Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item
Resource Identifier:
09994850 ( OCLC )
9994850 ( OCLC )
UF00084249_02861 ( sobekcm )

Downloads

This item has the following downloads:


Full Text




>” DOUBLE
FILET 0° FISH





HIGH
LOW

Volume: 103 No.112

WEATHER

FOR LENT em tevin’ it.

81F
69F

MOSTLY
SUNNY













Cabinet: We will not
RUMBA EL
services over EPA talks

SSR ae eae Sy)

fomez slams ici System

Lawyer says country [Era mosgs Danniely Mem coe tra aCe:
desperately in need 7 7
of quality judges.



@ By KARIN HERIG
Tribune Staff Reporter

UNTIL government solves the
significant problems in the coun-
try’s judicial system — such as
improving law enforcement
through salary increases and pro-
motions — efforts to fight crime
will continue to be simply “elec-
tion gimmicks”, lawyer Damian
Gomez said yesterday.

Throwing his full support
behind Justice John Lyons and
Court of Appeal president Dame
Joan Sawyer in their view of the
state of the judiciary, Mr Gomez
said the country is in desperate
need of quality judges. He criti-
cised Attorney General Allyson
Maynard-Gibson for her treat-
ment of Justice Lyons.

“I’m amazed that we can still
be talking about expending huge
sums of money on the police
force, on the Defence Force on
the prison officers — not that they
don’t deserve, they do — but after
we have arrested the criminal

how is he to be processed, we
know he cannot be convicted if
there is no court. But there is no
attention to providing the courts
with what is necessary to com-
plete the law and order process,”
he said while speaking as a guest
on More94’s Real Talk radio
show yesterday morning.

Mr Gomez heavily criticised
what he termed the “most vicious
and vitriolic attack” by Mrs May-
nard-Gibson on Justice Lyons in
the House of Assembly earlier
this year, emphasising that now
is not the time to risk losing more
quality judges.

“As a policy objective in déal-
ing with crime, I can’t see how
sensible people can discuss it
without having any regard to the
fact that we have no criminal
court in the modern Bahamas at
the Supreme Court level and in
New Providence, because of the
retirements (of judges), we are
likely to face a greater backlog

SEE page nine

Registered voters
now over 146,000

THE number of registered voters is up to over 146,000 and is
expected to climb by another 2000-3000 in the next few days.

Speaking with The Tribune yesterday, Parliamentary Commis-
sioner Errol Bethel said he believes that at least 148,000 Bahami-
ans will register to vote in time for the next general election.

Voters are still eligible to vote up until the day before the House

of Assembly is dissolved.

At this time it is still unknown when that will be, however, some
observers say that parliament may be dissolved as early as today,
while others are claiming it will take place next Tuesday after

Holy Week.
SEE page nine

iio INE



URAR (a:

CE BROKERS & AGENTS



nl eaten | bom
va

The Tribune

#1 PAPER IN CIRCULATION
Che Miami Herald

BAHAMAS EDITION

WEDNESDAY, APRIL 4, 2007

any eit Pr TT



Hotel revenues |

rise by 4.2%

@ By CARA
BRENNEN-BETHEL
Tribune Business
Reporter

external reserves.

paced a 2.2 per cent decline in
occupancy rates.

SEE page nine

Seventeen
named storms,

are predicted

: @i By BRENT DEAN

THE Central Bank of the :
Bahamas said yesterday that :
hotel revenues rose by 4.2 per :
cent to $370.4 million in the first

two months of the year. The : I 1
outlook for the economy, said : Which, five are expected to be
the bank, remains positive from :

tourism-related investment ; Stength or higher.

inflows, wh ich are bo osting both : released yesterday by Colorado
commercial bank liquidity and | ¢iate University (CSU). Both the
: Bahamas and the US were fortu-

The Central Bank said the ; pate and received no strikes from

revenue rise was propelled by a ; hurricanes last year, despite pre-
6.3 per cent increase in average :

daily room rates, which out- :

AMERICAN forecasters :
expect an active hurricane sea- :
son this year with 17 named :
storms and nine hurricanes, of :

These predictions

dictions of an active season.

the higher than normal predic-
tions, according

SEE page nine



‘The boss’
Celebrates

RUFF. RYDERS ee EE




@ VIRGIE ARTHUR,
7 mother of Anna Nicole
Smith, was about to.
leave court in a taxi yes-
terday, when a woman
in the crowd gave her a
toy bunny and told her
that she is praying for
her.










(Photo: Tim Clarke/
Tribune staff)

NHI Plan could




be ready ‘by the

nine hurricanes

end of the year’

: Ml By ALEXANDRIO

MORLEY
Tribune Staff Reporter

THE National Health Insur-

ance Plan could be ready for -
: implementation by the end of
intense storms of category three : the year according to the pro-
: ject’s manager Dr Stanley Lalta.
were :
: hired consultants to assist with
: the plan’s development and that
: employers would be in a better
: position to judge the plan after
: certain details had been “fine
: tuned.”
: Warm sea surface temperatures :
: and a diminishing El Nifio, are :
: contributing factors surrounding :
Its report indicated that aver- :
age room rates in New Provi- :

Dr Lalta said government has

Dr Lalta was responding to

: a survey that was conducted by
: the National Coalition for

to. CSU a Reform.

The coalition is made up of

SEE page nine



@ By PAUL G TURNQUEST
Tribune Staff Reporter



A GAG order remained in
effect yesterday as the results
of the paternity test to deter-
mine who is the biological
father of Dannielynn Hope was
supposed to be presented to the
Supreme Court.

Both men who claim to be

‘the father of Anna Nicole’s

baby girl, Larry Birkhead and
Howard K Stern, failed to show
up for:yesterday’s proceedings
In their place, their attorneys.
Emmerick Knowles, who is rep-
resenting Mr Birkhead, anc
Damien Gomez, representin;
Mr Stern, refused to comment
on what happened in court.

However, Damien Gomez
did reveal that his client,
Howard Stern, “should be” in
court when the case reconvenes
on Tuesday, April 10.

“We went to court, and the

' judge made an order, and I am

not allowed to say any furthe:
what happened,” he said.

SEE page nine

Man is stabbed
to death outside
of his home

l§ By BRENT DEAN

DESPITE calls and prayers b
politicians, religious figures an:
civic groups, the murder coun
rose Monday night to 23, whe)
28-year-old Lavardo Collie wa
stabbed to death outside hi
home. ;

The murder occurred in the
vicinity of his apartment on Palm
Tree Avenue around 10pm.
According to Police Press Offi-

*cer ASP Walter Evans, Mr Collie

was involved in an argument with
a man, who “was known to him”,
when the argument escalated,
resulting in Mr Collie being
stabbed in the chest. Mr Collie
died on the spot, according to
ASP Evans.

An individual is es
“assisting” the police with the
investigation and ASP Evans
expects that there will be closure
to the investigation shortly.

ASP Evans also expressed sym-
pathy to the Collie family for the
tragic loss of their loved one.

“This is homicide number 23
for the year, which involves
another young man whose life has
been taken away. In this instance,
it’s been a person who has a

SEE page nine

Seah hy ap pene ey Se



PAGE 2, WEDNESDAY, APRIL 4, 2007

THE TRIBUNE



FNM has 74 per cent a
of vote in radio poll |



| a celebration of nature

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

RULES

1 Family Guardian's Annual Calendar Photo Contest is open to all photographers. The title for the company’s 2008 calendar will de
“A CELEBRATION OF NATURE.” Photographs may be of any subject (animate or inanimate) or a scene which is a striking example of nature as found in
The Bahama Islands. All photographs must be taken in The Bahamas. ‘

2 DEADLINE FOR ENTRIES IS MAY 31, 2007.

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

4 Allentries must be accompanied by an official entry form, available at any Family Guardian office or when published i in the newspapers.

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

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

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

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

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

reserves the right to use such in the future.

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

11 Previously published photos are not eligible.
PHS SS SSS SS SS SS SS ee































2008 CALENDAR PHOTO CONTEST ENTRY FORM jl
Photo by Tim Higgs NAME
‘ : Family Guardian's daavetucédevenuseduaubninte bavucsuwhataibsupecacdasevocaccsodasebasacgug sesadoneessGautenssecateseeadnessacecsssedecssedesss! i
Calendar TEL BUSINESS ..icis..cc2ecc hed cecicscscessoen HOME, .....-cccccssssssccecscseceseeessseseeeeneseee F
PO-BOX ticiccee! cL STREET ADDRESS. ....ssccicccccescssceccecscssceccesssnnecnsensersssscediee j
i SIGNATURE ccsicco ee ees Ba cosas hescd dence spasipnctctcdedulonnsotoossnnnecasssvdionoryromstenneabuquan



DATE. i323... dats Aah
i

| agree that in the event that one or more of my entered photographs is selected as a winner in the 2008 Family
Guardian Calendar Photo Contest it wil become the property of Family Guardian Insurance Co. Ltd., and
| assign to Family Guardian all rights pertaining to its use in any way whatsoever. | also confirm that the
photos entered in this contest were taken in The Bahamas by the undersigned and have not been q
previously published. a

Return with photos to:

Calendar Contest, Family Guardian
Corporate Centre, Village & Eastern Road
Roundabout, Nassau, Bahamas

ENTRY DEADLINE: MAY 31, 2007

(maximum of 5) i

family guardian’s calendar photo contest.



























Platinum




4 Bronze
Bahamas Ministry of Tourism | =
Tropical Shipping Co. Ltd. 5 Seaside Real Estate

HG Christie Ltd.

Gold Sam Gray Enterprises
Bank of The Bahamas.

BTC Gibson, Rigby and Co.

Kalik Eddie’s Edge Water

‘Club Peace & Plenty
G&G Shipping Co. Ltd.
wt Coral Springs Water Company

Ron Ricardo
Fireworks Unlimited



Silver
‘ Donors
Four Seasons Resort
Scotiabank Bahamas Ltd.
Paim Bay Beach Club
Sky Bahamas Ltd.
British American Insurance
Chat ‘n Chill *
Airport Car Rental

February Point
Crab Cay Development
JS Johnson Insurance Co. Ltd.
Exuma Waste Management
Sky Limo
Exuma Chamber of Commerce





@ HUBERT Ingraham

â„¢ By RUPERT MISSICK ur
Chief Reporter
AN INFORMAL poll

launched by the radio station
More 94 FM has the FNM
ahead of the governing PLP
with 74 per cent of the vote.

As of yesterday, 631 persons
had taken part in the poll.

Of that number the BDM got
12 votes, the PLP 151 and the
FNM 469.

The station normally has poll
questions posted on its website,
and a similar question has
appeared there for the past few
months.

However, as station president
and general manager Galan
Saunders explained, the text

messaging poll gives them more .

of an opportunity to ensure that
the process is as accurate as pos-
sible.

“We realise that it is difficult
to control things on the internet.
Even though we blocked cer-
tain IP addresses from voting
twice we wanted to find a more
efficient way and a more objec-
tive way for people to vote
through a means that would
cause people to feel more
secure about voting and not feel
like someone is watching what
they are doing,” he said.

Receiving regular text mes-
sages, Mr Saunders said, allows
them to do just that as phone
numbers can be blocked from
being allowed to text again.



. Mf PERRY Ciristie

So, technically, everyone who
has voted so far cannot vote
again, unless they gain access
to another cell phone.

While the station does not
claim that the poll is scientific in
any way, it is still considered a
rewarding exercise and an inter-
esting gauge of the mood of the
station’s listeners at the very
least.

“We realise that the margin
of error can be as high as 50 per
cent but even with that, the
results are very eye-opening,”
Mr Saunders said.

The poll continues until next
Monday. To participate, listen-
ers are asked to vote for the
party of their choice by texting
either “Vote FNM” to 242-425-
3005, “Vote PLP” to 242-425-
3005 or “Vote BDM” to 242-
425-3005.

“Every day we are going to
ask people to text in their votes.
So we’re going to give these
guys a full seven days to get
their votes in for the party of
their choice,” Mr Saunders said.

The poll was launched from
the station’s talk show “Real
Talk Live”, hosted by Jeff Lloyd
as a way for the show’s listeners
to participate.

“We wanted people to have
more ways of participating in
the show instead of listening to
chronic callers and so forth or
just the various topics that come
up on a day-to-day basis,” Mr
Saunders said. 3



aes

THE TRIBUNE





© In brief

FNM plans
protest after
radio show
is pulled

THE FNM plans to hold a
protest against victimisation in
Freeport today.

The protest is said to be in
response to the pulling of the
Sunday morning religious radio
show of Rev Frederick
McAlpine following his speech
at the FNM’s introduction of
candidates in Nassau last week.

The protest will take place in
front of the ZNS office at the
BTC building in Freeport at
10am,

Warning over
mosquito
from health
professionals

CARIBBEAN health pro-
fessionals spearheading the
health preparedness of the
region for Cricket World Cup
2007 are appealing to visitors
and locals to safeguard them-
selves against the dengue car-
rying aedes aegypti mosquito.

Drawing attention to the
global alert against dengue
fever, representatives of the Pan
American Health Organisa-
tion/World Health Organisation
(PAHO/WHO) have advised
the CARICOM IMPACS
Regional Communications Cen-
tre that at present there is a
global alert against the threat
of dengue fever.

Dengue fever, which is
caused from being bitten by the
disease carrying mosquito, has
been under control in most
Caribbean countries but its
global prevalence places the
region at risk with the thou-
sands of visitors here for CWC
2007.

The appeal is of special sig-

_ nificance to visitors from crick-

eting nations in Asia where the
aedes aegypti mosquito is
infecting people with a disease
called chikungunya.
Accordingly, health officials
are encouraging visitors from
that part of the world to be



gh recent, years, PAHO and
the Caribbean Epidemiological
Centre have been working in
partnership with public health
officials in Canada and the
European Union to eradicate
the aedes aegypti mosquito and
the spread of dengue disease in
the region.

Sustained control initiatives

include enhanced surveillance

and vector control campaigns
with increased spraying around
air and seaports, hotels, and
other'visitor high traffic areas.

There are four distinct, but
closely related viruses that cause
dengue.

Recovery from infection by
one provides lifelong immunity
against that serotype but con-
fers only partial and transient
protection against subsequent
infection by the other three. .

Talk is set
on National
Training
Agency

OUTGOING MP Agatha
Marcelle will discuss the
National Training Agency, a
new initiative from the Ministry
of Youth, at the next meeting of
the Rotary Club of South East
Nassau.

The National Training
Agency is an umbrella organi-
sation set up by the government
to facilitate, co-ordinate, assess
and monitor technical voca-
tional education and training in
the Bahamas.

It aims. to increase the capac-
ity of individuals to participate
effectively in the workforce —
thereby improving their pro-
ductivity, employability and
quality of life.

She will outline the benefits
of the NTA, which include a
sustainable, appropriately
trained productive and flexible
labour force that is able to
respond to the demands of the
country’s developmental goals
and its efforts to be globally
competitive.

The meeting will take place
today 12.30pm today at the East
Villa restaurant.

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

ye CeO
822-2157 iat



LOCAL NEWS

WEDNESDAY, APRIL 4, 2007, PAGE 3

Laing: I’m not looking for



another job in case I lose






FNM candidate for Marco
City Zhivargo Laing has refut-
ed claims that he has been
seeking a new job because he
expects to be unsuccessful in
the upcoming election.

Mr Laing called it one of the
PLP’s “nasty tricks” and put it
down to the enormous pres-
sure the governing party is feel-
ing in the constituency he has
been nominated to contest.

The candidate called the
claim that he has applied for a
job, been interviewed and is
set to be trained in Nevada
“laughable” and “an outra-
geous lie”.

Mr Laing says that he is con-
fident of victory and everything
that is happening on the

Election (Â¥)
COUNTDOWN



@ ZHIVARGO Laing

ground bolsters his confidence.
In fact, he said, he regards

Candidate accuses PLP of ‘nasty tricks’



the PLP's attempt to trick the
electorate as confirmation that
things are going extremely well
for the FNM — because had
they been confident of victory
the governing party would not
need to spread such disinfor-
mation.

Mr Laing further noted that
the only job he is now applying
for is to be the member of par-
liament for Marco City and
that his interview with the vot-
ers of Marco City has been
going extremely well.

The circulated e-mail, under
the title “knowing he will lose,
Laing looks for a job”, said:
“Zhivago Laing has reportedly
filled out an application for a
job at a new business opera-
tion in Nassau and has report-
edly already been interviewed.

“Insiders say Laing's long suf-
fering wife has warned him to
find a good decent paying job

Police chief: my door is always open
for people to voice their complaints

A POLICE chief has urged
families with grievances over
alleged police brutality to make
their complaints known to him
personally.

Chief Supt John Ferguson,
commanding officer of the
south-eastern division of New
Providence, said: ““My door is
always open.”

The officer’s offer came after
parents in the South Beach
area complained that a “rogue”
policeman was making their
lives a misery. They said he
was beating teenage boys and
drinking on the job.

Chief Supt Ferguson said he

knew of no such behaviour by
any of his men but was always
accessible to people with com-
plaints.

“If there is any complaint of

police brutality in this unii, |
don’t know of it,” he said. “But
in this division we run a tight
ship regarding regulations and
the treatment of prisoners.
That goes across the board.”

Chief Supt Ferguson said a
police complaints and corrup-
tion branch, which he used to
head, handles public grievances
for the entire force.

But he said he was also will-
ing to hear complaints in his

‘bEas er Lillies and Callalilies
» Lovely Potted Orchids:

a AER ny Ea Wien

atom gl

own division. “Any member of
the public can come and see
me. My door is always open,”
he added.

However, he said parents
can often become aggrieved
when their sons are questioned
about break-ins in the area.

“People complain about
crime, but when their own chil-
dren are picked up for ques-
tioning they cry foul,” he said.

But he stressed that his was a
community-based police sta-
tion. “They can come in and
speak with me and let me
know what their concerns are,”
he added.





because she fears after the gen-
eral elections, they will be back
to square one all over again.
“Meanwhile FNM top gener-
al, Mike Edwards, is still telling

Laing's ingratitude and unchris-
tian like conduct.

“If Laing gets the job, he will
be shipped off for training at
the company's Nevada head-

friends how shocked he is over quarters in September.”

Fabulous Shopping
at

"Matson Décor

C/
&

TCHARD DESIC
Limited

CALE, tN GROUP

Nassau’s Premier Store

Rome Sas (ita eens

Baypar]! Building on Parliament Street
Telephone: (242) 323-6145

Harbour Green Centre, Lyford Cay
P.O. Box N-121, Nassau, N.P., Bahamas
Telephone: (242) 362-6656, Fax: (242) 326-9953
email:pritcharddesigngroup @coralwave.com

yourka bh ile:
the San orth de fot future,

"The Mall-at-Marathon
BOX OFFICE OF OPENS AT 10:00 / AT 10:00 AM DAILY

EFFECTIVE APRIL 04TH, 2007

memos ee | om (0 [i Yan [em
icwconcrs ew | Lc fs |
fweeTTHEROBNGONS A | OG EWA | 65 | oo |
oso Tm fk fe | [en |
pei | AG as | WA | 800 [os | |
wee fas i en
revcwmrmnone 1 | (eg [ua |e |e [ow
euro la fe a |
rmewsweee? [a |v fe [eles [ree
user Tn [aa Ln

eewron tf es Jin [if Les |
feo ee

OT

eT Taw

ea

neuroma Tia [a [um [ea | |

eRe a
| 6:00 | 8:20 | 140







PAGE 4, WED

, 2007

une Limited

THE TRIBUNE -

¢ >

PLP FNM and a



e

-N IS JURARE IN VERBA MAGISTRI
rear to The Dogmas of No Master >,
UCH, Publisher/Editor 1903-1914 =
5 UCH, Kt, O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.
ditor 1919-1972
g Editor 1972-1991 EDITOR, The Tribune. LETTER A Integrity - Can we trust you
to stand up for what you say
EI] ‘ARRON, C.M.G., M.S., B.A., LL.B. THERE are many issues —_- even if the party says differ- ©
Publisher/Editor 1972- facing us asanationbutnone [GieeS@ltglewiptcancelenmsig ently.
as important as the struggle Education — Whereas Chris-
tween t icting world eee
aily Monday to Saturday views. As Charles Colson said _ Gambling ~ We can have {4 the public cdvedion 5 :
in his book “Faith on the ©¢nomic prosperity without tem today the Christian God, »
. Box N-3207, Nassau, Bahamas line”: having to resort to gambling | prayer, and biblical creation |
Insuranc ing., P.O. F-485, Freeport, Grand Bahama “On one side are those who &0¢ all of its social ills. are slipping away.
cleave to a Judeo-Christian Family — vA aaa ° Economics — Be fiscally
ELEPHONES understanding of absolute er a kids — no sweet- responsible. As a country not
Sw irculation and Advertising) 322-1986 ate a Discipline — Greater forms to accumulate such debt that,

Airpor

Manager - (242) 502-2352
epartment - (242) 502-2387
Fax: - (242) 328-2398

d Bahama: 1-(242)-352-6608
t fax: (242) 352-9348

major embarrassment

on two central command-
ments — love for God and
love for people. On the other
side are those who believe
truth can be defined by each
individual, with a correspond-
ing view of life and culture
based on individual choice —
‘what’s right for me?’ These
two diametrically opposed
perspectives face off on issues

of discipline allowed in the
home and schools — spank-
ing when wrong.

Capital punishment — You
do the crime, you pay the
time. You take a life and you
pay with yours.

Pornography — Keep from
any public expression.

Sexual offenders — Adopt
laws similar to “Jessica’s law”
in US.

our grandchildren will never |
be able to repay.
Abortion — Make terminat-:

ing pregnancies by abortion °- v

illegal.

I plan to mail these ques-
tions to each candidate so as
to get their answers and then”
have the local papers publish
them for all to read.

The nation needs to iehow |

4

where you stand on these. ’

LAST WEEK’ in- clear that they would not start the Phase III like abortion, the militant . most important issues.
ister Glenys Han d by expansion until government agreed to certain homosexual agenda, the cause Church and State - Keeping
the comments of dor “infrastructural improvements” at the airport. and-cure forecrime.aiedical. lae state out of the church, ANDY KNOWLES o
John Rood about rity They wanted this not just for Kerzner Inter- etiics. education antl eco. . mot keeping the church out of Nassati "a
standards at Lynde Air- national, “but for the sake of tourism in the et : the religious and moral wel- ea
port. Bahamas nomics.” furor the. country April 2, 2007.

Speaking to t era Although Prime Minister Christie called Mr So the big question for us ,
farewell luncheon otel, Kerzner’s airport comments a “major exagger- as Bahamians is which party e
Mr Rood said th e to ation”, he undertook to do something about and candidates best supports
extend its pre-clea air- the problem. In fact he promised to produce us as a Christian nation. At x p erie i } Ce a
craft until security dat an airport that would be the “gem of the this point in our nation’s his-
the international a Caribbean.” A gem that would match Kerzner tory we as a people have to C é

Himself a pilot, ave International’s high class resort. _ decide which course is best for
private aircraft pr fore In good faith, Kerzner International started us “If we choose to.follow out
his return to the U life. Phase III. h ae l ‘Il b

However, in th ears On March 28 — four years later — the Cove, C ristian Valles Wee Wie A j 7
here he has seen n Kerzner International’s “all suites” hotel had its nation that is accountable to

Ambassador ~ tive soft opening. The official opening will be some- God who alone can meet and ro e i I } S acl i } g
that government a will ‘time in May. supply our needs. If we go the
be given the autho able Phase III’s water park, “Aqua Adventure”, route of each person deciding
for the security at has been opened as has Dolphin Cay and the what is right based on their mM

He was also c ma- nightclub. own view, we will be a peo- e a a aS’
tional airport’s ma 1 The convention centre will soon open. The ple who will experience the

We understand al is final segment of Phase III — the condominium wrath of God rather than his EDITOR, The Tribune.
the only airport i eets hotel — will be finished by December or early bicse, We Ee the
Homeland Securit January. This will complete the more than one POSS an eee, Uae

However, inste the billion dollar development. strongest moral and righteous AS A law-abiding citizen in my 60s, I wish to record an experi-
airport was a cont Mrs Kerzner International has honoured its nation in the world if we elect ence over the weekend which, I feel, casts light on two problems .
Hanna-Martin was art- agreement. However, the airport still remains leaders who are willing to now facing the Bahamas — declining tourism and rising crime, both ;,
ing ambassador “ /or one of the “worst airports in the world.” make decisions that are based covered in The Tribune over recent weeks. .
appropriate to pub sue Since Prime Minister Christie’s promise to on a Judeo-Christian under- My wife and I called at a roadside water depot in Nassau to ,
of airport security hen deliver a “gem” of an airport, there have been standing of absolute truth. collect our fortnight’s supply, which amounts to four large bottles. -.
he is or ought to be ere consultations, meetings in lawyers’ offices, flights We need to ask some hard The ee Hab to be very oe and would have been |,
has been establish , on to and from Vancouver, break-downs and questions. extremely frig tening for anyone less robust than ourselves.
which his office i his .-.,.restarts, until on April 11, 2005 the Airport I would like to know where We were confronted by a large, uncouth and thoroughly dis- ,
seeking to address ‘ved Authority announced that “in a matter of Beck im ddual sands oa ihe agreeable character whose job was to sell water from a hut. We had

weakness in airpor

months” the airport would be under new man-

never seen him before.

Yes, it is too ba that agement pending the “successful outcome of _ following questions that will This vile creature took our four bottles and then proceeded to ‘
unless this governi. blic, negotiations” between government and Van- help us vote for individuals — areue that we had given him only three. This blatant theft of what-’
nothing gets done. ing couver Airport Services. That was two years who can provide “God fear- ever the fourth bottle was worth was accompanied by several hos- ~
when their doors a ago. ing” leadership. tile grunts and a manner which was very intimidating.

The airport has for _ It was only on Friday that government When a candidate comes to During the ensuing argument, he threatened to punch me, moved, ”
hia Co ee ee your house ask him/her to __ threateningly towards me, and was stopped only by the intervention |’

It was in 2003 w lan- ‘the responsibility of fi onstorine the airport neo were IDEy Stand On ning Phase III at t hey into a world-class facility to the Canadian com- ae 7 we tituti they led Tim away, sneriue picked upia chunk of wood and began
made it clear that t ible pany. ; Sta eee ae —, 12 A aaa aa eae we gt ; : oie
without two things a No one knows what other red tape the new Keep enshrined in our consti- J am prepared to accept that this disgusting lout was either high
was an improved i company will have to go through with govern- tution that we abide by Chris- on drugs or mentally retarded, but either way he ought not to ,

At the groundb rzn- ment before it can start the transformation exer- tian values. Not spiritual val- have been in charge of a water depot where he has face-to-face deal-|_
er International’s and cise. : ues, but Christian values. ings with the public.
that same year, an ster However, Ambassador Rood echoes the cries Marriage - Between a man The water depot in question is in a tourist area. My wife and i
was forced to res riti- of both Bahamian and visitor when he says: and women only. Have it though residents, were dressed like tourists in shorts and casual —
cism that while th rful “The number one complaint I get from those enshrined in our constitution Shirts.
destination and pos e, it departing the Bahamas is the condition of the as such Had we been visitors, we would have taken away this brute’s,
has “one of the w Id.” airport and unfortunately that’s the last thing a ' Pilaiasia NE snarling face as our abiding i image of the Bahamas.

: . . ry to play
Five months earlie e it visitor remembers.” For the water company, this incident has already proved costly.



‘98 HYU
‘00 H
‘01

"04H



God and decide when some-
one should die.

We will never visit that depot again, we’ll never buy their water ©
again, and their name is now synonymous in our minds with this foul ,
creature and his disgusting behaviour. :
With people like him on the loose, it’s no wonder that crime fig-’
ures climb while tourism figures drop. He needs to be dealt with

before he hurts somebody.

CONCERNED CITIZEN

2 DAYS ONLY!)

Wendy’s Team
Recruitment Drive

when?

time?

Wednesday & Thursday
April 4 - 5, 2007 ;
9am.=1 p.m,

rl

Vee LS

oo ~ DN!

where? Wendy's Marathon Mall




ao “HOME OF CUSTOM-MADE DRAPERIES”
05H _.. WULFF ROAD - 323-6410 . :
Only 5, Why Join the Wendy's Team:

Competitive Salary
On the Job Training
Management Opportunities
Great Benefits
Flexible Hours

‘02 SUZ
‘03

‘05 SUZ

‘89 TO

‘05 T

2Q

#1A
EAST SHIRLEY

Visit our showroom at Quality A




Triple SHOCrS.csvessresensssvesosecsnesecessnverseosusssesebesacutenseis
Cotton, Moire Double Drapes...
Triple Cotton, Moire Drapes..... oe
Double Short Drapes 63” LOng..........ssssscssscsesssees
Double Macramae Verticals 2 x 49” Long.$100: 00
Wood Poles and Wall Scounce Available
10% OFF Rods up to 312”

DON’T MISS THEE SAVINGS!
Head down to Studio of Draperies on Wulff Road

Monday - Thursday 9am - 5:30pm
Saturday: 9am -3pm_ *




I= ew ewe e222 ene an









Interested persons should bring valid
identification and police record.












LIMITED
AS
° 325-3079

Queen's Highway * 352-4122




YVS8~ee eas .

Do what tastes right?






THE TRIBUNE

WEDNESDAY, APRIL 4, 2007, PAGE 5



Civil servant calls

for ‘justice’ after
repeatedly being
denied promotion

O ln brief

Chavez warns
state may
seize private
hospitals

@ VENEZUELA
Caracas

PRESIDENT Hugo
Chavez warned that his gov-
ernment could take over pri-
vate hospitals if they continue
raising prices for care, accord-
ing to Associated Press.

Chavez made the remark
during a speech Monday at
the presidential palace, saying
if private hospitals “keep
speculating, increasing prices,
they will have to be regulat-
ed”.

“Any private hospital that
doesn’t comply with the reg-
ulations that are made, if nec-
essary, will have to be nation-
alised,” Chavez said. “We
cannot allow there to be a
shameless looting using such
important services as health.”

A state takeover of certain
private hospitals, if carried
out, could significantly
expand Chavez’s nationalisa-
tion drive which already
includes concerns such as
electrical companies,
Venezuela’s largest telecom
and lucrative oil projects in
the Orinoco River basin.

Venezuela has a two-tiered
health system under which
wealthier, insured patients
often can afford prompter,
better treatment at private
hospitals. Patients at public
hospitals regularly must wait
weeks — or sometimes
months — for surgeries.

Chavez has expanded the
public health system, howev-
er, building new clinics, refur-
bishing hospitals and sending
thousands of Cuban and
Venezuelan doctors to live in
poor neighbourhoods and
provide free health care.

During his speech, Chavez
called on Cabinet ministers
to study possible price con-
trols for medical services, the
same way his government set
price controls on beef sold by
slaughterhouses.

“It may bother them, but
it’s our responsibility,”
Chavez said. “That’s called
governing.” —

Chavez regularly accuses
private hospitals of charging
patients too much and says
state health care is on track to
surpass them in quality of
care.

“We are obligated to pro-
tect all of the population,
including the middle class
and also the rich,” Chavez
said.

Previously government
officials had said there were
no particular plans for pri-
vate hospitals to be nation-
alised, although last month
Chavez ordered the expro-
priation of a hospital man-
aged by Venezuela’s Anti-
cancer Association, saying
the nonprofit organization
failed to meet its obligations
to the public.

Chavez also warned that
private schools need more
regulation, though he did not
elaborate. “The same thing
happens with education, pri-
vate sectors that according to
their whim raise costs, prices,
tuition... must be watched
over, regulated,” he said.

TROPICAL
EXTERMINATORS
MVR UU
PHONE: 322-2157

Pee ees

WEDNESDAY,
APRIL 4TH

6:30am Community Page 1540AM

8:00 Bahamas @ Sunrise

9:00 Bullwinkle & Friends

9:30 King Leonardo

10:00 The Fun Farm

11:00 Gospel Video Countdown

noon ZNS News Update

12:05 Gospel Aficionado

1:00 Legends: Vickie Knowles

2:00 Video Gospel

2:30 Turning Point

3:00 Paul Lewis

3:30 Don Stewart

4:00 Lisa Knight

4:30 Cybernet

5:00 ZNS News Update

5:05 Battle of The Brain

5:30 The Envy Life

6:00 A Special Report

6:30 News Night 13

7:00 Bahamas Tonight

8:00 Movie: Joseph Pts. 1 & 2

10:30 News Night 13

11:00 The Bahamas Tonight

11:30 Late Night Movie: Joseph
Pts. 3 & 4

11:30 Immediate Response

1:30am Community Page 1540AM

NOTE: ZNS-TV 13 reserves the
right to make last minute
programme changes!



A SENIOR civil servant is
calling for justice, claiming he
has been denied promotions
and other benefits due to him
for the last 20 years.

He says the government’s
failure to promote him has left
him up to $100,000 out of pock-
et.

Alkin Delancy, who regards
himself as a Ministry of Finance
stalwart, claims he has suffered
the indignity of seeing less expe-
rienced staff promoted over him
for reasons he can’t explain.

“T have always been a dedi-
cated and committed worker,”
he told The Tribune. “No-one
has ever found fault with my
work, yet I am still denied the
position and salary due to me.”

Mr Delancy, a finance and
accounting officer in the trea-
sury, has made repeated
attempts to get senior officials
to review his situation, so far
without success. He claims lost
salary increases have cost him
between $60,000 and $100,000
to date.

Now he has approached The
Tribune in a desperate attempt
to get what he regards as his
due reward for many years of
“sterling” service.

- “T want ists he said, “It is

not just a matter of promotion.
I have lost many other benefits
and opportunities as well.”

Under civil service rules, offi-
cials gain promotion on the
basis of certain criteria, includ-
ing academic and professional
qualifications and length of ser-
vice.

Mr Delancy claims he has ful-
filled all that was required of
him and also demonstrated
management skills required at a
higher level.

Colleagues

But he says all his entreaties
have gone unheeded. Now he
has produced a list of younger,
less experienced colleagues who
he claims have been promoted
over him to higher positions.

“I feel I should have been
promoted to a more senior posi-
tion, from finance officer grade
three to grade one, seven or
eight years ago,” said Mr Delan-
cy, a family man.

“am puzzled as to why this
has not happened. I think it’s
because I questioned why I am
not being considered. I guess
that has worked against me.”

He said junior colleagues had

been granted opportunities
denied to him while he was left
waiting for promotion that was
his by right.

Over the last few years, Mr
Delancy has written repeatedly
to various treasurers. But each
time, he claims he has had no
response.

In one letter, he pointed out
that he had been in the public
service since 1982 and had been
writing to successive treasurers
since the late 1980s about
alleged unfair treatment.

“In July, 2000, I wrote to the
Minister of Public Service, Mr
Tommy Turnquest, and was
promised that he would look
into the matter, but he was
transferred before I received a
response,” said the letter.

He then asked what he had
to do to get promoted. “What
do I have to do to get justice
and a fair assessment? Why
can’t corrections be made for
me, especially if there was an
oversight?”

Mr Delancy said he had sat in
as officer-in-charge several
times and shown senior man-
agement potential. “At present,
I feel as if I am being victimised
and discriminated against for
whatever reasons I do not





@ ALKIN Delancy claims he has been passed up for promotion

in favour of less experienced staff

know, nor have I been told,”
his letter added.

Yesterday, Mr Delancy said
he had been denied his rights
under three treasurers. “The
present treasurer has the right
to correct any wrong by former
treasurers, but she has not done

0,” he said.

He also criticised the Ministry
of Public Service, saying: “It is
responsible for seeing that
everything is done correctly
according to general orders to
make sure the public service
works properly.

“But I have never eesivea
anything in writing or verbally
about my situation. Also, the
Public Service Commission
under Bishop Samuel Greene

is supposed to see that justice is
being done, If it was doing its
job properly this would not
have happened.”

Mr Delancy said the accounts
system in general was faulty
because he was not the only vic-
tim of injustice. He cited the
case of an officer with an asso-
ciate’s degree who had been
promoted over better qualified
staff.

“T have shown proof of offi-
cers who have been favoured
over me,” he added, “I have
named the people concerned in
my letters.”

Attempts to contact the trea-
surer at the Ministry of Finance
were unsuccessful up to press
time yesterday.

Straw vendors call for evangelists to tackle crime

@ By ALEXANDRIO MORLEY
Tribune Staff Reporter

THE president of the Straw
Vendors’ Union is calling on
religious leaders to combat
crime in the Bahamas by tak-
ing the fight “to the streets”.

According to Diana Thomp-
son, in the past, evangelists
organised nationwide street
meetings where persons would
air grievances in public about
increases in crime.

‘She said that this is still the
most effective way for crime can
be combatted.

Ms Thompson’s appeal came

’ after police raised concerns that,

at the current rate, the murder
count this year may surpass the
60 homicides recorded in 2006.

The first quarter of 2007 is
coming to an end and there
have already been more than
20 murders since January.

On Sunday, while speaking cn
a local radio show, Police Com-
missioner Paul Farquharson said
there has been an almost 50 per
cent increase in the number of
murders compared to the same
period last year. However, he
said, more than 56 per cent of
these have been solved.

The new trend of burning
bodies after a murder has also

become a great concern for
police, the commissioner said.

“Most of the deaths are by
gunshots, that is an increase in
the activity we see centred
around murder. The murder
victim profile is the single,
employed Bahamian male
between the age of 16 and 25
residing generally in the black-
belt area between Village Road
and Nassau Street going south.”

Police press liaison officer
Assistant Superintendent Wal-
ter Evans pointed out that there
are other deaths, which have
not yet been classified, which
could drive the murder count
up even higher if they are offi-
cially labelled homicides.

“We can’t really say exactly at
this point how many cases [are
outstanding] because there are a
number of matters being looked
at. We are waiting for autopsy
reports and also for continued
investigations into several mat-
ters so we will be able to state
whether they will be upgraded.
We don’t want to say anything
prematurely so we will await
the results of the autopsy
report,” he said.

Meanwhile, Mr Evans said,
police are doing their best to
curb the violence.

Yesterday, Ms Thompson








EASTER IN
ELEUTHERA

The Island Link

VEHICLE PASSENGER
FERRY SCHEDULE
(AIR-CONDITIONED PASSENGER CABIN)











DEPT. NASSAU

THURSDAY APRIL 5TH

ARRIVE HATCHET BAY



6:00PM
9:45PM










DEPT. NASSAU

FRIDAY APRIL 6TH

ARRIVE HATCHET BAY





7:00AM
10:35AM














DEPT. HATCHET BAY
ARRIVE NASSAU

DEPT. HATCHET BAY
ARRIVE NASSAU

RETURN MONDAY APRIL 9TH



8:00AM
11:35AM

6:00PM
10:15PM












Passenger: One Wa
Vehicles: Cars One

ne

RATES
$40.
ay $150.
Trucks & Suv’s: One Way $175.
WITH DRIVER

__ FOR FURTHER INFORMATION

ae JED MUNROE: 242-551-2542
CONRAD SWEETING: 477-6162
THE ISLAND LINK TICKET BOOTH AT EASTERN END POTTERS CAY DOCK



Round Trip $70.
Round Trip $250.
Round Trip $300.






st
BEE




told The Tribune: “When I was
a little girl and there was one
murder, Sister Lane and others
would go on street meetings.
“Every church from Bethel’s

Colors:
Black
White
Red

Pink
Lavender
Bone

Rosetta St.

to St John’s would send their
evangelists out on street
meetings every different day
and that’s the only way that

we can educate the people so

that the violence can stop.”

The 87-year-old grandmother
said that her heart is hurt every
time she hears news about
another violent crime.

Ph: 325-3336





PAGE 6, WEDNESDAY, APRIL 4, 2007

THE TRIBUNE



KEMP’S FUNERAL HOME LIM

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

ee ag

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, Sth April,
2007 at llam.











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 and Pevia Antonas,
Roland Burrows, Kendal and Debbie
Munnings, Nina Berdanis, Jackie Sawyer,
Bridget Duncanson, Shirley Francisco,
Christina Moretti, Dejasson Orvil, Terry
Jolly and Barbara Harris.


















Arrangements by Kemp's Funeral Home
Limited, 22 Palmdale Avenue, Nassau,
The Bahamas.



LOCAL NEWS

) Three men are charged



with double murder

lm By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Three Hait-

ian-Bahamian men were
arraigned on Tuesday in the
Eight Mile Rock Magistrate
Court in connection with the
shooting deaths of two men in
the Pinder’s Point area.

Appearing before Magistrate
Debbie Ferguson were Allan
Fertile, 29, of Barkentine Drive,
Freeport; Roden Francis, 35, of
Charles Vincent Street, New
Providence; and Dennis Dele-
veaux, 31, of Gold Coin Lane,
South Bahamia.

The men were escorted in
three separate police vehicles
from Freeport, arriving at the
court around 2.30pm for their
arraignment.

Several armed police officers
were positioned strategically
outside the building, where a
small crowd had assembled to
get a glimpse of the accused
men.

The men were charged with
the murders of 30-year-old
Maxwell Nonome, and 24-year-
old Elie Jean, both residents of
Lewis Yard.

It is alleged that the Fertile,
Francis and Deleveaux, being
concerned together, intention-
ally caused of the deaths of Jean

and Nonome on-March 29 at

ee

Hi DENNIS Deleveaux, (centre) a resident of Gold Coin Lane,
South Bahamia, is seen being escorted by police to Eight Mile
_ Rock Magistrate Court on Tuesday for a his arraignment.

Pinder’s Point.

The trio was represented by
K Brian Hanna. They were not
required to enter a plea to the
murder charges. Inspector Wal-
ter Henderson is the prosecutor.



During the arraignment, two
of the accused, Francis and
Deleveaux, who spoke with an
American accent, told Magis-
trate Ferguson that they were
concerned about their safety at

Fox Hill Prison. They said they
had received death threats from
inmates.

Fearful

They said they had been told
by a group of inmates that came
in from Nassau to Central
Police Station in Freeport that
some inmates who are friends of
the victims are waiting to kill
them when they arrive.

They wanted to know what
section of the prison that they
would be remanded to, explain-
ing that threats were mainly
coming from the maximum
security wing, the H block and
the south blocks,

Magistrate Ferguson said that
she did not know where they
would be kept. She then
instructed police to ensure that
no threat or harm come to the
men when they leave Freeport.

“They are in the custody of
the state, and the books will
reflect what they have said to
me and I want to will make sure
the message goes to the (prison)
chief,” she said told officers.

Magistrate Ferguson
adjourned the matter to June
28 for a preliminary inquiry to
determine if there is sufficient
evidence against the men for
trial in the Supreme Court.

Retraction of Nautilus

bottled water recall story

THE statements published
in The Tribune on Monday,
April 2, in the article enti-
tled “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-

| 2007






Front Air Bags

Radio/CD Player



Bahamas Bus & Truck Co: Ltd.

‘Montrose Ave.

CALIBER

One look at its squad-up, broad-shouldered stance and you will know that this
one is undoubtedly different.

Air Conditioning

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
committed to producing
their internationally certi-
fied, world-class product,”



2.0 4Cyl. DOHC 16 V
Automatic Transmission
Power Windows and Locks





$28,785.00

said a statement 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.

SQ QQ QQ QQ, > ’”.-0:—l—7[. hiIQQK"°—:v—°"°"oF"°'h_l. .

Phone: 322-1722/Fax: 326-7452



.”

2

%



THE TRIBUNE

LOCAL NEWS

WEDNESDAY, APRIL 4, 2007, PAGE 7



ahamas is urged
to call for Haiti
debt cancellation

@ By RUPERT MISSICK Jr
Chief Reporter

A LOCAL human rights
organisation is calling on the
Bahamas to use its internation-
al influence to press for the
compete cancellation of Haiti’s
debt.

The Bahamas Human Rights
Network, at its most recent
meeting, called for this action
from the Bahamian government
and for the immediate cancel-
lation of Haiti’s multilateral
debt in response to a decision
by the Inter-American Devel-
opment Bank to delay debt
relief for Haiti until at Teast
2009.

The resolution claims that
nearly half of Haiti’s debt was
incurred through loans made
during the regime of Dr
Francois (Papa Doc) Duvalier
and other dictatorships that
used the money to finance “lav-

ish lifestyles and prop up repres-
Sive regimes”.

Because of this, the group
says that it is “unconscionable”
for the people of Haiti to suffer
under the weight of a debt
which did not benefit them or
their country.

“The relief would translate
into a greater amount of
Bahamian public money that
could be spent on reducing our
own national debt given that a
portion of our national expen-
diture goes into services result-
ing form Haitian migration to
the Bahamas — services that
would become increasingly
unnecessary as more Haitian
public money (available
through debt relief) would be
spent on improving the condi-
tions in Haiti that force Haitians
to abandon their home,” said
Michael Stevenson, BHRN’s
vice-president.

The resolution affirms the

efforts that are being made by
the Inter-American Develop-
ment Bank, World Bank and
International Monetary Fund
to cancel Haiti's debt.

However, it also expressed
concern that the process is mov-
ing too slowly.

“Haiti’s continued economic
distress over the next two or
more years will have dire con-
sequences for the Haitian peo-
ple as they wait for the
process... to reach completion
to become eligible for 100 per
cent cancellation.

“Meanwhile, Haiti will con-
tinue to pay $60 million per year
to service debt, money that
would be better spent tackling
Haiti's dire health and educa-
tional problems,” it read.

BHRN member Daniel
Schweissing pointed out that
Haitian migration is nota
Bahamian issue but one that
affects the whole region.



a CHILDREN joke with a UN Beastial peetecnes as Ae sate a friendly s soccer fice
between locals and Brazilian peacekeepers in the Cite Militaire neighbourhood in Port-au-Prince
last week. Human rights activists say that the siiuation in Haiti would be improved by cancelling
the country’s debt.

“If the Bahamas wishes to
stem the flow of Haitian immi-
grants to its shores, it can’t
expect to do so by limiting its
efforts to round up and deport
undocumented migrants. It
must work with the interna-
tional community to improve
the economic conditions of
Haiti so that would-be migrants
will be more inclined to remain
at home,” he said.

The resolution states that a
failure to address the problem
in Haiti will result in the con-
tinued flight of Haitian migrants
to neighbouring countries like
the Bahamas.

“I'd say that this debt relief is
very important for Haiti
because the Haitian people are
in dire need of basic infrastruc-
ture and security so that they
can begin down the road to a

(eho AP/Ariana Cubillos)

stable and sustaining economic
model,” said Tamico Gilbert, a
BHRN member who helped
draft the resolution.
“Immediate and uncondi-
tional debt relief for Haiti is
really the least that can be done
to attempt to compensate for
the many injustices inflicted
against the beautiful people of
Haiti over the course of their
history,” Mr Gilbert said.

Environmental film chosen for international festival

A BAHAMIAN environ-
mental film has been selected
for screening at an internation-
al festival, it was announced yes-
terday.

The film, Conservation
Through Education, by the
Bahamas Reef Environment
Educational Foundation
(BREEF), has been selected for
screening at the 9th annual
Earth Vision International Film
Festival.

The festival runs from April
11 to 14 in Santa Cruz, Califor-
nia and features films focused
on the environment and those

who seek to protect it.

By using films as tools to raise
environmental awareness and
uncover environmental issues,
the festival seeks to mobilise
support for conservation initia-
tives.

BREEFF’s 10-minute DVD,
directed and produced by local
filmmaker Kareem Mortimer
of Mercury Rising Media, will
be screened at 4pm on April
12)

Kareem recently received the
Audience Award at the
Bahamas International Film
Festival.

BREEFF’s entertaining and
informative short film has been
screened locally on both Cable
12 and ZNS.

Teachers

It documents the experiences
of Bahamian teachers at a
marine conservation teacher
training workshop which took
place last summer on San Sal-
vador.

The teachers experienced the

coastal environment in a hands-
on manner, looking for ways of

providing similar opportunities
for their students.

They explored coral reefs,
mangrove wetlands, sandy and
rocky shores and seagrass beds,
making links between the
importance of the coastal envi-
ronment and the role that
humans play in protecting it so
that future generations can con-
,tinue to benefit.

Viola Johnson of Mabel
Walker Primary School. wrote
“T had a lifelong learning
experience. It was my first
time putting on a snorkel
mask and viewing the great

variety of marine life. It was
breathtaking.

“I got to identify some fish,
the different types of sponges,
mangroves, birds and some
medicinal plants. I had a chance
to make some hands on materi-
als which can be used in the
classroom to stimulate the chil-
dren’s interest.

“The BREEF experience.

made me more aware of the
coastal environment and how
to help to protect it for future
generations. It was an exciting
week,” she said.

This summer, BREEF will

host another workshop from
July 15 to 22. The organisation
invited interested teachers to
contact them at 327-9000.

“This year we plan to pro-
duce a video that teachers will
be able to use to support their
instruction, for this we,will again
partner with Kareem, who has
done us proud,” said the group
in a statement.

BREFF is s non-profit foun-
dation that promotes a sustain-
able relationship between
Bahamians, visitors and the
marine environment upon
which they all depend.

Migrant smugglers head to the British Virgin
Islands as part of new Caribbean route to US

' & BRITISH VIRGIN
ISLANDS
Norman Island

Abandoned by a smuggler on
a pebbly beach, 49 hungry and
thirsty migrants hid out for days
amid a tangle of trees and
brush. Then a scouting party
returned with devastating news:
they weren’t in America,
according to Associated Press.

The illegal migrants — 47
Haitians and two Dominicans,
including two babies — were
hoping they had reached the US
Virgin Islands, where travelers
can hop on a domestic flight to
Miami without passing through
immigration checkpoints.

Instead, they were dumped
on Norman Island, one of the
British Virgins — three miles of
open water short of US soil,
with nothing to get them there
and no population to blend into.

“We gave them food and
water, and over the next four
days more of them came out of
the bush,” said Tom Warner,
who usually tends to yachters
at Pirates Bight Bar and
Restaurant, the only business
on uninhabited Norman Island.
“The 1-year-old was definitely
thirsty... | gave him a container
of water and that baby just
wouldn’t let go of it.”

Once a way-station for pirates,
the British Virgin Islands — com-
prised of the main islands of Tor-
tola, Virgin Gorda and Anegada,
as well as more than 50 smaller
islands — are increasingly attrac-
tive to Caribbean smugglers car-
rying illegal migrants to the near-
by US Virgin Islands and Puerto
Rico.

From October through Jan-
uary, 126 Cuban migrants used
the new route to reach the US
Virgin Islands — more than dou-
ble the number that landed dur-
ing the same period a year ago,
said Captain James Tunstall,
commander of US Coast Guard
for the eastern Caribbean. By
comparison, Cubans caught try-
ing to sneak past the cutter
patrolling the Mona Passage
have declined by 40 per cent.

On Saturday, authorities
detained 28 Haitian migrants,
including a baby, who were
wandering in bushes after being
dropped off on St Croix in the
US Virgin Islands by a boat that
a resident saw using a night-
vision scope.

The new route swings deep
into the eastern Caribbean and
runs northwest along the Lee-
ward Island chain before heading
to the British Virgin Islands. The
migrants, mostly from Cuba,
Haiti and the Dominican Repub-
lic, generally fly to the island of
Dominica, then hook up with
smugglers who take them on
chartered sailboats to US terri-
tory under cover of darkness,
according to Chief Inspector St
Clair Amory of the Royal Virgin
Islands Police Force.

Cubans, who often have
access to cash from relatives on
the US mainland, generally pay
US$3,000-US$3,500 for the sea
voyage, while Haitians and
Dominicans pay US$2,000-
US$2,500, he said.

Authorities are having a hard
time choking off the new route
begause the distance between the
US Virgin Islands and the British

Virgin Islands is as little as a mile
in places. A dinghy can cross in
minutes, and smuggling boats
blend in with tourist yachts.

Amory once alerted the
Coast Guard to search a boat
heading into US waters, and
they caught a group of Bolivians
who had flown to the British
Virgin Islands and were trying
to sail to Puerto Rico. Such co-
operation is critical, officials say.

The British territory has tight-
ened immigration regulations
and is building a detention cen-
tre for illegal migrants, aiming
to prevent them from using
their islands as a springboard
io America.

“It’s really hard on us because
we know what they're running
from... but we’ve got our jobs
to do,” said Constable Stepphen
Gilbert, who patrols the terri-
tory’s 59 square miles of sea and
shore in a new police boat.

YOUR CONNECTION TO THE WORLD

TENDER ~ DIRECTORS
AND OFFICERS INSURANCE

The Bahamas Telecommunications Company Ltd.
(BTC) is pleased to invite Tenders to provide the
Company with coverage for our Directors and Officers.

Interested companies/firms in Nassau may collect
a tender package from the Security’s Desk located
in the Administrative building on John F. Kennedy
Drive, between the hours of 9:00 a.m. and 5:00
p.m. Monday through Friday.

The deadline for submission of tenders is April

10th, 2007.

Tenders should be sealed and marked

“TENDER FOR DIRECTORS AND OFFICERS
INSURANCE” and should be delivered to the
attention of the President and CEO, Mr. Leon
Williams by the above date and time.

BTC reserves the right to reject any, or all Tenders.







@ OFFICERS from the Royal Virgin Islands Police have a discussion about a cargo vessel in front
of them while patrolling the waters off Virgin Gorda, in the British Virgin Islands

(Photo: AP/Brennan Linsley)

Easter Holiday ~

Store Hours
“Good Friday, April 6

ALL LOCATIONS CLOSED

HOLIDAY WEEKEND

Regular Hours: 7 a.m. to 11 p.m.

Easter Sunday, April 16
Easter Monday, April 17

Saturday, April 15

Hafepy Easter from Wendy of





PAGE 8, WEDNESDAY, APRIL 4, 2007

THE TRIBUNE







he benefits of unity as opposed

to the threat of losing sovereignty

“Leave this Europe, where
they are never done talking of
Mansyet murder men every-
where they find them, at the cor-
ner of every one of their own
streets, in all the corners of the
siube.” — Franz Fanon, the
Wretched of the Earth, 1963

A: amusing Associat-
‘ed Press photograph

caught my eye over the week-
end. It showed the French Pres-
ident, Jacques Chirac, rubbing
noses with the German Chan-
cellor, Angela Merkel, at a cel-
ebration last week marking the
50th: birthday of the European
Union.

The fact that this ceremonial
summit and public show of
affection took place in a new
Berlin — the capital of a reunit-
ed Germany at the centre of an
integrated Europe — is the
most powerful reminder yet
that the horrors of the first half
of the 20th century are behind
us. ;

THe European Community
— now known as the European
Union — had its start in the
aftermath of the most destruc-

'
t

tive war in human history; a war
that killed 60 million people —
including the murder of some
20 million Jews, gypsies, homo-
sexuals and other unfortunates
in the Holocaust.

An historic reconciliation
began when the two bitterest
enemies on the European con-
tinent — the French and Ger-
mans — agreed to jointly man-
age their strategic heavy indus-
tries in 1951. A common market



embourg.
This pact ended centuries of
warfare both on and off the



Churchill’s argument was that a
united Europe was the best way
to heal the hatreds of the Second
World War, prevent future
wars, and ensure economic

prosperity.



was set up by the Treaty of
Rome six years later, linking
the former battlegrounds of
Germany, France, Italy, Bel-
gium, the Netherlands and Lux-

' " i
Sandal Royal Bahamian Resort & Offshore Island

Invite applications for the position of;

INFORMATION SYSTEM MANAGER

Application will support users and systems
at site and function as a member of a larger
team with specialized resources they will be

responsible for

Training and Development of all users
Establishing documenting and
maintaining system a and
Security procedures

¢ Act as Project Leader on LS. Projects.
«. Maintain and update systems in.
“accordance with group anda.

me

Qualifications: Degree or Diploma i in Computer
Science or equivalent experience with Novell

Networks in support environment.

Be quick

leaner and able to act decisively within group
guidelines. Good management skills. Interested
persons should submit resume by email
to; cmajor@srb.sandals.com.

bo
vim

Pa Bus & Truck or Ral

-. Montrose Avenue
TEESE EEE: e Fax: 326-7452

IP RILSE?

322-1722



European continent. It also
ended succcessive attempts to
unite the continent by force —
the French under Napoleon, the
Germans under Hitler, and the
Russians under Stalin. It
marked the first time that Euro-
peans gave up some of their
sovereignty in the interest of
peace.

But the concept of a “United
States of Europe” had been
talked about for a long time.
According to Victor Hugo, writ-
ing in 1849, “A day will come
when all nations on our conti-
nent will form a European
brotherhood... When we shall
see... the United States of
America and the United States
of Europe face to face, reaching
out for each other across the
seas.”

he British wartime
leader Winston

Churchill made similar remarks
in 1946: “It is from Europe that

’ have sprung that series of fright-

ful nationalistic quarrels, which
we have seen in this 20th cen-











‘ show!

TOUGH CALL

LARRY SMITH:

LOCAL AND
TRAVEL
VENDORS!

Get an entry
¢ form from your
| local travel agency
\ toenterio win
_ prizes al the

tury wreck the peace and mar
the prospects of all
mankind...We must build a kind
of United States of
Europe...The first step must be
a partnership between France
and Germany.”

Churchill’s argument was that
a united Europe was the best
way to heal the hatreds of the
Second World War, prevent
future wars, and ensure eco-
nomic prosperity. In that same
year, he also famously coined
the term “iron curtain” to
describe the line separating the
West from Soviet-controlled
Eastern Europe: “The safety of
the world requires a unity in
Europe, from which no nation
should be permanently outcast.”

Over the years, the European
enterprise expanded to include
Britain, Denmark and Ireland

‘in 1973, Greece in 1981, Portu-

fist by the Soviets and their pup-
pets since 1945, was peacefully
reunited with democratic West
Germany.

As the Soviet bloc disinte-
grated, other formerly commu-
nist East bloc nations joined the
European Union, so that now
there are a total of 27 member
states. And next year, the tiny
Caribbean islands of Bonaire,
Saba and Sint Eustatius will
become special municipalities
of the Netherlands, and also be

a part of the European Union.

[rica Angela Merkel,
the current German
leader, was an East German
who became involved in the
democracy movement and was
appointed a centre-right cabi-
net minister soon after reunifi-
cation. She was elected Ger-
many’s first woman chancellor
in 2005.

The Frenchman she rubbed
noses with at last week’s summit
was Jacques Chirac. He was a
communist in the 1950s, but lat-
er came to support the Gaullist
centre-right, becoming prime
minister in 1974 and eventually
taking control of France’s right-



Some of our politicos like to say
that the Bahamas must integrate
with the Caribbean Community
by joining the single market so
that we can share the kind of
prosperity and solidarity
enjoyed by member states of
the European Union.



gal and Spain in 1986. Then,
after 30 years, the Berlin Wall
that symbolised Churchill’s Iron
Curtain was breached. And in
1990 East Germany, which had ~
been ‘controlled with a mailed



2007

REL

FRIDAY 2007

apm - som
Wyndham

Nassau Resort

a Crystal Palace Casino



wing governing coalition. Chirac
has been president of France
since 1995.

Adding to the twists and
turns of political fortune is the
current president of the Euro-

ENTRY
travel

© 2007 ADWORAS








pean Union — a former Por-
tuguese prime minister named
Jose Manuel Barroso. As a
young man he was a leader of
the Maoist underground fight-
ing the Portuguese dictatorship.
When he shifted allegiance to
the centre-right in 1980, Bar-
roso helped end wars in former
Portuguese colonies in Africa
and Asia.

“In Europe, 2007 is the year
when the past and the future
meet,” Barroso said recently.
And in her speech to the recent
birthday summit, Merkel said
the European Union was a
dream come true. But polls
show that most Europeans
don’t feel the same way, and 41
per cent think it should be
stripped of powers.

Euroscepticism is probably
strongest in Britain, where arti-
cles recently recalled the words
of a British diplomat sent to
observe a 1955 conference
preparing the Treaty of Rome.
He told delegates then that the
project was doomed. If the
treaty was agreed it would not
be ratified and, if ratified, it
would have “no chance” of
coming into force, he declared.

A« the latest sceptic
is the German Pope

Benedict who has accused the
EU of apostasy for refusing to
mention Christianity in its SOth
anniversary declaration. The
pontiff said Europe could “not
be built by ignoring its people’s
identities”, and also warned that
the continent’s declining
birthrate meant that Europe
was “losing faith in its own
future”.

Some of our politicos like to
say that the Bahamas must inte-
grate with the Caribbean Com-
munity by joining the single
market so that we can share the
kind of prosperity and solidari-
ty enjoyed by member states of
the European Union. But the
difference is like chalk and
cheese — not just between the
EU and CARICOM, but also
between the Bahamas and our
West Indian counterparts.

_ Following on the heels of the .
failed West Indian Federation

(of which we were never a part),
the Caribbean Community was
formed in 1973. But experts say
the tremendous differences
between regional states — in
terms of size and level of devel-
opment — make it hard to reach
agreement on substantive
issues.

For example, the income dif-
ference between the richest
(Bahamas) and poorest (Haiti)
CARICOM nations is as high
as 35 to 1. Before its recent
enlargement, the European
Union had an income differen-
tial of just 4 to 1. And, the
experts say, there is a distinct
lack of regional transport and
trade, with the Bahamas hav-
ing virtually no trade with any
CARICOM member.

A: the Inter-American
Development Bank

said recently, there has never
been a full cost-benefit analy-
sis of West Indian integration
to assess its net benefit to indi-
vidual economies and to the
region as a whole. In the
absence of such hard evidence,
it is difficult for proponents to
maintain the momentum of the
process.

That’s why Foreign Minister
Fred Mitchell said recently that
joining the Caribbean Single
Market and Economy is fin-
ished: “There is no argument
anymore. We have accepted the
wish of the Bahamian people
on this matter and that’s the
end of it.”

One of the strongest disin-
centives is the fear of losing
national sovereignty. And for
many countries, especially the
Bahamas, the benefits of inte-
gration are intangible and long
term while the costs are real
and immediate.

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

INSIGHT

For the stories

behind the

news, read
Insight on
Mondays

ei

ee 2 Oe SO ee

SF Pe eke Ow SO meee as

nee ew vev eee

we ee a ee ee



THE TRIBUNE

NHI Plan
could be ready
‘by the end
of the year’

FROM page one

employer associations,
unions, and private sector
groups who claim govern-
ment is “rushing” the plan
without proper consultation.

The survey conducted by
the Segal Company, on
behalf of the National Coali-
tion for Health-Care
Reform, found that some 79
per cent of Bahamian
employers surveyed offered
‘alternative solutions to
meeting the country’s
health-care needs, most
involving a combined pri-
vate-public sector.

The survey also found
that just 21 per cent of
employers believe the gov-
ernment’s proposed Nation-
al Health Insurance Scheme
is the best option for
improving health-care quali-
ty, financing and access in
the Bahamas.

Winston Rolle, the former
Chamber of Commerce
president now acting as a
coalition representative, told
The Tribune that these per-
centages were “very signifi-
cant.”

Mr Rolle said: “It shows
that the NHI plan, based on
the information we have on
hand at this time, is not giv-
ing anyone a comfort level.”

“This response shows a
genuine desire by the pri-
vate sector to address the
nation’s health-care needs
but considerable concern
about having a mandatory
NHI scheme administered
through the National Insur-
ance Board.”

But, yesterday Dr. Lalta
said that employers will be
in a better position to con-
sider the plan when all the
details are worked out.

“We told them that we are
a little bit away from provid-
ing all the details because
some of it we are still fine
tuning,” Dr Lalta said.

“There are two things
happening,” said Dr Lalta.
“We have a group that is
doing the macro-economic
analysis, DAH consulting
out of New York and their
report should be ready by
the end of the April. We
also have another group that
is working along with us to
fine tune the benefits pack-
age and payment system,
Sanigest International out of
Costa Rica and we expect to
have the benefits package by
June.”

Dr Lalta said these groups
are consultants the govern-
ment has contracted to assist
his team.

“By September or Octo-
ber we should have the
major part of our work done
and then we will leave it up
to government to decide the
implementation date,” Dr
Lalta said..



oe

—

Oo: oO.

Ane Oo =

CARA

AORN,

=

pe pees

BomAreos

.2 2 om oT

-
any

The Baha
and T

The Montreal Proto
Alr-con
A NATI

THE MINISTRY

The Represe
will be on the islands of A

George Town, Exuma
Marsh Harbour, Abaco

fc

Govenor’s Harbour, Eleut

Freeport, Grand Bahama

at the Department of E

FROM page one

nce improved by 4.1 per cent,
-nefiting from the 4.5 per cent
crease in room rates.
Grand Bahama saw an expan-
n in average room prices of
.1 per cent, the result of rev-
iue firming by 5.5 per cent.
us occurred despite a 12 per
nt contraction in hotel occu-
ncy on the island.
On the Family Islands, hotel
venues expanded by 3.2 per
nt, with a 9.9 per cent increase
room rates outpacing a 3.2 per
nt occupancy fall.
The Central Bank report said
erage consumer price inflation
as measured by the Retail
‘ice Index — advanced to 2.13
r cent for the 12-month period
ding February 2007, compared
1.88 per cent in the corre-
onding period a year earlier.
The Central Bank said the

Hotels

most significant cost increases
recorded were: other goods and
services (7.54 per cent), food and
beverages (4.36 per cent), med-
ical care and health (2.34 per
cent), housing ( 1.46 per cent),
and clothing and footwear (1.03
per cent).

In addition, preliminary data
for the fiscal year 2006-2007 indi-
cated a narrowing in Govern-
ment’s overall deficit by 2.2 per
cent to $69.4 million for the first
seven months to January 2007,
as a 14.2 per cent expansion in
revenues and grants to $749.4
million outstripped the 12.6 per
cent growth in expenditures to
$818.8 million. ©

Tax revenues firmed by 12 per
cent to $730 million, reflecting
in part gains taxes on interna-
tional trade and transactions (9



@ THE man’s body lies covered at the scene last night.
(Photo: Felipé Major/Tribune staff)

ROM page one

Murder

ung child and a wife, and perhaps he is the bread-winner within the

me,” he said.

ith the murder rate having eclipsed 20 in the first quarter of the
r, the Bahamas is on track to possibly exceed 80 homicides in 2007
number unknown in the Bahamas.

SP Evans once again called on the community to refer matters of
flict to the police, or to social organisations, such as the church for
diation, rather than resorting to violence.
he police have announced a significant re-organisation of its forces

meet the challenge of the country’s escalating crime. A new crime
ef, Senior Assistant Commissioner Elliston Greenslade, is in the
cess of taking over command from Senior Assistant Police Com-

ssioner Reginald Ferguson.

owever, as some commentators have suggested, a cultural shift
ms to have occurred in the country where violence has become a
manent fixture, regardless of the efforts of the police.

choing the pessimism many Bahamians feel regarding crime in
> country, a young Bahamian woman on hearing of yet another
rder commented: “The more they pray, the more people get killed.”

ROM page one

earchers. ;
he CSU report also notes that
» Atlantic has seen a large
rease in major hurricanes dur-
the 12-year period of 1995-
, which averaged 3.9 per year,
comparison to the prior 25-
r period of 1970-1994, which
raged 1.5 per year.
In 2005 there were a record
mber of tropical cyclones in
Atlantic — 27 named storms,
hurricanes and seven major
ricanes — including hurricane
trina which destroyed large
ts of New Orleans and Mis-
‘Ippi.
Bahamian Chief Meteorolo-
t, Arnold King, said that
ause of the location of the
hamas, residents should always
prepared for the possibility of
irect hit from a major hurri-
1e, regardless of the projec-
1S.
“The potential always exists

Hurricanes

for a major hurricane to hit the
Bahamas in any given hurricane
season. Let us not forget 1992
with hurricane Andrew. Hurri-
cane Andrew was the only major
hurricane that year. That was the
first hurricane of the season. It
doesn’t matter if you have 20 or
just 1. That one could impact the
Bahamas,” he said!

A direct hit on New Provi-
dence could result in significant
loss of life and property destruc-
tion — especially in the large Hait-
ian shanty towns spread through-
out the island:

CSU indicated that new sea-
sonal updates for the 2007
Atlantic basin hurricane season
will be released on May 31st to
coincide with the official start of
the 2007 hurricane season on
June Ist, and again on August
3rd, September 4th and October
2.

GN 484

as Environment, Science
hnology Commission



1 Act, 2006, requires all Refrigeration and
itioning technicians to possess
AL CERTIFICATION CARD.

) facilitate this process,

UTILITIES & THE ENVIRONMENT

advises that

atives Of The National Ozone Unit
ico, Eleuthera, Exuma and Grand Bahama on the

lowing dates and times:

April 11th, 2007
April 25th, 2007
April 26th, 2007
April 27th, 2007

Ta

9:00-5:00p.m.
9:00-5:00p.m.
9:00-5:00p.m.
9:00-5:00p.m.

‘ironmental Health Services Office, to register
ALL REFRIGERATION AND AIR-CONDITIONING TECHNICIANS.
Technicians are ‘equired to bring along the following:

1. Drivers license;

2. National Insurance card;

. Passport or valid voter’s card and

. Certification documents.

For more information, please -ontact the National Ozone Unit, Best Commission
in Nassau at 22-4546; 356-3067 and 322-2576.

per cent), stamp taxes (11.1) and
property taxes (43.2 per cent).

Expenditures broadened by
12.6 per cent to $818.8 million,
due primarily to the 9.4 per cent
rise in current spending to $706.9
million for consumption and the
purchase of goods and services,
while elevated outlays for asset
acquisitions and capital forma-
tion boosted capital outlays by
35.4 per cent to $76.6 million.

eece

Androsia, the Bahamian
manufacturer of batik fabrics,
clothing and home textiles, has
signed an agreement with Com-
monwealth Fabrics to act as its
distributor in Nassau.

Gomez
FROM page one

of cases simply because we do not
have the judicial personnel,” he
said.

With Justice Lyons handling 90
per cent of the commercial mat-
ters at the Supreme Court level,
the country cannot afford to lose
him, Mr Gomez said.

“If Justice Lyons decided ‘?’m
gone’ and leaves tomorrow, the
civil court would basically shut
down. The Chief Justice is going
to have to find a judge within his
ranks to deal with commercial
matters.

“So a judge who may be doing
criminal matters will be forced
now to address commercial mat-
ters. You are going to have one
less criminal judge and you are
already suffering with a deficien-
cy,” he said.

Mr Gomez pointed out that
with the retirements of judges,
which have already taken place,
those that are about to take place,
and the “the threatened expul-
sion” of Justice Lyons, the
Bahamas could soon face major
problems in its judiciary.

The lawyer said that if the lack
of manpower within the judiciary,
and especially the Supreme
Court, is not addressed, court cas-
es in future could drag on for as
long as 10 to 15 years as opposed
to the two to three years it takes
for a case to be heard now.

“We are operating a Supreme
Court with less judges and we are
reducing those numbers scem-
ingly by giving the impression that
we want one of them (Justice
Lyons) to go,” he said.

This fact is particularly wor-
rying, he said, at a time when the
country is experiencing a steadily
increasing murder rate and is
faced with more and more sus-
pects who are required to appear
before a court within a limited
amount of time.

“The police force has done a
marvelous job in the apprehen-
sion of alleged criminals, but all of
that is for naught if a person can-
not be tried,” he said.

WEDNESDAY, APRIL 4, 2007, PAGE 9

Voter

numbers
i FROM page one

If the numbers reach
: 148,000, there will be 4,000
: voters more than in 2002
: who will be able to partici-
: pate in this year’s general
: election. Registered to vote
: in 2002 were 144,758
: Bahamians.
: Sherilyn Hall, deputy
; permanent secretary at the
; parliamentary registrar’s
; department, had said in an
:; earlier statement that the
: new voters cards are
: expected to be ready some
; time next week.
: The department, he said,
: will set up distribution cen-
: tres where voters will be
: able to collect their cards.

Gag order
FROM page one :

Confirming this, Debra
Rose, the attorney for Virgie
Arthur, the mother of Anna’,
Nicole, said her client is
focused on ensuring that what
is in her granddaughter’s best
interest prevails.

With her client at her side;
Ms Rose made her way \
through the crowd of local and
international press outside the
Supreme Court yesterday
evening.

She said: “My client is cer-
tainly the grandmother of the.
baby, and she is doing every-
thing that is in the child’s best
interest.” .

Other than that, she would =
reveal very little, only reiterat-.
ing that the gag order
remained in place over the
proceedings.

MONDAY 2nd April - 7:30pm -

re ord Apr 7: ovam Mass;

Cathedral.
i clergy renew the.

Friday; 12n00n -
Last Words

EASTER DAY
Eucharist; 1

Procession & Baptism; 7:00pm Solemn

Sermon & Benediction



LUMBE

on Wilton Street is





OPE

selling



Building Materials and



Pressure Treated Lumber

just west of its old location

on Wilton Street

(right next door to DW Davis School)

Our NEW Hours will be





LUMBER

Committed To Helping You Build It Right
In The Bahamas Since 1982!





PAGE 10, WEDNESDAY, APRIL 4, 2007 THE TRIBUNE

| WEDNESDAY EVENING

APRIL 4, 2007
7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30_
Ween Lae Lun aes

= Wild Florida —_{In Performance at the White Novel Reflections on the American Dream The characters, plots and |
WPBT |"Florida’s Ani {House 20th anniversary of Thelo- {themes of seven novels deal with wealth, poverty, success and failure in |
mals’ 1 (CC) _|nious Monk Institute of Jazz. America; narrator Patricia Clarkson. (N) 1 (CC |

The Insider (N) | Jericho Gray's decision to make the/Criminal Minds The BAU team —_|CSI: NY “Silent Night” A teenager is |
1 (CC) refugees leave pushes Roger off the|must delve into Morgan's past when |shot while olecing her infant sis- |
deep end. (N) (CC) he is arrested for murder. ter. O (CC)

Access Holly- |Friday Night Lights Coach Taylor |Crossing Jordan “Faith” Woody [Medium Joe's disgruntled co-worker|
wood (N) (CC) |makes a rash decision that alters and Jordan search for a hijacked forces Joe and his officemates into |
his future at Dillon. (N) © (CC) —_|school-bus. (N) © (CC) a hostage situation.

Bones Boothe suspects an organ- |American idol |’Til Death Joy |News (CC)
ized-crime family when a partial ~~ |(Live) M (CC) and Allison go to
skeleton is found in cement. Florida. (N) |

Jeopardy! (N) George ee George Lopez pecan to __|In Case of Emer-|Lost Kate must fend for herself in
‘@ WPLG Cc} George and Ang- |(N) (1 (CC) —_|Jim “The At-Baf” |gency A trip to.a |the jungle when she discovers that
ie hire a maid. (N) (CC) spa. hj she was betrayed. (N) (CC)

CABLE CHANNELS

i |CSI: Miami “Losing Face” Horatio |The Sopranos “House Arrest” Tony is told to take bet- |(:17) The Sopra-
| A&E - {sets out on a personal mission to {ter care of his business. (CC) nos 1 (CC)

|

find his mentor’s killer. 0
| Hardtalk BBC News World Business |BBC News |Fast Track BBC News World Business
BBCI (Latenight). |Report (Latenight). |Report
BET Access Granted /Access Granted |The Parkers 1 Girlfriends Girlfriends Girlfriends © {Girlfriends 0
(N) (N) (CC) (CC) (CC) (CC) (CC)
‘CBC Just for Laughs |CBC Winnipeg Comedy Festival |CBC News: the fifth estate (CC) {CBC News: The National (CC)
| Gags (CC) “Relative Insanity” (CC) :
:00)Onthe =| Fast Mone Deal or No Deal Contestants get a /Business Nation Features, profiles, ee
CNBC chance to win money. cc} investigative reports. (N) oe
/CNN ey The Situa- |Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC) : ; '
ion Room 3 aoe ge



SOOM iota %e%e% "o's,
































(Latenight). |









am ee ee SITE (RES.










Scrubs J.D. talks|The Daily Show |The Colbert Re- Chappelle's |South Park But- |South Park (N) re Home : vos
COM about his feel |With Jon Stew- |port (CC) Show (CC) ters’ faked death. |(CC) Fay nding.
ings. (CC) art (CC) (CC) (N) (CC) nto: :
Cops ‘Coast to |Most Shocking ‘Robberies and Forensic Files |Forensic Files Dominick Dunne: Power, Privilege j
| COURT Coast 1 (CC) _|Hold-Ups 2” ii ee eee & Justice “Over the Edge” : i
The Suite Life of} x * x MULAN (1998, Musical) Voices of Ming-Na (35) Kim Possi- |Life With Derek |Phil of the Fu- :
DISN Zack & Cody —_|Wen, Lea Salonga. Animated. A Chinese maiden dis- |ble “Steal “Babe Raider’ ( |ture Phil skips a ;
Class president. |guises herself as a man. 1 ‘G’ (CC) ‘Wheels’ (CC) —_|(CC) family event. 0 ‘
| DIY This Old House |Home Again © |DIY to the Res- |Wasted Spaces |Wasted Spaces |Finders Fixers Finders Fixers '
| Mortise lockset. |(CC) cue ‘
DW Journal: In In Focus (Ger- |Journal: Tages: |MadeinGer- — |Journal: In Euromaxx ‘
| Depth man). thema many Depth '
E! The Daily 10 (N) |101 Juiciest Hollywood Hookups |101 Juiciest polyno Hookups |Paradise City | Child Star Confi- i
. Celebrity relationships. Celebrity relationships. (N) “Derailed” dential ‘
‘
ESPN NBA Basketball vee Bulls at Detroit Pistons. From the Palace of Auburn Hills in Auburn|NBA Basketball Sacramento Kings ‘
Hills, Mich. (Live) © (CC) at Denver Nuggets. (CC) '
ri

Ne NBA Basketball Chicago Bulls at Detroit Pistons. From the Palace of Aubum Hills in Auburn|SportsCenter — International Edi-
Hills, Mich. (Live) (CC) tion (Live)

Daily Mass: Our |EWTN Live Eparchy-Con- |Holy Rosary —_|Passion and Resurrection of Our

| :00) Cardio Ship Out, Shape Up “Sit-Ups At
FIT TV Sat 1 (CC) |Sea’ Water aerobics. (CC)

uff Brides: The Bridal Challenge |FitTV’s Housecalls A cancer sur-
“Nadege & Colleen” (CC) vivor. (CC) -

Fox Report- {The O'Reilly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van

Shepard Smith Susteren (Live) (CC)

6:30) College Softball Florida © |The Sports List |Best Damn Sports Show Period Destination Wild| The FSN Final
FSNFL Sao Pg (Live) peers (Live) (CC) Score (Live)
GOLF (:00) Live From the Masters (Live) Golf Chronicles eee Live From the Masters
GSN Lingo (CC) Weakest Link © (CC) Gameshow Moments Gone Ba- {Chain Reaction |Chain Reaction

nanas (1 (CC) (CC) (CC)

:00) Attack of {X-Play (N) X-Pla Cops (CC) |Cops“Jack- __|Arrested Devel- |Ninja Warrior

G4Tech |e show (\ soni’ (CC) lopment {CC}

(00) Walker, | Walker, Texas Rane Walker trails |LOVE’S ENDURING PROMISE (2004, Drama) Katherine Heigl, Dale
HALL exas Ranger escaped convicts who are robbing Midkiff, January Jones. A mysterious traveler woos a pioneer couple's

es “Golden Boy’ —_| Texas banks. 1 (CC) daughter. (CC) 2

“un Buy Me “Before /Great Home Giveaway Contestants|Property Virgins |Location, Loca- House Hunters |BuyMe “John | |
HGTV and After’ © —_Jarrive at the top-secret location. (N) |Man buys first tion, Location |Seeking achild- jand Cara Leigh”

(CC) (CC) home. (CC) |"Wicklow’ (N) friendly home. ._|(N) (CC)

; Morris Cerullo, {Breakthrough |Zola Levitt Pre- Inspiration To- _|Life Today (CC) |This Is Your Day|The Gospel
ie

Se Re Fe ee ae ee i Se ee ele Fn tan ee ee ee SS










| Reba Van's par- |My Wife and. ; Marina Resort & Beach Club Membership Included



Â¥ TWELVE NEW LUXURY VILLAS
\VAILABLE FROM $2.5 MILLION
CASAMARINARESIDENCES.COM
305.292.2244



LUXURYRESORTS
& HOTELS



ted by Truman & Co. Real

pegs





___BUSINESS _

BRIEFS

e RETIREMENT BENEFITS

FEDERAL AGENCY SAYS 32,000
PEOPLE ARE OWED PENSION MONEY

Having trouble making ends meet living on
your retirement nest egg? You might be owed

some pension money.

A total of $133 million in retirement bene-
| fits haven’t been claimed, the federal agency
| that insures private pension plans reported
Tuesday.

The Pension Benefit Guaranty Corp. said
| 32,000 people are owed money. Individual
| benefits range from $1 up to $611,028. The
average unclaimed benefit is about $4,950.
The agency urged people who may have
lost track of a pension earned during their

benefits to conduct a search using PBGC’s
online directory — www.pbgc.gov/search.
People can search by their last name, com-
pany name or state where the company was
headquartered, the PBGC said.

e INSURANCE

HEALTH INSURER STOCKS RISE ON
MEDICARE’S HIGH PAYMENT RATES

Shares of some of the largest health insur-
ers rose Tuesday after the government
announced higher-than-expected payment
| increases for companies that operate private
| Medicare plans.

The Centers for Medicare and Medicaid
Services said late Monday that preliminary
payments to companies that run Medicare

| Advantage programs will rise 3.5 percent for
2008. The payment boost, made to insurers
for each Medicare participant they cover, is
less than last year’s 3.9 percent update, but



above Wall Street estimates of a 2 percent to 3

| percent increase. The 2008 payment rate
mainly serves as a benchmark against which
; companies will offer their services, rather

| than a final payment amount.

i

i

e RECORD LABELS

EU REGULATORS LAUNCH PROBE INTO
APPLE’S ITUNES ONLINE MUSIC STORE

The deals Apple (AAPL) struck with
record labels to stock its European iTunes

were notified of an investigation into their
agreements after regulators built up a “very

Jonathan Todd.
People can only download singles or

of residence — a policy that amounts to

career and think they may be owed retirement

stores may violate EU competition rules, reg-
ulators said. Apple and the record companies

strong case,” said European Union spokesman

albums from the iTunes store in their country

__MiamiHerald.com_| THE MIAMI HERALD





‘€ aun
AFP-GETTY IMAGES

A SUCCESS: Boeing’s 787 Dreamliner jet is
becoming the firm’s most successful
aircraft.

e AIRCRAFT

BOEING WINS ORDER FOR FIVE
787 JETS FROM JAPAN AIRLINES

Boeing (BA) won an order for five of its
787 Dreamliner jets from Japan Airlines
(JALSF.PK), bringing the totalto514and =’
extending its lead over Airbus SAS.

The contract is valued at as much as
$788 million, based on Boeing’s list prices.

The deal boosts JAL’s total 787 order to 35, the’
Chicago-based company said. Boeing plans to
put the 787 in service by mid-2008. i

Boeing, the world’s second-largest com-
mercial-airplane maker, is sold out for the f
next six years with a backlog of about $70 bil- -
lion, making the Dreamliner its most success- '
ful new aircraft.

L

e REVENUE

BLOOMSBURY PUBLISHING 2006 PROFIT.
PLUMMETS, BUT OUTLOOK BETTER

Bloomsbury Publishing (BMBYF.PK),
the British publisher of the Harry Potter
books, reported a huge slump in 2006 annual
profit, but forecast improving earnings in \
2007 when the final installment of the books
about the boy wizard is due for release. 7

Bloomsbury said that net profit for the year
ended Dec. 31 plummeted to 3.7 million
pounds ($7.3 million) from 14.6 million
pounds in 2005. Revenue dropped 31 percent
to 74.8 million pounds ($147.9 million). -

Chairman Nigel Newton said “2006 wasa_
challenging year,” but that “2007 has got off to
a good start with a number of books already in.
the best-seller lists.” Newton said several con-
tracts for reference publishing rights were
currently under negotiation.

Commission said.

| @ ASIA

Washington: Japan.

i
|
i
}
|
|
1
|
i
| cut: trade barriers.

GERMANY

Possible Chrysler sale to be
hot topic at annual meeting

BY MATT MOORE
AND TOM KRISHER
Associated Press

FRANKFURT, Germany —
Only one theme is expected to
dominate DaimlerChrysler’s
annual shareholder meeting
this week: How soon can the
U.S. Chrysler unit be sold off
and when can the company go
back to being Daimler-Benz?

But despite boisterous calls
by shareholder groups that
want to see the
German-American automaker
carve off its U.S. counterpart
and become completely Ger-
man again, those looking for
the answers are likely to go
away disappointed.

Though the company has
not even confirmed it is in
talks to sell off Chrysler, for
which it paid some $36 billion
in 1998, speculation has run
rampant that a deal is in the
offing. Most analysts, how-
ever, do not believe any
announcement will come at
Wednesday’s meeting where
some 8,000 shareholders will
fill the Berlin Messe and pep-
per the board with questions
and comments.

“This is an unlikely venue
for such an announcement,”
said Stephen B. Cheetham, a
research analyst for European
autos with Sanford C. Bern-
stein in London.

“They will not normally be
tied to the timetable. It’s
highly unlikely that we will get
an announcement for this

meeting.”

"U.S. TRADE PACT WITH SOUTH KOREA
PIQUES JAPANESE INTEREST

A free trade pact between the United
States and South Korea has cranked up the
pressure on another top American ally in Asia
to move forward on a similar agreement with

The deal wrapped up in Seoul on Monday,
which still requires legislative approval,
would slash tariffs on South Korean exports to
the lucrative American market — putting
many Japanese companies at a potential dis-
advantage. While Tokyo has pursued free
trade deals with other Pacific Rim nations, the
U.S.-South Korean accord spurred fears that
Japan might fall behind in the global race to

| unlawful “territorial sales restrictions,” the

e INVENTIONS

EUROPEAN COMMISSION PUBLISHES
PLANS FOR EU-WIDE PATENT SYSTEM;

In a filing with the U.S.
Securities & Exchange Com-
mission last week outlining
the meeting, there is no
motion to consider the sale of
Chrysler, which has been on
the table since Chief Executive
Dieter Zetsche said Feb. 14
that all options were on the
table.

At least some of the compa-
ny’s more-than one million
shareholders have been push-
ing for a divorce from Chrys-
ler both in style and substance.

Ekkehard Wenger and
Leonhard Knoll have put forth
such a motion, calling for the
company to revert back to its
original name, Daimler-Benz.

They argue in the motion
that to “maintain a corporate
name that evokes associations
with the failure of the business
combination with Chrysler is
detrimental to the image of the
corporation and its products.”

But the big issue will be
what to actually do with

Chrysler.

No matter when Chrysler is

The European Commission published
plans for a single EU-wide patent system that ‘
would replace national patent rules, leading to.
large savings for those seeking legal protec-
tion for inventions across the 27-nation bloc.

Acompany or individual wishing to regis-
ter a patent in 13 EU countries would pay
13 times more than a Japanese company or
individual registering a patent in that country,
according to the commission.

Different patent litigation systems across
the EU also add to the costs and cause legal
uncertainty as patents have to be enforced
through national courts. Litigation can cost
between $66,830 and $1.33 million, making it
too costly for small and medium enterprises,
the EU executive said.

~~ ore e@ & 22s Ye COR B&B @ 8S DOD SY OH SE SE OATES

sold, if ever, Daimler is,
unlikely to make back what it »
paid. Analysts value the unit
anywhere from nothing to
$13.7 billion. :
Estimates vary with the :
value placed on assets such as >
brand names, factories and -
materials, all weighed against *
Chrysler’s estimated $19 bil- .
lion liability to pay healthcare '
benefits for unionized retirees.

Some analysts say the lia-
bility exceeds the value of the
assets, meaning that Daimler-
Chrysler would have to pay
someone to take Chrysler.

Others say the company is
worth more to the right buyer. '

So far no clear buyer has ‘
emerged, but Canadian auto-
parts supplier Magna Interna-
tional has reportedly submit-
ted a bid to buy Chrysler for
between $4.6 billion and $4.7
billion. Major Private equity
firms Blackstone Group and
Cerberus Capital Management _
are also rumored to be in the .
hunt.

ee ee

LATE TRADING.



4pm. 6:35 p.m. Late 4 oe 635 p.m. Late {
Stock Tk. cose Chg. volume | Stock Tk. dese Chg volume
KBRIncn KBR 20.69 20.69 5 163844 AmintGp lf AIG 67.64 67.64 a4 22751
AT&T Inc T 39.74 39.74 £ 80430 Citigrp c 5141 51.44 +03 19247
Nasd100Tr QQQQ 44.16 4416 * 57003 | MellonFnc MEL 4341 4341 = * 19096
KBR Inc wi KBR/WI 20.75 215° 4 ® 51886 Genflec GE 35.32 3532 =* 18632
Kraft KFT 3033.30.18 --15 51481 | Qwestem Q 406 AGS" 18300
SunMicry SUNW 579 579 * 47021 | Henin DELL 2307 2307 * 16949
SPDR SPY 143.69 143.69 ° 41730 Pfizer PFE 561 25.67 . 16119 |
Microsoft MSFT 27.87 27.87 = 37186
. BredeCm BRCD 9.56 958 +02 15456
FordM F 8.08 8.08 35891 e ‘
Altria s MO 69.65 66 ° 0111 CarolinaGp CG 77.15 7.15 5 15144
BrMySq BMY 2154 2154 . 27287 Qualcom QCOM 43.71 43.71 y 14843
NYSEGrp NYX 101.00 10028 -72 27083 | Newport NEWP 1657 16.57 14766
Hallibtns = HAL 32.76 32.87 +11 24332 SprintNex S 19.40 19.40 14087 .

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



=m. -

THE TRIBUNE

WEDNESDAY, APRIL 4, 2007, PAGE 5B



Tropical in joint

f
t
'


@ By CARA BRENNEN-
' BETHEL
'. Tribune Business

‘ Reporter

, new collaboration
between two ship-
ping companies

should make it easier for goods
to be shipped between the US,
Bahamas and the Caribbean.

Tropical Shipping and Con-
way Freight have announced
the formation of Tropi-
calDirect, a new service which
will provide seamless door-to-
port shipping from the US to
ports throughout the Bahamas
and the Caribbean.

According to Gary Frantz,
a spokesman for Con- Way
Freight, TropicalDirect will
make it easier for businesses
shipping bulk goods out of the
US by reducing the amount of
handlers their customers have
to face.

He explained: “This creates
a linkage between the two
companies, where we can share
our IT, information, staff and
resources, the result being that
our customers don’t have to
worry about multi-holders;
they can make one phone call
and their packages will be
picked up and shipped, and
they only have to deal with one
person and have just one bill. It
is more convenient for them”

In a telephone interview
yesterday, Mr Frantz said the
service had been offered in test
phase and gained favourable
reviews. — :

“So far, we have gotten very
positive feedback from our
customers,” he added.

Mary Udry, spokeswoman
for Tropical Shipping in the
US, told The Tribune that the
benefit to Bahamian customers
is that they can obtain ‘their

goods without having to travel. .

i

to the US.

“They can connect the ship-
pers and have it shipped direct-
ly to the islands,” she said,
adding that Tropical Shipping
is seeking to get the word out
about the service.

According to a release issued
by the two companies, services
to more than 30 ports will be
offered.

“Starting today, US shippers
with products bound for the
Bahamas and the Caribbean
can start the export process
with a single toll-free phone
call to Tropical Shipping at
(800) 874-3848. With that call,
Tropical Shipping’s customer
service personnel can engage
the Con-way Freight network
of more than 440 service cen-
tres in the United States to
execute US ground delivery to
Tropical’s warehouse receiv-
ing locations in New Jersey
and South Florida,” it said.

“Tropical Shipping then
oversees ocean carriage of the
shipment to its final island des-
tination. Leveraging each com-
pany’s expertise, Tropi-
calDirect offers advantages
including single-carrier
accountability, shipment track-
ing, expert documentation sup-
port, all-inclusive door-to-port
pricing and single-invoice
billing for most shipments.”

“Con-way Freight and Trop-
ical Shipping have recognised
the significant need to help US
shippers in the Bahamas and
the Caribbean manage con-
flicting land and sea schedules,
and move freight more effi-
ciently and on time,” said
David S. McClimon, president
of Con-way Freight. “Tropi-
calDirect puts an end to the
frustration of dealing with mul-
tiple carriers, pricing structures

. and freight bills, delivering a

more effective service and sin-

shipping venture

gle-provider convenience.”

“We are always looking for
new ways to meet the shipping
needs of our customers, and
this collaboration provides an
excellent way to do just that,”
said Rick Murrell, president of
Tropical Shipping.

“Working with Con-way
Freight, we will continue to
provide a superior customer
experience that has been the
foundation of our service for
more than 40 years.”

The Con-way Freight/Trop-
ical Shipping collaboration
provides service to ports in the
Bahamas, Eastern Caribbean,
the British Virgin Islands, the
Turks and Caicos Islands, the
US Virgin Islands, the Cayman
Islands and the Dominican
Republic.

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. |



‘ f Ai, Lal 1
Orrice ADMINISTRATOR & CLIENT RELATIONSHIP MANAGER

Our client, a bank & trust company, is seeking applications for the following managerial’

positions:

OFFICE ADMINISTRATOR:

%

REELED LLL LLL L LLLP LLL CUO

RR OEE OE DE PCE PEPE PEPE PPE EI IE PE

MESSAGE FROM:

THE CLEARING
BANKS ASSOCIATION

The Clearing Banks of the Bahamas
advise that Easter Holidays Banking
hours will be as follows:

Thursday, April 5th
9:30am - 4:30pm

Friday, April 6th
CLOSED

Monday, April 9th
CLOSED

Regular Banking hours will resume
on Tuesday, April 10th from
9:30am - 3:00pm



RE RE RE RE RR RR RE RR RE AR A Te eA ee er Ae ee ee” A” AA Ae DRA De

eA

fF.

EEE EERE PO APIA III AAI IL ALIA ALLAN ALAA LI AI IAA IAI LIS EEE

uf

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. :

REQUIREMENTS & PERSONAL ATTRIBUTES FOR OFFICE ADMINISTRATOR:

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

CLIENT RELATIONSHIP MANAGER:
Responsible for the maintenance and control of client records, payments and
disbursements, the preparation and analysis of monthly client financials and invoices, 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.

' 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.

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 skills
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

Both positions offer attractive salary and benefits package, reflecting the
successful applicant’s experience and qualifications, including a pension plan

and medical coverage.

Qualified individuals should submit complete resumés including references before April

10", 2007 to:

Mark E. Munnings
Partner
Deloitte & Touche
P. O. Box N-7120
Nassau, Bahamas
or

Email:mmunnings@deloitte.com.bs



Deloitte.

RESORT MARINA
THE BAHAMAS ©

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

Montana Holdings Ltd owners of Rum Cay Resort
Marina, currently under development have just acquired a sister
property, on the island of Rum Cay. Sumner Point Marina extends
over 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.

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

Co-ordinate Montana client visits to Rum cay

e

e

e Supervision of staff and suppliers.

@

e Manage Montana Sales Office on Rum Cay

Skills and Attributes

e minimum 5 years prior management in a similar establishment
Excellent marine, general engineering and maintenance skills
Experienced chef or professional qualification in hotel and
catering management
Superb organisational and administrative skills
Extremely computer proficient
Highly motivated self starters who have the will and talents to
operate a challenging business in a remote location with total
autonomy

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

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

Fax 677 3007
Email: island_developmenti1@yahoo.com







} NOTICE IS HEREBY GIVEN as follows:

! (a) The above Company is in voluntary dissolution under the
provisions of Section 137 (4) of the International Business




EERE a ———

ow ED CARS OR RO AT EY

PAGE 6B, WEDNESDAY, APRIL 4, 2007





BUSINESS

THE TRIBUNE



More than 50 firms to exhibit

at hotel sector trade show

ore than 50
Bahamian compa-
nies will be exhibit-

ing at the Bahamas Hotel
Association’s (BHA) upcom-
ing fifth annual Allied Mem-
ber Trade Show and Expo,
which is expected to attract
record numbers of buyers and
sellers when it is held next
Thursday.

Among the developers,
hotels and restaurants who will
be represented by buyers will
be the British Colonial Hilton,

‘omfort Suites Paradise

sland, Graycliff Hotel and
Restaurant, Cable Beach
Resorts, Sunrise Beach Club
and Villas, Four Seasons
Resort, Grand Isle Villas,
Green Turtle Club, Anthony’s
Bar and Grille, Bakers Bay
Golf & Ocean Club, Compass
Cay in Exuma, French Leave
in Eleuthera, and the I-Group
in Mayaguana.

The exhibitors will include
Albury’s Locksmithing,
Bahamas Degradable Plastics,
Bahamas Embroidery Uni-
form Experts, Bahamas Food
Packaging, Sherwin Williams
Paints, Bahamas Waste, Black-
beard’s Cay, Brita Caribbean
Limited, Caribbean Beverage
Systems, d’Albenas Agency
Limited, CITS Group, DHL
Bahamas Limited, Forsythe’s
Communications, Global Con-
sultants, Guest Tek, HITS
Wireless, Inter-Chem, Island
Rose Teas, Island Wholesale,

Companies Act 2000.

(b) The dissolution of the said Company commenced on the
29th day of March, 2007 when its Articles of Dissolution
were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is George Clifford
Culmer of BDO Mann Judd, PO. Box N-10144, 3rd Floor,
Ansbacher House, East Street, Nassau, Bahamas.

Dated the 3rd day of April A.D., 2007.

GEORGE CLIFFORD CULMER
Liquidator

Legal Notice

NOTICE

INTERASIAN RESOURCES GROUP LIMITED

The Mailboat Company, the
Ministry of Tourism’s Authen-
tically Bahamian Program,
Passion Tea and Coffee Com-
pany, Prime Bahamas, Purity
Bakery, Scottdale Bedding,
Sun Tee Bahamas Sportswear,
Sundrop Creations, the Work
Centre, Imperial Mattress, the
Ministry of Agriculture and
Fisheries, the College of The
Bahamas Culinary & Hospi-
tality Management Institute,
and the University of West
Indies Centre for Hotel and
Tourism Management.

“This is a premier event for
our Allied members, and an
excellent forum for strength-
ening business linkages
between the hotel sector and
other areas of our economy,”
said BHA president, Russell
Miller. “Since its inception, the
expo has gotten bigger and
better each year, and is prov-
ing to be an excellent forum
to support the creation of new
businesses, expand existing
business relationships, and
bringing people together”.

The expo attracts owners
and managers of hotels and
restaurants, purchasing repre-
sentatives, chefs and other pur-
chasing decision makers. In
addition, exhibitors have pre-
arranged personal one-on-one
meetings with purchasing rep-
resentatives from leading

SEE page 12B
















TAYLOR INDUSTRIES LTD.
WILL BE CLOSED
FOR THE EASTER HOLIDAY ON

FRIDAY, APRIL 6TH
SATURDAY, APRIL 7TH
MONDAY, APRIL 9TH

(| WE REGRET ANY
INCONVENIENCE THIS WILL
| CAUSE TO OUR CUSTOMERS.



FORT CANNING LIMITED
NOTICE IS HEREBY GIVEN as follows:
(a) FORT CANNING LIMITED is in voluntary dissolution

under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

(b) The dissolution of the said company commence on the 28th
March, 2007 when the Articles of Dissolution were submitted
to and registered by the Registrar General.

(c) The Liquidator of the said company is Mark Edward Jackman
of c/o 1 Raffles Link #05-02, Singapore 039393.

Dated this 04th day of April, A.D. 2007

Mark Edward Jackman
Liquidator

Legal Notice

NOTICE




















B AMONG the developers, hotels and restaurants who will be represented by buyers will be the British Colonial Hilton (above)

A Sales Man Needed Urgently

We are a growing retail company, we are offering:

Base Salary, Bonuses, Pension Plan, Training and lots of
Fun. We are looking for: A young man between the age of
17 and 25, he must be Energetic, Out

Going, Stable, Hard Working, Well Groomed, Honest and
Reliable.

Interested then call for an interview
356-4512 or 356-4514

NOTICE

NOTICE is hereby given that LEONARDO ARITIS OF
PINEWOOD GARDENS, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 28th day of March, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas. :





NOTICE

The public is hereby notified that all entrances to and
exits from the Shirley House and the 52 Shirley Street
Car Parking properties and which are situate on the
southeast comer of the intersection of Shirley Street and
Charlotte Street on the Island of New Providence shall
be closed to the public from 7:00am on Sunday April
8th, 2007 to 7:00am on Monday April 9th, 2007 in
order to preserve the Private Properties Rights and to
prevent the Acquisition ‘by the Public of any Right of
Ways.

Nassau Enterprises Limited, Bahamian Properties
Limited.

2001 BMW 740I1L

Mint Condition Navy Blue
Tan Leather Interior Fully Loaded
Bluetooth Hands free phone system Satellite Radio
Electronic Damping Suspension Control
All Leather
Sunroof
Power Seats
Sport Steering Wheel
Sport Wheel
Rear Head Air bag Restraints
Rear Side Air bag Restraints
Engine Description: 4.4L V8
Headlights: Xenon High Intensity

$41000.00 TEL 356-0372 Days Cell



(FILE photo)

NOTICE

NOTICE is hereby given that CHRISTOPHER C. HEWITT
OF KEMP’S BAY, SOUTH ANDROS, BAHAMAS is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a_ citizen
of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be
granted, should send a written and signed statement of
the facts within twenty-eight days from the 28th day of
February, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



NOTICE

NOTICE is hereby given that BASELAIS BIEN-AIME OF ©
FAITH AVENUE, CARMICHEAL RD., NASSAU, BAHAMAS,
is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should

send a written and signed statement of the facts within
twenty-eight days from the 28th day of March, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas. ss

NOTICE

NOTICE is hereby given that CREAMO ANTONIO
CARTWRIGHT OF MATTHEW TOWN, INAGUA, 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 4th day of April, 2007
to the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ELAINE RAHMING OF
KING STREET, MURPHY TOWN, P.O. BOX AB-20774,
ABACO, BAHAMAS is applying to the Minister responsible
for Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 28th day of
March, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

INTERASIAN RESOURCES GROUP LIMITED

Notice is hereby given that the above-named Company 1s in
dissolution, commencing on the 29th day of March 2007
Articles of Dissolution have been duly registered by the Registrar. The
Liquidator is George Clifford Culmer, CO BDO Mann Judd, P.O. Box
N-10144, 3RD Floor, Ansbacher House, East Street, Nassau, Bahamas

All persons having claims against the above named Company
are required on or before the 7th day of May 2007 to send their
names and addresses and particulars of their debts or claims to the
Liquidator of the Company or, in default thereof they may be excluded
from the benefit of any distribution made before such debts are proved

Dated this 3rd day of April 2007.

GEORGE CLIFFORD CULMER
Liquidator





Manse
S



THE TRIBUNE BUSINESS

e cciiiees |

JAN UARY
Sheniqua Brennen Curry

i ia Cue

x es AS 5
SY

eS ML SOC

WEDNESDAY, APRIL 4, 2007, PAGE /B

Meet Our 2006

Brides of
the Month

One of wnese lucky
mH pn Ib a
COTM Lier LAnLeS Witt DC (TOWNE

“Kellys Bride of The Year”
Sunday April 15th, 2007

Each Monthly Bride received fabulous FREE gifts
from the following manufacturers...

* KELLY’S - $250 Gift Certificate

¢ MIKASA - “Garden Terrace” Crystal Heart Dish
¢ NORITAKE - Tea Service for 4

* BUTTONS BRIDAL & FORMAL WEAR - $50 Gift Certificate
° WEDGWOOD - “Windsor” Salt & Pepper Set |

¢ ROYAL DOULTON - “Coalport’ figurine

* WATERFORD - Crystal bottle stopper

¢ BALTA RUGS - Rug

¢ SCOTTDALE BEDDING - Two Pillows

e BEAUTY SPOT - Gift Certificate

* PRESTO INTERNATIONAL - Lemonade Maker

¢ GREEN HILL - Music CD

Bride of The Year Gifts include:

KELLY’S - $1000 Gift Certificate

BALTA-Rug ,

PORTAL PUBLICATIONS - Framed Picture
BEAUTY SPOT - Gift Certificate

NORITAKE - “Regina Platinum” China for 8
ROYAL DOULTON - “Old Country Roses” Cake Plate
WEDGWOOD - “India” Tea service for 6
WATERFORD - Crystal Water Pitcher

VILLEROY & BOCH - “Emily”: 30pc Flatware Set
MIKASA - “Stephanie Platinum” Crystal for 8
COLUMBIAN HOME - 8pc Stock Pot set

BLACK & DECKER - Food Processor
RUBBERMAID - Storage Organizer

IO RO CO

Brides-to-be,
come and visit
our booth at the
19th Annual
Bahamas
Bridal Show,
Wyndham
Nassau Resort
Sunday
April 15th, 2007

RE G I S TRY Tickets”

- available at
Kelly’s

Kelly’s "313i. scout.

St iy nt id

; . Pe Mn tere dil: MeL
Astacia Stewart Brice ? Ua Ls

dreams come true!

Monday-Friday 3 00am-8:00pm
Tel: ei) eee, Saeey 00am-9:00pm

yg
AUGUST Fax: (242) 393-4096 Sr ahaa le:
om Gancm

OCTOBER NOVEMBER DECEMBER
TTS eae Es Se AY TT OTTO CUAL UTM



ae A

i 5a ft Se ick aa Mons



PAGE 8B, WEDNESDAY, APRIL 4, 2007 | . | THE |tHIBUNE( F

“Eq: taal dda | “Leader in Personal Banking Services” CONSOLIDATED STAT

a
De | oO i tte , Deloitte & Touche | COMMONWEALTH BANK LIMITED rradd
Chartered Accountants | CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2006 ew
and Management Consultants | (Expressed in Bahamian $'000s)
2nd Terrace, Centreville
PO. Box N-7120
Nassau, Bahamas



2008. Jui)
Tel: +1 (242) 302-4800 woe ae .. eel
: print bathed sepa Cash and deposits with banks (Note 6) $ 31,380 es 18 293,
iad ee : Balances with The Central Bank of The Bahamas (Note 6) 60,915 42,125 | —
teeter tenga REPORT Investments (Note 7) 86,057 75,179
Seat eiee. Loans receivable (Notes 8, 17 and 20) 809,606 692,160 ~
Premises and equipment (Note 9) 29,669 25,473
We have audited the accompanying consolidated financial statements of Commonwealth Bank Limited (the “Bank”) Other assets 1.016 746)

which comprise the consolidated balance sheet as of December 31, 2006, and the related consolidated statements
of income, changes in equity and cash flows for the year then ended, and a summary of significant accounting
policies and other explanatory notes.



Management's responsibility for the financial statements



Management is responsible for the preparation and fair presentation of these consolidated financial statements in

accordance with International Financial Reporting Standards. This responsibility includes: designing, implementing &
and maintaining internal controls relevant to the preparation and fair presentation of consolidated financial statements LIABILITIES: Cl
that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate Deposits (Notes 10, 17 and 20) $ 798,394 $ 680, 334,
accounting policies; and making accounting estimates that are reasonable in the circumstances. .
Life assurance fund (Note 11) 13,353 10,816 |"~~
ene Sennen Other liabilities 15,435 13,383
Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We Total liabilities 827,182 704,530 + 454
conducted our audit in accordance with International Standards on Auditing. Those Standards require that we plan
and perform the audit to obtain reasonable assurance as to whether the consolidated financial statements are free of :
material misstatement. SHAREHOLDERS’ EQUITY: IS
Share capital (Note 12) 86,947 62,773— |-—
An audit involves procedures to obtain audit evidence about the amount and disclosures in the consolidated financial Share premium 26.429 21,725 74M
statements. The procedures selected depend on the auditors’ judgment, including the assessment of risks of material - ; : ‘
misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk General reserve (Note 13) ; 10,000 10,002
assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation in the Retained earnings 68,085 54,948-4-—
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. ~ Jotalshareholders’ equity 191,461 149,446i: MY
An audit also includes evaluating the appropriateness of accounting policies used and significant estimates made by , : walt
“hg }

management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit



opinion.

Pelnion The accompanying notes form an integral part of the Consolidated Financial Statements.

In our opinion, the consolidated financial statements present fairly, in all material respects the financial position of the .
Bank as of December 31, 2006, and the results of its operations and its cash flows for the year then ended in - These Consolidated Financial Statements were approved by the Board of Directors on January 29, > |"
accordance with International Financial Reporting Standards. 2007, and are signed on its behalf by:

Sloth. f foucke.

February 7, 2007 ©



A member firm of

: Deloitte Touche Tohmatsu
pbs peg ahd dl ld ell hoTes TO Cones Cian O ERANIGAL STATEMENTS YEAR ENDED DECEMBER 31, 2006 :
CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2006 (All tabular amounts are expressed in Bahamian $'000s, except per share amounts) , "e
(Expressed in Bahamian $’000s) og

1. INCORPORATION AND ACTIVITIES
Commonwealth Bank Limited (the “Bank”) was incorporated i in The Commonwealth of The Bahamas ant is licensed by The Ministry










2006 of Finance to carry out pening business under the provisions of the Banks and Trust Companies Regulations Act 2000. ay [hb
i se wd
CASH FLOWS FROM OPE r The principal activities of the Bank and its subsidiaries are described in Note 5. ai
Interest receipts $ 94,687 ' 2. ADOPTION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS ”
; In the current year, the Bank has adopted all of the new and revised Standards and Interpretations issued by the Internatiopal |
Interest payments (32, 1 94) (25,596) Accounting Standards Board (the IASB) and the International Financial Reporting Interpretations Committee (the IFRIC) of the IASB
Life assurance premiums received, net : 9,473 9,289 that are relevant to its operations and effective for accounting periods beginning on January 1, 2006. I
Life assurance claims and expenses paid (2,850) (2,621) The impact of the adoption of these new and revised Standards has been to expand the disclosure provided in these consolidated
. ‘ financial statements regarding the Bank’s pension fund. at;
Fees and other income received x 17,624 15,762 peepee an an she a nae site wo
: . ; nk has elected to present information regarding its objectives, policies and processes for managing capital (see Note 22).as
Recoveries ‘ 5,745 4,9 90 required by amendments to IAS 1 Presentation of Financial Statements in advance of the effective date for those amendments of
Cash payments to employees and suppliers (87,547) (32,859) - January 1, 2007.
54,938 48,1 96 At the date of authorization of these Consolidated Financial Statements, the following relevant Standards and Interpretations were
: . in issue but not yet effective:
Increase in loans receivable (129,202) (112,962) :
i i . IFRS 7 Financial Instruments: Disclosures is effective for accounting periods commencing January 1, 2007.
Increase in deposits 118,063 65,068
, ’ 7
Net cash from operating activities ; 43,799 302 ane Do aati of IAS 14 and application of IFRS 8 Operating Segments is effective for accounting periods commencing January
, . the
: We
: The Directors anticipate that the adoption of these Standards will have no material impact on the Bank’s Consolidated Financial
CASH FLOWS FROM INVESTING A Sane . 7 | e ain
Purchase of investments (89,573) (88,392) 8. _ SIGNIFICANT ACCOUNTING POLICIES ‘i
Interest receipts and redemption of investments 82,637 77,539 Statement of compliance - These consolidated financial statements have been prepared in accordance with International
Financial Reporting Standards. 5

Purchase of premises and equipment (Note 9) (6,568) (3,093) . a
ets ‘ bias pare Principles of consolidation - The consolidated financial statements include the accounts of the Bank and its wholly-owned
Net cash used in investing activities (1 3,504) qj 3,946) subsidiaries made up to December 31, 2006. All intra-group transactions balances, income and expenses have been 4

eliminated in full on consolidation. “

Basis of preparation - These consolidated financial statements have been prepared on the historical cost basis except for
the revaluation of certain non current assets and financial instruments. The principal accounting policies are set out below;



CASH FLOWS FROM FINAN’



Dividends paid : (27,296) (19,091)
: a. Recognition of income

Proceeds from common shares issued 5,045 3,866 i. Interest revenue is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate

Red empti on of preferen ce shares . (1 008) applicable, except for impaired loans receivable (see Note 3c). 6,
’

Issuance of preference shares 24,125 875 ii, Fee income is recognized on a cash basis. Mi

Stamp tax paid on share capital increase (300) (120) | iii. Rental income is recognized on a straight-line basis over the term of the relevant lease.

Share based payments 8 _ 133 iv. Life insurance income is recognized on the rule of 78 basis over the term of the life policy. The amount taken to income

Net cash from (used in) financing activities 1 582 (1 5 345) is adjusted by the amount of any surplus or deficit after an annual actuarial valuation. Yo

’

- Bb
b. Loans receivable - Loans receivable are carried at the principal amount outstanding, plus accrued interest receivable less
provision for loan losses.
A loan is classified as impaired whenever, in management’s opinion, there is no longer reasonable assurance of timely
collection of the full amount of principal and interest. Whenever principal and/or interest is 90 days contractually past due pn
a loan it is classified as impaired, all uncollected interest and fees are reversed from income. The amount of interest reversed
on impaired loans at December 31, 2006 was $1.0 million (2005: $1.1 million). 2

NET INCREASE (DECREASE) IN CAS i
CASH EQUIVALENTS





CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR ‘tb
EUS EOL EARS SSS ETE Payments received on loans that have been classified as impaired are applied first to outstanding interest and then to the
remaining principal. ae

CASH AND CASH EQUIVALENTS, END OF YEAR (Note 6) $ 92,295



c. Loans receivable provision and write-off policy - The Bank makes provision for bad and doubtful debts by way of a charge
to operating expense. The provision is decreased by loans written-off, net of recoveries. The provision reflects the losses
inherent in the loan portfolio at the consolidated balance sheet date. There are two types of provision, specific and general,
which are discussed below. 12

. . . . : es

The accompanying notes form an integral part of the Consolidated Financial Statements. Specific provision - Specific provisions are made against individual loans and advances where there is no longer reasonable

assurance of timely collection of the full amount of principal and interest due to a deterioration in the credit quality of the

counter party. For the Bank’s portfolio of relatively small homogenous advances such as residential mortgage, personal

lending and credit card portfolios, specific provisions are calculated using a formula driven approach. These formulae take
. into account factors such as the length of time that payments from the customer are overdue, the value of any collateral held
- and the level of past and expected losses in order to derive an appropriate provision. 3



For other lending portfolios, specific provisions are calculated on a case by case basis. In establishing an appropriate
provision, factors such as the nature and value of any collateral held, the costs associated with obtaining repayment and
realization of the collateral, and estimated future cash flows are taken into consideration. uM

General provision - General provisions are made to cover bad and doubtful debts that have not been separately identified
at the consolidated balance sheet date, but are known to be present in any loan portfolio. The level of general provision is
determined in light of the Bank's past loan loss experience, current economic conditions and other factors affecting the
business environment.





USINESS

WEDNESDAY, APRIL 4, 2007, PAGE 9B

EMENTS FOR THE YEAR ENDED DECEMBER 31, 2006 AND INDEPENDENT AUDITOR(S) REPORT

COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF INCOME YEAR ENDED DECEMBER 31, 2006

(Expressed in Bahamian $’000s)

1
'



| 2006 2005
INCOME oe -
Interest income (Notes 7 and 17) $ 104,375 $ 87,548
| Interest expense (Note 17) (32,194) (25,596)
~~ | © Net interest income 72,181 61,952
' Loan loss provision (Note 8) (11,758) (9,678)
: 60,423 52,274
Life assurance, net (Note 11) 3,534 2,462
Fees and other income (Note 15) 17,680 , 15,395
Total income 81,637 70,131
_ General and administrative (Notes 16 and 17) 38,658 35,662
' Depreciation and amortization (Note 9) 2,372 2,488
Directors’ fees 174 178
* Total non-interest expense 41,204 38,328







NET INCOME
PREFERENCE SHARE DIVIDENDS (5,099) (4,861)
NET INCOME AVAILABLE TO COMMON

SHAREHOLDERS 35,334 26,942
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
(thousands) 32,583 31,567

3
1

“EARNINGS PER SH,
| 1



The accompanying notes form an integral part of the Consolidated Financial Statements.

The Bank has decided that a general provision for losses on foans receivable should amount to a minimum of 1% of
outstanding loan balances that have not been identified as impaired.

Consumer installment and credit card loans are normally written-off if principal and/or interest payments become 180
days contractually in arrears.

Life assurance fund - All receipts from the life assurance business of Laurentide Insurance and Mortgage Company
Limited (“Laurentide”) are credited to a life assurance fund as required by The 1969 Insurance Act, under which Laurentide
is registered. The fund is reduced in respect of expenses of the life assurance business and any ee disclosed by
actuarial valuation.

‘Foreign currency translation - Assets and liabilities in other currencies have been translated into Bahamian dollars at
‘the appropriate rates of exchange prevailing as of December 31, 2006. Income and expense items have been translated
at actual rates on the date of the transaction. Gain and losses arising on foreign exchange translation are immediately
recognized i in the consolidated statement of income.

ey

Premises and equipment - These assets are carried at cost less accumulated depreciation and amortization.
Depreciation and amortization are computed on a erent basis and are charged to non-interest expenses over the
“estimated useful lives of the assets as follows:

te a

Buildings : The shorter of the\estimated useful life or
wie a maximum of 40

Leasehold improvements Lease term \

Furniture, fittings.and equipment 3 - 10 years

‘The gain or loss arising on the disposal or retirement of an item of premises and equipment is determined as the
difference between the sales proceeds and the carrying amount of the asset and is recognized in the Consolidated
Statement of Income.

Impairment of assets - At the end of each balance sheet date, the Bank reviews the carrying amount of tangible and
intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any
‘such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss
‘(if any). Recoverable amount is the higher of fair value less costs to sell and value in use. An impairment loss is
recognized as an expense immediately, unless the relevant asset ts carried at a revalued amount, in which case the
impairment loss is treated as a revaluation decrease to the extent that there is revaluation surplus.

Eamings per share - Earnings per share is computed by dividing the net income, after deducting dividends declared on
preference shares, by the weighted average number of common shares outstanding during the year. There is no material
difference between basic earnings per share and fully diluted earnings per share.

Retirement benefit costs - The Bank maintains a defined benefit plan covering all employees in the active employment
of the Bank who have at least 3 years of service or have reached the age.of 25. The plan provides pensions based on
years of service, contributions and weighted average earnings at retirement. The Bank’s funding policy is to make monthly
“contributions to the plan based on triennial valuations. The Bank pays on demand to the plan such periodic contributions
as may be required to meet the costs and expenses of the plan.

Investments held by the pension fund are primarily comprised of equity securities, preference shares, bonds and
government stock.

Pension costs for the year are the present value of the current year service cost based on estimated final salaries,
iriterest expense on the liability, expected investment return on the market value of the plan assets and the amortization
of both deferred past service costs and deferred actuarial gains and losses. Amortization is charged over the expected
average remaining service life of employees covered by the plan. Past service cost is recognized immediately to the
“extent that the benefits are already vested.

Pension costs are charged to general and administrative expenses.

“The retirement benefit obligation recognized in the consolidated balance sheet represents the present value of the defined
"benefit obligation as adjusted for unrecognized actuarial gains and losses and unrecognized past service cost, and as
reduced by the fair value of plan assets. Any asset resulting from this calculation is limited to unrecognized actuarial losses
and past service cost, plus the present value of available refunds and reductions in future contributions to the plan.

Share-based payments - The Bank issues equity-settled share-based payments to certain management staff. The Bank
determines the fair value of stock options on their grant date using the Black Scholes Model and records this amount as
“edmpensation expense. The expected life used in the model has been adjusted, based on t’s best estimate,
“for the effects of non-transferability, exercise restrictions and behavioral considerations. The fair value is recomputed over
the period that the stock options vest, with a corresponding increase to share premium. The fair value determined at the
grant date of the equity-settled share-based payments was expensed on a straight-line basis over the vesting period,
based on the Bank’s estimate of the shares that will eventuaily vest and adjusted for the effect of non market-based vesting
‘¢énditions. When the stock options are exercised the proceeds are recorded in share capital and share premium. All

outstanding options at December 31, 2005, were either exercised or lapsed during the year.

Eu

Other Stock Based Compensation Plan: The Bank offers non management staff the option of purchasing common shares
“at a 10% discount from the prevailing market rate at the time of the offer. The amount of discount is recorded as
compensation expense with a corresponding increase to share premium. Payments by staff for the shares are credited
to share capital. {
OIF a,

‘The share based payments expense has been included in staff costs in the general and administrative expenses line of
the Consolidated Statement of Income.

he

wl
4







COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY YEAR ENDED DECEMBER 31, 2006

(Expressed in Bahamian $'000s)

Preference shares (Note 12):
Balance at beginning of year $ 60,858 $
Redemption of Class “C” shares .
Issuance of Class “C”, “H”, “I” shares 24,125
Balance at end of year 84,983

60,991
(1,008)

875

60,858

Common shares (Note 12):
Balance at beginning of year 1,915 1,877
Issued 49 38
Balance at end of year 1,964 1,915

Total share capital 62,773

86,947

Balance at beginning of year
Issuance of common shares

Stamp tax on share capital increase
Share based payments (Note 14)
Balance at end of year

Balance at beginning and end of year (Note 13) 10,000

54,948
40,433

42,209
31,803

Balance at beginning of year

Net income

Common share dividends: 68 cents per share
(2005: 45 cents)

Preference share dividends

Balance at end of year

(14,203)
4,861
54,948

(22,197)
5,099
68,085

The accompanying notes form an integral part of the Consolidated Financial Statements.

Deposits - Deposits are stated at principal plus accrued interest.

Interest expense - Interest expense is accrued on a time basis, by reference to the principal outstanding and at the
effective interest rate applicable.

Investments - Investments are classified as held-to-maturity and are stated at cost plus accrued interest. Investment
income is recorded in interest income in the Consolidated Statement of Income using the effective interest rate
method.

Related parties - Related parties include officers, directors and shareholders with shareholdings in excess of 5% of
outstanding common shares, and companies that are controlled by these parties.

Equity instruments - An equity instrument is any contract that evidences a residual interest in the assets of the Bank
after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Bank’s accounting policies, which are described in Note 3, management is required to make
judgments, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from
other sources. The estimates and associated assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of the
revision and future periods if the revision affects both current and future periods.

: The following are the judgments and estimates that management has made in the process of applying the Bank’s accounting

policies and that have the most significant effect on the amounts recognized in the consolidated financial statements:

a. Provision for credit losses - The provision for credit losses represents managements’ estimate of identified credit
related losses in the portfolio, as well as losses that have not yet been identified at the consolidated balance sheet
date. The provision for credit losses is comprised of the specific provision and the general provision. The process for
determining the allowances involves quantitative and qualitative assessments using current and historical credit
information. The process requires assumptions, judgments and estimates relating to i) assessing the risk rating and
impaired status of loans; ii) estimating cash flows and realizable collateral values; iii) developing default and loss rates
based on historical data; iv) estimating the changes on this historical data by changes in policies, processes and
credit strategies; v) assessing the current credit quality based on credit quality trends and vi) determining the current
position in the economic cycle.

Fair value of financial instruments - Fair value is the amount for which an asset could be exchanged, or a liability
settled, between knowledgeable, willing parties in an arms length transaction. The best evidence of fair value is quoted
price in an active market. In most cases, however, the financial instruments are not typically exchangeable or
exchanged and therefore it is difficult to determine their fair value. In these cases, management's judgment is
required to estimate fair value. Since the calculation of fair value is based on management's estimates, which involve
uncertainties, the actual fair value realised in a sale or immediate settlement of the instruments may differ from the
estimated amount.

Pension benefits - The Bank maintains a defined benefit plan covering all employees in the active employment of
the Bank who have at least 3 years of service or have reached the age of 25. Due to the long term nature of pension
plans, the calculation of benefit expenses and obligations depends on various assumptions such as discount rates,
expected rates of return on assets, projected salary increases, retirement age, mortality, and termination rates.

Actual experience that differs from the actuarial assumptions will affect the amounts of benefit obligation and
expense.

Life assurance fund - A surplus on the Life Assurance Fund arising from an actuarial valuation is credited to income.
Due to the nature of actuarial valuations which on various assumptions such as discount rates, expected
rates of return on assets, projected mortality, and policy termination rates, actual experience may differ from the
actuarial assumptions.

BUSINESS SEGMENTS

For management purposes, the Bank including its subsidiaries is organized into two major units - Bank and Real
Estate. The principal business of the Bank is that of providing full service personal banking including the acceptance of
savings, fixed and demand deposits, providing consumer financing through loans, overdrafts and credit cards and
mortgage financing on real estate and the sale of foreign exchange. The Bank also provides credit life insurance in respect
of the Bank’s borrowers through Laurentide. For management purposes, Laurentide activities are reported as part of the
Bank and therefore are not treated as a separate business segment. The Bank also has a real estate company, C. B.
Holding Co. Ltd, that owns and manages real property. The major tenant is the Bank, however there are also several
unrelated tenants renting from the company. C.B. Securities Ltd., which was incorporated as an investment company on
September 2, 1996, had no activity in the reporting period.





PAGE 10B, WEDNESDAY, APRIL 4, 2007

Ch COMMONWEALTH | “Leader in Personal Banking Services”
Ly BANK

BUSINESS SEGMENTS (Continued)

All of the activities of the Bank and its subsidiaries are deemed to be operating within the same geographical area.
Inter-segment revenues are accounted for at competitive market prices. Inter-segment expenses are transferred at cost.
All transactions between segments are eliminated on consolidation.

The following table shows financial information by business segment:



Banking Real Estate Eiminations Consolidated
2006 2005 2006 2005 2006 2005 2006 2005
Revenue OO
External $ 81,411 $ 69,804 $ 226 $ 327 § - $ - $ 81,637 $ 70,131

ternal, = :
Total Revenue $ 81,922 $ 70,236 $ 1,357 $1,314 $ (1,642) $ (1,419) $ 81,637 $ 70,131











Net profit

Segment Net Profit$ 40,251 $ 31638 $ 182 $ 165 $ - $ - $ 40,433 $ 31,803
Other Information

Capital Additions $ 2,318 $ 2,132 $ 4,250 $ 961 § - $ - $ 6568 $ 3,093
Depreciation $ 2,221 $ 2339 $ 151 $ 149 $ - $ - $ 2,372 $ 2,488
Assets $1,017,953 $853,260 $ 12,570 $8,224 §$ (11,880) $ (7,508) $1,018,643 $ 853,976
Liabilities $ 827,804 $704,745 $ 11,458 $7,293 $ (11,880) $ (7,508) $ 827,182 $ 704,530
ene ee

CASH AND CASH EQUIVALENTS
Cash and cash equivalents is represented by cash and deposits with banks plus accrued interest and non-interest
bearing balances with The Central Bank of The Bahamas as follows:





ee = 2006 2005
Cash and deposits with banks $ 31,380 $ 18,293
Balances with The Central Bank of The Bahamas 60,915 42,125
Total $ 92,295 $ 60,418



The Bank is required to maintain a percentage of customers’ deposits as cash or deposits with the Central Bank of The
Bahamas. At December 31, 2006, this reserve requirement was $30.7 million (2005: $25.3 million).

INVESTMENTS
Investments are as follows:



1 12 months 60 months yer 60 months otal la
$ Yield % $ Yield% $ Yield% $ Yield % $ Yield’ %

Bahamas Government

Treasury Bills $ 9,954 1.839% $ - - §$ - - $ 9,954 1.839% $21,994 0.107%
Bahamas Government

Registered Stock - - 3,335 6.734% 68,269 6.123% 71,604 6.052% 49,131 6.381%
Bridge Authority - - - - 233 7.125% 233 7.125% 233 7.125%
Clifton Heritage - - - - 2,009 6.088% 2,009 6.088% 2,009 6.088%
United States

Government Stock . - - - - 990 6.990% 990 6.990% 989 6.990%
Other Equity - - - - 76 - 75 - - -
Accrued Interest
Receivable - - - - : - 1,192 - 823 -

Total § $ 9,954 1.839% $3,335 6.734% $71,576 6.138% $86,057 5.613% $75,179 4.513%



Income from investments is included in the consolidated statement of income as follows:

interest income $ 3,943 $ 3,327
LOANS RECEIVABLE
Loans receivable is as follows:
eG 2005,
Residential mortgage : $ 196,795 $ 144,860
Business : 23,405 20,097
Personal ; 567,588 506,062
Credit card . 32,288 26,249
Accrued interest receivable 8,471 8,044
, 828,547 705,312
Less provision for losses 18,941 13,152
Total : $ 809,606 $ 692,160

Provision for losses is as follows:







; 2006 ,

Balance at Provision Balance at

Beginning Loans for Credit End of
af Year WW ritten-cif _ Recoveries Losses .___Year _
Residential mortgage $ 3,463 $ (111) $ - § 283 $ 3,635
Business 582, (18) - 113 677
Personal 8,226 (10,849) 5,479 10,549 13,405
Credit card 881 1 1,224

Total provision
for credit losses _ . $ 13,152 $ (11,713) $ 5,744 $ 11,758 $ 18,941
Specific provision $ 3,316 § $ (11,713) $ 5744 $ 8668 $ 6,015
General provision 9,836 , - - 3,090 12,926
Total , $ 13,152 $ (11,713) $ 5,744 $ 11,758 $ 18,941
. 2005

Balance at / Provision Balance at

Beginning Loans for Credit End of of
Car Written off Recoveries _Losses _..__-Year__
Residential mortgage $ 41,571 $ (93) $ - $ 1985 $ 3,463
Business . 418 (53) - 217 582
Personal 10,931 (14,173) 4,843 6,625 8,226
Credit card 487 (604) 147 851 881

Total provision
for credit losses $ 13,407 14,923 4,990 9.678 13,152

Specific provision $ 8,867 $ (14,923) $ 49909 $ 4382 ¢$ 3,316
General provision 4,540 - - 5,296 9,836
Total $ 13,407 $ (14,923) $ 4,990 $ 9,678 $ 13,152



The general provision for losses on loans receivable that have not been identified as impaired is 1.58% (2005: 1.41%) of

the non-impaired loans receivable.

Impaired loans receivable is as follows:



2006
Gross Specific Net
; impaired Allowance _' Impaired
Residential mortgage $ 3,683 $ 1,037 $ 2,846
Business 1,060 448 612
Personal 6,261 3,952 2,309
Credit card 897 578 319
Total $ 12,101 $ 6,015 $ 6,086
Percentage of loan portfolio an 1.46%
Percentage of total assets , 1.19%
2005
Gross Specific Net
Impaired
Residential mortgage $ 3,877 $ 1,358 $ 2,519
Business : 389 322 67
Personal 4,771 1,536 3,235
Credit Gard. 22 = ee a ee 100 18S.
Total $ 9,300 $ 3,316 $ 5,984
Percentage of loan portfolio 1.32%
Percentage of total assets 1.09%

PREMISES AND EQUIPMENT
The movement of premises and equipment is as follows:









Cost
December 31, 2005 $ 6,004 $ 17,776 $ 3,640 $ 19,639 $ 47,059
Additions 1,096 3,096 194 2,182 6,568
December 31,2006 C7100 20,872 3,834 21,821 53,627
Accumulated

Depreciation

and Amortization
December 31, 2005 - 3,454 3,154 14,978 21,586
oe 1 ne year - 479 142 4,751 2,372
December 31, 2006 - 3,933 3,296 16, 728 | 23,958
Net Book Value
December 31, 2006 $ 7,100 $ 16,939 $ §38 $ 5,092 _$ 29,669
December 31, 2005 6,004 14,322 486 4,661 25,473



THE TRIBUNE BUSINESS

CONSOLIDATED STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2006
AND INDEPENDENT AUDITOR(S) REPORT

Depreciation and amortization expense is as follows:





Buildings $ 479 $ 479
Leasehold improvements 142 179
Furniture, fittings and equipment 1,751 1,830
Total $ 2,372 $ 2,488
10. DEPOSITS

The composition of deposits is as follows:

Demand deposits $ 60,119 $ 51,076
Savings accounts 90,869 88,978
Certificates of deposit 633,197 527,750
Accrued interest payable 14,209 12,527
Total $ 798,394 $ 680,331



11. LIFE ASSURANCE FUND
An actuarial valuation of the life assurance fund was conducted as of December 31, 2006. The calculation was based on
the greater of the total of unearned premiums and the actuarial reserve which includes provision for mortality, surrender,
expenses and adverse deviations. As a consequence, $3.534 million (2005: $2.462 million) being premiums distributable
otherwise than to policyholders, was credited to income during the year. Assets of Laurentide representing the Life
* Assurance Fund are maintained as a separate account with the Bank.

12. SHARE CAPITAL
Share capital is as follows:

Preference Shares:











Rates . Rates" , Rates
2006 2005 2006 2005 2006
Beginning of Year Rate Changes End of Year

Class A 7.0% 9.0% - (2.0)% 7.0% 7.0%
Class B» 7.0% 8.5% - (1.5)% 7.0% 7.0%
Class C 7.0% 8.0% - (1.0)% 7.0% 7.0%
Class D 7.0% 9.0% - (2.0)% 7.0% 7.0%
Class E 7.0% 9.0% - (2.0)% 7.0% 7.0%
Class F 7.0% 9.0% - (2.0)% 7.0% : 7.0%
Class G 7.0% 9.0% - (2.0)% 7.0% 7.0%
Class H 7.0% - - 7.0% 7.0% 7.0%
Class | 7.0% - - 7.0% 7.0% 7.0%
Class J - - 7.0% - 7.0% : -
Class K - - 7.0% - 7.0% -
Class L - - 7.0% - 7.0% -
Class M - - 7.0% - 7.0% -
Class N - - 7.0% - 7.0% -
B$ 000’s ; Beginning of Year Increase (Reduction) End of Year

2006 2005 2006 2005 2006 2005
Authorized Par
Class A 500 $ 15,000 $ 15,000 $ . $ - $ 15,000 $ 15,000
Class B 500 5,000 5,000 - - 5,000 5,000
Class C 100 5,000 5,000 - - 5,000 5,000
Class D 100 10,000 10,000 - - 10,000 10,000
Class E 100 10,000 10,000 - - 10,000 10,000
Class F 100 10,000 10,000 - - 10,000 10,000
Class G 100 10,000 10,000 - - 10,000 10,000
Class H 100 10,000 - - 10,000 10,000 10,000 -
Class | 100 10,000 - - ‘ 10,000 . 10,000 10,000
Class J 100 - - 10,000 - 10,000 -
Class K 100 - - 10,000 - 10,000 -
Class L 100 - - 10,000 - 10,000 -
Class M 100 - - 10,000 - 10,000 -
Class N 100 - - 10,000 - 10,000 -
Total $ 85,000 $ 65,000 $ 50,000 $ 20,000 $135,000 $ 85,000
B$ 000’s Beginning of Year issued (Redeemed) End of Year

2006 2005 2006 2005 2006 2005
Outstanding
Class A $ 15,000 $ 15,000 $ - $ - $ 15,000 $ 15,000
Class B 4,985 4,985 - - 4,985 4,985
Class C - 1,008 5,000 (1,008) 5,000 -
Class D 10,000 10,000 - - 10,000 10,000
Class E 9,999 9,999 - - -9,999 9,999
Class F 9,99 9,999 - - 9,999 9,999
Class G 10,000 10,000 - - 10,000 10,000
Class H 875 - 9,125 875 10,000 875
Class | : - - 10,000 - 10,000 -
Class J - - - - - -
Class K - - - - - -
Class L Lot - - - - -
Class M - - - - - -
Class N - - - - - -
Total $ 60,858 $ 60,991 $ 24,125 $ (133) $ 84,983 $ 60,858
ee sR

All classes of Preference Shares are cumulative, non-voting and redeemabie at the discretion of the Board. Dividend rates
are variable with Bahamian Prime rate. At December 31, 2006, Prime rate was 5.5% (2005: 5.5%).

Common Shares:

B$0.08 each
Tr 000'9 BS 00's
Authorized:
December 31, 2005 and December 31, 2006 75,000 $ 4,500



Issued and outstanding: .
December 31, 2004 31,283 1,877
633





Issuance of new shares 38
December 31, 2005 31,916 1,915
Issuance of new shares 817 49
December 31, 2006 32,733 $ 1,964
a Ser

On January 29, 2007, the Bank declared a dividend of $0.12 cents per common share payable on April 30, 2007.

13. GENERAL RESERVE
The general reserve is non-distributable and was created in 2003 to allow the Bank to address issues of an unusual or
distress situation should they occur. No such situations have occurred since the reserve was created.

14. EMPLOYEE SHARE BASED PAYMENT PLANS
Stock Option Plan:
On December 14, 1999, the Board of Directors approved an employee stock option plan for certain management staff with

a grant of two million shares on May 1, 2000. Options vested over the period from the date of grant to April 30, 2005.
Vested options not exercised at April 30, 2006 lapsed. There were no outstanding stock options at December 31, 2006.

Other share based payment plan:

Under the Bank’s employee share purchase plan, non-management staff may purchase the Bank's shares at 90% of the
closing market price on the date of grant for a restricted period each year. Employees may purchase shares having a value
not exceeding 15% of their salary at the time of the grant. Shares so purchased vest immediately but are released to the
employee on payment for the shares. Pursuant to the plan, the Bank issued 7,712 shares in 2006 (2005: 2,628).

The following table summarises information about the Stock Option Plan:













2006 2006
Weighted Weighted
Number of Average Number of Average
Stock Exercise Stock Exercise
Options Price Options Price
Outstanding at beginning of year 921,190 6.14 1,515,000 6.10
Granted - - 30,000 7.10
Expired or forfeited (117,307) 6.37 - -
Exercised (803,883) 6.11 (623,810) 6.09
Outstanding at end of year - - 921,190 6.14
Of which vested at the end of the year - - 921,190 6.14
Options available to be granted at end of year - 376,000
Outstanding Stock Options as a percentage
of outstanding shares 0.00% 2.89%

The fair value of options at December 31, 2005 were calculated using the following inputs for the Black Scholes Model:

Weighted average share price: $8.11
Weighted average exercise price: $6.14
Piped life of options 0.33
Years Risk free rate 5.75%
Expected volatility 13%

}

Expected volatility was determined by calculating the historical volatility of the Bank’s share price over the previous three
years.

The Bank recognized total expenses of $8 thousand (2005: $133 thousand) related to these equity settled share based
payrnent transactions during the year.



THE TRIBUNE BUSINESS

15.

16.

17.

18.



| “Leader in Personal Banking Services”

“q> Be wee

FEES AND OTHER INCOME
Fees and other income are as follows:





2006 2005

Fees and commissions $ 11,148 $ 10,531
Service charges 2,893 2,298
Card service revenue 4,124 911
Net foreign exchange revenue and other income 2,515 1,655
$ 17,680 $ 15,395

Total



GENERAL AND ADMINISTRATIVE EXPENSES
General and administrative expenses are as follows:































2006 = 2005
Staff costs $27,232 $25,158
Other 11,426 10,504
Total $ 38,658 $ 35,662
Staff costs include pension costs of $1.29 million (2005: $1.27 million) (see Nate 18).
RELATED PARTIES’ BALANCES AND TRANSACTIONS
Related parties’ balances and transactions are as follows:

2006 2005
Loans receivable $ 8,643 $ 10,635
Deposits $ 67,681 $ 62,611
Loans guaranteed by related parties $ 423 $ 436
Interest income $ 490 $ 462
Interest expense $ 4,421 $ 3,082
Rental expense $ 295 $ 308
General expenses $ 439 $ 447
Commitments under revolving credit lines $ 4,502 $ 4,729

Rental commitments to related parties are as follows:

2007 $ 166
2008 $ 166
2009 $ 166
2010 $ 30

Compensation of Key Management Personnel

The remuneration of Directors and other members of key management persannel, those persons having the authority
and responsibility for planning, directing and controlling the activities of the Bank, in addition to Directors Fees disclosed
on the consolidated statement of income is as follows:







2006 2005
Short term benefits $ 4,595 , $ 3,573
Post employment benefits $ 219 $ 215

BANK PENSION SCHEME
The following tables present information related to the Bank’s defined benefit pension plan, including amounts recorded

on the consolidated balance sheet and the components of net periodic benefit cost:

























2006 2005

Change in fair value of plan assets:

Fair value of plan assets at beginning of year $ 23,711 $ 19,868

Actual return on plan assets 3,443 2,682

Company contributions 1,253 978

Participant contributions 753 711

Benefits paid (273) (165)

Withdrawals from plan (742) (363)

Fair value of plan assets at end of year $ 28,145 $ 23,711

Change in benefit obligation:

Benefit obligation at beginning of year. , $ 22,544 $ 19,927
.. Employer Service Cost 1,233 1,116
,, Participant contributions Keane 753 71

_Interest cost, .,°;: avg Abed ‘1,570 1,345

Benefits paid: " (1,015) (529)

Plan amendment 7 mete

Actuarial gain on obligation 2,570 (123)

Benefit obligation at end of year $ 27,655 $ 22,544

Reconciliation of funded status:

Present value of plan assets in excess of obligations $ 490 $ 1,167

Unrecognized actuarial gain (590) (1,230)

Accrued pension liability $ (100) $ (63)

Components of pension benefit expense:

Current Employer service costs $ 1,233 $ 1,116

Interest cost ‘ 1,570 1,345

Expected return on plan assets ~ (1,573) (1,291)

Past Service Costs - Vested Benefits . = 97

Pension benefit expense included in staff costs $ 1,290 $ 1,267

19.





Movement in prepaid asset (accrued'pension liability) recognized
in the consolidated balance sheet:
Balance at beginning of year $ (63) $ 226











Expense as above (1,290) (1,267)
Contributions paid 1,253 978
Balance at end of year $ (100) $ (63)
Actual return on plan assets:

Expected return on plan assets $ 1,513 $ 1,291
Actuarial loss on plan assets 1,930 1,391
Actual return on plan assets $ 3,443 $ 2,682
Assumptions at beginning of year:

Discount rate , 6.25% 6.25%
Long term rate of return on plan assets 6.25% 6.25%
Rate of increase in future compensation 4.50% 4.50%
Assumptions at end of year: _ er eee eee
Discount rate 6.25% 6.25%
Rate of increase in future compensation 4.50% 4.50%



The Bank administers its own pension fund. The pension fund owns 487,117 (2005: 476,432) common shares and $3.58
million (2005: $3.46 million) preference shares of the Bank.

These shares have a market value of $9.7 million (2005: $7.8 million) which represents 34% (2005: 33%) of the pension
fund’s assets.

The major categories of plan assets and the expected rate of return at December 31, 2006 for each category is as follows:

Expected Return Fair Value of Plan Assets



2006 2005 2006 2005

Balances at Bank 3.75% 3.75% $ 1,583 $ 611
Equity Instruments 8.75% 7.75% 8,321 . 7,432
Government Bonds 5.63% 6.13% 9,670 8,570
Preferred Equity ‘ 7.00% 7.50% 6,283 6,163
Other Assets 0.00% 0.00% 353 162
Weighted Average on Expected Return 6.75% 6.75% $ 26,210 $ 22,938



The overall expected rate of return for 2006 is the weighted average of the expected future returns of the various
categories of plan assets as shown above, less a provision for expenses paid from the pension fund. The expected future
returns for each category are reviewed periodically and may be changed in the future years to reflect developments in
financial markets.

The Bank expects that in 2007 the amount recognized in the income statement in respect of the pension plan will be $1.2
million.

Pension funds held at the Bank and related interest expense are as follows:









2006 2005
Deposits $ 1,320 $ 591
Interest expense $ 33 $ 87
MATURITY OF ASSETS AND LIABILITIES
The maturity of assets and liabilities are as follows:
2006 =
ASSETS
On demand $ 86,245
3 months or less 89,127
Over 3 months through 6 months 5,699
Over 6 months through 12 months 16.417
Over 12 months through 24 months 39,029
Over 24 months through 5 years 250,470
Over 5 years 531,656
Total $ 1,018,643



aenane

WEDNESDAY, APRIL 4, 2007, PAGE 11B"



CONSOLIDATED STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2006
AND INDEPENDENT AUDITOR(S) REPORT



















2006 2005
LIABILITIES
On demand $ 65,585 $ 50,963
3 months or less 260,345 233,662
Over 3 months through 6 months 101,469 83,708
Over 6 months through 12 months 171,641 171,746
Over 12 months through 24 months 63,598 ’ 73,347
Over 24 months through 5 years 147,844 80,531
Over 5 years 16,700 10,573
Total $ 827,182 $ 704,530
CONCENTRATION OF LCANS RECEIVABLE AND LIABILITIES
The concentration of loans receivable and liabilities are as follows:
2006 2005
Number of Number of
_ $ 000's Accounts ___$000’s____—_— Accounts_
Loans receivable:

- Under $50,000 $ 585,819 56,451 $ 511,864 51,355
$50,001 - $100,000 79,248 1,192 69,637 1,064
$100,001 - $150,000 53,280 433 39,512 321
$150,001 - $300,000 65,665 334 43,470 221
$300,001 - $500,000 19,078 51 18,475 51
$500,001 - $1,000,900 9,121 14 5,560 9
$1,000,001 and over 7,865 5 8,750 6
Provision (18,941) - (13,152) -
Accrued interest receivable 8,471 - 8,044 7

Total $ 809,606 58,480 $ 692,160 53,027
Liabilities:
Under $50,000 $ 155,305 52,892 $ 148,147 50,286
$50,001 - $100,000 . 64,484 888 59,578 832
$100,001 - $150,000 47,251 394 40,086 326
$150,001 - $300,000 76,665 356 66,402 307
$300,001 - $500,000 57,735 145 53,185 134
$500,001 - $1,000,000 124,449 166 102,229 137
$1,000,001 and over 258,656 113 198,177 91
Accrued interest payable 14,209 - 12,527 -
Life assurance fund 13,353 - 10,816 -
Other liabilities 15,075 - 13,383 ‘-
Total $ 827,182 54,954 $ 704,530 52,113
COMMITMENTS AND CONTINGENCIES
a. In the ordinary course of business, the Bank had commitments as of December 31, 2006, as follows:
2006 2005
Mortgage commitments $ 23,505 $ 25,277
Revolving credit lines : 27,039 21,354
Standby letters of credit 1,607 637
Capital expenditures contracted / 205 179
Capital expenditure approved but not yet contracted 1,400 2,750
Total $ 53,756 $ 50,197





Revolving credit lines - are undrawn lending facilities that have been approved by the Bank to meet the
requirements of customers. They are revocable at the Bank’s discretion. The amount shown represents the
maximum amount of additional credit that the Bank could be obligated to extend. In practice many of these
commitments will remain undrawn and the amount is not indicative of future cash requirements.

Standby letters of credit - are short-term instruments used to facilitate international ‘trade typically on
behalf of an importer, subject to specific terms and conditions. They are collateralized by the underlying
shipments of goods to which they relate.

b. The Bank is obligated under non-cancelable leases on property, all of which are operating leases, expiring
no later than 2011, and on maintenance contracts for computer equipment and software expiring no later
than 2009 on which the minimum annual rentals are approximately as follows:

Minimum Rental Commitments
Computer Equipment



Leases and Software
Year BS BS
2007 328 266
2008 328 22
2009: wavs. 311 22
2010 ==> + ; sundvmessetgasd | tampatned 110 -

2014: een 53 -

Cc. The Bank has an undrawn line of credit with Bank of America, Miami for US$1 million which was established
to service customer transactions. This credit line is secured by United States Government Stock US$990
thousand disclosed in Note 7.

d. The Bank has a line of credit with Bank of Butterfield. The credit line is unsecured and is in the amount of
US$10 million. The line was fully drawn at December 31, 2006. The line was repaid in full on January 12, 2007.

The Bank has a standby letter of credit with Citibank N.A. for US$1 million, which was established to secure
settlement transactions with MasterCard. This standby credit line is secured by a time deposit of BS1
million, which is included in cash and deposits with Banks.

oO

22. RISK MANAGEMENT

a. Capital Risk Management - The Bank manages its capital to ensure that it exceeds regulatory capital
requirements and will be able to continue as a going concern while maximizing the return to shareholders
through the optimization of the debt and equity balance. The Bank's risk management structure promotes
making sound business decisions by balancing risk and reward. It promotes revenue generating activities
that are consistent with the risk appetite of the Bank, Bank policies and the imaximization of shareholder
return.

The capital structure of the Bank consists of Preference Shares and equity attributable to the common
equity holders of the Bank, comprising issued capital, general reserves, share premium and retained

earnings as disclosed in Notes 12 and 13. The Bank’s Board Executive Committee reviews the capital
structure at least annually. As part of this review, the committee considers the cost of capital and the risks
associated with each class of capital. Based on recommendations of the committee the Bank will manage
its capital structure through the payment of dividends, new share issues, common or preference and the

redemption of preference shares.
The Bank’s strategy is unchanged frorn 2005.

b. Interest rate risk - Interest rate risk or interest rate sensitivity results primarily frorn differences in the
maturities or repricing dates of assets and liabilities. Interest rate risk exposures, or “gaps” mnay produce
favcurable or unfavourable effects on interest margins depending on the nature of the gap and the direction
of interest rate movement and/or the expected volatility of those interest rates. When assets have a shorter
average maturity than liabilities, an increase in interest rates would have a positive impact on net interest
margins, and conversely, if more liabilities than assets mature or are repriced in a particular time interval then
a negative impact on net interest margin would result.

&

There is no developed derivative market in the dornestic banking sector of the econorny to assist the Bank |

in managing interest rate risk. The consolidated gap position shows more assets than liabilities repriced in
periods greater than one year. This is a typical position for a financial institulion with a large personal
customer base. The following table sets out the Bank’s interest rate risk exposure as of December 31, 2006,
and represents the Bank’s risk exposure at this point in time only:

Maturity or repricing date of interest sensitive instruments Non-interest





As of December 31, 2006 Within 3 Months 3-6months 6-12 months 1-5 Years Over 5 years rate sensitive Total
Assets

Cash equivalents $ 15,700 $ - $ 300 $ - $ - $ 76,295 $ 92,295

4.73% - 1.50% - - - 0.81%

Investments 76,796 - - - 9,186 75 86,057

5.32% - 0.00% - 8.444 5.65%

Loans receivable 46,343 226,696 5,675 254,999 275,893 £09,606

15.09% 7.91% 14.67% 14.82% 14.319 12.73%

Premises and equipment - - - - 29,669 29,669

1,016 1,016

Other assets - - 7

$ 285,072 $ 107,055 $1,018,643

TOTAL. $ 138,839 $ 226,696 $ 5,975 $ 254,999



Liabilities and shareholders’ equity

11,604 ¢ 3 798,394









Deposits $ 325,165 $ 99,561 $ 168,622 $ 193,442 $

2.41% 4.80° 5.08% 6.00% 7.03% 4.62%
Other liabilities - : - - 28,788 28,788
Preference sha 84,983 : - 84,983

7.009 : 7 - 0.007 - 7.00%
Other equity 106,478 106,478
TOTAL $ 410,148 $ 99,561 $ 168,622 $ 193,442 $ 11,604 $ 135,266 $1,018,643
INTEREST RATE SENSITIVITY GAP (271,309) 127,135 (162,647) 61,557 273.475 (23.711)

CUMULATIVE INTEREST RATE



SENSITIVITY GAP S (271,309) _$ (144,174) | $ (306,821) $ (245,264) S$ 28,211 §$ - $
COMPARATIVE 2005 $ (193,073) _$ (138,361) _$(299,839) $(213,240) S$ 32,163 S - S_ -
Average Yield - Earning Assets 8.51% 7.91% 14.01% 14.82% 14.12% 11.53%
Average Yield - Paying Liabilities 4.15% 4.80% 5.08% 6.00%
Average Margin 2006 3.11% 8.93% 8.82%

_ Average Margin 2005 4.67% 7.70% 8.73%































el

+:

UHTRUETVUDNEAAHETA

PAGE 128, WEDNESDAY, APRIL 4, 2007

2 QMO He Ret ou RE





See:
“ anerite
— —_———. oe a te eee
ry coc CONSOLIDATED STATEMENTS FOR THE YEAR
Fs - ’ OMI ONWEALTH | ENDED DECEMBER 31, 2006 AND INDEPENDENT
/Po) BANK AUDITOR(S) REPORT
meee '
eens: cader in Personal Banking Services”
_ gla ae 7 ener Oe ee
emerge.
22 RK MANAGEMENT (Continued)
prema
“SS
ramen, Credil ris’ - The Bank's credit policies are designed to maximize the risk/return trade off. The Bank's credit
= rriicics including authorized lending limits are based on a segregation of authority and centralized
am Management approval with periodic independent review by the Bank's Internal Audit Department. Consumer
a cit is a ssessed and authorized in branches within credit policies established by the Bank. Credit scoring
meer 1 used to ensure these policies are consistently applied across the Bank. Consumer credit
reer, r e feviewad monthly to identify potential failure to perform according to the terms of the contract.
a 2 €
mt idity risk Managing liquidity and funding risk is essential to maintaining both depositor confidence and
mn» et abilily in earnings
aE. YR Ont so
ENE
eee Wk manages liquidity and funding risk by ensuring that sufficient liquid assets and funding capacity are
ay alable to meet financial commitments, even in times of stress. The Board of Directors’ Executive
= x Somnquttee oversees the Bank's liquidity and funding risk management framework which, includes operating
- within clearly defined Board limits, regulatory liquidity requirements and strong effective processes to

monitor and manage risk, including contingency plans to facilitate managing through a distress situation.
slandby lines of credit are a significant part of the contingency pian and are disclosed in Note 21.

ational risk - Operational risk is the potential for loss resulting from Inadequate or failed internal
2a or systems, human error or external events not related to credit, market or liquidity risks. The Bank
{hic rick ®y mairtaining a comprehensive system of interna! contro! and internal audit, including
rionzatyona! and procedural controls. The system of internal control includes written communication of the
ank's policies and procedures governing corporate conduct and risk management; comprehensive








siness { inning; . effective segregation of duties; delegation of authority and personal accountability;
fl 1) and training of personnel and sound and conservative accounting policies, which are
egularly up These controls and audits are designed to provide the Bank with reasonable assurance
vol osoots ere safeguarded against unauthorized use or disposition, liabilities are recognized, and the Bank

ompliance with all regulatory requirements.





23. FAIR VAL i. INSTRUMENTS
PA valuc is t or which an asset could be exchanged, or a liability settled, between knowledgeable, willing
parties ir 4 ) transaction. The best evidence of fair value is quoted price in an active market. In most cases,
however, ii instruments are not typically exchangeable or exchanged and therefere it is difficult to determine
their fair value. i th ases fair value is estimated to approximate carrying value. Premises and equipment are not
consideret bh. be financial assets. The Bank considers that the carrying amounts of financial assets and financial
liabilities 1 { at arnortised cost in the Consolidated Financial Statements approximate their fair values.
L ©2007 CreativeRolations net
7106
1)
LAN? USé&, POLICY AND ADMINISTRATION PROJECT
CONSULTING SERVICES - GIS
_ LOAN # 1589/OC-BH
The Covcinment af The Bahamas, through The Office of The Prime Minister (OPM),
as recessed o toon Srom the Inter-American Development Bank for the implementation

|
|
i




MAREN, ia the Minister responsible for Nationality
and P.O. Box N-7147, Freeport, Bahamas. P.O.Box N- 7147, Nassau, Bahamas.







“ota Land U 2 Poltey and Administration Project (LUPAP).

PM roquires one (1) GaS

QQ: fit yi
oysters (fabs)

Technician for services in the area of Geographic Information

hho 418 Fechnician will be responsible for collecting geographic data using
Globi! }ovitioning Systems, performing spatial analysis using ArcGIS, digitizing and
scanning inups, developing databases and producing maps in support of the development
of Ge ssraphic ‘al Protiles (GPs) of three Bahama Islands. The work will be performed
‘in The Bahamas (Nassau and other locations/islands in the Country).



fadiviciua! Consullants interested in providing services on the activity listed above should
' fespor! io (his Notice by sending a letter of interest and a Resume-prior to 4" April 2007
basen 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

NOTICE

»y given that ERICA JAQUEL PARKER OF
i. ORIVE, FREEPORT, GRAND BAHAMA,
BAHAMAS applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a cilizen of The Bahamas, and that any person who
knows any ieason why registration/ naturalization should
not be grainod, should send a written and signed statement
of the f un twenty-eight days from the 28TH day of







NOTICE is fers!
KWAN Yi Me



é



¢






yt



tantobe an -rassings (Pref)
) END Holdin




nee

S2wk-!-| S2wk- Lov
Â¥.335 + 2606 Y 1.333665"
3.092 F451 foaeity Bahamas G&!Fund . 3.0988***

3312 ina MSI Preferred Fund 2.625419°"
1.2538 1.1592 1.233813°*
14 304 IW. QO0! 11.39457**"*

pena res
. € s e EE. ve y Ys ee
BI ! . WOE X MARKET TERMS YIELD - last 12 month dividends divided by closing price
2Wk-Hi = Hin dio-t ale sing ce in list 52 weeks Bid $ - Buying price of Colina and Fidelity

Ask $
Last Price
Weekly Vol. - Trading volume of the prior week
EPS $ - A company’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

- Selling price of Colina and fidelity
- Last traded over-the-counter price

josing price in tast 52 weeks
frevious day's weighted price for daily volume
ent day's weighted price for dalty volume
=9 from day to day
s traded today
din the last 12 months
last 12 month eamings



Vy Croat avin chosing
tf tote




per share pa

wClosing pnce divided by the



TO TRADE Ce

phe «
Dette

SUQ9O10 Th 6 is









NOTICE

NOTICE is hereby given that ELIANA OSCAR OF
SEVENTH TERRACE CENTERVILLE,
NASSAU, BAHAMAS, is applying to ihe Minister responsible
for Nationality and Citizenship, for registration/naturalization
as acitizen 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 ihe
facts within twenty-eight days from the 4th day of April, 2007
to the Minister responsible for Nationality and Citizenship,

-0.282
1.689

0.737 260
0.265
0.199
0.170
0.915
0.078
0.995

‘ y 0.02 1,000
sham ae Bropeny. Fung 11.59 11.59 0.00
ink of Bahamas 9.00 2.00 9.00
0.70 Penchmark 0.85 0.85 0.00
1.2 Sahamas Waste 2.30 2.30 0.00
112 Fidelity Bank 1.30 1.30 0.00
9.00 rable Bahamas 10.35 10.35 0.00
16, Colina ticlumngs 2.10 2.10 0.00 569
9.99 GCaramonwealth Bank 14.12 14.19 0.00
4.22 Comsolidated Water BDRs 4.7 4.80 0.03 1,000
2.40 Doctor's Hospital 2.46 2.46 0.00
5.54 Fars guard 5.94 5.94 0.00
) OS Fines 12.45 12.49 0.04 5,000
11 50 stCeanbbeaan . 14.61 ° 14.61 0.00
10.49 Focol 17.06 17.06 0.00
0.50 Freeport Concrete 0.50 0.50 0.00
7.10 ICD utilities 7.25 7.25 0.00 500
8.52 J. S. Johnson 0.00
















& Sy NEIL HARTNELL

Tribune Business Editor

A She US courts have
/ approved involustary
4 bankruptey petitions
filed against two owners of a
former Bahamas-based finuit
cial services provider by the
president of a collapsed $214
nitthon investment fund, who
is seeking to collect aad
enforce $10.442 million in
judgensents against therm.

Bill Cuthill, the former
bankruptcy trustee for-the
Evergreen Security mutual
fund, which collapsed amid
allegations it was “Florida’s
largest Ponzi fraud”, said in a
statement that the US Bank-
ruptey Court had op prowes
the involuntary bank:
petit on that he bad
against J. Anthony Elvips S,
Jon Knight and their furin.
Atlantic Portfolio Analytics
and Management (APAM).
The two were well-known in
the Bahamas as shareholders
and owners of APAM’s
Bahamian subsidiary, Inter-
national Portfolio Analytics
(IPA).

Mr Cuthill said in a state-
mént hat the petitions had
been filed to collect the judge-
ments against Mr Huggins, Mr
Knight and APAM, with
Leigh Meininger, of Meininger
& Meininger, appointed as
interim trustee.

The developments stemmed
from a judgement rendered by
Judge Arthur Briskman, sit-
ting in the US District Court
for the Middle District of
Florida, who ordered thai Mir
Knight, Mr Huggins and
Matacka Lid, a Bahamian-
registered International Busi

WLC























P.O. BOX N-8889,

recreate

aerated cts

3

SRE IOC VA RETRAIN Ne LEE ONAL ICEL LTH



oO. 400



0.020
0.060
0.050
0 240
0.040
0.680
0.045
9.000
0.240
0.570
6 500
0.510
0.900
0.100 1
0.560 15.4 G.I9
0.795 79 795%






1125 63 7.7
0 640 NM 7. B5%
0.000 (

0.000 19.4
1.320 8.3
0.000 N/M

|
|
|
|

ness Company (LBC) that they
owned, pay damages to Ever-
preen Security.

Judge Briskman ordered the
three to pay a fine of $4.889
million, pre-judgement inter-
est of $3.052 million, plus post-
judvement interest of 4.76 per
cont from March 22, 2006.

Niv Briskman also entered

judecment of $2.5 million
av ainst APAM. Mr Huggins
and Mr Knight had appealed

eaiist his, but the initial rul-
s backed by Judge John
Auioon tt on March 30, 2007.

Meanwhile, Mr Cuthill
added that he had also filed a
separate lawsuit against the
US law
inthe US Baakruptcy Court,
-coking some $510,169 in legal
sand expenses to be paid
ni their trust funds. The
lawsuit is also seeking pre-

$i







judgement interest, treble

' Mataeka’.

damages and all costs.

Mr Cuthill alleged that the
Bahamian IBC, Mataeka Ltd,
transferred $1.54 million to
Gray Robinson on November
27, 2002, the funds to be held
in a segregated trust account
by the law firm, named ‘J.
Anthony Huggins FBO



held here until July 1, 2005,
when the money began to be
disbursed to cover Mr Hug-
gins’s legal expenses.

Some $1.096 million was
paid to Evergreen Security by
Gray Robinson last year, rep-
resenting the balance of the

trust funds transferred by the
Bahamian TBC less the legal
expenses, after Mr Cuthill
brought an action to recover
the escrowed money.

The initial judgement by
Judge Briskman had resulted
trom a lawsuit brought by Mr
Cuthill to recover funds which
he alleged had been illegally
iransferred to Mataeka and
APAM - by Mr Huggins and
Mr Knight - from ENN a
Security.

Separately, Mr Knight had ,

been sentenced to five years’
probation and a $50,000 fine
alter pleading guilty during
criminal proceedings, brought
ia Manhattan. He pled guilty
to charges that he tried to
“steal more than $1 million
from Evergreen Trust”, the
Gahamian trust that acted as
the holding vehicle for the
mutu: - fund, ee beens

on and cénirolled sith Mr
Huggins.

Similarly, in regard to the
same episode, Mr Huggins



hotels and developers to dis-

cuss Ways in which they can
do business.
“We are particularly

pleased with the incredibly
osilive response to the one-
me meclinys. We added
‘his component to the expo
yours ago with just four

is, We are pleased to see
inded and this year have

al key developers doing







ithe one-on-ones as well”

dded Mr Miller.
fhe exhibition will last from
}2pm_ to 8pm, and be held at
the W yndham Nassau Resort.
“Just as the hotel sector

generates indirect employ-

firm Gray Robinson .

The funds were ”

THE TRIBUNE



received.three years’ proba-
tion and a $50,000 fine after
pleading guilty to criminal pos-
session of stolen property, a
misdemeanour. That property
belonged to the Evergreen
‘Trust.

‘The proceedings against
both men said: “The Ever-
green Trust received invest-
inent management services
from APAM through another
entity owned by Huggins and
[Knight], called International
Portfolio Analytics (IPA), a
Bahamian corporation that
managed funds for offshore
clients.

“IPA was affiliated with
APAM through their common
ownership. Matacka executed
a $6.5 million loan agreement
from the Evergreen Trust on
December 11, 1997. The crim-
inal charges....... related to this
loan agreement.”

Mr Cuthill’s separate law-
suit against Huggins and
Knight, which resulted in the
more than $10 million award
against them, had alleged: “On
or about 11 December, 1997,
Evergreen transferred approx-
imately $6.5 million to or for
the benefit of Mataeka.......

“Atleast $2.5 million of the

$6.5 million were transferred
to or for the benefit of Knight

. and Huggins. Knight and Hug-

gins then made a loan to
APAM in the amount of $2.5
million. At the time, Huggins
was a director and president
of APAM, and Knight was a
director and vice-president of
APAM.”

The suit alleged that $5.1
million of the $6.5 million
Mataeka received from Ever-
green Security was transferred
to Surety Bank & Trust, a
Bahamian bank since liqui-
dated.

The lawsuit alleges that on
or about December 18, 1997,
some $3.6 million of the
“Mataeka Transfer” was
transferred to Surety Bank &
Trust. Another $1.5 million
was then allegedly deposited
on or about December 24,
1997,

The lawsuit alleged:
“Through a series of transac-
tions, the funds deposited in
Surety Bank were denoted as
follows: 1) a deposit account in
the name of Castro in the
amount of $1.5 million; 2) a
deposit account in the name
of Boyd in the amount of $1.8
million; and 3) a deposit
account in the name of
Thomas S. Spencer in the
amount of $1.8 million.”

























ment as money is circulated
throughout the economy, they
are creators of other entre-
preneurs. This cannot be
understated,” Mr Miller said.

“All too often people point
to the concessions which are
granted hotels, but these are
not concessions — these invest-
ments would not occur if
inducements did not exist.
The Bahamas is a very high
cost of business nation, and
without inducements, the
large financial investments
required to build and operate
hotels would not be possible.
Hotel investments clearly
spurn other smaller Bahamian
investments, creating not only
jobs but small and mid-sized
businesses.”























THE TRIBUNE

WEDNESDAY, APRIL 4, 2007, PAGE 13B



ae ee ees ONS eee ee
Bahama HandPrints

celebrating 40 years
with the launch of
online store

BAHAMAHAND PRINTS
is celebrating its 40th anniver-
sary through launching an
online store and offering a lim-
ited rerun of its classic signa-
ture print, ‘Sea Treasures’.

In a press release issued yes-
terday, the company said that
through the website it hoped to
“spread a little bit of
Caribbean sunshine around the
world”.

Bahama Hand Prints is
known for its bold and colour-
ful prints depicting varying
aspects of Bahamian fruits, sea
creatures, flowers and trees,
ocean life and native flora and

fauna.

“The company has taken
steps to reach a wider audi-
ence by creating a fun line of
decorative home accessories
that bring the island style to
the most ordinary of homes:
table place mats, napkins
aprons, pillow shams and pot
holders and are available in
their complete assortment of
colors and designs,” the com-
pany said in a statement.

“More recently, the compa-
ny partnered with New York
based ‘Decorative Things’ to
add a range of lively laminated
trays, bowls and salad servers

*

to this list.”

According io co-partner Joie
Lamare, more and more
designers are deciding to incor-
porate these materials into
their tropical home decor.

“We like to offer our clients
a sophisticated interpretation
of the Caribbean that will fit
into their setting,” the state-
ment said.

Bahama Hand prints have
also released their new collec-
tion for summer 2007, with

three new fresh prints
Seashells, Seashells- featuring
conch shells; Fronds Medley -
featuring palm fronds; and
Fronds Lines - an abstract
interpretation of Fronds Med-
ley.

Two new colours are being
offered aqua and chocolate
expresso. The vintage ‘Sea
Treasures’ circa 1970, featur-
ing coral floating through sea
feathers and whips, is to be re -
released for the anniversary.



Legal Notice

NOTICE

TONNEAU STREAMS LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company

is in dissolution, which commenced on the 26th day of

February 2007. The Liquidator is Argosa Corp. Inc., P.O.
| Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

BLITZ CYRO LID.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 22nd day of
February 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE .-

OPAH LIMITED

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of OPAH LIMITED has been
completed; a Certificate of Dissolution has been issued
and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)



PUBLIC NOTICE

Palmdale Shopping parking and access roads

WILL BE CLOSED

to the public from 6:30am,
Seal SH UUCOMeS LOU ATO eID

Legal Notice

NOTICE

COLVILLE LIMITED

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of COLVILLE LIMITED has
been completed; a Certificate of Dissolution has been
issued and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

POUPON VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 8th day of
March 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

LUMBERYARD RALLY INC.

(In Voluntary Liquidation)

Notice 1s hereby given that the above-named Company
is in dissolution, which commenced on the 22nd day of
February 2007. The Liquidator 1s Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

BOCs n
The Tribune -

the #1 newspaper
MR CC UC
call 322-1986 |
me Cir VE

Legal Notice

NOTICE

SALGADOS VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 14th day of
March 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)



Legal Notice

NOTICE

ALMA VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 30th day of
January 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

HIGH SLOPES INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 26th day of
January 2007. The Liquidator is Argosa Corp. Inc., P.O.

| Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

KEAN COURT LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of KEAN COURT LTD. has been
completed; a Certificate of Dissolution has been issued
and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)





PAGE 14B, WEDNESDAY, APRIL 4, 2007

THE TRIBUNE



Over 300 Baha Mar staff | Colina parent asks for release from
51% share divestment condition

apply for voluntary
separation plan

FROM page 1B

that we’ve confirmed all of them.”

The number of applications is close to one
out of évery eight staff employed currently at
Baha Mar’s Cable Beach Resorts, the work-
force totalling some 2,500 persons.

Mr Sands said staff opted to join the scheme
for a variety of reasons, applications being
received “across the board” from numerous
departments and ranks.

He said that between 20-25 per cent of appli-
cants had applied for the Early Retirement and
Voluntary Separation Package because they
were aged between 60-65, and wanted to take
early retirement.

Others were looking at new opportunities,
both in terms of employment, starting their own
businesses and becoming entrepreneurs, and
going back to school or college.

“A number of people went into some entre-
preneurial opportunities; I think that represents
5 per cent of the applicants,” Mr Sands said.

A further 10 per cent of applications were
submitted because those staff wanted to go back
to school, Mr Sands said. “It was another very
strong reason why people applied for the plan,”
he added.

“We-were encouraged by the response. It met
our expectations in terms of the number of
applicants. I think it was very well received and
very well understood by all. It happened at a
time when opportunities for jobs and a lot of
alternatives exist in the market, and at a time
when persons are prepared to retire early or
go into other entrepreneurial opportunities.”

Mr Sands said: “We have not heard to any
material degree, any discord with regard to this
particular plan. It was a novel approach and

gave persons the opportunity to make their own
decisions as regards their financial future.

“It certainly takes out of the approach this
mandatory of forced position of separation, and
I think it is certainly a novel way of dealing
with these types of issues within organisations.

“For us, it takes out the volatility. When in a
forced, mandatory situation where persons do
not take their own decisions for their future,
it’s a totally different ball game. We are very sat-
isfied that our approach to this was the right
one.”

Baha Mar embraked on the Early Retire-
ment and Voluntary Separation Package as a
result of both employee interest and the
inevitable reduction in room inventory and
tourist numbers that would result when its pro-
posed $2.4 billion Cable Beach redevelopment
plan begins.

Relatively few such schemes have been
offered by companies in the Bahamas, but Baha
Mar took this approach to bring employee num-
bers into line with current and projected labour
needs.

On the question of approving applications,
Mr Sands said Baha Mar did not want to “cut off
our nose to spite our face” by letting go staff
members with key skills that its resort operations
would need, given the demand and labour short-
ages facing this nation.

He explained that Baha Mar did not want to
“lose quality skills that may be in short supply in
the market. There are tremendous demands for
skills, especially in food and beverage and culi-
nary departments in this country.”

The company is still locked in talks with the
Government over a supplemental Heads of
Agreement, seeking to ensure that its 43 per
cent joint venture equity partner, Harrah's
Entertainment, does not walk away from the
project by exercising a ‘walk away’ clause in its
contract after the March 15 deadline for closing
was missed.

FROM page 1B

industry’s, with the company’s
competitors alleging that it
would give it too much domi-
nance in the Bahamian life
insurance market and allow it
to control too large a share of
long-term investment assets.
Many have thought some of
the conditions imposed on the
Colina group, including Colina
Holdings (Bahamas) and Col-
inalmperial Insurance Com-
pany, too onerous, especially

stipulations such as the A. F.:

Holdings share divestment,
given that a number of BISX-
listed equities are owned by
one controlling shareholder
with largest stakes than that.

Mr Braithwaite said yester-
day that the 21 conditions issue
was “just about behind us”,
adding that he believed the
regulators and government
would be “reasonably happy
today that all issues have been
addressed”.

He said: “I wouldn’t describe
it as a significant distraction,
as it does not affect our
results.”

Mr Braithwaite said Coli-
nalmperial Insurance Compa-
ny was likely to need another
18 months to complete the
integration of the various poli-
cies and information technolo-
gy platforms inherited from the
four companies it had been
formed from - Colina, Cana-
da Life, Global Bahamas and
Imperial Life.

Once that process had been
completed, likely to be around
December 2008, Mr Braith-

waite said Colinalmperial
Insurance Company would
begin to look outwards, rais-
ing its horizons beyond the
Bahamas and seeking to com-
pete with regional giants such
as Sagicor (a 20 per cent share-
holder in its Bahamian rival,
Family Guardian), CLICO,
Guardian Life and Life of Bar-
bados.

He explained that a prime
goal was to “make ourselves
competitive with other insurers
in the region”, a major reason
why Colina Insurance Compa-
ny had started out on its acqui-
sition spree in a bid to obtain
the critical mass and
economies of scale needed to
compete with Caribbean rivals
that evolved beyond insurance
companies into major financial
services conglomerates.

“To my way of thinking,
we’ve not got to where we
need to be,” Mr Braithwaite
said. “The game is CLICO,
Guardian Life and Sagicor”,
with Colinalmperial needing
to establish a presence in mar-
kets such as Barbados and
Trinidad & Tobago.

ColinaImperial is already
moving internationally, Mr
Braithwaite saying yesterday
that efforts to open a branch in
the Turks & Caicos Islands
through either a partnership
or managing agent structure
with local involvement were
“pretty advanced”.

“Everything is in and we’re
just waiting for an approval
now, which we’ve been told

should be forthcoming short-:

ly,” Mr Braithwaite said.

He added, though, that it
would “take a couple of years”
for Colinalmperial to complete
its internal integration issues,

the company needing “this
year and next to really get our
act together”.

Yet Mr Braithwaite said
Colinalmperial would soon
look at resuming regular divi-
dend payments, and establish-
ing policies on this, a move
likely to warm the hearts of its
shareholders and _ other
Bahamian investors.

“T would certainly expect the
2006 results to be a little bit
better than 2005,” Mr Braith-
waite said. “For the first time,
we'll have organic growth. We
should see some progress.”

Shareholders will also be
able to compare for the first
time Colinalmperial’s results
to the previous year, the com-
pany having only been formed
at the beginning of 2005.

ColinaImperial still has a
presence in the Cayman

Islands as a result of its Cana- .

da Life purchase, and Mr
Braithwaite said the company
had made contact with the reg-
ulators there and was looking
to “increase our presence”,
exploring options for expanded
representation.

He added that Colinalmpe-
rial hoped to complete the sale
of its former Village Road
property in April, have
received a significant deposit
on it.

The company had also com-
pleted the first phase of its
Internet verification system,
allowing pharmacists to access
the nature of client coverage
and deductibles, having rolled
it out to all major pharmacies.

“T’m cautiously optimistic
about the future,” Mr Braith-
waite said. “I’d be surprised if
this is not a much stronger
company.”

. Company
Administrator

able to work on own initiative -Must be able to
correspond with clients, must be conversant with
all aspect of company administraton-preparation of
minutes, liquidation of companies, preparation and
filling of annual returns, redomiciliationofcompanies,
have a sound knowledge of International Business
Companies, Foundations, Protected Cell Companies,
Private Trust Companies, Companies incorporated
under the Companies Act 1992-must have Good
accounting background. Must be computer literate.

Qualified Applicants please e-mail:
jsmi1143 @hotmail.com

Baker’s ea

GOLF & OCEAN CLUB

As part of our commitment to employ 200 Bahamians on
our project we are seeking qualified Bahamians to apply
for the position of:

- Yacht Fleet Manager

Responsibilities will include:

“ ‘Must have 5-10 years experience managing five
‘or more yachts

“* » Must have diesel and gas engine experience

“ Must be Computer Literate

¢* | Must be willing to live on an out island

“¢ ° Ability to work on own initiative is important

6,

** - Ability to work with existing team

Salary and benefits will be based on experience and will
include health benefits. Only qualified applicants need
apply.

Applications can be directed to:
Indira Edwards
P.O. Box AB20766
Marsh Harbour, Abaco

Or iedwards@bakersbayclub.com

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 and a 70-room Juxury
hotel.

Legal Notice

—_ NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

CHIAN CHU INDUSTRIAL CO., LTD.

“Notice is hereby. given that in accordange; with Section, 137; (4),
of the International Business Companies Act: (No. 45 of 2000),
CHIAN CHU INDUSTRIAL CO., LTD. has been dissolved and
struck off the Register according to the Certificate of Dissolution issued
by the Registrar General on the 26th day of March, 2007.”

WANG, TING-MING
No. 20, Ling 19,
Hou Cou Villiage
San Chih Hsiang,
Taipei, Taiwan, R.O.C.
Liquidator

Legal Notice

NOTICE ___

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

BEYSS INVESTMENTS GMBH

“Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
BEYSS INVESTMENTS GMBH has been dissolved and struck off
the Register according to the Certificate of Dissolution issued by the
Registrar General on the 21st day of March, 2007.”

Mr. Brian Thomas Wadlow
34, South Hill Road
Gravensend
KENT DA12 1JX, UK
Liquidator

NOTICE TO
SHAREHOLDERS

J.S. Johnson and Company Limited hereby noti-
fies all its shareholders that based on unaudited
results for the quarter ended 31st March, 2007
the Board of Directors has declared an interim
dividend of fifteen cents (15¢) per ordinary share
to be paid on 17th April, 2007 to all shareholders
of record as of 10th April, 2007.

SN

Palmdale Veterinary Clinic

Needs

Telephonist/Office Assistant
"© Must'be an Animal Lovet" °°")
° Excellent Communications Skills Required
° Willing to Learn Veterinary Care
° Must be Client Oriented

Veterinary Assistant
° Must Be Animal Lover
° Respectful
° Reliable
° Hardworking
° Willing to Learn

Duties:
° Kennel Hand/Cleaner
° Animal Handling, Restraint and Caregiving

Fax Resume to 326-2173 or hand
_ deliver to Palmdale Veterinary Clinic.

HUMAN
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

¢ At least Five (5) years experience in Human
Resources
é
¢ Working Knowledge of the Employment
Act, 2001

Please submit your application via email to:

bahamasexecutivesearch@ gmail.com



Kat

ralgee'e"

&

“ts

. 2 ees Bere om eee ew |

ee

A eee ww mw

re |

wo em We weir. mee

ee ee wee em.



THE TRIBUNE

WEDNESDAY, APRIL 4, 2007, PAGE 15B>;



a or re

Credit growth falls

during early 2007

m@ By CARA BRENNNEN-BETHEL
Tribune Business Reporter ;

et foreign currency inflows
Niet excess reserves by $75.9
million for the period January
to February 2007, compared to the $14.9
million expansion experienced in the same
period last year, as domestic credit growth
contracted, the Central Bank revealed in
its montly report on economic develop-
ments for February.

The Central Bank reported that eco-
nomic growth momentum was maintained,
aided by steady increases in construction-
related tourism investments and moderate
growth in domestic demand.

Excess reserves advanced by $29.6 mil-
lion to $212.1 million during February
2007, compared to a decline of $14.5 mil-
lion in 2006. Likewise, 2006’s $17.3 million
drop in excess liquid assets was reversed to
a $25.8 million increase to $84.2 million,
with banks increasing their holdings of
Government securities.

Underlying the improvement was a
more than four-fold increase in commer-
cial banks’ net purchases of foreign cur-



rency from customers to $426.3 million.
which supported a shift in the Central
Bank’s transaction with banks to a net
purchase of $65.6 million from a mere $2.3
million.

Total Bahamian dollar deposits rose by
$46.6 million during February 2007, up
$44.7 million in 2006, while oil and non-oil
import payments fell by 69.3 per cent and
29.1 per cent respectively to $10.4 million
and $82.1 million.

Domestic credit contracted, which com-
bined with increased net foreign currency
inflows, reinforced gains in both external
reserves and liquidity.

For the first two months of the year,
the Central Bank revealed that Bahamian
dollar credit fell by $24.9 million com-
pared to the gain $37.8 million experi-
enced a year ago, as the public sector used
loan proceeds to reduce its indebtedness
to the banking system by $51.6 million.

A combination of tightened liquidity
conditions and seasonal borrowing trends,
growth in private sector growth slowed
by 41.7 per cent to $52.6 million. ,

Mortgages, which accounted for 43.7
per cent of the private sector credit, saw

growth slow by $10 million to $36.7 mil-
lion, overshadowing the slight $1 million
rise in consumer credit growth to $17.7
million.

The decline in net claims on the Gov-
ernment during the first two months of
the year was lower at $25.9 million, com-
pared to the $45.2 million in the previous
year.

Credit to the rest of the public sector
contracted by $9.6 million - a turnaround
from last year’s increase of $13.9 million -
while net credit to Government, which
fell by $4.6 million in 2006, grew margin-
ally by $0.1 million. Also, the bank said
accretions to Bahamian dollar deposits
rose by $66 million to $78.3 million, as
increases in fixed and savings balances
offset declines in demand deposits.

Fixed deposits firmed by $86 million,
occasioned in part by the favourable inter-
est rate environment, which was more
than double the year’s previous expan-
sion. Also, savings deposit growth
strengthened to $17.1 million from $2.5
million in 2006. However, the decline in
demand deposit was slightly reduced at
$24.8 million.

Cabinet: We will not compromise
financial services over EPA talks

The Bahamas submitted its

Everywhere The Buyers Are!

NOTICE rf

NOTICE is hereby given that DEGRACE PIERRE LEWIS-
CILLIEN OF MARSH HARBOUR, P.O. Box AB 20104,
ABACO, BAHAMAS is applying to the Minister responsible
for Nationality and Citizenship, for registration/naturalization

as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 4th day
of April, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

Conia
re Ae

jets an tr, | her. eu
Geis 4

Tee Ores Ue skeet











c we
ee

FROM page 1B

that if they happened could
undermine the economy’s sec-
ond largest industry.

However, the sector is likely
to be reassured, at least for the
moment, by the Government’s
commitment to maintaining
the position advanced to
counter the Organisation for
Econoinic Co-Operation and
Development’s (OECD)
‘harmful tax practices’ initia-
tive, namely that any further
tax information exchange
agreements (TIEAs) and talsk
on them are off the table until
the OECD and its members -
including most EU nations -
establish a ‘level playing field’
on tax issues.

Ms Warren told The Tri-
bune yesterday that the
Bahamas and its financial ser-
vices industry had to “deter-
mine to what extent we can see
opportunities, to what extent

¢
__we can see threats, and to what

extent do we engage in this
process” with regard to the
EPA.

BFSB had formed its own
sub-committee to analyse
EPA-related issues prior to
learning that the Government
had committed to negotiating
with the EU through CARI-
FORUM and signing up to
whatever offer this organisa-
tion made.

Ms Warren, who attended
the two-day technical working
group session on the EPA in
Barbados last month along
with representatives from the
Chamber of Commerce and

- other private sector groups,

said the BFSB was seeking
input on the process from both
its members and the general
financial services industry.
“From our perspective, the
priority right now is to offi-
cially engage the private sector,
now the Government has said
it will be submitting offers to

NOTICE

the CARIFORUM process on
the EPA.” |

Once the Bahamas fully
signs up to the EPA, the Most
Favoured Nation (MFN) prin-
ciple - meaning that this nation
has to offer the same trade

‘ benefits and preferences to all

other countries in a non-dis-
criminatory manner - kicks-in
when it comes to negotiating
other trade agreements.
These could include, apart

from WTO membership; thé ’

Caribbean Basin Initiative

(CBI) replacement withthe |

US, the Caribbean Single Mar-
ket & Economy (CSME) and,
at a stretch, the Free Trade
Area of the Americas
(FTAA), plus all bilateral and
multilateral deals this country
enters into in the future.

The Bahamas, in these
instances, will have no choice
but to offer other countries in
these talks the same terms it
offered and signed up to in the
EPA.

initial market access offer to
CARIFORUM at the meeting
in Barbados, with this nation
facing significant challenges
and opportunities in preparing
its laws and business environ-
ment for this and other rules-
based trading regimes.
Although the Bahamas may
have submitted an initial mar-
ket access offer, much work
remains to be done to bring

‘this nation's laws, regulations

and policies up to standard and
in line with the demands of a
rules-based trading regime.

For instance, the Bahamas
has yet to develop a competi-
tion or antitrust policy, and
does not have regimes for
Rules of Origin, Anti-Dump-
ing, Countervailing Duties and
Safeguards. These are all areas
that will need to be tackled,
and are likely to require a new
government department or
expanded Customs Depart-
ment to deal with them.



NOTICE is hereby given that NICOLA KATHERINE STEWART
PAINE OF 139, SEAGATE LANE, P.O.BOX’ F-40320,
FREEPORT, GRAND BAHAMA, BAHAMAS, is applying to
the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a. citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days from
the 28TH day of MARCH, 2007 to the Minister responsible for

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

NOTICE

NOTICE is hereby given that FANISE SIMON OF
SPANISH WELLS, ELEUTHERA, BAHAMAS is
applying to the Minister responsible for Nationality and
Citizenship, for registration/faturalization 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 4th day of
April, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE
GOTLAND STEAMSHIP
COMPANY (BAHAMAS) LIMITED



Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned cio P. O. Box N-624, Nassau, Bahamas on or
before 24th April, A.D. 2007. In default thereof they will be
excluded from the benefit of any distribution made by the
Liquidator.

Dated the 3rd day of April, A.D., 2007.

Arthur Seligman
Liquidator
Shirley House
50 Shirley Street
Nassau, Bahamas.

NOTICE

EXXONMOBIL EXPLORATION NEW
RESOURCES AUSTRALIA LIMITED

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice is hereby
given that the above-named Company has been dissolved and
struck off the Register pursuant to a Certificate of Dissolution
issued by the Registrar General on the 26th day of March,

A.D., 2007.

Dated the 2nd day of April, A.D., 2007.

K.L. Floyd
Liquidator of
EXXONMOBIL EXPLORATION NEW RESOURCES

AUSTRALIA LIMITED



NOTICE

GOTLAND STEAMSHIP COMPANY
(BAHAMAS) LIMITED

NOTICE IS HEREBY GIVEN as follows:
(a) GOTLAND STEAMSHIP COMPANY (BAHAMAS)

LIMITED is in dissolution under the provisions of
the International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the
2nd day of April, 2007 when its Articles of Dissolution
were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is Arthur Seligman of
Shirley House, 50 Shirley Street, Nassau, Bahamas.

Dated the 3rd day of April A.D., 2007.

HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD.
Attorneys for the above-uamed Company



COMMONWEALTH OF THE BAHAMAS CLE/qui/00205/2007
IN THE SUPREME COURT she

IN THE MATTER OF ALL THAT piece

parcel or lot of land situate on No Name Cay |
one of the Abaco Cays in the Commonwealth |
of the Bahamas. mye

AND al
IN THE MATTER of Quieting Titles __.,
Act 1959 “ab

AND ai

IN THE MATTER of the Petition of +
Arthur H. Lowe

NOTICE

Notice is hereby given that Arthur Havelock
Lowe Jr. is applying to the Supreme Court
of the Commonwealth of the Bahamas to
have his title to the following investigated...
under Section 3 of the Quieting Titles Act#==
1959 and the nature and extent thereofs.
determined and declared in a Certificate of
Title to be granted by the Court in accordances==

of the said land may be inspected during
normal working hours at the followinge-
places: | oi
1. “ALL THAT piece parcel or lot of
land situate on No Name Cay one of the
Abaco Cays in the Commonwealth of the
Bahamas. a
Copies of the same may be inspected during ; «
normal office hours at the following places...

a) The Registry of the Supreme Court of Nassau;’
Bahamas inl
b) The Chambers of Andrew C. Allen Law.
Chambers, 204 Lagoon Court, Olde Towne;
Sandyport, Nassau, The Bahamas.

c) The Administrator’s Office, Cooper’s Town,
Abaco, The Bahamas ie

Any person who objects to the granting of the
said Certificate of Title is required to file in the
Supreme Court and serve on the Petitioner or
their attorney a Statement of his, her or its
Claim in the prescribed form verified by an
Affidavit served therewith, by failure of any
such person to file and serve a Statement of
his, her or its Claim as aforesaid non compliance,
with this Notice will operate as a bar to such=

Claim. a
Andrew C. Allen Chambers x

204 Lagoon Court se

Olde Towne, Sandyport sae

Nassau, The Bahamas a



PAGE 16B, WEDNESDAY,










KEY WEST
High: 82° F/28° C
Low: 74° F/23°C

ONOWN IS WEAY SVEcl oI. & Jb

IGoc &

highs and tonights's lows.

U.S. Cities









Today Thursday

High ~=Low Ww High ~=Low Ww

F/C F/C F/C F/C
Albuquerque» 75/23. 46/7 po 75/23 47/8
Anchorage 41/5 25/-3 pc 44/6 28/-2 pc
Atlanta. 70/21 40/4 po 68/17 37/2 s
Atlantic City 58/14 34/1 ¢t 51/10 24/-4 pe
Baltimore’ 62/16 36/2 t 48/8 28/-2. s
Boston 40/4 33/0 r 47/8 30/-1 pc
Buffalo > 48/8 24/-4 4 38/0 20/6 sf
Charleston, SC 87/30 50/10 t 69/20 42/5 s
Chicago = 42/5 29/-1 sf 40/4» 26/-3 pc:
Cleveland 44/6 27/-2 © 34/1 23/-5: sf
Dallas 66/18. + 47/8 o> B47 45/7 oo
Denver S21 35/1) ¢ 57/13 32/0 r
Detroit) 9 42/5 24-4 sn 87/2 23/-5* st’
Honolulu 82/27 66/18 s 84/28 66/18 s

Houston 9) °76/24°S5/M2t 74/23. 51/10






Mostly sunny.

i ILS
84° F







PL







THURSDAY FRIDAY

rad,

wr



Sun and some Intervals of clouds









clouds. and sun.
High: 81° High: 79°
Low: 69° | Low: 69°





rewire

ATU

PATE

ACCUWEAITES






iE





































Periods of clouds and

Meeaatelne



sun.
High: 79°
Low: 69°







A rilleatt
















Mostly cloudy. The higher the AccuWeather UV Indexâ„¢ number, the
greater the need for eye and skin protection.
High: 79°
Low: 71°






































Ht(ft.) Low Ht. (ft.
The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure, and Today 9:39am. 2.5 3:36am. 0.1
elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 9:54p.m. 2.8 3:35pm. 0.2
thursday 10:11am. 24 4:12am. 0.2
Thursday tog pm. 28 4:08pm. 02
sec 7 are for Nassau through 2 p.m. yesterday Friday 1045am. 23 4:49am. 03
ABACO Temperature 11:06p.m. 2.7 4:42pm. 0.3
7 é HIGH) secsssstcieccscacsesmaastnnciaias f° b/26° C TT: 5 :
Bete Tart LW re rete | Saturday Tao eam O3
F/21 Normal RIQH .sccscstssssssssessenee 80° F/27°G nial
Normal IOW ....cescssscssecsesecseeeseesterteess 08° F/20° C ;
Last year’s HIGH ocjccussssueunsnennee 82° F/28°C BATE NTH EHU)
peer Faas apa HOW: ccsiscsssscisieennvecccssvisenceces OF? FATE? C Be a a
Low: 68° F/20° recipitation untise......6:59a.m. Moonrise ....9:21 p.m.
AS Of 2 P.M. YEStErdaY veeccsccssssssesssseese. 0,00" Sunset.......7:27 p.m. Moonset . . . . . 7:49 a.m.
Vear tO Gate esscsccssssesssgesanircccsvecontecsnnesiiane ied” : j
High: 80° F/27° C Normal year to date o...seeseeseneeeeeeees O46” ssc = sob Fal
Low: 67° F/19°C
AccuWeather.com
All forecasts and maps provided by A 5 ee
vi § AccuWeather, Inc. ©2007 7 i
os ELEUTHERA Apr. 10 Apr. 17 Apr. 24 May 2
85° F/29°C
:71°F/22°C
CAT ISLAND
: 80° F/27°C
266° F/19°C
SAN SALVADOR
_ High:82°F/28°C
Low: 69° F/21°C
ley ds
Low: 71° F/22°C
Today Thursday Thursday MAYAGUANA
High Low -W High Low W High Low W High Low W High: 83° F/28° C
FC FIC FIC FIC FC FIC
Indianapolis 44/6 24/-4 pe 42/5 -25/-3 pe —- Philadelphia” 57/13 “49/9 29/-1 pe
Jacksonville 87/30 53/11 t 74/23 «41/5 s Phoenix 93/33 65/18 s 94/34 65/18 pc
Kansas City 50/10 27/-2 s. 48/8° 28/-2 cc —s~PittsBurgh’ = 52/11 27-2 36/2 23/5 sf RAG
Las Vegas 87/30 62/16 pc 89/31 65/18 pc Portland,OR 62/16 46/7 c 71/21 50/10 pe High: 83° F/28°C
Little Rock 65/18 42/5 pe 6216 40/4 pe ——Ralleigh-Durham’'80/26°" 40/4: pc: Low: 68° F/20°C
Los Angeles 73/22 5713 pe 75/23 55/12 pc St. Louis 52/11 29/-1 pe 7
Louisville S429 30/1 ope’ S010 29/1 pe —- Salt’ Lake City” 69/20 47/8 68/2
Memphis 66/18 40/4 pe 57/13 38/3 pc San Antonio 77/25 5412 c . 74/23 53/11 pe Se
Miami 85/29. 69/20. pe" 84/28 668 pe 0-58/1 66/18. 56/13" pe: gn



Minneapolis 34/1 19/-7 sf 34/1 19/-7 pc
Nashville = °° OAS. S5/- pom 52/11 32/0 pe:
New Orleans 79/26 57/13 t 72/22 51/10 pc
New Yorks S21 88/9 48/8-- 32/0~ pe
Oklahoma City 62/16 42/5 pe 5713 38/3 c

Orlando» tere BG/BOGOASapesem81/27—S8/tepe: Washington, DC 64/17 38/3 t








49/9
“Adin rr :

5010 t
/27- G3ATp

9/31 58/14 s














eS és
Tucson

50/10 31/0 s







Acapulco =
Amsterdam
“Ankara; Turkey
Athens ;
‘Auckland —
Bangkok
‘Barbados. =
Barcelona
Beijing.
Beirut
Belgrade
Berlin
Bermuda :
Bogota
Brussels
Budapest
Buenos Aires
Cairo
Calcutta -
Calgary
Cancun
Caracas
Casablanca
Copenhagen
Dublin
Frankfurt

Geneva

Halifax

Havana
Helsinki

‘Hong Kong
Islamabad.
Istanbul: 25
Jerusalem
Johannesburg)
Kingston







Line

London
Madrid =
Manila
Mexico City)
Monterrey
‘Montreal —
Moscow
‘Munich —







‘New Delhi
Oslo
‘Paris
Prague /
Rio de Jane







‘St. Thomas _
‘San







Winnipeg











86/30
64/17"



-7p4/28 64/1

88/31



Today
High Low W
F/C F/C
~~ 88/31 72/22 s
54/12 38/3 ¢
55/12 = 30/-1 pe
66/18 52/11 pc
~~. 67/9 57/3 pe
94/34 77/25 pc
~ 84/28 75/23 pc
58/14 50/10 sh
55/12 41/5 s
61/16 58/14 pc
62/16. 40/4 c
50/10 32/0 pc
68/20 62/16 pc
64/17 50/10 pc
54/12 34/1 c
58/14 38/3 sh
75/23. 59/15 s
79/26 58/14 s
99/37 78/25 s
32/0 23/-5 sf
86/30 70/21 pc
81/27 66/18 c
65/18 56/13 pc
521 8940/4 c
55/12. 41/5 pe
5412 32/0 pc
5512 38/3 sh
38/3 29/-1 pc
88/31 70/21 pc
41/5 28/-2 pc
67/19 65/18 pc
79/26 60/15 pc
66/18 46/7 pc
60/15 43/6 pc
71/21 52/11 pe
84/28 75/23 pc
“78/25 66/18 ¢
55/12 41/5 pe
2500 39/3
86/30 74/23 pc
22787226600 t:
88/31 63/17 t
39/3 30/-1 r
42/5 26/-3 sn
‘48/8 32/0 °c
SQ
94/34 70/21 ss
52/11 36/2 pc
B42 34/1 pe’
47/8 32/0 pc
88/31 76/24 pc



72/22

4
'25/-
72/22 t







81/27

O15 43/6 s
26/-3 14/-10 pc













Thursday
High Low W
F/C F/C
88/31 73/22 pc
54/12 = 41/5 pc
54/12 = 41/5 sh
64/17 46/7 pe
65/18 57/13 ‘pe
96/35 80/26 pc
86/30 76/24 pc
6417 49/9 c
63/17 48/8 c
70/21 65/18 pe
47/8 = 32/0 s
52/11 39/3 pe
70/21 60/15 sh
66/18 50/10 r
64/17 = 47/8 pc
53/11 35/1 pe
75/23 59/15 s
88/31 68/20 s
101/38 76/24 s
43/6 28/-2 ¢
86/30 72/22 pce
82/27 72/22 pc
64/17 53/11 s
53/11 42/5 s
59/15 43/6 pc
6116 45/7 pe
62/16 36/2 pc
41/5 28/-2 r
81/27 63/17 c
39/3 25/-3 pc
68/20 67/19 sh
91/32 65/18 s
57/13 48/8 +
75/23 55/12 s
71/21 52/11 pe
84/28 77/25 pe
79/26 67/19 c
63/17 39/3 pc
5412. 41/5 sh
87/30 74/23 pc
70/21 48/8 t
79/26 64/17 pc
39/3 30/-1 sf
45/7 25/-3 ¢
HSA 36/2'S
f 7/13 Ne
292/33" 741/21"s
50/10 32/0 pc
57/13) 39/3's'
5412 40/4 pe
85/29 73/22 c
88/31 67/19 s
64/17 48/8 co
82/27 74/23 pc
71/21 50/0 Tr
86/30 70/21 pc



46
70/2



1 pc



Ie
39/3"

Weather (W):’s-sunny, pe-partly cloudy, c-cloudy, sh-showers, t-thundef®
storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prep-precipitation, Tr-trace



a UL

Marine FoRECAST









WINDS WAVES VISIBILITY WATER TEMPS.
NASSAU Today: E at 5-10 Knots 1-2 Feet 6-7 Miles 77°F
Thursday: VAR at 5-10 Knots 0-1 Feet 6-7 Miles ik















FREEPORT Today: SSE at 5-10 Knots : 0-1 Feet 6-7 Miles iS F
Thursday: | WSW at 5-10 Knots 0-1 Feet 4-7 Miles i5'E
ABACO Today: SSE at 5-10 Knots 1-2 Feet 6-7 Miles °F
Thursday: _ SW at 5-10 Knots 1-2 Feet 5-7 Miles 75° F

NNN) Showers
[=] T-storms
[o°"] Rain

[x * | Flurries

Fronts
Cold ==

Shown are noon positions of weather systems and
Warm Menlienliie

precipitation. Temperature bands are highs for the day.
Forecast high/low temperatures are for selected cities.

aS





uto Insurance,

choice is





JRANCE BROKERS & AGENTS

0 | Eleuthera =| Exum
SOPPADOA FT (242) 382-2860 1 Tel (24” 336-2808



Full Text




>” DOUBLE
FILET 0° FISH





HIGH
LOW

Volume: 103 No.112

WEATHER

FOR LENT em tevin’ it.

81F
69F

MOSTLY
SUNNY













Cabinet: We will not
RUMBA EL
services over EPA talks

SSR ae eae Sy)

fomez slams ici System

Lawyer says country [Era mosgs Danniely Mem coe tra aCe:
desperately in need 7 7
of quality judges.



@ By KARIN HERIG
Tribune Staff Reporter

UNTIL government solves the
significant problems in the coun-
try’s judicial system — such as
improving law enforcement
through salary increases and pro-
motions — efforts to fight crime
will continue to be simply “elec-
tion gimmicks”, lawyer Damian
Gomez said yesterday.

Throwing his full support
behind Justice John Lyons and
Court of Appeal president Dame
Joan Sawyer in their view of the
state of the judiciary, Mr Gomez
said the country is in desperate
need of quality judges. He criti-
cised Attorney General Allyson
Maynard-Gibson for her treat-
ment of Justice Lyons.

“I’m amazed that we can still
be talking about expending huge
sums of money on the police
force, on the Defence Force on
the prison officers — not that they
don’t deserve, they do — but after
we have arrested the criminal

how is he to be processed, we
know he cannot be convicted if
there is no court. But there is no
attention to providing the courts
with what is necessary to com-
plete the law and order process,”
he said while speaking as a guest
on More94’s Real Talk radio
show yesterday morning.

Mr Gomez heavily criticised
what he termed the “most vicious
and vitriolic attack” by Mrs May-
nard-Gibson on Justice Lyons in
the House of Assembly earlier
this year, emphasising that now
is not the time to risk losing more
quality judges.

“As a policy objective in déal-
ing with crime, I can’t see how
sensible people can discuss it
without having any regard to the
fact that we have no criminal
court in the modern Bahamas at
the Supreme Court level and in
New Providence, because of the
retirements (of judges), we are
likely to face a greater backlog

SEE page nine

Registered voters
now over 146,000

THE number of registered voters is up to over 146,000 and is
expected to climb by another 2000-3000 in the next few days.

Speaking with The Tribune yesterday, Parliamentary Commis-
sioner Errol Bethel said he believes that at least 148,000 Bahami-
ans will register to vote in time for the next general election.

Voters are still eligible to vote up until the day before the House

of Assembly is dissolved.

At this time it is still unknown when that will be, however, some
observers say that parliament may be dissolved as early as today,
while others are claiming it will take place next Tuesday after

Holy Week.
SEE page nine

iio INE



URAR (a:

CE BROKERS & AGENTS



nl eaten | bom
va

The Tribune

#1 PAPER IN CIRCULATION
Che Miami Herald

BAHAMAS EDITION

WEDNESDAY, APRIL 4, 2007

any eit Pr TT



Hotel revenues |

rise by 4.2%

@ By CARA
BRENNEN-BETHEL
Tribune Business
Reporter

external reserves.

paced a 2.2 per cent decline in
occupancy rates.

SEE page nine

Seventeen
named storms,

are predicted

: @i By BRENT DEAN

THE Central Bank of the :
Bahamas said yesterday that :
hotel revenues rose by 4.2 per :
cent to $370.4 million in the first

two months of the year. The : I 1
outlook for the economy, said : Which, five are expected to be
the bank, remains positive from :

tourism-related investment ; Stength or higher.

inflows, wh ich are bo osting both : released yesterday by Colorado
commercial bank liquidity and | ¢iate University (CSU). Both the
: Bahamas and the US were fortu-

The Central Bank said the ; pate and received no strikes from

revenue rise was propelled by a ; hurricanes last year, despite pre-
6.3 per cent increase in average :

daily room rates, which out- :

AMERICAN forecasters :
expect an active hurricane sea- :
son this year with 17 named :
storms and nine hurricanes, of :

These predictions

dictions of an active season.

the higher than normal predic-
tions, according

SEE page nine



‘The boss’
Celebrates

RUFF. RYDERS ee EE




@ VIRGIE ARTHUR,
7 mother of Anna Nicole
Smith, was about to.
leave court in a taxi yes-
terday, when a woman
in the crowd gave her a
toy bunny and told her
that she is praying for
her.










(Photo: Tim Clarke/
Tribune staff)

NHI Plan could




be ready ‘by the

nine hurricanes

end of the year’

: Ml By ALEXANDRIO

MORLEY
Tribune Staff Reporter

THE National Health Insur-

ance Plan could be ready for -
: implementation by the end of
intense storms of category three : the year according to the pro-
: ject’s manager Dr Stanley Lalta.
were :
: hired consultants to assist with
: the plan’s development and that
: employers would be in a better
: position to judge the plan after
: certain details had been “fine
: tuned.”
: Warm sea surface temperatures :
: and a diminishing El Nifio, are :
: contributing factors surrounding :
Its report indicated that aver- :
age room rates in New Provi- :

Dr Lalta said government has

Dr Lalta was responding to

: a survey that was conducted by
: the National Coalition for

to. CSU a Reform.

The coalition is made up of

SEE page nine



@ By PAUL G TURNQUEST
Tribune Staff Reporter



A GAG order remained in
effect yesterday as the results
of the paternity test to deter-
mine who is the biological
father of Dannielynn Hope was
supposed to be presented to the
Supreme Court.

Both men who claim to be

‘the father of Anna Nicole’s

baby girl, Larry Birkhead and
Howard K Stern, failed to show
up for:yesterday’s proceedings
In their place, their attorneys.
Emmerick Knowles, who is rep-
resenting Mr Birkhead, anc
Damien Gomez, representin;
Mr Stern, refused to comment
on what happened in court.

However, Damien Gomez
did reveal that his client,
Howard Stern, “should be” in
court when the case reconvenes
on Tuesday, April 10.

“We went to court, and the

' judge made an order, and I am

not allowed to say any furthe:
what happened,” he said.

SEE page nine

Man is stabbed
to death outside
of his home

l§ By BRENT DEAN

DESPITE calls and prayers b
politicians, religious figures an:
civic groups, the murder coun
rose Monday night to 23, whe)
28-year-old Lavardo Collie wa
stabbed to death outside hi
home. ;

The murder occurred in the
vicinity of his apartment on Palm
Tree Avenue around 10pm.
According to Police Press Offi-

*cer ASP Walter Evans, Mr Collie

was involved in an argument with
a man, who “was known to him”,
when the argument escalated,
resulting in Mr Collie being
stabbed in the chest. Mr Collie
died on the spot, according to
ASP Evans.

An individual is es
“assisting” the police with the
investigation and ASP Evans
expects that there will be closure
to the investigation shortly.

ASP Evans also expressed sym-
pathy to the Collie family for the
tragic loss of their loved one.

“This is homicide number 23
for the year, which involves
another young man whose life has
been taken away. In this instance,
it’s been a person who has a

SEE page nine

Seah hy ap pene ey Se
PAGE 2, WEDNESDAY, APRIL 4, 2007

THE TRIBUNE



FNM has 74 per cent a
of vote in radio poll |



| a celebration of nature

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

RULES

1 Family Guardian's Annual Calendar Photo Contest is open to all photographers. The title for the company’s 2008 calendar will de
“A CELEBRATION OF NATURE.” Photographs may be of any subject (animate or inanimate) or a scene which is a striking example of nature as found in
The Bahama Islands. All photographs must be taken in The Bahamas. ‘

2 DEADLINE FOR ENTRIES IS MAY 31, 2007.

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

4 Allentries must be accompanied by an official entry form, available at any Family Guardian office or when published i in the newspapers.

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

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

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

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

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

reserves the right to use such in the future.

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

11 Previously published photos are not eligible.
PHS SS SSS SS SS SS SS ee































2008 CALENDAR PHOTO CONTEST ENTRY FORM jl
Photo by Tim Higgs NAME
‘ : Family Guardian's daavetucédevenuseduaubninte bavucsuwhataibsupecacdasevocaccsodasebasacgug sesadoneessGautenssecateseeadnessacecsssedecssedesss! i
Calendar TEL BUSINESS ..icis..cc2ecc hed cecicscscessoen HOME, .....-cccccssssssccecscseceseeessseseeeeneseee F
PO-BOX ticiccee! cL STREET ADDRESS. ....ssccicccccescssceccecscssceccesssnnecnsensersssscediee j
i SIGNATURE ccsicco ee ees Ba cosas hescd dence spasipnctctcdedulonnsotoossnnnecasssvdionoryromstenneabuquan



DATE. i323... dats Aah
i

| agree that in the event that one or more of my entered photographs is selected as a winner in the 2008 Family
Guardian Calendar Photo Contest it wil become the property of Family Guardian Insurance Co. Ltd., and
| assign to Family Guardian all rights pertaining to its use in any way whatsoever. | also confirm that the
photos entered in this contest were taken in The Bahamas by the undersigned and have not been q
previously published. a

Return with photos to:

Calendar Contest, Family Guardian
Corporate Centre, Village & Eastern Road
Roundabout, Nassau, Bahamas

ENTRY DEADLINE: MAY 31, 2007

(maximum of 5) i

family guardian’s calendar photo contest.



























Platinum




4 Bronze
Bahamas Ministry of Tourism | =
Tropical Shipping Co. Ltd. 5 Seaside Real Estate

HG Christie Ltd.

Gold Sam Gray Enterprises
Bank of The Bahamas.

BTC Gibson, Rigby and Co.

Kalik Eddie’s Edge Water

‘Club Peace & Plenty
G&G Shipping Co. Ltd.
wt Coral Springs Water Company

Ron Ricardo
Fireworks Unlimited



Silver
‘ Donors
Four Seasons Resort
Scotiabank Bahamas Ltd.
Paim Bay Beach Club
Sky Bahamas Ltd.
British American Insurance
Chat ‘n Chill *
Airport Car Rental

February Point
Crab Cay Development
JS Johnson Insurance Co. Ltd.
Exuma Waste Management
Sky Limo
Exuma Chamber of Commerce





@ HUBERT Ingraham

â„¢ By RUPERT MISSICK ur
Chief Reporter
AN INFORMAL poll

launched by the radio station
More 94 FM has the FNM
ahead of the governing PLP
with 74 per cent of the vote.

As of yesterday, 631 persons
had taken part in the poll.

Of that number the BDM got
12 votes, the PLP 151 and the
FNM 469.

The station normally has poll
questions posted on its website,
and a similar question has
appeared there for the past few
months.

However, as station president
and general manager Galan
Saunders explained, the text

messaging poll gives them more .

of an opportunity to ensure that
the process is as accurate as pos-
sible.

“We realise that it is difficult
to control things on the internet.
Even though we blocked cer-
tain IP addresses from voting
twice we wanted to find a more
efficient way and a more objec-
tive way for people to vote
through a means that would
cause people to feel more
secure about voting and not feel
like someone is watching what
they are doing,” he said.

Receiving regular text mes-
sages, Mr Saunders said, allows
them to do just that as phone
numbers can be blocked from
being allowed to text again.



. Mf PERRY Ciristie

So, technically, everyone who
has voted so far cannot vote
again, unless they gain access
to another cell phone.

While the station does not
claim that the poll is scientific in
any way, it is still considered a
rewarding exercise and an inter-
esting gauge of the mood of the
station’s listeners at the very
least.

“We realise that the margin
of error can be as high as 50 per
cent but even with that, the
results are very eye-opening,”
Mr Saunders said.

The poll continues until next
Monday. To participate, listen-
ers are asked to vote for the
party of their choice by texting
either “Vote FNM” to 242-425-
3005, “Vote PLP” to 242-425-
3005 or “Vote BDM” to 242-
425-3005.

“Every day we are going to
ask people to text in their votes.
So we’re going to give these
guys a full seven days to get
their votes in for the party of
their choice,” Mr Saunders said.

The poll was launched from
the station’s talk show “Real
Talk Live”, hosted by Jeff Lloyd
as a way for the show’s listeners
to participate.

“We wanted people to have
more ways of participating in
the show instead of listening to
chronic callers and so forth or
just the various topics that come
up on a day-to-day basis,” Mr
Saunders said. 3
aes

THE TRIBUNE





© In brief

FNM plans
protest after
radio show
is pulled

THE FNM plans to hold a
protest against victimisation in
Freeport today.

The protest is said to be in
response to the pulling of the
Sunday morning religious radio
show of Rev Frederick
McAlpine following his speech
at the FNM’s introduction of
candidates in Nassau last week.

The protest will take place in
front of the ZNS office at the
BTC building in Freeport at
10am,

Warning over
mosquito
from health
professionals

CARIBBEAN health pro-
fessionals spearheading the
health preparedness of the
region for Cricket World Cup
2007 are appealing to visitors
and locals to safeguard them-
selves against the dengue car-
rying aedes aegypti mosquito.

Drawing attention to the
global alert against dengue
fever, representatives of the Pan
American Health Organisa-
tion/World Health Organisation
(PAHO/WHO) have advised
the CARICOM IMPACS
Regional Communications Cen-
tre that at present there is a
global alert against the threat
of dengue fever.

Dengue fever, which is
caused from being bitten by the
disease carrying mosquito, has
been under control in most
Caribbean countries but its
global prevalence places the
region at risk with the thou-
sands of visitors here for CWC
2007.

The appeal is of special sig-

_ nificance to visitors from crick-

eting nations in Asia where the
aedes aegypti mosquito is
infecting people with a disease
called chikungunya.
Accordingly, health officials
are encouraging visitors from
that part of the world to be



gh recent, years, PAHO and
the Caribbean Epidemiological
Centre have been working in
partnership with public health
officials in Canada and the
European Union to eradicate
the aedes aegypti mosquito and
the spread of dengue disease in
the region.

Sustained control initiatives

include enhanced surveillance

and vector control campaigns
with increased spraying around
air and seaports, hotels, and
other'visitor high traffic areas.

There are four distinct, but
closely related viruses that cause
dengue.

Recovery from infection by
one provides lifelong immunity
against that serotype but con-
fers only partial and transient
protection against subsequent
infection by the other three. .

Talk is set
on National
Training
Agency

OUTGOING MP Agatha
Marcelle will discuss the
National Training Agency, a
new initiative from the Ministry
of Youth, at the next meeting of
the Rotary Club of South East
Nassau.

The National Training
Agency is an umbrella organi-
sation set up by the government
to facilitate, co-ordinate, assess
and monitor technical voca-
tional education and training in
the Bahamas.

It aims. to increase the capac-
ity of individuals to participate
effectively in the workforce —
thereby improving their pro-
ductivity, employability and
quality of life.

She will outline the benefits
of the NTA, which include a
sustainable, appropriately
trained productive and flexible
labour force that is able to
respond to the demands of the
country’s developmental goals
and its efforts to be globally
competitive.

The meeting will take place
today 12.30pm today at the East
Villa restaurant.

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

ye CeO
822-2157 iat



LOCAL NEWS

WEDNESDAY, APRIL 4, 2007, PAGE 3

Laing: I’m not looking for



another job in case I lose






FNM candidate for Marco
City Zhivargo Laing has refut-
ed claims that he has been
seeking a new job because he
expects to be unsuccessful in
the upcoming election.

Mr Laing called it one of the
PLP’s “nasty tricks” and put it
down to the enormous pres-
sure the governing party is feel-
ing in the constituency he has
been nominated to contest.

The candidate called the
claim that he has applied for a
job, been interviewed and is
set to be trained in Nevada
“laughable” and “an outra-
geous lie”.

Mr Laing says that he is con-
fident of victory and everything
that is happening on the

Election (Â¥)
COUNTDOWN



@ ZHIVARGO Laing

ground bolsters his confidence.
In fact, he said, he regards

Candidate accuses PLP of ‘nasty tricks’



the PLP's attempt to trick the
electorate as confirmation that
things are going extremely well
for the FNM — because had
they been confident of victory
the governing party would not
need to spread such disinfor-
mation.

Mr Laing further noted that
the only job he is now applying
for is to be the member of par-
liament for Marco City and
that his interview with the vot-
ers of Marco City has been
going extremely well.

The circulated e-mail, under
the title “knowing he will lose,
Laing looks for a job”, said:
“Zhivago Laing has reportedly
filled out an application for a
job at a new business opera-
tion in Nassau and has report-
edly already been interviewed.

“Insiders say Laing's long suf-
fering wife has warned him to
find a good decent paying job

Police chief: my door is always open
for people to voice their complaints

A POLICE chief has urged
families with grievances over
alleged police brutality to make
their complaints known to him
personally.

Chief Supt John Ferguson,
commanding officer of the
south-eastern division of New
Providence, said: ““My door is
always open.”

The officer’s offer came after
parents in the South Beach
area complained that a “rogue”
policeman was making their
lives a misery. They said he
was beating teenage boys and
drinking on the job.

Chief Supt Ferguson said he

knew of no such behaviour by
any of his men but was always
accessible to people with com-
plaints.

“If there is any complaint of

police brutality in this unii, |
don’t know of it,” he said. “But
in this division we run a tight
ship regarding regulations and
the treatment of prisoners.
That goes across the board.”

Chief Supt Ferguson said a
police complaints and corrup-
tion branch, which he used to
head, handles public grievances
for the entire force.

But he said he was also will-
ing to hear complaints in his

‘bEas er Lillies and Callalilies
» Lovely Potted Orchids:

a AER ny Ea Wien

atom gl

own division. “Any member of
the public can come and see
me. My door is always open,”
he added.

However, he said parents
can often become aggrieved
when their sons are questioned
about break-ins in the area.

“People complain about
crime, but when their own chil-
dren are picked up for ques-
tioning they cry foul,” he said.

But he stressed that his was a
community-based police sta-
tion. “They can come in and
speak with me and let me
know what their concerns are,”
he added.





because she fears after the gen-
eral elections, they will be back
to square one all over again.
“Meanwhile FNM top gener-
al, Mike Edwards, is still telling

Laing's ingratitude and unchris-
tian like conduct.

“If Laing gets the job, he will
be shipped off for training at
the company's Nevada head-

friends how shocked he is over quarters in September.”

Fabulous Shopping
at

"Matson Décor

C/
&

TCHARD DESIC
Limited

CALE, tN GROUP

Nassau’s Premier Store

Rome Sas (ita eens

Baypar]! Building on Parliament Street
Telephone: (242) 323-6145

Harbour Green Centre, Lyford Cay
P.O. Box N-121, Nassau, N.P., Bahamas
Telephone: (242) 362-6656, Fax: (242) 326-9953
email:pritcharddesigngroup @coralwave.com

yourka bh ile:
the San orth de fot future,

"The Mall-at-Marathon
BOX OFFICE OF OPENS AT 10:00 / AT 10:00 AM DAILY

EFFECTIVE APRIL 04TH, 2007

memos ee | om (0 [i Yan [em
icwconcrs ew | Lc fs |
fweeTTHEROBNGONS A | OG EWA | 65 | oo |
oso Tm fk fe | [en |
pei | AG as | WA | 800 [os | |
wee fas i en
revcwmrmnone 1 | (eg [ua |e |e [ow
euro la fe a |
rmewsweee? [a |v fe [eles [ree
user Tn [aa Ln

eewron tf es Jin [if Les |
feo ee

OT

eT Taw

ea

neuroma Tia [a [um [ea | |

eRe a
| 6:00 | 8:20 | 140




PAGE 4, WED

, 2007

une Limited

THE TRIBUNE -

¢ >

PLP FNM and a



e

-N IS JURARE IN VERBA MAGISTRI
rear to The Dogmas of No Master >,
UCH, Publisher/Editor 1903-1914 =
5 UCH, Kt, O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.
ditor 1919-1972
g Editor 1972-1991 EDITOR, The Tribune. LETTER A Integrity - Can we trust you
to stand up for what you say
EI] ‘ARRON, C.M.G., M.S., B.A., LL.B. THERE are many issues —_- even if the party says differ- ©
Publisher/Editor 1972- facing us asanationbutnone [GieeS@ltglewiptcancelenmsig ently.
as important as the struggle Education — Whereas Chris-
tween t icting world eee
aily Monday to Saturday views. As Charles Colson said _ Gambling ~ We can have {4 the public cdvedion 5 :
in his book “Faith on the ©¢nomic prosperity without tem today the Christian God, »
. Box N-3207, Nassau, Bahamas line”: having to resort to gambling | prayer, and biblical creation |
Insuranc ing., P.O. F-485, Freeport, Grand Bahama “On one side are those who &0¢ all of its social ills. are slipping away.
cleave to a Judeo-Christian Family — vA aaa ° Economics — Be fiscally
ELEPHONES understanding of absolute er a kids — no sweet- responsible. As a country not
Sw irculation and Advertising) 322-1986 ate a Discipline — Greater forms to accumulate such debt that,

Airpor

Manager - (242) 502-2352
epartment - (242) 502-2387
Fax: - (242) 328-2398

d Bahama: 1-(242)-352-6608
t fax: (242) 352-9348

major embarrassment

on two central command-
ments — love for God and
love for people. On the other
side are those who believe
truth can be defined by each
individual, with a correspond-
ing view of life and culture
based on individual choice —
‘what’s right for me?’ These
two diametrically opposed
perspectives face off on issues

of discipline allowed in the
home and schools — spank-
ing when wrong.

Capital punishment — You
do the crime, you pay the
time. You take a life and you
pay with yours.

Pornography — Keep from
any public expression.

Sexual offenders — Adopt
laws similar to “Jessica’s law”
in US.

our grandchildren will never |
be able to repay.
Abortion — Make terminat-:

ing pregnancies by abortion °- v

illegal.

I plan to mail these ques-
tions to each candidate so as
to get their answers and then”
have the local papers publish
them for all to read.

The nation needs to iehow |

4

where you stand on these. ’

LAST WEEK’ in- clear that they would not start the Phase III like abortion, the militant . most important issues.
ister Glenys Han d by expansion until government agreed to certain homosexual agenda, the cause Church and State - Keeping
the comments of dor “infrastructural improvements” at the airport. and-cure forecrime.aiedical. lae state out of the church, ANDY KNOWLES o
John Rood about rity They wanted this not just for Kerzner Inter- etiics. education antl eco. . mot keeping the church out of Nassati "a
standards at Lynde Air- national, “but for the sake of tourism in the et : the religious and moral wel- ea
port. Bahamas nomics.” furor the. country April 2, 2007.

Speaking to t era Although Prime Minister Christie called Mr So the big question for us ,
farewell luncheon otel, Kerzner’s airport comments a “major exagger- as Bahamians is which party e
Mr Rood said th e to ation”, he undertook to do something about and candidates best supports
extend its pre-clea air- the problem. In fact he promised to produce us as a Christian nation. At x p erie i } Ce a
craft until security dat an airport that would be the “gem of the this point in our nation’s his-
the international a Caribbean.” A gem that would match Kerzner tory we as a people have to C é

Himself a pilot, ave International’s high class resort. _ decide which course is best for
private aircraft pr fore In good faith, Kerzner International started us “If we choose to.follow out
his return to the U life. Phase III. h ae l ‘Il b

However, in th ears On March 28 — four years later — the Cove, C ristian Valles Wee Wie A j 7
here he has seen n Kerzner International’s “all suites” hotel had its nation that is accountable to

Ambassador ~ tive soft opening. The official opening will be some- God who alone can meet and ro e i I } S acl i } g
that government a will ‘time in May. supply our needs. If we go the
be given the autho able Phase III’s water park, “Aqua Adventure”, route of each person deciding
for the security at has been opened as has Dolphin Cay and the what is right based on their mM

He was also c ma- nightclub. own view, we will be a peo- e a a aS’
tional airport’s ma 1 The convention centre will soon open. The ple who will experience the

We understand al is final segment of Phase III — the condominium wrath of God rather than his EDITOR, The Tribune.
the only airport i eets hotel — will be finished by December or early bicse, We Ee the
Homeland Securit January. This will complete the more than one POSS an eee, Uae

However, inste the billion dollar development. strongest moral and righteous AS A law-abiding citizen in my 60s, I wish to record an experi-
airport was a cont Mrs Kerzner International has honoured its nation in the world if we elect ence over the weekend which, I feel, casts light on two problems .
Hanna-Martin was art- agreement. However, the airport still remains leaders who are willing to now facing the Bahamas — declining tourism and rising crime, both ;,
ing ambassador “ /or one of the “worst airports in the world.” make decisions that are based covered in The Tribune over recent weeks. .
appropriate to pub sue Since Prime Minister Christie’s promise to on a Judeo-Christian under- My wife and I called at a roadside water depot in Nassau to ,
of airport security hen deliver a “gem” of an airport, there have been standing of absolute truth. collect our fortnight’s supply, which amounts to four large bottles. -.
he is or ought to be ere consultations, meetings in lawyers’ offices, flights We need to ask some hard The ee Hab to be very oe and would have been |,
has been establish , on to and from Vancouver, break-downs and questions. extremely frig tening for anyone less robust than ourselves.
which his office i his .-.,.restarts, until on April 11, 2005 the Airport I would like to know where We were confronted by a large, uncouth and thoroughly dis- ,
seeking to address ‘ved Authority announced that “in a matter of Beck im ddual sands oa ihe agreeable character whose job was to sell water from a hut. We had

weakness in airpor

months” the airport would be under new man-

never seen him before.

Yes, it is too ba that agement pending the “successful outcome of _ following questions that will This vile creature took our four bottles and then proceeded to ‘
unless this governi. blic, negotiations” between government and Van- help us vote for individuals — areue that we had given him only three. This blatant theft of what-’
nothing gets done. ing couver Airport Services. That was two years who can provide “God fear- ever the fourth bottle was worth was accompanied by several hos- ~
when their doors a ago. ing” leadership. tile grunts and a manner which was very intimidating.

The airport has for _ It was only on Friday that government When a candidate comes to During the ensuing argument, he threatened to punch me, moved, ”
hia Co ee ee your house ask him/her to __ threateningly towards me, and was stopped only by the intervention |’

It was in 2003 w lan- ‘the responsibility of fi onstorine the airport neo were IDEy Stand On ning Phase III at t hey into a world-class facility to the Canadian com- ae 7 we tituti they led Tim away, sneriue picked upia chunk of wood and began
made it clear that t ible pany. ; Sta eee ae —, 12 A aaa aa eae we gt ; : oie
without two things a No one knows what other red tape the new Keep enshrined in our consti- J am prepared to accept that this disgusting lout was either high
was an improved i company will have to go through with govern- tution that we abide by Chris- on drugs or mentally retarded, but either way he ought not to ,

At the groundb rzn- ment before it can start the transformation exer- tian values. Not spiritual val- have been in charge of a water depot where he has face-to-face deal-|_
er International’s and cise. : ues, but Christian values. ings with the public.
that same year, an ster However, Ambassador Rood echoes the cries Marriage - Between a man The water depot in question is in a tourist area. My wife and i
was forced to res riti- of both Bahamian and visitor when he says: and women only. Have it though residents, were dressed like tourists in shorts and casual —
cism that while th rful “The number one complaint I get from those enshrined in our constitution Shirts.
destination and pos e, it departing the Bahamas is the condition of the as such Had we been visitors, we would have taken away this brute’s,
has “one of the w Id.” airport and unfortunately that’s the last thing a ' Pilaiasia NE snarling face as our abiding i image of the Bahamas.

: . . ry to play
Five months earlie e it visitor remembers.” For the water company, this incident has already proved costly.



‘98 HYU
‘00 H
‘01

"04H



God and decide when some-
one should die.

We will never visit that depot again, we’ll never buy their water ©
again, and their name is now synonymous in our minds with this foul ,
creature and his disgusting behaviour. :
With people like him on the loose, it’s no wonder that crime fig-’
ures climb while tourism figures drop. He needs to be dealt with

before he hurts somebody.

CONCERNED CITIZEN

2 DAYS ONLY!)

Wendy’s Team
Recruitment Drive

when?

time?

Wednesday & Thursday
April 4 - 5, 2007 ;
9am.=1 p.m,

rl

Vee LS

oo ~ DN!

where? Wendy's Marathon Mall




ao “HOME OF CUSTOM-MADE DRAPERIES”
05H _.. WULFF ROAD - 323-6410 . :
Only 5, Why Join the Wendy's Team:

Competitive Salary
On the Job Training
Management Opportunities
Great Benefits
Flexible Hours

‘02 SUZ
‘03

‘05 SUZ

‘89 TO

‘05 T

2Q

#1A
EAST SHIRLEY

Visit our showroom at Quality A




Triple SHOCrS.csvessresensssvesosecsnesecessnverseosusssesebesacutenseis
Cotton, Moire Double Drapes...
Triple Cotton, Moire Drapes..... oe
Double Short Drapes 63” LOng..........ssssscssscsesssees
Double Macramae Verticals 2 x 49” Long.$100: 00
Wood Poles and Wall Scounce Available
10% OFF Rods up to 312”

DON’T MISS THEE SAVINGS!
Head down to Studio of Draperies on Wulff Road

Monday - Thursday 9am - 5:30pm
Saturday: 9am -3pm_ *




I= ew ewe e222 ene an









Interested persons should bring valid
identification and police record.












LIMITED
AS
° 325-3079

Queen's Highway * 352-4122




YVS8~ee eas .

Do what tastes right?



THE TRIBUNE

WEDNESDAY, APRIL 4, 2007, PAGE 5



Civil servant calls

for ‘justice’ after
repeatedly being
denied promotion

O ln brief

Chavez warns
state may
seize private
hospitals

@ VENEZUELA
Caracas

PRESIDENT Hugo
Chavez warned that his gov-
ernment could take over pri-
vate hospitals if they continue
raising prices for care, accord-
ing to Associated Press.

Chavez made the remark
during a speech Monday at
the presidential palace, saying
if private hospitals “keep
speculating, increasing prices,
they will have to be regulat-
ed”.

“Any private hospital that
doesn’t comply with the reg-
ulations that are made, if nec-
essary, will have to be nation-
alised,” Chavez said. “We
cannot allow there to be a
shameless looting using such
important services as health.”

A state takeover of certain
private hospitals, if carried
out, could significantly
expand Chavez’s nationalisa-
tion drive which already
includes concerns such as
electrical companies,
Venezuela’s largest telecom
and lucrative oil projects in
the Orinoco River basin.

Venezuela has a two-tiered
health system under which
wealthier, insured patients
often can afford prompter,
better treatment at private
hospitals. Patients at public
hospitals regularly must wait
weeks — or sometimes
months — for surgeries.

Chavez has expanded the
public health system, howev-
er, building new clinics, refur-
bishing hospitals and sending
thousands of Cuban and
Venezuelan doctors to live in
poor neighbourhoods and
provide free health care.

During his speech, Chavez
called on Cabinet ministers
to study possible price con-
trols for medical services, the
same way his government set
price controls on beef sold by
slaughterhouses.

“It may bother them, but
it’s our responsibility,”
Chavez said. “That’s called
governing.” —

Chavez regularly accuses
private hospitals of charging
patients too much and says
state health care is on track to
surpass them in quality of
care.

“We are obligated to pro-
tect all of the population,
including the middle class
and also the rich,” Chavez
said.

Previously government
officials had said there were
no particular plans for pri-
vate hospitals to be nation-
alised, although last month
Chavez ordered the expro-
priation of a hospital man-
aged by Venezuela’s Anti-
cancer Association, saying
the nonprofit organization
failed to meet its obligations
to the public.

Chavez also warned that
private schools need more
regulation, though he did not
elaborate. “The same thing
happens with education, pri-
vate sectors that according to
their whim raise costs, prices,
tuition... must be watched
over, regulated,” he said.

TROPICAL
EXTERMINATORS
MVR UU
PHONE: 322-2157

Pee ees

WEDNESDAY,
APRIL 4TH

6:30am Community Page 1540AM

8:00 Bahamas @ Sunrise

9:00 Bullwinkle & Friends

9:30 King Leonardo

10:00 The Fun Farm

11:00 Gospel Video Countdown

noon ZNS News Update

12:05 Gospel Aficionado

1:00 Legends: Vickie Knowles

2:00 Video Gospel

2:30 Turning Point

3:00 Paul Lewis

3:30 Don Stewart

4:00 Lisa Knight

4:30 Cybernet

5:00 ZNS News Update

5:05 Battle of The Brain

5:30 The Envy Life

6:00 A Special Report

6:30 News Night 13

7:00 Bahamas Tonight

8:00 Movie: Joseph Pts. 1 & 2

10:30 News Night 13

11:00 The Bahamas Tonight

11:30 Late Night Movie: Joseph
Pts. 3 & 4

11:30 Immediate Response

1:30am Community Page 1540AM

NOTE: ZNS-TV 13 reserves the
right to make last minute
programme changes!



A SENIOR civil servant is
calling for justice, claiming he
has been denied promotions
and other benefits due to him
for the last 20 years.

He says the government’s
failure to promote him has left
him up to $100,000 out of pock-
et.

Alkin Delancy, who regards
himself as a Ministry of Finance
stalwart, claims he has suffered
the indignity of seeing less expe-
rienced staff promoted over him
for reasons he can’t explain.

“T have always been a dedi-
cated and committed worker,”
he told The Tribune. “No-one
has ever found fault with my
work, yet I am still denied the
position and salary due to me.”

Mr Delancy, a finance and
accounting officer in the trea-
sury, has made repeated
attempts to get senior officials
to review his situation, so far
without success. He claims lost
salary increases have cost him
between $60,000 and $100,000
to date.

Now he has approached The
Tribune in a desperate attempt
to get what he regards as his
due reward for many years of
“sterling” service.

- “T want ists he said, “It is

not just a matter of promotion.
I have lost many other benefits
and opportunities as well.”

Under civil service rules, offi-
cials gain promotion on the
basis of certain criteria, includ-
ing academic and professional
qualifications and length of ser-
vice.

Mr Delancy claims he has ful-
filled all that was required of
him and also demonstrated
management skills required at a
higher level.

Colleagues

But he says all his entreaties
have gone unheeded. Now he
has produced a list of younger,
less experienced colleagues who
he claims have been promoted
over him to higher positions.

“I feel I should have been
promoted to a more senior posi-
tion, from finance officer grade
three to grade one, seven or
eight years ago,” said Mr Delan-
cy, a family man.

“am puzzled as to why this
has not happened. I think it’s
because I questioned why I am
not being considered. I guess
that has worked against me.”

He said junior colleagues had

been granted opportunities
denied to him while he was left
waiting for promotion that was
his by right.

Over the last few years, Mr
Delancy has written repeatedly
to various treasurers. But each
time, he claims he has had no
response.

In one letter, he pointed out
that he had been in the public
service since 1982 and had been
writing to successive treasurers
since the late 1980s about
alleged unfair treatment.

“In July, 2000, I wrote to the
Minister of Public Service, Mr
Tommy Turnquest, and was
promised that he would look
into the matter, but he was
transferred before I received a
response,” said the letter.

He then asked what he had
to do to get promoted. “What
do I have to do to get justice
and a fair assessment? Why
can’t corrections be made for
me, especially if there was an
oversight?”

Mr Delancy said he had sat in
as officer-in-charge several
times and shown senior man-
agement potential. “At present,
I feel as if I am being victimised
and discriminated against for
whatever reasons I do not





@ ALKIN Delancy claims he has been passed up for promotion

in favour of less experienced staff

know, nor have I been told,”
his letter added.

Yesterday, Mr Delancy said
he had been denied his rights
under three treasurers. “The
present treasurer has the right
to correct any wrong by former
treasurers, but she has not done

0,” he said.

He also criticised the Ministry
of Public Service, saying: “It is
responsible for seeing that
everything is done correctly
according to general orders to
make sure the public service
works properly.

“But I have never eesivea
anything in writing or verbally
about my situation. Also, the
Public Service Commission
under Bishop Samuel Greene

is supposed to see that justice is
being done, If it was doing its
job properly this would not
have happened.”

Mr Delancy said the accounts
system in general was faulty
because he was not the only vic-
tim of injustice. He cited the
case of an officer with an asso-
ciate’s degree who had been
promoted over better qualified
staff.

“T have shown proof of offi-
cers who have been favoured
over me,” he added, “I have
named the people concerned in
my letters.”

Attempts to contact the trea-
surer at the Ministry of Finance
were unsuccessful up to press
time yesterday.

Straw vendors call for evangelists to tackle crime

@ By ALEXANDRIO MORLEY
Tribune Staff Reporter

THE president of the Straw
Vendors’ Union is calling on
religious leaders to combat
crime in the Bahamas by tak-
ing the fight “to the streets”.

According to Diana Thomp-
son, in the past, evangelists
organised nationwide street
meetings where persons would
air grievances in public about
increases in crime.

‘She said that this is still the
most effective way for crime can
be combatted.

Ms Thompson’s appeal came

’ after police raised concerns that,

at the current rate, the murder
count this year may surpass the
60 homicides recorded in 2006.

The first quarter of 2007 is
coming to an end and there
have already been more than
20 murders since January.

On Sunday, while speaking cn
a local radio show, Police Com-
missioner Paul Farquharson said
there has been an almost 50 per
cent increase in the number of
murders compared to the same
period last year. However, he
said, more than 56 per cent of
these have been solved.

The new trend of burning
bodies after a murder has also

become a great concern for
police, the commissioner said.

“Most of the deaths are by
gunshots, that is an increase in
the activity we see centred
around murder. The murder
victim profile is the single,
employed Bahamian male
between the age of 16 and 25
residing generally in the black-
belt area between Village Road
and Nassau Street going south.”

Police press liaison officer
Assistant Superintendent Wal-
ter Evans pointed out that there
are other deaths, which have
not yet been classified, which
could drive the murder count
up even higher if they are offi-
cially labelled homicides.

“We can’t really say exactly at
this point how many cases [are
outstanding] because there are a
number of matters being looked
at. We are waiting for autopsy
reports and also for continued
investigations into several mat-
ters so we will be able to state
whether they will be upgraded.
We don’t want to say anything
prematurely so we will await
the results of the autopsy
report,” he said.

Meanwhile, Mr Evans said,
police are doing their best to
curb the violence.

Yesterday, Ms Thompson








EASTER IN
ELEUTHERA

The Island Link

VEHICLE PASSENGER
FERRY SCHEDULE
(AIR-CONDITIONED PASSENGER CABIN)











DEPT. NASSAU

THURSDAY APRIL 5TH

ARRIVE HATCHET BAY



6:00PM
9:45PM










DEPT. NASSAU

FRIDAY APRIL 6TH

ARRIVE HATCHET BAY





7:00AM
10:35AM














DEPT. HATCHET BAY
ARRIVE NASSAU

DEPT. HATCHET BAY
ARRIVE NASSAU

RETURN MONDAY APRIL 9TH



8:00AM
11:35AM

6:00PM
10:15PM












Passenger: One Wa
Vehicles: Cars One

ne

RATES
$40.
ay $150.
Trucks & Suv’s: One Way $175.
WITH DRIVER

__ FOR FURTHER INFORMATION

ae JED MUNROE: 242-551-2542
CONRAD SWEETING: 477-6162
THE ISLAND LINK TICKET BOOTH AT EASTERN END POTTERS CAY DOCK



Round Trip $70.
Round Trip $250.
Round Trip $300.






st
BEE




told The Tribune: “When I was
a little girl and there was one
murder, Sister Lane and others
would go on street meetings.
“Every church from Bethel’s

Colors:
Black
White
Red

Pink
Lavender
Bone

Rosetta St.

to St John’s would send their
evangelists out on street
meetings every different day
and that’s the only way that

we can educate the people so

that the violence can stop.”

The 87-year-old grandmother
said that her heart is hurt every
time she hears news about
another violent crime.

Ph: 325-3336


PAGE 6, WEDNESDAY, APRIL 4, 2007

THE TRIBUNE



KEMP’S FUNERAL HOME LIM

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

ee ag

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, Sth April,
2007 at llam.











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 and Pevia Antonas,
Roland Burrows, Kendal and Debbie
Munnings, Nina Berdanis, Jackie Sawyer,
Bridget Duncanson, Shirley Francisco,
Christina Moretti, Dejasson Orvil, Terry
Jolly and Barbara Harris.


















Arrangements by Kemp's Funeral Home
Limited, 22 Palmdale Avenue, Nassau,
The Bahamas.



LOCAL NEWS

) Three men are charged



with double murder

lm By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Three Hait-

ian-Bahamian men were
arraigned on Tuesday in the
Eight Mile Rock Magistrate
Court in connection with the
shooting deaths of two men in
the Pinder’s Point area.

Appearing before Magistrate
Debbie Ferguson were Allan
Fertile, 29, of Barkentine Drive,
Freeport; Roden Francis, 35, of
Charles Vincent Street, New
Providence; and Dennis Dele-
veaux, 31, of Gold Coin Lane,
South Bahamia.

The men were escorted in
three separate police vehicles
from Freeport, arriving at the
court around 2.30pm for their
arraignment.

Several armed police officers
were positioned strategically
outside the building, where a
small crowd had assembled to
get a glimpse of the accused
men.

The men were charged with
the murders of 30-year-old
Maxwell Nonome, and 24-year-
old Elie Jean, both residents of
Lewis Yard.

It is alleged that the Fertile,
Francis and Deleveaux, being
concerned together, intention-
ally caused of the deaths of Jean

and Nonome on-March 29 at

ee

Hi DENNIS Deleveaux, (centre) a resident of Gold Coin Lane,
South Bahamia, is seen being escorted by police to Eight Mile
_ Rock Magistrate Court on Tuesday for a his arraignment.

Pinder’s Point.

The trio was represented by
K Brian Hanna. They were not
required to enter a plea to the
murder charges. Inspector Wal-
ter Henderson is the prosecutor.



During the arraignment, two
of the accused, Francis and
Deleveaux, who spoke with an
American accent, told Magis-
trate Ferguson that they were
concerned about their safety at

Fox Hill Prison. They said they
had received death threats from
inmates.

Fearful

They said they had been told
by a group of inmates that came
in from Nassau to Central
Police Station in Freeport that
some inmates who are friends of
the victims are waiting to kill
them when they arrive.

They wanted to know what
section of the prison that they
would be remanded to, explain-
ing that threats were mainly
coming from the maximum
security wing, the H block and
the south blocks,

Magistrate Ferguson said that
she did not know where they
would be kept. She then
instructed police to ensure that
no threat or harm come to the
men when they leave Freeport.

“They are in the custody of
the state, and the books will
reflect what they have said to
me and I want to will make sure
the message goes to the (prison)
chief,” she said told officers.

Magistrate Ferguson
adjourned the matter to June
28 for a preliminary inquiry to
determine if there is sufficient
evidence against the men for
trial in the Supreme Court.

Retraction of Nautilus

bottled water recall story

THE statements published
in The Tribune on Monday,
April 2, in the article enti-
tled “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-

| 2007






Front Air Bags

Radio/CD Player



Bahamas Bus & Truck Co: Ltd.

‘Montrose Ave.

CALIBER

One look at its squad-up, broad-shouldered stance and you will know that this
one is undoubtedly different.

Air Conditioning

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
committed to producing
their internationally certi-
fied, world-class product,”



2.0 4Cyl. DOHC 16 V
Automatic Transmission
Power Windows and Locks





$28,785.00

said a statement 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.

SQ QQ QQ QQ, > ’”.-0:—l—7[. hiIQQK"°—:v—°"°"oF"°'h_l. .

Phone: 322-1722/Fax: 326-7452



.”

2

%
THE TRIBUNE

LOCAL NEWS

WEDNESDAY, APRIL 4, 2007, PAGE 7



ahamas is urged
to call for Haiti
debt cancellation

@ By RUPERT MISSICK Jr
Chief Reporter

A LOCAL human rights
organisation is calling on the
Bahamas to use its internation-
al influence to press for the
compete cancellation of Haiti’s
debt.

The Bahamas Human Rights
Network, at its most recent
meeting, called for this action
from the Bahamian government
and for the immediate cancel-
lation of Haiti’s multilateral
debt in response to a decision
by the Inter-American Devel-
opment Bank to delay debt
relief for Haiti until at Teast
2009.

The resolution claims that
nearly half of Haiti’s debt was
incurred through loans made
during the regime of Dr
Francois (Papa Doc) Duvalier
and other dictatorships that
used the money to finance “lav-

ish lifestyles and prop up repres-
Sive regimes”.

Because of this, the group
says that it is “unconscionable”
for the people of Haiti to suffer
under the weight of a debt
which did not benefit them or
their country.

“The relief would translate
into a greater amount of
Bahamian public money that
could be spent on reducing our
own national debt given that a
portion of our national expen-
diture goes into services result-
ing form Haitian migration to
the Bahamas — services that
would become increasingly
unnecessary as more Haitian
public money (available
through debt relief) would be
spent on improving the condi-
tions in Haiti that force Haitians
to abandon their home,” said
Michael Stevenson, BHRN’s
vice-president.

The resolution affirms the

efforts that are being made by
the Inter-American Develop-
ment Bank, World Bank and
International Monetary Fund
to cancel Haiti's debt.

However, it also expressed
concern that the process is mov-
ing too slowly.

“Haiti’s continued economic
distress over the next two or
more years will have dire con-
sequences for the Haitian peo-
ple as they wait for the
process... to reach completion
to become eligible for 100 per
cent cancellation.

“Meanwhile, Haiti will con-
tinue to pay $60 million per year
to service debt, money that
would be better spent tackling
Haiti's dire health and educa-
tional problems,” it read.

BHRN member Daniel
Schweissing pointed out that
Haitian migration is nota
Bahamian issue but one that
affects the whole region.



a CHILDREN joke with a UN Beastial peetecnes as Ae sate a friendly s soccer fice
between locals and Brazilian peacekeepers in the Cite Militaire neighbourhood in Port-au-Prince
last week. Human rights activists say that the siiuation in Haiti would be improved by cancelling
the country’s debt.

“If the Bahamas wishes to
stem the flow of Haitian immi-
grants to its shores, it can’t
expect to do so by limiting its
efforts to round up and deport
undocumented migrants. It
must work with the interna-
tional community to improve
the economic conditions of
Haiti so that would-be migrants
will be more inclined to remain
at home,” he said.

The resolution states that a
failure to address the problem
in Haiti will result in the con-
tinued flight of Haitian migrants
to neighbouring countries like
the Bahamas.

“I'd say that this debt relief is
very important for Haiti
because the Haitian people are
in dire need of basic infrastruc-
ture and security so that they
can begin down the road to a

(eho AP/Ariana Cubillos)

stable and sustaining economic
model,” said Tamico Gilbert, a
BHRN member who helped
draft the resolution.
“Immediate and uncondi-
tional debt relief for Haiti is
really the least that can be done
to attempt to compensate for
the many injustices inflicted
against the beautiful people of
Haiti over the course of their
history,” Mr Gilbert said.

Environmental film chosen for international festival

A BAHAMIAN environ-
mental film has been selected
for screening at an internation-
al festival, it was announced yes-
terday.

The film, Conservation
Through Education, by the
Bahamas Reef Environment
Educational Foundation
(BREEF), has been selected for
screening at the 9th annual
Earth Vision International Film
Festival.

The festival runs from April
11 to 14 in Santa Cruz, Califor-
nia and features films focused
on the environment and those

who seek to protect it.

By using films as tools to raise
environmental awareness and
uncover environmental issues,
the festival seeks to mobilise
support for conservation initia-
tives.

BREEFF’s 10-minute DVD,
directed and produced by local
filmmaker Kareem Mortimer
of Mercury Rising Media, will
be screened at 4pm on April
12)

Kareem recently received the
Audience Award at the
Bahamas International Film
Festival.

BREEFF’s entertaining and
informative short film has been
screened locally on both Cable
12 and ZNS.

Teachers

It documents the experiences
of Bahamian teachers at a
marine conservation teacher
training workshop which took
place last summer on San Sal-
vador.

The teachers experienced the

coastal environment in a hands-
on manner, looking for ways of

providing similar opportunities
for their students.

They explored coral reefs,
mangrove wetlands, sandy and
rocky shores and seagrass beds,
making links between the
importance of the coastal envi-
ronment and the role that
humans play in protecting it so
that future generations can con-
,tinue to benefit.

Viola Johnson of Mabel
Walker Primary School. wrote
“T had a lifelong learning
experience. It was my first
time putting on a snorkel
mask and viewing the great

variety of marine life. It was
breathtaking.

“I got to identify some fish,
the different types of sponges,
mangroves, birds and some
medicinal plants. I had a chance
to make some hands on materi-
als which can be used in the
classroom to stimulate the chil-
dren’s interest.

“The BREEF experience.

made me more aware of the
coastal environment and how
to help to protect it for future
generations. It was an exciting
week,” she said.

This summer, BREEF will

host another workshop from
July 15 to 22. The organisation
invited interested teachers to
contact them at 327-9000.

“This year we plan to pro-
duce a video that teachers will
be able to use to support their
instruction, for this we,will again
partner with Kareem, who has
done us proud,” said the group
in a statement.

BREFF is s non-profit foun-
dation that promotes a sustain-
able relationship between
Bahamians, visitors and the
marine environment upon
which they all depend.

Migrant smugglers head to the British Virgin
Islands as part of new Caribbean route to US

' & BRITISH VIRGIN
ISLANDS
Norman Island

Abandoned by a smuggler on
a pebbly beach, 49 hungry and
thirsty migrants hid out for days
amid a tangle of trees and
brush. Then a scouting party
returned with devastating news:
they weren’t in America,
according to Associated Press.

The illegal migrants — 47
Haitians and two Dominicans,
including two babies — were
hoping they had reached the US
Virgin Islands, where travelers
can hop on a domestic flight to
Miami without passing through
immigration checkpoints.

Instead, they were dumped
on Norman Island, one of the
British Virgins — three miles of
open water short of US soil,
with nothing to get them there
and no population to blend into.

“We gave them food and
water, and over the next four
days more of them came out of
the bush,” said Tom Warner,
who usually tends to yachters
at Pirates Bight Bar and
Restaurant, the only business
on uninhabited Norman Island.
“The 1-year-old was definitely
thirsty... | gave him a container
of water and that baby just
wouldn’t let go of it.”

Once a way-station for pirates,
the British Virgin Islands — com-
prised of the main islands of Tor-
tola, Virgin Gorda and Anegada,
as well as more than 50 smaller
islands — are increasingly attrac-
tive to Caribbean smugglers car-
rying illegal migrants to the near-
by US Virgin Islands and Puerto
Rico.

From October through Jan-
uary, 126 Cuban migrants used
the new route to reach the US
Virgin Islands — more than dou-
ble the number that landed dur-
ing the same period a year ago,
said Captain James Tunstall,
commander of US Coast Guard
for the eastern Caribbean. By
comparison, Cubans caught try-
ing to sneak past the cutter
patrolling the Mona Passage
have declined by 40 per cent.

On Saturday, authorities
detained 28 Haitian migrants,
including a baby, who were
wandering in bushes after being
dropped off on St Croix in the
US Virgin Islands by a boat that
a resident saw using a night-
vision scope.

The new route swings deep
into the eastern Caribbean and
runs northwest along the Lee-
ward Island chain before heading
to the British Virgin Islands. The
migrants, mostly from Cuba,
Haiti and the Dominican Repub-
lic, generally fly to the island of
Dominica, then hook up with
smugglers who take them on
chartered sailboats to US terri-
tory under cover of darkness,
according to Chief Inspector St
Clair Amory of the Royal Virgin
Islands Police Force.

Cubans, who often have
access to cash from relatives on
the US mainland, generally pay
US$3,000-US$3,500 for the sea
voyage, while Haitians and
Dominicans pay US$2,000-
US$2,500, he said.

Authorities are having a hard
time choking off the new route
begause the distance between the
US Virgin Islands and the British

Virgin Islands is as little as a mile
in places. A dinghy can cross in
minutes, and smuggling boats
blend in with tourist yachts.

Amory once alerted the
Coast Guard to search a boat
heading into US waters, and
they caught a group of Bolivians
who had flown to the British
Virgin Islands and were trying
to sail to Puerto Rico. Such co-
operation is critical, officials say.

The British territory has tight-
ened immigration regulations
and is building a detention cen-
tre for illegal migrants, aiming
to prevent them from using
their islands as a springboard
io America.

“It’s really hard on us because
we know what they're running
from... but we’ve got our jobs
to do,” said Constable Stepphen
Gilbert, who patrols the terri-
tory’s 59 square miles of sea and
shore in a new police boat.

YOUR CONNECTION TO THE WORLD

TENDER ~ DIRECTORS
AND OFFICERS INSURANCE

The Bahamas Telecommunications Company Ltd.
(BTC) is pleased to invite Tenders to provide the
Company with coverage for our Directors and Officers.

Interested companies/firms in Nassau may collect
a tender package from the Security’s Desk located
in the Administrative building on John F. Kennedy
Drive, between the hours of 9:00 a.m. and 5:00
p.m. Monday through Friday.

The deadline for submission of tenders is April

10th, 2007.

Tenders should be sealed and marked

“TENDER FOR DIRECTORS AND OFFICERS
INSURANCE” and should be delivered to the
attention of the President and CEO, Mr. Leon
Williams by the above date and time.

BTC reserves the right to reject any, or all Tenders.







@ OFFICERS from the Royal Virgin Islands Police have a discussion about a cargo vessel in front
of them while patrolling the waters off Virgin Gorda, in the British Virgin Islands

(Photo: AP/Brennan Linsley)

Easter Holiday ~

Store Hours
“Good Friday, April 6

ALL LOCATIONS CLOSED

HOLIDAY WEEKEND

Regular Hours: 7 a.m. to 11 p.m.

Easter Sunday, April 16
Easter Monday, April 17

Saturday, April 15

Hafepy Easter from Wendy of


PAGE 8, WEDNESDAY, APRIL 4, 2007

THE TRIBUNE







he benefits of unity as opposed

to the threat of losing sovereignty

“Leave this Europe, where
they are never done talking of
Mansyet murder men every-
where they find them, at the cor-
ner of every one of their own
streets, in all the corners of the
siube.” — Franz Fanon, the
Wretched of the Earth, 1963

A: amusing Associat-
‘ed Press photograph

caught my eye over the week-
end. It showed the French Pres-
ident, Jacques Chirac, rubbing
noses with the German Chan-
cellor, Angela Merkel, at a cel-
ebration last week marking the
50th: birthday of the European
Union.

The fact that this ceremonial
summit and public show of
affection took place in a new
Berlin — the capital of a reunit-
ed Germany at the centre of an
integrated Europe — is the
most powerful reminder yet
that the horrors of the first half
of the 20th century are behind
us. ;

THe European Community
— now known as the European
Union — had its start in the
aftermath of the most destruc-

'
t

tive war in human history; a war
that killed 60 million people —
including the murder of some
20 million Jews, gypsies, homo-
sexuals and other unfortunates
in the Holocaust.

An historic reconciliation
began when the two bitterest
enemies on the European con-
tinent — the French and Ger-
mans — agreed to jointly man-
age their strategic heavy indus-
tries in 1951. A common market



embourg.
This pact ended centuries of
warfare both on and off the



Churchill’s argument was that a
united Europe was the best way
to heal the hatreds of the Second
World War, prevent future
wars, and ensure economic

prosperity.



was set up by the Treaty of
Rome six years later, linking
the former battlegrounds of
Germany, France, Italy, Bel-
gium, the Netherlands and Lux-

' " i
Sandal Royal Bahamian Resort & Offshore Island

Invite applications for the position of;

INFORMATION SYSTEM MANAGER

Application will support users and systems
at site and function as a member of a larger
team with specialized resources they will be

responsible for

Training and Development of all users
Establishing documenting and
maintaining system a and
Security procedures

¢ Act as Project Leader on LS. Projects.
«. Maintain and update systems in.
“accordance with group anda.

me

Qualifications: Degree or Diploma i in Computer
Science or equivalent experience with Novell

Networks in support environment.

Be quick

leaner and able to act decisively within group
guidelines. Good management skills. Interested
persons should submit resume by email
to; cmajor@srb.sandals.com.

bo
vim

Pa Bus & Truck or Ral

-. Montrose Avenue
TEESE EEE: e Fax: 326-7452

IP RILSE?

322-1722



European continent. It also
ended succcessive attempts to
unite the continent by force —
the French under Napoleon, the
Germans under Hitler, and the
Russians under Stalin. It
marked the first time that Euro-
peans gave up some of their
sovereignty in the interest of
peace.

But the concept of a “United
States of Europe” had been
talked about for a long time.
According to Victor Hugo, writ-
ing in 1849, “A day will come
when all nations on our conti-
nent will form a European
brotherhood... When we shall
see... the United States of
America and the United States
of Europe face to face, reaching
out for each other across the
seas.”

he British wartime
leader Winston

Churchill made similar remarks
in 1946: “It is from Europe that

’ have sprung that series of fright-

ful nationalistic quarrels, which
we have seen in this 20th cen-











‘ show!

TOUGH CALL

LARRY SMITH:

LOCAL AND
TRAVEL
VENDORS!

Get an entry
¢ form from your
| local travel agency
\ toenterio win
_ prizes al the

tury wreck the peace and mar
the prospects of all
mankind...We must build a kind
of United States of
Europe...The first step must be
a partnership between France
and Germany.”

Churchill’s argument was that
a united Europe was the best
way to heal the hatreds of the
Second World War, prevent
future wars, and ensure eco-
nomic prosperity. In that same
year, he also famously coined
the term “iron curtain” to
describe the line separating the
West from Soviet-controlled
Eastern Europe: “The safety of
the world requires a unity in
Europe, from which no nation
should be permanently outcast.”

Over the years, the European
enterprise expanded to include
Britain, Denmark and Ireland

‘in 1973, Greece in 1981, Portu-

fist by the Soviets and their pup-
pets since 1945, was peacefully
reunited with democratic West
Germany.

As the Soviet bloc disinte-
grated, other formerly commu-
nist East bloc nations joined the
European Union, so that now
there are a total of 27 member
states. And next year, the tiny
Caribbean islands of Bonaire,
Saba and Sint Eustatius will
become special municipalities
of the Netherlands, and also be

a part of the European Union.

[rica Angela Merkel,
the current German
leader, was an East German
who became involved in the
democracy movement and was
appointed a centre-right cabi-
net minister soon after reunifi-
cation. She was elected Ger-
many’s first woman chancellor
in 2005.

The Frenchman she rubbed
noses with at last week’s summit
was Jacques Chirac. He was a
communist in the 1950s, but lat-
er came to support the Gaullist
centre-right, becoming prime
minister in 1974 and eventually
taking control of France’s right-



Some of our politicos like to say
that the Bahamas must integrate
with the Caribbean Community
by joining the single market so
that we can share the kind of
prosperity and solidarity
enjoyed by member states of
the European Union.



gal and Spain in 1986. Then,
after 30 years, the Berlin Wall
that symbolised Churchill’s Iron
Curtain was breached. And in
1990 East Germany, which had ~
been ‘controlled with a mailed



2007

REL

FRIDAY 2007

apm - som
Wyndham

Nassau Resort

a Crystal Palace Casino



wing governing coalition. Chirac
has been president of France
since 1995.

Adding to the twists and
turns of political fortune is the
current president of the Euro-

ENTRY
travel

© 2007 ADWORAS








pean Union — a former Por-
tuguese prime minister named
Jose Manuel Barroso. As a
young man he was a leader of
the Maoist underground fight-
ing the Portuguese dictatorship.
When he shifted allegiance to
the centre-right in 1980, Bar-
roso helped end wars in former
Portuguese colonies in Africa
and Asia.

“In Europe, 2007 is the year
when the past and the future
meet,” Barroso said recently.
And in her speech to the recent
birthday summit, Merkel said
the European Union was a
dream come true. But polls
show that most Europeans
don’t feel the same way, and 41
per cent think it should be
stripped of powers.

Euroscepticism is probably
strongest in Britain, where arti-
cles recently recalled the words
of a British diplomat sent to
observe a 1955 conference
preparing the Treaty of Rome.
He told delegates then that the
project was doomed. If the
treaty was agreed it would not
be ratified and, if ratified, it
would have “no chance” of
coming into force, he declared.

A« the latest sceptic
is the German Pope

Benedict who has accused the
EU of apostasy for refusing to
mention Christianity in its SOth
anniversary declaration. The
pontiff said Europe could “not
be built by ignoring its people’s
identities”, and also warned that
the continent’s declining
birthrate meant that Europe
was “losing faith in its own
future”.

Some of our politicos like to
say that the Bahamas must inte-
grate with the Caribbean Com-
munity by joining the single
market so that we can share the
kind of prosperity and solidari-
ty enjoyed by member states of
the European Union. But the
difference is like chalk and
cheese — not just between the
EU and CARICOM, but also
between the Bahamas and our
West Indian counterparts.

_ Following on the heels of the .
failed West Indian Federation

(of which we were never a part),
the Caribbean Community was
formed in 1973. But experts say
the tremendous differences
between regional states — in
terms of size and level of devel-
opment — make it hard to reach
agreement on substantive
issues.

For example, the income dif-
ference between the richest
(Bahamas) and poorest (Haiti)
CARICOM nations is as high
as 35 to 1. Before its recent
enlargement, the European
Union had an income differen-
tial of just 4 to 1. And, the
experts say, there is a distinct
lack of regional transport and
trade, with the Bahamas hav-
ing virtually no trade with any
CARICOM member.

A: the Inter-American
Development Bank

said recently, there has never
been a full cost-benefit analy-
sis of West Indian integration
to assess its net benefit to indi-
vidual economies and to the
region as a whole. In the
absence of such hard evidence,
it is difficult for proponents to
maintain the momentum of the
process.

That’s why Foreign Minister
Fred Mitchell said recently that
joining the Caribbean Single
Market and Economy is fin-
ished: “There is no argument
anymore. We have accepted the
wish of the Bahamian people
on this matter and that’s the
end of it.”

One of the strongest disin-
centives is the fear of losing
national sovereignty. And for
many countries, especially the
Bahamas, the benefits of inte-
gration are intangible and long
term while the costs are real
and immediate.

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

INSIGHT

For the stories

behind the

news, read
Insight on
Mondays

ei

ee 2 Oe SO ee

SF Pe eke Ow SO meee as

nee ew vev eee

we ee a ee ee
THE TRIBUNE

NHI Plan
could be ready
‘by the end
of the year’

FROM page one

employer associations,
unions, and private sector
groups who claim govern-
ment is “rushing” the plan
without proper consultation.

The survey conducted by
the Segal Company, on
behalf of the National Coali-
tion for Health-Care
Reform, found that some 79
per cent of Bahamian
employers surveyed offered
‘alternative solutions to
meeting the country’s
health-care needs, most
involving a combined pri-
vate-public sector.

The survey also found
that just 21 per cent of
employers believe the gov-
ernment’s proposed Nation-
al Health Insurance Scheme
is the best option for
improving health-care quali-
ty, financing and access in
the Bahamas.

Winston Rolle, the former
Chamber of Commerce
president now acting as a
coalition representative, told
The Tribune that these per-
centages were “very signifi-
cant.”

Mr Rolle said: “It shows
that the NHI plan, based on
the information we have on
hand at this time, is not giv-
ing anyone a comfort level.”

“This response shows a
genuine desire by the pri-
vate sector to address the
nation’s health-care needs
but considerable concern
about having a mandatory
NHI scheme administered
through the National Insur-
ance Board.”

But, yesterday Dr. Lalta
said that employers will be
in a better position to con-
sider the plan when all the
details are worked out.

“We told them that we are
a little bit away from provid-
ing all the details because
some of it we are still fine
tuning,” Dr Lalta said.

“There are two things
happening,” said Dr Lalta.
“We have a group that is
doing the macro-economic
analysis, DAH consulting
out of New York and their
report should be ready by
the end of the April. We
also have another group that
is working along with us to
fine tune the benefits pack-
age and payment system,
Sanigest International out of
Costa Rica and we expect to
have the benefits package by
June.”

Dr Lalta said these groups
are consultants the govern-
ment has contracted to assist
his team.

“By September or Octo-
ber we should have the
major part of our work done
and then we will leave it up
to government to decide the
implementation date,” Dr
Lalta said..



oe

—

Oo: oO.

Ane Oo =

CARA

AORN,

=

pe pees

BomAreos

.2 2 om oT

-
any

The Baha
and T

The Montreal Proto
Alr-con
A NATI

THE MINISTRY

The Represe
will be on the islands of A

George Town, Exuma
Marsh Harbour, Abaco

fc

Govenor’s Harbour, Eleut

Freeport, Grand Bahama

at the Department of E

FROM page one

nce improved by 4.1 per cent,
-nefiting from the 4.5 per cent
crease in room rates.
Grand Bahama saw an expan-
n in average room prices of
.1 per cent, the result of rev-
iue firming by 5.5 per cent.
us occurred despite a 12 per
nt contraction in hotel occu-
ncy on the island.
On the Family Islands, hotel
venues expanded by 3.2 per
nt, with a 9.9 per cent increase
room rates outpacing a 3.2 per
nt occupancy fall.
The Central Bank report said
erage consumer price inflation
as measured by the Retail
‘ice Index — advanced to 2.13
r cent for the 12-month period
ding February 2007, compared
1.88 per cent in the corre-
onding period a year earlier.
The Central Bank said the

Hotels

most significant cost increases
recorded were: other goods and
services (7.54 per cent), food and
beverages (4.36 per cent), med-
ical care and health (2.34 per
cent), housing ( 1.46 per cent),
and clothing and footwear (1.03
per cent).

In addition, preliminary data
for the fiscal year 2006-2007 indi-
cated a narrowing in Govern-
ment’s overall deficit by 2.2 per
cent to $69.4 million for the first
seven months to January 2007,
as a 14.2 per cent expansion in
revenues and grants to $749.4
million outstripped the 12.6 per
cent growth in expenditures to
$818.8 million. ©

Tax revenues firmed by 12 per
cent to $730 million, reflecting
in part gains taxes on interna-
tional trade and transactions (9



@ THE man’s body lies covered at the scene last night.
(Photo: Felipé Major/Tribune staff)

ROM page one

Murder

ung child and a wife, and perhaps he is the bread-winner within the

me,” he said.

ith the murder rate having eclipsed 20 in the first quarter of the
r, the Bahamas is on track to possibly exceed 80 homicides in 2007
number unknown in the Bahamas.

SP Evans once again called on the community to refer matters of
flict to the police, or to social organisations, such as the church for
diation, rather than resorting to violence.
he police have announced a significant re-organisation of its forces

meet the challenge of the country’s escalating crime. A new crime
ef, Senior Assistant Commissioner Elliston Greenslade, is in the
cess of taking over command from Senior Assistant Police Com-

ssioner Reginald Ferguson.

owever, as some commentators have suggested, a cultural shift
ms to have occurred in the country where violence has become a
manent fixture, regardless of the efforts of the police.

choing the pessimism many Bahamians feel regarding crime in
> country, a young Bahamian woman on hearing of yet another
rder commented: “The more they pray, the more people get killed.”

ROM page one

earchers. ;
he CSU report also notes that
» Atlantic has seen a large
rease in major hurricanes dur-
the 12-year period of 1995-
, which averaged 3.9 per year,
comparison to the prior 25-
r period of 1970-1994, which
raged 1.5 per year.
In 2005 there were a record
mber of tropical cyclones in
Atlantic — 27 named storms,
hurricanes and seven major
ricanes — including hurricane
trina which destroyed large
ts of New Orleans and Mis-
‘Ippi.
Bahamian Chief Meteorolo-
t, Arnold King, said that
ause of the location of the
hamas, residents should always
prepared for the possibility of
irect hit from a major hurri-
1e, regardless of the projec-
1S.
“The potential always exists

Hurricanes

for a major hurricane to hit the
Bahamas in any given hurricane
season. Let us not forget 1992
with hurricane Andrew. Hurri-
cane Andrew was the only major
hurricane that year. That was the
first hurricane of the season. It
doesn’t matter if you have 20 or
just 1. That one could impact the
Bahamas,” he said!

A direct hit on New Provi-
dence could result in significant
loss of life and property destruc-
tion — especially in the large Hait-
ian shanty towns spread through-
out the island:

CSU indicated that new sea-
sonal updates for the 2007
Atlantic basin hurricane season
will be released on May 31st to
coincide with the official start of
the 2007 hurricane season on
June Ist, and again on August
3rd, September 4th and October
2.

GN 484

as Environment, Science
hnology Commission



1 Act, 2006, requires all Refrigeration and
itioning technicians to possess
AL CERTIFICATION CARD.

) facilitate this process,

UTILITIES & THE ENVIRONMENT

advises that

atives Of The National Ozone Unit
ico, Eleuthera, Exuma and Grand Bahama on the

lowing dates and times:

April 11th, 2007
April 25th, 2007
April 26th, 2007
April 27th, 2007

Ta

9:00-5:00p.m.
9:00-5:00p.m.
9:00-5:00p.m.
9:00-5:00p.m.

‘ironmental Health Services Office, to register
ALL REFRIGERATION AND AIR-CONDITIONING TECHNICIANS.
Technicians are ‘equired to bring along the following:

1. Drivers license;

2. National Insurance card;

. Passport or valid voter’s card and

. Certification documents.

For more information, please -ontact the National Ozone Unit, Best Commission
in Nassau at 22-4546; 356-3067 and 322-2576.

per cent), stamp taxes (11.1) and
property taxes (43.2 per cent).

Expenditures broadened by
12.6 per cent to $818.8 million,
due primarily to the 9.4 per cent
rise in current spending to $706.9
million for consumption and the
purchase of goods and services,
while elevated outlays for asset
acquisitions and capital forma-
tion boosted capital outlays by
35.4 per cent to $76.6 million.

eece

Androsia, the Bahamian
manufacturer of batik fabrics,
clothing and home textiles, has
signed an agreement with Com-
monwealth Fabrics to act as its
distributor in Nassau.

Gomez
FROM page one

of cases simply because we do not
have the judicial personnel,” he
said.

With Justice Lyons handling 90
per cent of the commercial mat-
ters at the Supreme Court level,
the country cannot afford to lose
him, Mr Gomez said.

“If Justice Lyons decided ‘?’m
gone’ and leaves tomorrow, the
civil court would basically shut
down. The Chief Justice is going
to have to find a judge within his
ranks to deal with commercial
matters.

“So a judge who may be doing
criminal matters will be forced
now to address commercial mat-
ters. You are going to have one
less criminal judge and you are
already suffering with a deficien-
cy,” he said.

Mr Gomez pointed out that
with the retirements of judges,
which have already taken place,
those that are about to take place,
and the “the threatened expul-
sion” of Justice Lyons, the
Bahamas could soon face major
problems in its judiciary.

The lawyer said that if the lack
of manpower within the judiciary,
and especially the Supreme
Court, is not addressed, court cas-
es in future could drag on for as
long as 10 to 15 years as opposed
to the two to three years it takes
for a case to be heard now.

“We are operating a Supreme
Court with less judges and we are
reducing those numbers scem-
ingly by giving the impression that
we want one of them (Justice
Lyons) to go,” he said.

This fact is particularly wor-
rying, he said, at a time when the
country is experiencing a steadily
increasing murder rate and is
faced with more and more sus-
pects who are required to appear
before a court within a limited
amount of time.

“The police force has done a
marvelous job in the apprehen-
sion of alleged criminals, but all of
that is for naught if a person can-
not be tried,” he said.

WEDNESDAY, APRIL 4, 2007, PAGE 9

Voter

numbers
i FROM page one

If the numbers reach
: 148,000, there will be 4,000
: voters more than in 2002
: who will be able to partici-
: pate in this year’s general
: election. Registered to vote
: in 2002 were 144,758
: Bahamians.
: Sherilyn Hall, deputy
; permanent secretary at the
; parliamentary registrar’s
; department, had said in an
:; earlier statement that the
: new voters cards are
: expected to be ready some
; time next week.
: The department, he said,
: will set up distribution cen-
: tres where voters will be
: able to collect their cards.

Gag order
FROM page one :

Confirming this, Debra
Rose, the attorney for Virgie
Arthur, the mother of Anna’,
Nicole, said her client is
focused on ensuring that what
is in her granddaughter’s best
interest prevails.

With her client at her side;
Ms Rose made her way \
through the crowd of local and
international press outside the
Supreme Court yesterday
evening.

She said: “My client is cer-
tainly the grandmother of the.
baby, and she is doing every-
thing that is in the child’s best
interest.” .

Other than that, she would =
reveal very little, only reiterat-.
ing that the gag order
remained in place over the
proceedings.

MONDAY 2nd April - 7:30pm -

re ord Apr 7: ovam Mass;

Cathedral.
i clergy renew the.

Friday; 12n00n -
Last Words

EASTER DAY
Eucharist; 1

Procession & Baptism; 7:00pm Solemn

Sermon & Benediction



LUMBE

on Wilton Street is





OPE

selling



Building Materials and



Pressure Treated Lumber

just west of its old location

on Wilton Street

(right next door to DW Davis School)

Our NEW Hours will be





LUMBER

Committed To Helping You Build It Right
In The Bahamas Since 1982!


PAGE 10, WEDNESDAY, APRIL 4, 2007 THE TRIBUNE

| WEDNESDAY EVENING

APRIL 4, 2007
7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30_
Ween Lae Lun aes

= Wild Florida —_{In Performance at the White Novel Reflections on the American Dream The characters, plots and |
WPBT |"Florida’s Ani {House 20th anniversary of Thelo- {themes of seven novels deal with wealth, poverty, success and failure in |
mals’ 1 (CC) _|nious Monk Institute of Jazz. America; narrator Patricia Clarkson. (N) 1 (CC |

The Insider (N) | Jericho Gray's decision to make the/Criminal Minds The BAU team —_|CSI: NY “Silent Night” A teenager is |
1 (CC) refugees leave pushes Roger off the|must delve into Morgan's past when |shot while olecing her infant sis- |
deep end. (N) (CC) he is arrested for murder. ter. O (CC)

Access Holly- |Friday Night Lights Coach Taylor |Crossing Jordan “Faith” Woody [Medium Joe's disgruntled co-worker|
wood (N) (CC) |makes a rash decision that alters and Jordan search for a hijacked forces Joe and his officemates into |
his future at Dillon. (N) © (CC) —_|school-bus. (N) © (CC) a hostage situation.

Bones Boothe suspects an organ- |American idol |’Til Death Joy |News (CC)
ized-crime family when a partial ~~ |(Live) M (CC) and Allison go to
skeleton is found in cement. Florida. (N) |

Jeopardy! (N) George ee George Lopez pecan to __|In Case of Emer-|Lost Kate must fend for herself in
‘@ WPLG Cc} George and Ang- |(N) (1 (CC) —_|Jim “The At-Baf” |gency A trip to.a |the jungle when she discovers that
ie hire a maid. (N) (CC) spa. hj she was betrayed. (N) (CC)

CABLE CHANNELS

i |CSI: Miami “Losing Face” Horatio |The Sopranos “House Arrest” Tony is told to take bet- |(:17) The Sopra-
| A&E - {sets out on a personal mission to {ter care of his business. (CC) nos 1 (CC)

|

find his mentor’s killer. 0
| Hardtalk BBC News World Business |BBC News |Fast Track BBC News World Business
BBCI (Latenight). |Report (Latenight). |Report
BET Access Granted /Access Granted |The Parkers 1 Girlfriends Girlfriends Girlfriends © {Girlfriends 0
(N) (N) (CC) (CC) (CC) (CC) (CC)
‘CBC Just for Laughs |CBC Winnipeg Comedy Festival |CBC News: the fifth estate (CC) {CBC News: The National (CC)
| Gags (CC) “Relative Insanity” (CC) :
:00)Onthe =| Fast Mone Deal or No Deal Contestants get a /Business Nation Features, profiles, ee
CNBC chance to win money. cc} investigative reports. (N) oe
/CNN ey The Situa- |Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC) : ; '
ion Room 3 aoe ge



SOOM iota %e%e% "o's,
































(Latenight). |









am ee ee SITE (RES.










Scrubs J.D. talks|The Daily Show |The Colbert Re- Chappelle's |South Park But- |South Park (N) re Home : vos
COM about his feel |With Jon Stew- |port (CC) Show (CC) ters’ faked death. |(CC) Fay nding.
ings. (CC) art (CC) (CC) (N) (CC) nto: :
Cops ‘Coast to |Most Shocking ‘Robberies and Forensic Files |Forensic Files Dominick Dunne: Power, Privilege j
| COURT Coast 1 (CC) _|Hold-Ups 2” ii ee eee & Justice “Over the Edge” : i
The Suite Life of} x * x MULAN (1998, Musical) Voices of Ming-Na (35) Kim Possi- |Life With Derek |Phil of the Fu- :
DISN Zack & Cody —_|Wen, Lea Salonga. Animated. A Chinese maiden dis- |ble “Steal “Babe Raider’ ( |ture Phil skips a ;
Class president. |guises herself as a man. 1 ‘G’ (CC) ‘Wheels’ (CC) —_|(CC) family event. 0 ‘
| DIY This Old House |Home Again © |DIY to the Res- |Wasted Spaces |Wasted Spaces |Finders Fixers Finders Fixers '
| Mortise lockset. |(CC) cue ‘
DW Journal: In In Focus (Ger- |Journal: Tages: |MadeinGer- — |Journal: In Euromaxx ‘
| Depth man). thema many Depth '
E! The Daily 10 (N) |101 Juiciest Hollywood Hookups |101 Juiciest polyno Hookups |Paradise City | Child Star Confi- i
. Celebrity relationships. Celebrity relationships. (N) “Derailed” dential ‘
‘
ESPN NBA Basketball vee Bulls at Detroit Pistons. From the Palace of Auburn Hills in Auburn|NBA Basketball Sacramento Kings ‘
Hills, Mich. (Live) © (CC) at Denver Nuggets. (CC) '
ri

Ne NBA Basketball Chicago Bulls at Detroit Pistons. From the Palace of Aubum Hills in Auburn|SportsCenter — International Edi-
Hills, Mich. (Live) (CC) tion (Live)

Daily Mass: Our |EWTN Live Eparchy-Con- |Holy Rosary —_|Passion and Resurrection of Our

| :00) Cardio Ship Out, Shape Up “Sit-Ups At
FIT TV Sat 1 (CC) |Sea’ Water aerobics. (CC)

uff Brides: The Bridal Challenge |FitTV’s Housecalls A cancer sur-
“Nadege & Colleen” (CC) vivor. (CC) -

Fox Report- {The O'Reilly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van

Shepard Smith Susteren (Live) (CC)

6:30) College Softball Florida © |The Sports List |Best Damn Sports Show Period Destination Wild| The FSN Final
FSNFL Sao Pg (Live) peers (Live) (CC) Score (Live)
GOLF (:00) Live From the Masters (Live) Golf Chronicles eee Live From the Masters
GSN Lingo (CC) Weakest Link © (CC) Gameshow Moments Gone Ba- {Chain Reaction |Chain Reaction

nanas (1 (CC) (CC) (CC)

:00) Attack of {X-Play (N) X-Pla Cops (CC) |Cops“Jack- __|Arrested Devel- |Ninja Warrior

G4Tech |e show (\ soni’ (CC) lopment {CC}

(00) Walker, | Walker, Texas Rane Walker trails |LOVE’S ENDURING PROMISE (2004, Drama) Katherine Heigl, Dale
HALL exas Ranger escaped convicts who are robbing Midkiff, January Jones. A mysterious traveler woos a pioneer couple's

es “Golden Boy’ —_| Texas banks. 1 (CC) daughter. (CC) 2

“un Buy Me “Before /Great Home Giveaway Contestants|Property Virgins |Location, Loca- House Hunters |BuyMe “John | |
HGTV and After’ © —_Jarrive at the top-secret location. (N) |Man buys first tion, Location |Seeking achild- jand Cara Leigh”

(CC) (CC) home. (CC) |"Wicklow’ (N) friendly home. ._|(N) (CC)

; Morris Cerullo, {Breakthrough |Zola Levitt Pre- Inspiration To- _|Life Today (CC) |This Is Your Day|The Gospel
ie

Se Re Fe ee ae ee i Se ee ele Fn tan ee ee ee SS










| Reba Van's par- |My Wife and. ; Marina Resort & Beach Club Membership Included



Â¥ TWELVE NEW LUXURY VILLAS
\VAILABLE FROM $2.5 MILLION
CASAMARINARESIDENCES.COM
305.292.2244



LUXURYRESORTS
& HOTELS



ted by Truman & Co. Real

pegs





___BUSINESS _

BRIEFS

e RETIREMENT BENEFITS

FEDERAL AGENCY SAYS 32,000
PEOPLE ARE OWED PENSION MONEY

Having trouble making ends meet living on
your retirement nest egg? You might be owed

some pension money.

A total of $133 million in retirement bene-
| fits haven’t been claimed, the federal agency
| that insures private pension plans reported
Tuesday.

The Pension Benefit Guaranty Corp. said
| 32,000 people are owed money. Individual
| benefits range from $1 up to $611,028. The
average unclaimed benefit is about $4,950.
The agency urged people who may have
lost track of a pension earned during their

benefits to conduct a search using PBGC’s
online directory — www.pbgc.gov/search.
People can search by their last name, com-
pany name or state where the company was
headquartered, the PBGC said.

e INSURANCE

HEALTH INSURER STOCKS RISE ON
MEDICARE’S HIGH PAYMENT RATES

Shares of some of the largest health insur-
ers rose Tuesday after the government
announced higher-than-expected payment
| increases for companies that operate private
| Medicare plans.

The Centers for Medicare and Medicaid
Services said late Monday that preliminary
payments to companies that run Medicare

| Advantage programs will rise 3.5 percent for
2008. The payment boost, made to insurers
for each Medicare participant they cover, is
less than last year’s 3.9 percent update, but



above Wall Street estimates of a 2 percent to 3

| percent increase. The 2008 payment rate
mainly serves as a benchmark against which
; companies will offer their services, rather

| than a final payment amount.

i

i

e RECORD LABELS

EU REGULATORS LAUNCH PROBE INTO
APPLE’S ITUNES ONLINE MUSIC STORE

The deals Apple (AAPL) struck with
record labels to stock its European iTunes

were notified of an investigation into their
agreements after regulators built up a “very

Jonathan Todd.
People can only download singles or

of residence — a policy that amounts to

career and think they may be owed retirement

stores may violate EU competition rules, reg-
ulators said. Apple and the record companies

strong case,” said European Union spokesman

albums from the iTunes store in their country

__MiamiHerald.com_| THE MIAMI HERALD





‘€ aun
AFP-GETTY IMAGES

A SUCCESS: Boeing’s 787 Dreamliner jet is
becoming the firm’s most successful
aircraft.

e AIRCRAFT

BOEING WINS ORDER FOR FIVE
787 JETS FROM JAPAN AIRLINES

Boeing (BA) won an order for five of its
787 Dreamliner jets from Japan Airlines
(JALSF.PK), bringing the totalto514and =’
extending its lead over Airbus SAS.

The contract is valued at as much as
$788 million, based on Boeing’s list prices.

The deal boosts JAL’s total 787 order to 35, the’
Chicago-based company said. Boeing plans to
put the 787 in service by mid-2008. i

Boeing, the world’s second-largest com-
mercial-airplane maker, is sold out for the f
next six years with a backlog of about $70 bil- -
lion, making the Dreamliner its most success- '
ful new aircraft.

L

e REVENUE

BLOOMSBURY PUBLISHING 2006 PROFIT.
PLUMMETS, BUT OUTLOOK BETTER

Bloomsbury Publishing (BMBYF.PK),
the British publisher of the Harry Potter
books, reported a huge slump in 2006 annual
profit, but forecast improving earnings in \
2007 when the final installment of the books
about the boy wizard is due for release. 7

Bloomsbury said that net profit for the year
ended Dec. 31 plummeted to 3.7 million
pounds ($7.3 million) from 14.6 million
pounds in 2005. Revenue dropped 31 percent
to 74.8 million pounds ($147.9 million). -

Chairman Nigel Newton said “2006 wasa_
challenging year,” but that “2007 has got off to
a good start with a number of books already in.
the best-seller lists.” Newton said several con-
tracts for reference publishing rights were
currently under negotiation.

Commission said.

| @ ASIA

Washington: Japan.

i
|
i
}
|
|
1
|
i
| cut: trade barriers.

GERMANY

Possible Chrysler sale to be
hot topic at annual meeting

BY MATT MOORE
AND TOM KRISHER
Associated Press

FRANKFURT, Germany —
Only one theme is expected to
dominate DaimlerChrysler’s
annual shareholder meeting
this week: How soon can the
U.S. Chrysler unit be sold off
and when can the company go
back to being Daimler-Benz?

But despite boisterous calls
by shareholder groups that
want to see the
German-American automaker
carve off its U.S. counterpart
and become completely Ger-
man again, those looking for
the answers are likely to go
away disappointed.

Though the company has
not even confirmed it is in
talks to sell off Chrysler, for
which it paid some $36 billion
in 1998, speculation has run
rampant that a deal is in the
offing. Most analysts, how-
ever, do not believe any
announcement will come at
Wednesday’s meeting where
some 8,000 shareholders will
fill the Berlin Messe and pep-
per the board with questions
and comments.

“This is an unlikely venue
for such an announcement,”
said Stephen B. Cheetham, a
research analyst for European
autos with Sanford C. Bern-
stein in London.

“They will not normally be
tied to the timetable. It’s
highly unlikely that we will get
an announcement for this

meeting.”

"U.S. TRADE PACT WITH SOUTH KOREA
PIQUES JAPANESE INTEREST

A free trade pact between the United
States and South Korea has cranked up the
pressure on another top American ally in Asia
to move forward on a similar agreement with

The deal wrapped up in Seoul on Monday,
which still requires legislative approval,
would slash tariffs on South Korean exports to
the lucrative American market — putting
many Japanese companies at a potential dis-
advantage. While Tokyo has pursued free
trade deals with other Pacific Rim nations, the
U.S.-South Korean accord spurred fears that
Japan might fall behind in the global race to

| unlawful “territorial sales restrictions,” the

e INVENTIONS

EUROPEAN COMMISSION PUBLISHES
PLANS FOR EU-WIDE PATENT SYSTEM;

In a filing with the U.S.
Securities & Exchange Com-
mission last week outlining
the meeting, there is no
motion to consider the sale of
Chrysler, which has been on
the table since Chief Executive
Dieter Zetsche said Feb. 14
that all options were on the
table.

At least some of the compa-
ny’s more-than one million
shareholders have been push-
ing for a divorce from Chrys-
ler both in style and substance.

Ekkehard Wenger and
Leonhard Knoll have put forth
such a motion, calling for the
company to revert back to its
original name, Daimler-Benz.

They argue in the motion
that to “maintain a corporate
name that evokes associations
with the failure of the business
combination with Chrysler is
detrimental to the image of the
corporation and its products.”

But the big issue will be
what to actually do with

Chrysler.

No matter when Chrysler is

The European Commission published
plans for a single EU-wide patent system that ‘
would replace national patent rules, leading to.
large savings for those seeking legal protec-
tion for inventions across the 27-nation bloc.

Acompany or individual wishing to regis-
ter a patent in 13 EU countries would pay
13 times more than a Japanese company or
individual registering a patent in that country,
according to the commission.

Different patent litigation systems across
the EU also add to the costs and cause legal
uncertainty as patents have to be enforced
through national courts. Litigation can cost
between $66,830 and $1.33 million, making it
too costly for small and medium enterprises,
the EU executive said.

~~ ore e@ & 22s Ye COR B&B @ 8S DOD SY OH SE SE OATES

sold, if ever, Daimler is,
unlikely to make back what it »
paid. Analysts value the unit
anywhere from nothing to
$13.7 billion. :
Estimates vary with the :
value placed on assets such as >
brand names, factories and -
materials, all weighed against *
Chrysler’s estimated $19 bil- .
lion liability to pay healthcare '
benefits for unionized retirees.

Some analysts say the lia-
bility exceeds the value of the
assets, meaning that Daimler-
Chrysler would have to pay
someone to take Chrysler.

Others say the company is
worth more to the right buyer. '

So far no clear buyer has ‘
emerged, but Canadian auto-
parts supplier Magna Interna-
tional has reportedly submit-
ted a bid to buy Chrysler for
between $4.6 billion and $4.7
billion. Major Private equity
firms Blackstone Group and
Cerberus Capital Management _
are also rumored to be in the .
hunt.

ee ee

LATE TRADING.



4pm. 6:35 p.m. Late 4 oe 635 p.m. Late {
Stock Tk. cose Chg. volume | Stock Tk. dese Chg volume
KBRIncn KBR 20.69 20.69 5 163844 AmintGp lf AIG 67.64 67.64 a4 22751
AT&T Inc T 39.74 39.74 £ 80430 Citigrp c 5141 51.44 +03 19247
Nasd100Tr QQQQ 44.16 4416 * 57003 | MellonFnc MEL 4341 4341 = * 19096
KBR Inc wi KBR/WI 20.75 215° 4 ® 51886 Genflec GE 35.32 3532 =* 18632
Kraft KFT 3033.30.18 --15 51481 | Qwestem Q 406 AGS" 18300
SunMicry SUNW 579 579 * 47021 | Henin DELL 2307 2307 * 16949
SPDR SPY 143.69 143.69 ° 41730 Pfizer PFE 561 25.67 . 16119 |
Microsoft MSFT 27.87 27.87 = 37186
. BredeCm BRCD 9.56 958 +02 15456
FordM F 8.08 8.08 35891 e ‘
Altria s MO 69.65 66 ° 0111 CarolinaGp CG 77.15 7.15 5 15144
BrMySq BMY 2154 2154 . 27287 Qualcom QCOM 43.71 43.71 y 14843
NYSEGrp NYX 101.00 10028 -72 27083 | Newport NEWP 1657 16.57 14766
Hallibtns = HAL 32.76 32.87 +11 24332 SprintNex S 19.40 19.40 14087 .

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

THE TRIBUNE

WEDNESDAY, APRIL 4, 2007, PAGE 5B



Tropical in joint

f
t
'


@ By CARA BRENNEN-
' BETHEL
'. Tribune Business

‘ Reporter

, new collaboration
between two ship-
ping companies

should make it easier for goods
to be shipped between the US,
Bahamas and the Caribbean.

Tropical Shipping and Con-
way Freight have announced
the formation of Tropi-
calDirect, a new service which
will provide seamless door-to-
port shipping from the US to
ports throughout the Bahamas
and the Caribbean.

According to Gary Frantz,
a spokesman for Con- Way
Freight, TropicalDirect will
make it easier for businesses
shipping bulk goods out of the
US by reducing the amount of
handlers their customers have
to face.

He explained: “This creates
a linkage between the two
companies, where we can share
our IT, information, staff and
resources, the result being that
our customers don’t have to
worry about multi-holders;
they can make one phone call
and their packages will be
picked up and shipped, and
they only have to deal with one
person and have just one bill. It
is more convenient for them”

In a telephone interview
yesterday, Mr Frantz said the
service had been offered in test
phase and gained favourable
reviews. — :

“So far, we have gotten very
positive feedback from our
customers,” he added.

Mary Udry, spokeswoman
for Tropical Shipping in the
US, told The Tribune that the
benefit to Bahamian customers
is that they can obtain ‘their

goods without having to travel. .

i

to the US.

“They can connect the ship-
pers and have it shipped direct-
ly to the islands,” she said,
adding that Tropical Shipping
is seeking to get the word out
about the service.

According to a release issued
by the two companies, services
to more than 30 ports will be
offered.

“Starting today, US shippers
with products bound for the
Bahamas and the Caribbean
can start the export process
with a single toll-free phone
call to Tropical Shipping at
(800) 874-3848. With that call,
Tropical Shipping’s customer
service personnel can engage
the Con-way Freight network
of more than 440 service cen-
tres in the United States to
execute US ground delivery to
Tropical’s warehouse receiv-
ing locations in New Jersey
and South Florida,” it said.

“Tropical Shipping then
oversees ocean carriage of the
shipment to its final island des-
tination. Leveraging each com-
pany’s expertise, Tropi-
calDirect offers advantages
including single-carrier
accountability, shipment track-
ing, expert documentation sup-
port, all-inclusive door-to-port
pricing and single-invoice
billing for most shipments.”

“Con-way Freight and Trop-
ical Shipping have recognised
the significant need to help US
shippers in the Bahamas and
the Caribbean manage con-
flicting land and sea schedules,
and move freight more effi-
ciently and on time,” said
David S. McClimon, president
of Con-way Freight. “Tropi-
calDirect puts an end to the
frustration of dealing with mul-
tiple carriers, pricing structures

. and freight bills, delivering a

more effective service and sin-

shipping venture

gle-provider convenience.”

“We are always looking for
new ways to meet the shipping
needs of our customers, and
this collaboration provides an
excellent way to do just that,”
said Rick Murrell, president of
Tropical Shipping.

“Working with Con-way
Freight, we will continue to
provide a superior customer
experience that has been the
foundation of our service for
more than 40 years.”

The Con-way Freight/Trop-
ical Shipping collaboration
provides service to ports in the
Bahamas, Eastern Caribbean,
the British Virgin Islands, the
Turks and Caicos Islands, the
US Virgin Islands, the Cayman
Islands and the Dominican
Republic.

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. |



‘ f Ai, Lal 1
Orrice ADMINISTRATOR & CLIENT RELATIONSHIP MANAGER

Our client, a bank & trust company, is seeking applications for the following managerial’

positions:

OFFICE ADMINISTRATOR:

%

REELED LLL LLL L LLLP LLL CUO

RR OEE OE DE PCE PEPE PEPE PPE EI IE PE

MESSAGE FROM:

THE CLEARING
BANKS ASSOCIATION

The Clearing Banks of the Bahamas
advise that Easter Holidays Banking
hours will be as follows:

Thursday, April 5th
9:30am - 4:30pm

Friday, April 6th
CLOSED

Monday, April 9th
CLOSED

Regular Banking hours will resume
on Tuesday, April 10th from
9:30am - 3:00pm



RE RE RE RE RR RR RE RR RE AR A Te eA ee er Ae ee ee” A” AA Ae DRA De

eA

fF.

EEE EERE PO APIA III AAI IL ALIA ALLAN ALAA LI AI IAA IAI LIS EEE

uf

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. :

REQUIREMENTS & PERSONAL ATTRIBUTES FOR OFFICE ADMINISTRATOR:

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

CLIENT RELATIONSHIP MANAGER:
Responsible for the maintenance and control of client records, payments and
disbursements, the preparation and analysis of monthly client financials and invoices, 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.

' 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.

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 skills
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

Both positions offer attractive salary and benefits package, reflecting the
successful applicant’s experience and qualifications, including a pension plan

and medical coverage.

Qualified individuals should submit complete resumés including references before April

10", 2007 to:

Mark E. Munnings
Partner
Deloitte & Touche
P. O. Box N-7120
Nassau, Bahamas
or

Email:mmunnings@deloitte.com.bs



Deloitte.

RESORT MARINA
THE BAHAMAS ©

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

Montana Holdings Ltd owners of Rum Cay Resort
Marina, currently under development have just acquired a sister
property, on the island of Rum Cay. Sumner Point Marina extends
over 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.

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

Co-ordinate Montana client visits to Rum cay

e

e

e Supervision of staff and suppliers.

@

e Manage Montana Sales Office on Rum Cay

Skills and Attributes

e minimum 5 years prior management in a similar establishment
Excellent marine, general engineering and maintenance skills
Experienced chef or professional qualification in hotel and
catering management
Superb organisational and administrative skills
Extremely computer proficient
Highly motivated self starters who have the will and talents to
operate a challenging business in a remote location with total
autonomy

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

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

Fax 677 3007
Email: island_developmenti1@yahoo.com




} NOTICE IS HEREBY GIVEN as follows:

! (a) The above Company is in voluntary dissolution under the
provisions of Section 137 (4) of the International Business




EERE a ———

ow ED CARS OR RO AT EY

PAGE 6B, WEDNESDAY, APRIL 4, 2007





BUSINESS

THE TRIBUNE



More than 50 firms to exhibit

at hotel sector trade show

ore than 50
Bahamian compa-
nies will be exhibit-

ing at the Bahamas Hotel
Association’s (BHA) upcom-
ing fifth annual Allied Mem-
ber Trade Show and Expo,
which is expected to attract
record numbers of buyers and
sellers when it is held next
Thursday.

Among the developers,
hotels and restaurants who will
be represented by buyers will
be the British Colonial Hilton,

‘omfort Suites Paradise

sland, Graycliff Hotel and
Restaurant, Cable Beach
Resorts, Sunrise Beach Club
and Villas, Four Seasons
Resort, Grand Isle Villas,
Green Turtle Club, Anthony’s
Bar and Grille, Bakers Bay
Golf & Ocean Club, Compass
Cay in Exuma, French Leave
in Eleuthera, and the I-Group
in Mayaguana.

The exhibitors will include
Albury’s Locksmithing,
Bahamas Degradable Plastics,
Bahamas Embroidery Uni-
form Experts, Bahamas Food
Packaging, Sherwin Williams
Paints, Bahamas Waste, Black-
beard’s Cay, Brita Caribbean
Limited, Caribbean Beverage
Systems, d’Albenas Agency
Limited, CITS Group, DHL
Bahamas Limited, Forsythe’s
Communications, Global Con-
sultants, Guest Tek, HITS
Wireless, Inter-Chem, Island
Rose Teas, Island Wholesale,

Companies Act 2000.

(b) The dissolution of the said Company commenced on the
29th day of March, 2007 when its Articles of Dissolution
were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is George Clifford
Culmer of BDO Mann Judd, PO. Box N-10144, 3rd Floor,
Ansbacher House, East Street, Nassau, Bahamas.

Dated the 3rd day of April A.D., 2007.

GEORGE CLIFFORD CULMER
Liquidator

Legal Notice

NOTICE

INTERASIAN RESOURCES GROUP LIMITED

The Mailboat Company, the
Ministry of Tourism’s Authen-
tically Bahamian Program,
Passion Tea and Coffee Com-
pany, Prime Bahamas, Purity
Bakery, Scottdale Bedding,
Sun Tee Bahamas Sportswear,
Sundrop Creations, the Work
Centre, Imperial Mattress, the
Ministry of Agriculture and
Fisheries, the College of The
Bahamas Culinary & Hospi-
tality Management Institute,
and the University of West
Indies Centre for Hotel and
Tourism Management.

“This is a premier event for
our Allied members, and an
excellent forum for strength-
ening business linkages
between the hotel sector and
other areas of our economy,”
said BHA president, Russell
Miller. “Since its inception, the
expo has gotten bigger and
better each year, and is prov-
ing to be an excellent forum
to support the creation of new
businesses, expand existing
business relationships, and
bringing people together”.

The expo attracts owners
and managers of hotels and
restaurants, purchasing repre-
sentatives, chefs and other pur-
chasing decision makers. In
addition, exhibitors have pre-
arranged personal one-on-one
meetings with purchasing rep-
resentatives from leading

SEE page 12B
















TAYLOR INDUSTRIES LTD.
WILL BE CLOSED
FOR THE EASTER HOLIDAY ON

FRIDAY, APRIL 6TH
SATURDAY, APRIL 7TH
MONDAY, APRIL 9TH

(| WE REGRET ANY
INCONVENIENCE THIS WILL
| CAUSE TO OUR CUSTOMERS.



FORT CANNING LIMITED
NOTICE IS HEREBY GIVEN as follows:
(a) FORT CANNING LIMITED is in voluntary dissolution

under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

(b) The dissolution of the said company commence on the 28th
March, 2007 when the Articles of Dissolution were submitted
to and registered by the Registrar General.

(c) The Liquidator of the said company is Mark Edward Jackman
of c/o 1 Raffles Link #05-02, Singapore 039393.

Dated this 04th day of April, A.D. 2007

Mark Edward Jackman
Liquidator

Legal Notice

NOTICE




















B AMONG the developers, hotels and restaurants who will be represented by buyers will be the British Colonial Hilton (above)

A Sales Man Needed Urgently

We are a growing retail company, we are offering:

Base Salary, Bonuses, Pension Plan, Training and lots of
Fun. We are looking for: A young man between the age of
17 and 25, he must be Energetic, Out

Going, Stable, Hard Working, Well Groomed, Honest and
Reliable.

Interested then call for an interview
356-4512 or 356-4514

NOTICE

NOTICE is hereby given that LEONARDO ARITIS OF
PINEWOOD GARDENS, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 28th day of March, 2007 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas. :





NOTICE

The public is hereby notified that all entrances to and
exits from the Shirley House and the 52 Shirley Street
Car Parking properties and which are situate on the
southeast comer of the intersection of Shirley Street and
Charlotte Street on the Island of New Providence shall
be closed to the public from 7:00am on Sunday April
8th, 2007 to 7:00am on Monday April 9th, 2007 in
order to preserve the Private Properties Rights and to
prevent the Acquisition ‘by the Public of any Right of
Ways.

Nassau Enterprises Limited, Bahamian Properties
Limited.

2001 BMW 740I1L

Mint Condition Navy Blue
Tan Leather Interior Fully Loaded
Bluetooth Hands free phone system Satellite Radio
Electronic Damping Suspension Control
All Leather
Sunroof
Power Seats
Sport Steering Wheel
Sport Wheel
Rear Head Air bag Restraints
Rear Side Air bag Restraints
Engine Description: 4.4L V8
Headlights: Xenon High Intensity

$41000.00 TEL 356-0372 Days Cell



(FILE photo)

NOTICE

NOTICE is hereby given that CHRISTOPHER C. HEWITT
OF KEMP’S BAY, SOUTH ANDROS, BAHAMAS is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a_ citizen
of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be
granted, should send a written and signed statement of
the facts within twenty-eight days from the 28th day of
February, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



NOTICE

NOTICE is hereby given that BASELAIS BIEN-AIME OF ©
FAITH AVENUE, CARMICHEAL RD., NASSAU, BAHAMAS,
is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should

send a written and signed statement of the facts within
twenty-eight days from the 28th day of March, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas. ss

NOTICE

NOTICE is hereby given that CREAMO ANTONIO
CARTWRIGHT OF MATTHEW TOWN, INAGUA, 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 4th day of April, 2007
to the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ELAINE RAHMING OF
KING STREET, MURPHY TOWN, P.O. BOX AB-20774,
ABACO, BAHAMAS is applying to the Minister responsible
for Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 28th day of
March, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

INTERASIAN RESOURCES GROUP LIMITED

Notice is hereby given that the above-named Company 1s in
dissolution, commencing on the 29th day of March 2007
Articles of Dissolution have been duly registered by the Registrar. The
Liquidator is George Clifford Culmer, CO BDO Mann Judd, P.O. Box
N-10144, 3RD Floor, Ansbacher House, East Street, Nassau, Bahamas

All persons having claims against the above named Company
are required on or before the 7th day of May 2007 to send their
names and addresses and particulars of their debts or claims to the
Liquidator of the Company or, in default thereof they may be excluded
from the benefit of any distribution made before such debts are proved

Dated this 3rd day of April 2007.

GEORGE CLIFFORD CULMER
Liquidator





Manse
S
THE TRIBUNE BUSINESS

e cciiiees |

JAN UARY
Sheniqua Brennen Curry

i ia Cue

x es AS 5
SY

eS ML SOC

WEDNESDAY, APRIL 4, 2007, PAGE /B

Meet Our 2006

Brides of
the Month

One of wnese lucky
mH pn Ib a
COTM Lier LAnLeS Witt DC (TOWNE

“Kellys Bride of The Year”
Sunday April 15th, 2007

Each Monthly Bride received fabulous FREE gifts
from the following manufacturers...

* KELLY’S - $250 Gift Certificate

¢ MIKASA - “Garden Terrace” Crystal Heart Dish
¢ NORITAKE - Tea Service for 4

* BUTTONS BRIDAL & FORMAL WEAR - $50 Gift Certificate
° WEDGWOOD - “Windsor” Salt & Pepper Set |

¢ ROYAL DOULTON - “Coalport’ figurine

* WATERFORD - Crystal bottle stopper

¢ BALTA RUGS - Rug

¢ SCOTTDALE BEDDING - Two Pillows

e BEAUTY SPOT - Gift Certificate

* PRESTO INTERNATIONAL - Lemonade Maker

¢ GREEN HILL - Music CD

Bride of The Year Gifts include:

KELLY’S - $1000 Gift Certificate

BALTA-Rug ,

PORTAL PUBLICATIONS - Framed Picture
BEAUTY SPOT - Gift Certificate

NORITAKE - “Regina Platinum” China for 8
ROYAL DOULTON - “Old Country Roses” Cake Plate
WEDGWOOD - “India” Tea service for 6
WATERFORD - Crystal Water Pitcher

VILLEROY & BOCH - “Emily”: 30pc Flatware Set
MIKASA - “Stephanie Platinum” Crystal for 8
COLUMBIAN HOME - 8pc Stock Pot set

BLACK & DECKER - Food Processor
RUBBERMAID - Storage Organizer

IO RO CO

Brides-to-be,
come and visit
our booth at the
19th Annual
Bahamas
Bridal Show,
Wyndham
Nassau Resort
Sunday
April 15th, 2007

RE G I S TRY Tickets”

- available at
Kelly’s

Kelly’s "313i. scout.

St iy nt id

; . Pe Mn tere dil: MeL
Astacia Stewart Brice ? Ua Ls

dreams come true!

Monday-Friday 3 00am-8:00pm
Tel: ei) eee, Saeey 00am-9:00pm

yg
AUGUST Fax: (242) 393-4096 Sr ahaa le:
om Gancm

OCTOBER NOVEMBER DECEMBER
TTS eae Es Se AY TT OTTO CUAL UTM



ae A

i 5a ft Se ick aa Mons
PAGE 8B, WEDNESDAY, APRIL 4, 2007 | . | THE |tHIBUNE( F

“Eq: taal dda | “Leader in Personal Banking Services” CONSOLIDATED STAT

a
De | oO i tte , Deloitte & Touche | COMMONWEALTH BANK LIMITED rradd
Chartered Accountants | CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2006 ew
and Management Consultants | (Expressed in Bahamian $'000s)
2nd Terrace, Centreville
PO. Box N-7120
Nassau, Bahamas



2008. Jui)
Tel: +1 (242) 302-4800 woe ae .. eel
: print bathed sepa Cash and deposits with banks (Note 6) $ 31,380 es 18 293,
iad ee : Balances with The Central Bank of The Bahamas (Note 6) 60,915 42,125 | —
teeter tenga REPORT Investments (Note 7) 86,057 75,179
Seat eiee. Loans receivable (Notes 8, 17 and 20) 809,606 692,160 ~
Premises and equipment (Note 9) 29,669 25,473
We have audited the accompanying consolidated financial statements of Commonwealth Bank Limited (the “Bank”) Other assets 1.016 746)

which comprise the consolidated balance sheet as of December 31, 2006, and the related consolidated statements
of income, changes in equity and cash flows for the year then ended, and a summary of significant accounting
policies and other explanatory notes.



Management's responsibility for the financial statements



Management is responsible for the preparation and fair presentation of these consolidated financial statements in

accordance with International Financial Reporting Standards. This responsibility includes: designing, implementing &
and maintaining internal controls relevant to the preparation and fair presentation of consolidated financial statements LIABILITIES: Cl
that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate Deposits (Notes 10, 17 and 20) $ 798,394 $ 680, 334,
accounting policies; and making accounting estimates that are reasonable in the circumstances. .
Life assurance fund (Note 11) 13,353 10,816 |"~~
ene Sennen Other liabilities 15,435 13,383
Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We Total liabilities 827,182 704,530 + 454
conducted our audit in accordance with International Standards on Auditing. Those Standards require that we plan
and perform the audit to obtain reasonable assurance as to whether the consolidated financial statements are free of :
material misstatement. SHAREHOLDERS’ EQUITY: IS
Share capital (Note 12) 86,947 62,773— |-—
An audit involves procedures to obtain audit evidence about the amount and disclosures in the consolidated financial Share premium 26.429 21,725 74M
statements. The procedures selected depend on the auditors’ judgment, including the assessment of risks of material - ; : ‘
misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk General reserve (Note 13) ; 10,000 10,002
assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation in the Retained earnings 68,085 54,948-4-—
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. ~ Jotalshareholders’ equity 191,461 149,446i: MY
An audit also includes evaluating the appropriateness of accounting policies used and significant estimates made by , : walt
“hg }

management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit



opinion.

Pelnion The accompanying notes form an integral part of the Consolidated Financial Statements.

In our opinion, the consolidated financial statements present fairly, in all material respects the financial position of the .
Bank as of December 31, 2006, and the results of its operations and its cash flows for the year then ended in - These Consolidated Financial Statements were approved by the Board of Directors on January 29, > |"
accordance with International Financial Reporting Standards. 2007, and are signed on its behalf by:

Sloth. f foucke.

February 7, 2007 ©



A member firm of

: Deloitte Touche Tohmatsu
pbs peg ahd dl ld ell hoTes TO Cones Cian O ERANIGAL STATEMENTS YEAR ENDED DECEMBER 31, 2006 :
CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2006 (All tabular amounts are expressed in Bahamian $'000s, except per share amounts) , "e
(Expressed in Bahamian $’000s) og

1. INCORPORATION AND ACTIVITIES
Commonwealth Bank Limited (the “Bank”) was incorporated i in The Commonwealth of The Bahamas ant is licensed by The Ministry










2006 of Finance to carry out pening business under the provisions of the Banks and Trust Companies Regulations Act 2000. ay [hb
i se wd
CASH FLOWS FROM OPE r The principal activities of the Bank and its subsidiaries are described in Note 5. ai
Interest receipts $ 94,687 ' 2. ADOPTION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS ”
; In the current year, the Bank has adopted all of the new and revised Standards and Interpretations issued by the Internatiopal |
Interest payments (32, 1 94) (25,596) Accounting Standards Board (the IASB) and the International Financial Reporting Interpretations Committee (the IFRIC) of the IASB
Life assurance premiums received, net : 9,473 9,289 that are relevant to its operations and effective for accounting periods beginning on January 1, 2006. I
Life assurance claims and expenses paid (2,850) (2,621) The impact of the adoption of these new and revised Standards has been to expand the disclosure provided in these consolidated
. ‘ financial statements regarding the Bank’s pension fund. at;
Fees and other income received x 17,624 15,762 peepee an an she a nae site wo
: . ; nk has elected to present information regarding its objectives, policies and processes for managing capital (see Note 22).as
Recoveries ‘ 5,745 4,9 90 required by amendments to IAS 1 Presentation of Financial Statements in advance of the effective date for those amendments of
Cash payments to employees and suppliers (87,547) (32,859) - January 1, 2007.
54,938 48,1 96 At the date of authorization of these Consolidated Financial Statements, the following relevant Standards and Interpretations were
: . in issue but not yet effective:
Increase in loans receivable (129,202) (112,962) :
i i . IFRS 7 Financial Instruments: Disclosures is effective for accounting periods commencing January 1, 2007.
Increase in deposits 118,063 65,068
, ’ 7
Net cash from operating activities ; 43,799 302 ane Do aati of IAS 14 and application of IFRS 8 Operating Segments is effective for accounting periods commencing January
, . the
: We
: The Directors anticipate that the adoption of these Standards will have no material impact on the Bank’s Consolidated Financial
CASH FLOWS FROM INVESTING A Sane . 7 | e ain
Purchase of investments (89,573) (88,392) 8. _ SIGNIFICANT ACCOUNTING POLICIES ‘i
Interest receipts and redemption of investments 82,637 77,539 Statement of compliance - These consolidated financial statements have been prepared in accordance with International
Financial Reporting Standards. 5

Purchase of premises and equipment (Note 9) (6,568) (3,093) . a
ets ‘ bias pare Principles of consolidation - The consolidated financial statements include the accounts of the Bank and its wholly-owned
Net cash used in investing activities (1 3,504) qj 3,946) subsidiaries made up to December 31, 2006. All intra-group transactions balances, income and expenses have been 4

eliminated in full on consolidation. “

Basis of preparation - These consolidated financial statements have been prepared on the historical cost basis except for
the revaluation of certain non current assets and financial instruments. The principal accounting policies are set out below;



CASH FLOWS FROM FINAN’



Dividends paid : (27,296) (19,091)
: a. Recognition of income

Proceeds from common shares issued 5,045 3,866 i. Interest revenue is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate

Red empti on of preferen ce shares . (1 008) applicable, except for impaired loans receivable (see Note 3c). 6,
’

Issuance of preference shares 24,125 875 ii, Fee income is recognized on a cash basis. Mi

Stamp tax paid on share capital increase (300) (120) | iii. Rental income is recognized on a straight-line basis over the term of the relevant lease.

Share based payments 8 _ 133 iv. Life insurance income is recognized on the rule of 78 basis over the term of the life policy. The amount taken to income

Net cash from (used in) financing activities 1 582 (1 5 345) is adjusted by the amount of any surplus or deficit after an annual actuarial valuation. Yo

’

- Bb
b. Loans receivable - Loans receivable are carried at the principal amount outstanding, plus accrued interest receivable less
provision for loan losses.
A loan is classified as impaired whenever, in management’s opinion, there is no longer reasonable assurance of timely
collection of the full amount of principal and interest. Whenever principal and/or interest is 90 days contractually past due pn
a loan it is classified as impaired, all uncollected interest and fees are reversed from income. The amount of interest reversed
on impaired loans at December 31, 2006 was $1.0 million (2005: $1.1 million). 2

NET INCREASE (DECREASE) IN CAS i
CASH EQUIVALENTS





CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR ‘tb
EUS EOL EARS SSS ETE Payments received on loans that have been classified as impaired are applied first to outstanding interest and then to the
remaining principal. ae

CASH AND CASH EQUIVALENTS, END OF YEAR (Note 6) $ 92,295



c. Loans receivable provision and write-off policy - The Bank makes provision for bad and doubtful debts by way of a charge
to operating expense. The provision is decreased by loans written-off, net of recoveries. The provision reflects the losses
inherent in the loan portfolio at the consolidated balance sheet date. There are two types of provision, specific and general,
which are discussed below. 12

. . . . : es

The accompanying notes form an integral part of the Consolidated Financial Statements. Specific provision - Specific provisions are made against individual loans and advances where there is no longer reasonable

assurance of timely collection of the full amount of principal and interest due to a deterioration in the credit quality of the

counter party. For the Bank’s portfolio of relatively small homogenous advances such as residential mortgage, personal

lending and credit card portfolios, specific provisions are calculated using a formula driven approach. These formulae take
. into account factors such as the length of time that payments from the customer are overdue, the value of any collateral held
- and the level of past and expected losses in order to derive an appropriate provision. 3



For other lending portfolios, specific provisions are calculated on a case by case basis. In establishing an appropriate
provision, factors such as the nature and value of any collateral held, the costs associated with obtaining repayment and
realization of the collateral, and estimated future cash flows are taken into consideration. uM

General provision - General provisions are made to cover bad and doubtful debts that have not been separately identified
at the consolidated balance sheet date, but are known to be present in any loan portfolio. The level of general provision is
determined in light of the Bank's past loan loss experience, current economic conditions and other factors affecting the
business environment.


USINESS

WEDNESDAY, APRIL 4, 2007, PAGE 9B

EMENTS FOR THE YEAR ENDED DECEMBER 31, 2006 AND INDEPENDENT AUDITOR(S) REPORT

COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF INCOME YEAR ENDED DECEMBER 31, 2006

(Expressed in Bahamian $’000s)

1
'



| 2006 2005
INCOME oe -
Interest income (Notes 7 and 17) $ 104,375 $ 87,548
| Interest expense (Note 17) (32,194) (25,596)
~~ | © Net interest income 72,181 61,952
' Loan loss provision (Note 8) (11,758) (9,678)
: 60,423 52,274
Life assurance, net (Note 11) 3,534 2,462
Fees and other income (Note 15) 17,680 , 15,395
Total income 81,637 70,131
_ General and administrative (Notes 16 and 17) 38,658 35,662
' Depreciation and amortization (Note 9) 2,372 2,488
Directors’ fees 174 178
* Total non-interest expense 41,204 38,328







NET INCOME
PREFERENCE SHARE DIVIDENDS (5,099) (4,861)
NET INCOME AVAILABLE TO COMMON

SHAREHOLDERS 35,334 26,942
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
(thousands) 32,583 31,567

3
1

“EARNINGS PER SH,
| 1



The accompanying notes form an integral part of the Consolidated Financial Statements.

The Bank has decided that a general provision for losses on foans receivable should amount to a minimum of 1% of
outstanding loan balances that have not been identified as impaired.

Consumer installment and credit card loans are normally written-off if principal and/or interest payments become 180
days contractually in arrears.

Life assurance fund - All receipts from the life assurance business of Laurentide Insurance and Mortgage Company
Limited (“Laurentide”) are credited to a life assurance fund as required by The 1969 Insurance Act, under which Laurentide
is registered. The fund is reduced in respect of expenses of the life assurance business and any ee disclosed by
actuarial valuation.

‘Foreign currency translation - Assets and liabilities in other currencies have been translated into Bahamian dollars at
‘the appropriate rates of exchange prevailing as of December 31, 2006. Income and expense items have been translated
at actual rates on the date of the transaction. Gain and losses arising on foreign exchange translation are immediately
recognized i in the consolidated statement of income.

ey

Premises and equipment - These assets are carried at cost less accumulated depreciation and amortization.
Depreciation and amortization are computed on a erent basis and are charged to non-interest expenses over the
“estimated useful lives of the assets as follows:

te a

Buildings : The shorter of the\estimated useful life or
wie a maximum of 40

Leasehold improvements Lease term \

Furniture, fittings.and equipment 3 - 10 years

‘The gain or loss arising on the disposal or retirement of an item of premises and equipment is determined as the
difference between the sales proceeds and the carrying amount of the asset and is recognized in the Consolidated
Statement of Income.

Impairment of assets - At the end of each balance sheet date, the Bank reviews the carrying amount of tangible and
intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any
‘such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss
‘(if any). Recoverable amount is the higher of fair value less costs to sell and value in use. An impairment loss is
recognized as an expense immediately, unless the relevant asset ts carried at a revalued amount, in which case the
impairment loss is treated as a revaluation decrease to the extent that there is revaluation surplus.

Eamings per share - Earnings per share is computed by dividing the net income, after deducting dividends declared on
preference shares, by the weighted average number of common shares outstanding during the year. There is no material
difference between basic earnings per share and fully diluted earnings per share.

Retirement benefit costs - The Bank maintains a defined benefit plan covering all employees in the active employment
of the Bank who have at least 3 years of service or have reached the age.of 25. The plan provides pensions based on
years of service, contributions and weighted average earnings at retirement. The Bank’s funding policy is to make monthly
“contributions to the plan based on triennial valuations. The Bank pays on demand to the plan such periodic contributions
as may be required to meet the costs and expenses of the plan.

Investments held by the pension fund are primarily comprised of equity securities, preference shares, bonds and
government stock.

Pension costs for the year are the present value of the current year service cost based on estimated final salaries,
iriterest expense on the liability, expected investment return on the market value of the plan assets and the amortization
of both deferred past service costs and deferred actuarial gains and losses. Amortization is charged over the expected
average remaining service life of employees covered by the plan. Past service cost is recognized immediately to the
“extent that the benefits are already vested.

Pension costs are charged to general and administrative expenses.

“The retirement benefit obligation recognized in the consolidated balance sheet represents the present value of the defined
"benefit obligation as adjusted for unrecognized actuarial gains and losses and unrecognized past service cost, and as
reduced by the fair value of plan assets. Any asset resulting from this calculation is limited to unrecognized actuarial losses
and past service cost, plus the present value of available refunds and reductions in future contributions to the plan.

Share-based payments - The Bank issues equity-settled share-based payments to certain management staff. The Bank
determines the fair value of stock options on their grant date using the Black Scholes Model and records this amount as
“edmpensation expense. The expected life used in the model has been adjusted, based on t’s best estimate,
“for the effects of non-transferability, exercise restrictions and behavioral considerations. The fair value is recomputed over
the period that the stock options vest, with a corresponding increase to share premium. The fair value determined at the
grant date of the equity-settled share-based payments was expensed on a straight-line basis over the vesting period,
based on the Bank’s estimate of the shares that will eventuaily vest and adjusted for the effect of non market-based vesting
‘¢énditions. When the stock options are exercised the proceeds are recorded in share capital and share premium. All

outstanding options at December 31, 2005, were either exercised or lapsed during the year.

Eu

Other Stock Based Compensation Plan: The Bank offers non management staff the option of purchasing common shares
“at a 10% discount from the prevailing market rate at the time of the offer. The amount of discount is recorded as
compensation expense with a corresponding increase to share premium. Payments by staff for the shares are credited
to share capital. {
OIF a,

‘The share based payments expense has been included in staff costs in the general and administrative expenses line of
the Consolidated Statement of Income.

he

wl
4







COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY YEAR ENDED DECEMBER 31, 2006

(Expressed in Bahamian $'000s)

Preference shares (Note 12):
Balance at beginning of year $ 60,858 $
Redemption of Class “C” shares .
Issuance of Class “C”, “H”, “I” shares 24,125
Balance at end of year 84,983

60,991
(1,008)

875

60,858

Common shares (Note 12):
Balance at beginning of year 1,915 1,877
Issued 49 38
Balance at end of year 1,964 1,915

Total share capital 62,773

86,947

Balance at beginning of year
Issuance of common shares

Stamp tax on share capital increase
Share based payments (Note 14)
Balance at end of year

Balance at beginning and end of year (Note 13) 10,000

54,948
40,433

42,209
31,803

Balance at beginning of year

Net income

Common share dividends: 68 cents per share
(2005: 45 cents)

Preference share dividends

Balance at end of year

(14,203)
4,861
54,948

(22,197)
5,099
68,085

The accompanying notes form an integral part of the Consolidated Financial Statements.

Deposits - Deposits are stated at principal plus accrued interest.

Interest expense - Interest expense is accrued on a time basis, by reference to the principal outstanding and at the
effective interest rate applicable.

Investments - Investments are classified as held-to-maturity and are stated at cost plus accrued interest. Investment
income is recorded in interest income in the Consolidated Statement of Income using the effective interest rate
method.

Related parties - Related parties include officers, directors and shareholders with shareholdings in excess of 5% of
outstanding common shares, and companies that are controlled by these parties.

Equity instruments - An equity instrument is any contract that evidences a residual interest in the assets of the Bank
after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Bank’s accounting policies, which are described in Note 3, management is required to make
judgments, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from
other sources. The estimates and associated assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of the
revision and future periods if the revision affects both current and future periods.

: The following are the judgments and estimates that management has made in the process of applying the Bank’s accounting

policies and that have the most significant effect on the amounts recognized in the consolidated financial statements:

a. Provision for credit losses - The provision for credit losses represents managements’ estimate of identified credit
related losses in the portfolio, as well as losses that have not yet been identified at the consolidated balance sheet
date. The provision for credit losses is comprised of the specific provision and the general provision. The process for
determining the allowances involves quantitative and qualitative assessments using current and historical credit
information. The process requires assumptions, judgments and estimates relating to i) assessing the risk rating and
impaired status of loans; ii) estimating cash flows and realizable collateral values; iii) developing default and loss rates
based on historical data; iv) estimating the changes on this historical data by changes in policies, processes and
credit strategies; v) assessing the current credit quality based on credit quality trends and vi) determining the current
position in the economic cycle.

Fair value of financial instruments - Fair value is the amount for which an asset could be exchanged, or a liability
settled, between knowledgeable, willing parties in an arms length transaction. The best evidence of fair value is quoted
price in an active market. In most cases, however, the financial instruments are not typically exchangeable or
exchanged and therefore it is difficult to determine their fair value. In these cases, management's judgment is
required to estimate fair value. Since the calculation of fair value is based on management's estimates, which involve
uncertainties, the actual fair value realised in a sale or immediate settlement of the instruments may differ from the
estimated amount.

Pension benefits - The Bank maintains a defined benefit plan covering all employees in the active employment of
the Bank who have at least 3 years of service or have reached the age of 25. Due to the long term nature of pension
plans, the calculation of benefit expenses and obligations depends on various assumptions such as discount rates,
expected rates of return on assets, projected salary increases, retirement age, mortality, and termination rates.

Actual experience that differs from the actuarial assumptions will affect the amounts of benefit obligation and
expense.

Life assurance fund - A surplus on the Life Assurance Fund arising from an actuarial valuation is credited to income.
Due to the nature of actuarial valuations which on various assumptions such as discount rates, expected
rates of return on assets, projected mortality, and policy termination rates, actual experience may differ from the
actuarial assumptions.

BUSINESS SEGMENTS

For management purposes, the Bank including its subsidiaries is organized into two major units - Bank and Real
Estate. The principal business of the Bank is that of providing full service personal banking including the acceptance of
savings, fixed and demand deposits, providing consumer financing through loans, overdrafts and credit cards and
mortgage financing on real estate and the sale of foreign exchange. The Bank also provides credit life insurance in respect
of the Bank’s borrowers through Laurentide. For management purposes, Laurentide activities are reported as part of the
Bank and therefore are not treated as a separate business segment. The Bank also has a real estate company, C. B.
Holding Co. Ltd, that owns and manages real property. The major tenant is the Bank, however there are also several
unrelated tenants renting from the company. C.B. Securities Ltd., which was incorporated as an investment company on
September 2, 1996, had no activity in the reporting period.


PAGE 10B, WEDNESDAY, APRIL 4, 2007

Ch COMMONWEALTH | “Leader in Personal Banking Services”
Ly BANK

BUSINESS SEGMENTS (Continued)

All of the activities of the Bank and its subsidiaries are deemed to be operating within the same geographical area.
Inter-segment revenues are accounted for at competitive market prices. Inter-segment expenses are transferred at cost.
All transactions between segments are eliminated on consolidation.

The following table shows financial information by business segment:



Banking Real Estate Eiminations Consolidated
2006 2005 2006 2005 2006 2005 2006 2005
Revenue OO
External $ 81,411 $ 69,804 $ 226 $ 327 § - $ - $ 81,637 $ 70,131

ternal, = :
Total Revenue $ 81,922 $ 70,236 $ 1,357 $1,314 $ (1,642) $ (1,419) $ 81,637 $ 70,131











Net profit

Segment Net Profit$ 40,251 $ 31638 $ 182 $ 165 $ - $ - $ 40,433 $ 31,803
Other Information

Capital Additions $ 2,318 $ 2,132 $ 4,250 $ 961 § - $ - $ 6568 $ 3,093
Depreciation $ 2,221 $ 2339 $ 151 $ 149 $ - $ - $ 2,372 $ 2,488
Assets $1,017,953 $853,260 $ 12,570 $8,224 §$ (11,880) $ (7,508) $1,018,643 $ 853,976
Liabilities $ 827,804 $704,745 $ 11,458 $7,293 $ (11,880) $ (7,508) $ 827,182 $ 704,530
ene ee

CASH AND CASH EQUIVALENTS
Cash and cash equivalents is represented by cash and deposits with banks plus accrued interest and non-interest
bearing balances with The Central Bank of The Bahamas as follows:





ee = 2006 2005
Cash and deposits with banks $ 31,380 $ 18,293
Balances with The Central Bank of The Bahamas 60,915 42,125
Total $ 92,295 $ 60,418



The Bank is required to maintain a percentage of customers’ deposits as cash or deposits with the Central Bank of The
Bahamas. At December 31, 2006, this reserve requirement was $30.7 million (2005: $25.3 million).

INVESTMENTS
Investments are as follows:



1 12 months 60 months yer 60 months otal la
$ Yield % $ Yield% $ Yield% $ Yield % $ Yield’ %

Bahamas Government

Treasury Bills $ 9,954 1.839% $ - - §$ - - $ 9,954 1.839% $21,994 0.107%
Bahamas Government

Registered Stock - - 3,335 6.734% 68,269 6.123% 71,604 6.052% 49,131 6.381%
Bridge Authority - - - - 233 7.125% 233 7.125% 233 7.125%
Clifton Heritage - - - - 2,009 6.088% 2,009 6.088% 2,009 6.088%
United States

Government Stock . - - - - 990 6.990% 990 6.990% 989 6.990%
Other Equity - - - - 76 - 75 - - -
Accrued Interest
Receivable - - - - : - 1,192 - 823 -

Total § $ 9,954 1.839% $3,335 6.734% $71,576 6.138% $86,057 5.613% $75,179 4.513%



Income from investments is included in the consolidated statement of income as follows:

interest income $ 3,943 $ 3,327
LOANS RECEIVABLE
Loans receivable is as follows:
eG 2005,
Residential mortgage : $ 196,795 $ 144,860
Business : 23,405 20,097
Personal ; 567,588 506,062
Credit card . 32,288 26,249
Accrued interest receivable 8,471 8,044
, 828,547 705,312
Less provision for losses 18,941 13,152
Total : $ 809,606 $ 692,160

Provision for losses is as follows:







; 2006 ,

Balance at Provision Balance at

Beginning Loans for Credit End of
af Year WW ritten-cif _ Recoveries Losses .___Year _
Residential mortgage $ 3,463 $ (111) $ - § 283 $ 3,635
Business 582, (18) - 113 677
Personal 8,226 (10,849) 5,479 10,549 13,405
Credit card 881 1 1,224

Total provision
for credit losses _ . $ 13,152 $ (11,713) $ 5,744 $ 11,758 $ 18,941
Specific provision $ 3,316 § $ (11,713) $ 5744 $ 8668 $ 6,015
General provision 9,836 , - - 3,090 12,926
Total , $ 13,152 $ (11,713) $ 5,744 $ 11,758 $ 18,941
. 2005

Balance at / Provision Balance at

Beginning Loans for Credit End of of
Car Written off Recoveries _Losses _..__-Year__
Residential mortgage $ 41,571 $ (93) $ - $ 1985 $ 3,463
Business . 418 (53) - 217 582
Personal 10,931 (14,173) 4,843 6,625 8,226
Credit card 487 (604) 147 851 881

Total provision
for credit losses $ 13,407 14,923 4,990 9.678 13,152

Specific provision $ 8,867 $ (14,923) $ 49909 $ 4382 ¢$ 3,316
General provision 4,540 - - 5,296 9,836
Total $ 13,407 $ (14,923) $ 4,990 $ 9,678 $ 13,152



The general provision for losses on loans receivable that have not been identified as impaired is 1.58% (2005: 1.41%) of

the non-impaired loans receivable.

Impaired loans receivable is as follows:



2006
Gross Specific Net
; impaired Allowance _' Impaired
Residential mortgage $ 3,683 $ 1,037 $ 2,846
Business 1,060 448 612
Personal 6,261 3,952 2,309
Credit card 897 578 319
Total $ 12,101 $ 6,015 $ 6,086
Percentage of loan portfolio an 1.46%
Percentage of total assets , 1.19%
2005
Gross Specific Net
Impaired
Residential mortgage $ 3,877 $ 1,358 $ 2,519
Business : 389 322 67
Personal 4,771 1,536 3,235
Credit Gard. 22 = ee a ee 100 18S.
Total $ 9,300 $ 3,316 $ 5,984
Percentage of loan portfolio 1.32%
Percentage of total assets 1.09%

PREMISES AND EQUIPMENT
The movement of premises and equipment is as follows:









Cost
December 31, 2005 $ 6,004 $ 17,776 $ 3,640 $ 19,639 $ 47,059
Additions 1,096 3,096 194 2,182 6,568
December 31,2006 C7100 20,872 3,834 21,821 53,627
Accumulated

Depreciation

and Amortization
December 31, 2005 - 3,454 3,154 14,978 21,586
oe 1 ne year - 479 142 4,751 2,372
December 31, 2006 - 3,933 3,296 16, 728 | 23,958
Net Book Value
December 31, 2006 $ 7,100 $ 16,939 $ §38 $ 5,092 _$ 29,669
December 31, 2005 6,004 14,322 486 4,661 25,473



THE TRIBUNE BUSINESS

CONSOLIDATED STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2006
AND INDEPENDENT AUDITOR(S) REPORT

Depreciation and amortization expense is as follows:





Buildings $ 479 $ 479
Leasehold improvements 142 179
Furniture, fittings and equipment 1,751 1,830
Total $ 2,372 $ 2,488
10. DEPOSITS

The composition of deposits is as follows:

Demand deposits $ 60,119 $ 51,076
Savings accounts 90,869 88,978
Certificates of deposit 633,197 527,750
Accrued interest payable 14,209 12,527
Total $ 798,394 $ 680,331



11. LIFE ASSURANCE FUND
An actuarial valuation of the life assurance fund was conducted as of December 31, 2006. The calculation was based on
the greater of the total of unearned premiums and the actuarial reserve which includes provision for mortality, surrender,
expenses and adverse deviations. As a consequence, $3.534 million (2005: $2.462 million) being premiums distributable
otherwise than to policyholders, was credited to income during the year. Assets of Laurentide representing the Life
* Assurance Fund are maintained as a separate account with the Bank.

12. SHARE CAPITAL
Share capital is as follows:

Preference Shares:











Rates . Rates" , Rates
2006 2005 2006 2005 2006
Beginning of Year Rate Changes End of Year

Class A 7.0% 9.0% - (2.0)% 7.0% 7.0%
Class B» 7.0% 8.5% - (1.5)% 7.0% 7.0%
Class C 7.0% 8.0% - (1.0)% 7.0% 7.0%
Class D 7.0% 9.0% - (2.0)% 7.0% 7.0%
Class E 7.0% 9.0% - (2.0)% 7.0% 7.0%
Class F 7.0% 9.0% - (2.0)% 7.0% : 7.0%
Class G 7.0% 9.0% - (2.0)% 7.0% 7.0%
Class H 7.0% - - 7.0% 7.0% 7.0%
Class | 7.0% - - 7.0% 7.0% 7.0%
Class J - - 7.0% - 7.0% : -
Class K - - 7.0% - 7.0% -
Class L - - 7.0% - 7.0% -
Class M - - 7.0% - 7.0% -
Class N - - 7.0% - 7.0% -
B$ 000’s ; Beginning of Year Increase (Reduction) End of Year

2006 2005 2006 2005 2006 2005
Authorized Par
Class A 500 $ 15,000 $ 15,000 $ . $ - $ 15,000 $ 15,000
Class B 500 5,000 5,000 - - 5,000 5,000
Class C 100 5,000 5,000 - - 5,000 5,000
Class D 100 10,000 10,000 - - 10,000 10,000
Class E 100 10,000 10,000 - - 10,000 10,000
Class F 100 10,000 10,000 - - 10,000 10,000
Class G 100 10,000 10,000 - - 10,000 10,000
Class H 100 10,000 - - 10,000 10,000 10,000 -
Class | 100 10,000 - - ‘ 10,000 . 10,000 10,000
Class J 100 - - 10,000 - 10,000 -
Class K 100 - - 10,000 - 10,000 -
Class L 100 - - 10,000 - 10,000 -
Class M 100 - - 10,000 - 10,000 -
Class N 100 - - 10,000 - 10,000 -
Total $ 85,000 $ 65,000 $ 50,000 $ 20,000 $135,000 $ 85,000
B$ 000’s Beginning of Year issued (Redeemed) End of Year

2006 2005 2006 2005 2006 2005
Outstanding
Class A $ 15,000 $ 15,000 $ - $ - $ 15,000 $ 15,000
Class B 4,985 4,985 - - 4,985 4,985
Class C - 1,008 5,000 (1,008) 5,000 -
Class D 10,000 10,000 - - 10,000 10,000
Class E 9,999 9,999 - - -9,999 9,999
Class F 9,99 9,999 - - 9,999 9,999
Class G 10,000 10,000 - - 10,000 10,000
Class H 875 - 9,125 875 10,000 875
Class | : - - 10,000 - 10,000 -
Class J - - - - - -
Class K - - - - - -
Class L Lot - - - - -
Class M - - - - - -
Class N - - - - - -
Total $ 60,858 $ 60,991 $ 24,125 $ (133) $ 84,983 $ 60,858
ee sR

All classes of Preference Shares are cumulative, non-voting and redeemabie at the discretion of the Board. Dividend rates
are variable with Bahamian Prime rate. At December 31, 2006, Prime rate was 5.5% (2005: 5.5%).

Common Shares:

B$0.08 each
Tr 000'9 BS 00's
Authorized:
December 31, 2005 and December 31, 2006 75,000 $ 4,500



Issued and outstanding: .
December 31, 2004 31,283 1,877
633





Issuance of new shares 38
December 31, 2005 31,916 1,915
Issuance of new shares 817 49
December 31, 2006 32,733 $ 1,964
a Ser

On January 29, 2007, the Bank declared a dividend of $0.12 cents per common share payable on April 30, 2007.

13. GENERAL RESERVE
The general reserve is non-distributable and was created in 2003 to allow the Bank to address issues of an unusual or
distress situation should they occur. No such situations have occurred since the reserve was created.

14. EMPLOYEE SHARE BASED PAYMENT PLANS
Stock Option Plan:
On December 14, 1999, the Board of Directors approved an employee stock option plan for certain management staff with

a grant of two million shares on May 1, 2000. Options vested over the period from the date of grant to April 30, 2005.
Vested options not exercised at April 30, 2006 lapsed. There were no outstanding stock options at December 31, 2006.

Other share based payment plan:

Under the Bank’s employee share purchase plan, non-management staff may purchase the Bank's shares at 90% of the
closing market price on the date of grant for a restricted period each year. Employees may purchase shares having a value
not exceeding 15% of their salary at the time of the grant. Shares so purchased vest immediately but are released to the
employee on payment for the shares. Pursuant to the plan, the Bank issued 7,712 shares in 2006 (2005: 2,628).

The following table summarises information about the Stock Option Plan:













2006 2006
Weighted Weighted
Number of Average Number of Average
Stock Exercise Stock Exercise
Options Price Options Price
Outstanding at beginning of year 921,190 6.14 1,515,000 6.10
Granted - - 30,000 7.10
Expired or forfeited (117,307) 6.37 - -
Exercised (803,883) 6.11 (623,810) 6.09
Outstanding at end of year - - 921,190 6.14
Of which vested at the end of the year - - 921,190 6.14
Options available to be granted at end of year - 376,000
Outstanding Stock Options as a percentage
of outstanding shares 0.00% 2.89%

The fair value of options at December 31, 2005 were calculated using the following inputs for the Black Scholes Model:

Weighted average share price: $8.11
Weighted average exercise price: $6.14
Piped life of options 0.33
Years Risk free rate 5.75%
Expected volatility 13%

}

Expected volatility was determined by calculating the historical volatility of the Bank’s share price over the previous three
years.

The Bank recognized total expenses of $8 thousand (2005: $133 thousand) related to these equity settled share based
payrnent transactions during the year.
THE TRIBUNE BUSINESS

15.

16.

17.

18.



| “Leader in Personal Banking Services”

“q> Be wee

FEES AND OTHER INCOME
Fees and other income are as follows:





2006 2005

Fees and commissions $ 11,148 $ 10,531
Service charges 2,893 2,298
Card service revenue 4,124 911
Net foreign exchange revenue and other income 2,515 1,655
$ 17,680 $ 15,395

Total



GENERAL AND ADMINISTRATIVE EXPENSES
General and administrative expenses are as follows:































2006 = 2005
Staff costs $27,232 $25,158
Other 11,426 10,504
Total $ 38,658 $ 35,662
Staff costs include pension costs of $1.29 million (2005: $1.27 million) (see Nate 18).
RELATED PARTIES’ BALANCES AND TRANSACTIONS
Related parties’ balances and transactions are as follows:

2006 2005
Loans receivable $ 8,643 $ 10,635
Deposits $ 67,681 $ 62,611
Loans guaranteed by related parties $ 423 $ 436
Interest income $ 490 $ 462
Interest expense $ 4,421 $ 3,082
Rental expense $ 295 $ 308
General expenses $ 439 $ 447
Commitments under revolving credit lines $ 4,502 $ 4,729

Rental commitments to related parties are as follows:

2007 $ 166
2008 $ 166
2009 $ 166
2010 $ 30

Compensation of Key Management Personnel

The remuneration of Directors and other members of key management persannel, those persons having the authority
and responsibility for planning, directing and controlling the activities of the Bank, in addition to Directors Fees disclosed
on the consolidated statement of income is as follows:







2006 2005
Short term benefits $ 4,595 , $ 3,573
Post employment benefits $ 219 $ 215

BANK PENSION SCHEME
The following tables present information related to the Bank’s defined benefit pension plan, including amounts recorded

on the consolidated balance sheet and the components of net periodic benefit cost:

























2006 2005

Change in fair value of plan assets:

Fair value of plan assets at beginning of year $ 23,711 $ 19,868

Actual return on plan assets 3,443 2,682

Company contributions 1,253 978

Participant contributions 753 711

Benefits paid (273) (165)

Withdrawals from plan (742) (363)

Fair value of plan assets at end of year $ 28,145 $ 23,711

Change in benefit obligation:

Benefit obligation at beginning of year. , $ 22,544 $ 19,927
.. Employer Service Cost 1,233 1,116
,, Participant contributions Keane 753 71

_Interest cost, .,°;: avg Abed ‘1,570 1,345

Benefits paid: " (1,015) (529)

Plan amendment 7 mete

Actuarial gain on obligation 2,570 (123)

Benefit obligation at end of year $ 27,655 $ 22,544

Reconciliation of funded status:

Present value of plan assets in excess of obligations $ 490 $ 1,167

Unrecognized actuarial gain (590) (1,230)

Accrued pension liability $ (100) $ (63)

Components of pension benefit expense:

Current Employer service costs $ 1,233 $ 1,116

Interest cost ‘ 1,570 1,345

Expected return on plan assets ~ (1,573) (1,291)

Past Service Costs - Vested Benefits . = 97

Pension benefit expense included in staff costs $ 1,290 $ 1,267

19.





Movement in prepaid asset (accrued'pension liability) recognized
in the consolidated balance sheet:
Balance at beginning of year $ (63) $ 226











Expense as above (1,290) (1,267)
Contributions paid 1,253 978
Balance at end of year $ (100) $ (63)
Actual return on plan assets:

Expected return on plan assets $ 1,513 $ 1,291
Actuarial loss on plan assets 1,930 1,391
Actual return on plan assets $ 3,443 $ 2,682
Assumptions at beginning of year:

Discount rate , 6.25% 6.25%
Long term rate of return on plan assets 6.25% 6.25%
Rate of increase in future compensation 4.50% 4.50%
Assumptions at end of year: _ er eee eee
Discount rate 6.25% 6.25%
Rate of increase in future compensation 4.50% 4.50%



The Bank administers its own pension fund. The pension fund owns 487,117 (2005: 476,432) common shares and $3.58
million (2005: $3.46 million) preference shares of the Bank.

These shares have a market value of $9.7 million (2005: $7.8 million) which represents 34% (2005: 33%) of the pension
fund’s assets.

The major categories of plan assets and the expected rate of return at December 31, 2006 for each category is as follows:

Expected Return Fair Value of Plan Assets



2006 2005 2006 2005

Balances at Bank 3.75% 3.75% $ 1,583 $ 611
Equity Instruments 8.75% 7.75% 8,321 . 7,432
Government Bonds 5.63% 6.13% 9,670 8,570
Preferred Equity ‘ 7.00% 7.50% 6,283 6,163
Other Assets 0.00% 0.00% 353 162
Weighted Average on Expected Return 6.75% 6.75% $ 26,210 $ 22,938



The overall expected rate of return for 2006 is the weighted average of the expected future returns of the various
categories of plan assets as shown above, less a provision for expenses paid from the pension fund. The expected future
returns for each category are reviewed periodically and may be changed in the future years to reflect developments in
financial markets.

The Bank expects that in 2007 the amount recognized in the income statement in respect of the pension plan will be $1.2
million.

Pension funds held at the Bank and related interest expense are as follows:









2006 2005
Deposits $ 1,320 $ 591
Interest expense $ 33 $ 87
MATURITY OF ASSETS AND LIABILITIES
The maturity of assets and liabilities are as follows:
2006 =
ASSETS
On demand $ 86,245
3 months or less 89,127
Over 3 months through 6 months 5,699
Over 6 months through 12 months 16.417
Over 12 months through 24 months 39,029
Over 24 months through 5 years 250,470
Over 5 years 531,656
Total $ 1,018,643



aenane

WEDNESDAY, APRIL 4, 2007, PAGE 11B"



CONSOLIDATED STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2006
AND INDEPENDENT AUDITOR(S) REPORT



















2006 2005
LIABILITIES
On demand $ 65,585 $ 50,963
3 months or less 260,345 233,662
Over 3 months through 6 months 101,469 83,708
Over 6 months through 12 months 171,641 171,746
Over 12 months through 24 months 63,598 ’ 73,347
Over 24 months through 5 years 147,844 80,531
Over 5 years 16,700 10,573
Total $ 827,182 $ 704,530
CONCENTRATION OF LCANS RECEIVABLE AND LIABILITIES
The concentration of loans receivable and liabilities are as follows:
2006 2005
Number of Number of
_ $ 000's Accounts ___$000’s____—_— Accounts_
Loans receivable:

- Under $50,000 $ 585,819 56,451 $ 511,864 51,355
$50,001 - $100,000 79,248 1,192 69,637 1,064
$100,001 - $150,000 53,280 433 39,512 321
$150,001 - $300,000 65,665 334 43,470 221
$300,001 - $500,000 19,078 51 18,475 51
$500,001 - $1,000,900 9,121 14 5,560 9
$1,000,001 and over 7,865 5 8,750 6
Provision (18,941) - (13,152) -
Accrued interest receivable 8,471 - 8,044 7

Total $ 809,606 58,480 $ 692,160 53,027
Liabilities:
Under $50,000 $ 155,305 52,892 $ 148,147 50,286
$50,001 - $100,000 . 64,484 888 59,578 832
$100,001 - $150,000 47,251 394 40,086 326
$150,001 - $300,000 76,665 356 66,402 307
$300,001 - $500,000 57,735 145 53,185 134
$500,001 - $1,000,000 124,449 166 102,229 137
$1,000,001 and over 258,656 113 198,177 91
Accrued interest payable 14,209 - 12,527 -
Life assurance fund 13,353 - 10,816 -
Other liabilities 15,075 - 13,383 ‘-
Total $ 827,182 54,954 $ 704,530 52,113
COMMITMENTS AND CONTINGENCIES
a. In the ordinary course of business, the Bank had commitments as of December 31, 2006, as follows:
2006 2005
Mortgage commitments $ 23,505 $ 25,277
Revolving credit lines : 27,039 21,354
Standby letters of credit 1,607 637
Capital expenditures contracted / 205 179
Capital expenditure approved but not yet contracted 1,400 2,750
Total $ 53,756 $ 50,197





Revolving credit lines - are undrawn lending facilities that have been approved by the Bank to meet the
requirements of customers. They are revocable at the Bank’s discretion. The amount shown represents the
maximum amount of additional credit that the Bank could be obligated to extend. In practice many of these
commitments will remain undrawn and the amount is not indicative of future cash requirements.

Standby letters of credit - are short-term instruments used to facilitate international ‘trade typically on
behalf of an importer, subject to specific terms and conditions. They are collateralized by the underlying
shipments of goods to which they relate.

b. The Bank is obligated under non-cancelable leases on property, all of which are operating leases, expiring
no later than 2011, and on maintenance contracts for computer equipment and software expiring no later
than 2009 on which the minimum annual rentals are approximately as follows:

Minimum Rental Commitments
Computer Equipment



Leases and Software
Year BS BS
2007 328 266
2008 328 22
2009: wavs. 311 22
2010 ==> + ; sundvmessetgasd | tampatned 110 -

2014: een 53 -

Cc. The Bank has an undrawn line of credit with Bank of America, Miami for US$1 million which was established
to service customer transactions. This credit line is secured by United States Government Stock US$990
thousand disclosed in Note 7.

d. The Bank has a line of credit with Bank of Butterfield. The credit line is unsecured and is in the amount of
US$10 million. The line was fully drawn at December 31, 2006. The line was repaid in full on January 12, 2007.

The Bank has a standby letter of credit with Citibank N.A. for US$1 million, which was established to secure
settlement transactions with MasterCard. This standby credit line is secured by a time deposit of BS1
million, which is included in cash and deposits with Banks.

oO

22. RISK MANAGEMENT

a. Capital Risk Management - The Bank manages its capital to ensure that it exceeds regulatory capital
requirements and will be able to continue as a going concern while maximizing the return to shareholders
through the optimization of the debt and equity balance. The Bank's risk management structure promotes
making sound business decisions by balancing risk and reward. It promotes revenue generating activities
that are consistent with the risk appetite of the Bank, Bank policies and the imaximization of shareholder
return.

The capital structure of the Bank consists of Preference Shares and equity attributable to the common
equity holders of the Bank, comprising issued capital, general reserves, share premium and retained

earnings as disclosed in Notes 12 and 13. The Bank’s Board Executive Committee reviews the capital
structure at least annually. As part of this review, the committee considers the cost of capital and the risks
associated with each class of capital. Based on recommendations of the committee the Bank will manage
its capital structure through the payment of dividends, new share issues, common or preference and the

redemption of preference shares.
The Bank’s strategy is unchanged frorn 2005.

b. Interest rate risk - Interest rate risk or interest rate sensitivity results primarily frorn differences in the
maturities or repricing dates of assets and liabilities. Interest rate risk exposures, or “gaps” mnay produce
favcurable or unfavourable effects on interest margins depending on the nature of the gap and the direction
of interest rate movement and/or the expected volatility of those interest rates. When assets have a shorter
average maturity than liabilities, an increase in interest rates would have a positive impact on net interest
margins, and conversely, if more liabilities than assets mature or are repriced in a particular time interval then
a negative impact on net interest margin would result.

&

There is no developed derivative market in the dornestic banking sector of the econorny to assist the Bank |

in managing interest rate risk. The consolidated gap position shows more assets than liabilities repriced in
periods greater than one year. This is a typical position for a financial institulion with a large personal
customer base. The following table sets out the Bank’s interest rate risk exposure as of December 31, 2006,
and represents the Bank’s risk exposure at this point in time only:

Maturity or repricing date of interest sensitive instruments Non-interest





As of December 31, 2006 Within 3 Months 3-6months 6-12 months 1-5 Years Over 5 years rate sensitive Total
Assets

Cash equivalents $ 15,700 $ - $ 300 $ - $ - $ 76,295 $ 92,295

4.73% - 1.50% - - - 0.81%

Investments 76,796 - - - 9,186 75 86,057

5.32% - 0.00% - 8.444 5.65%

Loans receivable 46,343 226,696 5,675 254,999 275,893 £09,606

15.09% 7.91% 14.67% 14.82% 14.319 12.73%

Premises and equipment - - - - 29,669 29,669

1,016 1,016

Other assets - - 7

$ 285,072 $ 107,055 $1,018,643

TOTAL. $ 138,839 $ 226,696 $ 5,975 $ 254,999



Liabilities and shareholders’ equity

11,604 ¢ 3 798,394









Deposits $ 325,165 $ 99,561 $ 168,622 $ 193,442 $

2.41% 4.80° 5.08% 6.00% 7.03% 4.62%
Other liabilities - : - - 28,788 28,788
Preference sha 84,983 : - 84,983

7.009 : 7 - 0.007 - 7.00%
Other equity 106,478 106,478
TOTAL $ 410,148 $ 99,561 $ 168,622 $ 193,442 $ 11,604 $ 135,266 $1,018,643
INTEREST RATE SENSITIVITY GAP (271,309) 127,135 (162,647) 61,557 273.475 (23.711)

CUMULATIVE INTEREST RATE



SENSITIVITY GAP S (271,309) _$ (144,174) | $ (306,821) $ (245,264) S$ 28,211 §$ - $
COMPARATIVE 2005 $ (193,073) _$ (138,361) _$(299,839) $(213,240) S$ 32,163 S - S_ -
Average Yield - Earning Assets 8.51% 7.91% 14.01% 14.82% 14.12% 11.53%
Average Yield - Paying Liabilities 4.15% 4.80% 5.08% 6.00%
Average Margin 2006 3.11% 8.93% 8.82%

_ Average Margin 2005 4.67% 7.70% 8.73%




























el

+:

UHTRUETVUDNEAAHETA

PAGE 128, WEDNESDAY, APRIL 4, 2007

2 QMO He Ret ou RE





See:
“ anerite
— —_———. oe a te eee
ry coc CONSOLIDATED STATEMENTS FOR THE YEAR
Fs - ’ OMI ONWEALTH | ENDED DECEMBER 31, 2006 AND INDEPENDENT
/Po) BANK AUDITOR(S) REPORT
meee '
eens: cader in Personal Banking Services”
_ gla ae 7 ener Oe ee
emerge.
22 RK MANAGEMENT (Continued)
prema
“SS
ramen, Credil ris’ - The Bank's credit policies are designed to maximize the risk/return trade off. The Bank's credit
= rriicics including authorized lending limits are based on a segregation of authority and centralized
am Management approval with periodic independent review by the Bank's Internal Audit Department. Consumer
a cit is a ssessed and authorized in branches within credit policies established by the Bank. Credit scoring
meer 1 used to ensure these policies are consistently applied across the Bank. Consumer credit
reer, r e feviewad monthly to identify potential failure to perform according to the terms of the contract.
a 2 €
mt idity risk Managing liquidity and funding risk is essential to maintaining both depositor confidence and
mn» et abilily in earnings
aE. YR Ont so
ENE
eee Wk manages liquidity and funding risk by ensuring that sufficient liquid assets and funding capacity are
ay alable to meet financial commitments, even in times of stress. The Board of Directors’ Executive
= x Somnquttee oversees the Bank's liquidity and funding risk management framework which, includes operating
- within clearly defined Board limits, regulatory liquidity requirements and strong effective processes to

monitor and manage risk, including contingency plans to facilitate managing through a distress situation.
slandby lines of credit are a significant part of the contingency pian and are disclosed in Note 21.

ational risk - Operational risk is the potential for loss resulting from Inadequate or failed internal
2a or systems, human error or external events not related to credit, market or liquidity risks. The Bank
{hic rick ®y mairtaining a comprehensive system of interna! contro! and internal audit, including
rionzatyona! and procedural controls. The system of internal control includes written communication of the
ank's policies and procedures governing corporate conduct and risk management; comprehensive








siness { inning; . effective segregation of duties; delegation of authority and personal accountability;
fl 1) and training of personnel and sound and conservative accounting policies, which are
egularly up These controls and audits are designed to provide the Bank with reasonable assurance
vol osoots ere safeguarded against unauthorized use or disposition, liabilities are recognized, and the Bank

ompliance with all regulatory requirements.





23. FAIR VAL i. INSTRUMENTS
PA valuc is t or which an asset could be exchanged, or a liability settled, between knowledgeable, willing
parties ir 4 ) transaction. The best evidence of fair value is quoted price in an active market. In most cases,
however, ii instruments are not typically exchangeable or exchanged and therefere it is difficult to determine
their fair value. i th ases fair value is estimated to approximate carrying value. Premises and equipment are not
consideret bh. be financial assets. The Bank considers that the carrying amounts of financial assets and financial
liabilities 1 { at arnortised cost in the Consolidated Financial Statements approximate their fair values.
L ©2007 CreativeRolations net
7106
1)
LAN? USé&, POLICY AND ADMINISTRATION PROJECT
CONSULTING SERVICES - GIS
_ LOAN # 1589/OC-BH
The Covcinment af The Bahamas, through The Office of The Prime Minister (OPM),
as recessed o toon Srom the Inter-American Development Bank for the implementation

|
|
i




MAREN, ia the Minister responsible for Nationality
and P.O. Box N-7147, Freeport, Bahamas. P.O.Box N- 7147, Nassau, Bahamas.







“ota Land U 2 Poltey and Administration Project (LUPAP).

PM roquires one (1) GaS

QQ: fit yi
oysters (fabs)

Technician for services in the area of Geographic Information

hho 418 Fechnician will be responsible for collecting geographic data using
Globi! }ovitioning Systems, performing spatial analysis using ArcGIS, digitizing and
scanning inups, developing databases and producing maps in support of the development
of Ge ssraphic ‘al Protiles (GPs) of three Bahama Islands. The work will be performed
‘in The Bahamas (Nassau and other locations/islands in the Country).



fadiviciua! Consullants interested in providing services on the activity listed above should
' fespor! io (his Notice by sending a letter of interest and a Resume-prior to 4" April 2007
basen 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

NOTICE

»y given that ERICA JAQUEL PARKER OF
i. ORIVE, FREEPORT, GRAND BAHAMA,
BAHAMAS applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a cilizen of The Bahamas, and that any person who
knows any ieason why registration/ naturalization should
not be grainod, should send a written and signed statement
of the f un twenty-eight days from the 28TH day of







NOTICE is fers!
KWAN Yi Me



é



¢






yt



tantobe an -rassings (Pref)
) END Holdin




nee

S2wk-!-| S2wk- Lov
Â¥.335 + 2606 Y 1.333665"
3.092 F451 foaeity Bahamas G&!Fund . 3.0988***

3312 ina MSI Preferred Fund 2.625419°"
1.2538 1.1592 1.233813°*
14 304 IW. QO0! 11.39457**"*

pena res
. € s e EE. ve y Ys ee
BI ! . WOE X MARKET TERMS YIELD - last 12 month dividends divided by closing price
2Wk-Hi = Hin dio-t ale sing ce in list 52 weeks Bid $ - Buying price of Colina and Fidelity

Ask $
Last Price
Weekly Vol. - Trading volume of the prior week
EPS $ - A company’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

- Selling price of Colina and fidelity
- Last traded over-the-counter price

josing price in tast 52 weeks
frevious day's weighted price for daily volume
ent day's weighted price for dalty volume
=9 from day to day
s traded today
din the last 12 months
last 12 month eamings



Vy Croat avin chosing
tf tote




per share pa

wClosing pnce divided by the



TO TRADE Ce

phe «
Dette

SUQ9O10 Th 6 is









NOTICE

NOTICE is hereby given that ELIANA OSCAR OF
SEVENTH TERRACE CENTERVILLE,
NASSAU, BAHAMAS, is applying to ihe Minister responsible
for Nationality and Citizenship, for registration/naturalization
as acitizen 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 ihe
facts within twenty-eight days from the 4th day of April, 2007
to the Minister responsible for Nationality and Citizenship,

-0.282
1.689

0.737 260
0.265
0.199
0.170
0.915
0.078
0.995

‘ y 0.02 1,000
sham ae Bropeny. Fung 11.59 11.59 0.00
ink of Bahamas 9.00 2.00 9.00
0.70 Penchmark 0.85 0.85 0.00
1.2 Sahamas Waste 2.30 2.30 0.00
112 Fidelity Bank 1.30 1.30 0.00
9.00 rable Bahamas 10.35 10.35 0.00
16, Colina ticlumngs 2.10 2.10 0.00 569
9.99 GCaramonwealth Bank 14.12 14.19 0.00
4.22 Comsolidated Water BDRs 4.7 4.80 0.03 1,000
2.40 Doctor's Hospital 2.46 2.46 0.00
5.54 Fars guard 5.94 5.94 0.00
) OS Fines 12.45 12.49 0.04 5,000
11 50 stCeanbbeaan . 14.61 ° 14.61 0.00
10.49 Focol 17.06 17.06 0.00
0.50 Freeport Concrete 0.50 0.50 0.00
7.10 ICD utilities 7.25 7.25 0.00 500
8.52 J. S. Johnson 0.00
















& Sy NEIL HARTNELL

Tribune Business Editor

A She US courts have
/ approved involustary
4 bankruptey petitions
filed against two owners of a
former Bahamas-based finuit
cial services provider by the
president of a collapsed $214
nitthon investment fund, who
is seeking to collect aad
enforce $10.442 million in
judgensents against therm.

Bill Cuthill, the former
bankruptcy trustee for-the
Evergreen Security mutual
fund, which collapsed amid
allegations it was “Florida’s
largest Ponzi fraud”, said in a
statement that the US Bank-
ruptey Court had op prowes
the involuntary bank:
petit on that he bad
against J. Anthony Elvips S,
Jon Knight and their furin.
Atlantic Portfolio Analytics
and Management (APAM).
The two were well-known in
the Bahamas as shareholders
and owners of APAM’s
Bahamian subsidiary, Inter-
national Portfolio Analytics
(IPA).

Mr Cuthill said in a state-
mént hat the petitions had
been filed to collect the judge-
ments against Mr Huggins, Mr
Knight and APAM, with
Leigh Meininger, of Meininger
& Meininger, appointed as
interim trustee.

The developments stemmed
from a judgement rendered by
Judge Arthur Briskman, sit-
ting in the US District Court
for the Middle District of
Florida, who ordered thai Mir
Knight, Mr Huggins and
Matacka Lid, a Bahamian-
registered International Busi

WLC























P.O. BOX N-8889,

recreate

aerated cts

3

SRE IOC VA RETRAIN Ne LEE ONAL ICEL LTH



oO. 400



0.020
0.060
0.050
0 240
0.040
0.680
0.045
9.000
0.240
0.570
6 500
0.510
0.900
0.100 1
0.560 15.4 G.I9
0.795 79 795%






1125 63 7.7
0 640 NM 7. B5%
0.000 (

0.000 19.4
1.320 8.3
0.000 N/M

|
|
|
|

ness Company (LBC) that they
owned, pay damages to Ever-
preen Security.

Judge Briskman ordered the
three to pay a fine of $4.889
million, pre-judgement inter-
est of $3.052 million, plus post-
judvement interest of 4.76 per
cont from March 22, 2006.

Niv Briskman also entered

judecment of $2.5 million
av ainst APAM. Mr Huggins
and Mr Knight had appealed

eaiist his, but the initial rul-
s backed by Judge John
Auioon tt on March 30, 2007.

Meanwhile, Mr Cuthill
added that he had also filed a
separate lawsuit against the
US law
inthe US Baakruptcy Court,
-coking some $510,169 in legal
sand expenses to be paid
ni their trust funds. The
lawsuit is also seeking pre-

$i







judgement interest, treble

' Mataeka’.

damages and all costs.

Mr Cuthill alleged that the
Bahamian IBC, Mataeka Ltd,
transferred $1.54 million to
Gray Robinson on November
27, 2002, the funds to be held
in a segregated trust account
by the law firm, named ‘J.
Anthony Huggins FBO



held here until July 1, 2005,
when the money began to be
disbursed to cover Mr Hug-
gins’s legal expenses.

Some $1.096 million was
paid to Evergreen Security by
Gray Robinson last year, rep-
resenting the balance of the

trust funds transferred by the
Bahamian TBC less the legal
expenses, after Mr Cuthill
brought an action to recover
the escrowed money.

The initial judgement by
Judge Briskman had resulted
trom a lawsuit brought by Mr
Cuthill to recover funds which
he alleged had been illegally
iransferred to Mataeka and
APAM - by Mr Huggins and
Mr Knight - from ENN a
Security.

Separately, Mr Knight had ,

been sentenced to five years’
probation and a $50,000 fine
alter pleading guilty during
criminal proceedings, brought
ia Manhattan. He pled guilty
to charges that he tried to
“steal more than $1 million
from Evergreen Trust”, the
Gahamian trust that acted as
the holding vehicle for the
mutu: - fund, ee beens

on and cénirolled sith Mr
Huggins.

Similarly, in regard to the
same episode, Mr Huggins



hotels and developers to dis-

cuss Ways in which they can
do business.
“We are particularly

pleased with the incredibly
osilive response to the one-
me meclinys. We added
‘his component to the expo
yours ago with just four

is, We are pleased to see
inded and this year have

al key developers doing







ithe one-on-ones as well”

dded Mr Miller.
fhe exhibition will last from
}2pm_ to 8pm, and be held at
the W yndham Nassau Resort.
“Just as the hotel sector

generates indirect employ-

firm Gray Robinson .

The funds were ”

THE TRIBUNE



received.three years’ proba-
tion and a $50,000 fine after
pleading guilty to criminal pos-
session of stolen property, a
misdemeanour. That property
belonged to the Evergreen
‘Trust.

‘The proceedings against
both men said: “The Ever-
green Trust received invest-
inent management services
from APAM through another
entity owned by Huggins and
[Knight], called International
Portfolio Analytics (IPA), a
Bahamian corporation that
managed funds for offshore
clients.

“IPA was affiliated with
APAM through their common
ownership. Matacka executed
a $6.5 million loan agreement
from the Evergreen Trust on
December 11, 1997. The crim-
inal charges....... related to this
loan agreement.”

Mr Cuthill’s separate law-
suit against Huggins and
Knight, which resulted in the
more than $10 million award
against them, had alleged: “On
or about 11 December, 1997,
Evergreen transferred approx-
imately $6.5 million to or for
the benefit of Mataeka.......

“Atleast $2.5 million of the

$6.5 million were transferred
to or for the benefit of Knight

. and Huggins. Knight and Hug-

gins then made a loan to
APAM in the amount of $2.5
million. At the time, Huggins
was a director and president
of APAM, and Knight was a
director and vice-president of
APAM.”

The suit alleged that $5.1
million of the $6.5 million
Mataeka received from Ever-
green Security was transferred
to Surety Bank & Trust, a
Bahamian bank since liqui-
dated.

The lawsuit alleges that on
or about December 18, 1997,
some $3.6 million of the
“Mataeka Transfer” was
transferred to Surety Bank &
Trust. Another $1.5 million
was then allegedly deposited
on or about December 24,
1997,

The lawsuit alleged:
“Through a series of transac-
tions, the funds deposited in
Surety Bank were denoted as
follows: 1) a deposit account in
the name of Castro in the
amount of $1.5 million; 2) a
deposit account in the name
of Boyd in the amount of $1.8
million; and 3) a deposit
account in the name of
Thomas S. Spencer in the
amount of $1.8 million.”

























ment as money is circulated
throughout the economy, they
are creators of other entre-
preneurs. This cannot be
understated,” Mr Miller said.

“All too often people point
to the concessions which are
granted hotels, but these are
not concessions — these invest-
ments would not occur if
inducements did not exist.
The Bahamas is a very high
cost of business nation, and
without inducements, the
large financial investments
required to build and operate
hotels would not be possible.
Hotel investments clearly
spurn other smaller Bahamian
investments, creating not only
jobs but small and mid-sized
businesses.”




















THE TRIBUNE

WEDNESDAY, APRIL 4, 2007, PAGE 13B



ae ee ees ONS eee ee
Bahama HandPrints

celebrating 40 years
with the launch of
online store

BAHAMAHAND PRINTS
is celebrating its 40th anniver-
sary through launching an
online store and offering a lim-
ited rerun of its classic signa-
ture print, ‘Sea Treasures’.

In a press release issued yes-
terday, the company said that
through the website it hoped to
“spread a little bit of
Caribbean sunshine around the
world”.

Bahama Hand Prints is
known for its bold and colour-
ful prints depicting varying
aspects of Bahamian fruits, sea
creatures, flowers and trees,
ocean life and native flora and

fauna.

“The company has taken
steps to reach a wider audi-
ence by creating a fun line of
decorative home accessories
that bring the island style to
the most ordinary of homes:
table place mats, napkins
aprons, pillow shams and pot
holders and are available in
their complete assortment of
colors and designs,” the com-
pany said in a statement.

“More recently, the compa-
ny partnered with New York
based ‘Decorative Things’ to
add a range of lively laminated
trays, bowls and salad servers

*

to this list.”

According io co-partner Joie
Lamare, more and more
designers are deciding to incor-
porate these materials into
their tropical home decor.

“We like to offer our clients
a sophisticated interpretation
of the Caribbean that will fit
into their setting,” the state-
ment said.

Bahama Hand prints have
also released their new collec-
tion for summer 2007, with

three new fresh prints
Seashells, Seashells- featuring
conch shells; Fronds Medley -
featuring palm fronds; and
Fronds Lines - an abstract
interpretation of Fronds Med-
ley.

Two new colours are being
offered aqua and chocolate
expresso. The vintage ‘Sea
Treasures’ circa 1970, featur-
ing coral floating through sea
feathers and whips, is to be re -
released for the anniversary.



Legal Notice

NOTICE

TONNEAU STREAMS LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company

is in dissolution, which commenced on the 26th day of

February 2007. The Liquidator is Argosa Corp. Inc., P.O.
| Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

BLITZ CYRO LID.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 22nd day of
February 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE .-

OPAH LIMITED

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of OPAH LIMITED has been
completed; a Certificate of Dissolution has been issued
and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)



PUBLIC NOTICE

Palmdale Shopping parking and access roads

WILL BE CLOSED

to the public from 6:30am,
Seal SH UUCOMeS LOU ATO eID

Legal Notice

NOTICE

COLVILLE LIMITED

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of COLVILLE LIMITED has
been completed; a Certificate of Dissolution has been
issued and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

POUPON VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 8th day of
March 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

LUMBERYARD RALLY INC.

(In Voluntary Liquidation)

Notice 1s hereby given that the above-named Company
is in dissolution, which commenced on the 22nd day of
February 2007. The Liquidator 1s Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

BOCs n
The Tribune -

the #1 newspaper
MR CC UC
call 322-1986 |
me Cir VE

Legal Notice

NOTICE

SALGADOS VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 14th day of
March 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)



Legal Notice

NOTICE

ALMA VALLEY INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 30th day of
January 2007. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

HIGH SLOPES INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 26th day of
January 2007. The Liquidator is Argosa Corp. Inc., P.O.

| Box N-7757 Nassau, Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

KEAN COURT LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of KEAN COURT LTD. has been
completed; a Certificate of Dissolution has been issued
and the Company has therefore been struck off the
Register.

ARGOSA CORP. INC.
(Liquidator)


PAGE 14B, WEDNESDAY, APRIL 4, 2007

THE TRIBUNE



Over 300 Baha Mar staff | Colina parent asks for release from
51% share divestment condition

apply for voluntary
separation plan

FROM page 1B

that we’ve confirmed all of them.”

The number of applications is close to one
out of évery eight staff employed currently at
Baha Mar’s Cable Beach Resorts, the work-
force totalling some 2,500 persons.

Mr Sands said staff opted to join the scheme
for a variety of reasons, applications being
received “across the board” from numerous
departments and ranks.

He said that between 20-25 per cent of appli-
cants had applied for the Early Retirement and
Voluntary Separation Package because they
were aged between 60-65, and wanted to take
early retirement.

Others were looking at new opportunities,
both in terms of employment, starting their own
businesses and becoming entrepreneurs, and
going back to school or college.

“A number of people went into some entre-
preneurial opportunities; I think that represents
5 per cent of the applicants,” Mr Sands said.

A further 10 per cent of applications were
submitted because those staff wanted to go back
to school, Mr Sands said. “It was another very
strong reason why people applied for the plan,”
he added.

“We-were encouraged by the response. It met
our expectations in terms of the number of
applicants. I think it was very well received and
very well understood by all. It happened at a
time when opportunities for jobs and a lot of
alternatives exist in the market, and at a time
when persons are prepared to retire early or
go into other entrepreneurial opportunities.”

Mr Sands said: “We have not heard to any
material degree, any discord with regard to this
particular plan. It was a novel approach and

gave persons the opportunity to make their own
decisions as regards their financial future.

“It certainly takes out of the approach this
mandatory of forced position of separation, and
I think it is certainly a novel way of dealing
with these types of issues within organisations.

“For us, it takes out the volatility. When in a
forced, mandatory situation where persons do
not take their own decisions for their future,
it’s a totally different ball game. We are very sat-
isfied that our approach to this was the right
one.”

Baha Mar embraked on the Early Retire-
ment and Voluntary Separation Package as a
result of both employee interest and the
inevitable reduction in room inventory and
tourist numbers that would result when its pro-
posed $2.4 billion Cable Beach redevelopment
plan begins.

Relatively few such schemes have been
offered by companies in the Bahamas, but Baha
Mar took this approach to bring employee num-
bers into line with current and projected labour
needs.

On the question of approving applications,
Mr Sands said Baha Mar did not want to “cut off
our nose to spite our face” by letting go staff
members with key skills that its resort operations
would need, given the demand and labour short-
ages facing this nation.

He explained that Baha Mar did not want to
“lose quality skills that may be in short supply in
the market. There are tremendous demands for
skills, especially in food and beverage and culi-
nary departments in this country.”

The company is still locked in talks with the
Government over a supplemental Heads of
Agreement, seeking to ensure that its 43 per
cent joint venture equity partner, Harrah's
Entertainment, does not walk away from the
project by exercising a ‘walk away’ clause in its
contract after the March 15 deadline for closing
was missed.

FROM page 1B

industry’s, with the company’s
competitors alleging that it
would give it too much domi-
nance in the Bahamian life
insurance market and allow it
to control too large a share of
long-term investment assets.
Many have thought some of
the conditions imposed on the
Colina group, including Colina
Holdings (Bahamas) and Col-
inalmperial Insurance Com-
pany, too onerous, especially

stipulations such as the A. F.:

Holdings share divestment,
given that a number of BISX-
listed equities are owned by
one controlling shareholder
with largest stakes than that.

Mr Braithwaite said yester-
day that the 21 conditions issue
was “just about behind us”,
adding that he believed the
regulators and government
would be “reasonably happy
today that all issues have been
addressed”.

He said: “I wouldn’t describe
it as a significant distraction,
as it does not affect our
results.”

Mr Braithwaite said Coli-
nalmperial Insurance Compa-
ny was likely to need another
18 months to complete the
integration of the various poli-
cies and information technolo-
gy platforms inherited from the
four companies it had been
formed from - Colina, Cana-
da Life, Global Bahamas and
Imperial Life.

Once that process had been
completed, likely to be around
December 2008, Mr Braith-

waite said Colinalmperial
Insurance Company would
begin to look outwards, rais-
ing its horizons beyond the
Bahamas and seeking to com-
pete with regional giants such
as Sagicor (a 20 per cent share-
holder in its Bahamian rival,
Family Guardian), CLICO,
Guardian Life and Life of Bar-
bados.

He explained that a prime
goal was to “make ourselves
competitive with other insurers
in the region”, a major reason
why Colina Insurance Compa-
ny had started out on its acqui-
sition spree in a bid to obtain
the critical mass and
economies of scale needed to
compete with Caribbean rivals
that evolved beyond insurance
companies into major financial
services conglomerates.

“To my way of thinking,
we’ve not got to where we
need to be,” Mr Braithwaite
said. “The game is CLICO,
Guardian Life and Sagicor”,
with Colinalmperial needing
to establish a presence in mar-
kets such as Barbados and
Trinidad & Tobago.

ColinaImperial is already
moving internationally, Mr
Braithwaite saying yesterday
that efforts to open a branch in
the Turks & Caicos Islands
through either a partnership
or managing agent structure
with local involvement were
“pretty advanced”.

“Everything is in and we’re
just waiting for an approval
now, which we’ve been told

should be forthcoming short-:

ly,” Mr Braithwaite said.

He added, though, that it
would “take a couple of years”
for Colinalmperial to complete
its internal integration issues,

the company needing “this
year and next to really get our
act together”.

Yet Mr Braithwaite said
Colinalmperial would soon
look at resuming regular divi-
dend payments, and establish-
ing policies on this, a move
likely to warm the hearts of its
shareholders and _ other
Bahamian investors.

“T would certainly expect the
2006 results to be a little bit
better than 2005,” Mr Braith-
waite said. “For the first time,
we'll have organic growth. We
should see some progress.”

Shareholders will also be
able to compare for the first
time Colinalmperial’s results
to the previous year, the com-
pany having only been formed
at the beginning of 2005.

ColinaImperial still has a
presence in the Cayman

Islands as a result of its Cana- .

da Life purchase, and Mr
Braithwaite said the company
had made contact with the reg-
ulators there and was looking
to “increase our presence”,
exploring options for expanded
representation.

He added that Colinalmpe-
rial hoped to complete the sale
of its former Village Road
property in April, have
received a significant deposit
on it.

The company had also com-
pleted the first phase of its
Internet verification system,
allowing pharmacists to access
the nature of client coverage
and deductibles, having rolled
it out to all major pharmacies.

“T’m cautiously optimistic
about the future,” Mr Braith-
waite said. “I’d be surprised if
this is not a much stronger
company.”

. Company
Administrator

able to work on own initiative -Must be able to
correspond with clients, must be conversant with
all aspect of company administraton-preparation of
minutes, liquidation of companies, preparation and
filling of annual returns, redomiciliationofcompanies,
have a sound knowledge of International Business
Companies, Foundations, Protected Cell Companies,
Private Trust Companies, Companies incorporated
under the Companies Act 1992-must have Good
accounting background. Must be computer literate.

Qualified Applicants please e-mail:
jsmi1143 @hotmail.com

Baker’s ea

GOLF & OCEAN CLUB

As part of our commitment to employ 200 Bahamians on
our project we are seeking qualified Bahamians to apply
for the position of:

- Yacht Fleet Manager

Responsibilities will include:

“ ‘Must have 5-10 years experience managing five
‘or more yachts

“* » Must have diesel and gas engine experience

“ Must be Computer Literate

¢* | Must be willing to live on an out island

“¢ ° Ability to work on own initiative is important

6,

** - Ability to work with existing team

Salary and benefits will be based on experience and will
include health benefits. Only qualified applicants need
apply.

Applications can be directed to:
Indira Edwards
P.O. Box AB20766
Marsh Harbour, Abaco

Or iedwards@bakersbayclub.com

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 and a 70-room Juxury
hotel.

Legal Notice

—_ NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

CHIAN CHU INDUSTRIAL CO., LTD.

“Notice is hereby. given that in accordange; with Section, 137; (4),
of the International Business Companies Act: (No. 45 of 2000),
CHIAN CHU INDUSTRIAL CO., LTD. has been dissolved and
struck off the Register according to the Certificate of Dissolution issued
by the Registrar General on the 26th day of March, 2007.”

WANG, TING-MING
No. 20, Ling 19,
Hou Cou Villiage
San Chih Hsiang,
Taipei, Taiwan, R.O.C.
Liquidator

Legal Notice

NOTICE ___

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

BEYSS INVESTMENTS GMBH

“Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
BEYSS INVESTMENTS GMBH has been dissolved and struck off
the Register according to the Certificate of Dissolution issued by the
Registrar General on the 21st day of March, 2007.”

Mr. Brian Thomas Wadlow
34, South Hill Road
Gravensend
KENT DA12 1JX, UK
Liquidator

NOTICE TO
SHAREHOLDERS

J.S. Johnson and Company Limited hereby noti-
fies all its shareholders that based on unaudited
results for the quarter ended 31st March, 2007
the Board of Directors has declared an interim
dividend of fifteen cents (15¢) per ordinary share
to be paid on 17th April, 2007 to all shareholders
of record as of 10th April, 2007.

SN

Palmdale Veterinary Clinic

Needs

Telephonist/Office Assistant
"© Must'be an Animal Lovet" °°")
° Excellent Communications Skills Required
° Willing to Learn Veterinary Care
° Must be Client Oriented

Veterinary Assistant
° Must Be Animal Lover
° Respectful
° Reliable
° Hardworking
° Willing to Learn

Duties:
° Kennel Hand/Cleaner
° Animal Handling, Restraint and Caregiving

Fax Resume to 326-2173 or hand
_ deliver to Palmdale Veterinary Clinic.

HUMAN
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

¢ At least Five (5) years experience in Human
Resources
é
¢ Working Knowledge of the Employment
Act, 2001

Please submit your application via email to:

bahamasexecutivesearch@ gmail.com



Kat

ralgee'e"

&

“ts

. 2 ees Bere om eee ew |

ee

A eee ww mw

re |

wo em We weir. mee

ee ee wee em.
THE TRIBUNE

WEDNESDAY, APRIL 4, 2007, PAGE 15B>;



a or re

Credit growth falls

during early 2007

m@ By CARA BRENNNEN-BETHEL
Tribune Business Reporter ;

et foreign currency inflows
Niet excess reserves by $75.9
million for the period January
to February 2007, compared to the $14.9
million expansion experienced in the same
period last year, as domestic credit growth
contracted, the Central Bank revealed in
its montly report on economic develop-
ments for February.

The Central Bank reported that eco-
nomic growth momentum was maintained,
aided by steady increases in construction-
related tourism investments and moderate
growth in domestic demand.

Excess reserves advanced by $29.6 mil-
lion to $212.1 million during February
2007, compared to a decline of $14.5 mil-
lion in 2006. Likewise, 2006’s $17.3 million
drop in excess liquid assets was reversed to
a $25.8 million increase to $84.2 million,
with banks increasing their holdings of
Government securities.

Underlying the improvement was a
more than four-fold increase in commer-
cial banks’ net purchases of foreign cur-



rency from customers to $426.3 million.
which supported a shift in the Central
Bank’s transaction with banks to a net
purchase of $65.6 million from a mere $2.3
million.

Total Bahamian dollar deposits rose by
$46.6 million during February 2007, up
$44.7 million in 2006, while oil and non-oil
import payments fell by 69.3 per cent and
29.1 per cent respectively to $10.4 million
and $82.1 million.

Domestic credit contracted, which com-
bined with increased net foreign currency
inflows, reinforced gains in both external
reserves and liquidity.

For the first two months of the year,
the Central Bank revealed that Bahamian
dollar credit fell by $24.9 million com-
pared to the gain $37.8 million experi-
enced a year ago, as the public sector used
loan proceeds to reduce its indebtedness
to the banking system by $51.6 million.

A combination of tightened liquidity
conditions and seasonal borrowing trends,
growth in private sector growth slowed
by 41.7 per cent to $52.6 million. ,

Mortgages, which accounted for 43.7
per cent of the private sector credit, saw

growth slow by $10 million to $36.7 mil-
lion, overshadowing the slight $1 million
rise in consumer credit growth to $17.7
million.

The decline in net claims on the Gov-
ernment during the first two months of
the year was lower at $25.9 million, com-
pared to the $45.2 million in the previous
year.

Credit to the rest of the public sector
contracted by $9.6 million - a turnaround
from last year’s increase of $13.9 million -
while net credit to Government, which
fell by $4.6 million in 2006, grew margin-
ally by $0.1 million. Also, the bank said
accretions to Bahamian dollar deposits
rose by $66 million to $78.3 million, as
increases in fixed and savings balances
offset declines in demand deposits.

Fixed deposits firmed by $86 million,
occasioned in part by the favourable inter-
est rate environment, which was more
than double the year’s previous expan-
sion. Also, savings deposit growth
strengthened to $17.1 million from $2.5
million in 2006. However, the decline in
demand deposit was slightly reduced at
$24.8 million.

Cabinet: We will not compromise
financial services over EPA talks

The Bahamas submitted its

Everywhere The Buyers Are!

NOTICE rf

NOTICE is hereby given that DEGRACE PIERRE LEWIS-
CILLIEN OF MARSH HARBOUR, P.O. Box AB 20104,
ABACO, BAHAMAS is applying to the Minister responsible
for Nationality and Citizenship, for registration/naturalization

as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 4th day
of April, 2007 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

Conia
re Ae

jets an tr, | her. eu
Geis 4

Tee Ores Ue skeet











c we
ee

FROM page 1B

that if they happened could
undermine the economy’s sec-
ond largest industry.

However, the sector is likely
to be reassured, at least for the
moment, by the Government’s
commitment to maintaining
the position advanced to
counter the Organisation for
Econoinic Co-Operation and
Development’s (OECD)
‘harmful tax practices’ initia-
tive, namely that any further
tax information exchange
agreements (TIEAs) and talsk
on them are off the table until
the OECD and its members -
including most EU nations -
establish a ‘level playing field’
on tax issues.

Ms Warren told The Tri-
bune yesterday that the
Bahamas and its financial ser-
vices industry had to “deter-
mine to what extent we can see
opportunities, to what extent

¢
__we can see threats, and to what

extent do we engage in this
process” with regard to the
EPA.

BFSB had formed its own
sub-committee to analyse
EPA-related issues prior to
learning that the Government
had committed to negotiating
with the EU through CARI-
FORUM and signing up to
whatever offer this organisa-
tion made.

Ms Warren, who attended
the two-day technical working
group session on the EPA in
Barbados last month along
with representatives from the
Chamber of Commerce and

- other private sector groups,

said the BFSB was seeking
input on the process from both
its members and the general
financial services industry.
“From our perspective, the
priority right now is to offi-
cially engage the private sector,
now the Government has said
it will be submitting offers to

NOTICE

the CARIFORUM process on
the EPA.” |

Once the Bahamas fully
signs up to the EPA, the Most
Favoured Nation (MFN) prin-
ciple - meaning that this nation
has to offer the same trade

‘ benefits and preferences to all

other countries in a non-dis-
criminatory manner - kicks-in
when it comes to negotiating
other trade agreements.
These could include, apart

from WTO membership; thé ’

Caribbean Basin Initiative

(CBI) replacement withthe |

US, the Caribbean Single Mar-
ket & Economy (CSME) and,
at a stretch, the Free Trade
Area of the Americas
(FTAA), plus all bilateral and
multilateral deals this country
enters into in the future.

The Bahamas, in these
instances, will have no choice
but to offer other countries in
these talks the same terms it
offered and signed up to in the
EPA.

initial market access offer to
CARIFORUM at the meeting
in Barbados, with this nation
facing significant challenges
and opportunities in preparing
its laws and business environ-
ment for this and other rules-
based trading regimes.
Although the Bahamas may
have submitted an initial mar-
ket access offer, much work
remains to be done to bring

‘this nation's laws, regulations

and policies up to standard and
in line with the demands of a
rules-based trading regime.

For instance, the Bahamas
has yet to develop a competi-
tion or antitrust policy, and
does not have regimes for
Rules of Origin, Anti-Dump-
ing, Countervailing Duties and
Safeguards. These are all areas
that will need to be tackled,
and are likely to require a new
government department or
expanded Customs Depart-
ment to deal with them.



NOTICE is hereby given that NICOLA KATHERINE STEWART
PAINE OF 139, SEAGATE LANE, P.O.BOX’ F-40320,
FREEPORT, GRAND BAHAMA, BAHAMAS, is applying to
the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a. citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days from
the 28TH day of MARCH, 2007 to the Minister responsible for

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

NOTICE

NOTICE is hereby given that FANISE SIMON OF
SPANISH WELLS, ELEUTHERA, BAHAMAS is
applying to the Minister responsible for Nationality and
Citizenship, for registration/faturalization 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 4th day of
April, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE
GOTLAND STEAMSHIP
COMPANY (BAHAMAS) LIMITED



Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned cio P. O. Box N-624, Nassau, Bahamas on or
before 24th April, A.D. 2007. In default thereof they will be
excluded from the benefit of any distribution made by the
Liquidator.

Dated the 3rd day of April, A.D., 2007.

Arthur Seligman
Liquidator
Shirley House
50 Shirley Street
Nassau, Bahamas.

NOTICE

EXXONMOBIL EXPLORATION NEW
RESOURCES AUSTRALIA LIMITED

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice is hereby
given that the above-named Company has been dissolved and
struck off the Register pursuant to a Certificate of Dissolution
issued by the Registrar General on the 26th day of March,

A.D., 2007.

Dated the 2nd day of April, A.D., 2007.

K.L. Floyd
Liquidator of
EXXONMOBIL EXPLORATION NEW RESOURCES

AUSTRALIA LIMITED



NOTICE

GOTLAND STEAMSHIP COMPANY
(BAHAMAS) LIMITED

NOTICE IS HEREBY GIVEN as follows:
(a) GOTLAND STEAMSHIP COMPANY (BAHAMAS)

LIMITED is in dissolution under the provisions of
the International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the
2nd day of April, 2007 when its Articles of Dissolution
were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is Arthur Seligman of
Shirley House, 50 Shirley Street, Nassau, Bahamas.

Dated the 3rd day of April A.D., 2007.

HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD.
Attorneys for the above-uamed Company



COMMONWEALTH OF THE BAHAMAS CLE/qui/00205/2007
IN THE SUPREME COURT she

IN THE MATTER OF ALL THAT piece

parcel or lot of land situate on No Name Cay |
one of the Abaco Cays in the Commonwealth |
of the Bahamas. mye

AND al
IN THE MATTER of Quieting Titles __.,
Act 1959 “ab

AND ai

IN THE MATTER of the Petition of +
Arthur H. Lowe

NOTICE

Notice is hereby given that Arthur Havelock
Lowe Jr. is applying to the Supreme Court
of the Commonwealth of the Bahamas to
have his title to the following investigated...
under Section 3 of the Quieting Titles Act#==
1959 and the nature and extent thereofs.
determined and declared in a Certificate of
Title to be granted by the Court in accordances==

of the said land may be inspected during
normal working hours at the followinge-
places: | oi
1. “ALL THAT piece parcel or lot of
land situate on No Name Cay one of the
Abaco Cays in the Commonwealth of the
Bahamas. a
Copies of the same may be inspected during ; «
normal office hours at the following places...

a) The Registry of the Supreme Court of Nassau;’
Bahamas inl
b) The Chambers of Andrew C. Allen Law.
Chambers, 204 Lagoon Court, Olde Towne;
Sandyport, Nassau, The Bahamas.

c) The Administrator’s Office, Cooper’s Town,
Abaco, The Bahamas ie

Any person who objects to the granting of the
said Certificate of Title is required to file in the
Supreme Court and serve on the Petitioner or
their attorney a Statement of his, her or its
Claim in the prescribed form verified by an
Affidavit served therewith, by failure of any
such person to file and serve a Statement of
his, her or its Claim as aforesaid non compliance,
with this Notice will operate as a bar to such=

Claim. a
Andrew C. Allen Chambers x

204 Lagoon Court se

Olde Towne, Sandyport sae

Nassau, The Bahamas a
PAGE 16B, WEDNESDAY,










KEY WEST
High: 82° F/28° C
Low: 74° F/23°C

ONOWN IS WEAY SVEcl oI. & Jb

IGoc &

highs and tonights's lows.

U.S. Cities









Today Thursday

High ~=Low Ww High ~=Low Ww

F/C F/C F/C F/C
Albuquerque» 75/23. 46/7 po 75/23 47/8
Anchorage 41/5 25/-3 pc 44/6 28/-2 pc
Atlanta. 70/21 40/4 po 68/17 37/2 s
Atlantic City 58/14 34/1 ¢t 51/10 24/-4 pe
Baltimore’ 62/16 36/2 t 48/8 28/-2. s
Boston 40/4 33/0 r 47/8 30/-1 pc
Buffalo > 48/8 24/-4 4 38/0 20/6 sf
Charleston, SC 87/30 50/10 t 69/20 42/5 s
Chicago = 42/5 29/-1 sf 40/4» 26/-3 pc:
Cleveland 44/6 27/-2 © 34/1 23/-5: sf
Dallas 66/18. + 47/8 o> B47 45/7 oo
Denver S21 35/1) ¢ 57/13 32/0 r
Detroit) 9 42/5 24-4 sn 87/2 23/-5* st’
Honolulu 82/27 66/18 s 84/28 66/18 s

Houston 9) °76/24°S5/M2t 74/23. 51/10






Mostly sunny.

i ILS
84° F







PL







THURSDAY FRIDAY

rad,

wr



Sun and some Intervals of clouds









clouds. and sun.
High: 81° High: 79°
Low: 69° | Low: 69°





rewire

ATU

PATE

ACCUWEAITES






iE





































Periods of clouds and

Meeaatelne



sun.
High: 79°
Low: 69°







A rilleatt
















Mostly cloudy. The higher the AccuWeather UV Indexâ„¢ number, the
greater the need for eye and skin protection.
High: 79°
Low: 71°






































Ht(ft.) Low Ht. (ft.
The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure, and Today 9:39am. 2.5 3:36am. 0.1
elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 9:54p.m. 2.8 3:35pm. 0.2
thursday 10:11am. 24 4:12am. 0.2
Thursday tog pm. 28 4:08pm. 02
sec 7 are for Nassau through 2 p.m. yesterday Friday 1045am. 23 4:49am. 03
ABACO Temperature 11:06p.m. 2.7 4:42pm. 0.3
7 é HIGH) secsssstcieccscacsesmaastnnciaias f° b/26° C TT: 5 :
Bete Tart LW re rete | Saturday Tao eam O3
F/21 Normal RIQH .sccscstssssssssessenee 80° F/27°G nial
Normal IOW ....cescssscssecsesecseeeseesterteess 08° F/20° C ;
Last year’s HIGH ocjccussssueunsnennee 82° F/28°C BATE NTH EHU)
peer Faas apa HOW: ccsiscsssscisieennvecccssvisenceces OF? FATE? C Be a a
Low: 68° F/20° recipitation untise......6:59a.m. Moonrise ....9:21 p.m.
AS Of 2 P.M. YEStErdaY veeccsccssssssesssseese. 0,00" Sunset.......7:27 p.m. Moonset . . . . . 7:49 a.m.
Vear tO Gate esscsccssssesssgesanircccsvecontecsnnesiiane ied” : j
High: 80° F/27° C Normal year to date o...seeseeseneeeeeeees O46” ssc = sob Fal
Low: 67° F/19°C
AccuWeather.com
All forecasts and maps provided by A 5 ee
vi § AccuWeather, Inc. ©2007 7 i
os ELEUTHERA Apr. 10 Apr. 17 Apr. 24 May 2
85° F/29°C
:71°F/22°C
CAT ISLAND
: 80° F/27°C
266° F/19°C
SAN SALVADOR
_ High:82°F/28°C
Low: 69° F/21°C
ley ds
Low: 71° F/22°C
Today Thursday Thursday MAYAGUANA
High Low -W High Low W High Low W High Low W High: 83° F/28° C
FC FIC FIC FIC FC FIC
Indianapolis 44/6 24/-4 pe 42/5 -25/-3 pe —- Philadelphia” 57/13 “49/9 29/-1 pe
Jacksonville 87/30 53/11 t 74/23 «41/5 s Phoenix 93/33 65/18 s 94/34 65/18 pc
Kansas City 50/10 27/-2 s. 48/8° 28/-2 cc —s~PittsBurgh’ = 52/11 27-2 36/2 23/5 sf RAG
Las Vegas 87/30 62/16 pc 89/31 65/18 pc Portland,OR 62/16 46/7 c 71/21 50/10 pe High: 83° F/28°C
Little Rock 65/18 42/5 pe 6216 40/4 pe ——Ralleigh-Durham’'80/26°" 40/4: pc: Low: 68° F/20°C
Los Angeles 73/22 5713 pe 75/23 55/12 pc St. Louis 52/11 29/-1 pe 7
Louisville S429 30/1 ope’ S010 29/1 pe —- Salt’ Lake City” 69/20 47/8 68/2
Memphis 66/18 40/4 pe 57/13 38/3 pc San Antonio 77/25 5412 c . 74/23 53/11 pe Se
Miami 85/29. 69/20. pe" 84/28 668 pe 0-58/1 66/18. 56/13" pe: gn



Minneapolis 34/1 19/-7 sf 34/1 19/-7 pc
Nashville = °° OAS. S5/- pom 52/11 32/0 pe:
New Orleans 79/26 57/13 t 72/22 51/10 pc
New Yorks S21 88/9 48/8-- 32/0~ pe
Oklahoma City 62/16 42/5 pe 5713 38/3 c

Orlando» tere BG/BOGOASapesem81/27—S8/tepe: Washington, DC 64/17 38/3 t








49/9
“Adin rr :

5010 t
/27- G3ATp

9/31 58/14 s














eS és
Tucson

50/10 31/0 s







Acapulco =
Amsterdam
“Ankara; Turkey
Athens ;
‘Auckland —
Bangkok
‘Barbados. =
Barcelona
Beijing.
Beirut
Belgrade
Berlin
Bermuda :
Bogota
Brussels
Budapest
Buenos Aires
Cairo
Calcutta -
Calgary
Cancun
Caracas
Casablanca
Copenhagen
Dublin
Frankfurt

Geneva

Halifax

Havana
Helsinki

‘Hong Kong
Islamabad.
Istanbul: 25
Jerusalem
Johannesburg)
Kingston







Line

London
Madrid =
Manila
Mexico City)
Monterrey
‘Montreal —
Moscow
‘Munich —







‘New Delhi
Oslo
‘Paris
Prague /
Rio de Jane







‘St. Thomas _
‘San







Winnipeg











86/30
64/17"



-7p4/28 64/1

88/31



Today
High Low W
F/C F/C
~~ 88/31 72/22 s
54/12 38/3 ¢
55/12 = 30/-1 pe
66/18 52/11 pc
~~. 67/9 57/3 pe
94/34 77/25 pc
~ 84/28 75/23 pc
58/14 50/10 sh
55/12 41/5 s
61/16 58/14 pc
62/16. 40/4 c
50/10 32/0 pc
68/20 62/16 pc
64/17 50/10 pc
54/12 34/1 c
58/14 38/3 sh
75/23. 59/15 s
79/26 58/14 s
99/37 78/25 s
32/0 23/-5 sf
86/30 70/21 pc
81/27 66/18 c
65/18 56/13 pc
521 8940/4 c
55/12. 41/5 pe
5412 32/0 pc
5512 38/3 sh
38/3 29/-1 pc
88/31 70/21 pc
41/5 28/-2 pc
67/19 65/18 pc
79/26 60/15 pc
66/18 46/7 pc
60/15 43/6 pc
71/21 52/11 pe
84/28 75/23 pc
“78/25 66/18 ¢
55/12 41/5 pe
2500 39/3
86/30 74/23 pc
22787226600 t:
88/31 63/17 t
39/3 30/-1 r
42/5 26/-3 sn
‘48/8 32/0 °c
SQ
94/34 70/21 ss
52/11 36/2 pc
B42 34/1 pe’
47/8 32/0 pc
88/31 76/24 pc



72/22

4
'25/-
72/22 t







81/27

O15 43/6 s
26/-3 14/-10 pc













Thursday
High Low W
F/C F/C
88/31 73/22 pc
54/12 = 41/5 pc
54/12 = 41/5 sh
64/17 46/7 pe
65/18 57/13 ‘pe
96/35 80/26 pc
86/30 76/24 pc
6417 49/9 c
63/17 48/8 c
70/21 65/18 pe
47/8 = 32/0 s
52/11 39/3 pe
70/21 60/15 sh
66/18 50/10 r
64/17 = 47/8 pc
53/11 35/1 pe
75/23 59/15 s
88/31 68/20 s
101/38 76/24 s
43/6 28/-2 ¢
86/30 72/22 pce
82/27 72/22 pc
64/17 53/11 s
53/11 42/5 s
59/15 43/6 pc
6116 45/7 pe
62/16 36/2 pc
41/5 28/-2 r
81/27 63/17 c
39/3 25/-3 pc
68/20 67/19 sh
91/32 65/18 s
57/13 48/8 +
75/23 55/12 s
71/21 52/11 pe
84/28 77/25 pe
79/26 67/19 c
63/17 39/3 pc
5412. 41/5 sh
87/30 74/23 pc
70/21 48/8 t
79/26 64/17 pc
39/3 30/-1 sf
45/7 25/-3 ¢
HSA 36/2'S
f 7/13 Ne
292/33" 741/21"s
50/10 32/0 pc
57/13) 39/3's'
5412 40/4 pe
85/29 73/22 c
88/31 67/19 s
64/17 48/8 co
82/27 74/23 pc
71/21 50/0 Tr
86/30 70/21 pc



46
70/2



1 pc



Ie
39/3"

Weather (W):’s-sunny, pe-partly cloudy, c-cloudy, sh-showers, t-thundef®
storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prep-precipitation, Tr-trace



a UL

Marine FoRECAST









WINDS WAVES VISIBILITY WATER TEMPS.
NASSAU Today: E at 5-10 Knots 1-2 Feet 6-7 Miles 77°F
Thursday: VAR at 5-10 Knots 0-1 Feet 6-7 Miles ik















FREEPORT Today: SSE at 5-10 Knots : 0-1 Feet 6-7 Miles iS F
Thursday: | WSW at 5-10 Knots 0-1 Feet 4-7 Miles i5'E
ABACO Today: SSE at 5-10 Knots 1-2 Feet 6-7 Miles °F
Thursday: _ SW at 5-10 Knots 1-2 Feet 5-7 Miles 75° F

NNN) Showers
[=] T-storms
[o°"] Rain

[x * | Flurries

Fronts
Cold ==

Shown are noon positions of weather systems and
Warm Menlienliie

precipitation. Temperature bands are highs for the day.
Forecast high/low temperatures are for selected cities.

aS





uto Insurance,

choice is





JRANCE BROKERS & AGENTS

0 | Eleuthera =| Exum
SOPPADOA FT (242) 382-2860 1 Tel (24” 336-2808



xml version 1.0 encoding UTF-8
REPORT xmlns http:www.fcla.edudlsmddaitss xmlns:xsi http:www.w3.org2001XMLSchema-instance xsi:schemaLocation http:www.fcla.edudlsmddaitssdaitssReport.xsd
INGEST IEID EQE2SV29B_UXB9J8 INGEST_TIME 2011-11-01T18:21:59Z PACKAGE UF00084249_02861
AGREEMENT_INFO ACCOUNT UF PROJECT UFDC
FILES