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.

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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_02860 ( sobekcm )

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This item has the following downloads:


Full Text
The Tribune

Che Miami Herald

BAHAMAS EDITION

{!)

81F
69F

SUNNY 10



4





HIGH
| LOW

PARTLY CLOUDY

Volume: 103 No.111




AY BSTOT ETT
CRUST CU LLY

SEE FRONT PAGE OF BUSINESS SECTION



ARTH

TUESDAY, APRIL 3, 2007

OR FOULKES HAS HIS SAY.

a SS






hanging in cell in
probable suicide

@ By BRENT DEAN

JASON Murphy, an inmate
of Her Majesty’s Prison, was
found dead, hanging from strips
of a blanket in his cell Sunday
night, after attempting to harm
himself earlier that same day.

According to a press release
issued by the prison, inmate
Murphy, who was twenty-four
years old, was on remand in
prison for murder. He was ini-
tially placed on remand for the
charge of causing a wound on
August 1 2003, when he was
further charged with murder on
September 2, 2003.

The deceased was convicted
of the crime of causing a wound
and received an eighteen-month
sentence on October 17, 2003.
Having completed this sentence,
Murphy remained in prison on
remand for the murder.charge.

Regarding the specifics sur-
rounding the death, the prison

press release indicated that at
5pm on Sunday, the inmate was
found with a self-inflicted
wound on his arm, which was
caused by a sharp object. He
was subsequently treated in his
cell for the laceration. Howev-
er, during routine cell checks
around 8.30pm, officers found
Murphy hanging from his neck
in his cell. The prison doctor
was summoned, but efforts to
resuscitate Murphy were unsuc-
cessful, and he was officially
pronounced dead at 9.13pm
Sunday.

The prison and the ministry
of national security, made no
further statements beyond the
press release.

Questions arise, however, as
to why Murphy was not placed
under some sort of watch after
the attempt to harm himself
earlier in the day. Additionally,

SEE page nine






Japanese man, unlawfully
imprisoned for eight years, to
have case heard by Privy Council

@ By ALEXANDRIO MORLEY
Tribune Staff Reporter

THE Japanese man who was imprisoned for eight years by gov-
ernment was granted leave yesterday by the Court of Appeal to
have his matter heard before the Privy Council.

Justice Dame Joan Sawyer granted Atain Takitota conditional
leave to have his case sent to the UK High Court.

Takitota is currently challenging the “ceiling” that was placed on
his award.

In December, 2006, Supreme Court Justice Jeanne Thompson
appointed a receiver to collect government taxes in order to satis-

SEE page nine




















Taste the buttery crust.
Smell the garlic

Look at all. that cheese--
Provolone, Garlic Oregano

Sata

according to authorities.

Howard K Stern’s
appeal application
is withdrawn

MByNATARIOMCcKENZIE |

HOWARD K Stern’s applica-
tion to appeal a judge’s order for }
DNA testing in the paternity :
challenge filed by Larry Birkhead : qaughter have come forward to
was withdrawn and subsequently + correct statements attributed to

An order was then made by them, and to make additional

the Court of Appeal for the appli- : i
cant to cover the fee of $5,000 for : bing headlines around the
attorneys representing each of the }
two respondents or $10,000 in ;
total. Paternity claimant Larry :
Birkhead, who yesterday was rep- :
resented by attorney Emerick ;
Knowles, was listed as one of the :

_ proceedings ‘could drag on for years’

Supreme Court justice Stephen
Isaacs ruled over two weeks ago :
that six-month-old Dannielynn :
be submitted to a DNA test, in :
the paternity challenge brought :
by photographer Larry Birkhead. :
Yesterday attorney Damian :
Gomez, who appeared on behalf :
of Stern in the matter, withdrew :
the application after the justices : q : : ues
of appeal raised scepticism about | speedily following the death of Daniel Smith in September of last
it. The court subsequently dis- :
missed the application. The fee :
of $5,000 to cover costs was :
agreed upon by the attorneys. :
Whenever an application is dis- ;

dismissed yesterday.

respondents and the Attorney
General’s Office as the other.

SEE page nine

villa

4

@ A SPATE of fires culminated with 24 houses in a Haitian
village being burned down yesterday after a fire started in the
area off Firetrail Road, according to police.

Fire services were called to the area at round 4.30pm,

“es

@



(Photo: Felipé Major/Tribune staff)

Former nannies to Anna Nicole’s

Other blazes were extinguished off Carmichael Road, and
the East-west Highway, however no further details on these
incidents were available up to press time.

: daughter come forward to correct

statements attributed to them

li By PAUL TURNQUEST
Tribune Staff Reporter

TWO former nannies to the
late Anna Nicole Smith’s infant

charges in the affair that is grab-

world.
Ms Quethlie Alexis and Mrs

Nadine Alexie, both represent-
ed by their attorney Elizabeth
Thompson, of Elizabeth E M
Thompson & Co, have recently
sworn affidavits contradicting a
previous affidavit attributed to
Ms Alexis regarding the rela-
tionship between Ms Smith, and
the former Minister of Immi-
gration Shane Gibson, and the

SEE page nine

Jurist claims Daniel Smith inquest

@ By KARIN HERIG

Tribune Staff Reporter



THE stalled inquest into the death of Daniel Smith may need an
act of parliament to move it forward again, which could make
proceedings drag on for many months, even years, a concerned

jurist claimed yesterday.

One of the country’s leading jurists, speaking on condition of
anonymity, told The Tribune that if the judiciary had moved more

year, many legal ramifications now being raised could have been

avoided.

Just days after it began, the inquest into the death of Anna
Nicole Smith’s 20-year-old son Daniel came to a standstill last
week when lawyers for Howard K Stern called the constitutional-

SEE page nine



ge houses destroyed after spate of fires



Bomb scare
at Atlantis

A SPATE of bomb scares
occurred in Nassau last week,
two of which happened at
Atlantis.

The media just yesterday
learned that the alarm was
sounded late last week at the
Paradise Island resort when a
“crude device” was found at the
hotel.

According to Police Commis-
sioner Paul Farquharson, it was
the second bomb scare experi-
enced at Atlantis that week.

Tribune sources claimed that
the device found late last week

SEE page nine
Senators seek to
ensure outstanding

Bills debated before
House dissolved

SENATORS were engaged
in a marathon session in the
upper house yesterday as they
sought to ensure all eight out-
standing parliamentary Bills
were debated before the disso-

lution of the House of Assem- | ,

bly.
These include the Pensions
Act, Police Service Act, ©

SEE page nine

Po

“Keep your finances on track!”
Fidelity Free Financial Planning

(or-1) Bi cole F-\ ame ) FIDELITY |

Nassau: T 356.7764 e@ Freeport: T 352.6676/7





PAGE 2, TUESDAY, APRIL 3, 2007

THE TRIBUNE



La Lar ae

The victimisation monster |

rears its ugly head again



QO: a visit to
Inagua last

year, I had the opportu-
nity to chat with a man
who was introduced to
me as one of the sons of
Wellington Smith. Hay-
ing regard to the experi-
ences of his early years,
I was pleased to see that
he had become a confi-
dent and intelligent gen-
tleman. Still, there was a
trace not of bitterness
exactly, but something
more like a steely defi-
ance.

Back in the 1970s
many Bahamians who
had aligned themselves
with the fledgling Free
National Movement
were viciously victimised
and intimidated by pow-
erful people in the PLP
and theirshenchmen.

The powerful ones
seemed to think that it
was a mortal sin for any-
one to dare oppose the
ruling party and that
they were justified in
their efforts to break the
will of their opponents
and to punish them for
their audacity. .

Some of the worst
cases in this brutal cam-
paign took place at
Inagua. The case of
Wellington Smith was
perhaps the most egre-
gious.

Mr Smith worked for
the Morton Salt Company and
was involved with church and
community activities. Once he
came to Nassau to sing with
the choir in the presence of the
Governor. He was pretty close
to being the ideal citizen,
except that he was not a citi-
zen.

Mr Smith was from Turks
Island. He had married a
Bahamian woman and had
fathered eight Bahamian chil-
dren with her. He was not
involved in politics and could
not even vote. But his wife was
a supporter of the FNM; and
that was, literally, the undoing
of the Smith family.



():: day the power of
the state descendea

upon Mr Smith and-his family
He was unceremoniously
deported to Turks Island by the
PLP government. leaving his
wife and young children without
their husband, father and
provider.

-While their own government »

persecuted them, the foreign
managers of the company
showed compassion towards
this Bahamian family. Phey
gave Mr Smith a job on one of
their ships so that, as a sea-
man, he could legally visit his
family in Inagua from time to
time.



The reports of victimisation in
Mayaguana are too many and
sound too credible to be ignored.
The managers of a foreign group
in partnership with The Bahamas
government have been accused of
brutal discrimination against resi-
dents of that island identified as
supporters of the FNM.





, es E-Z ners vac a
Donald’s Furniture
And Appliance Centre

SIXTH TERRACE CENTREVILLE TEL: 322-1731 OR 322-3875

No-one can know how
much Mrs Smith and hér
family suffered and how
many tears they shed
over the years. They sur-
vived, but the family was
smashed.

The demon which dri-
ves some human beings
to victimise others for
their beliefs and for exer-
cising their God-given
and constitutionally-
guaranteed rights is still
very active in the PLP

Perhaps it is driven by
the very same arrogant
attitude of entitlement
some members of that
party have cultivated
over the years because of
a grievous misinterpreta-
tion or abysmal igno-
rance of history.

Once again the biggest
victims are the most vul-
nerable in our society
and once again the
tyrants have identified
them as those who live
in what they regard as
remote corners of our
archipelago.

he reports of
A victimisation in

Mayaguana are too
many and sound too
credible to be ignored.
The managers of a for-
eign group in partnership
with The Bahamas gov-
ernment have been
accused of brutal dis-
crimination against residents of
Unat isiand identified as sup-
porters of the FNM

Three young Bahamian men
who had been hired by the com-
pany were fired just around the
Gime three expatriate workers
landed on Mayagiiana io take
up employment. Out of 85
employees only 30 are Bahami-
ans.

One would have thought that
the government and the com-
pany would be anxious to make
sure that every able and willing
worker on the island was
employed before recruiting
expatriates.

Another Bahamian who has
been doing plumbing work at
the island has been refused
employment while expatriates
have been observed doing the
same work. He happens to be
associated with the FNM. These
young men refuse to bow and to
violate their conscience for what
should be theirs by right.

B ut the most heart-
rending case is that of

Samantha Collie who has also
been refused work because she
is a supporter of the FNM. Ms
Collie has five young children
and they survive only with the
help of friends and what she can
make catching and selling crabs.

Monday - Saturday - 8:30am - 5:30pm

BILLY’S DREAM

SIE DNTD





Those who sit in high places and
who have power over the
victimisers cannot escape
responsibility for the ones who
carry out the persecution,
especially when a word from
them would bring it to an end.



Ms Collie may not be a con-
stitutional expert but she under-
stands that in her Bahamas she
is entitled to freedom of con-
science, freedom of expression,
freedom of assembly and free-
dom of association. She knows
that it is wrong for anyone to
try to deprive her of these free-
doms.

She refuses to be broken,
and that gives her a certain
nobility of spirit. It certainly
makes her a better citizen than
the cowardly cretins who per-
secute her, and those who con-
done them.

Back in the 1970s some of
those who instigated victimisa-
tion tried to make excuses for it.
One of their favourite dictums
was about power:

“If you don’t use it, you'll lose

it!”
_ they sounded much like
Adoii Hitler: “Terror is the
most effective political instru-
ment. I shall not permit myself
to be robbed of it simply
because stupid, bourgeois mol-
iycoddles choose to be offended
by it.”

\ / ictimisation is a form
ot terror. it is the use

of intimidation, discrimination
and victimisation against indi-
vidualszand groups. Its ultimate

objective 1s not. only. to punish .
its immediate targets but to:

strike fear in the wider popula-
tion, to cause them to bend to
the will of the tyrants.

There are basically three
kinds of victimisers. There are
the powerful ones who pull the

strings from the safety of their:

high offices. Some of this lot
will deny knowledge of the evil
they are perpetrating while oth-
ers will hide behind an alleged
cause

Among the second group are
the stupid ones who are pro-
grammed to believe that what

‘they are doing is for the greater

good even if it means destroying
themselves in the process. Like

the targets. they are also vic-

tims of the prime manipulators,

“4
he third group is popu-
lated by those sadistic

monsters who, in the definition
of Erich Fromm, like to have





STORE HOURS:

complete mastery over other
people, to make others helpless
victims of their will, to become
absolute rulers over others, to
humiliate and to enslave oth-
ers.

These vermin have always
crawled out of their holes
whenever the circumstances
were conducive to indulge their
dark nature, and they will go
just as far as those circum-
stances permit. They have fig-
ured prominently in every
bloody chapter of human his-
tory and in bloodless but nev-
ertheless painful persecution of
many.

They were at work during the
Crusades, the enslavement of
black Africans in the New
World, the French Revolution,
the Belgian genocide in the
Congo, the European genocide
in North America and the Nazi
Holocaust. ,

‘Most of them could not care
less about the cause and some
would work their mischief for
any cause. They do not believe
in the dignity of human beings
and either do not understand
or have contempt for concepts
like democracy and human
rights, not to mention compas-
sion.

hose who sit in high
. places and who have
power over the victimisers can-
not escape responsibility for the
ones who carry out the perse-
cution, especially when a word
from them would bring it to an
end.

They can try to avoid respon-
sibility like Herod or wash their
hands like Pilate, but they can

be excused neither by self-—

interest nor ignorance nor even
by their own shameful weak-
ness.

On their shoulders lies
responsibility for the pain and
humiliation inflicted on people
like Samantha Collie and her
five children, and all the others
who are made to suffer because
they dare to exercise their God-
given and constitutionally-pro-
tected rights as human beings
and Bahamians.

sirarthurfoulkes@hotmail.com
www.bahamapundit.type-
pad.com



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.

WOMAN SECTION
WOMAN. eccesees

_ GOMNGS cis sissies
Weather. i.i.cdetracot
SPORTS SECTION —
Sports Ac.zuie



CLASSIFIED

MIAMI HERALD
Main hie ;



Share your news

The Tribune wants to hear



Opposition

ex-governor
escapes jail
in Venezuela

@ VENEZUELA
Caracas

A FORMER opposition
governor has escaped from a
prison in north-west
Venezuela, authorities said
Sunday. It was the second

4

y

t

high-profile jail break by a ‘

foe of President Hugo Chavez
in less than a year, according
to Associated Press.
Eduardo Lapi, ex-governor
of Yaracuy state, was report-

ed missing by prison authori- ~

ties early Sunday from the
San Felipe jail, where he was
being held on corruption
charges.

Interpol and immigration
authorities have been alerted
in case Lapi tries to. flee the
country, Tarek El Aissami,
vice minister of citizen secu-
rity, told a news conference.

Lapi, who governed

>

\

Yaracuy state for two consec- »

utive terms from 1998 to 2004,
has been accused of violating
a state bidding process and
influence peddling. He was
detained last May, but his tri-
al had yet to begin.

His lawyer, Alejandro
Arzola, speaking to The
Associated Press by tele-
phone, defended Lapi’s dis-
appearance, saying authori-
ties had violated his rights by
holding him close to a year
without even a preliminary
hearing.

“Not only was his right to
the administration of justice
violated, but also his right to
life was at stake,” Arzola said,
alleging that Lapi had
received various death threats
and was about to be trans-
ferred to a much more dan-
gerous jail.

Arzola called for authori-
ties to protect Lapi’s life and
guarantee his human rights,

Arzola said friends and rel-

atives were told of his
absence when they went to
visit him on Sunday.

Lapi’s escape follows that
of dissident Venezuela labor
leader Carlos Ortega last
August from the Ramo Verde
military prison near Caracas.

Ortega had been serving a
nearly 16-year sentence for
leading a crippling oil strike
against Chavez in 2002-2003.
The director of the jail was
later put under investigation
in connection with Ortega’s
escape.

FOR 3 IN 1 LAWN SERVICE
Fertilizer, Fungicide,
Pest Control

Tropical Exterminators
322-2157














.

‘4

a

t

a

y=. Sey aw FT



THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE 3



Mi (] eae ee See
Employee action at airport

causes disruption to flights

Oln brief

Retraction
of Nautilus
Water recall
story

' THE statements published
in The Tribune on Monday,
April 2, in the article entitled
“Nautilus Bottled Water
Recalled from Market,” were
incorrect and unauthorised.

The details in the article
that directly referred to the
company’s licensing issues
are presently being reviewed
by the requisite government
agencies. As a consequence
there has been no recall of
the Nautilus water products.

It must be emphasised that
at no point has there been
any accusation by any gov-
ernment agency as to Nau-
tilus Water Company pro-
viding a sub-standard prod-
uct. “The quality of Nautilus
Water has never been in
question, and Nautilus Water
Company remains commit-
ted to producing their inter-
nationally certified, world-
class product,” said a state-
ment from the company.

The Tribune sincerely
apologises for the unautho-
rised release of this article,
and for any unnecessary
damage and confusion
caused to the company and
its customers as a result.

Birkhead
faces $620k
legal bill for
services

ANNA Nicole Smith’s for-
mer boyfriend Larry Birk-
head has been billed more
than half a million dollars for
services rendered during
recent paternity and DNA.
proceedings.

Mr Birkhead’s former
lawyer Debra Opri - with
whom he parted ways two
weeks ago — is reportedly
asking $620,000 as payment
for her services, TMZ report-
ed.

Ms Opri, who has in recent
months been a constant com-
panion to Mr Birkhead, often
addressing the media on his
behalf in an outspoken fash-
ion, allegedly billed her ser-
vices at $475 an hour.

The impressive $620,000
bill is said to include pay-
ments for Ms Opri’s personal

publicist, the time she spent -

on flights to and from the
Bahamas, and even a $2,467
— seafood dinner at Gray-
cliff restaurant, which Mr
Birkhead allegedly did not
attend.

According to the break-
down of costs obtained by
TMZ, Ms Opri is also billing
Mr Birkhead $4,265 for cel-
lular phone use while she was
in the Bahamas, and laundry
items for her husband, who
often accompanied her
lawyer on her trips.

Ms Opri has reportedly
offered her former client a
$100,000 discount if he agrees
to pay the bill “without fur-
ther discussion.”

James Levesque, Ms Opri’s
publicist with Luck Media
and Marketing, told TMZ
that “Debra Opri always gets
paid. That’s what she does
for a living.”

Ms Opri’s lawyer David
Owen said: “We're pretty
confident that her bills are
fair and reasonable and he
has not paid them. She is
entitled to be paid and he
stiffed her and her bills are
fair and reasonable.”



of things we
think, say or do

1.ls 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





@ By ALISON LOWE
Tribune Staff Reporter

ABOUT 50 Nassau Flight
Services employees disrupted
the flow of operations at the
Lynden Pindling airport yester-
day as they voiced concerns
over unpaid salary increases and
hiring practices.

An emergency meeting
between the president of the
Airport and Airlines Allied
Workers Union (AAAWU)
and Minister of Transport and
Aviation Glenys Hanna-Mar-
tin took place in the morning
in a move made to diffuse the
situation.

AAAWU president Nerelene
Harding said that the union is
tired of waiting for the NFS
board of directors to honour an
industrial agreement signed in
April last year.

She was equally vociferous
about another cause of dis-

gruntlement — the recent hiring
of a new deputy general man-
ager under conditions that
many staff considered unfair.

Though not termed a strike, °

the employees’ action consist-
ed of gathering in the interna-
tional car park between 1.30pm
and 2.30pm, causing a slow
down of activities in areas such
as the check-in desks and bag-
gage handling sections.

Union executives estimated
that between 75 and 90 per cent
of all unionised employees — of
which there are about 120
according io one union repre-
sentative — were off the job.
However, other unofficial esti-
mates suggest that these figures
may have been exaggerated to
some extent.

Nonetheless, union vice-pres-
ident Robert Pickstock said that
the action would have “affected
operations very drastically.”

While the company made

headlines most recently in rela-
tion to the arrests of five bag-
gage handlers, NFS includes
ticketing agents, ramp agents,
airplane clean-up agents,
accounting employees and
supervisors — servicing seven
international airlines, including
Virgin, United Airlines, Jet
Blue, Continental, Spirit Air
and Air Canada.

In total, NFS can deal with
up to 24 flights a day, said one
employee.

Agreement

The industrial agreement at
the root of the employees’ com-
plaints was forged after an

international company — the |

Hay Group — brought in to
assess NFS salaries in compar-
ison with eight other govern-
ment corporations, determined
that NFS employees should

receive pay increases over a
period of years.

The board of directors at
NFS are overdue in providing
the monies that were scheduled
to be paid as a part of this
agreement, the president not-
ed.

“It's been too long, and all
there's been is promises,
promises, promises. We're tired
of the promises,” said one tick-
eting agent.

Chief shop steward Stephen
Hepburn speculated that the
company may have seen the
increases as "too drastic",
adding however that the
employees deserved the salary
alterations.

According to Mr Hepburn,
the Hay Group's report deter-
mined that NFS employees had
been significantly underpaid in
relation to those in other com-
panies.

Speaking to members, Mrs

Harding said she is confident
that Mrs Hanna-Martin was
doing her utmost to ensure the
situation gets resolved by
“tomorrow or Wednesday.”

She said the minister had
expressed concern that the sit-
uation had escalated to the
point where employees felt the
need to take action.

Mrs Harding stressed that the
funds needed to pay employees
their increases do not have to be
confirmed by cabinet, as they
are already provided for in the
2007 budget.

Therefore, all that is required
is a signature from the minister
herself. This was expected to be
provided by 5pm yesterday
afternoon.

Mrs Harding warned, howev-
er, that if this did not come to
fruition, further mass “lunch-
breaks” would be taken by
employees, causing yet more
disruption.

Consultations continue on plan to cut
congestion crisis in New Providence

â„¢ By BRENT DEAN

IN an attempt to address the
gridlock and chaos on the
streets of New Providence, the
Ministry of Transportation yes-
terday held the second in a
series of public consultations
designed to facilitate the imple-
mentation of the new Trans-
portation Congestion Reduc-
tion Plan.

The plan, is derived from a
study done by the Spanish com-
pany, Advanced Logistics
Group, for the government.

Some of the key recommen-
dations of the report are: new
downtown parking garages and
paid on street parking, restrict-
ed access zones, designated
routes and driving times for dis-
tribution vehicles, a new Par-
adise Island bus service; a pub-
lic outreach programme that
would, in part, increase car-
pooling, and the much discussed
— yet still unfulfilled — unified
public bus system.

Minister of Transport, Glenys
Hanna-Martin, opened the

workshop and acknowledged >

the immense frustration that
many Bahamian endure on the
streets of New Providence. Con-
sequently, the minister pledged
for action on the recommenda-
tions of the.report, once con-
sultations are completed.
“Out of this workshop - this
is the second one — we expect to
go in to the implementation



@ GLENYS Hanna-Martin

phase. There is only so much
talking we can do on this sub-
ject. The people are now ask-
ing for resolution,” she said.

Permanent Secretary for the
Ministry of Transportation,
Archie Nairn, stated that traffic
congestion problem in New
Providence is a significant factor
in lost productivity, fuel wastage,
pollution and vehicular wear and
tear. However, he warned that
there are no simple solutions to
solving the problem — such as the
building of new roads.

“Experts are of the view that
traffic congestion problems can-
not be resolved by simply build-
ing more roads. That is certain-
ly not the answer. But rather,
it is a combination of factors
that include the management
of the transportation system,

which is as equally as impor-
tant,” he said.

Traffic congestion in New
Providence has particularly
affected residents of the east-
ern end of the island. During
the school months, it takes res-
idents anywhere from an hour
to an hour and 45 minutes to
arrive at destinations that only
require a 10 or 15 minute drive
on empty roads.

Some drivers have indicated
to The Tribune that the have to
awaken as early as 5.30am in
order to have their children pre-
pared and on time for school.

The result of the increasing
traffic crisis on New Providence
is that the work day is continu-
ally expanded for Bahamians.
The early morning gridlock is
usually also accompanied by

- midday, after-school and after-

work traffic problems that add
further hours of frustration to
the work day, and make it diffi-

cult for businesses to deliver |

services in a timely fashion. :

Mr Nairn stated that the
there will be several stages of
implementation for the report’s
recommendations.

After the public consultations
are completed, he said that
those initiatives that do not
require new regulations will be
swiftly put-in place, whereas
those changes that require reg-
ulatory adjustments would take
more time to fully come to
fruition.

Nassau Institute launches
monthly discussion group

LOCAL think-tank the Nas-
sau Institute has launched a
monthly discussion group series
at their newly commissioned
offices in the Bay Street Busi-
ness Centre.

The series began last week
with a discussion on “The
Tyranny of the Proper” which
centred on the question of
whether or to what extent gov-
ernments should regulate the
lives of citizens.

These discussion groups take
place in the Milton Friedman
Room and are a long held
vision for the directors of the
institute.

The inspiration for these
meetings was said to come from
similar talks held at various free
market/libertarian think tanks
like the Foundation for Eco-
nomic Education (FEE) in New
York.

Ralph Massey, vice president
and economist for the Nassau
Institute, was the moderator for
the first session and presented a
paper entitled: The moral code,
Adam Smith and Uncle Mil-
ton’s logic: An introduction to
‘The Tyranny of the Proper’.

Mr Massey noted that all
societies, “big or small, for bet-
ter or worse” have rules that
regulate relations between indi-
viduals.

“It is a moral code that
defines acceptable and unac-
ceptable behaviour. It is a soci-
ety’s ‘rules of the game’ that
give day-to-day life a certain-

y.” he said.

Mr Massey noted that while
euelis a COC oh can support “mean-

oful life thin a society, it

may also limit meaningful
growth.

Pointing to the 18th century
Scottish philosopher Adam
Smith’s comments on the sti-
fling effects of the policies of
mercantilism at his time, Mr
Massey said modern society is
similarly plagued with the
“politically correct” ideas of
socialism.

He also discussed the views
of economist and free market
advocate Milton Friedman, who
believed that while government
should be involved in educa-
tion, it should do this in a way
that allows parents and students
“to choose among alternatives”.

Following Mr Massey’s pre-
sentation was a wide-ranging
discussion on the role of the
government in many aspects of
Bahamian life.

Topics including the pro-
posed National Health Insur-
ance scheme, and what was per-
ceived by most participants as
the failing Bahamian education
system.

It was suggested that a ver-
sion of Friedman's “voucher
system” — which proposes that
vouchers be distributed by edu-
cation officials to parents to be
redeemed at the school of their
choice — could work in the
Bahamian setting.

The argument is that once
parents are free to choose,
schools would be forced to
improve in terms of perfor-
mance in an effort to compete
for students and the funds that
go with them — in contrast to
the current system which sees
students “forced” to attend

whichever government school
they are assigned to.

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PAGE 4, TUESDAY, APRIL 3, 2007

THE TRIBUNE

nn SSS ;
EDITORIAL/LETTERS TO THE EDITOR -



The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI







PRESIDENT BUSH called it a “gesture,”
but that is far too wan a word, considering. The
occasion was the recent presentation in the
Capitol Rotunda of the Congressional Gold
Medal, Congress’s highest civilian award, to the
surviving pilots and support personnel of the
99th Squadron, U.S. Army Air Corps — the
legendary Tuskegee Airmen.

They flew in World War II against Naziism in
Europe, and against Jim Crow at home.

The latter victory took a little longer than
the first. *

The American military in World War II was
as racially segregated as a deep Dixie bus sta-
tion. For most black enlistees and draftees,
there was only the wood-hewing and water-
drawing tasks of servitude — busing tables,
hauling freight, scrubbing kitchens, digging
ditches; in short, the grunt labour of war.

African Americans had fought, and had
fought in numbers, in the Revolutionary War,
the Civil War, World War I.

Each time, they had hoped the black com-
munity would come out better at war’s end
because of their service. Each time, they were
disappointed. Black service was little noticed by
whites in its time and soon forgotten, often
mocked if recalled at all. ;

The Tuskegee Airmen, so named for the
Alabama town where they trained, wrote the
first chapter in a new narrative, one that point-
ed to President Truman’s 1948 executive order
opening the way to integration of the armed
forces. The last segregated unit was disbanded
in 1954.

The fighter pilots of the 99th flew missions in
the Mediterranean, Africa and Europe, most
famously protecting bomber runs into Ger-
many.

They won numerous decorations and, more

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.
Published Daily Monday to Saturday

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

Saluting the Tuskegee Airmen

Publisher/Editor 1972-

telling, the praise of the bomber crews they
covered. In all, the Tuskegee pilots flew some
15,500 sorties.

And came home to find paroled German
prisoners of war, awaiting repatriation, wel-
come in theatres and restaurants barred to the
men who, in their distinctive red-tailed planes,
had just helped win the war and set those Ger-
man prisoners free.

As President Bush noted in the award cere-
mony, “Even the Nazis asked why they” - the
Tuskegee corps - “would fight for a country
that treated them unfairly.”

Black America’s two-front war won some
victories at home, most notably a federal order
for equal pay for black workers in wartime
industries.

But many more tough battles remained to
be fought.

It was 20 years and many lynchings later that
Congress, with some in it still shamefully balk-
ing, passed the Voting Rights Act — and belat-
edly validated the skill, valor and hopes of the
Tuskegee Airmen and of the many more anony-
mous black troops who had fought for Ameri-
ca’s victory abroad, only to have to fight again
for America’s victory over itself.

Noting that the Tuskegee men were often
snubbed by others in the very military in which
they were serving, President Bush said, “I would
like to offer a gesture to help atone for all the
unreturned salutes and unforgivable indigni-
ties” — and formally saluted the aged remnant.

Did the president’s salute seem a bit short of
snappy?

Small wonder. He was lifting some 300 million
other arms along with his own.

(°This article is taken from
Cox News Service).

Court tells Bush to cool it

THE SLOW process of getting the United
States to deal seriously with global warming
came alive last fall when voters unseated Repub-
lican committee chairmen in Congress who con-
sidered climate change a hoax or a threat to
the petroleum industry. Monday’s Supreme
Court decision pushed the federal government
even closer to action by stripping the Environ-
mental Protection Agency of its nonsensical
claim that it could not curb the most common
greenhouse gas, carbon dioxide, because it is not
a pollutant.

Massachusetts led a group of 12 states and
several environmental organizations in a suc-
cessful effort to stop the EPA from arguing
that it was powerless to regulate motor vehicles,
which are responsible for about one-third of
all carbon dioxide emissions. By finding that
this gas is a pollutant as defined by the Clean
Air Act, the court’s 5-4 majority also opened the
door for regulation of emissions from electric
utilities and manufacturers.

In his majority decision, Justice John Paul

NOTICE



NOTICE is hereby given that JEANREN L. JOSEPH OF
EAST STREET, COCO PLUM, 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
senda written and signed statement of the facts within
twenty-eight days from the 27th day of March, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box

N- 7147, Nassau, Bahamas. |

WANTED

A Person Who Speaks German And Italian
To Act As A Personal Representative For

Visiting Tourists.

This Is A Five Day A Week Job But Might
Require Being On Call Some Weekends.

Interested Parties Should Call

Majestic Tours At

323-1410 For Personal Interview.



Stevens said “EPA has offered no reasonable
explanation for its refusal to decide whether
greenhouse gases cause or contribute to climate
change.” The Clean Air Act authorizes the
EPA to regulate pollutants that can “endanger
public health or welfare” and defines “welfare”
to include adverse effects on “weather” and
“climate.”

President Bush pledged during the 2000 cam-
paign to regulate carbon dioxide but then
reversed himself once in office under pressure
from the energy and auto industries. Monday’s
embarrassment should cause Bush to honour
that pledge and direct his EPA to curb vehicles’
carbon dioxide emissions. However, the most
immediate effect of Monday’s ruling might be to
strengthen the authority California has claimed
to insist on strict emission limits in cars sold
there. Ten other states, including Massachu-
setts, plan to adopt the same standards.

(° This is taken from the
Boston Globe — © 2007)




















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Those of usin
island communities:

must support our |
local councils

EDITOR, The Tribune.

FOR years local council
boards on Abaco have com-
plained about Central Govern-
ment making decisions. for
development of local sites with-
out any communication or dia-
logue at the local level. Recent-
ly this concern has come to the
forefront again as a result of
recent discoveries of Bahami-
an Government waste disposal
facilities being constructed
locally without the knowledge
of local boards, members of the
public, or even local Depart-
mental Offices of relevant min-
istries.

The waste disposal project
from the Ministry of Energy
and Environmental Health has
instituted its programme with-
out reference to local councils,
local governmental agencies, or
the public at large. The result
has been the selection and con-
struction, in progress, of two
garbage transfer staging sites;
one in Little Abaco, two miles
from the bridge, and east of
Cedar Harbour; the other on
the road to Cherokee, some
three miles east of the highway
to Sandy Point. Both sites have
become controversial for very
different reasons, but do share
one common denominator, they
are both sit atop very large fresh
water lenses.

The site in Little Abaco sits
in a tract of virgin pine forest,
unique in its geology, endemic
flora and fauna and geographi-
cal location; an area that by all
accounts should be conserved.
This same site is located approx-

_ imately one mile from the runs
of the Black Point sisal planta- -
tion,:a portion of its railway line, .

and.the largest solution hole in
Abaco, all subscribing to the
fact that this area should be pre-
served.

The site in the Cherokee area
of mainland Abaco is located
just over a mile to the west of a
200 acre well field designed to
supply a present demand of up
to 3/4 of a million gallons of
fresh water daily. This same site
borders on a free range small
ruminant (goat) farm to the
south and approximately 2000
aces of Agricultural Co-opera-
tive farmland to the west.

In both cases the implica-
tions of aquifer contamination
are serious.

Both sites are questionable in
their efficiency as temporary
waste holding facilities, because
both Treasure Cay and Sandy
Point waste collection vehicles
will have to travel in excess of
30 miles to dispose of waste.
















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LETTERS

letters@tribunemedia.net




While the Cherokee site is only
eight miles from the Central
land fill (garbage dump), the
Treasure Cay garbage will have
to return over the same 30 mile
stretch of highway on its jour-
ney to the Central land fill four
miles south of the Marsh Har-
bour Airport.

This simplified description
of a portion of Abaco infra-
structural development demon-
strates failures in key areas of
decision making and planning
procedures within the frame-
work of the Bahamian eco-
nomic and physical landscape.

Sadly the majority of the
Abaco public are unaware of
this series of events, even as
they unfold in front of them.
Yet the potential threats to eco-
tourism, to healthy environ-
ment, to agricultural produc-
tion, to historical artifacts, and
to species loss and biodiversity
are real, and alarming.

‘Unfortunately the attitude of
the Project Execution Unit
(Environmental Health)
towards the public at a recent
town meeting in Marsh Har-
bour did nothing to soothe the
individuals and their concerns
over the impact of such a pro-
ject. The attitude from the unit
was somewhat arrogant and
uncompromising in its decision
to proceed regardless.

The public are not attempting
to stop the project; in fact opin-
ion is definitely supportive of
the improvement of waste han-
dling and disposal. The objec-
tion is to the way in which
implementation occurred, and
the lack of knowledge, by the
decision makers, of the local
environment, its assets and the
potential damage and harm as a
result of the rapidity and lack of
consultation with local wisdom.

This whole scenario being
presently played out before our
eyes gives a definite insight into
two important institutions of
Bahamian civil society. Central,
Government (public service),
and the heart of democracy
(local councils).

The Bahamian government
and its attitude to the out island
communities is a present day
reflection of a colonial rule,
where development cannot
occur because the jealous
guarding of power by a central
authority supercedes any notion
of localised powers. The rule by
decree has been gone for over
30 years, but its institution lives
on regardless.

We Bahamians seem to be
under the impression that
democracy and its responsibili-
ties are limited to a general elec-
tion once every five years or so.

vA

eh

We are very proud of our’ ©

extremely high voter turn out, *
and our free and fair electoral
process. However we are not

prepared to shoulder the, ,

responsibility of continuing,”

supervision of our elected gov- ‘

ernment. Rather we have’ ~

allowed this power to be eroded
and eventually taken over by a

public service who by its own .-

naming should comprise our
servants. The existence of local ’
government allows the Bahami-’ _
an public to regain that control °
over our public servants. If |
Bahamian democracy is to grow

a

and flourish, we in the island _

communities must begin to sup-" ©
port our local councils. If we
don’t then Central government ,.
will continue to dictate, with-«”

7

out local dialogue, and our own , |

voices will remain unheard.
“A people get the govern-
ment they deserve.” A

7:

JOHN HEDDEN

Marsh Harbour, ;
Abaco, =
March, 2007.

Raising the

4

minimum

wage is not ~

the solution

EDITOR, The Tribune.

I READ in your paper today ~
that a US State Department’s:'

report says that the Bahamian’ '

minimum wage does not pro- '

vide a decent standard of living: "

for a family.

This may be so, but raising
the minimum wage is not the
solution.

The solution is to reduce the
cost of food by producing it’
locally instead of importing it, “
and provide farm subsidies’:
where necessary. Encourage '
wives to find jobs so that two “
wages are available and where- '
necessary, provide finance to
support baby and child care *
facilities. Lastly, provide cheap
low cost rented housing perhaps ~
with an option to purchase after ’
several years of renting.

Raising the minimum wage:
simply makes small businesses °

%

unprofitable so that there is no -’

growth in the economy and it

also raises labour costs so that! °
tourism, on which this country ~’

depends, becomes uncompeti- ’
tive. a
The TUC should be agreeing:
for the government to address‘

the suggestions I have made ’’

rather than just to raise the min- '
imum wage.

PAUL TATHAM
George Town,
Exuma,

March 7, 2007.

h Royal Bahamian Resort & Offshore Island
Col |

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THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE 5



ein brie? Pyblic call on commissioner

Man charged
with shooting
death in
February

A MAN appeared in Mag-
istrate’s Court yesterday in
connection with a murder
that took place in February.

Ricardo Edgecombe was
charged with the shooting
death of Anthony Woodside
of Fox Hill.

It was alleged that the 26-
year-old Edgecombe of John-
son Road caused the death
of Woodside between Mon-
day, February 26 and
Wednesday, February 28.

Woodside was reportedly
found dead near Kemp's
Alley. He was the 13th homi-
cide victim of the year.

Edgecombe was also
charged with causing harm
to Sherman Johnson on
Monday, March 5, while at
Ninja Lane in Fox Hill.

He was not required to
enter a plea to the charges
and was remanded in cus-
tody.

The matter was adjourned
to July 20 when a preliminary
inquiry is to take place.

Support for
dialogue
between US
and Cuba

@ MIAMI

CUBAN-AMERICAN
support for a dialogue
between dissidents and
Cuba’s government has risen
and support for the US trade
embargo of the island nation
has slipped, a survey released
Monday found, according to
Associated Press.

The Florida International :

University poll of Cuban-
Americans in Miami-Dade
County found 65 per cent of
respondents support talks
between exiles and dissidents
with the Cuban government,
the highest level in the his-
tory of the survey. :

The same poll in 2004 i

found 56 per cent of partici-
pants supported such talks;
the first one, in 1991, found
about 40 per cent were in
favor of them. About 57 per
cent support the reestablish-
ment of diplomatic relations
between the US. and Cuba,
the latest poll found.

A majority of poll partici-
pants, 58 per cent, support
the continuation of the
Cuban embargo, though only
24 per cent said the policy
has worked well. Support for
the embargo was down from
66 per cent in the last poll to
its lowest level ever.

About 29 per cent said the
embargo should be ended
immediately; 8 per cent said
it should end when Fidel Cas-
tro is out of power: 11 per
cent called for its end when
both Castro and his brother
Raul are gone. Around 37
per cent said the embargo
should be halted only when
there is both democracy and
a free economy in Cuba.

About half — 51 percent —
favored US military. action to
overthrow Cuba’s government.

ee Ualh
UTS

FOR PEST PROBLEMS
. PHONE: 322-2157

Rs

; TUESDAY,
: APRIL 3RD

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FAMILIES in the South
Beach area are furious over the
behaviour of a drunken “rogue”
policeman who they claim is
making their lives a misery.

They allege he is part of a
“culture of police brutality”
which is targeting teenage boys
in particular.

They want Commissioner
Paul Farquharson to step in and
halt the drunken policeman’s
“reign of terror” in the area and
force him into rehab.

The families claim the officer
attacks boys constantly, often
resorting to violence. “This man
is very unprofessional — inno-
cent civilians are attacked for
no apparent reason and beaten
badly each week,” a source said.

One young victim claimed he

was picked up by the officer,
beaten after being falsely
accused, then locked up while
the policeman went to Adelaide
to have a drink.

The boy alleged he was
denied phone calls and anything
to eat while detained by the
officer.

Another victim claims the
officer put a gun down his
throat and kicked him.

It is alleged the policeman
drinks on the job and is in des-
perate need of anger manage-
ment treatment. “Rehab inter-
vention should be enforced,”
The Tribune was told.

“This is not an attempt to
cause the officer to lose his job,
but he needs to be evaluated.”

When a mother complained





ee we a Bi

H COMMISSIONER Paul
Farquharson

about the policeman’s behav-
iour, he allegedly replied: “You




better shut up before I put you
in the same cell as your son.”

The source said: “With all the
scandal that is going on in the
Bahamas, until this shocking
statement, I have always
respected the Bahamas for
being Christian.

“These allegations were hard
to believe, but this type of
behaviour from various police
officers has been going on for
years. Don’t Bahamian taxpay-
ers have rights?

“Another victim has stated
that when the officer arrested
him, he was shoved into the
interrogating room harshly in
the chest area. Then the officer
told a colleague to close the
door so the boy’s cries would
not be heard.”

to handle ‘rogue’ policeman

Victims of police abuse in the
area are now being urged to file
official complaints. Restraining
orders are being considered to
ensure children’s safety.

Responding yesterday, Com-
missioner Farquharson asked
that those persons making the
complaint come to his office to
explain the situation.

The commissioner said he
will do his best to address the
problem.

He said he would "most cer-
tainly" take steps to have the
officer put into a rehabilitation
programme if the allegations
turn out to be true. - :

"They can come and see me..
My door is open, we'll get this
matter corrected," Mr Far-
quharson said.

‘contamination’

PEOPLE in Golden Gates
fear Shane Gibson’s new cam-
paign headquarters might be as
“contaminated” as he is, it was
claimed last night.

The freshly-painted building
in Carmichael Road was con-
demned some years ago
because of an underground fuel
leak, said independent election
candidate Clever Duncombe.

And locals are wondering
whether due diligence was done
on the building before it was
converted into Mr Gibson’s
election base, newly-painted in
PLP colours.

“The building could be as
contaminated as he is,” said Mr
Duncombe as he laughed off

reports that the headquarters’
grand opening over the week-
end was well-attended.

“T know a lot of people were
there, including many of my
own supporters wearing their
PLP T-shirts,” he said.

“At election time, lots of peo-
ple follow the food and drink.,
But I believe that, for Mr Gib-



son, this was The Last Supper,”
he added.

Mr Duncombe’s comments
came as people in Golden
Gates expressed concern over
the large concrete house and its
past.

He said the last family moved
out some yéars ago after the
fuel leak scare. The house was

PLP claims Ingraham attacking Pratt with
comments about religion and politics

@ By PAUL TURNQUEST
Tribune Staff Reporter

THE PLP is demanding a
public apology from FNM
leader Hubert Ingraham for

- what they claimed was a “cal-

lous and crude” attack on
Deputy Prime Minister Cynthia
Pratt.

According to party chairman
Raynard Rigby, Mr Ingraham’s
comments on Saturday morn-
ing at the FNM’s prayer break-
fast about politicians using reli-
gion to “bolster their politics”
was directed at Mrs Pratt.

Although Mr Ingraham did
not identify anyone in his gen-
eral remarks about hypocrisy
and the misuse of religion, Mr
Rigby said Mr Ingraham was
“obviously” referring to the
deputy prime minister.

‘While trying to be clever in
his use of language by not calling
names, in the view of the PLP he
is obviously referring to the only
ordained minister of the gospel
in the Cabinet, our dear deputy
prime minister. We hasten to
add that the DPM is not, how-
ever, a pastor of a church.

“Referring to our deputy as a
‘hypocritical preacher’ is most
unfortunate and shows the
nation that Hubert Ingraham
has little respect for a woman of

profound belief in God who wit-
nesses every day even while
respecting ‘the differing views
of others. There is no-one who:
would argue ‘her sincerity of
purpose and her goodness of!
heart and the witness of her
works,” he said.

Mr Rigby said it was
appalling in his estimation to
hear Mr Ingraham attempt to
discredit the “integrity and cred-
ibility” of one who had given
much to the nation and who
also takes great comfort in
preaching the word ‘of God.

“In fact, this is the same
preacher who openly and pub-
licly indicated that she prayed
for Hubert Ingraham when he
was the prime minister.

“Ingraham continues to send
the wrong message, and as a
leader of a political party, he
should be fully aware that our
constitution recognises and pro-
tects religious freedom and the
right of Bahamians to belong
to a church of their choice.

“This can’t be the same
Hubert Ingraham who shortly
after becoming the leader of the
opposition went publicly back
to Zion Baptist Church to reaf-
firm his membership there. It
was done in a blaze of publicity.

However, the FNM leader
said that the PLP could not pos-

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Do what tastes right?

i
i

sibly be expecting an apology
from him. Mr Ingraham said that

he already said all he had to say

at the FNM’s prayer breakfast.
“JT want to say at this juncture

and say it clearly,” Mr Ingra-

ham said at that event on Satur-

day, “There are some in political -

life in our country today who
have taken to using religion to

‘bolster their politics. They use

religion as a means to an end. A
prop to be taken up and put
down as the wind blows.

“These same individuals seek
to defame and denigrate others
who do not behave as they do.
For my part I say that a preach-
er lam not. A politician I am. I
do not pretend to be anything I
am not. I am no hypocrite. My
faith and my religion are mat-
ters that bring me spiritual
enrichment.

“I believe in Almighty God. I
believe in His son Jesus Christ.
I respect my God. I respect my
Lord Jesus Christ. I will not play
with God and I will not play
with the Lord Jesus Christ.

“I do not attend church so
that others might see me. Jesus,
after all, warned us about those
who do such things. He called
them hypocrites. A hypocrite I
am not. I do not put my faith on
display for politics,” he said.



said to be badly contaminated
at the time.

“Many feel it could still be
dangerous,” he added, “just as it
would be dangerous to re-elect
Shane Gibson.”

Mr Gibson, according to his
challenger, is still suffering enor-
mous fall-out over the Anna
Nicole Smith issue.

“The turnout at the head-
quarters opening means noth-
ing,” said Mr Duncombe. “I am
not fazed one bit. What I bring
to the table is success at tackling
real issues.

“T am no slouch when it
comes to doing things. Iam a
child’s rights advocate who







DEPT. NASSAU



EASTER IN
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worked for the passage of the

_ Child Protection Bill.”

Mr Duncombe also expressed
disquiet over Bishop Ros
Davis’s decision to host a PLP
party in the grounds of his
Golden Gates Assembly
church.

“Why would a minister of
the gospel become. so
involved in politics?” he
asked. “He should not be ©
serving two masters. Either
he should do spiritual duties
to minister to all humankind
or get involved in frontline
politics. But he should not use
church grounds to host polit-
ical events.”









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PAGE = 6, TUESDAY, APRIL 3, 2007

THE TRIBUNE





LOCAL NEWS



Child abuse problem ‘has spiked
‘ramatically in past several months’

AMARA FERGUSON

blem of child abuse
to grow and has spiked

lly in the past several
Viinister of Social Ser-
viclanie Griffin said.

ling to Mrs Griffin, over
r, a total of 618 new
‘ew Providence were
the Child Abuse and
Units of the Depart-
ia! Services for inter-

I'm concerned about —

4p tuble level of neglect
of our children which
) the past few months
| a level basically

to the Bahamas.”
vinister said that if the
expects to maintain its
as a Stable, democratic
children must be molded
lesome and productive

ling ata press conference

epartment of Rehabilita-:

cltare Services to launch
otection Month, Mrs Grif-
| (hat children who will













HB MINISTER of Social
Services Melanie Griffin

become the architects and
builders of strong communities,
must be nurtured in an environ-
ment. where they are confident
and self-assured.

“We must consider all aspects
of child protection, which would
positively contribute to the devel-
opment of positive young adults

Gia

UE





Ny SERVICES



Matthew's Anglican Church

7 Shirley &

Church Street

DAY 2nd April - 7:30pm — BtalionsiGt the Crone

ESDAY 3rd April —- 7:0Gam Mass;
Gom ~- Service of Reconciliation

‘DNESDAY 4th April - 7:00am & 1:00pm Mass:
om Mass of the Chrism, Christ Church

dral.

clergy renew their vows at this service.

SAUNDY THURSDAY Sth April — 7:30pm Holy
icharist, Washing of feet and Watch before Altar of

ise, until midnight

>OOD FRIDAY 6th April — 9:00am Liturgy for Good
‘riday; 12noon — 3:00pm Devotions on the Seven

st Words

'‘STER DAY 8th April - 6:00am Easter Vigil & Holy

icharist:

10:30am -

Solemn High Mass,

; Fr ocession & Baptism; 7:00pm Solemn Evensong,

Sermon & Benediction



2 Ll ershes

auth 7 LSS

who will preserve and live by the
ideals of our nation’s constitution;
young people who will be physi-
cally, spiritually, mentally and
emotionally prepared to lead our
country,” she said.

Mrs Griffin noted that in 2005,
there were 54 reported cases of
sexual abuse, but that this
increased to 119 in 2006.

There were 163 cases of physi-
cal abuse in 2005 and 164 in 2006.

In 2005 there were 38 cases of
incest, reduced to 19 cases in 2006.

According to Mrs Griffin, this
year’s theme for Child Protection
Month, “Protect our children, pre-
serve our future,” was chosen to
underscore the importance ensur-
ing that the children of today are
adequately prepared to lead the
nation in the future.

Mrs Griffin said that there are
many ways each individual can
take part in the effort to protect
children.

“We can empower our children
emotionally by nurturing family
relationships that would allow
them to feel comfortable with
sharing their innermost thoughts



and feelings with us. We can also
create an environment in our
homes where children would be
able to tell someone they trust, if
anyone is abusing them,” she said.

Mrs Griffin said children should
be taught that mental cruelty and
being made to feel bad about
themselves are also forms of
abuse.

She also noted that “neglect”
is the second most reported cate-
gory of abuse against children. In
2005 there were 230 cases of
neglect. This went up to 292 in
2006.

The bill for a new Child Pro-
tection Act was tabled in the
House of Assembly by Mrs Grif-
fin last year. She said the bill was
designed to ensure the safety and
protection of children throughout
the Bahamas, and will increase
existing penalties for persons
found guilty of child abuse.

The main issues dealt with by
the Child Protection Act are:
parental responsibility, the con-
cept of significant harm to chil-
dren and expanding the definition
of cruelty to a child.

ABO
Crowds gather at the
opening of the PLP
Golden Gates
constituency office
on Friday night.

BH LEFT: Cutting
the ribbon at the
opening of the Gold-
en Gates constituency
office.

From left to right:
Prime Minister Perry
Christie, Golden
Gates MP Shane
Gibson, Bernadette
Christie, Mr Gibson’s
wife Jackie Gibson.

(Photos: Franklyn
G Ferguson)





















@ THE Ministry of Social Services and Community Devel- |
opment in conjunction with the National Child Protection
Council has planned a number of events for Child Protection
Month to educate the public about child protection.

These include:

e April 3 —- A presentation on “Save our Children” at
7.30pm at the Kiwanis Club Holy Cross Auditorium

¢ April 5 — Children’s Hour radio show at 3.30pm at

Abundant Life Bible Church

¢ April 11 to 13 — An exhibition from 10am to Spm Mall at

Marathon

e April 12 — Children’s Hour radio show at 3.30pm at

Abundant Life Bible Church

e April 12 —- An Urban Renewal town meeting from 6pm

to 8pm at the Church of God of Prophecy
e April 16 to 20 — A radio show from 10am to 12am with

Jeff Lloyd

April 17 —- A parenting seminar for Bott men and women
from 9am to 5pm at Her Majesty’s prison

e April 19— An Urban Renewal town meeting, from 6pm
to 8pm at Uriah McPhee Primary School

_ @ April 20 — A television show at 6am on Bahamas at

Sunrise
e April 24 -

A town meeting from 6.30pm to 8.30pm at

Mount Tabor Full Gospel Church
e April 26 — A radio show at “7pm on ZNS called: “Bridg-

ing the Gap”.

e April 26 — A town meeting from 6pm to 8pm at St
Michael’s Methodist Church, Churchill Avenue

PM’s claim is

challenged again as : :



Speaker described ”
as ‘serving pastor’ -

PRIME Minister Perry
Christie’s claim that
ordained ministers should
not be in politics was chal-
lenged again yesterday when
the Speaker of the House
Assembly was described as
a serving pastor.

Residents of Eleuthera
said Mr Oswald Ingraham is
head of the Ebenezer Gospel
Chapel in Tarpum Bay.

“This church was built by
Mr Ingraham on his person-
al property on the main
Queen’s Highway. It is head-
ed up by him and he is the
pastor,” said an island
source.

The disclosure came in
response to the PLP’s ongo-
ing dispute over the Rev CB
Moss and his rejection as an
election candidate for the
Bain and Grants Town con-
stituency. -

Prime Minister Christie,

Christ Church Cathedral

Schedule of Services for Holy Week 2 Easter
April 1st - April 8th, 2007

Sunday April Ist Sunday of The Passion & Palm Sunday

7:30 a.m.
8:45 a.m.

6:00 p.m.

11:15 a.m.

Holy Eucharist

Holy Eucharist

Monday April 2nd-1:00 p.m.
Holy Eucharist

The Liturgy of the Palms
Procession & Liturgy for Palm Sunday
Blessing & Distribution of Palms

Evensong, Sermon & Benediction

Tuesday April 3rd - 7:00 a.m. & 12:30 p.m.

Holy Eucharist

Wednesday April 4th - 7:00 a.m. & 1:00 p.m.

Holy Eucharist

7:30 p.m.

Liturgy of the Renewal of Priestly Vows & Blessing of Holy Oils

Thursday April 5th - Maundy Thursday 7:30 p.m.
Commemoration of the Last Supper &
Watch before the Altar of Repose

Friday April 6th - Good Friday 9:00 a.m.

Good Friday Liturgy

Service Times For Sunday April 8th, 2007

Easter Sunday

6:00 a.m. The Easter Vigil
7:30 a.m. Holy Communion

9:00 a.m. Procession, Family Eucharist
11:15 a.m. Holy Eucharist
6:00 p.m. Solemn Evensong, Sermon & Benediction



explaining Rev Moss’s fail-
ure to get nominated, said

he had been told by several *

prominent clergymen that
serving ministers should not
be involved in politics.

Rev Moss, who claims he

was betrayed by the PLP,

who had earlier promised
him the nomination, has now
challenged Mr Christie to
name the clergymen he is
referring to.

But Eleutherans stepped '

in over the weekend to claim

that Mr Christie’s assertion °

was nonsense and that par-

liament’s senior official is a .

practising pastor.

One said: “I don’t under-
stand the PLP’s preoccupa-
tion with C B Moss’s dual
role of politician and man of
God. Oswald Ingraham, the
Speaker of the House, is the
head of his church in Tarpum
Bay.”

In yesterday’s Tribune,
several serving politicians
were named as ordained
ministers; including Deputy
Prime Minister Cynthia
Pratt.

Rev Moss now wants to
know when the PLP reached
its decision that churchmen
should not be in politics.

Following the 2002 elec-
tion, he said, the PLP had
nominated him a senator,
despite his active role in the
church.

Furious at what he has
described as a broken
promise, Rev Moss has now
split with the PLP and
intends to run in the election
as an independent.

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.





780 e sneer FZ

o
‘ tee’

SLT FES oe eV Ss PE ES a

*
, eet a a!

ae ee

-2ewe

ea

Pweeee sea

+ MeL 8 Be ew a oS

FF 2 Ae See a2 28 CFe

ts

FP eam a



THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE 7





LOCAL NEWS

Circus condemned as the ‘saddest



show in town’ by animal activists

A NUMBER of animal rights
groups have condemned the
repeated granting of permission
to bring animals into the
Bahamas for use as “circus acts”.

Advocates for Animal Rights
(AFAR), ‘the Bahamas
Humane Society, Animals
Require Kindness (ARK), and
reEarth have come together to
label this practice as inhumane
and environmentally damaging.

“We do not believe in ani-
mals being exploited for human
entertainment,” said a policy
statement from the Humane
Society.

Sam Duncombe of reEarth
added: “The invitation of a trav-
elling circus can only further
harm the Bahamas’ cultural
perception of animals and con-
done the irresponsible attitudes
towards environmental conser-
vation and preservation in our
younger generations.

“We do our youth an injustice
by exposing them to showtime
images of wild animals, unable
to respond naturally to their
own environments or contribute
to the continued existence of



such,” she said.

“It is unacceptable to see wild
bears dancing, elephants stand-
ing on their heads, horses walk-
ing on their hind legs, or hyena’s
jumping through hoops, none
of which is natural behaviour
to any of these species.”

A Humane Society spokesman
stated: “The untold suffering and
anguish of animals shut in tiny
cages, enduring cruel training
methods behind closed doors and
suffering the rigours of excessive
travel is out of sight and out of
the minds of the majority.”

These statements come on
the heels of the Ministry of
Education’s announcement of
its intention to publish a book
entitled “Environmental Stew-
ardship” in an effort to promote
environmental awareness and
protection in all Bahamian
schools.

Mrs Duncombe said the gov-
ernment is sending out a con-
flicting message: on the one
hand promoting environmental
stewardship with the launch of
the book, and on the other
“undoing all of that work by

Baptist Church
Fifth Street, The Grove



FROM THE

CROSS —

WEDNESDAY, APRIL 4, 2007
AT 7:30PM

BRO. [AN BRATHWAITE JR
“Father, Forgive Them” Luke23:34

PROPHETESS KORALEE BRATHWAITE
“Woman Behold Thy Son”
St. John 19:25-27

PROPHET LENNOX ROWE
“Tt Is Finished” St. John 19:30

DEACON LUBIN BAPTISTE
‘My God, My God, Why Has Thou
Forsaken Me” Matt 27:46

allowing permission for animal
circuses to enter the country.”

“It is hypocritical of the gov-
ernment to promote environ-
mental stewardship whilst also
condoning environmental dam-
age by the removal of species
from their natural habitats by
encouraging Bahamians to
attend circus shows that include
wild animals,” she said.

Mrs Duncombe also pointed
to the neglected, but inherent,
danger that wild animals pose to
the public — as over-stressed,
captive animals have been
known to escape circus com-
pounds and either attack the
public or severely damage pub-
lic property.

She said there have been
more than 200 incidents where
people have been killed or
injured since 1990 by captive
elephants alone.

Jane Mather of Advocates for
Animal Rights asked if the gov-
ernment has a contingency plan
to control the escape of wild
animals from the Circus Max-
imus, being held at R M Bailey
park this month.

MIN. LEON EUGENE
“Today Thou Shall Be With Me In
Paradise” St. Luke 23:43

SIS. NADEEN EUGENE
“I Thirst’ John 19:28

PASTOR SALATHIEL ANDERSON



“Father Into Thy Hand”
St. Luke 23:46

- oree’s husband; Mar-

“In- all cases of animal wel
fare, exploitation, captivity,
treatment and preservation, the
Bahamas seems to be lagging
behind,’ Mrs Duncombe said.

The Bahamas Humane Soci-
ety, Advocates for Animal
Rights, Animals Require Kind-
ness, and reEarth called for a
national ban on shows involving
wild animals in the Bahamas.

This includes travelling cir-
cuses, flamingo dancing
parades, dolphin swims and any
type of display involving the
exploitation of animals

“We propose that only circuses
involving human acts be allowed
into the Bahamas ~ such as the
Canadian Cirque De Soleil,’ they
said in a joint statement.

Mrs Duncombe continued:
“Wild animals need to be. in
their natural habitat, surround
ed by the forces of nature that
have created them, socially
intermingling with their fami-
lies and competitive groups
not standing in cages, chained
to concrete, enclosed in cages
forced to perform in unnatural
ways and treated with violence.





RB ACTIVISTS have criticised the used of animals in circuses,
like these elepants in Munich last year
(Photo: AP/Uwe Lein)

Anita Bernad retires after 46 years serving
in schools and government positions

BH SURROUNDING A GALA retirement banquet was As permanent secretary, Mrs
Bernard’s four-layer held in honour of Anita Bernard,to Bernard has served in the ministries
cake from left to right celebrate her 46 years of public ser- _ of tourism, education, youth, sports

and culture, immigration and the
ministry of works and utilities.

Married to George Bernard III,
Anita is the proud mother and
grandmother of three daughters, one
son and eight grandchildren.

vice.

During her career she has held
myriads of titles, serving as a teacher,
senior training officer, public service
administrator and permanent secre-
tary:

are: Elma Garraway,
permanent secretary
in the Ministry of
Health and National
Insurance; Minister
of Tourism Obie
Wilchcombe; Canon

Warren Rolle of St

Mary’s; Canon Sh Y

Be nae are your news
een Suen The Tribune wants to hear from people who are making news
Bernard: George in their neighbourhoods. Perhaps you are raising funds for a
Bernard III, hon- good cause. campaigning for improvements in the area or

have won an award.
If so, call us on 322-1986 and share your story.

jorie Davis, former
director of education.





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PAGE 8, TUESDAY, APRIL 3, 2007

THE TRIBUNE



Scientists and diplomats to finalise

report on impact of climate change

@ NETHERLANDS
Amsterdam

FOR people in their 30s, cli-
mate change already has
reshaped the world to which
they'were born, according to
Associated Press.

By the time they reach retire-
ment age, the changes will be
far more dramatic — and per-
haps life-threatening on a mas-
sive scale, an authoritative UN
study,will say this week.

On Monday, the Intergov-
ernmental Panel on Climate
Change, a network of more
than_2,000 scientists, opens a
five-day meeting in Brussels,
Belgium, to finalise a report on
how warming will affect the
globe and whether humans can
do-anything about it.

The panel will paint a bleak
picture of increasing poverty,
paucity of drinking water, melt-
ing ‘glaciers and polar ice caps,
and a host of vanishing species
by'mid-century unless action is
taken to curb emissions of car-
bon dioxide and other heat-
trapping gases.

Some regions like parts of
North America and northern
Europe will see some benefits,
at least in the short term, from
longer growing seasons and
milder winters. ;

Even the most optimistic
forecasts say the climate will
continue to change and the
plan@t will be irrevocably dam-
aged The question is, how
much?

"We are going into a realm
' the ‘Earth has not seen for a
very long time... over the past
800,000 years," said Camille
Pagbsan, a University of Texas
biolggist who has studied the

effects of climate change on
wildlife and was a reviewer of
the upcoming report.

A draft of the IPCC's sum-
mary has been obtained by The
Associated Press, but policy
makers will go over the docu-
ment line-by-line this week
before unveiling the final text
Friday. It will then become a
guideline for governments to
determine policies and draft leg-
islation.

About 285 delegates from 124
countries are attending, along
with more than 50 of the scien-
tists who compiled the report
and dozens of observers from
nongovernment, mostly envi-
ronmental, organisations.

The closed-door talks are
likely to focus on predictions of
how many people will be at high
risk from changing ecosystems
and water cycles, and whether
such specific weather events like
Hurricane Katrina should be
attributed to global warming.

"Do you use examples? And
do you use ones that are rela-
tively positive or highly nega-
tive?" said Rik Leemans, a co-
author from Wageningen Uni-
versity in the Netherlands.
"You can tone it down or
strengthen it by including exam-
ples, and that's always an issue
in these discussions.”

Concensus

The summary's final wording
must be adopted by consensus
among the diplomats, with the
approval of the scientists.

While there may be editing
for the sake of nuance, the
underlying premise of the draft
report will not change. "A







a A POLAR bear plays on the tundra near Churchill, Manitoba, Canada, in this November 3,

2006 file photo. Animal and plant species have begun dying off or changing sooner than need
because of global warming, a review of hundreds of research studies contends.

(AP Photo/CP, Jonathan Hayward)

decade ago, climate impacts
were largely hypothetical," said
James J. McCarthy, a Harvard

_ University oceanographer who

was a main author of the 2001
IPCC report. "That's no longer
a question."

It is the second of four
reports by the IPCC. The first,
issued in February, updated the
science of climate change, con-
cluding with near certainty that
global warming is caused by
human behavior.

That report galvanised the
European Union to adopt an

ambitious goal of reducing car-
bon emissions by at least 20 per
cent from 1990 levels by 2020.

The IPCC's work will be pre-
sented at a summit in June of
leaders from the world's rich-
est countries, including US Pres-
ident George W Bush whose
administration has declined to
take coordinated action with
other nations to limit green-
house gases.

The latest report was six years
in the making. Since the IPC-
C's 2001 assessment, knowledge
about climate change has

become more precise, and stud-

‘ ies have tracked specific shifts

on the ground to changing tem-
peratures and weather patterns.

"Many natural systems on all
continents and in some oceans
are being affected by regional
climate changes, particularly
temperature increases," reads
the final draft.

Parmesan said storms and
floods have become more
severe in some places, coast-
lines have eroded and deserts
have expanded. Diseases com-
mon in the tropics have spread.

In the northern hemisphere,
spring is coming an average two
weeks earlier, disrupting bird
migrations and causing flowers
and trees to bloom too early.
At least 70 species have become
extinct so far because of global
warming, Parmesan said in a
telephone conference with
reporters.

The report will offer stark
warnings for the future.

Within 25 years, hunger and
death from diarrhea will threat-
en poor countries where crops
fail and water becomes more
scarce. Later in the 21st century,
warmer seas will likely destroy
coral reefs and the fish that feed
off them, and may lead to the
poisoning of shellfish. Tens of
millions of people in coastal
cities and river basis will likely
be affected by flooding, and
fresh water supplies will likely
be inundated with salt water
from sea surges. Small islands

will probably be submerged by _

rising sea levels. Beetles and
other pests are expected to
infest forests even more, with
forest and wild fires more fre-
quent and widespread.

But the scientists say not all
these dire consequences have
to happen. A third report to be
released in May will outline pos-
sible ways to slow the affects of
global warming.

"These are projections that
many of us believe don't have to
be the future; many of these can
be avoided" by reducing emis-
sions of greenhouse gases from
the burning of fossil fuels, said
Harvard's McCarthy. Though
the scientific projections are sol-
id, he said he is optimistic the
worst won't happen — "because
we can't be that stupid."

Judge advances lawsuit claiming overseas Projects
* backed by. US contribute to global warming —

KEMP'S FUNERAL HOME LIMITED |

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

La
: _ Merih (Mary)
Haines nee Yohanides

| of Westward Villas,
Cable Beach,
Nassau, The
Bahamas will be
held at the
Annunciation
Greek Orthodox

| Church, West
Street, Nassau on
Thursday, 5th April,
2007 at 11am.

Father Theodore Bita, Economos will
officiate and interment will follow in
Woodlawn Gardens Cemetery, Soldier

Road, Nassau.

Mrs. Haines was pre-deceased by her
husband, Thomas Haines and is survived
by three children, Jean Lightbourn, Errol
Haines and Charmaine Hills; two sons-in-
law, Bradley Lightbourn and Barry Hills;
one daughter-in-law, Daphne Haines; six
grandchildren, Sandra, Michelle and Dr.
Jacqueline Lightbourn, Christopher and
Chantal Letts and Dmitri Haines; two step-
grandchildren, Heather and Michael Hills;
two sisters-in-law, Venice Gorsun and June
Glennon; neices, nephews and other
relatives and friends, especially Mary and |
Steve Antonas, John Tevia Antonas, Kendal |
and Debbie Munnings, Nina Berdanis,
Jackie Sawyer, Bridget Duncanson, Shirley
Francisco, Christina Moretti, Dejasson
Orvil, Terry Jolly and Barbara Harris.

A rhanoenanes by Kemp's Funeral Home
Limited, 22 Palmdale Avenue, Nassau,

The Bahamas.



& SAN FRANCISCO

A FEDERAL judge has
advanced a lawsuit against the
government over its funding
of overseas projects that envi-
ronmental groups claim con-
tribute to climate change,
according to Associated Press.

The lawsuit, filed by environ-
mental groups and four US
cities, claims that the overseas
projects will harm the US envi-

ronment because the effects of &

global warming will be felt at
home, and seeks to require the
same environmental reviews

that are required for domestic ,

Pinder s Funeral Home
“Service Beyond Measure”

PALMDALE AVENUE, NASSAU, BAHAMAS
PHONE: 322-4570/ 393-1351 ¢ CELL: 357-3617

RANNIE PINDER President
Re eae a

William Higgs

of Spanish Wells who
died at Doctors Hospital
on Monday will be held
at the Methodist
Church, Spanish Wells,
on Wednesday, April
Ath, 2007 at 2:00 p.m.
Burial will be in the
church cemetery. Mr.
Ronald Pinder, Mr.
Billy Kemp and Pastor

Willie Pinder officiating.

He is survived by his wife, Rosemary Higgs;
one daughter, Theresa Robson; one son, David
Higgs; one daughter-in-law, MaryJo Higgs;
one son-in-law, Dion Robson; two grand
children, Joshua Higgs and Shania Robson;
two sisters, Gwenie Chilson and Emily Roberts;
three brothers-in-law, Jack Sweeting, Wayde
Sands and Eric Sturrup; three sisters-in-law,

Darnell Sturrup, Sylvia Higg

s and Rapunzel

Sturrup; many nieces and nephews and many
other relatives and special friends.

Funeral arrangements are being handled by
Pinders Funeral Home, Palmdale Avenue,
Palmdale. In lieu of flowers donations may be
made to Cancer Society of the Bahamas, P.O.

Box SS 6539.





projects.

The projects at issue in the
lawsuit include a pipeline from
Chad to Cameroon; oil and nat-
ural gas projects in Russia, Mex-
ico, Venezuela and Indonesia;
and a coal-fired power plant in
China. Since the lawsuit was
filed in 2002, several of the pro-
jects have gotten well under
way or have been completed.

The Bush administration had
argued last year that the
“alleged impacts of global cli-
mate change are too remote
and speculative” to require the
reviews.

But in allowing the lawsuit to
proceed, US District Judge Jef-
frey White on Friday cast doubt
on the administration’s asser-
tion that disagreements remain
about the connection between
human activity and climate
change. He also cited increased
attention on the issue in the
news and entertainment media,
including Gore’s documentary,
“An Inconvenient Truth.”

"It would be difficult for the
court to conclude that defen-
dants have created a genuine dis-
pute that (greenhouse gases) do
not contribute to global warm-

Share

your
news

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you are raising funds for a
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award.

If so, call us on 322-1986
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ing,” White wrote in his ruling.

The lawsuit names two agen-
cies — the Overseas Private
Investment Corp. and the
Export-Import Bank of the
United States — that insure bil-
lions of dollars of U.S. investors’
money for foreign projects,

including power plants that emit .

greenhouse gases such as car-
bon dioxide.

White accepted the plaintiffs’
argument the National Envi-
ronmental Policy Act, or
NEPA, can apply to the US-
backed projects overseas. The
law requires environmental
assessments of proposed domes-
tic projects. The administration
had argued that the agencies
were exempt from NEPA.

However, White said he did
not have enough information
to rule on the question of
whether the projects at issue
constitute a “major federal

action” that would significantly

affect the environment — an
important criteria for NEPA.

Plaintiffs, which include
Friends of the Earth and Green-
peace, as well as the city of
Boulder, Colorado, and the Cal-
ifornia cities of Oakland, Santa
Monica and Arcata, claim those
projects and dozens of others
received more than $32 billion
in financial assistance without
an evaluation of their global-
warming impacts at home.

Ronald Shems, an attorney
representing the plaintiffs, said
the lawsuit goes on in hopes
that it can set ground rules for
future overseas projects. If suc-
cessful, the lawsuit also would
promote transparency in
NEPA, he said.

Spokesmen for the two gov-
ernment agencies did not

respond to phone messages Sat- :

urday seeking comment.

Mark Bethel
HostSpeaker

Alvin Moss
Featured

bik pia jars:

TS





THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE’ 9



Bomb scare

FROM page one

during the second bomb scare appeared to be “hand-



Call for gay election candidates to declare sexuality

GAY election candidates should
declare their sexuality before seeking
the votes of the public, it was claimed
last night.

Clever Duncombe, who is contesting
the Golden Gates seat as an indepen-
dent, said voters had a right to know
where candidates stood on family and
social issues.

And sexuality, he said, often affect-
ed an MP’s stance on such matters.

The child’s rights advocate said since
gay sex was legalised in the Bahamas
16 years ago, there had been a “prolif-
eration” of homosexuals and lesbians.

While he had nothing against gays or
their lifestyle, he wondered whether
Bahamians were ready to elect them to

parliament.

He said voters had a right to know a
candidate’s sexual proclivities because
they so often influenced the way they
viewed important social and domestic
issues.

He said gay candidates ought to be
bold enough to declare their prefer-
ences. “If they are bold enough and
believe it, then why hide it?” he asked.

He criticised both Prime Minister
Perry Christie and Opposition leader
Hubert Ingraham for not taking a posi-
tion on this important question pub-
licly.

He said candidates should declare
their sexuality so that voters could take
this into account.

“T should not be reading the tabloids
to find out after I have voted for them
what their real position is on children’s
rights and other important social issues.

“But I ask questions that these hyp-
ocritical politicians only imagine in
their minds,” he said.

“I have no problems with people
who are gay, but I have a great prob-
lem with those who hide it and pre-
tend they are something else.”

Mr Duncombe is running against
former immigration minister Shane
Gibson and FNM candidate Don Saun-
ders for the Golden Gates seat in the
House of Assembly.

Ever since deciding to run, he has
been advocating live public debates

for all election candidates.

During campaigning, he had vehsed
a “big appetite” for live community
debates, with all candidates appearing
on the same podium “to discuss issues
that concern us.’

He said there were very important
social issues facing the Bahamas,
including the problem of under-age
mothers.

He expressed alarm at the numbers
of pre-pubescent girls falling pregnant
and said there had even been an
eight-year-old mother in the last few
years.

He said a child’s rights advocate like
him was needed because of the “bla-
tant neglect” of the nation’s children.

@ INDEPENDENT candidate Clever Duncombe said voters had a right to know where candidates stood on family and social issues. os

‘

Howard K Stern

FROM page one

missed or withdrawn, the party that has

Senators seek to ensure

made and crude.” According to Atlantis it was
“found by an employee in a linen carrier.”

Atlantis said that the area was isolated and the
police were called in.

“The device was removed and dismantled without
incident.”

It was further claimed that although the device
most likely could not have caused an explosion, it
may have caused a fire to break out on the resort’s
premises if it had not been detected.

However, sources close to the incident said it was
unlikely that any fire that resulted from the device
could have done serious damage to the resort or
threatened the safety of any of the guests.

Speaking with The Tribune yesterday, press liaison
ASP Walter Evans said that police have been alert-
ed about a number of bomb scares in the past week
— including one at the College of the Bahamas.

“You will get these kinds of things happening at a

brought the action has to cover the respon-
dent’s fees.

The justices of appeal essentially pointed
out that Stern had agreed in a lower court to
submit the child to a DNA test, submitted to
the DNA test, then subsequently chose to
challenge the judge’s ruling, though in fact
his only challenge was that the DNA test be
done by a different doctor. Justice Ganpats-
ingh said the court would make no comments
on the merit of the matter but found the appli-
cation inconsistent.

Stern is listed as the father on the infant’s
birth certificate, but photographer Larry Birk-
head, Smith's ex-boyfriend, claims he's the
child’s real dad.

The baby, whose full name is. Dannielynn
Hope Marshall Stern, could inherit millions
from the estate of Smith's late husband, J.

outstanding Bills debated

FROM page one

Defence Force Act, and the National Heroes
Act.

While well informed sources had claimed
over the weekend that the House was to be dis-
solved yesterday, this failed to occur, leaving
open the possibility that it may do so as early as
today.

Some sources say that the dissolution will not
be called for until all Bills passed by the House
have been passed in the Senate, while others
have indicated that it may happen despite cer-
tain Bills not yet having been debated.

On Sunday, deputy Opposition leader and

he was surprised at claims that parliament was.to
be dissolved yesterday, as he felt the Prime Min=
ister — whose prerogative it is to decide the
date upon which dissolution occurs — would
not wish to allow so many Bills SEL out:
standing to "fall away.’

Mr Symonette said Mr Christie would bea in

"political trouble" if he failed to allow certain
pieces of legislation, such as the Pensions Act, to
be passed into law.

Meanwhile, unregistered voters have been
encouraged to register as soon as possible. ‘All
voters registered up to a day before the House
is dissolved will be eligible to vote. ===!

Voter registration has now passed the 145, 000

lot at companies when an employee’s contractual
discussions have come to a standstill or at tertiary
educational facilities when it is the end of the semes-

ter,” he said.

Don Moss, a national bomb expert and director of
security at Atlantis, was said to be the individual
who examined and disposed of the suspicious device.

‘Police investigations into the matter are continu-

ing.

FROM page one

former playmate’s relationship
with Howard K Sfern.
Both affidavits were signed
and sworn on March 30, 2007.
During their tenure at Hori-
zon’s, Ms Alexis and Mrs Alex-
ie report that they worked from

8am to 10pm and from 10pm to’

8am respectively. The two for-
mer employees claim to have
intimate knowledge of the
workings of the home, who vis-
ited, the state of mind of Anna
Nicole and her health, her inter-
action with Mr Stern, and that
of the former minister of Immi-
gration.

However, the pair are in fear
for their safety. Ms Alexis, who
admits to working illegally at
the Horizon’s home for three

months said that she made that .

fact clear to the former minister

FROM page one

1995.

Howard Marshall II. Smith had been fight-
ing the Texas oil tycoon's family over his esti-
mated $500 million fortune since his death in

Dannielynn was born at Doctors Hospital,
Nassau, on September 7 last year, three days
before Anna Nicole’s 20-year-old son Daniel
died there. The paternity case is scheduled to

resume in the Supreme Court this afternoon.

Former nannies

in her signed affidavit. She
claims that the minister assured
her that once her documenta-
tion at the Ministry of Immi-
gration had been processed and
approved and subsequently
expired, he would have the per-
mit transferred into Anna
Nicole Smith’s name. Ms Alex-
is further claims that the work
‘permit was issued by the
Department of Immigration in
January 2007.

Speaking on behalf of her
clients, Ms Thompson said that
she is very concerned that
something might happen to
them as they are also poised to
testify in the upcoming Coro-
ner’s Inquest into the death of
Daniel Smith — Anna Nicole’s
son.

“There is much more of this
story to tell that needs to be
told. Some of the issues that
they raise, not much of it has
been released to the public,”
she said.

Ms Thompson said thaf! hér ’ 3

clients have information that
will shed light on where Anna
Nicole wished to bury her son,
Daniel, and her “reported” rela-
tionship with Howard K Stern.

Also, Ms Thompson said, her
clients have information on the
amount of prescription drugs
that were allegedly in the home,
and Ms Smith’s state of mind
shortly before her death.

A camera interview with the
women will air on Controversy
TV on Cable 12 at 10pm Thurs-
day, April 5.

Privy Council

fy a judgment debt awarded to Takitota, who
was unlawfully imprisoned for eight years.

Justice Thompson found that the failure of
the government to comply with a Court of Appeal
order to pay Atain Takitota $500,000 was "con-
tumacious and without any explanation."

The order is being considered a landmark one
as it is the first time in the history of The Bahamas
that a receiver has been appointed to collect gov-
~ ernment taxes to satisfy a debt owed to a judg-
ment creditor.

The judge empowered Camille Darville-
Gomez to collect income generated by the casinos
at Cable Beach and Paradise Island for the
account of the government up to the value of the
judgment debt; monies of the government held in
any accounts with the Royal Bank of Canada or
any other commercial bank doing business in
The Bahamas; any unpaid dividends owed by
any company in which the government has a
shareholding; and departure taxes due to the gov-
ernment which have been collected by any airline
company or travel agency doing business in The
Bahamas.

Earlier in 2006, the Court of Appeal awarded
Takitota $500,000 "for the loss of eight years and

two months" of his life.

Takitota came to the Bahamas on vacation in
August, 1992, from Osaka, Japan, according to
reports. He reportedly lost between $7,000 and
$8,000 gambling before realising that his luggage
containing his passport and money had been
stolen.

Police arrested him for alleged vagrancy, but

Mr Takitota was never charged.
' “We are saying that in the unique circumstances
of this case it is open to question whether the
ceiling that was placed on the award be removed
and increased,” said Damian Gomez, Takitota’s
attorney.

“Yesterday, Dame Joan Sawyer said the award
granted should have been much more.

“Tf I went by what my emotions told me it
would have been much more, but I try to be
unemotional,” she said.

Dame Joan Sawyer told the attorney for the
Crown: “You wouldn’t dare get up in this court
and object to us granting leave to go to the Privy
Council...because you would really be in trouble
with me.”

The Crown said it had no objections to the

FROM page one

ity of the Coroner’s Court into
question.

Mr Stern’s egal counsel

informed Chief Magistrate
Roger Gomez — who is presid-
ing over the inquest — that a
constitutional motion had been
filed with the Supreme Court
which questions the lack of pro-
visions in the Coroner’s Act to
provide for an impartial jury.
, However, the leading jurist
said yesterday that there is no
flaw in the Coroner’s Act, that
the flaw is in fact with “those
manning the legal system.”

“What should have happened
was to hold the inquest very
quickly, then you don’t have a
contaminated jury pool. If any-
thing gets out later you can’t
blame the press because it’s
their job to get the news out,
that’s why you must deal with
things quickly and speedily — so
the weakness is not in the Act.

“When you have this kind of
work to do, do it speedily and

?

f

application.

Jurist claims

correctly then you wouldn’t
have all these errors occurring,
it would have been over long
ago,” the jurist said.

During last week’s inquest
proceedings Magistrate Gomez
emphasised that the case of
Daniel’s death has received
immense world-wide media
coverage and cautioned the all-
female jury not to heed any
news reports, rumours, or gossip
they may hear about the case.

However, Mr Stern’s lawyers
are asking the Supreme Court
to revise the provisions of the
Coroner’s Act in such a way
which would allow for lawyers
to question potential jurors to
determine their impartiality.

The concerned jurist speaking
with The Tribune yesterday,
however, pointed out that the
“Supreme Court can only say
‘yes’ he (Chief Magistrate
Gomez) has the right (to ques-
tion jurors) or ‘no’ he does not

have the right.”

“The Supreme Court can’t
cure that, that can only be cured
by an act of parliament, parlia-
ment has to amend it (the Coro-
ner’s Act). Logistically, if par-
liament is going to amend a law
it does not affect the whole run-
ning of the Coroner’s Court, but
it does affect that particular
case, that case can’t move until
parliament has done that,” the
jurist said.

The jurist said that there is
no chance for such an amend-
ment to happen in the near
future as parliament is expected
to be dissolved any day now in
time for the general election.

“I think it will take a mini-
mum of a year. Maybe a new
government, whoever the gov-
ernment is, that can be a first
on their agenda, if that is urgent,
it may not be urgent,” the jurist
said.

The Supreme Court is expect-
ed to make some sort of ruling
on the application by Mr Stern’s
lawyers by Wednesday.

seer

candidate for St Anne's, Brent Symonette, said

FROM page one

Murphy’s probable suicide
raises questions surrounding
the length of time inmates are
left on remand without being
convicted of a crime. Accord-
ing to the prison’s time frame,
Murphy would have been on
remand for murder for nearly
two years since the end of his
sentence for causing a wound.

Human rights activist and
lawyer, Fred Smith, in com-
menting on the events, again,
raised questions about the
deplorable conditions in the
prison.

“We continue to decry, and

mark, the parliamentary registry department
confirmed recently. WA

Inmate found dead’

cry shame on the government,
for the appalling, inhuman and
degrading conditions at Fox
Hill Prison. This continued
abuse reflects a political men-
tality of not dealing with issues
of quality of life or substance
in the Bahamas,” he said.

Mr Smith further criticised
government’s management of
the prison system, suggesting
that the sub-human standard
of conditions in the prison per-
petuate the crime problems in
the country.

“We are creating rapist, and

robbers, and kidnappers and
murderers by the way we treat
those who are in the custody of
the state,” he said.

Mr Smith suggested that ‘the
current problem goes beyotid
politics. Rather, he argued that
the conditions in the prison
have been a blight and disgrace
on the nation for decades. And
he called on government-to
intervene and truly and sub-
stantively address the quality
of life issues in the prison that
lead to so much misery for so
many Bahamians.

THE ASSEMBLIES OF GOD
BIBLE COLLEGE
PH 393-3453

Evening Classes: 7p.m. - 9:45 p.m.
Weekend Classes: Fri 7 p.m. - 9:45 p.m.
and Sat 9 a.m. - 3:45 p.m.

(3 Weekends)

Mon 7:00 p.m.

Tues 7:00 p.m.

7:00 p.m.
Thurs 7:00 p.m.

7:00 p.m.

Epistles I (I & II Cor)

Basic English
Church History Il

Intro to Missions

Bible Origins

WEEKEND CLASS: Marriage Counseling I

Instructors:
U.S. Instructors:

April 20 - 21, May 11 -12, June 8-9

MA & CST Class:

To be announced.

Global University, USA Instructors





PAGE 10, TUESDAY, APRIL 3, 2007



TUESDAY EVENING

APRIL 3, 2007 |

“7:30 | 6:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30














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Enjoy Great Food, Prizes and Lots of Fun



= Movie Gift Certificates



THE TRIBUNE






Let Charlie the.
Bahamian Puppet and
his sidekick Derek put ay

some smiles on your ‘es

kids’s faces.

«




Bring your children to the |

Mctlappy Hour at McDonald's in

Malborough Street every Thursday

from 3:30pm to 4:30pm during the
month of April 2007.



?m lovin’ it



RSENS AL PTE D886 2 |e DELILE wd,

6.4.9.0 eRe S

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make great gifts!



6.8. FOP aa a ASA R28 8 PR Ve Te ee rE B88. 6. O FLT FARE 8 OO OO de DE UTATULE B @ a se" S"O4.8 PF Pe "aTaL&€ @ & FP OWA a's



THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE 1





‘
'
'
,

Your look at what’s going on in your community



FirstCaribbean shows support
for community associations







aw Atlantic Medical


















@ THE Road Runners Track
and Field Club held its annual
track and field invitational
meet recently and
FirstCaribbean International
Bank helped to make this a
reality by assisting in the
funding. Shown from left are:
Carolyn Roberts,
FirstCaribbean and coach
Dexter Bodie, president,
Road Runners Track and
Field Club.

@ THIS year world
scouting celebrates its
100th anniversary
under the theme “One
World One Promise”.
FirstCaribbean
International Bank has
assisted the Scouts
Association of the
Bahamas in sending 12
young people to the
World Scout
Jamboree in England
to join 40,000 plus
young people from
around the world.
Shown at the
presentation are:
Carolyn Roberts,
FirstCaribbean; John
Philpot and Brian
Christie, of the Scouts
Association.

Funwalk: partners: Atlantic Medical thsurance: The
the Bahamas: Diabetic: Association and clients and friends. in a good cause



@ FREEDOM Farm

Baseball League received a =:
donation from FirstCaribbean
International Bank to defray:
the costs of one of its teams — |
FirstCaribbean Binghampton
Mets. Shown at the iS
presentation are: Pat Moss, _
Freedom Farm; Carolyn
Roberts, FirstCaribbean and:
Andrew Thompson, Freedom
Farm.

21

B AS the next season of the . :
Junior Baseball League of —
Nassau fast approaches,
FirstCaribbean International:
Bank has assisted the league
in defraying costs of its
sponsored team the '
FirstCaribbean Twins. From
left in the photo are Carolyn ;
Roberts, FirstCaribbean and
Coach Jerry Stubbs, Junior ; '
Baseball League of Nassau. ~

(Photo: TCL/Wendell
Cleare),

_
at

Atlantic Medical is hosting its ninth Annuaj Fun Walk on Saturday 21st April 2007 at 6.00 am at the Montagu Beach 3

Foreshore. Funds for the Walk will once again be donated to The Cancer Society of The Bahamas and The Bahamas

back to Montagu Beach.

(Male and Female awards)

Diabetic Association. Your efforts in 2006 helped raise $40,000. Thank you.

THE EVENT BEGINS AT 6.00 A.M.

TROPHIES ARE AWARDED ACCORDING TO THE FOLLOWING CATEGORIES:

A.l5 and Under B.16-25 C.26-35 D36-45 E. 46-59 F 60 and Over

THE ROUTE commences from MONTAGU BEACH then WEST on Shirley Street, NORTH on Church Street, OUTWARD across “New Paradise
Island Bridge” to the round-about at Paradise Island Golf Course, BACK to New Providence via the “Old Paradise Bridge”, EAST on East Bay Street and

ee ew a en a a a a a a a a a a a a a a a ew ee ee ee ee eee ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee eee ee eee eee ee ee ee ee ee ee ee ee ee ee ee ee ewe

Official registration TOT sunwatesdantichouse.combs

Atlantic Medical is not liable for injuries incurred by participants at this event.

$15.00 Adults / $12.00 Children: includes “‘T-shirt& gift pack’

Deliver to Atlantic Medical Insurance, Atlantic House 2nd Terrace & Collins Avenue PO BOX SS
5915 Nassau Tel. (242) 326-8191 For additional entries, duplicate form.

COMPANY/ORGANIZATIONS ocssscsssssssssscsssssssssssssssssssessssssssscsssscssssessussssssssssesssssesnessssesanseseese



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5 Jasmine Corporate Center, East Sunrise Highway, Freeport, Bahamas Tel. 351-3960

A member of Colonial Group International Ltd.
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PAGE 12, TUESDAY, APRIL 3, 2007 “THE TRIBUNE



School fields both piano winners








|



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@ NATIONAL Arts Festival Winners — Daniel Jennings of Lyford Cay School (seated) and
Bernard Farquharson of Tamberley School (standing) placed first and second respectively in the...
National Arts Festival Piano Division in New Providence. The two students were adjudicated in .*'
the Solo Piano Category, ages nine to 12. Both winners are pupils of Rosalie Fawkes.



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Discount Coupon to pure



c Ei

@ BANCA del Gottardo will celebrate its 50th year anniversary on April 4, under the theme “50 «'
years — looking forward”. A group celebration will be held at the bank’s head office in Lugano, ~,
Switzerland on June 1 and local management are sending five of its longstanding employees to join
the Swiss event. Banca del Gottardo Nassau Branch and the affiliate Gottardo. Trust Company Ltd’
will also hold an event in Nassau in November. Pictured below, from left to right, are: Christopher
Benson, treasury officer (20 years with the bank), Vernita Sweeting, messenger (31 years), Ruby “«
Kerr, human resources manager (22 years), Fabrizio Tuletta, head of branch, Candace Russell, ~"
administrator (32 years), Patricia Mackey, head of accounting and payments (32 years).



Ragged Island
and Rum Cay



oy]

Connection at Your Fingertips

*E:BlackBerry.





eco” \ talking Por

Long Island





If you see this person TODAY, : __ For more information
please wish LBC a very — | MM \iwwatssanames.com of
| Happy Birthday. :







TUESDAY, APRIL 3, 2007





SECTION

business@tribunemedia.net

fe Cos Be the

BUSINESS

Miami Herald Business, Stocks, Analysis, Wall Street







2a

HELPING YOU CREATE AND MANAGE WEALTH

Tel: (242) 356-7764

_ FREEPORT OFFICE
Tel: (242) 351-3010




NASSAU OFFICE






‘Self-sustaining’ BISX
_ step closer to reality

Government receives Central Bank and Bahamas International Securities Exchange initial recommendations on public sector debt market
* Minister says move will create opportunity for derivative creation, better asset-matching and ‘broaden and deepen’ capital markets

@ By NEIL HARTNELL
Tribune Business Editor

he Government

said yesterday it

had received the

“initial thoughts”

of the Central
Bank of the Bahamas and
Bahamas International Securi-
ties Exchange (BISX) on how
the public sector debt market’s
transer to the exchange could
be structured and implement-
ed, a development that would
allow it to become a “self-sus-
taining operation”.

James Smith, minister of state
for finance, told The Tribune
that the process of creating a
formalised market for govern-

ment paper/debt securities was
‘‘a rather involved process”, and
its transfer to a platform on
BISX “certainly won’t be a big
bang; it'll be done gradually”.
Adding that discussions had
been taking place between the
Central Bank and BISX on the
subject, Mr ‘Smith said:
“They've transmitted their ini-
tial thoughts on how it should

‘be done, and are now waiting

for a response from us. It’s at a
very early stage.”

The minister said it was “hard
to tell” when the government
debt securities market would be
transferred to BISX, explaining
that the Government, exchange
and Central Bank wanted to
avoid creating any ‘shocks to

Coalition calls for
public release of
NHI economic study

@ By NEIL HARTNELL
Tribune Business Editor

THE National Coalition for
Health Care Reform has called
upon the Government to
release the completed econom-
ic impact study on its proposed
National Health Insurance
(NHI) scheme to the Bahamian
people, arguing that this should
have been completed before
Parliament passed the enabling
_ legislation that will allow the

plan to be introduced.

Winston Rolle, a former
Chamber of Commerce presi-
dent and Coalition representa-
tive, told The Tribune that it
was important the study by US-
based consultants, DAH Con-
sulting, be published so that
there was no release of partial
information by the Government
to bolster its case for the NHI
scheme.

This had happened with the
International Labour Organi-
sation (ILO) report on the NHI
scheme, where a study of the
' document showed that the Gov-
ernment had ‘cherry-picked’ the
bits of information that best
backed its arguments, ignoring

the concerns raised elsewhere
by the ILO.

Members of the Coalition,
including representatives of the
Bahamas Hotel Association,
Bahamas Hotel Employers
Association, Bahamas Employ-
ers Confederation, Chamber of
Commerce, Bahamas Motor
Dealers Association and Nas-
sau Institute, last week attended
a meeting with DAH Consult-
ing on its proposed economic
study.

“From our perspective, this
should have been completed
before we got to this stage, but
we were meeting with them last
week,” Mr Rolle said.

Although he was not at the
meeting, Mr Rolle said that
apart from the economic study
consultations, there had been
no further communication
between the Government and
the Coalition on NHI.

“The economic impact study
is significant because we have
to have some fact-based infor-
mation on how NHI’s going to
impact the economy; how it’s

SEE page 7B

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the system’ that might disrupt
the market.

Mr Smith also pointed out
that much remained to be done
before BISX and its central
securities depository (CFD)
provided straight-through pro-
cessing for public debt securi-
ties such as government-regis-
tered stock (BGRS) and Trea-
sury Bills, handling the process
from the initial public offering
(IPO) through to buying, sell-
ing, clearing and settlement of
trades.

BISX needed to implement
the technology platform needed
to make it happen, the minis-



government debt issues - had
to assess its own practices and
develop guidelines on how the
new market would work.

In addition, the Central Bank
needed to determine whether
legislative changes needed to
happen to enable the market’s
transfer to BISX, or whether
this could be taken care of via
policy changes. If legislative
changes were required, these
first had to be decided by the
Government, drafted by the
Attorney General’s Office,
approved by the Cabinet and
then passed by Parliament
before anything happened.

ter said, while the Central Bank B JAMES SMITH Separating “the technical
- which currently acts as the reg- details from the legislative
istrar and transfer agent for all (FILE photo) details”, and with a general elec-

tion imminent, Mr Smith said:
“T really can’t see anything con-
crete happening till maybe the
third quarter. ee

“It could be an involved
process. I think there’s also a
need to kind of analyse the
effect on the holders of govern-
ment paper now, and how this
would affect them in the
future.”

The major holders of govern-
ment-registered stock (BGRS)
are the National Insurance

‘Board (NIB), Bahamian com-
’ mercial banks, pensions funds,

brokerage houses, businesses

_and individuals.

_ SEE page 5B

Government is urged to privatise farm land —

@ By NEIL HARTNELL
Tribune Business Editor

“THE Government has been encouraged
to privatise its holdings of farm land, a
report finding that land ownership is “the
single greatest impediment” to the devel-
opment of a Bahamian agriculture industry
that could supply both this nation’s popu-
lation and its main industries such as
tourism.

The Inter-American Defence College’s

2007 country report on the Bahamas report- ~

ed that only 8 per cent of the available
arable/farming land in the Bahamas was
under cultivation, despite the Ministry of

. Agriculture and Fisheries placing some

36,148 acres up for lease.
The report said that for the Bahamian



ol

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Bahamas in danger of being ‘held hostage to the petroleum market’

economy to keep growing, and the Gov-
ernment to successfully diversify it and
reduce its reliance on the US, four things
needed to be accomplished.

“The first would be to privatise its [the
Government’s] arable land holdings,” the
study said. “All of the efforts to date by
the Government to encourage greater agri-
cultural growth for both export and internal
consumption have made only modest
improvements. —

“The single greatest impediment to such |

growth is the inability for agricultural entre-

preneurs to own the actual land. Such pri- .

vatisation would greatly encourage the
growth cf agriculture.

for



“As the tourism and financial sectors
have boomed, agriculture and fisheries has
fallen to 2.8 per cent of GDP.”

The study added that 90 per cent of prime
agricultural land in the Bahamas was owned
by the Government, and that under the
Ministry of Agriculture Act 1993 this could
be leased to farmers for. up to 42 years.

Farming and fisheries employed 4 per
cent of the Bahamian workforce, and
accounted for 30.2 per cent - almost one
third - of this nation’s $523 million worth of
merchandise exports per annum. The most

SEE page 8B ‘




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PAGE 28, IUESDAY, APRIL 3, 2007 TETIBUNE
Doing more than the ‘minimum’ on equality.

»
a

-

e674
"oe at *

ast week, I was party
to a conversation
etween several busi-

nesspersons that centred on the
fact that it was extremely diffi-
cult to find suitable candidates
to fill entry-level positions in
the workforce. What was even
more telling was that while
there was no shortage of appli-
cants for a given job vacancy,
the common complaints were: a
profound lack of skills, bad atti-

tudes and a detachment
between skills possessed and
salary expectations.

As the conversation pro-
gressed, the consensus was that
many young Bahamians who
are in the workforce may be
earning less than the official
minimum wage. A reason why a
person would take an entry-lev-
el job below minimum wage
may be to get some money
coming in, while looking to find

something more attractive or
better paying later on. Perhaps
this explains, in part, why pro-
ductivity may be so low, as peo-
ple are looking for a ‘salary’
rather than a ‘job’.

Minimum Wages

This consensus piqued my
curiosity, as the Bahamas
passed the Minimum Wages
Act in 2001. It came into force








THE BAHAMAS
LAND USE, POLICY AND ADMINISTRATION PROJECT



CONSULTING SERVICES - GIS
LOAN # 1589/OC-BH















The Government of The Bahamas, through The Office of The Prime Minister (OPM),
has received a loan from the Inter-American Development Bank for the implementation
of a Land Use Policy and Administration Project (LUPAP).

OPM requires one (1) GIS Technician for services in the area of Geographic Information
Systems (GIS):

The GIS Technician will be responsible for collecting geographic data using
Global Positioning Systems, performing spatial analysis using ArcGIS, digitizing and
scanning maps, developing databases and producing maps in support of the development
of Geographical Profiles (GPs) of three Bahama Islands. The work will be performed
in The Bahamas (Nassau and other locations/islands in the Country).

Individual Consultants interested in providing services on the activity listed above should
respond to this Notice by sending a letter of interest and a Resume-prior to 4" April 2007
by email to the address below:

VANBERT PRATT

Administrative Assistant
Land Use, Policy and Administration Project
Office of The Prime Minister
Cecil Wallace Whitfield Building
P.O.Box CB-10980
Nassau, Bahamas
Tel; (242)327-5826
Fax: (242)-327-5806
vanbertpratt@bahamas.gov.bs











Ms. Karen Isaacs Ms. Shantell Butler-Lockhart,

: are ho longer employed at British American
Financial and are not authorized to conduct any
business on behalf of the Company

For further information please
cali our Rosetta Street office
| at 322-1801-2

British
Lk American

in & MEO AL

242-461-1000 | www.babfinancial.com

Freeport 242-382-7209 Exema 242-536-3635 Abaco 242-387-5661



on January 21, 2002. According
to the Act:

The minimum wage shall be
fixed as follows:

1. If the employee is employed
by the week, the minimum wage
shall be $150 per week.

2. If the employee is employed
by the day, the minimum wage
shall be $30 per day.

Financial

Focus



times) to include all workers.
Today, the International
Labour Organisation (ILO)
reports that 90 per cet of the
countries worldwide have min-

the economy many jobs, as the
higher costs discourage invest-
ment.

* Abolishing the minimum
wage allows businesses to
become more efficient and low-
er prices.

e
&

af

* Minimum wages can drive

some small companies out of

business.
* Minimum wages give com-

petitive advantages to ‘low .:

wage’ countries, thus sending

3. If the employee is employed imum wage legislation in place. jobs abroad. anit
by the hour, the minimum wage | The minimum wage in countries i
shall be $4 per hour: that rank on the lowest ‘20 per Conclusion “F

Therefore, according to the
Act, all full-time employees
working 37.5 hours per week
should be making at least $160
per week, before deductions.
The Act also set penalties for
those employers paying less
than the statutory minimum
wage of a fine of $5,000 plus the
difference due to the employ-
ee, upon conviction.

It is interesting to note that as °

of July 1, 2000, the Government
took a policy decision to peg
the minimum wage for govern-
ment workers at $4.45 per hour
or some 11.25 per cent higher
than that dictated by law. This,
in part, is probably one of the
reasons why unskilled workers
seem to covet government jobs.

When you couple this with
the fact that a government job is
virtually a guaranteed job for
life (irrespective of performance
and. in many cases, regular
attendance), and that ‘salary
deduction’ credit is widely avail-
able (without any sort of pre-
qualification whatsoever) for
every conceivable consumer
item, it is not difficult to under-
stand the attractiveness of gov-
ernment jobs. Who gives gov-
ernment jobs? ‘This is the per-
ceived role of the Member of
Parliament, hence their lofty
status among certain segments
ot the population.

History of the
Minimum Wage

In 1896. Australia and New
Zealand enacted legislation in-
tially establishing a minimum
wage for certain industries. Just
after the turn of the century, it
was expanded (at different

cent of the pay scale is less than
$2 per day, while the minimum
wage in countries that repre-
sent the highest 20 per cent of
pay scales is about $40 per day.

According to the Economic
Policy Institute: “Most indus-
trialised countries have laws set-
ting a minimum wage, but these
vary greatly by (amount), who is
covered and how strictly the law
is enforced. In some countries,
the minimum wage is not uni-
versal for the whole country,
but varies according to the
industrial sector or the work-
er’s age and gender.”

The arguments for and
against minimum wages vary
greatly, and are the subject of
millions of pages of vigorous
and scholarly debate. In an
attempt to confine this column
to a reasonable length, I will
summarise some of the more
common points often advanced.

Arguments for a
minimum wage

* It helps in reducing poverty
and reducing pay differentials
between genders.

* It prevents employers from -

exploiting new workers and
migrants.

* Adults who currently work
for a minimum wage would be
displaced by teenagers and
migrants who would work for
much less.

* Workers need a minimum
amount of income to have an
acceptable standard of living.

Argument against
a minimum wage

* Many economists believe
that minimum wage laws cost

While a great debate rages --
globally about the imposition ’
of minimum wages, and”:
whether or not they are good
for an economy, I do believe
that a society should have sen-
sible and affordable ‘safety-nets’
for the less fortunate. If a soci- + °-
ety does not provide such safe-
ty-nets, then we will invariably
pay the price in other ways.

The reality is that no society *
has yet been successful in truly
creating equal opportunities ina .
universal sense. Our challenge, *
therefore, is to continuously
strive to improve the country’s
educational and training infra-
structure, and through sound ,
economic policies provide » +.
opportunities for sustainable job *- ’
creation. Then, finally, we must
work to raise national produc- — »'
tivity levels, which allow”.
investors to earn a fair return » -
on their investment, thus
encouraging them to make fur-
ther investment. - ts

Until next week... ny,

« &

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

The views expressed are those»...
of the author and do not neces-
sarily represent those of Colo- .
nial Group International or _:
any of its subsidiary and/or
affiliated companies. Please -
direct any questions or com- :
ments to rlgibson@atlantic-..-
house.com.bs ia

a i

&

—

Betty K Agencies

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To Abaco Bahamas

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BUSINESS

Che Miami Herald

‘THE MARKETS
STOCKS, MUTUAL FUNDS, 8B

‘DOW30 —-12,382.30 +27.95 AN
sapso0 = «(24.55 43.69 AM
NASDAQ 2,422.26» +0.62 Ab
10-YR NOTE 464. -01W
CRUDEOIL $65.94 —-+.07 AR

Takeover
deals help
“stocks —

post gain

_ BY JOE BEL BRUNO
é Associated Press
NEW YORK — Wall Street
managed a moderate advance
Monday as a spate of takeover
eals gave investors enough
confidence to buy into the mar-
- ket despite a report showing —
- that U.S. manufacturing is more
sluggish than expected. _
_ Investors drew support from
acquisitions announced
sfore trading began, including ©
deals to take credit card trans-
rocessor First Data and















But gains were limited by the
nstitute for Supply Manage-
t’s manufacturing index, —

projected in March. The ©
moved to a reading of 50.9 |
\onth, compared to an
xpected reading of SLO.

Also, putting pressure on
echnology stocks, the Semicon-

_ ductor Industry Association -



_ said total chip sales in February _
_ fell to $20.09 billion from $2148 _






n January due to seasonal
weakness, lower manufacturing...
capacity and price cuts.

iC Ee finished the fine quar-






: President William Poole said i
a speech to bankers in New
_ York that inflation is still a —
5 “major concern.” He said infla-
_+ tion levels could require more ©
: rate hikes, and that a U.S. reces-
sion remains conceivable.
The Dow rose 27.95, or 0.23

_ percent, to 12,382.30. The
benchmark index is now 404
points below its record close —

5 feagied Feb. 20. ‘ 5
_ Broader stock indicators also
rose slightly. The Standard &
- Poor’s 500 index rose 3.69, or
0.26 percent, to 1,424.55, and the
Nasdag composite index edged
‘up 0.62, or 0.03 percent, to
2,422.26.

' Bonds moved lower after the

ISM report showed slower
growth amid accelerating price

_ pressures. The yield on the
benchmark. 10-year Treasury
note rose to 4.64 percent from
4.63 percent at Friday’s close.

- The dollar was mixed against
other major currencies, while
gold prices rose.

_ Oil prices advanced slightly
as investors speculated about

_ how tensions between Iran and

_. Britain could interrupt supply

~ from the Middle East. A barrel
of light sweet crude rose 7 cents

__ to, $65.94 on the New York Mer-

os cantile Exchange.
~ Arthur Hogan, chief market

analyst at Jefferies & Co., said

__ oil has been one concern weigh-

- ing on markets. He believes the

' market continues to look for

--some kind of economic direc-

: oe while also reacting to cor-

news.

__. “That’s the battle we're going -

to have — are we starting the

_ quarter with good company

- hews or will we continue to be

- concerned about an economic

_ slowdown?” he said. “That’s the

nt.”

The Russell 2000 index of

smaller companies gained 2.51,
_ or 0.31 percent, at 803.22.

Overseas, Japan’s Nikkei
stock average closed down 1.50
percent. Britain’s FTSE 100 rose
0.12 percent, Germany’s DAX
index rose 0.29 percent, and
France’s CAC-40 rose 0.20 per-
cent.



at

METS ‘



proenctae Tribune ZS

slipped more than econo- ~

‘Wall Street has traded ae |



ver - — with the Dow Jones _









BY ASHLEY M. HEHER .
Associated Press

CHICAGO — Real estate
mogul Sam Zell won the battle of
the billionaires Monday, landing
media conglomerate Tribune Co.
after a down-to-the-wire bidding
war.

Even with the buyout’s $8.2 bil-
lion price tag, the outlook for the
nation’s second-largest newspaper
publisher remained as uncertain as
it did six months ago when it
began a strategic review to boost a
lagging stock price.

A big chunk of new debt also
will be required to pay the $34 a



THE TRIBUNE CO. ACCEPTS AN $8.2B BUYOUT
OFFER FROM REAL ESTATE MOGUL SAM ZELL,
WHO PLANS TO SELL THE CHICAGO CUBS

likely, especially as Zell learns the



success remains to be seen,” said
Rich Hanley, a journalism profes-
sor at Connecticut’s Quinnipiac
University. “This is unlike any
other business he’s touched. ...
The stakes are very high.”

Tribune Chief Executive Dennis
FitzSimons told The Associated
Press that there are’no plans to cut
the company’s work force or sell
off other newspapers or TV sta-
tions.

“This is a good outcome for our
shareholders and a good outcome
for our employees,” FitzSimons
said in the interview.

But industry observers said
more divestitures or spinoffs are

ropes of the newspaper business

PHOTOS BY E. JASON WAMBSGANS/CHICAGO TRIBUNE

COMPANY SOLD: For months workers for the Tribune company - some are seen above in the
Chicago Tribune’s newsroom - worried about their future. Monday, real estate investor Sam Zell
agreed to buy out the company. The Chicago Tribune is housed in the Tribune Tower, below.

SOLD

FOR $8.2B

So RAR EN AS SOR EO





i
H

share cash buyout.

Zell is counting on repaying the
debt largely through tax benefits
from a new employee stock option
plan that would supplement exist-
ing retirement accounts for the
company’s 20,000 workers.

Aside from selling the Chicago
Cubs baseball team and its stake in
Comcast SportsNet, Zell and Tri-
bune executives were mum about
prospects for the rest of the com-
pany’s assets, including 23 televi-
sion stations and nine newspapers
ranging in size from the Los Ange-
les Times and the Chicago Tribune
to the Daily Press in Newport
News, Va., that will remain after
two papers in Connecticut are
sold.

“Whether someone hore
experience is in commercial real
estate — in steel and cement and

and a company that has been los-
ing readers and advertisers to the
Internet.

Zell plans to invest $315 million
in the media company and will
eventually become chairman of
Tribune’s board when the buyout
is complete sometime in the fourth
quarter. The offer needs share-
holder approval.

Tribune said Zell will use an
employee stock ownership plan to
finance part of the deal and lower
the taxes on any sale. The ESOP,
which resembles a profit-sharing
plan, will become the majority
owner of Tribune once the deal is
complete. Zell will be entitled to
buy 40 percent of the company’s
common stock.

“J am delighted to be associated
with Tribune Company, which I
believe is a world-class publishing
and broadcasting enterprise,” Zell

term investor, I look forward to
partnering with the management
and employees as we build on the
great heritage of Tribune Com-
pany.”

Analysts have estimated that
the Cubs could fetch $600 million
or more. Tribune bought the team
in 1981 for $20.5 million.

Its strength as a sports franchise
— and the lure of potentially
steering them to their first champi-
onship in a century — has
attracted the interest of many
potential buyers.

Billionaire entrepreneur Mark

Cuban, actor Bill Murray and col-

‘umnist George Will are among
those rumored to have interest, ’

along with numerous Chicago
business figures. .

Tribune shares climbed
70 cents, or 2.2 percent, to close at
$32.81 in trading on the New York

snilieeeeieeainaiameme nomial
«aie Leet ae Sell

bricks and leases — can navigate
the e ppeay, media structure for



LENDING

said in a statement. “As a long-

Stock Exchange.



INTERNATIONAL EDITION

ASIA

S. Korea,
U.S. reach
‘historic’
trade pact

i Following days of talks, the
United States and South Korea
reached a free trade agreement
both sides hope will bolster
bilateral ties and help forthcoming
global trade talks.

BY KELLY OLSEN
Associated Press

SEOUL, South Korea — The United
States reached its biggest free trade
agreement since NAFTA on Monday,
clinching a last-minute deal with close
security ally South Korea that it hopes
will bolster bilateral ties and provide
added spark to the Doha Round of
global trade talks.

“The free trade agreement we are
announcing today is a historic accom-_
plishment,” Deputy U.S. Trade Repre- -
sentative Karan Bhatia told reporters
after eight grueling days of talks. “It is
an agreement for the 21st century.”

The deal, which requires approval in
both countries, is the biggest for Wash-
ington since the North American Free
Trade Agreement signed in 1993, and is
expected to lead to more than 90 per-
cent of U.S. exports to South Korea
being duty free within three years.

In Washington, two key senators
warned though that the agreement will
not win congressional approval unless
South Korea drops a ban on the import
of U.S. beef that it imposed in December
2003 after the first reported U.S. case of
mad cow disease. Negotiators were

unable to resolve the issue as part of the. _ ia

free trade talks.

While many business groups from
high-tech to music voiced support for
the deal, auto executives at Ford and
Daimler Chrysler’s U.S. unit Chrysler
said they would urge rejection because
negotiators failed to do enough to lift
Korea’s high barriers to U.S.-made cars.

It is the biggest trade deal ever for
South Korea, which in 50 years has
grown from one of the world’s poorest .
countries to its 10th-largest economy.

“We cannot become an advanced
country without challenging ourselves,”
President Roh Moo-hyun said, address-
ing the concerns of many who felt South
Korea cannot compete against an econ-
omy 15 times bigger.

President Bush, who phoned Roh last
week to reconfirm their commitment to
help push through a deal as negotiators
were stuck on contentious issues such
as auto trade, said the deal went beyond
economics.

“The agreement will also further
enhance the strong United States-Korea
partnership, which has served as a force
for stability and prosperity in Asia,”
Bush said of Washington’s first free
trade deal in Northeast Asia, which also
includes powerhouse economies Japan
and China.

South Korea and the U.S. agreed to
eliminate and lower tariffs and other
trade barriers in a wide range of indus-
trial goods and services, including auto-
mobiles, agricultural products and
financial services.

Mai or ae ees lender files for bankruptcy

@ New Century Financial, once a
major provider of mortgages to
high-risk borrowers, filed for

bankruptcy protection Monday.

BY GARY GENTILE
Associated Press

LOS ANGELES — Subprime
lender New Century Financial Corp.,
once the nation’s second-largest pro-
vider of mortgages to high-risk bor-
rowers, filed Monday for bankruptcy
protection and immediately fired
3,200 workers, or 54 percent of its
workforce.

The company said it intends to sell
off its major assets.

“The Chapter ll process provides
the best means for selling our servic-
ing and loan origination operations to
financially sound parties,” President
and Chief Executive Brad A. Morrice
said in a statement.

“It is our hope that potential buy-
ers will be in a stronger position than
we are to employ many of our associ-
ates on an ongoing basis,” he said.

New Century made the move after
exploring a variety of possible ways

toni



wine.



LENNY IGNELZI/AP
THOUSANDS FIRED: New Century,
headquartered in Irvine, Calif.,
fired 3,200 workers after filing
for bankruptcy protection.

to stay in business, he said.

New Century is the latest sub-
prime lender to fall on hard times
amid a spike in mortgage defaults



caused by borrowers unable to make
payments.

Subprime loans target borrowers
with low credit scores. The mort-
gages carry relatively high interest
rates but can also offer low initial
payments.

More than two dozen subprime
lenders have shut down in recent
months and others are scrambling to
stay in business.

New Century said it had agreed to
sell its loan servicing business to Car-
rington Capital Management and its
affiliate for $139 million, subject to
the approval of the bankruptcy court.

CIT Group and Greenwich Capital
Financial Products have agreed to
provide up to $150 million in working
capital to facilitate the reorganization
process, the company said.

New Century has also agreed to
sell certain loans and residual inter-
est in some trusts to Greenwich Capi-
tal for $50 million.

New Century, based in Irvine,
Calif., filed for Chapter ll protection
in U.S. Bankruptcy Court for the Dis-
trict of Delaware. The move had been

expected for several weeks.

“This was a very hard step for me
personally and clearly not the out-
come I would have preferred,” Mor-
rice said.

Like other subprime lenders, New
Century profited during the real
estate boom, when appreciation rates
soared and equity protected most
homebuyers from defaulting on their
loans.

Most could simply refinance or
sell homes at a big enough profit to
pay off mortgages and move on.

Investment banks also jumped in,
eager to buy loans from subprime
lenders, then slice them up into bond
products to sell on Wall Street.

That helped New Century stock
hit its historic high of $65.95 in
December 2004. Its loan production
for 2005 hit a record $56.1 billion.

On Feb. 7, however, New Century
informed the Securities and
Exchange Commission that it would
have to restate results for the first
three quarters of 2006. The company
said it had failed to accurately tally
losses from loan repurchases.

ES aa 0s



THE MIAMI HERALD | MiamiHerald.com __



e ITALY

_BUSINESS BRIEFS |





Pirelli, Telecom Italia
shares up on AT&T talks

From Herald Wire Services

Italian officials defended their desire to keep Telecom |
Italia (TIAJF) in Italian hands Monday after the controlling
shareholder announced it was in talks to sell a majority stake
to U.S. telecom giant AT&T (T) and its Mexican affiliate.

Tire-to-telecom group Pirelli said it is in exclusive talks
with AT&T and its Mexican affiliate América Movil (AMX)
to sell two-thirds of the holding company, which controls
Telecom Italia. The proposal expires April 30.

The proposed deal could prompt the Italian government to
intervene following a public spat last year that led to the res-
ignation of former Telecom Chairman Marco Tronchetti

' Provera. Provera is also Pirelli’s chairman.

e CRUISE INDUSTRY

ROYAL CARIBBEAN
ORDERS LARGE SHIP

Royal Caribbean
Cruises (RCL) said it
ordered a second 220,000-
gross ton ship at the cost of
about $1.4 billion, which
_ would give the company the
world’s two largest cruise
ships by 2010.

The ship, part of the
Royal Caribbean Interna-
tional brand’s “Project Gen-

esis,” will hold 5,400 passen-:

gers, the Miami-based
company said.

The ship will be built at
Aker Yards in Finland and
will become the 24th vessel
in the Royal Caribbean
International fleet when
delivered by the projected
date of August 2010.

e MILITARY DONATION

TO HONOR WOUNDED
SON, IBM OFFERS $45M

To honor an employee’s
son who was badly
wounded in Iraq, IBM (IBM)
plans to give the U.S. mili-
tary $45 million worth of
Arabic-English translation
technology that the Penta-
gon had been testing for
possible purchase.

The offer — made from
the highest reaches of the
company directly to Presi-
dent Bush — is so unusual
that Defense Department
and IBM lawyers have been

- scouring federal laws to
make sure the government
can accept the donation.

Preparing to raid a house,
Army Sgt. Mark Ecker Jr.’s
unit lined up along a side of
the building. But an explo-
sive device hidden in the
wall went off, it wounded
several soldiers. Ecker lost
both legs below the knee.

e MERGER

AIRTRAN SWEETENS
OFFER FOR MIDWEST

AirTran Holdings
(AAI), a low-fare carrier,
increased its hostile take-
over offer for Midwest Air
Group (MEH) a second
time, sweetening the bid by
. 1B percent to $389 million.
Midwest shares rose the
most since December.

The new cash-and-stock
offer is $15 a share compared
with $13.25, AirTran said.

Midwest shareholders
have until May 16 to tender
shares, AirTran said.

AirTran’s new offer con-
sists of $9 in cash and 0.5842
of an AirTran share for each
share of Midwest (MEH).

LATE TRADING

‘ated Transit Union rejected

--~ said. The union represents

ANTONIO CALANNI/AP
TRADING: Pirelli shares closed up 9.4 percent at $1.20,
while Telecom Italia shares closed up 9.5 percent at
$3.13 on the Milan stock exchange.

e CONTRACT

GREYHOUND DRIVERS
REJECT PROPOSAL

Drivers and other
employees at Greyhound
Lines rejected a company
contract proposal, leaving
two weeks before their cur-
rent contract with the bus
operator runs out, the com-
pany said Monday.

Greyhound had called the
proposal its final offer. But
Local 1700 of the Amalgam-

the offer by more than a
3-to-1 margin, union officials

3,300 Greyhound workers,
including 3,000 drivers and
about half the company’s
mechanics.

Union leaders had unani-
mously recommended a
“no” vote. The union said
77.4 percent of voters
opposed the contract, which
called for a 2 percent
increase in wages.



e DAIMLERCHRYSLER i

AUTOMAKER TO PAY
$1.2M TO SETTLE SUIT

DaimlerChrysler (DCX) |
has agreed to paya$L2mil- |
lion fine to settle allegations
that it did not promptly alert
the government about emis-
sions problems in some
Mercedes automobiles.

As part of an agreement
with the Justice Department
filed in federal court Sun-
day, the automaker agreed
to institute a new program
to monitor its cars for emis-
sion defects and said it
would file regular reports to
the government.

The lawsuit involved
emission-related defects in
certain 1998-2006 Mercedes
vehicles. The Justice
Department said Mercedes
didn’t tell the EPA within 15
days of learning about a
series of problems with air-
flow sensors, catalytic con-
verters, air pumps and other
parts.

e JAPAN

MANUFACTURERS’
CONFIDENCE SLIPS

Confidence among Japa-
nese manufacturers slipped
in March for the first time in
a year, according to a close-
ly-watched Bank of Japan
survey released Monday.

But on a positive note,
the quarterly “tankan” sur-
vey, which polls more than
10,000 companies, showed |
that large businesses plan to
boost investment in the year
ahead.





VerizonCm

4 6:35 p.m.

CapOne ‘OF 73.57 73.57 . 204442
AT&Tinc §=T 39.46 39.46 120359
Microsoft MSFT . 27.74 27.74 45013
SunMicro SUNW 5.80 5.80 36675
iShR2Knya IWM 79.75 79.75 34753
Citiorp c 51.05 51.05 26312

BMY 27.88 27.88 24176
Genbieg GE 35.29 35.29 23600
ExxonMbl =X0M 76.16 76.16 21985
Nasdi00Tr QQQQ 43.59 43.59 20730

WZ

SYMC

SPY

Late
volume Stock Tk.

tee “Cine” cig. roe

FirstDatas FDC 32.45 32.45 18749
KBRIncn KBR 20.69 20.67 0 18023
BredeCm BRCD 9.71 9.71 z 17407
Hallibtns = HAL 32.27 3245 +18 16941
iShEAFE = EFA 76.50 76.50 15417

CVS Care
Continucre
Intel
DirecTV
MarshM

CYS
CNU
INTC
DIV
MMC

3329
12423
116
11018
10910
10886
10617

3.20 +10
19.12 -.01

Motorola
Genworth

MOT

GNW 3479 34.79

For up-to-date stock quotes, go to www.MiamiHerald.com and click on Business



ECONOMY

INTERNATIONAL EDITION

TUESDAY, APRIL 3, 2007 | 4B,
|

U.S. manufacturing expands

BY CANDICE CHO!
Associated Press

NEW YORK — In yet
another sign that U.S. eco-
nomic growth may be slowing,
manufacturing companies
reported Monday that busi-
ness expanded at a lower-
than-expected pace in March
even as prices surged for raw
materials.

The Institute for Supply
Management, a trade group of
corporate purchasing execu-
tives, said its manufacturing
index registered 50.9 in March,
below the February reading of
52.3 and Wall Street’s expecta-
tion of 51.

A reading above 50 indi-
cates growth for the sector,

MUSIC



while a reading below 50 indi-
cates contraction.

Despite the sluggish
growth, prices appeared to be
surging for certain commodi-
ties, including aluminum,
cobalt, copper, corn, corru-
gated containers, diesel fuel,
natural gas and steel, as
demand increased around the
world. The ISM’s price index
shot up to 65.5 in March from
59 in February, causing unease
among analysts and investors.

“There’s very little growth,
but prices are rising. It’s not a
healthy mix,” said Nigel Gault,
an analyst with Global Insight
in Lexington, Mass. Rebounds
in oil prices over the past few
months are also adding to

pricing pressures, he said.

Employment and manutac-
turers’ inventory levels also
declined.

The ISM’s manufacturing
sector index, compiled from a
survey of the group’s mem-
bers, has wavered above and
below 50 for several months,
an indication of the overall
economy’s uncertain path. It
showed contraction in
November, rebounded in
December, fell back again in
January, only to expand again
in February.

The expansion in March
marked the second consecu-
tive month of growth for the
manufacturing sector, while
the overall economy grew for



the 65th consecutive month.

While indicating a less opti-
mistic outlook than expected,
the report shouldn’t have a big
impact on the markets, Gault
said.

Stocks were mixed after the
report as investors showed
their ongoing nervousness
about the overall economy’s

Se4

,

health, including inflation lev- ~
els; the fear on Wall Street is ~

that the Federal Reserve will

be less inclined to lower inter- .,

est rates if price increases are
accelerating.

The ISM report revealed .*,

some positive trends: Compa-

ey

Sas

nies had more orders for new |

business and their production
expanded in March.

“ ALASTAIR GRANT/AP

DOWNLOAD TRACKS: From right, Apple CEO Steve Jobs, who was at the launch of DRM free recordings, Damon
Albarn, of the pop group Blur and Eric Nicoli, EMI CEO at EMI headquarters in London.

EML Apple to sell songs online «

minus copyright technology

BY JANE WARDELL
Associated Press

LONDON — The world’s
No. 3 record company will sell
its music online without tech-
nology to prevent unautho-
rized copying and sharing,
splitting from other major
labels that have feared such a
move would return the indus-
try to the days of rampant
piracy.

EMI announced Tuesday it

will begin offering the down- _

loads on Apple’s iTunes music
store next month. The deal,
however, doesn’t affect music
from its most famous act —
The Beatles — though the
company said it was working
on making the Fab Four cata-
log available online. With
restriction-free music, EMI
said it is responding to an
overwhelming demand from
music buyers who want the
ability to download tracks
onto different devices. Besides
The Beatles, the label is home
to the Rolling Stones, Norah
Jones, Coldplay and Kylie
Minogue.

Analysts said the deal with
Apple was a bold move from
London-based EMI that would

FIRST DATA

be closely watched" — and
thesh almost certainly followed
— by the three other music
majors, Sony BMG Music
Entertainment, Universal
Music and Warner Music.

“This is a message to the
industry as a whole about
where the digital market is
going in the future,” said
Ovum senior analyst Carl
Gressum. Representatives of
Sony BMG Music Entertain-
ment and Warner Music
Group declined to comment. A
cali to a spokesman for Uni-
versal Music Group was not
immediately returned.

The iTunes website will be
the first online retail outlet to
sell the new “premium” pack-
age from EMI, which will offer
all the record company’s
online content without restric-
tive anti-piracy software,
known as DRM, and with
enhanced sound quality.

The Apple site will offer
the new premium tracks
alongside the existing “stan-
dard” tracks, charging an extra
30 percent for the singles.
Albums will be offered in both
formats at the same price.

“Consumers tell us over-

whelmingly that they would

be prepared to pay a higher’

price for digital music that
they could use on any player,”
said EMI Chief Executive Eric
Nicoli said. “It is key to
unlocking and energizing the
digital music business.”

Analysts suggest that an
across-the-board lifting of the
software restrictions could
boost sales of online music,
which currently account for
around 10 percent of global
music sales.

They also said the threat of
piracy has been diminished
since the peer-to-peer free-
for-all of nearly a decade ago
that spawned heated intellec-
tual property battles and led to
stiffer punishments for illegal
downloading.

Susan Kevorkian, an analyst
with market researcher IDC,
said EMI is betting it will make
more money selling to a
broader online base of paying
customers than it might lose to
pirates, who have been some-
what checked by the harsher
penalties. “(Piracy) is not dead
but it’s been contained,” she
said. “With the possibility of
distributing unprotected

music files comes the possibil-\' i

"oa

ais

a

ity of piracy. But ‘the music ms

industry has more legal pro-
tections at its disposal today.”
The links between the

download services and players *

affy

’

has drawn criticism from ‘

European regulators, who

argue that it limits buyer -

choice. While iTunes will be °

the first site to offer EMI’s
DRM-free downloads, the
label has not signed an exclu-

‘sive deal with Apple and

Nicoli said the company’s cat-
alog would be made available
the same way on other sites.

“I expected it to be an |

exclusive six or 12-month deal

but they didn’t choose the © * .

security blanket and that’s a
good thing for the industry,”
said James McQuivey, an ana-
lyst at Forrester Research.

Apple Chief Executive
Steve Jobs, who has been lob-
bying for months for record
companies to remove the
DRM software, said he hopes
to offer half the tracks cur-
rently available on iTunes in a
DRM-free format by the end
of the year,
expects other recording com-
panies to follow suit.

Credit card peconnere OK’s $27B buyout

BY CATHERINE TSAI
Associated Press

DENVER — Credit card
transaction processor First
Data said that it is being
acquired by an affiliate of pri-
vate equity firm Kohlberg
Kravis Roberts & Co. for about
$27 billion, which would be
among the richest ever private
takeover offers in the United
States.

The proposed deal comes
amid a flurry of activity by
buyout groups to take public
companies private.

It would rank behind a pro-
posed $32 billion buyout of the
Texas utility TXU Corp. by a
group including KKR and
Texas Pacific Group.

If that deal is completed, it
would be the largest private
takeover in U.S. corporate his-
tory.
KKR has offered $34 a share
for First Data, a premium of
about 26 percent over First
Data’s closing price on Friday.

First Data shares rose $5.55
or 21 percent, to close at $32.45
Monday on the New York
Stock Exchange after briefly
rising to a 52-week high of
$32.90.



Under terms of the agree-
ment, First Data can solicit
third party proposals over the
next 50 days and the company
said it plans to actively do so.

It has about 754 million
common shares outstanding
which would be worth $25.6
billion at the offered price. In
addition, the company said
unvested stock options and
restricted stock awards that
would vest upon a takeover
would add about $14 billion to

ED ANDRIESKI/AP

TAKEOVER: Kohlberg Kravis Roberts & Co. has offered
Dirst Data $27B, making it among the richest ever
takeover offers in the U.S. Above, First Data
headquarters in Greenwood Village, Colo.

what the buyer would pay for
First Data stock, boosting the
deal’s value to about $27 bil-
lion.

The buyer would also
assume about $2 billion in
First Data debt, raising the
value of the transaction to
about $29 billion, the company
said.

In a written statement, KKR
member Scott Nuttall praised
First Data’s management team
and said KKR looked forward

to working with them.

First Data’s board has
approved the transaction, but
it requires shareholder and
regulatory approval as well as

other customary closing con- .

ditions. The deal is not contin-

gent on financing by the inves- ,

tor group, and First Data

indicating he |

expects the deal to be com- . _
pleted by the end of the third .

quarter. .
Citigroup, Credit Suisse,

Deutsche Bank, HSBC, Leb- . :

man Brothers, Goldman Sachs
and Merrill Lynch have com-
mitted to provide debt financ-

ing for the transaction subject -

to customary terms and condi-
tions, and are acting as finan-
cial advisors to KKR.

First Data has become one
of the leading electronic pay-

ment processors since it was -,~

spun off by American Express
and went public in 1992.

With more people shifting .-

from cash and checks to credit
and debit cards, First Data has
potential to grow. In February,

the company said it was clos- -

ing a check and money order
division for financial institu-

tions to focus on its other -

operations.



THE TRIBUNE





Oil import costs

‘

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter



n the past three years, Bahamian oil
[= petroleum product consumption
has steadily increased to total $705.781
million for the 2006- full-year, the latest
Central Bank figures have revealed.
According to the Quarterly Statistical
Digest released by the Central Bank, based
on its statistics and those of the oil compa-
nies, in 2004 the total value of oil imports
for Bahamian consumption was $365.452
million, the majority of this being on gaso-

ine.

In 2005, the total value of Bahamian oil
consumption increased to $524.252 million,
with the gasoline value almost doubling to
$259.090 million. Motor gasoline imports
increased to $133.348 million, propane to
$6.381 million, and lubricants and other oils
also increased to $ 6.374 million. In 2005,
the cost of aviation gasoline increased to
$2.926 million, and Bunker C rose to $2.228
million.

According to the 2006 figures, total
Bahamian oil consumption rose to $705.781
million. The report reveals that only one

hit $706m in ‘06

area saw a decrease in import value, name-
ly aviation gasoline, which decreased by
$1.691 million to $1.235 million.

Gas oil costs rose to $328.552 million,
and motor gasoline to $163.047 million.
Kerosene (jet fuel) saw a huge increase to
$71.169 million. Lubricants and other oils
increased to $9.646 million, propane to
$7.751 million and Bunker C saw a slight
increase to $2.720 million.

According to the report, total oil con-
sumption costs in 2004 wete $251.533 mil-
lion. In 2005, it was $459.629 million and in
2006 it rose to $584.121 million.

‘Self-sustaining’ BISX step closer to reality

FROM page 1B

“For BISX, if all the gover-
ment paper gets on it, it will
have sufficient critical mass to
be a self-sustaining operation,
based on the income from that
one area,” Mr Smith said.

The market’s listing and trad-
ing on BISX would make the
entire Bahamian capital mar-
kets “deeper and more dynam-
ic”, Mr Smith said, transforming
the long-term government
paper sector from its current
status, where most securities
were held to maturity by their
original purchasers.

The market’s move to BISX
would enable the creation of a
secondary market where goy-
ernment paper was traded by
investors and market partici-
pants, Mr Smith pointing out
that prices would be determined
by factors such as an issue’s age
as it neared maturity.

The secondary market would
also benefit Bahamian insur-
ance companies, Mr Smith said,
especially life insurance firms
who.were always looking to
match long-term, assets to lia-
bilities.

The NIB and other govern-
ment agencies hold the lion’s
share of government paper, and
a secondary market would
enable insurance companies and
other businesses to acquire and
sell securities in line with their
asset-matching requirements
and business cycles.

The ownership of govern-
ment paper, Mr Smith
explained, could change hands’
without its value being eroded,
and a secondary market would
also create opportunities for the
creation of derivative instru-
ments in the Bahamian capital
markets, such as repos (repur-
chase agreements).

“It basically increases the
amount of activity, which in
essence deepens and broadens
the capital markets,” Mr Smith
said.

The minister added that insti-
tutions such as the World Bank
and International Monetary
Fund (IMF) had been encour-
aging the Bahamas to use “mar-
ket-based solutions to instru-
ments traded in the capital mar-
kets”.

There are currently some 140
tranches or issues of govern-
ment-registered stock out-
standing, with a total market
value of $1.8 billion. The list-
ing of such public sector debt
securities, never mind Treasury
Bills, will dramatically boost
BISX’s market capitalisation,
giving the exchange critical
massm, plus the investment
options, trading volume and lig-
uidity it has lacked.

In turn, the central securities
depository holds out the
promise of reducing transaction
costs and improving efficiency
in the government debt mar-
kets, introducing more trans-
parency and better price dis-
covery through BISX’s elec-
tronic platform.

Keith Davies, BISX’s chief
executive, yesterday told The
Tribune he was “very encour-
aged” by the fact that his and

the Central Bank’s submissions _

had reached the minister.

He added: “The bell has been
rung on our side to get on with
our work and let the Govern-
ment do what it needs to do.

“We will be working on the
ground to do all that is neces-
sary to ensure the system can
do what is required to provide
for the issuance and secondary
market trading, plus the main-
tenance of accounts in the
GED

Acknowledging that legisla-
tion such as the Registered
Stock Act might have to be
amended, Mr Davies said it was

’

likely that the government debt
market might operate for a time
on two parallel systems - the
current one and the BISX plat-
form - to ensure the transition,
when it happened, would be a
smooth one.

He added that BISX would
ensure the technology platform
would be “world class”, and
have the capacity and level “to
handle the work now and for
many years to come”.

The CFD that BISX has been
testing for the public sector debt
securities market can handle
400,000 transactions per hour
and 70,000 accounts, far more
than the Bahamian market is
likely to need.

Currently, the Central Bank

cts as the primary dealer for

government issues, marketing
and distributing them on its
behalf to other institutions and
market participants.

Mr Davies said than when the
process is transferred to BISX,
the Central Bank would “step
aside” from that role and allow
other market participants, such
as broker/dealers, to act as the
first purchasers from the Gov-
ernment.

This, in turn, would create
competition in the market that
was likely to reduce the interest
rates attached to debt issues,
and Mr Davies said BISX’s sys-
tem would provide for “fair and
equitable distribution”, ensur-
ing that no market participants
were shut out.

The central securities depos-



@ BISX CEO KEITH DAVIES

itory will “dematerialise” the
government securities, market,
removing the need for investors
to hold paper certificates.

Currently, if investors wish text:

sell their government-registered
stock, their paper certificate has
to be handed into the Registry,
immobilised, surrendered and
then withdrawn from existence.

Under BISX’s electronic plat-
form, investors would no longer
need to hold the physical paper
certificates themselves, as they
would all remain with the cen-

TRUST OFFICER

LEADING TRUST COMPANY is seeking a candidate for

the position of Trust Officer.

The position reports to the Vice President, Client Services
and is responsible for the ongoing administration of trusts and
other fiduciary products and services, including:

¢ Liaising with senior management in the provision of
information/execution of transactions and problem resolution

e Managing all associated risk and escalating as appropriate

¢ Preparing periodic administrative reviews of trusts and

companies

¢ Liaising with Compliance/ Business Risk Management,
internal/external auditors and regulators as required to ensure
adherence to all internal policies/procedures and regulatory

requirements

* Ongoing updating and maintenance of trust administration
system as it relates to account management
¢ Projects as assigned from time to time.

KNOWLEDGE/SKILLS REQUIRED:

* Bachelors degree in law, business administration, accounting

or related field

¢ Minimum 3-5 years experience in trust and company
administration or related experience
¢ Strong oral and written communication skills

¢ STEP qualification is desirable

¢ Sound knowledge of fundamental trust and company laws
and related administrative practice

* Basic knowledge of banking and investment products and
their application in overall management and administration

of wealth

¢ Basic understanding and working knowledge of accounting

concepts and their applications

* Ability to identify potential risk issues and solutions and to
communicate these effectively to senior management
¢ Excellent time management, organization and administrative

skills

* Strong analytical and problem-solving skills
* Strong PC skills; knowledge of 4Series an asset
* Strong interpersonal skills and excellent team player

Salary commensurate with qualification and experience and
interested Bahamian candidates should forward a copy of their
resume to:

Human Resources
PO. Box N-10697
Nassau, Bahamas or
Fax: (242) 325-0911 or
E-mail: smith@experta.bs



tral securities depository from
issue. The depository would
then do the rest, in the event of
a sale, to complete every step
of the transaction.

TUESDAY, APRIL 3, 2007, PAGE 5B

The Tribune

Real Estate |

Tre edn anew eMC token acs eeemeaeareren
Everywhere The Buyers Are!

Lo.

RESOURCES &

OFFICE MANAGER

Seeking EXPERIENCED
Human Resources & Office Manager.
Salary will be commensurate with experience.
Only persons meeting the requirements
below should apply.

¢ A Bachelor’s Degree in HumanResources

e At least Five (5) years experience in Human
Resources

¢ Working Knowledge of the Employment
Act, 2001

Please submit your application via email to:

bahamasexecutivesearch@ gmail.com



THE CENTRAL BANK
OF THE BAHAMAS

B$ COUNTERFEIT BANKNOTE AND
INTRODUCTION TO CRISP SERIES SEMINAR

PLACE:

CONTACT NOS.:

APPLY BY:

THE CENTRAL BANK OF THE
BAHAMAS TRAINING ROOM,

MARKET STREET AND TRINITY =

PLACE
ENTRANCE

SESSION 1
APRIL 18, 2007 FROM
11:30 A.M. TO 1:00 P.M.

SESSION 2
APRIL 18, 2007 FROM 6:00 P.M.
TO 7:30 P.M.

302-2620, 302-2622 &
302-2734

APRIL 13, 2007

THE SEMINAR IS OPEN TO BANKS AND BANKING
INSTITUTIONS, GOVERNMENT AGENCIES AND
CORPORATIONS, PRIVATE COMPANIES AND THE
GENERAL PUBLIC. APPLICATIONS WILL BE TAKEN
ON A FIRST-COME /FIRST-SERVED BASIS, AS SPACE IS

LIMITED.

KINDLY INDICATE WHICH SESSION YOU WILL BE

ATTENDING





PAGE 6B, TUESDAY, APRIL 3, 2007

THE TRIBUNE



Tribune Co accepts $8.2bn buyout
offer from Zell, plans to sell Cubs

@ By ASHLEY M HEHER
AP Business Writer

CHICAGO (AP) — Real
estate mogul Sam Zell won the
batthe-of the billionaires Mon-
dayelanding media conglomer-
ate “Bribune Co. after a down-
to-fhé-wire bidding war.

Even with the buyout’s $8.2
billion price tag, the outlook for
the nation’s second-largest
newspaper publisher remained
as uncertain as it did six months
ago when it began a strategic
review to boost a lagging stock
price.

A big chunk of new debt also
will be required to pay the $34 a
share cash buyout. Zell is count-
ing on repaying the debt large-
ly through tax benefits from a
new employee stock option plan
that would supplement existing
retirement accounts for the
company’s 20,000 workers.

Aside from selling the Chica-
go Cubs baseball team and its
stake in Comcast SportsNet,
Zell and Tribune executives
were mum about prospects for
the rest of the company’s assets,
including 23 television stations
and fine newspapers ranging in
size*from the Los Angeles
Times and the Chicago Tribune
to the Daily Press in Newport
News, Va. that will remain after
two papers in Connecticut are

sold.

“Whether someone whose
experience is in commercial real
estate — in steel and cement
and bricks and leases — can
navigate the ungainly media
structure for success remains to
be seen,” said Rich Hanley, a
journalism professor at Con-
necticut’s Quinnipiac Universi-
ty. “This is unlike any other
business he’s touched. ... The
stakes are very high.”

Tribune Chief Executive
Dennis FitzSimons told The
Associated Press that there are
no plans to cut the company’s
work force or sell off other
newspapers or TV stations.

“This is a good outcome for
our shareholders and a good
outcome for our employees,”
FitzSimons said in the interview.

But industry observers said
more divestitures or spinoffs are
likely, especially as Zell learns
the ropes of the newspaper
business and a company that
has been losing readers and
advertisers to the Internet.

“There tends to be a fairly
long learning curve with respect
to how newspapers operate,”
said Sammy Pappert III, the
chief executive of Dallas-based
newspaper consultants Belden
Associates.

The company’s complex deal
with Zell has a relatively small

COMMONWEALTH OF THE BAHAMAS 2007

IN THE SUPREME COURT

Equity

129



@ THE Los Angeles Times building is seen in downtown Los
Angeles. Tribune Co., the owner of the Chicago Tribune, Los
Angeles Times, and various other newspapers and TY stations, has
accepted a buyout offer from real estate investor Sam Zell in a deal
valued at about $8.2 billion, the media company has said.

breakup fee — $25 million —
leaving open the possibility of
another counter bid from Los
Angeles billionaires Eli Broad
and Ron Burkle, who also sub-
mitted $34-per-share offers for
Tribune.

“A low breakup fee could
encourage a trumping bid from
the Ron Burkle/Eli Broad part-
nership or another bidder, but
this seems unlikely given the
lengthy and very public nature
of the review process,” Citi-
group analyst William G. Bird
wrote in a research note.

Representatives for the pair
declined to comment Monday.

Zell plans to invest $315 mil-

(AP Photo: Nick Ut)

lion in the media company and
will eventually become chair-
man of Tribune’s board when
the buyout is complete some-
time in the fourth quarter. The
offer needs shareholder
approval.

The buyout will be conducted
as a two-part deal, the company
said. The first’ stage, expected
to be completed in the second
quarter, will involve a cash ten-
der offer of $34 per share for
126 million shares, more than
half of the outstanding Tribune
shares. The remaining shares
will be purchased later at the
same $34 per share price.

Tribune has about 240 mil-

‘Lhe Petition of Mavis Clarlton, Executrix of the Estate
'G£.Trevor Dorsett late of Port Nelson, Rum Cay one of
‘thé islands of the Commonwealth of The Bahamas is in
#espect of the following parcel of land:

IN THE MATTER OF ALL THAT tract of
me land containing 293,427 acres situate on the

aaa Josiah Tallnall (1-76) approximately 2300 feet
west of Cotton Field Point in the vicinity of

mt
EN

AL
TE.



NOTICE

NOTICE is hereby given that BESHY LAVAUD OF
WILSON ST., P.O. BOX GT-2043, 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 ard day of April, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box



lion shares outstanding, accord-
ing to a regulatory filing.

“The strategic review process
was rigorous and thorough,”
William Osborn, a Tribune
director who led the review
process, said in a statement.
“We determined that this
course of action provides the
greatest certainty for achieving
the highest value for all share-
holders and is in the best inter-
est of investors and employees.”

The buyout already has the
support of two of Tribune’s
largest shareholders, including
the Chandler family, which has
about a 20 percent stake in the
media company.

Tribune purchased Times
Mirror Co. from the Chandler
family in 2000 for about $6.5
billion. In the years following
the deal, Tribune’s stock began
to fall, dropping about 50 per-
cent from early 2004 until last
spring. It has languished just
above $30 per share for months.

Charles Bobrinskoy, vice
chairman of Ariel Capital Man-
agement, said his money man-
agement firm also would sup-
port the Zell deal. Ariel Capital
owns about 6.1 per cent of Tri-
bune shares.

“These are clearly challenging

times for all newspaper compa-

nies, but we’re very pleased by
today’s announcement and plan
to support the proposed trans-
action,” Bobrinskoy said.

Opponents of media consoli-
dation predicted a staunch fight
with regulators in Washington,
especially regarding Tribune’s
cross-ownership of TV stations
and newspapers in the same
media market.

“There will be fierce opposi-
tion to the sale and it will be
used as a vehicle to underscore
the fight over media consolida-
tion at the FCC and in Con-
gress,” said Andy Schwartzman,
president of Washington-based
Media Access Project.

Tribune said Zell will use an
employee stock ownership plan
to finance part of the deal and
lower the taxes on any sale. The

employees as we build on the
great heritage of Tribune Com-
any.”

An ESOP allows the compa-
ny to borrow money and repay
loans using pretax dollars. Pay-
ments of both interest and prin-
ciple are tax-deductible and
would create more leverage for
a buyer.

“The ESOP can only help
pay down this mountain of debt
with a positive corporate cul-
ture that drives performance
but does not deflate the moti-

vation of workers,” said Joseph - .

Blasi, a professor at Rutgers
University who is an expert on
the structures.

Bear Stearns analyst Alexia
Quadrani said after the deal is
completed, Tribune will have
about $13.4 billion in net debt.
The company has about $5 bil-
lion in debt now.

“After an exhaustive six
month review we.believe this
complicated and heavily levered
transaction is another indica-
tion of the waning interest in
the newspaper business given
the ongoing secular challenges
that are weighing on the funda-
mental outlook,” she wrote in a
research note published Mon-
day.

Analysts have estimated that
the Cubs could fetch $600 mil-
lion or more. Tribune bought

the team in 1981 for $20.5 mil- .

lion.

Its strength as a sports fran-
chise — and the lure of poten-
tially steering them to their first
championship in a century —
has attracted the interest of
many potential buyers. Billion-
aire entrepreneur Mark Cuban,
actor Bill Murray and colum-
nist George Will are among
those rumored to have interest,
along with numerous Chicago
business figures.

Tribune’s share price fell
about 50 percent from early
2004 until last spring and has

remained just above $30 for °

months, down from an all-time
high above $60 in 1999.
Zell, 65, made his fortune






























a Munroe Beach on the Southern Coast of Rum N- 7147, Nassau, Bahamas. ESOP, which resembles a prof-. reviving moribund real estate. +

mes Cay in the Commonwealth of The Bahamas. it-sharing plan, will become the After a bidding war culminated °.

-_ majority owner of Tribune once in February, he sold his com-

Copies of the filed plan may be inspected during the the deal is complete. Zell will pany, Equity Office, to the pri- 4

normal hours at:- be entitled to buy 40 percentof vate equity firm Blackstone °,

= TAYLOR INDUSTRIES LTD. |] egompanyscommon stock: Group for 823 lion a9.

‘ (a) The Registry of the Supreme Court j a ae Fe 3

; WILL BE CLOSED ated with Tribune Company, _ cents, or 2.2 percent, toclose at ;

Ansbacher House, East Street North, which I believe is a world-class $32.81 in trading Monday on +

Nassau, Bahamas, and; FOR THE EASTER HOLIDAY ON publishing and broadcasting the New York Stock Exchange. *.

enterprise,” Zell said in a state- an

(b) The Chambers of The Law ment. “As a long-term investor, e AP Business Writer Dave *

Partnership, International House, No. 1 I look forward to partnering Carpenter in Chicago con- .

Virginia Street, Nassau, Bahamas. FRIDAY, APRIL 6TH with the management and tributed to this report.

Notice is hereby given that any person having right to SATURDAY, APRIL 7TH :

‘dower or any adverse claim not recognized in the Petition RI :

shall rete the ee - . March, ae . _ the Ro M ON DAY, AP L ITH N OTI Cc E :

of'the Supreme Court and serve on the Petitioner or the , 2

undersigned a statement of such claim. Failure of any 1 A ST dye! aaa oes ee re ’

such person to file and serve a statement of such claim WE REGRET ANY Minister responsibl eter Nation ality ; and “Oiigenehip ie :

and requisite documents on or before the 31st day of ictrati izati it] 2

i : registration/naturalization as a citizen of The Bahamas, and °

' . naturalization should not be granted, should send a written 4

The Law Partnership CAUSE TO OUR CUSTOMERS. and signed statement of the facts within twenty-eight days | »

Attorneys for the Petitioner from the 3rd day of April, 2007 to the Minister responsible 2

International House for Nationality and Citizenship, PO.Box N- 7147, Nassau, ;

No. 1 Virginia Street Bahamas. ‘

Nassau, Bahamas ‘

&

IDELITY NOTICE is hereby given that FANISE SIMON OF | |

1 hy SPANISH WELLS, 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 6

Arena OR ey exeeenonie VOGUE Es CEES ES IEE BE reason why registration/ naturalization should not be | ',

1.65 0.54 Abaco Markets 3.3
qos 10.70 Bahemes Property Fund 1 1-80 11.88 0.08 1,000 1689 0400 69 3.45% the facts within twenty-eight days from the 3rd day of :

: : ens CL eanamas ; : AOR Ouse, “0200 lee 262% March, 2007 to the Minister responsible for Nationality | «

2 30 128. | /Gahairis Wests 2-10 2/30 020 1,000 «0.199 «0060146 261% and Citizenship, P.O.Box N- 7147, Nassau, Bahamas. | ‘

1.49 1.12 Fidelity Bank 1.30 1.30 0.00 0.170 0.050 7.6 3.85% ‘
10.33 9.00 Cable Bahamas 10.35 10.35 0.00 100 0.915 0.240 411.3 2.32%

2.20 1.67 Colina Holdings 2.10 2.10 0.00 0.078 0.040 26.9 1.90% y

14.19 9.50 Commonwealth Bank 14.19 14.19 0.00 300 0.998 0.680 14.2 4.79% .

6.26 4.22 Consolidated Water BDRs 4.74 4.77 0.03 0.118 0.045 40.2 0.95%) Legal Notice .

B21 S64 cFenguad 5.04 5.04 0.00 0552 0.240 10.8 4.04% :

12:45 10.70 Fineo 12.45 12.45 0.00 0.779 0.570 15.7 4.58% .
17108. i045) pee 17.08 17.08 0.00 1644 (0810 10.4 2.09%

1.15 0.50 Freeport Concrete 0.50 0.50 0.00 -0.434 0.000 N/M 0.00% FUNCO LTD.

10,20 ICD Utilities 7.25 7.25 0.00 0.532 0.100 13.6 1.38%




J. S. Johnson (In Voluntary Liquidation)

Premier Real Estate




tee a we we




Notice is hereby given in pursuance of Section 239 (1)









Bahamas Supermarkets 15.60 16.00 1.766 1.125
















10.14 Caribbean Crossings (Pref) 8.00 8.25 10.00 0.000 0.640 NM 7.85% Y . ds
0.54 ° _RND Holdings 0.55 0.20 0.021 0.000 26.2 0.00% and (2) of The Companies Act, 1992 (as amended) that a '
ek Re ees! er-the-Counter Securities LLL MA Uy General Meeting of the above-named Company be held at
43.00 28.00 ABDAB 41.00 43.00 41.00 2.220 0.000 194 0.00% ; . sh eats
Bahamas Supermarkets 14.60 15.50 14.00 1.770 1.320 83 9.04% Ronald Atkinson & Co., Marron House, Virginia and ‘
oldings 5 0.55 0.45 -0.070 0.000 N/M 0.00% 4 : ise ;
sar eaetaeinmnen: rian i a he 2000". NIM : Augusta Streets, Nassau, Bahamas, on the 8th day of
cS = ‘BISX Listed Mutual Funds j d PEELE. iy, 2 : ; > ;
Fund Name YTD% _Last12Months __Div$ Yield % May 2007 at 9:30 a.m. for the purpose of presenting the







1.3337 1.2806 Colina Money Market Fund 1.333665" ’ | i

3.0988 2.7451 Fidelity Bahamas G & | Fund 3.0988*** Liquidator’s account of the winding-up and disposal of

2.6254 2.3312 Colina MS! Preferred Fund 2.625419°* ., re ; “
44502 Galina Bond Eund Godage 1 aes the company’s property to the Members of the Company.





10.0000



Fidelity Prime Income Fund






E> 4 2
z Bs bet in +: Mer ERODE ON 7
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity



Dated the 30th day of March 2007.

“NAVKEY



BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

52wk-Hi - Highest closing price in last 52 weeks








52wk-Low - Lowest closing price in last 52 weeks Ask $ - Selling * - 23 March 2007
Prévious Close - Previous day's weighted price for daily volume Last Price -L 4 over-the-counter price
Tgday’s Close - Current day's weighted price for daily volume Weekly Vol. - 1g volume of the prior week ** - 8 February 2007 Bennet R. Atkinson




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

Change - Change in closing price from day to day

Daity Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month eamings



Liquidator

*** - 31 January 2007




**** - 28 February 2007



a rey a a ce ene a ed ei ca wn ee Bn wee PP es Pt SH tO pets tat erent inns Ft th het eee, Meee - 8 February 2007

FO TRADE CALL: COLINA 242-502-7010 / FIDELITY 242-356-7764 / FOR MORE DATA & INFORMATION CALL {242} 394-2503





THE TRIBUNE |

TUESDAY, APRIL 3, 2007, PAGE 7B



Major subprime mortgage lender file

was
Be

for bankruptcy, fires 3,200 workers

@ By GARY GENTILE
AP Business Writer

LOS ANGELES (AP) —
New Century Financial Corp.,
once the nation’s second-largest
provider of home loans to high-
risk borrowers, filed for bank-
ruptcy protection on Monday,
the victim of its own financial
missteps as well as pressures
felt by its rival lenders.

New Century immediately
fired 3,200 workers — more
than half its work force — and
said it intends to sell off its
major assets.

“The Chapter 11 process pro-
vides the best means for sell-
ing our servicing and loan orig-
ination operations to financial-
ly sound parties,” president and
chief executive Brad A. Mor-
rice said in a statement.

“Tt is our hope that potential
buyers will be in a stronger
position than we are to employ
many of our associates on an
ongoing basis,” he said.

The company made the
move after exploring a variety
of possible ways to stay in busi-
ness, he said.

New Century was the latest
so-caled subprime lender to fall
on hard times amid a spike in
mortgage defaults caused by

borrowers unable to make pay-
ments. More than two dozen
subprime lenders have shut
down in recent months and oth-
ers are scrambling to stay in
business.

Subprime loans target bor-
rowers with low credit scores.
The mortgages carry relative-
ly high interest rates but can
also offer low initial payments.

“New Century’s failure raises
the very real risk that the prob-
lems facing the subprime sector
will spread into the broader
mortgage market,” said
Octavio Marenzi, CEO of
Celent, a Boston-based finan-
cial research and consulting
firm.

“Relatively lax lending stan-
dards were by no means limited
to subprime lenders, and prob-
lems could easily spread to the
broader banking sector,” he
said

New Century said it had
agreed to sell its loan servicing
business to Carrington Capital
Management LLC and its affil-
iate for about $139 million, sub-
ject to the approval of the
bankruptcy court.

CIT Group and Greenwich
Capital Financial Products Inc.
have agreed to provide up to
$150 million in working capital

to facilitate the reorganization
process, the company said.

New Century has also agreed
to sell certain loans and residual
interest in some trusts to
Greenwich Capital for $50 mil-
lion.

New Century, based in
Irvine, filed for Chapter 11 pro-
tection in U.S. Bankruptcy
Court for the District of
Delaware. The move had been
expected for several weeks.

“This was a very hard step

for me personally and clearly .

not the outcome I would have
preferred,” Morrice said.

Like other subprime lenders;

New Century profited during
the real estate boom, when
appreciation rates soared and
equity protected most home-
buyers from defaulting on their
loans. Most could simply refi-
nance or sell homes at a big
enough profit to pay off mort-
gages and move on.
Investment banks also
jumped in, eager to buy loans

from subprime lenders then’

slice them up into bond prod-
ucts to sell on Wall Street.

That helped New Century
stock hit its historic high of
$65.95 in December 2004. Its
loan production for 2005 hit a
record $56.1 billion.

Cn February 7, however,
New Century informed the
Securities and Exchange Com-
mission that it would have to
restate financial results for the
first three quarters of 2006. The
company said it had failed to
accurately tally losses from loan
repurchases,

It also faces federal probes
by the SEC and the U.S. Justice
Department. And sharehold-
ers, angry over their losses and
alleging mismanagement by the
company’s directors and offi-
cers, have fired off several law-
suits.

Last week, New Century said
several of its lenders planned
to sell their outstanding mort-
gage loans and use the proceeds
to offset payment obligations
by the company, while retaining
the right to recover the differ-
ence.

The company has signed con-
sent agreements with several
states and received cease-and-
desist orders from others in
recent weeks.

The state agreements are
intended to keep New Century
from accepting new mortgage
applications on grounds that it
has violated state laws, includ-
ing failing to fund mortgage
loans after closing.

Coalition calls for public release

_ Baker’s Bay
_GOLF & OCEAN CLUB

As part of our commitment to employ 200 Bahamians off
our project we are seeking qualified Bahamians to apply
for the position of: oa

Yacht Fleet Manager a

Responsibilities will include:

Must have 5-10 years experience managing five’.
or more yachts ve

ray

o,
~e

Must have diesel and gas engine experience
Must be Computer Literate 7
Must be willing to live on an out island

Ability to work on own initiative is important
Ability to work with existing team

te

Bos

to

aS

e, >,
oe

Salary and benefits will be based on experience and will
include health benefits. Only qualified applicants need:

apply. oa

Applications can be directed to:
Indira Edwards
P.O. Box AB20766
Marsh Harbour, Abaco

Or iedwards@bakersbayclub.com

of the NHI economic study

ble.”

Mr Rolle said the Coalition and other
private sector organisations needed “to be
comfortable the results are shared with us”
and the full results from the economic
impact study published, rather than it be
“made to fit a particular case”.

The Tribune understands that at the |
meeting with the Coalition, the consultants
were directed to the. 2003 Tourism Task- ~

force on Trade Liberalisation report, which
showed how the Bahamas’ competitiveness
was being blunted because it was a high-
priced destination and losing market share.

There was also a feeling among some
present that the questionnaire DAH Con-
sulting would use to obtain information for
its study were written in such a way as to get
the 4nswers the Government wanted,

sources told The Tribune.
dikes

f Baker's Bay Golf & Ocean Club is a $500 million
project under development on Great Guana Cay,
it includes 381 residential homes, a 70-acre
environmental preserve, a 180-slip marina, a
championship golf course anda 70-room luxury
hotel. ie

FROM page 1B

going to impact the business sector,” Mr
Rolle added. ,

“It’s going to be very important, but we
have to be cognisant of the fact you can
make data.reflect what you want it to
reflect, so, from our perspective it has to be
as open, frank and transparent as possi-

anmnurat arg De



fol VL Ue) ae lt DM Tee ei Cele

Our client, a bank & trust company, is seeking applications for the following managerial
positions: ,

OFFICE ADMINISTRATOR:

Responsible for the profitability and efficiency of the office and providing leadership
and direction in human resources, budgeting, compliance, billing & collections, expense
management, marketing, filing, technology and office services. The Office Manager will
also be responsible for the preparation of financial statements, bank reconciliations and
management accounts.

Zum Cy

RESORF MARINA
REQUIREMENTS & PERSONAL ATTRIBUTES FOR OFFICE ADMINISTRATOR: iHE BAHAMAS
Candidates must meet the following criteria:
¢ Minimum of three years relevant administrative management experience.

Bachelor’s Degree or higher in related field. Masters degree preferred

Proven ability to enhance operational efficiencies

Proficient in the use of the Microsoft range of applications

Knowledge of Quick Books

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

dees
4

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 26 acres 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.

CLIENT RELATIONSHIP MANAGER:

Responsible for the maintenance and control of client records, payments and
disbursements, the preparation and analysis of monthly client financials and mvoices, and
posting and reconciliation of client cash and security trading transactions. The Client
Relationship Manager will also be responsible for preparation, maintenance and analysis of
loan/trust documentation and related fiduciary records.

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

REQUIREMENTS & PERSONAL ATTRIBUTES FOR CLIENT RELATIONSHIP MANAGER:
Candidates must meet the following criteria:

Minimum of three years relevant IBC/corporate administration

experience.

Bachelor’s Degree or higher in Business, Law, Finance, Economics or Accounting

required. Masters degree preferred

Excellent data entry skills

Proficient in the use of the Microsoft Word & Excel

Ability to read and interpret governing instruments and legal documentation

including trust agreements, wills, investment management agreements, custodian

agreements, etc. Skills and Attributes
Both Candidates should also meet the following criteria:

* Proven ability to enhance operational efficiencies

Experience with compliance and KYC processes and procedures

Strong technical and managerial skulls

Excellent communication, analytical and reasoning skills

Excellent organizational and time management skills

Team Player with the ability to add value and strength to the company

Honest, hardworking and possess ability to meet deadlines

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

Both positions offer attractive salary and benefits package, reflecting the autonomy

successful applicant’s experience and qualifications, including a pension plan
and medical coverage.

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

Pires individuals should submit complete resumés including references before April
0", 2007 to: .
Closing date for applications 04/04/2007.
H.R. Manager
Montana Holdings Ltd
P.O. Box N-9322
Nassau, Bahamas

Mark E. Munnings
Partner
Deloitte & Touche
P. O. Box N-7120
Nassau, Bahamas
or

Email:mmunnings@deloitte.com.bs Fax 677 3007

Deloitte. Email: island_development1@yahoo.com





PAGE 8B, TUESDAY, APRIL 3, 2007

THE TRIBUNE



ear I eee
Talks ongoing over ‘stalled’ marina deal

Hilton, sources familiar with the
situation have told The Tribune,
with there being no issues that
would act as a “deal-breaker”.
The Tribune revealed last
week how the Island Global
Yachting (IGY) project was “in
limbo”, the New York-head-
quartered company saying that
the new partner in the British
Colonial Hilton “decided to
change the terms of the deal”.
However, this newspaper has
subsequently been told that
i talks between IGY and the
‘new partner’, Adurion Invest-
ment Management, a boutique
Swiss/UK investment house that
has bought a majority stake in
the hotel’s holding company,
the British Colonial Develop-
ment Company, are continuing
with all parties agreed on how
they want the project to look.
The only differences are
understood to be over the path
taken to achieve that goal, with
Adurion wanting to re-work the
initial proposals to achieve a
solution that is mutually bene-
ficial to all parties, including
themselves and IGY.
The Tribune was told that
there was “no real deal breaker,

rently stalled multi-million dol-
lar marina and boutique resort
investment project proposed for
a site just to the west of down-
town Nassau’s British Colonial

@ By NEIL HARTNELL
Tribune Business Editor

“NEGOTIATIONS are
ongoing” to resolve the cur-

Notice

IN THE ESTATE OF STEPHEN
ORLANDO late of 6021 Gulf of Mexico Drive,
Longboat Key, in the State of Florida one of the
United States of America

Deceased

NOTICE is hereby given that all persons
having any claim or demand against the above
Estate are required to send the same duly certified in
writing to the Undersigned on or before the 26th
day of April, 2007, after which date the Executor will
proceed to distribute the assets having regard only to
the claims of which they shall then have had notice.

AND NOTICE is hereby also given that all
persons indebted to the said Estate are requested
to make full settlement on or before the date
hereinbefore mentioned.

FROM page 1B

McKINNEY, BANCROFT & HUGHES
Attorneys for the Executor
Chambers

P.O. Box N-3937

Mareva House,

No. 4 George Street,

Nassau, Bahamas.

successful exports were seafood,
poultry, citrus fruits, eggs and
vegetables.

The Inter-American Defence
College study said the Bahamas
needed to focus on using “new
forms of energy that would
lessen the dependence on
imported petroleum for both
electricity as well as the trans-
portation sector”.

It added: “Without a diversi-



THE WESTIN gz,

GRAND BAHAMA ISLAND .

A ep ate



Sheraton
OUR LUCAYA Grand Bahama Island
Resort pee EoGAY a

EXCELLENT CAREER OPPORTUNITY EXIST FOR

Director of Groups Sales _Director of Food & Beverage

Coorasp inl orator ee aremnaTU bine) nase This executive committee level candidate will direct and
Successful solicitation strategy: to all organize the F &B functions for 14 restaurants at the resort
market seginents in order to meet and/or in order to maintain high-standards of F & B’quality,.
Prasat beara nana cy service and ence eal to-maximize. Wa

Sten eb O OU U eutey Aen eat food
PUM aoe KO oR IOIAE OR al epee Trt
experience in hotel operations, culinary and sales.
Bachelors degree and multilingual ability preferred.

Executive Sous Chef
NTHTetoreca Ue cesT UCCEt sea U steno sre uer 11s PSR atte conti
ODM men Corsa LMT er Ni ORCL Say WTO eH
operations and will train ened Wee hae a rT yy

Corel Ce TEN

-Must possess Knowledge and experience in

revenue management, computer programs, Word,
Excel and Delphi. Bachelor’s degree preferred with
a minimum of 5-years experience in hotel sales. _

SET eg RTS

This successful catididate will assist the executive
ONTO IN KON ote AUC CORN culinary
Operations of the hotel’s “fine dining” room, train
Bem aunts Sos and moniter-food quality.

JAC MLTeLH TsO CLEA TB UNTIMCLN IIT AaLCacl Ny Ze

Analysis capabilities. Knowledge in writing menus, sanitation
RY Tue Tce pete) 0) Ero) ob tex LUN Coe AY ATELNLELTT NOD

BA Od Modi Kor ENO. cul Noo O I GTN THTI ETE

size operation with multiple food outlets in excess US

75,000 square ft. Culinary or apprenticeship TE
gue

ered a ee ge

A Saep NENG mae bitancN OME IENItCa TEL (es

PHU ANI AU MTR AND E CeO IN AZT
SUR UTS aca Alar JESU eSB HLA). ae
connectivity of all servers Sa EW) was

MAAK ag To

A minimum of-two years experience as.an Asian
Chefide cuisine in aresort or hotel with multiple food
Outlets and 500+ rooms. Thorough knowledge in Thai,
(Olitfitasean Piller Dolce NIMC AT Cem sr-Conte (oeg

or culinary degree:from an accredited institution
Moigucin

PGE ety

Will lead,-direct and manage the accounting

Department and produce accurate, efficient and *
Relevant operational information for the Resort.

Perform regulatory audits, formulation, compilation
And presentation of forecasts, budgets, financial
NAHE TS

OSC MCeM Te UICC TM CON CeIW env lonelg
network and PC operating systems and troubleshooting
techniques. Strong customer service orientation,
Certifications and MCSE preferred.

A minimum of 5 years experience in accounting,
Finance or related field with at least 3 years
+ Experiefce-in the management and administration of
SAU scone oer oe nnaem aCe
Excel, Word and Delphi. Bachelor’s Degree preferred.

DU Cu OR i a

Will train, supervise and work with all catering and convention services staff,
AMUT a CORONER AY aun Cremer Cen Tes ices Torr et PS it eS 3
merchandising and execution of the functions. , ;

Position requires knowledge in preparation, implementation and-compilation:ofdata —
for strategic sales plans, monthly BaCPAC reports, forecasting and experience oe

F & B, sales and hotel operations. Computer skills in word, excel and Ba 4
necessary. Bachelors degree preferred.

We offer exceptional pay and benefits.
Resumes should be forwarded on or before April ee PAV
tamara.wilson@starwoodhotels.com
We
Sharon.sands@starwoodhotels.com
Pe LUT EL IM Case) cers Blo oy: TaH0 (et | Se
Westin & Sheraton Grand Bahama Island Our Lucaya Resort
P.O. Box F-42500
Oro vue ON IOM sr Lin TE



no tough nut” lying in the way
of achieving a new joint ven-
ture deal between IGY and the
British Colonial Development
Company, but no agreement
had been reached yet and there
was no signed document.

It is understood that Adurion
felt the original proposals for
the IGY project, on a second
look, were “not such a good
idea” and that there was a more
effective way to reach a solu-
tion acceptable to both sides,

The Government and: Adu-
rion are understood to have dis-
cussed the IGY project recent-
ly, and while the Christie
administration is keen for it to
happen, it will not interfere in
commercial negotiations and
transactions.

Andrew Farkas, IGY’s chair-
man and chief executive, told
The Tribune previously on the
project: “Right now, it’s in lim-

,bo because Adurion and the

pension fund who own the
property, and have a joint ven-
ture deal with IGY, decided
they wanted to change the
deal?

“The Government had
approved everything, and our

Government is urged

fied energy sector, the entire
economy is held hostage to the
petroleum market.”

‘The Inter-American Defence
College added that further pri-
vatisations of government-run
corporations and monopolies,
and the corresponding liberali-
sation of sectors such as
telecommunications, would also
enhance Bahamian economic
growth, boosting productivity
while reducing prices for con-
sumers and the drain on the
Budget.

“Lastly, the Government
needs to continue to encourage
the further diversification of the
economy,” the study said. “The
booming financial and maritime
support industries are more sta-
ble than the tourism industry,
but are still dwarfed by it.

“The Bahamas needs to find
several more niche industries
on which it can capitalise as well







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deal with the pension fund was
fine. Everything was in great
shape, but then three weeks lat-
er the pension fund decided to
take on a new partner, and the
partner decided to change the
terms of the deal.”

When asked how much time
IGY was prepared to allow for
a deal to be worked out, Mr
Farkas replied: “Not much
longer. We’ve been at this for
several years, and have got a
lot of money invested.

“We’re very committed to the
Bahamas and have been for a
long time. We are participating
in a whole bunch of different
things going on down there. If
the worst comes to the worst,
and we end up in conflict with
Adurion, we might have to look
elsewhere.”

An economic impact study
predicted that the IGY project
would generate ‘ ‘very substan-
tial employment”, creating 700
direct full-time jobs and anoth-
er 400 indirect permanent jobs
for Bahamians. The indirect
jobs will be created at suppli-
ers of goods and services to the
development, and through ser-
vices provided to yachts.

to privatise

as it did others to make the-

economy ever more durable
from the economic downtiwn
in the US especially.”

The Inter-American Defence
College found that 30 per cent
of the Bahamian workforce -
almost one-third - was
employed by the Government,
with 17 per cent working in
sales, 15 per cent in hotels and
restaurants, 11 per cent each in
construction and financial ser-
vices, 7 per cent in transporta-
tion, and the remainder in man-
ufacturing, mining, agriculture
and fishing.

Using statistics derived from
the Economist’s October 2006
Country Intelligence Report on
the Bahamas, the study said
financial services and real estate
were the greatest wealth gen-
erators for the Bahamian econ-
omy, accounting for 31 per cent
of GDP.

SILK

The study also forecast that
the IGY development would
create 200-250 full-time jobs
during construction, and have
a total economic impact of
$222.8 million over a 20- “year
period.

Yet a spokesman for Adurj-
on’s partner, the Canadian
Commercial Workers Industry
Pension Plan (CCWIPP), said
Adurion wanted to keep the
planned British Colonial Hilton
refurbishment “on line with and
on schedule with” the IGY Pro>
ject.

He added: “Adurion’s lawyef
is preparing a new term sheet
and we’re very optimistic. Dr
Gassman was going to have it
done over the weekend, and
we'd like to go forward with it
at a very accelerated pace.” °'

IGY’s proposed marina on’,
West Bay Street would have 72°
slips, catering cniefly to the larg-
er yachts and vessels, those of
between 100-150 feet to 200 feet
and longer.

The development will feature
a boutique hotel of about 150+
200 rooms, several restaurants,
retail and a parking structure
for over 300 cars.

va
*

farm land ,

“ee

The Government accounted
for 20 per cent or one-fifth of
GDP activities, trade 11 per
cent, hotels and restaurants 10
per cent, and transportation 9
per cent. Construction generat-
ed 7 per cent of GDP, while
manufacturing and mining pro-
duced 5 per cent.

The Bahamas was found to
export $523 million worth of
merchandise goods and import
$2.149 billion, the US account-
ing for 77.5 per cent of the’ pur-
chases of this nation’s exports.
Similarly, the Bahamas import-
ed 83.5 per cent of its impor
from the US.

The merchandise trade
imbalanced by a 1:4 ratio, is
counterbalanced by the com-
mercial services trade surplus.
The Bahamas exports $2.452
billion in services, and imports
$1.26 billion, making for a 2: A
ratio.

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Full Text
The Tribune

Che Miami Herald

BAHAMAS EDITION

{!)

81F
69F

SUNNY 10



4





HIGH
| LOW

PARTLY CLOUDY

Volume: 103 No.111




AY BSTOT ETT
CRUST CU LLY

SEE FRONT PAGE OF BUSINESS SECTION



ARTH

TUESDAY, APRIL 3, 2007

OR FOULKES HAS HIS SAY.

a SS






hanging in cell in
probable suicide

@ By BRENT DEAN

JASON Murphy, an inmate
of Her Majesty’s Prison, was
found dead, hanging from strips
of a blanket in his cell Sunday
night, after attempting to harm
himself earlier that same day.

According to a press release
issued by the prison, inmate
Murphy, who was twenty-four
years old, was on remand in
prison for murder. He was ini-
tially placed on remand for the
charge of causing a wound on
August 1 2003, when he was
further charged with murder on
September 2, 2003.

The deceased was convicted
of the crime of causing a wound
and received an eighteen-month
sentence on October 17, 2003.
Having completed this sentence,
Murphy remained in prison on
remand for the murder.charge.

Regarding the specifics sur-
rounding the death, the prison

press release indicated that at
5pm on Sunday, the inmate was
found with a self-inflicted
wound on his arm, which was
caused by a sharp object. He
was subsequently treated in his
cell for the laceration. Howev-
er, during routine cell checks
around 8.30pm, officers found
Murphy hanging from his neck
in his cell. The prison doctor
was summoned, but efforts to
resuscitate Murphy were unsuc-
cessful, and he was officially
pronounced dead at 9.13pm
Sunday.

The prison and the ministry
of national security, made no
further statements beyond the
press release.

Questions arise, however, as
to why Murphy was not placed
under some sort of watch after
the attempt to harm himself
earlier in the day. Additionally,

SEE page nine






Japanese man, unlawfully
imprisoned for eight years, to
have case heard by Privy Council

@ By ALEXANDRIO MORLEY
Tribune Staff Reporter

THE Japanese man who was imprisoned for eight years by gov-
ernment was granted leave yesterday by the Court of Appeal to
have his matter heard before the Privy Council.

Justice Dame Joan Sawyer granted Atain Takitota conditional
leave to have his case sent to the UK High Court.

Takitota is currently challenging the “ceiling” that was placed on
his award.

In December, 2006, Supreme Court Justice Jeanne Thompson
appointed a receiver to collect government taxes in order to satis-

SEE page nine




















Taste the buttery crust.
Smell the garlic

Look at all. that cheese--
Provolone, Garlic Oregano

Sata

according to authorities.

Howard K Stern’s
appeal application
is withdrawn

MByNATARIOMCcKENZIE |

HOWARD K Stern’s applica-
tion to appeal a judge’s order for }
DNA testing in the paternity :
challenge filed by Larry Birkhead : qaughter have come forward to
was withdrawn and subsequently + correct statements attributed to

An order was then made by them, and to make additional

the Court of Appeal for the appli- : i
cant to cover the fee of $5,000 for : bing headlines around the
attorneys representing each of the }
two respondents or $10,000 in ;
total. Paternity claimant Larry :
Birkhead, who yesterday was rep- :
resented by attorney Emerick ;
Knowles, was listed as one of the :

_ proceedings ‘could drag on for years’

Supreme Court justice Stephen
Isaacs ruled over two weeks ago :
that six-month-old Dannielynn :
be submitted to a DNA test, in :
the paternity challenge brought :
by photographer Larry Birkhead. :
Yesterday attorney Damian :
Gomez, who appeared on behalf :
of Stern in the matter, withdrew :
the application after the justices : q : : ues
of appeal raised scepticism about | speedily following the death of Daniel Smith in September of last
it. The court subsequently dis- :
missed the application. The fee :
of $5,000 to cover costs was :
agreed upon by the attorneys. :
Whenever an application is dis- ;

dismissed yesterday.

respondents and the Attorney
General’s Office as the other.

SEE page nine

villa

4

@ A SPATE of fires culminated with 24 houses in a Haitian
village being burned down yesterday after a fire started in the
area off Firetrail Road, according to police.

Fire services were called to the area at round 4.30pm,

“es

@



(Photo: Felipé Major/Tribune staff)

Former nannies to Anna Nicole’s

Other blazes were extinguished off Carmichael Road, and
the East-west Highway, however no further details on these
incidents were available up to press time.

: daughter come forward to correct

statements attributed to them

li By PAUL TURNQUEST
Tribune Staff Reporter

TWO former nannies to the
late Anna Nicole Smith’s infant

charges in the affair that is grab-

world.
Ms Quethlie Alexis and Mrs

Nadine Alexie, both represent-
ed by their attorney Elizabeth
Thompson, of Elizabeth E M
Thompson & Co, have recently
sworn affidavits contradicting a
previous affidavit attributed to
Ms Alexis regarding the rela-
tionship between Ms Smith, and
the former Minister of Immi-
gration Shane Gibson, and the

SEE page nine

Jurist claims Daniel Smith inquest

@ By KARIN HERIG

Tribune Staff Reporter



THE stalled inquest into the death of Daniel Smith may need an
act of parliament to move it forward again, which could make
proceedings drag on for many months, even years, a concerned

jurist claimed yesterday.

One of the country’s leading jurists, speaking on condition of
anonymity, told The Tribune that if the judiciary had moved more

year, many legal ramifications now being raised could have been

avoided.

Just days after it began, the inquest into the death of Anna
Nicole Smith’s 20-year-old son Daniel came to a standstill last
week when lawyers for Howard K Stern called the constitutional-

SEE page nine



ge houses destroyed after spate of fires



Bomb scare
at Atlantis

A SPATE of bomb scares
occurred in Nassau last week,
two of which happened at
Atlantis.

The media just yesterday
learned that the alarm was
sounded late last week at the
Paradise Island resort when a
“crude device” was found at the
hotel.

According to Police Commis-
sioner Paul Farquharson, it was
the second bomb scare experi-
enced at Atlantis that week.

Tribune sources claimed that
the device found late last week

SEE page nine
Senators seek to
ensure outstanding

Bills debated before
House dissolved

SENATORS were engaged
in a marathon session in the
upper house yesterday as they
sought to ensure all eight out-
standing parliamentary Bills
were debated before the disso-

lution of the House of Assem- | ,

bly.
These include the Pensions
Act, Police Service Act, ©

SEE page nine

Po

“Keep your finances on track!”
Fidelity Free Financial Planning

(or-1) Bi cole F-\ ame ) FIDELITY |

Nassau: T 356.7764 e@ Freeport: T 352.6676/7


PAGE 2, TUESDAY, APRIL 3, 2007

THE TRIBUNE



La Lar ae

The victimisation monster |

rears its ugly head again



QO: a visit to
Inagua last

year, I had the opportu-
nity to chat with a man
who was introduced to
me as one of the sons of
Wellington Smith. Hay-
ing regard to the experi-
ences of his early years,
I was pleased to see that
he had become a confi-
dent and intelligent gen-
tleman. Still, there was a
trace not of bitterness
exactly, but something
more like a steely defi-
ance.

Back in the 1970s
many Bahamians who
had aligned themselves
with the fledgling Free
National Movement
were viciously victimised
and intimidated by pow-
erful people in the PLP
and theirshenchmen.

The powerful ones
seemed to think that it
was a mortal sin for any-
one to dare oppose the
ruling party and that
they were justified in
their efforts to break the
will of their opponents
and to punish them for
their audacity. .

Some of the worst
cases in this brutal cam-
paign took place at
Inagua. The case of
Wellington Smith was
perhaps the most egre-
gious.

Mr Smith worked for
the Morton Salt Company and
was involved with church and
community activities. Once he
came to Nassau to sing with
the choir in the presence of the
Governor. He was pretty close
to being the ideal citizen,
except that he was not a citi-
zen.

Mr Smith was from Turks
Island. He had married a
Bahamian woman and had
fathered eight Bahamian chil-
dren with her. He was not
involved in politics and could
not even vote. But his wife was
a supporter of the FNM; and
that was, literally, the undoing
of the Smith family.



():: day the power of
the state descendea

upon Mr Smith and-his family
He was unceremoniously
deported to Turks Island by the
PLP government. leaving his
wife and young children without
their husband, father and
provider.

-While their own government »

persecuted them, the foreign
managers of the company
showed compassion towards
this Bahamian family. Phey
gave Mr Smith a job on one of
their ships so that, as a sea-
man, he could legally visit his
family in Inagua from time to
time.



The reports of victimisation in
Mayaguana are too many and
sound too credible to be ignored.
The managers of a foreign group
in partnership with The Bahamas
government have been accused of
brutal discrimination against resi-
dents of that island identified as
supporters of the FNM.





, es E-Z ners vac a
Donald’s Furniture
And Appliance Centre

SIXTH TERRACE CENTREVILLE TEL: 322-1731 OR 322-3875

No-one can know how
much Mrs Smith and hér
family suffered and how
many tears they shed
over the years. They sur-
vived, but the family was
smashed.

The demon which dri-
ves some human beings
to victimise others for
their beliefs and for exer-
cising their God-given
and constitutionally-
guaranteed rights is still
very active in the PLP

Perhaps it is driven by
the very same arrogant
attitude of entitlement
some members of that
party have cultivated
over the years because of
a grievous misinterpreta-
tion or abysmal igno-
rance of history.

Once again the biggest
victims are the most vul-
nerable in our society
and once again the
tyrants have identified
them as those who live
in what they regard as
remote corners of our
archipelago.

he reports of
A victimisation in

Mayaguana are too
many and sound too
credible to be ignored.
The managers of a for-
eign group in partnership
with The Bahamas gov-
ernment have been
accused of brutal dis-
crimination against residents of
Unat isiand identified as sup-
porters of the FNM

Three young Bahamian men
who had been hired by the com-
pany were fired just around the
Gime three expatriate workers
landed on Mayagiiana io take
up employment. Out of 85
employees only 30 are Bahami-
ans.

One would have thought that
the government and the com-
pany would be anxious to make
sure that every able and willing
worker on the island was
employed before recruiting
expatriates.

Another Bahamian who has
been doing plumbing work at
the island has been refused
employment while expatriates
have been observed doing the
same work. He happens to be
associated with the FNM. These
young men refuse to bow and to
violate their conscience for what
should be theirs by right.

B ut the most heart-
rending case is that of

Samantha Collie who has also
been refused work because she
is a supporter of the FNM. Ms
Collie has five young children
and they survive only with the
help of friends and what she can
make catching and selling crabs.

Monday - Saturday - 8:30am - 5:30pm

BILLY’S DREAM

SIE DNTD





Those who sit in high places and
who have power over the
victimisers cannot escape
responsibility for the ones who
carry out the persecution,
especially when a word from
them would bring it to an end.



Ms Collie may not be a con-
stitutional expert but she under-
stands that in her Bahamas she
is entitled to freedom of con-
science, freedom of expression,
freedom of assembly and free-
dom of association. She knows
that it is wrong for anyone to
try to deprive her of these free-
doms.

She refuses to be broken,
and that gives her a certain
nobility of spirit. It certainly
makes her a better citizen than
the cowardly cretins who per-
secute her, and those who con-
done them.

Back in the 1970s some of
those who instigated victimisa-
tion tried to make excuses for it.
One of their favourite dictums
was about power:

“If you don’t use it, you'll lose

it!”
_ they sounded much like
Adoii Hitler: “Terror is the
most effective political instru-
ment. I shall not permit myself
to be robbed of it simply
because stupid, bourgeois mol-
iycoddles choose to be offended
by it.”

\ / ictimisation is a form
ot terror. it is the use

of intimidation, discrimination
and victimisation against indi-
vidualszand groups. Its ultimate

objective 1s not. only. to punish .
its immediate targets but to:

strike fear in the wider popula-
tion, to cause them to bend to
the will of the tyrants.

There are basically three
kinds of victimisers. There are
the powerful ones who pull the

strings from the safety of their:

high offices. Some of this lot
will deny knowledge of the evil
they are perpetrating while oth-
ers will hide behind an alleged
cause

Among the second group are
the stupid ones who are pro-
grammed to believe that what

‘they are doing is for the greater

good even if it means destroying
themselves in the process. Like

the targets. they are also vic-

tims of the prime manipulators,

“4
he third group is popu-
lated by those sadistic

monsters who, in the definition
of Erich Fromm, like to have





STORE HOURS:

complete mastery over other
people, to make others helpless
victims of their will, to become
absolute rulers over others, to
humiliate and to enslave oth-
ers.

These vermin have always
crawled out of their holes
whenever the circumstances
were conducive to indulge their
dark nature, and they will go
just as far as those circum-
stances permit. They have fig-
ured prominently in every
bloody chapter of human his-
tory and in bloodless but nev-
ertheless painful persecution of
many.

They were at work during the
Crusades, the enslavement of
black Africans in the New
World, the French Revolution,
the Belgian genocide in the
Congo, the European genocide
in North America and the Nazi
Holocaust. ,

‘Most of them could not care
less about the cause and some
would work their mischief for
any cause. They do not believe
in the dignity of human beings
and either do not understand
or have contempt for concepts
like democracy and human
rights, not to mention compas-
sion.

hose who sit in high
. places and who have
power over the victimisers can-
not escape responsibility for the
ones who carry out the perse-
cution, especially when a word
from them would bring it to an
end.

They can try to avoid respon-
sibility like Herod or wash their
hands like Pilate, but they can

be excused neither by self-—

interest nor ignorance nor even
by their own shameful weak-
ness.

On their shoulders lies
responsibility for the pain and
humiliation inflicted on people
like Samantha Collie and her
five children, and all the others
who are made to suffer because
they dare to exercise their God-
given and constitutionally-pro-
tected rights as human beings
and Bahamians.

sirarthurfoulkes@hotmail.com
www.bahamapundit.type-
pad.com



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.

WOMAN SECTION
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_ GOMNGS cis sissies
Weather. i.i.cdetracot
SPORTS SECTION —
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MIAMI HERALD
Main hie ;



Share your news

The Tribune wants to hear



Opposition

ex-governor
escapes jail
in Venezuela

@ VENEZUELA
Caracas

A FORMER opposition
governor has escaped from a
prison in north-west
Venezuela, authorities said
Sunday. It was the second

4

y

t

high-profile jail break by a ‘

foe of President Hugo Chavez
in less than a year, according
to Associated Press.
Eduardo Lapi, ex-governor
of Yaracuy state, was report-

ed missing by prison authori- ~

ties early Sunday from the
San Felipe jail, where he was
being held on corruption
charges.

Interpol and immigration
authorities have been alerted
in case Lapi tries to. flee the
country, Tarek El Aissami,
vice minister of citizen secu-
rity, told a news conference.

Lapi, who governed

>

\

Yaracuy state for two consec- »

utive terms from 1998 to 2004,
has been accused of violating
a state bidding process and
influence peddling. He was
detained last May, but his tri-
al had yet to begin.

His lawyer, Alejandro
Arzola, speaking to The
Associated Press by tele-
phone, defended Lapi’s dis-
appearance, saying authori-
ties had violated his rights by
holding him close to a year
without even a preliminary
hearing.

“Not only was his right to
the administration of justice
violated, but also his right to
life was at stake,” Arzola said,
alleging that Lapi had
received various death threats
and was about to be trans-
ferred to a much more dan-
gerous jail.

Arzola called for authori-
ties to protect Lapi’s life and
guarantee his human rights,

Arzola said friends and rel-

atives were told of his
absence when they went to
visit him on Sunday.

Lapi’s escape follows that
of dissident Venezuela labor
leader Carlos Ortega last
August from the Ramo Verde
military prison near Caracas.

Ortega had been serving a
nearly 16-year sentence for
leading a crippling oil strike
against Chavez in 2002-2003.
The director of the jail was
later put under investigation
in connection with Ortega’s
escape.

FOR 3 IN 1 LAWN SERVICE
Fertilizer, Fungicide,
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Tropical Exterminators
322-2157














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‘4

a

t

a

y=. Sey aw FT
THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE 3



Mi (] eae ee See
Employee action at airport

causes disruption to flights

Oln brief

Retraction
of Nautilus
Water recall
story

' THE statements published
in The Tribune on Monday,
April 2, in the article entitled
“Nautilus Bottled Water
Recalled from Market,” were
incorrect and unauthorised.

The details in the article
that directly referred to the
company’s licensing issues
are presently being reviewed
by the requisite government
agencies. As a consequence
there has been no recall of
the Nautilus water products.

It must be emphasised that
at no point has there been
any accusation by any gov-
ernment agency as to Nau-
tilus Water Company pro-
viding a sub-standard prod-
uct. “The quality of Nautilus
Water has never been in
question, and Nautilus Water
Company remains commit-
ted to producing their inter-
nationally certified, world-
class product,” said a state-
ment from the company.

The Tribune sincerely
apologises for the unautho-
rised release of this article,
and for any unnecessary
damage and confusion
caused to the company and
its customers as a result.

Birkhead
faces $620k
legal bill for
services

ANNA Nicole Smith’s for-
mer boyfriend Larry Birk-
head has been billed more
than half a million dollars for
services rendered during
recent paternity and DNA.
proceedings.

Mr Birkhead’s former
lawyer Debra Opri - with
whom he parted ways two
weeks ago — is reportedly
asking $620,000 as payment
for her services, TMZ report-
ed.

Ms Opri, who has in recent
months been a constant com-
panion to Mr Birkhead, often
addressing the media on his
behalf in an outspoken fash-
ion, allegedly billed her ser-
vices at $475 an hour.

The impressive $620,000
bill is said to include pay-
ments for Ms Opri’s personal

publicist, the time she spent -

on flights to and from the
Bahamas, and even a $2,467
— seafood dinner at Gray-
cliff restaurant, which Mr
Birkhead allegedly did not
attend.

According to the break-
down of costs obtained by
TMZ, Ms Opri is also billing
Mr Birkhead $4,265 for cel-
lular phone use while she was
in the Bahamas, and laundry
items for her husband, who
often accompanied her
lawyer on her trips.

Ms Opri has reportedly
offered her former client a
$100,000 discount if he agrees
to pay the bill “without fur-
ther discussion.”

James Levesque, Ms Opri’s
publicist with Luck Media
and Marketing, told TMZ
that “Debra Opri always gets
paid. That’s what she does
for a living.”

Ms Opri’s lawyer David
Owen said: “We're pretty
confident that her bills are
fair and reasonable and he
has not paid them. She is
entitled to be paid and he
stiffed her and her bills are
fair and reasonable.”



of things we
think, say or do

1.ls 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





@ By ALISON LOWE
Tribune Staff Reporter

ABOUT 50 Nassau Flight
Services employees disrupted
the flow of operations at the
Lynden Pindling airport yester-
day as they voiced concerns
over unpaid salary increases and
hiring practices.

An emergency meeting
between the president of the
Airport and Airlines Allied
Workers Union (AAAWU)
and Minister of Transport and
Aviation Glenys Hanna-Mar-
tin took place in the morning
in a move made to diffuse the
situation.

AAAWU president Nerelene
Harding said that the union is
tired of waiting for the NFS
board of directors to honour an
industrial agreement signed in
April last year.

She was equally vociferous
about another cause of dis-

gruntlement — the recent hiring
of a new deputy general man-
ager under conditions that
many staff considered unfair.

Though not termed a strike, °

the employees’ action consist-
ed of gathering in the interna-
tional car park between 1.30pm
and 2.30pm, causing a slow
down of activities in areas such
as the check-in desks and bag-
gage handling sections.

Union executives estimated
that between 75 and 90 per cent
of all unionised employees — of
which there are about 120
according io one union repre-
sentative — were off the job.
However, other unofficial esti-
mates suggest that these figures
may have been exaggerated to
some extent.

Nonetheless, union vice-pres-
ident Robert Pickstock said that
the action would have “affected
operations very drastically.”

While the company made

headlines most recently in rela-
tion to the arrests of five bag-
gage handlers, NFS includes
ticketing agents, ramp agents,
airplane clean-up agents,
accounting employees and
supervisors — servicing seven
international airlines, including
Virgin, United Airlines, Jet
Blue, Continental, Spirit Air
and Air Canada.

In total, NFS can deal with
up to 24 flights a day, said one
employee.

Agreement

The industrial agreement at
the root of the employees’ com-
plaints was forged after an

international company — the |

Hay Group — brought in to
assess NFS salaries in compar-
ison with eight other govern-
ment corporations, determined
that NFS employees should

receive pay increases over a
period of years.

The board of directors at
NFS are overdue in providing
the monies that were scheduled
to be paid as a part of this
agreement, the president not-
ed.

“It's been too long, and all
there's been is promises,
promises, promises. We're tired
of the promises,” said one tick-
eting agent.

Chief shop steward Stephen
Hepburn speculated that the
company may have seen the
increases as "too drastic",
adding however that the
employees deserved the salary
alterations.

According to Mr Hepburn,
the Hay Group's report deter-
mined that NFS employees had
been significantly underpaid in
relation to those in other com-
panies.

Speaking to members, Mrs

Harding said she is confident
that Mrs Hanna-Martin was
doing her utmost to ensure the
situation gets resolved by
“tomorrow or Wednesday.”

She said the minister had
expressed concern that the sit-
uation had escalated to the
point where employees felt the
need to take action.

Mrs Harding stressed that the
funds needed to pay employees
their increases do not have to be
confirmed by cabinet, as they
are already provided for in the
2007 budget.

Therefore, all that is required
is a signature from the minister
herself. This was expected to be
provided by 5pm yesterday
afternoon.

Mrs Harding warned, howev-
er, that if this did not come to
fruition, further mass “lunch-
breaks” would be taken by
employees, causing yet more
disruption.

Consultations continue on plan to cut
congestion crisis in New Providence

â„¢ By BRENT DEAN

IN an attempt to address the
gridlock and chaos on the
streets of New Providence, the
Ministry of Transportation yes-
terday held the second in a
series of public consultations
designed to facilitate the imple-
mentation of the new Trans-
portation Congestion Reduc-
tion Plan.

The plan, is derived from a
study done by the Spanish com-
pany, Advanced Logistics
Group, for the government.

Some of the key recommen-
dations of the report are: new
downtown parking garages and
paid on street parking, restrict-
ed access zones, designated
routes and driving times for dis-
tribution vehicles, a new Par-
adise Island bus service; a pub-
lic outreach programme that
would, in part, increase car-
pooling, and the much discussed
— yet still unfulfilled — unified
public bus system.

Minister of Transport, Glenys
Hanna-Martin, opened the

workshop and acknowledged >

the immense frustration that
many Bahamian endure on the
streets of New Providence. Con-
sequently, the minister pledged
for action on the recommenda-
tions of the.report, once con-
sultations are completed.
“Out of this workshop - this
is the second one — we expect to
go in to the implementation



@ GLENYS Hanna-Martin

phase. There is only so much
talking we can do on this sub-
ject. The people are now ask-
ing for resolution,” she said.

Permanent Secretary for the
Ministry of Transportation,
Archie Nairn, stated that traffic
congestion problem in New
Providence is a significant factor
in lost productivity, fuel wastage,
pollution and vehicular wear and
tear. However, he warned that
there are no simple solutions to
solving the problem — such as the
building of new roads.

“Experts are of the view that
traffic congestion problems can-
not be resolved by simply build-
ing more roads. That is certain-
ly not the answer. But rather,
it is a combination of factors
that include the management
of the transportation system,

which is as equally as impor-
tant,” he said.

Traffic congestion in New
Providence has particularly
affected residents of the east-
ern end of the island. During
the school months, it takes res-
idents anywhere from an hour
to an hour and 45 minutes to
arrive at destinations that only
require a 10 or 15 minute drive
on empty roads.

Some drivers have indicated
to The Tribune that the have to
awaken as early as 5.30am in
order to have their children pre-
pared and on time for school.

The result of the increasing
traffic crisis on New Providence
is that the work day is continu-
ally expanded for Bahamians.
The early morning gridlock is
usually also accompanied by

- midday, after-school and after-

work traffic problems that add
further hours of frustration to
the work day, and make it diffi-

cult for businesses to deliver |

services in a timely fashion. :

Mr Nairn stated that the
there will be several stages of
implementation for the report’s
recommendations.

After the public consultations
are completed, he said that
those initiatives that do not
require new regulations will be
swiftly put-in place, whereas
those changes that require reg-
ulatory adjustments would take
more time to fully come to
fruition.

Nassau Institute launches
monthly discussion group

LOCAL think-tank the Nas-
sau Institute has launched a
monthly discussion group series
at their newly commissioned
offices in the Bay Street Busi-
ness Centre.

The series began last week
with a discussion on “The
Tyranny of the Proper” which
centred on the question of
whether or to what extent gov-
ernments should regulate the
lives of citizens.

These discussion groups take
place in the Milton Friedman
Room and are a long held
vision for the directors of the
institute.

The inspiration for these
meetings was said to come from
similar talks held at various free
market/libertarian think tanks
like the Foundation for Eco-
nomic Education (FEE) in New
York.

Ralph Massey, vice president
and economist for the Nassau
Institute, was the moderator for
the first session and presented a
paper entitled: The moral code,
Adam Smith and Uncle Mil-
ton’s logic: An introduction to
‘The Tyranny of the Proper’.

Mr Massey noted that all
societies, “big or small, for bet-
ter or worse” have rules that
regulate relations between indi-
viduals.

“It is a moral code that
defines acceptable and unac-
ceptable behaviour. It is a soci-
ety’s ‘rules of the game’ that
give day-to-day life a certain-

y.” he said.

Mr Massey noted that while
euelis a COC oh can support “mean-

oful life thin a society, it

may also limit meaningful
growth.

Pointing to the 18th century
Scottish philosopher Adam
Smith’s comments on the sti-
fling effects of the policies of
mercantilism at his time, Mr
Massey said modern society is
similarly plagued with the
“politically correct” ideas of
socialism.

He also discussed the views
of economist and free market
advocate Milton Friedman, who
believed that while government
should be involved in educa-
tion, it should do this in a way
that allows parents and students
“to choose among alternatives”.

Following Mr Massey’s pre-
sentation was a wide-ranging
discussion on the role of the
government in many aspects of
Bahamian life.

Topics including the pro-
posed National Health Insur-
ance scheme, and what was per-
ceived by most participants as
the failing Bahamian education
system.

It was suggested that a ver-
sion of Friedman's “voucher
system” — which proposes that
vouchers be distributed by edu-
cation officials to parents to be
redeemed at the school of their
choice — could work in the
Bahamian setting.

The argument is that once
parents are free to choose,
schools would be forced to
improve in terms of perfor-
mance in an effort to compete
for students and the funds that
go with them — in contrast to
the current system which sees
students “forced” to attend

whichever government school
they are assigned to.

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PAGE 4, TUESDAY, APRIL 3, 2007

THE TRIBUNE

nn SSS ;
EDITORIAL/LETTERS TO THE EDITOR -



The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI







PRESIDENT BUSH called it a “gesture,”
but that is far too wan a word, considering. The
occasion was the recent presentation in the
Capitol Rotunda of the Congressional Gold
Medal, Congress’s highest civilian award, to the
surviving pilots and support personnel of the
99th Squadron, U.S. Army Air Corps — the
legendary Tuskegee Airmen.

They flew in World War II against Naziism in
Europe, and against Jim Crow at home.

The latter victory took a little longer than
the first. *

The American military in World War II was
as racially segregated as a deep Dixie bus sta-
tion. For most black enlistees and draftees,
there was only the wood-hewing and water-
drawing tasks of servitude — busing tables,
hauling freight, scrubbing kitchens, digging
ditches; in short, the grunt labour of war.

African Americans had fought, and had
fought in numbers, in the Revolutionary War,
the Civil War, World War I.

Each time, they had hoped the black com-
munity would come out better at war’s end
because of their service. Each time, they were
disappointed. Black service was little noticed by
whites in its time and soon forgotten, often
mocked if recalled at all. ;

The Tuskegee Airmen, so named for the
Alabama town where they trained, wrote the
first chapter in a new narrative, one that point-
ed to President Truman’s 1948 executive order
opening the way to integration of the armed
forces. The last segregated unit was disbanded
in 1954.

The fighter pilots of the 99th flew missions in
the Mediterranean, Africa and Europe, most
famously protecting bomber runs into Ger-
many.

They won numerous decorations and, more

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.
Published Daily Monday to Saturday

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

Saluting the Tuskegee Airmen

Publisher/Editor 1972-

telling, the praise of the bomber crews they
covered. In all, the Tuskegee pilots flew some
15,500 sorties.

And came home to find paroled German
prisoners of war, awaiting repatriation, wel-
come in theatres and restaurants barred to the
men who, in their distinctive red-tailed planes,
had just helped win the war and set those Ger-
man prisoners free.

As President Bush noted in the award cere-
mony, “Even the Nazis asked why they” - the
Tuskegee corps - “would fight for a country
that treated them unfairly.”

Black America’s two-front war won some
victories at home, most notably a federal order
for equal pay for black workers in wartime
industries.

But many more tough battles remained to
be fought.

It was 20 years and many lynchings later that
Congress, with some in it still shamefully balk-
ing, passed the Voting Rights Act — and belat-
edly validated the skill, valor and hopes of the
Tuskegee Airmen and of the many more anony-
mous black troops who had fought for Ameri-
ca’s victory abroad, only to have to fight again
for America’s victory over itself.

Noting that the Tuskegee men were often
snubbed by others in the very military in which
they were serving, President Bush said, “I would
like to offer a gesture to help atone for all the
unreturned salutes and unforgivable indigni-
ties” — and formally saluted the aged remnant.

Did the president’s salute seem a bit short of
snappy?

Small wonder. He was lifting some 300 million
other arms along with his own.

(°This article is taken from
Cox News Service).

Court tells Bush to cool it

THE SLOW process of getting the United
States to deal seriously with global warming
came alive last fall when voters unseated Repub-
lican committee chairmen in Congress who con-
sidered climate change a hoax or a threat to
the petroleum industry. Monday’s Supreme
Court decision pushed the federal government
even closer to action by stripping the Environ-
mental Protection Agency of its nonsensical
claim that it could not curb the most common
greenhouse gas, carbon dioxide, because it is not
a pollutant.

Massachusetts led a group of 12 states and
several environmental organizations in a suc-
cessful effort to stop the EPA from arguing
that it was powerless to regulate motor vehicles,
which are responsible for about one-third of
all carbon dioxide emissions. By finding that
this gas is a pollutant as defined by the Clean
Air Act, the court’s 5-4 majority also opened the
door for regulation of emissions from electric
utilities and manufacturers.

In his majority decision, Justice John Paul

NOTICE



NOTICE is hereby given that JEANREN L. JOSEPH OF
EAST STREET, COCO PLUM, 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
senda written and signed statement of the facts within
twenty-eight days from the 27th day of March, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box

N- 7147, Nassau, Bahamas. |

WANTED

A Person Who Speaks German And Italian
To Act As A Personal Representative For

Visiting Tourists.

This Is A Five Day A Week Job But Might
Require Being On Call Some Weekends.

Interested Parties Should Call

Majestic Tours At

323-1410 For Personal Interview.



Stevens said “EPA has offered no reasonable
explanation for its refusal to decide whether
greenhouse gases cause or contribute to climate
change.” The Clean Air Act authorizes the
EPA to regulate pollutants that can “endanger
public health or welfare” and defines “welfare”
to include adverse effects on “weather” and
“climate.”

President Bush pledged during the 2000 cam-
paign to regulate carbon dioxide but then
reversed himself once in office under pressure
from the energy and auto industries. Monday’s
embarrassment should cause Bush to honour
that pledge and direct his EPA to curb vehicles’
carbon dioxide emissions. However, the most
immediate effect of Monday’s ruling might be to
strengthen the authority California has claimed
to insist on strict emission limits in cars sold
there. Ten other states, including Massachu-
setts, plan to adopt the same standards.

(° This is taken from the
Boston Globe — © 2007)




















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Those of usin
island communities:

must support our |
local councils

EDITOR, The Tribune.

FOR years local council
boards on Abaco have com-
plained about Central Govern-
ment making decisions. for
development of local sites with-
out any communication or dia-
logue at the local level. Recent-
ly this concern has come to the
forefront again as a result of
recent discoveries of Bahami-
an Government waste disposal
facilities being constructed
locally without the knowledge
of local boards, members of the
public, or even local Depart-
mental Offices of relevant min-
istries.

The waste disposal project
from the Ministry of Energy
and Environmental Health has
instituted its programme with-
out reference to local councils,
local governmental agencies, or
the public at large. The result
has been the selection and con-
struction, in progress, of two
garbage transfer staging sites;
one in Little Abaco, two miles
from the bridge, and east of
Cedar Harbour; the other on
the road to Cherokee, some
three miles east of the highway
to Sandy Point. Both sites have
become controversial for very
different reasons, but do share
one common denominator, they
are both sit atop very large fresh
water lenses.

The site in Little Abaco sits
in a tract of virgin pine forest,
unique in its geology, endemic
flora and fauna and geographi-
cal location; an area that by all
accounts should be conserved.
This same site is located approx-

_ imately one mile from the runs
of the Black Point sisal planta- -
tion,:a portion of its railway line, .

and.the largest solution hole in
Abaco, all subscribing to the
fact that this area should be pre-
served.

The site in the Cherokee area
of mainland Abaco is located
just over a mile to the west of a
200 acre well field designed to
supply a present demand of up
to 3/4 of a million gallons of
fresh water daily. This same site
borders on a free range small
ruminant (goat) farm to the
south and approximately 2000
aces of Agricultural Co-opera-
tive farmland to the west.

In both cases the implica-
tions of aquifer contamination
are serious.

Both sites are questionable in
their efficiency as temporary
waste holding facilities, because
both Treasure Cay and Sandy
Point waste collection vehicles
will have to travel in excess of
30 miles to dispose of waste.
















auto es
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Sales —

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LETTERS

letters@tribunemedia.net




While the Cherokee site is only
eight miles from the Central
land fill (garbage dump), the
Treasure Cay garbage will have
to return over the same 30 mile
stretch of highway on its jour-
ney to the Central land fill four
miles south of the Marsh Har-
bour Airport.

This simplified description
of a portion of Abaco infra-
structural development demon-
strates failures in key areas of
decision making and planning
procedures within the frame-
work of the Bahamian eco-
nomic and physical landscape.

Sadly the majority of the
Abaco public are unaware of
this series of events, even as
they unfold in front of them.
Yet the potential threats to eco-
tourism, to healthy environ-
ment, to agricultural produc-
tion, to historical artifacts, and
to species loss and biodiversity
are real, and alarming.

‘Unfortunately the attitude of
the Project Execution Unit
(Environmental Health)
towards the public at a recent
town meeting in Marsh Har-
bour did nothing to soothe the
individuals and their concerns
over the impact of such a pro-
ject. The attitude from the unit
was somewhat arrogant and
uncompromising in its decision
to proceed regardless.

The public are not attempting
to stop the project; in fact opin-
ion is definitely supportive of
the improvement of waste han-
dling and disposal. The objec-
tion is to the way in which
implementation occurred, and
the lack of knowledge, by the
decision makers, of the local
environment, its assets and the
potential damage and harm as a
result of the rapidity and lack of
consultation with local wisdom.

This whole scenario being
presently played out before our
eyes gives a definite insight into
two important institutions of
Bahamian civil society. Central,
Government (public service),
and the heart of democracy
(local councils).

The Bahamian government
and its attitude to the out island
communities is a present day
reflection of a colonial rule,
where development cannot
occur because the jealous
guarding of power by a central
authority supercedes any notion
of localised powers. The rule by
decree has been gone for over
30 years, but its institution lives
on regardless.

We Bahamians seem to be
under the impression that
democracy and its responsibili-
ties are limited to a general elec-
tion once every five years or so.

vA

eh

We are very proud of our’ ©

extremely high voter turn out, *
and our free and fair electoral
process. However we are not

prepared to shoulder the, ,

responsibility of continuing,”

supervision of our elected gov- ‘

ernment. Rather we have’ ~

allowed this power to be eroded
and eventually taken over by a

public service who by its own .-

naming should comprise our
servants. The existence of local ’
government allows the Bahami-’ _
an public to regain that control °
over our public servants. If |
Bahamian democracy is to grow

a

and flourish, we in the island _

communities must begin to sup-" ©
port our local councils. If we
don’t then Central government ,.
will continue to dictate, with-«”

7

out local dialogue, and our own , |

voices will remain unheard.
“A people get the govern-
ment they deserve.” A

7:

JOHN HEDDEN

Marsh Harbour, ;
Abaco, =
March, 2007.

Raising the

4

minimum

wage is not ~

the solution

EDITOR, The Tribune.

I READ in your paper today ~
that a US State Department’s:'

report says that the Bahamian’ '

minimum wage does not pro- '

vide a decent standard of living: "

for a family.

This may be so, but raising
the minimum wage is not the
solution.

The solution is to reduce the
cost of food by producing it’
locally instead of importing it, “
and provide farm subsidies’:
where necessary. Encourage '
wives to find jobs so that two “
wages are available and where- '
necessary, provide finance to
support baby and child care *
facilities. Lastly, provide cheap
low cost rented housing perhaps ~
with an option to purchase after ’
several years of renting.

Raising the minimum wage:
simply makes small businesses °

%

unprofitable so that there is no -’

growth in the economy and it

also raises labour costs so that! °
tourism, on which this country ~’

depends, becomes uncompeti- ’
tive. a
The TUC should be agreeing:
for the government to address‘

the suggestions I have made ’’

rather than just to raise the min- '
imum wage.

PAUL TATHAM
George Town,
Exuma,

March 7, 2007.

h Royal Bahamian Resort & Offshore Island
Col |

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THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE 5



ein brie? Pyblic call on commissioner

Man charged
with shooting
death in
February

A MAN appeared in Mag-
istrate’s Court yesterday in
connection with a murder
that took place in February.

Ricardo Edgecombe was
charged with the shooting
death of Anthony Woodside
of Fox Hill.

It was alleged that the 26-
year-old Edgecombe of John-
son Road caused the death
of Woodside between Mon-
day, February 26 and
Wednesday, February 28.

Woodside was reportedly
found dead near Kemp's
Alley. He was the 13th homi-
cide victim of the year.

Edgecombe was also
charged with causing harm
to Sherman Johnson on
Monday, March 5, while at
Ninja Lane in Fox Hill.

He was not required to
enter a plea to the charges
and was remanded in cus-
tody.

The matter was adjourned
to July 20 when a preliminary
inquiry is to take place.

Support for
dialogue
between US
and Cuba

@ MIAMI

CUBAN-AMERICAN
support for a dialogue
between dissidents and
Cuba’s government has risen
and support for the US trade
embargo of the island nation
has slipped, a survey released
Monday found, according to
Associated Press.

The Florida International :

University poll of Cuban-
Americans in Miami-Dade
County found 65 per cent of
respondents support talks
between exiles and dissidents
with the Cuban government,
the highest level in the his-
tory of the survey. :

The same poll in 2004 i

found 56 per cent of partici-
pants supported such talks;
the first one, in 1991, found
about 40 per cent were in
favor of them. About 57 per
cent support the reestablish-
ment of diplomatic relations
between the US. and Cuba,
the latest poll found.

A majority of poll partici-
pants, 58 per cent, support
the continuation of the
Cuban embargo, though only
24 per cent said the policy
has worked well. Support for
the embargo was down from
66 per cent in the last poll to
its lowest level ever.

About 29 per cent said the
embargo should be ended
immediately; 8 per cent said
it should end when Fidel Cas-
tro is out of power: 11 per
cent called for its end when
both Castro and his brother
Raul are gone. Around 37
per cent said the embargo
should be halted only when
there is both democracy and
a free economy in Cuba.

About half — 51 percent —
favored US military. action to
overthrow Cuba’s government.

ee Ualh
UTS

FOR PEST PROBLEMS
. PHONE: 322-2157

Rs

; TUESDAY,
: APRIL 3RD

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FAMILIES in the South
Beach area are furious over the
behaviour of a drunken “rogue”
policeman who they claim is
making their lives a misery.

They allege he is part of a
“culture of police brutality”
which is targeting teenage boys
in particular.

They want Commissioner
Paul Farquharson to step in and
halt the drunken policeman’s
“reign of terror” in the area and
force him into rehab.

The families claim the officer
attacks boys constantly, often
resorting to violence. “This man
is very unprofessional — inno-
cent civilians are attacked for
no apparent reason and beaten
badly each week,” a source said.

One young victim claimed he

was picked up by the officer,
beaten after being falsely
accused, then locked up while
the policeman went to Adelaide
to have a drink.

The boy alleged he was
denied phone calls and anything
to eat while detained by the
officer.

Another victim claims the
officer put a gun down his
throat and kicked him.

It is alleged the policeman
drinks on the job and is in des-
perate need of anger manage-
ment treatment. “Rehab inter-
vention should be enforced,”
The Tribune was told.

“This is not an attempt to
cause the officer to lose his job,
but he needs to be evaluated.”

When a mother complained





ee we a Bi

H COMMISSIONER Paul
Farquharson

about the policeman’s behav-
iour, he allegedly replied: “You




better shut up before I put you
in the same cell as your son.”

The source said: “With all the
scandal that is going on in the
Bahamas, until this shocking
statement, I have always
respected the Bahamas for
being Christian.

“These allegations were hard
to believe, but this type of
behaviour from various police
officers has been going on for
years. Don’t Bahamian taxpay-
ers have rights?

“Another victim has stated
that when the officer arrested
him, he was shoved into the
interrogating room harshly in
the chest area. Then the officer
told a colleague to close the
door so the boy’s cries would
not be heard.”

to handle ‘rogue’ policeman

Victims of police abuse in the
area are now being urged to file
official complaints. Restraining
orders are being considered to
ensure children’s safety.

Responding yesterday, Com-
missioner Farquharson asked
that those persons making the
complaint come to his office to
explain the situation.

The commissioner said he
will do his best to address the
problem.

He said he would "most cer-
tainly" take steps to have the
officer put into a rehabilitation
programme if the allegations
turn out to be true. - :

"They can come and see me..
My door is open, we'll get this
matter corrected," Mr Far-
quharson said.

‘contamination’

PEOPLE in Golden Gates
fear Shane Gibson’s new cam-
paign headquarters might be as
“contaminated” as he is, it was
claimed last night.

The freshly-painted building
in Carmichael Road was con-
demned some years ago
because of an underground fuel
leak, said independent election
candidate Clever Duncombe.

And locals are wondering
whether due diligence was done
on the building before it was
converted into Mr Gibson’s
election base, newly-painted in
PLP colours.

“The building could be as
contaminated as he is,” said Mr
Duncombe as he laughed off

reports that the headquarters’
grand opening over the week-
end was well-attended.

“T know a lot of people were
there, including many of my
own supporters wearing their
PLP T-shirts,” he said.

“At election time, lots of peo-
ple follow the food and drink.,
But I believe that, for Mr Gib-



son, this was The Last Supper,”
he added.

Mr Duncombe’s comments
came as people in Golden
Gates expressed concern over
the large concrete house and its
past.

He said the last family moved
out some yéars ago after the
fuel leak scare. The house was

PLP claims Ingraham attacking Pratt with
comments about religion and politics

@ By PAUL TURNQUEST
Tribune Staff Reporter

THE PLP is demanding a
public apology from FNM
leader Hubert Ingraham for

- what they claimed was a “cal-

lous and crude” attack on
Deputy Prime Minister Cynthia
Pratt.

According to party chairman
Raynard Rigby, Mr Ingraham’s
comments on Saturday morn-
ing at the FNM’s prayer break-
fast about politicians using reli-
gion to “bolster their politics”
was directed at Mrs Pratt.

Although Mr Ingraham did
not identify anyone in his gen-
eral remarks about hypocrisy
and the misuse of religion, Mr
Rigby said Mr Ingraham was
“obviously” referring to the
deputy prime minister.

‘While trying to be clever in
his use of language by not calling
names, in the view of the PLP he
is obviously referring to the only
ordained minister of the gospel
in the Cabinet, our dear deputy
prime minister. We hasten to
add that the DPM is not, how-
ever, a pastor of a church.

“Referring to our deputy as a
‘hypocritical preacher’ is most
unfortunate and shows the
nation that Hubert Ingraham
has little respect for a woman of

profound belief in God who wit-
nesses every day even while
respecting ‘the differing views
of others. There is no-one who:
would argue ‘her sincerity of
purpose and her goodness of!
heart and the witness of her
works,” he said.

Mr Rigby said it was
appalling in his estimation to
hear Mr Ingraham attempt to
discredit the “integrity and cred-
ibility” of one who had given
much to the nation and who
also takes great comfort in
preaching the word ‘of God.

“In fact, this is the same
preacher who openly and pub-
licly indicated that she prayed
for Hubert Ingraham when he
was the prime minister.

“Ingraham continues to send
the wrong message, and as a
leader of a political party, he
should be fully aware that our
constitution recognises and pro-
tects religious freedom and the
right of Bahamians to belong
to a church of their choice.

“This can’t be the same
Hubert Ingraham who shortly
after becoming the leader of the
opposition went publicly back
to Zion Baptist Church to reaf-
firm his membership there. It
was done in a blaze of publicity.

However, the FNM leader
said that the PLP could not pos-

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Do what tastes right?

i
i

sibly be expecting an apology
from him. Mr Ingraham said that

he already said all he had to say

at the FNM’s prayer breakfast.
“JT want to say at this juncture

and say it clearly,” Mr Ingra-

ham said at that event on Satur-

day, “There are some in political -

life in our country today who
have taken to using religion to

‘bolster their politics. They use

religion as a means to an end. A
prop to be taken up and put
down as the wind blows.

“These same individuals seek
to defame and denigrate others
who do not behave as they do.
For my part I say that a preach-
er lam not. A politician I am. I
do not pretend to be anything I
am not. I am no hypocrite. My
faith and my religion are mat-
ters that bring me spiritual
enrichment.

“I believe in Almighty God. I
believe in His son Jesus Christ.
I respect my God. I respect my
Lord Jesus Christ. I will not play
with God and I will not play
with the Lord Jesus Christ.

“I do not attend church so
that others might see me. Jesus,
after all, warned us about those
who do such things. He called
them hypocrites. A hypocrite I
am not. I do not put my faith on
display for politics,” he said.



said to be badly contaminated
at the time.

“Many feel it could still be
dangerous,” he added, “just as it
would be dangerous to re-elect
Shane Gibson.”

Mr Gibson, according to his
challenger, is still suffering enor-
mous fall-out over the Anna
Nicole Smith issue.

“The turnout at the head-
quarters opening means noth-
ing,” said Mr Duncombe. “I am
not fazed one bit. What I bring
to the table is success at tackling
real issues.

“T am no slouch when it
comes to doing things. Iam a
child’s rights advocate who







DEPT. NASSAU



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worked for the passage of the

_ Child Protection Bill.”

Mr Duncombe also expressed
disquiet over Bishop Ros
Davis’s decision to host a PLP
party in the grounds of his
Golden Gates Assembly
church.

“Why would a minister of
the gospel become. so
involved in politics?” he
asked. “He should not be ©
serving two masters. Either
he should do spiritual duties
to minister to all humankind
or get involved in frontline
politics. But he should not use
church grounds to host polit-
ical events.”









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PAGE = 6, TUESDAY, APRIL 3, 2007

THE TRIBUNE





LOCAL NEWS



Child abuse problem ‘has spiked
‘ramatically in past several months’

AMARA FERGUSON

blem of child abuse
to grow and has spiked

lly in the past several
Viinister of Social Ser-
viclanie Griffin said.

ling to Mrs Griffin, over
r, a total of 618 new
‘ew Providence were
the Child Abuse and
Units of the Depart-
ia! Services for inter-

I'm concerned about —

4p tuble level of neglect
of our children which
) the past few months
| a level basically

to the Bahamas.”
vinister said that if the
expects to maintain its
as a Stable, democratic
children must be molded
lesome and productive

ling ata press conference

epartment of Rehabilita-:

cltare Services to launch
otection Month, Mrs Grif-
| (hat children who will













HB MINISTER of Social
Services Melanie Griffin

become the architects and
builders of strong communities,
must be nurtured in an environ-
ment. where they are confident
and self-assured.

“We must consider all aspects
of child protection, which would
positively contribute to the devel-
opment of positive young adults

Gia

UE





Ny SERVICES



Matthew's Anglican Church

7 Shirley &

Church Street

DAY 2nd April - 7:30pm — BtalionsiGt the Crone

ESDAY 3rd April —- 7:0Gam Mass;
Gom ~- Service of Reconciliation

‘DNESDAY 4th April - 7:00am & 1:00pm Mass:
om Mass of the Chrism, Christ Church

dral.

clergy renew their vows at this service.

SAUNDY THURSDAY Sth April — 7:30pm Holy
icharist, Washing of feet and Watch before Altar of

ise, until midnight

>OOD FRIDAY 6th April — 9:00am Liturgy for Good
‘riday; 12noon — 3:00pm Devotions on the Seven

st Words

'‘STER DAY 8th April - 6:00am Easter Vigil & Holy

icharist:

10:30am -

Solemn High Mass,

; Fr ocession & Baptism; 7:00pm Solemn Evensong,

Sermon & Benediction



2 Ll ershes

auth 7 LSS

who will preserve and live by the
ideals of our nation’s constitution;
young people who will be physi-
cally, spiritually, mentally and
emotionally prepared to lead our
country,” she said.

Mrs Griffin noted that in 2005,
there were 54 reported cases of
sexual abuse, but that this
increased to 119 in 2006.

There were 163 cases of physi-
cal abuse in 2005 and 164 in 2006.

In 2005 there were 38 cases of
incest, reduced to 19 cases in 2006.

According to Mrs Griffin, this
year’s theme for Child Protection
Month, “Protect our children, pre-
serve our future,” was chosen to
underscore the importance ensur-
ing that the children of today are
adequately prepared to lead the
nation in the future.

Mrs Griffin said that there are
many ways each individual can
take part in the effort to protect
children.

“We can empower our children
emotionally by nurturing family
relationships that would allow
them to feel comfortable with
sharing their innermost thoughts



and feelings with us. We can also
create an environment in our
homes where children would be
able to tell someone they trust, if
anyone is abusing them,” she said.

Mrs Griffin said children should
be taught that mental cruelty and
being made to feel bad about
themselves are also forms of
abuse.

She also noted that “neglect”
is the second most reported cate-
gory of abuse against children. In
2005 there were 230 cases of
neglect. This went up to 292 in
2006.

The bill for a new Child Pro-
tection Act was tabled in the
House of Assembly by Mrs Grif-
fin last year. She said the bill was
designed to ensure the safety and
protection of children throughout
the Bahamas, and will increase
existing penalties for persons
found guilty of child abuse.

The main issues dealt with by
the Child Protection Act are:
parental responsibility, the con-
cept of significant harm to chil-
dren and expanding the definition
of cruelty to a child.

ABO
Crowds gather at the
opening of the PLP
Golden Gates
constituency office
on Friday night.

BH LEFT: Cutting
the ribbon at the
opening of the Gold-
en Gates constituency
office.

From left to right:
Prime Minister Perry
Christie, Golden
Gates MP Shane
Gibson, Bernadette
Christie, Mr Gibson’s
wife Jackie Gibson.

(Photos: Franklyn
G Ferguson)





















@ THE Ministry of Social Services and Community Devel- |
opment in conjunction with the National Child Protection
Council has planned a number of events for Child Protection
Month to educate the public about child protection.

These include:

e April 3 —- A presentation on “Save our Children” at
7.30pm at the Kiwanis Club Holy Cross Auditorium

¢ April 5 — Children’s Hour radio show at 3.30pm at

Abundant Life Bible Church

¢ April 11 to 13 — An exhibition from 10am to Spm Mall at

Marathon

e April 12 — Children’s Hour radio show at 3.30pm at

Abundant Life Bible Church

e April 12 —- An Urban Renewal town meeting from 6pm

to 8pm at the Church of God of Prophecy
e April 16 to 20 — A radio show from 10am to 12am with

Jeff Lloyd

April 17 —- A parenting seminar for Bott men and women
from 9am to 5pm at Her Majesty’s prison

e April 19— An Urban Renewal town meeting, from 6pm
to 8pm at Uriah McPhee Primary School

_ @ April 20 — A television show at 6am on Bahamas at

Sunrise
e April 24 -

A town meeting from 6.30pm to 8.30pm at

Mount Tabor Full Gospel Church
e April 26 — A radio show at “7pm on ZNS called: “Bridg-

ing the Gap”.

e April 26 — A town meeting from 6pm to 8pm at St
Michael’s Methodist Church, Churchill Avenue

PM’s claim is

challenged again as : :



Speaker described ”
as ‘serving pastor’ -

PRIME Minister Perry
Christie’s claim that
ordained ministers should
not be in politics was chal-
lenged again yesterday when
the Speaker of the House
Assembly was described as
a serving pastor.

Residents of Eleuthera
said Mr Oswald Ingraham is
head of the Ebenezer Gospel
Chapel in Tarpum Bay.

“This church was built by
Mr Ingraham on his person-
al property on the main
Queen’s Highway. It is head-
ed up by him and he is the
pastor,” said an island
source.

The disclosure came in
response to the PLP’s ongo-
ing dispute over the Rev CB
Moss and his rejection as an
election candidate for the
Bain and Grants Town con-
stituency. -

Prime Minister Christie,

Christ Church Cathedral

Schedule of Services for Holy Week 2 Easter
April 1st - April 8th, 2007

Sunday April Ist Sunday of The Passion & Palm Sunday

7:30 a.m.
8:45 a.m.

6:00 p.m.

11:15 a.m.

Holy Eucharist

Holy Eucharist

Monday April 2nd-1:00 p.m.
Holy Eucharist

The Liturgy of the Palms
Procession & Liturgy for Palm Sunday
Blessing & Distribution of Palms

Evensong, Sermon & Benediction

Tuesday April 3rd - 7:00 a.m. & 12:30 p.m.

Holy Eucharist

Wednesday April 4th - 7:00 a.m. & 1:00 p.m.

Holy Eucharist

7:30 p.m.

Liturgy of the Renewal of Priestly Vows & Blessing of Holy Oils

Thursday April 5th - Maundy Thursday 7:30 p.m.
Commemoration of the Last Supper &
Watch before the Altar of Repose

Friday April 6th - Good Friday 9:00 a.m.

Good Friday Liturgy

Service Times For Sunday April 8th, 2007

Easter Sunday

6:00 a.m. The Easter Vigil
7:30 a.m. Holy Communion

9:00 a.m. Procession, Family Eucharist
11:15 a.m. Holy Eucharist
6:00 p.m. Solemn Evensong, Sermon & Benediction



explaining Rev Moss’s fail-
ure to get nominated, said

he had been told by several *

prominent clergymen that
serving ministers should not
be involved in politics.

Rev Moss, who claims he

was betrayed by the PLP,

who had earlier promised
him the nomination, has now
challenged Mr Christie to
name the clergymen he is
referring to.

But Eleutherans stepped '

in over the weekend to claim

that Mr Christie’s assertion °

was nonsense and that par-

liament’s senior official is a .

practising pastor.

One said: “I don’t under-
stand the PLP’s preoccupa-
tion with C B Moss’s dual
role of politician and man of
God. Oswald Ingraham, the
Speaker of the House, is the
head of his church in Tarpum
Bay.”

In yesterday’s Tribune,
several serving politicians
were named as ordained
ministers; including Deputy
Prime Minister Cynthia
Pratt.

Rev Moss now wants to
know when the PLP reached
its decision that churchmen
should not be in politics.

Following the 2002 elec-
tion, he said, the PLP had
nominated him a senator,
despite his active role in the
church.

Furious at what he has
described as a broken
promise, Rev Moss has now
split with the PLP and
intends to run in the election
as an independent.

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.





780 e sneer FZ

o
‘ tee’

SLT FES oe eV Ss PE ES a

*
, eet a a!

ae ee

-2ewe

ea

Pweeee sea

+ MeL 8 Be ew a oS

FF 2 Ae See a2 28 CFe

ts

FP eam a
THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE 7





LOCAL NEWS

Circus condemned as the ‘saddest



show in town’ by animal activists

A NUMBER of animal rights
groups have condemned the
repeated granting of permission
to bring animals into the
Bahamas for use as “circus acts”.

Advocates for Animal Rights
(AFAR), ‘the Bahamas
Humane Society, Animals
Require Kindness (ARK), and
reEarth have come together to
label this practice as inhumane
and environmentally damaging.

“We do not believe in ani-
mals being exploited for human
entertainment,” said a policy
statement from the Humane
Society.

Sam Duncombe of reEarth
added: “The invitation of a trav-
elling circus can only further
harm the Bahamas’ cultural
perception of animals and con-
done the irresponsible attitudes
towards environmental conser-
vation and preservation in our
younger generations.

“We do our youth an injustice
by exposing them to showtime
images of wild animals, unable
to respond naturally to their
own environments or contribute
to the continued existence of



such,” she said.

“It is unacceptable to see wild
bears dancing, elephants stand-
ing on their heads, horses walk-
ing on their hind legs, or hyena’s
jumping through hoops, none
of which is natural behaviour
to any of these species.”

A Humane Society spokesman
stated: “The untold suffering and
anguish of animals shut in tiny
cages, enduring cruel training
methods behind closed doors and
suffering the rigours of excessive
travel is out of sight and out of
the minds of the majority.”

These statements come on
the heels of the Ministry of
Education’s announcement of
its intention to publish a book
entitled “Environmental Stew-
ardship” in an effort to promote
environmental awareness and
protection in all Bahamian
schools.

Mrs Duncombe said the gov-
ernment is sending out a con-
flicting message: on the one
hand promoting environmental
stewardship with the launch of
the book, and on the other
“undoing all of that work by

Baptist Church
Fifth Street, The Grove



FROM THE

CROSS —

WEDNESDAY, APRIL 4, 2007
AT 7:30PM

BRO. [AN BRATHWAITE JR
“Father, Forgive Them” Luke23:34

PROPHETESS KORALEE BRATHWAITE
“Woman Behold Thy Son”
St. John 19:25-27

PROPHET LENNOX ROWE
“Tt Is Finished” St. John 19:30

DEACON LUBIN BAPTISTE
‘My God, My God, Why Has Thou
Forsaken Me” Matt 27:46

allowing permission for animal
circuses to enter the country.”

“It is hypocritical of the gov-
ernment to promote environ-
mental stewardship whilst also
condoning environmental dam-
age by the removal of species
from their natural habitats by
encouraging Bahamians to
attend circus shows that include
wild animals,” she said.

Mrs Duncombe also pointed
to the neglected, but inherent,
danger that wild animals pose to
the public — as over-stressed,
captive animals have been
known to escape circus com-
pounds and either attack the
public or severely damage pub-
lic property.

She said there have been
more than 200 incidents where
people have been killed or
injured since 1990 by captive
elephants alone.

Jane Mather of Advocates for
Animal Rights asked if the gov-
ernment has a contingency plan
to control the escape of wild
animals from the Circus Max-
imus, being held at R M Bailey
park this month.

MIN. LEON EUGENE
“Today Thou Shall Be With Me In
Paradise” St. Luke 23:43

SIS. NADEEN EUGENE
“I Thirst’ John 19:28

PASTOR SALATHIEL ANDERSON



“Father Into Thy Hand”
St. Luke 23:46

- oree’s husband; Mar-

“In- all cases of animal wel
fare, exploitation, captivity,
treatment and preservation, the
Bahamas seems to be lagging
behind,’ Mrs Duncombe said.

The Bahamas Humane Soci-
ety, Advocates for Animal
Rights, Animals Require Kind-
ness, and reEarth called for a
national ban on shows involving
wild animals in the Bahamas.

This includes travelling cir-
cuses, flamingo dancing
parades, dolphin swims and any
type of display involving the
exploitation of animals

“We propose that only circuses
involving human acts be allowed
into the Bahamas ~ such as the
Canadian Cirque De Soleil,’ they
said in a joint statement.

Mrs Duncombe continued:
“Wild animals need to be. in
their natural habitat, surround
ed by the forces of nature that
have created them, socially
intermingling with their fami-
lies and competitive groups
not standing in cages, chained
to concrete, enclosed in cages
forced to perform in unnatural
ways and treated with violence.





RB ACTIVISTS have criticised the used of animals in circuses,
like these elepants in Munich last year
(Photo: AP/Uwe Lein)

Anita Bernad retires after 46 years serving
in schools and government positions

BH SURROUNDING A GALA retirement banquet was As permanent secretary, Mrs
Bernard’s four-layer held in honour of Anita Bernard,to Bernard has served in the ministries
cake from left to right celebrate her 46 years of public ser- _ of tourism, education, youth, sports

and culture, immigration and the
ministry of works and utilities.

Married to George Bernard III,
Anita is the proud mother and
grandmother of three daughters, one
son and eight grandchildren.

vice.

During her career she has held
myriads of titles, serving as a teacher,
senior training officer, public service
administrator and permanent secre-
tary:

are: Elma Garraway,
permanent secretary
in the Ministry of
Health and National
Insurance; Minister
of Tourism Obie
Wilchcombe; Canon

Warren Rolle of St

Mary’s; Canon Sh Y

Be nae are your news
een Suen The Tribune wants to hear from people who are making news
Bernard: George in their neighbourhoods. Perhaps you are raising funds for a
Bernard III, hon- good cause. campaigning for improvements in the area or

have won an award.
If so, call us on 322-1986 and share your story.

jorie Davis, former
director of education.





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|
PAGE 8, TUESDAY, APRIL 3, 2007

THE TRIBUNE



Scientists and diplomats to finalise

report on impact of climate change

@ NETHERLANDS
Amsterdam

FOR people in their 30s, cli-
mate change already has
reshaped the world to which
they'were born, according to
Associated Press.

By the time they reach retire-
ment age, the changes will be
far more dramatic — and per-
haps life-threatening on a mas-
sive scale, an authoritative UN
study,will say this week.

On Monday, the Intergov-
ernmental Panel on Climate
Change, a network of more
than_2,000 scientists, opens a
five-day meeting in Brussels,
Belgium, to finalise a report on
how warming will affect the
globe and whether humans can
do-anything about it.

The panel will paint a bleak
picture of increasing poverty,
paucity of drinking water, melt-
ing ‘glaciers and polar ice caps,
and a host of vanishing species
by'mid-century unless action is
taken to curb emissions of car-
bon dioxide and other heat-
trapping gases.

Some regions like parts of
North America and northern
Europe will see some benefits,
at least in the short term, from
longer growing seasons and
milder winters. ;

Even the most optimistic
forecasts say the climate will
continue to change and the
plan@t will be irrevocably dam-
aged The question is, how
much?

"We are going into a realm
' the ‘Earth has not seen for a
very long time... over the past
800,000 years," said Camille
Pagbsan, a University of Texas
biolggist who has studied the

effects of climate change on
wildlife and was a reviewer of
the upcoming report.

A draft of the IPCC's sum-
mary has been obtained by The
Associated Press, but policy
makers will go over the docu-
ment line-by-line this week
before unveiling the final text
Friday. It will then become a
guideline for governments to
determine policies and draft leg-
islation.

About 285 delegates from 124
countries are attending, along
with more than 50 of the scien-
tists who compiled the report
and dozens of observers from
nongovernment, mostly envi-
ronmental, organisations.

The closed-door talks are
likely to focus on predictions of
how many people will be at high
risk from changing ecosystems
and water cycles, and whether
such specific weather events like
Hurricane Katrina should be
attributed to global warming.

"Do you use examples? And
do you use ones that are rela-
tively positive or highly nega-
tive?" said Rik Leemans, a co-
author from Wageningen Uni-
versity in the Netherlands.
"You can tone it down or
strengthen it by including exam-
ples, and that's always an issue
in these discussions.”

Concensus

The summary's final wording
must be adopted by consensus
among the diplomats, with the
approval of the scientists.

While there may be editing
for the sake of nuance, the
underlying premise of the draft
report will not change. "A







a A POLAR bear plays on the tundra near Churchill, Manitoba, Canada, in this November 3,

2006 file photo. Animal and plant species have begun dying off or changing sooner than need
because of global warming, a review of hundreds of research studies contends.

(AP Photo/CP, Jonathan Hayward)

decade ago, climate impacts
were largely hypothetical," said
James J. McCarthy, a Harvard

_ University oceanographer who

was a main author of the 2001
IPCC report. "That's no longer
a question."

It is the second of four
reports by the IPCC. The first,
issued in February, updated the
science of climate change, con-
cluding with near certainty that
global warming is caused by
human behavior.

That report galvanised the
European Union to adopt an

ambitious goal of reducing car-
bon emissions by at least 20 per
cent from 1990 levels by 2020.

The IPCC's work will be pre-
sented at a summit in June of
leaders from the world's rich-
est countries, including US Pres-
ident George W Bush whose
administration has declined to
take coordinated action with
other nations to limit green-
house gases.

The latest report was six years
in the making. Since the IPC-
C's 2001 assessment, knowledge
about climate change has

become more precise, and stud-

‘ ies have tracked specific shifts

on the ground to changing tem-
peratures and weather patterns.

"Many natural systems on all
continents and in some oceans
are being affected by regional
climate changes, particularly
temperature increases," reads
the final draft.

Parmesan said storms and
floods have become more
severe in some places, coast-
lines have eroded and deserts
have expanded. Diseases com-
mon in the tropics have spread.

In the northern hemisphere,
spring is coming an average two
weeks earlier, disrupting bird
migrations and causing flowers
and trees to bloom too early.
At least 70 species have become
extinct so far because of global
warming, Parmesan said in a
telephone conference with
reporters.

The report will offer stark
warnings for the future.

Within 25 years, hunger and
death from diarrhea will threat-
en poor countries where crops
fail and water becomes more
scarce. Later in the 21st century,
warmer seas will likely destroy
coral reefs and the fish that feed
off them, and may lead to the
poisoning of shellfish. Tens of
millions of people in coastal
cities and river basis will likely
be affected by flooding, and
fresh water supplies will likely
be inundated with salt water
from sea surges. Small islands

will probably be submerged by _

rising sea levels. Beetles and
other pests are expected to
infest forests even more, with
forest and wild fires more fre-
quent and widespread.

But the scientists say not all
these dire consequences have
to happen. A third report to be
released in May will outline pos-
sible ways to slow the affects of
global warming.

"These are projections that
many of us believe don't have to
be the future; many of these can
be avoided" by reducing emis-
sions of greenhouse gases from
the burning of fossil fuels, said
Harvard's McCarthy. Though
the scientific projections are sol-
id, he said he is optimistic the
worst won't happen — "because
we can't be that stupid."

Judge advances lawsuit claiming overseas Projects
* backed by. US contribute to global warming —

KEMP'S FUNERAL HOME LIMITED |

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

La
: _ Merih (Mary)
Haines nee Yohanides

| of Westward Villas,
Cable Beach,
Nassau, The
Bahamas will be
held at the
Annunciation
Greek Orthodox

| Church, West
Street, Nassau on
Thursday, 5th April,
2007 at 11am.

Father Theodore Bita, Economos will
officiate and interment will follow in
Woodlawn Gardens Cemetery, Soldier

Road, Nassau.

Mrs. Haines was pre-deceased by her
husband, Thomas Haines and is survived
by three children, Jean Lightbourn, Errol
Haines and Charmaine Hills; two sons-in-
law, Bradley Lightbourn and Barry Hills;
one daughter-in-law, Daphne Haines; six
grandchildren, Sandra, Michelle and Dr.
Jacqueline Lightbourn, Christopher and
Chantal Letts and Dmitri Haines; two step-
grandchildren, Heather and Michael Hills;
two sisters-in-law, Venice Gorsun and June
Glennon; neices, nephews and other
relatives and friends, especially Mary and |
Steve Antonas, John Tevia Antonas, Kendal |
and Debbie Munnings, Nina Berdanis,
Jackie Sawyer, Bridget Duncanson, Shirley
Francisco, Christina Moretti, Dejasson
Orvil, Terry Jolly and Barbara Harris.

A rhanoenanes by Kemp's Funeral Home
Limited, 22 Palmdale Avenue, Nassau,

The Bahamas.



& SAN FRANCISCO

A FEDERAL judge has
advanced a lawsuit against the
government over its funding
of overseas projects that envi-
ronmental groups claim con-
tribute to climate change,
according to Associated Press.

The lawsuit, filed by environ-
mental groups and four US
cities, claims that the overseas
projects will harm the US envi-

ronment because the effects of &

global warming will be felt at
home, and seeks to require the
same environmental reviews

that are required for domestic ,

Pinder s Funeral Home
“Service Beyond Measure”

PALMDALE AVENUE, NASSAU, BAHAMAS
PHONE: 322-4570/ 393-1351 ¢ CELL: 357-3617

RANNIE PINDER President
Re eae a

William Higgs

of Spanish Wells who
died at Doctors Hospital
on Monday will be held
at the Methodist
Church, Spanish Wells,
on Wednesday, April
Ath, 2007 at 2:00 p.m.
Burial will be in the
church cemetery. Mr.
Ronald Pinder, Mr.
Billy Kemp and Pastor

Willie Pinder officiating.

He is survived by his wife, Rosemary Higgs;
one daughter, Theresa Robson; one son, David
Higgs; one daughter-in-law, MaryJo Higgs;
one son-in-law, Dion Robson; two grand
children, Joshua Higgs and Shania Robson;
two sisters, Gwenie Chilson and Emily Roberts;
three brothers-in-law, Jack Sweeting, Wayde
Sands and Eric Sturrup; three sisters-in-law,

Darnell Sturrup, Sylvia Higg

s and Rapunzel

Sturrup; many nieces and nephews and many
other relatives and special friends.

Funeral arrangements are being handled by
Pinders Funeral Home, Palmdale Avenue,
Palmdale. In lieu of flowers donations may be
made to Cancer Society of the Bahamas, P.O.

Box SS 6539.





projects.

The projects at issue in the
lawsuit include a pipeline from
Chad to Cameroon; oil and nat-
ural gas projects in Russia, Mex-
ico, Venezuela and Indonesia;
and a coal-fired power plant in
China. Since the lawsuit was
filed in 2002, several of the pro-
jects have gotten well under
way or have been completed.

The Bush administration had
argued last year that the
“alleged impacts of global cli-
mate change are too remote
and speculative” to require the
reviews.

But in allowing the lawsuit to
proceed, US District Judge Jef-
frey White on Friday cast doubt
on the administration’s asser-
tion that disagreements remain
about the connection between
human activity and climate
change. He also cited increased
attention on the issue in the
news and entertainment media,
including Gore’s documentary,
“An Inconvenient Truth.”

"It would be difficult for the
court to conclude that defen-
dants have created a genuine dis-
pute that (greenhouse gases) do
not contribute to global warm-

Share

your
news

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you are raising funds for a
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award.

If so, call us on 322-1986
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ing,” White wrote in his ruling.

The lawsuit names two agen-
cies — the Overseas Private
Investment Corp. and the
Export-Import Bank of the
United States — that insure bil-
lions of dollars of U.S. investors’
money for foreign projects,

including power plants that emit .

greenhouse gases such as car-
bon dioxide.

White accepted the plaintiffs’
argument the National Envi-
ronmental Policy Act, or
NEPA, can apply to the US-
backed projects overseas. The
law requires environmental
assessments of proposed domes-
tic projects. The administration
had argued that the agencies
were exempt from NEPA.

However, White said he did
not have enough information
to rule on the question of
whether the projects at issue
constitute a “major federal

action” that would significantly

affect the environment — an
important criteria for NEPA.

Plaintiffs, which include
Friends of the Earth and Green-
peace, as well as the city of
Boulder, Colorado, and the Cal-
ifornia cities of Oakland, Santa
Monica and Arcata, claim those
projects and dozens of others
received more than $32 billion
in financial assistance without
an evaluation of their global-
warming impacts at home.

Ronald Shems, an attorney
representing the plaintiffs, said
the lawsuit goes on in hopes
that it can set ground rules for
future overseas projects. If suc-
cessful, the lawsuit also would
promote transparency in
NEPA, he said.

Spokesmen for the two gov-
ernment agencies did not

respond to phone messages Sat- :

urday seeking comment.

Mark Bethel
HostSpeaker

Alvin Moss
Featured

bik pia jars:

TS


THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE’ 9



Bomb scare

FROM page one

during the second bomb scare appeared to be “hand-



Call for gay election candidates to declare sexuality

GAY election candidates should
declare their sexuality before seeking
the votes of the public, it was claimed
last night.

Clever Duncombe, who is contesting
the Golden Gates seat as an indepen-
dent, said voters had a right to know
where candidates stood on family and
social issues.

And sexuality, he said, often affect-
ed an MP’s stance on such matters.

The child’s rights advocate said since
gay sex was legalised in the Bahamas
16 years ago, there had been a “prolif-
eration” of homosexuals and lesbians.

While he had nothing against gays or
their lifestyle, he wondered whether
Bahamians were ready to elect them to

parliament.

He said voters had a right to know a
candidate’s sexual proclivities because
they so often influenced the way they
viewed important social and domestic
issues.

He said gay candidates ought to be
bold enough to declare their prefer-
ences. “If they are bold enough and
believe it, then why hide it?” he asked.

He criticised both Prime Minister
Perry Christie and Opposition leader
Hubert Ingraham for not taking a posi-
tion on this important question pub-
licly.

He said candidates should declare
their sexuality so that voters could take
this into account.

“T should not be reading the tabloids
to find out after I have voted for them
what their real position is on children’s
rights and other important social issues.

“But I ask questions that these hyp-
ocritical politicians only imagine in
their minds,” he said.

“I have no problems with people
who are gay, but I have a great prob-
lem with those who hide it and pre-
tend they are something else.”

Mr Duncombe is running against
former immigration minister Shane
Gibson and FNM candidate Don Saun-
ders for the Golden Gates seat in the
House of Assembly.

Ever since deciding to run, he has
been advocating live public debates

for all election candidates.

During campaigning, he had vehsed
a “big appetite” for live community
debates, with all candidates appearing
on the same podium “to discuss issues
that concern us.’

He said there were very important
social issues facing the Bahamas,
including the problem of under-age
mothers.

He expressed alarm at the numbers
of pre-pubescent girls falling pregnant
and said there had even been an
eight-year-old mother in the last few
years.

He said a child’s rights advocate like
him was needed because of the “bla-
tant neglect” of the nation’s children.

@ INDEPENDENT candidate Clever Duncombe said voters had a right to know where candidates stood on family and social issues. os

‘

Howard K Stern

FROM page one

missed or withdrawn, the party that has

Senators seek to ensure

made and crude.” According to Atlantis it was
“found by an employee in a linen carrier.”

Atlantis said that the area was isolated and the
police were called in.

“The device was removed and dismantled without
incident.”

It was further claimed that although the device
most likely could not have caused an explosion, it
may have caused a fire to break out on the resort’s
premises if it had not been detected.

However, sources close to the incident said it was
unlikely that any fire that resulted from the device
could have done serious damage to the resort or
threatened the safety of any of the guests.

Speaking with The Tribune yesterday, press liaison
ASP Walter Evans said that police have been alert-
ed about a number of bomb scares in the past week
— including one at the College of the Bahamas.

“You will get these kinds of things happening at a

brought the action has to cover the respon-
dent’s fees.

The justices of appeal essentially pointed
out that Stern had agreed in a lower court to
submit the child to a DNA test, submitted to
the DNA test, then subsequently chose to
challenge the judge’s ruling, though in fact
his only challenge was that the DNA test be
done by a different doctor. Justice Ganpats-
ingh said the court would make no comments
on the merit of the matter but found the appli-
cation inconsistent.

Stern is listed as the father on the infant’s
birth certificate, but photographer Larry Birk-
head, Smith's ex-boyfriend, claims he's the
child’s real dad.

The baby, whose full name is. Dannielynn
Hope Marshall Stern, could inherit millions
from the estate of Smith's late husband, J.

outstanding Bills debated

FROM page one

Defence Force Act, and the National Heroes
Act.

While well informed sources had claimed
over the weekend that the House was to be dis-
solved yesterday, this failed to occur, leaving
open the possibility that it may do so as early as
today.

Some sources say that the dissolution will not
be called for until all Bills passed by the House
have been passed in the Senate, while others
have indicated that it may happen despite cer-
tain Bills not yet having been debated.

On Sunday, deputy Opposition leader and

he was surprised at claims that parliament was.to
be dissolved yesterday, as he felt the Prime Min=
ister — whose prerogative it is to decide the
date upon which dissolution occurs — would
not wish to allow so many Bills SEL out:
standing to "fall away.’

Mr Symonette said Mr Christie would bea in

"political trouble" if he failed to allow certain
pieces of legislation, such as the Pensions Act, to
be passed into law.

Meanwhile, unregistered voters have been
encouraged to register as soon as possible. ‘All
voters registered up to a day before the House
is dissolved will be eligible to vote. ===!

Voter registration has now passed the 145, 000

lot at companies when an employee’s contractual
discussions have come to a standstill or at tertiary
educational facilities when it is the end of the semes-

ter,” he said.

Don Moss, a national bomb expert and director of
security at Atlantis, was said to be the individual
who examined and disposed of the suspicious device.

‘Police investigations into the matter are continu-

ing.

FROM page one

former playmate’s relationship
with Howard K Sfern.
Both affidavits were signed
and sworn on March 30, 2007.
During their tenure at Hori-
zon’s, Ms Alexis and Mrs Alex-
ie report that they worked from

8am to 10pm and from 10pm to’

8am respectively. The two for-
mer employees claim to have
intimate knowledge of the
workings of the home, who vis-
ited, the state of mind of Anna
Nicole and her health, her inter-
action with Mr Stern, and that
of the former minister of Immi-
gration.

However, the pair are in fear
for their safety. Ms Alexis, who
admits to working illegally at
the Horizon’s home for three

months said that she made that .

fact clear to the former minister

FROM page one

1995.

Howard Marshall II. Smith had been fight-
ing the Texas oil tycoon's family over his esti-
mated $500 million fortune since his death in

Dannielynn was born at Doctors Hospital,
Nassau, on September 7 last year, three days
before Anna Nicole’s 20-year-old son Daniel
died there. The paternity case is scheduled to

resume in the Supreme Court this afternoon.

Former nannies

in her signed affidavit. She
claims that the minister assured
her that once her documenta-
tion at the Ministry of Immi-
gration had been processed and
approved and subsequently
expired, he would have the per-
mit transferred into Anna
Nicole Smith’s name. Ms Alex-
is further claims that the work
‘permit was issued by the
Department of Immigration in
January 2007.

Speaking on behalf of her
clients, Ms Thompson said that
she is very concerned that
something might happen to
them as they are also poised to
testify in the upcoming Coro-
ner’s Inquest into the death of
Daniel Smith — Anna Nicole’s
son.

“There is much more of this
story to tell that needs to be
told. Some of the issues that
they raise, not much of it has
been released to the public,”
she said.

Ms Thompson said thaf! hér ’ 3

clients have information that
will shed light on where Anna
Nicole wished to bury her son,
Daniel, and her “reported” rela-
tionship with Howard K Stern.

Also, Ms Thompson said, her
clients have information on the
amount of prescription drugs
that were allegedly in the home,
and Ms Smith’s state of mind
shortly before her death.

A camera interview with the
women will air on Controversy
TV on Cable 12 at 10pm Thurs-
day, April 5.

Privy Council

fy a judgment debt awarded to Takitota, who
was unlawfully imprisoned for eight years.

Justice Thompson found that the failure of
the government to comply with a Court of Appeal
order to pay Atain Takitota $500,000 was "con-
tumacious and without any explanation."

The order is being considered a landmark one
as it is the first time in the history of The Bahamas
that a receiver has been appointed to collect gov-
~ ernment taxes to satisfy a debt owed to a judg-
ment creditor.

The judge empowered Camille Darville-
Gomez to collect income generated by the casinos
at Cable Beach and Paradise Island for the
account of the government up to the value of the
judgment debt; monies of the government held in
any accounts with the Royal Bank of Canada or
any other commercial bank doing business in
The Bahamas; any unpaid dividends owed by
any company in which the government has a
shareholding; and departure taxes due to the gov-
ernment which have been collected by any airline
company or travel agency doing business in The
Bahamas.

Earlier in 2006, the Court of Appeal awarded
Takitota $500,000 "for the loss of eight years and

two months" of his life.

Takitota came to the Bahamas on vacation in
August, 1992, from Osaka, Japan, according to
reports. He reportedly lost between $7,000 and
$8,000 gambling before realising that his luggage
containing his passport and money had been
stolen.

Police arrested him for alleged vagrancy, but

Mr Takitota was never charged.
' “We are saying that in the unique circumstances
of this case it is open to question whether the
ceiling that was placed on the award be removed
and increased,” said Damian Gomez, Takitota’s
attorney.

“Yesterday, Dame Joan Sawyer said the award
granted should have been much more.

“Tf I went by what my emotions told me it
would have been much more, but I try to be
unemotional,” she said.

Dame Joan Sawyer told the attorney for the
Crown: “You wouldn’t dare get up in this court
and object to us granting leave to go to the Privy
Council...because you would really be in trouble
with me.”

The Crown said it had no objections to the

FROM page one

ity of the Coroner’s Court into
question.

Mr Stern’s egal counsel

informed Chief Magistrate
Roger Gomez — who is presid-
ing over the inquest — that a
constitutional motion had been
filed with the Supreme Court
which questions the lack of pro-
visions in the Coroner’s Act to
provide for an impartial jury.
, However, the leading jurist
said yesterday that there is no
flaw in the Coroner’s Act, that
the flaw is in fact with “those
manning the legal system.”

“What should have happened
was to hold the inquest very
quickly, then you don’t have a
contaminated jury pool. If any-
thing gets out later you can’t
blame the press because it’s
their job to get the news out,
that’s why you must deal with
things quickly and speedily — so
the weakness is not in the Act.

“When you have this kind of
work to do, do it speedily and

?

f

application.

Jurist claims

correctly then you wouldn’t
have all these errors occurring,
it would have been over long
ago,” the jurist said.

During last week’s inquest
proceedings Magistrate Gomez
emphasised that the case of
Daniel’s death has received
immense world-wide media
coverage and cautioned the all-
female jury not to heed any
news reports, rumours, or gossip
they may hear about the case.

However, Mr Stern’s lawyers
are asking the Supreme Court
to revise the provisions of the
Coroner’s Act in such a way
which would allow for lawyers
to question potential jurors to
determine their impartiality.

The concerned jurist speaking
with The Tribune yesterday,
however, pointed out that the
“Supreme Court can only say
‘yes’ he (Chief Magistrate
Gomez) has the right (to ques-
tion jurors) or ‘no’ he does not

have the right.”

“The Supreme Court can’t
cure that, that can only be cured
by an act of parliament, parlia-
ment has to amend it (the Coro-
ner’s Act). Logistically, if par-
liament is going to amend a law
it does not affect the whole run-
ning of the Coroner’s Court, but
it does affect that particular
case, that case can’t move until
parliament has done that,” the
jurist said.

The jurist said that there is
no chance for such an amend-
ment to happen in the near
future as parliament is expected
to be dissolved any day now in
time for the general election.

“I think it will take a mini-
mum of a year. Maybe a new
government, whoever the gov-
ernment is, that can be a first
on their agenda, if that is urgent,
it may not be urgent,” the jurist
said.

The Supreme Court is expect-
ed to make some sort of ruling
on the application by Mr Stern’s
lawyers by Wednesday.

seer

candidate for St Anne's, Brent Symonette, said

FROM page one

Murphy’s probable suicide
raises questions surrounding
the length of time inmates are
left on remand without being
convicted of a crime. Accord-
ing to the prison’s time frame,
Murphy would have been on
remand for murder for nearly
two years since the end of his
sentence for causing a wound.

Human rights activist and
lawyer, Fred Smith, in com-
menting on the events, again,
raised questions about the
deplorable conditions in the
prison.

“We continue to decry, and

mark, the parliamentary registry department
confirmed recently. WA

Inmate found dead’

cry shame on the government,
for the appalling, inhuman and
degrading conditions at Fox
Hill Prison. This continued
abuse reflects a political men-
tality of not dealing with issues
of quality of life or substance
in the Bahamas,” he said.

Mr Smith further criticised
government’s management of
the prison system, suggesting
that the sub-human standard
of conditions in the prison per-
petuate the crime problems in
the country.

“We are creating rapist, and

robbers, and kidnappers and
murderers by the way we treat
those who are in the custody of
the state,” he said.

Mr Smith suggested that ‘the
current problem goes beyotid
politics. Rather, he argued that
the conditions in the prison
have been a blight and disgrace
on the nation for decades. And
he called on government-to
intervene and truly and sub-
stantively address the quality
of life issues in the prison that
lead to so much misery for so
many Bahamians.

THE ASSEMBLIES OF GOD
BIBLE COLLEGE
PH 393-3453

Evening Classes: 7p.m. - 9:45 p.m.
Weekend Classes: Fri 7 p.m. - 9:45 p.m.
and Sat 9 a.m. - 3:45 p.m.

(3 Weekends)

Mon 7:00 p.m.

Tues 7:00 p.m.

7:00 p.m.
Thurs 7:00 p.m.

7:00 p.m.

Epistles I (I & II Cor)

Basic English
Church History Il

Intro to Missions

Bible Origins

WEEKEND CLASS: Marriage Counseling I

Instructors:
U.S. Instructors:

April 20 - 21, May 11 -12, June 8-9

MA & CST Class:

To be announced.

Global University, USA Instructors


PAGE 10, TUESDAY, APRIL 3, 2007



TUESDAY EVENING

APRIL 3, 2007 |

“7:30 | 6:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30














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Enjoy Great Food, Prizes and Lots of Fun



= Movie Gift Certificates



THE TRIBUNE






Let Charlie the.
Bahamian Puppet and
his sidekick Derek put ay

some smiles on your ‘es

kids’s faces.

«




Bring your children to the |

Mctlappy Hour at McDonald's in

Malborough Street every Thursday

from 3:30pm to 4:30pm during the
month of April 2007.



?m lovin’ it



RSENS AL PTE D886 2 |e DELILE wd,

6.4.9.0 eRe S

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make great gifts!



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THE TRIBUNE

TUESDAY, APRIL 3, 2007, PAGE 1





‘
'
'
,

Your look at what’s going on in your community



FirstCaribbean shows support
for community associations







aw Atlantic Medical


















@ THE Road Runners Track
and Field Club held its annual
track and field invitational
meet recently and
FirstCaribbean International
Bank helped to make this a
reality by assisting in the
funding. Shown from left are:
Carolyn Roberts,
FirstCaribbean and coach
Dexter Bodie, president,
Road Runners Track and
Field Club.

@ THIS year world
scouting celebrates its
100th anniversary
under the theme “One
World One Promise”.
FirstCaribbean
International Bank has
assisted the Scouts
Association of the
Bahamas in sending 12
young people to the
World Scout
Jamboree in England
to join 40,000 plus
young people from
around the world.
Shown at the
presentation are:
Carolyn Roberts,
FirstCaribbean; John
Philpot and Brian
Christie, of the Scouts
Association.

Funwalk: partners: Atlantic Medical thsurance: The
the Bahamas: Diabetic: Association and clients and friends. in a good cause



@ FREEDOM Farm

Baseball League received a =:
donation from FirstCaribbean
International Bank to defray:
the costs of one of its teams — |
FirstCaribbean Binghampton
Mets. Shown at the iS
presentation are: Pat Moss, _
Freedom Farm; Carolyn
Roberts, FirstCaribbean and:
Andrew Thompson, Freedom
Farm.

21

B AS the next season of the . :
Junior Baseball League of —
Nassau fast approaches,
FirstCaribbean International:
Bank has assisted the league
in defraying costs of its
sponsored team the '
FirstCaribbean Twins. From
left in the photo are Carolyn ;
Roberts, FirstCaribbean and
Coach Jerry Stubbs, Junior ; '
Baseball League of Nassau. ~

(Photo: TCL/Wendell
Cleare),

_
at

Atlantic Medical is hosting its ninth Annuaj Fun Walk on Saturday 21st April 2007 at 6.00 am at the Montagu Beach 3

Foreshore. Funds for the Walk will once again be donated to The Cancer Society of The Bahamas and The Bahamas

back to Montagu Beach.

(Male and Female awards)

Diabetic Association. Your efforts in 2006 helped raise $40,000. Thank you.

THE EVENT BEGINS AT 6.00 A.M.

TROPHIES ARE AWARDED ACCORDING TO THE FOLLOWING CATEGORIES:

A.l5 and Under B.16-25 C.26-35 D36-45 E. 46-59 F 60 and Over

THE ROUTE commences from MONTAGU BEACH then WEST on Shirley Street, NORTH on Church Street, OUTWARD across “New Paradise
Island Bridge” to the round-about at Paradise Island Golf Course, BACK to New Providence via the “Old Paradise Bridge”, EAST on East Bay Street and

ee ew a en a a a a a a a a a a a a a a a ew ee ee ee ee eee ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee eee ee eee eee ee ee ee ee ee ee ee ee ee ee ee ee ewe

Official registration TOT sunwatesdantichouse.combs

Atlantic Medical is not liable for injuries incurred by participants at this event.

$15.00 Adults / $12.00 Children: includes “‘T-shirt& gift pack’

Deliver to Atlantic Medical Insurance, Atlantic House 2nd Terrace & Collins Avenue PO BOX SS
5915 Nassau Tel. (242) 326-8191 For additional entries, duplicate form.

COMPANY/ORGANIZATIONS ocssscsssssssssscsssssssssssssssssssessssssssscsssscssssessussssssssssesssssesnessssesanseseese



SeeWeliness

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RACE CATEGORY: (circle choice) A B Cc

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ATLANTIC MEDICAL INSURANCE COLLTD.
Atlantic House, 2nd Terrace & Collins Avenue, Nassau, Bahamas Tel.326-8191
www.cgigroup.bm_ e: atlanticmedical@atlantichouse.com.bs

5 Jasmine Corporate Center, East Sunrise Highway, Freeport, Bahamas Tel. 351-3960

A member of Colonial Group International Ltd.
Personal & Business Insurance:Group Pensions:Group Medical:Life Assurance & Investments

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—
PAGE 12, TUESDAY, APRIL 3, 2007 “THE TRIBUNE



School fields both piano winners








|



Size

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@ NATIONAL Arts Festival Winners — Daniel Jennings of Lyford Cay School (seated) and
Bernard Farquharson of Tamberley School (standing) placed first and second respectively in the...
National Arts Festival Piano Division in New Providence. The two students were adjudicated in .*'
the Solo Piano Category, ages nine to 12. Both winners are pupils of Rosalie Fawkes.



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Discount Coupon to pure



c Ei

@ BANCA del Gottardo will celebrate its 50th year anniversary on April 4, under the theme “50 «'
years — looking forward”. A group celebration will be held at the bank’s head office in Lugano, ~,
Switzerland on June 1 and local management are sending five of its longstanding employees to join
the Swiss event. Banca del Gottardo Nassau Branch and the affiliate Gottardo. Trust Company Ltd’
will also hold an event in Nassau in November. Pictured below, from left to right, are: Christopher
Benson, treasury officer (20 years with the bank), Vernita Sweeting, messenger (31 years), Ruby “«
Kerr, human resources manager (22 years), Fabrizio Tuletta, head of branch, Candace Russell, ~"
administrator (32 years), Patricia Mackey, head of accounting and payments (32 years).



Ragged Island
and Rum Cay



oy]

Connection at Your Fingertips

*E:BlackBerry.





eco” \ talking Por

Long Island





If you see this person TODAY, : __ For more information
please wish LBC a very — | MM \iwwatssanames.com of
| Happy Birthday. :




TUESDAY, APRIL 3, 2007





SECTION

business@tribunemedia.net

fe Cos Be the

BUSINESS

Miami Herald Business, Stocks, Analysis, Wall Street







2a

HELPING YOU CREATE AND MANAGE WEALTH

Tel: (242) 356-7764

_ FREEPORT OFFICE
Tel: (242) 351-3010




NASSAU OFFICE






‘Self-sustaining’ BISX
_ step closer to reality

Government receives Central Bank and Bahamas International Securities Exchange initial recommendations on public sector debt market
* Minister says move will create opportunity for derivative creation, better asset-matching and ‘broaden and deepen’ capital markets

@ By NEIL HARTNELL
Tribune Business Editor

he Government

said yesterday it

had received the

“initial thoughts”

of the Central
Bank of the Bahamas and
Bahamas International Securi-
ties Exchange (BISX) on how
the public sector debt market’s
transer to the exchange could
be structured and implement-
ed, a development that would
allow it to become a “self-sus-
taining operation”.

James Smith, minister of state
for finance, told The Tribune
that the process of creating a
formalised market for govern-

ment paper/debt securities was
‘‘a rather involved process”, and
its transfer to a platform on
BISX “certainly won’t be a big
bang; it'll be done gradually”.
Adding that discussions had
been taking place between the
Central Bank and BISX on the
subject, Mr ‘Smith said:
“They've transmitted their ini-
tial thoughts on how it should

‘be done, and are now waiting

for a response from us. It’s at a
very early stage.”

The minister said it was “hard
to tell” when the government
debt securities market would be
transferred to BISX, explaining
that the Government, exchange
and Central Bank wanted to
avoid creating any ‘shocks to

Coalition calls for
public release of
NHI economic study

@ By NEIL HARTNELL
Tribune Business Editor

THE National Coalition for
Health Care Reform has called
upon the Government to
release the completed econom-
ic impact study on its proposed
National Health Insurance
(NHI) scheme to the Bahamian
people, arguing that this should
have been completed before
Parliament passed the enabling
_ legislation that will allow the

plan to be introduced.

Winston Rolle, a former
Chamber of Commerce presi-
dent and Coalition representa-
tive, told The Tribune that it
was important the study by US-
based consultants, DAH Con-
sulting, be published so that
there was no release of partial
information by the Government
to bolster its case for the NHI
scheme.

This had happened with the
International Labour Organi-
sation (ILO) report on the NHI
scheme, where a study of the
' document showed that the Gov-
ernment had ‘cherry-picked’ the
bits of information that best
backed its arguments, ignoring

the concerns raised elsewhere
by the ILO.

Members of the Coalition,
including representatives of the
Bahamas Hotel Association,
Bahamas Hotel Employers
Association, Bahamas Employ-
ers Confederation, Chamber of
Commerce, Bahamas Motor
Dealers Association and Nas-
sau Institute, last week attended
a meeting with DAH Consult-
ing on its proposed economic
study.

“From our perspective, this
should have been completed
before we got to this stage, but
we were meeting with them last
week,” Mr Rolle said.

Although he was not at the
meeting, Mr Rolle said that
apart from the economic study
consultations, there had been
no further communication
between the Government and
the Coalition on NHI.

“The economic impact study
is significant because we have
to have some fact-based infor-
mation on how NHI’s going to
impact the economy; how it’s

SEE page 7B

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the system’ that might disrupt
the market.

Mr Smith also pointed out
that much remained to be done
before BISX and its central
securities depository (CFD)
provided straight-through pro-
cessing for public debt securi-
ties such as government-regis-
tered stock (BGRS) and Trea-
sury Bills, handling the process
from the initial public offering
(IPO) through to buying, sell-
ing, clearing and settlement of
trades.

BISX needed to implement
the technology platform needed
to make it happen, the minis-



government debt issues - had
to assess its own practices and
develop guidelines on how the
new market would work.

In addition, the Central Bank
needed to determine whether
legislative changes needed to
happen to enable the market’s
transfer to BISX, or whether
this could be taken care of via
policy changes. If legislative
changes were required, these
first had to be decided by the
Government, drafted by the
Attorney General’s Office,
approved by the Cabinet and
then passed by Parliament
before anything happened.

ter said, while the Central Bank B JAMES SMITH Separating “the technical
- which currently acts as the reg- details from the legislative
istrar and transfer agent for all (FILE photo) details”, and with a general elec-

tion imminent, Mr Smith said:
“T really can’t see anything con-
crete happening till maybe the
third quarter. ee

“It could be an involved
process. I think there’s also a
need to kind of analyse the
effect on the holders of govern-
ment paper now, and how this
would affect them in the
future.”

The major holders of govern-
ment-registered stock (BGRS)
are the National Insurance

‘Board (NIB), Bahamian com-
’ mercial banks, pensions funds,

brokerage houses, businesses

_and individuals.

_ SEE page 5B

Government is urged to privatise farm land —

@ By NEIL HARTNELL
Tribune Business Editor

“THE Government has been encouraged
to privatise its holdings of farm land, a
report finding that land ownership is “the
single greatest impediment” to the devel-
opment of a Bahamian agriculture industry
that could supply both this nation’s popu-
lation and its main industries such as
tourism.

The Inter-American Defence College’s

2007 country report on the Bahamas report- ~

ed that only 8 per cent of the available
arable/farming land in the Bahamas was
under cultivation, despite the Ministry of

. Agriculture and Fisheries placing some

36,148 acres up for lease.
The report said that for the Bahamian



ol

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Bahamas in danger of being ‘held hostage to the petroleum market’

economy to keep growing, and the Gov-
ernment to successfully diversify it and
reduce its reliance on the US, four things
needed to be accomplished.

“The first would be to privatise its [the
Government’s] arable land holdings,” the
study said. “All of the efforts to date by
the Government to encourage greater agri-
cultural growth for both export and internal
consumption have made only modest
improvements. —

“The single greatest impediment to such |

growth is the inability for agricultural entre-

preneurs to own the actual land. Such pri- .

vatisation would greatly encourage the
growth cf agriculture.

for



“As the tourism and financial sectors
have boomed, agriculture and fisheries has
fallen to 2.8 per cent of GDP.”

The study added that 90 per cent of prime
agricultural land in the Bahamas was owned
by the Government, and that under the
Ministry of Agriculture Act 1993 this could
be leased to farmers for. up to 42 years.

Farming and fisheries employed 4 per
cent of the Bahamian workforce, and
accounted for 30.2 per cent - almost one
third - of this nation’s $523 million worth of
merchandise exports per annum. The most

SEE page 8B ‘




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PAGE 28, IUESDAY, APRIL 3, 2007 TETIBUNE
Doing more than the ‘minimum’ on equality.

»
a

-

e674
"oe at *

ast week, I was party
to a conversation
etween several busi-

nesspersons that centred on the
fact that it was extremely diffi-
cult to find suitable candidates
to fill entry-level positions in
the workforce. What was even
more telling was that while
there was no shortage of appli-
cants for a given job vacancy,
the common complaints were: a
profound lack of skills, bad atti-

tudes and a detachment
between skills possessed and
salary expectations.

As the conversation pro-
gressed, the consensus was that
many young Bahamians who
are in the workforce may be
earning less than the official
minimum wage. A reason why a
person would take an entry-lev-
el job below minimum wage
may be to get some money
coming in, while looking to find

something more attractive or
better paying later on. Perhaps
this explains, in part, why pro-
ductivity may be so low, as peo-
ple are looking for a ‘salary’
rather than a ‘job’.

Minimum Wages

This consensus piqued my
curiosity, as the Bahamas
passed the Minimum Wages
Act in 2001. It came into force








THE BAHAMAS
LAND USE, POLICY AND ADMINISTRATION PROJECT



CONSULTING SERVICES - GIS
LOAN # 1589/OC-BH















The Government of The Bahamas, through The Office of The Prime Minister (OPM),
has received a loan from the Inter-American Development Bank for the implementation
of a Land Use Policy and Administration Project (LUPAP).

OPM requires one (1) GIS Technician for services in the area of Geographic Information
Systems (GIS):

The GIS Technician will be responsible for collecting geographic data using
Global Positioning Systems, performing spatial analysis using ArcGIS, digitizing and
scanning maps, developing databases and producing maps in support of the development
of Geographical Profiles (GPs) of three Bahama Islands. The work will be performed
in The Bahamas (Nassau and other locations/islands in the Country).

Individual Consultants interested in providing services on the activity listed above should
respond to this Notice by sending a letter of interest and a Resume-prior to 4" April 2007
by email to the address below:

VANBERT PRATT

Administrative Assistant
Land Use, Policy and Administration Project
Office of The Prime Minister
Cecil Wallace Whitfield Building
P.O.Box CB-10980
Nassau, Bahamas
Tel; (242)327-5826
Fax: (242)-327-5806
vanbertpratt@bahamas.gov.bs











Ms. Karen Isaacs Ms. Shantell Butler-Lockhart,

: are ho longer employed at British American
Financial and are not authorized to conduct any
business on behalf of the Company

For further information please
cali our Rosetta Street office
| at 322-1801-2

British
Lk American

in & MEO AL

242-461-1000 | www.babfinancial.com

Freeport 242-382-7209 Exema 242-536-3635 Abaco 242-387-5661



on January 21, 2002. According
to the Act:

The minimum wage shall be
fixed as follows:

1. If the employee is employed
by the week, the minimum wage
shall be $150 per week.

2. If the employee is employed
by the day, the minimum wage
shall be $30 per day.

Financial

Focus



times) to include all workers.
Today, the International
Labour Organisation (ILO)
reports that 90 per cet of the
countries worldwide have min-

the economy many jobs, as the
higher costs discourage invest-
ment.

* Abolishing the minimum
wage allows businesses to
become more efficient and low-
er prices.

e
&

af

* Minimum wages can drive

some small companies out of

business.
* Minimum wages give com-

petitive advantages to ‘low .:

wage’ countries, thus sending

3. If the employee is employed imum wage legislation in place. jobs abroad. anit
by the hour, the minimum wage | The minimum wage in countries i
shall be $4 per hour: that rank on the lowest ‘20 per Conclusion “F

Therefore, according to the
Act, all full-time employees
working 37.5 hours per week
should be making at least $160
per week, before deductions.
The Act also set penalties for
those employers paying less
than the statutory minimum
wage of a fine of $5,000 plus the
difference due to the employ-
ee, upon conviction.

It is interesting to note that as °

of July 1, 2000, the Government
took a policy decision to peg
the minimum wage for govern-
ment workers at $4.45 per hour
or some 11.25 per cent higher
than that dictated by law. This,
in part, is probably one of the
reasons why unskilled workers
seem to covet government jobs.

When you couple this with
the fact that a government job is
virtually a guaranteed job for
life (irrespective of performance
and. in many cases, regular
attendance), and that ‘salary
deduction’ credit is widely avail-
able (without any sort of pre-
qualification whatsoever) for
every conceivable consumer
item, it is not difficult to under-
stand the attractiveness of gov-
ernment jobs. Who gives gov-
ernment jobs? ‘This is the per-
ceived role of the Member of
Parliament, hence their lofty
status among certain segments
ot the population.

History of the
Minimum Wage

In 1896. Australia and New
Zealand enacted legislation in-
tially establishing a minimum
wage for certain industries. Just
after the turn of the century, it
was expanded (at different

cent of the pay scale is less than
$2 per day, while the minimum
wage in countries that repre-
sent the highest 20 per cent of
pay scales is about $40 per day.

According to the Economic
Policy Institute: “Most indus-
trialised countries have laws set-
ting a minimum wage, but these
vary greatly by (amount), who is
covered and how strictly the law
is enforced. In some countries,
the minimum wage is not uni-
versal for the whole country,
but varies according to the
industrial sector or the work-
er’s age and gender.”

The arguments for and
against minimum wages vary
greatly, and are the subject of
millions of pages of vigorous
and scholarly debate. In an
attempt to confine this column
to a reasonable length, I will
summarise some of the more
common points often advanced.

Arguments for a
minimum wage

* It helps in reducing poverty
and reducing pay differentials
between genders.

* It prevents employers from -

exploiting new workers and
migrants.

* Adults who currently work
for a minimum wage would be
displaced by teenagers and
migrants who would work for
much less.

* Workers need a minimum
amount of income to have an
acceptable standard of living.

Argument against
a minimum wage

* Many economists believe
that minimum wage laws cost

While a great debate rages --
globally about the imposition ’
of minimum wages, and”:
whether or not they are good
for an economy, I do believe
that a society should have sen-
sible and affordable ‘safety-nets’
for the less fortunate. If a soci- + °-
ety does not provide such safe-
ty-nets, then we will invariably
pay the price in other ways.

The reality is that no society *
has yet been successful in truly
creating equal opportunities ina .
universal sense. Our challenge, *
therefore, is to continuously
strive to improve the country’s
educational and training infra-
structure, and through sound ,
economic policies provide » +.
opportunities for sustainable job *- ’
creation. Then, finally, we must
work to raise national produc- — »'
tivity levels, which allow”.
investors to earn a fair return » -
on their investment, thus
encouraging them to make fur-
ther investment. - ts

Until next week... ny,

« &

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

The views expressed are those»...
of the author and do not neces-
sarily represent those of Colo- .
nial Group International or _:
any of its subsidiary and/or
affiliated companies. Please -
direct any questions or com- :
ments to rlgibson@atlantic-..-
house.com.bs ia

a i

&

—

Betty K Agencies

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BUSINESS

Che Miami Herald

‘THE MARKETS
STOCKS, MUTUAL FUNDS, 8B

‘DOW30 —-12,382.30 +27.95 AN
sapso0 = «(24.55 43.69 AM
NASDAQ 2,422.26» +0.62 Ab
10-YR NOTE 464. -01W
CRUDEOIL $65.94 —-+.07 AR

Takeover
deals help
“stocks —

post gain

_ BY JOE BEL BRUNO
é Associated Press
NEW YORK — Wall Street
managed a moderate advance
Monday as a spate of takeover
eals gave investors enough
confidence to buy into the mar-
- ket despite a report showing —
- that U.S. manufacturing is more
sluggish than expected. _
_ Investors drew support from
acquisitions announced
sfore trading began, including ©
deals to take credit card trans-
rocessor First Data and















But gains were limited by the
nstitute for Supply Manage-
t’s manufacturing index, —

projected in March. The ©
moved to a reading of 50.9 |
\onth, compared to an
xpected reading of SLO.

Also, putting pressure on
echnology stocks, the Semicon-

_ ductor Industry Association -



_ said total chip sales in February _
_ fell to $20.09 billion from $2148 _






n January due to seasonal
weakness, lower manufacturing...
capacity and price cuts.

iC Ee finished the fine quar-






: President William Poole said i
a speech to bankers in New
_ York that inflation is still a —
5 “major concern.” He said infla-
_+ tion levels could require more ©
: rate hikes, and that a U.S. reces-
sion remains conceivable.
The Dow rose 27.95, or 0.23

_ percent, to 12,382.30. The
benchmark index is now 404
points below its record close —

5 feagied Feb. 20. ‘ 5
_ Broader stock indicators also
rose slightly. The Standard &
- Poor’s 500 index rose 3.69, or
0.26 percent, to 1,424.55, and the
Nasdag composite index edged
‘up 0.62, or 0.03 percent, to
2,422.26.

' Bonds moved lower after the

ISM report showed slower
growth amid accelerating price

_ pressures. The yield on the
benchmark. 10-year Treasury
note rose to 4.64 percent from
4.63 percent at Friday’s close.

- The dollar was mixed against
other major currencies, while
gold prices rose.

_ Oil prices advanced slightly
as investors speculated about

_ how tensions between Iran and

_. Britain could interrupt supply

~ from the Middle East. A barrel
of light sweet crude rose 7 cents

__ to, $65.94 on the New York Mer-

os cantile Exchange.
~ Arthur Hogan, chief market

analyst at Jefferies & Co., said

__ oil has been one concern weigh-

- ing on markets. He believes the

' market continues to look for

--some kind of economic direc-

: oe while also reacting to cor-

news.

__. “That’s the battle we're going -

to have — are we starting the

_ quarter with good company

- hews or will we continue to be

- concerned about an economic

_ slowdown?” he said. “That’s the

nt.”

The Russell 2000 index of

smaller companies gained 2.51,
_ or 0.31 percent, at 803.22.

Overseas, Japan’s Nikkei
stock average closed down 1.50
percent. Britain’s FTSE 100 rose
0.12 percent, Germany’s DAX
index rose 0.29 percent, and
France’s CAC-40 rose 0.20 per-
cent.



at

METS ‘



proenctae Tribune ZS

slipped more than econo- ~

‘Wall Street has traded ae |



ver - — with the Dow Jones _









BY ASHLEY M. HEHER .
Associated Press

CHICAGO — Real estate
mogul Sam Zell won the battle of
the billionaires Monday, landing
media conglomerate Tribune Co.
after a down-to-the-wire bidding
war.

Even with the buyout’s $8.2 bil-
lion price tag, the outlook for the
nation’s second-largest newspaper
publisher remained as uncertain as
it did six months ago when it
began a strategic review to boost a
lagging stock price.

A big chunk of new debt also
will be required to pay the $34 a



THE TRIBUNE CO. ACCEPTS AN $8.2B BUYOUT
OFFER FROM REAL ESTATE MOGUL SAM ZELL,
WHO PLANS TO SELL THE CHICAGO CUBS

likely, especially as Zell learns the



success remains to be seen,” said
Rich Hanley, a journalism profes-
sor at Connecticut’s Quinnipiac
University. “This is unlike any
other business he’s touched. ...
The stakes are very high.”

Tribune Chief Executive Dennis
FitzSimons told The Associated
Press that there are’no plans to cut
the company’s work force or sell
off other newspapers or TV sta-
tions.

“This is a good outcome for our
shareholders and a good outcome
for our employees,” FitzSimons
said in the interview.

But industry observers said
more divestitures or spinoffs are

ropes of the newspaper business

PHOTOS BY E. JASON WAMBSGANS/CHICAGO TRIBUNE

COMPANY SOLD: For months workers for the Tribune company - some are seen above in the
Chicago Tribune’s newsroom - worried about their future. Monday, real estate investor Sam Zell
agreed to buy out the company. The Chicago Tribune is housed in the Tribune Tower, below.

SOLD

FOR $8.2B

So RAR EN AS SOR EO





i
H

share cash buyout.

Zell is counting on repaying the
debt largely through tax benefits
from a new employee stock option
plan that would supplement exist-
ing retirement accounts for the
company’s 20,000 workers.

Aside from selling the Chicago
Cubs baseball team and its stake in
Comcast SportsNet, Zell and Tri-
bune executives were mum about
prospects for the rest of the com-
pany’s assets, including 23 televi-
sion stations and nine newspapers
ranging in size from the Los Ange-
les Times and the Chicago Tribune
to the Daily Press in Newport
News, Va., that will remain after
two papers in Connecticut are
sold.

“Whether someone hore
experience is in commercial real
estate — in steel and cement and

and a company that has been los-
ing readers and advertisers to the
Internet.

Zell plans to invest $315 million
in the media company and will
eventually become chairman of
Tribune’s board when the buyout
is complete sometime in the fourth
quarter. The offer needs share-
holder approval.

Tribune said Zell will use an
employee stock ownership plan to
finance part of the deal and lower
the taxes on any sale. The ESOP,
which resembles a profit-sharing
plan, will become the majority
owner of Tribune once the deal is
complete. Zell will be entitled to
buy 40 percent of the company’s
common stock.

“J am delighted to be associated
with Tribune Company, which I
believe is a world-class publishing
and broadcasting enterprise,” Zell

term investor, I look forward to
partnering with the management
and employees as we build on the
great heritage of Tribune Com-
pany.”

Analysts have estimated that
the Cubs could fetch $600 million
or more. Tribune bought the team
in 1981 for $20.5 million.

Its strength as a sports franchise
— and the lure of potentially
steering them to their first champi-
onship in a century — has
attracted the interest of many
potential buyers.

Billionaire entrepreneur Mark

Cuban, actor Bill Murray and col-

‘umnist George Will are among
those rumored to have interest, ’

along with numerous Chicago
business figures. .

Tribune shares climbed
70 cents, or 2.2 percent, to close at
$32.81 in trading on the New York

snilieeeeieeainaiameme nomial
«aie Leet ae Sell

bricks and leases — can navigate
the e ppeay, media structure for



LENDING

said in a statement. “As a long-

Stock Exchange.



INTERNATIONAL EDITION

ASIA

S. Korea,
U.S. reach
‘historic’
trade pact

i Following days of talks, the
United States and South Korea
reached a free trade agreement
both sides hope will bolster
bilateral ties and help forthcoming
global trade talks.

BY KELLY OLSEN
Associated Press

SEOUL, South Korea — The United
States reached its biggest free trade
agreement since NAFTA on Monday,
clinching a last-minute deal with close
security ally South Korea that it hopes
will bolster bilateral ties and provide
added spark to the Doha Round of
global trade talks.

“The free trade agreement we are
announcing today is a historic accom-_
plishment,” Deputy U.S. Trade Repre- -
sentative Karan Bhatia told reporters
after eight grueling days of talks. “It is
an agreement for the 21st century.”

The deal, which requires approval in
both countries, is the biggest for Wash-
ington since the North American Free
Trade Agreement signed in 1993, and is
expected to lead to more than 90 per-
cent of U.S. exports to South Korea
being duty free within three years.

In Washington, two key senators
warned though that the agreement will
not win congressional approval unless
South Korea drops a ban on the import
of U.S. beef that it imposed in December
2003 after the first reported U.S. case of
mad cow disease. Negotiators were

unable to resolve the issue as part of the. _ ia

free trade talks.

While many business groups from
high-tech to music voiced support for
the deal, auto executives at Ford and
Daimler Chrysler’s U.S. unit Chrysler
said they would urge rejection because
negotiators failed to do enough to lift
Korea’s high barriers to U.S.-made cars.

It is the biggest trade deal ever for
South Korea, which in 50 years has
grown from one of the world’s poorest .
countries to its 10th-largest economy.

“We cannot become an advanced
country without challenging ourselves,”
President Roh Moo-hyun said, address-
ing the concerns of many who felt South
Korea cannot compete against an econ-
omy 15 times bigger.

President Bush, who phoned Roh last
week to reconfirm their commitment to
help push through a deal as negotiators
were stuck on contentious issues such
as auto trade, said the deal went beyond
economics.

“The agreement will also further
enhance the strong United States-Korea
partnership, which has served as a force
for stability and prosperity in Asia,”
Bush said of Washington’s first free
trade deal in Northeast Asia, which also
includes powerhouse economies Japan
and China.

South Korea and the U.S. agreed to
eliminate and lower tariffs and other
trade barriers in a wide range of indus-
trial goods and services, including auto-
mobiles, agricultural products and
financial services.

Mai or ae ees lender files for bankruptcy

@ New Century Financial, once a
major provider of mortgages to
high-risk borrowers, filed for

bankruptcy protection Monday.

BY GARY GENTILE
Associated Press

LOS ANGELES — Subprime
lender New Century Financial Corp.,
once the nation’s second-largest pro-
vider of mortgages to high-risk bor-
rowers, filed Monday for bankruptcy
protection and immediately fired
3,200 workers, or 54 percent of its
workforce.

The company said it intends to sell
off its major assets.

“The Chapter ll process provides
the best means for selling our servic-
ing and loan origination operations to
financially sound parties,” President
and Chief Executive Brad A. Morrice
said in a statement.

“It is our hope that potential buy-
ers will be in a stronger position than
we are to employ many of our associ-
ates on an ongoing basis,” he said.

New Century made the move after
exploring a variety of possible ways

toni



wine.



LENNY IGNELZI/AP
THOUSANDS FIRED: New Century,
headquartered in Irvine, Calif.,
fired 3,200 workers after filing
for bankruptcy protection.

to stay in business, he said.

New Century is the latest sub-
prime lender to fall on hard times
amid a spike in mortgage defaults



caused by borrowers unable to make
payments.

Subprime loans target borrowers
with low credit scores. The mort-
gages carry relatively high interest
rates but can also offer low initial
payments.

More than two dozen subprime
lenders have shut down in recent
months and others are scrambling to
stay in business.

New Century said it had agreed to
sell its loan servicing business to Car-
rington Capital Management and its
affiliate for $139 million, subject to
the approval of the bankruptcy court.

CIT Group and Greenwich Capital
Financial Products have agreed to
provide up to $150 million in working
capital to facilitate the reorganization
process, the company said.

New Century has also agreed to
sell certain loans and residual inter-
est in some trusts to Greenwich Capi-
tal for $50 million.

New Century, based in Irvine,
Calif., filed for Chapter ll protection
in U.S. Bankruptcy Court for the Dis-
trict of Delaware. The move had been

expected for several weeks.

“This was a very hard step for me
personally and clearly not the out-
come I would have preferred,” Mor-
rice said.

Like other subprime lenders, New
Century profited during the real
estate boom, when appreciation rates
soared and equity protected most
homebuyers from defaulting on their
loans.

Most could simply refinance or
sell homes at a big enough profit to
pay off mortgages and move on.

Investment banks also jumped in,
eager to buy loans from subprime
lenders, then slice them up into bond
products to sell on Wall Street.

That helped New Century stock
hit its historic high of $65.95 in
December 2004. Its loan production
for 2005 hit a record $56.1 billion.

On Feb. 7, however, New Century
informed the Securities and
Exchange Commission that it would
have to restate results for the first
three quarters of 2006. The company
said it had failed to accurately tally
losses from loan repurchases.

ES aa 0s
THE MIAMI HERALD | MiamiHerald.com __



e ITALY

_BUSINESS BRIEFS |





Pirelli, Telecom Italia
shares up on AT&T talks

From Herald Wire Services

Italian officials defended their desire to keep Telecom |
Italia (TIAJF) in Italian hands Monday after the controlling
shareholder announced it was in talks to sell a majority stake
to U.S. telecom giant AT&T (T) and its Mexican affiliate.

Tire-to-telecom group Pirelli said it is in exclusive talks
with AT&T and its Mexican affiliate América Movil (AMX)
to sell two-thirds of the holding company, which controls
Telecom Italia. The proposal expires April 30.

The proposed deal could prompt the Italian government to
intervene following a public spat last year that led to the res-
ignation of former Telecom Chairman Marco Tronchetti

' Provera. Provera is also Pirelli’s chairman.

e CRUISE INDUSTRY

ROYAL CARIBBEAN
ORDERS LARGE SHIP

Royal Caribbean
Cruises (RCL) said it
ordered a second 220,000-
gross ton ship at the cost of
about $1.4 billion, which
_ would give the company the
world’s two largest cruise
ships by 2010.

The ship, part of the
Royal Caribbean Interna-
tional brand’s “Project Gen-

esis,” will hold 5,400 passen-:

gers, the Miami-based
company said.

The ship will be built at
Aker Yards in Finland and
will become the 24th vessel
in the Royal Caribbean
International fleet when
delivered by the projected
date of August 2010.

e MILITARY DONATION

TO HONOR WOUNDED
SON, IBM OFFERS $45M

To honor an employee’s
son who was badly
wounded in Iraq, IBM (IBM)
plans to give the U.S. mili-
tary $45 million worth of
Arabic-English translation
technology that the Penta-
gon had been testing for
possible purchase.

The offer — made from
the highest reaches of the
company directly to Presi-
dent Bush — is so unusual
that Defense Department
and IBM lawyers have been

- scouring federal laws to
make sure the government
can accept the donation.

Preparing to raid a house,
Army Sgt. Mark Ecker Jr.’s
unit lined up along a side of
the building. But an explo-
sive device hidden in the
wall went off, it wounded
several soldiers. Ecker lost
both legs below the knee.

e MERGER

AIRTRAN SWEETENS
OFFER FOR MIDWEST

AirTran Holdings
(AAI), a low-fare carrier,
increased its hostile take-
over offer for Midwest Air
Group (MEH) a second
time, sweetening the bid by
. 1B percent to $389 million.
Midwest shares rose the
most since December.

The new cash-and-stock
offer is $15 a share compared
with $13.25, AirTran said.

Midwest shareholders
have until May 16 to tender
shares, AirTran said.

AirTran’s new offer con-
sists of $9 in cash and 0.5842
of an AirTran share for each
share of Midwest (MEH).

LATE TRADING

‘ated Transit Union rejected

--~ said. The union represents

ANTONIO CALANNI/AP
TRADING: Pirelli shares closed up 9.4 percent at $1.20,
while Telecom Italia shares closed up 9.5 percent at
$3.13 on the Milan stock exchange.

e CONTRACT

GREYHOUND DRIVERS
REJECT PROPOSAL

Drivers and other
employees at Greyhound
Lines rejected a company
contract proposal, leaving
two weeks before their cur-
rent contract with the bus
operator runs out, the com-
pany said Monday.

Greyhound had called the
proposal its final offer. But
Local 1700 of the Amalgam-

the offer by more than a
3-to-1 margin, union officials

3,300 Greyhound workers,
including 3,000 drivers and
about half the company’s
mechanics.

Union leaders had unani-
mously recommended a
“no” vote. The union said
77.4 percent of voters
opposed the contract, which
called for a 2 percent
increase in wages.



e DAIMLERCHRYSLER i

AUTOMAKER TO PAY
$1.2M TO SETTLE SUIT

DaimlerChrysler (DCX) |
has agreed to paya$L2mil- |
lion fine to settle allegations
that it did not promptly alert
the government about emis-
sions problems in some
Mercedes automobiles.

As part of an agreement
with the Justice Department
filed in federal court Sun-
day, the automaker agreed
to institute a new program
to monitor its cars for emis-
sion defects and said it
would file regular reports to
the government.

The lawsuit involved
emission-related defects in
certain 1998-2006 Mercedes
vehicles. The Justice
Department said Mercedes
didn’t tell the EPA within 15
days of learning about a
series of problems with air-
flow sensors, catalytic con-
verters, air pumps and other
parts.

e JAPAN

MANUFACTURERS’
CONFIDENCE SLIPS

Confidence among Japa-
nese manufacturers slipped
in March for the first time in
a year, according to a close-
ly-watched Bank of Japan
survey released Monday.

But on a positive note,
the quarterly “tankan” sur-
vey, which polls more than
10,000 companies, showed |
that large businesses plan to
boost investment in the year
ahead.





VerizonCm

4 6:35 p.m.

CapOne ‘OF 73.57 73.57 . 204442
AT&Tinc §=T 39.46 39.46 120359
Microsoft MSFT . 27.74 27.74 45013
SunMicro SUNW 5.80 5.80 36675
iShR2Knya IWM 79.75 79.75 34753
Citiorp c 51.05 51.05 26312

BMY 27.88 27.88 24176
Genbieg GE 35.29 35.29 23600
ExxonMbl =X0M 76.16 76.16 21985
Nasdi00Tr QQQQ 43.59 43.59 20730

WZ

SYMC

SPY

Late
volume Stock Tk.

tee “Cine” cig. roe

FirstDatas FDC 32.45 32.45 18749
KBRIncn KBR 20.69 20.67 0 18023
BredeCm BRCD 9.71 9.71 z 17407
Hallibtns = HAL 32.27 3245 +18 16941
iShEAFE = EFA 76.50 76.50 15417

CVS Care
Continucre
Intel
DirecTV
MarshM

CYS
CNU
INTC
DIV
MMC

3329
12423
116
11018
10910
10886
10617

3.20 +10
19.12 -.01

Motorola
Genworth

MOT

GNW 3479 34.79

For up-to-date stock quotes, go to www.MiamiHerald.com and click on Business



ECONOMY

INTERNATIONAL EDITION

TUESDAY, APRIL 3, 2007 | 4B,
|

U.S. manufacturing expands

BY CANDICE CHO!
Associated Press

NEW YORK — In yet
another sign that U.S. eco-
nomic growth may be slowing,
manufacturing companies
reported Monday that busi-
ness expanded at a lower-
than-expected pace in March
even as prices surged for raw
materials.

The Institute for Supply
Management, a trade group of
corporate purchasing execu-
tives, said its manufacturing
index registered 50.9 in March,
below the February reading of
52.3 and Wall Street’s expecta-
tion of 51.

A reading above 50 indi-
cates growth for the sector,

MUSIC



while a reading below 50 indi-
cates contraction.

Despite the sluggish
growth, prices appeared to be
surging for certain commodi-
ties, including aluminum,
cobalt, copper, corn, corru-
gated containers, diesel fuel,
natural gas and steel, as
demand increased around the
world. The ISM’s price index
shot up to 65.5 in March from
59 in February, causing unease
among analysts and investors.

“There’s very little growth,
but prices are rising. It’s not a
healthy mix,” said Nigel Gault,
an analyst with Global Insight
in Lexington, Mass. Rebounds
in oil prices over the past few
months are also adding to

pricing pressures, he said.

Employment and manutac-
turers’ inventory levels also
declined.

The ISM’s manufacturing
sector index, compiled from a
survey of the group’s mem-
bers, has wavered above and
below 50 for several months,
an indication of the overall
economy’s uncertain path. It
showed contraction in
November, rebounded in
December, fell back again in
January, only to expand again
in February.

The expansion in March
marked the second consecu-
tive month of growth for the
manufacturing sector, while
the overall economy grew for



the 65th consecutive month.

While indicating a less opti-
mistic outlook than expected,
the report shouldn’t have a big
impact on the markets, Gault
said.

Stocks were mixed after the
report as investors showed
their ongoing nervousness
about the overall economy’s

Se4

,

health, including inflation lev- ~
els; the fear on Wall Street is ~

that the Federal Reserve will

be less inclined to lower inter- .,

est rates if price increases are
accelerating.

The ISM report revealed .*,

some positive trends: Compa-

ey

Sas

nies had more orders for new |

business and their production
expanded in March.

“ ALASTAIR GRANT/AP

DOWNLOAD TRACKS: From right, Apple CEO Steve Jobs, who was at the launch of DRM free recordings, Damon
Albarn, of the pop group Blur and Eric Nicoli, EMI CEO at EMI headquarters in London.

EML Apple to sell songs online «

minus copyright technology

BY JANE WARDELL
Associated Press

LONDON — The world’s
No. 3 record company will sell
its music online without tech-
nology to prevent unautho-
rized copying and sharing,
splitting from other major
labels that have feared such a
move would return the indus-
try to the days of rampant
piracy.

EMI announced Tuesday it

will begin offering the down- _

loads on Apple’s iTunes music
store next month. The deal,
however, doesn’t affect music
from its most famous act —
The Beatles — though the
company said it was working
on making the Fab Four cata-
log available online. With
restriction-free music, EMI
said it is responding to an
overwhelming demand from
music buyers who want the
ability to download tracks
onto different devices. Besides
The Beatles, the label is home
to the Rolling Stones, Norah
Jones, Coldplay and Kylie
Minogue.

Analysts said the deal with
Apple was a bold move from
London-based EMI that would

FIRST DATA

be closely watched" — and
thesh almost certainly followed
— by the three other music
majors, Sony BMG Music
Entertainment, Universal
Music and Warner Music.

“This is a message to the
industry as a whole about
where the digital market is
going in the future,” said
Ovum senior analyst Carl
Gressum. Representatives of
Sony BMG Music Entertain-
ment and Warner Music
Group declined to comment. A
cali to a spokesman for Uni-
versal Music Group was not
immediately returned.

The iTunes website will be
the first online retail outlet to
sell the new “premium” pack-
age from EMI, which will offer
all the record company’s
online content without restric-
tive anti-piracy software,
known as DRM, and with
enhanced sound quality.

The Apple site will offer
the new premium tracks
alongside the existing “stan-
dard” tracks, charging an extra
30 percent for the singles.
Albums will be offered in both
formats at the same price.

“Consumers tell us over-

whelmingly that they would

be prepared to pay a higher’

price for digital music that
they could use on any player,”
said EMI Chief Executive Eric
Nicoli said. “It is key to
unlocking and energizing the
digital music business.”

Analysts suggest that an
across-the-board lifting of the
software restrictions could
boost sales of online music,
which currently account for
around 10 percent of global
music sales.

They also said the threat of
piracy has been diminished
since the peer-to-peer free-
for-all of nearly a decade ago
that spawned heated intellec-
tual property battles and led to
stiffer punishments for illegal
downloading.

Susan Kevorkian, an analyst
with market researcher IDC,
said EMI is betting it will make
more money selling to a
broader online base of paying
customers than it might lose to
pirates, who have been some-
what checked by the harsher
penalties. “(Piracy) is not dead
but it’s been contained,” she
said. “With the possibility of
distributing unprotected

music files comes the possibil-\' i

"oa

ais

a

ity of piracy. But ‘the music ms

industry has more legal pro-
tections at its disposal today.”
The links between the

download services and players *

affy

’

has drawn criticism from ‘

European regulators, who

argue that it limits buyer -

choice. While iTunes will be °

the first site to offer EMI’s
DRM-free downloads, the
label has not signed an exclu-

‘sive deal with Apple and

Nicoli said the company’s cat-
alog would be made available
the same way on other sites.

“I expected it to be an |

exclusive six or 12-month deal

but they didn’t choose the © * .

security blanket and that’s a
good thing for the industry,”
said James McQuivey, an ana-
lyst at Forrester Research.

Apple Chief Executive
Steve Jobs, who has been lob-
bying for months for record
companies to remove the
DRM software, said he hopes
to offer half the tracks cur-
rently available on iTunes in a
DRM-free format by the end
of the year,
expects other recording com-
panies to follow suit.

Credit card peconnere OK’s $27B buyout

BY CATHERINE TSAI
Associated Press

DENVER — Credit card
transaction processor First
Data said that it is being
acquired by an affiliate of pri-
vate equity firm Kohlberg
Kravis Roberts & Co. for about
$27 billion, which would be
among the richest ever private
takeover offers in the United
States.

The proposed deal comes
amid a flurry of activity by
buyout groups to take public
companies private.

It would rank behind a pro-
posed $32 billion buyout of the
Texas utility TXU Corp. by a
group including KKR and
Texas Pacific Group.

If that deal is completed, it
would be the largest private
takeover in U.S. corporate his-
tory.
KKR has offered $34 a share
for First Data, a premium of
about 26 percent over First
Data’s closing price on Friday.

First Data shares rose $5.55
or 21 percent, to close at $32.45
Monday on the New York
Stock Exchange after briefly
rising to a 52-week high of
$32.90.



Under terms of the agree-
ment, First Data can solicit
third party proposals over the
next 50 days and the company
said it plans to actively do so.

It has about 754 million
common shares outstanding
which would be worth $25.6
billion at the offered price. In
addition, the company said
unvested stock options and
restricted stock awards that
would vest upon a takeover
would add about $14 billion to

ED ANDRIESKI/AP

TAKEOVER: Kohlberg Kravis Roberts & Co. has offered
Dirst Data $27B, making it among the richest ever
takeover offers in the U.S. Above, First Data
headquarters in Greenwood Village, Colo.

what the buyer would pay for
First Data stock, boosting the
deal’s value to about $27 bil-
lion.

The buyer would also
assume about $2 billion in
First Data debt, raising the
value of the transaction to
about $29 billion, the company
said.

In a written statement, KKR
member Scott Nuttall praised
First Data’s management team
and said KKR looked forward

to working with them.

First Data’s board has
approved the transaction, but
it requires shareholder and
regulatory approval as well as

other customary closing con- .

ditions. The deal is not contin-

gent on financing by the inves- ,

tor group, and First Data

indicating he |

expects the deal to be com- . _
pleted by the end of the third .

quarter. .
Citigroup, Credit Suisse,

Deutsche Bank, HSBC, Leb- . :

man Brothers, Goldman Sachs
and Merrill Lynch have com-
mitted to provide debt financ-

ing for the transaction subject -

to customary terms and condi-
tions, and are acting as finan-
cial advisors to KKR.

First Data has become one
of the leading electronic pay-

ment processors since it was -,~

spun off by American Express
and went public in 1992.

With more people shifting .-

from cash and checks to credit
and debit cards, First Data has
potential to grow. In February,

the company said it was clos- -

ing a check and money order
division for financial institu-

tions to focus on its other -

operations.
THE TRIBUNE





Oil import costs

‘

@ By CARA BRENNEN-BETHEL
Tribune Business Reporter



n the past three years, Bahamian oil
[= petroleum product consumption
has steadily increased to total $705.781
million for the 2006- full-year, the latest
Central Bank figures have revealed.
According to the Quarterly Statistical
Digest released by the Central Bank, based
on its statistics and those of the oil compa-
nies, in 2004 the total value of oil imports
for Bahamian consumption was $365.452
million, the majority of this being on gaso-

ine.

In 2005, the total value of Bahamian oil
consumption increased to $524.252 million,
with the gasoline value almost doubling to
$259.090 million. Motor gasoline imports
increased to $133.348 million, propane to
$6.381 million, and lubricants and other oils
also increased to $ 6.374 million. In 2005,
the cost of aviation gasoline increased to
$2.926 million, and Bunker C rose to $2.228
million.

According to the 2006 figures, total
Bahamian oil consumption rose to $705.781
million. The report reveals that only one

hit $706m in ‘06

area saw a decrease in import value, name-
ly aviation gasoline, which decreased by
$1.691 million to $1.235 million.

Gas oil costs rose to $328.552 million,
and motor gasoline to $163.047 million.
Kerosene (jet fuel) saw a huge increase to
$71.169 million. Lubricants and other oils
increased to $9.646 million, propane to
$7.751 million and Bunker C saw a slight
increase to $2.720 million.

According to the report, total oil con-
sumption costs in 2004 wete $251.533 mil-
lion. In 2005, it was $459.629 million and in
2006 it rose to $584.121 million.

‘Self-sustaining’ BISX step closer to reality

FROM page 1B

“For BISX, if all the gover-
ment paper gets on it, it will
have sufficient critical mass to
be a self-sustaining operation,
based on the income from that
one area,” Mr Smith said.

The market’s listing and trad-
ing on BISX would make the
entire Bahamian capital mar-
kets “deeper and more dynam-
ic”, Mr Smith said, transforming
the long-term government
paper sector from its current
status, where most securities
were held to maturity by their
original purchasers.

The market’s move to BISX
would enable the creation of a
secondary market where goy-
ernment paper was traded by
investors and market partici-
pants, Mr Smith pointing out
that prices would be determined
by factors such as an issue’s age
as it neared maturity.

The secondary market would
also benefit Bahamian insur-
ance companies, Mr Smith said,
especially life insurance firms
who.were always looking to
match long-term, assets to lia-
bilities.

The NIB and other govern-
ment agencies hold the lion’s
share of government paper, and
a secondary market would
enable insurance companies and
other businesses to acquire and
sell securities in line with their
asset-matching requirements
and business cycles.

The ownership of govern-
ment paper, Mr Smith
explained, could change hands’
without its value being eroded,
and a secondary market would
also create opportunities for the
creation of derivative instru-
ments in the Bahamian capital
markets, such as repos (repur-
chase agreements).

“It basically increases the
amount of activity, which in
essence deepens and broadens
the capital markets,” Mr Smith
said.

The minister added that insti-
tutions such as the World Bank
and International Monetary
Fund (IMF) had been encour-
aging the Bahamas to use “mar-
ket-based solutions to instru-
ments traded in the capital mar-
kets”.

There are currently some 140
tranches or issues of govern-
ment-registered stock out-
standing, with a total market
value of $1.8 billion. The list-
ing of such public sector debt
securities, never mind Treasury
Bills, will dramatically boost
BISX’s market capitalisation,
giving the exchange critical
massm, plus the investment
options, trading volume and lig-
uidity it has lacked.

In turn, the central securities
depository holds out the
promise of reducing transaction
costs and improving efficiency
in the government debt mar-
kets, introducing more trans-
parency and better price dis-
covery through BISX’s elec-
tronic platform.

Keith Davies, BISX’s chief
executive, yesterday told The
Tribune he was “very encour-
aged” by the fact that his and

the Central Bank’s submissions _

had reached the minister.

He added: “The bell has been
rung on our side to get on with
our work and let the Govern-
ment do what it needs to do.

“We will be working on the
ground to do all that is neces-
sary to ensure the system can
do what is required to provide
for the issuance and secondary
market trading, plus the main-
tenance of accounts in the
GED

Acknowledging that legisla-
tion such as the Registered
Stock Act might have to be
amended, Mr Davies said it was

’

likely that the government debt
market might operate for a time
on two parallel systems - the
current one and the BISX plat-
form - to ensure the transition,
when it happened, would be a
smooth one.

He added that BISX would
ensure the technology platform
would be “world class”, and
have the capacity and level “to
handle the work now and for
many years to come”.

The CFD that BISX has been
testing for the public sector debt
securities market can handle
400,000 transactions per hour
and 70,000 accounts, far more
than the Bahamian market is
likely to need.

Currently, the Central Bank

cts as the primary dealer for

government issues, marketing
and distributing them on its
behalf to other institutions and
market participants.

Mr Davies said than when the
process is transferred to BISX,
the Central Bank would “step
aside” from that role and allow
other market participants, such
as broker/dealers, to act as the
first purchasers from the Gov-
ernment.

This, in turn, would create
competition in the market that
was likely to reduce the interest
rates attached to debt issues,
and Mr Davies said BISX’s sys-
tem would provide for “fair and
equitable distribution”, ensur-
ing that no market participants
were shut out.

The central securities depos-



@ BISX CEO KEITH DAVIES

itory will “dematerialise” the
government securities, market,
removing the need for investors
to hold paper certificates.

Currently, if investors wish text:

sell their government-registered
stock, their paper certificate has
to be handed into the Registry,
immobilised, surrendered and
then withdrawn from existence.

Under BISX’s electronic plat-
form, investors would no longer
need to hold the physical paper
certificates themselves, as they
would all remain with the cen-

TRUST OFFICER

LEADING TRUST COMPANY is seeking a candidate for

the position of Trust Officer.

The position reports to the Vice President, Client Services
and is responsible for the ongoing administration of trusts and
other fiduciary products and services, including:

¢ Liaising with senior management in the provision of
information/execution of transactions and problem resolution

e Managing all associated risk and escalating as appropriate

¢ Preparing periodic administrative reviews of trusts and

companies

¢ Liaising with Compliance/ Business Risk Management,
internal/external auditors and regulators as required to ensure
adherence to all internal policies/procedures and regulatory

requirements

* Ongoing updating and maintenance of trust administration
system as it relates to account management
¢ Projects as assigned from time to time.

KNOWLEDGE/SKILLS REQUIRED:

* Bachelors degree in law, business administration, accounting

or related field

¢ Minimum 3-5 years experience in trust and company
administration or related experience
¢ Strong oral and written communication skills

¢ STEP qualification is desirable

¢ Sound knowledge of fundamental trust and company laws
and related administrative practice

* Basic knowledge of banking and investment products and
their application in overall management and administration

of wealth

¢ Basic understanding and working knowledge of accounting

concepts and their applications

* Ability to identify potential risk issues and solutions and to
communicate these effectively to senior management
¢ Excellent time management, organization and administrative

skills

* Strong analytical and problem-solving skills
* Strong PC skills; knowledge of 4Series an asset
* Strong interpersonal skills and excellent team player

Salary commensurate with qualification and experience and
interested Bahamian candidates should forward a copy of their
resume to:

Human Resources
PO. Box N-10697
Nassau, Bahamas or
Fax: (242) 325-0911 or
E-mail: smith@experta.bs



tral securities depository from
issue. The depository would
then do the rest, in the event of
a sale, to complete every step
of the transaction.

TUESDAY, APRIL 3, 2007, PAGE 5B

The Tribune

Real Estate |

Tre edn anew eMC token acs eeemeaeareren
Everywhere The Buyers Are!

Lo.

RESOURCES &

OFFICE MANAGER

Seeking EXPERIENCED
Human Resources & Office Manager.
Salary will be commensurate with experience.
Only persons meeting the requirements
below should apply.

¢ A Bachelor’s Degree in HumanResources

e At least Five (5) years experience in Human
Resources

¢ Working Knowledge of the Employment
Act, 2001

Please submit your application via email to:

bahamasexecutivesearch@ gmail.com



THE CENTRAL BANK
OF THE BAHAMAS

B$ COUNTERFEIT BANKNOTE AND
INTRODUCTION TO CRISP SERIES SEMINAR

PLACE:

CONTACT NOS.:

APPLY BY:

THE CENTRAL BANK OF THE
BAHAMAS TRAINING ROOM,

MARKET STREET AND TRINITY =

PLACE
ENTRANCE

SESSION 1
APRIL 18, 2007 FROM
11:30 A.M. TO 1:00 P.M.

SESSION 2
APRIL 18, 2007 FROM 6:00 P.M.
TO 7:30 P.M.

302-2620, 302-2622 &
302-2734

APRIL 13, 2007

THE SEMINAR IS OPEN TO BANKS AND BANKING
INSTITUTIONS, GOVERNMENT AGENCIES AND
CORPORATIONS, PRIVATE COMPANIES AND THE
GENERAL PUBLIC. APPLICATIONS WILL BE TAKEN
ON A FIRST-COME /FIRST-SERVED BASIS, AS SPACE IS

LIMITED.

KINDLY INDICATE WHICH SESSION YOU WILL BE

ATTENDING


PAGE 6B, TUESDAY, APRIL 3, 2007

THE TRIBUNE



Tribune Co accepts $8.2bn buyout
offer from Zell, plans to sell Cubs

@ By ASHLEY M HEHER
AP Business Writer

CHICAGO (AP) — Real
estate mogul Sam Zell won the
batthe-of the billionaires Mon-
dayelanding media conglomer-
ate “Bribune Co. after a down-
to-fhé-wire bidding war.

Even with the buyout’s $8.2
billion price tag, the outlook for
the nation’s second-largest
newspaper publisher remained
as uncertain as it did six months
ago when it began a strategic
review to boost a lagging stock
price.

A big chunk of new debt also
will be required to pay the $34 a
share cash buyout. Zell is count-
ing on repaying the debt large-
ly through tax benefits from a
new employee stock option plan
that would supplement existing
retirement accounts for the
company’s 20,000 workers.

Aside from selling the Chica-
go Cubs baseball team and its
stake in Comcast SportsNet,
Zell and Tribune executives
were mum about prospects for
the rest of the company’s assets,
including 23 television stations
and fine newspapers ranging in
size*from the Los Angeles
Times and the Chicago Tribune
to the Daily Press in Newport
News, Va. that will remain after
two papers in Connecticut are

sold.

“Whether someone whose
experience is in commercial real
estate — in steel and cement
and bricks and leases — can
navigate the ungainly media
structure for success remains to
be seen,” said Rich Hanley, a
journalism professor at Con-
necticut’s Quinnipiac Universi-
ty. “This is unlike any other
business he’s touched. ... The
stakes are very high.”

Tribune Chief Executive
Dennis FitzSimons told The
Associated Press that there are
no plans to cut the company’s
work force or sell off other
newspapers or TV stations.

“This is a good outcome for
our shareholders and a good
outcome for our employees,”
FitzSimons said in the interview.

But industry observers said
more divestitures or spinoffs are
likely, especially as Zell learns
the ropes of the newspaper
business and a company that
has been losing readers and
advertisers to the Internet.

“There tends to be a fairly
long learning curve with respect
to how newspapers operate,”
said Sammy Pappert III, the
chief executive of Dallas-based
newspaper consultants Belden
Associates.

The company’s complex deal
with Zell has a relatively small

COMMONWEALTH OF THE BAHAMAS 2007

IN THE SUPREME COURT

Equity

129



@ THE Los Angeles Times building is seen in downtown Los
Angeles. Tribune Co., the owner of the Chicago Tribune, Los
Angeles Times, and various other newspapers and TY stations, has
accepted a buyout offer from real estate investor Sam Zell in a deal
valued at about $8.2 billion, the media company has said.

breakup fee — $25 million —
leaving open the possibility of
another counter bid from Los
Angeles billionaires Eli Broad
and Ron Burkle, who also sub-
mitted $34-per-share offers for
Tribune.

“A low breakup fee could
encourage a trumping bid from
the Ron Burkle/Eli Broad part-
nership or another bidder, but
this seems unlikely given the
lengthy and very public nature
of the review process,” Citi-
group analyst William G. Bird
wrote in a research note.

Representatives for the pair
declined to comment Monday.

Zell plans to invest $315 mil-

(AP Photo: Nick Ut)

lion in the media company and
will eventually become chair-
man of Tribune’s board when
the buyout is complete some-
time in the fourth quarter. The
offer needs shareholder
approval.

The buyout will be conducted
as a two-part deal, the company
said. The first’ stage, expected
to be completed in the second
quarter, will involve a cash ten-
der offer of $34 per share for
126 million shares, more than
half of the outstanding Tribune
shares. The remaining shares
will be purchased later at the
same $34 per share price.

Tribune has about 240 mil-

‘Lhe Petition of Mavis Clarlton, Executrix of the Estate
'G£.Trevor Dorsett late of Port Nelson, Rum Cay one of
‘thé islands of the Commonwealth of The Bahamas is in
#espect of the following parcel of land:

IN THE MATTER OF ALL THAT tract of
me land containing 293,427 acres situate on the

aaa Josiah Tallnall (1-76) approximately 2300 feet
west of Cotton Field Point in the vicinity of

mt
EN

AL
TE.



NOTICE

NOTICE is hereby given that BESHY LAVAUD OF
WILSON ST., P.O. BOX GT-2043, 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 ard day of April, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box



lion shares outstanding, accord-
ing to a regulatory filing.

“The strategic review process
was rigorous and thorough,”
William Osborn, a Tribune
director who led the review
process, said in a statement.
“We determined that this
course of action provides the
greatest certainty for achieving
the highest value for all share-
holders and is in the best inter-
est of investors and employees.”

The buyout already has the
support of two of Tribune’s
largest shareholders, including
the Chandler family, which has
about a 20 percent stake in the
media company.

Tribune purchased Times
Mirror Co. from the Chandler
family in 2000 for about $6.5
billion. In the years following
the deal, Tribune’s stock began
to fall, dropping about 50 per-
cent from early 2004 until last
spring. It has languished just
above $30 per share for months.

Charles Bobrinskoy, vice
chairman of Ariel Capital Man-
agement, said his money man-
agement firm also would sup-
port the Zell deal. Ariel Capital
owns about 6.1 per cent of Tri-
bune shares.

“These are clearly challenging

times for all newspaper compa-

nies, but we’re very pleased by
today’s announcement and plan
to support the proposed trans-
action,” Bobrinskoy said.

Opponents of media consoli-
dation predicted a staunch fight
with regulators in Washington,
especially regarding Tribune’s
cross-ownership of TV stations
and newspapers in the same
media market.

“There will be fierce opposi-
tion to the sale and it will be
used as a vehicle to underscore
the fight over media consolida-
tion at the FCC and in Con-
gress,” said Andy Schwartzman,
president of Washington-based
Media Access Project.

Tribune said Zell will use an
employee stock ownership plan
to finance part of the deal and
lower the taxes on any sale. The

employees as we build on the
great heritage of Tribune Com-
any.”

An ESOP allows the compa-
ny to borrow money and repay
loans using pretax dollars. Pay-
ments of both interest and prin-
ciple are tax-deductible and
would create more leverage for
a buyer.

“The ESOP can only help
pay down this mountain of debt
with a positive corporate cul-
ture that drives performance
but does not deflate the moti-

vation of workers,” said Joseph - .

Blasi, a professor at Rutgers
University who is an expert on
the structures.

Bear Stearns analyst Alexia
Quadrani said after the deal is
completed, Tribune will have
about $13.4 billion in net debt.
The company has about $5 bil-
lion in debt now.

“After an exhaustive six
month review we.believe this
complicated and heavily levered
transaction is another indica-
tion of the waning interest in
the newspaper business given
the ongoing secular challenges
that are weighing on the funda-
mental outlook,” she wrote in a
research note published Mon-
day.

Analysts have estimated that
the Cubs could fetch $600 mil-
lion or more. Tribune bought

the team in 1981 for $20.5 mil- .

lion.

Its strength as a sports fran-
chise — and the lure of poten-
tially steering them to their first
championship in a century —
has attracted the interest of
many potential buyers. Billion-
aire entrepreneur Mark Cuban,
actor Bill Murray and colum-
nist George Will are among
those rumored to have interest,
along with numerous Chicago
business figures.

Tribune’s share price fell
about 50 percent from early
2004 until last spring and has

remained just above $30 for °

months, down from an all-time
high above $60 in 1999.
Zell, 65, made his fortune






























a Munroe Beach on the Southern Coast of Rum N- 7147, Nassau, Bahamas. ESOP, which resembles a prof-. reviving moribund real estate. +

mes Cay in the Commonwealth of The Bahamas. it-sharing plan, will become the After a bidding war culminated °.

-_ majority owner of Tribune once in February, he sold his com-

Copies of the filed plan may be inspected during the the deal is complete. Zell will pany, Equity Office, to the pri- 4

normal hours at:- be entitled to buy 40 percentof vate equity firm Blackstone °,

= TAYLOR INDUSTRIES LTD. |] egompanyscommon stock: Group for 823 lion a9.

‘ (a) The Registry of the Supreme Court j a ae Fe 3

; WILL BE CLOSED ated with Tribune Company, _ cents, or 2.2 percent, toclose at ;

Ansbacher House, East Street North, which I believe is a world-class $32.81 in trading Monday on +

Nassau, Bahamas, and; FOR THE EASTER HOLIDAY ON publishing and broadcasting the New York Stock Exchange. *.

enterprise,” Zell said in a state- an

(b) The Chambers of The Law ment. “As a long-term investor, e AP Business Writer Dave *

Partnership, International House, No. 1 I look forward to partnering Carpenter in Chicago con- .

Virginia Street, Nassau, Bahamas. FRIDAY, APRIL 6TH with the management and tributed to this report.

Notice is hereby given that any person having right to SATURDAY, APRIL 7TH :

‘dower or any adverse claim not recognized in the Petition RI :

shall rete the ee - . March, ae . _ the Ro M ON DAY, AP L ITH N OTI Cc E :

of'the Supreme Court and serve on the Petitioner or the , 2

undersigned a statement of such claim. Failure of any 1 A ST dye! aaa oes ee re ’

such person to file and serve a statement of such claim WE REGRET ANY Minister responsibl eter Nation ality ; and “Oiigenehip ie :

and requisite documents on or before the 31st day of ictrati izati it] 2

i : registration/naturalization as a citizen of The Bahamas, and °

' . naturalization should not be granted, should send a written 4

The Law Partnership CAUSE TO OUR CUSTOMERS. and signed statement of the facts within twenty-eight days | »

Attorneys for the Petitioner from the 3rd day of April, 2007 to the Minister responsible 2

International House for Nationality and Citizenship, PO.Box N- 7147, Nassau, ;

No. 1 Virginia Street Bahamas. ‘

Nassau, Bahamas ‘

&

IDELITY NOTICE is hereby given that FANISE SIMON OF | |

1 hy SPANISH WELLS, 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 6

Arena OR ey exeeenonie VOGUE Es CEES ES IEE BE reason why registration/ naturalization should not be | ',

1.65 0.54 Abaco Markets 3.3
qos 10.70 Bahemes Property Fund 1 1-80 11.88 0.08 1,000 1689 0400 69 3.45% the facts within twenty-eight days from the 3rd day of :

: : ens CL eanamas ; : AOR Ouse, “0200 lee 262% March, 2007 to the Minister responsible for Nationality | «

2 30 128. | /Gahairis Wests 2-10 2/30 020 1,000 «0.199 «0060146 261% and Citizenship, P.O.Box N- 7147, Nassau, Bahamas. | ‘

1.49 1.12 Fidelity Bank 1.30 1.30 0.00 0.170 0.050 7.6 3.85% ‘
10.33 9.00 Cable Bahamas 10.35 10.35 0.00 100 0.915 0.240 411.3 2.32%

2.20 1.67 Colina Holdings 2.10 2.10 0.00 0.078 0.040 26.9 1.90% y

14.19 9.50 Commonwealth Bank 14.19 14.19 0.00 300 0.998 0.680 14.2 4.79% .

6.26 4.22 Consolidated Water BDRs 4.74 4.77 0.03 0.118 0.045 40.2 0.95%) Legal Notice .

B21 S64 cFenguad 5.04 5.04 0.00 0552 0.240 10.8 4.04% :

12:45 10.70 Fineo 12.45 12.45 0.00 0.779 0.570 15.7 4.58% .
17108. i045) pee 17.08 17.08 0.00 1644 (0810 10.4 2.09%

1.15 0.50 Freeport Concrete 0.50 0.50 0.00 -0.434 0.000 N/M 0.00% FUNCO LTD.

10,20 ICD Utilities 7.25 7.25 0.00 0.532 0.100 13.6 1.38%




J. S. Johnson (In Voluntary Liquidation)

Premier Real Estate




tee a we we




Notice is hereby given in pursuance of Section 239 (1)









Bahamas Supermarkets 15.60 16.00 1.766 1.125
















10.14 Caribbean Crossings (Pref) 8.00 8.25 10.00 0.000 0.640 NM 7.85% Y . ds
0.54 ° _RND Holdings 0.55 0.20 0.021 0.000 26.2 0.00% and (2) of The Companies Act, 1992 (as amended) that a '
ek Re ees! er-the-Counter Securities LLL MA Uy General Meeting of the above-named Company be held at
43.00 28.00 ABDAB 41.00 43.00 41.00 2.220 0.000 194 0.00% ; . sh eats
Bahamas Supermarkets 14.60 15.50 14.00 1.770 1.320 83 9.04% Ronald Atkinson & Co., Marron House, Virginia and ‘
oldings 5 0.55 0.45 -0.070 0.000 N/M 0.00% 4 : ise ;
sar eaetaeinmnen: rian i a he 2000". NIM : Augusta Streets, Nassau, Bahamas, on the 8th day of
cS = ‘BISX Listed Mutual Funds j d PEELE. iy, 2 : ; > ;
Fund Name YTD% _Last12Months __Div$ Yield % May 2007 at 9:30 a.m. for the purpose of presenting the







1.3337 1.2806 Colina Money Market Fund 1.333665" ’ | i

3.0988 2.7451 Fidelity Bahamas G & | Fund 3.0988*** Liquidator’s account of the winding-up and disposal of

2.6254 2.3312 Colina MS! Preferred Fund 2.625419°* ., re ; “
44502 Galina Bond Eund Godage 1 aes the company’s property to the Members of the Company.





10.0000



Fidelity Prime Income Fund






E> 4 2
z Bs bet in +: Mer ERODE ON 7
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity



Dated the 30th day of March 2007.

“NAVKEY



BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

52wk-Hi - Highest closing price in last 52 weeks








52wk-Low - Lowest closing price in last 52 weeks Ask $ - Selling * - 23 March 2007
Prévious Close - Previous day's weighted price for daily volume Last Price -L 4 over-the-counter price
Tgday’s Close - Current day's weighted price for daily volume Weekly Vol. - 1g volume of the prior week ** - 8 February 2007 Bennet R. Atkinson




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

Change - Change in closing price from day to day

Daity Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month eamings



Liquidator

*** - 31 January 2007




**** - 28 February 2007



a rey a a ce ene a ed ei ca wn ee Bn wee PP es Pt SH tO pets tat erent inns Ft th het eee, Meee - 8 February 2007

FO TRADE CALL: COLINA 242-502-7010 / FIDELITY 242-356-7764 / FOR MORE DATA & INFORMATION CALL {242} 394-2503


THE TRIBUNE |

TUESDAY, APRIL 3, 2007, PAGE 7B



Major subprime mortgage lender file

was
Be

for bankruptcy, fires 3,200 workers

@ By GARY GENTILE
AP Business Writer

LOS ANGELES (AP) —
New Century Financial Corp.,
once the nation’s second-largest
provider of home loans to high-
risk borrowers, filed for bank-
ruptcy protection on Monday,
the victim of its own financial
missteps as well as pressures
felt by its rival lenders.

New Century immediately
fired 3,200 workers — more
than half its work force — and
said it intends to sell off its
major assets.

“The Chapter 11 process pro-
vides the best means for sell-
ing our servicing and loan orig-
ination operations to financial-
ly sound parties,” president and
chief executive Brad A. Mor-
rice said in a statement.

“Tt is our hope that potential
buyers will be in a stronger
position than we are to employ
many of our associates on an
ongoing basis,” he said.

The company made the
move after exploring a variety
of possible ways to stay in busi-
ness, he said.

New Century was the latest
so-caled subprime lender to fall
on hard times amid a spike in
mortgage defaults caused by

borrowers unable to make pay-
ments. More than two dozen
subprime lenders have shut
down in recent months and oth-
ers are scrambling to stay in
business.

Subprime loans target bor-
rowers with low credit scores.
The mortgages carry relative-
ly high interest rates but can
also offer low initial payments.

“New Century’s failure raises
the very real risk that the prob-
lems facing the subprime sector
will spread into the broader
mortgage market,” said
Octavio Marenzi, CEO of
Celent, a Boston-based finan-
cial research and consulting
firm.

“Relatively lax lending stan-
dards were by no means limited
to subprime lenders, and prob-
lems could easily spread to the
broader banking sector,” he
said

New Century said it had
agreed to sell its loan servicing
business to Carrington Capital
Management LLC and its affil-
iate for about $139 million, sub-
ject to the approval of the
bankruptcy court.

CIT Group and Greenwich
Capital Financial Products Inc.
have agreed to provide up to
$150 million in working capital

to facilitate the reorganization
process, the company said.

New Century has also agreed
to sell certain loans and residual
interest in some trusts to
Greenwich Capital for $50 mil-
lion.

New Century, based in
Irvine, filed for Chapter 11 pro-
tection in U.S. Bankruptcy
Court for the District of
Delaware. The move had been
expected for several weeks.

“This was a very hard step

for me personally and clearly .

not the outcome I would have
preferred,” Morrice said.

Like other subprime lenders;

New Century profited during
the real estate boom, when
appreciation rates soared and
equity protected most home-
buyers from defaulting on their
loans. Most could simply refi-
nance or sell homes at a big
enough profit to pay off mort-
gages and move on.
Investment banks also
jumped in, eager to buy loans

from subprime lenders then’

slice them up into bond prod-
ucts to sell on Wall Street.

That helped New Century
stock hit its historic high of
$65.95 in December 2004. Its
loan production for 2005 hit a
record $56.1 billion.

Cn February 7, however,
New Century informed the
Securities and Exchange Com-
mission that it would have to
restate financial results for the
first three quarters of 2006. The
company said it had failed to
accurately tally losses from loan
repurchases,

It also faces federal probes
by the SEC and the U.S. Justice
Department. And sharehold-
ers, angry over their losses and
alleging mismanagement by the
company’s directors and offi-
cers, have fired off several law-
suits.

Last week, New Century said
several of its lenders planned
to sell their outstanding mort-
gage loans and use the proceeds
to offset payment obligations
by the company, while retaining
the right to recover the differ-
ence.

The company has signed con-
sent agreements with several
states and received cease-and-
desist orders from others in
recent weeks.

The state agreements are
intended to keep New Century
from accepting new mortgage
applications on grounds that it
has violated state laws, includ-
ing failing to fund mortgage
loans after closing.

Coalition calls for public release

_ Baker’s Bay
_GOLF & OCEAN CLUB

As part of our commitment to employ 200 Bahamians off
our project we are seeking qualified Bahamians to apply
for the position of: oa

Yacht Fleet Manager a

Responsibilities will include:

Must have 5-10 years experience managing five’.
or more yachts ve

ray

o,
~e

Must have diesel and gas engine experience
Must be Computer Literate 7
Must be willing to live on an out island

Ability to work on own initiative is important
Ability to work with existing team

te

Bos

to

aS

e, >,
oe

Salary and benefits will be based on experience and will
include health benefits. Only qualified applicants need:

apply. oa

Applications can be directed to:
Indira Edwards
P.O. Box AB20766
Marsh Harbour, Abaco

Or iedwards@bakersbayclub.com

of the NHI economic study

ble.”

Mr Rolle said the Coalition and other
private sector organisations needed “to be
comfortable the results are shared with us”
and the full results from the economic
impact study published, rather than it be
“made to fit a particular case”.

The Tribune understands that at the |
meeting with the Coalition, the consultants
were directed to the. 2003 Tourism Task- ~

force on Trade Liberalisation report, which
showed how the Bahamas’ competitiveness
was being blunted because it was a high-
priced destination and losing market share.

There was also a feeling among some
present that the questionnaire DAH Con-
sulting would use to obtain information for
its study were written in such a way as to get
the 4nswers the Government wanted,

sources told The Tribune.
dikes

f Baker's Bay Golf & Ocean Club is a $500 million
project under development on Great Guana Cay,
it includes 381 residential homes, a 70-acre
environmental preserve, a 180-slip marina, a
championship golf course anda 70-room luxury
hotel. ie

FROM page 1B

going to impact the business sector,” Mr
Rolle added. ,

“It’s going to be very important, but we
have to be cognisant of the fact you can
make data.reflect what you want it to
reflect, so, from our perspective it has to be
as open, frank and transparent as possi-

anmnurat arg De



fol VL Ue) ae lt DM Tee ei Cele

Our client, a bank & trust company, is seeking applications for the following managerial
positions: ,

OFFICE ADMINISTRATOR:

Responsible for the profitability and efficiency of the office and providing leadership
and direction in human resources, budgeting, compliance, billing & collections, expense
management, marketing, filing, technology and office services. The Office Manager will
also be responsible for the preparation of financial statements, bank reconciliations and
management accounts.

Zum Cy

RESORF MARINA
REQUIREMENTS & PERSONAL ATTRIBUTES FOR OFFICE ADMINISTRATOR: iHE BAHAMAS
Candidates must meet the following criteria:
¢ Minimum of three years relevant administrative management experience.

Bachelor’s Degree or higher in related field. Masters degree preferred

Proven ability to enhance operational efficiencies

Proficient in the use of the Microsoft range of applications

Knowledge of Quick Books

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

dees
4

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 26 acres 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.

CLIENT RELATIONSHIP MANAGER:

Responsible for the maintenance and control of client records, payments and
disbursements, the preparation and analysis of monthly client financials and mvoices, and
posting and reconciliation of client cash and security trading transactions. The Client
Relationship Manager will also be responsible for preparation, maintenance and analysis of
loan/trust documentation and related fiduciary records.

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

REQUIREMENTS & PERSONAL ATTRIBUTES FOR CLIENT RELATIONSHIP MANAGER:
Candidates must meet the following criteria:

Minimum of three years relevant IBC/corporate administration

experience.

Bachelor’s Degree or higher in Business, Law, Finance, Economics or Accounting

required. Masters degree preferred

Excellent data entry skills

Proficient in the use of the Microsoft Word & Excel

Ability to read and interpret governing instruments and legal documentation

including trust agreements, wills, investment management agreements, custodian

agreements, etc. Skills and Attributes
Both Candidates should also meet the following criteria:

* Proven ability to enhance operational efficiencies

Experience with compliance and KYC processes and procedures

Strong technical and managerial skulls

Excellent communication, analytical and reasoning skills

Excellent organizational and time management skills

Team Player with the ability to add value and strength to the company

Honest, hardworking and possess ability to meet deadlines

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

Both positions offer attractive salary and benefits package, reflecting the autonomy

successful applicant’s experience and qualifications, including a pension plan
and medical coverage.

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

Pires individuals should submit complete resumés including references before April
0", 2007 to: .
Closing date for applications 04/04/2007.
H.R. Manager
Montana Holdings Ltd
P.O. Box N-9322
Nassau, Bahamas

Mark E. Munnings
Partner
Deloitte & Touche
P. O. Box N-7120
Nassau, Bahamas
or

Email:mmunnings@deloitte.com.bs Fax 677 3007

Deloitte. Email: island_development1@yahoo.com


PAGE 8B, TUESDAY, APRIL 3, 2007

THE TRIBUNE



ear I eee
Talks ongoing over ‘stalled’ marina deal

Hilton, sources familiar with the
situation have told The Tribune,
with there being no issues that
would act as a “deal-breaker”.
The Tribune revealed last
week how the Island Global
Yachting (IGY) project was “in
limbo”, the New York-head-
quartered company saying that
the new partner in the British
Colonial Hilton “decided to
change the terms of the deal”.
However, this newspaper has
subsequently been told that
i talks between IGY and the
‘new partner’, Adurion Invest-
ment Management, a boutique
Swiss/UK investment house that
has bought a majority stake in
the hotel’s holding company,
the British Colonial Develop-
ment Company, are continuing
with all parties agreed on how
they want the project to look.
The only differences are
understood to be over the path
taken to achieve that goal, with
Adurion wanting to re-work the
initial proposals to achieve a
solution that is mutually bene-
ficial to all parties, including
themselves and IGY.
The Tribune was told that
there was “no real deal breaker,

rently stalled multi-million dol-
lar marina and boutique resort
investment project proposed for
a site just to the west of down-
town Nassau’s British Colonial

@ By NEIL HARTNELL
Tribune Business Editor

“NEGOTIATIONS are
ongoing” to resolve the cur-

Notice

IN THE ESTATE OF STEPHEN
ORLANDO late of 6021 Gulf of Mexico Drive,
Longboat Key, in the State of Florida one of the
United States of America

Deceased

NOTICE is hereby given that all persons
having any claim or demand against the above
Estate are required to send the same duly certified in
writing to the Undersigned on or before the 26th
day of April, 2007, after which date the Executor will
proceed to distribute the assets having regard only to
the claims of which they shall then have had notice.

AND NOTICE is hereby also given that all
persons indebted to the said Estate are requested
to make full settlement on or before the date
hereinbefore mentioned.

FROM page 1B

McKINNEY, BANCROFT & HUGHES
Attorneys for the Executor
Chambers

P.O. Box N-3937

Mareva House,

No. 4 George Street,

Nassau, Bahamas.

successful exports were seafood,
poultry, citrus fruits, eggs and
vegetables.

The Inter-American Defence
College study said the Bahamas
needed to focus on using “new
forms of energy that would
lessen the dependence on
imported petroleum for both
electricity as well as the trans-
portation sector”.

It added: “Without a diversi-



THE WESTIN gz,

GRAND BAHAMA ISLAND .

A ep ate



Sheraton
OUR LUCAYA Grand Bahama Island
Resort pee EoGAY a

EXCELLENT CAREER OPPORTUNITY EXIST FOR

Director of Groups Sales _Director of Food & Beverage

Coorasp inl orator ee aremnaTU bine) nase This executive committee level candidate will direct and
Successful solicitation strategy: to all organize the F &B functions for 14 restaurants at the resort
market seginents in order to meet and/or in order to maintain high-standards of F & B’quality,.
Prasat beara nana cy service and ence eal to-maximize. Wa

Sten eb O OU U eutey Aen eat food
PUM aoe KO oR IOIAE OR al epee Trt
experience in hotel operations, culinary and sales.
Bachelors degree and multilingual ability preferred.

Executive Sous Chef
NTHTetoreca Ue cesT UCCEt sea U steno sre uer 11s PSR atte conti
ODM men Corsa LMT er Ni ORCL Say WTO eH
operations and will train ened Wee hae a rT yy

Corel Ce TEN

-Must possess Knowledge and experience in

revenue management, computer programs, Word,
Excel and Delphi. Bachelor’s degree preferred with
a minimum of 5-years experience in hotel sales. _

SET eg RTS

This successful catididate will assist the executive
ONTO IN KON ote AUC CORN culinary
Operations of the hotel’s “fine dining” room, train
Bem aunts Sos and moniter-food quality.

JAC MLTeLH TsO CLEA TB UNTIMCLN IIT AaLCacl Ny Ze

Analysis capabilities. Knowledge in writing menus, sanitation
RY Tue Tce pete) 0) Ero) ob tex LUN Coe AY ATELNLELTT NOD

BA Od Modi Kor ENO. cul Noo O I GTN THTI ETE

size operation with multiple food outlets in excess US

75,000 square ft. Culinary or apprenticeship TE
gue

ered a ee ge

A Saep NENG mae bitancN OME IENItCa TEL (es

PHU ANI AU MTR AND E CeO IN AZT
SUR UTS aca Alar JESU eSB HLA). ae
connectivity of all servers Sa EW) was

MAAK ag To

A minimum of-two years experience as.an Asian
Chefide cuisine in aresort or hotel with multiple food
Outlets and 500+ rooms. Thorough knowledge in Thai,
(Olitfitasean Piller Dolce NIMC AT Cem sr-Conte (oeg

or culinary degree:from an accredited institution
Moigucin

PGE ety

Will lead,-direct and manage the accounting

Department and produce accurate, efficient and *
Relevant operational information for the Resort.

Perform regulatory audits, formulation, compilation
And presentation of forecasts, budgets, financial
NAHE TS

OSC MCeM Te UICC TM CON CeIW env lonelg
network and PC operating systems and troubleshooting
techniques. Strong customer service orientation,
Certifications and MCSE preferred.

A minimum of 5 years experience in accounting,
Finance or related field with at least 3 years
+ Experiefce-in the management and administration of
SAU scone oer oe nnaem aCe
Excel, Word and Delphi. Bachelor’s Degree preferred.

DU Cu OR i a

Will train, supervise and work with all catering and convention services staff,
AMUT a CORONER AY aun Cremer Cen Tes ices Torr et PS it eS 3
merchandising and execution of the functions. , ;

Position requires knowledge in preparation, implementation and-compilation:ofdata —
for strategic sales plans, monthly BaCPAC reports, forecasting and experience oe

F & B, sales and hotel operations. Computer skills in word, excel and Ba 4
necessary. Bachelors degree preferred.

We offer exceptional pay and benefits.
Resumes should be forwarded on or before April ee PAV
tamara.wilson@starwoodhotels.com
We
Sharon.sands@starwoodhotels.com
Pe LUT EL IM Case) cers Blo oy: TaH0 (et | Se
Westin & Sheraton Grand Bahama Island Our Lucaya Resort
P.O. Box F-42500
Oro vue ON IOM sr Lin TE



no tough nut” lying in the way
of achieving a new joint ven-
ture deal between IGY and the
British Colonial Development
Company, but no agreement
had been reached yet and there
was no signed document.

It is understood that Adurion
felt the original proposals for
the IGY project, on a second
look, were “not such a good
idea” and that there was a more
effective way to reach a solu-
tion acceptable to both sides,

The Government and: Adu-
rion are understood to have dis-
cussed the IGY project recent-
ly, and while the Christie
administration is keen for it to
happen, it will not interfere in
commercial negotiations and
transactions.

Andrew Farkas, IGY’s chair-
man and chief executive, told
The Tribune previously on the
project: “Right now, it’s in lim-

,bo because Adurion and the

pension fund who own the
property, and have a joint ven-
ture deal with IGY, decided
they wanted to change the
deal?

“The Government had
approved everything, and our

Government is urged

fied energy sector, the entire
economy is held hostage to the
petroleum market.”

‘The Inter-American Defence
College added that further pri-
vatisations of government-run
corporations and monopolies,
and the corresponding liberali-
sation of sectors such as
telecommunications, would also
enhance Bahamian economic
growth, boosting productivity
while reducing prices for con-
sumers and the drain on the
Budget.

“Lastly, the Government
needs to continue to encourage
the further diversification of the
economy,” the study said. “The
booming financial and maritime
support industries are more sta-
ble than the tourism industry,
but are still dwarfed by it.

“The Bahamas needs to find
several more niche industries
on which it can capitalise as well







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deal with the pension fund was
fine. Everything was in great
shape, but then three weeks lat-
er the pension fund decided to
take on a new partner, and the
partner decided to change the
terms of the deal.”

When asked how much time
IGY was prepared to allow for
a deal to be worked out, Mr
Farkas replied: “Not much
longer. We’ve been at this for
several years, and have got a
lot of money invested.

“We’re very committed to the
Bahamas and have been for a
long time. We are participating
in a whole bunch of different
things going on down there. If
the worst comes to the worst,
and we end up in conflict with
Adurion, we might have to look
elsewhere.”

An economic impact study
predicted that the IGY project
would generate ‘ ‘very substan-
tial employment”, creating 700
direct full-time jobs and anoth-
er 400 indirect permanent jobs
for Bahamians. The indirect
jobs will be created at suppli-
ers of goods and services to the
development, and through ser-
vices provided to yachts.

to privatise

as it did others to make the-

economy ever more durable
from the economic downtiwn
in the US especially.”

The Inter-American Defence
College found that 30 per cent
of the Bahamian workforce -
almost one-third - was
employed by the Government,
with 17 per cent working in
sales, 15 per cent in hotels and
restaurants, 11 per cent each in
construction and financial ser-
vices, 7 per cent in transporta-
tion, and the remainder in man-
ufacturing, mining, agriculture
and fishing.

Using statistics derived from
the Economist’s October 2006
Country Intelligence Report on
the Bahamas, the study said
financial services and real estate
were the greatest wealth gen-
erators for the Bahamian econ-
omy, accounting for 31 per cent
of GDP.

SILK

The study also forecast that
the IGY development would
create 200-250 full-time jobs
during construction, and have
a total economic impact of
$222.8 million over a 20- “year
period.

Yet a spokesman for Adurj-
on’s partner, the Canadian
Commercial Workers Industry
Pension Plan (CCWIPP), said
Adurion wanted to keep the
planned British Colonial Hilton
refurbishment “on line with and
on schedule with” the IGY Pro>
ject.

He added: “Adurion’s lawyef
is preparing a new term sheet
and we’re very optimistic. Dr
Gassman was going to have it
done over the weekend, and
we'd like to go forward with it
at a very accelerated pace.” °'

IGY’s proposed marina on’,
West Bay Street would have 72°
slips, catering cniefly to the larg-
er yachts and vessels, those of
between 100-150 feet to 200 feet
and longer.

The development will feature
a boutique hotel of about 150+
200 rooms, several restaurants,
retail and a parking structure
for over 300 cars.

va
*

farm land ,

“ee

The Government accounted
for 20 per cent or one-fifth of
GDP activities, trade 11 per
cent, hotels and restaurants 10
per cent, and transportation 9
per cent. Construction generat-
ed 7 per cent of GDP, while
manufacturing and mining pro-
duced 5 per cent.

The Bahamas was found to
export $523 million worth of
merchandise goods and import
$2.149 billion, the US account-
ing for 77.5 per cent of the’ pur-
chases of this nation’s exports.
Similarly, the Bahamas import-
ed 83.5 per cent of its impor
from the US.

The merchandise trade
imbalanced by a 1:4 ratio, is
counterbalanced by the com-
mercial services trade surplus.
The Bahamas exports $2.452
billion in services, and imports
$1.26 billion, making for a 2: A
ratio.

ve" -

FLOWERS

& FLORAL

ARRANGEMENTS

0 hee lis

* Except on red tagged & net (2




#3920-02073

' Easter
Baskets

35

& up



8.10






2.60

3.60

2.00
5.60
3.10









Shake ‘n Dazzle Egg Dying Kitssssssssssscsssssseeeeen$ 5,99

Bunny Cell Phone. .ssssssssssssssssssssssssssssssssseed 4.50

Kids Armchair... saavaaredduansubaigieanaads sdrivsiveccovnnicanucsg 8209

Inflatable 20” Beach Ballisssssssssssnnng 1639

Ape Beach Sets 8.35

Iftatable Starfish Arm BandSwssssssssssend 2.15

20” De Deluxe SWim RiNg..ssssssssre avsesnrsiicaideansiveswcep? 1399)

Snickers F FUN SiZ@.sssssssssessseees fanny 6.25

Dove ich Dk Chocolate/3 EggSuesssssssssssscessssee 6,70 Kelly’

eee Tol: (242) 393-4002
6.25







#3940-56823
Twix

Easter
Minis
75

net















28-1/2” Plush
Easter
Rabbit

$26

#2040- 36780

















Custom Made *
Easter
Baskets

*1 27:

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pees
Home

Fax: (242) 393-4096 - Nassau, Bahamas

Visit us at www.kellysbahamas.com



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