ear, perhaps, for music (5)
It's bound to be Edward getting out of
line (4)

8 Gathers from various angles (6)

10 It's said to be cold in the country (5)

13 Reputed to give a slow starter
ahand (4)

14 Aflat stone and a hot one (4) 6 — Servant taking the meal in? (6)

15 Finished with nothing in the end, 9 Asound leader in the world
unfortunately (4) of music (6)

16 Bad actor, but le gets a bit of 11 The way a useless house still has.
applause in Clapham (3) point (3)

47 Not much of a partner for Jerry (4) 12 There's money to gain, you'll find (5)

13 By whatever means, ring me to be in
the show! (7)

19 Inireland, a meeting witha
Welshman at the rail terminus (4)





TARGET

23g #=
cM“ E- py SS
Sy sSSz=5
Ss -58s%
vou 2
up Gee.
eesgosc
Beck
ong

R

2

iC
P|M/A

capitals and no words with a hyphen or

word of a phrase is permitted (e.g. inkjet

Good 42; very good 63; excellent 83 (or more).

“THATS A RECORD! ONLY NINE A.M. AN”
MR.WILSON’S ALREADY MAD.”

Declarer wins, plays a trump to the
queen and ruffs a diamond. This
brings him to the point where he
must decide whether to broach the
clubs or spades next.

It should not take South long to
see the advantage in leading a spade
and finessing the queen, even though
he has only a singleton spade. In the
actual deal, the spade finesse wins
and assures the contract, since South
can discard a club on the ace of
spades. He later loses two club tricks,
but winds up making four. However,
as can be seen, if declarer tackles
clubs ahead of spades, he loses three
clubs and goes down one.

There are two good reasons for
taking the spade finesse before lead-
ing clubs. First, it costs nothing to try
the finesse. If it is unsuccessful,
declarer loses a spade trick unneces-
sarily, but is sure to get the trick back
because the ace of spades is still
available to take care of one of his
club losers. The transaction amounts
to an exchange of losers.

But the chief reason for playing
spades first is that if the finesse fails,
South retains his chance that West
may have the ace of clubs, while if
he tackles clubs first and the ace is in
the wrong hand, he goes down with a
club retum by East. By tackling
spades before clubs, South thus gives
himself two chances to make the
contract instead of just one.

chore chronic CHRONICLE cloche clone coil

coin coiner coir cole colic con
core corn cornice crone echo

hero heroic heroin heron hole
loner lore noel ochre ailer once orie

honer horn icon iron lino lion loc
rhino roil role

chlorine choice choicer_chi

YESTERDAY’S SOLUTION










My

word




A group of
people working
together to
bring about
some one thing

Vladas Mikenas v David
Bronstein, USSR championship
1979. Aking on the back row
behind unmoved pawns
becomes a prime target if the
game simplifies down toa
position like today’s with
roaming queens and rooks.
Bronstein, the world title
challenger who died recently,
considered this one of his best
finishes, particularly since
Mikenas’s defence looks solid.
Black would like to play
1...Qe1+ 2 Rxe1 Rxe1+ 3 Qf1
Rxf1 mate but 2 Qf1! is a simple





POWERS, HE QUICKLY... }

GBs RE oe ae oe

TUESDAY,
MARCH 20
ARIES — March 21/April?20

er-escac

| Focus less on career relationships

and more on friendships: based on
mutual values and beliefs. Now§s the
time to slow down enjoy life at an
easier pace. j

TAURUS -— April 21/May2
Well, Taurus, now’s the time to Hress
to impress if you’re determined to
move up in the world. Don’t trydo be
something you’re not, but do §how
others what you’re capable of. «

GEMINI - May 22/June 21
This is one of the most positive times
of the year for you. Smile and flon’t
be afraid to walk with your heackheld
high. You can do no wronggthis
week, Gemini... t
CANCER - June 22/July 22
Money’s on your mind this week,
Cancer, You’ve been distracted as of
late, and have neglected your:cash
flow situation. Don’t worry — you’ll
soon be able to make up any short-
falls in your accounts. :

LEO - July 23/August 23. -
This promises to be a wonderful week
for you, Leo, ‘as you’re feeling particu-
larly amorous. Treat that special some- ”
one to a romantic dinner night out on
the town. It will definitely he worth it
VIRGO — Aug 24/Sept 22;
The sign of-health, you're irt the
mood to improve your fitness
level, Vitgo. A change of diet and
exercise routine is a must if ygu’re
to remain interested. :
LIBRA — Sept 23/Oct 23 |
Forget about the past and all that’s
gone wrong in it, Libra. Many things
are set to go right for you in the'next
couple of weeks. Loosen up and
enjoy it!

SCORPIO — Oct 24/Nov 22
Focus on what’s important to you
this week, Scorpio. You could miss
out if you spend too much time wor-
rying about minor setbacks in recent
weeks. Take it easy. 1
SAGITTARIUS — Nov 23/Det 21
You may be feeling more relaxed
than usual this week, which is great
because the more you sit back and let
life come to you, the more you'll ;
enjoy every day. Money problems
will cease to bother you by Thursday.
CAPRICORN -— Dec 22/Jan 20
Over the next four weeks or so,
youll consolidate what you have
gained and make it permanent. You
should make time to enjoy it, you’ve
certainly worked hard enough. +

t
AQUARIUS — Jan 21/Feb 18
What goes around comes around, so
think before you speak. There/s no
better time than the present to decide
what you want most out of life and
make it your own. ‘
PISCES — Feb 19/March 20
Profit and popularity are important,
but peace of mind is even more so. If
you have any nagging doubts about
your personal or professional relation-
ships, confront them now

4

et aS) Leonard Barden

«



21 Not, specifically, highly valued? (9) 15 Will one physici 114. sfora
23 Abribe to stop something hundred? (3)
getting out (4) 16 Property of a fellow British
24 That woman's contradiction of “16 islander (3)
Down" (4) 18 |s Gert upset by their fierceness? (6) ACROSS on Su
26 Ithas the ability to preserve (3) 20 As specified, it's na liability (5) : deerseen (6) : a
27 East to north, it's on the Thames (4) 21 Puny joke? (3) ae 1 : ) 3 Employer (4)
29 Always included in 22 Half length chap? (3) 10 Glowing coal (5) 4 — Noblemen (5)
severance pay (4) 23 Ron takes a horse around a lordly 13. Fall (4) 5 Harvest (4)
32 Atthe front, i's both qui domain (6) Lid 14 Prophet (4) 6 Type of fuel (6)
i i ——l 15 Compass point (4) 9 Decayed (6)
and noisy (4) 25 Fora bighead, for instance, a N 16 Marry (3) 11 Encountered (3)
os Bur one May Rete touching thing t0 do? (3) SS 17 Coral ridge (4) 12. Mistake (b)
coach (5) 28 It's a pound for a child, that’s all (5) Oo. 19 Follow (4) 13. Sullied (7)
34 Trouble the medical officer just in 30 Figures out Ali as genuine (5) > 21 Land mass (9) 15 Moist (3)
31 Leather checkers (5) 23 Section (4) 16 Humour (3)
ae i : : ” 24 Yearn (4) 18 Necessitate (6)
35 By which would-be parents 32 Lucre quielly acquired by a pixie (4) << 26 Policeman (3) sieoorar Gi
nowadays have a choice (8) 33 Take refreshment in the style Lu 27 Copied (4) 37. Headwear jiem (3)

36 Is lris abit of one? (6)

of puss (4)

NE HA

resterday’s cryptic solutions

ACROSS:1, H-arrow 7, Receiver 8, To-me 10, Triton 11,
A-rrive 14, Me-W 16, Tales 17, De-ed 19, M-one-y 21,

Damon (nomad) 22, Toy-Ed 23, Plea(-sure) 26, An-ton 28,

Ml-a 29, Stoned 30, Wal-nut 31, He-L-'d 32, Di's-taste 33,

Ne-we-st

DOWN: 1, Hal-Ted 2, Rooted 3, Wren 4, Hearten 5, Avail 6,

Tries 8, Ji-me 9, Mow 12, Ray 13, Verve 15, W-omen 18,

Event 19, May 20, No.-D 21, Done-gal 22, Ton 23, P-ill-OW

24, La-N-d 25, Artist 26, A-side 27, Torso 28, Mae 30,

When

resterday’s easy solutions

ACROSS: 1, Dredge 7, Deleated 8, Give 10, Craven 11,
Finite 14, Let 16, Cured 17, Dial 19, Pecan 21, Melon
22, Merit 23, Chew 26, Pagan 28, Era 29, Alerts

30, Emerge 31, Nude 32, Marooned

33, Suture

DOWN: 1, Danced 2, Drivel 3, Eden 4, Pelican 5, Stair 6,

Idled 8, Gala 9, Vet 12, Nun 13, Terse 15, Relic 18,

Ideal 19, Per 20, Cot 21, Mention 22, Mar 23, Credit 24,

Hare 25, Whence 26, Palms 27, Genre 28, Emu 30,

| Ends

29 Eye-piece (4
32. Bound (4)
33 Principle (5)
34 Entertain (6)
35 Worker (8)
36 Anxiety (6)

Signal assent (3)
Powertul (6)
Number (3)
Rinds (5)
Access (5)
Wading bird (5)
Story (4)
Accepted (4)

competitive play, you can take part ,
in simuls against masters, watch
top tournaments, and register for
lessons. There's a free seven-day
trial.

counter. Meanwhile, White’s b4
rook threatens Rxb6 winning a
pawn. What should Black play?
If you want to improve your web
chess game, check out the
Internet Chess Club

(chessclub.com). Besides LEONARD BARDEN |





*
Chess solution 8326: 1...Rxa3! and White resigned
If2Rxa3 Qel+ or 2Qxa3 Qels or 2bxa3 Qxal* 3Rb1
Rel+. Meanwhile the a3 rook menaces the al rook and
the d3 queen, su Black mates or gains decisive
material.
Mensa quiz: Butlery, buttery, button and buttress
One possible word ladder solution is: SENT, pent,
pelt, melt, malt, mall, MAIL.


PAGE 8B, TUESDAY, MARCH 20, 2007

- SITUATION VACANT

TRAINED AUTOMOTIVE
TECHNICIAN

experienced in American, Japanese
and Korean vehicles needed

















Applicants must be familiar with automotive
computer analysis systems and preference will
be given to applicant with proven dealership
experience. References as proof of good work
relationships must be supplied.

Apply in person or in writing to:
Manager
QUALITY AUTO SALES
(FREEPORT) LTD.
Queens Highway
P.O. Box F-42405
Freeport, Grand Bahama

MAINTENANCE/HANDYMAN
WANTED

A leading retail company has an immediate opening
for a Maintenance/Handyman

BASIC REQUIREMENTS

1. Should have a basic working knowledge electrical,
plumbing and general carpentry repairs.

2. Must have a clean current Police Record

3. Must be a self-starter with drive and determination

4. Must be able to work with minimum supervision.

5. Previous experience not required but would be an
asset.

Persons meeting the above requirements should submit
their Resumes via fax to the address below.

The positions offer career opportunities with excellent
salary and benefits package.

.

THE OPERATIONS MANAGER
Fax: 328-5902



THE TRIBUNE ..

Abaco Markets to close asset sales by April:

FROM page 1B

to the $161,000 realised one
year ago.

Sales at continuing opera-
tions, which include the com-
pany’s Solomon’s SuperCentre
and Cost Right outlets in Nas-
sau and Freeport, plus Cost
Right Abaco, rose by 6 per cent
in the fourth quarter to $22.1
million.

The net profit of $1.06 mil-
lion compared to a $301,000 loss
for the fourth quarter in the
year ended on January 31, 2006,
while earnings after bank inter-
est payments for the 2007 peri-
od stood at $297,000, compared
to a $233,000 loss the year
before.

Mr Watchorn revealed to The
Tribune that for the full-year to
January 31, 2007, Abaco Mar-
kets would show a small oper-
ating loss on continued opera-
tions of $50,000, but this paled
against the $2.1 million loss seen
the year before. °

After bank debt interest pay-
ments, Abaco Markets would
see a $1.5 million loss, yet this

was less than half the $3.9 mil-
lion experienced in fiscal 2006.
“We intend to lose a lot of
that interest expense this year
with the pay down of bank
debt,” Mr Watchorn added.

For the full-year to January
31, 2007, Abaco Markets saw
sales at continuing operations
rise by 6 per cent, while it was
able to reduce expenses by “a
couple of hundred thousand”.
As a result, sales, general and
administrative expenses
“improved substantially”, Mr
Watchorn said, while Abaco
Markets also saw some
improvement in its margins.

Abaco Markets said its Board
of Directors had chosen to con-
vert Cost Right Abaco to the
full Cost Right model rather
than seek to sell it.

The company said the con-
version would take place in two
phases, the first phase focusing
on an adjustment of product
mix and improving the shop-
ping experience by installing
air-conditioning and upgrading
the premises. The second phase
will involve providing a full
assortment of perishable prod-

ucts, including a full line of pro-
duce and meat and chilled and
frozen departments.

Mr Watchorn told The Tri-
bune: “We feel there’s an
opportunity in the market there.
We looked at the options avail-
able to us, and felt initially that
by making a small investment
commitment, we have an
opportunity to get a successful
store operating there.

“We have changed almost
completely away from the
wholesale model. We don’t
want to lose our wholesale cus-
tomers, obviously, but are going
to convert to the full Cost Right
model.”

The Board decision has
allowed Abaco Markets to take
back provisions previously
made for the store’s divestment.
The company wrote back
$602,000 in reserves during the
fourth quarter that were previ-
ously recorded as a $1.5 million
charge in the first quarter. A
small percentage of that related
to Cost Right Abaco, with the
rest coming from selling assets
at better prices than estimated
for.

Abaco Markets also gained
$152,000 on the sale of its Cedar
Street property in Freeport, and
Mr Watchorn said the company
felt its Cost Right Freeport

.store could be relocated there

“a little bit sooner” than early
summer 2007, as it was “ahead
of schedule” on that project.

“Cost Right Freeport has out-
grown its current location,” said
Mr Watchorn. “The business
there is expanding and we are
looking forward to opening a
Club model back at Cedar
Street — a location originally
designed for that type of busi-
ness and one in which we will be
able to offer Grand Bahamians
more products and even more
value.

“The key for our group has
been focusing on the basics to
improve our customers’ expe-
rience, reduce shrink and loss
and damage, an ‘ncrease same
store sales. Certainly, there is
still work to be done in our con-
tinuing operations, and we are
committed to building on the
steady improvements and sus- -
tained progress we have seen
over recent quarters.”

Baha Mar ‘not out of line’ on incentive talks

FROM page 5B

what Kerzner International had done in
one phase on Atlantis, the project having
been touted as the largest resort invest-
ment in a single phase in the Western Hemi-
sphere.

Despite what Baha Mar is seeking,
sources Said that if the formula agreed with
the Government was applied, the ratio
between investment incentives to invest-
ment by the developer would remain the
same for the $2.4 billion project as the $1
billion project.

“You ensure the percentages are the
same under the agreed upon formula,” a
source told The Tribune. “If you apply the
formula to the increased incentives, you
get the same ratios. Baha Mar feels it’s not
asking for something out of line.”

In its release, the Government said it had
communicated to Baha Mar three weeks
ago that the developer would need to seek
an extension to the March 15 deadline for
completion with Harrah’s, saying this was
not unusual for a development such as this.

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Yet The Tribune was told that while one
government official had suggested a three-
week extension to the Harrah’s agreement
might be necessary, subsequent to that Baha
Mar was reassured by a number of govern-
ment officials that the March 15 deadline
was “achievable”, encouraging the devel-
oper not to negotiate an extension.

“T think the conversations they have had
with Harrah’s indicate that Harrah’s would
like them to draw this project to a conclu-
sion,” one source said. “They’re watching

this carefully, but have given no indication ~

yet they’re going to pull out of the project
altogether.”

Baha Mar is understood to believe it has
fulfilled all the conditions precedents oblig-
ations in its Heads of Agreement with the
Government, namely equity requirements,
financing and world-class casino and hotel

brands in the shape of Harrah’s and Star- ©

wood.
The developers met with the Govern-
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Yet the Government said in its weekend

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press release that Baha Mar had “rejected
significant parts” of its March 7 proposals
on investment incentives, approvals and
other requests.

Last week, Baha Mar warned that its $2.4
billion Cable Beach redevelopment project
had been placed in jeopardy by the failure
to yet conclude a supplemental Heads of
Agreement with the Government, some-
thing that could allow Harrah’s, its joint
venture partner, to “walk away” from the
deal.

Starwood, the other operating partner
that does not hold an equity stake, has a

“me too” clause in its agreement with Baha -° man
» Mar allowing it to walk away if Harrah’s

chooses to exercise that right.

Baha Mar previously pointed out that
the project would contribute $400 million or
6.5 per cent of Bahamian gross domestic
product (GDP) during its first full:year in
operation.

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development would generate over $15.5
billion in GDP over the first 20 years,
attracting 600,000 guests in its first year and
creating 6,000 direct jobs at the resort in
full operation, plus-2,000 indirect and
induced jobs.

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