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_02855 ( sobekcm )

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WEATHER

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The Tribune

#1 PAPER IN CIRCULATION
Che Miami Herald



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« |
@ By PAUL TURNQUEST
, Tribune Staff Reporter

DIRECT OR of Public Pros-
ecutions Bernard Turner said
yesterday: that the open inquest
into the death of Daniel Smith
will begin on Thursday as closed
sessions with local attorneys,
which started today, will con-
tinue SLoidine ta tomorrow.







AUTO

E MANAGENENT

D. ENSURANCE BROKERS & AGENTS

of Daniel Smith

main thrust of the argument

behind the attorney's discus-,

sions is the way to ensure the
"fairness" of the seven-man
jury.

Reportedly there. is some
issue as to whether or not there
can be an impartial jury select-
ed with such a high profile case
as this.

Daniel Smith, the son of

deceased US celebrity Anna_

Pap



INSURA NC
















Fale: Eleuthera | Fume |
Tel ul) 432-7860 Tek (249) 336-29 aM Y



BAHAMAS EDITION





WEDNESDAY, MARCH 28, 2007

Nicole Smith, was discovered
dead in his mother's hospital
room at Doctors Hospital in
September last year.

Daniel had just arrived in the
Bahamas and was visiting with
his mother and newborn sister
Dannielynn Hope. The next
morning he was discovered in
a non-responsive state.

P SEE page ae




B@ AQUINAS College
celebrated the ‘Journey to
Freedom — A Bicentennial

Abolition Celebration of the
Slave Trade’ with performers

displaying African dances
e SEE PAGE TWO
(Photo: Felipé Major/
Tribune staff)

PRICE — 75¢



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SORE m Ke
‘ustrate return of

Haitian-Bahamians’

@ By RUPERT MISSICK Jr
Chief Reporter

THE Bahamas’ current immi-
gration policy was intentianally
designed to frustrate the return
of Bahamians of Haitian
parentage and Haitian-Bahami-
ans to claim citizenship, it was
claimed yesterday.

Lawyer and human rights
advocate Elizier Reginer told
The Tribune that this is a viola-
tion of the tenets of the
Bahamas Constitution.

He explained that given the
“impotence” of the Bahamian
Consulate office in Haiti, it is
virtually impossible for person
with legitimate claims on
Bahamian citizenship to leave
Haiti and come to the Bahamas.

In terms of their power to
approve or renew travel docu-
ments the consulate office has
not been given the power to do
this and people are banished to
Haiti without a way to legally

re-enter the Bahamas to make a

claim.

“Then the Bahamas govern-
ment would say you did not
apply in time for your 18th
birthday. This frustrates young
people further because they are
not legitimate. They cannot get
an education and have no right
to bank in this country. It puts
them in a second class. It is a
human rights issue

“They take it for granted that

Man found dead is
identified by police

@ By DENISE MAYCQCK
Tribune Freeport Reporter

FREEPORT - Grand Bahama Police have identified the’ man
found dead in a parked vehicle on Barbary Beach as 31-year-old
Desmond Butler, a resident of Freeport.

The victim, who is a resident of Gordon Avenue, is also known
as Druma Alexander Carey, according to a press release issued by

police on Tuesday.

Butler’s body was discovered by police on Saturday evening
around Spm at the eastern end of Barbary Beach.

According to reports, Police received information about a sus-
picious vehicle parked in an isolated area about 200 yards north of

SEE page 11

these people will accept a sec-
ond class citizen position and
be grateful for the little favours
they are given. It is a show of
disrespect for a whole commu-
nity,” Mr Reginer said.

The Bahamas Constitution
allows that every person who
was born in the Bahamas on or
before July 9,1973 became a cit-
izen of the Bahamas on July 10,
1973.

The Constitution also allows
for a person born in the
Bahamas after July 9, 1973, nei-
ther of whose parents is a citi-
zen of the Bahamas, to become
a citizen after he or she has
reached the age of 18

-Darold Miller

claims he is

‘innocent of
any suggestions
of impropriety’
@ By TRIBUNE STAFF

DAROLD Miller yester-
day declared that he is
“innocent of any suggestions
of impropriety.”

This came as the police
confirmed that the investi-
gation into the sexual related
complaint against the well-
known media personality is
still underway.

In a letter to the editor,
Mr Miller stated that he was
“mystified” by the front
page article which appeared
in The Tribune last Saturday
entitled “Sexually-Related
Complaint Against Darold
Miller.”

“Firstly let me say that I
could not find one scintilla of
an allegation in your story. I
deny each and every infer-
ence of an allegation with all
that is within me. Iam inno-
cent of any suggestion of
impropriety at all,” he said.

Mr Miller went on to state





SEE page 11

years, or within that year he or
she is 18.

Bahamian officials, he said,
must acknowledge that before
1973 many Haitians, who had
children born in the Bahamas,
were deported.

“Where are these children?
Many of them were not docu-
mented. I am not talking about
the Haitian-Bahamian I am
talking about the full Bahamian,
pre-1973 births.

“These people are in Haiti,
wandering around like zombies
now. They want to come back,
but no one is checking for

SEE page 11

Developer claims
Ministry ‘victimising’
people who have
bought home

lots from him

A DEVELOPER has
appealed to the Ministry of
Works to stop “victimising”
people who have bought home
lots on one of his subdivisions.

Joshua Haeward claims the
ministry is denying building
approval to buyers simply
because of their associations
with him.

“These people are straight-
forward middle-class families
and I want them to be free to
get ahead with their lives,” Mr
Haeward told The Tribune yes-
terday.

“Some of these people have
their lives on hold because of
this. This bothers me a lot.”

However, a spokesperson for
the Ministry of Works yester-
day told The Tribune that Mr
Haeward has failed to obtain
both a land use approvals and a
subdivision approval.

The spokesperson, who
wished to remain anonymous,
claimed that Mr Haeward has a
“long history of not living up to
the end of his bargain” when it

SEE page 11

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PAGE 2, WEDNESDAY, MARCH 28, 2007

THE TRIBUNE





Tourism official: the Bahamas
will be in next global survey

@ By ALISON LOWE
Tribune Staff Reporter

Ministry of Tourism officials
have pledged that the Bahamas
will be included in the next
World Travel and Tourism
Competitiveness index.

The ministry yesterday
released a statement saying that

they have. received this assur--

ance from the organisation
behind the survey, the World
Economic Forum, after The
Tribune raised the question
with the ministry ‘of why this
country was not included in the

comprehensive and widely tout- -

ed 2006 report, released several
weeks ago.

A ministry official said that
the country’s inclusion in this
year’s Economic Forum survey
will “serve to provide yet anoth-
er barometer to evaluate the
performance of the important
tourism sector to the local econ-
omy as well as indicate where
we stand internationally".

“And we will, of course, pro-
vide any data necessary to
inform such a report and stand
ready to do so,” he added.

The World Travel and
Tourism Competitiveness
Index, released early March,



Ministry commits to providing data to World Economic Forum



ranked 124 countries “according
to the environments they offer
for developing travel and
tourism.”

The survey concluded that
Switzerland was the most com-
petitive tourism destination
overall, while Barbados, ranked
29th, was the highest ranked in
the Latin American and
Caribbean region.

Benchmark

Officials behind the survey
said that it would help those
countries included “to bench-
mark themselves against other
countries".

“Compelling economic
data...will assist the more
dynamic nations to take posi-
tive action, stimulating their
tourism economies,”
president at the World Travel
and Tourism Council, within the
WEC, Ufi Ibrahim.

The comparative data it pro-
vides can be a tool not only for
governments but also for policy

a AQUINAS College Sadeote enjoy : a performance from

Ancient Man



WAN African = troupe performs a celebration of freedom







RULES

family. guardian’
a celebration of nature

14 winning entries will appear in Family Guardian’s 2008 calendar.
Winning entries receive a gift certificate valued at $400 each.
Entry deadline is May 31, 2007

1 Family Guardian's Annual Calendar Photo Contest is open to all photographers.
“A CELEBRATION OF NATURE.” Photographs may be of any subject (animate or inanimate) or a scene which is a striking example of nature as found in
The Bahama Islands. All photographs must be taken in The Bahamas.

2 DEADLINE FOR ENTRIES IS MAY 31, 2007.

3 All entries are to be delivered to Family Guardian’s Corporate Centre, Village and Eastern Road Roundabout, Nassau, between 9:00am and 5:00pm
weekdays only. Envelopes should be marked “Calendar Contest.”

said vice- .

makers, travel and tourism com-
panies, investors and academics.

Queried after its release sev-
eral weeks ago, Edwin Light-
bourne, general manager in
charge of communications at
the Ministry of Tourism, said
he would look into why the
Bahamas was excluded.

Yesterday, a statement
released by the Ministry said:

“Aviva Rajczyk of the WEF
noted that the reason for the
Bahamas’ exclusion from the
124 countries recently survey
related to the methodology
used by WEF, adding that The
Bahamas will be covered in sub-
sequent reports.”

According to the Ministry,
the WEF said that they could
not identify a “partner institute”
in the Bahamas last year
through whom they could col-
lect the data to be included in
the index, as they had with oth-
er countries.

However, the WEF stated
that this year they have found
such a partner institute, and
therefore the Bahamas will be

dseceeedeereceacareseeneeceresescenncseereracsnsaressecseaseseesaneaees, Seteeeeeeeeeeesaneeeeneeeenarneeseneesseaaueseeeneneeanensesusaneeaesecenssenaneseeraneeeesaneesessaeesssceeseseseeeseseeeeaseeeen ees

Celebration
of culture

B AQUINAS College
celebrated Journey to
Freedom: A Bicentennial
Abolition Celebration of
the Slave Trade, as
performers displayed
African dances with the
Song Soona Will Be Done

‘

included in the 2007 Global
Competitiveness Report and

the next Travel and Tourism
Report.

Alley work underway

@ ANOTHER set of explosives are set off yesterday on
Harrold Road, as a layer of limestone is removed to make
way for a proposed bowling alley



oto contest.

The title for the company’s 2008 calendar will be










@ AQUINAS College
celebrated the abolition of
the slave trade with a
performance of African
dances

(Photo: Felipé Major/
Tribune staff)

Share
your
nevis

The Tribune wants to hear



In brief

Police seek |
DNA samples
after World
Cup murder

@ JAMAICA
Kingston

POLICE will seek DNA
samples from everyone in the
hotel where Pakistan cricket
coach Bob Woolmer was
strangled - including mem-
bers of the West Indies and
Ireland teams — an official
announced Monday, accord-
ing to Associated Press.

Deputy Police Commis-
sioner Mark Shields called
the effort “a huge task” and
said there would be no quick
end to the probe into who
killed Woolmer after his
team’s surprise elimination
from the World Cup on St
Patrick’s Day.

“There are many potential
suspects in this investigation
and even more potential wit-
nesses,” Shields told journal-
ists gathered at the Jamaica
Pegasus Hotel, where
Woolmer’s body was found
the day after his team lost to
Ireland.

Woolmer’s death shocked
the global cricket fraternity
and cast a pall over the
World Cup, being played in
nine Caribbean countries
through late April.

Speculation has focused on
everyone from crazed fans to
a gambling mafia and dis-
gruntled Pakistani team
members.

Jamaican authorities
already questioned and
obtained DNA and finger-
print samples from Pakistan’s
24-man team, which was
allowed to leave the island
on Saturday.

“That process will continue
for everybody else who was
in the hotel at the same
time,” Shields said, adding
that police might travel
abroad to collect samples and
question people, including
those in other Caribbean
islands for the World Cup.

He said it might not be nec-

essary to call people back to
Jamaica but did hot ‘rule ‘it
out.

Woolmer, 58, was found

dead in his hotel room March:

18. Police said he likely knew
his killer or killers because
there was no forced entry.
They have not identified sus-
pects.

It was not immediately
clear how many people were
staying in the hotel when
Woolmer was killed. Besides
Pakistan’s team, players from
the West Indies and Ireland
squads also were guests, as
well as dozens of fans and
international journalists.

“We’re still trying to track
down as many witnesses as
we can,” Shields said. “It’s a
huge task ... but we have to
start from somewhere.”

Shields said police were no
closer to identifying a motive
but that he would assign offi-
cers to an International
Cricket Council probe into
whether Woolmer’s murder
was linked to match-fixing.

He said police were still
reviewing closed-circuit video
and Woolmer’s laptop for
clues.

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from people who are
making news in their
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4 Allentries must be accompanied by an official entry form, available at any Family Guardian office or when published in the newspapers.

5 Only colour images in horizontal format will be considered. Images must be provided as 35mm film or digital images on CD. 35mm film can be positive
(slides) or colour negatives. Digital images must be of high quality (2700 x 2100 pixels or larger). Digital images showing any signs of photo manipulation,
resolution enhancement or compression will be rejected. To ensure the best colour reproduction, digital images should be supplied in RAW, TIFF or high quality JPEG
and in the original colour format the camera uses (LAB or RGB). All entries must be supplied with prints which will be used in the judging process.
(Note: prints submitted without 35mm slides or negatives or CD’s will not be eligible). The photographer's name and photo subject should

_ be written on the reverse of the print.

6 Judging of entries will be based on beauty, interest, composition, colour, originality and quality of photograph. Preference will be given to fauna photographed in its
natural state, rather than in captivity. The photographs selected will appear in Family Guardian’s'2008 calendar. The decision of the judges will be final.

7 Allentries are submitted at the owner's risk. It is the company’s intention to return all entries in their original condition. However, Family Guardian
will assume no liability for any loss, damage or deterioration.

8 Agift certificate valued at $400 will be presented for each of the photographs selected. More than one entry from a single photographer may be selected.
Photographic credits will be given in the calendar. The number of entries per photographer is limited to a maximum of 5 photos.

9 ‘The winning photographs, along with all publication and reproduction rights attached thereto, become the Brpenty of Family Guardian and the company

reserves the right to use such in the future.


































10 Employees of Family Guardian, its affiliated companies or family members are not eligible. ,

11 Previously published photos are not eligible. »

[Pe ee ee ee ee ee ee ee ee ee ee ee *

i 2008 CALENDAR PHOTO CONTEST ENTRY FORM i :

Photo by Tim Higgs NAME »,

cs: Family Guardian’s PreeeeeeeOOOTECESeee eT eer eee Sere cere rere eee r reer eee reer ere eee err ere ee erie reer reer errr reer reer eee rere teeter ete »,

eee Catonder TEL BUSINESS ‘
P.OsBOX sssrisscsieas.

%

i SIGNATURE *,

A DAB eiaseesisssvictesiereoewesd (maximum of 5) m

| agree that in the event that one or more of my entered photographs is selected as a winner in the 2008 Family %

Guardian Calendar Photo Contest it wil become the property of Family Guardian Insurance Co. Ltd., and *

| assign to Family Guardian all rights pertaining to its use in any way whatsoever. | also confirm that the .

photos entered in this contest were taken in The Bahamas by the undersigned and have not been *

previously published. ®,

tun th ps: -WEFAMILY | °

Calendar Contest, Family Guardian ‘

Corporate Centre, Village & Eastern Road GUARDIAN i *

Roundabout, Nassau, Bahamas INSURANCE @

ENTRY DEADLINE: MAY 31, 2007 l :

COMPANY



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© [n brief

Meeting
scheduled
to discuss
social ills

A meeting has been called by
the National Youth Advisory
Council to discuss the issue of
crime, the “staggering” murder
rate and other social ills affect-
ing the country.

One of the key points to be
addressed, the council said in a
statement yesterday, is the
importance of young Bahami-
ans registering to vote and vot-
ing “wisely”.

“The chairman of the Nation-
al Youth Advisory Council will
seek to reveal and unveil to the
nation’s youth and the public
at large the truth behind all the
deception that they have been
fed,” the statement said.

The meeting will take place
on Moday, April 2 at Spm in
Rawson Square.

In attendance will reportedly
be youth leaders from various
groups, including Youth
Against Foolishness (Y AF) and
Parents Against Foolishness
(PAF).

Meeting
scheduled
to discuss
social ills

THE Princess Margaret Hos-
pital has announced that its tele-
phone service has been recon-
nected following a short inter-
ruption.

The hospital extended apolo-
gies for any inconvenience that
may have been caused by the
problem.

Former Polish
presidents
back Cuba
opposition

m@ POLAND
Warsaw

TWO former Polish. presi-
dents have put aside their long-
time rivalry to encourage
Cuba’s struggling democratic
opposition, according to Asso-
ciated Press.

Lech Walesa, the renowned
Solidarity leader, and Alek-
sander Kwasniewski, a former
communist who became a pop-
ular democratic president, joint-
ly published an open letter to
the people of Cuba encouraging
them to persist in seeking
democratic change and promis-
ing them Polish support.

“May these words, which we
write together, along with the
example of a free and progress-
ing Poland, serve as testimony
to the victory of agreement over
conflict, dialogue over quarrel,
good over evil,” read the letter,
published by the Polish media
on Tuesday.

The leaders recalled how they
sat on opposite sides during the
so-called Round Table Talks _
historic negotiations in 1989 that
brought a bloodless collapse of
communism.

“You are faced with a great
opportunity to restore democ-
racy in Cuba, an opportunity
that you must not waste,” they
wrote in the letter, which first
appeared in Sunday’s Miami
Herald.

Walesa was the first fully
democratically elected presi-
dent. Though considered a hero
for his dissident activities under
communism, he faced low
approval ratings as president
and was trounced by Kwas-
niewski in a 1995 race.

Kwasniewski served the two
terms allowed under Polish law,
and left office in 2005.

Last year, the Lech Walesa
Institute in Poland began a pro-
ject promoting solidarity with
Cuba’s democratic opposition.

INSIGHT

For the
stories

behind the

news, read
Insight on
Mondays



he Loungers |



Symonette to run in St Anne’s

as FNM revises candidate list

m@ By BRENT DEAN

BRENT Symonette will be
running in the new St Anne’s
constituency and Loretta
Butler-Turner will be con-
testing the Montagu seat,
sources have confirmed.

The FNM was early in
announcing its full slate of
candidates, as compared to
the PLP, which officially pub-
licised its candidates list last
night.

However, the report of the
constituencies commission
has led to the addition of one
seat, along with the reconsti-
tution of numerous others in
New Providence. Conse-
quently, the FNM is now
compelled to revisit its origi-





nal candidate configuration.

FNM chairman, Desmond
Bannister, stated that the party
will meet tonight and a revised
list of candidates may be pub-
licly released as soon as Thurs-
day.

However, he neither con-
firmed, nor denied, the sug-
gested moves of Mr Symonette
and Ms Butler-Turner.

FNM deputy leader, Brent

Election |




Symonette, confirmed that rat-
ification of certain candidates
is to occur tonight and that the
party will make the announce-
ment of its revised list of candi-
dates tomorrow.
Mr Symonette further stated
that the ratification meeting
pertains to the New Providence
seats that have been signifi-
cantly altered as a result of the
government’s — boundary

changes. The Family Island
seats will remain the same, he
stated.

“The only affected areas are
Montagu, St Anne’s, Killarney,
Clifton and Golden Isles. And,
we'll ratify those hopefully,” Mr
Symonette confirmed.

The alterations to the bound-
aries by the government has
eliminated the St Margarets
constituency — which only came
into effect for the 2002 election,
in a move that some commen-
tators have suggested was an
attempt, by then prime minister
Hubert Ingraham, to unseat
Pierre Dupuch.

Ms Butler-Turner lost the St
Margarets constituency by a
mere 27 votes in the 2002 elec-
tion to Mr Dupuch. Brent

Symonette won Montagu by
590 votes in 2002, by defeating
Senator. Yvette Turnquest —
who will again contest the Mon-
tagu seat.

Rumours have also emerged
that Alvin Smith, the current
MP for North Eleuthera, is
being considered in a move to
the new Clifton seat.

A source indicated that the
FNM leadership is not happy
with the Mr Smith’s campaign,
and they fear the loss of the seat
in North Eleuthera. Mr Smith
defeated former PLP Senator,
Damian Gomez, by 209 votes
in 2002.

If Mr Smith does move to
Clifton, it is suggested that
Richard Lightbourne may take
his place in North Eleuthera.

Wallace Rolle confident of South Beach PLP victory

@ By ALEXANDRIO MORLEY
Tribune Staff Reporter

THE PLP’s candidate for
South Beach is already claim-
ing victory in the upcoming
general elections.

Wallace Rolle told The
Tribune that he is already
receiving positive feedback
from residents and that there
is no doubt in his mind that
“South Beach is PLP.”

But, last week FNM can-
didate Phenton Neymour
claimed the Progressive Lib-
eral Party had already con-
ceded the South Beach seat.

At a rally in South Andros,
Mr Neymour said: “First I had
Agatha Marcell, and I told
them by Christmas she’d be
gone. She is gone. Then the
next one they brought in was
Hope Strachan. Well Hope
ain’t get nod hope no more
because she met up with a real
Neymour man.

“Then they bring me Wallace
Rolle. Well it ain’t long for Wal-
lace and I’ve been waiting for
him for a long time. Ladies and
gentlemen, South Beach is
ours.”

However, Rolle said he is
already running his campaign

like he has won and that his
objective is to increase his sup-
port base.

“We are going to see every-
body in the constituency at least
twice, possibly three times,” he
said.

Rolle described South Beach
as a lower middle to middle
class area and he claims most
residents are concerned with
ensuring that their neighbors
maintain a certain standard.

He also said that access to
community parks and crime
were major concerns among the
residents.

Asked what his plans were

for South Beach if elected,
Rolle said: “A lot of times per-
sons who aspire for office go
there with a plan. My goal is
to bring representation closer
to the people. That is to listen
to what the concerns of the
people are and try to make
sure that those concerns are
heard.”

Rolle also claimed that last
week’s re-structuring of con-
stituency boundaries had a pos-
itive effect on South Beach.

He said: “We had an area in
Adelaide that is no longer in
South Beach and that’s in our
benefit. We also lost the Silver

Gates area, which was also pos-
itive.”

The Progressive Liberal Par-
ty was expected to officially
announce its slate of candi-
dates yesterday at the Radis-
son Cable Beach Resort ball-
room. ©

The governing party is
expected to contest 39 of the 41
constituencies in the general
election.

Wallace Rolle is expected to
get the nod for the South Beach
constituency.

The only seats the PLP will
not contest are Bamboo Town
and Long Island-Ragged Island.



‘State of playground

comes under fire

THE Elizabeth Estates play-
ground is “an accident waiting
to happen” according to the
FNM.

Ina ee yester=. *

day, the party,said the play-
ground is in a state of disre-
pair and much of the equip-
ment is broken and hazardous.

What is more, it said, the
basketball court is covered

E with broken bottles.

Pauline Nairn and Elma
Campbell, the FNM candidates
for Yamacraw and Elizabeth
constituencies respectively,
noticed the state of the play-
ground when they visited
teachers at the Thelma Gibson
Primary School on a fact find-

ing mission.

The school, which borders
on both constituencies, is of
special interest to both women
as most of the parents that live
in the area send their children
there.

Mrs Nairn assured the teach-
ers that her visit was not to
campaign but to hear the con-
cerns they had for the school
and the students who attend
there.

She also asked what
enhancements they would like
to see for the school, and how
best the community and the
school can come together to
make things better.

One of the areas of great
concern for teachers was the
school’s library.

re

rs Bence
e Umbrellas
- Drinks Trolleys

‘Coffee Tables
ind Tables

They felt the current facility





PAULINE Nairn and Elma Campbell, FNM candidates for



Yamacraw and Elizabeth constituencies

is inadequate and in need of
an upgrade, according to the
FNM statement.

The teachers also expressed
their concern that there are no
proper facilities for the chil-
dren to play on, and a propos-
al was put forward for a school
auditorium and a proper play-
ground.

The courtyard where the
school’s assembly is held leaves
a lot to be desired, the FNM
added.

Elma Campbell said that if
Bahamians as a people do not
pay enough attention to their
children, especially in the far-
mative years, negative conse-
quence are inevitable.

She stressed that during her
tenure as a teacher, a few of
the boys she taught at the

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This trend, she said, must be
avoided and Bahamians must
pay attention to nurturing
while their children are young.

A male teacher emphasised
that the PTA was not a priori-
ty for most parents of children
at Thelma Gibson Primary.

He insisted that if more par-
ents participate in their chil-
dren’s life, the country could
head in a very positive direc-
tion.

Everyone present agreed
that it takes the collaborative
efforts of parents, teachers, the
community and the govern-
ment to make a country work —
regardless of which party is in
power.






















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(@)

PAGE 4, WEDNESDAY, MARCH 28, 2007

EDITORIAL/LETTERS TO THE EDITOR van

The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

LEON E. H. DUPUCH, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

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

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

Publisher/Editor 1972-

THE TRIBUNE



Expatriate
volunteerism

EDITOR, The Tribune.

IN CONCERT with the
editor of The Freeport News
(Editorial, March 7, 2007), I






OaAMPs

letters@tribunemedia.net

appreciative manner. When it
comes to charitable work, no
red tape should impede us.

Published Daily Monday to Saturday wish to express my supportfor’ 5. ‘JOSEPH DARVILLE
the enlightening recommen- _/â„¢migration to create a sensi- VP Grand Bahama,
Shirley Street, P.O. Box N-3207, Nassau, Bahamas dations proposed by my col- le, efficient and expeditious Human Rights Association.
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama league in human rights, Mr__ Strategy to handle the expa- Freeport,

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



Tribute to a uniter of Europe

IT WAS appropriate that the European
Union’s 50th birthday party took place in
Germany, the source of so much destruction
in the 20th century, and now, arguably, the
most amenable to the sublimation of self in
favour of a European identity. But the real
beginning of Europe’s U-turn away from
malignant nationalism toward peaceful, eco-
nomic cooperation began in France after the
last of Europe’s great civil wars in 1945.

France’s first postwar instinct — to take
as many resources as it could from a defeat-
ed Germany — proved impractical. Enter
Jean Monnet, the economist from Cognac,
who helped France become "the first Western
country to commit itself wholeheartedly to
economic growth and modernization as a
public policy,” as Tony Judt put it in his his-
tory of postwar Europe.

For France, economic recovery depended
on German markets and raw materials, espe-
cially coal. But if Germany couldn’t be simply
looted, as the Russians were doing, then Ger-
many should be harnessed to the European
plow. If you can’t beat ’em, join ’em, as the
saying goes, and Germany was more than
willing to be joined.

After the Monnet plan, Monnet wrote the
Schuman plan, named for Frénch“foreign
minister, Robert Schuman, which.anhounced
that the entire German coal ‘and steel pro-
duction would be placed under a joint.author-
ity within a framework left open to other
countries to join later. For the newly minted
West German Federation it was “our break-
through,” as Konrad Adenauer said — a
chance to be reintegrated into Europe after
the Hitler years. It was 1951, and the Euro-
pean Coal and Steel Community soon

to me: “Think of the unique experience which
was done between France and Germany
which changed 100 years of hostility. They
even changed the curriculum of the schools.
... We tried this between Egypt and Israel
without success ... .”

Monnet had seen, when he was with the
Free French in Algiers in 1943, that “there
will be no peace in Europe if the states are
reconstituted on the basis of national sover-
eignty .... The countries of Europe are too
small to guarantee their peoples the necessary
prosperity and social development. The Euro-
pean states must constitute themselves into a

-. federation ... .”

His first experience with federation, how-
ever, came when he was sent to London to
coordinate war efforts with the British in
those desperate days when France was falling.
Monnet was an instigator of de Gaulle and
Churchill’s last-ditch efforts to unite Britain
and France into one country to resist Hitler.
The effort failed when Marshall Petain came
to power, but “those days of June, 1940, had
a profound effect on my ideas of interna-
tional action,” Monnet would write in his
memoirs.

Monnet’s love life was nothing if not com-
plicated. He met his future wife at a dinner
party in 1929 when he was 41, and she 22, Ital-
ian, and married only four months to some-
one else. “We forgot the other guests,” he
recalled. They had a child, but divorce was
not possible in France or Italy. They went
to Moscow where Monnet used his influence
to gain immediate Soviet citizenship for her,
which allowed divorce, and they hastily mar-
ried. They went to Shanghai, where he
worked, and had to take refuge in the Soviet

Fred Smith, regarding volun-
teerism and the expatriate res-
idents. At the same time, I
wish to commend the Grand
Bahama Immigration Depart-
ment for the manner in which
it dealt finally with the inci-
dent involving a British young
lady in recent weeks, I became
involved in the matter subse-
quent to her arrest.

Initially, the action taken by
the officers was extremely
frightening for the young lady,
particularly having to spend
the night in lock-up. However,
the following day, after hours
of deliberation, the Deputy
Director of Immigration, Mr
James Rolle, and his senior
officers resolved the matter in
a very equitable and compas-
sionate manner, as could be
attested to by the lady in ques-
tion.

Over the years, in working
extensively in drug counsel-
ing, rehabilitation, education
and prevention, Operation
Hope, had to rely extensively
on a multitude of expatriate
residents, in particular the
wives of men who worked
here on permits. On one occa-
sion we encountered a simi-
lar problem with the Immi-
gration Department. Based on
an erroneous report by one of
our own citizens, who sup-
posed that one of our volun-
teers was being paid, the
department carried out its
investigation and found no
basis for the report. Subse-
quently, we were quickly
granted a letter of approval
for the lady to continue her
critical work with us.

In my humble opinion, it
should be the responsibility of
the Immigration Department
to encourage volunteerism on

triate volunteer programme
in a humane, gracious and

Boun

Grand Bahama.
March 7, 2007.

daries

Commission

EDITOR, The Tribune.

COMMON Cause, as a group, is extremely concerned over
the apparent ‘inability’ of the Boundaries Commission to report
to the nation and Parliament as to whether or not the con-
stituencies are to remain the same or if they are to be reduced

or expanded.

Prior to coming to office in 2002, the new PLP and its lead-
ership were all over the place telling gullible Bahamians what
they intended to do about the timely appointment; convening
and reporting of the Boundaries Commission. Lo and behold,
less than two months before the general elections must be held,
no report has been made and none appears to be on the horizon.

It is a common cause for Bahamians to know, in a timely fash-
ion, where they might be voting and who their potential repre-
sentatives may be. Not so with this PLP administration. They are
so consumed with their ‘fears’ of the Rt Hon Hubert A Ingra-
ham, that they are paralysed. Mr Christie, God willing, is a
one term Prime Minister and the average Bahamian cannot
wait to vote him and his defunct party out of office.

The very fact that the Boundaries Commission cannot seem
to report has much to do, we suspect, with the PLP’s dithering
over its slate of candidates and the dilemma as to how to ‘ger-
rymander’ the current constituencies. We wish to inform them
that no matter what they attempt to do, the people of this
nation are fed up and disgusted with their pantomimes and

‘play /play’ government.

The Hon Leslie Miller, MP, Minister of Agriculture, got a
direct and in your face taste of just how callous and uncaring his
government is. Mind you, he is creased right up with that crew
but, according to Miller, he is getting the run around and the
‘flambay’ which ordinary Bahamians have had to put up with for

the past five long years.

We don’t care how much his colleagues may mouth the walk.
Common Cause will campaign for and support the return of the
enlightened FNM and it’s erstwhile and dynamic leader to high
office. Messrs Christie and crew are totally ‘out of it’ and are so
full of themselves that it cannot be long now.

became “The Six” to include Italy, Holland, consulate for a while when her infuriated the part of spouses whose hus- EDWARD
Belgium, and Luxembourg. Six years later, husband tried to gain custody of the child. bands/wives reside and work EDWIN

the six formed the Common Market with the Not until her first husband died, in 1974, here on permit. DAWKINS Jr
Treaty of Rome, and today the six have could they be married at Lourdes in the eyes Traditionally, but even Niaccat

become 27.

Monnet always regretted that the British
stayed out of his Coal and Steel Community.
But Britain’s eyes were turned toward Amer-
ica and its overseas empire, not to Europe,
and thus the postwar leadership of Europe
was forfeited to France.

One can say Monnet’s contribution to
European integration was more economic
than political, but Germany and France made
an historic effort to actively bury the past.
As the former secretary general of the Unit-
ed Nations, Boutros Boutros-Ghali, once said

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of the church.

I went to pay my respects to Monnet’s
remains in the Pantheon, where a grateful
nation “honours its great men.” It struck me
as ironic that Monnet, who contributed so
much to Europe’s transit from Mars to
Venus, should lie in what my guidebook
describes as “this high altar of nationalism,”
where vivid murals depict France fighting
with all its neighbours, starting with Attila the
Hun.

(This column was written by H.D.S.

Greenway of the Boston Globe -c 2007).

more so now, it has become
nigh impossible to find
Bahamians, willing to dedi-
cate time and resources on a
volunteer basis. Thus, many
charitable organizations rely
almost exclusively on expatri-
ate volunteers to carry out
their work in our communi-
ties.

In collaboration with my
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March 8, 2007.

(The Boundaries Commission has reported, but Bahamians are:
niystified about what constituencies they are now in. And so all
voters are still waiting for directions. — Ed).

Food for thought on
proposed NHI scheme

EDITOR, The Tribune.

THE Bahamas Chamber of
Commerce hosted a wonderful
discussion on the governmen-
t's proposed National Health
Insurance scheme last night at
the BC Hilton.

Speakers included, Stanley
Lalta from the NHI, Nadeem
Esmail from The Fraser Insti-
tute in Canada, Barrie Farring-
ton of the National Coalition
for Health Care Reform, Mon-
ty Brathwaite of Colina Imper-
ial and Conville Brown of the
Centreville Medical Pavilion.

While no new information
was provided by the govern-
ment there was plenty of food
for thought from the other pre-
senters on how the government
can make their proposed
scheme viable for the benefit of
everyone.

Unfortunately Dr Nottage,
the Minister of Health was not
there to present his views
although he was invited.

A couple observations:

1. It appears to this not so
humble writer that Mr Lalta is
probably being used by the gov-
ernment to mouth their political
line rather than stick to the facts
or data. Maybe he does this
because they are still gathering
the data even though they have
already set the premium so now
they have to "make the suit to
fit the cloth"? It would be a
shame if a nice man like Mr Lal-
ta is sacrificed on the alter of
political propaganda.

2. Dr Perry Gomez felt com-
pelled to give us an emotional
plea, with quotes from Martin
Luther King to boot, for the

the only thing they had to cheer
about all night.

- 3, Having sat through a cou-
ple sessions of listening to the
government line on NHI, I must
admit to being frustrated, and
that shows in my body lan-
guage. But the shoe was on the
other foot for the civil servants
last night. As more information
about the lack of consultation
by the government was revealed
and sensible alternative policies
were offered by the presenters,
the NHI and Ministry of Health
team became increasingly fid-
gety. So much so that not long
before the event ended, a Ms
Cartwright, an assistant to the
Minister of Health, actually
"sucked her teeth" and left the
room.

And finally:

4. It would do the officials
handling the NHI Scheme to
remember that the Bahamas is
a democracy and they promised
open and frank discussions
about this very serious issue. To
date this has not happened, and
we are told it might be another
nine months before enough
data is collected for a more
open and frank debate.

As I pleaded with Dr Bald-
win Carey before he left last
night, it is my hope that the
govenrment will at least pre-
tend we are a democracy.

Let's hope that Mr Esmail's
very enlightening presentation
gives the government the
courage to reconsider their
scheme and use a model that
will provide better health care
and a better future for us all —
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poor as if we do not care about
them. This received tremendous
applause from the Civil Ser-
vants in the audience as it was





RICK LOWE
Nassau,
March 22, 2007





THE TRIBUNE

WEDNESDAY, MARCH 28, 2007, PAGE 5



LOCAL NEWS



Congress
considers
cruise ship
legislation

®@ WASHINGTON

MEMBERS of Congress,
hearing horror stories Tues-
day about crime aboard
cruise ships, said legislation
might be needed to guard
against lawlessness on the
open seas, according to Asso-
ciated Press.

Opening a hearing by the
House Transportation mar-
itime subcommittee, Rep Eli-
jah Cummings, D-Md, said
many Americans do not
understand the potential
legal complexities that can
surface in connection with
crimes that are committed on
cruise ships traveling outside
US territorial limits.

Cruise ship operators
announced at the hearing a
voluntary new agreement
with the FBI and. the Coast
Guard to improve and stan-
dardise crime reporting.
According to the FBI, cruise
ships don’t have to report
violations of US law outside
US waters, 12 miles offshore,
but under the new agreement
they would do so immediate-
ly.

Several lawmakers sug-
gested the crime-data report-
ing needs to be mandatory,
not voluntary. FBI and Coast
Guard officials praised the
new steps but described com-
plex jurisdictional problems
because the vast majority of
cruise ships fly under foreign
flags and therefore are not
under US jurisdiction once
they leave US waters. US
authorities cannot often
board them without permis-
sion.

“The jurisdiction issue is
very tricky and a tangled
web,” said Salvador Hernan-
dez, a deputy assistant direc-
tor at the FBI.

ele. e
EXTERMINATORS
Be TRA i) Be
PHONE: 322-2157

Wee ahs

WEDNESDAY,
MARCH 28TH

6:30am Community Page 1540AM
8:00 Bahamas @ Sunrise
9:00 Bullwinkle & Friends
9:30 King Leonardo
10:00 The Fun Farm
11:00 Immediate Response
noon ZNS News Update
12:05 Immediate Response Cont'd |
1:00 Legends: Erington Watkins
2:00 Royal Bahamas Police Force
Conference Centre Opening
ZNS News Update
Battle of The Brain
You & Your Money
A Special Report
News Night 13
Bahamas Tonight
Eye On Health
Labour Speaks
Battle of The Brains
Caribbean Newsline
News Night 13
11:00 The Bahamas Tonight
11:30 Immediate Response
1:30am Community Page 1540AM
NOTE: ZNS-TV.13 reserves th

rea eM eT iticoen as
programme‘changes!

5:00
5:05
5:30
6:00
6:30
7:00
8:00
9:00
9:30
10:00
10:30



Meeting for victims’ families as
murder rate reaches ‘critical’

FAMILIES of murder vic-
tims are to tell their own har-
rowing tales tomorrow at a spe-
cial meeting in Nassau.

Families Against Murder
(FAM) and the Department of
Urban Renewal are inviting all
pastors to take part in the sem-
inar at the British Colonial
Hilton.

The event, beginning at 7pm,
will feature mothers, fathers and
other relatives of murder vic-
tims. They will tell of the enor-
mous impact murder has on
family life — and particularly on
the lives of children left behind.

Psychiatrist Dr David Allen,
Pastor Dale Moss and commu-
nity activist Rex Major are all
listed to speak.

A spokesman said: “The
main focus, however, will be on

the families themselves and
what they have to say about
murder and its aftermath.”

According to Dr Allan, the
commissioner of Urban Renew-
al, the murder rate in the
Bahamas has reached a critical
point and is threatening every
citizen's “basic instinctual need
for survival and security”.

He gave this warning on
Monday at the public launch of
FAM, which was formed in con-
junction with the Urban
Renewal programme to advo-
cate for the interests of, and
emotionally support, murder
victim's family members and
other loved ones.

The group's message is that
relatives and friends of murder
victims need more support from
society, government and their

church leaders, who are on the
whole not sufficiently sensitised
to their plight.

Objectives

They hope that the group will
play a part in changing this, and
have announced several major
objectives, the achievement of

which will be significant steps .

forward in that direction.
“FAM are persons who have
been victims of murders and
persons who empathise with
us,” explained Maria Scott,
founding member and mother
of 31-year-old policeman Mar-
cion Scott who was shot five
times in the head in front of his
19-year-old sister last June. He
had been due to testify at a tri-

al, she said.

At the time of her son's mur-
der, Mrs Scott said she “felt
more pain than I've ever felt in
my life,” and while she and her
daughter have subsequently
received a lot of support, from
Urban Renewal representatives,
and her pastor, Dale Moss, she
questioned how others without
this support network would deal
with their loss and its long-term
consequences.

It was this that spurred her
to form FAM, she explained, as
a means of addressing this iso-
Jation.

e For further information
about the meeting, call 328-
1728/9 or Rex Major at 393-
3846.

i DR David Allen



Runway lighting turned on in Andros and Abacos

M MAILBOAT pioneer Gurth Dean of Sandy Point, Abaco gets
a hug from Prime Minister Perry Christie

EMERGENCY night flights
to South Andros, Moore’s
Island and Sandy Point are no
longer risky business.

-., Runway lighting were turned
on there Monday.evening dur- .

ing commissioning ceremonies
attended by Prime Minister Per-
ry Christie and four Cabinet
ministers.

He told those gathered for
the ceremonies that lighting of
runways was critical to the
implementation of the National
Health Insurance plan to which
the government is committed.

“This airstrip and its lights
have also been put in place to
guarantee accessibility,” he said.





“If someone were to be sick
needing an emergency flight,
«there would be no doubt what-
soever that at any time a flight
could come in and the button
pressed and the lights go on and
you having access, if you heed
it, to the Princess Margitet
Hospital without any effort
whatsoever.”
‘ Also attending were Tourism
Minister Obie: Wilchcombe,
Minister of Transport and Avi-
ation Glenys Hanna-Martin,
Works Minister Bradley
Roberts, Local Government
and Consumer Affairs Minister
V Alfred Grey, South Andros
MP Whitney Bastian, along



_—

Mi PERRY Y Christie gets a bie welcome during his visit to Mangiaye Cay on Monday to turn on the

airstrip lights

with senior civil servants.

The latest installation brings
the number of runways that
have been lighted during Mr
Christie’s administration to 20.

After much research, Mr
Roberts said, a decision was
made to engage Carmanah

Technologies Corp of Victoria,
British Columbia Canada. Car-
manah is an award-winning
manufacturer of solar-powered
LED (light emitting diode) light-
ing, with, in excess of 250,000
units installed in 110 countries.

The Model selected was the

A704-5 at a cost of $2,244,526
plus freight and installation, he
said.

It is the world’s most
advanced solar-powered LED
airfield lighting solution for per-
manent, temporary and emer-
gency applications.

ATLANTIS has been grant-
ed accreditation by the Asso-
ciation of Zoos and Aquari-
ums.

To be accredited, Atlantis
underwent thorough investi-
gation to ensure it has and will
continue to meet various stan-
dards, including animal care,
veterinary programmes, con-
servation, education and safe-
ty.

“Only the very best zoos
and aquariums can meet tough
Association of Zoos and
Aquariums accreditation stan-
dards,” AZA president and
CEO Jim Maddy said.

AZA requires zoos and
aquariums to successfully com-
plete the rigorous accredita-
tion process in order to be

members of the association.
They are required to resubmit
to this process every five years.

“The leadership and staff of
Atlantis are to be congratu-
lated for the hard work and
commitment that they put into
the accreditation process,” Mr
Maddy said.

Chief marine officer at
Kerzner International Frank
Murru said that Atlantis is
thrilled that the resort’s aquar-
ium and marine mammal staff,
its facilities and habitats have
been recognised “by such a
prestigious association as the
AZA”.

“We take pride in the dedi-
cated care we provide for our
marine mammals and over
50,000 marine animals of 250

ro Lun
B ake

WAYNE DALTON



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species and in the education
programmes we share with our
millions of guests to help them
understand these unique crea-
tures. It is exciting to have this
recognised publicly with the
receipt of this prestigious
accreditation,” he said.

Atlantis is currently the
home of world’s largest open-
air marine habitat and Dol-
phin Cay -— a new dolphin
interaction and education
centre.

Dolphin Cay is also the new
residence of the 16 Katrina
Dolphins, some of whom were
swept to sea during Hurricane

_ Katrina from their previous

habitat at the Marine Life
Oceanarium in Gulfport, Mis-
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PPLI iM TION SUPPORT MANAGER - CORE BANKING VII Na ened (Based in Bahamas, |
»pplications te: Nicole M, Griffith (Emall: Nicole.Griffith@firstcaribbeanbank.com)



N et ITIES: QUALIFICATION & EXPERIENCE:
am of Application Consuianiel in support of the Bank’s Core ¢ College diploma or undergraduate degree | in Commerce, Finance or Business
\pplication Systems, fram the initiation phase of requirements Administration plus a minimum of 5 years’ banking knowledge and experience
a. documentation and review, the testing of software fixes and * Broad exposure/experience in problem analysis, problem-solving, and decision-
through to the implementation and production support of the making
* At least 2 years’ experience in managing people
ue testing assignments, which are unrelated to projects and to - * Demonstrated organisational skills with the ability to effectively manage multipie
{| vendor interactions related to the escalation and resolution of activities of varying complexity while under time constraints
id Change/Modification Requests ¢ Experience in making presentations and in organisational communication both
ii the standard methodologies are consistently and effectively written and verbal

* Thorough working knowledge of banking/financial applications both from a
business and technical standpoint

* Strong conceptualisation skills

* Good knowledge of Project Life Cycles and Project Management methodology.

* Ability to manage staff remotely, i.¢. able to lead/motivate and develop staff —
located throughout the region

* Thorough working knowledge of Business Analysis Methodologies



Mires appl plications to: Nicole M, Griffith (Email: Nicole.Griffith@firstcaribbeanbank. com)

yh aguas QUALIFICATION & EXPERIENCE:
lirectional quidance to staff, clients and other areas’ systems * Ability.to motivate staff in a technical environment where creativity i is required .
I, maintenance and support, as well as in business ¢ Considerable knowledge of the technical aspects of business applications ., '
2»n matters of high complexity * Ability to lead/motivate and develop highly specialised staff located throughout
d analyse complex business requirements and implement the region
ly-2 apables solutions to address multidiscipline business Solid knowledge of the assigned business areas
s/problems * Expert knowledge of Information Technology principles, software development,
proactively to the development of the unit’s tactical plans in testing and evaluation procedures and one or more specialised branches of
' business initiatives Information Technology
ectional guidance to staff and assist in the human resource _ © Thorough understanding of project management principles and techniques
iL of staff and the overall efficiency and effectiveness of the ® Good knowledge of banking environment and international standards applicable
when necessary, within a department systems development

* Graduate status preferred with minimum of 3 years’ experience in software -
development, preferably in the financial/banking industry



1 Wey Wer Renner
; ole ations to: Ms, Kimberley Clarke (Email: Kimberley. Clarke@firstcaribbeanbank. com)

ILITIES: QUALIFICATION & EXPERIENCE:
| \'| customer service and call centre operations and performance for —* Bachelor’s degree required; Master’s a plus
! Services _ © Over 10 years of progressive experience in customer care, including call centre,
‘leadership to develop a comprehensive shared customer service collections and customer retention management
‘lure to include call centres and/or multichannel contact centres * At least five years’ experience within the card business. Proven track record in
| istCaribbean Card pertfolio across the Caribbean. markets. effectively running bank operations with wide experience of working towards and
ible for developing, implementing, and optimising strategies to achieving service targets
rid class service levels, promote revenue generation and cost- —* Experience leading a Customer Service function from the ground up with extensive
‘iatives, and instil continuous improvement and innovation management of large diverse groups in multichannel, multiproduct, distributed
fective development of operauietia| teams consistent with the contact centre environments
trategic goals ~ * Knowledge of the political and economic environments and the financial services

industry in the Caribbean region

e in-depth knowledge of Card products and services, including card association
operating rules and regulations, chargeback processes, fraud schemes, and
settlement procedures

* Strong customer relationship orientation with superb analytical capabilities

* Robust project management skills



QUALITY (Based in Barb:

plications to: Ms, Kimberley Clarke (Email: Kimberley.Clarke@firstcaribbeanbank.com)

‘BULETIES: QUALIFICATION & EXPERIENCE:

' for managing the development, performance monitoring, * Bachelor’s degree required; Master’s a plus
‘tion of credit policy, risk and fraud strategies related to credit * Over 10 years of experience in Risk Management in the Card business

i, delinquencies, fraud mitigation, compliance, and card ¢ Detailed understanding of Credit Risk, Fraud, Operational Risk, Business Risk, PC

Security

‘able for legal and regulatory compliance associated with all * Proven track record in effectively running Card operations

tivities. Additionally, this position is responsible for ¢ Experierice in staff management and motivation

J eee and monitoring risk and fraud systems and e Experience in managing third-party relationships

» ensure that the appropriate InHresICEAe) is in place to * In-depth knowledge of scheme operating rules and regulations, scheme security
inage the portfolio regulations, card products and services, card operations, and fraud schemes

¢ Solid communications skills including presentations, writing and negotiation skills

* Knowledge of the political and economic environments and financial services
industry in the Caribbean

¢ Working knowledge of credit-scoring tools



_FIRSTCARIBBEAN

INTERNATIONAL. BANK

“GET THERE. TOGETHER.

SN esd



WEDNESDAY, MARCH 28, 2007, PAGE. 7

THE TRIBUNE



MANAGER - MARKETING & PRODUCT DEVELOPMENT (Base

Address applications to: Ms. Kimberley Clarke (Email: Kimberley. Clarke@firstcaribbeanbank. con

RESPONSIBILITIES: QUALIFICATION & EXPERIENCE:
* Development and implementation of acquisition, activation/use and ® Bachelor's degree required; Master’s a plus
retention initiatives for Card products includirig Credit and Debit Cards ® Over 10 years of experience in Marketing in the Card business
for the FirstCaribbean Cards portfolio across all markets * Be highly numerate with the ability to undertake financial
* Responsible for product management and new product development, analysis/modelling and business case development
and is accountable for the creation of targeted & profitable marketing ® Specialist knowledge of sales and marketing techniques and specific knowledge of
programmes for all Card products including Debit/Credit Cards across all the aclvertising industry
segments, Retail/Corporate & International ¢ Specialist knowledge of product management and new product development!
* Contributes to the long-term profitability of the Cards portfolio through ——® Solid communications skills including presentations, writing and negotiation skilis
the utilisation of tested and measurable marketing management * Ability to produce detailed annual business plans
principles and application to drive successful product ana programme * Creative and strategic thinker
delivery for both new products and customers ® Results oriented
¢ Proven experience in forecasting and costing

|
a am Le el eT acy ties cl teed Ae aes
Address applications to: Ms. Kimberley Clarke (Email: Kimberley.Clarke@firstcaribbeanbank.com) .




|
|
|



RESPONSIBILITIES: QUALIFICATION & EXPERIENCE:
* Marketing and development of both new and existing Card products for» Bachelor’s degree required; Master's a plus
the Caribbean markets throughout all stages of their life cycle, including * Over 5- 7 years of progressive experience in product management/development
product definition, development, rollout, growth, and profitability and marketing, with al least 3 years in Cards
* Develop and execute programmes to forecast and achieve sales, ¢ Demonstrated expertise in project life-cycle management and product
penetrate accounts, establish and grow market share, identify and secure deployment .
partnering opportunities, meet/exceed revenue and profit objectives, and — ¢ Be highly numerate with the ability to undertake financial analysis/modelling and
‘report portfolio performance to senior management business case development
* Strong familiarity with dependency, alpha, and beta testing for pilot and final
product releases
e Solid communications and negotiation skills
® Knowledge of the political and econornic environments and the financial services
industry in the Caribbean region



MANAGER - CHANNEL MARKETING (Bas

Address applications to: Ms. Kimberley Clarke (Email: Kim erley. arke@firstcaribbeanbank. com)

QUALIFICATION & EXPERIENCE:

¢ Bachelor's degree required; Master's a plus

* Highly numerate with the ability to undertake financial analysis/modelling and
business case development

* Specialist knowledge of sales and marketing techniques and specific knowledge
of the advertising industry

* Over 7 years’ experience in Marketing in the Card business

Proven track record in Sales and Marketing with a wide experience of working
towards and achieving targets and sales objectives

* Proven experience in forecasting and costing

® Experience in formulating policies and strategies

¢ Solid communications skills including presentations, writing and negotiation skills

® Creative and strategic thinker

* Results oriented

« Team player

* Strong project management skills

TL edie ema de eee
Address applications te: Anjanette Brathwaite (Email: Anjanette. Srathwalte@tirstcaribbeanbank: com)
RESPONSIBILITIES: QUALIFICATION & EXPERIENCE:
® Coordinate and lead Group in the oreparation of regulatory returns * Graduate and/or Banking/Professional Financial qualifications
* Review and/or prepare accurate and timely returns to the regulators * Prior experience preparing and reviewing regulatory returns
i * Assist the Manager — Regulatory Reporting in redesigning the processes of — ¢ Experience in liaising with inspectors
preparing and submitting reports to the Feguiators to attain maximum - « Good writing and verbal communication skills
efficiency within the department * Sound knowledge of Central Bank guidelines and regulations throughout the
« Ensure integrity in the information submitted to the regulators by region

RESPONSIBILITIES:

* Develop and execute acquisition and activation/use initiatives ior Card
products including Credit and Debit Cards for the FirstCaribbean Cards
portfolio across all markets

« Account for the creation of targeted and profitable marketing programmes
for all card products including Debit/Credit Cards across all segments,
Retail/Corporate & International

* Contribute to the long-term profitability of the Cards portfolio through the
utilisation of tested and measurable marketing management principles and
application to drive successful programme delivery for both n new products
and customers



designing : * Familiarity with international best practices within financial services sector
ad hoc query reports to test the accuracy of information provided and * Familiarity with managing the process of Central Bank audits/inspections
submitted * Extensive knowledge of accounting, the organisation structure and regulatory

reporting
* Management/leadership skills |
® Familiarity with International best practices within Financial Services Sector |
|



Te ee a es

Address applications to: Anjanette Brathwaite (Email: Anjanette. Brathwalte@firstcarlbbeanbank. com)

RESPONSIBILITIES: QUALIFICATION & EXPERIENCE: |
¢ Manage and lead Group in the preparation of accurate and timely ® Graduate and/or Banking/Professional Financial qualifications |
regulatory returns, ensuring that the integrity of the data that is used in the — # Strong analytical skills
preparation is not compromised ® Highly developed communication and organisational skills |
* Manage and coordinate Central Bank on-site inspections * in-depth understanding of Central Bank and Financial Services Commissions |
* Manage regulatory risks through the preparation of weekly and monthly requirements
status reports for senior management review and action » Strong leadership and team-building skills
* Analyse data that is submitted to regulators with a view to identifying ® Strong banking, accoursting/auditing and analytical background |
trends and maintaining regulatory and prudential thresholds ® Familiarity with international best practices within Financial Services Sector
| * Monitor compliance with banking regulations regionally |
|
|
|
|
|

SENIOR COMMUNICATIONS ANALYST - eas a

Address applications to: Nicole M. Griffith (Ermail: Nicole. Griffith@firstcaribbeanbank, com)
RESPONSIBILITIES: QUALIFICATION & EXPERIENCE:
* Participate in the procurement, testing, installation, training, and support of — ¢ Extensive working knowledge of specialised technical field. Relevant skills and
all communications infrastructure needs to support the institution across the abilities normally acquired through a combination of 4 years of education
region beyond high school, plus computer courses in technical specialty and/or
* Participate in the Incident Management, Change Management, minimum of 7 years in a systems field
Configuration Management, Release Management, Availability « Competence in problem resolution and an understanding of the customer
Management, Capacity Management, and IT Service Continuity impact and business needs
Management processes. Key participant in the Problem Management e Exercise some independent judgment and analysis to arrive at recommendations
process or conclusions
* Ensure that all work performed adheres to best practices and ITIL standards ® Knowledge of



Capacity Management, Availability Management, Incident

so as to ensure the end-to-end confidentiality, availability, and integrity of
FirstCaribbean's computer systems environment

* Implement a high level of automation in the infrastructure to meet business
needs in a cost-effective and timely manner

¢ Represent the department in cross-departmental projects where creative
technical guidance in the area of specialty is required

* Participate in CRP exercises and provide CRP script updates when necessary

¢ Develop innovations or improvements in area of specialty that will result in
changes to current methods, procedures and processes

| « Implement changes based on client and customer readiness as well as

systems readiness in accordance with established change management

process

eT pun eae ats Pree - ts
no later al 2nd edo maa Sra

Management, Problem Management, Change Management and Configuration
Management

® Ability io assess risk and reward to prioritise team work and avoid SLA breaches

© Considerable knowledge in Telephony infrastructure including supporting PBXs
and Key Systems

* Comprehensive knowledge of the Time Division Multiplexing, SIP and H323
protocols

« Knowledge of Cisco, Nortel, or Avaya VOIP infrastructures required

e Familiarity with resource monitoring and measuring tools

° Banking processes and procedures and good knowledge of banking products

© {TIL best practices including IT Service Management essentials (understanding
and meeting customer expectations, maintaining service levels)

¢ Auility to assess risk and reward to prioritise team work and avoid SLA breaches

a aT HR OLN UISI51 2.

INTERNATIONAL. BANK®

«GET THERE. TOGETHER.





PAGE 8, WEDNESDAY, MARCH 28, 2007





The long history in our country
of ‘anchor project’ development

TOUGH CALL

-ARRY SMITH

HE so-called ‘anchor
orcoject’ model of

development is a hot-button
tupic these days — critics say
we are selling our birthright to
foreign speculators for a mess of
pottage.

But this model is not new. It
dates back to the early years of
the 20th century. And most
examples in the out islands have
failed, often leaving derelict
buildings and environmental
havoc in their wake.

Although the ‘anchor project’
policy was codified by the Pin-
dling government in the late
1970s, the idea actually origi-
nated in response to the new-
found prosperity generated by
bootlegging i in the 1920s.

uring prohibition, liquor
was profitably smuggled in huge
quantities from the Bahamas to
the United States, and since
West End and Bimini were
nearest to the American main-
land — that’s where the first
out island resorts appeared.

‘Phe 100-room Bimini Bay
Red and Gun Club opened in
1920 with its own power plant.
It employed scores of locals, but
never made a profit. And with-
in:a:few years it was abandoned.

At about the same time, hun-
dréds of square miles on sparse-
ly*populated Grand Bahama
were leased to foreign investors
who were supposed to build a
deep-water port and network
of-Foads at West End. But the
paaject never got off the

giGund.

evertheless, contem-
porary writers
petioved that Grand Bahama’s
proximity to the affluent Flori-
da enclave of West Palm Beach
“simply begged” for a casino
and exclusive residential resort
development:

“Grand Bahama could be the
mecea-of quite a sporting and
yachting fraternity,” a govern-
ment publication enthused in
Raat?





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1931. “Estate developments are
underway (and) developers
have cast their eyes on this fer-
tile island.” But the great
depression put an end to these
early ambitions.

After the Second World War,
tourism was revived by inter-
national air travel. British
investors launched a 500-room
holiday village at West End,
which operated for just one sea-
son before closing in 1950. Iron-
ically, that was the year the gov-
ernment began promoting



by Robex, an American
Express subsidiary, to build a
mega-resort on this property in
the 1980s foundered — but not
until much dredging and land



As our second city, Freeport
has always been something of
an enigma and has never lived
up to its potential, mostly due
to government neglect and
hostility. Nonetheless, it seems
clear that this is where we
should be putting most of our

eggs.



resort development throughout
the islands.

A few years later, the Port
Royale development on South
Bimini got underway with a 38-
room inn, marina, canals and
other infrastructure on 95 acres.
Although construction contin-

- ued in fits and starts, there has

never been any widespread
interest, and many properties
are derelict today.

Port Royale was succeeded
by other developments, but nei-
ther Buccaneer Point nor Bimi-
ni Sands prospered. Meanwhile,
the original.1920s era fishing

camp at Bimini Bay had accret-

ed (through several owners)

‘into a 700-acre estate — com-

prising about two thirds of the
north island. Grandiose plans

moving forward >

clearing had taken place.

(): Abaco, Bahamian
Leonard Thompson

leased 930 acres of Crown land
in 1957 to develop the Treasure
Cay Resort with American
investors. It eventually opened
with its own airport and marina
in 1963; but never took off. Ger-
man-Bahamian investor Lud-
wig Meister bought it in 1982,
and although the hotel later
closed, the marina (with 93
rental units), golf course and
adjoining residential estate con-
tinued to operate successfully
as Abaco’s tourist and second
home economy boomed.

In 1960, six out of seven visi-
tors came to Nassau, but that

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began to change as Freeport
developed. The government had
leased 80 square miles of Grand
Bahama in 1955 to an Ameri-
can in return for construction of
a deep-water port and industri-
al zone. Five years later the
Grand Bahama Port Authority
acquired another 200 square
miles and embarked on a resort
development called Lucaya.

The 1960s were boom years
for both America and the
Bahamas. And according to his-
torians Gail Saunders and
Michael Craton, this led to “the
most rapid phase of land dis-
persion in Bahamian history.” It
also produced huge title con-
flicts— many of which are still
ongoing today.

The Bowe estate on Exuma
was one example. Attempts by
the Bahamian owner to sell
4,000 acres in the centre of
Great Exuma to a Florida
developer led to a complex legal
battle. Eventually, roads were
carved out of the bush for a res-
idential resort subdivision. But
the planned development never
materialised.

“Within 20 years,” wrote
Saunders and Craton in
Islanders in the Stream, “the
Forest Estate had reverted to
bush, except for a dozen scat-

forced to cancel scores of real
estate, construction and com-
mercial contracts, resulting in
zero turnover until well into the
‘90s, when the Ingraham gov-
ernment liberalised the foreign
investment regime.

Although the Pindling regime °

had paid expensive foreign con-
sultants to produce the Family
Island Master Plan recom-
mending development of
anchor projects on key islands,
the economic tailspin caused by
widespread drug trafficking,
official corruption and restric-
tive investment policies, com-
bined with recession in the
United States, meant that vir-
tually no new developments
were being considered in the
late 1980s.

remained in economic
decline until investor confidence
was restored in the mid-90s. It
was only then that we began
hearing renewed talk about
anchor projects.
Unfortunately, the first to
materialise was a new mega-
development at Bimini Bay,

E fact, the out islands

‘whose 700 acres were acquired

by a Miami investor in 1997.
Plans called for extensive devel-
opment on uninhabited, pris-
tine east Bimini, including a 150
slip marina, airport, golf course,
resort centre and high-density
residential estate.

As the Bahamas became a
more desirable place to do busi-
ness — and as coastal real estate
opportunities dwindled in near-
by Florida — new projects got



Rapid and uncontrolled
growth on New Providence has
produced social problems that
include housing shortages, —
pollution, infrastructure break-
déwn and violent crime.



tered new homes occupied for a
few months a year and the areas
cleared, planted and grazed by a
new generation of squatters
from the original settlement.”

he ‘heads of agree-
ment’ for Freeport

_included the right to adminis-

ter, plan, develop and license
businesses on the island — and to
be exempt from all taxes for up
to a century. Critics said the
government had “subcontracted
its responsibility and surren-
dered its sovereignty”.

But Freeport managed to
achieve some momentum. A
harbour, highway and airport

. were built, along with the city

itself. A cement plant, an oil
terminal and other industries
followed, along with hotels, casi-
nos, resort amenities and resi-
dential estates.

The experience of most other
out island developments has
been mixed.

Many came on stream during
the boom years of the 1960s and
early 70s. When Tough Call
worked for the Bahamas News
Bureau back then, one could
travel the entire island of
Eleuthera stopping at resorts
all along the way — from the
Current Club to the Pineapple
Club, to the Potlatch Club, to
French Leave, to Winding Bay,
to Windermere to Cotton Bay,
to the Rock Sound Club to
Cape Eleuthera. Most are now
either shuttered or shadows of
their former selves.

IF 1963 a German investor
(who had been involved
with the Freeport oil terminal)
bought 2500 acres on North
Long Island and opened the
Stella Maris Inn two years later.
The husband and wife team of
Gaby and Jorge Friese have
been running it ever since. A
44-room dive resort with an
adjoining residential estate, it
is one of the few out island ven-
tures to have achieved relative
stability.

But that was not without dif-
ficulty. From a position in the
early 1980s as the main employ-
er on Long Island, the resort
faced bankruptcy after 1983,
when the Pindling government
introduced a restrictive land
sales policy “requiring applica-
tions that would not be
processed.”

As a result, Stella Maris was

underway: Emerald Bay on
Exuma, Winding Bay and Bak-
er’s Bay in the Abacos, a huge
residential resort marina pro-
ject on Rum Cay, a 10,000-acre
residential resort on Mayaguana
and several revived projects on
Eleuthera.

But unlike in the past, this
renewed economic activity in
the out islands generated
resentment and protest from
both environmentalists and
local communities.

Comments by Bimini-based
marine biologist Samuel Gru-
ber, writing in the Bahamas
Journal of Science in 2002,
could easily apply to other
islands: “Vast plans for attract-
ing large numbers of wealthy
visitors to Bimini through large
and ‘appealing’ resort com-
plexes have ended in failure
time and again. Bimini, like
much of the Caribbean region,
is littered with failed and
uncompleted resort projects.”

He added that “only small
resorts that cater to the cus-
tomer appreciative of the local
culture, quiet charm, fishing tra-
ditions, small size and/or natur-
al beauty of Bimini appear to
enjoy any success. Bimini was
never meant to be a five-star,
global destination. Modest facil-
ities have survived when others
such as Robex’s Bimini Bay and
Buccaneer Point have passed
into history, often before they
were completed

“Further, the creation of even
a single mammoth project in
Bimini may destroy forever the
very essence of that which lures
the boating, fishing and diving
enthusiasts.”

(): Abaco, however,
anchor projects dat-

ing from the 1960s do seem to
have helped the island achieve
growth. As historian Steve
Dodge wrote: “Owens-Illinois
and Treasure Cay, the automo-
bile and the speedboat, and the
influx of well-to-do foreigners
who built vacation homes, as
well as poor Haitian immi-
grants, all transformed Abaco.”

(Owens-Illinois ran a logging
operation and sugar cane plan-
tation on Abaco; building roads,
housing, freight terminals and
other infrastructure.)

So where does this leave Nas-
sau — which is over-populated,
congested and suffering from
such a lack of planning and
enforcement that quality of life
issues are reaching unprece-



THE TRIBUNE

x2 ev

+ ak

dented levels? Rapid and.
uncontrolled growth on New '
Providence has produced social '
problems that include housing : ‘
shortages, pollution, infrastruc- ‘
ture breakdown and violent |
crime.

One solution that has béen’
suggested over the years is to:
build an artificial city on Andros '
— either as a new administra- ,
tive capital or a university com- ‘

“plex. But the political will and °

investment involved to achieve |
this would be enormous, and '
the record of both the Bahami- '
an government and similar pro-
jects elsewhere leaves little
room for optimism.

There remains the 50-year-old |
city of Freeport where, as lawyer '
Fred Smith says, we could drop
hundreds of million of dollars to
good effect: “Not on a small cay
in the middle of nowhere; where
there is minimal economic.
impact, where we get nothing in
taxes, where we destroy the envi-
ronment, and where the local
people do not want it.”

(): Grand Bahama
there are miles of

beaches and paved roads; with
infrastructure already in place in
a master plan designed for
300,000 people, including under-
utilised canals, golf courses,
marinas, and an international
airport and harbour. And more
to the point, there is a large
work force hungry for business
and eager to see development
happen.

As our second city, Freeport
has always been something of
an enigma and has never lived
up to its potential, mostly due to
government neglect and hostil-
ity. Nonetheless, it seems clear
that this is where we should be
putting most of our eggs.

But some argue that a. com-
plete change of direction is
required: “We need to go back
to the original template for.
Freeport,” Fred Smith says.
“Government should take a
hands-off approach to the Port
Authority, which should be held
accountable for development
and municipal responsibility. If
we open the doors that were
closed in the late 1960s we will
see an unprecedented boom.
Everything is here.”

According to this view, if
investors want incentives and
exemptions they should be
directed to Freeport, where we
are trying to create critical mass.
The out islands should be
reserved for small develop-
ments and investors should
negotiate directly with local
government authorities.

“Everything doesn’t have to
end up on the Cabinet table in

. Nassau,” Smith says. “If I want-

ed to develop land in Florida, I
wouldn’t go to Jeb Bush in Tal-
lahassee.”

he fact is that big resi-

dential resort develop-
ments on the out islands have
appeared throughout our recent
history — under colonial
authorities, the UBP, the first
PLP, the FNM and the current ~
PLP. But they have been imple-
mented largely without due care
and attention. And most have
failed as a result.

Both politicians and investors
have a lot to learn from this
track record.

What do you think? Send
comments to larry@tribuneme-
dia.net. Or visit www.bahama-
pundit.com

The )

-Way
Test
of things we
think, say or do

1. Is it the TRUTH?

2.\s it FAIR to all
concerned?

3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?

4. Will it be
BENEFICIAL to
all concerned?

www. rotary.org



Ny

| THE TRIBUNE | WEDNESDAY, MARCH 28, 2007, PAGE 9

TST aa
| = ; RBDF Band

hits the
right note
for ‘defining
moment’

THE Royal Bahamas
Defence Force Band held its
first concert, "Our Defining
Moments", on Friday, March
23 at the National Centre for
the Performing Arts on
Shirley Street. The concert
was held under the patron-
age of Cynthia Pratt, deputy
prime minister and minister
of national security. From
left are Commodore Clifford
Scavella, commander of the
Defence Force; Deputy
Prime Minister Pratt; Prime
Minister Perry Christie; and
Joseph Pratt, husband of the
deputy prime minister.




















(BIS Photo:
Raymond Bethel)

i CHOSEN
Dance
Troupe of
Trinity
Assembly
participating
in the
concert.

(BIS Photo:
Raymond
Bethel)

(BIS Photo: Raymond Bethel)

B SECOND
Clarinet,
Woman
Marine
Lashanna
Williams.

(BIS

Photo:
Raymond A
Bethel)



FOR MORE INFORMATION:

Premter Healthy, funwalk@atlantichouse.com.bs



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do the talking!

Atlantic Medical is hosting its ninth Annual Fun Walk on Saturday 21st April 2007 at 6.00 am at
the Montagu Beach Foreshore.

It’s another opportunity to work together for a worthy cause, including your personal Wellness.A fitter you, means

an improved quality of life. Funds for the Walk will once again be donated to The Cancer Society of The Bahamas and The
Bahamas Diabetic Association. Your efforts in 2006 helped raise a $40,000 donation.

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The Bahamas Diabetic Association



PAGE 10, WEDNESDAY, MARCH 28, 2007



WEDNESDAY EVENING MARCH

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

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THE TRIBUNE :.°

=

See

40 |




Let Charlie the
Bahamian Puppet and

his sidekick Derek put og











OY p



some smiles on your

kids’s faces.








Bring your children to the
McHappy Hour at McDonald's in
Palmdale every Thursday
from 3:30pm to 4:30pm during the
month of March 2007.




Enjoy Great Food, Prizes and Lots of Fun.

{T\

i'm lovin’ it





THE TRIBUNE

WEDNESDAY, MARCH 28, 2007, PAGE 11



Identified
FROM page one

the main Barbary Beach
highway.

Inside a burgundy
coloured 1999 Buick Regal,
police discovered the body
of a man dressed in a pait
of jeans and a black shirt,
slumped back in the driver's
seat.

There was a visible injury
to the torso, and the body
appeared to have been dead
for at least 12 hours because
rigor mortis had set in.

Police are awaiting the
results of an autopsy to
determine the cause of
death. Officers of the Cen-
tral Detective Unit are ques-
tioning three persons in con-
nection with the death.

Darold
Miller

FROM page one

that “it is a sad day when a
newspaper said to be as great
as yours would print some-
thing that appears to be a
defaming smear rather than
hard facts.”

In last Saturday's paper
and again in yesterday’ s edi-
tion, The Tribune reported
information that was sup-
plied by the police — namely
that a sexually related com-
plaint had been made by
three women against Mr
Miller.

Although further details
on the matter were conymu-
nicated to the reporter who
produced the story, the laws
governing such matters pre-
vented the printing of this
information.

A senior police officer said
yesterday that officers were
now in the process of inves-
tigating the various aspects
of the complaint and had
already interviewed some of
the women involved in the
case.

The officer said that Mr
Miller will also be inter-
viewed by police at a later
date.

Mr Miller stated yesterday
that “no weapon formed
against me shall prosper and
with the help of almighty
God I shall overcome this
obstacle in the way of my
forward progress.”

Following The Tribune’s
report on Saturday that three
women, who had filed a com-
plaint against Mr Miller at
CDU on Thursday, was
accompanied by a prominent
Bahamian, the Darold Miller
radio talk show was taken
off the air on Monday.

The radio station GEMS
105.9 announced that the
show will not be broadcast
“until further notice.”

ine Id Truck one ei

5 BAY Citas baa
oe PPE SUPE. a

eveloper claims
Ministry ‘victimising’
people who have bought
home lots from him

FROM page one

“It is our responsibility to. Haeward, “The ministry

Ines eN TOM ett

comes to his dealings with the
government and has as a result
been involved in many lawsuits.

“Because of this history Mr
Haeward was asked to pro-
duce certain documents in
reference to the interior lots
and he refused. That’s when
he started talking about suing
government,” the spokesper-
son said.

The spokesperson also
claimed that the ministry has
collected evidence that shows
that Mr Haeward was selling
lots in the area before he
applied for the necessary
approvals to create a subdi-
vision.

HMPA TIN
LRRITICIOMNEN
FROM page one

An autopsy report confirmed






that a combination of drugs,
including methadone, was pre-
sent in his System at the time of
his death.

Representing the interests of
Howard K Stern is Bar
Association president Wayne
Munroe, who is assisted by his
colleague, Mr Anthony Mckin-
ney.

Representing Virgie Arthur,
the grandmother of the
deceased, is Debra Rose, while
Godfrey Pinder represents the
interests of G Ben Thompson,
the reputed owner of "Hori-
zons", the home in which Anna
Nicole lived while in the
Bahamas.

Also present at yesterday's
proceeding was Cara Butler,
who represents Billy Smith, the
father of Danicl. Makaila Sum-
ner is the in-house counsel! for
Doctors Hospital.

The matter, which is before
Chief Magistrate Roger Gomez,
is expected to be open to the
press again at 2.30pm on Thurs-
day in Court 7 in Victoria Gar-
dens.

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protect Bahamians, to pro-
tect the community, so we've
been contacting the people
who were sold lots to inform
them about what ts happen-
ing,” the spokesperson said.

Mr Haeward yesterday said
that he believes the buyers
are being victimised because
of his own litigation against
the ministry.

Earlier this month, he
alleged the ministry had been
blocking his development
plans because of his family’s
FNM associations in the
past. ,

He is suing the ministry
and the attorney general,
alleging breach of statutory
duty, negligent use of statu-
tory powers and a breach of
rules of natural justice.

He is seeking damages,
which, he says, could amount
to $5 million.

Mr Haeward’s subdivision
project is at the corner of
Faith Avenue and St Vincent
Road.

The “internal” area of the
subdivision is now the sub-
ject of a legal wrangle
between him and the min-
istry, but the affected buyers
own peripheral lots that are
not part of the action.

Having bought the lots for
between $60,000 to $80,000
each, the new owners natu-
rally want to go ahead with
development.

But Mr Haeward claims
they are being obstructed in
gaining approval for their
building plans.

doesn’t like it because I push
for my rights, and I’m being
victimised because of my par-
ents’ political affiliations.”

He said there was no title
issue on the land and he had
done “everything by the
book” in applying for subdi-
vision approval.

“I am appealing to the
ministry to help these peo-
ple. All the perimeter lots are
not subject to the court
action in any way. If that
were the case, the lawyers
would not have completed
the transactions.”

He said one single mother
was vacating rented property
in May in the hope of being
in her own home. This was
now impossible, he added.

He also said he was con-
cerned for his own reputa-
tion as a developer, having
been in the business since the
early 1980s.

“TJ don’t sell bum proper-
ties. The title of any proper-
ty bought from my company
will always bear scrutiny,” he
said.

Osbourne Stuart of Adler
Realty and Investments has
written to the ministry ask-
ing why his client Ms Edvern
Thompson had been refused
a building permit even
though title had been
cleared.

And he wrote to Mr Hae-
ward himself disclosing that
he had been told outright by
a ministry official that no
land was being approved if it
was connected with Haeward



zs roy

Blockbuster Industries
Group.

“This whole thing has now
become personal,” said Mr

NEWBOLD BROTHERS
CHAPEL

#10 Palmetto Avenue & Acklins Street
P.O. Box N-3572
Nassau, Bahamas
Tel: (242) 326-5773

FUNERAL SERVICE FOR

GLENDINA
ROLLE-
BISPHAM, 50

of Pinewood Gardens
will be held on Saturday,
March 31, 2007 at 11:00
a.m. at First Baptist
Church, Market Street
and Coconut Grove
Avenue. Officiating will
be Rev. Earle Francis,
assisted by Rev. Diana
Francis. Interment follows in Woodlawn Gardens
Cemetery, Soldier Road.












































Cherished memory will forever linger in the hearts of
her mother, Ocie Rolle; children, Durrall Rolle and
Tateka Lowe-Canter; husband, Ervin Bispham; sisters,
Vandamae Manson, Susan Rolle and Alice Smith;
brothers, Stanford, Willis and Thomas Rolle; son-in-
law, Jermaine Canter; daughter-in-law, Desiree Evans;
brothers-in-law, George Manson and Edward
Richardson; sister-in-law, Pam Rolle; nephews, Dwayne
Rolle, Torino Manson, Bruce Adderley, Akeem
Colebrook, Jarad Rolle, Tony Richardson and George
Manson Jr.; nieces, Shakera Adderley, Tameka Manson,
‘Briesha Smith, Georgette Manson, Briniqua Smith and
Lachea Strachan; grandniece, Brentinique McPhee:
aunts, Anniemae Smith, Beulah, Ladoris, Evelyn, Annie
and Geneva Lloyd; uncles, Raymond, Cecil, Newlon
LLoyd, Nathan Smith and Victor Rolle; other relatives
and friends including, Apostle Genva Ferguson,
Prophetess Jessiemae McPhee, Linton, Gisela and
Phyllis Holder of New York, the management and staff
of Cafe' in the Clouds, staff and doctors of Female
Medical II, staff and doctors of ICU Princess Margaret
Hospital, management and staff of Floyd's Cafe’; also
the following and their families, Sue Decosta, Judy
Rolle, Cinetta Evans, Mary Canter, Deborah Stuart,
Grantly Laing, Ethel Lloyd, Janice Rolle; the entire
McKenzie and Barraterre families; the entire residents
of Pinewood Gardens and numerous family and friends
too numerous to mention.

Relatives and friends may pay their last respect at
Newbold Brothers' Chapel, Palmetto Avenue and
Acklins Street off Market and East Streets on Friday
from 10:00 a.m. to 6:00 p.m., on Saturday at the church
from10:00 a.m. until service time.




Immigration policy
FROM page one

them,” Mr Reginer said.

However, the lawyer concedes that Haitians have been using
fraud as a means of entering the Bahamas.

There are instances where people have been born in the
Bahamas, deported to Haiti and during their time there, died of
malaria. This document then falls into the hands of another per-
son who swaps their identify with that of the dead
child and attempts to use that birth certificate to enter the
county.

Because of instances like this, Bahamian officials find it safer
to assume that every document coming from Haiti is fraudulent.

“We acknowledge that there has been some instances of
fraud but that does not authorise the Bahamian government to
deny others the right to return to the Bahamas,” Mr Reginer

said.

He said that there is no trust between the two governments
as far as documents are concerned and while these documents
can be certified by the Haitian embassy or the Ministry of For-
eign Affairs of the Haitian government, if a document is not cer-
tified by the Bahamian Consulate in Haiti it is not accepted by
the Bahamian government.

“Therefore it is virtually impossible for these people to assert
their rights to citizenship by way of documentation,” Mr Regin-
er said.

The lawyer said that he has another client who has been in the
detention centre for over 22 days.

The man was born in the Bahamas and went to Haiti at the
age of one. The travel document that he carries has not been
renewed since then.

While the legitimacy of the documentation he carries is not in
question, he has run afoul of the authorities because he entered
the country illegally.

However, Mr Reginer said that he had no other choice but to
do so in order to be present in the Bahamas to apply for citi-
zenship in time for his 18th birthday.

“They propose that he goes to Haiti and returns legally. He
has no document that allows him to do that and he cannot
renew the documents he has while he is in Haiti because there
is no one there to renew it.

“He is perpetually frustrated. In these cases you find that the
18th birthday comes and then the 19th birthday so by the time
they get here it is too late by the terms of the Act, to apply for
citizenship,” he said.

Report: man dies of gunshot wound

REPORTS were coming in late last night that Javon Woods-
Hepburn, in his early 20s, died of a gunshot wound on
Carmichael Road yesterday evening.

Early reports suggest that he was cleaning a gun when it
went off. Police are investigating.

Share your news

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

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

KEMP'S FUNERAL HOME LIMITED

22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas

aT

ANTHONY
JOHN AGEEB,
89



























of Nassau, The
Bahamas who died
peacefully at The
Princess Margaret
Hospital on Sunday,
March 18, 2007, will
be held at St. Anselm's
Roman _- Catholic
Church, Bernard Road,

Fox HII], Nassau on
Friday, March 30, 2007 at 10:00 a.m.

Monsignor Preston A. Moss will officiate and
interment will be in The Catholic Cemetery,
Infantview Road, Nassau.





He was predeceased by his parents John and Mary |
Ageeb, two sisters, Gloria and Theresa Ageeb and
his brother, Arnold Ageeb.

























Mr. Ageeb is survived by two brothers, George and
Charles Ageeb; two sisters, Rosemary Ageeb and
Kathleen Winchell; three sisters-in-law, Gloria,
LaVerne and Karen Ageeb; four nieces, E.J. Marie
Ageeb, Lupita Ageeb-Rolle, Angelique Priore and
Michaelene Ageeb; I1 nephews, Jose, Thomas,
Antonio, Bernard, John, Gregory, Ashley, Mark,
Edward, Brian and Christopher Ageeb; nine great-
nieces, Jazmin and Isabella Ageeb-Rolle, Lizbeth
Ageeb, Heather Priore, Stephanie, Rebecca, Dana,
Erin and Jenna Ageeb; eight great-nephews, Shentol
and Jonathon Ageeb-Rolle, Joshua, Thomas, Joseph,
Daniel, Andrew and Jordan Ageeb and Michael Priore
and his co-captain Shelton Rolle.

Tony had a wonderfully soft heart which he hid under
a grouchy exterior. He loved going to the beach and
fishing and loved to play cards. He had a wicked
sense of humour and a sharp tongue and loved to
tease. He could (and often did!) spend an entire day
at Dunkin Donuts shooting the breeze and flirting
with the ladies there. Family was very important to
him and for some of us he was more than an uncle
and he will be deeply missed.

Relatives and friends may pay their last respects at
Kemp's Funeral Home Limited, 22 Palmdale Avenue,
Palmdale on Thursday, March 29, 2007 from 4:00
p.m. to 6:00 p.m.



_\ PAGE 12, WEDNESDAY, MARCH 28, 2007 THE TRIBUNE:



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9:30 a.m. Launch of The Bahamas Learning Channel
Choices Restaurant, ,
College of The Bahamas, Thompson Blvd.

10:30 a.m. Panel Discussion: Choices Restaurant
“Impact of the African Presence in Bahamian
History”.



Hon. Alfred M. Sears , M. P.,
Minister of Education, .
Science &Technology ; Panelists:

Dr. Gail Saunders Director General of Heritage

Dr. Thaddeus McDonald
Dean of the School of Education & Social
Sciences, College of The Bahamas.



1:00 p.m. Commemorative Luncheon / Lecture:
Hon. Grace Naledi Pandor,
Minister of Education, South Africa.
British Colonial Hilton Hotel,
Bay Street, Nassau, The Bahamas.



Hon. Frederick A. Mitchell, M.P.
Minister of Foreign Affairs and 6:30 p.m. Distinguished Lecture:

The Public Service . f .

| Mr. George Lamming, Caribbean Novelist & Poet.
British Colonial Hilton Hotel,
Bay Street, Nassau, The Bahamas.



Cultural Tour: Hon. Grace Naledi Pandor,

Minister of Education, South Africa.

3:00 p.m. Joint Cultural Event with Fox Hill Community
Organization: Service / Entertainment/

| Preceded by -

en eee argc! bape? March led by Royal Bahamas Defence Force

Minister of Education
South Africa ~. Junkanoo Rush-Out





Dr Gail Saunders Mr. George Lamming Dr. Thaddeus McDonald

Director General of Heritage Caribbean Novelist and Poet Desh or the sonect es Euueae
and Social Sciences, COB





WEDNESDAY, MARCH 28, 2007

SECTION



business@tribunemedia.net

Miami Herald Business, Stocks, Analysis, Wall Street



- The Tribune

BUSI









Jibei

HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE

Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010





Hotel concern on Bahamas in market
business decline | access offer to EU

2007 first quarter occupancies down, and ‘considerable loss of
business’ in summer possible due to WHTI and other factors

m@ By CARA BRENNEN-
BETHEL
Tribune Business Reporter

ctel occupancy levels
‘ have dropped for the
2007 first quarter, the

Bahamas Hotel Association said
yesterday, admitting that the
Western Hemisphere Travel Ini-
tiative (WHTI) has been a factor
and that there could be a consid-
erable decline in tourism business
during the summer months.

The BHA’s president, Russell
Miller, said there were challenges
to be overcome, although he
stressed that the Association did
not want to appear as prophets as
doom.

“It is not across the board, but
collectively when you look at it, it
has this slight decline,” Mr Miller

said in reference to hotel occu-°

pancies. “But some hotels have
shown considerable increases and
others have shown some decline,
so overall the picture is that the
numbers are down, but not dras-
tically.”

He noted that while hard to
predict, “we believe there is
going to be even greater impact in
those summer months, when it is
family-related travel. For fami-
lies who are required to have
passports and don’t have them
now, there could be a delay in
that. So although it is difficult to

quantity, there could be consid-
erable loss of business in the sum-
mer months.”

The Tribune reported this year
that a number of hotels had seen
between 4 per cent to 10 per cent
declines in occupancy rates com-

pared to the same priod in 2006, ’

part of the year that is tradition-
ally the busiest for the Bahamian
hotel and tourism industry.

Mr Miller pointed out that the
WHTI initiative had produced a

number of related factors that |
-added to the decline, mainly the

fact that more cruise lines (whose
US passengers do not yet have to
meet WHTI requirements for
passports to return to their home-
land) had discounted their prices
to the Bahamas to shore up initial
softening in Caribbean demand.

Other factors, he said, included
the fact that the US Virgin Islands
and Puerto Rico have seen
increases in arrivals, and have
promoted their competitive
advantage as being part of the
WS;

Certain travel segments will
continue to be monitored closely
by the BHA, particularly Spring
Break travellers, families and
impulse travellers.

Mr Miller said the US State
Department’s recent announce-
ment that it could take at least
10 weeks to secure a passport will
also have an impact on visitor



‘Secret’ Stamp taxes prejudice
environment for business

@ By NEIL HARTNELL
Tribune Business Editor

BOTH FNM and PLP govern-
ments have “secretly and steadily
created a huge revenue base”
through increasing Stamp Taxes
over the past 17 years, a Grand
Bahama Port Authority licencee
told The Tribune yesterday, argu-
ing that the introduction of 4 per
cent Stamp Duty on the assets of
businesses being sold had “preju-
diced the business environment”.

Responding to a report for the
CARICOM Secretariat, which
revealed that Stamp Tax accounts
for a percentage of total Bahami-
an tax revenues that is more than
double that for any other CARI-
COM member, Fred Smith, attor-
ney and partner with Callenders
& Co, described this tax as “a
Trojan Horse” through which the
Government had been able to tax
all form of business dealings and
transactions.

Mr Smith said: “Sadly, our gov-
ernment has been imposing a
huge tax burden on business.
Today, legal practitioners are try-
ing to find all kinds of imaginative
ways to mitigate the impact of
taxation.

“This has a very prejudicial
effect on business. If affects multi-
national asset redistribution, it
affects corporate transactions, it
affects mergers, it affects acquisi-
tions, it affects the international

"reorganisation of companies, it
generally creates a hurdle to free
enterprise.”

In business transactions, the 4
per cent Stamp Tax payable on
the assets being sold during merg-
ers and acqusitions, coupled with
the 10 per cent payable on real
estate and land, added up toa 14
per cent tax, Mr Smith said. Asa
result, “many otherwise sensible
business transactions are not
undertaken”.

“This Stamp Tax is killing the
Bahamas,” Mr Smith said. “In
most other jurisdictions, as the
consideration increases, the
amount of tax payable: decreas-
es, not the other way round.

“Both governments, over the
last few decades, have secrectly
and steadily created a huge rev-
enue base through this concept
of Stamp Duties.”

The August 2006 study for the
CARICOM Secretariat, written
by Eric Hutton, Don Augustin
and Lindsay Hodder, concluded
that the Bahamas’ “exceptional-
ly high reliance” on Stamp Tax
indicated it was looked upon by
the Government as a ‘stealth tax’.

For the period 1990-2003,
Stamp Duties accounted for 19
per cent of total per annum tax



@ FRED SMITH

(FILE photo)

revenues in the Bahamas — a sum
equivalent to 3.1 per cent of gross
domestic product (GDP).

Yet out of the rest of CARI-
COM, the next most reliant
nation on Stamp Duties, when
measured as a percentage of total
tax revenues, is Anguilla at 8.8
per cent, followed by Belize at
8.6 per cent.

And this was before the Gov-
ernment introduced the 4 per cent
Stamp Tax on the assets of busi-
nesses being sold.

“I am glad that the surrepti-
tious and stealth taxation nature
of the increase in Stamp Duties
has been acknowledged and

recognised by independent and

disinterested observers,” Mr
Smith said.

He added that it showed that
while the Government insisted it
had not raised or implemented
new taxes, tax increases were
being imposed on the Bahamian
people.

Mr Smith said Stamp Tax had
“historically been paid on docu-
ments, deeds and instruments”,
not used as a revenue-raising
mechanism. He added that the 4
per cent tax levied on Bahamian
businesses involved in acquisi-
tions “is of a completely differ-
ent nature to the Stamp Tax on
instruments”.

“Every transaction involving
the sale of land, realty, recciv-
ables, goodwill - any sale of any
asset is charged at 4 per cent of
the value, in addition to Stamp
Tax on the instruments,” Mr
Smith said.

Apart from this levy and the
10 per cent payable on real estate,
Stamp Tax is imposed on goods

SEE page 5B

arrivals, as the problem of a sys-
tem backlog is likely to continue
well beyond this year.

He said other factors impacting
the Bahamas’ stopover arrivals
and occupancy decline included a
a softening of the US economy,
the unseasonable mild winter, and
the fact that Cancun - which was
uncompetitive last year due to
Hurricane Wilma - has rebound-
ed and received a $1.5 billion
facelift.

Mr Miller pointed out that
recent changes occurring at the
Cable Beach Resorts, such as the
$80 million conversion of the
Radisson into a Sheraton, had
created a reduction in room,
inventory, which may have cre-
ated buyer reticence as whole-
salers, travel agents and tour
operators became aware of the
construction.

“The rebranding of the Radis-
son property from an all-inclu-
sive may also have had an
impact,” Mr Miller added.

“Whether our first quarter
results are a trend or an anom-
aly remains to be seen. External
factors like the WHTI, the US
economy and competition -influ-
encing these things is beyond con-
trol,” Mr Miller said.

Factors within the: Bahamas’
control include creating an
improved airport; upgrading of
resort properties; value for mon-
ey; improved marketing and pro-
motion; adjustments to the fishing
regulations; a greater commit-
ment to partnership and collabo-
ration.

Frank Comito, the BHA’s
executive vice-president, said the
decline tthat hotels see is not dra-
matic.

“It’s slight. The question is
whether it is a trend and whether
it will accelerate, bul the
Bahamas has seen far worse quar-
ters in its history,” he said.

Stopover visitors are the most
important component of the
Bahamian tourism economy, as
their per capita spend is more
than $1,000 - far higher than the
average $73 per head spent by
cruise visitors to Nassau.

li By NEIL HARTNELL
Tribune Business Editor

he Bahamas submitted
its initial market access
offer to CARIFORUM,

the group negotiating the Eco-
nomic Partnership Agreement
(EPA) with the European Union
(EU), at a meeting in Barbados
last week, sources told The Tri-
bune, with this nation facing sig-
nificant challenges and opportu-
nilies in preparing its laws and
business environment for this and
other rules-based trading regimes.

The precise details of what the
Bahamas submitted to CARI-
FORUM are unclear, although
this nation is secking chiefly to
protect its main exporting indus-
tries to the EU - Bacardi’s rum,
the seafood and fisheries indus-
tries, and Polymers International.

The Bahamas and other
CARICOM nations have the
ability to exclude up to 15 per
cent of their goods, industries and
economic sectors from the EPA
market access talks, preventing
these areas from being fully lib-
eralised and opened to competi-
tion and tariff cuts.

There are essentially three *bas-
kets’ for goods in relation to the

EPA and tariff cuts - those prod-

ucts that will instantly have te
tariffs cut lo zero per cent;

phased basket; and a basket for
excluded items. There are three
time periods over which goods in
the phased basket will have their

- tariffs cut - zero to five years; five

to 10 years; and 20 years - and
these industries opened up to
competition,

A briefing document previous-
ly prepared for the Cabinet said
the Bahamas imported almost $43
million worth of goods from the
EU in 2004, with more than half -
some $23.254 million - confined to
16 tariff lines, nine of which were
duty free. This meant that some
$9.299 million entered the
Bahamas. duty tree.

From this, the Government
worked out that the es
duty the remaining $33.631 mil-
lion could attract was S143 mil-
lion. It has already decided to
trade-off the loss of revenues
from EU imports, which Fred
Mitchell, minister of foreign
affairs, said was likely to be less
than $10 million, in favour of pre-
serving duty-free access to EU

markets for the likes of Bacardi,
Paradise Fisheries and Polymers
International.

The Ministry of Foreign Affairs
had previously recommended
that the Bahamas seek to exclude
from the EPA negotiations cuts in
tariffs on poultry, fresh meat,
fruits and vegetables.

It added that Bahamas tariff
rates between 5-30 per cent
should be cut in the short-term,
while those of 35 per cent and
higher be slashed in a phased,
long-term approach.

But although the Bahamas may

have submitted an initial market
access offer, much work remains
to be done to bring this nation’s
laws, regulations and policies up
to standard and in line with the
demands of a rules-based trading
regime.

For instance, the Bahamas has
yet to develop a competition or
antitrust policy, and does not
have regimes for Rules of Origin,
Anti-Dumping, Countervailing
Duties and Safeguards. These are
all areas that will need to be tack-
led.

Then there is the issue of gov-
ernment procurement and mak-
ing the process of obtaining and
bidding on government contracts.
Currently, all government pur-
chases up to $50,000 can be
approved by the Minister in the
relevant mninistry, and purchases
valued at between $50,000 and
$250,000 approved by the Minis-
ter of Finance upon a favourable
recommendation from the Gov-
ernment’s Tenders Board.

All purchases valued at more
than $250,000 have to be
approved by the Cabinet, and the
Bahamas’ Memorandum of For-
eign Trade regime for 2002
acknowledged that “there is no
bid challenge mechanism in place
in relation to government con-
tract awards”.

In addition, “there is no spe-
cific law governing government
procurement practices”, with all
ministries and agencies able to
“employ any method to select a
goods or services supplier”.

The Bahamas did not make a
services offer to CARIFORUM
during the Technical Working
Group meeting in Barbados,
although it is understood that the
Bahamian delegation that attend-
ed that meeting came away with
both concerns and sights of



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ALL ALL my fimancia

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Lawyer

opportunities.

The services talks have major
potential implications for the
Bahamian financial services
industry, as sources said the
equivalent of a Tax Information
Exchange Agreement (TIEA)
with the EU is being discussed
by CARIFORUM members.

It is likely that the EU will try
to use the EPA talks to ‘suck’ the
Bahamas into its Savings Tax
Directive, a move that would
have major implications for the
financial industry’s competitive-
ness.

The Bahamian financial ser-
vices industry’s needs and
requirements are different from
other CARICOM nations, given
its emphasis on private wealth
management and client base that
features a number of high net
worth Europeans. Many of the
major financial institutions in the
Bahamas are European-owned.

‘As it is part of CARIFORUM,
the Bahamas would be bound to
whatever agreement this body
reached with the EU, and if the
needs of its financial services
industry are not accounted for,
this sector could be badly dam-
aged.

However,.there is also under-
stood to be an opportunity for
the Bahamas to take the lead
when it comes to the EPA ser-
vices negotiations, and it is
thought this might be the best
way to protect financial services.

The Bahamas Chamber of
Commerce, sources said, was try-
ing to organise a Country Con-
sultation for April 25-27, and
invite as many businesses as pos-
sible to discuss private sector con-
cerns and wants on the EPA,

helping to develop a services offer *

for the talks.

The EPA negotiations and
their outcome are critical for the
Bahamas in its future interna-
tional trade talks and agreements,
because if it becomes a full mem-
ber of the World Trade Organi-
sation (WTO), the Most
Favoured Nation (MEN) require-
ment kicks-in.

This means that the Bahamas
will have to treat all nations
equally, providing them with the
same trade benefits and market
access as everyone else. This will °

SEE page 7B





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PAGE 2B, WEDNESDAY, MARCH 28, 2007
Le ee

Protecting tourism from terror threat

s the Romans con-
quered the known
world, one critical

issue continued to follow them
as they expanded their territo-
ries - the ability to retain and
secure their newly acquired
assets.

It is widely agreed that new

acquisitions demand invest-
ment in securing them. The
Bahamas’ continued growing
involvement in the tourist
industry can be compared to
the acquisition of new territo-
ries the Romans gained as they
progressed through central and
southern Europe, even into

The Tribune

northern Africa. Even though
today we face different chal-
lenges, the principles remain
the same.

Before we continue, it must
be emphasised that in this
investigation, Preventative
Measures’ specialty is loss pre-
vention issues and solutions,

Te Le a

= hy
i oe
*§

which for us equates to asset
protection, also known as secu-
rity. Terrorism is the loss agent
as it pertains to this series of
articles. The asset being pro-
tected is the Bahamas remain-
ing a viable tourist destination,
inclusive of investor (internal
and external) interest.

With this in mind, an April
2005 report by Abadie and

Gardeazabal, entitled Terror-

ism and the World Economy,
said that from an economic
standpoint, terrorism has four
major fallouts:

y The capital shock

2. Uncertainty

3: Redirecting resources
to security issues

4, Negative effect on
tourism

If we agree with this posi-
tion, it is fair to assume that
the investor will direct his/her
interest to the region that is
least affected by terrorism.
This, however, is easier said
than done, as the general con-
sensus with terrorism experts is
that the phenomenon is multi-
national and really knows no
borders. This complicates mat-
ters, especially when we con-
sider the fact that just-as the
investor attempts to stay away

from potential high risk areas, _

the terrorist will be attracted
to large-scale investments. An
attack on these locations will
be most beneficial to the ter-
rorist cause or statement.
This not only impacts the

INSIGHT

For the stories

behind the news,
read Insight
on Mondays







decisions of foreign investors,
but also those by the domestic
investor. Additionally, the
small investor such as the indi-
vidual tourist will reconsider
the trip to the Bahamas, so

‘both local and foreign, small

and big, investors are affect-
ed,

Jonathan Essner, in a 2003
paper for the World Tourism
Organisation, called Security
and Development, states that:
“The burden upon a state
managing a terrorism problem
may be enormous, serious and
unmanageable, particularly as
terrorists seem undeterred by
an underdeveloped set of glob-
al norms and international laws
against terrorism.”

This idea is scary, but is this
the reality of the situation? Is
the monster so big and unpre-
dictable that we are going to
be overwhelmed. It has
become apparent that a more
aggressive approach to com-
bating terrorism is necessary, if
we are to be serious about pre-
vention. Three immediate
steps should be taken, the first
of which is to define terrorist
acts specific to tourism.

It is the absence, in my opin-
ion, of a clear, definitive expla-
nation that has left manage-
ment of the threat wondering
around aimlessly. Secondly,
after this is done, we need spe-
cific penalties/legislation that
will codify all actions associat-
ed with the terrorist threat to
tourism. Finally, «an
agency/department mandated
to police this.threat is also

needed. Sounds..a bit..far

RESORY MARINA
THE BAHAMAS

THE TRIBUNE



by Gamal Newry

Safe &
Secure



fetched, you think? J refer you
to the 2000 Financial Intelli-
gence Unit Act. This newly-
formed policing agency was
developed to monitor crime as
it pertains to the financial ser-
vices industry, specifically
money laundering. The ease
by which, in my. opinion, this
unit was formed and legislated
was primarily because of exist-
ing legislation, which originat-
ed from clear local and inter- |
nationally -accepted definitions
of what constituted financial
crimes.

Does tourism need such a
specific unit? If it is the prima-
ry ‘bread and butter’ industry,
then the question should be:
‘Why haven’t we done so as of

- yet?’ Again, it is my opinion

that the global community has
not established a set standard
or perquisites for one to open a
tourist destination. Ironic, isn’t
it, that we are ready to - and
well prepared - to monitor our
wealth and that of our guests,
but not our personal safety nor
that of our visitors.

NB: Gamal Newry is the
president of Preventative Mea-
sures, a loss prevention and
asset protection training and
consulting company, specialis-
ing in policy and procedure
development, business securi-
ty reviews and audits, and
emergency and crisis manage-
ment. Comments can be sent
to PO Box N-3154 Nassau,
Bahamas or, e-mail
gnewry@gmail.com or visit us
at www.preventativemea-
sures.net

Domestic Investment Board
Presents

Ist Annual Trade Show and Expo
Soldier Road Industrial Park
Thursday, March 29, 2007
9:00a.m. to 4:00p.m.

Guest Speaker:
The Rt. Hon. Perry G. Christie
Prime Minister
Official Opening Ceremony »
11:00a.m.

The general public is invited to come and see the wide
array of Bahamian made Products.

Manufacturers wishing to display their products can
contact Mr.Kevin Simmons at Simmons Manufacturing
394-1684 /



Ambitious, hardworking and highly motivated Bahamian
couple sought to run established marina and restaurant
on Rum Cay.

Montana Holdings Ltd owners of Rum Cay Resort
Marina, currently under development have just acquired a sister
property, on the island of Rum Cay. Sumner Point Marina extends
over 26acres across the south eastern corner of the island with docking
for 30 boats up to 160 ft in length, a newly refurbished 30 seater
restaurant and guest accommodation for up to 16 persons.

Responsibilities include but are not limited to:-

e all marina, restaurant and lodging operations;

e Full P+L and budgetary accountability including F+B,
reservations and inventory control.
Oversee all maintenance and repairs
Manage housekeeping of rental villas
Supervision of staff and suppliers.
Co-ordinate Montana client visits to Rum cay
Manage Montana Sales Office on Rum Cay

Skills and Attributes

minimum 5 years prior management in a similar establishment
Excellent marine, general engineering and maintenance skills
Experienced chef or professional qualification in hotel and
catering management

Superb organisational and administrative skills

Extremely computer proficient

Highly motivated self starters who have the will and talents to
operate a challenging business in a remote location with total
autonomy

Remuneration package commensurate with experience, will include
competitive salary and benefits, return flights to Nassau, fully subsidised
accommodation.

Closing date for applications 04/04/2007.
H.R. Manager
Montana Holdings Ltd
P.O. Box N-9322
Nassau, Bahamas

Fax 677 3007





BUSINESS




upemreaep IRAE IES SEA IS CTT REST

Che : Miami Herald |

ARR EDR CI

pis ee



THE MARKETS

STOCKS, MUTUAL FUNDS, 7B

DOW 30 12,397.29 -71.78 W
Sap 500 1,428.61 -8.89 W
NASDAQ 2,437.43 -18.20 W
10-YR NOTE 461 NIC =
CRUDE OIL 62.93 +02 4

Stocks
fall on
weak
housing
data

BY MADLEN READ
Associated Press

NEW YORK — Stocks stum-
bled Tuesday as investors grew
wary when new data raised the
possibility that the nation’s
weak housing market would |
seep into the broader economy
and crimp consumer spending.

: Wall Street has been nervous _
~ lately that a drop in housing val- _
~ ues will further weaken sub-
“prime mortgage lenders, who _
make loans to people with poor _
credit, and make consumers feel _
~ Jess wealthy and rein in spend- _
ing. Consumer spending makes
up about two-thirds of U.S. eco- _
nomic activity. © =

“While the market remains
on the cautious side, there was a
nice little bounce since mid-_
March. Investors are just |
looking over their shoulders, _
wondering if the problems in |
the housing market and sub-
prime market are going to spill —

over,” said Edward Yardeni, |
president of Yardeni Research
Inc. = .
. | The Dow fell 71.78, or 0.58 :
percent, to 12,397.29. Tuesday’s _
selloff put the blue-chip index _
back into negative territory for
the year. ‘
-- Broader stock indicators also
- fell, but remain higher for 2007. _
- The Standard & Poor’s 500 —
- index lost 8.89, or 0.62 percent, _
- to 1,428.61, and the Nasdaqcom- _
- posite index declined 18.20, or _

0.74 percent, to 2,437.43. .
_ Bonds were little changed
‘Tuesday. Investors were weigh-

__ ing the decline in home prices _
- against the specter of inflation, _
sparked by speeches by Fed |
officials Sandra Pianalto and —
‘Michael Moskow, who both |
_ touched on monetary-policy |
issues. s
The yield on the benchmark a
10-year Treasury note was at
4.61 percent, the same as late S
Monday.

The dollar was lower against
the euro and yen. Gold prices
also slid.

Crude oil prices rose 2 cents
to $62.93 a barrel on the New
York Mercantile Exchange.
Gasoline prices have’ risen
sharply in recent weeks, giving
many Americans another rea-
son to keep a tight budget.

Lennar fell 4 cents to $44.50
after reporting that ongoing ©
softness in the housing market
will keep eating into profits.
Other homebuilder stocks tum-
bled on Lennar’s outlook and
the S&P’s home price data; D.R.
Horton, Toll Brothers, Pulte
Homes and KB Home fell more
than 1 percent, and Hovnanian
Enterprises more than 3 per-
cent.

Though the weakness in
housing and manufacturing is
weighing on stocks now, some
say it could eventually give the
market a boost if investors |
believe that the Federal Reserve
won’t raise interest rates to
curb inflation.

Declining issues outnum-
bered advancers by more than 2
to 1 on the New York Stock
Exchange, where volume came
to 1.38 billion shares.

The Russell 2000 index of
smaller companies was down
6.58, or 0.81 percent, at 802.36.

_ Overseas, Japan’s Nikkei
stock average fell 0.90 percent.
Britain’s FTSE 100 edged up
0.01 percent, Germany’s DAX
index advanced 0.43 percent,
and France’s CAC-40 gained
0.19 percent. :



WEDNESDAY, MARCH 28, 2007

TECHNOLOGY

AT&T to introduce
mobile banking

@ AT&T, which is replacing the Cingular
Wireless brand with its own name, is
adding a banking feature to lure
customers from rivals.

BY BRUCE MEYERSON
Associated Press

ORLANDO, Fla. — AT&T’s Cingular
Wireless plans to introduce mobile banking
capabilities with four prominent banks, the
biggest such initiative in the U.S. but still
shy of the industry’s long-discussed goal of
turning cellphones into credit cards.

The deals with Wachovia, Regions Finan-
cial, SunTrust Banks and BancorpSouth will
enable AT&T customers who bank with
those companies to use their cellphones to
check account balances, transfer funds
between accounts and pay bills.

The application, developed by Firethorn
Holdings, will be available immediately for
BancorpSouth customers and later this year
for cell users who bank with the other three
financial companies. AT&T will not charge
customers for the service beyond its data
usage fees.

To use the new service on an existing

AT&T mobile phone, customers will need
to download a program. AT&T plans to
begin embedding software on new handsets
starting in the second half of 2007.

The application downloads account and
bill information to the handset, so users will
be able to view account balances, transfer
funds, and receive and pay bills when their
devices are not connected to AT&T’s
mobile Internet service. If a device is lost or
stolen, the data can be remotely cleared
from the device. |

The AT&T deployment, announced
Tuesday, rnarks a major step forward in a
sector that’s taken years longer than pre-
dicted to take shape.

However, the U.S, market remains a big
leap away from the long-discussed goal of
embedding small transmitters in handsets
for contactless payments similar to the car
windshield devices commonly used to pay
bridge and highway tolls.

Wireless service providers, device mak-
ers and the major credit card providers have
remained at a stalemate over a business
model for how to share deployment costs
and transaction revenues.

U.S. ECONOMY
k





ERIC RISBERG/AP

ECONOMIC ACTIVITY: The New York-based Conference Board said that its
Consumer Confidence Index fell to 107.2, down from the revised 111.2 in
February. The March index was the lowest since November 2006, when the
reading was 105.3. Above, shoppers line up at the entrance to Saks Fifth
Avenue at Union Square in San Francisco.

Consumer confidence falls
amid rising gas prices

@ U.S. consumer confidence declined in
March from a five-year high as gasoline
prices rose and the housing recession
showed few signs of ending.

BY ANNE D’INNOCENZIO
Associated Press

NEW YORK — Consumers sent up a
warning signal in March that rising gas
prices, falling home values and a volatile
stock market could hurt spending in the
coming months, a widely watched index
showed on Tuesday.

The New York-based Conference Board
said that its Consumer Confidence Index
fell to 107.2, down from the revised 111.2 in
February. Analysts had expected a reading
of 109. The March index was the lowest
since November 2006 when the reading was
105.3.

“Apprehension about the short-term
future has suddenly cast a cloud over con-
sumers’ confidence,” said Lynn Franco,
director of the Conference Board Consumer
Research Center, in a statement.

“The recent turmoil in financial markets
coupled with the run-up in gasoline prices
may have contributed to consumers’ height-
ened sense of uncertainty and concern. The
direction of both components over the next
few months bears watching to determine
whether this decline is just a bump in the
road or something more substantial,” she
added.

Economists closely monitor consumer
confidence because consumer spending
accounts for two-thirds of all U.S. economic
activity. Confidence had been climbing,
helped by consumers’ faith in the job mar-
ket.

The Present Situation Index, which mea-
sures how shoppers feel now about eco-
nomic conditions, increased slightly to 137.6
from 137.1 in February. The Expectations
Index, which measures consumers’ outlook
in the next six months, declined to 86.9 from
93.8.

Joel Naroff, president of Naroff Eco-

nomic Advisors, said that a one-month dip
in consumer confidence after a four-month
climb doesn’t mean that shoppers are sud-
denly going to stop spending, but he said it
is a “warning sign.”

“Everything is consistent on the uncer-
tainty,” Naroff said, noting that if consumers
are questioning what is going on, they are
also going to be questioning their future
purchases.

The Conference Board report — derived
from responses through March 21 — showed
increasing anxiety about the stock market
and inflation. Those expecting the stock
market over the next 12 months to decline
increased to 30.7 percent, from 16.7 percent
in February. Those expecting the stock mar-
ket to increase fell to 29.3 percent from 39.9
percent.

Meanwhile, the report also showed that
consumers expect the inflation rate on the
goods they buy to increase by an average
rate of 4.9 percent over the next 12 months,
up from 4.6 percent in February. Franco
noted that such a spike usually is consistent
with an increase in gasoline prices.

The Conference Board report was a bit
sovering for retailers and other businesses
that rely on consumer spending.

The arrival of warmer weather this
month — following an unusually cold Janu-
ary and February — has helped the nation’s
retailers catch up to a slow start to the
spring selling season. But a slowing econ-
omy, particularly a weakening housing mar-
ket, could challenge shoppers.

The latest report on housing, released
Tuesday by Standard & Poors, further
dimmed hopes for a rebound in the market.
Prices of single-family homes across the
nation depreciated in January compared to a
year ago, the weakest results in more than 13
years, according to the S&P housing index.

Meanwhile, there are concerns about ris-
ing gasoline prices. The national average
price for gasoline climbed for the eighth
straight week, according to a government
report released Monday.



INTERNATIONAL EDITION





BRIEFS



SUZI ALTMAN/BLOOMBERG NEWS
OLD VERSION: The new Xbox 360 Elite will have a
120-gigabyte hard drive and will sell for $479.99.
Above, a teen plays on the original Xbox 360.

Microsoft to release
new Xbox 360 Elite

From Herald Wire Services
Microsoft (MSFT) will sell a version of its Xbox 360 with
a 120-gigabyte hard drive and a souped up high-definition
video connection, in a bid to broaden the appeal of its popular

console beyond video games.

Earlier versions of Xbox 360 came with 20 gigabytes of
storage. But that filled up too quickly with movies, TV shows
and games from the Xbox Live Marketplace online store, said
Peter Moore, a corporate vice president in Microsoft’s Inter-

active Entertainment group.

The new Xbox 360 Elite will sell for $479.99. Consumers
who already own the $399.99 20-gigabyte model will be able
to buy a snap-on 120-gigabyte hard drive for $179.99. Both the
new console and the drive are expected to hit U.S. shelves

April 29.
e AUTO INDUSTRY

UAW CHIEF: WE WILL
STRIKE IF NEEDED

Ron Gettelfinger didn’t
mention concessions in his
opening speech to the
United Auto Workers’ bar-
gaining convention Tties-"’
day, but many others were
speaking the word in and
out of the meeting hall.

The UAW president, fac-
ing what many say will be
the toughest contract talks
with the Detroit Three auto-
makers in history, warned
that the UAW would strike
if necessary. “We will do
what we have to do,” he
said. He reassured members
that the UAW would protect
their interests as Daimler-
Chrysler AG places its U.S.

‘unit up for sale.

Among the issues are
health care costs for active
and retired workers, wages,
work rules and the jobs
bank, in which laid-off
workers get most of their
pay.

e AUTOMAKER

DAIMLERCHRYSLER TO
DELAY 1Q RESULTS

Automaker Daimler-
Chrysler AG (DCX), which
is considering what to do
with its U.S. unit, said it will
delay the announcement of
its first-quarter results
because of its changeover to
international accounting
standards.

The postponement also
means the German-Ameri-
can automaker will be
reporting results after it
hold its annual shareholder
meeting April 4 in Berlin, as
rumors swirl about possible
buyers for the Chrysler unit.

DaimlerChrysler said it
would announce results on
May 15 instead of April 26
because of delays due to its
switch from U.S. generally
accepted accounting princi-
ples to International Finan-
cial Reporting Standards.

Shares of DaimlerChrys-
ler rose 2.81 percent to close



at 6192 euros ($82.28) in
Frankfurt, a eee high.

e AIRLINES

DELTA PLANS MORE
ASSET SALES

Delta Air Lines
(DALRQ.PK) expects to
emerge from bankruptcy
protection April 30 with an

“eye on improving customer

service and selling more
assets to build shareholder
value, it said, raising the
possibility it could shed
feeder carrier Comair.

While the nation’s third-
biggest airline did not say in
documents prepared for an
investor conference what
assets it plans to sell, Chief
Financial Officer Ed Bastian
suggested that Delta subsid-
iary Comair could be a tar-
get.

“We will, once we're out
of bankruptcy, look at
whether owning that busi-
ness makes a lot of sense,”
Bastian said at the investor
conference.

e ASIA
ASIA’S DEVELOPING
ECONOMIES SLOWING

Asia’s developing econo-
mies will slow over the next
two years, the Asian Devel-
opment Bank projected, but
the more moderate pace is
seen stabilizing the region
and putting it on better foot-
ing for solid growth in the
future.

Asia’s economy exclud-
ing Japan is expected to
grow by 7.6 percent in 2007
and 7.7 percent in 2008 from
a blistering 8.3 percent last
year, its fastest growth in
more than 10 years, the
Manila-based bank said.
Both China and India, which
together accounted for
about 70 percent of last
year’s expansion, are also
forecast to slow.

“Growth in developing
Asia will ease gently,” ADB
chief economist Ifzal Ali,
said at a conference to mark
the release of the bank’s
annual Asian Development
Outlook report. “This will
ensure that growth will
obtain a more sustainable
level in the years ahead.”



_LATE TRADING

Late

Stock Tkr, oy vou?
SunMicro SUNW 6.06 6.05 -01 112711
Hallibtns = HAL 31.04 3117, +13
SPDR SPY 142.86 142.36

Nasdl00Tr QQQQ 43.99 43.85 14 R791
ClearChan CCU 35.17 35.17 61262
Orthovta. = VITA 2.83 2.83 56818
BrMySq BMY 27.80 27.80 44467
GenElec GE 35.79 35.79 32705
MerL pfL = MERpL 25.07 25.07 27386
HewlettP HPQ 40.23 40.23 272598
Pfizer PFE 25.49 2540 9 26356
EMC Cp EMC 13.61 13.61 24003
Sun-Times SVN 4.93 493 24364

f
s\Â¥
ERI
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BR:

“an
2645
148
3LAl
10.20
19.06
2128
1725
26

Pit

120-2
34. *
10.20

raw

5
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21.28
17.93
2

EAE
#255 BSSSR”

BE

14761

For up-to-date stock quotes, go to wwwAiinediMeraid.cem and click on Business



















INTERNATIONAL EDITION. WEDNESDAY, MARCH 28, 2007 4B _





THE MIAMI HERALD | MiamiHerald.com
S&P 500 NASDAQ vy DOW y 6-MO T-BILLS t < 30-YR T-BONDS 4& +.03 GOLD -1.30 EURO te + CRUDE OIL t» i
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Dow 12468.67 1237.27 2397.29 -71.78 -0.58% A A A -0,53% SprintNex 1886 +14 Moodys Bond Index 5.36 538 -0.02 A A VW 5,47
NYSE NASD DOW Trans. 4909.01 4845.47 4852.60 -56.55 -1.15% A V A 46.41% SPDR 142.86. -.34 oT oe eee Bank Index 11487 11570 -083 & ¥ A 10774
DOW Util. 502.69 498.58 50163 -118 -0.23% A A A +9.82% SPMid 154.99 -.09 PREV 8.25 5. DiCorpBond «199.77 20012 035 ¥ V a 18828
Vol. (in mil.) 2,583 1,651 NYSEComp. 9341.35 9268.24 9288.79 -52.57 -0.56% A A A +1.64% Staples 2619-22 WKAGO 8.25 5.25 . 12-0. .
Pvs. Volume 2,687 1,709 NASDAQ 2450.03 2435.19 2437.49 -18.20 -0.74% A A A +0,92% Starbucks 3172 +23
Advanced 1003 1009 S&P 500 1437.49 1425.54 ° 1428.61 -889 -0.62% A A A +0,73% StarwdHtl n 65.00 -.62 ee
Declined 2292 2013 S&P 400 855.28 848.93 851.20 -4.08 -0.48% A A A +5,82% Statestr 6498 -74 Commodities COMMODITY CLOSE PVS. %CH, %YTD
NewHighs 121 66 Russell 2000 808.88 = 800.62 802.36 «6.58 0.81% A A A +1.87% Statoil 26.80 +22 Unleaded Gas (gal) 2.07 207 © .. +29.2
New Lows 15 50 Wilshire 5000 1456366 14443.54 14474.79 -88.86 -0.61% A A A +1.52% StoraEnso 17.38 = -.09 Crude Oil (bbl) 62.93 62.91 +0.03-+3.1
Stryker 65.52 -.07 Gold (oz) 662.10 66340 -0.20 +42
; 5292 + Platinum (oz) 1242.00 1236.50 +044 +9.0
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AMD 13.50 -.05 CIGNA 145.77 --1.33 EngyTEq 36.92 —-.08 Intuit s 27.55 +18 — Niscan 22.18 -.34 TaiwSemi 1112-31 Euro (Euro) 1.3344 +0013 +.10 1.2704 +.1332
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Aetna 44.72 + CNH Gbl 36.86 -1.69 ENSCO 56.02 -.32 Johnsnctl 94.44 = -.46 ‘ 3 TataMotors 17.50 -.32 +
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Alcoa 34.00 -.17 Cameron 6292 +46 —Expdintls ©4204 ~44 Kinde 52.74. ~-45.-—«=«sNovoNdk ~=— 88.40 -1.38 © Te/MexL_ = 3241 +.55 0 TAN : : ; °
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AllgEngy 49.37 -.08 CIBC g 87.76 +05 ExxonMbl = 75.71 +424 Konic 76.03 +08 Nvidias 29.78 -57 ~~ Jelenor 54.59 -.13. Hong Kong Hang Seng 19706.79 -59.06 -0.30% A VW A= -1.29%
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AlliBern 87.67 $1.71 ~=CPRwyg = 56.36 +.06 oe ae e Kraft 3170 -19 Omnicom 102.34 -.84 Laie ha aH
Allianz 20.64 = -.05 Canons 54.80 -.43 edrDs s 5 “2 Kroger 28,39 -.24 Oracle 18.49 +.10 elus g “
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AlteraCp If 20.94 -.15 CarolinaGp 7330 -30 ‘FirstEngy 66.27 «34 | aby 7213-42 PPG 71.58 -71 levaPhrm 3681 -43 Toronto S&P/TSX 13218.76 -84.12 -063% A A A +2.40%
Altria 85.08 +13 Caterpillar 66.88 +04 Fiserv 5356 -25 LafargesA 3964 +05 PPLCorp 41.14 +109 © ‘Texinst_ «31.22 +.07
Alumina 2338-35 ~~ Celgene «= 53.04 -.96~=—Flextrn. «11.0217 JamRsch © 48,39««+.31=— Paccars: «= 72.99 -2.37 Ua aete ior ASIA
AmBevG "S099 22" *Cemexs 3335.78 ee Sis) 57 sands 88.13. 3.15 ParkHan 8613-06 Fes oD og Seoul Composite 1453.23 43.46 +0.24% & VW A 41.31%
AmBev 53.14 -130 Cemig = 49.05 -.49 iid 785 92 -reggMason 9553-52 Paychex, © 39.70.95 any co 7717-21 Singapore Straits Times 3234.11 +29.56 +0.92% A A A +832%
Amazon 39.37 +36. ChesEng 3108 407 0 LehmnBrs 71.76 «97 PeabdyE = 40.69 615 Sydney All Ordinaries 5952.30 -1820 -0.30% & VW A +5,46%
AmbacF 86.86 -52 Chevron 74.17 + -23 — ‘Forestlab 51.69 58 Jeycnatis 2985 -20 Pearson ©1680 ~-36 = siffany,§— 45.58.05 yey © : : : ;
Amdocs 36.28 +.26 ChiMerc 537.41 = -.79 FortuneBr 78.20 ~—-.36 Level3 6.13 -.09 PennWst gn 30.74 31 Tw Cablen 37.44 -.36 Taipei Taiex 7845.17 -32.65 -0.41% A VW A_ +0.27%
Ameren 50.62 ~.01°Chinalfes* 42.42.66 FranceTel ©2626 =-43 | jpgiobA 32.92 -«-+.31.~=S Penney ~—=s 81.85 -1.09 ©meWarn 20.11.07 = Shanghai ShanghaiB «179.61. +0.36+0.20% + & & & +38.04%
AMovil: 4634 67 ChinaMble 44,84 1.21 FrankRes 12142 -147 Jinglohg «3314. +81 =~ PeopBCT «44.73. +06 «= chmrk = 65.08.33
AMoviIA — 4636-43 ChinaNet «4746 jj, +50 FredMac 6096 1.10 Linglobc 30.42 #.14 PepsiBott 3173-08 Oe tay oe
AmCapStr 44.44 -.35 = ChinaPet_ = 84.21 -.04 le LibMinthn 24.07 -.09 PepsiCo 62.95 -.94 > "
AEagleOs 3051 -12 ChinaTel +«48.99 «4185 «© FresenM = 48.27 ~60 LinvcapAn 10911 03 Petrocg. «(3855 «+5 «—(otalSys, «© 32M7 6 Largest Mutual Funds
AEP 4893-37 ChinaUni «13.34 +28 = Fujiflm = 4122, +05 itiyeyy 53.27 -44—séPetChina’ «11473 -132 «Toyota 131.26 144
AmExp 56.43.» -77~—«Chubbs_-«s51.73 +05 Gallaher 8888-06 Limited ©2657 --21.~—sPetrbrsA = 85.80 1S dag 3384 HT NAV CHG ne NA rfid a
AmIntGp lf 67.59 —-.36 ChungTel 19.86 -.41 Gannett 56.12 +15 LincNat 6830 -.54 Petrobrs 9499 -77 Transocn 82.03 ~—-.02 Vv %RTN ME NAV CHG%RTN NAME NAV CHG %RTN
AREst = 1243468 CinnFin. «= 42.74 26 0 Gap, 17.8107 Lineartch 32.64 26 ——~Pfizer 25.49 -.18 Unaidd BL eT + 0B as Fidelity Advisor Pioneer
AmStand 53.36 -.78 — Cisco 2593-41 Garmins $4.34 73 [JoyatsB 4465-27 PLD «5252-23, Tue, © SDMA ConstellA m 26.75 -18 +27 CapDevO 12.74 -.06 47.1 PioneerA m 4894 -32 +121
AmTower 39.00.60 Citigrp 51.06 -.48 Genentch 82.55 ~52 LgckhdM 98.18 +-24._—s=~PhilipsEI. «38.41. -.29 iat a ers Cent DivintlA m 23.73 -.02+12.6 pytnam
Ameriprise 57.52 -01 ClearChan 35.17 -.27 naa Hes on Loewss 45.48 -33 PitnyBw 45.64 = -.48 Neon 1900 99 Uitralny, == 27.40 -.20 2.2 Fidelity Spartan GrowincA m 20.16 -.11 +117
AmeriBrg 53.30 = --.52 ClearCh 26.49 = -.16 enElec . *. Lowes s 31.74 -.40 PlainsAA 58,52 +.29 UBS AGS 59.4 83 American Funds 500IndxAd 99.10 -.61+11.8 YoyagerA m 18.40 -.16 +37
Amgen 56.21 -93 Clorox 6418 +13 GnGrthPrp 64.35 -122 juyottica © 31.69 -.04~=Ss PlumCrk = 38.61. =i; : : AmcapA m 20.59 -.11 +81 USEqindx! 50.76 -31+118 piversource
Amvescp 23.65 -.52-_—- Coach 50.65 -.24 © GenMills. 57.36 50 tyondell «32.02 «+.45~—S Polo RL. ~—si88.23-1.41 «4 UPMKy = 26.43, -.03 Bal m = 19.11.07 #9.3 First Eagle DivrEqinA m 1301 -.07 +11.3
‘i : -, ; 5 ; : UST Inc 56.93 -.69 — BondA 13.40 -.01 +7.0 GIbA 46.76 -.14 +15.1 oO] :
Anadarks 42.76 +03 CocaCE = 20.09 -.27, | GnMotr 3218.07 atBk © 116.71 -1.21 ~~ PortglTel «13.43 -.14 Heel m 76 -14+15.1 igcpEqa m 5.91. -.03 +10.1
AnalogDev 35.37 -.04 CCFemsa 3597 ~-.12 GenuPrt 49.16 -52 Bia 6583 «38 Potash 15692 -2.08 UltraPtg 52.27 18 CapincBuA m62.06 -.08+19.1 OverseasA m 25.97 ~04+17.0 cong
AngloAm 25.98 -21 CCHellen 41.77 “34 Genworth 35.10 -,05 MEMC 62.58 +28 Praxair 63.77 68 UUniao 89.61 -1.14 CpWidGriA m 42.55 -.08 +183 FrankTemp-Franklin YidPlsSel 9,69 45.7
: : : : taxa! : : UnilevNVs 28.75 +22 EurPacGrA m 47.65 -.08+175 CATFAm 7.36 -.01 +5.6 : es as
Id = * Genzyme 59.70 -1.01
AnglogldA 44.68 -.62 —CocaCl 48.02 — -.13 MGMMir 70.30 --1.30 ~—- PrecCastpt 104.80 +.97 i FundminvA m40.88 -.18+14.3 Fed TFA m 1214 -.01 +5,9 Selected
Anheusr 50.42 -43 CogTech 92.94 -167 Gerdaus 17.82 ~.28 =~ sacerich 91.00 -124~—=s=PriceTRs += 48.11. ««-31—~S«CU levers: 29.45 +.14 544 17 48. ag ae hs b :
: ; jaceric! : i riceTR s ; . UnionPac 100.94 -1.69 GrowAmerA m33.44 -.17 +88 HYTFAm 10.98 .. +66 AmerShS b 46.29 -.29 +11.9
AonCorp 3844 -19 ColgPal 66.47 = -.47 pie es ie Magnalg 75.22 -.51 —-PrinFncl_ ~=—60.30—S-.33 cancel 695 HilncA m 12.72 -.01+113 IncomeA m 272 ..+17.7 T Rowe Price
Apache = 70.05.24 = Comeasts = 26.08. -.22 cee aS 3, Manpwl = 75.03, #12 ProctGam 6327-63 ytdMicro 327 9g -—«(ncAmerA m 20.59 -.06 +16.5 SmMdCpGrA m40.18-22 +7.5 BIChpGr 36.14 -.29 +7.9
ApolloGlf 45.21 -.67. Comcesps 25.72 = -.24 i iB c ; ; Manulifgs 3457 -.13 = ProgrssEn 50.77 -.15 oc 7090 4: MNCOAMA m 33.85 -.15 +124 USGovA m 6.44 .. +49 CapApprec 20.97 -.09 +11.9
Appleinc 95.46 -.39 Comerica 59.86 -.5S GoldFltd = 17.98 = -21 Marathon 102.41 -.15 © -ProgCps 21.96 = -.14 : : MutualA m 29.71 -.16 +13.6 frankTemp-Mutual Eqindex 38.45 -.24 411.5
ApldMatl 1884 -.04 CmcBN). ©3407 «37 ~—« ArcelorMit 52.44 -125 CVRDs 37.01 -59 GoldmanS 209.87 -1.86 = jyarshm == -29.10 = -.70~—SPrudentl ~©=«-«90.60-—Ss -.45 US Cellular 71.64 -.74 — NewPerspA m32.22 -.11+16.4 SharesZ 26.86 -.11+14.9 GrowStk 32.05 -.25 +114
ArchDan 35.93 +03 CVRDpfs 3110 -45 Goodrich 51.81 -29 = arshils 46.75 -.35~=Ss PrudUK =—s«28,78 = -.48 Ussteel S628 447 CO i a ee FrankTemp-Templeton Intlstk 17.18 -.04 +15.1
ArchstnSm 53.51 -.83 CompsBc 68.56 +.03 Google 463.62. -1.38 ~—tyarvellTsIf 17.67 -.33. -PSEG SPB oe Dk: CUIOET 5 OE Sa TRAN MIdED “Haag FOUAm — 13.90 054154 MidCapVa 26.24 -.15 +17.4
Assurant 53.83 -02 CompSci 52.16 -10 Graingr 77.05 ~66 — ijaccg 2780 15 -PubStrg ©9426 1.56 UtdUtils —§ 2943, +.06 Se aMutinvA m3521 214135 Foreals 27.34. +244 MidCpGr 55.80 -.25 +5.2
Astrazen 5404 -.69 ConAgra 2440 -39 © GrantPrde 48.08 1.05 sasetorcdn 10725 -123 Publicis «= 48.74. 0g.~=S«(UtdhilthGp = 55.85 -1.03 AVA MSS.20 fl *15-9 Growth m 25.78 -.08+16.2 NewHoriz 33.65 -15 +17
AustNZ 119.12 = -.13 ConocPhil 69.48 = -.08 GpTelevisa 29.43 -03 — Matsush 2074 +22 ~~ ~PulteH 26.79 “46 Univision 36.21 —-+.06 i Seen aiae World A m 19.56 -.08 +156 Newincome 89 .. +59
Autodesk If 37.76 -28 ConsolEs 38.77 -72 HDFCBk 68.24 -98 — spatte| 2826-47 Qualcom 4263 +.21 UnumGrp = _22.97_—-.30 we 0. +1) Franklin Templeton SmcpStk 35.26 -.25 +57
AutoData 4935 -84 — ConEd 50.96 +.03 HSBC 87.35 ~80 — Maximif 3098 «99 stDia 49.65 “07 VF Cp 82.56 -.21 Baron FndAllA m = 14.05 -.03 +158 SmCpVal 42.83 -.35 +7.1
AutoZone 12868 -34 — ConstellEn 87.55 -33 Hallibtns 31.04 -.33 Mtcpnlds 45.04 -.08 ied 3042 .3g-«NlerOE = 64.90 +.55 Growth b 51.43. -.31 +76 Harhor era. Value 2738 -.16 +14.4
AvalonBay 129.09 -3.13 Coopers 4533-05 Hanson = 81.05 -1.01_ NicgrwH © 63.3326 Qwestm «888 01 NeMHaENY 73.86 #310 A org 154174 jntingtl 6372 344220 tir Avenue
AveryD 65.57 -63 Corning 2308 +18 HarleyD ° 5953 -1.22 wickesson 58.50 +58 Raytheon 52.78 VerizonCm 37.69 +.02 BlackRock ed fees "Value 61.26 -.19 +119
Avon 3749-41 CorusGr «2395-02.» Harman «97.86. ~64 —Medimun 35.39 +78 ~—-Realogyn 29.65 0g ViacomB_= 4090-30 GiobalcA m 18.52. ~04 411.9 Thomburg
F . gy . . VimpelCm 95.88 -.72 woe “e J AdVHLSIA = 22.94 11 +9.7 is
BASF 108.95 +173 Costco 5413-39 HarrahE = 84.20 06 edcoHith 7180 -57 —-ReedElsNV 3527-25 ying Calamos CapAprA m 3824 °-274103 MMtValA m 2925-06 +181
BBATCp 4148-33. ~—«CntwdFn.-««34.71.-153 —-HarrisCorp 50.21 -57 —Medtrnic-—« 48.68 -115 ~—sReedElsple 4745 «4 -a7_~=««VWgnMdah 2602 +19 = Goa m 55.36 -34 -5S CpApHLSIA 54.33 -38+11.9 TWeedy Browne
BCEgn 25.99 +.09 Hartidfn 95.53 69 Mellonfne 43.11 -47_—sRegionsfn 3574-31 WOdafone 27.8308 lumbia DVGrHLSIA 23.11 -13+159 Globval 32.27 -.01 +16.0
BG Grp 7120 <-54 CoventryH 57.19 +57 HithCrPr 3588 -62 : 7 ; ; s Volvo 8274-134 Acoenz 3112 15+ VALIC
: Merck 43.65 42 ReliantEn = 20.64. 12, Vornad corn. 1.12 -15 +103 JPMorgan
BHPBillLt 48.37 -36 CredSuiss 73.21 + -.82 = HealthNet 54.77 -1.08 = Mareserono 22.57 Repsol 3304-59 4 Yormado = «118.85 +184 yey IntrAmerS 2864 -.14+13,0 Stockldx 37.05 -.23 +11.5
BHPBil plc 44.48 -.31 © CrwnCstle = 32.79 -.37 = HSCardDvn 24.81 Merrilllyn 83.94 1.71 RschMotn 137.66 -1.32 aoe 116.99 -148 —intismcap 22.77 11 +24.4 Janus Van Kampen
BJSves 2817 --.24.~«=S Cummins «145.87 -287 HSDiagn —«24.61 Metlife 6377 -45 ReutrGrp 5471 50 Gp 76.74 = -.76 ~—intismCo 20.73 -.11+21.8 Contrarian 18.05 -.04 422.7 ComstockA m19.26 -.11 +13.1
BMC Sft . 3124 -.25 DJIADiam 123.89 -47 HSECancn 22.06 -.62 pets 52.68 -60 ReynAms 6174 +11 Wachovia 55.76 = -.83—IntIValu 24,24 -.12 +26.4 Growlnc 38.78 -.11 +3.2 EqlncomeA m 9.09 -.04 +10.3
BP PLC 64.25 -14 DRHorton 2248 -31 HSETechn 26.18 Microchp 3631 -32—_-Rinker 7179-19) WalMart «47.49 +35 USLgVal «(25.84.14 +15.7_Janus 29.22 -.11 +95 GrowincA m 21.99 -.12 +123
BT Grp 60.33. +.03 DTE 47.83. -.18 HSPatCren 26.99 MicronT 201 +40 RioTinto 297.00 110 Walgrn 46.94 -.36 USMicro 15.96 -.11 +52 MidCapVal 24.82 -.09+14.6 Vanguard
‘ iml + i + : : ‘ ; : WAMutl 41.11 -43 USSmVal 30.47 -.26+10.6 Overseas 47.70 -.35+28.8 599 131.51 -.82 +11.7
BakrHu 66.26 23 DaimlrC 82.67 +1.47 Heinz 46.92 .03 Microsoft 27.72 -.50 RobtHalf 38.60 -.03
BcBilVArg 2439 +05 Danaher 71.66 ~12 Hellnfel 13.61 -.24 = itiogs += 36.19 += +.01.~=S«RockwlAut 60.79 -.44 WsteMinc 34.51 -.64 DWS-Scudder Twenty 56.18 -.32 +132 Asseta 29.11 +15 +12.1
: Danone 34,99 +.07 Hershe 54.42 +23 a : : : * Weathfdint 46.23 -.58 DremHRtEA m50.47 -.29+12.2 John Hancock CapOp 36.72 -.19 +7.3
BcoBrades 40.46 -.26 y Millicomint 76.01 +.56 RockColl 67.65 = -.54 :
Bncoltau 3589 -46 Dassault 53.95 -~04 Hertzn 2335 +57 4 i 2 WellPoint = 81.44.45‘ avis ClsscValA m 27.60 -.21 +10.2 EmerMktid m 24.64 -.16 +19.6
BcoSncH 1797 a Beare 108.63 | -1.80 eee's 5682 +43 Mirant 40.95 +89 RogCmgs 32.45 -51 WellsFgos 34.40 “28 NYVentA m 38.92. -.26 +12.2 LifBal b 14.61 -.05 +10.4 Energy 65.38 -.09 +11.7
Besanchile 5029 32 ° Delhaize ©9390 +159 Hewlett? 40.23 -21 Mitt arson 4030 RoHaas 52.3270 WstnUnn 22.62.01 Dodge & Cox el a 15.02.06 +105 Europeldx 37.44. ~19 +256
a . “ ‘ é ‘Su p 5 . "a
BkofAm 51.84 +28 Dellinclf 23.75 +13 Hilton 36.02 +41 ieahoek 13.28 Rostele 53.00 +37 Westpac 105.45 «95 roe ae ai ey intl ST 45.05 4.03 4234 See re be ao
Bklrelnd 87.26 1.04 DeutschBk 132.76 -.13. Hitachi «7641 +225 ohieTel 5613-25 -RoyalBkgs 5053 +09 © WeyerN «T87-1A_ ict” 45.69 204235 Legg Mason GNMA 10.22 01 #52
BkMontg 6215 +13 DeutTel +1664 += -.18 += HomeDp «37.34 57 ~—MolscoorsB 9352 +26 © RICarb = 42.70 -.33,-«SWhripl_ 85.36 152 cacy” 56.87 804149 OpportnPr m 19.83 -.10 +0 GibEq 2381-12 +19.1
BKNY 4060-35 DevDv «63.00. --33 Honda = 35.79 -35,Monsantos 5445-116 RoyDShllB 66.80 +02 Whole AAOH AD Ecettog ValuePrb 72.32 -43 45.1 Groinc 3667-21 4122
BkNovag 46.73 +18 © DevonE = = 69.75. +49 Honwilintl 46.73 61 Monstrww - 47.49 -.96 —-RoyDShIIA 66.61 +.06 win He ' é ValRestrA 54.25 -.41 +112 Longleaf Partners Growthldx 30.26 -.22 +7.6
Barclay 57.39 1.45 Diageo 79.56 +15 Hospira 39.42 = -.19 Moodys 62.93 -1.57 Ryanairs 44.64 —-.86 ingest: DATS Fidelity LongPart 35.69 -.11+14.5 HYCor 6.26 .. +88
Bard 7977 -23 DiaOffs «80.92 -27 ~—HostHotls. 2645-28 =~ Morgstan 79.47 -90 SAPAG 45.24.43 Wipro 16.37 25 AstMgr50 «16.50 -.06 +85 Loomis Sayles HithCare 147.16 -1.03 +9.8
BarrickG 2891-14 ~—«CiirecTV.«=22.71 +03 «© HuanPwr = 36.29 -82-— Mosaic if, ©2688 © 62.-«SKTiem =—-23.38 15 Wolseleys 2422-84 Bal 20.11 -.08+10$ Bondi 1442 -01+10.7 InflaPro 12.02... +46
Baxter 53.07 +02 ~«—«CDisney «= «34.66. «56 © HudsCity 1369-10 Motorola. 1777~«w.—~=«sSLGreen = 134.95 -2.29 © Woorifn = 73.79.77 BIChGrow 44.29 -.29 +32. Lord Abbett Instldx 130.52 -.81 411.8
BayerAG 61.53 -.01_——DollarG_= 21.14.01. = Humana = 59.45 -129 Murpho. 5.28 «= -51-«=SSLMCp 41.28 -.06 Wrigleys 50.94 -.45 = CapApr = 27.78 ~.23 +85 AffiliatA m 15.37 -.09+115 InstTBdld 50.52 -.05 +6.0
Bearst 148.86 -231 Domes 8912-21 ‘HutchTel°~«29.40«-41_—«sNcRcp. «4874-56 ~«=«STMSTech «5592 © -16 Wyeth 49.77 -94 — Caplnc 9,05 -.01+412.5 BondDebA m 8.10 -.01 +96 InstTStPl 31.16 -.20 +117
BectDck 75.33 -.01 DonlleyRR 36.55 +.04 WAC Inter =: 38.64 +16 ec 5.26 “02 STMicro 19.49 +35 Wyndhamn 33.78 = -.82 ee yt = ae MidCpValA m 23.14 -.07 +13.8 Intigr 24.56 -.14 +19.0
BedBath 40.15 -30 Dover 48.67 -11 ICICI Bk 39.55 -1.20 NII Hldg 74.85 +41 Safeco 66.66 “44 Wynn 98.01 -2.92 Bees 31.91 7 497 MFS IntlVal 41.66 -.24+19.1
Berkleys 33.08 +21 DowChm 4671-37 ING | 4194 -44 wisgrps 5.88. -#.05 = Safeway = 3681-71 XL Cap 10.15 99 cintl 38.03 08 +166 i m os 706 +111 LifeCon 16.78 -.05 +9.4
BerkHaA 108300 +100 | DuPont © 4981 -155 iShlapan 1476-06 pcre 7a7e +71 Stlude «38.43. tg XTOENgy S467 H0L Eoin 585] 294152 Valued m 27.45 -15 +168 LifeGro 24.33. -.13 +126
keEgys 2031 +12 | : gy : : : . XcelEngy 24.59 +.05 : Marsico LifeMod 20.73 -.09 +11.0
BerkH B 3605 +2 DukeEgys 20.31 iShDJDv 71.84 07 SanDisk 44.80 02 Eqinc Il 23.78 -.14 +10.3 :
. : NTTDoCo §=—:18.37_—-.12 Xerox 17.24 +05 Focus b 19,39 -.23 +5.0 MidCp 20.79 -.11 +119
BestBuy 49.17 -.55 ETrade 22.57 11 iShSP500 = 142.99 -.43 + Sanofi 43.12 — -.20 et FF2040 9.72 -.04 +10.6
; 4 : NYMEXn — 136.00 80 Xilinx 25.98 -.32 ideli 36.70 -.22+11.3 Morgan Stanley Instl Morg 19.35 -.12 +81
Biogenide 45.14 -50 E.ON AG 4482 +11 iShEmMkt 116.33 30 NYSE Gr 93.60 +1.86 SaraLee 16.79 -.07 Fidelity i 7 3 intl
. : fi Pp B 5 YPF Soc 41.48 -.20 Free2010 14.93 -.04 +8,6 IntlEqA 21.41 +.01 +193 MulntAdml 13.33 -.01 +4.8
Biomet If 42.40 -.03 eBay 33.33 +11 iShEAFE 76.19 -.34 Sasol 33.00 +.30 j
i Naborss 31.00 -.01 Yahoo 31.55 -.11 Free2020 15.89 -.06 +96 Neuberger Berman Pacificld 13.07 -.11 +12.0
BlackRock 15857 -96 EMCCp 1361 ~05 iSRIKVnya 8350 -.31 : Satyams 2292 -4l . ;
: Nasd100Tr 43.99 31 YumBrds 58.35 -.47 Free2030 16.43 -.06+10.4 GenesisTr 50.04 -.20 +6.8 Prmcp 69.57 -.41 +63
BlockHR 21.10 -.45 ENI 63.62 = -.30 iSHR2K nya 79.63 = -.39 SchergPl 25.00 -14 : . ‘ ’ -.35 +22.9
: Naspers 24.85 +.01 Zimmer 85.77 -.46.~—S«GovtInc 10.09... +5.3 Oakmark REITIdx 26.08 -.35 +22.
Boeing 90.52 -31 jEOGRes 7197 -51 ITTCorp 60.82 — -.37 . Schimb 69.86 +.28 : : : . :
NtAust 163.20 -1.44 rg ZionBep «85.41. «84 «= GOWCo— 70.05 -.37 +4.2 Eqincl 26.71 -.06 +123 STCor 10.61... +6.0
BostProp 115.78 -1.27. ~~: EKodak 23.16 +05 ITWs 52.04 -41 wekcreece 10.87 -10 Schwab 1860 -.19 ° , Growinc 31.36 -.21 +7.5_ Intl! 26.63 -.11+24.6 SelValu 21.95 -.08 +20.6
Eaton 84.04 -1.05 ICI 39.54 +.05 ScotPwrn 62.68 +.03 Hilnc : 9.13... +10.2 Gakmark 46.02 -.25+13.8 SmCapldx 33.81 -.24 +82
IntBon 1032... +58 Select | 33.00 -.17 +87 Star 21.34 -08 +9,7
rT tos k h hee se - ey Oppenheimer StratgcEq 24.85 -.16 +10.5
nvGr 39 ~01 +62 CapApA m 47.64 -.33 +6.7 TgtRe2015 12.72 -.05 +10.8
orontoStockExchange LevCoSt 3116-16 +16.4 DevMktA m 41.82 -.28+16.3 Tgtet2025 13.32 -.07 +118
Name Last Chg Name Last Chg Name Last Chg Name Last Chg Name Last Chg Name Last Chg LowPriStk 44.71 -.22+12.0 GlobA m 74.50 -.37 +113 TotBdld 10.03 -.01 +6.0
ConjuChemBio .74 -.21 FarallonReso 59 .. + CaledoniaMng .14 -01 SthAmerGldo .04 ... ~— EldoradoGld = 6.98 -.12. ~— BCE Inc 30.07 -.02 Magellan = 91.95 -.61 +5.1 MainStrA m 41.09 -.22 +10.2 Totintl 18.35. -.11 +209
ProExEngy 15.05 +.17 BKNS 54.00 -.10 TalismanEgy 20.16 -.24 CAE Inc 13.15 05 RioNarceaGld 4.50 -15 LionoreMng 19.14 -.15 pea an a Be RocMuniA m 18.81 ~02 +7. Totstidx 34.56 -.22 +115
Corrientes 3.28 +53 AlamosGoldo 7.39 +.02 — FirstNickelo 1.23 +05 —KinrossGold 15.99 -.11 —PacificStrts 9.39 +.78 Goldcorpinc 2874 -5S2 —Gverseas 46-29 cOB-+1/ 9 COGuNtIMU m1.82 TR Wellsl 22.08 -.05 +11.6
TVIPacifico 17. +.01' | YamanaGldo 16.65 -.22 BoursedeMont 46.15 +1.15 ManulifeFin 40.04 -.30 RogersCommB 37.47. -.79 HudBayMnrls 20.82 -.50 Puritan 20.29 -.07 +124 ee : SO Welltn 32.63 -.13 +124
BluePearIMng 11.63 -.43 AbitibiCons 3.23 --.03~—EasternPlat ~©—-2.04--.01 += MegaUranmo 6.25 +.10 | MolyMnsOrdo 3.00 -.13 LegacyHtlsUn 13.30 -.13 Reallnv «37.51 -.48 +23.0 sia iia ie ae 18.85 -.13 +145
NortelNetwork 2861 +57 TriVisiono 1.66. +44 —VictoryNklo «75. +06. © BombdrBSV 4.61 +.03 —ISharesCDNGO 75.74 -.77 ATSAutoTing 850 -99 ShTmBond 888. +5.1 Compinsti 1444 401 47.7 “dst! «= 3542-16 #154
NeoMatTech 3.70 +.13 CdnOilSndsT 28.84 +.39 BirchcliffEng 4.19 +.26 NorOriono 4.68 -.09 CnstltnCpro 1.44 i PaladinOrdo 881 -.11 SmCapStk 19.88 -.03 +4.2 | oworis 9,96 \ +5,0 Wester Asset
CenterraGld 10.60 -39 RoyalBnk 5847 -.17 GtLakesCrbn 13.93 -.32 CampbellRes 13 -.01 GabrielReso 4.27 -~-.08 —AurelianReso 29.90 +3.80 © USBdindx 10.92 -.01 +61 RealRet 10.93... +45 CrBdinst 11.39 -,02 +7.5
Dynatec 332 +03 UTSEngyCorp 4.05 -.04 PetroCanada 44.55 -.07 EqnoxMnrlso 2.23 -.05 —YellowPgsUn 13.73 +.03 EnCanaCorp 58.86 -.10 Value 84.88 -.47 +143 TotRetls 10.45 -,01 +5.7 CrPIBdins 10.59 -.01 +7.9

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THE TRIBUNE



New Atlantis resort to
boost tourist marketing

First quarter occupancy decline may have been aided by weak marketing effort, with
Bahamas not getting expected results from Ministry's Bahamavention campaign

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter



tremendous exposure when the Cove at Atlantis, the

resort’s new 600-room all-suite hotel, has its soft opening
today, boosting a hotel industry suffering from a 2007 first quar-
ter occupancy decline.

Members of the Bahamas Hotel Association (BHA) yesterday
said that one of the contributing factors to the visitor decline may
have been a weak promotional effort by the Bahamas, particularly
with mass media targeted marketing.

Peter Webster, general manager of the British Colonial Hilton,
said tthe BHA is prepared to extend its passport reimburse-
ment programme to help drive room sales and occupancies dur-
ing the summer months.

“With the Cove (at Atlantis) opening, I do not think we should
underestimate the kind of media and PR that that is going to col-
lect. The Cove is a phenomenal product, like nothing the
Caribbean has seen, and I think there will be a lot of positive PR
from that,” Mr Webster said.

He added that the Bahamas had not been painted negatively in
the whole Anna Nicole tragedy and subsequent media coverage.

“The Bahamas is mentioned all the time, and we are prominent
in the US mind. So when you take into account the passport ini-
tiative and the Caribbean, more people will be coming into the
Bahamas through the almost subliminal advertising through
Anna Nicole, but also through initiatives such as the Cove, and
we stand a better chance than a lot of the other islands in the
Caribbean without having to do new campaigns,” Mr Webster
said.

“T don’t think we have seen the results come in for those ads as
we expected,” president Russell Miller said of the Ministry of
Tourism’s Bahamavention campaign.

He added: “We’ve done a lot of marketing on the Cove, and the
fact that Bobby Flay is opening his first restaurant outside of the
United States tomorrow when we open the Cove. So I think
that there are a lot of encouraging signs of turning things around.”

Te NASSAU /Paradise Island destination should receive

‘Secret’ Stamp taxes
prejudice environment
for business







@ THE Atlantis resort, Paradise Island
(FILE photo)

NOTICE

NOTICE is hereby given that CHRISTOPHER C. HEWITT
OF KEMP’S BAY, SOUTH ANDROS, 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 28th day of
February, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



NOTICE

NOTICE is hereby given that ROSELIE ST. CHARLES OF
PALMETTO POINT, ELEUTHERA, 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 2ist day of
March, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



FROM page 1B

ally at a rate of about 7 per cent -

and on cheques and other forms

of instruments and payments.
Mr Smith also suggested that

goods being sold ran afoul of the
Hawksbill Creek Agreement
(HCA).

He said a Supreme Court judge
had ruled in a case that he liti-
gated and won that Stamp Duties
were not to be levied on the
importation of goods by Port
Authority licencees.

However, if such goods were
involved in the sale of a business,
they would be required to pay
Stamp Tax on these products.

Businesses had previously com-
plained that the 4 per cent Stamp
Tax levied on the assets of busi-
nesses being sold effectively acted

as they had already paid duty on
goods imported for their business
at port of entry. Mergers and
acquisitions costs have been
raised, too. :

Cash and bank accounts are
not included in the-4 per cent

companies with a turnover of less
than $500,000 per annum and
businesses that are non-resident
for exchange control purposes are
excluded.

“Traditionally, to fit the defin-
ition of being a Stamp Duty the
charge being levied should some-
what reflect the cost of the service
being provided,” the CARICOM
study said. “For example, a stamp
duty charged by a land registry
on the transfer of property should
reflect roughly the cost of assist-
ing in the transfer of the property,
such as performance of the title
search, adjustment to land records
etc.

“Tf a so-called stamp duty were
to be significantly in excess of the
cost of the services being provid-

Old Fashio

Come to the
Bahamas National Trust’s

Day of fun, creative learning
activities and entertainment
for the whole family!

Saturday, March 31,2007 _
11am to 5pm at the Retreat Gardens
National Park, Village Road
Admission: Children -

Activities and exhibitors include:
Bahamians artisans, craft vendors and small businesses

Delicious Food & Beverages, Children’s Crafts

ned Games area: Top Spinning: Hoola Hoop; Hop Scotch;
Jack Stanes; Marbles

12 to 3:00pm - Wildlife Education and Exhibition by Ardastra Gardens Zoo &











$2 Adults - $5

Conservation Centre





WEDNESDAY, MARCH 28, 2007, PAGE 5B

i aa is
_INSIGHT

For To stories behind the news,
read Insight on Mondays

Job Opportunity
Software Trainer

Are you an energetic Motivator,
an Excellent communicator with a passion
to work with a professional Team?

If we've piqued your interest, Let’s Talk!

Skills required:
e A Bachelor’s Degree in Finance

¢ Minimum of five (5) years experience in
finance company management

Minimum of five (5) years experience in the
consumer purchase lending industry

Minimum of three (3) years experience in
the use and training of EnCompass and the
ability to train a team of at least 10 people.

Proficient in IBM DB2 file query utilities
¢ Working knowledge of Microsoft Office

FURNI



’ @ Limited



Furniture « Appliances ° Electronics

Please submit your application by Mail to:
Director of Human Resources, The Plus Group
P. O. Box N713, Nassau, Bahamas

or eMail: jobs@theplusgrp.com

We thank all applicants, however only those
selected for an interview will be contacted.

FP545



ed, the amount in excess is taxa-
tion........... Given the anti-tax
environment within which the
Government operates, it is easily
imagined that the Government
might have been forced to adopt
stealth tax policies in order to
address revenue needs.”

INSIGHT

For the stories

behind the news,
read Insight
on Mondays










1.00 to 3:00 pm - Starbucks Coffee Tasting

Educational Talks and Adult Crafts and Gardening Workshops under the Godfrey Higgs Pavillion

11:30 am Native Plant Propagation with Shenique Albury
12:30 pm Sustainable Gardening with Tim Bethel of Terrain Design

1:30 pm Creating Herb Garden in a Strawberry Pot by Nassau Garden Club

2:30 pm Tile Art create a fun piece out of tile and sea glass

3:30 pm Create your own Stepping Stone facilitated by Kaethi and Hans Pieter Schaerer
4:00 pm Canine Agility Demonstration featuring the Bahamas Dog Agility & Obedience









Sponsored by: Kentucky Fried Chicken, Burger King and Quiznos.
|







2 UBS

UBS (Bahamas) Ltd. is one of the world’s leading ~
financial institutions in the Caribbean. Our Business
Area Wealth Management International looks after
wealthy private clients by providing them with
comprehensive, value enhancing services. Our client
advisors combine strong personal relationships with
the resources that are available from across UBS,
helping them'provide a full range of wealth management
services.

In order to strengthen our team in Nassau, we are
looking to fill the following positions:

Caribbean Desk Head / Client Advisor

The position holder will be responsible leading the
Caribbean Desk in Nassau, Bahamas or become a
client advisor on the desk. This includes supervising
of day-to-day activities and financial results, monitoring
market conditions, and assessing risk. The position
holder has the task to identify new prospects and build-
up the corresponding relationships. S/he works closely
together with product specialists for analysing client
needs and developing, marketing and implementing
tailor-made investments strategies and solutions. The
acquisition of new clients will be a main focus.

The candidate will provide input to senior management
regarding client segmentation and marketing strategy
for his/her region. S/he will assist in the process of
building and developing key accounts, leading this
process where appropriate. S/he maintains a direct
relationship with clients resolves and escalates client
issues arising from the team.

The position holder is accountable for the
implementation of operating policy and standards.

equi mouts for this position include:
Minimum 5 years experience and a proven
successful track record in Wealth Management

e Minimum 5 years experience in client acquisition
and relationship building

e Outgoing and personable with great social skills.

In this position, the successful candidate will be
expected to:
Use communication and negotiation skills to
attract new clients and identify client needs
e Meet with clients and potential clients in social
settings
e Travel to meet with clients and potential clients

Senior Client Advisor & Client Advisor
Latin America

In this challenging position you will be responsible for
acquisition of new and advisory of existing clients, as
well as presentation and implementation of investment
solutions in the client’s mother tongue.

For this position we are searching for an individual who

meets the following requirements:

e Extensive experience and a proven track record
in Wealth Management

e Specializing in the fields of Customer relations,
investment advice and portfolio management.

e Excellent sales and advisory skills as well as solid
knowledge of investment products are key
requirements. Fluency in English, Portuguese
and Spanish is essential.

Interested? Written applications should be sent to:

hrbahamas@ubs.com UBS (Bahamas) Ltd.
Human Resources
P.O. Box N-7757
Nassau, Bahamas









PAUL UD, WEUINCOVAY, VIANUN 28, ZUU/



= ) FIDELITY

With origins in The Bahamas since 1978 and in the Cay man Islands and
the Turks and Caicos Islands since 1980, Fidelity is a financial services
group offering a comprehensive range of insurance services, domestic
and intemational banking, estate planning, pension services and corporate
finance as well as other financial products and services. Fidelity is now
inviting applications for a:

Director Corporate Banking

THE TRIBUNE



Government ‘encouraged’ St

Georges to push for 75% trial

m@ By NEIL HARTNELL
Tribune Business Editor

THE Government has
“encouraged” the estate of the
late Edward St George to push
for a Supreme Court trial on Sir
Jack Hayward’s claim to 75 per
cent ownership of the Grand
Bahama Port Authority (GBPA)
and Port Group Ltd as a first step
to resolving the dispute between
the two parties, the estate has
alleged.

An affidavit sworn by Anthea
Parris, an attorney with Callen-
ders & Co, who is representing
the St George estate in the legal
battle with Sir Jack, said a solu-

tion to the two sides’ differences
would be impossible until the dis-
puted 75 per cent ownership
claim was resolved.

Ms Parris said: “The plaintiffs
have been encouraged to seek the
trial of the ownership matter as a
preliminary issue by the Govern-
ment, who appear as amicus curi-
ae [friend of the court] in this
action. The plaintiffs understand
this is because GBPA is a quasi-
governmental authority, and
there is thus a public interest in
the determination of its ultimate
ownership.”

She alleged: “Until the ques-
tion of ownership of Interconti-
nental Diversified Corporation

[the holding company for the
GBPA and Port Group Ltd] is
determined, there is no realistic
prospect of the action being set-
tled.”

The St George estate is seeking
the trial of Sir Jack’s 75 per cent
ownership claim as a preliminary
issue, alleging that until this is
determined, a solution to the dis-
pute - likely to result in one side
or a third party buying out the
other - will not be possible, since
no one will know whether it is a
75 per cent, 50 per cent or 25 per
cent stake that is being bought.
This makes it impossible to set a
price.

Two separate attempts were

made by Sir Jack to acquire’ the St
George estate’s interest in‘Inter-
continental Diversified Corpora-
tion, and by extension the GBPA
and Port Group Ltd, the first on
his behalf, and the second on
behalf of Seashells Investments, a
company that he wholly and ben-
eficially owns. :

“Neither of these offers can be
taken forward for the very simple
reason that the extent of that
interest remains unresolved and
in dispute,” Ms Parris alleged.

Reporting directly to the President, the successful candidate will have the
following minimum require ments:-

FOR RENT
PARADISE ISLAND

Luxurious harbour front Penthouse
Residence with spectacular views of
Nassau and its Harbour:

Bachelor Degree in Business, Banking or Finance

An MBA qualification would be an asset

5 years experience in intemational credit markets

10 years commercial credit experience at a managerial level
Comprehensive understanding of structured financing solutions
Strong financial and business analysis skills

Exceptional written and oral communication skills.

; e 5,000+ sq ft. total area
Proven record of delivery of presentations

e 4 Bedrooms with 4.5 baths

e Master bedroom with dressing area, Jacuzzi
and large walk-in closet ‘

e Large balconies

e Elegantly furnished throughout with a
separate study

e Formal dining room

e Private elevator

e Heated pool and spa overlooking the harbor

e Private dock for a yacht up to 75 feet

e Dedicated storage and crew areas

e Exercise room

e Indoor Garage

e Private gated entry

e Lush tropical landscaping

The successful applicant will primarily be responsible forthe develop-
ment of Fidelity’s corporate finance business in The Bahamas and across
the Caribbean and will be expected to travel on a frequent basis.

An attractive compensation package, including a comprehensive range of
employee benefits is offered. . ,

Please send applications no later than April 15th, 2007 to:
Director Corporate Banking
Director of Human Resources
P.O. Box N-4853
Nassau, Bahamas
Tel (242) 356 7764
- Fax (242) 326 3000
Email careers(@fidelitybahamas.com

The Tribune wants to hear
from people who are *
making newsintheir ,
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning .
for improvements in the
area orhavewonan '°
award. r

If so, call us on 322-198

and share your story. {

Rent:

$18,500.00 per month net
NO PETS




For further information and viewing call:
363-2730

DIRECTOR CORPORATE BANKING





ile eae TIME TO PLAY
oem ~— OUTSIDE!

For All Life’s Roads

GRAND BAHAMA POWER COMPANY
Keeping Grand Bahama's Future Bright

Vacancy Notice
A vacancy exists in the Transmission & Distribution Department of
Grand Bahama Power Company, fora DRAUGHTS MAN.

eeseeecrraes enna







k
6
»
>

j

h

aH

The duties include but are not limited to performing drafting tasks,
necessary to record construction and maintenance details and changes:
to T&D and Steam Plant system and preparing detailed drawing frony,
engineers sketches. Designing and managing the construction of;
changes to the company’s civil structures and field collection of system:
graphical information by GPS. The incumbent will also assist Managers,’
Engineers, Superintendents and Supervisors in preparing Construction:
details as dictated by system changes. This position reports to the Planning.

and Scheduling Manager. "

The applicant must be fluent in the use of AutoCAD and should bes
familiar with data management applications MS Office, Internet}
technologies, mobile Computing etc. and have experience with GPS}
equipment and associated GPS software packages. The applicant should}
also have the ability to understand the difference between data types and;
know the impact and consideration when designing a database, especially :
in Microsoft Access. :

a
®

i

Standards:

¢ AM/FM 6-disc CD player

¢ Power windows &
door locks

e Automatic Locking
Rear Differential

The ideal applicant will be a Bahamian with an Associated Degree in?
Drafting. However, the minimum requirements are a High School '
Diploma and BGCSE or GCE ‘0’ level passes in Mathematics and
English Language. Applicants must have a minimum of five (5) years
drafting experience (preferably with a utility), technical studies covering 4
technical drawings and technical report writing and be competent in the -
use of computers. ’

e 3.7L |-5 engine

e 2-door or 4-door
‘models

¢ 2 or 4-wheel drive

The all new
Chevrolet
Colorado offers
you more choices.



2-DR/2WD - $449.16 per month

4-DR/2WD - $533.96 per month __ Prices based on a 6-year term Applicants with supporting documentation including a clean Police },
4-DR/AWD - $557.16 per month Certificate and proof of Bahamian citizenship should be sent to: ?.

; : THE DIRECTOR OF HUMAN RESOURCES :

On-the-spot financing. GRAND BAHAMA POWER COMPANY, LIMITED

Nassau Motor Company Limited P.O. BOX F-40888 :

Shirley St. ¢ P.0. Box SS-62135 © Nassau, Bahamas FREEPORT, GRAND BAHAMA, BAHAMAS :
Tel: (242) 328-3908 » Fax: (242) 323-7272 eS cere
ebsite: www.nassaumotor.com 1
Deadline for receipt of applications is MARCH 31, 2007

\





a
~ a

se THE TRIBUNE WEDNESDAY, MARCH 28, 2007, PAGE 7B
we =



BUSINESS.



‘Fish catch limits harm tourist sector

qs | By CARA BRENNEN-BETHEL
=“* Tribune Business Reporter

Legal Notice

NOTICE

VERBATIM HOLDINGS LID.

IN VOLUNTARY LIQUIDATION

But he added: “We believe adjustments need
to be made quickly to consider this, and have
made this appeal to the Government.”

He said efforts should instead be focused on
catching and prosecuting poachers and illegal
commerical fishing.

“The blanket approach undertaken has result-
ed in a clear drop in vistor arrivals, and is affect-
ing not only marinas and hotels, but a range of
businesses and employees who depend on this
business,” Mr Miller said.

He warned that the window was fast-closing
on salvaging the tourism season in the northern

have any concrete figures on the impact of the
sportsfishing regulations, it had recieved letters
and held conversations with persons who had
indicated they were not coming to the Bahamas,
and tournaments have been cancelled.

“So to put a hard number in terms of per-
centage, no, but we know that we are beginning
to see some of the fallout in business and
decline,” he added.

Mr Miller said the issue was not the amount of
fish caught and consumed while in the Bahamas,
but the amount that can be taken out of the
country, which he said amounted to about “20
pounds or one fish like a grouper”

“So we have asked the Government to look at
that- in terms of limits of poundage per vessel,”



THE recent change in catch limits for sports
iG: xcfishermen visting the Bahamas has already neg-
: jt, atively impacted the tourism industry, with a

“tj, number of scheduled fishing tournaments having
been cancelled.
The Bahamas Hotel Association’s president,
‘tid Russell Miller, said yesterday that the recent
ay
ire imits, which drastically reduce the amount of
. virfsh that can be taken out of the Bahamas, have
“caused vistor cancellations in the northern and
‘northwestern Bahamas in particular. Bahamas, which benefits tremendously from
“4 “1! “We commend the Minister of Agriculture _ sportsfishing during the peak months of April to
4. and Fisheries for his efforts to protect our natural July.

Die:

Notice is hereby given that in accordance with section 137 of the
International Business Companies Act 2000 VERBATIM HOLD-
INGS LTD. is in dissolution.

The Date of the Commencement of dissolution was 23rd March
2007. David Thain of Arner Bank & Trust (Bahamas) Ltd., Building



ih a! ‘tesources, ” said Mr Miller. Mr Miller said that while the BHA did not — he added. 2 Caves Village, PO. Box N-3917 is the Liquidator of VERBATIM
ata, HOLDINGS LTD. All persons having claims against the above-
amo, g : eho Seer a. named company are required to send their address and particulars of
due to their exports becoming sea food products were exported iff being imposed. This would = ae é
Wiebe EU, from 1B uncompetitive. to the EU from the Bahamas in raise the price of Bahamian lob- their debts to the Liquidator before the 23rd April 2007.
jez : The Government document 2004, and loss of duty-free access ster by $2-$2.50 per pound, mak-

require that the Bahamas gives

.,. the same preferences to the US

Py »arthat it gives to the EU in the EPA

: wrtalks, especially if a replacement

ay for the Caribbean Basin Initia-

a Tertive is necessary.

Ht : A briefing prepared for the

-, Cabinet's sub-committee on trade

by the Ministry of Foreign

ne He ‘Affairs, which has responsibility

‘for international trade, warned

that the Bahamas would lose "its

favourable $20 million trade bal-

\* ance’ ' with the EU if it failed to

af ~ sign the EPA, while hundreds of

, Jobs would be jeopardised if Bac-

*“ardi and Polymers International
shut their respective operations —

detailed that the Bahamas export-
ed some $66.315 million worth of
goods to the EU in 2004, largely
made up of Bacardi's rum and
spirits products, lobster and other
sea food products, and polymers
from Polymers International i in
Freeport.

The Ministry of Foreign Affairs
document said: "An additional
cost of $5 per gallon would make
the Bahamian-produced rum
uncompetitive, and would likely
cause Bacardi to shift its produc-
tion to either Puerto Rico or
Mexico, where the MEN tariffs
are not applicable.”

Just over $35 million worth of

would lead toa 12.5 percent tar- ing it uncompetitive.

PUBLIC NOTICE |
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, THEREZE
TAMEICA LIGHTBOURNE of Garden Hills No. 2,
Nassau, The Bahamas intend to change my name to
THEREZE TAMEICA BRATHWAITE. If there are any
objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box SS-742, Nassau, Bahamas no later than thirty
(30) days after the date of publication of this notice.

/ Vquidator











KLG INVESTMENTS LTD./AQUAPURE




oo :

i NOTICE NOTICE

, oe] NOTICE is hereby given that BASELAIS BIEN-AIME OF NOTICE is hereby given that KERDITH MORENCY
5

FAITH AVENUE, CARMICHEAL RD., NASSAU, BAHAMAS,

4

marr
&

' 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 28th day of March, 2007 to the

Minister responsible for Nationality and Citizenship, P.O.Box

N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ERICA JAQUEL PARKER OF

KWAN YIN, MALL DRIVE, FREEPORT, GRAND BAHAMA,

pos

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 28TH day of
MARCH, 2007 to the Minister responsible for Nationality
s~and=“Citizenship, P.O.Box N-7147, Freeport, Bahamas.

RR eS Me PE Ge So aw oe



BAHAMAS, is applying to the Minister responsible for

OF CORDEAUX AVENUE, P.O. BOX N-356, 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 21th day of
March, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that NICOLA KATHERINE STEWART
PAINE OF 139, SEAGATE LANE, P.O.BOX F-40320,
FREEPORT, GRAND BAHAMA, 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 28TH day of MARCH, 2007 to the Minister responsible for

Applicants must be at least 23 years of age,
self-motivated, disciplined and possess the
following:

° A valid driver’s license
The ability to drive standard shift vehicles

Please visit out Bernard Road office
between the hours of 9:00am and 5:00 pm,
Monday - Friday to pick up an application
form.



Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



GP ipwnexcoanT EVONRES UNE is

FIRSTCARIBBEAN

INTERNATIONAL BANK

CAREER OPPORTUNITY

fora

Treasurer — Bahamas and Cayman

Operating Companies
Treasury Sales & Trading (TST)

Key Activities and Deliverables:

THE AIRPORT AUTHORITY

P.O. Box, AP - 59222
Lynden Pindling International Air port
Nassau, Bahamas

Proposal for Group Life & Medical Insurance

¢ 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.

e Successfully manage and extract maximum value from business projects and process
improvement initiatives designed to strengthen the operational infrastructure of FirstCaribbean
TST

The Airport Authority invites proposals from eligible insurance
companies and/or brokers on a Group Life Medical Insurance Plan
for employees of The Airport Authority.

F

The policy will be for a period of one year following the selection
of a successful tender. Parties interested in submitting a proposal

may collect an information package from the Executive Offices of
The Airport Authority at the Lynden Pindling International Airport
with immediate effect.

¢ Build and improve the organizational structures and delivery platforms that support the
FirstCaribbean TST model and product lines

MR BR Ey PR a” BY a Ft aoe ha Fn a a a” a 2 FST LL.

° 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.

All proposals should be sealed, and delivered to:
° Key result areas include: balance sheet & liquidity management, product sales/marketing

function, product structured support, governance and market risk
Manager, Human Resources
The Airport Authority
Lynden Pindling International Airport
P.O. Box, AP-59222

Nassau, Bahamas

ie eA BOE OTL RR

Qualifications/Experience:

a

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
(ST / Treasury Products business in international financial institutions

Solid operational experience in both a sales and a trading environment

Â¥

ath

And should be marked:

aa OO Sw WR

“PROPOSALS FOR GROUP LIFE AND MEDICAL INSURANCE”

Remuneration:

All tenders must be received no later than 4:30 pm on Friday 13,
April 2007.

e Salary commensurate with the position’s seniority (FC Level 9 - the Bank has
1} pay levels)
* Benetits- includes a car allowance, variable incentive pay (bonus) and preferred
Joan rates
The Airport Authority reserves the ri j : ie
d P y ghts to PecCeny Ot all Applicants are requested to submit their resume with a cover letter via email by
tenders.

March 29, 2007 to: deangelia.deleveaux @ FirstCaribbeanBank.com

FirstCaribbean International Bank (Bahamas) Limited thanks

allapplicants for their interest, however only those under consideration
will be contacted.

Cp RAM a MeO BO SS HLL MIRE TT



en



PAGE 8B, WEDNESDAY, MARCH 28, 2007 | :
Stocks fall as new data shows softening housing

market, raising fears about risks to economy

@ By MADLEN READ
AP Business Writer

NEW YORK (AP) — Stocks
stumbled yesterday as investors
grew wary when new data
1aised the possibility that the
nation’s weak housing market
would seep into the broader
economy and crimp consumer
spending.

A housing index released
Tuesday by Standard & Poor’s
showed that prices of single-
family United States homes fell
in January compared to a year
ago, in their worst showing

since January 2004. Also,
Lennar Corp., one of the
nation’s largest homebuilders,
said its first-quarter profit plum-
meted 73 per cent and warned
that it probably won’t meet its
2007 earnings guidance.

Wall Street has been nervous
lately that a drop in housing
values will further weaken sub-
prime mortgage lenders, who
make loans to people with poor
credit, and make consumers
feel less wealthy and rein in
spending. Consumer spending
makes up about two-thirds of
US economic activity.

The Conference Board said
Tuesday that its March con-
sumer confidence index fell to
107.2, the lowest level since
November and a decline that
was larger than Wall Street
expected. The index was at
112.5 a month earlier, which
had been its_highest level in
five-and-a-half years.

Analysts noted, however,
that lower confidence doesn’t
necessarily translate to a drop
in spending, especially with the
labor market as stable as it is.
Furthermore, the Dow Jones
industrials rose every day last

week and the recent pullback:

has erased only a small portion
of that 370-point weekly gain
— the largest since March 2003.

“While the market remains
on the cautious side, there was
a nice little bounce since mid-
March. Investors are just look-
ing over their shoulders, won-
dering if the problems in the
housing market and subprime
market are going to spill over,”
said Edward Yardeni, president
of Yardeni Research Inc.

The Dow fell 71.78, or 0.58
per cent, to 12,397.29. Tues-
day’s selloff put the blue-chip

NOTICE

NOTICE is hereby given that LEONARDO ARITIS OF
PINEWOOD GARDENS, 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 28th day of March, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.

Legal Notice

NOTICE

NOTICE IS HEREBY GIVEN as follows:

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

(b) The Dissolution of said Company commenced on March 27, 2007 when
its Articles of Dissolution were submitted and registered by the Registrar
General.

(c) The liquidator of the said company is Lakeisha Collie of 2nd Terrace
West, Centreville, Nassau, Bahamas.

(d) All persons having Claims against the above-named Company are
required on or before the 27th day of April, 2007 to send their names and
addresses and particulars of their debts or claims to the Liquidator of the
company or, in default thereof, they may be excluded from the benefit of
any distribution made before such debts are proved.
March 28, 2007
LAKEISHA COLLIE

LIQUIDATOR OF THE ABOVE-NAMED COMPANY





Mili acckae) ayn

Well established Fashion Retail
SIUC as Mn ll enon ai elice|
respected worldwide Franchise.
20 years at same prime location.

Email: b.inquiries@gmail.com

Legal Notice

Notice

THE SCOLLAND COMPANY 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 5th day of April, 2007. In default thereof they will be
excluded from the benefit of any distribution made by the
Liquidator.

Dated the 23rd day of March 2007.

Lynden Maycock
Liquidator






index back into negative terri-
tory for the year.

Broader stock indicators also
fell, but remain higher for 2007.
The Standard & Poor’s 500
index lost 8.89, or 0.62 per cent,
to 1,428.61, and the Nasdaq
composite index declined 18.20,
or 0.74 per cent, to 2,437.43.

“The market is looking for
some good news to sustain
itself. Today didn’t give that
kind of news, and we were
slightly overbought,” said
Richard E Cripps, chief mar-
ket strategist for Stifel Nico-
laus, a broker based in St.
Louis. “We’re looking at mar-
kets that appear like they’re
more discriminating about
risk.”

Bonds were little changed
Tuesday. Investors were weigh-
ing the decline in home prices
against the specter of inflation,
sparked by speeches by Fed
officials Sandra Pianalto and
Michael Moskow, who both
touched on monetary-policy
issues.

The yield on the benchmark
10-year Treasury note was at
4.61 per cent, the same as late
Monday. ys

The dollar was lower against
the euro and yen. Gold prices
also slid.

Crude oil prices rose two |

cents to $62.93 a barrel on the
New York Mercantile
Exchange. Gasoline prices have
risen sharply in recent weeks,
giving many Americans anoth-
er reason to keep a tight bud-
get.

Lennar fell four cents to
$44.50 after reporting that
ongoing softness in the hous-
ing market will keep eating into
profits. Other homebuilder
stocks tumbled on Lennar’s
outlook and the S&P’s home
price data; D.R. Horton Inc.,
Toll Brothers, Pulte Homes and
KB Home fell more than one
per cent, and Hovnanian Enter-
prises Inc. more than three per
cent.

As the cooling housing mar-
ket dampens demand for home-
building materials, many man-

THE TRIBUNE

ufacturers have struggled. The
Federal Bank of Richmond
reported Tuesday that eco-
nomic activity in the Richmond
region registered a negative-10
in March — the same reading
as in February, but still indicat-
ing contraction.

Transportation stocks also
fell: CSX Corp. fell more than
two per cent, while Burlington
Northern Sante Fe Corp. and
Union Pacific Corp. fell more
than one:per cent.

Though the weakness in
housing and manufacturing is
weighing on stocks now, some
say it could eventually give the
market a boost if investors
believe that the Federal
Reserve won’t raise interest
rates to curb inflation.

“There’s enough softness in
the economy that the Fed’s not
going to raise rates,” Yardeni
said. “It’s a delicate balancing
act here — investors don’t mind
softness in the economy as long
as it’s not a recession.”

On Wednesday, investors will
be listening to testimony by Fed
chairman Ben Bernanke for
clues about the economy’s
direction, and reading the Com-
merce Department’s report on
orders of durable goods for
February.

Most companies aren’t
releasing much financial data .
in the coming weeks, as the first
quarter wraps up on Friday and
before the earnings rush begins

-in mid-April. But companies

could issue profit warnings, to
which Wall Street will pay close
attention.

Declining issues outnum-
bered advancers by more than
two to one on the New York
Stock Exchange, where volume
came to 1.38 billion shares.

The Russell 2000 index of
smaller companies was down
6.58, or 0.81 per cent, at 802.36.

Overseas, Japan’s Nikkei
stock average fell 0.90 per cent.
Britain’s FTSE 100 edged up
0.01 per cent, Germany’s DAX
index advanced 0.43 per cent,
and France’s CAC-40 gained
0.19 per cent.

NOTICE |

NOTICE is hereby given that ELAINE RAHMING OF
KING STREET, MURPHY TOWN, P.O. BOX AB-20774,
ABACO, 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 28th day of
March, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

Legal Notice

NOTICE

NOTICE

Pursuant to the provisions of SECTION 138 (4) of The International
Business Companies Act,2000, Notice is hereby given that:-

VISILLI LTD.

(In Voluntary Liquidation)
(a) LORELLA HOLDINGS LIMITED is in dissolution;
Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 26th day of
March 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

the date of commencement of this dissolution is March 27,
a7 , Legal Notice

NOTICE
THE SCOLLARD COMPANY LIMITED

NOTICE IS HEREBY GIVEN as follows:

The name of the Liquidator is EDWARD B. TURNER of
EDWARD B. TURNER & CO. #10 PETRONA HOUSE,
FOWLER STREET OFF EAST BAY STREET, P.O.BOX
N-1375, NASSAU, BAHAMAS.

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

EDWARD B. TURNER
Liquidator

ARGOSA CORP. INC.
(Liquidator)

The dissolution of the said company commenced

on the 23rd March, 2007 when the Articles of
Dissolution were submitted to and registered by the
Registrar General.

3] Gracy, 4] The Liquidator of the said Company is Mr. Lynden

Pricing Information As Of:
iT 7 Marci

Maycock of Ocean Centre, Montagu Foreshore,
East Bay Street, Nassau, Bahamas, as sole Liquidator.

Dated this 23rd day of March 2007.
Securit Previous Close Today's Close Change
Abaco Markets

Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard

Finco

FirstCaribbean

Focol

Freeport Concrete

ICD Utilities

J. S. Johnson

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

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soit SBE

52wk-Low Last Price Weekly Vol. EPS $
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Bahamas Supermarkets
RND Holdi

Colina Money Market Fund
Fidelity Bahamas G & | Fund
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Fidelity Prime Income Fund

3.0988***
2.625419°*
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2.3312
1.1592
10.0000

11.3945
acai e

ONE BAM 7I
divided by closing price
Bid $ - Buying price of Colina and Fidelity
Ask $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - Acompany’s reported earnings per share for the last 12 mths
NAV - Net Asset Value
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FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

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52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV § - Dividends per share paid in the last 12 months
4 P/E - Closing price divided by the last 12 month earnings

* - 9 March 2007
** - 8 February 2007
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2

THE TRIBUNE

Meredith to



close

print version of
Child magazine

Magazine publisher says move
will result in loss of 60 jobs

&@ By DAVID PITT
AP Business Writer

ment is expected to be signed
shortly for the CW Network
affiliate in the nation’s 86th
largest market.

The company said it would
benefit from a one-time gain
of $9 million in the third quar-
ter, due to the resolution of a
tax issue related to the sale of
stock in Craftways, a business
sold in 2003.

After the tax benefit, Mered-
ith expects to see an earnings
benefit of three cents a share
for the quarter, the company
said in a statement.

“We continuously review
our business activities with the
objective of maximizing our
performance and growth
potential,” said Stephen M.
Lacy, Meredith’s president and
chief executive, in a statement.

DES MOINES, Iowa (AP)
— Magazine publisher Mered-
ith Corporation said yesterday
it would close its print version
of Child magazine and main-
tain the title as an Internet
product.

The move will result in the
loss of 30 jobs, company
spokesman Art Slusark said.
In addition, another 30 jobs
throughout the company will
be eliminated as the result of
“realignments, restructuring
and revisions.” Most of the
positions are based in New
York, he said.

Des Moines-based Mered-
ith, which publishes 25 sub-

cription magazines including

Child, one of five magazines
acquired by Meredith from
Gruner + Jahr in July 2005,
will become an online brand
exclusively and reside on
Meredith’s new parenthood
Web site, which will launch in
July. The new site will include
Web versions of Parents,
American Baby, Family Circle
and Child.

The last print edition of
Child will be the June/July
issue.

Lacy said the Gruner + Jahr
titles are exceeding expecta-
tions, with fiscal 2007 operating
profit forecast to grow more
than 20 per cent.

Meredith shares were trad-
ing 15 cents lower at $57.80 on
the New York Stock
Exchange.

BOC mG eN UM LUCA CUS Oe yard CC

WEDNESDAY, MARCH 28, 2007, PAGE 9B



CROMWELL TRUST COMPANY LIMITED
Balance Sheet
(Expressed in United States dollars)

December 31, 2006





2006 2005
ASSETS
CURRENT ASSETS :
Cash and cash equivalents (Note 3) $ 144,472 $ 122,990
Accounts receivable 411 2,500
Other assets 1,050 1,050
145,933 126,540
FIXED ASSETS .
Furniture and equipment 24,514 24,514
Leasehold improvements 10,867 10,867
35,381 35,381
Less accumulated depreciation and amortization ( 26,481) (19,321) |
8,900 16,060
$ 154,833 $ 142,600
LIABILITY AND SHAREHOLDERS’ EQUITY
LIABILITY . me
Accounts payable $ 3,000 $ 3,500
SHAREHOLDERS’ EQUITY
Share capital
Authorized, issued and fully paid
100,000 shares at US$1.00 each 100,000 100,000
Contributed surplus . 67,000 67,000
Accumulated deficit (15,167) (27,900)
151,833 139,100
$ 154,833 $ 142,600



APPROVED ON BEHALF OF THE BOARD:

ector .



See accompanying notes. Report of Independent Auditors page 1.

CROMWELL TRUST COMPANY LIMITED
Notes to Financial Statements

December 31, 2006

Better Homes and Gardens
and owns televisions stations
and Web sites, said it would
record a one-time $3 million
severance-related charge for
the eliminated jobs.

The company said it would
record a one-time charge of $7
million to write off the assets of
Child magazine, mostly
deferred subscription acquisi-
tion costs. It also would write
off a non-cash impairment
charge for Meredith’s Chat-
tanooga, Tenn., television sta-:
tion WELI, dor which Meredith»:
has signed a letter of intento! 1)
sell. An asset purchase agree-

1, | GENERAL

Cromwell Trust Company Limited (“the Company”) was incorporated on August 28, 2000 under
the provisions of the Companies Act, 1992, of the Commonwealth of the Bahamas. The primary
business of the Company is to provide trustee services under a restricted trust license granted to the
Company on November 13, 2000. The Company’s registered address is at SG Hambros Building,
West Bay Street, Nassau, the Bahamas. . :

Share your news

The Tribune wants to hear
from people who are

| making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award. : nme
If so, call-us-on-322-1986 -
and'share your'story. +:













2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared under the accrual basis of accounting in accordance
with International Financial Reporting Standards and are expressed in United States dollars. The
significant accounting policies are as follows:

Cash and cash equivalents |

Cash and cash equivalents include cash at bank and-in: hand as well as short-term highly liquid
investments such as bank deposits. Term deposits are carried at cost value plus interest.

Foreign currency transactions

The Company's functional currency is the United States ("U.S.") dollar, however it transacts
business in currencies other than U.S. dollars. Assets and liabilities denominated in currencies other
than U.S. dollars are translated into U.S. dollars at rates in effect at the balance sheet date. Income
and expenses denominated in currencies other than U.S. dollars are translated into U.S. dollars at the
rates in effect on the transaction dates. aa ,

PUBLIC NOTICE _

Fixed assets .

The Road Traffic Department wl shes to ne assets are recorded at cost and are depreciated on the straight line basis at the following annual
advise the general public that in an pine ender
effort to service you better during Vehicle
Registration month our operating hours

Leasehold improvements - 33 1/3%

3. CASH AND CASH EQUIVALENTS :

Cash and cash equivalents of $144,472 as at December 31, 2006 are comprised of the following:

2006 2005
have been extended at its Thompson Fst Cartbean nero Bank Sshams) inted 38) oe
Blvd. location to 8:00p.m. From Monday “cows ia
March 26th - Friday March 30th, 2007. siaarasi22.9%0

The fixed deposit earns interest at the rate of 5% per annum.
4, LEASE COMMITMENT

On July 1, 2006, the Company renewed the office lease agreement, which expired on June 30, 2006,
for another three years at an annual rental fee of $16,960, with an option to extend the lease, upon
written notice and mutually agreed upon by the parties, for an additional period of three years.

5. PENSION COST

The Company has a retirement plan.(“the Plan”) administered by a local fund manager. as trustee,
covering the Company’s President and Corporate Secretary. The Company contributes an amount
equivalent to 5% of the officers’ annual salaries to the Plan. Total pension cost charged to operations
amounted to $14,500 in 2006 ($13,196 in 2005).

The Bahamas Environment Science &
Technology (BEST) Commission,

Ministry of Utilities & Environment Grant Thornton %

Chartered Accountants

is seeking a

PROJECT MANAGER

' with skills in technical writing, for the production of a public document.
The successful candidate would be able to conduct interviews, gather data
and analyze information. The successful candidate would also be
knowledgeable about global Climate Change (CC) and the United Nations
Framework for climate Change.The successful candidate would be able to
articulate the implications and factors effecting small island states relative
to CC. The position offered is temporary and is contingent on the production
of the document. Interested persons should send their resumes before March
29th, 2007 to the Commission office.All applicants should be available for
interviews during the week of April 3rd 2007. Please contact the Commission
for further details at:

REPORT OF INDEPENDENT AUDITORS

To the Directors of
CROMWELL TRUST COMPANY LIMITED

We have audited the accompanying balance sheet of Cromwell Trust Company Limited (“the Company”)
as of December 31, 2006, and the related statements of income and accumulated deficit, and cash flows for
the year then ended. These financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with International Standards on Auditing. Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, these financial statements present fairly, in all material respects, the financial position of the

Company as of December 31, 2006 and the results of its operations and its cash flows for the year then
ended in accordance with International Financial Reporting Standards.

es, Flas

BEST Commission, Ministry of Utilities & Environment
Nassau Court, West Bay Street
Nassau, Bahamas
Tel: 322-4546 or 322-2576
Fax: 325-3509
Email: bestnbs@ hotmail.com

wee

January 29, 2007 CHARTERED ACCOUNTANTS

4

Nassau, The Bahamas







PAGE 10B, WEDNESDAY, MARCH 28, 2007

THE TRIBUNE



Charles Sealy II to assume

role of chief executive

octors Hospital
Health Systems
(DHHS), the BISX-

listed healthcare provider, has
promoted Charles Sealy II to
the post of chief executive with



Switzerland, is seeking a

MAIN RESPONSIBILITIES:



Baer worldwide network

KNOWLEDGE/SKILLS



EXPERIENCE






EDUCATION

FOREIGN LANGUAGES




2007 to the attention of:

BY HAND:
Personal & Confidential
Bertrand Zimmermann



Ocean Center, Montague Foreshore
East Bay Street
Nasau, Bahamas

Julius Bar

Julius Baer Group, the leading dedicated wealth Manager in

SENIOR RELATIONSHIP MANAGER

- Develop his/his existing client network
- Develop Julius Baer Bank & Trust as Booking Center through Julius

- Excellent organizational leadership and communication skills
- A commitment to service excellence
- Ability to work in team environment

- Prior experience in Senior Management
- Minimum 10 years experience in Private Banking

- Bachelor degree in Economics, Business Administration or equivalent
- German, French and/or Italian required.

Interested candidates should forward a copy of their resume by April 4,

Julius Baer Trust Company (Bahamas)

effect from July 1, 2007.
When he assumes this role,
Mr Sealy will be responsible
for DHHS’ day-to-day activi-
ties, and report to the presi-
dent and Board of Directors.


















_ BYMAIL:
Personal & Confidential
Resident Manager
PO. Box N-4890
Nassau, Bahamas








Joe Krukowski, DHHS
chairman, said in a statement:
“This restructuring is a part of
our ongoing strategy of devel-

oping a strong succession plan _

for the organisation, to ensure
the sustainability of capable
management as we go forward.

“This promotion is a success
of and a part of that strategy,
and it also frees up Barry
Rassin to focus his attention
on future growth strategies for
the company, including the
development and implemen-
tation of Board-approved
expansion as necessary to keep
Doctors Hospital at the fore-
front in healthcare.”

Mr Sealy joined DHHS in
1999 as a coordinator, and
quickly rose to the posts of
vice-president and, most
recently, chief operating offi-
cer. He is a member of the
American College of Health-
care Executives, holds a Mas-

“This promotion is a
success of and a part
of that strategy, and it
also frees up Barry
Rassin to focus his
attention on future
growth strategies for
the company...”

— Joe Krukowski

ters Degree in Health Admin-
istration from Western Con-
necticut University, and his
temporary appointment at
Baptist Health System in Mia-
mi, Florida has prepared him

well for this promotion.

Legal Notice

NOTICE

WHEELBARROW LIMITED

IN VOLUNTARY LIQUIDATION

Notice is hereby given that in accordance with section 137 of the
International Business Companies Act 2000 WHEELBARROW

LIMITED is in dissolution.

The Date of the Commencement of dissolution was 23rd March
2007. David Thain of Arner Bank & Trust (Bahamas) Ltd., Building
2 Caves Village, RO. Box N-3917 is the Liquidator of WHEEL-
BARROW LIMITED. All persons having claims against the above-
named company are required to send their address and particulars of
their debts to the Liquidator before the 23rd April 2007.

DELTEC BANK.& TRUST LIMITED

Invites applications for the position of

TRUST MANAGER |

Responsibilities will include (but are not limited to):

“*. Creating fiduciary structures that will service the needs of

clients

“* Marketing trust products

** Ensuring that all fiduciary structures are administered at a
high professional standard and in accordance with Policies
& Procedures of Deltec and the laws of The Bahamas

“* Maintaining current knowledge of all issues (law and tax)
affecting fiduciary structures
“* Supervising the Company Department

The successful candidate should have the following:

> STEP Diploma

> 10 years trust experience
(minimum 5 years in a supervisory capacity) -

> Excellent written, oral and presentation skills

Salary will be commensurate with experience.

Interested persons may submit resumes as follows:

Human Resources Manager
Deltec Bank & Trust Limited

P. O. Box N.3229
Nassau, Bahamas

Resumes may also be faxed c/o 362-4623 or emailed to

anh@deltecbank.com

ABSOLUTELY NO TELEPHONE
CALLS WILL BE ACCEPTED







2006/2007 Officers & Directors

President

David Slatter, CFA

Fidelity Merchant Bank & Trust
PO Box N-4853, Nassau, Bahamas

Ph: (242) 356 7764
Email; david slatter@fidelitvbahamas.com

Vice-President

Kristina M, Fox, CFA
Templeton Global Advisors Ltd,
PO Box N 7759, Nassau, Bahamas
Ph; (242) 362 4600

Fax: (242) 362 4308

_ Email: kfox(@templeton.com

Treasurer

David Ramirez, CFA
Pictet Bank & Trust Ltd,
PO Box N-4873

Nassau Bahamas

Ph; (242) 302 2217

Fax; (242) 327 6610
Email dramire@pitet com

Secretary

Christopher Dorsett, CFA

Citigroup Corporate & Investment Bank

PO Box N 8158, Nassau, Bahamas

Ph; (242) 302 8668

Fax: (242) 302 8569

Email: Christopher.a.dorsett(@citigroup.com

INSTITUTE

PROFESSIONAL
DEVELOPMENT
QUALIFIED ACTIVITY





CFA Society of The Bahamas

m@ PROMOTED — CHARLES SEALY II

JEWELLERY STORE MANAGERS ©

Discover a rewarding and
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country’s visitors in the exciting
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MONTHLY LUNCHEON SPEAKER EVENT

Ts Estate Planning Part of Asset Allocation?”

Topic:
Date: Friday March 30, 2007
Time: 12:00pm Cocktail Reception
12:30pm —— Speaker’s Address
Please arrive promptly! -
Location; Luciano’s of Chicago
« __ Cagliari Room
East Bay Street
Speaker; Francois E, Aubert
Independent Private Banker, Switzerland
Cost; Members $25.00
Non-Members $35.00
(If paying by cheque, please make cheque payable to;
CFA Society of The Bahamas)
Reservations: PRE-REGISTRATION REQUIRED -by Mar.28, 2007 ,

Chris Dorsett, CFA
Christopher.a. Dorsett@Citigroup,com
*Prepayment required through one of the Board
Members

Francois E. Aubert is an independent private banker who advises his
clients on overall strategy, asset allocation, risk analysis, estate planning,
and tax evaluation. He is also a consultant on issues regarding exports of
goods and services to the Middle East. Mr. Aubert lectures in business
administration at IUKB (State University of Valais) and New York
College's European campuses and is a trainer for ISFB (Geneva Banks
Training Institute), He is a board member of the Swiss CFA Society and a
member of the CFA Institute Professional Development Committee, Mr.
Aubert holds a MBA from the Heriot-Watt University in Edinburgh and
is a Certified Financial Analyst and Portfolio Manager (AZEK/CFPI), a
NLP practitioner, and a PADI Divemaster.















"Is Estate Planning Part of Asset Allocation?"
The current trend is to include estate planning as one of the elements of
asset allocation. But is it where it should be? Shouldn’t it be placed
upstream? Allocating assets according to specific uses mostly focuses on
tax éfficiency. But what if the customer’s place of residence is tax free or
almost? This presentation explores the advantage of an approach that
first analyzes the estate planning needs, including items such as family
protection or children’s education, matching them with the current
sources of income, and then only allocates the funds to various investment
portfolios and other investment vehicles to meet the customer’s needs













Full Text
WEATHER

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« |
@ By PAUL TURNQUEST
, Tribune Staff Reporter

DIRECT OR of Public Pros-
ecutions Bernard Turner said
yesterday: that the open inquest
into the death of Daniel Smith
will begin on Thursday as closed
sessions with local attorneys,
which started today, will con-
tinue SLoidine ta tomorrow.







AUTO

E MANAGENENT

D. ENSURANCE BROKERS & AGENTS

of Daniel Smith

main thrust of the argument

behind the attorney's discus-,

sions is the way to ensure the
"fairness" of the seven-man
jury.

Reportedly there. is some
issue as to whether or not there
can be an impartial jury select-
ed with such a high profile case
as this.

Daniel Smith, the son of

deceased US celebrity Anna_

Pap



INSURA NC
















Fale: Eleuthera | Fume |
Tel ul) 432-7860 Tek (249) 336-29 aM Y



BAHAMAS EDITION





WEDNESDAY, MARCH 28, 2007

Nicole Smith, was discovered
dead in his mother's hospital
room at Doctors Hospital in
September last year.

Daniel had just arrived in the
Bahamas and was visiting with
his mother and newborn sister
Dannielynn Hope. The next
morning he was discovered in
a non-responsive state.

P SEE page ae




B@ AQUINAS College
celebrated the ‘Journey to
Freedom — A Bicentennial

Abolition Celebration of the
Slave Trade’ with performers

displaying African dances
e SEE PAGE TWO
(Photo: Felipé Major/
Tribune staff)

PRICE — 75¢



ET)
at

reer NTO}

SORE m Ke
‘ustrate return of

Haitian-Bahamians’

@ By RUPERT MISSICK Jr
Chief Reporter

THE Bahamas’ current immi-
gration policy was intentianally
designed to frustrate the return
of Bahamians of Haitian
parentage and Haitian-Bahami-
ans to claim citizenship, it was
claimed yesterday.

Lawyer and human rights
advocate Elizier Reginer told
The Tribune that this is a viola-
tion of the tenets of the
Bahamas Constitution.

He explained that given the
“impotence” of the Bahamian
Consulate office in Haiti, it is
virtually impossible for person
with legitimate claims on
Bahamian citizenship to leave
Haiti and come to the Bahamas.

In terms of their power to
approve or renew travel docu-
ments the consulate office has
not been given the power to do
this and people are banished to
Haiti without a way to legally

re-enter the Bahamas to make a

claim.

“Then the Bahamas govern-
ment would say you did not
apply in time for your 18th
birthday. This frustrates young
people further because they are
not legitimate. They cannot get
an education and have no right
to bank in this country. It puts
them in a second class. It is a
human rights issue

“They take it for granted that

Man found dead is
identified by police

@ By DENISE MAYCQCK
Tribune Freeport Reporter

FREEPORT - Grand Bahama Police have identified the’ man
found dead in a parked vehicle on Barbary Beach as 31-year-old
Desmond Butler, a resident of Freeport.

The victim, who is a resident of Gordon Avenue, is also known
as Druma Alexander Carey, according to a press release issued by

police on Tuesday.

Butler’s body was discovered by police on Saturday evening
around Spm at the eastern end of Barbary Beach.

According to reports, Police received information about a sus-
picious vehicle parked in an isolated area about 200 yards north of

SEE page 11

these people will accept a sec-
ond class citizen position and
be grateful for the little favours
they are given. It is a show of
disrespect for a whole commu-
nity,” Mr Reginer said.

The Bahamas Constitution
allows that every person who
was born in the Bahamas on or
before July 9,1973 became a cit-
izen of the Bahamas on July 10,
1973.

The Constitution also allows
for a person born in the
Bahamas after July 9, 1973, nei-
ther of whose parents is a citi-
zen of the Bahamas, to become
a citizen after he or she has
reached the age of 18

-Darold Miller

claims he is

‘innocent of
any suggestions
of impropriety’
@ By TRIBUNE STAFF

DAROLD Miller yester-
day declared that he is
“innocent of any suggestions
of impropriety.”

This came as the police
confirmed that the investi-
gation into the sexual related
complaint against the well-
known media personality is
still underway.

In a letter to the editor,
Mr Miller stated that he was
“mystified” by the front
page article which appeared
in The Tribune last Saturday
entitled “Sexually-Related
Complaint Against Darold
Miller.”

“Firstly let me say that I
could not find one scintilla of
an allegation in your story. I
deny each and every infer-
ence of an allegation with all
that is within me. Iam inno-
cent of any suggestion of
impropriety at all,” he said.

Mr Miller went on to state





SEE page 11

years, or within that year he or
she is 18.

Bahamian officials, he said,
must acknowledge that before
1973 many Haitians, who had
children born in the Bahamas,
were deported.

“Where are these children?
Many of them were not docu-
mented. I am not talking about
the Haitian-Bahamian I am
talking about the full Bahamian,
pre-1973 births.

“These people are in Haiti,
wandering around like zombies
now. They want to come back,
but no one is checking for

SEE page 11

Developer claims
Ministry ‘victimising’
people who have
bought home

lots from him

A DEVELOPER has
appealed to the Ministry of
Works to stop “victimising”
people who have bought home
lots on one of his subdivisions.

Joshua Haeward claims the
ministry is denying building
approval to buyers simply
because of their associations
with him.

“These people are straight-
forward middle-class families
and I want them to be free to
get ahead with their lives,” Mr
Haeward told The Tribune yes-
terday.

“Some of these people have
their lives on hold because of
this. This bothers me a lot.”

However, a spokesperson for
the Ministry of Works yester-
day told The Tribune that Mr
Haeward has failed to obtain
both a land use approvals and a
subdivision approval.

The spokesperson, who
wished to remain anonymous,
claimed that Mr Haeward has a
“long history of not living up to
the end of his bargain” when it

SEE page 11

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PAGE 2, WEDNESDAY, MARCH 28, 2007

THE TRIBUNE





Tourism official: the Bahamas
will be in next global survey

@ By ALISON LOWE
Tribune Staff Reporter

Ministry of Tourism officials
have pledged that the Bahamas
will be included in the next
World Travel and Tourism
Competitiveness index.

The ministry yesterday
released a statement saying that

they have. received this assur--

ance from the organisation
behind the survey, the World
Economic Forum, after The
Tribune raised the question
with the ministry ‘of why this
country was not included in the

comprehensive and widely tout- -

ed 2006 report, released several
weeks ago.

A ministry official said that
the country’s inclusion in this
year’s Economic Forum survey
will “serve to provide yet anoth-
er barometer to evaluate the
performance of the important
tourism sector to the local econ-
omy as well as indicate where
we stand internationally".

“And we will, of course, pro-
vide any data necessary to
inform such a report and stand
ready to do so,” he added.

The World Travel and
Tourism Competitiveness
Index, released early March,



Ministry commits to providing data to World Economic Forum



ranked 124 countries “according
to the environments they offer
for developing travel and
tourism.”

The survey concluded that
Switzerland was the most com-
petitive tourism destination
overall, while Barbados, ranked
29th, was the highest ranked in
the Latin American and
Caribbean region.

Benchmark

Officials behind the survey
said that it would help those
countries included “to bench-
mark themselves against other
countries".

“Compelling economic
data...will assist the more
dynamic nations to take posi-
tive action, stimulating their
tourism economies,”
president at the World Travel
and Tourism Council, within the
WEC, Ufi Ibrahim.

The comparative data it pro-
vides can be a tool not only for
governments but also for policy

a AQUINAS College Sadeote enjoy : a performance from

Ancient Man



WAN African = troupe performs a celebration of freedom







RULES

family. guardian’
a celebration of nature

14 winning entries will appear in Family Guardian’s 2008 calendar.
Winning entries receive a gift certificate valued at $400 each.
Entry deadline is May 31, 2007

1 Family Guardian's Annual Calendar Photo Contest is open to all photographers.
“A CELEBRATION OF NATURE.” Photographs may be of any subject (animate or inanimate) or a scene which is a striking example of nature as found in
The Bahama Islands. All photographs must be taken in The Bahamas.

2 DEADLINE FOR ENTRIES IS MAY 31, 2007.

3 All entries are to be delivered to Family Guardian’s Corporate Centre, Village and Eastern Road Roundabout, Nassau, between 9:00am and 5:00pm
weekdays only. Envelopes should be marked “Calendar Contest.”

said vice- .

makers, travel and tourism com-
panies, investors and academics.

Queried after its release sev-
eral weeks ago, Edwin Light-
bourne, general manager in
charge of communications at
the Ministry of Tourism, said
he would look into why the
Bahamas was excluded.

Yesterday, a statement
released by the Ministry said:

“Aviva Rajczyk of the WEF
noted that the reason for the
Bahamas’ exclusion from the
124 countries recently survey
related to the methodology
used by WEF, adding that The
Bahamas will be covered in sub-
sequent reports.”

According to the Ministry,
the WEF said that they could
not identify a “partner institute”
in the Bahamas last year
through whom they could col-
lect the data to be included in
the index, as they had with oth-
er countries.

However, the WEF stated
that this year they have found
such a partner institute, and
therefore the Bahamas will be

dseceeedeereceacareseeneeceresescenncseereracsnsaressecseaseseesaneaees, Seteeeeeeeeeeesaneeeeneeeenarneeseneesseaaueseeeneneeanensesusaneeaesecenssenaneseeraneeeesaneesessaeesssceeseseseeeseseeeeaseeeen ees

Celebration
of culture

B AQUINAS College
celebrated Journey to
Freedom: A Bicentennial
Abolition Celebration of
the Slave Trade, as
performers displayed
African dances with the
Song Soona Will Be Done

‘

included in the 2007 Global
Competitiveness Report and

the next Travel and Tourism
Report.

Alley work underway

@ ANOTHER set of explosives are set off yesterday on
Harrold Road, as a layer of limestone is removed to make
way for a proposed bowling alley



oto contest.

The title for the company’s 2008 calendar will be










@ AQUINAS College
celebrated the abolition of
the slave trade with a
performance of African
dances

(Photo: Felipé Major/
Tribune staff)

Share
your
nevis

The Tribune wants to hear



In brief

Police seek |
DNA samples
after World
Cup murder

@ JAMAICA
Kingston

POLICE will seek DNA
samples from everyone in the
hotel where Pakistan cricket
coach Bob Woolmer was
strangled - including mem-
bers of the West Indies and
Ireland teams — an official
announced Monday, accord-
ing to Associated Press.

Deputy Police Commis-
sioner Mark Shields called
the effort “a huge task” and
said there would be no quick
end to the probe into who
killed Woolmer after his
team’s surprise elimination
from the World Cup on St
Patrick’s Day.

“There are many potential
suspects in this investigation
and even more potential wit-
nesses,” Shields told journal-
ists gathered at the Jamaica
Pegasus Hotel, where
Woolmer’s body was found
the day after his team lost to
Ireland.

Woolmer’s death shocked
the global cricket fraternity
and cast a pall over the
World Cup, being played in
nine Caribbean countries
through late April.

Speculation has focused on
everyone from crazed fans to
a gambling mafia and dis-
gruntled Pakistani team
members.

Jamaican authorities
already questioned and
obtained DNA and finger-
print samples from Pakistan’s
24-man team, which was
allowed to leave the island
on Saturday.

“That process will continue
for everybody else who was
in the hotel at the same
time,” Shields said, adding
that police might travel
abroad to collect samples and
question people, including
those in other Caribbean
islands for the World Cup.

He said it might not be nec-

essary to call people back to
Jamaica but did hot ‘rule ‘it
out.

Woolmer, 58, was found

dead in his hotel room March:

18. Police said he likely knew
his killer or killers because
there was no forced entry.
They have not identified sus-
pects.

It was not immediately
clear how many people were
staying in the hotel when
Woolmer was killed. Besides
Pakistan’s team, players from
the West Indies and Ireland
squads also were guests, as
well as dozens of fans and
international journalists.

“We’re still trying to track
down as many witnesses as
we can,” Shields said. “It’s a
huge task ... but we have to
start from somewhere.”

Shields said police were no
closer to identifying a motive
but that he would assign offi-
cers to an International
Cricket Council probe into
whether Woolmer’s murder
was linked to match-fixing.

He said police were still
reviewing closed-circuit video
and Woolmer’s laptop for
clues.

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from people who are
making news in their
neighbourhoods. Call us
on 322-1986 and share
your story.

4 Allentries must be accompanied by an official entry form, available at any Family Guardian office or when published in the newspapers.

5 Only colour images in horizontal format will be considered. Images must be provided as 35mm film or digital images on CD. 35mm film can be positive
(slides) or colour negatives. Digital images must be of high quality (2700 x 2100 pixels or larger). Digital images showing any signs of photo manipulation,
resolution enhancement or compression will be rejected. To ensure the best colour reproduction, digital images should be supplied in RAW, TIFF or high quality JPEG
and in the original colour format the camera uses (LAB or RGB). All entries must be supplied with prints which will be used in the judging process.
(Note: prints submitted without 35mm slides or negatives or CD’s will not be eligible). The photographer's name and photo subject should

_ be written on the reverse of the print.

6 Judging of entries will be based on beauty, interest, composition, colour, originality and quality of photograph. Preference will be given to fauna photographed in its
natural state, rather than in captivity. The photographs selected will appear in Family Guardian’s'2008 calendar. The decision of the judges will be final.

7 Allentries are submitted at the owner's risk. It is the company’s intention to return all entries in their original condition. However, Family Guardian
will assume no liability for any loss, damage or deterioration.

8 Agift certificate valued at $400 will be presented for each of the photographs selected. More than one entry from a single photographer may be selected.
Photographic credits will be given in the calendar. The number of entries per photographer is limited to a maximum of 5 photos.

9 ‘The winning photographs, along with all publication and reproduction rights attached thereto, become the Brpenty of Family Guardian and the company

reserves the right to use such in the future.


































10 Employees of Family Guardian, its affiliated companies or family members are not eligible. ,

11 Previously published photos are not eligible. »

[Pe ee ee ee ee ee ee ee ee ee ee ee *

i 2008 CALENDAR PHOTO CONTEST ENTRY FORM i :

Photo by Tim Higgs NAME »,

cs: Family Guardian’s PreeeeeeeOOOTECESeee eT eer eee Sere cere rere eee r reer eee reer ere eee err ere ee erie reer reer errr reer reer eee rere teeter ete »,

eee Catonder TEL BUSINESS ‘
P.OsBOX sssrisscsieas.

%

i SIGNATURE *,

A DAB eiaseesisssvictesiereoewesd (maximum of 5) m

| agree that in the event that one or more of my entered photographs is selected as a winner in the 2008 Family %

Guardian Calendar Photo Contest it wil become the property of Family Guardian Insurance Co. Ltd., and *

| assign to Family Guardian all rights pertaining to its use in any way whatsoever. | also confirm that the .

photos entered in this contest were taken in The Bahamas by the undersigned and have not been *

previously published. ®,

tun th ps: -WEFAMILY | °

Calendar Contest, Family Guardian ‘

Corporate Centre, Village & Eastern Road GUARDIAN i *

Roundabout, Nassau, Bahamas INSURANCE @

ENTRY DEADLINE: MAY 31, 2007 l :

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© [n brief

Meeting
scheduled
to discuss
social ills

A meeting has been called by
the National Youth Advisory
Council to discuss the issue of
crime, the “staggering” murder
rate and other social ills affect-
ing the country.

One of the key points to be
addressed, the council said in a
statement yesterday, is the
importance of young Bahami-
ans registering to vote and vot-
ing “wisely”.

“The chairman of the Nation-
al Youth Advisory Council will
seek to reveal and unveil to the
nation’s youth and the public
at large the truth behind all the
deception that they have been
fed,” the statement said.

The meeting will take place
on Moday, April 2 at Spm in
Rawson Square.

In attendance will reportedly
be youth leaders from various
groups, including Youth
Against Foolishness (Y AF) and
Parents Against Foolishness
(PAF).

Meeting
scheduled
to discuss
social ills

THE Princess Margaret Hos-
pital has announced that its tele-
phone service has been recon-
nected following a short inter-
ruption.

The hospital extended apolo-
gies for any inconvenience that
may have been caused by the
problem.

Former Polish
presidents
back Cuba
opposition

m@ POLAND
Warsaw

TWO former Polish. presi-
dents have put aside their long-
time rivalry to encourage
Cuba’s struggling democratic
opposition, according to Asso-
ciated Press.

Lech Walesa, the renowned
Solidarity leader, and Alek-
sander Kwasniewski, a former
communist who became a pop-
ular democratic president, joint-
ly published an open letter to
the people of Cuba encouraging
them to persist in seeking
democratic change and promis-
ing them Polish support.

“May these words, which we
write together, along with the
example of a free and progress-
ing Poland, serve as testimony
to the victory of agreement over
conflict, dialogue over quarrel,
good over evil,” read the letter,
published by the Polish media
on Tuesday.

The leaders recalled how they
sat on opposite sides during the
so-called Round Table Talks _
historic negotiations in 1989 that
brought a bloodless collapse of
communism.

“You are faced with a great
opportunity to restore democ-
racy in Cuba, an opportunity
that you must not waste,” they
wrote in the letter, which first
appeared in Sunday’s Miami
Herald.

Walesa was the first fully
democratically elected presi-
dent. Though considered a hero
for his dissident activities under
communism, he faced low
approval ratings as president
and was trounced by Kwas-
niewski in a 1995 race.

Kwasniewski served the two
terms allowed under Polish law,
and left office in 2005.

Last year, the Lech Walesa
Institute in Poland began a pro-
ject promoting solidarity with
Cuba’s democratic opposition.

INSIGHT

For the
stories

behind the

news, read
Insight on
Mondays



he Loungers |



Symonette to run in St Anne’s

as FNM revises candidate list

m@ By BRENT DEAN

BRENT Symonette will be
running in the new St Anne’s
constituency and Loretta
Butler-Turner will be con-
testing the Montagu seat,
sources have confirmed.

The FNM was early in
announcing its full slate of
candidates, as compared to
the PLP, which officially pub-
licised its candidates list last
night.

However, the report of the
constituencies commission
has led to the addition of one
seat, along with the reconsti-
tution of numerous others in
New Providence. Conse-
quently, the FNM is now
compelled to revisit its origi-





nal candidate configuration.

FNM chairman, Desmond
Bannister, stated that the party
will meet tonight and a revised
list of candidates may be pub-
licly released as soon as Thurs-
day.

However, he neither con-
firmed, nor denied, the sug-
gested moves of Mr Symonette
and Ms Butler-Turner.

FNM deputy leader, Brent

Election |




Symonette, confirmed that rat-
ification of certain candidates
is to occur tonight and that the
party will make the announce-
ment of its revised list of candi-
dates tomorrow.
Mr Symonette further stated
that the ratification meeting
pertains to the New Providence
seats that have been signifi-
cantly altered as a result of the
government’s — boundary

changes. The Family Island
seats will remain the same, he
stated.

“The only affected areas are
Montagu, St Anne’s, Killarney,
Clifton and Golden Isles. And,
we'll ratify those hopefully,” Mr
Symonette confirmed.

The alterations to the bound-
aries by the government has
eliminated the St Margarets
constituency — which only came
into effect for the 2002 election,
in a move that some commen-
tators have suggested was an
attempt, by then prime minister
Hubert Ingraham, to unseat
Pierre Dupuch.

Ms Butler-Turner lost the St
Margarets constituency by a
mere 27 votes in the 2002 elec-
tion to Mr Dupuch. Brent

Symonette won Montagu by
590 votes in 2002, by defeating
Senator. Yvette Turnquest —
who will again contest the Mon-
tagu seat.

Rumours have also emerged
that Alvin Smith, the current
MP for North Eleuthera, is
being considered in a move to
the new Clifton seat.

A source indicated that the
FNM leadership is not happy
with the Mr Smith’s campaign,
and they fear the loss of the seat
in North Eleuthera. Mr Smith
defeated former PLP Senator,
Damian Gomez, by 209 votes
in 2002.

If Mr Smith does move to
Clifton, it is suggested that
Richard Lightbourne may take
his place in North Eleuthera.

Wallace Rolle confident of South Beach PLP victory

@ By ALEXANDRIO MORLEY
Tribune Staff Reporter

THE PLP’s candidate for
South Beach is already claim-
ing victory in the upcoming
general elections.

Wallace Rolle told The
Tribune that he is already
receiving positive feedback
from residents and that there
is no doubt in his mind that
“South Beach is PLP.”

But, last week FNM can-
didate Phenton Neymour
claimed the Progressive Lib-
eral Party had already con-
ceded the South Beach seat.

At a rally in South Andros,
Mr Neymour said: “First I had
Agatha Marcell, and I told
them by Christmas she’d be
gone. She is gone. Then the
next one they brought in was
Hope Strachan. Well Hope
ain’t get nod hope no more
because she met up with a real
Neymour man.

“Then they bring me Wallace
Rolle. Well it ain’t long for Wal-
lace and I’ve been waiting for
him for a long time. Ladies and
gentlemen, South Beach is
ours.”

However, Rolle said he is
already running his campaign

like he has won and that his
objective is to increase his sup-
port base.

“We are going to see every-
body in the constituency at least
twice, possibly three times,” he
said.

Rolle described South Beach
as a lower middle to middle
class area and he claims most
residents are concerned with
ensuring that their neighbors
maintain a certain standard.

He also said that access to
community parks and crime
were major concerns among the
residents.

Asked what his plans were

for South Beach if elected,
Rolle said: “A lot of times per-
sons who aspire for office go
there with a plan. My goal is
to bring representation closer
to the people. That is to listen
to what the concerns of the
people are and try to make
sure that those concerns are
heard.”

Rolle also claimed that last
week’s re-structuring of con-
stituency boundaries had a pos-
itive effect on South Beach.

He said: “We had an area in
Adelaide that is no longer in
South Beach and that’s in our
benefit. We also lost the Silver

Gates area, which was also pos-
itive.”

The Progressive Liberal Par-
ty was expected to officially
announce its slate of candi-
dates yesterday at the Radis-
son Cable Beach Resort ball-
room. ©

The governing party is
expected to contest 39 of the 41
constituencies in the general
election.

Wallace Rolle is expected to
get the nod for the South Beach
constituency.

The only seats the PLP will
not contest are Bamboo Town
and Long Island-Ragged Island.



‘State of playground

comes under fire

THE Elizabeth Estates play-
ground is “an accident waiting
to happen” according to the
FNM.

Ina ee yester=. *

day, the party,said the play-
ground is in a state of disre-
pair and much of the equip-
ment is broken and hazardous.

What is more, it said, the
basketball court is covered

E with broken bottles.

Pauline Nairn and Elma
Campbell, the FNM candidates
for Yamacraw and Elizabeth
constituencies respectively,
noticed the state of the play-
ground when they visited
teachers at the Thelma Gibson
Primary School on a fact find-

ing mission.

The school, which borders
on both constituencies, is of
special interest to both women
as most of the parents that live
in the area send their children
there.

Mrs Nairn assured the teach-
ers that her visit was not to
campaign but to hear the con-
cerns they had for the school
and the students who attend
there.

She also asked what
enhancements they would like
to see for the school, and how
best the community and the
school can come together to
make things better.

One of the areas of great
concern for teachers was the
school’s library.

re

rs Bence
e Umbrellas
- Drinks Trolleys

‘Coffee Tables
ind Tables

They felt the current facility





PAULINE Nairn and Elma Campbell, FNM candidates for



Yamacraw and Elizabeth constituencies

is inadequate and in need of
an upgrade, according to the
FNM statement.

The teachers also expressed
their concern that there are no
proper facilities for the chil-
dren to play on, and a propos-
al was put forward for a school
auditorium and a proper play-
ground.

The courtyard where the
school’s assembly is held leaves
a lot to be desired, the FNM
added.

Elma Campbell said that if
Bahamians as a people do not
pay enough attention to their
children, especially in the far-
mative years, negative conse-
quence are inevitable.

She stressed that during her
tenure as a teacher, a few of
the boys she taught at the

gamer

and durable Diversatexâ„¢
ushion is fade and mildew
resistant and is available in
blue, green or terracotta

Simpson C Penn Centre for
Boys have now been promoted
to prison.

This trend, she said, must be
avoided and Bahamians must
pay attention to nurturing
while their children are young.

A male teacher emphasised
that the PTA was not a priori-
ty for most parents of children
at Thelma Gibson Primary.

He insisted that if more par-
ents participate in their chil-
dren’s life, the country could
head in a very positive direc-
tion.

Everyone present agreed
that it takes the collaborative
efforts of parents, teachers, the
community and the govern-
ment to make a country work —
regardless of which party is in
power.






















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(@)

PAGE 4, WEDNESDAY, MARCH 28, 2007

EDITORIAL/LETTERS TO THE EDITOR van

The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

LEON E. H. DUPUCH, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

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

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

Publisher/Editor 1972-

THE TRIBUNE



Expatriate
volunteerism

EDITOR, The Tribune.

IN CONCERT with the
editor of The Freeport News
(Editorial, March 7, 2007), I






OaAMPs

letters@tribunemedia.net

appreciative manner. When it
comes to charitable work, no
red tape should impede us.

Published Daily Monday to Saturday wish to express my supportfor’ 5. ‘JOSEPH DARVILLE
the enlightening recommen- _/â„¢migration to create a sensi- VP Grand Bahama,
Shirley Street, P.O. Box N-3207, Nassau, Bahamas dations proposed by my col- le, efficient and expeditious Human Rights Association.
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama league in human rights, Mr__ Strategy to handle the expa- Freeport,

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



Tribute to a uniter of Europe

IT WAS appropriate that the European
Union’s 50th birthday party took place in
Germany, the source of so much destruction
in the 20th century, and now, arguably, the
most amenable to the sublimation of self in
favour of a European identity. But the real
beginning of Europe’s U-turn away from
malignant nationalism toward peaceful, eco-
nomic cooperation began in France after the
last of Europe’s great civil wars in 1945.

France’s first postwar instinct — to take
as many resources as it could from a defeat-
ed Germany — proved impractical. Enter
Jean Monnet, the economist from Cognac,
who helped France become "the first Western
country to commit itself wholeheartedly to
economic growth and modernization as a
public policy,” as Tony Judt put it in his his-
tory of postwar Europe.

For France, economic recovery depended
on German markets and raw materials, espe-
cially coal. But if Germany couldn’t be simply
looted, as the Russians were doing, then Ger-
many should be harnessed to the European
plow. If you can’t beat ’em, join ’em, as the
saying goes, and Germany was more than
willing to be joined.

After the Monnet plan, Monnet wrote the
Schuman plan, named for Frénch“foreign
minister, Robert Schuman, which.anhounced
that the entire German coal ‘and steel pro-
duction would be placed under a joint.author-
ity within a framework left open to other
countries to join later. For the newly minted
West German Federation it was “our break-
through,” as Konrad Adenauer said — a
chance to be reintegrated into Europe after
the Hitler years. It was 1951, and the Euro-
pean Coal and Steel Community soon

to me: “Think of the unique experience which
was done between France and Germany
which changed 100 years of hostility. They
even changed the curriculum of the schools.
... We tried this between Egypt and Israel
without success ... .”

Monnet had seen, when he was with the
Free French in Algiers in 1943, that “there
will be no peace in Europe if the states are
reconstituted on the basis of national sover-
eignty .... The countries of Europe are too
small to guarantee their peoples the necessary
prosperity and social development. The Euro-
pean states must constitute themselves into a

-. federation ... .”

His first experience with federation, how-
ever, came when he was sent to London to
coordinate war efforts with the British in
those desperate days when France was falling.
Monnet was an instigator of de Gaulle and
Churchill’s last-ditch efforts to unite Britain
and France into one country to resist Hitler.
The effort failed when Marshall Petain came
to power, but “those days of June, 1940, had
a profound effect on my ideas of interna-
tional action,” Monnet would write in his
memoirs.

Monnet’s love life was nothing if not com-
plicated. He met his future wife at a dinner
party in 1929 when he was 41, and she 22, Ital-
ian, and married only four months to some-
one else. “We forgot the other guests,” he
recalled. They had a child, but divorce was
not possible in France or Italy. They went
to Moscow where Monnet used his influence
to gain immediate Soviet citizenship for her,
which allowed divorce, and they hastily mar-
ried. They went to Shanghai, where he
worked, and had to take refuge in the Soviet

Fred Smith, regarding volun-
teerism and the expatriate res-
idents. At the same time, I
wish to commend the Grand
Bahama Immigration Depart-
ment for the manner in which
it dealt finally with the inci-
dent involving a British young
lady in recent weeks, I became
involved in the matter subse-
quent to her arrest.

Initially, the action taken by
the officers was extremely
frightening for the young lady,
particularly having to spend
the night in lock-up. However,
the following day, after hours
of deliberation, the Deputy
Director of Immigration, Mr
James Rolle, and his senior
officers resolved the matter in
a very equitable and compas-
sionate manner, as could be
attested to by the lady in ques-
tion.

Over the years, in working
extensively in drug counsel-
ing, rehabilitation, education
and prevention, Operation
Hope, had to rely extensively
on a multitude of expatriate
residents, in particular the
wives of men who worked
here on permits. On one occa-
sion we encountered a simi-
lar problem with the Immi-
gration Department. Based on
an erroneous report by one of
our own citizens, who sup-
posed that one of our volun-
teers was being paid, the
department carried out its
investigation and found no
basis for the report. Subse-
quently, we were quickly
granted a letter of approval
for the lady to continue her
critical work with us.

In my humble opinion, it
should be the responsibility of
the Immigration Department
to encourage volunteerism on

triate volunteer programme
in a humane, gracious and

Boun

Grand Bahama.
March 7, 2007.

daries

Commission

EDITOR, The Tribune.

COMMON Cause, as a group, is extremely concerned over
the apparent ‘inability’ of the Boundaries Commission to report
to the nation and Parliament as to whether or not the con-
stituencies are to remain the same or if they are to be reduced

or expanded.

Prior to coming to office in 2002, the new PLP and its lead-
ership were all over the place telling gullible Bahamians what
they intended to do about the timely appointment; convening
and reporting of the Boundaries Commission. Lo and behold,
less than two months before the general elections must be held,
no report has been made and none appears to be on the horizon.

It is a common cause for Bahamians to know, in a timely fash-
ion, where they might be voting and who their potential repre-
sentatives may be. Not so with this PLP administration. They are
so consumed with their ‘fears’ of the Rt Hon Hubert A Ingra-
ham, that they are paralysed. Mr Christie, God willing, is a
one term Prime Minister and the average Bahamian cannot
wait to vote him and his defunct party out of office.

The very fact that the Boundaries Commission cannot seem
to report has much to do, we suspect, with the PLP’s dithering
over its slate of candidates and the dilemma as to how to ‘ger-
rymander’ the current constituencies. We wish to inform them
that no matter what they attempt to do, the people of this
nation are fed up and disgusted with their pantomimes and

‘play /play’ government.

The Hon Leslie Miller, MP, Minister of Agriculture, got a
direct and in your face taste of just how callous and uncaring his
government is. Mind you, he is creased right up with that crew
but, according to Miller, he is getting the run around and the
‘flambay’ which ordinary Bahamians have had to put up with for

the past five long years.

We don’t care how much his colleagues may mouth the walk.
Common Cause will campaign for and support the return of the
enlightened FNM and it’s erstwhile and dynamic leader to high
office. Messrs Christie and crew are totally ‘out of it’ and are so
full of themselves that it cannot be long now.

became “The Six” to include Italy, Holland, consulate for a while when her infuriated the part of spouses whose hus- EDWARD
Belgium, and Luxembourg. Six years later, husband tried to gain custody of the child. bands/wives reside and work EDWIN

the six formed the Common Market with the Not until her first husband died, in 1974, here on permit. DAWKINS Jr
Treaty of Rome, and today the six have could they be married at Lourdes in the eyes Traditionally, but even Niaccat

become 27.

Monnet always regretted that the British
stayed out of his Coal and Steel Community.
But Britain’s eyes were turned toward Amer-
ica and its overseas empire, not to Europe,
and thus the postwar leadership of Europe
was forfeited to France.

One can say Monnet’s contribution to
European integration was more economic
than political, but Germany and France made
an historic effort to actively bury the past.
As the former secretary general of the Unit-
ed Nations, Boutros Boutros-Ghali, once said

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of the church.

I went to pay my respects to Monnet’s
remains in the Pantheon, where a grateful
nation “honours its great men.” It struck me
as ironic that Monnet, who contributed so
much to Europe’s transit from Mars to
Venus, should lie in what my guidebook
describes as “this high altar of nationalism,”
where vivid murals depict France fighting
with all its neighbours, starting with Attila the
Hun.

(This column was written by H.D.S.

Greenway of the Boston Globe -c 2007).

more so now, it has become
nigh impossible to find
Bahamians, willing to dedi-
cate time and resources on a
volunteer basis. Thus, many
charitable organizations rely
almost exclusively on expatri-
ate volunteers to carry out
their work in our communi-
ties.

In collaboration with my
friend, Fred Smith, I offer my
services to the Department of



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March 8, 2007.

(The Boundaries Commission has reported, but Bahamians are:
niystified about what constituencies they are now in. And so all
voters are still waiting for directions. — Ed).

Food for thought on
proposed NHI scheme

EDITOR, The Tribune.

THE Bahamas Chamber of
Commerce hosted a wonderful
discussion on the governmen-
t's proposed National Health
Insurance scheme last night at
the BC Hilton.

Speakers included, Stanley
Lalta from the NHI, Nadeem
Esmail from The Fraser Insti-
tute in Canada, Barrie Farring-
ton of the National Coalition
for Health Care Reform, Mon-
ty Brathwaite of Colina Imper-
ial and Conville Brown of the
Centreville Medical Pavilion.

While no new information
was provided by the govern-
ment there was plenty of food
for thought from the other pre-
senters on how the government
can make their proposed
scheme viable for the benefit of
everyone.

Unfortunately Dr Nottage,
the Minister of Health was not
there to present his views
although he was invited.

A couple observations:

1. It appears to this not so
humble writer that Mr Lalta is
probably being used by the gov-
ernment to mouth their political
line rather than stick to the facts
or data. Maybe he does this
because they are still gathering
the data even though they have
already set the premium so now
they have to "make the suit to
fit the cloth"? It would be a
shame if a nice man like Mr Lal-
ta is sacrificed on the alter of
political propaganda.

2. Dr Perry Gomez felt com-
pelled to give us an emotional
plea, with quotes from Martin
Luther King to boot, for the

the only thing they had to cheer
about all night.

- 3, Having sat through a cou-
ple sessions of listening to the
government line on NHI, I must
admit to being frustrated, and
that shows in my body lan-
guage. But the shoe was on the
other foot for the civil servants
last night. As more information
about the lack of consultation
by the government was revealed
and sensible alternative policies
were offered by the presenters,
the NHI and Ministry of Health
team became increasingly fid-
gety. So much so that not long
before the event ended, a Ms
Cartwright, an assistant to the
Minister of Health, actually
"sucked her teeth" and left the
room.

And finally:

4. It would do the officials
handling the NHI Scheme to
remember that the Bahamas is
a democracy and they promised
open and frank discussions
about this very serious issue. To
date this has not happened, and
we are told it might be another
nine months before enough
data is collected for a more
open and frank debate.

As I pleaded with Dr Bald-
win Carey before he left last
night, it is my hope that the
govenrment will at least pre-
tend we are a democracy.

Let's hope that Mr Esmail's
very enlightening presentation
gives the government the
courage to reconsider their
scheme and use a model that
will provide better health care
and a better future for us all —
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poor as if we do not care about
them. This received tremendous
applause from the Civil Ser-
vants in the audience as it was





RICK LOWE
Nassau,
March 22, 2007


THE TRIBUNE

WEDNESDAY, MARCH 28, 2007, PAGE 5



LOCAL NEWS



Congress
considers
cruise ship
legislation

®@ WASHINGTON

MEMBERS of Congress,
hearing horror stories Tues-
day about crime aboard
cruise ships, said legislation
might be needed to guard
against lawlessness on the
open seas, according to Asso-
ciated Press.

Opening a hearing by the
House Transportation mar-
itime subcommittee, Rep Eli-
jah Cummings, D-Md, said
many Americans do not
understand the potential
legal complexities that can
surface in connection with
crimes that are committed on
cruise ships traveling outside
US territorial limits.

Cruise ship operators
announced at the hearing a
voluntary new agreement
with the FBI and. the Coast
Guard to improve and stan-
dardise crime reporting.
According to the FBI, cruise
ships don’t have to report
violations of US law outside
US waters, 12 miles offshore,
but under the new agreement
they would do so immediate-
ly.

Several lawmakers sug-
gested the crime-data report-
ing needs to be mandatory,
not voluntary. FBI and Coast
Guard officials praised the
new steps but described com-
plex jurisdictional problems
because the vast majority of
cruise ships fly under foreign
flags and therefore are not
under US jurisdiction once
they leave US waters. US
authorities cannot often
board them without permis-
sion.

“The jurisdiction issue is
very tricky and a tangled
web,” said Salvador Hernan-
dez, a deputy assistant direc-
tor at the FBI.

ele. e
EXTERMINATORS
Be TRA i) Be
PHONE: 322-2157

Wee ahs

WEDNESDAY,
MARCH 28TH

6:30am Community Page 1540AM
8:00 Bahamas @ Sunrise
9:00 Bullwinkle & Friends
9:30 King Leonardo
10:00 The Fun Farm
11:00 Immediate Response
noon ZNS News Update
12:05 Immediate Response Cont'd |
1:00 Legends: Erington Watkins
2:00 Royal Bahamas Police Force
Conference Centre Opening
ZNS News Update
Battle of The Brain
You & Your Money
A Special Report
News Night 13
Bahamas Tonight
Eye On Health
Labour Speaks
Battle of The Brains
Caribbean Newsline
News Night 13
11:00 The Bahamas Tonight
11:30 Immediate Response
1:30am Community Page 1540AM
NOTE: ZNS-TV.13 reserves th

rea eM eT iticoen as
programme‘changes!

5:00
5:05
5:30
6:00
6:30
7:00
8:00
9:00
9:30
10:00
10:30



Meeting for victims’ families as
murder rate reaches ‘critical’

FAMILIES of murder vic-
tims are to tell their own har-
rowing tales tomorrow at a spe-
cial meeting in Nassau.

Families Against Murder
(FAM) and the Department of
Urban Renewal are inviting all
pastors to take part in the sem-
inar at the British Colonial
Hilton.

The event, beginning at 7pm,
will feature mothers, fathers and
other relatives of murder vic-
tims. They will tell of the enor-
mous impact murder has on
family life — and particularly on
the lives of children left behind.

Psychiatrist Dr David Allen,
Pastor Dale Moss and commu-
nity activist Rex Major are all
listed to speak.

A spokesman said: “The
main focus, however, will be on

the families themselves and
what they have to say about
murder and its aftermath.”

According to Dr Allan, the
commissioner of Urban Renew-
al, the murder rate in the
Bahamas has reached a critical
point and is threatening every
citizen's “basic instinctual need
for survival and security”.

He gave this warning on
Monday at the public launch of
FAM, which was formed in con-
junction with the Urban
Renewal programme to advo-
cate for the interests of, and
emotionally support, murder
victim's family members and
other loved ones.

The group's message is that
relatives and friends of murder
victims need more support from
society, government and their

church leaders, who are on the
whole not sufficiently sensitised
to their plight.

Objectives

They hope that the group will
play a part in changing this, and
have announced several major
objectives, the achievement of

which will be significant steps .

forward in that direction.
“FAM are persons who have
been victims of murders and
persons who empathise with
us,” explained Maria Scott,
founding member and mother
of 31-year-old policeman Mar-
cion Scott who was shot five
times in the head in front of his
19-year-old sister last June. He
had been due to testify at a tri-

al, she said.

At the time of her son's mur-
der, Mrs Scott said she “felt
more pain than I've ever felt in
my life,” and while she and her
daughter have subsequently
received a lot of support, from
Urban Renewal representatives,
and her pastor, Dale Moss, she
questioned how others without
this support network would deal
with their loss and its long-term
consequences.

It was this that spurred her
to form FAM, she explained, as
a means of addressing this iso-
Jation.

e For further information
about the meeting, call 328-
1728/9 or Rex Major at 393-
3846.

i DR David Allen



Runway lighting turned on in Andros and Abacos

M MAILBOAT pioneer Gurth Dean of Sandy Point, Abaco gets
a hug from Prime Minister Perry Christie

EMERGENCY night flights
to South Andros, Moore’s
Island and Sandy Point are no
longer risky business.

-., Runway lighting were turned
on there Monday.evening dur- .

ing commissioning ceremonies
attended by Prime Minister Per-
ry Christie and four Cabinet
ministers.

He told those gathered for
the ceremonies that lighting of
runways was critical to the
implementation of the National
Health Insurance plan to which
the government is committed.

“This airstrip and its lights
have also been put in place to
guarantee accessibility,” he said.





“If someone were to be sick
needing an emergency flight,
«there would be no doubt what-
soever that at any time a flight
could come in and the button
pressed and the lights go on and
you having access, if you heed
it, to the Princess Margitet
Hospital without any effort
whatsoever.”
‘ Also attending were Tourism
Minister Obie: Wilchcombe,
Minister of Transport and Avi-
ation Glenys Hanna-Martin,
Works Minister Bradley
Roberts, Local Government
and Consumer Affairs Minister
V Alfred Grey, South Andros
MP Whitney Bastian, along



_—

Mi PERRY Y Christie gets a bie welcome during his visit to Mangiaye Cay on Monday to turn on the

airstrip lights

with senior civil servants.

The latest installation brings
the number of runways that
have been lighted during Mr
Christie’s administration to 20.

After much research, Mr
Roberts said, a decision was
made to engage Carmanah

Technologies Corp of Victoria,
British Columbia Canada. Car-
manah is an award-winning
manufacturer of solar-powered
LED (light emitting diode) light-
ing, with, in excess of 250,000
units installed in 110 countries.

The Model selected was the

A704-5 at a cost of $2,244,526
plus freight and installation, he
said.

It is the world’s most
advanced solar-powered LED
airfield lighting solution for per-
manent, temporary and emer-
gency applications.

ATLANTIS has been grant-
ed accreditation by the Asso-
ciation of Zoos and Aquari-
ums.

To be accredited, Atlantis
underwent thorough investi-
gation to ensure it has and will
continue to meet various stan-
dards, including animal care,
veterinary programmes, con-
servation, education and safe-
ty.

“Only the very best zoos
and aquariums can meet tough
Association of Zoos and
Aquariums accreditation stan-
dards,” AZA president and
CEO Jim Maddy said.

AZA requires zoos and
aquariums to successfully com-
plete the rigorous accredita-
tion process in order to be

members of the association.
They are required to resubmit
to this process every five years.

“The leadership and staff of
Atlantis are to be congratu-
lated for the hard work and
commitment that they put into
the accreditation process,” Mr
Maddy said.

Chief marine officer at
Kerzner International Frank
Murru said that Atlantis is
thrilled that the resort’s aquar-
ium and marine mammal staff,
its facilities and habitats have
been recognised “by such a
prestigious association as the
AZA”.

“We take pride in the dedi-
cated care we provide for our
marine mammals and over
50,000 marine animals of 250

ro Lun
B ake

WAYNE DALTON



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species and in the education
programmes we share with our
millions of guests to help them
understand these unique crea-
tures. It is exciting to have this
recognised publicly with the
receipt of this prestigious
accreditation,” he said.

Atlantis is currently the
home of world’s largest open-
air marine habitat and Dol-
phin Cay -— a new dolphin
interaction and education
centre.

Dolphin Cay is also the new
residence of the 16 Katrina
Dolphins, some of whom were
swept to sea during Hurricane

_ Katrina from their previous

habitat at the Marine Life
Oceanarium in Gulfport, Mis-
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yh aguas QUALIFICATION & EXPERIENCE:
lirectional quidance to staff, clients and other areas’ systems * Ability.to motivate staff in a technical environment where creativity i is required .
I, maintenance and support, as well as in business ¢ Considerable knowledge of the technical aspects of business applications ., '
2»n matters of high complexity * Ability to lead/motivate and develop highly specialised staff located throughout
d analyse complex business requirements and implement the region
ly-2 apables solutions to address multidiscipline business Solid knowledge of the assigned business areas
s/problems * Expert knowledge of Information Technology principles, software development,
proactively to the development of the unit’s tactical plans in testing and evaluation procedures and one or more specialised branches of
' business initiatives Information Technology
ectional guidance to staff and assist in the human resource _ © Thorough understanding of project management principles and techniques
iL of staff and the overall efficiency and effectiveness of the ® Good knowledge of banking environment and international standards applicable
when necessary, within a department systems development

* Graduate status preferred with minimum of 3 years’ experience in software -
development, preferably in the financial/banking industry



1 Wey Wer Renner
; ole ations to: Ms, Kimberley Clarke (Email: Kimberley. Clarke@firstcaribbeanbank. com)

ILITIES: QUALIFICATION & EXPERIENCE:
| \'| customer service and call centre operations and performance for —* Bachelor’s degree required; Master’s a plus
! Services _ © Over 10 years of progressive experience in customer care, including call centre,
‘leadership to develop a comprehensive shared customer service collections and customer retention management
‘lure to include call centres and/or multichannel contact centres * At least five years’ experience within the card business. Proven track record in
| istCaribbean Card pertfolio across the Caribbean. markets. effectively running bank operations with wide experience of working towards and
ible for developing, implementing, and optimising strategies to achieving service targets
rid class service levels, promote revenue generation and cost- —* Experience leading a Customer Service function from the ground up with extensive
‘iatives, and instil continuous improvement and innovation management of large diverse groups in multichannel, multiproduct, distributed
fective development of operauietia| teams consistent with the contact centre environments
trategic goals ~ * Knowledge of the political and economic environments and the financial services

industry in the Caribbean region

e in-depth knowledge of Card products and services, including card association
operating rules and regulations, chargeback processes, fraud schemes, and
settlement procedures

* Strong customer relationship orientation with superb analytical capabilities

* Robust project management skills



QUALITY (Based in Barb:

plications to: Ms, Kimberley Clarke (Email: Kimberley.Clarke@firstcaribbeanbank.com)

‘BULETIES: QUALIFICATION & EXPERIENCE:

' for managing the development, performance monitoring, * Bachelor’s degree required; Master’s a plus
‘tion of credit policy, risk and fraud strategies related to credit * Over 10 years of experience in Risk Management in the Card business

i, delinquencies, fraud mitigation, compliance, and card ¢ Detailed understanding of Credit Risk, Fraud, Operational Risk, Business Risk, PC

Security

‘able for legal and regulatory compliance associated with all * Proven track record in effectively running Card operations

tivities. Additionally, this position is responsible for ¢ Experierice in staff management and motivation

J eee and monitoring risk and fraud systems and e Experience in managing third-party relationships

» ensure that the appropriate InHresICEAe) is in place to * In-depth knowledge of scheme operating rules and regulations, scheme security
inage the portfolio regulations, card products and services, card operations, and fraud schemes

¢ Solid communications skills including presentations, writing and negotiation skills

* Knowledge of the political and economic environments and financial services
industry in the Caribbean

¢ Working knowledge of credit-scoring tools



_FIRSTCARIBBEAN

INTERNATIONAL. BANK

“GET THERE. TOGETHER.

SN esd
WEDNESDAY, MARCH 28, 2007, PAGE. 7

THE TRIBUNE



MANAGER - MARKETING & PRODUCT DEVELOPMENT (Base

Address applications to: Ms. Kimberley Clarke (Email: Kimberley. Clarke@firstcaribbeanbank. con

RESPONSIBILITIES: QUALIFICATION & EXPERIENCE:
* Development and implementation of acquisition, activation/use and ® Bachelor's degree required; Master’s a plus
retention initiatives for Card products includirig Credit and Debit Cards ® Over 10 years of experience in Marketing in the Card business
for the FirstCaribbean Cards portfolio across all markets * Be highly numerate with the ability to undertake financial
* Responsible for product management and new product development, analysis/modelling and business case development
and is accountable for the creation of targeted & profitable marketing ® Specialist knowledge of sales and marketing techniques and specific knowledge of
programmes for all Card products including Debit/Credit Cards across all the aclvertising industry
segments, Retail/Corporate & International ¢ Specialist knowledge of product management and new product development!
* Contributes to the long-term profitability of the Cards portfolio through ——® Solid communications skills including presentations, writing and negotiation skilis
the utilisation of tested and measurable marketing management * Ability to produce detailed annual business plans
principles and application to drive successful product ana programme * Creative and strategic thinker
delivery for both new products and customers ® Results oriented
¢ Proven experience in forecasting and costing

|
a am Le el eT acy ties cl teed Ae aes
Address applications to: Ms. Kimberley Clarke (Email: Kimberley.Clarke@firstcaribbeanbank.com) .




|
|
|



RESPONSIBILITIES: QUALIFICATION & EXPERIENCE:
* Marketing and development of both new and existing Card products for» Bachelor’s degree required; Master's a plus
the Caribbean markets throughout all stages of their life cycle, including * Over 5- 7 years of progressive experience in product management/development
product definition, development, rollout, growth, and profitability and marketing, with al least 3 years in Cards
* Develop and execute programmes to forecast and achieve sales, ¢ Demonstrated expertise in project life-cycle management and product
penetrate accounts, establish and grow market share, identify and secure deployment .
partnering opportunities, meet/exceed revenue and profit objectives, and — ¢ Be highly numerate with the ability to undertake financial analysis/modelling and
‘report portfolio performance to senior management business case development
* Strong familiarity with dependency, alpha, and beta testing for pilot and final
product releases
e Solid communications and negotiation skills
® Knowledge of the political and econornic environments and the financial services
industry in the Caribbean region



MANAGER - CHANNEL MARKETING (Bas

Address applications to: Ms. Kimberley Clarke (Email: Kim erley. arke@firstcaribbeanbank. com)

QUALIFICATION & EXPERIENCE:

¢ Bachelor's degree required; Master's a plus

* Highly numerate with the ability to undertake financial analysis/modelling and
business case development

* Specialist knowledge of sales and marketing techniques and specific knowledge
of the advertising industry

* Over 7 years’ experience in Marketing in the Card business

Proven track record in Sales and Marketing with a wide experience of working
towards and achieving targets and sales objectives

* Proven experience in forecasting and costing

® Experience in formulating policies and strategies

¢ Solid communications skills including presentations, writing and negotiation skills

® Creative and strategic thinker

* Results oriented

« Team player

* Strong project management skills

TL edie ema de eee
Address applications te: Anjanette Brathwaite (Email: Anjanette. Srathwalte@tirstcaribbeanbank: com)
RESPONSIBILITIES: QUALIFICATION & EXPERIENCE:
® Coordinate and lead Group in the oreparation of regulatory returns * Graduate and/or Banking/Professional Financial qualifications
* Review and/or prepare accurate and timely returns to the regulators * Prior experience preparing and reviewing regulatory returns
i * Assist the Manager — Regulatory Reporting in redesigning the processes of — ¢ Experience in liaising with inspectors
preparing and submitting reports to the Feguiators to attain maximum - « Good writing and verbal communication skills
efficiency within the department * Sound knowledge of Central Bank guidelines and regulations throughout the
« Ensure integrity in the information submitted to the regulators by region

RESPONSIBILITIES:

* Develop and execute acquisition and activation/use initiatives ior Card
products including Credit and Debit Cards for the FirstCaribbean Cards
portfolio across all markets

« Account for the creation of targeted and profitable marketing programmes
for all card products including Debit/Credit Cards across all segments,
Retail/Corporate & International

* Contribute to the long-term profitability of the Cards portfolio through the
utilisation of tested and measurable marketing management principles and
application to drive successful programme delivery for both n new products
and customers



designing : * Familiarity with international best practices within financial services sector
ad hoc query reports to test the accuracy of information provided and * Familiarity with managing the process of Central Bank audits/inspections
submitted * Extensive knowledge of accounting, the organisation structure and regulatory

reporting
* Management/leadership skills |
® Familiarity with International best practices within Financial Services Sector |
|



Te ee a es

Address applications to: Anjanette Brathwaite (Email: Anjanette. Brathwalte@firstcarlbbeanbank. com)

RESPONSIBILITIES: QUALIFICATION & EXPERIENCE: |
¢ Manage and lead Group in the preparation of accurate and timely ® Graduate and/or Banking/Professional Financial qualifications |
regulatory returns, ensuring that the integrity of the data that is used in the — # Strong analytical skills
preparation is not compromised ® Highly developed communication and organisational skills |
* Manage and coordinate Central Bank on-site inspections * in-depth understanding of Central Bank and Financial Services Commissions |
* Manage regulatory risks through the preparation of weekly and monthly requirements
status reports for senior management review and action » Strong leadership and team-building skills
* Analyse data that is submitted to regulators with a view to identifying ® Strong banking, accoursting/auditing and analytical background |
trends and maintaining regulatory and prudential thresholds ® Familiarity with international best practices within Financial Services Sector
| * Monitor compliance with banking regulations regionally |
|
|
|
|
|

SENIOR COMMUNICATIONS ANALYST - eas a

Address applications to: Nicole M. Griffith (Ermail: Nicole. Griffith@firstcaribbeanbank, com)
RESPONSIBILITIES: QUALIFICATION & EXPERIENCE:
* Participate in the procurement, testing, installation, training, and support of — ¢ Extensive working knowledge of specialised technical field. Relevant skills and
all communications infrastructure needs to support the institution across the abilities normally acquired through a combination of 4 years of education
region beyond high school, plus computer courses in technical specialty and/or
* Participate in the Incident Management, Change Management, minimum of 7 years in a systems field
Configuration Management, Release Management, Availability « Competence in problem resolution and an understanding of the customer
Management, Capacity Management, and IT Service Continuity impact and business needs
Management processes. Key participant in the Problem Management e Exercise some independent judgment and analysis to arrive at recommendations
process or conclusions
* Ensure that all work performed adheres to best practices and ITIL standards ® Knowledge of



Capacity Management, Availability Management, Incident

so as to ensure the end-to-end confidentiality, availability, and integrity of
FirstCaribbean's computer systems environment

* Implement a high level of automation in the infrastructure to meet business
needs in a cost-effective and timely manner

¢ Represent the department in cross-departmental projects where creative
technical guidance in the area of specialty is required

* Participate in CRP exercises and provide CRP script updates when necessary

¢ Develop innovations or improvements in area of specialty that will result in
changes to current methods, procedures and processes

| « Implement changes based on client and customer readiness as well as

systems readiness in accordance with established change management

process

eT pun eae ats Pree - ts
no later al 2nd edo maa Sra

Management, Problem Management, Change Management and Configuration
Management

® Ability io assess risk and reward to prioritise team work and avoid SLA breaches

© Considerable knowledge in Telephony infrastructure including supporting PBXs
and Key Systems

* Comprehensive knowledge of the Time Division Multiplexing, SIP and H323
protocols

« Knowledge of Cisco, Nortel, or Avaya VOIP infrastructures required

e Familiarity with resource monitoring and measuring tools

° Banking processes and procedures and good knowledge of banking products

© {TIL best practices including IT Service Management essentials (understanding
and meeting customer expectations, maintaining service levels)

¢ Auility to assess risk and reward to prioritise team work and avoid SLA breaches

a aT HR OLN UISI51 2.

INTERNATIONAL. BANK®

«GET THERE. TOGETHER.


PAGE 8, WEDNESDAY, MARCH 28, 2007





The long history in our country
of ‘anchor project’ development

TOUGH CALL

-ARRY SMITH

HE so-called ‘anchor
orcoject’ model of

development is a hot-button
tupic these days — critics say
we are selling our birthright to
foreign speculators for a mess of
pottage.

But this model is not new. It
dates back to the early years of
the 20th century. And most
examples in the out islands have
failed, often leaving derelict
buildings and environmental
havoc in their wake.

Although the ‘anchor project’
policy was codified by the Pin-
dling government in the late
1970s, the idea actually origi-
nated in response to the new-
found prosperity generated by
bootlegging i in the 1920s.

uring prohibition, liquor
was profitably smuggled in huge
quantities from the Bahamas to
the United States, and since
West End and Bimini were
nearest to the American main-
land — that’s where the first
out island resorts appeared.

‘Phe 100-room Bimini Bay
Red and Gun Club opened in
1920 with its own power plant.
It employed scores of locals, but
never made a profit. And with-
in:a:few years it was abandoned.

At about the same time, hun-
dréds of square miles on sparse-
ly*populated Grand Bahama
were leased to foreign investors
who were supposed to build a
deep-water port and network
of-Foads at West End. But the
paaject never got off the

giGund.

evertheless, contem-
porary writers
petioved that Grand Bahama’s
proximity to the affluent Flori-
da enclave of West Palm Beach
“simply begged” for a casino
and exclusive residential resort
development:

“Grand Bahama could be the
mecea-of quite a sporting and
yachting fraternity,” a govern-
ment publication enthused in
Raat?





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1931. “Estate developments are
underway (and) developers
have cast their eyes on this fer-
tile island.” But the great
depression put an end to these
early ambitions.

After the Second World War,
tourism was revived by inter-
national air travel. British
investors launched a 500-room
holiday village at West End,
which operated for just one sea-
son before closing in 1950. Iron-
ically, that was the year the gov-
ernment began promoting



by Robex, an American
Express subsidiary, to build a
mega-resort on this property in
the 1980s foundered — but not
until much dredging and land



As our second city, Freeport
has always been something of
an enigma and has never lived
up to its potential, mostly due
to government neglect and
hostility. Nonetheless, it seems
clear that this is where we
should be putting most of our

eggs.



resort development throughout
the islands.

A few years later, the Port
Royale development on South
Bimini got underway with a 38-
room inn, marina, canals and
other infrastructure on 95 acres.
Although construction contin-

- ued in fits and starts, there has

never been any widespread
interest, and many properties
are derelict today.

Port Royale was succeeded
by other developments, but nei-
ther Buccaneer Point nor Bimi-
ni Sands prospered. Meanwhile,
the original.1920s era fishing

camp at Bimini Bay had accret-

ed (through several owners)

‘into a 700-acre estate — com-

prising about two thirds of the
north island. Grandiose plans

moving forward >

clearing had taken place.

(): Abaco, Bahamian
Leonard Thompson

leased 930 acres of Crown land
in 1957 to develop the Treasure
Cay Resort with American
investors. It eventually opened
with its own airport and marina
in 1963; but never took off. Ger-
man-Bahamian investor Lud-
wig Meister bought it in 1982,
and although the hotel later
closed, the marina (with 93
rental units), golf course and
adjoining residential estate con-
tinued to operate successfully
as Abaco’s tourist and second
home economy boomed.

In 1960, six out of seven visi-
tors came to Nassau, but that

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began to change as Freeport
developed. The government had
leased 80 square miles of Grand
Bahama in 1955 to an Ameri-
can in return for construction of
a deep-water port and industri-
al zone. Five years later the
Grand Bahama Port Authority
acquired another 200 square
miles and embarked on a resort
development called Lucaya.

The 1960s were boom years
for both America and the
Bahamas. And according to his-
torians Gail Saunders and
Michael Craton, this led to “the
most rapid phase of land dis-
persion in Bahamian history.” It
also produced huge title con-
flicts— many of which are still
ongoing today.

The Bowe estate on Exuma
was one example. Attempts by
the Bahamian owner to sell
4,000 acres in the centre of
Great Exuma to a Florida
developer led to a complex legal
battle. Eventually, roads were
carved out of the bush for a res-
idential resort subdivision. But
the planned development never
materialised.

“Within 20 years,” wrote
Saunders and Craton in
Islanders in the Stream, “the
Forest Estate had reverted to
bush, except for a dozen scat-

forced to cancel scores of real
estate, construction and com-
mercial contracts, resulting in
zero turnover until well into the
‘90s, when the Ingraham gov-
ernment liberalised the foreign
investment regime.

Although the Pindling regime °

had paid expensive foreign con-
sultants to produce the Family
Island Master Plan recom-
mending development of
anchor projects on key islands,
the economic tailspin caused by
widespread drug trafficking,
official corruption and restric-
tive investment policies, com-
bined with recession in the
United States, meant that vir-
tually no new developments
were being considered in the
late 1980s.

remained in economic
decline until investor confidence
was restored in the mid-90s. It
was only then that we began
hearing renewed talk about
anchor projects.
Unfortunately, the first to
materialise was a new mega-
development at Bimini Bay,

E fact, the out islands

‘whose 700 acres were acquired

by a Miami investor in 1997.
Plans called for extensive devel-
opment on uninhabited, pris-
tine east Bimini, including a 150
slip marina, airport, golf course,
resort centre and high-density
residential estate.

As the Bahamas became a
more desirable place to do busi-
ness — and as coastal real estate
opportunities dwindled in near-
by Florida — new projects got



Rapid and uncontrolled
growth on New Providence has
produced social problems that
include housing shortages, —
pollution, infrastructure break-
déwn and violent crime.



tered new homes occupied for a
few months a year and the areas
cleared, planted and grazed by a
new generation of squatters
from the original settlement.”

he ‘heads of agree-
ment’ for Freeport

_included the right to adminis-

ter, plan, develop and license
businesses on the island — and to
be exempt from all taxes for up
to a century. Critics said the
government had “subcontracted
its responsibility and surren-
dered its sovereignty”.

But Freeport managed to
achieve some momentum. A
harbour, highway and airport

. were built, along with the city

itself. A cement plant, an oil
terminal and other industries
followed, along with hotels, casi-
nos, resort amenities and resi-
dential estates.

The experience of most other
out island developments has
been mixed.

Many came on stream during
the boom years of the 1960s and
early 70s. When Tough Call
worked for the Bahamas News
Bureau back then, one could
travel the entire island of
Eleuthera stopping at resorts
all along the way — from the
Current Club to the Pineapple
Club, to the Potlatch Club, to
French Leave, to Winding Bay,
to Windermere to Cotton Bay,
to the Rock Sound Club to
Cape Eleuthera. Most are now
either shuttered or shadows of
their former selves.

IF 1963 a German investor
(who had been involved
with the Freeport oil terminal)
bought 2500 acres on North
Long Island and opened the
Stella Maris Inn two years later.
The husband and wife team of
Gaby and Jorge Friese have
been running it ever since. A
44-room dive resort with an
adjoining residential estate, it
is one of the few out island ven-
tures to have achieved relative
stability.

But that was not without dif-
ficulty. From a position in the
early 1980s as the main employ-
er on Long Island, the resort
faced bankruptcy after 1983,
when the Pindling government
introduced a restrictive land
sales policy “requiring applica-
tions that would not be
processed.”

As a result, Stella Maris was

underway: Emerald Bay on
Exuma, Winding Bay and Bak-
er’s Bay in the Abacos, a huge
residential resort marina pro-
ject on Rum Cay, a 10,000-acre
residential resort on Mayaguana
and several revived projects on
Eleuthera.

But unlike in the past, this
renewed economic activity in
the out islands generated
resentment and protest from
both environmentalists and
local communities.

Comments by Bimini-based
marine biologist Samuel Gru-
ber, writing in the Bahamas
Journal of Science in 2002,
could easily apply to other
islands: “Vast plans for attract-
ing large numbers of wealthy
visitors to Bimini through large
and ‘appealing’ resort com-
plexes have ended in failure
time and again. Bimini, like
much of the Caribbean region,
is littered with failed and
uncompleted resort projects.”

He added that “only small
resorts that cater to the cus-
tomer appreciative of the local
culture, quiet charm, fishing tra-
ditions, small size and/or natur-
al beauty of Bimini appear to
enjoy any success. Bimini was
never meant to be a five-star,
global destination. Modest facil-
ities have survived when others
such as Robex’s Bimini Bay and
Buccaneer Point have passed
into history, often before they
were completed

“Further, the creation of even
a single mammoth project in
Bimini may destroy forever the
very essence of that which lures
the boating, fishing and diving
enthusiasts.”

(): Abaco, however,
anchor projects dat-

ing from the 1960s do seem to
have helped the island achieve
growth. As historian Steve
Dodge wrote: “Owens-Illinois
and Treasure Cay, the automo-
bile and the speedboat, and the
influx of well-to-do foreigners
who built vacation homes, as
well as poor Haitian immi-
grants, all transformed Abaco.”

(Owens-Illinois ran a logging
operation and sugar cane plan-
tation on Abaco; building roads,
housing, freight terminals and
other infrastructure.)

So where does this leave Nas-
sau — which is over-populated,
congested and suffering from
such a lack of planning and
enforcement that quality of life
issues are reaching unprece-



THE TRIBUNE

x2 ev

+ ak

dented levels? Rapid and.
uncontrolled growth on New '
Providence has produced social '
problems that include housing : ‘
shortages, pollution, infrastruc- ‘
ture breakdown and violent |
crime.

One solution that has béen’
suggested over the years is to:
build an artificial city on Andros '
— either as a new administra- ,
tive capital or a university com- ‘

“plex. But the political will and °

investment involved to achieve |
this would be enormous, and '
the record of both the Bahami- '
an government and similar pro-
jects elsewhere leaves little
room for optimism.

There remains the 50-year-old |
city of Freeport where, as lawyer '
Fred Smith says, we could drop
hundreds of million of dollars to
good effect: “Not on a small cay
in the middle of nowhere; where
there is minimal economic.
impact, where we get nothing in
taxes, where we destroy the envi-
ronment, and where the local
people do not want it.”

(): Grand Bahama
there are miles of

beaches and paved roads; with
infrastructure already in place in
a master plan designed for
300,000 people, including under-
utilised canals, golf courses,
marinas, and an international
airport and harbour. And more
to the point, there is a large
work force hungry for business
and eager to see development
happen.

As our second city, Freeport
has always been something of
an enigma and has never lived
up to its potential, mostly due to
government neglect and hostil-
ity. Nonetheless, it seems clear
that this is where we should be
putting most of our eggs.

But some argue that a. com-
plete change of direction is
required: “We need to go back
to the original template for.
Freeport,” Fred Smith says.
“Government should take a
hands-off approach to the Port
Authority, which should be held
accountable for development
and municipal responsibility. If
we open the doors that were
closed in the late 1960s we will
see an unprecedented boom.
Everything is here.”

According to this view, if
investors want incentives and
exemptions they should be
directed to Freeport, where we
are trying to create critical mass.
The out islands should be
reserved for small develop-
ments and investors should
negotiate directly with local
government authorities.

“Everything doesn’t have to
end up on the Cabinet table in

. Nassau,” Smith says. “If I want-

ed to develop land in Florida, I
wouldn’t go to Jeb Bush in Tal-
lahassee.”

he fact is that big resi-

dential resort develop-
ments on the out islands have
appeared throughout our recent
history — under colonial
authorities, the UBP, the first
PLP, the FNM and the current ~
PLP. But they have been imple-
mented largely without due care
and attention. And most have
failed as a result.

Both politicians and investors
have a lot to learn from this
track record.

What do you think? Send
comments to larry@tribuneme-
dia.net. Or visit www.bahama-
pundit.com

The )

-Way
Test
of things we
think, say or do

1. Is it the TRUTH?

2.\s it FAIR to all
concerned?

3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?

4. Will it be
BENEFICIAL to
all concerned?

www. rotary.org
Ny

| THE TRIBUNE | WEDNESDAY, MARCH 28, 2007, PAGE 9

TST aa
| = ; RBDF Band

hits the
right note
for ‘defining
moment’

THE Royal Bahamas
Defence Force Band held its
first concert, "Our Defining
Moments", on Friday, March
23 at the National Centre for
the Performing Arts on
Shirley Street. The concert
was held under the patron-
age of Cynthia Pratt, deputy
prime minister and minister
of national security. From
left are Commodore Clifford
Scavella, commander of the
Defence Force; Deputy
Prime Minister Pratt; Prime
Minister Perry Christie; and
Joseph Pratt, husband of the
deputy prime minister.




















(BIS Photo:
Raymond Bethel)

i CHOSEN
Dance
Troupe of
Trinity
Assembly
participating
in the
concert.

(BIS Photo:
Raymond
Bethel)

(BIS Photo: Raymond Bethel)

B SECOND
Clarinet,
Woman
Marine
Lashanna
Williams.

(BIS

Photo:
Raymond A
Bethel)



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The Bahamas Diabetic Association
PAGE 10, WEDNESDAY, MARCH 28, 2007



WEDNESDAY EVENING MARCH

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THE TRIBUNE :.°

=

See

40 |




Let Charlie the
Bahamian Puppet and

his sidekick Derek put og











OY p



some smiles on your

kids’s faces.








Bring your children to the
McHappy Hour at McDonald's in
Palmdale every Thursday
from 3:30pm to 4:30pm during the
month of March 2007.




Enjoy Great Food, Prizes and Lots of Fun.

{T\

i'm lovin’ it


THE TRIBUNE

WEDNESDAY, MARCH 28, 2007, PAGE 11



Identified
FROM page one

the main Barbary Beach
highway.

Inside a burgundy
coloured 1999 Buick Regal,
police discovered the body
of a man dressed in a pait
of jeans and a black shirt,
slumped back in the driver's
seat.

There was a visible injury
to the torso, and the body
appeared to have been dead
for at least 12 hours because
rigor mortis had set in.

Police are awaiting the
results of an autopsy to
determine the cause of
death. Officers of the Cen-
tral Detective Unit are ques-
tioning three persons in con-
nection with the death.

Darold
Miller

FROM page one

that “it is a sad day when a
newspaper said to be as great
as yours would print some-
thing that appears to be a
defaming smear rather than
hard facts.”

In last Saturday's paper
and again in yesterday’ s edi-
tion, The Tribune reported
information that was sup-
plied by the police — namely
that a sexually related com-
plaint had been made by
three women against Mr
Miller.

Although further details
on the matter were conymu-
nicated to the reporter who
produced the story, the laws
governing such matters pre-
vented the printing of this
information.

A senior police officer said
yesterday that officers were
now in the process of inves-
tigating the various aspects
of the complaint and had
already interviewed some of
the women involved in the
case.

The officer said that Mr
Miller will also be inter-
viewed by police at a later
date.

Mr Miller stated yesterday
that “no weapon formed
against me shall prosper and
with the help of almighty
God I shall overcome this
obstacle in the way of my
forward progress.”

Following The Tribune’s
report on Saturday that three
women, who had filed a com-
plaint against Mr Miller at
CDU on Thursday, was
accompanied by a prominent
Bahamian, the Darold Miller
radio talk show was taken
off the air on Monday.

The radio station GEMS
105.9 announced that the
show will not be broadcast
“until further notice.”

ine Id Truck one ei

5 BAY Citas baa
oe PPE SUPE. a

eveloper claims
Ministry ‘victimising’
people who have bought
home lots from him

FROM page one

“It is our responsibility to. Haeward, “The ministry

Ines eN TOM ett

comes to his dealings with the
government and has as a result
been involved in many lawsuits.

“Because of this history Mr
Haeward was asked to pro-
duce certain documents in
reference to the interior lots
and he refused. That’s when
he started talking about suing
government,” the spokesper-
son said.

The spokesperson also
claimed that the ministry has
collected evidence that shows
that Mr Haeward was selling
lots in the area before he
applied for the necessary
approvals to create a subdi-
vision.

HMPA TIN
LRRITICIOMNEN
FROM page one

An autopsy report confirmed






that a combination of drugs,
including methadone, was pre-
sent in his System at the time of
his death.

Representing the interests of
Howard K Stern is Bar
Association president Wayne
Munroe, who is assisted by his
colleague, Mr Anthony Mckin-
ney.

Representing Virgie Arthur,
the grandmother of the
deceased, is Debra Rose, while
Godfrey Pinder represents the
interests of G Ben Thompson,
the reputed owner of "Hori-
zons", the home in which Anna
Nicole lived while in the
Bahamas.

Also present at yesterday's
proceeding was Cara Butler,
who represents Billy Smith, the
father of Danicl. Makaila Sum-
ner is the in-house counsel! for
Doctors Hospital.

The matter, which is before
Chief Magistrate Roger Gomez,
is expected to be open to the
press again at 2.30pm on Thurs-
day in Court 7 in Victoria Gar-
dens.

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protect Bahamians, to pro-
tect the community, so we've
been contacting the people
who were sold lots to inform
them about what ts happen-
ing,” the spokesperson said.

Mr Haeward yesterday said
that he believes the buyers
are being victimised because
of his own litigation against
the ministry.

Earlier this month, he
alleged the ministry had been
blocking his development
plans because of his family’s
FNM associations in the
past. ,

He is suing the ministry
and the attorney general,
alleging breach of statutory
duty, negligent use of statu-
tory powers and a breach of
rules of natural justice.

He is seeking damages,
which, he says, could amount
to $5 million.

Mr Haeward’s subdivision
project is at the corner of
Faith Avenue and St Vincent
Road.

The “internal” area of the
subdivision is now the sub-
ject of a legal wrangle
between him and the min-
istry, but the affected buyers
own peripheral lots that are
not part of the action.

Having bought the lots for
between $60,000 to $80,000
each, the new owners natu-
rally want to go ahead with
development.

But Mr Haeward claims
they are being obstructed in
gaining approval for their
building plans.

doesn’t like it because I push
for my rights, and I’m being
victimised because of my par-
ents’ political affiliations.”

He said there was no title
issue on the land and he had
done “everything by the
book” in applying for subdi-
vision approval.

“I am appealing to the
ministry to help these peo-
ple. All the perimeter lots are
not subject to the court
action in any way. If that
were the case, the lawyers
would not have completed
the transactions.”

He said one single mother
was vacating rented property
in May in the hope of being
in her own home. This was
now impossible, he added.

He also said he was con-
cerned for his own reputa-
tion as a developer, having
been in the business since the
early 1980s.

“TJ don’t sell bum proper-
ties. The title of any proper-
ty bought from my company
will always bear scrutiny,” he
said.

Osbourne Stuart of Adler
Realty and Investments has
written to the ministry ask-
ing why his client Ms Edvern
Thompson had been refused
a building permit even
though title had been
cleared.

And he wrote to Mr Hae-
ward himself disclosing that
he had been told outright by
a ministry official that no
land was being approved if it
was connected with Haeward



zs roy

Blockbuster Industries
Group.

“This whole thing has now
become personal,” said Mr

NEWBOLD BROTHERS
CHAPEL

#10 Palmetto Avenue & Acklins Street
P.O. Box N-3572
Nassau, Bahamas
Tel: (242) 326-5773

FUNERAL SERVICE FOR

GLENDINA
ROLLE-
BISPHAM, 50

of Pinewood Gardens
will be held on Saturday,
March 31, 2007 at 11:00
a.m. at First Baptist
Church, Market Street
and Coconut Grove
Avenue. Officiating will
be Rev. Earle Francis,
assisted by Rev. Diana
Francis. Interment follows in Woodlawn Gardens
Cemetery, Soldier Road.












































Cherished memory will forever linger in the hearts of
her mother, Ocie Rolle; children, Durrall Rolle and
Tateka Lowe-Canter; husband, Ervin Bispham; sisters,
Vandamae Manson, Susan Rolle and Alice Smith;
brothers, Stanford, Willis and Thomas Rolle; son-in-
law, Jermaine Canter; daughter-in-law, Desiree Evans;
brothers-in-law, George Manson and Edward
Richardson; sister-in-law, Pam Rolle; nephews, Dwayne
Rolle, Torino Manson, Bruce Adderley, Akeem
Colebrook, Jarad Rolle, Tony Richardson and George
Manson Jr.; nieces, Shakera Adderley, Tameka Manson,
‘Briesha Smith, Georgette Manson, Briniqua Smith and
Lachea Strachan; grandniece, Brentinique McPhee:
aunts, Anniemae Smith, Beulah, Ladoris, Evelyn, Annie
and Geneva Lloyd; uncles, Raymond, Cecil, Newlon
LLoyd, Nathan Smith and Victor Rolle; other relatives
and friends including, Apostle Genva Ferguson,
Prophetess Jessiemae McPhee, Linton, Gisela and
Phyllis Holder of New York, the management and staff
of Cafe' in the Clouds, staff and doctors of Female
Medical II, staff and doctors of ICU Princess Margaret
Hospital, management and staff of Floyd's Cafe’; also
the following and their families, Sue Decosta, Judy
Rolle, Cinetta Evans, Mary Canter, Deborah Stuart,
Grantly Laing, Ethel Lloyd, Janice Rolle; the entire
McKenzie and Barraterre families; the entire residents
of Pinewood Gardens and numerous family and friends
too numerous to mention.

Relatives and friends may pay their last respect at
Newbold Brothers' Chapel, Palmetto Avenue and
Acklins Street off Market and East Streets on Friday
from 10:00 a.m. to 6:00 p.m., on Saturday at the church
from10:00 a.m. until service time.




Immigration policy
FROM page one

them,” Mr Reginer said.

However, the lawyer concedes that Haitians have been using
fraud as a means of entering the Bahamas.

There are instances where people have been born in the
Bahamas, deported to Haiti and during their time there, died of
malaria. This document then falls into the hands of another per-
son who swaps their identify with that of the dead
child and attempts to use that birth certificate to enter the
county.

Because of instances like this, Bahamian officials find it safer
to assume that every document coming from Haiti is fraudulent.

“We acknowledge that there has been some instances of
fraud but that does not authorise the Bahamian government to
deny others the right to return to the Bahamas,” Mr Reginer

said.

He said that there is no trust between the two governments
as far as documents are concerned and while these documents
can be certified by the Haitian embassy or the Ministry of For-
eign Affairs of the Haitian government, if a document is not cer-
tified by the Bahamian Consulate in Haiti it is not accepted by
the Bahamian government.

“Therefore it is virtually impossible for these people to assert
their rights to citizenship by way of documentation,” Mr Regin-
er said.

The lawyer said that he has another client who has been in the
detention centre for over 22 days.

The man was born in the Bahamas and went to Haiti at the
age of one. The travel document that he carries has not been
renewed since then.

While the legitimacy of the documentation he carries is not in
question, he has run afoul of the authorities because he entered
the country illegally.

However, Mr Reginer said that he had no other choice but to
do so in order to be present in the Bahamas to apply for citi-
zenship in time for his 18th birthday.

“They propose that he goes to Haiti and returns legally. He
has no document that allows him to do that and he cannot
renew the documents he has while he is in Haiti because there
is no one there to renew it.

“He is perpetually frustrated. In these cases you find that the
18th birthday comes and then the 19th birthday so by the time
they get here it is too late by the terms of the Act, to apply for
citizenship,” he said.

Report: man dies of gunshot wound

REPORTS were coming in late last night that Javon Woods-
Hepburn, in his early 20s, died of a gunshot wound on
Carmichael Road yesterday evening.

Early reports suggest that he was cleaning a gun when it
went off. Police are investigating.

Share your news

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

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

KEMP'S FUNERAL HOME LIMITED

22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas

aT

ANTHONY
JOHN AGEEB,
89



























of Nassau, The
Bahamas who died
peacefully at The
Princess Margaret
Hospital on Sunday,
March 18, 2007, will
be held at St. Anselm's
Roman _- Catholic
Church, Bernard Road,

Fox HII], Nassau on
Friday, March 30, 2007 at 10:00 a.m.

Monsignor Preston A. Moss will officiate and
interment will be in The Catholic Cemetery,
Infantview Road, Nassau.





He was predeceased by his parents John and Mary |
Ageeb, two sisters, Gloria and Theresa Ageeb and
his brother, Arnold Ageeb.

























Mr. Ageeb is survived by two brothers, George and
Charles Ageeb; two sisters, Rosemary Ageeb and
Kathleen Winchell; three sisters-in-law, Gloria,
LaVerne and Karen Ageeb; four nieces, E.J. Marie
Ageeb, Lupita Ageeb-Rolle, Angelique Priore and
Michaelene Ageeb; I1 nephews, Jose, Thomas,
Antonio, Bernard, John, Gregory, Ashley, Mark,
Edward, Brian and Christopher Ageeb; nine great-
nieces, Jazmin and Isabella Ageeb-Rolle, Lizbeth
Ageeb, Heather Priore, Stephanie, Rebecca, Dana,
Erin and Jenna Ageeb; eight great-nephews, Shentol
and Jonathon Ageeb-Rolle, Joshua, Thomas, Joseph,
Daniel, Andrew and Jordan Ageeb and Michael Priore
and his co-captain Shelton Rolle.

Tony had a wonderfully soft heart which he hid under
a grouchy exterior. He loved going to the beach and
fishing and loved to play cards. He had a wicked
sense of humour and a sharp tongue and loved to
tease. He could (and often did!) spend an entire day
at Dunkin Donuts shooting the breeze and flirting
with the ladies there. Family was very important to
him and for some of us he was more than an uncle
and he will be deeply missed.

Relatives and friends may pay their last respects at
Kemp's Funeral Home Limited, 22 Palmdale Avenue,
Palmdale on Thursday, March 29, 2007 from 4:00
p.m. to 6:00 p.m.
_\ PAGE 12, WEDNESDAY, MARCH 28, 2007 THE TRIBUNE:



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a try of Foreign ‘Affairs:
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9:30 a.m. Launch of The Bahamas Learning Channel
Choices Restaurant, ,
College of The Bahamas, Thompson Blvd.

10:30 a.m. Panel Discussion: Choices Restaurant
“Impact of the African Presence in Bahamian
History”.



Hon. Alfred M. Sears , M. P.,
Minister of Education, .
Science &Technology ; Panelists:

Dr. Gail Saunders Director General of Heritage

Dr. Thaddeus McDonald
Dean of the School of Education & Social
Sciences, College of The Bahamas.



1:00 p.m. Commemorative Luncheon / Lecture:
Hon. Grace Naledi Pandor,
Minister of Education, South Africa.
British Colonial Hilton Hotel,
Bay Street, Nassau, The Bahamas.



Hon. Frederick A. Mitchell, M.P.
Minister of Foreign Affairs and 6:30 p.m. Distinguished Lecture:

The Public Service . f .

| Mr. George Lamming, Caribbean Novelist & Poet.
British Colonial Hilton Hotel,
Bay Street, Nassau, The Bahamas.



Cultural Tour: Hon. Grace Naledi Pandor,

Minister of Education, South Africa.

3:00 p.m. Joint Cultural Event with Fox Hill Community
Organization: Service / Entertainment/

| Preceded by -

en eee argc! bape? March led by Royal Bahamas Defence Force

Minister of Education
South Africa ~. Junkanoo Rush-Out





Dr Gail Saunders Mr. George Lamming Dr. Thaddeus McDonald

Director General of Heritage Caribbean Novelist and Poet Desh or the sonect es Euueae
and Social Sciences, COB


WEDNESDAY, MARCH 28, 2007

SECTION



business@tribunemedia.net

Miami Herald Business, Stocks, Analysis, Wall Street



- The Tribune

BUSI









Jibei

HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE

Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010





Hotel concern on Bahamas in market
business decline | access offer to EU

2007 first quarter occupancies down, and ‘considerable loss of
business’ in summer possible due to WHTI and other factors

m@ By CARA BRENNEN-
BETHEL
Tribune Business Reporter

ctel occupancy levels
‘ have dropped for the
2007 first quarter, the

Bahamas Hotel Association said
yesterday, admitting that the
Western Hemisphere Travel Ini-
tiative (WHTI) has been a factor
and that there could be a consid-
erable decline in tourism business
during the summer months.

The BHA’s president, Russell
Miller, said there were challenges
to be overcome, although he
stressed that the Association did
not want to appear as prophets as
doom.

“It is not across the board, but
collectively when you look at it, it
has this slight decline,” Mr Miller

said in reference to hotel occu-°

pancies. “But some hotels have
shown considerable increases and
others have shown some decline,
so overall the picture is that the
numbers are down, but not dras-
tically.”

He noted that while hard to
predict, “we believe there is
going to be even greater impact in
those summer months, when it is
family-related travel. For fami-
lies who are required to have
passports and don’t have them
now, there could be a delay in
that. So although it is difficult to

quantity, there could be consid-
erable loss of business in the sum-
mer months.”

The Tribune reported this year
that a number of hotels had seen
between 4 per cent to 10 per cent
declines in occupancy rates com-

pared to the same priod in 2006, ’

part of the year that is tradition-
ally the busiest for the Bahamian
hotel and tourism industry.

Mr Miller pointed out that the
WHTI initiative had produced a

number of related factors that |
-added to the decline, mainly the

fact that more cruise lines (whose
US passengers do not yet have to
meet WHTI requirements for
passports to return to their home-
land) had discounted their prices
to the Bahamas to shore up initial
softening in Caribbean demand.

Other factors, he said, included
the fact that the US Virgin Islands
and Puerto Rico have seen
increases in arrivals, and have
promoted their competitive
advantage as being part of the
WS;

Certain travel segments will
continue to be monitored closely
by the BHA, particularly Spring
Break travellers, families and
impulse travellers.

Mr Miller said the US State
Department’s recent announce-
ment that it could take at least
10 weeks to secure a passport will
also have an impact on visitor



‘Secret’ Stamp taxes prejudice
environment for business

@ By NEIL HARTNELL
Tribune Business Editor

BOTH FNM and PLP govern-
ments have “secretly and steadily
created a huge revenue base”
through increasing Stamp Taxes
over the past 17 years, a Grand
Bahama Port Authority licencee
told The Tribune yesterday, argu-
ing that the introduction of 4 per
cent Stamp Duty on the assets of
businesses being sold had “preju-
diced the business environment”.

Responding to a report for the
CARICOM Secretariat, which
revealed that Stamp Tax accounts
for a percentage of total Bahami-
an tax revenues that is more than
double that for any other CARI-
COM member, Fred Smith, attor-
ney and partner with Callenders
& Co, described this tax as “a
Trojan Horse” through which the
Government had been able to tax
all form of business dealings and
transactions.

Mr Smith said: “Sadly, our gov-
ernment has been imposing a
huge tax burden on business.
Today, legal practitioners are try-
ing to find all kinds of imaginative
ways to mitigate the impact of
taxation.

“This has a very prejudicial
effect on business. If affects multi-
national asset redistribution, it
affects corporate transactions, it
affects mergers, it affects acquisi-
tions, it affects the international

"reorganisation of companies, it
generally creates a hurdle to free
enterprise.”

In business transactions, the 4
per cent Stamp Tax payable on
the assets being sold during merg-
ers and acqusitions, coupled with
the 10 per cent payable on real
estate and land, added up toa 14
per cent tax, Mr Smith said. Asa
result, “many otherwise sensible
business transactions are not
undertaken”.

“This Stamp Tax is killing the
Bahamas,” Mr Smith said. “In
most other jurisdictions, as the
consideration increases, the
amount of tax payable: decreas-
es, not the other way round.

“Both governments, over the
last few decades, have secrectly
and steadily created a huge rev-
enue base through this concept
of Stamp Duties.”

The August 2006 study for the
CARICOM Secretariat, written
by Eric Hutton, Don Augustin
and Lindsay Hodder, concluded
that the Bahamas’ “exceptional-
ly high reliance” on Stamp Tax
indicated it was looked upon by
the Government as a ‘stealth tax’.

For the period 1990-2003,
Stamp Duties accounted for 19
per cent of total per annum tax



@ FRED SMITH

(FILE photo)

revenues in the Bahamas — a sum
equivalent to 3.1 per cent of gross
domestic product (GDP).

Yet out of the rest of CARI-
COM, the next most reliant
nation on Stamp Duties, when
measured as a percentage of total
tax revenues, is Anguilla at 8.8
per cent, followed by Belize at
8.6 per cent.

And this was before the Gov-
ernment introduced the 4 per cent
Stamp Tax on the assets of busi-
nesses being sold.

“I am glad that the surrepti-
tious and stealth taxation nature
of the increase in Stamp Duties
has been acknowledged and

recognised by independent and

disinterested observers,” Mr
Smith said.

He added that it showed that
while the Government insisted it
had not raised or implemented
new taxes, tax increases were
being imposed on the Bahamian
people.

Mr Smith said Stamp Tax had
“historically been paid on docu-
ments, deeds and instruments”,
not used as a revenue-raising
mechanism. He added that the 4
per cent tax levied on Bahamian
businesses involved in acquisi-
tions “is of a completely differ-
ent nature to the Stamp Tax on
instruments”.

“Every transaction involving
the sale of land, realty, recciv-
ables, goodwill - any sale of any
asset is charged at 4 per cent of
the value, in addition to Stamp
Tax on the instruments,” Mr
Smith said.

Apart from this levy and the
10 per cent payable on real estate,
Stamp Tax is imposed on goods

SEE page 5B

arrivals, as the problem of a sys-
tem backlog is likely to continue
well beyond this year.

He said other factors impacting
the Bahamas’ stopover arrivals
and occupancy decline included a
a softening of the US economy,
the unseasonable mild winter, and
the fact that Cancun - which was
uncompetitive last year due to
Hurricane Wilma - has rebound-
ed and received a $1.5 billion
facelift.

Mr Miller pointed out that
recent changes occurring at the
Cable Beach Resorts, such as the
$80 million conversion of the
Radisson into a Sheraton, had
created a reduction in room,
inventory, which may have cre-
ated buyer reticence as whole-
salers, travel agents and tour
operators became aware of the
construction.

“The rebranding of the Radis-
son property from an all-inclu-
sive may also have had an
impact,” Mr Miller added.

“Whether our first quarter
results are a trend or an anom-
aly remains to be seen. External
factors like the WHTI, the US
economy and competition -influ-
encing these things is beyond con-
trol,” Mr Miller said.

Factors within the: Bahamas’
control include creating an
improved airport; upgrading of
resort properties; value for mon-
ey; improved marketing and pro-
motion; adjustments to the fishing
regulations; a greater commit-
ment to partnership and collabo-
ration.

Frank Comito, the BHA’s
executive vice-president, said the
decline tthat hotels see is not dra-
matic.

“It’s slight. The question is
whether it is a trend and whether
it will accelerate, bul the
Bahamas has seen far worse quar-
ters in its history,” he said.

Stopover visitors are the most
important component of the
Bahamian tourism economy, as
their per capita spend is more
than $1,000 - far higher than the
average $73 per head spent by
cruise visitors to Nassau.

li By NEIL HARTNELL
Tribune Business Editor

he Bahamas submitted
its initial market access
offer to CARIFORUM,

the group negotiating the Eco-
nomic Partnership Agreement
(EPA) with the European Union
(EU), at a meeting in Barbados
last week, sources told The Tri-
bune, with this nation facing sig-
nificant challenges and opportu-
nilies in preparing its laws and
business environment for this and
other rules-based trading regimes.

The precise details of what the
Bahamas submitted to CARI-
FORUM are unclear, although
this nation is secking chiefly to
protect its main exporting indus-
tries to the EU - Bacardi’s rum,
the seafood and fisheries indus-
tries, and Polymers International.

The Bahamas and other
CARICOM nations have the
ability to exclude up to 15 per
cent of their goods, industries and
economic sectors from the EPA
market access talks, preventing
these areas from being fully lib-
eralised and opened to competi-
tion and tariff cuts.

There are essentially three *bas-
kets’ for goods in relation to the

EPA and tariff cuts - those prod-

ucts that will instantly have te
tariffs cut lo zero per cent;

phased basket; and a basket for
excluded items. There are three
time periods over which goods in
the phased basket will have their

- tariffs cut - zero to five years; five

to 10 years; and 20 years - and
these industries opened up to
competition,

A briefing document previous-
ly prepared for the Cabinet said
the Bahamas imported almost $43
million worth of goods from the
EU in 2004, with more than half -
some $23.254 million - confined to
16 tariff lines, nine of which were
duty free. This meant that some
$9.299 million entered the
Bahamas. duty tree.

From this, the Government
worked out that the es
duty the remaining $33.631 mil-
lion could attract was S143 mil-
lion. It has already decided to
trade-off the loss of revenues
from EU imports, which Fred
Mitchell, minister of foreign
affairs, said was likely to be less
than $10 million, in favour of pre-
serving duty-free access to EU

markets for the likes of Bacardi,
Paradise Fisheries and Polymers
International.

The Ministry of Foreign Affairs
had previously recommended
that the Bahamas seek to exclude
from the EPA negotiations cuts in
tariffs on poultry, fresh meat,
fruits and vegetables.

It added that Bahamas tariff
rates between 5-30 per cent
should be cut in the short-term,
while those of 35 per cent and
higher be slashed in a phased,
long-term approach.

But although the Bahamas may

have submitted an initial market
access offer, much work remains
to be done to bring this nation’s
laws, regulations and policies up
to standard and in line with the
demands of a rules-based trading
regime.

For instance, the Bahamas has
yet to develop a competition or
antitrust policy, and does not
have regimes for Rules of Origin,
Anti-Dumping, Countervailing
Duties and Safeguards. These are
all areas that will need to be tack-
led.

Then there is the issue of gov-
ernment procurement and mak-
ing the process of obtaining and
bidding on government contracts.
Currently, all government pur-
chases up to $50,000 can be
approved by the Minister in the
relevant mninistry, and purchases
valued at between $50,000 and
$250,000 approved by the Minis-
ter of Finance upon a favourable
recommendation from the Gov-
ernment’s Tenders Board.

All purchases valued at more
than $250,000 have to be
approved by the Cabinet, and the
Bahamas’ Memorandum of For-
eign Trade regime for 2002
acknowledged that “there is no
bid challenge mechanism in place
in relation to government con-
tract awards”.

In addition, “there is no spe-
cific law governing government
procurement practices”, with all
ministries and agencies able to
“employ any method to select a
goods or services supplier”.

The Bahamas did not make a
services offer to CARIFORUM
during the Technical Working
Group meeting in Barbados,
although it is understood that the
Bahamian delegation that attend-
ed that meeting came away with
both concerns and sights of



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opportunities.

The services talks have major
potential implications for the
Bahamian financial services
industry, as sources said the
equivalent of a Tax Information
Exchange Agreement (TIEA)
with the EU is being discussed
by CARIFORUM members.

It is likely that the EU will try
to use the EPA talks to ‘suck’ the
Bahamas into its Savings Tax
Directive, a move that would
have major implications for the
financial industry’s competitive-
ness.

The Bahamian financial ser-
vices industry’s needs and
requirements are different from
other CARICOM nations, given
its emphasis on private wealth
management and client base that
features a number of high net
worth Europeans. Many of the
major financial institutions in the
Bahamas are European-owned.

‘As it is part of CARIFORUM,
the Bahamas would be bound to
whatever agreement this body
reached with the EU, and if the
needs of its financial services
industry are not accounted for,
this sector could be badly dam-
aged.

However,.there is also under-
stood to be an opportunity for
the Bahamas to take the lead
when it comes to the EPA ser-
vices negotiations, and it is
thought this might be the best
way to protect financial services.

The Bahamas Chamber of
Commerce, sources said, was try-
ing to organise a Country Con-
sultation for April 25-27, and
invite as many businesses as pos-
sible to discuss private sector con-
cerns and wants on the EPA,

helping to develop a services offer *

for the talks.

The EPA negotiations and
their outcome are critical for the
Bahamas in its future interna-
tional trade talks and agreements,
because if it becomes a full mem-
ber of the World Trade Organi-
sation (WTO), the Most
Favoured Nation (MEN) require-
ment kicks-in.

This means that the Bahamas
will have to treat all nations
equally, providing them with the
same trade benefits and market
access as everyone else. This will °

SEE page 7B





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PAGE 2B, WEDNESDAY, MARCH 28, 2007
Le ee

Protecting tourism from terror threat

s the Romans con-
quered the known
world, one critical

issue continued to follow them
as they expanded their territo-
ries - the ability to retain and
secure their newly acquired
assets.

It is widely agreed that new

acquisitions demand invest-
ment in securing them. The
Bahamas’ continued growing
involvement in the tourist
industry can be compared to
the acquisition of new territo-
ries the Romans gained as they
progressed through central and
southern Europe, even into

The Tribune

northern Africa. Even though
today we face different chal-
lenges, the principles remain
the same.

Before we continue, it must
be emphasised that in this
investigation, Preventative
Measures’ specialty is loss pre-
vention issues and solutions,

Te Le a

= hy
i oe
*§

which for us equates to asset
protection, also known as secu-
rity. Terrorism is the loss agent
as it pertains to this series of
articles. The asset being pro-
tected is the Bahamas remain-
ing a viable tourist destination,
inclusive of investor (internal
and external) interest.

With this in mind, an April
2005 report by Abadie and

Gardeazabal, entitled Terror-

ism and the World Economy,
said that from an economic
standpoint, terrorism has four
major fallouts:

y The capital shock

2. Uncertainty

3: Redirecting resources
to security issues

4, Negative effect on
tourism

If we agree with this posi-
tion, it is fair to assume that
the investor will direct his/her
interest to the region that is
least affected by terrorism.
This, however, is easier said
than done, as the general con-
sensus with terrorism experts is
that the phenomenon is multi-
national and really knows no
borders. This complicates mat-
ters, especially when we con-
sider the fact that just-as the
investor attempts to stay away

from potential high risk areas, _

the terrorist will be attracted
to large-scale investments. An
attack on these locations will
be most beneficial to the ter-
rorist cause or statement.
This not only impacts the

INSIGHT

For the stories

behind the news,
read Insight
on Mondays







decisions of foreign investors,
but also those by the domestic
investor. Additionally, the
small investor such as the indi-
vidual tourist will reconsider
the trip to the Bahamas, so

‘both local and foreign, small

and big, investors are affect-
ed,

Jonathan Essner, in a 2003
paper for the World Tourism
Organisation, called Security
and Development, states that:
“The burden upon a state
managing a terrorism problem
may be enormous, serious and
unmanageable, particularly as
terrorists seem undeterred by
an underdeveloped set of glob-
al norms and international laws
against terrorism.”

This idea is scary, but is this
the reality of the situation? Is
the monster so big and unpre-
dictable that we are going to
be overwhelmed. It has
become apparent that a more
aggressive approach to com-
bating terrorism is necessary, if
we are to be serious about pre-
vention. Three immediate
steps should be taken, the first
of which is to define terrorist
acts specific to tourism.

It is the absence, in my opin-
ion, of a clear, definitive expla-
nation that has left manage-
ment of the threat wondering
around aimlessly. Secondly,
after this is done, we need spe-
cific penalties/legislation that
will codify all actions associat-
ed with the terrorist threat to
tourism. Finally, «an
agency/department mandated
to police this.threat is also

needed. Sounds..a bit..far

RESORY MARINA
THE BAHAMAS

THE TRIBUNE



by Gamal Newry

Safe &
Secure



fetched, you think? J refer you
to the 2000 Financial Intelli-
gence Unit Act. This newly-
formed policing agency was
developed to monitor crime as
it pertains to the financial ser-
vices industry, specifically
money laundering. The ease
by which, in my. opinion, this
unit was formed and legislated
was primarily because of exist-
ing legislation, which originat-
ed from clear local and inter- |
nationally -accepted definitions
of what constituted financial
crimes.

Does tourism need such a
specific unit? If it is the prima-
ry ‘bread and butter’ industry,
then the question should be:
‘Why haven’t we done so as of

- yet?’ Again, it is my opinion

that the global community has
not established a set standard
or perquisites for one to open a
tourist destination. Ironic, isn’t
it, that we are ready to - and
well prepared - to monitor our
wealth and that of our guests,
but not our personal safety nor
that of our visitors.

NB: Gamal Newry is the
president of Preventative Mea-
sures, a loss prevention and
asset protection training and
consulting company, specialis-
ing in policy and procedure
development, business securi-
ty reviews and audits, and
emergency and crisis manage-
ment. Comments can be sent
to PO Box N-3154 Nassau,
Bahamas or, e-mail
gnewry@gmail.com or visit us
at www.preventativemea-
sures.net

Domestic Investment Board
Presents

Ist Annual Trade Show and Expo
Soldier Road Industrial Park
Thursday, March 29, 2007
9:00a.m. to 4:00p.m.

Guest Speaker:
The Rt. Hon. Perry G. Christie
Prime Minister
Official Opening Ceremony »
11:00a.m.

The general public is invited to come and see the wide
array of Bahamian made Products.

Manufacturers wishing to display their products can
contact Mr.Kevin Simmons at Simmons Manufacturing
394-1684 /



Ambitious, hardworking and highly motivated Bahamian
couple sought to run established marina and restaurant
on Rum Cay.

Montana Holdings Ltd owners of Rum Cay Resort
Marina, currently under development have just acquired a sister
property, on the island of Rum Cay. Sumner Point Marina extends
over 26acres across the south eastern corner of the island with docking
for 30 boats up to 160 ft in length, a newly refurbished 30 seater
restaurant and guest accommodation for up to 16 persons.

Responsibilities include but are not limited to:-

e all marina, restaurant and lodging operations;

e Full P+L and budgetary accountability including F+B,
reservations and inventory control.
Oversee all maintenance and repairs
Manage housekeeping of rental villas
Supervision of staff and suppliers.
Co-ordinate Montana client visits to Rum cay
Manage Montana Sales Office on Rum Cay

Skills and Attributes

minimum 5 years prior management in a similar establishment
Excellent marine, general engineering and maintenance skills
Experienced chef or professional qualification in hotel and
catering management

Superb organisational and administrative skills

Extremely computer proficient

Highly motivated self starters who have the will and talents to
operate a challenging business in a remote location with total
autonomy

Remuneration package commensurate with experience, will include
competitive salary and benefits, return flights to Nassau, fully subsidised
accommodation.

Closing date for applications 04/04/2007.
H.R. Manager
Montana Holdings Ltd
P.O. Box N-9322
Nassau, Bahamas

Fax 677 3007


BUSINESS




upemreaep IRAE IES SEA IS CTT REST

Che : Miami Herald |

ARR EDR CI

pis ee



THE MARKETS

STOCKS, MUTUAL FUNDS, 7B

DOW 30 12,397.29 -71.78 W
Sap 500 1,428.61 -8.89 W
NASDAQ 2,437.43 -18.20 W
10-YR NOTE 461 NIC =
CRUDE OIL 62.93 +02 4

Stocks
fall on
weak
housing
data

BY MADLEN READ
Associated Press

NEW YORK — Stocks stum-
bled Tuesday as investors grew
wary when new data raised the
possibility that the nation’s
weak housing market would |
seep into the broader economy
and crimp consumer spending.

: Wall Street has been nervous _
~ lately that a drop in housing val- _
~ ues will further weaken sub-
“prime mortgage lenders, who _
make loans to people with poor _
credit, and make consumers feel _
~ Jess wealthy and rein in spend- _
ing. Consumer spending makes
up about two-thirds of U.S. eco- _
nomic activity. © =

“While the market remains
on the cautious side, there was a
nice little bounce since mid-_
March. Investors are just |
looking over their shoulders, _
wondering if the problems in |
the housing market and sub-
prime market are going to spill —

over,” said Edward Yardeni, |
president of Yardeni Research
Inc. = .
. | The Dow fell 71.78, or 0.58 :
percent, to 12,397.29. Tuesday’s _
selloff put the blue-chip index _
back into negative territory for
the year. ‘
-- Broader stock indicators also
- fell, but remain higher for 2007. _
- The Standard & Poor’s 500 —
- index lost 8.89, or 0.62 percent, _
- to 1,428.61, and the Nasdaqcom- _
- posite index declined 18.20, or _

0.74 percent, to 2,437.43. .
_ Bonds were little changed
‘Tuesday. Investors were weigh-

__ ing the decline in home prices _
- against the specter of inflation, _
sparked by speeches by Fed |
officials Sandra Pianalto and —
‘Michael Moskow, who both |
_ touched on monetary-policy |
issues. s
The yield on the benchmark a
10-year Treasury note was at
4.61 percent, the same as late S
Monday.

The dollar was lower against
the euro and yen. Gold prices
also slid.

Crude oil prices rose 2 cents
to $62.93 a barrel on the New
York Mercantile Exchange.
Gasoline prices have’ risen
sharply in recent weeks, giving
many Americans another rea-
son to keep a tight budget.

Lennar fell 4 cents to $44.50
after reporting that ongoing ©
softness in the housing market
will keep eating into profits.
Other homebuilder stocks tum-
bled on Lennar’s outlook and
the S&P’s home price data; D.R.
Horton, Toll Brothers, Pulte
Homes and KB Home fell more
than 1 percent, and Hovnanian
Enterprises more than 3 per-
cent.

Though the weakness in
housing and manufacturing is
weighing on stocks now, some
say it could eventually give the
market a boost if investors |
believe that the Federal Reserve
won’t raise interest rates to
curb inflation.

Declining issues outnum-
bered advancers by more than 2
to 1 on the New York Stock
Exchange, where volume came
to 1.38 billion shares.

The Russell 2000 index of
smaller companies was down
6.58, or 0.81 percent, at 802.36.

_ Overseas, Japan’s Nikkei
stock average fell 0.90 percent.
Britain’s FTSE 100 edged up
0.01 percent, Germany’s DAX
index advanced 0.43 percent,
and France’s CAC-40 gained
0.19 percent. :



WEDNESDAY, MARCH 28, 2007

TECHNOLOGY

AT&T to introduce
mobile banking

@ AT&T, which is replacing the Cingular
Wireless brand with its own name, is
adding a banking feature to lure
customers from rivals.

BY BRUCE MEYERSON
Associated Press

ORLANDO, Fla. — AT&T’s Cingular
Wireless plans to introduce mobile banking
capabilities with four prominent banks, the
biggest such initiative in the U.S. but still
shy of the industry’s long-discussed goal of
turning cellphones into credit cards.

The deals with Wachovia, Regions Finan-
cial, SunTrust Banks and BancorpSouth will
enable AT&T customers who bank with
those companies to use their cellphones to
check account balances, transfer funds
between accounts and pay bills.

The application, developed by Firethorn
Holdings, will be available immediately for
BancorpSouth customers and later this year
for cell users who bank with the other three
financial companies. AT&T will not charge
customers for the service beyond its data
usage fees.

To use the new service on an existing

AT&T mobile phone, customers will need
to download a program. AT&T plans to
begin embedding software on new handsets
starting in the second half of 2007.

The application downloads account and
bill information to the handset, so users will
be able to view account balances, transfer
funds, and receive and pay bills when their
devices are not connected to AT&T’s
mobile Internet service. If a device is lost or
stolen, the data can be remotely cleared
from the device. |

The AT&T deployment, announced
Tuesday, rnarks a major step forward in a
sector that’s taken years longer than pre-
dicted to take shape.

However, the U.S, market remains a big
leap away from the long-discussed goal of
embedding small transmitters in handsets
for contactless payments similar to the car
windshield devices commonly used to pay
bridge and highway tolls.

Wireless service providers, device mak-
ers and the major credit card providers have
remained at a stalemate over a business
model for how to share deployment costs
and transaction revenues.

U.S. ECONOMY
k





ERIC RISBERG/AP

ECONOMIC ACTIVITY: The New York-based Conference Board said that its
Consumer Confidence Index fell to 107.2, down from the revised 111.2 in
February. The March index was the lowest since November 2006, when the
reading was 105.3. Above, shoppers line up at the entrance to Saks Fifth
Avenue at Union Square in San Francisco.

Consumer confidence falls
amid rising gas prices

@ U.S. consumer confidence declined in
March from a five-year high as gasoline
prices rose and the housing recession
showed few signs of ending.

BY ANNE D’INNOCENZIO
Associated Press

NEW YORK — Consumers sent up a
warning signal in March that rising gas
prices, falling home values and a volatile
stock market could hurt spending in the
coming months, a widely watched index
showed on Tuesday.

The New York-based Conference Board
said that its Consumer Confidence Index
fell to 107.2, down from the revised 111.2 in
February. Analysts had expected a reading
of 109. The March index was the lowest
since November 2006 when the reading was
105.3.

“Apprehension about the short-term
future has suddenly cast a cloud over con-
sumers’ confidence,” said Lynn Franco,
director of the Conference Board Consumer
Research Center, in a statement.

“The recent turmoil in financial markets
coupled with the run-up in gasoline prices
may have contributed to consumers’ height-
ened sense of uncertainty and concern. The
direction of both components over the next
few months bears watching to determine
whether this decline is just a bump in the
road or something more substantial,” she
added.

Economists closely monitor consumer
confidence because consumer spending
accounts for two-thirds of all U.S. economic
activity. Confidence had been climbing,
helped by consumers’ faith in the job mar-
ket.

The Present Situation Index, which mea-
sures how shoppers feel now about eco-
nomic conditions, increased slightly to 137.6
from 137.1 in February. The Expectations
Index, which measures consumers’ outlook
in the next six months, declined to 86.9 from
93.8.

Joel Naroff, president of Naroff Eco-

nomic Advisors, said that a one-month dip
in consumer confidence after a four-month
climb doesn’t mean that shoppers are sud-
denly going to stop spending, but he said it
is a “warning sign.”

“Everything is consistent on the uncer-
tainty,” Naroff said, noting that if consumers
are questioning what is going on, they are
also going to be questioning their future
purchases.

The Conference Board report — derived
from responses through March 21 — showed
increasing anxiety about the stock market
and inflation. Those expecting the stock
market over the next 12 months to decline
increased to 30.7 percent, from 16.7 percent
in February. Those expecting the stock mar-
ket to increase fell to 29.3 percent from 39.9
percent.

Meanwhile, the report also showed that
consumers expect the inflation rate on the
goods they buy to increase by an average
rate of 4.9 percent over the next 12 months,
up from 4.6 percent in February. Franco
noted that such a spike usually is consistent
with an increase in gasoline prices.

The Conference Board report was a bit
sovering for retailers and other businesses
that rely on consumer spending.

The arrival of warmer weather this
month — following an unusually cold Janu-
ary and February — has helped the nation’s
retailers catch up to a slow start to the
spring selling season. But a slowing econ-
omy, particularly a weakening housing mar-
ket, could challenge shoppers.

The latest report on housing, released
Tuesday by Standard & Poors, further
dimmed hopes for a rebound in the market.
Prices of single-family homes across the
nation depreciated in January compared to a
year ago, the weakest results in more than 13
years, according to the S&P housing index.

Meanwhile, there are concerns about ris-
ing gasoline prices. The national average
price for gasoline climbed for the eighth
straight week, according to a government
report released Monday.



INTERNATIONAL EDITION





BRIEFS



SUZI ALTMAN/BLOOMBERG NEWS
OLD VERSION: The new Xbox 360 Elite will have a
120-gigabyte hard drive and will sell for $479.99.
Above, a teen plays on the original Xbox 360.

Microsoft to release
new Xbox 360 Elite

From Herald Wire Services
Microsoft (MSFT) will sell a version of its Xbox 360 with
a 120-gigabyte hard drive and a souped up high-definition
video connection, in a bid to broaden the appeal of its popular

console beyond video games.

Earlier versions of Xbox 360 came with 20 gigabytes of
storage. But that filled up too quickly with movies, TV shows
and games from the Xbox Live Marketplace online store, said
Peter Moore, a corporate vice president in Microsoft’s Inter-

active Entertainment group.

The new Xbox 360 Elite will sell for $479.99. Consumers
who already own the $399.99 20-gigabyte model will be able
to buy a snap-on 120-gigabyte hard drive for $179.99. Both the
new console and the drive are expected to hit U.S. shelves

April 29.
e AUTO INDUSTRY

UAW CHIEF: WE WILL
STRIKE IF NEEDED

Ron Gettelfinger didn’t
mention concessions in his
opening speech to the
United Auto Workers’ bar-
gaining convention Tties-"’
day, but many others were
speaking the word in and
out of the meeting hall.

The UAW president, fac-
ing what many say will be
the toughest contract talks
with the Detroit Three auto-
makers in history, warned
that the UAW would strike
if necessary. “We will do
what we have to do,” he
said. He reassured members
that the UAW would protect
their interests as Daimler-
Chrysler AG places its U.S.

‘unit up for sale.

Among the issues are
health care costs for active
and retired workers, wages,
work rules and the jobs
bank, in which laid-off
workers get most of their
pay.

e AUTOMAKER

DAIMLERCHRYSLER TO
DELAY 1Q RESULTS

Automaker Daimler-
Chrysler AG (DCX), which
is considering what to do
with its U.S. unit, said it will
delay the announcement of
its first-quarter results
because of its changeover to
international accounting
standards.

The postponement also
means the German-Ameri-
can automaker will be
reporting results after it
hold its annual shareholder
meeting April 4 in Berlin, as
rumors swirl about possible
buyers for the Chrysler unit.

DaimlerChrysler said it
would announce results on
May 15 instead of April 26
because of delays due to its
switch from U.S. generally
accepted accounting princi-
ples to International Finan-
cial Reporting Standards.

Shares of DaimlerChrys-
ler rose 2.81 percent to close



at 6192 euros ($82.28) in
Frankfurt, a eee high.

e AIRLINES

DELTA PLANS MORE
ASSET SALES

Delta Air Lines
(DALRQ.PK) expects to
emerge from bankruptcy
protection April 30 with an

“eye on improving customer

service and selling more
assets to build shareholder
value, it said, raising the
possibility it could shed
feeder carrier Comair.

While the nation’s third-
biggest airline did not say in
documents prepared for an
investor conference what
assets it plans to sell, Chief
Financial Officer Ed Bastian
suggested that Delta subsid-
iary Comair could be a tar-
get.

“We will, once we're out
of bankruptcy, look at
whether owning that busi-
ness makes a lot of sense,”
Bastian said at the investor
conference.

e ASIA
ASIA’S DEVELOPING
ECONOMIES SLOWING

Asia’s developing econo-
mies will slow over the next
two years, the Asian Devel-
opment Bank projected, but
the more moderate pace is
seen stabilizing the region
and putting it on better foot-
ing for solid growth in the
future.

Asia’s economy exclud-
ing Japan is expected to
grow by 7.6 percent in 2007
and 7.7 percent in 2008 from
a blistering 8.3 percent last
year, its fastest growth in
more than 10 years, the
Manila-based bank said.
Both China and India, which
together accounted for
about 70 percent of last
year’s expansion, are also
forecast to slow.

“Growth in developing
Asia will ease gently,” ADB
chief economist Ifzal Ali,
said at a conference to mark
the release of the bank’s
annual Asian Development
Outlook report. “This will
ensure that growth will
obtain a more sustainable
level in the years ahead.”



_LATE TRADING

Late

Stock Tkr, oy vou?
SunMicro SUNW 6.06 6.05 -01 112711
Hallibtns = HAL 31.04 3117, +13
SPDR SPY 142.86 142.36

Nasdl00Tr QQQQ 43.99 43.85 14 R791
ClearChan CCU 35.17 35.17 61262
Orthovta. = VITA 2.83 2.83 56818
BrMySq BMY 27.80 27.80 44467
GenElec GE 35.79 35.79 32705
MerL pfL = MERpL 25.07 25.07 27386
HewlettP HPQ 40.23 40.23 272598
Pfizer PFE 25.49 2540 9 26356
EMC Cp EMC 13.61 13.61 24003
Sun-Times SVN 4.93 493 24364

f
s\Â¥
ERI
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BR:

“an
2645
148
3LAl
10.20
19.06
2128
1725
26

Pit

120-2
34. *
10.20

raw

5
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21.28
17.93
2

EAE
#255 BSSSR”

BE

14761

For up-to-date stock quotes, go to wwwAiinediMeraid.cem and click on Business
















INTERNATIONAL EDITION. WEDNESDAY, MARCH 28, 2007 4B _





THE MIAMI HERALD | MiamiHerald.com
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NYSE NASD DOW Trans. 4909.01 4845.47 4852.60 -56.55 -1.15% A V A 46.41% SPDR 142.86. -.34 oT oe eee Bank Index 11487 11570 -083 & ¥ A 10774
DOW Util. 502.69 498.58 50163 -118 -0.23% A A A +9.82% SPMid 154.99 -.09 PREV 8.25 5. DiCorpBond «199.77 20012 035 ¥ V a 18828
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Advanced 1003 1009 S&P 500 1437.49 1425.54 ° 1428.61 -889 -0.62% A A A +0,73% StarwdHtl n 65.00 -.62 ee
Declined 2292 2013 S&P 400 855.28 848.93 851.20 -4.08 -0.48% A A A +5,82% Statestr 6498 -74 Commodities COMMODITY CLOSE PVS. %CH, %YTD
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New Lows 15 50 Wilshire 5000 1456366 14443.54 14474.79 -88.86 -0.61% A A A +1.52% StoraEnso 17.38 = -.09 Crude Oil (bbl) 62.93 62.91 +0.03-+3.1
Stryker 65.52 -.07 Gold (oz) 662.10 66340 -0.20 +42
; 5292 + Platinum (oz) 1242.00 1236.50 +044 +9.0
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Altria 85.08 +13 Caterpillar 66.88 +04 Fiserv 5356 -25 LafargesA 3964 +05 PPLCorp 41.14 +109 © ‘Texinst_ «31.22 +.07
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THE TRIBUNE



New Atlantis resort to
boost tourist marketing

First quarter occupancy decline may have been aided by weak marketing effort, with
Bahamas not getting expected results from Ministry's Bahamavention campaign

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter



tremendous exposure when the Cove at Atlantis, the

resort’s new 600-room all-suite hotel, has its soft opening
today, boosting a hotel industry suffering from a 2007 first quar-
ter occupancy decline.

Members of the Bahamas Hotel Association (BHA) yesterday
said that one of the contributing factors to the visitor decline may
have been a weak promotional effort by the Bahamas, particularly
with mass media targeted marketing.

Peter Webster, general manager of the British Colonial Hilton,
said tthe BHA is prepared to extend its passport reimburse-
ment programme to help drive room sales and occupancies dur-
ing the summer months.

“With the Cove (at Atlantis) opening, I do not think we should
underestimate the kind of media and PR that that is going to col-
lect. The Cove is a phenomenal product, like nothing the
Caribbean has seen, and I think there will be a lot of positive PR
from that,” Mr Webster said.

He added that the Bahamas had not been painted negatively in
the whole Anna Nicole tragedy and subsequent media coverage.

“The Bahamas is mentioned all the time, and we are prominent
in the US mind. So when you take into account the passport ini-
tiative and the Caribbean, more people will be coming into the
Bahamas through the almost subliminal advertising through
Anna Nicole, but also through initiatives such as the Cove, and
we stand a better chance than a lot of the other islands in the
Caribbean without having to do new campaigns,” Mr Webster
said.

“T don’t think we have seen the results come in for those ads as
we expected,” president Russell Miller said of the Ministry of
Tourism’s Bahamavention campaign.

He added: “We’ve done a lot of marketing on the Cove, and the
fact that Bobby Flay is opening his first restaurant outside of the
United States tomorrow when we open the Cove. So I think
that there are a lot of encouraging signs of turning things around.”

Te NASSAU /Paradise Island destination should receive

‘Secret’ Stamp taxes
prejudice environment
for business







@ THE Atlantis resort, Paradise Island
(FILE photo)

NOTICE

NOTICE is hereby given that CHRISTOPHER C. HEWITT
OF KEMP’S BAY, SOUTH ANDROS, 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 28th day of
February, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



NOTICE

NOTICE is hereby given that ROSELIE ST. CHARLES OF
PALMETTO POINT, ELEUTHERA, 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 2ist day of
March, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



FROM page 1B

ally at a rate of about 7 per cent -

and on cheques and other forms

of instruments and payments.
Mr Smith also suggested that

goods being sold ran afoul of the
Hawksbill Creek Agreement
(HCA).

He said a Supreme Court judge
had ruled in a case that he liti-
gated and won that Stamp Duties
were not to be levied on the
importation of goods by Port
Authority licencees.

However, if such goods were
involved in the sale of a business,
they would be required to pay
Stamp Tax on these products.

Businesses had previously com-
plained that the 4 per cent Stamp
Tax levied on the assets of busi-
nesses being sold effectively acted

as they had already paid duty on
goods imported for their business
at port of entry. Mergers and
acquisitions costs have been
raised, too. :

Cash and bank accounts are
not included in the-4 per cent

companies with a turnover of less
than $500,000 per annum and
businesses that are non-resident
for exchange control purposes are
excluded.

“Traditionally, to fit the defin-
ition of being a Stamp Duty the
charge being levied should some-
what reflect the cost of the service
being provided,” the CARICOM
study said. “For example, a stamp
duty charged by a land registry
on the transfer of property should
reflect roughly the cost of assist-
ing in the transfer of the property,
such as performance of the title
search, adjustment to land records
etc.

“Tf a so-called stamp duty were
to be significantly in excess of the
cost of the services being provid-

Old Fashio

Come to the
Bahamas National Trust’s

Day of fun, creative learning
activities and entertainment
for the whole family!

Saturday, March 31,2007 _
11am to 5pm at the Retreat Gardens
National Park, Village Road
Admission: Children -

Activities and exhibitors include:
Bahamians artisans, craft vendors and small businesses

Delicious Food & Beverages, Children’s Crafts

ned Games area: Top Spinning: Hoola Hoop; Hop Scotch;
Jack Stanes; Marbles

12 to 3:00pm - Wildlife Education and Exhibition by Ardastra Gardens Zoo &











$2 Adults - $5

Conservation Centre





WEDNESDAY, MARCH 28, 2007, PAGE 5B

i aa is
_INSIGHT

For To stories behind the news,
read Insight on Mondays

Job Opportunity
Software Trainer

Are you an energetic Motivator,
an Excellent communicator with a passion
to work with a professional Team?

If we've piqued your interest, Let’s Talk!

Skills required:
e A Bachelor’s Degree in Finance

¢ Minimum of five (5) years experience in
finance company management

Minimum of five (5) years experience in the
consumer purchase lending industry

Minimum of three (3) years experience in
the use and training of EnCompass and the
ability to train a team of at least 10 people.

Proficient in IBM DB2 file query utilities
¢ Working knowledge of Microsoft Office

FURNI



’ @ Limited



Furniture « Appliances ° Electronics

Please submit your application by Mail to:
Director of Human Resources, The Plus Group
P. O. Box N713, Nassau, Bahamas

or eMail: jobs@theplusgrp.com

We thank all applicants, however only those
selected for an interview will be contacted.

FP545



ed, the amount in excess is taxa-
tion........... Given the anti-tax
environment within which the
Government operates, it is easily
imagined that the Government
might have been forced to adopt
stealth tax policies in order to
address revenue needs.”

INSIGHT

For the stories

behind the news,
read Insight
on Mondays










1.00 to 3:00 pm - Starbucks Coffee Tasting

Educational Talks and Adult Crafts and Gardening Workshops under the Godfrey Higgs Pavillion

11:30 am Native Plant Propagation with Shenique Albury
12:30 pm Sustainable Gardening with Tim Bethel of Terrain Design

1:30 pm Creating Herb Garden in a Strawberry Pot by Nassau Garden Club

2:30 pm Tile Art create a fun piece out of tile and sea glass

3:30 pm Create your own Stepping Stone facilitated by Kaethi and Hans Pieter Schaerer
4:00 pm Canine Agility Demonstration featuring the Bahamas Dog Agility & Obedience









Sponsored by: Kentucky Fried Chicken, Burger King and Quiznos.
|







2 UBS

UBS (Bahamas) Ltd. is one of the world’s leading ~
financial institutions in the Caribbean. Our Business
Area Wealth Management International looks after
wealthy private clients by providing them with
comprehensive, value enhancing services. Our client
advisors combine strong personal relationships with
the resources that are available from across UBS,
helping them'provide a full range of wealth management
services.

In order to strengthen our team in Nassau, we are
looking to fill the following positions:

Caribbean Desk Head / Client Advisor

The position holder will be responsible leading the
Caribbean Desk in Nassau, Bahamas or become a
client advisor on the desk. This includes supervising
of day-to-day activities and financial results, monitoring
market conditions, and assessing risk. The position
holder has the task to identify new prospects and build-
up the corresponding relationships. S/he works closely
together with product specialists for analysing client
needs and developing, marketing and implementing
tailor-made investments strategies and solutions. The
acquisition of new clients will be a main focus.

The candidate will provide input to senior management
regarding client segmentation and marketing strategy
for his/her region. S/he will assist in the process of
building and developing key accounts, leading this
process where appropriate. S/he maintains a direct
relationship with clients resolves and escalates client
issues arising from the team.

The position holder is accountable for the
implementation of operating policy and standards.

equi mouts for this position include:
Minimum 5 years experience and a proven
successful track record in Wealth Management

e Minimum 5 years experience in client acquisition
and relationship building

e Outgoing and personable with great social skills.

In this position, the successful candidate will be
expected to:
Use communication and negotiation skills to
attract new clients and identify client needs
e Meet with clients and potential clients in social
settings
e Travel to meet with clients and potential clients

Senior Client Advisor & Client Advisor
Latin America

In this challenging position you will be responsible for
acquisition of new and advisory of existing clients, as
well as presentation and implementation of investment
solutions in the client’s mother tongue.

For this position we are searching for an individual who

meets the following requirements:

e Extensive experience and a proven track record
in Wealth Management

e Specializing in the fields of Customer relations,
investment advice and portfolio management.

e Excellent sales and advisory skills as well as solid
knowledge of investment products are key
requirements. Fluency in English, Portuguese
and Spanish is essential.

Interested? Written applications should be sent to:

hrbahamas@ubs.com UBS (Bahamas) Ltd.
Human Resources
P.O. Box N-7757
Nassau, Bahamas






PAUL UD, WEUINCOVAY, VIANUN 28, ZUU/



= ) FIDELITY

With origins in The Bahamas since 1978 and in the Cay man Islands and
the Turks and Caicos Islands since 1980, Fidelity is a financial services
group offering a comprehensive range of insurance services, domestic
and intemational banking, estate planning, pension services and corporate
finance as well as other financial products and services. Fidelity is now
inviting applications for a:

Director Corporate Banking

THE TRIBUNE



Government ‘encouraged’ St

Georges to push for 75% trial

m@ By NEIL HARTNELL
Tribune Business Editor

THE Government has
“encouraged” the estate of the
late Edward St George to push
for a Supreme Court trial on Sir
Jack Hayward’s claim to 75 per
cent ownership of the Grand
Bahama Port Authority (GBPA)
and Port Group Ltd as a first step
to resolving the dispute between
the two parties, the estate has
alleged.

An affidavit sworn by Anthea
Parris, an attorney with Callen-
ders & Co, who is representing
the St George estate in the legal
battle with Sir Jack, said a solu-

tion to the two sides’ differences
would be impossible until the dis-
puted 75 per cent ownership
claim was resolved.

Ms Parris said: “The plaintiffs
have been encouraged to seek the
trial of the ownership matter as a
preliminary issue by the Govern-
ment, who appear as amicus curi-
ae [friend of the court] in this
action. The plaintiffs understand
this is because GBPA is a quasi-
governmental authority, and
there is thus a public interest in
the determination of its ultimate
ownership.”

She alleged: “Until the ques-
tion of ownership of Interconti-
nental Diversified Corporation

[the holding company for the
GBPA and Port Group Ltd] is
determined, there is no realistic
prospect of the action being set-
tled.”

The St George estate is seeking
the trial of Sir Jack’s 75 per cent
ownership claim as a preliminary
issue, alleging that until this is
determined, a solution to the dis-
pute - likely to result in one side
or a third party buying out the
other - will not be possible, since
no one will know whether it is a
75 per cent, 50 per cent or 25 per
cent stake that is being bought.
This makes it impossible to set a
price.

Two separate attempts were

made by Sir Jack to acquire’ the St
George estate’s interest in‘Inter-
continental Diversified Corpora-
tion, and by extension the GBPA
and Port Group Ltd, the first on
his behalf, and the second on
behalf of Seashells Investments, a
company that he wholly and ben-
eficially owns. :

“Neither of these offers can be
taken forward for the very simple
reason that the extent of that
interest remains unresolved and
in dispute,” Ms Parris alleged.

Reporting directly to the President, the successful candidate will have the
following minimum require ments:-

FOR RENT
PARADISE ISLAND

Luxurious harbour front Penthouse
Residence with spectacular views of
Nassau and its Harbour:

Bachelor Degree in Business, Banking or Finance

An MBA qualification would be an asset

5 years experience in intemational credit markets

10 years commercial credit experience at a managerial level
Comprehensive understanding of structured financing solutions
Strong financial and business analysis skills

Exceptional written and oral communication skills.

; e 5,000+ sq ft. total area
Proven record of delivery of presentations

e 4 Bedrooms with 4.5 baths

e Master bedroom with dressing area, Jacuzzi
and large walk-in closet ‘

e Large balconies

e Elegantly furnished throughout with a
separate study

e Formal dining room

e Private elevator

e Heated pool and spa overlooking the harbor

e Private dock for a yacht up to 75 feet

e Dedicated storage and crew areas

e Exercise room

e Indoor Garage

e Private gated entry

e Lush tropical landscaping

The successful applicant will primarily be responsible forthe develop-
ment of Fidelity’s corporate finance business in The Bahamas and across
the Caribbean and will be expected to travel on a frequent basis.

An attractive compensation package, including a comprehensive range of
employee benefits is offered. . ,

Please send applications no later than April 15th, 2007 to:
Director Corporate Banking
Director of Human Resources
P.O. Box N-4853
Nassau, Bahamas
Tel (242) 356 7764
- Fax (242) 326 3000
Email careers(@fidelitybahamas.com

The Tribune wants to hear
from people who are *
making newsintheir ,
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning .
for improvements in the
area orhavewonan '°
award. r

If so, call us on 322-198

and share your story. {

Rent:

$18,500.00 per month net
NO PETS




For further information and viewing call:
363-2730

DIRECTOR CORPORATE BANKING





ile eae TIME TO PLAY
oem ~— OUTSIDE!

For All Life’s Roads

GRAND BAHAMA POWER COMPANY
Keeping Grand Bahama's Future Bright

Vacancy Notice
A vacancy exists in the Transmission & Distribution Department of
Grand Bahama Power Company, fora DRAUGHTS MAN.

eeseeecrraes enna







k
6
»
>

j

h

aH

The duties include but are not limited to performing drafting tasks,
necessary to record construction and maintenance details and changes:
to T&D and Steam Plant system and preparing detailed drawing frony,
engineers sketches. Designing and managing the construction of;
changes to the company’s civil structures and field collection of system:
graphical information by GPS. The incumbent will also assist Managers,’
Engineers, Superintendents and Supervisors in preparing Construction:
details as dictated by system changes. This position reports to the Planning.

and Scheduling Manager. "

The applicant must be fluent in the use of AutoCAD and should bes
familiar with data management applications MS Office, Internet}
technologies, mobile Computing etc. and have experience with GPS}
equipment and associated GPS software packages. The applicant should}
also have the ability to understand the difference between data types and;
know the impact and consideration when designing a database, especially :
in Microsoft Access. :

a
®

i

Standards:

¢ AM/FM 6-disc CD player

¢ Power windows &
door locks

e Automatic Locking
Rear Differential

The ideal applicant will be a Bahamian with an Associated Degree in?
Drafting. However, the minimum requirements are a High School '
Diploma and BGCSE or GCE ‘0’ level passes in Mathematics and
English Language. Applicants must have a minimum of five (5) years
drafting experience (preferably with a utility), technical studies covering 4
technical drawings and technical report writing and be competent in the -
use of computers. ’

e 3.7L |-5 engine

e 2-door or 4-door
‘models

¢ 2 or 4-wheel drive

The all new
Chevrolet
Colorado offers
you more choices.



2-DR/2WD - $449.16 per month

4-DR/2WD - $533.96 per month __ Prices based on a 6-year term Applicants with supporting documentation including a clean Police },
4-DR/AWD - $557.16 per month Certificate and proof of Bahamian citizenship should be sent to: ?.

; : THE DIRECTOR OF HUMAN RESOURCES :

On-the-spot financing. GRAND BAHAMA POWER COMPANY, LIMITED

Nassau Motor Company Limited P.O. BOX F-40888 :

Shirley St. ¢ P.0. Box SS-62135 © Nassau, Bahamas FREEPORT, GRAND BAHAMA, BAHAMAS :
Tel: (242) 328-3908 » Fax: (242) 323-7272 eS cere
ebsite: www.nassaumotor.com 1
Deadline for receipt of applications is MARCH 31, 2007

\


a
~ a

se THE TRIBUNE WEDNESDAY, MARCH 28, 2007, PAGE 7B
we =



BUSINESS.



‘Fish catch limits harm tourist sector

qs | By CARA BRENNEN-BETHEL
=“* Tribune Business Reporter

Legal Notice

NOTICE

VERBATIM HOLDINGS LID.

IN VOLUNTARY LIQUIDATION

But he added: “We believe adjustments need
to be made quickly to consider this, and have
made this appeal to the Government.”

He said efforts should instead be focused on
catching and prosecuting poachers and illegal
commerical fishing.

“The blanket approach undertaken has result-
ed in a clear drop in vistor arrivals, and is affect-
ing not only marinas and hotels, but a range of
businesses and employees who depend on this
business,” Mr Miller said.

He warned that the window was fast-closing
on salvaging the tourism season in the northern

have any concrete figures on the impact of the
sportsfishing regulations, it had recieved letters
and held conversations with persons who had
indicated they were not coming to the Bahamas,
and tournaments have been cancelled.

“So to put a hard number in terms of per-
centage, no, but we know that we are beginning
to see some of the fallout in business and
decline,” he added.

Mr Miller said the issue was not the amount of
fish caught and consumed while in the Bahamas,
but the amount that can be taken out of the
country, which he said amounted to about “20
pounds or one fish like a grouper”

“So we have asked the Government to look at
that- in terms of limits of poundage per vessel,”



THE recent change in catch limits for sports
iG: xcfishermen visting the Bahamas has already neg-
: jt, atively impacted the tourism industry, with a

“tj, number of scheduled fishing tournaments having
been cancelled.
The Bahamas Hotel Association’s president,
‘tid Russell Miller, said yesterday that the recent
ay
ire imits, which drastically reduce the amount of
. virfsh that can be taken out of the Bahamas, have
“caused vistor cancellations in the northern and
‘northwestern Bahamas in particular. Bahamas, which benefits tremendously from
“4 “1! “We commend the Minister of Agriculture _ sportsfishing during the peak months of April to
4. and Fisheries for his efforts to protect our natural July.

Die:

Notice is hereby given that in accordance with section 137 of the
International Business Companies Act 2000 VERBATIM HOLD-
INGS LTD. is in dissolution.

The Date of the Commencement of dissolution was 23rd March
2007. David Thain of Arner Bank & Trust (Bahamas) Ltd., Building



ih a! ‘tesources, ” said Mr Miller. Mr Miller said that while the BHA did not — he added. 2 Caves Village, PO. Box N-3917 is the Liquidator of VERBATIM
ata, HOLDINGS LTD. All persons having claims against the above-
amo, g : eho Seer a. named company are required to send their address and particulars of
due to their exports becoming sea food products were exported iff being imposed. This would = ae é
Wiebe EU, from 1B uncompetitive. to the EU from the Bahamas in raise the price of Bahamian lob- their debts to the Liquidator before the 23rd April 2007.
jez : The Government document 2004, and loss of duty-free access ster by $2-$2.50 per pound, mak-

require that the Bahamas gives

.,. the same preferences to the US

Py »arthat it gives to the EU in the EPA

: wrtalks, especially if a replacement

ay for the Caribbean Basin Initia-

a Tertive is necessary.

Ht : A briefing prepared for the

-, Cabinet's sub-committee on trade

by the Ministry of Foreign

ne He ‘Affairs, which has responsibility

‘for international trade, warned

that the Bahamas would lose "its

favourable $20 million trade bal-

\* ance’ ' with the EU if it failed to

af ~ sign the EPA, while hundreds of

, Jobs would be jeopardised if Bac-

*“ardi and Polymers International
shut their respective operations —

detailed that the Bahamas export-
ed some $66.315 million worth of
goods to the EU in 2004, largely
made up of Bacardi's rum and
spirits products, lobster and other
sea food products, and polymers
from Polymers International i in
Freeport.

The Ministry of Foreign Affairs
document said: "An additional
cost of $5 per gallon would make
the Bahamian-produced rum
uncompetitive, and would likely
cause Bacardi to shift its produc-
tion to either Puerto Rico or
Mexico, where the MEN tariffs
are not applicable.”

Just over $35 million worth of

would lead toa 12.5 percent tar- ing it uncompetitive.

PUBLIC NOTICE |
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, THEREZE
TAMEICA LIGHTBOURNE of Garden Hills No. 2,
Nassau, The Bahamas intend to change my name to
THEREZE TAMEICA BRATHWAITE. If there are any
objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box SS-742, Nassau, Bahamas no later than thirty
(30) days after the date of publication of this notice.

/ Vquidator











KLG INVESTMENTS LTD./AQUAPURE




oo :

i NOTICE NOTICE

, oe] NOTICE is hereby given that BASELAIS BIEN-AIME OF NOTICE is hereby given that KERDITH MORENCY
5

FAITH AVENUE, CARMICHEAL RD., NASSAU, BAHAMAS,

4

marr
&

' 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 28th day of March, 2007 to the

Minister responsible for Nationality and Citizenship, P.O.Box

N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ERICA JAQUEL PARKER OF

KWAN YIN, MALL DRIVE, FREEPORT, GRAND BAHAMA,

pos

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 28TH day of
MARCH, 2007 to the Minister responsible for Nationality
s~and=“Citizenship, P.O.Box N-7147, Freeport, Bahamas.

RR eS Me PE Ge So aw oe



BAHAMAS, is applying to the Minister responsible for

OF CORDEAUX AVENUE, P.O. BOX N-356, 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 21th day of
March, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that NICOLA KATHERINE STEWART
PAINE OF 139, SEAGATE LANE, P.O.BOX F-40320,
FREEPORT, GRAND BAHAMA, 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 28TH day of MARCH, 2007 to the Minister responsible for

Applicants must be at least 23 years of age,
self-motivated, disciplined and possess the
following:

° A valid driver’s license
The ability to drive standard shift vehicles

Please visit out Bernard Road office
between the hours of 9:00am and 5:00 pm,
Monday - Friday to pick up an application
form.



Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



GP ipwnexcoanT EVONRES UNE is

FIRSTCARIBBEAN

INTERNATIONAL BANK

CAREER OPPORTUNITY

fora

Treasurer — Bahamas and Cayman

Operating Companies
Treasury Sales & Trading (TST)

Key Activities and Deliverables:

THE AIRPORT AUTHORITY

P.O. Box, AP - 59222
Lynden Pindling International Air port
Nassau, Bahamas

Proposal for Group Life & Medical Insurance

¢ 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.

e Successfully manage and extract maximum value from business projects and process
improvement initiatives designed to strengthen the operational infrastructure of FirstCaribbean
TST

The Airport Authority invites proposals from eligible insurance
companies and/or brokers on a Group Life Medical Insurance Plan
for employees of The Airport Authority.

F

The policy will be for a period of one year following the selection
of a successful tender. Parties interested in submitting a proposal

may collect an information package from the Executive Offices of
The Airport Authority at the Lynden Pindling International Airport
with immediate effect.

¢ Build and improve the organizational structures and delivery platforms that support the
FirstCaribbean TST model and product lines

MR BR Ey PR a” BY a Ft aoe ha Fn a a a” a 2 FST LL.

° 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.

All proposals should be sealed, and delivered to:
° Key result areas include: balance sheet & liquidity management, product sales/marketing

function, product structured support, governance and market risk
Manager, Human Resources
The Airport Authority
Lynden Pindling International Airport
P.O. Box, AP-59222

Nassau, Bahamas

ie eA BOE OTL RR

Qualifications/Experience:

a

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
(ST / Treasury Products business in international financial institutions

Solid operational experience in both a sales and a trading environment

Â¥

ath

And should be marked:

aa OO Sw WR

“PROPOSALS FOR GROUP LIFE AND MEDICAL INSURANCE”

Remuneration:

All tenders must be received no later than 4:30 pm on Friday 13,
April 2007.

e Salary commensurate with the position’s seniority (FC Level 9 - the Bank has
1} pay levels)
* Benetits- includes a car allowance, variable incentive pay (bonus) and preferred
Joan rates
The Airport Authority reserves the ri j : ie
d P y ghts to PecCeny Ot all Applicants are requested to submit their resume with a cover letter via email by
tenders.

March 29, 2007 to: deangelia.deleveaux @ FirstCaribbeanBank.com

FirstCaribbean International Bank (Bahamas) Limited thanks

allapplicants for their interest, however only those under consideration
will be contacted.

Cp RAM a MeO BO SS HLL MIRE TT



en
PAGE 8B, WEDNESDAY, MARCH 28, 2007 | :
Stocks fall as new data shows softening housing

market, raising fears about risks to economy

@ By MADLEN READ
AP Business Writer

NEW YORK (AP) — Stocks
stumbled yesterday as investors
grew wary when new data
1aised the possibility that the
nation’s weak housing market
would seep into the broader
economy and crimp consumer
spending.

A housing index released
Tuesday by Standard & Poor’s
showed that prices of single-
family United States homes fell
in January compared to a year
ago, in their worst showing

since January 2004. Also,
Lennar Corp., one of the
nation’s largest homebuilders,
said its first-quarter profit plum-
meted 73 per cent and warned
that it probably won’t meet its
2007 earnings guidance.

Wall Street has been nervous
lately that a drop in housing
values will further weaken sub-
prime mortgage lenders, who
make loans to people with poor
credit, and make consumers
feel less wealthy and rein in
spending. Consumer spending
makes up about two-thirds of
US economic activity.

The Conference Board said
Tuesday that its March con-
sumer confidence index fell to
107.2, the lowest level since
November and a decline that
was larger than Wall Street
expected. The index was at
112.5 a month earlier, which
had been its_highest level in
five-and-a-half years.

Analysts noted, however,
that lower confidence doesn’t
necessarily translate to a drop
in spending, especially with the
labor market as stable as it is.
Furthermore, the Dow Jones
industrials rose every day last

week and the recent pullback:

has erased only a small portion
of that 370-point weekly gain
— the largest since March 2003.

“While the market remains
on the cautious side, there was
a nice little bounce since mid-
March. Investors are just look-
ing over their shoulders, won-
dering if the problems in the
housing market and subprime
market are going to spill over,”
said Edward Yardeni, president
of Yardeni Research Inc.

The Dow fell 71.78, or 0.58
per cent, to 12,397.29. Tues-
day’s selloff put the blue-chip

NOTICE

NOTICE is hereby given that LEONARDO ARITIS OF
PINEWOOD GARDENS, 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 28th day of March, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.

Legal Notice

NOTICE

NOTICE IS HEREBY GIVEN as follows:

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

(b) The Dissolution of said Company commenced on March 27, 2007 when
its Articles of Dissolution were submitted and registered by the Registrar
General.

(c) The liquidator of the said company is Lakeisha Collie of 2nd Terrace
West, Centreville, Nassau, Bahamas.

(d) All persons having Claims against the above-named Company are
required on or before the 27th day of April, 2007 to send their names and
addresses and particulars of their debts or claims to the Liquidator of the
company or, in default thereof, they may be excluded from the benefit of
any distribution made before such debts are proved.
March 28, 2007
LAKEISHA COLLIE

LIQUIDATOR OF THE ABOVE-NAMED COMPANY





Mili acckae) ayn

Well established Fashion Retail
SIUC as Mn ll enon ai elice|
respected worldwide Franchise.
20 years at same prime location.

Email: b.inquiries@gmail.com

Legal Notice

Notice

THE SCOLLAND COMPANY 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 5th day of April, 2007. In default thereof they will be
excluded from the benefit of any distribution made by the
Liquidator.

Dated the 23rd day of March 2007.

Lynden Maycock
Liquidator






index back into negative terri-
tory for the year.

Broader stock indicators also
fell, but remain higher for 2007.
The Standard & Poor’s 500
index lost 8.89, or 0.62 per cent,
to 1,428.61, and the Nasdaq
composite index declined 18.20,
or 0.74 per cent, to 2,437.43.

“The market is looking for
some good news to sustain
itself. Today didn’t give that
kind of news, and we were
slightly overbought,” said
Richard E Cripps, chief mar-
ket strategist for Stifel Nico-
laus, a broker based in St.
Louis. “We’re looking at mar-
kets that appear like they’re
more discriminating about
risk.”

Bonds were little changed
Tuesday. Investors were weigh-
ing the decline in home prices
against the specter of inflation,
sparked by speeches by Fed
officials Sandra Pianalto and
Michael Moskow, who both
touched on monetary-policy
issues.

The yield on the benchmark
10-year Treasury note was at
4.61 per cent, the same as late
Monday. ys

The dollar was lower against
the euro and yen. Gold prices
also slid.

Crude oil prices rose two |

cents to $62.93 a barrel on the
New York Mercantile
Exchange. Gasoline prices have
risen sharply in recent weeks,
giving many Americans anoth-
er reason to keep a tight bud-
get.

Lennar fell four cents to
$44.50 after reporting that
ongoing softness in the hous-
ing market will keep eating into
profits. Other homebuilder
stocks tumbled on Lennar’s
outlook and the S&P’s home
price data; D.R. Horton Inc.,
Toll Brothers, Pulte Homes and
KB Home fell more than one
per cent, and Hovnanian Enter-
prises Inc. more than three per
cent.

As the cooling housing mar-
ket dampens demand for home-
building materials, many man-

THE TRIBUNE

ufacturers have struggled. The
Federal Bank of Richmond
reported Tuesday that eco-
nomic activity in the Richmond
region registered a negative-10
in March — the same reading
as in February, but still indicat-
ing contraction.

Transportation stocks also
fell: CSX Corp. fell more than
two per cent, while Burlington
Northern Sante Fe Corp. and
Union Pacific Corp. fell more
than one:per cent.

Though the weakness in
housing and manufacturing is
weighing on stocks now, some
say it could eventually give the
market a boost if investors
believe that the Federal
Reserve won’t raise interest
rates to curb inflation.

“There’s enough softness in
the economy that the Fed’s not
going to raise rates,” Yardeni
said. “It’s a delicate balancing
act here — investors don’t mind
softness in the economy as long
as it’s not a recession.”

On Wednesday, investors will
be listening to testimony by Fed
chairman Ben Bernanke for
clues about the economy’s
direction, and reading the Com-
merce Department’s report on
orders of durable goods for
February.

Most companies aren’t
releasing much financial data .
in the coming weeks, as the first
quarter wraps up on Friday and
before the earnings rush begins

-in mid-April. But companies

could issue profit warnings, to
which Wall Street will pay close
attention.

Declining issues outnum-
bered advancers by more than
two to one on the New York
Stock Exchange, where volume
came to 1.38 billion shares.

The Russell 2000 index of
smaller companies was down
6.58, or 0.81 per cent, at 802.36.

Overseas, Japan’s Nikkei
stock average fell 0.90 per cent.
Britain’s FTSE 100 edged up
0.01 per cent, Germany’s DAX
index advanced 0.43 per cent,
and France’s CAC-40 gained
0.19 per cent.

NOTICE |

NOTICE is hereby given that ELAINE RAHMING OF
KING STREET, MURPHY TOWN, P.O. BOX AB-20774,
ABACO, 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 28th day of
March, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

Legal Notice

NOTICE

NOTICE

Pursuant to the provisions of SECTION 138 (4) of The International
Business Companies Act,2000, Notice is hereby given that:-

VISILLI LTD.

(In Voluntary Liquidation)
(a) LORELLA HOLDINGS LIMITED is in dissolution;
Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 26th day of
March 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

the date of commencement of this dissolution is March 27,
a7 , Legal Notice

NOTICE
THE SCOLLARD COMPANY LIMITED

NOTICE IS HEREBY GIVEN as follows:

The name of the Liquidator is EDWARD B. TURNER of
EDWARD B. TURNER & CO. #10 PETRONA HOUSE,
FOWLER STREET OFF EAST BAY STREET, P.O.BOX
N-1375, NASSAU, BAHAMAS.

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

EDWARD B. TURNER
Liquidator

ARGOSA CORP. INC.
(Liquidator)

The dissolution of the said company commenced

on the 23rd March, 2007 when the Articles of
Dissolution were submitted to and registered by the
Registrar General.

3] Gracy, 4] The Liquidator of the said Company is Mr. Lynden

Pricing Information As Of:
iT 7 Marci

Maycock of Ocean Centre, Montagu Foreshore,
East Bay Street, Nassau, Bahamas, as sole Liquidator.

Dated this 23rd day of March 2007.
Securit Previous Close Today's Close Change
Abaco Markets

Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard

Finco

FirstCaribbean

Focol

Freeport Concrete

ICD Utilities

J. S. Johnson

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

ANTED

JEWELLERY SALES ASSOCIATES

Must be...
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i
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soit SBE

52wk-Low Last Price Weekly Vol. EPS $
12.25 Bahamas Supermarkets

10.00 Caribbean Crossings (Pref)

28.00 ABDAB
Bahamas Supermarkets
RND Holdi

Colina Money Market Fund
Fidelity Bahamas G & | Fund
Colina MSI Preferred Fund
Colina Bond Fund

Fidelity Prime Income Fund

3.0988***
2.625419°*
1.233813°***

2.3312
1.1592
10.0000

11.3945
acai e

ONE BAM 7I
divided by closing price
Bid $ - Buying price of Colina and Fidelity
Ask $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - Acompany’s reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

DO YOU HAVE WHAT IT TAKES?

If the answer is YES then take the next step.
FAX RESUME TO 326-2824

NAM

52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV § - Dividends per share paid in the last 12 months
4 P/E - Closing price divided by the last 12 month earnings

* - 9 March 2007
** - 8 February 2007
*** ~ 31 January 2007

I
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**** . 28 February 2007


2

THE TRIBUNE

Meredith to



close

print version of
Child magazine

Magazine publisher says move
will result in loss of 60 jobs

&@ By DAVID PITT
AP Business Writer

ment is expected to be signed
shortly for the CW Network
affiliate in the nation’s 86th
largest market.

The company said it would
benefit from a one-time gain
of $9 million in the third quar-
ter, due to the resolution of a
tax issue related to the sale of
stock in Craftways, a business
sold in 2003.

After the tax benefit, Mered-
ith expects to see an earnings
benefit of three cents a share
for the quarter, the company
said in a statement.

“We continuously review
our business activities with the
objective of maximizing our
performance and growth
potential,” said Stephen M.
Lacy, Meredith’s president and
chief executive, in a statement.

DES MOINES, Iowa (AP)
— Magazine publisher Mered-
ith Corporation said yesterday
it would close its print version
of Child magazine and main-
tain the title as an Internet
product.

The move will result in the
loss of 30 jobs, company
spokesman Art Slusark said.
In addition, another 30 jobs
throughout the company will
be eliminated as the result of
“realignments, restructuring
and revisions.” Most of the
positions are based in New
York, he said.

Des Moines-based Mered-
ith, which publishes 25 sub-

cription magazines including

Child, one of five magazines
acquired by Meredith from
Gruner + Jahr in July 2005,
will become an online brand
exclusively and reside on
Meredith’s new parenthood
Web site, which will launch in
July. The new site will include
Web versions of Parents,
American Baby, Family Circle
and Child.

The last print edition of
Child will be the June/July
issue.

Lacy said the Gruner + Jahr
titles are exceeding expecta-
tions, with fiscal 2007 operating
profit forecast to grow more
than 20 per cent.

Meredith shares were trad-
ing 15 cents lower at $57.80 on
the New York Stock
Exchange.

BOC mG eN UM LUCA CUS Oe yard CC

WEDNESDAY, MARCH 28, 2007, PAGE 9B



CROMWELL TRUST COMPANY LIMITED
Balance Sheet
(Expressed in United States dollars)

December 31, 2006





2006 2005
ASSETS
CURRENT ASSETS :
Cash and cash equivalents (Note 3) $ 144,472 $ 122,990
Accounts receivable 411 2,500
Other assets 1,050 1,050
145,933 126,540
FIXED ASSETS .
Furniture and equipment 24,514 24,514
Leasehold improvements 10,867 10,867
35,381 35,381
Less accumulated depreciation and amortization ( 26,481) (19,321) |
8,900 16,060
$ 154,833 $ 142,600
LIABILITY AND SHAREHOLDERS’ EQUITY
LIABILITY . me
Accounts payable $ 3,000 $ 3,500
SHAREHOLDERS’ EQUITY
Share capital
Authorized, issued and fully paid
100,000 shares at US$1.00 each 100,000 100,000
Contributed surplus . 67,000 67,000
Accumulated deficit (15,167) (27,900)
151,833 139,100
$ 154,833 $ 142,600



APPROVED ON BEHALF OF THE BOARD:

ector .



See accompanying notes. Report of Independent Auditors page 1.

CROMWELL TRUST COMPANY LIMITED
Notes to Financial Statements

December 31, 2006

Better Homes and Gardens
and owns televisions stations
and Web sites, said it would
record a one-time $3 million
severance-related charge for
the eliminated jobs.

The company said it would
record a one-time charge of $7
million to write off the assets of
Child magazine, mostly
deferred subscription acquisi-
tion costs. It also would write
off a non-cash impairment
charge for Meredith’s Chat-
tanooga, Tenn., television sta-:
tion WELI, dor which Meredith»:
has signed a letter of intento! 1)
sell. An asset purchase agree-

1, | GENERAL

Cromwell Trust Company Limited (“the Company”) was incorporated on August 28, 2000 under
the provisions of the Companies Act, 1992, of the Commonwealth of the Bahamas. The primary
business of the Company is to provide trustee services under a restricted trust license granted to the
Company on November 13, 2000. The Company’s registered address is at SG Hambros Building,
West Bay Street, Nassau, the Bahamas. . :

Share your news

The Tribune wants to hear
from people who are

| making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award. : nme
If so, call-us-on-322-1986 -
and'share your'story. +:













2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared under the accrual basis of accounting in accordance
with International Financial Reporting Standards and are expressed in United States dollars. The
significant accounting policies are as follows:

Cash and cash equivalents |

Cash and cash equivalents include cash at bank and-in: hand as well as short-term highly liquid
investments such as bank deposits. Term deposits are carried at cost value plus interest.

Foreign currency transactions

The Company's functional currency is the United States ("U.S.") dollar, however it transacts
business in currencies other than U.S. dollars. Assets and liabilities denominated in currencies other
than U.S. dollars are translated into U.S. dollars at rates in effect at the balance sheet date. Income
and expenses denominated in currencies other than U.S. dollars are translated into U.S. dollars at the
rates in effect on the transaction dates. aa ,

PUBLIC NOTICE _

Fixed assets .

The Road Traffic Department wl shes to ne assets are recorded at cost and are depreciated on the straight line basis at the following annual
advise the general public that in an pine ender
effort to service you better during Vehicle
Registration month our operating hours

Leasehold improvements - 33 1/3%

3. CASH AND CASH EQUIVALENTS :

Cash and cash equivalents of $144,472 as at December 31, 2006 are comprised of the following:

2006 2005
have been extended at its Thompson Fst Cartbean nero Bank Sshams) inted 38) oe
Blvd. location to 8:00p.m. From Monday “cows ia
March 26th - Friday March 30th, 2007. siaarasi22.9%0

The fixed deposit earns interest at the rate of 5% per annum.
4, LEASE COMMITMENT

On July 1, 2006, the Company renewed the office lease agreement, which expired on June 30, 2006,
for another three years at an annual rental fee of $16,960, with an option to extend the lease, upon
written notice and mutually agreed upon by the parties, for an additional period of three years.

5. PENSION COST

The Company has a retirement plan.(“the Plan”) administered by a local fund manager. as trustee,
covering the Company’s President and Corporate Secretary. The Company contributes an amount
equivalent to 5% of the officers’ annual salaries to the Plan. Total pension cost charged to operations
amounted to $14,500 in 2006 ($13,196 in 2005).

The Bahamas Environment Science &
Technology (BEST) Commission,

Ministry of Utilities & Environment Grant Thornton %

Chartered Accountants

is seeking a

PROJECT MANAGER

' with skills in technical writing, for the production of a public document.
The successful candidate would be able to conduct interviews, gather data
and analyze information. The successful candidate would also be
knowledgeable about global Climate Change (CC) and the United Nations
Framework for climate Change.The successful candidate would be able to
articulate the implications and factors effecting small island states relative
to CC. The position offered is temporary and is contingent on the production
of the document. Interested persons should send their resumes before March
29th, 2007 to the Commission office.All applicants should be available for
interviews during the week of April 3rd 2007. Please contact the Commission
for further details at:

REPORT OF INDEPENDENT AUDITORS

To the Directors of
CROMWELL TRUST COMPANY LIMITED

We have audited the accompanying balance sheet of Cromwell Trust Company Limited (“the Company”)
as of December 31, 2006, and the related statements of income and accumulated deficit, and cash flows for
the year then ended. These financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with International Standards on Auditing. Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, these financial statements present fairly, in all material respects, the financial position of the

Company as of December 31, 2006 and the results of its operations and its cash flows for the year then
ended in accordance with International Financial Reporting Standards.

es, Flas

BEST Commission, Ministry of Utilities & Environment
Nassau Court, West Bay Street
Nassau, Bahamas
Tel: 322-4546 or 322-2576
Fax: 325-3509
Email: bestnbs@ hotmail.com

wee

January 29, 2007 CHARTERED ACCOUNTANTS

4

Nassau, The Bahamas




PAGE 10B, WEDNESDAY, MARCH 28, 2007

THE TRIBUNE



Charles Sealy II to assume

role of chief executive

octors Hospital
Health Systems
(DHHS), the BISX-

listed healthcare provider, has
promoted Charles Sealy II to
the post of chief executive with



Switzerland, is seeking a

MAIN RESPONSIBILITIES:



Baer worldwide network

KNOWLEDGE/SKILLS



EXPERIENCE






EDUCATION

FOREIGN LANGUAGES




2007 to the attention of:

BY HAND:
Personal & Confidential
Bertrand Zimmermann



Ocean Center, Montague Foreshore
East Bay Street
Nasau, Bahamas

Julius Bar

Julius Baer Group, the leading dedicated wealth Manager in

SENIOR RELATIONSHIP MANAGER

- Develop his/his existing client network
- Develop Julius Baer Bank & Trust as Booking Center through Julius

- Excellent organizational leadership and communication skills
- A commitment to service excellence
- Ability to work in team environment

- Prior experience in Senior Management
- Minimum 10 years experience in Private Banking

- Bachelor degree in Economics, Business Administration or equivalent
- German, French and/or Italian required.

Interested candidates should forward a copy of their resume by April 4,

Julius Baer Trust Company (Bahamas)

effect from July 1, 2007.
When he assumes this role,
Mr Sealy will be responsible
for DHHS’ day-to-day activi-
ties, and report to the presi-
dent and Board of Directors.


















_ BYMAIL:
Personal & Confidential
Resident Manager
PO. Box N-4890
Nassau, Bahamas








Joe Krukowski, DHHS
chairman, said in a statement:
“This restructuring is a part of
our ongoing strategy of devel-

oping a strong succession plan _

for the organisation, to ensure
the sustainability of capable
management as we go forward.

“This promotion is a success
of and a part of that strategy,
and it also frees up Barry
Rassin to focus his attention
on future growth strategies for
the company, including the
development and implemen-
tation of Board-approved
expansion as necessary to keep
Doctors Hospital at the fore-
front in healthcare.”

Mr Sealy joined DHHS in
1999 as a coordinator, and
quickly rose to the posts of
vice-president and, most
recently, chief operating offi-
cer. He is a member of the
American College of Health-
care Executives, holds a Mas-

“This promotion is a
success of and a part
of that strategy, and it
also frees up Barry
Rassin to focus his
attention on future
growth strategies for
the company...”

— Joe Krukowski

ters Degree in Health Admin-
istration from Western Con-
necticut University, and his
temporary appointment at
Baptist Health System in Mia-
mi, Florida has prepared him

well for this promotion.

Legal Notice

NOTICE

WHEELBARROW LIMITED

IN VOLUNTARY LIQUIDATION

Notice is hereby given that in accordance with section 137 of the
International Business Companies Act 2000 WHEELBARROW

LIMITED is in dissolution.

The Date of the Commencement of dissolution was 23rd March
2007. David Thain of Arner Bank & Trust (Bahamas) Ltd., Building
2 Caves Village, RO. Box N-3917 is the Liquidator of WHEEL-
BARROW LIMITED. All persons having claims against the above-
named company are required to send their address and particulars of
their debts to the Liquidator before the 23rd April 2007.

DELTEC BANK.& TRUST LIMITED

Invites applications for the position of

TRUST MANAGER |

Responsibilities will include (but are not limited to):

“*. Creating fiduciary structures that will service the needs of

clients

“* Marketing trust products

** Ensuring that all fiduciary structures are administered at a
high professional standard and in accordance with Policies
& Procedures of Deltec and the laws of The Bahamas

“* Maintaining current knowledge of all issues (law and tax)
affecting fiduciary structures
“* Supervising the Company Department

The successful candidate should have the following:

> STEP Diploma

> 10 years trust experience
(minimum 5 years in a supervisory capacity) -

> Excellent written, oral and presentation skills

Salary will be commensurate with experience.

Interested persons may submit resumes as follows:

Human Resources Manager
Deltec Bank & Trust Limited

P. O. Box N.3229
Nassau, Bahamas

Resumes may also be faxed c/o 362-4623 or emailed to

anh@deltecbank.com

ABSOLUTELY NO TELEPHONE
CALLS WILL BE ACCEPTED







2006/2007 Officers & Directors

President

David Slatter, CFA

Fidelity Merchant Bank & Trust
PO Box N-4853, Nassau, Bahamas

Ph: (242) 356 7764
Email; david slatter@fidelitvbahamas.com

Vice-President

Kristina M, Fox, CFA
Templeton Global Advisors Ltd,
PO Box N 7759, Nassau, Bahamas
Ph; (242) 362 4600

Fax: (242) 362 4308

_ Email: kfox(@templeton.com

Treasurer

David Ramirez, CFA
Pictet Bank & Trust Ltd,
PO Box N-4873

Nassau Bahamas

Ph; (242) 302 2217

Fax; (242) 327 6610
Email dramire@pitet com

Secretary

Christopher Dorsett, CFA

Citigroup Corporate & Investment Bank

PO Box N 8158, Nassau, Bahamas

Ph; (242) 302 8668

Fax: (242) 302 8569

Email: Christopher.a.dorsett(@citigroup.com

INSTITUTE

PROFESSIONAL
DEVELOPMENT
QUALIFIED ACTIVITY





CFA Society of The Bahamas

m@ PROMOTED — CHARLES SEALY II

JEWELLERY STORE MANAGERS ©

Discover a rewarding and
‘challenging career catering to the
country’s visitors in the exciting
retail jewelry business!!!

Do You Have What it Takes?

ARE YOU...
_ Confident? * A Leader? ¢ Self Motivated?
* Professional? Mature (25 yrs or older)? « Dedicated?
If the answer isYES then take the next step
FAX RESUME TO 326-2824

SALARY OPPORTUNITY COMMENSURATE WITH EXPERIENCE & QUALIFICATION

Tove ©




















MONTHLY LUNCHEON SPEAKER EVENT

Ts Estate Planning Part of Asset Allocation?”

Topic:
Date: Friday March 30, 2007
Time: 12:00pm Cocktail Reception
12:30pm —— Speaker’s Address
Please arrive promptly! -
Location; Luciano’s of Chicago
« __ Cagliari Room
East Bay Street
Speaker; Francois E, Aubert
Independent Private Banker, Switzerland
Cost; Members $25.00
Non-Members $35.00
(If paying by cheque, please make cheque payable to;
CFA Society of The Bahamas)
Reservations: PRE-REGISTRATION REQUIRED -by Mar.28, 2007 ,

Chris Dorsett, CFA
Christopher.a. Dorsett@Citigroup,com
*Prepayment required through one of the Board
Members

Francois E. Aubert is an independent private banker who advises his
clients on overall strategy, asset allocation, risk analysis, estate planning,
and tax evaluation. He is also a consultant on issues regarding exports of
goods and services to the Middle East. Mr. Aubert lectures in business
administration at IUKB (State University of Valais) and New York
College's European campuses and is a trainer for ISFB (Geneva Banks
Training Institute), He is a board member of the Swiss CFA Society and a
member of the CFA Institute Professional Development Committee, Mr.
Aubert holds a MBA from the Heriot-Watt University in Edinburgh and
is a Certified Financial Analyst and Portfolio Manager (AZEK/CFPI), a
NLP practitioner, and a PADI Divemaster.















"Is Estate Planning Part of Asset Allocation?"
The current trend is to include estate planning as one of the elements of
asset allocation. But is it where it should be? Shouldn’t it be placed
upstream? Allocating assets according to specific uses mostly focuses on
tax éfficiency. But what if the customer’s place of residence is tax free or
almost? This presentation explores the advantage of an approach that
first analyzes the estate planning needs, including items such as family
protection or children’s education, matching them with the current
sources of income, and then only allocates the funds to various investment
portfolios and other investment vehicles to meet the customer’s needs













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