Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

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University of Florida
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University of Florida
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Full Text
‘m Lhe Tribune

i'm lovin’ it.

CLOUDS, SUN, |

ee ESTORM

Volume: 103 No.115



Che Miami Heral

BAHAMAS EDITION

WEDNESDAY, APRIL 11, 2007








Binkea is bahy’s father

RE CT aati
out on CSME intentions

SEE FRONT PAGE OF BUSINESS SECTION

DNA test results
revealed in court

® By PAUL
TURNQUEST
Tribune Staff Reporter

LARRY Birkhead was jubi-
lant yesterday as he
announced outside the
Supreme Court that he is def-
initely the biological father of
Anna Nicole Smith’s six-
month-old daughter Dan-
nielynn.

DNA tests were conclusive-
ly in his favour when they
were revealed in court, bring-
ing to an end the seemingly
- endless wrangle over the
’ child’s paternity.

Mr Birkhead smiled broad-
ly as he faced the crowd while
his rival, Howard K Stern,
looked downcast and dis-
traught.

Mr Birkhead had been bat-
tling the former Playboy Play-

mate’s companion over pater-
nity for months. But his confi-
dence in the outcome proved
well founded.

“T told you so!” Mr Birk-
head screamed, as he left the
court of Justice Stephen Isaacs
yesterday.

Immediately, cheers erupt-
ed from the crowd gathered
outside.

“What’s next for you Lar-
ty? What’s next!” onlookers
asked.

“There's certain things I
can’t talk about. But this is
one I’m happy to talk about.
Nothing is really determined,
except for parentage. It’s a
long journey and I’m just hap-
py to have this behind me,”
he said.

According to Dr Michael

SEE page nine

‘No health risks’ for homeowners
in eastern Shirley Street area

@ By KARIN HERIG
Tribune Staff Reporter

THERE are no health risks for homeowners in the eastern
Shirley Street area despite the occasional and limited petroleum
contamination of the ground water by a service station.

This was the statement of both the operators of the station in
question — Chevron Bahamas Ltd — and the Department of Envi-
ronmental Health, in view of increasing concerns among the area’s

residents.

Ron Pinder, parliamentary secretary in the Ministry of Energy
and Environment, explained that the station is currently being

SEE page nine

star

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UT

yay
( we) ‘



a



MANAGEMENT |

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SIN EANC /
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PAC ULC ICO SI. ae



poo







@ LARRY BIRKHEAD (left) and Howard K Stern outside of court yesterday

(Photos: George Smith)

New crime chief: expect to see
more senior officers on front line

@ By BRENT DEAN

police officers, including Chief Supt Glenn



"IF YOU are in the business of taking the
lives of other people, the Bahamas is not the

place tor you."

This bold declaration was made yesterday
by the new crime chief, Senior Assistant Police
Commissioner Elliston Greenslade, in a press
conference that marked a shift of power in the

force.

Mr Greenslade, who officially took over the
portfolio last Wednesday from his predecessor,
Senior Assistant Police Commissioner Regi-
nald Ferguson, was accompanied by Assistant
Commissioner, James Carey, and other senior

Miller, head of CDU.
Mr Greenslade said the haemorrhaging must
stop, regarding the wave of violent crime that

has gripped the Bahamas over the first quarter

of the year. Currently, the murder rate stands
at 24, as compared to the 13 murders that
occurred over the same period last year. If the
current rate of killings persists, the Bahamas is

on pace for more than 80 murders this year —a

dubious record for the country.
In an effort to reverse this trend, Mr
Greenslade said that the public should now

SEE page nine

Pregnant woman among four
drowned illegal immigrants

@ By DENISE MAYCOCK
Tribune Freeport
Reporter _ -
FREEPORT ~— An illegal

smuggling operation ended in

tragedy when four persons
among them a pregnant Hait-
ian woman — drowned when the
vessel they were on capsized
late Wednesday evening in
rough seas off Eight Mile Rock.
According to reports, a group
of about 47 illegal immigrants of
various nationalities, mostly

Haitians, were cramped
onboard a 25Sft speedboat head-
ed for Miami when it over-
turned in waters around 10pm.

The victims — two women
and two men — were all Hait-
ian nationals. Bahamian author-
ities are still searching the sur-
rounding waters for other pos-
sible victims.

In the meantime, four Haitian
women, who were found hud-
died together on the beach, are
in custody. One of the women
was admitted to hospital for



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shock as a result the incident.

Chief Supt Basil Rahming
said the bodies of a pregnant
black woman and a black man,
believed to be Haitians, were
discovered on the shore at
Lovers’ Beach, Eight Mile
Rock, around 10.40pm when
police and immigration officials
arrived in the area.

He said a third body, which
was that of a black man, washed
ashore near the eastern end of

SEE page nine



CMM OL POP RAGs Mihi o Mei rene Oy

os Be

i eaee bea]

TOE Ceoan Pers Uae ity oe en



Se Ea SR BU UT es

Do Breakfast.

PRICE — 75¢





Voters turned
away early from
collection point

CONFUSION led to anger yes-
terday among voters trying to col-
lect their voter's cards in the Mon-
tagu constituency, as they were
turned away from the publicised
collection point by security guards.

Members of the public were
denied access to Queen’s College
by security guards after 6pm,
despite statements issued by the
parliamentary registration depart-
ments stating that collection could
take place between 10am and 9pm.

The Tribune received numerous
complaints about the situation from
frustrated Bahamians.

However, Errol Bethel, parlia-
mentary registrar said that the clo-
sure of the college was only tem-
porary, due to the large number of
voters already in the school's gym,
where collections were taking place.

‘Other than this incident, card
collection yesterday appeared to
have gone smoothly, with thou-
sands of voters successfully picking
up their cards throughout the morn-
ing and into the afternoon.

Darold Miller
stages one-man

protest outside
of Gems FM

@ By ALISON LOWE
Tribune Staff Reporter

ACCUSED radio broadcast-
er Darold Miller staged a one-
man protest outside the office of
his employer, Gems FM, yes-
terday morning.

The popular radio personali-
ty — recently the subject of
complaints of a sexual nature
made to police — reportedly
arrived in the parking lot of the
station shortly after 9am, and
proceeded to read passages
from the Bible, sources claimed.

He erected two large signs on
an empty lot opposite the sta-
tion apparently protesting the
claims against him, and his sub-
sequent suspension from the
radio station.

One of the signs read
"Bahamas Loves Darold Miller,
Uplift Him", and the other,
"Thou Shalt Not Bear False
Witness."

However, the lettering was
fixed onto boards which already
had "Coca Cola" and "Dasani"

SEE page nine



URITY ALERT!









PAGE 2, WEDNESDAY, APRIL 11, 2007

THE TRIBUNE



LOCAL NEWS



Website dedicated in honour |
of Bahamian cultural icon

@ By TRIBUNE STAFF



FAMILY and friends of the
Bahamian cultural icon Viveca
Watkins, who passed away yes-
terday at the age of 55, have
created a website in her memo-
ry.

The website, http://viveca-
watkins.memory-of.com, creat-
ed by Erica Laing, pays tribute
to Viveca as: “A multi talent-
ed actor, comedienne, director,
radio and TV personality.”

“Viveca was well known and
loved by many,” it said. “Even
those who did not know her by
name often stopped her and
asked her: ‘hen you is the Car-
nation lady?’

It said that Viveca “loved her
country and took great pride in
being a Bahamian and being
able to represent the Bahamas

DEBRA Opri







Uchenna extends special thanks to her parents and family for their continued prayers and
support, She also thanks her Oakwood family especially Antoine Bowe, PTG Sentinel,

internationally. She died as she
lived — with a smile on her
face.”

A number of condolences
and tributes have been posted
on the website.

Director of Culture Dr Nico-
lette Bethel wrote an official
tribute from the Cultural
Affairs Division describing
Viveca as: “a fixture in the cul-
tural scene of the Bahamas —
actress, comedienne, writer, per-
sonality, celebrity, and all-round
consummate performer.

“We will miss her more than
we can measure at this time,”
the message said.

Eddie Carter of Island FM
wrote: “On behalf of the entire
Island FM family and the Carter
family we send true heart felt
condolences to the entire fami-
ly. Viveca’s talents will be





,. yeoma

on the passing dt the CPA Examinations

Uchenna C. lieoma is a 1995 graduate xf Queen’s College. She studied at The College of
The Bahamas for one year before joining Providence Technology Group (PTG}. In 1999,
lieoma pursued her Bachelor's degree at Oakwood College, in Huntsville, Alabama.

In 2002 she completed her degree and joined the team at Deloitte & Touche. During this
time she also served as Treasurer at the Living Faith, Seventh Day Adventist Church. In
June of 2005 she gained some experience working at Sentinel Bank & Trust. She then
rejoined the Deloitte team in September 2006.

Deloitte, and Living Faith family,

Uchenna expressed that she is “blessed and relieved to be finished."
She also encourages others studying for the CPA exam to “believe that you can achieve
if because it is attainable and at the end of it all you will be very happy.”

loitte.

EongrallelD

missed by ALL.”

Historian and head of the
Department of Archives Gail
Saunders sent a message to the
family which read: “I was
deeply saddened to hear of
Viveca's death. She had such
energy, giving her all on stage.
She made a great contribution
to Bahamian theatre and will
be sadly missed.”

Viveca’s brother, former
police officer and longtime pub-
lic servant Errington Watkins,
wrote: “You have touched the
lives of so many in this your
short journey on this earth. You
brought joy to all the lives you
touched. May your rest in peace
my dear sister.”

Those wishing to add their
own tributes to Viveca can do
so at the aforementioned web
address.





Birkhead’s former lawyer
sends congratulations
after custody battle victory

LARRY Birkhead’s former
attorney Debra Opri says she
is happy about the results of
yesterday’s paternity hearing.

Opri parted ways with Birk-
head last month and has since
claimed that he has an out-
standing bill of more than half a
million dollars.

She issued a statement yes-
terday which read; “I am very
excited and happy for both Lar-
ry and Dannielynn today. | am
very proud of him and our six-
month legal fight.

“Iam proud of our strategies
during the many twists and turns
of this journey which brought
us from California, to Florida,
and finally to the Bahamas. We
may never see the likes of this
kind of case again.”








It was announced yester-
day outside the Nassau
Supreme Court that Birkhead
is definitely the biological
father of Anna Nicole Smith's
six-month-old daughter, Dan-
nielynn.

Last week, TMZ reported
that Opri had asked Birkhead
for $620,000 as payment for
her services.

Opri, who had been a con-
stant companion to Mr Birk-
head, often addressing the
media on his behalf in an out-
spoken fashion, allegedly
billed her services at $475 an
hour.

The impressive bill was said
to include payments for Ms
Opri’s personal publicist, the
time she spent on flights to
and from the Bahamas, and
a $2,467 — seafood dinner at

@ LARRY Birkhead gives interviews to the press after the

Graycliff, which Mr Birkhead
allegedly did not attend.

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

Ms Opri reportedly offered
Mr Birkhead a $100,000 dis-
count if he agrees to pay the
bill without further discussion.

The statement issued yes-
terday by Opri continued:
“Dannielynn is quite possibly
the most adorable baby I have

ever seen. My prayers and.

best wishes will forever be
with Larry and Dannielynn
as they travel down the road
of life together.”





results of DNA tests are revealed

(Photo: Mencken Rolle)

Pevnernnne aay

ee





© In brief

| Judge asked
to reconsider

bond for
Cuban militant
B@ TEXAS
EI Paso
PROSECUTORS _have

asked a federal judge to recon-
sider an order granting bond for
anti-Castro militant Luis Posada
Carriles, who is accused by
Venezuela in the 1976 bomb-
ing of a Cuban jetliner, accord-
ing to Associated Press.

US District Judge Kathleen
Cardone ordered Posada
released from a New Mexico
jail on bond pending a sched-
uled May trial on charges that
he lied to investigators in a bid
to become a naturalized US cit-
izen.

In a nine-page motion filed
Monday in El Paso, the gov-
ernment asked Cardone to
either reverse her decision
issued Friday, or hold a hear-
ing about the source of proper-
ty Posada would use as collat-
eral for his $250,000 surety bond
and whether that property
would reasonably “assure the
presence of the defendant at tri-
al.”

It was the second bid by pros-
ecutors to delay Posada’s
release. On Friday, the govern-
ment filed a motion to stay Car-
done’s order while lawyers con-
sidered whether the decision
would be appealed.

Climate change
to affect world
food and water
supplies

@ MEXICO CITY

RISING global temperatures
could make Latin America’s
melting glaciers completely dis-
appear within 15 years, send
hurricanes crashing into places
that have never seen them, stop
wheat from growing in Africa
and change the global face of
tourism, according to a UN
report released Tuesday,

according to Associated Pres: ==":
The report, written and _—

reviewed by hundreds of scien-
tists, outlined dramatic effects of
climate change, including rising
oceans, food and water short-
ages, the disappearance of
species, and intensifying natur-
al disasters. It said 30 per cent of
the world’s coastlines could be
lost by 2080.

Scientists with the Intergov-
ernmental Panel on Climate
Change provided details of the
report in news conferences
around the world Tuesday, four
days after releasing a written
summary of their findings. The
report is the second of three
being issued this year; the first
dealt with the physical science
of climate change and the third
will deal with responses to it.

In Mexico City, scientists pre-
dicted that global warming
could cost the Brazilian rain-
forest up to 30 per cent of its
species and turn large swaths
into savannah. They said ocean
levels worldwide will creep up
each year, rising 4.3 feet along
Latin American coastlines by
2080 and flooding low-lying
cities such as Rio de Janeiro
and Buenos Aires.

Polar ice caps will likely melt,
opening a waterway at the
North Pole that could make the
Panama Canal obsolete, IPCC
member Edmundo de Alba
said. Tropical storm seasons will
spawn bigger and more danger-
ous hurricanes that will threaten
coastlines not traditionally
affected by them, like in 2005,
when an unusually strong trop-
ical cyclone formed off Brazil’s
southern Atlantic coast. Its
70mph winds prompted many
meteorologists to classify it as a
hurricane, even though hurri-
canes are not supposed to occur
in the southern Atlantic Ocean.

Latin America’s diverse
ecosystems will struggle with
intense droughts and flooding
and as many as 70 million peo-
ple in the region will be left
without enough water, the
report also predicts.

By 2080, water shortages
could threaten 1.1 billion to 3.2
billion people, depending on the
level of greenhouse gases that
cars and industry spew into the
air. Water supplies will be most
diminished in areas relying on
meltdown from mountain
ranges, where one-sixth of the
world’s population lives.

That’s especially true in the
Andean mountains of Peru,
Bolivia, Ecuador, Colombia and
Venezuela, where glaciers are
already retreating rapidly, and
are expected to disappear with-
in 15 years,

0 =
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THE TRIBUNE

WEDNESDAY, APRIL 11, 2007, PAGE 3



FNM proposes to create first
- national development plan

oln brief

Easter
party held

for children
with HIV

FOR the first time ever,

SuperClubs Breezes in con-

_ junction with the Ministry of
Health’s AIDS Secretariat
hosted an Easter celebration
for the children affected by
HIV.

The Breezes family fed and
entertained the children and
their families with the sup-
port of the Fat Back Kids

Club.

' Activities included an East-
er egg hunt, an egg decora-
tion contest, an egg and
spoon race and many more
games, prizes and surprises.

According to Breezes
director of sales Donella
Bethel: “We truly enjoy par-
ticipating in the activities and
interacting with the children
at these events.

“This is certainly the first
_-of many as we at Breezes
Bahamas have committed
our continued support and
dedication to Ministry of
Health and Bahamas AIDS
Secretariat”.

Mary Ann
Dupuch

- dies after
long illness

MRS Mary Ann Dupuch,
wife of Mr Bernard Dupuch,
died at the couple’s
Seabreeze home at 1.30pm
yesterday after a long illness.

Mrs Dupuch is survived by
her husband, their son,

’ Anthony, daughter-in-law,
Rose, granddaughter, Alina,
her sister, Ms Wanda Bartos,
several nieces, nephews and
in-laws.

Funeral arrangements will
be announced later.

Jamaica
police report
'. Marijuana
seizure rise

B JAMAICA
‘Kingston

‘ POLICE in Jamaica have
seized more than 20,000 kilo-
grams of marijuana so far this
year, more than half the
amount collected all of last
year, the chief of the nar-
cotics division said Monday,
according to Associated Press.

Superintendent Carlton
Wilson said -marijuana has
gained favour as an export

. -due to a decline in the
- cocaine supply in Jamaica,
where suspected major
cocaine traffickers have been
arrested in recent years.

Jamaica is the Caribbean’s

' largest producer and exporter

of marijuana, according to a
report last month by the US
State Department. Marijuana
plants are grown mostly on
mountain hillsides or hidden
among other crops.

“We have noticed that per-
sons are cultivating it in areas
inaccessible to police,” Wil-
son said.

Puerto Rican
journalist

Gaspar Roca
passes away

® PUERTO RICO
San Juan

GASPAR Roca, a journal-

ist who founded the Puerto
Rican daily El Vocero and
directed it for more than
three decades, has died, his
family said Monday. He was
80, according to Associated
Press.
_ Roca died of respiratory
failure Sunday at his home
‘in the Hato Rey section of
San Juan, according to a
statement by his family.

A native of Yauco near the
Caribbean island’s southern
coast, Roca founded El
Vocero in 1974 and worked
as its editor until his death.
The newspaper is considered
one of the major dailies in
the US territory, with a cir-
culation of 132,000.

Oscar Serrano, president
of the Puerto Rico Journalists
Association, credited Roca
with improving press free-
dom on the island by pushing
several court challenges
including a 1980s case in
which the US Supreme Court
opened preliminary criminal
hearings in Puerto Rico to
the public.

@ By RUPERT MISSICK Jr
Chief Reporter

THE FNM is promising that
if elected, they will begin the
task of creating the country’s
first ever national development
plan to take the Bahamas into
its 50th year of independence
and beyond.

The party said in its weekly
commentary that if it wins the
government in the May 2 elec-
tion, it will establish a national
planning unit attached to the
Office of the Prime Minister
that will oversee an extensive
collaboration process which will
lead to the creation of this 15-
year plan.

“The collaboration process to
craft our national plan will be as
important as the plan itself. A
robust collaborative process will
enable us to march together to
that common loftier goal men-
tioned in our national anthem,”
the FNM said.

The proposed unit will co-
ordinate the activities of differ-

ent working groups who will
study and make recommenda-
tions on issues such as educa-
tion, culture, national security,
land policy, economic develop-
ment and so on.

A primary goal of this process
will be “the cultivation and har-
nessing” of “authentic Bahami-
an Imagination”.

The opposition proposes that
the plan will promote human
dignity and secure “the
Bahamian dream for more
Bahamian”; preserve the coun-
try’s natural resources and cul-
tural and historical heritage;
develop the country’s human
resources; and help the coun-



try achieve the UN’s Millenni-

um Development Goals
(MDGs).

Among other things, the

* MDGs include halving extreme

poverty, halting the spread of
HIV/AIDS and providing uni-
versal primary education, all by
the target date of 2015.

Consultation

The FNM said that it will
consult all stockholders
throughout the Commonwealth
including civil society groups,
civil servants, co-operatives, the
church, corporate citizens and

talented Bahamians abroad.

“We will realise the dream of
genuine local government by
making them full partners in the
process of national strategic
planning. We will debate our
future not just around the cabi-
net table and in parliament but
also in our homes and commu-
nity meeting places,” the party
said.

The objective of the whole
exercise, the opposition said,
will be a Bahamas of greater
justice and equality, freedom
and opportunity, safety and
security, and national pride and
confidence. We can seize
tomorrow if we start planning
today.

“When the sun inevitably sets
for one generation, they should
consider themselves blessed if
they have empowered a new
generation to lift up their heads
to the ever-rising sun.

“Because of their tunnel
vision, dismal record and poor
performance, the PLP wants us
to believe that this election is

just about their selective mem-
ory of the past and the ghosts
that belong to that past,” the
opposition said.

By contrast, the FNM said it
understands that this election
is about the Bahamian people
and our shared future.

“In just 16 years — 2023 — we
will celebrate the 50th anniver-
sary of our independence. No
one knows what the political
landscape will look like at that
timé. However, we know that
on some basic issues we must
fashion a national consensus
and practical plans that aren’t
casually tossed aside whenever
a new government is elected,
the FNM said.

Governments, the party said,
waste time, money and other
resources because of a lack of
planning.

“There is too much crisis
management and ad hoc deci-
sion-making. We need to cre-
ate a culture of planning and
forward thinking,” the FNM
said.

Businessman Wilson accuses FNM of
manipulating radio show comments

@ By RUPERT MISSICK Jr
Chief Reporter

WELL KNOWN business-
man and former PLP MP for
Grants Town Franklyn Wilson
hit out at the FNM for what he
described as the “manipulation”
of comments he made during a
radio show.

The comments were later
used to form a significant por-
tion of an advertisement spon-
sored by the FNM.

The radio advertisement has
Mr Wilson praising the FNM
for the establishment of the
Bahamas International Securi-
ties Exchange describing it as
“one of the best things the FNM
did in office”.

Mr Wilson said that the oppo-
sition party deliberately took
the remarks entirely out of con-
text, and “manipulated the
essentials of the points”.

“The basic facts are that hav-
ing encouraged the creation of
BISX, the FNM went back on
it’s word and did not support it,
as the FNM government had
promised to do. It was the PLP
government that helped to save
BISX through increased finan-
cial support and more impor-
tantly through progressive poli-
cies which have led directly to
investors in companies listed on
BISX having accumulated hun-



a FRANKLYN Wilson

dreds of millions of additional
wealth,” he said

While he said that the idea
to create BISX was a good one,
the FNM government having
encouraged the formation of
the exchange, then turned and
did a tremendous disservice to
the entire investing communi-
ty.

As a part of its efforts to pro-
mote the formation of BISX,
Mr Wilson said that the FNM
made certain promises, in terms
of initiatives it committed to
take to help encourage the suc-
cess of the enterprise.

These promises played a sig-
nificant role in causing various
Bahamian companies to put
money into BISX, he said — but
the FNM never fulfilled the key
promises.

“As a result, BISX did not
perform as expected and by
May 2002 had come close to
actual failure. It was left to the
PLP government to save the
enterprise and help to keep
BISX alive,” Mr Wilson said.

The businessman also
claimed that the PLP caused
BISX to become increasingly
relevant because their overall
economic policies created a cli-
mate in which Bahamians who
had invested in companies listed
on BISX enjoyed unprecedent-
ed levels of economic benefit—
17 per cent in 2004, 26 per cent
in 2005 and 34 per cent in 2006.

These benefits, he said, trans-
late into hundreds of millions
of dollars and have been wide-
spread — as 7,000 to 10,000
Bahamians have invested
directly in the companies listed
on BISX and some 15,000 oth-
ers have done so via pension
funds.

“This is a phenomenal record
which could only have been
achieved if Bahamian investors
were satisfied with the future
prospects for companies listed
on BISX; a clear manifestation

Fresh claims emerge in Ricardo
Smith vs John Marquis battle

PROTEST leader Ricardo
Smith, who has been described
by critics as “the ugly face of
the PLP”, has allegedly admit-
ted that the only gripe he has
against The Tribune’s manag-
ing editor is that he is white.

His confession came during
a conversation with a Bahamian
businessman — himself a PLP
supporter — who asked him out-
right what he had against vet-
eran journalist John Marquis,
and what evidence had of him
being a racist.

The businessman told The
Tribune: “He replied that Mr
Marquis had done nothing to
justify his claims. He said the
only problem with the editor
was that he was white.”

The businessman said he felt
compelled to pass on this infor-
mation to The Tribune “because
I can’t stand the kind of fool-
ishness that’s going on at the
moment.”

He was referring to an adver-
tisement placed in the Nassau

Guardian last week by the so- .

called “Concerned Citizens of
the Bahamas” group — led by
Smith - which has been
described by Mr Marquis as “a
crude attempt at character
assassination”.

Guardian readers were so dis-
turbed by the advertisement
that they called the newspaper
asking if it represented their
views.

The Guardian issued a “clar-
ification” on Saturday pointing
out that it was “in no way relat-
ed to this newspaper’s editorial



@ RICARDO Smith

department.”

However, Mr Marquis said
yesterday that he was briefing
lawyers to take action on what
he called “gross and indefensi-
ble libel.”

He added: “It doesn’t matter
whether it was an editorial or
advertisement. The Guardian
published this attack on my pro-
fessional standing and they are
going to pay for it in full.”

Smith has led two demon-
strations outside The Tribune
calling for Mr Marquis to “go
home” because he has taken
exception to disclosues made in
his weekly INSIGHT column.

The editor, however, says he
has more “exciting” revelations
up his sleeve to be published
over the coming wecks.



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PAGE 4, WEDNESDAY, APRIL 11, 2007

EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M., K.C.S.G.,

(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Good news for the environment

THE USS. Supreme Court decision spank-
ing the Environmental Protection Agency
for its refusal to regulate tailpipe emissions

was a tremendous step in the right direction '

for this country.

The justices, in a 5-4 vote, held that the

EPA cannot continue to claim it has no
authority to regulate carbon dioxide emis-
sions, one of the greenhouse gases believed
to contribute to global warming.

The EPA still has an out, unfortunately,
under the ruling. The agency may continue
its hands-off approach to regulation if it can
empitically prove that carbon dioxide and
other greenhouse gases don’t contribute to

. climate change, or explain why it won’t make
that decision.

Call me a cynic, but I imagine some smart
agency attorneys might come up with a way
to make that happen.

Nevertheless, the decision speaks volumes
about the role of the federal government in
addressing the environmental consequences
of our oil-hungry society.

The United States produces a quarter of
the world’s carbon emissions. Much of that
comes from hundreds of millions of tailpipes
on hundreds of millions of cars and trucks.

As jong as we continue to be “addicted
to oil,” to quote President Bush, we’ll have to
accept the consequences.:,

That can be worsening air Balin, health
problems and potentially catastrophic’ cli-
mate change, or it can mean a change in the
way we do business.

After Monday’s ruling, the dominoes have
started to fall.

Shortly after the decision was issued, the
EPA decided to allow California’s request to
set its own fuel economy standards. Until
now, the EPA had argued that only the fed-
eral government had the right to set such
standards.

The ruling also could affect a suit against
California by the auto industry arguing
against new standards.

Believing that human activity has a nega-
tive effect on changes in global climate pat-
terns is not necessary to see the value in this
ruling.

You need only believe that millions of cars
and trucks spewing tons of toxic fumes and
chemicals into the atmosphere isn’t good
and that the federal government should have

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a stronger role in forcing industry to cut
back.

Of course, if you are a naysayer of the
human-activity-as-an-agent-of-climate-
change theory, you may find yourself increas-
ingly frozen out of the debate.

Even Exxon Mobil, the granddaddy of oil
production, has begun to change its tune on
the issue.

First, the company’s foundation cut fund-
ing to a think-tank highly critical of the con-
cept, the Competitive Enterprise Institute.

Then. Kenneth Cohen, vice-president for
public affairs for ExxonMobil, said in a con-
ference that the company has been misun-
derstood on the matter of climate change.

“Many people want to stick us in a bucket
that says we want to deny (climate change).
That is flat wrong,” he said.

Huh?

There are two possible reasons for this
change of heart.

One, Exxon Mobil has realized it can make
a lot of money doing things in a different
way.

And, two, the evidence to support climate
change is irrefutable.

I suspect it’s a little of both.

The Intergovernmental Panel on Climate
Change, a United Nations working group,
released the second-volume of an important
report on climate change last week. The sci-

entists predict that within 25 years, crop fail-

ure and diarrhea-related deaths will threaten
water-scarce nations. Later in the century,
warm seas may lead to shellfish poisoning
and the destruction of coral reefs.

Sea level surges may also submerge small
islands and prompt tens of millions of people
living in coastal cities to seek refuge on high-
er ground.

In what can only be termed a flash of cyn-
ical optimism, Harvard University oceanog-
rapher James McCarthy — who was involved
in a 2001 version of the IPCC report — tried
to put a positive spin on the upcoming analy-
sis.

“The worst stuff is not going to happen
because we can’t be that stupid,” McCarthy
said.

Right?

(This article was written by Rebeca Chapa
of the San Antonio Express-News- c.2007).

A cautiona

THE TRIBUNE







message for
the elections

EDITOR, The Tribune

I WILL appreciate it if you
would give me space in your
paper to publish this letter;
with a hope that some of those
concerned will read it and
maybe it will make a differ-
ence.

The election season is here —

and both major political par-
ties have announced their can-
didates. Everywhere you go the

- topics being discussed are polit-

ical and conclusions are being
drawn in respect to who may
be supporting whom.

So that there is no miscon-
ception, let me say; I have sup-
ported the Progressive Liberal
Party from 1963 and voted for
the candidates of the party in
every election except one,
when I chose to do otherwise. I
make no apology for exercising
my rights of free choice; given
to me by God the Creator and
the Constitution of the
Bahamas.

1 do not support the PLP
because of any handouts or
special personal favours. I
rather support the PLP because
of the party’s philosophy and I
can identify with certain posi-
tions and stance that the
movers and shakers of the par-
ty had taken during years past;
also, because of my real life
experiences during my time of
residence in Nassau and
Freeport. However, while I
support the PLP, I reserve my
free will to agree or disagree
with any individual(s) within
the party or any other parties
as my conscience dictates on
the basis of right or wrong.

lam a native Mayaguanian
who after many years, has
recently returned home.

' Regrettably, upon my return, I

soon discovered that the
uniqueness of which I often
boasted while I was away, no
longer exists. The once friend-
ly, neighbourly, caring envi-
ronment where people took
genuine interest in the well
being of family and friends had
been replaced with separation,
suspicions, malice, greed and
in many instances just plain
hatred. A people who once
would not have eaten a meal
unless it was shared with a rel-
ative or neighbour; to a great
extent, has lost that concern
and caring disposition; and in
most cases have become selfish,
uncaring and greedy.

Lest I be misunderstood, I
thank God that there are still
some genuinely caring people

NOTICE

NOTICE is hereby given that JOEL RENALDO RUSSELL
OF CASCARILLA STREET, PINEWOOD, 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 11th 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 WILSON EDOUARD OF
SEA BREEZE, INSPIRATION 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 11th day of April, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box

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left in this community who
practice good Christian princi-
ples; but, they are so vastly out-
numbered that, that reality
often gets lost.

Just when I thought things
were bad in this regard, it got
worse and from every indica-
tion if something is not done
to reverse this trend, the worst
is yet to come (although I hope
not).

It seems that once the polit-
ical campaigning began and the
politicians started their
rhetoric, life in the Mayaguana
community is like living in two
different worlds. The PLPs and
FNMs seem to have forgotten
that politics in general is not
to be taken personally (unless
you are the subject of a per-
sonal attacked). That everyone
has a right to their political
choice and one’s choice should
not be cause for animosity or
hatred. That two people can
choose politically opposing par-
ties and still remain friends or
at the very least recognise that

there are common interests -

that require all of us working
together and co-operating with
each other in order to get the
best result for all concerned.

However, supporters on both
sides are displaying hostility
and people who once shared
jokes and laughter are now dis-
playing suspicion, anger; and
in some instances, engaging in
hostile confrontations.

Why can’t we as a people
understand that when we
choose opposing parties, right
or wrong, that we are exercis-
ing our God-given free will to
choose which is also enshrined
in our Constitution? That it’s
only one’s expression of confi-
dence in the individual or par-
ty to provide the best repre-
sentation and ultimately the
best Government for the coun-
try (inclusive of all, regardless
of their political persuasions).
So, instead of getting angry
with each other, we ought to
be carefully scrutinising the
individuals seeking to répre-
sent us and satisfy ourselves
that all things considered, we
are making the most intelligent
and best choice.

I take this opportunity to

‘ remind my fellow Mayaguani-

ans that after the election
process is over, the politicians
will leave and return to Nas-
sau, (returning to Mayaguana
enly for the occasional brief
visits); leaving us still having
to live with each other (in this
small community). We must
always be mindful that others
have a right to choose, a right
to share in the economic
opportunities which the island
has to offer and in general a
reasonable expectation of to
be able to earn a living on this
island where they live. Which is
also a part of our Prime Minis-
ter’s stated plan for the Family
Islands.

We must never lose sight of
the fact that God, our Creator
created us for his purpose, yet
He placed within us a free will
to choose whether we will ful-
fill His purpose or otherwise.
Yet, we who are the creation
are demonstrating anger and
hatred toward each other
because we choose to exercise
that God-given free will to
choose. How ironic.

One may ask, what hap-
pened over the years to cause
Mayaguanians to change so
much and may get several dif-
ferent answers; all of which
might have contributed to
some degree. However, I
believe that the main reason is
because Mayaguanians as a
people have allowed politicians
to put us into little psychologi-
cal tunnels and make us believe
that one cannot have associa-
tion or friendship with others
who may be on politically
opposing sides. That, those in
opposition to your particular
choice, must be regarded as
enemies.

That’s not true. Imagine this
scenario; I support the PLP and
my mother supports the FNM

should I regard hes as my éne-

my? Or vise versa? No, ‘God
forbid. Unfortunately, mariy of
my fellow Mayaguanians are
acting this out and it’s tearing
the community apart. We need
the politicians and preachers
to come out with genuine nies-
sages of peace, understanding,
love and mutual respect 'for
each other, which would unite
and strengthen us as a people
(or maybe that does not fit into
their agendas).

I feel that it’s necessary that
the message come from the
politicians because, many peo-
ple believe that the separation,
suspicions and hatred is, what
the politicians want. Personal-
ly, I find it hard to believe that
any politician with the people’s
best interest at heart Would
knowingly or intentionally'tre-
ate or cultivate such an-eAvi-
ronment among the people i in a.
community such as Mayaguana
(or any other place). ,

I invite the politicians to take
the lead in trying to defuse.the
tension that exists in Mayagia-
na. J ask the preachers, because
their messages should always
be inclusive of love and mutu-
al respect. The politician can
start by letting people know
that they are friends with niany
of their political opponeitts.
That they sometimes eat
together, party together and
some of them on both sides of
the political divide are actually
in business together (and very
successfully, I might add). ;,

While I make no apology for
my political choice, I;will
accept or reject any suggestion
on the basis of right or wrong.
We are at a time in our nation-
al life when violent crime is tax-
ing our Law enforcement and
is seemingly out of contiol;
especially among our youhg
people, who, to a great éxtent
seem to be having difficulties
reasoning and understanding
that disputes can be resolved
without violence.

This is a time therefore,
when politicians and all leaders
or persons of influence in our
country should be promoting
peace, love, mutual respect and
understanding: In fact they
should be careful that their
rhetoric does not convey. a.
message which may be intér-- '
preted as advocating extlu-
sions, separation or hatred as
such could only serve to fur-
ther irritate people, resulting -
in further violence. vA

Finally Mayaguanians, there
is so much happening on this
Island right now which require
all of us working together; to
achieve a result that will ‘ulti-
mately benefit all concerned.
Let us therefore strive to recap-
ture the love and care for each
other which we were known
for; and learn to appreciate and
respect each other. Let us seek

to make Mayaguana better for

ourselves, our children, and
their children, now and in years
to come. Don’t allow politi-
cians who come today-and
gone tomorrow rob us ofthe
ability to think for ourselves or
cause us not to demonstrate
love and care for each other:

Let us use the obstacle’ that
besets us today as stepping
stones to elevate ourselves to
bigger-and better things..Let
us meet them together, with
brave hearts, calm minds and
undaunted spirits; for by doing
so we could realise our.full
potentials and achieve good
success as individuals and’asia
community on the whole. ‘J s
know for sure, that weas
Mayaguanians have it witHin
us to succeed and by the grace
of God, we shall.

For the love of God, care-
fully scrutinise and evaluate the
messages you receive from the
politicians or those who come
on their behalf. As for me,,I
will not heed or support any
suggestion that will deliberate-
ly cause separation from: my
family or friends; or that will
seek to separate Us as a peo-

ple. “eh

Fellow Mayaguanians,’ ga
have a choice. Use it wise

HUEL A WILLIAMSON
Pirates Well ve
Mayaguana
March 27 2007 ote!



~ FHE TRIBUNE

vwe

24
se

‘on Banchee.|

agreement with

University of
Johannesburg —

@ By BRENT DEAN

“ye
Sf the Bahamas Janyne Hod-

“der yesterday launched a part-
nership agreement between
COB and the University of
Johannesburg (UJ), which will
lead to exchanges of students

; and faculty between the two

z , institutions.

‘The launch was held at
-“COB, and Ms Hodder was
aeecnonnics by the Vice-

4° chancellor and Principal of the

¢ “University of Johannesburg,

-.9Dr Ihron Rensberg, and his
.gieodleagues Professor John
p;iLynz, Executive Dean, Facul-
oj;ty;of Management, and Andre

‘ viqcMynhardt, Executive Direc-
,» £0Fs School of Tourism and Hos

pitality.

‘sc Ms Hodder stated that the
_ {Partnership agreements signed

‘by the college are not attempts
“ ¥@ seek accreditation by for-

“ en countries or institutions.

ather, she said, these agree-
teat will aid in fostering

»\cross-cultural learning and cul-

° 9tyral opportunities.

Fhrjie’sThe partnership with the
-owuniversity of Johannesburg
.yrallows us to forge links in areas
7 ;ofmutual strength; namely
2 hospitality and tourism, busi-
* nes and education. These con-

. nections extend to linking our
artners in major industries
“<‘inghuding financial services, e-
‘S‘cémmerce and tourism in both
““'éountries. This mutually bene-
ficial partnership will create
- unique opportunities to foster
excellence in our programmes,
to provide opportunities for
yni€FOss- -learning and cross-cul-
ortural experience to enhance
.the learning and research
: , Opportunities we provide to

* students and faculty,” she said.

“Ms Hodder further stated
_ that these exchanges will func-

“*tion as a means of bench-mark-

ing*the standards at the college
“with other international insti-

tutions.
She said: “When our best

\ 1 students study abroad for a
‘. «wemester, we want to know

-r that they continue to excel in
their new context and can

-t-ada t to differences in culture

. an approach of different uni-
¥, -¥ersities.”

»,Pr Rensberg said that agree-

_aieats such as this aid in facili-

jing the mandate of the uni-
nee to "live at the edge of
creativity" and at "the fron-
-°ti€rs of knowledge".
eobDr Rensberg also noted that
*,the: experience the Bahamas
-f'possesses in the areas of
eitqurism and hospitality, make

.-CQB an attractive institution

‘to partner with. In the last 12
_e years, he stated, South Africa

"- has seen a rise from 500,000

_ foréign tourist arrivals, to near-

anh eight million currently.

.However, Dr Rensberg

Namented that most of the high

‘position jobs in the South

African hospitality industry are
* still held by foreigners or white

‘South Africans. The time for
this disparity "is up" he said,
and in an effort transform the

;sector, UJ has sought to cre-
_yate partnerships with interna-
. tional institutions to bolster its

“programmes to further
empower other South
Africans.

"When asked what racial

\gtmosphere Bahamians should
“expéct for when they travel to
vSouth Africa, Dr Rensberg
? stated:

i’ When Bahamian students
de come to South Africa, they
_willfind a highly contested and
~dynamic society with signifi-

pt debate and argument

ut where the country
should be heading and about
who we are as South Africans,"

“he said.

Students selected for the
‘new exchanges will pay their

iition and residence fees at

“their local institutions while
uthey study abroad. And these
) Students will receive full trans-
tfen-credits when they return
home to complete their studies.

i Ms Hodder stated that the col-

lege i is working towards hav-

g,at least one student go to
in Africa as early as the

‘upcoming fall semester.

Dr Rensberg is a former
‘executive at the South African
‘Broadcasting Corporation and
he was also an antiapartheid
activist who was imprisoned
Jwithout trial under the old
dpartheid regime.

Currently, UJ has 46,000 stu-

dents enrolled over five cam-

.puses, including nine faculties.

OG

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anadilenes

@ By ALEXANDRIO
MORLEY
Tribune Staff Reporter

THE BAHAMAS Democ-
ratic Movement is running
nineteen candidates in the
upcoming general election.

The young political party
presented its slate of candi-
dates to the media yesterday
at their headquarters on
Marathon Road.

BDM leader Cassius Stuart
told his members that they
were not here to play politics
or to get fat off the backs of
Bahamian people.

. “We are here for one pur-
pose only, and that’s to secure
the future of the next genera-
tion of Bahamians,” Mr. Stu-
art said.

He said that eventhough the
Progressive Liberal Party and
the Free National Movement
had more campaign money
than the BDM, they had
something that both parties
lack.

“We have character. We
have integrity and the willing-
ness to fight this uphill bat-

_LOCAL NEWS



af BAHAMAS DEMOCRATIC MOVEMENT leader Cassius Stuart speaks yesterday.

Mr Stuart said that the
BDM intends to empower the
masses in the country,

The BDM mission, he said,
is to preserve the land that the
nation’s forefathers had left

tle,” Mr Stuart said. behind.

PLP: anchor project
policy most important
target in the party’s
revolutionary wheel

THE fact that Perry Christie’s approach to governance is trans-
forming the Bahamas “is now an easily verifiable fact” according to
the PLP - thanks to the prime minister’s anchor project policy.

The governing party said in a statement yesterday that Bahami-
ans “are anxiously excited about growing with the PLP into its sec-
ond term as the whole nation unites behind the success and speedy
implementation and progress of the anchor projects”.

According to the statement, an anchor project is “an invest-
ment, that may be foreign or domestically owned or jointly owned
with the Bahamas government in a tourism, industrial or manu-
facturing business enterprise on a Family Island which when com-
pleted will re-energise that island’s economy, modernise its infra-
structure, create new employment opportunities, stimulate new
spin-off and cottage industries and businesses for Bahamians ...”

It went on to say that persons in Nassau who descended from or
simply wish to move to a Family Island will be able to do so with
confidence that “the living standard will be raised and their reali-
sation of the Bahamian dream of equality and opportunity shall be
achieved.”

Even more important, the party said, persons already living on
that island will have direct access to the new economic opportuni-
ties.

“Nassauvians cannot relate to what it is for a 17-year-old girl or
a 16-year-old boy to have to pack up and leave Landrill Point,
Crooked Island to look for a job in Nassau or to go to school.
Often times these young people become extra burdens to their
extended Nassau family. They are abused and used and some-
times the culture shock of the bright light and fast times of Nassau
sends them into a culture shock from which they never recover.”

The party said the policy is “the single most important target in
the revolutionary wheel of the PLP of the 21st century” and that it
will create sustainable development in the Family Islands, and
implement modern infrastructure that connects the nation.

However detractors say the policy was poorly thought out, and
has resulted in approvals for projects that have the potential to dam-
age the environment — in effect destroying the very assets that
draw visitors to the Bahamas.

It has also been pointed out that the investors who have come to
the Bahamas under the policy have promised much, but so far
delivered little — pre-selling much of the land to second home
owners before any construction has begun; doing nothing more, in
effect, than depriving local populations of land on which future gen-
erations would have settled.

Questions have also been raised about the sustainability of the
plan, as seen by the stuttering
start of the Emerald Bay resort
in Exuma — the flagship of the
anchor project plan.

The statement noted that the
opposition FNM has been among
the critics of the policy, has
attacked it as land giveaways,
“and to further confuse the vot-
ing public they are airing radio
advertisement which seeks to
turn this national issue into a
joke.”

“The FNM laughed at the
Royal Bahamas Defence Force
when the PLP established that.
They laughed at National Insur-
ance and National Health Insur-
ance when the PLP established
those important institutions.
They called the Cable Beach
Hotel and Casino a pink ele-
phant when the PLP government
built that to revitalise the tourism
industry on Cable Beach.

“They have the record for
opposing every single piece of
progressive legislation ever
mounted in post Majority Rule
Bahamas,” said the statement.
“The Bahamian people will judge
them harshly for their attack,
opposition, criticisms and
attempts at derailing the progress
of the anchor projects and the
fuller development of this
nation.”

ieee ei:
WEDNESDAY,
APRIL 11TH

6:30am Community Page 1540AM

8:00 Bahamas @ Sunrise

9:00 = Bullwinkle & Friends

9:30 King Leonardo

10:00 The Fun Farm

11:00 Real Moms, Real Stories,

Real Savvy

} 11:30 International Fit Dance
noon ZNS News Update

12:05 Gospel Aficionado

1:00 — Legends: Carlton Harriss

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

16:00 A Special Report

6:30 News Night 13

7:00 — Bahamas Tonight

8:00 Rescue

8:30 My Home

9:00 The Human Senses

10:00 Caribbean Newsline

10:30 News Night 13

11:00 The Bahamas Tonight

} 11:30 Neo Soul Café

1:30am Community Page 1540AM

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






































“The Bahamas will not be
a nation for sale. We will not
sell out land. We will not sell
our country to the highest bid-
der,” Mr. Stuart said.

He said that the Bahamas
Democratic Movement was
the only one real option in this
general election.

“The FNM is the PLP and
the PLP is the FNM, because
there is no difference between
the PLP and the FNM,” he
said.

He told the candidates that
they were part of the solution
that will mend the fabric of
the nation together.

The BDM leader said that
his party has been the only
political group in the country
which has suggested solutions
and debated on real issues for
the past seven years.

He said that only the BDM
could take the Bahamas to the

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promise land.
“Joshua is here,” he said.
Mr Stuart said that he is

looking forward to the gener-

al election approaches, and

announced that all of the can-

didates would be victorious.
The list of candidates is as

follows:

Dwayne Gibson -

Bain and Grants Town

Omar Smith -

Bamboo Town

Dion Stuart -

Blue Hills

Tolonus Sands -

Carmichael

Bernard Rolle -

Elizabeth

Cortez Turner -

Englerston

Sidney Carroll -

Fort Charlotte

Kermit Agaro -

Fox Hill





Cassius Stuart -
Garden Hills

Christopher Aaron Cox -
Golden Isles

Omar Archer -
Kennedy

Winsome Miller -
Marathon

Harry Lewis -

Mount Moriah
Demetrius Frazer -
Pinewood

Laurette Jose-Dean -
St. Thomas Moore
Roderick Brown -
Sea Breeze

Jermaine Higgs -
South Beach

Ural Pratt -
Yamacraw

Jeffrey Carroll -

North Andros
and Berry Islands

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PAGE 6, WEDNESDAY, APRIL 11, 2007



LOCAL NEWS

Archbisho p says develo pment

THE TRIBUNE

TR Os ROR DL



projects are issues in election |



ADDRESSING voters as the
next general election draws
near, Archbishop Patrick Pin-
der of the Catholic Archdiocese
of Nassau in a letter urged
Bahamians to cast their ballots
carefully and to consider the
consequences of the numerous
development projects happen-
ing in all of the country’s
islands.

In his pastoral letter in prepa-
ration for the 2007 general elec-
tion issued on Easter Sunday,
Archbishop Pinder expressed
serious concern about the
impact foreign investment pro-
jects could have on the Bahami-
an lifestyle.

“Recently, we heard of leases
being granted to energy com-
panies to explore for oil on the
Bahama Banks, a development
that raises concerns among
those who care about preserv-
ing the quality of our environ-
ment. The fears have been as

Police prepare for

@ By ALISON LOWE
Tribune Staff Reporter

THE Royal Bahamas Police
Force has been realigned with
senior officers. taking up posi-
tions “in the front line” in
advance of the upcoming gen-
eral elections.

Speaking at Police Head-
quarters, newly appointed
Senior Assistant Commission-
er in charge of crime Elliston
Greenslade said that police
want to ensure that the tradi-
tion of peaceful elections in the
Bahamas is upheld.

“We are preparing for gen-
eral elections in this country and
we want to keep this tradition in

~~ ensuring the people can go

about their business in a safe
‘manner, ‘that‘they can have

+ healthy debate and discussion

without any abuse of privilege
and that-it is done:in.a democ-

ratic framework,” he said.

The House of Assembly was
dissolved last Wednesday by
Commissioner of Police Paul
Farquharson.

Mr Greenslade said that
police resources have been
directed “onto the streets” at
this time.

He as well as other senior
officers will be seen “pounding
the beat” in the run up to and
during polling, he said.

Speaking more generally, but
equally emphatically, about
changes that have and will take
place within the force subse-
quent to having taken charge
of the crime portfolio last
Wednesday, Mr Greenslade
said that he was there to offer
“assurances” to the Bahamian

“people.

“We are in the service deliv-
iery business: and we shall con-

-Sistently deliver care, respect

and trust to our people wher-
ever they are in the Bahamas,”
the assistant commissioner told
assembled members of the
press.

“My message is very clear,”
he said. "We have come to you
with clean hands, and a willing-
ness to serve; an ability to serve.
Please call us, test us, and prove
us, we are willing to do the busi-
ness and we are asking you to
then repose your confident and
trust in us.”

Mr Greenslade said that he
has “no sympathy for anyone
in law enforcement who breaks
the law,” while James Carey,
Assistant Commissioner in
charge of uniformed officers,
said that a recent promotion in
the Complaints and Discipline
unit. will ensure that complaints
against officers are dealt with
even more efficiently.

Greenslade said that he also

CFA Society of The Bahamas

2006/2007 Officers & Directors

President

David Slatter, CFA

Fidelity Merchant Bank & Trust

PO Box N-4853, Nassau, Bahamas

Fh: (242) 356 7764

Email: david.slatter(@ fidelitybahamas.com

Vice-President

Kristina M. Fox, CFA.
Templeton Global Advisors Ltd.
PO Box N 7759, Nassau, Bahamas
Ph: (242) 362 4600

Fax: (242) 362 4308

Email: kfox@templeton.com

Treasurer

David Ramirez, CFA
Pictet Bank & Trust Ltd.
PO Box N-4873

Nassau Bahamas |.
Ph: (242) 302 2217

Fax: (242) 327 6610
Email:dramirez@pictet,com

Secretary

Christopher Dorsett, CFA

Citigroup Corporate & Investment Bank
PO Box N 8158, Nassau, Bahamas

Ph: (242) 302 8668

Fax: (242) 302 8569

Email: Christopher.a.dorsett@citigroup,com

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great, as we confront the possi-
bility of a liquefied natural gas
plant being established on one
of our northern islands,” he
said.

Every other month, the Arch-
bishop said, “we hear of gov-
ernment giving approval for a
new anchor project, which will
inject millions of dollars in for-
eign investment into our econ-
omy.

“While we celebrate the job
creation potential of such ini-
tiatives, we are deeply con-
cerned that these massive intru-
sions of foreign lifestyles can do
great harm to the traditions,
social structure and culture of
our Bahaman way of life as we
know it,” he said.

Archbishop Pinder further
said that every day seems to
bring news of crimes that are
increasingly devastating.

“Very shortly, thousands of
Bahamian citizens will be going

allots

hopes the public will become
more confident and forthright
in providing information to the
police about crimes over time.

“I do believe there are per-
centages of our population
who have reservations, but if
we get it right I believe the
floodgates will open, we'll get
the information that we need,
and we'll have the full support
of the Bahamian people,” he
said.

“Co-operation will come by
demonstrating that we are say-
ing is not mere rhetoric but that
we are truly serious about the
business and we are in fact
doing it.

“And by proving that you can
repose your confidence and
trust in us as a law enforcement

“agency, and we will not betray

it; people will come to accept
that again,” Mr Greenslade
Said.









to the polls to choose the men
and women who will form the
government of the Common-
wealth of the Bahamas for the
next five years. This circum-
stance gives rise to a vital ques-
tion in the minds of many: What
should the role of responsible
citizens be at this dynamic and
life changing time in our histo-
ry? In the face of the many deci-
sions that Bahamians are being
called to make, what criteria
should be the basis of our choic-
es?” he asked.

The Archbishop said that it
is now time for Bahamians to
engage in “the most important
exercise of any democratic
nation.”

“We must exercise the privi-
lege of electing the men and
women who will form the next
parliament with the mandate to
govern our commonwealth.

“Those whom we elect to
govern us are a true reflection

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of the basic values we hold near |- -

and dear to ourselves. This is

an exercise that we dare not -,:

take lightly. We must approach
it with full seriousness, much
thought, much prayer and radi-
cal honesty. Our country is
experiencing great change at.’
this time,” he said in his letter.. °

Archbishop Pinder said that
the pastoral letter is being
offered as an aid to clarifying
some of the issues that surround
the general elections. He said
that the Catholic Church con-
siders registration and voting to
be “the moral obligation of a
responsible citizen.”

“It is our duty to answer the
call to full, active and conscious
citizenship and thus promote
the common good. That is to
ensure the necessary social con-
ditions that allow people to
reach their full human poten-
tial and to realise their human
dignity,” he said.














@\

*
Â¥ xy
.



THE TRIBUNE

LOCAL NEWS

WEDNESDAY, APRIL 11, 2007, PAGE 7







Ss SS S . SS SE SW ESNS
@ CRANES are seen working on the cay

Protest as c







@ CRANES work ona ramp collecting the boulders

ranes transport

sand — from Salt Cay







CONCERNED residents are
protesting over the removal of
sand from beaches at Salt Cay,
otherwise known as Blue
Lagoon island.

Bargeloads of sand are being
moved every week, creating a
“hole” which, protesters claim,
will suck sand from Paradise
Island in a few years’ time.

A Bahamian environmental-
ist who went out by boat to the
site over Easter said a crane is
hauling sand off the south side
of the cay.

“Every day for more than a
week, bargeloads of precious
sand have been removed from
the south side of Salt Cay, a
mile away from the beaches of
Paradise Island,” he said.

“History shows that in ten or

@ BOULDERS on the north side of the island



@ THE view from the clubhouse is marred by piles of rubble

20 years, sand from these beach-
es will be sucked away to fill
the hole being made today. As
examples of this, look at Mon-
tagu Beach and western Cable
Beach.”

The source said a ramp had
been made over the island, and
hundreds of boulders stored on
the north beach.

“T judge that some have
already been taken to the small
bridge joining the two islands,

but I know not why. The first
hurricane. will throw them
against the bridge and destroy
it,” he added.

This was the second major
sand removal exercise on the
cay in four years, he said.

Yesterday, The Tribune tried
unsuccessfully to find out who is
removing the sand.

e As The Tribune was going
press yesterday, the cranes were
reported to have left.

a year in Grand

@ BERNARD fottage





@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT —- About 100
new HIV/AIDS cases have
been recorded every year on
Grand Bahama for the last sev-
en years.

This was revealed during,the
opening ot World Health
Month in Freeport last weak.

Minister of Healthbisbr
Bernard Nottage, in his address,
reported that 632 new cases
were recorded on Grand
Bahama between 1999 and
2006.

*That is just around 90 a year
in Grand Bahama, and we all
know that up to December 31,
2005, we had over 10,000 cases
reported in the entire
Bahamas,” he said.

Dr Nottage said that the
country’s statistics on
HIV/AIDS, diabetes, hyper-
tension, and other preventable
communicable and non-com-
municable diseases, are cause
for great concern.

He noted that the govern-
ment spent in excess of $10 mil-
lion for medication to treat
patients on dialysis, and med-
ication for patients with heart
disease, hypertension, diabetes,
and HIV/AIDS during 2006.

According to Dr Nottage,
about 15 per cent of patients
seen at community health clinics
in Grand Bahama suffered from
hypertension and diabetes.

During the same period, the
Rand Memorial Hospital saw
264 admissions and 41 deaths
relating to these diseases.

“Too many are on a collision
course with disease, disability
and even death, as a result of

Nottage warns Bahamas
must be ready for threats
from outside region

THE Bahamas is vulnerable
to international health threats
that are not endemic to the

region, according to Minister of

Health Dr Bernard Nottage.

These include tuberculosis,
malaria, HIV/AIDS, avian
influenza, SARS and other
communicable diseases.

Dr Nottage noted that at the
recent Bahamas Outlook 2007, a
major investor emphasised the
need to recruit workers from out-
side of the Bahamas to fill jobs.

“When we bring in workers
from abroad to the Bahamas,
they come with their own health
issues. And we believe that
when we experience the malar-
ia epidemic in Exuma that’s
how we golit it was brought
in from outside.

“Tt is very important for us

to understand how important
being in concert with interna-
tional health regulations and
ensuring that we have the
means of prote cling, the coun-
try’s citizens,” he said.

Lynda Campbell, Pan-Amer-
ican Health Organtsation/World
Health Organisation represen-
tative for the Bahamas and the
Turks and Caicos, said that their
objective is to have all health-
care facilities in the region oper-
ate in accordance with interna-
tional health regulations by
2016.

Dr Nottage said that the min-
istry’s policy on public health ts
party guided by the Interna-
tional Health Regulation (2005)
which takes effoect on July 15
2007.

He said the main objective of

the IHR is to protect against,
control] and respond to the
international spread of disease
while avoiding interference with
international traffic and trade.

Dr Nottage said that the
Bahamas is among over 140
member countries of WHO that
have already established nation-
al JHR focal points.

He added that the multi-sec-
toral national IHR Working
Group has been established in
the Bahamas and is engaged
in the development of a
national response plan, which
has a strong port health sur-
veillance component and
includes response strategies for
control of avian influenza, pan-
douite influenza, SARS, yel-
low fever, and other emerging
diseases.

illnesses that quite often can be
controlled, reversed and altered
by healthy lifestyle changes,”
he said.

Dr Nottage revealed that
Bahamians are now experienc-
ing renal failure on a daily basis.
“We cannot provide access to

, dialysis for Bahamians patients

today in our system,” he
warned.

In response to these alarm-

ing statistics, the Ministry of
Health has established the
Healthy Lifestyle Initiative to
combat the prevalence of pre-
ventable chronic non-commu-
nicable diseases among Bahami-
ans and healthcare workers.
Dr Nottage said World
Health Day, which is observed
on April 7 each year by the
World Health Organisation,
focuses on-gtabal health issues

and challenges every nation to
embrace progressive solutions
to preserving the future of the
world.

This year’s theme, “Invest in
health, build a safer future” is
intended to provoke the busi-
ness community, health work-

. ers, civil society, government,
: and people around the world to

give priority to international
health security,” he said.

British Colonial Hilton

Nassaut

The British Colonial Hilton invites applications for aynaniee. confident and
assertive individuals to fill the following positions:

Catering Sales Manager: This position is responsible for supervising, managing,
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Computer literate and proticient in the use of Microsoft Excel and Word
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Beenie practical iow ledge of cooking styles and various cuisine including Continental,
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Deadline: April 20, 2007



~ dae

PAGE 8, WEDNESDAY, APRIL 11, 2007

THE TRIBUNE





€omplex history of the Rum Cay dispute

A landmark ruling has
been made in one of

two injunctions filed by promi-
nent Bahamians over the past
year in an effort to stop foreign
speculators from carving up and
selling thousands of acres of dis-
putéd land on the 45-square-
mileisland of Rum Cay.

The land wars have fueled a
controversy that involves polit-
ical Pee Nassau lawyers
(on'both sides of the fence), the
formerly enslaved inhabitants
of-Rum Cay, wealthy second
home owners, and a bevy of
on and local fortune seek-

- 'March 26 ruling by
Supréme Court Justice Jeanne
Thotipson extends one of the
injitictions and awards costs to
attgtney Craig Butler, a grand-
son’of the late governor-gener-
al Sir Milo Butler, who is rep-
res@pting the family’s claim to
merte-than a thousand acres in

’ the west of Rum Cay.
‘he ruling also appears to
validate the Butler claim, mak-
in¢ more difficult for other
clafititints. Rum Cay has been at
th®tentre of a maze of com-
® péting land claims in recent
years, with several develop-
mets underway — some spu-
ripus,-some real.

as Sar

st he American defen-
‘ l dants in the Butler
infuhétion (Island Acquisitions
atidMiami lawyer Jorge Diaz-
Cito) were represented by
former attorney-general Carl
Bethel. They have until mid-
Apritto lodge an appeal against
Justice Thompson’s ruling.
_“Ksfand Acquisitions was

brane

Jorge Diaz-Cueto is a director.
Al&d cited as defendants by the
Biter injunction are Raymond
anhti’Merrill McDonald, who
wefé “friends and companions”
of the late Effie Knowles, a
Florida attorney of Bahamian
deséént who claimed an estate
of-some 12,000 acres in the

Bahamas — including big chunks
of Rum Cay —— at the time of
her 1984 death in Miami.

The McDonalds supposedly
inherited these lands from Effie
Knowles, and a few years after
her death they sold all of them
to a Bahamian company called
Newport Harbour — which is
also represented by Carl Bethel
— for $180,000. Then, in 2002
the McDonalds resold 2000
acres in the southwest of Rum
Cay (which Effie claimed to
own) to Island Acquisitions for
$128,000.

Island Acquisitions claims to
be a purchaser for value of the



which is near the family’s orig-
inal home in Blackrock —
pending a title quieting by the
Supreme Court.

Island Acquisitions sought to
have the injunction dismissed,
but the March 26 ruling by Jus-
tice Thompson denies this. Her



Rum Cay has been at the cen-
tre of a maze of competing
land claims in recent years,
with several developments
underway — some spurious,

some real.



-Rum Cay land based on a May

10, 2002 title report by Vincent
Peet and Co, which starts with
the will of Effie Knowles.

The plaintiff in this dispute
is Raleigh Butler Sr, owner of
Butler’s Funeral Home and
eldest son of Sir Milo. He traces
his claim all the way back to a
1790 Crown grant to one
Thomas Fraser. The land was
conveyed in 1882 to James Cul-
mer and (an earlier) Milo But-
ler as tenants in common, and
there has been no subsequent
conveyance away of the land.
The plaintiff is the great great
grandson of the original Milo
Butler.

[Ts Butlers filed for an
injunction in January
2006 to restrain Island Acquisi-
tions from “selling, advertising,
subdividing, trespassing, inter-
fering, excavating and/or deal-
ing with” the Rum Cay land —

ruling also states that docu-
ments produced by the plain-
tiff “on their face show a clear
line of title from the con-
veyance to the first Butler and
Culmer to the plaintiff and oth-
er members of the Butler fami-
ly.

Justice Thompson also not-
ed that the defendants “have
not produced any evidence of
having obtained subdivision
approval to do the works on
which they are allegedly
embarked and there is evidence
produced by the plaintiff that
such approval has not been
granted...I note that several lots
have been sold, and, if (Island
Acquisitions) should not suc-
ceed (in the quieting action),
these sales and subsequent
sales, should the injunction be
lifted, could result in much neg-
ative publicity for the
Bahamas.”

Justice Thompson issued
another injunction last Novem-

TOUGH CALL

ber to stop the sale and/or sub-
dividing of a 67.5- acre piece of
vacant land known as Murray’s
Camp, and another 15.5-acre

‘tract — both to the east of Port

Nelson on Rum Cay.

Richard Lightbourn of McK-
inney, Bancroft & Hughes had
filed for the injunction on
behalf of a Bahamian compa-
ny called Tara Ltd. His appli-
cation was based on Certificates
of Title obtained from the
Supreme Court in 1988,
through descent from one Mary
Dorsett. Tara is owned by the
MacTaggert family of Nassau.

he judge’s order pro-.
hibits the defendants

from trespassing on the land,
or holding themselves out as

Rum Cay Ventures filed a
counterclaim seeking to haye
Tara’s 1988 Certificates of Title
set aside, on the ground of
fraud: A ruling on this dispute is
still pending.

At least two of the specula-
tors have been in financial trou-
ble with the law in the United
States. It is difficult to under-
stand how the government can
allow such persons to enter the
Bahamas and do business, par-
ticularly when the business is
the sale of disputed Bahamian
land to unsuspecting foreign
buyers, which — as Justice
Thompson says — can only
damage the country’s reputa-
tion.

Aen to lawyer
Craig Butler, the

speculators are engaged in a
process called flipping: “They
are trying to claim title by sell-
ing lots as rapidly as possible,
but the basis from which they
all start is simply wrong.”
And that basis is Effie
Knowles, whose grandfather —
James Alexander Knowles —



It is difficult to understand
how the government can allow
such persons to enter the
Bahamas and do business,
particularly when the business
is the sale of disputed
Bahamian land to
unsuspecting foreign buyers.



having an interest in the prop-
erty. Among those restrained
by this injunction are Mike
Fothergill, Rum Cay Ventures,
Billy Wayne Davis, Newport
Harbour, Bobby Little and Bob
Pope (former owners of the
Sumner Point Marina on Rum
Cay).

was born on Long Island in
1839 and moved to Key West.
Her mother — Julia Dorsett —
was born in Nassau and also
moved to Key West, but her
father was Joseph Lake Dorsett
— who was a prominent
landowner on Rum Cay.

Effie began tracing her estate

in the early 1960s. Her starting
point was the will of an uncle —
Percival Dorsett — who was
supposedly the last white
Bahamian on Rum Cay when
he died in 1940. The lawyers
who worked on Effie’s project
in the early years included
Carey Leonard, William
McPherson Christie, Jerome
Pyfrom, William Holowesko,
Useph Baker and Dawson
Roberts.

In a 1962 letter to one of her
relatives Effie wrote about the
project: “I have made five trips
to Nassau...We are getting
ready to clear the title to 1400
acres of land inherited from the
Dorsetts on Rum Cay, also
lands inherited from my father’s
family.”

E another letter she dis-
cussed the value of Rum
Cay property: “The salt pans
were built at great cost and
lined with solid flint rock, and
even though now in bad repair
even a small acreage is worth
money. My great grandfather
built them at a cost of $1000 an
acre and developed some 200
of the 900 acres...He also had a
cattle ranch on some 1400 acres.

But many experts are scepti-
cal of Effie’s complex title
chain, pointing out that she was
an American citizen and that
lots of things could have hap-
pened over the years to affect
her claims — such as non-pay-
ment of taxes. It is this uncer-
tainty that has fueled the con-
flicting claims-of foreigners on
Rum Cay.

The last major title quieting
legislation in the Bahamas was
passed 47 years ago and
although there has been talk of
a new land law to provide for
absolute title, nothing has been
done to achieve this by any gov-
ernment.

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

a ecnceangeeqeeececscccccscccesececsseececsserecesecacesenscesececneeseeeebeeseeeeeseenensee esas en anaseeeaenea esse Gene eeenee see ne ee ne es ea Re De nseeeeeeaesen snes as en eens neenensnenenecnaesesnsasaseuesucnscssesssacnsncaeusacesaccersnsnusetasereresesetereenenseeneneseseseneseseceeececnsseneneasaensaeaenssesecesesesesnanenessenenaneneneasseasaranasseaesasereassesnsnensssaceasnsasnenenacanaseceseseseseseseres seen ees

Effectiveness of d

I Sy NT

FINANCIAL INTELLIGENCE
UNIT (THE “‘FIU”’)

en
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thu Pp
wis

c.
wits

Be
VAL

”
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BLI I

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“Pursuant to Section 15(2) of The Financial Intelligence Unit

“Act, 2000, the public is hereby notified that, the revised

Suspicious

Transactions

Guidelines

Relating to the

Prevention of Money Laundering and the Financing of
Terrorism (The ‘‘2007 Guidelines’’) for financial institutions
within The Commonwealth of the Bahamas have been issued
‘and are effective as of 19th March 2007.

The 2007 Guidelines replace those Guidelines issued in

December 2001.

Copies of the 2007 Guidelines can be obtained between the
hours of 9a.m. to 5p.m. Monday through Friday, from the
Administrative Offices, The Financial Intelligence Unit, 3rd
Floor, Norfolk House, Frederick Street, Nassau, The Bahamas.

Anthony M. Johnson

Director

Financial Intelligence Unit
P.O. Box SB 50086
Nassau, The Bahamas



en

@ By PETER YOUNG

THE ending of the standoff
over Iran's arrest and detention
of 15 British sailors and marines
has inevitably provoked fierce
debate about how a satisfactory
outcome without bloodshed was
achieved. It has also focused the
world's attention again on the
whole issue of US and British
military involvement in the Per-
sian Gulf region and, in partic-
ular, the disastrous venture in
Iraq.

It is clear that skilful, behind-
the-scenes diplomacy (with no
obvious concessions being
made) worked effectively in
defusing a volatile and danger-
ous situation. Contrast that with
the bellicose noises from hard-
liners in Washington and else-
where advocating the 'nuking'
of Iran. Their idea of diplomacy
seems to be to bludgeon an
adversary into submission with-
out heeding the likely adverse
reaction and consequences. We
can all be grateful that the inci-
dent did not create the spark
that widened, irretrievably, the
current conflict in the Middle
East.

Some of those calling for an
apparently tougher response
from the British government
cite Lord Palmerston's gunboat
diplomacy of the 19th century
and the many instances of ruth-
less British responses to rebel-
lion, mutiny and hostile resis-
tance to colonial rule. The tales
are legion — the Indian mutiny,
the Boer war, the Boxer rebel-
lion, the reaction to the murder
of General Gordon of Khar-
toum, punitive expeditions
against the old kingdom of
Benin in Nigeria and during the
Zulu wars, to name but a few.
However, these were from a dif-
ferent era when Britain's power
was at a peak and she had the
will and means to dominate in
countries where, in many cas-
es, she already exercised con-
trol. Critics also cite the reac-
tion of the Iron Lady, Margaret
Thatcher, to Argentina's inva-
sion of the Falkland Islands in
1982 and contrast that with
prime minister ‘Tony Blair's sup-
posed pusillanimous response
to the Iranians.

These comparisons are wide
of the mark. Britain is not at
war with Iran and that nation
has not invaded British territo-
ry as Argentina did. The Royal
Navy is operating in the Gulf
legally under a United Nations
mandate with careful rules of
engagement; and, even though

iplomacy in freeing British hostages

Y O U BR nnn... ...

OP

the sailors were correctly in
Iraqi waters, it is well known
that there are uncertainties and
disputes about the territorial
waters in the area.
Nonetheless, the unprovoked
hostile action of the Iranians
was unacceptable. In order to
solve the immediate problem
of securing the hostages'
release, it was essential to avoid
inflaming the situation by blus-
tering, overreacting and threat-
ening the use of force. What
was needed was a calm and
measured approach of patient
dialogue: in other words, the
exercise of diplomacy to pro-
vide the Iranians a ladder down

AGG



which to climb while at the

same time implying that there
was sterner international action
(sanctions and other restric-
tions), short of military force,
which could be taken.

Some say that that amounted
to appeasement which, since the
Munich crisis of 1938, has
become a pejorative term
meaning craven weakness. But,
in the right context, appease-
ment — defined by noted
British historian AJP Taylor as
an attempt at conciliation and
agreement — can be an appro-
priate response. In this case, the
Iranians were in control of the
situation and the use of armed
force rather than diplomacy
would have been counterpro-
ductive and disproportionate.

That does not mean that
Britain should treat lightly, in
the wider context, the threat
Iran poses to world peace by its
intervention in Iraq and its
declared intention to destroy
Israel. Nor can the West sit by
and ignore Iran's development
of nuclear power which could
lead to nuclear weapons being
in the hands of an unstable and
divided regime. lran must com-
ply with UN Security Council
resolutions and suspend urani-
um enrichment.

Now that he has achieved
the release of the hostages, Mr
Blair has reiterated publicly that
there are elements at least of
the Iranian regime that are
backing, financing and arming
terrorists in Iraq. The US and
Britain need to react strongly
and the military option will

INION



remain in the back of every-
one's mind. However, follow-
ing the calamitous failure in
Iraq, does anyone now believe
that an invasion of Iran, an oil
rich nation of some 70 million
people, would be anything but
extreme folly? Firm and sus-
tained diplomatic pressure in
relation to Iran's involvement
in Iraq and its possible devel-
opment of nuclear weapons is
the only way forward.

Controversy over the
hostage incident will continue.
A row has developed over the
hostages selling their stories to
the media, and their public
demeanour has been ques-
tione in particular, whether
they were too enthusiastic,
cooperative and grateful to their
captors instead of sticking to
the traditional “name, rank and
number” response; though it
has become clear from their
own evidence that they were
put under considerable duress.
What will surely now follow will
be an investigation of the Roy-
al Navy's operations in the Gulf
and its rules of engagement in
order to try to avoid any repe-
tition.

Far from Britain being
humiliated, it was the Iranians
who backed down relatively
quickly in the face of diplomat-
ic pressure. This was in marked
contrast to the prolonged US
embassy hostage crisis in
Teheran in 1979. In the words
of one commentator, Iran has
shown itself again to be ambi-
tious, dangerous and menda-
cious with a divided leadership.
This is all the more reason for
treating it with extreme care
while recognizing Churchill's
famous dictum that to jaw-jaw is
always better than to war-war.

In the aftermath, let us hope
that there will also be a hard-
headed review of Britain's role
in the region and, in particular,
whether the presence of her
troops in southern Iraq is exac-
erbating a perilous and unsus-
tainable situation. Such a
reassessment is surely overdue.



(Peter Young is a former
British High Commissioner to
the Bahamas).



THE TRIBUNE

WEDNESDAY, APRIL 11, 2007, PAGE 9



Darold Miller
stages one-man

protest outside
of Gems FM

FROM page one

water logos on them, and
a representative from the
Coca Cola company —
which also owns Dasani
water — later arrived in the
area and forced their
removal, according to
sources.

Reports of sexually-relat-
ed complaints made against
Mr Miller were published
in The Tribune on Satur-
day, March 24.

Police confirmed that the
complaints were made by
three women.

Subsequently, Mr Miller
delivered a letter to The
Tribune in which he stated
that he is “innocent of any
suggestions of impropri-
ety."

Mr Miller went on to
state that he was "mysti-
fied" by the reports pub-
lished in the newspaper.

"Obviously whatever
complaints have been
brought against me are
false," Mr Miller said yes-
terday, when asked to com-
ment on the significance of
his protest..

Meanwhile, another
radio show, "The Way For-
ward", presented by
Michael Pintard, was
broadcast today in the
1llam-1pm slot which Mr
Miller's boisterous talk-
show previously occupied.

"He did say he is only sit-
ting in," said Mr Miller of
his replacement. "It is my
wish that within the next
eight days or so that this
matter will be resolved and
I will be back on air."

Mr Miller said he is "con-
fident that with God's
help" he will be vindicat-
ed.

"I am lifting my eyes to
the hills from whence
cometh my help, my help
cometh from the Lord," he
said.

New crime
chief: more
senior officers

on front line
FROM page one

expect to see more senior
officers on the front line
of the fight against crime.

Additionally, the new
crime chief stated that
under his watch, retired
and former officers in
good sianding, will be con-
sulted in order to use their
expertise in creating
strategies to reduce the
crime rate.

"We are also bringing
on board former officers,
wherever they are in the
Bahamas, who still have
an interest and are police
officers for life. We are
bringing them on board
and we're listening to
what they have to say," he
said.

The tough talking crime
boss also said he "will
have no sympathy for any-
one in law enforcement
that breaches the law, and
is not a part of what is pos-
itive and good in this
country."

Mr Carey, head of the
New Providence district,
assured the public that the
police have currently
realigned their resources
to create a new synergy
and commitment to crime
fighting.

Mr Carey also stated
that he, Mr Greenslade
and the new crime team
will be accountable to the
public, while noting that
scourge of violent crime
can ultimately threaten
the livelihood of the coun-
try.

"If it continues,
undoubtedly, it's going to
have a negative impact on
the economy, it's going to
have a negative impact on
the society as a whole, and
we want to say 'we are
here’ to you, to make rep-
resentation to members of
the public that we will do
our best to address these
issues," he said.



‘No health risks’ for homeowne



in eastern Shirley Street area

FROM page one

refurbished and that during this
process some spillage of petro-
leum into the ground water has
and may again occur.

“We are aware that on occa-
sion there has been some petro-
leum product that may have
spilled into the ground water,
but they (Chevron) have moved
immediately (to absorb) the
petroleum chemical and con-
tain it and remove it safely as
well.

“There is no danger for the
residents in the area,” he said.

Concerned members of the
public have contacted The Tri-
bune in the past week express-
ing fears regarding the refur-
bishment of the Chevron sta-

tion on Shirley Street, stating
that “strong odours” were ema-
nating from the site and that
they witnessed workers wear-
ing protective clothing resem-
bling “Hazmat suits” attending
to the station.

Some callers said that they
were afraid that gasoline from
the station’s underground stor-
age tanks was leaking into the
ground water.

“People in that area have
wells, they should be told what
is going on. That area floods
easily when it rains, if you have
contamination in the ground
when it floods that contamina-
tion is in the water that you
walk in, the water you drive in,
it splashes on your cars. The
Bilney Children’s Home is only
a block away,” one concerned

resident said.

Other callers complained
about the “toxic” smell that was
coming from the station, which
could reportedly sometimes be
detected as far away as “Star
Bucks in Palmdale.”

Speaking with The Tribune
yesterday, Armando Vegas,
retail district manager for
Chevron Bahamas, explained
that an environmental clean-up
— authorised by the Department
of Environmental Health — is
currently taking place at the
Shirley Street station.

“We are replacing the tanks,
we're cleaning up any haz-
ardous materials that need to
be removed,” he said.

Chevron, Mr Vegas said, is
removing the existing under-
ground tanks which are used for

Birkhead is baby’s father



Dannielynn.

press.

said.

harm to the child.

alone,” he said.

on Friday.



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.

@ LARRY BIRKHEAD outside of court yesterday.
FROM page one

Baird, the DNA results confirmed, with 99.9 per cent
accuracy, that Mr Birkhead was, in fact, the father of

“Larry was determined to be the biological father based
on the DNA testing. He had a combined paternity index
of over 11,515,000. Or a probability paternity of over
99.999 per cent,” Dr Baird said.

Obviously upset at the announcement, Howard Stern
slumped to the platform some minutes later to address the

“TI want to say that I am obviously very disappointed.
But my feelings for Dannielynn have not changed. I am
not going to fight Larry Birkhead on custody. We are
going to do what we can to make sure that the best inter-
ests of Dannielynn are carried out. And I’m going to do
whatever I can to make sure that he gets sole custody,” he

Mr Stern said that he hopes there will be a gradual
transition of stewardship of Dannielynn so there is no

“As far as me staying in the Bahamas, I will stay in the
Bahamas regardless. I will not leave Anna or Daniel

Mr Stern said the whole event had been “very diffi-
cult” for him, claiming the media had been very irre-
sponsible, even at times malicious. This, he said, would be
dealt with at another time.

Virgie Arthur, Anna Nicole’s mother and the grand-
mother of Dannielynn, said she was extremely pleased that
Dannielynn will know who her “real father” is

“It’s been like a rollercoaster. We’ve lost a grandson,
ya'll please don’t forget that,”

The custody battle continues before the Supreme Court

Share your news

| The Tribune wants to hear









she said.














MARINE NAVIGATION
COURSE

In a nation of islands it is essential to be
able to navigate over the horizon with
confidence. Prepare for safe voyaging by

enrolling in the Terrestrial Navigation
Course offered by The Bahamas School
of Marine Navigation. Plan to attend the
free first class on Monday, April 16, at

7 p.m.
East Bay Street.
(242) 535-6234

at BASRA Headquarters on
Details:

364-2861 or
































ae

‘we a
Qe

storing gasoline and diesel and
replacing them with new tanks.

“Before putting in new tanks
we have to make sure the place
is clean,” he said.

Mr Vegas emphasised that
the clean-up presents no dan-
ger to any of the residents of
the area.

He said that work on the sta-
tion is expected to be complet-
ed within the next month.

Mr Pinder added that the
exercise is being supervised by
the Department of Environ-
mental Health Services and
explained that the odour detect-
ed by some residents may be
emanating from soil removed
from the station’s underground
storage tanks.

He said the soil will soon be
removed from the site and
properly disposed of, at which
time the odour is expected to
dissipate.

“(The work) is being done in
accordance with our standard
operating procedures as well as
the standard operating proce-
dures of Texaco International
(Chevron Bahamas was for-
merly Texaco Bahamas),” he
said.

Mr Pinder said that any
petroleum product that could
spill into the ground water is
immediately cleaned up and
removed.

“So you’re not dealing with
a situation where there is leak-
age over an extended period of
time.

“We are aware of (the occa-
sional leakage). It happens all
the time and every precaution is
being taken, not only to min-
imise the degree to which there
is potential damage, but also in
the event that there is in fact
actual spillage,” he said.

Mr Pinder said that his
department understands the
residents’ concerns, but empha-
sised that the people can be
assured that all the involved
government agencies are ensur-
ing that “every possible pre-

caution is being taken so as to
minimise any hazard.to the
environment.” an

Responding to the complaint
by residents that no announce-
ment of the potentially haz-
ardous work was made.prior to
the station’s refurbishment
exercise, Mr Pinder said that
there is no requirement for such
a notice.

“J don’t know that we
require them to give any public
notice beyond (the signs at the
station), such as newspaper and
radio infomercials, I don’t think
that is an requirement,” he said.

Drowned
FROM page one

Lovers’ Beach around lam
Thursday. And a fourth body
of a young woman later sur-
faced around 2am ‘as-officers
attempted to salvage the cap-
sized vessel from the water.

According to three Haitian
women in custody, the group
had arrived on Grand Bahama
from Nassau aboard a larger
vessel two days earlier. They
said they had stayed at a house
with a Bahamian man, believed
to be the captain of the capsized
boat. : aren

The women were among a
group of Haitians... and -
Jamaicans, and two Chinese
nationals, who were passengers
on a black and white speedboat
with twin 200 horse power, out-
board engines.

Mr Rahming said shortly
after setting out on the trip the
boat overturned somewhere -
near Freeport Harbour. He said -
some persons were able to swim
to shore. yn

Police and immigration offi-
cers are being assisted hy BOR-
CO in the search for other pos-
sible victims. Aerial searches
were also conducted Friday
morning along the: nearby
southern coastline. <

Scotiabank’

Scotiabank (Bahamas) Ltd. is seeking the services of:

SENIOR MANAGER HUMAN RESOURCES

With over 55,000 employees in over 50 countries, Scotiabank places great importance on
recognizing and rewarding strong performance. We offer room for advancement, a stimulating
work environment and the resources to help you make the most of your career. Together,
We continue to make Scotiabank a great place to work.

POSITION SUMMARY:

As the Senior Manager, Human Resources, you are a member of the senior management
team of Scotiabank (Bahamas) Ltd., with a focus on dealing with the strategic and tactical
Human Resources needs of a growing and profitable organization. This will include but
not be limited to: developing the HR strategy for the organization; working with the Bank’s

support groups in the head office on the development of the annual total rew

program;

maintaining and developing a dynamic employee relations strategy; ensuring the effective

recruitment and orientation of new employees; managing the relationship between the
Bank and third-party service suppliers; and the identification of training needs and the
evolution of the training and development curriculum. You will need to be capable of
working in a highly cross-functional environment and be capable of managing tight time
lines and conflicting priorities. You are an exemplar of communication and relationship-
building skills, an excellent coach, and can effectively establish and maintain an open, co-

Oper ative work environment.

Key accountabilities for this role:

Contribute to the achievement of the overall business objectives of Scotiabank - .

(Bahamas) Ltd.

Ensure the recruitment, development and maintenance of an engaged workforce.:;
Support people through and act as an agent of change in the environment.

Be prepared to liaise with a wide variety of Departments, balancing the needs of-all
against the objectives and strategies of the Optimization program

QUALIFICATIONS:

Ten years of experience as a Human Resources professional.

‘

A minimum of an undergraduate university degree, while a graduate degree ora
major in Human Resources is an asset.
Experience in the financial industry ts an asset.
Proven experience managing people.

Excellent and proven negotiation and conflict resolution skills are essential. bt
Ability to learn quickly, adapt to an ever changing environment and adapt to ever
changing priorities are essential.

OTHER INFORMATION:

e Frequent travel to the Family Islands
¢ Occasional travel internationally.
¢ Spanish Language is a bonus in an organization that is expanding rapidly in Spanish-

speaking countries

The Scotiabank Group is an equal opportunity employer and welcomes applications from
all interested parties. We thank you for your interest, however, only those candidates
selected for an interview will be contacted.

Qualified candidates only should submit applications in writing marked Private and

Confidential by Monday, April 30,

2007 to:

Manager, Manpower & Succession Planning,

P. O. Box N-7518, Nassau, Bahamas or email scotiabank.bs





PAGE 10, WEDNESDAY, APRIL 11, 2007



WEDNESDAY EVENING APRIL 11, 2007

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

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Co ‘ : x (8) * & SOMETHING NEW (2006, econ) Sanaa Lathan, | % % % INSIDE MAN (2006) Denzel
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with a white man. © ‘PG-13' (CC) with a bank robber. ‘R’ (CC)









:20) & %% THEY LIVE (1988, Science Fiction) Roddy |» KING’S RANSOM (2005, Comedy) Anthony An- (nt 4% THE
iper, Keith David. A drifter uncovers an alien plot to jderson, Jay Mohr. A businessman plots his own kid- | HA D WAY
control mankind. 1 ‘R’ (CC) napping to foil his wife. © ‘PG-13 (CC) (1991) 'R’



This American |The Tudors De 2” (iTV) Henry] * % % ELIZABETHTOWN (2005, Comedy-Drama) Orlando Bloom,
Life fm) God. {considers an alliance with Spain. “Kirsten Dunst, Susan Sarandon. iTV. A flight attendant helps a man get
0 (CC) (CC) back on track. ( ‘PG-13' (CC)

6:05) % & 15) & & & MAD HOT BALLROOM (2005, Documentary) Premiere. | % A NIGHT AT THE ROXBURY
TMC itvertcx’ hoe .



RICK jaw York schoolchildren take part in a citywide dancing contest. 1 ‘PG’ |(1998, amet) Will Ferrell, Chris
(1994) ‘PG’ (CC) |(CC) Kattan. 1 'PG-13' (CC)



THE TRIBUNE

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THE TRIBUNE

WEDNESDAY, APRIL 11, 2007. PAGE 11





Reggae All Stars
rock Arawak Cay

@ ELEPHANT Man
@ By TRIBUNE STAFF

TUFF Gong Promotions
Nassau’s annual Reggae All
Stars Concert held at Arawak
Cay last week was again a huge
success according to attendees.

Now in its fourth year, Reg-
gae All Stars boast of bringing
the créme de la créme of artists
on their ticket.

Legendary artist Ken Boothe
got things started with hits from
the 1960s straight through the
1990s. He spoke briefly with the
audience about where the music
came from and how it had
evolved through the years.

At a press conference on the
eve of the concert, he reini-
nisced about performing at The





Cat and Fiddle on Nassau
Street. There were artists on the
card who had never performed
in The Bahamas before like
Half Pint, whose much-antici-
pated arrival was welcomed.

He was overwhelmed by the
love shown to him by the
Bahamian people. He is respon-
sible for such hits as 1 Am Not a
Substitute Lover, Level The
Vibes, Landlord and many oth-
ers over the years.

Barrington Levy and Wayne
Wonder, no strangers to the
Bahamian crowd, was also well
received.

Of course, when the undis-
puted Dance Hall King of The
World stepped into the place
the mood changed. As he likes

Bahamas Bus & Truck Co.Ltd —
» Montrose Avenue. =
. Phone: 322-1722/Fax:326-7452

RITA Marley



to say, he took the people to a
higher level.

Elephant Man fans were not
in any way disappointed by his
high-energy performance. He
and Ninja Kid rocked the audi-
ence and had them waving and
jumping to all of the latest dances.

Rita Marley, also known to
many around the world as Nana
Marley, widow of legendary
reggae artist Bob Marley, also
graced the stage to sing the tune
One Love.

Kymani Marley and TOK,
who were also slated to per-
form, were no-shows.

One Hundred Jamz radio
personality, The Natural
Empress, did an excellent job
hosting the show.



co rmasees

— LIMITED ————_—

BAHAMAS SUPERMARKETS LIMITED REPORTS RESULTS OF OPERATIONS
April 2, 2007

Chairman’s Statement

Net Sales for the 28-week period ending January 10, 2007 totalled $75 million, about
one-half of one percent below those for the same period last year. Despite physical constraints
at two locations, increasing competition in Grand Bahama and transition of product lines leaving
a temporary absence of promotional support, the results were satisfactory and within
projections. Specifically, cramped parking and the physical condition of our old Cable Beach
store during construction of the replacement facility hampered performance at that location
while road works at Tonique Williams-Darling Highway (Harrold Road) negatively impacted the
store at Independence Shopping Centre. In Grand Bahama, competitor stores that had suffered
major hurricane damage began to come back on stream.

During this period Bahamas Supermarkets Limited underwent a significant transition,
shedding not only Winn-Dixie ownership, directorships and products, but also its operating
support systems. The new flagship Cable Beach store was opened two weeks after the period
ended, new information technology and scanning introduced and new IGA-branded product
range sourced to replace Winn-Dixie's proprietary brands. Thanks in large part to absolute
dedication on the part of key employees and executive management who worked tirelessly to
ensure a smooth transition, sales were largely unaffected.

However, transition related expenses, escalating insurance premiums and dramatically
higher utility costs negatively impacted profitability. The transition also attracted extraordinary
costs including substantial fees paid to Winn-Dixie under the Transition Service Agreement.
This agreement, executed at the time of purchase and applicable for up to one full year, was

terminated in February 2007, after period end but prior to another contract quarter that would .

have led to more fees. Early-termination allowed for a savings of $500,000 that will be reflected
in future net earnings results.

While these factors have created temporary setbacks in results, we have the utmost
confidence in the direction and future of Bahamas Supermarkets Limited, one of the country’s
oldest and most respected businesses. We have embarked on long-term measures that will
improve operations and profitability. We are continuing to introduce new and expanding product

lines and a better shopping experience for our customers.

In late January, 2007, we opened the first new store in more than a decade and

response to Cable Beach City Market has been so positive and strong in sales and satisfaction
that it reinforces our commitment to upgrade all 11 other stores over the next 18 months, a
major investment and undertaking. Upon completion, every store will have point of sale
scanners to speed the check-out process and aid in inventory management. Some stores will be
elevatea to ‘signature’ store status.

The 700 employees who continue to operate our warehouse and 12 City Market stores
under one banner after 40 years of split identity between Grand Bahama and Nassau are united
in sharing this commitment to take City Market to a new level. Changes are taking place within
the work force, too. Energetic leadership is introducing new. recruitment methods targeting
persons we believe can grow with the company. ‘Greater attention is being devoted to human
resource development and a program of ongoing training has begun. Staff in all 12 stores will be
outfitted with smart new uniforms in the coming months. Excellent benefit packages will
continue to attract staff.

Prior to the results being published, Abaco Markets Limited decided to sell its stake in
BSL Holdings, the majority shareholder of the company. These shares were willingly taken up
by the existing shareholders of the holding company, a clear demonstration of their confidence
in the future of this Bahamas Supermarkets Limited.

| would like to take this opportunity to thank all of our ijoyal customers, our staff and our
shareholders for their trust as we steered diligently through eventful times before we reached
calmer grounds from which to nurture the development of this company.

Bahamas Supermarkets Limited operates 12 supermarkets in The Bahamas.

BAHAMAS SUPERMARKETS LIMITED
POST OFFICE BOX N-3738, NASSAU, BAHAMAS

Second Quarter First Quarter
For the 16 Weeks Ended For the 12 Weeks Ended

QUARTER (unaudited)

January 10, January 11, September 20, September 21,
OT 0G OG tS
Net sales BS 43,152,608 44,082,824 31,526,781 30,955,824
Total cost of sales and expenses B$ 41,900,110 (40,976,260 0,533,964 9,390,120)
Net eamings BS 1,252,498 3,106,564 992,817 1,565,704
Earnings per share BS 0.27 0.68 0.22 0.34
Dividends per share BS 0.60 0.24 = 0.24
YEAR TO DATE (unaudited)
For the 28 Weeks Ended
January 10, 2007 January 11, 2006
Net sales BS 74,679,389 75,038,648
Total cost of sales and expenses 434,074 0,366,380
Net eamings BS 2,245,315 4,672,268
Earnings per share B$ 0.49 1.02
Dividends per share BS 0.60 0.24
CONDENSED BALANCE SHEET
January 10, 2007 June 28, 2006
——__(unaudited)’ ——_{audited)
Total assets BS 29,949,762 34,982,214
Total liabilities BS 7,232,259 11,773,907
Total shareholders’ equity BS 22,717,503 23,208,307

Copies of a full set of the unaudited interim financial statements can be obtained from:

Bryan C.S. Knowles

Vice President, Treasurer, Chief Financial and Administrative Officer
Bahamas Supermarkets Limited

Headquarters Office

East-West Highway

P.O. Box N-3738

Nassau, Bahamas

Hours: 8:30 a.m. to 5:30 p.m. Monday through Friday, excluding public holidays
Phone: (242)-393-2830

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PAGE 12, WEDNESDAY, APRIL 11, 2007 THE TRIBUNE



ROWAN ey anton WAL NIO A aR EY

The Bahamas Telecommunications Company Limited
o 7 proudly Te ee




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WEDNESDAY, APRIL 11, 2007

SECTION



business@tribunemedia.net

BUSI

~ The Tribune







Miami Herald Business, Stocks, Analysis, Wall Street

DG

HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010









Political parties called
out on CSME intentions

Attorney warns ‘the Bahamas would suffer a negative economic impact’, with
minimal trade benefits accruing and CARICOM businesses coming here



@ BRIAN MOREE, senior partner at McKinney, Bancroft & Hughes





(FILE photo)

Hilton marina project
part of ‘PM’s vision’

@ By NEIL HARTNELL
Tribune Business Editor

THE Government is moy-
ing at “as fast a pace as we
can” given the upcoming gen-
eral election to ensure the pro-
posed marina/resort project
adjacent to downtown Nas-
sau’s British Colonial Hilton
proceeds, The Tribune was told
yesterday, with the develop-
ment part of “the Prime Min-
ister’s vision” for a revitalised
: Bay Street.

Vincent Peet, minister of
financial services and invest-
mets, said the Government
was not concerned about The
Tribune’s revelations that,

‘from the developer’s point of

view, the project was “in lim-
bo” after the British Colonial
Hilton’s new majority owner
attempted to alter the original
terms of their joint venture
| agreement yesterday.

Questioned by The Tribune
on the Government’s position
relating to the Island Global
Yachting development, Mr
Peet said: “There’s no concern
as far as we're concerned. The
project is moving. It’s very
important for the downtown
area to have the energy the
Government is committed to
bringing to it.”

The IGY project, which will
feature a 72-slip marina, bou-
tique hotel of about 150-200
rooms, several restaurants,
retail and a parking structure
for over 300 cars, would pro-

_ vide ae ‘anchor’ for
downtown Nassawu’s revitalisa
lion and rengenerate a section

Government moving
at ‘as fast a pace as we
can’ on IGY deal, but
minister’s assertion on
the project’s progress
contradicts company’s

of West Bay Street that is look-
ing increasingly rundown.

Mr Peet told The Tribune
yesterday: “As far as the Gov-
ernment is concerned, we’re
proceeding and at as fast a
pace as we can in the circum-
stances. We’re satisfied the
investors are serious and will
allow the process to take its
course.

“Of course it’s important.
That’s why it’s been part of the
Prime Minister’s vision for the
development of downtown. It
brings life and vibrancy to that
part of downtown.”

Mr Peet’s assertion that the
project is “moving”, though,
does not square with the views
of Andrew Farkas, IGY’s
chairman and chief executive.
He told The Tribune in Tues-
day’s edition that his company
was not going to wait “much
longer” to achieve an agree-
ment with the Hilton’s hold-
ing company, the British Colo-
nial Development Company,
which is now majority-owned
by Adurion Investment Man-
agement, a boutique Swiss/UK

SEE page 8B





@ By NEIL HARTNELL
Tribune Business Editor

prominent Bahamian

attorney yesterday

reiterated his call for

both major political

parties to publicly
state their positions on whether this
nation should join the CARICOM
Single Market & Economy (CMSE)
during the election campaign, warning
that “the Bahamas would suffer a
negative” economic impact if it signed
on to the agreement.

Brian Moree, senior partner at
McKinney, Bancroft & Hughes, who
also heads the Financial Services Con-
sultative Forum, was responding to
little-noticed comments by Leonard
Archer, the Bahamas Ambassador to
CARICOM, who said the issue of
Whether the Bahamas joined the
CSME was not dead, but merely
“dormant”

Describing this comment as “inter-
esting”, Mr Moree told The Tribune:
“It does cause me some concern as
to whether or not the Bahamian peo-
ple can regard the CSME as a dead
issue from the point of view of this
country, or whether it is still, in the
view of the CARICOM Ambassador,
an issue which can be resurrected at a
future date.”

His greatest concern, he said, was
that any party that won the May 2
general election - if signing the
Bahamas on to the CSME was their
plan all along - could interpret this
as a mandate for them to do just that
without further reference to the
Bahamian people.

Mr Moree said he personally

believed that if the Bahamas signed
on to the CSME and committed itself
to full integration with the rest of
CARICOM, this nation’s economy
and businesses would be impacted
negatively.

“It continues to be my view that
we in the Bahamas would suffer a
negative impact,” he added.

The Bahamas is seeking four main
reservations from the CSME’s pro-
visions, in the areas of free movement
of labour, the Common External Tar-
iff, the Caribbean Court of Justice
and monetary union,

Mr Archer and Fred Mitchell, min-
ister of foreign affairs, have repeat-
edly said that the Bahamas would be
able to obtain reservations from those
four aspects of the CSME.

Still, Mr Moree yesterday said that
if the Bahamas signed up to the
CSME, it “would have to contribute
to the extremely high costs of institu-
tions associated with the CSME,
including the Regional Secretariat
and all the other parts of the bureau-
cracy which are part and parcel of the
CSME”.

The Financial Services Forum
chairman added: “We would derive
no discernible trade benefits with oth-
er CARICOM states, as we have no
significant trade with those countries.”

Currently, less than 1 per cent of
this nation’s trade is conducted with
CSME member states, leading many
business and private sector leaders to
argue that ths country’s future lies
northwards with the US, its largest
trading partner, as opposed to south-
wards and the Caribbean.

“Certainly, there would be a sig-
nificant move from individuals, busi-

nesses, companies, and persons look-
ing*6 become involved in commercial
enterprises to come to the Bahamas
with their businesses under the Right
of Establishment, which exists under
the CSME,” Mr Moree added.

“T think that would certainly result
in the involvement of many
Caribbean businesses and companies
in areas of the economy which they
are not allowed to participate in
[under the National Investment Polli-
cy], and this will have a significant
effect on our local businesses.”

What the Right of Establishment
means for the Bahamas has been dis-
puted, with Mr Mitchell arguing that
self-employed persons would only
come to this nation to participate in
foreign exchange earning enterpris-
es, such as hotels, which are already
open to foreign-owned businesses.

The Right of Establishment, which
would allow nationals from CARI-
COM states to establish businesses
in the Bahamas on the same terms
and benefits as their Bahamian coun-
terparts, the minister has argued, does
not apply to sectors such as retail and
wholesale, which are presently
reserved for Bahamians only. This
argument, though, has been disput-
ed.

Mr Moree said yesterday: “Bahami-
an businesses could look to expand
into other countries which they cur-
rently don’t have access to, but all
you have to do is look at the cases of
other member states - their economies
and their GDP.

“It’s pretty clear where the busi-

SEE page 2B



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FREEPORT



PAGE 2B, WEDNESDAY, APRIL 11, 2007

THE TRIBUNE





BISX firm’s ‘main
challenge’ cash flow

Freeport Concrete’s operating costs fall eight per cent,
with accounts payable down $1m since 2006 year-end

@ By NEIL HARTNELL
Tribune Business Editor

reeport Concrete’s
chief executive has
indicated that once it

.

resolves its “main challenge”
of cash flow and acquiring
enough product to meet cus-
tomer demand at its Home
Centre retail subsidiary, the
BISX-listed entity will be well

on the way to turning its finan-
cial performance round.

In a letter to shareholders
on the company’s fiscal 2007
second quarter results, Ray
Simpson said Freeport Con-
crete had suffered a minor
$14,000 loss for the three
months to the end of Febru-
ary on sales worth $3.88 mil-
lion.

He acknowledged that
Freeport Concrete’s main
obstacle was generating
enough cash flow to purchase
the required amount of stock
from suppliers to meet cus-

tomer demands, the previous
high level of accounts payables
acting as an obstacle to this.

Centre

Describing the Home Centre
as the right business model, its
$214,000 loss in the 2007 first
quarter having declined to
$101,000 in the latest financial
reporting period, Mr Simpson
said inventory turns at the
retail operation were “the best
the company has ever seen”.

He added: “Our main chal-
lenge is cash flow and once we

can resolve this, so we can
maintain sufficient inventory
levels to meet our customers
demands, we are confident that
our sales revenues will increase
further.”

Sales at the Home Centre
during the second quarter fell
slightly, from $3 million the
previous year to $2.75 million
this time, due to the closure of
its Seahorse Plaza location and
the transfer of stock to the new
location.

Freeport Concrete’s
accounts payable had declined
by about $1 million since the

fiscal 2006 year-end, with sec-
ond quarter operating costs
about 8 per cent lower than in
the 2007 first quarter.

Meanwhile, Mr Simpson
said Freeport Concrete’s con-
crete plant generated an
$87,000 net profit during the
2007 second quarter,

He added: “We are delight-
ed at the operating results of
the concrete plant and based
on our order book for the com-
ing months this division will
continue to be profitable
through to the end of this fiscal
year.”

747 4% eet?!

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Political parties called out on CSME intentions

2001 BMW 7401L

Mint Condition Navy Blue
Tan Leather Interior Fully Loaded

“If any such intention exists within any
political party, an obligation exists, in my
view, to state that position in the cam-
paign, so the Bahamian people know
where the political parties stand on the
issue.

“Jt would not be legitimate for either
party to stay mute on this issue and then,
if they win, as a newly-elected govern-
ment claim they have a mandate to join
the CSME without further reference to
the Bahamian people.

“That, in my view, would be deceptive
and bad governanace. Given the impor-
tance of the issue, we should ask our polit-

“It does cause me some
concern as to whether or
not the Bahamian people
can regard the CSME as a.
dead issue from the point
of view of this country, or

whether it is still, in the

view of the CARICOM
Ambassador, an issue
which can be resurrected

at a future date.”
— Brian Moree

FROM page 1B
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 424-2173

ness is likely to move to, as it seeks more
buoyant markets and those countries
enjoying greater economic prosperity.”

Mr Mitchell abandoned his seeming
one-man campaign to take the Bahamas
into the CSME in 2005, in the face of over-
whelming opposition.

However, Mr Moree said yesterday:
“My primary concern is that if either polit-
ical party has any intention of.... taking the
Bahamas into the CSME within the next
five years, this is not the time nor the issue
to play hide and seek with the Bahamian
people on.

er office to be very straight and not equiv 7%
ocate or play any games with us.’



" FirstCaribbean International Bank is a member of the CIBC Group. We are the region's
largest publicly traded bank, serving over 4 million people in 17 countries. We manage
over 800,000 active accounts, with over 3,500 staff, 100 branches and centres.

CYT. my ese

Are you a proven, results oriented leader?

Do you thrive on a challenge?

BAHAMAS ELECTRICITY CORPORATION
| CYNON CONC

INTERNAL AUDITOR °
INTERNAL AUDIT DEPARTMENT

A vacancy exists in the Corporation for Internal Auditor in the Internal Audit
Department.

Then here’s your opportunity to become one of four Regional Sales Managers who will lead the
growth and development of FirstCaribbean’s Retail Lending business in each of the following
four operating companies:

¢ Barbados, Belize and the OECS

¢ The Bahamas and Turks & Caicos Islands

¢ The Cayman Islands, Curagao, St. Maarten, British Virgin Islands

e Jamaica

The job exécutes various audit and investigation assignments as stipulated in the
Schedule of Activities formulated by the AGM — Chief Internal Auditor; supervises
and directs the activities of the Audit Clerks, and offers technical assistance to the
Assistant Internal Auditors, The internal auditor trains subordinate staff; assists the
External Auditors with joint audit efforts for the year-end audit; produces audit
programs; produces audit and investigation reports as well as monthly and quarterly
reports; assists the AGM-Chief Internal Auditor with annual plans and corporate
research,

The duties and responsibilities for this job is as follows, but not limited to:

= Produce audit programs and submit for approval of the Chief Internal Auditor
« Conducts complete risk assessment for areas being audited
" Conducts financial, operational and ITS audit assignments in BEROIGAnCS with
established audit programs
Produces complete file of audit working papers
Produces audit reports on audit concerns and recommendations in accordance
with the IIA Standards
Conducts some confidential audit investigations, evaluate finding & produce
reports; exercising the IIA’s ethical standards
Conducts reviews of budgetary systems (including variances analysis), policies,
manpower efficiency and new computer applications
Discusses audit concerns with the relevant Department/Section head and seek
agreement to implement recommendations
Supervises work of Audit Clerks and conduct review of work done

snes management, both financial and operatic
Leading change — .
* Stakeholder management

Relevant experience in Retail Banking will be a significant asset.

This is an exciting opportunity to join the Caribbean’s leading bank and be a part of delivering
market-leading performance for our customers and shareholders.

So, if this is for you and you're up to the challenge...
You will have a challenging, diverse experience, There are opportunities for professional
| growth, Our compensation and reward package is attractively structured and performance
bonuses are offered.
Please complete your résumé, matching your skills and experience to the role and highlighting
} your professional qualifications or equivalent.

The incumbent should also have:

= A Bachelors degree in Accounting or other closely related discipline and a
professional accounting qualification e.g. CPA, CA or ACCA

® Obtaining the CIA would be highly desirable

" Five years post certification experience in auditing and general accounting
with experience in interviewing, producing reports and making verbal
presentations

Applicants are requested to submit their résumé with a cover letter by 23rd April 2007 to:

Lisa Prescod

Manager - Retail, Competency Development
FirstCaribbean International Bank

Head Office

Warrens, St. Michael

Barbados

Email: Lisa,Prescod@firstcaribbeanbank.com

Interested persons may apply by completing and returning an Application
Form to:
The Manager-Human Resources & Training,
Bahamas Electricity Corporation,
Blue Hill & Tucker Roads,
P.O. Box N-7509 Nassau, Bahamas
on or before: April 20,2007.

FIRSTCARIBBEAN

INTERNATIONAL BANK

GET THERE. TOGETHER.



ical leaders and those who aspire to‘high- ~ z as







THE MARKETS

“STOCKS, b MUTUAL FUNDS, 7B :

Dow30 1873.85 +4 A

SaP 500 1448.39 +378 A

NASDAQ 2,477.61. +843 AA

jO-YRNOTE 472 -03 W
CRUDE OIL 61.89 +0.38 A

Stocks |
edge up:
investors
unmoved |

BY TIM PARADIS
~ Associated Press
-NEW YORK — Stocks edged
higher Tuesday as investors
_ refrained from major moves
' < ahead of first-quarter earnings
* . reports that began with Alcoa’s
~-results after the closing bell. A
‘modest increase in the Dow
‘Jones industrials marked the
-eighth-straight win for the blue.
chip index, its longest such
‘streak since 2003. _

- Aluminum producer Alcoa
reported a better-than-expected
first-quarter profit, pleasing
investors who bid the compa-

“ny’s stock up in after-hours
trading. Wall Street was looking

.'.'+. for results from the Dow com-
-1-"*. ponent to not only gauge the

pace of earnings for the quarter —
but as a proxy for the health of
the overall economy.

a “Tuesday was the second day

oo.

in a row that stocks showed lit-.
tle overall movement as inves-
tors. awaited news of how com-
panies fared during the first.
quarter, and also their expecta-_

__ -tions for the coming quarters. In
4 {the fourth: -quarter, piteeed Be
- Poor's 500 companies






snapped — s
‘an 18-quarter streak of double- _

digit profit gains, and Wall
Street expects profit growth to
- remain in the single digits for
the first three months of the
year. 7 Sp tals
“A lot of people are going to
be watching earnings very
closely and not just the num-
bers, but the guidance that they
give going forward,” said J.
‘Michael Barron, chief executive
of Knott Capital. “I think that
will be crucial.”

The Dow rose 4.71, or 0.04 .
percent, to 12,573.85.

Broader stock indicators
edged higher. The S&P 500 rose
3.78, or 0. 26 percent, to 1,448.39,
-and the Nasdaq composite

~" index advanced 8.43, or. 0.34
percent, to 2,477.61.
- Bonds continued their recov-
ery, with the yield on the bench-
mark 10-year Treasury note fall-
ing to 4.72 percent from 4.75
_ percent late Monday.
_-. Oil prices rose after selling
.” off Monday following doubts
~. about Iran’s comments about its
uranium enrichment achieve-
-ments. A barrel of light, sweet
’ crude for delivery on the New
York Mercantile Exchange rose
38 cents to settle at $61.89.

As they awaited earnings
news, investors examined com-
ments from Fed governors but
appeared unmoved.

Fed Gov. Frederic Mishkin
said Tuesday that inflation
expectations remain ‘well
anchored” and said inflationary
pressure have been “falling
back again.” _

~.*« Dallas Fed President Richard
“Fisher said the U.S. economy
has been growing but that its
_ expansion is slowing. He also
. said inflation remains sstub-
* bornly high.
Investors were also awaning
minutes due Wednesday from
the Fed’s most recent meeting.

Advancing issues outnum-
_‘bered advancers by about 5 to 3
‘on the New York Stock
Exchange, where consolidated
volume came to 2.49 billion
shares, compared with 2,32 bil-
lion traded Monday.
The Russell 2000 index of

|. 1+ smaller companies rose 2.87, or
-'+_-0,35 percent, to 814.51.

Overseas, Japan’s Nikkei
stock average closed down 0.45
‘.”. percent. Britain’s FTSE 100 rose
*.* 0.32 percent, Germany’s DAX
index rose 0.94 percent, and
France’s CAC-40 advanced 0.43
percent.

Che Miami Herald

TRADE

WEDNESDAY, APRIL 11, 2007





INTERNATIONAL EDITION

China’s surplus drops: U.S. complaints rejected

BB China’s trade surplus almost
doubled in the first quarter,
adding to friction as the U.S. took
complaints against its
second-largest trading partner to
the WTO.

BY JOE McDONALD
Associated Press

BEIJING — China reported a
sharp monthly drop in its ballooning
trade surplus Tuesday and angrily
rejected two U.S. complaints filed
with the World Trade Organization
over product piracy and market
access for American movies, music
and books.

The exchanges threatened to add
tension to one of the world’s biggest
— and thorniest — trading relation-
ships already strained by U.S. pres-
sure on Beijing to close its trade gap

i While many American car
makers are slashing U.S. jobs,
the Japanese are taking
advantage of strong demand
for their vehicles and using
production strategies
developed at home to open
more plants there.

BY YURI KAGEYAMA
Associated Press

TOKYO — At a time when
Detroit’s “Big Three” are closing
plants and slashing jobs to revive
their ailing business, their Japanese
counterparts are busy opening
plants in Japan for the first time in
decades.

That’s because there’s strong
demand for fuel-efficient small cars
such as the Toyota Yaris and
Honda Fit — all of which are made
in Japan — as well as luxury models
and hyvrids, most of which are
made here.

But there’s also a shitt away
from the conventional wisdom that
automakers are best off making
cars in the same region where they
sell.

Toyota, Nissan and Honda real-
ize that the roots of their success lie
in the management and production
strategies developed and honed at
home — from outstanding quality

networks — and that expanding in
Japan may be the smartest way to
meet demand for certain types of
vehicles.

“It doesn’t make sense to pro-
duce everything abroad,” said T’su-
yoshi Mochimaru, auto analyst
with Deutsche Securities in Tokyo.
“The idea is that rethinking quality
begins in Japan.”

Among the recent boosts in pro-
duction here:

e Honda Motor is planning its



AE EOIN



control to their extensive supplier -

and allow its currency to appreciate
more quickly. Last month, Washing-
ton also imposed higher tariffs on
Chinese paper in a dispute over sub-
sidies.

China’s trade surplus in March fell
to $6.9 billion from $23.7 billion in
February, according to figures
released by the Chinese customs
agency.

But economists said the drop was
probably only temporary.

“Our expectation is that the
monthly trade surplus will stay above
$20 billion,” said Citigroup’s Shen
Minggao.

Beijing says it is trying to cut its
trade gap, which is growing amid
surging exports of everything from
consumer electronics to toys and
clothing.

While Chinese leaders have

ASIA



MADE IN JAPAN: Workers assemble a vehicle at Nissan Motor’s plant, above, in Yokosuka, southwest
of Tokyo. New plants are being opened in Japan for the first time in decades. Below, workers add
parts to a vehicle in front of a parts chart on an assembly line.

Japanese automakers
create more jobs at home



first plant opening in Japan in 30
years. The new car-assembly and
engine plants will be running by
2010, creating 2,200 jobs.

e Toyota Motor is adding a
new line at a plant in southwestern
Japan to double production of
engines for luxury models. The
engine plant, which opened in 2005,
marked Toyota’s first plant open-
ing in Japan in about 20 years; the
new line, starting in 2008, will add
500 jobs.

e Nissan Motor completed a
second engine facility last year to
make engines for luxury cars and
other models. It’s expanding
another engine plant in Yokohama,
southwest of Tokyo.

Thierry Viadieu, a Nissan execu-
tive who has overseen alliances,
said the plant openings in Japan
mark a new stage of growth from
earlier decades when the main goal
was simpler: Get out of Japan to
produce cars where they’re being
sold.

These days, he said, multina-
tional manufacturers need to be

appealed for patience, Washington’s
seems to be running out.

On Tuesday, the United States
filed two complaints against China at
the World Trade Organization over
its lax enforcement of copyright pol-
icy and alleged barriers on the sale of
U.S. movies, music and books in the
country.

China’s Commerce Ministry
expressed “great regret and strong
dissatisfaction” with the complaints,
which U.S. Trade Representative
Susan Schwab announced Monday.

China is one of the world’s biggest
sources of illegally copied goods
ranging from movies, music and
designer clothes to sporting goods
and medications. U.S. companies
contend they are losing billions of
dollars a year in lost potential sales to
piracy.

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PHOTOS BY SHUJI KAJIYAMA/AP

sophisticated in their production
strategies, coordinating output
among their far-flung plants, amid
increasingly intense competition.

Nissan, for example, imports all
of its Infiniti luxury models sold in
North America from Japan — and
for now, that make sense, said Nis-
san Chief Operating Officer Toshi-
yuki Shiga.

“We don’t start out with the idea
that we need plants in Japan,” Shiga
said. “Each plant taking up the chal-
lenge leads to Nissan’s overall com-
petitiveness.”

Kazuo Aoki, general manager at
the Union of Japanese Scientists
and Engineers, an organization that
promotes technology, said the fun-
damentals of ensuring quality are
based in Japan, which boasts top-
notch parts suppliers and steelmak-
ers.

“It’s still best to produce domes-
tically those cars with extra value,”
Aoki said. “But what you want to
avoid is friction with nations,
where the cars get exported.”



But China’s top intellectual prop-
erty official criticized the U.S. move,
appealing for cooperation and dia-
logue, the official Xinhua News
Agency reported.

“It’s not a sensible move for the
U.S. government to file such a com-
plaint,” Tian Lipu, commissioner of
the Intellectual Property Office, was
quoted as saying. “To do a better job
in combating piracy, we need dia-
logue and cooperation, not confron-
tation and condemnation.”

Senior officials from two countries
are to meet in May in Washington for .
the latest round of a “strategic eco-
nomic dialogue” led by U.S. Treasury
Secretary Henry Paulson and Chi-
nese Vice Premier Wu Yi. The dia-
logue is meant to address issues rang-
ing from market access to complaints
about Chinese currency controls.

WORLD CURRENCY

Kuro
hits a
record
high

i The euro gained against the
Japanese yen and the U.S. dollar

as investors were bullish that
borrowing costs would rise soon.

BY BO NIELSEN AND MIN ZENG
Bloomberg News

The euro advanced to a record
against the yen and a two-year high
against the dollar as signs of faster
economic growth in Europe
prompted traders to boost bets on
higher interest rates.

The euro gained as investors
added to wagers the European Cen-
tral Bank will lift borrowing costs
from 3.75 percent as soon as this
week. Futures trading signaled
increased anticipation of higher rates
after economic data today showed
German exports rose for the first
time in four months and French
industrial production was stronger
than forecast.

“You have to buy euro,” said
Paresh Upadhyaya, who helps man-
age $29 billion in currency assets in
Boston at Putnam Investments. “It is

‘very difficult for the ECB to pause.”

The euro rose 0.59 percent to
$1.3433 against the dollar at 4:10 p.m.
in New York after touching $1.3455,
the highest since March 2005. The
euro gained 0.40 percent to 159.99
yen, touching an all-time high of
160.10, as the Bank of Japan left its
benchmark rate unchanged at 0.5 per-
cent, the lowest among major econo-
mies. The European currency began
trading in January 1999.

The yield on September interest-
rate futures contracts has gained 21
basis points, or 0.21 percentage point,
since the start of March to 4.25 per-
cent, indicating bets have risen on
two more European rate increases.

The contract settles to the three-
month interbank offered rate for the
euro, which has averaged about 16
basis points above the ECB’s bench-
mark rate since 1999.

The ECB will raise borrowing
costs 25 basis points to 4 percent by
November, according to the median
forecast of 18 economists surveyed
by Bloomberg News. All 37 econo-
mists surveyed expect the central
bank’s policy makers to hold rates
steady at their meeting April 12.

The dollar fell against the euro
and yen after the U.S. government
said it will file complaints against
China to the World Trade Organiza-
tion, raising concern a dispute
between the two will escalate and
slow growth in both economies.

The dollar declined 0.22 percent
to 119.06 yen. The dollar also dropped
1.24 percent against the New Zealand
currency, 0.72 percent versus the
Swiss franc and 0.43 percent against
the British pound.

The dollar today wiped out its
gains from a Labor Department
report on April 6 that showed U.S.
employers last month added more
jobs than economists forecast and the
unemployment rate fell to 4.4 per-
cent, matching its lowest level in six
years.

2 ARI US ET STR TETEL T



4B | WEDNESDAY, APRIL 11, 2007

" BUSINESS BRIEFS



INTERNATIONAL EDITION



e TAKEOVER ~

ES








CHRISTOF STACHE/AP FILE, 2006

$1.9-BILLION DEAL: French luxury goods group PPR said
Tuesday it made a friendly takeover offer for German
sporting goods company Puma.

Luxury goods maker
PPR bids for Puma

From Herald Wire Services

PPR, the French luxury goods maker behind the Gucci and
Yves Saint Laurent brands, said Tuesday it is buying a 27.1
percent stake in Puma (PMMAY.PK) and plans to make an
offer for the rest in a deal that values the world’s third-largest
sporting goods maker at $7.1 billion.

Herzogenaurach-based Puma welcomed the offer and said
management would recommend it to shareholders. .

PPR said it was paying $1.9 billion for the stake in Puma
held by the Mayfair investment company.

Following that deal, PPR said it plans to launch a “friendly
takeover offer” for Puma’s remaining shares at the same price
of $441.11 per share. It said it expects to complete the offer in

early July.

Puma shares soared 9.4 percent to close at $461.76 —
above PPR’s offered price — in Frankfurt. The shares had
risen more than 10 percent on Thursday, the last trading day
before the Easter weekend, on talk of a possible bid. PPR
shares rose 3.2 percent to close at $178.61 in Paris.

e ALUMINUM e CHRYSLER BID
ALCOA 1ST-QUARTER CANADIAN WORKERS
PROFIT RISES 9% TO FIGHT KERKORIAN
Aluminum producer The head of the Canadian
Alcoa (AA) kicked off the Auto Workers says he will |
first quarter earnings period try to thwart billionaire
on Tuesday by posting an investor Kirk Kerkorian’s
almost 9 percent rise in bid for Chrysler (DCX).
profits on favorable metal CAW President Buzz
prices and strong sales. Hargrove said Tuesday that
eae brieny _q ameaenodkerkorian’s:-Tracinda::=
- The Pittsburgh-based *“""""* :
company earned $662 mil- ae, Leeibris ie iblrant
lion, or 75 cents per share, q ayi lenh
during the first three studying Chrysler, have a
months of the year com- history of hurting workers.
. sis “We don’t have much
pared with $608 million, or confidence or trust in Mr.

69 cents per share, during
the same period last year.

Revenue climbed 11 per-
cent to $7.9 billion, from $7.1
billion a year earlier.

e BANK

CITIGROUP MAY
CUT 17,000 JOBS

Citigroup (C), the big-
gest U.S. bank, may cut
5 percent of its workforce,
or almost 17,000 jobs, as the
company seeks to lower
annual expenses by more
than $1 billion, said a person
with knowledge of the com-
pany’s plans.

The reductions follow a
three-month review by
Chief Operating Officer
Robert Druskin, said the
person, who declined to be
identified before today’s
- announcement.

e SUGAR PRODUCER

TATE & LYLE SAYS IT
FILED PATENT CASE

Tate & Lyle (TATE.L),
one of the world’s largest
sugar producers, said Tues-
day it filed a case with the
USS. International Trade
Commission alleging patent
infringement against three
Chinese manufacturers and
18 importers and distribu-
tors to the U.S. over the
technology it uses to make
sucralose.

“Our sucralose manufac-
turing technology is pro-
tected by a robust and
sophisticated patent estate,
which we will defend rigor-
ously,” said Robert Gibber,
general counsel of London-
based Tate & Lyle.

4 6:35 p.m. Late
Stock Th. ase close Chg. volume
Nasdl100Tr QQQQ 44.68 44.68 °* 151701
isha2Knya IWM 80.80 8080 ° 81119
FMCG FCX 70.46 70.65 +.19 69803
Kraft KFT 31.24 3124 * 49935
Dellincif DI 23.91 23.91 * 43246
CellThera —CTIC 1.62 1.62 * 35350
SPDR S| 144.61 144.61 * 32855
TimeWarn TWX 21.01 21.01 * 27932
Microsoft MSFT 2840 2838 -.02 24939
Emdeon HLTH = 15.69 1569 = * 16674
ae M 80.28 = 80.28 * 15917
Bi BRCD 10.22 1022. * 15091
SunMicro SUNW 5.93 5.93 . 14744

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

’ @ SOFTWARE

Kerkorian,” Hargrove said.
“He’s made billions by com-
ing in, buying low, cutting
jobs and throwing people
out of work, then selling.”

PALM TO USE LINUX
FOR NEW PLATFORM

Smart phone maker Palm
(PALM) said Tuesday it will
use a new platform based on
Linux to help the company
compete better.

Palm officials announced
the new operating system
platform during a meeting
with analysts in New York,
where they refused to talk
about recent rumors of a
possible buyout.

Palm has long used its
cornerstone Palm operating
system and last year broad-
ened its customer base by
debuting Treo smart phones
based on Microsoft’s
(MSFT) Windows Mobile
system.





e AIRLINES

AIRTRAN EXPECTS
SMALL 1Q PROFIT

AirTran Holdings
(AAI), parent of AirTran
Airways, said its first-quar-
ter revenue per available
seat mile should beat previ-
ous estimates of a mild
decline and help the com-
pany to earn a “small profit.”

The company said sales
per available seat mile will
be “slightly better” than pre-
vious guidance of al percent
to 2 percent decline.

Shares of AirTran added
18 cents to close at $11.12 on
the NYSE.

4 die 6:35 p.m. Late
Stock Tr. close Chg. volume
Hallibtns = HAL 32.86 32.86 : 13500
Nvidia NVDA — 30.03 30.07 +04 = 13327
PNC PNC 72.88 72.88 * 12853
Charttm CHTR 2.84 2.84 « 11697
KBRincn KBR 21.30 21.30 11623
CVSCare CVS 35.00 35,00 10328
ProctGam PG 63.21 63.21 10240
AstraZen = AZN 53.93 53.93 9480
Texinst TXN 31.26 31.12 “14 8597
Altria s MO 70.16 70.21 +,05 8241
Alcoa AA 34.90 35.69 = -+.79 7563
NikeB wi NKE 54.01 54.01 * 7440

MEDIA

MiamiHerald.com | THE MIAMI HERALD *.-. -”

Yahoo to provide search ads
for Viacom’s Internet sites

BY MICHAEL LIEDTKE
Associated Press

SAN FRANCISCO — Via-
com has picked Yahoo as its
online advertising partner in a
multiyear deal that could help
Yahoo become a more formi-
dable challenger to Google —
Viacom’s foe in a legal squab-
ble over video copyrights.

Financial terms of the alli-
ance announced Tuesday
weren’t disclosed.

New York-based Viacom
probably will get 70 percent to
80 percent of the revenue gen-
erated from the Yahoo ads,
based on the prevailing com-
missions in the Internet indus-
try.
The small, text-based ads
will appear alongside search
results and other relevant con-
tent on 33 websites owned by
Viacom, including popular
destinations like MTV.com,
VHl.com, ComedyCen-
tral.com, Nickelodeon.com

HOUSING

BY DAVID KOENIG
Associated Press

DALLAS The peak
spring home-selling season is
off to a slow start, builder D.R.
Horton said Tuesday, another
sign that bad times in the
housing market may last lon-
ger than expected.

Horton, the nation’s largest
homebuilder by deliveries,
said Tuesday that its sales
order in the most recent quar-
ter fell 37 percent, led by even
steeper declines in California
and the Southwest.

The grim report trumped
recent indications that sales of

homes, especially existing’

houses, had been improving.

“It appeared demand had
stabilized, but this throws that
into question,” said Bernard
Markstein, an economist for
the National Association of
Home Builders.

Horton’s founder and chair-
man, Donald R. Horton, said
that conditions for selling
homes “continue to be chal-
lenging in most of our mar-
kets,” as the supply of unsold
new and existing homes
remained high.

“We continue to sell more
homes than any other builder,
even though the spring selling
season has not gotten off to its
usual strong start,” he said.

The Fort Worth-based
company said net sales orders
for the quarter ended March 31
totaled 9,983 homes, down
from 15,771 a year ago. The
value of the orders dropped 40
percent, to $2.6 billion from
$4.4 billion a year ago.

The decline in orders was
sharpest in California, plung-
ing 59 percent to 1,107 from
2,697 a year earlier. Orders in
the Southwest fell 39 percent.

NEW YORK

and BET.com. Viacom previ-
ously had been selling most of
the ads themselves.

The friction that apparently
helped bring together Viacom
and Yahoo adds an intriguing
twist to the marriage.

Viacom sued Google last
month for $1 billion in dam-
ages, alleging the online
search leader’s video-sharing
site, YouTube.com, has been
repeatedly violating copyright
law by showing clips from
Viacom’s shows without per-
mission.

Google, which bought You-
Tube for $1.76 billion in
November, insists the video
site has obeyed the law by
removing copyrighted mate-
rial whenever asked.

Meanwhile, the competitive
tensions between Yahoo and
Google have been building for
years.

Although it became one of
the Internet’s first success sto-

ries, Yahoo has since been
eclipsed by its younger rival’s
phenomenal success.

Propelled by the Internet’s
largest advertising network,
Google last year earned $3.1
billion, quadrupling Yahoo’s
$751 million profit. With a
market value of $145 billion,
Google is currently worth
three times more than Yahoo.

Google’s growth has been
bolstered by advertising alli-
ances with some of the Web’s
most trafficked sites, including
Time Warner’s AOL.com,
News Corp.’s MySpace.com
and IAC/InteractiveCorp’s
Ask.com. The Ask contract is
set to expire at the end of this
year.

Yahoo hopes to close the
gap with a recently introduced
advertising formula, named
“Panama” because it is sup-
posed to open new corridors
in e-commerce, much like the
Panama Canal created new

opportunities in international :.-

trade.

The Viacom contract repre-

sents Yahoo’s first major dis-
tribution agreement since Pan-
ama’s early February debut.
“We couldn’t be more
pleased to have them as a part-
ner and we look forward to

growing our relationship even *.*.°.

more over time,” said Philippe . ---

Dauman, Viacom’s chief exec-
utive officer.

Yahoo Chairman Terry
Semel described the Viacom
deal as “the beginning of a
powerful and engaging part-
nership between our two com-
panies.” ,

Viacom’s Class B shares fell
40 cents Tuesday to close at
$40.60 on the New York Stock
Exchange. Yahoo shares rose 5
cents to finish at $31.69 on the
Nasdaq Stock Market, where

Google shares shed $1.71 to.

close at $466.50.



DAVID ZALUBOWSKI/AP FILE, 2006

EVEN STEEPER DROP IN SOUTHWEST: D.R. Horton said Tuesday that its second-quarter
sales orders fell 37 percent. Above, workers toil on the roof of anew home being
constructed by Horton in the north Denver suburb of Thornton, Colo.

The smallest decline: 21 per-
cent in the Northeast.

The weak quarter followed
a 23 percent drop in orders
during the last three months of
2006.

Horton and other builders
have been forced to throw in
incentives to generate sales.
They have also reduced the
number of homes under con-
struction, dumped lots and
backed out of options for new
land.

Shares of Horton were
traded down 34 cents or, 1.54
percent, to close at $21.70

Tuesday on the New York
Stock Exchange. They have
traded in a 52-week range of
$19.52 to $35.

Experts said some of the
factors that overheated hous-
ing markets in the past several
years especially easy
financing for buyers with mar-
ginal credit and growing use of
zero-down loans to afford
pricey houses — were coming
back to haunt builders.

People who bought homes
at low teaser interest rates are
now seeing their monthly pay-
ments soar. Many of them

D.R. Horton 20 net sales orders decline

+

can’t afford the new payments
nor can they refinance under :
today’s tougher underwriting °

standards.

“These people are now put-

ting those homes back on the

market. Most of them are °

nearly new homes, and they’re
competing with the builders,”
said Bruce Norris, a longtime
real estate investor in River-
side, Calif.

“This is not a solvable prob-

lem anytime soon,” Norris .

said. “It’s going to run its
course,” which he predicted
won't be over until 2010.

Cuomo: Student loan corruption widespread

BY MARK JOHNSON
Associated Press

ALBANY, N.Y. — Cozy
arrangements between col-
leges and the companies that
lend their students billions of
dollars are far more wide-
spread than anticipated, New
York Attorney General
Andrew Cuomo told The
Associated Press Tuesday, just
as two more college financial
aid officers were suspended
amid a probe into the $85 bil-
lion industry.

Cuomo would not divulge
where the burgeoning investi-
gation is headed next, includ-
ing whether more subpoenas
are on the way. But he said the
investigation could lead to
criminal charges against high-
ranking officials at both lend-
ing companies and universi-
ties.

“This is like peeling an
onion,” Cuomo said. “It seems
to be getting worse the more
we uncover. It’s more wide-
spread than we originally
thought. ... More schools and
more lenders at the top end.

“We have demonstrated
this is not just the exception,”
he said. “This is the rule.”

Cuomo is investigating

alleged kickbacks to school
officials who steered students
to certain lenders. His investi-
gators say they have found
numerous arrangements that
benefited schools, financial aid
officers and lenders at the
expense of students.

‘PREFERRED LENDERS’

Investigators found that
many colleges have estab-
lished “preferred lender” lists
and entered into revenue shar-
ing and other financial
arrangements with those lend-
ers. Some colleges have
“exclusive” preferred lender
agreements with the compa-
nies.

So far, six schools, includ-
ing the University of Pennsy]-
vania and New York Univer-
sity, have agreed to reimburse
students a total of $3.27 million
for inflated loan prices caused
by revenue sharing agree-
ments, Cuomo said. The
schools will return money to
students who took out loans:
during the time the revenue
sharing agreement was in
effect. Students will be
refunded based on the amount
they were loaned.

On Monday, a loan com-

pany that has been at the cen-
ter of the investigation, CIT
Group, placed three top exec-
utives at its Student Loan
Xpress division on paid leave
following allegations of stock
transactions with a high-level
U.S. Department of Education
official and college financial
aid officers.

The Department of Educa-
tion official who oversaw
parts of the student loan
industry was also placed on
leave after it was reported that
in 2003 he owned at least
$100,000 worth of stock in
Education Lending Group, the
former parent of Student Loan
Xpress. The company was
acquired by CIT in 2005.

A number of student loan
officials at different schools
have also been placed on leave
pending the investigation.

On Tuesday, Widener Uni-
versity in Pennsylvania placed
Walter Cathie, the dean of
financial aid at Widener on
leave. Cuomo’s office said
Cathie was paid $80,000 by
Student Loan Xpress since
2005. Investigators said they
believed Cathie had an agree-
ment with the company to
market its services to graduate

schools, receiving fees based
on loan volume.

Also on Tuesday, Capella
University, a Minneapolis-
based online school, said it
suspended its director of
financial aid after he acknowl-
edged accepting consulting
fees from Student Loan
Xpress.

Financial aid director Tim- '

othy Lehmann was put on paid
administrative leave after
Cuomo’s office said he
received more than $13,000 in
fees trom the company.
Capella President Michael
Offernan says Lehmann dis-
closed the payments last Fri-
day.

The school is cooperating

t+e¢e wee

-77e-
wos

cc cece ee

with Cuomo’s office and doing .

an internal investigation as
well, Offernan said.

NO DEFENSE

“No one is even defending
the situation anymore,” he
said.

Cuomo said he suspects
“dozens” of financial aid
officers around the country
have similar arrangements
that he has called decep-
tive, unethical and at times,
illegal.

[EEN FI NE GIN PTT PSO TONS NNO ES PE ST SENT, WONT FEL EO ET SR ERE



WEDNESDAY, APRIL 11, 2007, PAGE 5B
BUSINESS

Solar power

_ the way to

reduce BEC
line losses



@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

onservation initiatives
such as those devel-
oped by the Cape
Eleuthera Institute can gener-
-. ate ideas to help the Bahamas
‘Electricity Corporation (BEC)
save money on large line loss-
es in the Family Islands, The
Tribune was told yesterday.
Christian Henry, chief finan-
cial officer at the Cape
Eleuthera Institute, explained
that although the law prohibits
individuals from generating
their own electricity, the Foun-
dation has been granted special
leave as a research facility to
prove that its engineering is
safe and effective, and can
devise ways in which Eleuthera
and the Bahamas can be less
. dependent on foreign oil.
_ The Cape Eleuthera Insti-
~ tute has completed a research
campus that boasts one of the
. Most ecologically-responsible
‘facilities in the Caribbean,
designed and engineered by
the Cape Systems team.
The Cape Eleuthera Insti-
tute’s solar-panelled roof gen-
erates electricity for all on-site

"needs, and even sends surplus

“Every bit of
electricity produced
by these solar panels

keeps a gallon of
diesel fuel in the

BEC tanks’

power back to the grid.

Mr Henry said this could be
a great cost saving tool for
BEC. “Every bit of electricity
produced by these solar panels
keeps a gallon of diesel fuel in
the BEC tanks,” he explained.

“Because there are large line
losses on an out-island like
Eleuthera, where BEC pro-
duction costs are higher than
local revenues, the small con-
tribution of electricity back to
the grid will tend to save BEC
money in the long run. And
because the sun only shines
half the day, we purchase BEC

— Christian Henry



electricity at night. So it’s got
benefits to both sides, and we
want BEC to know that we
appreciate their openness to
this project.

“When developers have a
choice to build an eco-resort
either in Barbados or the
Bahamas, it’s this kind of grid-
intertie policy that will make a
big difference in where they
choose to invest.”

BEC’s general manager
Kevin Basden was in meetings
for most of the day and unable
to speak with Tribune Business
on the matter.

BAHAMAS ELECTRICITY CORPORATION

VACANCY NOTICE

NETWORK SUPPORT ASSISTANT

FINANCE DIVISION

A vacancy exists in the Corporation for the post of Network Support Assistant in

the Information Technology Services Department

Finance Division.

The duties and responsibilities for this job is as follows, but not limited to:

Assisting with the continuous operation and maintenance of
the Corporation’s Local and Wide Area Networks (New
Providence & Family Islands)

Troubleshooting and resolving network hardware/software conflicts

Ensuring that all network devices are

functioning

properly configured and

Providing end-user support for hardware, software and network
access issues

Network performance monitoring and the maintenance of
corresponding statistical data

Maintaining network architecture documentation

Repairing Personal Computers and peripheral equipment

Monitoring and maintaining computer equipment inventory/supplies

Identifying and recommending Information Technology solutions

The incumbent should also have:

° A minimum of an Associate Degree with concentration in Computer

Science

A minimum of 1-2 years experience in LAN/WAN environment
Network + and/or A+ Certification (Cisco CCNA a plus)

Sound technical knowledge of network and computer operating

systems

Demonstrates knowledge of the operation and function of standard
networking equipment

Excellent written and verbal communication skills

Knowledg

e of effective user support services

Interested persons may apply by completing and returning an Application

Form to: The Manager - Human Resources & Training,
Bahamas Electricity Corporation, Blue Hill & Tucker Roads,

P.O. Box N-7509, Nassau Bahamas,

on or before’ April 20, 2007.

é é;
Nee Set RD

we nes Seats

for ad rates |



Orrice ADMINISTRATOR 3 CLIENT RELATIONSHIP MANAGER

Our client, a bank & trust company, 1s seeking applications for the following managerial
positions:

Orrice ADMINISTRATOR:

Responsible for the profitability and efficiency of the office and providing leadership
and direction in human resources, budgeting, comphance, 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 ti rclated field. Masters degree preferred
Proven ability to enhance operational etictencies
Proficient in the use of the Microsoft range of applications
Knowledge of Quick Books

CLIENT RELATIONSHIP MANAGER:

Responsible for the maintenance and control of clent tecords, payments and
disbursements, the preparation and analysis of monthly chent financials and invoices, and
posting and reconciltation of chent 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.

JREQUIREMENTS G 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,
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.

Law, Finance, Economics or Accounting

Both Candidates should also meet the following criteria:
Proven ability to enhance operational c tticrencies
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 v alue 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 resumes mceluding references before April
10 "2007 to:

Mark E. Munnings "

Partner

Deloitte & Touche

P. O. Box N-7120

Nassau, Bahamas

or

Email: mmununings@deloitte.com.bs
Deloitte.





PAGE 6B, WEDNESDAY, APRIL 11, 2007

NOTICE

NOTICE is hereby given that ELIANA OSCAR OF
SEVENTH TERRACE CENTERVILLE, P.O. BOX N-8889,
NASSAU, BAHAMAS, is applying to the 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 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.





4 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

Sy

BUSINESS

National Health Insurance

THE TRIBUNE



Deen Ons

@ By NEIL HARTNELL
Tribune Business Editor

r Whe National Health
Insurance (NHJ) Act
“places an unrealistic
obligation on employers” by
prohibiting Bahamian compa-
nies from modifying their exist-
ing private group health insur-
ance plans for employees with-
out first obtaining the minis-
ter’s permission, a leading
member of the National Coali-
tion for Healthcare Reform
said.

Senior

J Barrie Farrington, a senior

Kerzner International execu-
tive and head of the Bahamas
Hotel Employers Association
(BHEA), said Section 14 of
the NHI Act “removes the
right of choice” by preventing
employers from amending
group health insurance plans
for employees without obtain-
ing the prior approval of the
minister of health and national
insurance.

The Government had previ-
ously explained that this part
of Section 14 was intended to
protect the rights of both
employer and employee,

ensuring that neither party was.

worse off once NHI was imple-
mented and became the pri-
mary healthcare insurance and
financing provider in the
Bahamas.

Stipulation

For employees, this stipula-
tion was designed to prevent
employers from dropping or
modifying existing private
health insurance plans to such
an extent that the combination
of benefits this provided with
NHI was less than they previ-
ously received.

In turn, for employers this
clause was intended to ensure
they were not constrained by
industrial agreements or trade
unions from adjusting private
group health insurance plans
to take account of NHI’s
arrival.

This, the Government said,
would enable employers to
avoid making ‘double play-
ments’ on services covered by
NHI and reduce the impact
from making mandatory con-
tributions to the scheme.

In an address to a sympo-
sium on health care and the
Government’s proposed NHI
scheme, Mr Farrington said

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT

devising a benefits package for
the scheme “seems to have
become a moving target with
no transparent documented
systems as to what will be
included and why”.

He added: “The resources
required to provide cradle to
the grave coverage of all the
comprehensive benefits allud-
ed to will never be readily
available.

“It is extremely important
that the proper expectation
level is established with the
public from the outset. It is not
feasible that every member of
the public will receive the
desired medical attention,
within their timeframe and at
their particular comfort level.

“It is important that realistic
expectations are set as there
will be a heightened culture of
entitlement once funds are
being deducted from employ-
ees salaries. A detailed listing
of benefits will also afford the
private insurance companies
the opportunity to offer sup-
plemental insurance for per-
sons who desire a higher
degree of coverage and com-
fort.”

Suggested

Mr Farrington suggested
that when it came to freedom
of choice, the Bahamas fol-
lowed the Cayman Islands
model. Here, while health
insurance was made mandato-
ry through legislation, employ-
ers and employees still had the

ability to choose who their
insurance provider was.
“Concerns regarding the sus-
tainability of the proposed sys-
tem continue to absorb our
attention,” Mr Farrington

-added. “The challenge of

implementing a cost effective
yet comprehensive system is a
daunting if not an impossible
one.” :

The Government had
already indicated the NHI cost
projections would have to be
revised upwards, Mr Farring-
ton added, the Ministry of
Health having asserted that
increasing salaries will result
in increased contributions to
the scheme.

Pointed

Yet he pointed out that
salaries only rose in line with
company profits, yet the Min-
istry had criticised those firms
that had expressed concern
about NHI’s impact on their
bottom line.

“We assert that improved
profits lead to increased
salaries which lead to increased
NHI revenues. A matter of
simple economics,” Mr Far-
rington said. “It is important
that long-term projections be
presented with several scenar-
ios, while also giving consider-
ation for economic growth or
retrenchment. A thorough eco-
nomic impact assessment is
essential to the decision mak-
ing process before implemen-
tation of a NHI plan.”

No. 45 OF 2000

LANDL GROUP HOLDINGS S.A.

Notice is hereby given that in accordance with Section 137

(4) of The International Business Companies Act. 2000,

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

LANDL GROUP HOLDINGS S.A. is in dissolution. The Date

+

of commencement of dissolution was 27th day of March 2007.

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.

D. Gilbert Cassar of Nassau, Bahamas is the Liquidator of

LANDL GROUP HOLDINGS S.A.



NOTICE

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, P.O.Box N- 7147, Nassau, Bahamas.

D. Gilbert Cassar
LIQUIDATOR





JED

[SXBAHAMAS.COM FOR MORE DATA & INFORMATION
00.007 %CHG 00.00/ YTD 106.63 YTD % 06.36

Previous Close Today's Close

QOH
GPA KL

Pricing Information As Of:

Tuesday, 10 April






NOTICE













































52wk-Hi 52wk-Low Securit y Change Daily Vol. EPS$ Div $ P/E Yield
1.85 0.54. Abaco Markets 0.98 0.98 0.00 "0.282 0.000 N/M 0.00%
12.05 10.70 Bahamas Property Fund 11.59 11.59 0.00 1.689 0400 6.9 3.45% NOTICE is hereby given that FANISE SIMON OF
9.00 7.10 Bank of Bahamas 9.00 9.00 0.00 3,207. 0.737 = -0.260—S 12.2 2.89% SPANISH WELLS, ELEUTHERA, BAHAMAS is
0.85 0.70 Benchmark 0.85 0.85 0.00 0.265 0.020 3.2 2.35% applying to the Minister responsible for Nationality and
1.26 Bahamas Waste 2.30 0.00 0.199 0,060 11.6 2.61% Citizenship, for registration/naturalization as a_ citizen
1.12 Fidelity Bank 1.30 0.00 0.170 0.050 7.6 3.85%f of The Bahamas, and that any person who knows any
9.00 Cable Bahamas 10.35 0.00 0.915 0.240 3 Boe reason why registration/ naturalization should not be
1.67 Colina Holdings 2.10 0.00 0.078 0.040 26.9 1.90% granted, should send a written and signed statement of
9.99 Commonwealth Bank 14.19 0.00 1.084 0.680 13.1 4.79% the facts within twenty-eight days from the 4th day of
4.22 Consolidated Water BDRs 4.72 0.11 0.118 0.045 404 0.94% . iar ; ; .
2.40 Doctor's Hospital 246 0.00 0295 0.000 83 0.00% April, 2007 to the Minister responsible for Nationality
5.54 Famguard 5.94 0.00 0.552 0.240 10.8 4.04% and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.
10.99 Finco 12.49 0.00 0.779 0.570 15.7 4.58%
11.50 FirstCaribbean 14.61 0.00 0.977 0.500 15.0 3.40%
10.42 Focol 17.06 0.00 1.644 0.510 10.4 2.99%
0.50 Freeport Concrete 0.50 2,000 -0.432 0.000 N/M 0.00%
7.10 ICD Utilities 7.25 0.532 0.100 13.6 1.38% N OT! C [E
8.52 J. S. Johnson 0.588 0.560 15.4 6.19%
_ Premier Real Estate 269 0.795 7.9 7.95%
is — NOTICE is hereby given that FEDNA PETIT-BEAU OF
52wk-Low mbo EPS$ _Div$ PIE Yield P.O. BOX SB-41300, NASSAU, BAHAMAS, is applying to
12.25 Bahamas Supermarkets 14.60 1.766 1.125 =8.8 7.71% the Minister responsible for Nationality and Citizenship, for
10.00 Caribbean Crossings (Pref) 8.00 0.000 0.640 NM 7.85% registration/naturalization as a citizen of The Bahamas, and
0.20 RND Holdings 0.021 0.000 26.2 that any person who knows any reason why registration/
~ CS naturalization should not be granted, should send a written
28.00 ABDAB 2.220 0.000 19.4 and signed statement of the facts within twenty-eight days
14.00 Bahamas Supermarkets 14.00 1.770 1.320 8.3 9.04% from the 11th day of April, 2007 to the Minister responsible
coon OtA9 D:070 O00 9.00% for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
ted MutualFunds | Bahamas.
YTD% Last 12 Months Div $ Yield %
Colina Money Market Fund 1.334677" ;
Fidelity Bahamas G & | Fund 3.0988***
Colina MSI Preferred Fund 2.649189"* Se eS < ‘ ! Ay ;
Colina Bond Fund 1.238600"*** . SS , FO R LE
Filly Prine Income Fund 13.3045" BUSINES: SA
ee FINDEX: CLOSE 793.36 / YTD 06.91% / 2008 34.47% Mes . Sak
RE INDE: 02 = 1,000. MARKET TERMS YIELD - last 12 month dividends divided by closing price NAV. KEY. Rea ‘ ; : se ‘ ; ss
52wk-Hi - Highest closing price in last 52 weeks Bid $ - Buying price of Colina and Fidelity cH n Well established Fashion Retail
52wk-Low - Lowest closing price in last 52 weeks Ask $ - Selling price of Colina and fidelity * 90 March 2007 wi 3 x : ; :
Previous Close - Previous day's weighted price for daily volume Last Price - Last traded over-the-counter price j Business. Well known and
Today's Close - Current day's weighted price for daily volume Weekly Vol. - Trading volume of the prior week +. 31 March 2007 ¥ ; . 3
Change - Change in closing price from day to day EPS $ - A company's reported earnings per share for the last 12 mths ,
} Daily Vol. - Number of total shares traded today NAV - Net Asset Value “44 January 2007 respected worldwide. Fra nchise.
4 DIV $ - Dividends per share paid in the last 12 months N/M - Not Meaningful Hy hy
PIE - Closing sisduided a the last 12 month earnings FINDEX - The raat Bahamas Stock Index. January 1, 1994 = 100 *~ 34 March 2007 20 ATL eh STL oh me location.
ee - 8 February 2007



Email: b.inquiries@gmail.com



202-802-7010 / FIDELITY 242-366-7764 / FOR MORE DATA & INFORMATION CALL (242) 304-2503

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_ THE TRIBUNE

WEDNESDAY, APRIL 11, 2007, PAGE 7B —





Dividend funds can
offer more than just
reliable income

@ By TIM PARADIS
AP Business Writer

NEW YORK (AP) — Divi-
dend funds once held an image
of a reliable teammate — not a
player languishing on the
bench but also not the one
drawing accolades from fans.

But dividend funds can be
more than a reliable invest-
ment paying dividends even
when stocks themselves are

‘+ sputtering; not only do their
-lunderlying stock prices offer
’ the chance for appreciation,
_. ‘the dividends themselves may
‘also be on the rise.
Companies that pay divi-

tends some investors now look
at dividend funds as a partial
substitute to bonds.

While she cautioned that
stocks are naturally more
volatile than bonds, she notes
that more companies in the
Standard & Poor’s 500 have
begun paying dividends and
have more readily increased
the amount of the payments
since the tax-law changes.

“If you’re a dividend-
focused fund, your hunting

ground tends to be the kind of

companies that are in the S&P
500,” said Christopher Davis,
an analyst at investment
research provider Morningstar

Fund.

He contends, for example,
that a company with a dividend
yield of two per cent and with
sizable potential could be a
better bet than a company with
a four per cent yield but with
less hope for growth.

“Vl sacrifice some current
yield for confidence in long-
term dividend = growth
prospects.”

Traditionally, dividends were
favored by retirees who
depended on them to supple-
ment their income. Taylor not-
ed that investors not soon fac-
ing retirement perhaps would-
n’t immediately need the

also be careful about choosing
a dividend fund simply because
it has a high yield.

“You want to make sure the
fundamentals underlying that
fund are sound. Don’t be bam-
boozled by a high yield, or a
high star rating or by flashy
short-term returns because
they may not tell the whole
story,” he said.

Dan Genter, president and
CEO of RNC Genter, said
when considering whether to
invest in a dividend-paying
stock he focuses on the com-
pany’s balance sheet, its com-
mitment to maintaining and
increasing a dividend as well

UBS

UBS (Bahamas) Limited is seeking a suttably qualified individual to join our growing and dynamic
team as a:

Private Client Document Specialist

The main duties of this position are:

© Review of client documentation

‘+ Account opening and maintenance
«Addressing client advisors’ requests and queries
+ Handling client correspondence

© Management reporting

Candidates must possess:

Strong organizational skills

Strong written and verbal communication skill

Ability to multi task

Strong knowledge of "know your customer" requirements

High level of self-motivation and ability to work independently
Attention to detail, accuracy and commitment to service excellence
Proficiency in MS Office Applications

Bachelors degree or above in Business Administration or Accounting



Prior experience performing similar duties at a supervisory level in a private bank or trust
company is an asset.

dends and the funds that track _ Inc. . income brought by bigger div- as the strength of company’s ,
them have grown more attrac- e idends — but that doesn’t — growth prospects. cea
tive’ to some investors since Companies mean these aren’t good invest- He said that while many Pease send your wrtten application to

lawmakers reduced taxes divi-
dends face in 2003.

Judith Saryan, a portfolio
- Manager at Eaton Vance
-. Investment Management, said

dividends are also now seen as

a more wise use of a compa-

ny’s cash.

. “One of the best things a
-: board of directors can do to
‘> Show a company is healthy is to

pay and to grow a dividend,”
_ She said. |

- “Companies were just chas-
"- ing capital appreciation at all
_costs. They really did not focus
. on dividend growth, so we had
a decade in the 1990s where

dividends didn’t really con-

tribute much to total return.”

. Saryan, who helps run the

Eaton Vance Tax-Managed

Dividend Income Fund, con-

The large companies of the
S&P 500 are different from,
say, startup technology com-
panies that often choose to
reinvest their money in the
company rather than make a
payment to shareholders.

Not all small companies are
overlooked by dividend funds,
however. Some funds concen-
trate on dividend growth
rather than the current size of
the payments.

“If you can find companies
that you think have a high like-
lihood of consistent and sig-
nificant dividend increases for
a long time to come then
you’ve got some real poten-
tial,” said Donald Taylor, a co-
portfolio manager at the
Franklin Rising Dividends

ments for them. Even if retire-
ment isn’t nearby, investors
uneasy about the economy’s
direction might find some secu-
rity in them, he said.

“In weaker markets there
generally is a focus on divi-
dends and in periods of volatil-
ity they have held up pretty
well,” Taylor said.

Davis noted that because
many mutual funds incorpo-
rate the word “dividend” into
their names, investors “have
to look under the hood” to
determine whether a fund is
appropriate for them.

“A dividend going from two
cents to five cents is an
increase but it’s not going to
yield much. It’s not going to
pay the rent.”

Davis said investors should

investors once simply debated
what mix of stock and bond
funds to hold, some are
increasingly looking to shoe-
horn dividends funds alongside
other investments as the pos-
sibility of a lengthy retirement
increases.

“Where 15 years ago pulling
in the horns would’ve meant
going to fixed-income, now it
means you just go a more con-
servative asset class.”

hrbahamas@ubs.com

or

UBS (Bahamas) Ltd.

Human Resources

P.O, Box N-7757

Nassau, Bahamas

Attn: Private Client Document Specialist





gE

SUPPORT PROGRAMME FOR TRANSFORMING EDUCATION AND TRAINING (SPTET)
The Government of The Bahamas (GOB) has secured a loan from the Inter-American Development ~
Bank (IDB) in the form of the Support Programme for Transforming Education and Training aon we
to facilitate the development of a dynamic education and training system that is aligned with the cate.
demands of the economy for skilled human resources, The objective of the operation is to contribute
to the internal and external efficiency of the education system through a series of targeted interventions
that: (i) prepare young Bahamian children for early academic success and social integration; (ii)
facilitate the seamless transition of Bahamian youth from school to work; and (iii) strengthen the
capacity of the system to effectively use technology through the identification and implementation aaa
of core competencies in E-Literacy for both teachers and students. ae
The Support Programme for Transforming Education and Training (SPTET) requires to fill —
the following positions:

(1) ICT SPECIALIST
The ICT Specialist will provide leadership and support to the Department of Education on the use
of technologies to enhance learning from a pedagogical perspective.
Minimum Qualifications
Bachelors degree, a Masters degree preferred in Instructional Design, Educational Technology or
equivalent; at least four years experience in the instructional,use of technology for the improvement
of teaching and learning.

Bahamas Electricity Corporation

VACANCY NOTICE

‘STAFF ACCOUNTANT
FINANCE DIVISION

’ A vacancy exists in the Corporation for a Staff Accountant in the Finance
Division.

(2) WEB ADMINISTRATOR

The Web Administrator is responsible for supporting websites, intranets and related web
technology projects throughout the organization. This position is responsible for multiple aspects
of website administration and support including development, testing, monitoring, vendor relations
and the underlying hosting infrastructure.

Minimum Qualifications

Bachelors degree in Computer Science or Computer Information Systems including Professional
Certifications and 5 — 6 years experience; Associate’s degree in Computer Science or Computer
Information Systems including Professional Certifications and 7 — 8 years experience; Appropriate

The Staff Accountant is responsible for ensuring, the proper accounting for certifications based on the tools required to be used.

all projects related activities, which includes proper billing, and monitoring

; 5 . . : 3 B S
of receipts of miscellaneous receivables and managing the fixed asset register. oe

The Database Administrator provides technical support, centralized control, implementation, and
monitoring of the organization’s databases. Coordinates changes to computer databases, test and
implements the database applying knowledge of database management systems. Plans, coordinates,
and implements security measures to safeguard computer databases,

Minimum Qualifications

Bachelors degree in Computer Science or Database Administration and a minimum of four years
experience in database administration.

The duties and responsibilities for this job is as follows, but not limited
to:

¢ Assist in the management of the Finance Department which primarily
include: the preparation of disbursements; management of vendor
accounts; and management of payroll (4) NETWORK/SECURITY ADMINISTRATOR

The Network/Security Administrator will manage the LAN performance and maintain the LAN

security which includes installation, maintenance and monitoring the operation of the local area

network. ,

Minimum Qualifications & Experience

Associates degree in Computer Information Systems or Computer Science including Professional

Certifications, MCSE or CAN and 6 ~ 7 years applicable experience; Bachelor’s degree in Computer

Information Systems or Computer Science including Professional Certifications, MCSE or CAN

and 4-5 years applicable experience

Analyzes monthly financial information and reports

Evaluate and summarize the Corporation’s current and projected financial
position

Ensure timely reporting on specific and general departmental
responsibilities; and any other duties as assigned
(5) TECHNICAL SUPPORT OFFICER
The Information and Communication Technology (ICT) Helpdesk will receive calls from users and
ensure that those calls are logged and provide technical assistance and maintenance to the schools
and organization’s hardware and software.
Minimum Qualifications

Bachelors degree in Information Technology or Computer Information Systems including Professional
Certifications and 2 — 3 years experience; Associate's degree in Information Technology or Computer
Information Systems including Professional Certifications and 4 - 5 years experience.

Monitors compliance with generally accepted accounting principles

. The incumbent should also have:

A Bachelors degree with certification in Accounting ACCA/CPA or
equivalent qualifications

° Excellent written and verbal communication skills

¢ Strong analytical abilities and skills

° Effective leadership skills

° Good time management, and

¢ Strong interpersonal and human relation skills

All interested persons must submit Curriculum Vitae/Resumes so as to arrive no later than
Friday, April 27, 2007 and addressed to:

The Permanent Secretary

Ministry of Education, Science & Technology
P. O. Box N 3913/14 e

Nassau, The Bahamas

Attention: John Haughton

IDB PROJECT MANAGEMENT UNIT
Telephone: (242) 325-5200/4748

Fax: (242) 325-4660

Email: jhaughtonidbproject@ yahoo.com

& gmajoridbproject @yahoo.com

Interested persons may apply by completing an returning an Application
Form to: The Manager — Human Resources & Training, Bahamas
Electricity Corporation, Blue Hill & Tucker, P.O. Box N-7509 Nassau
Bahamas on or before April 20, 2007.





PAGE 8B, WEDNESDAY, APRIL 11, 2007

THE TRIBUNE,



DEG
Developers accepting reservations.
for pre-sales of residences

m@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

: he developers for Port
: | Terra Nova, a bou-
tique, upscale residen-
tial development planned for
Grand Bahama, are accepting
reservations for pre-sales of
residences, The Tribune was
told yesterday.

Shannon DeFries, of Aqua-
marine Realty, said pre-sales
were going well, with poten-
tial homeowners showing a lot

of interest in the property.

Port Terra Nova is a newly-
proposed 29-unit residential
complex, which is to feature
penthouses, garden residences
and town houses, with 35-80
boat docks.

It will be located one mile
east of Freeport’s Port Lucaya
destination, and will be devel-
oped by Port Terra Nova
Development Company at a
location called Smith’s Point.

Ms DeFries said the mini-
mum $700,000 per unit asking
price, which includes boat
docking is considered, very

affordable and attracting inter-
est.

She explained that the ten-
tative starting date for Port
Terra Nova was June |, but
added that there could be
some delay pending the results
of the May 2 general election.

Ms DeFries described the
project as unique in that it was
very rare to have the contrac-
tor, developer and architect all
being the same person.

The project is being devel-
oped by Bahamian Donald
Dean, of The Architects Incor-
porated, a Grand Bahama-

based architectural, planning
and interior design firm, and
US developer Paul Kalomaris.

Ms DeFries said it was hard
to predict the impact the pro-
ject will have on the Grand
Bahamian economy, but
added: “I can only see it having
a big impact.”

She added that many clients
were interested in buying vaca-
tion investments in Grand
Bahama.

The phase one ‘founders’
programme will offer units
ranging in price from $764,000
to $1.065 million. That pro-

gramme is to be launched this
week, with the developers
intending that it allow prospec-
tive buyers an early opportu-
nity to become involved at
“pre-construction prices, 50 per
cent below the current
Bahamian market compara-
bles.”






development aims to
it Freeport’s and Grand
Bahania’s proximity to Florida,
especially areas such as West
Palm Beach, where a large
number of wealthy, high-net
worth United States residents,
live — the ideal target market

for second home residences in
the Bahamas.

In common with the Grand

Bahama Port Authority

- &

>

(GBPA) and Grand Bahama’ -*-’-
Development Company (Dev-*.*.

co), Port Terra Nova Devel-
opment Company views Grand
Bahama as an ideal second
home location, given that most
coastal areas in Florida are
now fully-developed and there
is no to little room left for con-
struction.

Up to press time last night,

' The Tribune was unable to

reach Mr Dean for comment.

Hilton marina project part of ‘PM’s vision: .

investment house.

Mr Farkas indicated that IGY was
looking at alternative sites for its
project, in case Adurion did not
return to the “original terms” of the joint venture agreement with the
British Colonial Development Company. -

The Government’s chief investment negotiator, Sir Baltron Bethel,
who is also the Hotel Corporation’s deputy chairman and managing
director, is understood to have met with Adurion executives over
their Hilton investment and the IGY project while in London last
month for his knighthood.

As reported previously, it is understood that while Sir Baltron
communicated the Government's eagerness to see the IGY project
move forward, it was reluctant to intervene in negotiations between
two private sector parties on a commercial transaction.

Contacts familiar with the situation said that both CCWIPP and
Adurion wanted the IGY project to happen, and all three parties
were agreed on the end objective.

The only difference currently was over how to get there, with Adu-
rion wanting to redraft the joint venture IGY agreement to ensure the
deal made sense to all sides and was the most efficient, effective way
of working things.

An economic impact study predicted that the downtown Nassau
IGY project would generate “very substantial employment”, creating
700 direct full-time jobs and another 400 indirect permanent jobs for

FROM page 1B



SUMMERVILLE
COMING SOON TO H.G. CHRISTIE LTD.
A new gated community centrally located
"with houses from $240,000 pre-construc-
> tion prices.

“

; at Do not miss this opportunity, call
~. H.G.Christie Ltd. and register your name

“. > witha fully refundable reservation deposit
of B$5,000.

Sales Agents:
Vicky Knowles Andrews. Cell: 357-9670
Samara Knowles. Cell: 359-2542



Bahamians. The indirect jobs will be created at suppliers of goods and . oe
services to the development, and through services provided to yachts. @ MINISTER OF FINANCIAL fete
The study also forecast that the IGY development would create 200- SERVICES & INVESTMENTS fe as!
250 full-time jobs during construction, and has a total economic VINCENT PEET — —
impact of $222.8 million over a 20-year period. (FILE photo)



Credit Suisse Nassau |
Branch

is presently considering applications for a

FINANCIAL CONTROLLER

The position is open to candidates with the following minimum requirements:



BAHAMAS ELECTRICITY CORPORATION

VACANCY NOTICE

DATABASE ADMINISTRATOR
INFORMATION TECHNOLOGY SERVICES DEPARTMENT .
FINANCE DIVISION ;

A vacancy exists in the Corporation for a Database Administrator in the
Finance Division.

Main tasks:

Ensuring that the Branch’s books and records are accurately recorded on a timely

basis _

Reconciling profit and loss for various product types covering loans, derivatives,

structured notes and subordinated debt

¢ Preparing all Branch, Group and Regulatory reporting to specific reporting ES
deadlines under US GAAP and Swiss GAAP Pel.

ica : ‘ s eu © Preparing of reports for Senior management in London and New York }

The Database Administrator 1s responsible for planning, designing, ° Baste mae all Balance Sheet accounts are substantiated

implementing and maintaining efficient operations of corporate databases and ¢ Involvement in various investment banking and Group accounting issues and

preparation of logical data base design for in-house application development. projects -

. e Advising front office on structuring trades for the Branch

¢ Managing the assistant controller and influencing peers both in Bahamas and

The duties and responsibilities for this job is as follows, but not limited other offices

to: ,

Requirements:

To participate in Information Systems development and implementation . tks vis
P P y P ; P ¢ CPA or equivalent qualification

ams. me : : ees : Boi
; . fin dimol darn teva s is forall fete = ¢ A minimum of 7 years’ post qualification experience in the banking industry

efines and implements data leve ay or all corporate atabases. with at least 3 years experience in investment banking essential
* Manages data migration/conversion issues during system installations. * Knowledge of US GAAP especially for derivatives and structured products
¢ Defining, establishing and operating databases for executive information ¢ Experience with working with multicurrency trial balances and a full understanding |. J.

needs. of foreign exchange risk management
* Develops procedures for the integration of corporate systems.
° Defines, establishes and operates a database to serve Document Management | Personal Qualities:
System requirements. *.*.
° Leading and participating on committees assessing business information f ¢ Acommitment to service excellence . Tabet
technology needs. e Ability to work under pressure and with minimum supervision )

¢ Manages installation of release upgrades to installed RDBMD products. * Good organizational and interpersonal skills
° Ability to work independently

° Facilitates smooth transition of all business systems vendor upgrades. « Good IT sails
The successful candidate should also possess: Benefits provided include: :

¢ A Bachelors degree in Computer Science or equivalent qualifications ¢ Competitive salary and benefits ‘

¢ Sound working knowledge of relevant database management systems :

¢ Sound knowledge of computer programming ; / ;

¢ Strong analytical skills and time management skills APPLICATIONS MUST BE IN WRITING,

¢ Ability to communicate effectively both orally and in writing Persons not meeting the minimum requirements need not apply. ste’
NO TELEPHONE CALLS WILL BE ACCEPTED. y ee

* Five years computer experience in a technology/data processing

environment a
Applications should be submitted to:

Human Resources Department
P.O. Box N-4928
Nassau, Bahamas

Interested persons may apply by completing an
returning Application Form to:

The Manager-Human Resources & Training,
Bahamas Electricity Corporation,
Blue Hill & Tucker Roads, P. O. Box N-7509 N issau, Bahamas
on or before April 20, 2007.

| DEADLINE @ vccew OF APPLICATIONS IS APRIL 18, 2007.

CrepirSuisseâ„¢ EE
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‘m Lhe Tribune

i'm lovin’ it.

CLOUDS, SUN, |

ee ESTORM

Volume: 103 No.115



Che Miami Heral

BAHAMAS EDITION

WEDNESDAY, APRIL 11, 2007








Binkea is bahy’s father

RE CT aati
out on CSME intentions

SEE FRONT PAGE OF BUSINESS SECTION

DNA test results
revealed in court

® By PAUL
TURNQUEST
Tribune Staff Reporter

LARRY Birkhead was jubi-
lant yesterday as he
announced outside the
Supreme Court that he is def-
initely the biological father of
Anna Nicole Smith’s six-
month-old daughter Dan-
nielynn.

DNA tests were conclusive-
ly in his favour when they
were revealed in court, bring-
ing to an end the seemingly
- endless wrangle over the
’ child’s paternity.

Mr Birkhead smiled broad-
ly as he faced the crowd while
his rival, Howard K Stern,
looked downcast and dis-
traught.

Mr Birkhead had been bat-
tling the former Playboy Play-

mate’s companion over pater-
nity for months. But his confi-
dence in the outcome proved
well founded.

“T told you so!” Mr Birk-
head screamed, as he left the
court of Justice Stephen Isaacs
yesterday.

Immediately, cheers erupt-
ed from the crowd gathered
outside.

“What’s next for you Lar-
ty? What’s next!” onlookers
asked.

“There's certain things I
can’t talk about. But this is
one I’m happy to talk about.
Nothing is really determined,
except for parentage. It’s a
long journey and I’m just hap-
py to have this behind me,”
he said.

According to Dr Michael

SEE page nine

‘No health risks’ for homeowners
in eastern Shirley Street area

@ By KARIN HERIG
Tribune Staff Reporter

THERE are no health risks for homeowners in the eastern
Shirley Street area despite the occasional and limited petroleum
contamination of the ground water by a service station.

This was the statement of both the operators of the station in
question — Chevron Bahamas Ltd — and the Department of Envi-
ronmental Health, in view of increasing concerns among the area’s

residents.

Ron Pinder, parliamentary secretary in the Ministry of Energy
and Environment, explained that the station is currently being

SEE page nine

star

aT

AUTO INSURANCE

UT

yay
( we) ‘



a



MANAGEMENT |

URANCE BROKERS & AGENTS

Feuthera | Fm |
Wels (242) 332-2802 | Tel: (24) 336-2904



SIN EANC /
De Vio toads







eS



PAC ULC ICO SI. ae



poo







@ LARRY BIRKHEAD (left) and Howard K Stern outside of court yesterday

(Photos: George Smith)

New crime chief: expect to see
more senior officers on front line

@ By BRENT DEAN

police officers, including Chief Supt Glenn



"IF YOU are in the business of taking the
lives of other people, the Bahamas is not the

place tor you."

This bold declaration was made yesterday
by the new crime chief, Senior Assistant Police
Commissioner Elliston Greenslade, in a press
conference that marked a shift of power in the

force.

Mr Greenslade, who officially took over the
portfolio last Wednesday from his predecessor,
Senior Assistant Police Commissioner Regi-
nald Ferguson, was accompanied by Assistant
Commissioner, James Carey, and other senior

Miller, head of CDU.
Mr Greenslade said the haemorrhaging must
stop, regarding the wave of violent crime that

has gripped the Bahamas over the first quarter

of the year. Currently, the murder rate stands
at 24, as compared to the 13 murders that
occurred over the same period last year. If the
current rate of killings persists, the Bahamas is

on pace for more than 80 murders this year —a

dubious record for the country.
In an effort to reverse this trend, Mr
Greenslade said that the public should now

SEE page nine

Pregnant woman among four
drowned illegal immigrants

@ By DENISE MAYCOCK
Tribune Freeport
Reporter _ -
FREEPORT ~— An illegal

smuggling operation ended in

tragedy when four persons
among them a pregnant Hait-
ian woman — drowned when the
vessel they were on capsized
late Wednesday evening in
rough seas off Eight Mile Rock.
According to reports, a group
of about 47 illegal immigrants of
various nationalities, mostly

Haitians, were cramped
onboard a 25Sft speedboat head-
ed for Miami when it over-
turned in waters around 10pm.

The victims — two women
and two men — were all Hait-
ian nationals. Bahamian author-
ities are still searching the sur-
rounding waters for other pos-
sible victims.

In the meantime, four Haitian
women, who were found hud-
died together on the beach, are
in custody. One of the women
was admitted to hospital for



eC uy Wall wa
ey RST fee ach



'
OU aa

mGarouua a

aN

shock as a result the incident.

Chief Supt Basil Rahming
said the bodies of a pregnant
black woman and a black man,
believed to be Haitians, were
discovered on the shore at
Lovers’ Beach, Eight Mile
Rock, around 10.40pm when
police and immigration officials
arrived in the area.

He said a third body, which
was that of a black man, washed
ashore near the eastern end of

SEE page nine



CMM OL POP RAGs Mihi o Mei rene Oy

os Be

i eaee bea]

TOE Ceoan Pers Uae ity oe en



Se Ea SR BU UT es

Do Breakfast.

PRICE — 75¢





Voters turned
away early from
collection point

CONFUSION led to anger yes-
terday among voters trying to col-
lect their voter's cards in the Mon-
tagu constituency, as they were
turned away from the publicised
collection point by security guards.

Members of the public were
denied access to Queen’s College
by security guards after 6pm,
despite statements issued by the
parliamentary registration depart-
ments stating that collection could
take place between 10am and 9pm.

The Tribune received numerous
complaints about the situation from
frustrated Bahamians.

However, Errol Bethel, parlia-
mentary registrar said that the clo-
sure of the college was only tem-
porary, due to the large number of
voters already in the school's gym,
where collections were taking place.

‘Other than this incident, card
collection yesterday appeared to
have gone smoothly, with thou-
sands of voters successfully picking
up their cards throughout the morn-
ing and into the afternoon.

Darold Miller
stages one-man

protest outside
of Gems FM

@ By ALISON LOWE
Tribune Staff Reporter

ACCUSED radio broadcast-
er Darold Miller staged a one-
man protest outside the office of
his employer, Gems FM, yes-
terday morning.

The popular radio personali-
ty — recently the subject of
complaints of a sexual nature
made to police — reportedly
arrived in the parking lot of the
station shortly after 9am, and
proceeded to read passages
from the Bible, sources claimed.

He erected two large signs on
an empty lot opposite the sta-
tion apparently protesting the
claims against him, and his sub-
sequent suspension from the
radio station.

One of the signs read
"Bahamas Loves Darold Miller,
Uplift Him", and the other,
"Thou Shalt Not Bear False
Witness."

However, the lettering was
fixed onto boards which already
had "Coca Cola" and "Dasani"

SEE page nine



URITY ALERT!






PAGE 2, WEDNESDAY, APRIL 11, 2007

THE TRIBUNE



LOCAL NEWS



Website dedicated in honour |
of Bahamian cultural icon

@ By TRIBUNE STAFF



FAMILY and friends of the
Bahamian cultural icon Viveca
Watkins, who passed away yes-
terday at the age of 55, have
created a website in her memo-
ry.

The website, http://viveca-
watkins.memory-of.com, creat-
ed by Erica Laing, pays tribute
to Viveca as: “A multi talent-
ed actor, comedienne, director,
radio and TV personality.”

“Viveca was well known and
loved by many,” it said. “Even
those who did not know her by
name often stopped her and
asked her: ‘hen you is the Car-
nation lady?’

It said that Viveca “loved her
country and took great pride in
being a Bahamian and being
able to represent the Bahamas

DEBRA Opri







Uchenna extends special thanks to her parents and family for their continued prayers and
support, She also thanks her Oakwood family especially Antoine Bowe, PTG Sentinel,

internationally. She died as she
lived — with a smile on her
face.”

A number of condolences
and tributes have been posted
on the website.

Director of Culture Dr Nico-
lette Bethel wrote an official
tribute from the Cultural
Affairs Division describing
Viveca as: “a fixture in the cul-
tural scene of the Bahamas —
actress, comedienne, writer, per-
sonality, celebrity, and all-round
consummate performer.

“We will miss her more than
we can measure at this time,”
the message said.

Eddie Carter of Island FM
wrote: “On behalf of the entire
Island FM family and the Carter
family we send true heart felt
condolences to the entire fami-
ly. Viveca’s talents will be





,. yeoma

on the passing dt the CPA Examinations

Uchenna C. lieoma is a 1995 graduate xf Queen’s College. She studied at The College of
The Bahamas for one year before joining Providence Technology Group (PTG}. In 1999,
lieoma pursued her Bachelor's degree at Oakwood College, in Huntsville, Alabama.

In 2002 she completed her degree and joined the team at Deloitte & Touche. During this
time she also served as Treasurer at the Living Faith, Seventh Day Adventist Church. In
June of 2005 she gained some experience working at Sentinel Bank & Trust. She then
rejoined the Deloitte team in September 2006.

Deloitte, and Living Faith family,

Uchenna expressed that she is “blessed and relieved to be finished."
She also encourages others studying for the CPA exam to “believe that you can achieve
if because it is attainable and at the end of it all you will be very happy.”

loitte.

EongrallelD

missed by ALL.”

Historian and head of the
Department of Archives Gail
Saunders sent a message to the
family which read: “I was
deeply saddened to hear of
Viveca's death. She had such
energy, giving her all on stage.
She made a great contribution
to Bahamian theatre and will
be sadly missed.”

Viveca’s brother, former
police officer and longtime pub-
lic servant Errington Watkins,
wrote: “You have touched the
lives of so many in this your
short journey on this earth. You
brought joy to all the lives you
touched. May your rest in peace
my dear sister.”

Those wishing to add their
own tributes to Viveca can do
so at the aforementioned web
address.





Birkhead’s former lawyer
sends congratulations
after custody battle victory

LARRY Birkhead’s former
attorney Debra Opri says she
is happy about the results of
yesterday’s paternity hearing.

Opri parted ways with Birk-
head last month and has since
claimed that he has an out-
standing bill of more than half a
million dollars.

She issued a statement yes-
terday which read; “I am very
excited and happy for both Lar-
ry and Dannielynn today. | am
very proud of him and our six-
month legal fight.

“Iam proud of our strategies
during the many twists and turns
of this journey which brought
us from California, to Florida,
and finally to the Bahamas. We
may never see the likes of this
kind of case again.”








It was announced yester-
day outside the Nassau
Supreme Court that Birkhead
is definitely the biological
father of Anna Nicole Smith's
six-month-old daughter, Dan-
nielynn.

Last week, TMZ reported
that Opri had asked Birkhead
for $620,000 as payment for
her services.

Opri, who had been a con-
stant companion to Mr Birk-
head, often addressing the
media on his behalf in an out-
spoken fashion, allegedly
billed her services at $475 an
hour.

The impressive bill was said
to include payments for Ms
Opri’s personal publicist, the
time she spent on flights to
and from the Bahamas, and
a $2,467 — seafood dinner at

@ LARRY Birkhead gives interviews to the press after the

Graycliff, which Mr Birkhead
allegedly did not attend.

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

Ms Opri reportedly offered
Mr Birkhead a $100,000 dis-
count if he agrees to pay the
bill without further discussion.

The statement issued yes-
terday by Opri continued:
“Dannielynn is quite possibly
the most adorable baby I have

ever seen. My prayers and.

best wishes will forever be
with Larry and Dannielynn
as they travel down the road
of life together.”





results of DNA tests are revealed

(Photo: Mencken Rolle)

Pevnernnne aay

ee





© In brief

| Judge asked
to reconsider

bond for
Cuban militant
B@ TEXAS
EI Paso
PROSECUTORS _have

asked a federal judge to recon-
sider an order granting bond for
anti-Castro militant Luis Posada
Carriles, who is accused by
Venezuela in the 1976 bomb-
ing of a Cuban jetliner, accord-
ing to Associated Press.

US District Judge Kathleen
Cardone ordered Posada
released from a New Mexico
jail on bond pending a sched-
uled May trial on charges that
he lied to investigators in a bid
to become a naturalized US cit-
izen.

In a nine-page motion filed
Monday in El Paso, the gov-
ernment asked Cardone to
either reverse her decision
issued Friday, or hold a hear-
ing about the source of proper-
ty Posada would use as collat-
eral for his $250,000 surety bond
and whether that property
would reasonably “assure the
presence of the defendant at tri-
al.”

It was the second bid by pros-
ecutors to delay Posada’s
release. On Friday, the govern-
ment filed a motion to stay Car-
done’s order while lawyers con-
sidered whether the decision
would be appealed.

Climate change
to affect world
food and water
supplies

@ MEXICO CITY

RISING global temperatures
could make Latin America’s
melting glaciers completely dis-
appear within 15 years, send
hurricanes crashing into places
that have never seen them, stop
wheat from growing in Africa
and change the global face of
tourism, according to a UN
report released Tuesday,

according to Associated Pres: ==":
The report, written and _—

reviewed by hundreds of scien-
tists, outlined dramatic effects of
climate change, including rising
oceans, food and water short-
ages, the disappearance of
species, and intensifying natur-
al disasters. It said 30 per cent of
the world’s coastlines could be
lost by 2080.

Scientists with the Intergov-
ernmental Panel on Climate
Change provided details of the
report in news conferences
around the world Tuesday, four
days after releasing a written
summary of their findings. The
report is the second of three
being issued this year; the first
dealt with the physical science
of climate change and the third
will deal with responses to it.

In Mexico City, scientists pre-
dicted that global warming
could cost the Brazilian rain-
forest up to 30 per cent of its
species and turn large swaths
into savannah. They said ocean
levels worldwide will creep up
each year, rising 4.3 feet along
Latin American coastlines by
2080 and flooding low-lying
cities such as Rio de Janeiro
and Buenos Aires.

Polar ice caps will likely melt,
opening a waterway at the
North Pole that could make the
Panama Canal obsolete, IPCC
member Edmundo de Alba
said. Tropical storm seasons will
spawn bigger and more danger-
ous hurricanes that will threaten
coastlines not traditionally
affected by them, like in 2005,
when an unusually strong trop-
ical cyclone formed off Brazil’s
southern Atlantic coast. Its
70mph winds prompted many
meteorologists to classify it as a
hurricane, even though hurri-
canes are not supposed to occur
in the southern Atlantic Ocean.

Latin America’s diverse
ecosystems will struggle with
intense droughts and flooding
and as many as 70 million peo-
ple in the region will be left
without enough water, the
report also predicts.

By 2080, water shortages
could threaten 1.1 billion to 3.2
billion people, depending on the
level of greenhouse gases that
cars and industry spew into the
air. Water supplies will be most
diminished in areas relying on
meltdown from mountain
ranges, where one-sixth of the
world’s population lives.

That’s especially true in the
Andean mountains of Peru,
Bolivia, Ecuador, Colombia and
Venezuela, where glaciers are
already retreating rapidly, and
are expected to disappear with-
in 15 years,

0 =
Dee ake

y,

-
a |
eds Ney

vd

at
THE TRIBUNE

WEDNESDAY, APRIL 11, 2007, PAGE 3



FNM proposes to create first
- national development plan

oln brief

Easter
party held

for children
with HIV

FOR the first time ever,

SuperClubs Breezes in con-

_ junction with the Ministry of
Health’s AIDS Secretariat
hosted an Easter celebration
for the children affected by
HIV.

The Breezes family fed and
entertained the children and
their families with the sup-
port of the Fat Back Kids

Club.

' Activities included an East-
er egg hunt, an egg decora-
tion contest, an egg and
spoon race and many more
games, prizes and surprises.

According to Breezes
director of sales Donella
Bethel: “We truly enjoy par-
ticipating in the activities and
interacting with the children
at these events.

“This is certainly the first
_-of many as we at Breezes
Bahamas have committed
our continued support and
dedication to Ministry of
Health and Bahamas AIDS
Secretariat”.

Mary Ann
Dupuch

- dies after
long illness

MRS Mary Ann Dupuch,
wife of Mr Bernard Dupuch,
died at the couple’s
Seabreeze home at 1.30pm
yesterday after a long illness.

Mrs Dupuch is survived by
her husband, their son,

’ Anthony, daughter-in-law,
Rose, granddaughter, Alina,
her sister, Ms Wanda Bartos,
several nieces, nephews and
in-laws.

Funeral arrangements will
be announced later.

Jamaica
police report
'. Marijuana
seizure rise

B JAMAICA
‘Kingston

‘ POLICE in Jamaica have
seized more than 20,000 kilo-
grams of marijuana so far this
year, more than half the
amount collected all of last
year, the chief of the nar-
cotics division said Monday,
according to Associated Press.

Superintendent Carlton
Wilson said -marijuana has
gained favour as an export

. -due to a decline in the
- cocaine supply in Jamaica,
where suspected major
cocaine traffickers have been
arrested in recent years.

Jamaica is the Caribbean’s

' largest producer and exporter

of marijuana, according to a
report last month by the US
State Department. Marijuana
plants are grown mostly on
mountain hillsides or hidden
among other crops.

“We have noticed that per-
sons are cultivating it in areas
inaccessible to police,” Wil-
son said.

Puerto Rican
journalist

Gaspar Roca
passes away

® PUERTO RICO
San Juan

GASPAR Roca, a journal-

ist who founded the Puerto
Rican daily El Vocero and
directed it for more than
three decades, has died, his
family said Monday. He was
80, according to Associated
Press.
_ Roca died of respiratory
failure Sunday at his home
‘in the Hato Rey section of
San Juan, according to a
statement by his family.

A native of Yauco near the
Caribbean island’s southern
coast, Roca founded El
Vocero in 1974 and worked
as its editor until his death.
The newspaper is considered
one of the major dailies in
the US territory, with a cir-
culation of 132,000.

Oscar Serrano, president
of the Puerto Rico Journalists
Association, credited Roca
with improving press free-
dom on the island by pushing
several court challenges
including a 1980s case in
which the US Supreme Court
opened preliminary criminal
hearings in Puerto Rico to
the public.

@ By RUPERT MISSICK Jr
Chief Reporter

THE FNM is promising that
if elected, they will begin the
task of creating the country’s
first ever national development
plan to take the Bahamas into
its 50th year of independence
and beyond.

The party said in its weekly
commentary that if it wins the
government in the May 2 elec-
tion, it will establish a national
planning unit attached to the
Office of the Prime Minister
that will oversee an extensive
collaboration process which will
lead to the creation of this 15-
year plan.

“The collaboration process to
craft our national plan will be as
important as the plan itself. A
robust collaborative process will
enable us to march together to
that common loftier goal men-
tioned in our national anthem,”
the FNM said.

The proposed unit will co-
ordinate the activities of differ-

ent working groups who will
study and make recommenda-
tions on issues such as educa-
tion, culture, national security,
land policy, economic develop-
ment and so on.

A primary goal of this process
will be “the cultivation and har-
nessing” of “authentic Bahami-
an Imagination”.

The opposition proposes that
the plan will promote human
dignity and secure “the
Bahamian dream for more
Bahamian”; preserve the coun-
try’s natural resources and cul-
tural and historical heritage;
develop the country’s human
resources; and help the coun-



try achieve the UN’s Millenni-

um Development Goals
(MDGs).

Among other things, the

* MDGs include halving extreme

poverty, halting the spread of
HIV/AIDS and providing uni-
versal primary education, all by
the target date of 2015.

Consultation

The FNM said that it will
consult all stockholders
throughout the Commonwealth
including civil society groups,
civil servants, co-operatives, the
church, corporate citizens and

talented Bahamians abroad.

“We will realise the dream of
genuine local government by
making them full partners in the
process of national strategic
planning. We will debate our
future not just around the cabi-
net table and in parliament but
also in our homes and commu-
nity meeting places,” the party
said.

The objective of the whole
exercise, the opposition said,
will be a Bahamas of greater
justice and equality, freedom
and opportunity, safety and
security, and national pride and
confidence. We can seize
tomorrow if we start planning
today.

“When the sun inevitably sets
for one generation, they should
consider themselves blessed if
they have empowered a new
generation to lift up their heads
to the ever-rising sun.

“Because of their tunnel
vision, dismal record and poor
performance, the PLP wants us
to believe that this election is

just about their selective mem-
ory of the past and the ghosts
that belong to that past,” the
opposition said.

By contrast, the FNM said it
understands that this election
is about the Bahamian people
and our shared future.

“In just 16 years — 2023 — we
will celebrate the 50th anniver-
sary of our independence. No
one knows what the political
landscape will look like at that
timé. However, we know that
on some basic issues we must
fashion a national consensus
and practical plans that aren’t
casually tossed aside whenever
a new government is elected,
the FNM said.

Governments, the party said,
waste time, money and other
resources because of a lack of
planning.

“There is too much crisis
management and ad hoc deci-
sion-making. We need to cre-
ate a culture of planning and
forward thinking,” the FNM
said.

Businessman Wilson accuses FNM of
manipulating radio show comments

@ By RUPERT MISSICK Jr
Chief Reporter

WELL KNOWN business-
man and former PLP MP for
Grants Town Franklyn Wilson
hit out at the FNM for what he
described as the “manipulation”
of comments he made during a
radio show.

The comments were later
used to form a significant por-
tion of an advertisement spon-
sored by the FNM.

The radio advertisement has
Mr Wilson praising the FNM
for the establishment of the
Bahamas International Securi-
ties Exchange describing it as
“one of the best things the FNM
did in office”.

Mr Wilson said that the oppo-
sition party deliberately took
the remarks entirely out of con-
text, and “manipulated the
essentials of the points”.

“The basic facts are that hav-
ing encouraged the creation of
BISX, the FNM went back on
it’s word and did not support it,
as the FNM government had
promised to do. It was the PLP
government that helped to save
BISX through increased finan-
cial support and more impor-
tantly through progressive poli-
cies which have led directly to
investors in companies listed on
BISX having accumulated hun-



a FRANKLYN Wilson

dreds of millions of additional
wealth,” he said

While he said that the idea
to create BISX was a good one,
the FNM government having
encouraged the formation of
the exchange, then turned and
did a tremendous disservice to
the entire investing communi-
ty.

As a part of its efforts to pro-
mote the formation of BISX,
Mr Wilson said that the FNM
made certain promises, in terms
of initiatives it committed to
take to help encourage the suc-
cess of the enterprise.

These promises played a sig-
nificant role in causing various
Bahamian companies to put
money into BISX, he said — but
the FNM never fulfilled the key
promises.

“As a result, BISX did not
perform as expected and by
May 2002 had come close to
actual failure. It was left to the
PLP government to save the
enterprise and help to keep
BISX alive,” Mr Wilson said.

The businessman also
claimed that the PLP caused
BISX to become increasingly
relevant because their overall
economic policies created a cli-
mate in which Bahamians who
had invested in companies listed
on BISX enjoyed unprecedent-
ed levels of economic benefit—
17 per cent in 2004, 26 per cent
in 2005 and 34 per cent in 2006.

These benefits, he said, trans-
late into hundreds of millions
of dollars and have been wide-
spread — as 7,000 to 10,000
Bahamians have invested
directly in the companies listed
on BISX and some 15,000 oth-
ers have done so via pension
funds.

“This is a phenomenal record
which could only have been
achieved if Bahamian investors
were satisfied with the future
prospects for companies listed
on BISX; a clear manifestation

Fresh claims emerge in Ricardo
Smith vs John Marquis battle

PROTEST leader Ricardo
Smith, who has been described
by critics as “the ugly face of
the PLP”, has allegedly admit-
ted that the only gripe he has
against The Tribune’s manag-
ing editor is that he is white.

His confession came during
a conversation with a Bahamian
businessman — himself a PLP
supporter — who asked him out-
right what he had against vet-
eran journalist John Marquis,
and what evidence had of him
being a racist.

The businessman told The
Tribune: “He replied that Mr
Marquis had done nothing to
justify his claims. He said the
only problem with the editor
was that he was white.”

The businessman said he felt
compelled to pass on this infor-
mation to The Tribune “because
I can’t stand the kind of fool-
ishness that’s going on at the
moment.”

He was referring to an adver-
tisement placed in the Nassau

Guardian last week by the so- .

called “Concerned Citizens of
the Bahamas” group — led by
Smith - which has been
described by Mr Marquis as “a
crude attempt at character
assassination”.

Guardian readers were so dis-
turbed by the advertisement
that they called the newspaper
asking if it represented their
views.

The Guardian issued a “clar-
ification” on Saturday pointing
out that it was “in no way relat-
ed to this newspaper’s editorial



@ RICARDO Smith

department.”

However, Mr Marquis said
yesterday that he was briefing
lawyers to take action on what
he called “gross and indefensi-
ble libel.”

He added: “It doesn’t matter
whether it was an editorial or
advertisement. The Guardian
published this attack on my pro-
fessional standing and they are
going to pay for it in full.”

Smith has led two demon-
strations outside The Tribune
calling for Mr Marquis to “go
home” because he has taken
exception to disclosues made in
his weekly INSIGHT column.

The editor, however, says he
has more “exciting” revelations
up his sleeve to be published
over the coming wecks.



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PAGE 4, WEDNESDAY, APRIL 11, 2007

EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

SIR ETIENNE DUPUCH, Kt, O.B.E., K.M., K.C.S.G.,

(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Good news for the environment

THE USS. Supreme Court decision spank-
ing the Environmental Protection Agency
for its refusal to regulate tailpipe emissions

was a tremendous step in the right direction '

for this country.

The justices, in a 5-4 vote, held that the

EPA cannot continue to claim it has no
authority to regulate carbon dioxide emis-
sions, one of the greenhouse gases believed
to contribute to global warming.

The EPA still has an out, unfortunately,
under the ruling. The agency may continue
its hands-off approach to regulation if it can
empitically prove that carbon dioxide and
other greenhouse gases don’t contribute to

. climate change, or explain why it won’t make
that decision.

Call me a cynic, but I imagine some smart
agency attorneys might come up with a way
to make that happen.

Nevertheless, the decision speaks volumes
about the role of the federal government in
addressing the environmental consequences
of our oil-hungry society.

The United States produces a quarter of
the world’s carbon emissions. Much of that
comes from hundreds of millions of tailpipes
on hundreds of millions of cars and trucks.

As jong as we continue to be “addicted
to oil,” to quote President Bush, we’ll have to
accept the consequences.:,

That can be worsening air Balin, health
problems and potentially catastrophic’ cli-
mate change, or it can mean a change in the
way we do business.

After Monday’s ruling, the dominoes have
started to fall.

Shortly after the decision was issued, the
EPA decided to allow California’s request to
set its own fuel economy standards. Until
now, the EPA had argued that only the fed-
eral government had the right to set such
standards.

The ruling also could affect a suit against
California by the auto industry arguing
against new standards.

Believing that human activity has a nega-
tive effect on changes in global climate pat-
terns is not necessary to see the value in this
ruling.

You need only believe that millions of cars
and trucks spewing tons of toxic fumes and
chemicals into the atmosphere isn’t good
and that the federal government should have

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a stronger role in forcing industry to cut
back.

Of course, if you are a naysayer of the
human-activity-as-an-agent-of-climate-
change theory, you may find yourself increas-
ingly frozen out of the debate.

Even Exxon Mobil, the granddaddy of oil
production, has begun to change its tune on
the issue.

First, the company’s foundation cut fund-
ing to a think-tank highly critical of the con-
cept, the Competitive Enterprise Institute.

Then. Kenneth Cohen, vice-president for
public affairs for ExxonMobil, said in a con-
ference that the company has been misun-
derstood on the matter of climate change.

“Many people want to stick us in a bucket
that says we want to deny (climate change).
That is flat wrong,” he said.

Huh?

There are two possible reasons for this
change of heart.

One, Exxon Mobil has realized it can make
a lot of money doing things in a different
way.

And, two, the evidence to support climate
change is irrefutable.

I suspect it’s a little of both.

The Intergovernmental Panel on Climate
Change, a United Nations working group,
released the second-volume of an important
report on climate change last week. The sci-

entists predict that within 25 years, crop fail-

ure and diarrhea-related deaths will threaten
water-scarce nations. Later in the century,
warm seas may lead to shellfish poisoning
and the destruction of coral reefs.

Sea level surges may also submerge small
islands and prompt tens of millions of people
living in coastal cities to seek refuge on high-
er ground.

In what can only be termed a flash of cyn-
ical optimism, Harvard University oceanog-
rapher James McCarthy — who was involved
in a 2001 version of the IPCC report — tried
to put a positive spin on the upcoming analy-
sis.

“The worst stuff is not going to happen
because we can’t be that stupid,” McCarthy
said.

Right?

(This article was written by Rebeca Chapa
of the San Antonio Express-News- c.2007).

A cautiona

THE TRIBUNE







message for
the elections

EDITOR, The Tribune

I WILL appreciate it if you
would give me space in your
paper to publish this letter;
with a hope that some of those
concerned will read it and
maybe it will make a differ-
ence.

The election season is here —

and both major political par-
ties have announced their can-
didates. Everywhere you go the

- topics being discussed are polit-

ical and conclusions are being
drawn in respect to who may
be supporting whom.

So that there is no miscon-
ception, let me say; I have sup-
ported the Progressive Liberal
Party from 1963 and voted for
the candidates of the party in
every election except one,
when I chose to do otherwise. I
make no apology for exercising
my rights of free choice; given
to me by God the Creator and
the Constitution of the
Bahamas.

1 do not support the PLP
because of any handouts or
special personal favours. I
rather support the PLP because
of the party’s philosophy and I
can identify with certain posi-
tions and stance that the
movers and shakers of the par-
ty had taken during years past;
also, because of my real life
experiences during my time of
residence in Nassau and
Freeport. However, while I
support the PLP, I reserve my
free will to agree or disagree
with any individual(s) within
the party or any other parties
as my conscience dictates on
the basis of right or wrong.

lam a native Mayaguanian
who after many years, has
recently returned home.

' Regrettably, upon my return, I

soon discovered that the
uniqueness of which I often
boasted while I was away, no
longer exists. The once friend-
ly, neighbourly, caring envi-
ronment where people took
genuine interest in the well
being of family and friends had
been replaced with separation,
suspicions, malice, greed and
in many instances just plain
hatred. A people who once
would not have eaten a meal
unless it was shared with a rel-
ative or neighbour; to a great
extent, has lost that concern
and caring disposition; and in
most cases have become selfish,
uncaring and greedy.

Lest I be misunderstood, I
thank God that there are still
some genuinely caring people

NOTICE

NOTICE is hereby given that JOEL RENALDO RUSSELL
OF CASCARILLA STREET, PINEWOOD, 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 11th 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 WILSON EDOUARD OF
SEA BREEZE, INSPIRATION 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 11th day of April, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box

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left in this community who
practice good Christian princi-
ples; but, they are so vastly out-
numbered that, that reality
often gets lost.

Just when I thought things
were bad in this regard, it got
worse and from every indica-
tion if something is not done
to reverse this trend, the worst
is yet to come (although I hope
not).

It seems that once the polit-
ical campaigning began and the
politicians started their
rhetoric, life in the Mayaguana
community is like living in two
different worlds. The PLPs and
FNMs seem to have forgotten
that politics in general is not
to be taken personally (unless
you are the subject of a per-
sonal attacked). That everyone
has a right to their political
choice and one’s choice should
not be cause for animosity or
hatred. That two people can
choose politically opposing par-
ties and still remain friends or
at the very least recognise that

there are common interests -

that require all of us working
together and co-operating with
each other in order to get the
best result for all concerned.

However, supporters on both
sides are displaying hostility
and people who once shared
jokes and laughter are now dis-
playing suspicion, anger; and
in some instances, engaging in
hostile confrontations.

Why can’t we as a people
understand that when we
choose opposing parties, right
or wrong, that we are exercis-
ing our God-given free will to
choose which is also enshrined
in our Constitution? That it’s
only one’s expression of confi-
dence in the individual or par-
ty to provide the best repre-
sentation and ultimately the
best Government for the coun-
try (inclusive of all, regardless
of their political persuasions).
So, instead of getting angry
with each other, we ought to
be carefully scrutinising the
individuals seeking to répre-
sent us and satisfy ourselves
that all things considered, we
are making the most intelligent
and best choice.

I take this opportunity to

‘ remind my fellow Mayaguani-

ans that after the election
process is over, the politicians
will leave and return to Nas-
sau, (returning to Mayaguana
enly for the occasional brief
visits); leaving us still having
to live with each other (in this
small community). We must
always be mindful that others
have a right to choose, a right
to share in the economic
opportunities which the island
has to offer and in general a
reasonable expectation of to
be able to earn a living on this
island where they live. Which is
also a part of our Prime Minis-
ter’s stated plan for the Family
Islands.

We must never lose sight of
the fact that God, our Creator
created us for his purpose, yet
He placed within us a free will
to choose whether we will ful-
fill His purpose or otherwise.
Yet, we who are the creation
are demonstrating anger and
hatred toward each other
because we choose to exercise
that God-given free will to
choose. How ironic.

One may ask, what hap-
pened over the years to cause
Mayaguanians to change so
much and may get several dif-
ferent answers; all of which
might have contributed to
some degree. However, I
believe that the main reason is
because Mayaguanians as a
people have allowed politicians
to put us into little psychologi-
cal tunnels and make us believe
that one cannot have associa-
tion or friendship with others
who may be on politically
opposing sides. That, those in
opposition to your particular
choice, must be regarded as
enemies.

That’s not true. Imagine this
scenario; I support the PLP and
my mother supports the FNM

should I regard hes as my éne-

my? Or vise versa? No, ‘God
forbid. Unfortunately, mariy of
my fellow Mayaguanians are
acting this out and it’s tearing
the community apart. We need
the politicians and preachers
to come out with genuine nies-
sages of peace, understanding,
love and mutual respect 'for
each other, which would unite
and strengthen us as a people
(or maybe that does not fit into
their agendas).

I feel that it’s necessary that
the message come from the
politicians because, many peo-
ple believe that the separation,
suspicions and hatred is, what
the politicians want. Personal-
ly, I find it hard to believe that
any politician with the people’s
best interest at heart Would
knowingly or intentionally'tre-
ate or cultivate such an-eAvi-
ronment among the people i in a.
community such as Mayaguana
(or any other place). ,

I invite the politicians to take
the lead in trying to defuse.the
tension that exists in Mayagia-
na. J ask the preachers, because
their messages should always
be inclusive of love and mutu-
al respect. The politician can
start by letting people know
that they are friends with niany
of their political opponeitts.
That they sometimes eat
together, party together and
some of them on both sides of
the political divide are actually
in business together (and very
successfully, I might add). ;,

While I make no apology for
my political choice, I;will
accept or reject any suggestion
on the basis of right or wrong.
We are at a time in our nation-
al life when violent crime is tax-
ing our Law enforcement and
is seemingly out of contiol;
especially among our youhg
people, who, to a great éxtent
seem to be having difficulties
reasoning and understanding
that disputes can be resolved
without violence.

This is a time therefore,
when politicians and all leaders
or persons of influence in our
country should be promoting
peace, love, mutual respect and
understanding: In fact they
should be careful that their
rhetoric does not convey. a.
message which may be intér-- '
preted as advocating extlu-
sions, separation or hatred as
such could only serve to fur-
ther irritate people, resulting -
in further violence. vA

Finally Mayaguanians, there
is so much happening on this
Island right now which require
all of us working together; to
achieve a result that will ‘ulti-
mately benefit all concerned.
Let us therefore strive to recap-
ture the love and care for each
other which we were known
for; and learn to appreciate and
respect each other. Let us seek

to make Mayaguana better for

ourselves, our children, and
their children, now and in years
to come. Don’t allow politi-
cians who come today-and
gone tomorrow rob us ofthe
ability to think for ourselves or
cause us not to demonstrate
love and care for each other:

Let us use the obstacle’ that
besets us today as stepping
stones to elevate ourselves to
bigger-and better things..Let
us meet them together, with
brave hearts, calm minds and
undaunted spirits; for by doing
so we could realise our.full
potentials and achieve good
success as individuals and’asia
community on the whole. ‘J s
know for sure, that weas
Mayaguanians have it witHin
us to succeed and by the grace
of God, we shall.

For the love of God, care-
fully scrutinise and evaluate the
messages you receive from the
politicians or those who come
on their behalf. As for me,,I
will not heed or support any
suggestion that will deliberate-
ly cause separation from: my
family or friends; or that will
seek to separate Us as a peo-

ple. “eh

Fellow Mayaguanians,’ ga
have a choice. Use it wise

HUEL A WILLIAMSON
Pirates Well ve
Mayaguana
March 27 2007 ote!
~ FHE TRIBUNE

vwe

24
se

‘on Banchee.|

agreement with

University of
Johannesburg —

@ By BRENT DEAN

“ye
Sf the Bahamas Janyne Hod-

“der yesterday launched a part-
nership agreement between
COB and the University of
Johannesburg (UJ), which will
lead to exchanges of students

; and faculty between the two

z , institutions.

‘The launch was held at
-“COB, and Ms Hodder was
aeecnonnics by the Vice-

4° chancellor and Principal of the

¢ “University of Johannesburg,

-.9Dr Ihron Rensberg, and his
.gieodleagues Professor John
p;iLynz, Executive Dean, Facul-
oj;ty;of Management, and Andre

‘ viqcMynhardt, Executive Direc-
,» £0Fs School of Tourism and Hos

pitality.

‘sc Ms Hodder stated that the
_ {Partnership agreements signed

‘by the college are not attempts
“ ¥@ seek accreditation by for-

“ en countries or institutions.

ather, she said, these agree-
teat will aid in fostering

»\cross-cultural learning and cul-

° 9tyral opportunities.

Fhrjie’sThe partnership with the
-owuniversity of Johannesburg
.yrallows us to forge links in areas
7 ;ofmutual strength; namely
2 hospitality and tourism, busi-
* nes and education. These con-

. nections extend to linking our
artners in major industries
“<‘inghuding financial services, e-
‘S‘cémmerce and tourism in both
““'éountries. This mutually bene-
ficial partnership will create
- unique opportunities to foster
excellence in our programmes,
to provide opportunities for
yni€FOss- -learning and cross-cul-
ortural experience to enhance
.the learning and research
: , Opportunities we provide to

* students and faculty,” she said.

“Ms Hodder further stated
_ that these exchanges will func-

“*tion as a means of bench-mark-

ing*the standards at the college
“with other international insti-

tutions.
She said: “When our best

\ 1 students study abroad for a
‘. «wemester, we want to know

-r that they continue to excel in
their new context and can

-t-ada t to differences in culture

. an approach of different uni-
¥, -¥ersities.”

»,Pr Rensberg said that agree-

_aieats such as this aid in facili-

jing the mandate of the uni-
nee to "live at the edge of
creativity" and at "the fron-
-°ti€rs of knowledge".
eobDr Rensberg also noted that
*,the: experience the Bahamas
-f'possesses in the areas of
eitqurism and hospitality, make

.-CQB an attractive institution

‘to partner with. In the last 12
_e years, he stated, South Africa

"- has seen a rise from 500,000

_ foréign tourist arrivals, to near-

anh eight million currently.

.However, Dr Rensberg

Namented that most of the high

‘position jobs in the South

African hospitality industry are
* still held by foreigners or white

‘South Africans. The time for
this disparity "is up" he said,
and in an effort transform the

;sector, UJ has sought to cre-
_yate partnerships with interna-
. tional institutions to bolster its

“programmes to further
empower other South
Africans.

"When asked what racial

\gtmosphere Bahamians should
“expéct for when they travel to
vSouth Africa, Dr Rensberg
? stated:

i’ When Bahamian students
de come to South Africa, they
_willfind a highly contested and
~dynamic society with signifi-

pt debate and argument

ut where the country
should be heading and about
who we are as South Africans,"

“he said.

Students selected for the
‘new exchanges will pay their

iition and residence fees at

“their local institutions while
uthey study abroad. And these
) Students will receive full trans-
tfen-credits when they return
home to complete their studies.

i Ms Hodder stated that the col-

lege i is working towards hav-

g,at least one student go to
in Africa as early as the

‘upcoming fall semester.

Dr Rensberg is a former
‘executive at the South African
‘Broadcasting Corporation and
he was also an antiapartheid
activist who was imprisoned
Jwithout trial under the old
dpartheid regime.

Currently, UJ has 46,000 stu-

dents enrolled over five cam-

.puses, including nine faculties.

OG

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anadilenes

@ By ALEXANDRIO
MORLEY
Tribune Staff Reporter

THE BAHAMAS Democ-
ratic Movement is running
nineteen candidates in the
upcoming general election.

The young political party
presented its slate of candi-
dates to the media yesterday
at their headquarters on
Marathon Road.

BDM leader Cassius Stuart
told his members that they
were not here to play politics
or to get fat off the backs of
Bahamian people.

. “We are here for one pur-
pose only, and that’s to secure
the future of the next genera-
tion of Bahamians,” Mr. Stu-
art said.

He said that eventhough the
Progressive Liberal Party and
the Free National Movement
had more campaign money
than the BDM, they had
something that both parties
lack.

“We have character. We
have integrity and the willing-
ness to fight this uphill bat-

_LOCAL NEWS



af BAHAMAS DEMOCRATIC MOVEMENT leader Cassius Stuart speaks yesterday.

Mr Stuart said that the
BDM intends to empower the
masses in the country,

The BDM mission, he said,
is to preserve the land that the
nation’s forefathers had left

tle,” Mr Stuart said. behind.

PLP: anchor project
policy most important
target in the party’s
revolutionary wheel

THE fact that Perry Christie’s approach to governance is trans-
forming the Bahamas “is now an easily verifiable fact” according to
the PLP - thanks to the prime minister’s anchor project policy.

The governing party said in a statement yesterday that Bahami-
ans “are anxiously excited about growing with the PLP into its sec-
ond term as the whole nation unites behind the success and speedy
implementation and progress of the anchor projects”.

According to the statement, an anchor project is “an invest-
ment, that may be foreign or domestically owned or jointly owned
with the Bahamas government in a tourism, industrial or manu-
facturing business enterprise on a Family Island which when com-
pleted will re-energise that island’s economy, modernise its infra-
structure, create new employment opportunities, stimulate new
spin-off and cottage industries and businesses for Bahamians ...”

It went on to say that persons in Nassau who descended from or
simply wish to move to a Family Island will be able to do so with
confidence that “the living standard will be raised and their reali-
sation of the Bahamian dream of equality and opportunity shall be
achieved.”

Even more important, the party said, persons already living on
that island will have direct access to the new economic opportuni-
ties.

“Nassauvians cannot relate to what it is for a 17-year-old girl or
a 16-year-old boy to have to pack up and leave Landrill Point,
Crooked Island to look for a job in Nassau or to go to school.
Often times these young people become extra burdens to their
extended Nassau family. They are abused and used and some-
times the culture shock of the bright light and fast times of Nassau
sends them into a culture shock from which they never recover.”

The party said the policy is “the single most important target in
the revolutionary wheel of the PLP of the 21st century” and that it
will create sustainable development in the Family Islands, and
implement modern infrastructure that connects the nation.

However detractors say the policy was poorly thought out, and
has resulted in approvals for projects that have the potential to dam-
age the environment — in effect destroying the very assets that
draw visitors to the Bahamas.

It has also been pointed out that the investors who have come to
the Bahamas under the policy have promised much, but so far
delivered little — pre-selling much of the land to second home
owners before any construction has begun; doing nothing more, in
effect, than depriving local populations of land on which future gen-
erations would have settled.

Questions have also been raised about the sustainability of the
plan, as seen by the stuttering
start of the Emerald Bay resort
in Exuma — the flagship of the
anchor project plan.

The statement noted that the
opposition FNM has been among
the critics of the policy, has
attacked it as land giveaways,
“and to further confuse the vot-
ing public they are airing radio
advertisement which seeks to
turn this national issue into a
joke.”

“The FNM laughed at the
Royal Bahamas Defence Force
when the PLP established that.
They laughed at National Insur-
ance and National Health Insur-
ance when the PLP established
those important institutions.
They called the Cable Beach
Hotel and Casino a pink ele-
phant when the PLP government
built that to revitalise the tourism
industry on Cable Beach.

“They have the record for
opposing every single piece of
progressive legislation ever
mounted in post Majority Rule
Bahamas,” said the statement.
“The Bahamian people will judge
them harshly for their attack,
opposition, criticisms and
attempts at derailing the progress
of the anchor projects and the
fuller development of this
nation.”

ieee ei:
WEDNESDAY,
APRIL 11TH

6:30am Community Page 1540AM

8:00 Bahamas @ Sunrise

9:00 = Bullwinkle & Friends

9:30 King Leonardo

10:00 The Fun Farm

11:00 Real Moms, Real Stories,

Real Savvy

} 11:30 International Fit Dance
noon ZNS News Update

12:05 Gospel Aficionado

1:00 — Legends: Carlton Harriss

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

16:00 A Special Report

6:30 News Night 13

7:00 — Bahamas Tonight

8:00 Rescue

8:30 My Home

9:00 The Human Senses

10:00 Caribbean Newsline

10:30 News Night 13

11:00 The Bahamas Tonight

} 11:30 Neo Soul Café

1:30am Community Page 1540AM

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






































“The Bahamas will not be
a nation for sale. We will not
sell out land. We will not sell
our country to the highest bid-
der,” Mr. Stuart said.

He said that the Bahamas
Democratic Movement was
the only one real option in this
general election.

“The FNM is the PLP and
the PLP is the FNM, because
there is no difference between
the PLP and the FNM,” he
said.

He told the candidates that
they were part of the solution
that will mend the fabric of
the nation together.

The BDM leader said that
his party has been the only
political group in the country
which has suggested solutions
and debated on real issues for
the past seven years.

He said that only the BDM
could take the Bahamas to the

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nineteen
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‘Ie

promise land.
“Joshua is here,” he said.
Mr Stuart said that he is

looking forward to the gener-

al election approaches, and

announced that all of the can-

didates would be victorious.
The list of candidates is as

follows:

Dwayne Gibson -

Bain and Grants Town

Omar Smith -

Bamboo Town

Dion Stuart -

Blue Hills

Tolonus Sands -

Carmichael

Bernard Rolle -

Elizabeth

Cortez Turner -

Englerston

Sidney Carroll -

Fort Charlotte

Kermit Agaro -

Fox Hill





Cassius Stuart -
Garden Hills

Christopher Aaron Cox -
Golden Isles

Omar Archer -
Kennedy

Winsome Miller -
Marathon

Harry Lewis -

Mount Moriah
Demetrius Frazer -
Pinewood

Laurette Jose-Dean -
St. Thomas Moore
Roderick Brown -
Sea Breeze

Jermaine Higgs -
South Beach

Ural Pratt -
Yamacraw

Jeffrey Carroll -

North Andros
and Berry Islands

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PAGE 6, WEDNESDAY, APRIL 11, 2007



LOCAL NEWS

Archbisho p says develo pment

THE TRIBUNE

TR Os ROR DL



projects are issues in election |



ADDRESSING voters as the
next general election draws
near, Archbishop Patrick Pin-
der of the Catholic Archdiocese
of Nassau in a letter urged
Bahamians to cast their ballots
carefully and to consider the
consequences of the numerous
development projects happen-
ing in all of the country’s
islands.

In his pastoral letter in prepa-
ration for the 2007 general elec-
tion issued on Easter Sunday,
Archbishop Pinder expressed
serious concern about the
impact foreign investment pro-
jects could have on the Bahami-
an lifestyle.

“Recently, we heard of leases
being granted to energy com-
panies to explore for oil on the
Bahama Banks, a development
that raises concerns among
those who care about preserv-
ing the quality of our environ-
ment. The fears have been as

Police prepare for

@ By ALISON LOWE
Tribune Staff Reporter

THE Royal Bahamas Police
Force has been realigned with
senior officers. taking up posi-
tions “in the front line” in
advance of the upcoming gen-
eral elections.

Speaking at Police Head-
quarters, newly appointed
Senior Assistant Commission-
er in charge of crime Elliston
Greenslade said that police
want to ensure that the tradi-
tion of peaceful elections in the
Bahamas is upheld.

“We are preparing for gen-
eral elections in this country and
we want to keep this tradition in

~~ ensuring the people can go

about their business in a safe
‘manner, ‘that‘they can have

+ healthy debate and discussion

without any abuse of privilege
and that-it is done:in.a democ-

ratic framework,” he said.

The House of Assembly was
dissolved last Wednesday by
Commissioner of Police Paul
Farquharson.

Mr Greenslade said that
police resources have been
directed “onto the streets” at
this time.

He as well as other senior
officers will be seen “pounding
the beat” in the run up to and
during polling, he said.

Speaking more generally, but
equally emphatically, about
changes that have and will take
place within the force subse-
quent to having taken charge
of the crime portfolio last
Wednesday, Mr Greenslade
said that he was there to offer
“assurances” to the Bahamian

“people.

“We are in the service deliv-
iery business: and we shall con-

-Sistently deliver care, respect

and trust to our people wher-
ever they are in the Bahamas,”
the assistant commissioner told
assembled members of the
press.

“My message is very clear,”
he said. "We have come to you
with clean hands, and a willing-
ness to serve; an ability to serve.
Please call us, test us, and prove
us, we are willing to do the busi-
ness and we are asking you to
then repose your confident and
trust in us.”

Mr Greenslade said that he
has “no sympathy for anyone
in law enforcement who breaks
the law,” while James Carey,
Assistant Commissioner in
charge of uniformed officers,
said that a recent promotion in
the Complaints and Discipline
unit. will ensure that complaints
against officers are dealt with
even more efficiently.

Greenslade said that he also

CFA Society of The Bahamas

2006/2007 Officers & Directors

President

David Slatter, CFA

Fidelity Merchant Bank & Trust

PO Box N-4853, Nassau, Bahamas

Fh: (242) 356 7764

Email: david.slatter(@ fidelitybahamas.com

Vice-President

Kristina M. Fox, CFA.
Templeton Global Advisors Ltd.
PO Box N 7759, Nassau, Bahamas
Ph: (242) 362 4600

Fax: (242) 362 4308

Email: kfox@templeton.com

Treasurer

David Ramirez, CFA
Pictet Bank & Trust Ltd.
PO Box N-4873

Nassau Bahamas |.
Ph: (242) 302 2217

Fax: (242) 327 6610
Email:dramirez@pictet,com

Secretary

Christopher Dorsett, CFA

Citigroup Corporate & Investment Bank
PO Box N 8158, Nassau, Bahamas

Ph: (242) 302 8668

Fax: (242) 302 8569

Email: Christopher.a.dorsett@citigroup,com

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great, as we confront the possi-
bility of a liquefied natural gas
plant being established on one
of our northern islands,” he
said.

Every other month, the Arch-
bishop said, “we hear of gov-
ernment giving approval for a
new anchor project, which will
inject millions of dollars in for-
eign investment into our econ-
omy.

“While we celebrate the job
creation potential of such ini-
tiatives, we are deeply con-
cerned that these massive intru-
sions of foreign lifestyles can do
great harm to the traditions,
social structure and culture of
our Bahaman way of life as we
know it,” he said.

Archbishop Pinder further
said that every day seems to
bring news of crimes that are
increasingly devastating.

“Very shortly, thousands of
Bahamian citizens will be going

allots

hopes the public will become
more confident and forthright
in providing information to the
police about crimes over time.

“I do believe there are per-
centages of our population
who have reservations, but if
we get it right I believe the
floodgates will open, we'll get
the information that we need,
and we'll have the full support
of the Bahamian people,” he
said.

“Co-operation will come by
demonstrating that we are say-
ing is not mere rhetoric but that
we are truly serious about the
business and we are in fact
doing it.

“And by proving that you can
repose your confidence and
trust in us as a law enforcement

“agency, and we will not betray

it; people will come to accept
that again,” Mr Greenslade
Said.









to the polls to choose the men
and women who will form the
government of the Common-
wealth of the Bahamas for the
next five years. This circum-
stance gives rise to a vital ques-
tion in the minds of many: What
should the role of responsible
citizens be at this dynamic and
life changing time in our histo-
ry? In the face of the many deci-
sions that Bahamians are being
called to make, what criteria
should be the basis of our choic-
es?” he asked.

The Archbishop said that it
is now time for Bahamians to
engage in “the most important
exercise of any democratic
nation.”

“We must exercise the privi-
lege of electing the men and
women who will form the next
parliament with the mandate to
govern our commonwealth.

“Those whom we elect to
govern us are a true reflection

@ ELLISTON Greenslade

Under the distinguished patronage of the
Hon. Fredrick A. Mitchell

The Ministry of The Public Service |
Presents !

Singing Competition showcasing over twenty par-
ticipants from the various Government Ministries/
Corporations (choirs and soloists)

Preliminary Round—| Ith April,2007 at 7pm

(Soloists Only)

Place: Holy Trinity Activity Centre

(Stapledon Gardens)

Finals—Sunday 22nd April, 2007 at 6.30pm

(Choirs and Soloists)

Place: Golden Gates Worldwide Ministries

(Carmichael Road)

Included are a few of our shinning stars...

Cickets for Finals ave Available at The Ministry of the Public
Service, Poinciana Bill, Meeting Street @ $5.00
Telephone Contact: 502-7200



of the basic values we hold near |- -

and dear to ourselves. This is

an exercise that we dare not -,:

take lightly. We must approach
it with full seriousness, much
thought, much prayer and radi-
cal honesty. Our country is
experiencing great change at.’
this time,” he said in his letter.. °

Archbishop Pinder said that
the pastoral letter is being
offered as an aid to clarifying
some of the issues that surround
the general elections. He said
that the Catholic Church con-
siders registration and voting to
be “the moral obligation of a
responsible citizen.”

“It is our duty to answer the
call to full, active and conscious
citizenship and thus promote
the common good. That is to
ensure the necessary social con-
ditions that allow people to
reach their full human poten-
tial and to realise their human
dignity,” he said.














@\

*
Â¥ xy
.
THE TRIBUNE

LOCAL NEWS

WEDNESDAY, APRIL 11, 2007, PAGE 7







Ss SS S . SS SE SW ESNS
@ CRANES are seen working on the cay

Protest as c







@ CRANES work ona ramp collecting the boulders

ranes transport

sand — from Salt Cay







CONCERNED residents are
protesting over the removal of
sand from beaches at Salt Cay,
otherwise known as Blue
Lagoon island.

Bargeloads of sand are being
moved every week, creating a
“hole” which, protesters claim,
will suck sand from Paradise
Island in a few years’ time.

A Bahamian environmental-
ist who went out by boat to the
site over Easter said a crane is
hauling sand off the south side
of the cay.

“Every day for more than a
week, bargeloads of precious
sand have been removed from
the south side of Salt Cay, a
mile away from the beaches of
Paradise Island,” he said.

“History shows that in ten or

@ BOULDERS on the north side of the island



@ THE view from the clubhouse is marred by piles of rubble

20 years, sand from these beach-
es will be sucked away to fill
the hole being made today. As
examples of this, look at Mon-
tagu Beach and western Cable
Beach.”

The source said a ramp had
been made over the island, and
hundreds of boulders stored on
the north beach.

“T judge that some have
already been taken to the small
bridge joining the two islands,

but I know not why. The first
hurricane. will throw them
against the bridge and destroy
it,” he added.

This was the second major
sand removal exercise on the
cay in four years, he said.

Yesterday, The Tribune tried
unsuccessfully to find out who is
removing the sand.

e As The Tribune was going
press yesterday, the cranes were
reported to have left.

a year in Grand

@ BERNARD fottage





@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT —- About 100
new HIV/AIDS cases have
been recorded every year on
Grand Bahama for the last sev-
en years.

This was revealed during,the
opening ot World Health
Month in Freeport last weak.

Minister of Healthbisbr
Bernard Nottage, in his address,
reported that 632 new cases
were recorded on Grand
Bahama between 1999 and
2006.

*That is just around 90 a year
in Grand Bahama, and we all
know that up to December 31,
2005, we had over 10,000 cases
reported in the entire
Bahamas,” he said.

Dr Nottage said that the
country’s statistics on
HIV/AIDS, diabetes, hyper-
tension, and other preventable
communicable and non-com-
municable diseases, are cause
for great concern.

He noted that the govern-
ment spent in excess of $10 mil-
lion for medication to treat
patients on dialysis, and med-
ication for patients with heart
disease, hypertension, diabetes,
and HIV/AIDS during 2006.

According to Dr Nottage,
about 15 per cent of patients
seen at community health clinics
in Grand Bahama suffered from
hypertension and diabetes.

During the same period, the
Rand Memorial Hospital saw
264 admissions and 41 deaths
relating to these diseases.

“Too many are on a collision
course with disease, disability
and even death, as a result of

Nottage warns Bahamas
must be ready for threats
from outside region

THE Bahamas is vulnerable
to international health threats
that are not endemic to the

region, according to Minister of

Health Dr Bernard Nottage.

These include tuberculosis,
malaria, HIV/AIDS, avian
influenza, SARS and other
communicable diseases.

Dr Nottage noted that at the
recent Bahamas Outlook 2007, a
major investor emphasised the
need to recruit workers from out-
side of the Bahamas to fill jobs.

“When we bring in workers
from abroad to the Bahamas,
they come with their own health
issues. And we believe that
when we experience the malar-
ia epidemic in Exuma that’s
how we golit it was brought
in from outside.

“Tt is very important for us

to understand how important
being in concert with interna-
tional health regulations and
ensuring that we have the
means of prote cling, the coun-
try’s citizens,” he said.

Lynda Campbell, Pan-Amer-
ican Health Organtsation/World
Health Organisation represen-
tative for the Bahamas and the
Turks and Caicos, said that their
objective is to have all health-
care facilities in the region oper-
ate in accordance with interna-
tional health regulations by
2016.

Dr Nottage said that the min-
istry’s policy on public health ts
party guided by the Interna-
tional Health Regulation (2005)
which takes effoect on July 15
2007.

He said the main objective of

the IHR is to protect against,
control] and respond to the
international spread of disease
while avoiding interference with
international traffic and trade.

Dr Nottage said that the
Bahamas is among over 140
member countries of WHO that
have already established nation-
al JHR focal points.

He added that the multi-sec-
toral national IHR Working
Group has been established in
the Bahamas and is engaged
in the development of a
national response plan, which
has a strong port health sur-
veillance component and
includes response strategies for
control of avian influenza, pan-
douite influenza, SARS, yel-
low fever, and other emerging
diseases.

illnesses that quite often can be
controlled, reversed and altered
by healthy lifestyle changes,”
he said.

Dr Nottage revealed that
Bahamians are now experienc-
ing renal failure on a daily basis.
“We cannot provide access to

, dialysis for Bahamians patients

today in our system,” he
warned.

In response to these alarm-

ing statistics, the Ministry of
Health has established the
Healthy Lifestyle Initiative to
combat the prevalence of pre-
ventable chronic non-commu-
nicable diseases among Bahami-
ans and healthcare workers.
Dr Nottage said World
Health Day, which is observed
on April 7 each year by the
World Health Organisation,
focuses on-gtabal health issues

and challenges every nation to
embrace progressive solutions
to preserving the future of the
world.

This year’s theme, “Invest in
health, build a safer future” is
intended to provoke the busi-
ness community, health work-

. ers, civil society, government,
: and people around the world to

give priority to international
health security,” he said.

British Colonial Hilton

Nassaut

The British Colonial Hilton invites applications for aynaniee. confident and
assertive individuals to fill the following positions:

Catering Sales Manager: This position is responsible for supervising, managing,
and overseeing all aspects of catering sales in addition to leading and motivating
the catering accounts and maintaining relationships with existing accounts to meet
and/or exceed food beverage revenue goals.

Che successful candidate should meet th

-5 years hotel industry and management experience with at least 2 years sale experience

° 3

ollowi.

demonstrating strong sales, negotiating and closing skills

Advanced knowledge of sales/hospitality principles and practices

Excellent people and leadership skills

Effective communication 1.e

e oral, written and presentation skills

A professional demeanor and appearance
Goal-oriented, focused, energetic and self-motivated with the ability to work with little

supervision

Computer literate and proticient in the use of Microsoft Excel and Word
Open to a flexible work schedule as evenings and weekends are essential at times. Hotel
catering experience would be an asset

Senior Sous Chef/Kitchen Artiste: Under the direction of the executive chef, this position

ensures cost effective production of the highest quality food appropriate to the market. The selected
individual will primarily be responsible for all artistic creativity within the kitchen including

specialty carvings, show picces and sculptures.

members.

Will train and develop department’s team

Beenie practical iow ledge of cooking styles and various cuisine including Continental,
American, Mediterranean/Italian and Caribbean/Bahamian.
10 years experience as a senior chef within operation of at least 4-star designation including
Professional certification/training from a recognized culinary institution

Demonstrated artistic ability to produce high level culinary show pieces, carvings and
sculptures i.e. ice carvings, fruit and vegetables carvings, chocolate carvings and buffet show
pieces. Industry/professional awards are desirable proof of excellence.

Proven experience with a successful track record of achievements in leading a culinary team.
Strong administration and organizational skills with the ability to contain operational costs.
Computer-literate with a working knowledge of Microsoft Word and Excel.

Proven ability to train and develop members of the culinary and stewarding teams.

Individuals who meet the above requirements are invited to forward their resumes to:

Director of Human resources
BRITISH COLONIAL HILTON, NASSAU
1 bay Street, Nassau, Bahamas

Fax: 242-302-9040

E-mail:recruitment.nassau@hilton.com



Deadline: April 20, 2007
~ dae

PAGE 8, WEDNESDAY, APRIL 11, 2007

THE TRIBUNE





€omplex history of the Rum Cay dispute

A landmark ruling has
been made in one of

two injunctions filed by promi-
nent Bahamians over the past
year in an effort to stop foreign
speculators from carving up and
selling thousands of acres of dis-
putéd land on the 45-square-
mileisland of Rum Cay.

The land wars have fueled a
controversy that involves polit-
ical Pee Nassau lawyers
(on'both sides of the fence), the
formerly enslaved inhabitants
of-Rum Cay, wealthy second
home owners, and a bevy of
on and local fortune seek-

- 'March 26 ruling by
Supréme Court Justice Jeanne
Thotipson extends one of the
injitictions and awards costs to
attgtney Craig Butler, a grand-
son’of the late governor-gener-
al Sir Milo Butler, who is rep-
res@pting the family’s claim to
merte-than a thousand acres in

’ the west of Rum Cay.
‘he ruling also appears to
validate the Butler claim, mak-
in¢ more difficult for other
clafititints. Rum Cay has been at
th®tentre of a maze of com-
® péting land claims in recent
years, with several develop-
mets underway — some spu-
ripus,-some real.

as Sar

st he American defen-
‘ l dants in the Butler
infuhétion (Island Acquisitions
atidMiami lawyer Jorge Diaz-
Cito) were represented by
former attorney-general Carl
Bethel. They have until mid-
Apritto lodge an appeal against
Justice Thompson’s ruling.
_“Ksfand Acquisitions was

brane

Jorge Diaz-Cueto is a director.
Al&d cited as defendants by the
Biter injunction are Raymond
anhti’Merrill McDonald, who
wefé “friends and companions”
of the late Effie Knowles, a
Florida attorney of Bahamian
deséént who claimed an estate
of-some 12,000 acres in the

Bahamas — including big chunks
of Rum Cay —— at the time of
her 1984 death in Miami.

The McDonalds supposedly
inherited these lands from Effie
Knowles, and a few years after
her death they sold all of them
to a Bahamian company called
Newport Harbour — which is
also represented by Carl Bethel
— for $180,000. Then, in 2002
the McDonalds resold 2000
acres in the southwest of Rum
Cay (which Effie claimed to
own) to Island Acquisitions for
$128,000.

Island Acquisitions claims to
be a purchaser for value of the



which is near the family’s orig-
inal home in Blackrock —
pending a title quieting by the
Supreme Court.

Island Acquisitions sought to
have the injunction dismissed,
but the March 26 ruling by Jus-
tice Thompson denies this. Her



Rum Cay has been at the cen-
tre of a maze of competing
land claims in recent years,
with several developments
underway — some spurious,

some real.



-Rum Cay land based on a May

10, 2002 title report by Vincent
Peet and Co, which starts with
the will of Effie Knowles.

The plaintiff in this dispute
is Raleigh Butler Sr, owner of
Butler’s Funeral Home and
eldest son of Sir Milo. He traces
his claim all the way back to a
1790 Crown grant to one
Thomas Fraser. The land was
conveyed in 1882 to James Cul-
mer and (an earlier) Milo But-
ler as tenants in common, and
there has been no subsequent
conveyance away of the land.
The plaintiff is the great great
grandson of the original Milo
Butler.

[Ts Butlers filed for an
injunction in January
2006 to restrain Island Acquisi-
tions from “selling, advertising,
subdividing, trespassing, inter-
fering, excavating and/or deal-
ing with” the Rum Cay land —

ruling also states that docu-
ments produced by the plain-
tiff “on their face show a clear
line of title from the con-
veyance to the first Butler and
Culmer to the plaintiff and oth-
er members of the Butler fami-
ly.

Justice Thompson also not-
ed that the defendants “have
not produced any evidence of
having obtained subdivision
approval to do the works on
which they are allegedly
embarked and there is evidence
produced by the plaintiff that
such approval has not been
granted...I note that several lots
have been sold, and, if (Island
Acquisitions) should not suc-
ceed (in the quieting action),
these sales and subsequent
sales, should the injunction be
lifted, could result in much neg-
ative publicity for the
Bahamas.”

Justice Thompson issued
another injunction last Novem-

TOUGH CALL

ber to stop the sale and/or sub-
dividing of a 67.5- acre piece of
vacant land known as Murray’s
Camp, and another 15.5-acre

‘tract — both to the east of Port

Nelson on Rum Cay.

Richard Lightbourn of McK-
inney, Bancroft & Hughes had
filed for the injunction on
behalf of a Bahamian compa-
ny called Tara Ltd. His appli-
cation was based on Certificates
of Title obtained from the
Supreme Court in 1988,
through descent from one Mary
Dorsett. Tara is owned by the
MacTaggert family of Nassau.

he judge’s order pro-.
hibits the defendants

from trespassing on the land,
or holding themselves out as

Rum Cay Ventures filed a
counterclaim seeking to haye
Tara’s 1988 Certificates of Title
set aside, on the ground of
fraud: A ruling on this dispute is
still pending.

At least two of the specula-
tors have been in financial trou-
ble with the law in the United
States. It is difficult to under-
stand how the government can
allow such persons to enter the
Bahamas and do business, par-
ticularly when the business is
the sale of disputed Bahamian
land to unsuspecting foreign
buyers, which — as Justice
Thompson says — can only
damage the country’s reputa-
tion.

Aen to lawyer
Craig Butler, the

speculators are engaged in a
process called flipping: “They
are trying to claim title by sell-
ing lots as rapidly as possible,
but the basis from which they
all start is simply wrong.”
And that basis is Effie
Knowles, whose grandfather —
James Alexander Knowles —



It is difficult to understand
how the government can allow
such persons to enter the
Bahamas and do business,
particularly when the business
is the sale of disputed
Bahamian land to
unsuspecting foreign buyers.



having an interest in the prop-
erty. Among those restrained
by this injunction are Mike
Fothergill, Rum Cay Ventures,
Billy Wayne Davis, Newport
Harbour, Bobby Little and Bob
Pope (former owners of the
Sumner Point Marina on Rum
Cay).

was born on Long Island in
1839 and moved to Key West.
Her mother — Julia Dorsett —
was born in Nassau and also
moved to Key West, but her
father was Joseph Lake Dorsett
— who was a prominent
landowner on Rum Cay.

Effie began tracing her estate

in the early 1960s. Her starting
point was the will of an uncle —
Percival Dorsett — who was
supposedly the last white
Bahamian on Rum Cay when
he died in 1940. The lawyers
who worked on Effie’s project
in the early years included
Carey Leonard, William
McPherson Christie, Jerome
Pyfrom, William Holowesko,
Useph Baker and Dawson
Roberts.

In a 1962 letter to one of her
relatives Effie wrote about the
project: “I have made five trips
to Nassau...We are getting
ready to clear the title to 1400
acres of land inherited from the
Dorsetts on Rum Cay, also
lands inherited from my father’s
family.”

E another letter she dis-
cussed the value of Rum
Cay property: “The salt pans
were built at great cost and
lined with solid flint rock, and
even though now in bad repair
even a small acreage is worth
money. My great grandfather
built them at a cost of $1000 an
acre and developed some 200
of the 900 acres...He also had a
cattle ranch on some 1400 acres.

But many experts are scepti-
cal of Effie’s complex title
chain, pointing out that she was
an American citizen and that
lots of things could have hap-
pened over the years to affect
her claims — such as non-pay-
ment of taxes. It is this uncer-
tainty that has fueled the con-
flicting claims-of foreigners on
Rum Cay.

The last major title quieting
legislation in the Bahamas was
passed 47 years ago and
although there has been talk of
a new land law to provide for
absolute title, nothing has been
done to achieve this by any gov-
ernment.

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

a ecnceangeeqeeececscccccscccesececsseececsserecesecacesenscesececneeseeeebeeseeeeeseenensee esas en anaseeeaenea esse Gene eeenee see ne ee ne es ea Re De nseeeeeeaesen snes as en eens neenensnenenecnaesesnsasaseuesucnscssesssacnsncaeusacesaccersnsnusetasereresesetereenenseeneneseseseneseseceeececnsseneneasaensaeaenssesecesesesesnanenessenenaneneneasseasaranasseaesasereassesnsnensssaceasnsasnenenacanaseceseseseseseseres seen ees

Effectiveness of d

I Sy NT

FINANCIAL INTELLIGENCE
UNIT (THE “‘FIU”’)

en
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thu Pp
wis

c.
wits

Be
VAL

”
AU iw

BLI I

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“Pursuant to Section 15(2) of The Financial Intelligence Unit

“Act, 2000, the public is hereby notified that, the revised

Suspicious

Transactions

Guidelines

Relating to the

Prevention of Money Laundering and the Financing of
Terrorism (The ‘‘2007 Guidelines’’) for financial institutions
within The Commonwealth of the Bahamas have been issued
‘and are effective as of 19th March 2007.

The 2007 Guidelines replace those Guidelines issued in

December 2001.

Copies of the 2007 Guidelines can be obtained between the
hours of 9a.m. to 5p.m. Monday through Friday, from the
Administrative Offices, The Financial Intelligence Unit, 3rd
Floor, Norfolk House, Frederick Street, Nassau, The Bahamas.

Anthony M. Johnson

Director

Financial Intelligence Unit
P.O. Box SB 50086
Nassau, The Bahamas



en

@ By PETER YOUNG

THE ending of the standoff
over Iran's arrest and detention
of 15 British sailors and marines
has inevitably provoked fierce
debate about how a satisfactory
outcome without bloodshed was
achieved. It has also focused the
world's attention again on the
whole issue of US and British
military involvement in the Per-
sian Gulf region and, in partic-
ular, the disastrous venture in
Iraq.

It is clear that skilful, behind-
the-scenes diplomacy (with no
obvious concessions being
made) worked effectively in
defusing a volatile and danger-
ous situation. Contrast that with
the bellicose noises from hard-
liners in Washington and else-
where advocating the 'nuking'
of Iran. Their idea of diplomacy
seems to be to bludgeon an
adversary into submission with-
out heeding the likely adverse
reaction and consequences. We
can all be grateful that the inci-
dent did not create the spark
that widened, irretrievably, the
current conflict in the Middle
East.

Some of those calling for an
apparently tougher response
from the British government
cite Lord Palmerston's gunboat
diplomacy of the 19th century
and the many instances of ruth-
less British responses to rebel-
lion, mutiny and hostile resis-
tance to colonial rule. The tales
are legion — the Indian mutiny,
the Boer war, the Boxer rebel-
lion, the reaction to the murder
of General Gordon of Khar-
toum, punitive expeditions
against the old kingdom of
Benin in Nigeria and during the
Zulu wars, to name but a few.
However, these were from a dif-
ferent era when Britain's power
was at a peak and she had the
will and means to dominate in
countries where, in many cas-
es, she already exercised con-
trol. Critics also cite the reac-
tion of the Iron Lady, Margaret
Thatcher, to Argentina's inva-
sion of the Falkland Islands in
1982 and contrast that with
prime minister ‘Tony Blair's sup-
posed pusillanimous response
to the Iranians.

These comparisons are wide
of the mark. Britain is not at
war with Iran and that nation
has not invaded British territo-
ry as Argentina did. The Royal
Navy is operating in the Gulf
legally under a United Nations
mandate with careful rules of
engagement; and, even though

iplomacy in freeing British hostages

Y O U BR nnn... ...

OP

the sailors were correctly in
Iraqi waters, it is well known
that there are uncertainties and
disputes about the territorial
waters in the area.
Nonetheless, the unprovoked
hostile action of the Iranians
was unacceptable. In order to
solve the immediate problem
of securing the hostages'
release, it was essential to avoid
inflaming the situation by blus-
tering, overreacting and threat-
ening the use of force. What
was needed was a calm and
measured approach of patient
dialogue: in other words, the
exercise of diplomacy to pro-
vide the Iranians a ladder down

AGG



which to climb while at the

same time implying that there
was sterner international action
(sanctions and other restric-
tions), short of military force,
which could be taken.

Some say that that amounted
to appeasement which, since the
Munich crisis of 1938, has
become a pejorative term
meaning craven weakness. But,
in the right context, appease-
ment — defined by noted
British historian AJP Taylor as
an attempt at conciliation and
agreement — can be an appro-
priate response. In this case, the
Iranians were in control of the
situation and the use of armed
force rather than diplomacy
would have been counterpro-
ductive and disproportionate.

That does not mean that
Britain should treat lightly, in
the wider context, the threat
Iran poses to world peace by its
intervention in Iraq and its
declared intention to destroy
Israel. Nor can the West sit by
and ignore Iran's development
of nuclear power which could
lead to nuclear weapons being
in the hands of an unstable and
divided regime. lran must com-
ply with UN Security Council
resolutions and suspend urani-
um enrichment.

Now that he has achieved
the release of the hostages, Mr
Blair has reiterated publicly that
there are elements at least of
the Iranian regime that are
backing, financing and arming
terrorists in Iraq. The US and
Britain need to react strongly
and the military option will

INION



remain in the back of every-
one's mind. However, follow-
ing the calamitous failure in
Iraq, does anyone now believe
that an invasion of Iran, an oil
rich nation of some 70 million
people, would be anything but
extreme folly? Firm and sus-
tained diplomatic pressure in
relation to Iran's involvement
in Iraq and its possible devel-
opment of nuclear weapons is
the only way forward.

Controversy over the
hostage incident will continue.
A row has developed over the
hostages selling their stories to
the media, and their public
demeanour has been ques-
tione in particular, whether
they were too enthusiastic,
cooperative and grateful to their
captors instead of sticking to
the traditional “name, rank and
number” response; though it
has become clear from their
own evidence that they were
put under considerable duress.
What will surely now follow will
be an investigation of the Roy-
al Navy's operations in the Gulf
and its rules of engagement in
order to try to avoid any repe-
tition.

Far from Britain being
humiliated, it was the Iranians
who backed down relatively
quickly in the face of diplomat-
ic pressure. This was in marked
contrast to the prolonged US
embassy hostage crisis in
Teheran in 1979. In the words
of one commentator, Iran has
shown itself again to be ambi-
tious, dangerous and menda-
cious with a divided leadership.
This is all the more reason for
treating it with extreme care
while recognizing Churchill's
famous dictum that to jaw-jaw is
always better than to war-war.

In the aftermath, let us hope
that there will also be a hard-
headed review of Britain's role
in the region and, in particular,
whether the presence of her
troops in southern Iraq is exac-
erbating a perilous and unsus-
tainable situation. Such a
reassessment is surely overdue.



(Peter Young is a former
British High Commissioner to
the Bahamas).
THE TRIBUNE

WEDNESDAY, APRIL 11, 2007, PAGE 9



Darold Miller
stages one-man

protest outside
of Gems FM

FROM page one

water logos on them, and
a representative from the
Coca Cola company —
which also owns Dasani
water — later arrived in the
area and forced their
removal, according to
sources.

Reports of sexually-relat-
ed complaints made against
Mr Miller were published
in The Tribune on Satur-
day, March 24.

Police confirmed that the
complaints were made by
three women.

Subsequently, Mr Miller
delivered a letter to The
Tribune in which he stated
that he is “innocent of any
suggestions of impropri-
ety."

Mr Miller went on to
state that he was "mysti-
fied" by the reports pub-
lished in the newspaper.

"Obviously whatever
complaints have been
brought against me are
false," Mr Miller said yes-
terday, when asked to com-
ment on the significance of
his protest..

Meanwhile, another
radio show, "The Way For-
ward", presented by
Michael Pintard, was
broadcast today in the
1llam-1pm slot which Mr
Miller's boisterous talk-
show previously occupied.

"He did say he is only sit-
ting in," said Mr Miller of
his replacement. "It is my
wish that within the next
eight days or so that this
matter will be resolved and
I will be back on air."

Mr Miller said he is "con-
fident that with God's
help" he will be vindicat-
ed.

"I am lifting my eyes to
the hills from whence
cometh my help, my help
cometh from the Lord," he
said.

New crime
chief: more
senior officers

on front line
FROM page one

expect to see more senior
officers on the front line
of the fight against crime.

Additionally, the new
crime chief stated that
under his watch, retired
and former officers in
good sianding, will be con-
sulted in order to use their
expertise in creating
strategies to reduce the
crime rate.

"We are also bringing
on board former officers,
wherever they are in the
Bahamas, who still have
an interest and are police
officers for life. We are
bringing them on board
and we're listening to
what they have to say," he
said.

The tough talking crime
boss also said he "will
have no sympathy for any-
one in law enforcement
that breaches the law, and
is not a part of what is pos-
itive and good in this
country."

Mr Carey, head of the
New Providence district,
assured the public that the
police have currently
realigned their resources
to create a new synergy
and commitment to crime
fighting.

Mr Carey also stated
that he, Mr Greenslade
and the new crime team
will be accountable to the
public, while noting that
scourge of violent crime
can ultimately threaten
the livelihood of the coun-
try.

"If it continues,
undoubtedly, it's going to
have a negative impact on
the economy, it's going to
have a negative impact on
the society as a whole, and
we want to say 'we are
here’ to you, to make rep-
resentation to members of
the public that we will do
our best to address these
issues," he said.



‘No health risks’ for homeowne



in eastern Shirley Street area

FROM page one

refurbished and that during this
process some spillage of petro-
leum into the ground water has
and may again occur.

“We are aware that on occa-
sion there has been some petro-
leum product that may have
spilled into the ground water,
but they (Chevron) have moved
immediately (to absorb) the
petroleum chemical and con-
tain it and remove it safely as
well.

“There is no danger for the
residents in the area,” he said.

Concerned members of the
public have contacted The Tri-
bune in the past week express-
ing fears regarding the refur-
bishment of the Chevron sta-

tion on Shirley Street, stating
that “strong odours” were ema-
nating from the site and that
they witnessed workers wear-
ing protective clothing resem-
bling “Hazmat suits” attending
to the station.

Some callers said that they
were afraid that gasoline from
the station’s underground stor-
age tanks was leaking into the
ground water.

“People in that area have
wells, they should be told what
is going on. That area floods
easily when it rains, if you have
contamination in the ground
when it floods that contamina-
tion is in the water that you
walk in, the water you drive in,
it splashes on your cars. The
Bilney Children’s Home is only
a block away,” one concerned

resident said.

Other callers complained
about the “toxic” smell that was
coming from the station, which
could reportedly sometimes be
detected as far away as “Star
Bucks in Palmdale.”

Speaking with The Tribune
yesterday, Armando Vegas,
retail district manager for
Chevron Bahamas, explained
that an environmental clean-up
— authorised by the Department
of Environmental Health — is
currently taking place at the
Shirley Street station.

“We are replacing the tanks,
we're cleaning up any haz-
ardous materials that need to
be removed,” he said.

Chevron, Mr Vegas said, is
removing the existing under-
ground tanks which are used for

Birkhead is baby’s father



Dannielynn.

press.

said.

harm to the child.

alone,” he said.

on Friday.



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.

@ LARRY BIRKHEAD outside of court yesterday.
FROM page one

Baird, the DNA results confirmed, with 99.9 per cent
accuracy, that Mr Birkhead was, in fact, the father of

“Larry was determined to be the biological father based
on the DNA testing. He had a combined paternity index
of over 11,515,000. Or a probability paternity of over
99.999 per cent,” Dr Baird said.

Obviously upset at the announcement, Howard Stern
slumped to the platform some minutes later to address the

“TI want to say that I am obviously very disappointed.
But my feelings for Dannielynn have not changed. I am
not going to fight Larry Birkhead on custody. We are
going to do what we can to make sure that the best inter-
ests of Dannielynn are carried out. And I’m going to do
whatever I can to make sure that he gets sole custody,” he

Mr Stern said that he hopes there will be a gradual
transition of stewardship of Dannielynn so there is no

“As far as me staying in the Bahamas, I will stay in the
Bahamas regardless. I will not leave Anna or Daniel

Mr Stern said the whole event had been “very diffi-
cult” for him, claiming the media had been very irre-
sponsible, even at times malicious. This, he said, would be
dealt with at another time.

Virgie Arthur, Anna Nicole’s mother and the grand-
mother of Dannielynn, said she was extremely pleased that
Dannielynn will know who her “real father” is

“It’s been like a rollercoaster. We’ve lost a grandson,
ya'll please don’t forget that,”

The custody battle continues before the Supreme Court

Share your news

| The Tribune wants to hear









she said.














MARINE NAVIGATION
COURSE

In a nation of islands it is essential to be
able to navigate over the horizon with
confidence. Prepare for safe voyaging by

enrolling in the Terrestrial Navigation
Course offered by The Bahamas School
of Marine Navigation. Plan to attend the
free first class on Monday, April 16, at

7 p.m.
East Bay Street.
(242) 535-6234

at BASRA Headquarters on
Details:

364-2861 or
































ae

‘we a
Qe

storing gasoline and diesel and
replacing them with new tanks.

“Before putting in new tanks
we have to make sure the place
is clean,” he said.

Mr Vegas emphasised that
the clean-up presents no dan-
ger to any of the residents of
the area.

He said that work on the sta-
tion is expected to be complet-
ed within the next month.

Mr Pinder added that the
exercise is being supervised by
the Department of Environ-
mental Health Services and
explained that the odour detect-
ed by some residents may be
emanating from soil removed
from the station’s underground
storage tanks.

He said the soil will soon be
removed from the site and
properly disposed of, at which
time the odour is expected to
dissipate.

“(The work) is being done in
accordance with our standard
operating procedures as well as
the standard operating proce-
dures of Texaco International
(Chevron Bahamas was for-
merly Texaco Bahamas),” he
said.

Mr Pinder said that any
petroleum product that could
spill into the ground water is
immediately cleaned up and
removed.

“So you’re not dealing with
a situation where there is leak-
age over an extended period of
time.

“We are aware of (the occa-
sional leakage). It happens all
the time and every precaution is
being taken, not only to min-
imise the degree to which there
is potential damage, but also in
the event that there is in fact
actual spillage,” he said.

Mr Pinder said that his
department understands the
residents’ concerns, but empha-
sised that the people can be
assured that all the involved
government agencies are ensur-
ing that “every possible pre-

caution is being taken so as to
minimise any hazard.to the
environment.” an

Responding to the complaint
by residents that no announce-
ment of the potentially haz-
ardous work was made.prior to
the station’s refurbishment
exercise, Mr Pinder said that
there is no requirement for such
a notice.

“J don’t know that we
require them to give any public
notice beyond (the signs at the
station), such as newspaper and
radio infomercials, I don’t think
that is an requirement,” he said.

Drowned
FROM page one

Lovers’ Beach around lam
Thursday. And a fourth body
of a young woman later sur-
faced around 2am ‘as-officers
attempted to salvage the cap-
sized vessel from the water.

According to three Haitian
women in custody, the group
had arrived on Grand Bahama
from Nassau aboard a larger
vessel two days earlier. They
said they had stayed at a house
with a Bahamian man, believed
to be the captain of the capsized
boat. : aren

The women were among a
group of Haitians... and -
Jamaicans, and two Chinese
nationals, who were passengers
on a black and white speedboat
with twin 200 horse power, out-
board engines.

Mr Rahming said shortly
after setting out on the trip the
boat overturned somewhere -
near Freeport Harbour. He said -
some persons were able to swim
to shore. yn

Police and immigration offi-
cers are being assisted hy BOR-
CO in the search for other pos-
sible victims. Aerial searches
were also conducted Friday
morning along the: nearby
southern coastline. <

Scotiabank’

Scotiabank (Bahamas) Ltd. is seeking the services of:

SENIOR MANAGER HUMAN RESOURCES

With over 55,000 employees in over 50 countries, Scotiabank places great importance on
recognizing and rewarding strong performance. We offer room for advancement, a stimulating
work environment and the resources to help you make the most of your career. Together,
We continue to make Scotiabank a great place to work.

POSITION SUMMARY:

As the Senior Manager, Human Resources, you are a member of the senior management
team of Scotiabank (Bahamas) Ltd., with a focus on dealing with the strategic and tactical
Human Resources needs of a growing and profitable organization. This will include but
not be limited to: developing the HR strategy for the organization; working with the Bank’s

support groups in the head office on the development of the annual total rew

program;

maintaining and developing a dynamic employee relations strategy; ensuring the effective

recruitment and orientation of new employees; managing the relationship between the
Bank and third-party service suppliers; and the identification of training needs and the
evolution of the training and development curriculum. You will need to be capable of
working in a highly cross-functional environment and be capable of managing tight time
lines and conflicting priorities. You are an exemplar of communication and relationship-
building skills, an excellent coach, and can effectively establish and maintain an open, co-

Oper ative work environment.

Key accountabilities for this role:

Contribute to the achievement of the overall business objectives of Scotiabank - .

(Bahamas) Ltd.

Ensure the recruitment, development and maintenance of an engaged workforce.:;
Support people through and act as an agent of change in the environment.

Be prepared to liaise with a wide variety of Departments, balancing the needs of-all
against the objectives and strategies of the Optimization program

QUALIFICATIONS:

Ten years of experience as a Human Resources professional.

‘

A minimum of an undergraduate university degree, while a graduate degree ora
major in Human Resources is an asset.
Experience in the financial industry ts an asset.
Proven experience managing people.

Excellent and proven negotiation and conflict resolution skills are essential. bt
Ability to learn quickly, adapt to an ever changing environment and adapt to ever
changing priorities are essential.

OTHER INFORMATION:

e Frequent travel to the Family Islands
¢ Occasional travel internationally.
¢ Spanish Language is a bonus in an organization that is expanding rapidly in Spanish-

speaking countries

The Scotiabank Group is an equal opportunity employer and welcomes applications from
all interested parties. We thank you for your interest, however, only those candidates
selected for an interview will be contacted.

Qualified candidates only should submit applications in writing marked Private and

Confidential by Monday, April 30,

2007 to:

Manager, Manpower & Succession Planning,

P. O. Box N-7518, Nassau, Bahamas or email scotiabank.bs


PAGE 10, WEDNESDAY, APRIL 11, 2007



WEDNESDAY EVENING APRIL 11, 2007

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

NETWORK CHANNELS

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THE TRIBUNE

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THE TRIBUNE

WEDNESDAY, APRIL 11, 2007. PAGE 11





Reggae All Stars
rock Arawak Cay

@ ELEPHANT Man
@ By TRIBUNE STAFF

TUFF Gong Promotions
Nassau’s annual Reggae All
Stars Concert held at Arawak
Cay last week was again a huge
success according to attendees.

Now in its fourth year, Reg-
gae All Stars boast of bringing
the créme de la créme of artists
on their ticket.

Legendary artist Ken Boothe
got things started with hits from
the 1960s straight through the
1990s. He spoke briefly with the
audience about where the music
came from and how it had
evolved through the years.

At a press conference on the
eve of the concert, he reini-
nisced about performing at The





Cat and Fiddle on Nassau
Street. There were artists on the
card who had never performed
in The Bahamas before like
Half Pint, whose much-antici-
pated arrival was welcomed.

He was overwhelmed by the
love shown to him by the
Bahamian people. He is respon-
sible for such hits as 1 Am Not a
Substitute Lover, Level The
Vibes, Landlord and many oth-
ers over the years.

Barrington Levy and Wayne
Wonder, no strangers to the
Bahamian crowd, was also well
received.

Of course, when the undis-
puted Dance Hall King of The
World stepped into the place
the mood changed. As he likes

Bahamas Bus & Truck Co.Ltd —
» Montrose Avenue. =
. Phone: 322-1722/Fax:326-7452

RITA Marley



to say, he took the people to a
higher level.

Elephant Man fans were not
in any way disappointed by his
high-energy performance. He
and Ninja Kid rocked the audi-
ence and had them waving and
jumping to all of the latest dances.

Rita Marley, also known to
many around the world as Nana
Marley, widow of legendary
reggae artist Bob Marley, also
graced the stage to sing the tune
One Love.

Kymani Marley and TOK,
who were also slated to per-
form, were no-shows.

One Hundred Jamz radio
personality, The Natural
Empress, did an excellent job
hosting the show.



co rmasees

— LIMITED ————_—

BAHAMAS SUPERMARKETS LIMITED REPORTS RESULTS OF OPERATIONS
April 2, 2007

Chairman’s Statement

Net Sales for the 28-week period ending January 10, 2007 totalled $75 million, about
one-half of one percent below those for the same period last year. Despite physical constraints
at two locations, increasing competition in Grand Bahama and transition of product lines leaving
a temporary absence of promotional support, the results were satisfactory and within
projections. Specifically, cramped parking and the physical condition of our old Cable Beach
store during construction of the replacement facility hampered performance at that location
while road works at Tonique Williams-Darling Highway (Harrold Road) negatively impacted the
store at Independence Shopping Centre. In Grand Bahama, competitor stores that had suffered
major hurricane damage began to come back on stream.

During this period Bahamas Supermarkets Limited underwent a significant transition,
shedding not only Winn-Dixie ownership, directorships and products, but also its operating
support systems. The new flagship Cable Beach store was opened two weeks after the period
ended, new information technology and scanning introduced and new IGA-branded product
range sourced to replace Winn-Dixie's proprietary brands. Thanks in large part to absolute
dedication on the part of key employees and executive management who worked tirelessly to
ensure a smooth transition, sales were largely unaffected.

However, transition related expenses, escalating insurance premiums and dramatically
higher utility costs negatively impacted profitability. The transition also attracted extraordinary
costs including substantial fees paid to Winn-Dixie under the Transition Service Agreement.
This agreement, executed at the time of purchase and applicable for up to one full year, was

terminated in February 2007, after period end but prior to another contract quarter that would .

have led to more fees. Early-termination allowed for a savings of $500,000 that will be reflected
in future net earnings results.

While these factors have created temporary setbacks in results, we have the utmost
confidence in the direction and future of Bahamas Supermarkets Limited, one of the country’s
oldest and most respected businesses. We have embarked on long-term measures that will
improve operations and profitability. We are continuing to introduce new and expanding product

lines and a better shopping experience for our customers.

In late January, 2007, we opened the first new store in more than a decade and

response to Cable Beach City Market has been so positive and strong in sales and satisfaction
that it reinforces our commitment to upgrade all 11 other stores over the next 18 months, a
major investment and undertaking. Upon completion, every store will have point of sale
scanners to speed the check-out process and aid in inventory management. Some stores will be
elevatea to ‘signature’ store status.

The 700 employees who continue to operate our warehouse and 12 City Market stores
under one banner after 40 years of split identity between Grand Bahama and Nassau are united
in sharing this commitment to take City Market to a new level. Changes are taking place within
the work force, too. Energetic leadership is introducing new. recruitment methods targeting
persons we believe can grow with the company. ‘Greater attention is being devoted to human
resource development and a program of ongoing training has begun. Staff in all 12 stores will be
outfitted with smart new uniforms in the coming months. Excellent benefit packages will
continue to attract staff.

Prior to the results being published, Abaco Markets Limited decided to sell its stake in
BSL Holdings, the majority shareholder of the company. These shares were willingly taken up
by the existing shareholders of the holding company, a clear demonstration of their confidence
in the future of this Bahamas Supermarkets Limited.

| would like to take this opportunity to thank all of our ijoyal customers, our staff and our
shareholders for their trust as we steered diligently through eventful times before we reached
calmer grounds from which to nurture the development of this company.

Bahamas Supermarkets Limited operates 12 supermarkets in The Bahamas.

BAHAMAS SUPERMARKETS LIMITED
POST OFFICE BOX N-3738, NASSAU, BAHAMAS

Second Quarter First Quarter
For the 16 Weeks Ended For the 12 Weeks Ended

QUARTER (unaudited)

January 10, January 11, September 20, September 21,
OT 0G OG tS
Net sales BS 43,152,608 44,082,824 31,526,781 30,955,824
Total cost of sales and expenses B$ 41,900,110 (40,976,260 0,533,964 9,390,120)
Net eamings BS 1,252,498 3,106,564 992,817 1,565,704
Earnings per share BS 0.27 0.68 0.22 0.34
Dividends per share BS 0.60 0.24 = 0.24
YEAR TO DATE (unaudited)
For the 28 Weeks Ended
January 10, 2007 January 11, 2006
Net sales BS 74,679,389 75,038,648
Total cost of sales and expenses 434,074 0,366,380
Net eamings BS 2,245,315 4,672,268
Earnings per share B$ 0.49 1.02
Dividends per share BS 0.60 0.24
CONDENSED BALANCE SHEET
January 10, 2007 June 28, 2006
——__(unaudited)’ ——_{audited)
Total assets BS 29,949,762 34,982,214
Total liabilities BS 7,232,259 11,773,907
Total shareholders’ equity BS 22,717,503 23,208,307

Copies of a full set of the unaudited interim financial statements can be obtained from:

Bryan C.S. Knowles

Vice President, Treasurer, Chief Financial and Administrative Officer
Bahamas Supermarkets Limited

Headquarters Office

East-West Highway

P.O. Box N-3738

Nassau, Bahamas

Hours: 8:30 a.m. to 5:30 p.m. Monday through Friday, excluding public holidays
Phone: (242)-393-2830

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PAGE 12, WEDNESDAY, APRIL 11, 2007 THE TRIBUNE



ROWAN ey anton WAL NIO A aR EY

The Bahamas Telecommunications Company Limited
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WEDNESDAY, APRIL 11, 2007

SECTION



business@tribunemedia.net

BUSI

~ The Tribune







Miami Herald Business, Stocks, Analysis, Wall Street

DG

HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010









Political parties called
out on CSME intentions

Attorney warns ‘the Bahamas would suffer a negative economic impact’, with
minimal trade benefits accruing and CARICOM businesses coming here



@ BRIAN MOREE, senior partner at McKinney, Bancroft & Hughes





(FILE photo)

Hilton marina project
part of ‘PM’s vision’

@ By NEIL HARTNELL
Tribune Business Editor

THE Government is moy-
ing at “as fast a pace as we
can” given the upcoming gen-
eral election to ensure the pro-
posed marina/resort project
adjacent to downtown Nas-
sau’s British Colonial Hilton
proceeds, The Tribune was told
yesterday, with the develop-
ment part of “the Prime Min-
ister’s vision” for a revitalised
: Bay Street.

Vincent Peet, minister of
financial services and invest-
mets, said the Government
was not concerned about The
Tribune’s revelations that,

‘from the developer’s point of

view, the project was “in lim-
bo” after the British Colonial
Hilton’s new majority owner
attempted to alter the original
terms of their joint venture
| agreement yesterday.

Questioned by The Tribune
on the Government’s position
relating to the Island Global
Yachting development, Mr
Peet said: “There’s no concern
as far as we're concerned. The
project is moving. It’s very
important for the downtown
area to have the energy the
Government is committed to
bringing to it.”

The IGY project, which will
feature a 72-slip marina, bou-
tique hotel of about 150-200
rooms, several restaurants,
retail and a parking structure
for over 300 cars, would pro-

_ vide ae ‘anchor’ for
downtown Nassawu’s revitalisa
lion and rengenerate a section

Government moving
at ‘as fast a pace as we
can’ on IGY deal, but
minister’s assertion on
the project’s progress
contradicts company’s

of West Bay Street that is look-
ing increasingly rundown.

Mr Peet told The Tribune
yesterday: “As far as the Gov-
ernment is concerned, we’re
proceeding and at as fast a
pace as we can in the circum-
stances. We’re satisfied the
investors are serious and will
allow the process to take its
course.

“Of course it’s important.
That’s why it’s been part of the
Prime Minister’s vision for the
development of downtown. It
brings life and vibrancy to that
part of downtown.”

Mr Peet’s assertion that the
project is “moving”, though,
does not square with the views
of Andrew Farkas, IGY’s
chairman and chief executive.
He told The Tribune in Tues-
day’s edition that his company
was not going to wait “much
longer” to achieve an agree-
ment with the Hilton’s hold-
ing company, the British Colo-
nial Development Company,
which is now majority-owned
by Adurion Investment Man-
agement, a boutique Swiss/UK

SEE page 8B





@ By NEIL HARTNELL
Tribune Business Editor

prominent Bahamian

attorney yesterday

reiterated his call for

both major political

parties to publicly
state their positions on whether this
nation should join the CARICOM
Single Market & Economy (CMSE)
during the election campaign, warning
that “the Bahamas would suffer a
negative” economic impact if it signed
on to the agreement.

Brian Moree, senior partner at
McKinney, Bancroft & Hughes, who
also heads the Financial Services Con-
sultative Forum, was responding to
little-noticed comments by Leonard
Archer, the Bahamas Ambassador to
CARICOM, who said the issue of
Whether the Bahamas joined the
CSME was not dead, but merely
“dormant”

Describing this comment as “inter-
esting”, Mr Moree told The Tribune:
“It does cause me some concern as
to whether or not the Bahamian peo-
ple can regard the CSME as a dead
issue from the point of view of this
country, or whether it is still, in the
view of the CARICOM Ambassador,
an issue which can be resurrected at a
future date.”

His greatest concern, he said, was
that any party that won the May 2
general election - if signing the
Bahamas on to the CSME was their
plan all along - could interpret this
as a mandate for them to do just that
without further reference to the
Bahamian people.

Mr Moree said he personally

believed that if the Bahamas signed
on to the CSME and committed itself
to full integration with the rest of
CARICOM, this nation’s economy
and businesses would be impacted
negatively.

“It continues to be my view that
we in the Bahamas would suffer a
negative impact,” he added.

The Bahamas is seeking four main
reservations from the CSME’s pro-
visions, in the areas of free movement
of labour, the Common External Tar-
iff, the Caribbean Court of Justice
and monetary union,

Mr Archer and Fred Mitchell, min-
ister of foreign affairs, have repeat-
edly said that the Bahamas would be
able to obtain reservations from those
four aspects of the CSME.

Still, Mr Moree yesterday said that
if the Bahamas signed up to the
CSME, it “would have to contribute
to the extremely high costs of institu-
tions associated with the CSME,
including the Regional Secretariat
and all the other parts of the bureau-
cracy which are part and parcel of the
CSME”.

The Financial Services Forum
chairman added: “We would derive
no discernible trade benefits with oth-
er CARICOM states, as we have no
significant trade with those countries.”

Currently, less than 1 per cent of
this nation’s trade is conducted with
CSME member states, leading many
business and private sector leaders to
argue that ths country’s future lies
northwards with the US, its largest
trading partner, as opposed to south-
wards and the Caribbean.

“Certainly, there would be a sig-
nificant move from individuals, busi-

nesses, companies, and persons look-
ing*6 become involved in commercial
enterprises to come to the Bahamas
with their businesses under the Right
of Establishment, which exists under
the CSME,” Mr Moree added.

“T think that would certainly result
in the involvement of many
Caribbean businesses and companies
in areas of the economy which they
are not allowed to participate in
[under the National Investment Polli-
cy], and this will have a significant
effect on our local businesses.”

What the Right of Establishment
means for the Bahamas has been dis-
puted, with Mr Mitchell arguing that
self-employed persons would only
come to this nation to participate in
foreign exchange earning enterpris-
es, such as hotels, which are already
open to foreign-owned businesses.

The Right of Establishment, which
would allow nationals from CARI-
COM states to establish businesses
in the Bahamas on the same terms
and benefits as their Bahamian coun-
terparts, the minister has argued, does
not apply to sectors such as retail and
wholesale, which are presently
reserved for Bahamians only. This
argument, though, has been disput-
ed.

Mr Moree said yesterday: “Bahami-
an businesses could look to expand
into other countries which they cur-
rently don’t have access to, but all
you have to do is look at the cases of
other member states - their economies
and their GDP.

“It’s pretty clear where the busi-

SEE page 2B



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FREEPORT
PAGE 2B, WEDNESDAY, APRIL 11, 2007

THE TRIBUNE





BISX firm’s ‘main
challenge’ cash flow

Freeport Concrete’s operating costs fall eight per cent,
with accounts payable down $1m since 2006 year-end

@ By NEIL HARTNELL
Tribune Business Editor

reeport Concrete’s
chief executive has
indicated that once it

.

resolves its “main challenge”
of cash flow and acquiring
enough product to meet cus-
tomer demand at its Home
Centre retail subsidiary, the
BISX-listed entity will be well

on the way to turning its finan-
cial performance round.

In a letter to shareholders
on the company’s fiscal 2007
second quarter results, Ray
Simpson said Freeport Con-
crete had suffered a minor
$14,000 loss for the three
months to the end of Febru-
ary on sales worth $3.88 mil-
lion.

He acknowledged that
Freeport Concrete’s main
obstacle was generating
enough cash flow to purchase
the required amount of stock
from suppliers to meet cus-

tomer demands, the previous
high level of accounts payables
acting as an obstacle to this.

Centre

Describing the Home Centre
as the right business model, its
$214,000 loss in the 2007 first
quarter having declined to
$101,000 in the latest financial
reporting period, Mr Simpson
said inventory turns at the
retail operation were “the best
the company has ever seen”.

He added: “Our main chal-
lenge is cash flow and once we

can resolve this, so we can
maintain sufficient inventory
levels to meet our customers
demands, we are confident that
our sales revenues will increase
further.”

Sales at the Home Centre
during the second quarter fell
slightly, from $3 million the
previous year to $2.75 million
this time, due to the closure of
its Seahorse Plaza location and
the transfer of stock to the new
location.

Freeport Concrete’s
accounts payable had declined
by about $1 million since the

fiscal 2006 year-end, with sec-
ond quarter operating costs
about 8 per cent lower than in
the 2007 first quarter.

Meanwhile, Mr Simpson
said Freeport Concrete’s con-
crete plant generated an
$87,000 net profit during the
2007 second quarter,

He added: “We are delight-
ed at the operating results of
the concrete plant and based
on our order book for the com-
ing months this division will
continue to be profitable
through to the end of this fiscal
year.”

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Political parties called out on CSME intentions

2001 BMW 7401L

Mint Condition Navy Blue
Tan Leather Interior Fully Loaded

“If any such intention exists within any
political party, an obligation exists, in my
view, to state that position in the cam-
paign, so the Bahamian people know
where the political parties stand on the
issue.

“Jt would not be legitimate for either
party to stay mute on this issue and then,
if they win, as a newly-elected govern-
ment claim they have a mandate to join
the CSME without further reference to
the Bahamian people.

“That, in my view, would be deceptive
and bad governanace. Given the impor-
tance of the issue, we should ask our polit-

“It does cause me some
concern as to whether or
not the Bahamian people
can regard the CSME as a.
dead issue from the point
of view of this country, or

whether it is still, in the

view of the CARICOM
Ambassador, an issue
which can be resurrected

at a future date.”
— Brian Moree

FROM page 1B
Bluetooth Hands free phone system Satellite Radio

Electronic Damping Suspension Control
All Leather
Sunroof
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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 424-2173

ness is likely to move to, as it seeks more
buoyant markets and those countries
enjoying greater economic prosperity.”

Mr Mitchell abandoned his seeming
one-man campaign to take the Bahamas
into the CSME in 2005, in the face of over-
whelming opposition.

However, Mr Moree said yesterday:
“My primary concern is that if either polit-
ical party has any intention of.... taking the
Bahamas into the CSME within the next
five years, this is not the time nor the issue
to play hide and seek with the Bahamian
people on.

er office to be very straight and not equiv 7%
ocate or play any games with us.’



" FirstCaribbean International Bank is a member of the CIBC Group. We are the region's
largest publicly traded bank, serving over 4 million people in 17 countries. We manage
over 800,000 active accounts, with over 3,500 staff, 100 branches and centres.

CYT. my ese

Are you a proven, results oriented leader?

Do you thrive on a challenge?

BAHAMAS ELECTRICITY CORPORATION
| CYNON CONC

INTERNAL AUDITOR °
INTERNAL AUDIT DEPARTMENT

A vacancy exists in the Corporation for Internal Auditor in the Internal Audit
Department.

Then here’s your opportunity to become one of four Regional Sales Managers who will lead the
growth and development of FirstCaribbean’s Retail Lending business in each of the following
four operating companies:

¢ Barbados, Belize and the OECS

¢ The Bahamas and Turks & Caicos Islands

¢ The Cayman Islands, Curagao, St. Maarten, British Virgin Islands

e Jamaica

The job exécutes various audit and investigation assignments as stipulated in the
Schedule of Activities formulated by the AGM — Chief Internal Auditor; supervises
and directs the activities of the Audit Clerks, and offers technical assistance to the
Assistant Internal Auditors, The internal auditor trains subordinate staff; assists the
External Auditors with joint audit efforts for the year-end audit; produces audit
programs; produces audit and investigation reports as well as monthly and quarterly
reports; assists the AGM-Chief Internal Auditor with annual plans and corporate
research,

The duties and responsibilities for this job is as follows, but not limited to:

= Produce audit programs and submit for approval of the Chief Internal Auditor
« Conducts complete risk assessment for areas being audited
" Conducts financial, operational and ITS audit assignments in BEROIGAnCS with
established audit programs
Produces complete file of audit working papers
Produces audit reports on audit concerns and recommendations in accordance
with the IIA Standards
Conducts some confidential audit investigations, evaluate finding & produce
reports; exercising the IIA’s ethical standards
Conducts reviews of budgetary systems (including variances analysis), policies,
manpower efficiency and new computer applications
Discusses audit concerns with the relevant Department/Section head and seek
agreement to implement recommendations
Supervises work of Audit Clerks and conduct review of work done

snes management, both financial and operatic
Leading change — .
* Stakeholder management

Relevant experience in Retail Banking will be a significant asset.

This is an exciting opportunity to join the Caribbean’s leading bank and be a part of delivering
market-leading performance for our customers and shareholders.

So, if this is for you and you're up to the challenge...
You will have a challenging, diverse experience, There are opportunities for professional
| growth, Our compensation and reward package is attractively structured and performance
bonuses are offered.
Please complete your résumé, matching your skills and experience to the role and highlighting
} your professional qualifications or equivalent.

The incumbent should also have:

= A Bachelors degree in Accounting or other closely related discipline and a
professional accounting qualification e.g. CPA, CA or ACCA

® Obtaining the CIA would be highly desirable

" Five years post certification experience in auditing and general accounting
with experience in interviewing, producing reports and making verbal
presentations

Applicants are requested to submit their résumé with a cover letter by 23rd April 2007 to:

Lisa Prescod

Manager - Retail, Competency Development
FirstCaribbean International Bank

Head Office

Warrens, St. Michael

Barbados

Email: Lisa,Prescod@firstcaribbeanbank.com

Interested persons may apply by completing and returning an Application
Form to:
The Manager-Human Resources & Training,
Bahamas Electricity Corporation,
Blue Hill & Tucker Roads,
P.O. Box N-7509 Nassau, Bahamas
on or before: April 20,2007.

FIRSTCARIBBEAN

INTERNATIONAL BANK

GET THERE. TOGETHER.



ical leaders and those who aspire to‘high- ~ z as




THE MARKETS

“STOCKS, b MUTUAL FUNDS, 7B :

Dow30 1873.85 +4 A

SaP 500 1448.39 +378 A

NASDAQ 2,477.61. +843 AA

jO-YRNOTE 472 -03 W
CRUDE OIL 61.89 +0.38 A

Stocks |
edge up:
investors
unmoved |

BY TIM PARADIS
~ Associated Press
-NEW YORK — Stocks edged
higher Tuesday as investors
_ refrained from major moves
' < ahead of first-quarter earnings
* . reports that began with Alcoa’s
~-results after the closing bell. A
‘modest increase in the Dow
‘Jones industrials marked the
-eighth-straight win for the blue.
chip index, its longest such
‘streak since 2003. _

- Aluminum producer Alcoa
reported a better-than-expected
first-quarter profit, pleasing
investors who bid the compa-

“ny’s stock up in after-hours
trading. Wall Street was looking

.'.'+. for results from the Dow com-
-1-"*. ponent to not only gauge the

pace of earnings for the quarter —
but as a proxy for the health of
the overall economy.

a “Tuesday was the second day

oo.

in a row that stocks showed lit-.
tle overall movement as inves-
tors. awaited news of how com-
panies fared during the first.
quarter, and also their expecta-_

__ -tions for the coming quarters. In
4 {the fourth: -quarter, piteeed Be
- Poor's 500 companies






snapped — s
‘an 18-quarter streak of double- _

digit profit gains, and Wall
Street expects profit growth to
- remain in the single digits for
the first three months of the
year. 7 Sp tals
“A lot of people are going to
be watching earnings very
closely and not just the num-
bers, but the guidance that they
give going forward,” said J.
‘Michael Barron, chief executive
of Knott Capital. “I think that
will be crucial.”

The Dow rose 4.71, or 0.04 .
percent, to 12,573.85.

Broader stock indicators
edged higher. The S&P 500 rose
3.78, or 0. 26 percent, to 1,448.39,
-and the Nasdaq composite

~" index advanced 8.43, or. 0.34
percent, to 2,477.61.
- Bonds continued their recov-
ery, with the yield on the bench-
mark 10-year Treasury note fall-
ing to 4.72 percent from 4.75
_ percent late Monday.
_-. Oil prices rose after selling
.” off Monday following doubts
~. about Iran’s comments about its
uranium enrichment achieve-
-ments. A barrel of light, sweet
’ crude for delivery on the New
York Mercantile Exchange rose
38 cents to settle at $61.89.

As they awaited earnings
news, investors examined com-
ments from Fed governors but
appeared unmoved.

Fed Gov. Frederic Mishkin
said Tuesday that inflation
expectations remain ‘well
anchored” and said inflationary
pressure have been “falling
back again.” _

~.*« Dallas Fed President Richard
“Fisher said the U.S. economy
has been growing but that its
_ expansion is slowing. He also
. said inflation remains sstub-
* bornly high.
Investors were also awaning
minutes due Wednesday from
the Fed’s most recent meeting.

Advancing issues outnum-
_‘bered advancers by about 5 to 3
‘on the New York Stock
Exchange, where consolidated
volume came to 2.49 billion
shares, compared with 2,32 bil-
lion traded Monday.
The Russell 2000 index of

|. 1+ smaller companies rose 2.87, or
-'+_-0,35 percent, to 814.51.

Overseas, Japan’s Nikkei
stock average closed down 0.45
‘.”. percent. Britain’s FTSE 100 rose
*.* 0.32 percent, Germany’s DAX
index rose 0.94 percent, and
France’s CAC-40 advanced 0.43
percent.

Che Miami Herald

TRADE

WEDNESDAY, APRIL 11, 2007





INTERNATIONAL EDITION

China’s surplus drops: U.S. complaints rejected

BB China’s trade surplus almost
doubled in the first quarter,
adding to friction as the U.S. took
complaints against its
second-largest trading partner to
the WTO.

BY JOE McDONALD
Associated Press

BEIJING — China reported a
sharp monthly drop in its ballooning
trade surplus Tuesday and angrily
rejected two U.S. complaints filed
with the World Trade Organization
over product piracy and market
access for American movies, music
and books.

The exchanges threatened to add
tension to one of the world’s biggest
— and thorniest — trading relation-
ships already strained by U.S. pres-
sure on Beijing to close its trade gap

i While many American car
makers are slashing U.S. jobs,
the Japanese are taking
advantage of strong demand
for their vehicles and using
production strategies
developed at home to open
more plants there.

BY YURI KAGEYAMA
Associated Press

TOKYO — At a time when
Detroit’s “Big Three” are closing
plants and slashing jobs to revive
their ailing business, their Japanese
counterparts are busy opening
plants in Japan for the first time in
decades.

That’s because there’s strong
demand for fuel-efficient small cars
such as the Toyota Yaris and
Honda Fit — all of which are made
in Japan — as well as luxury models
and hyvrids, most of which are
made here.

But there’s also a shitt away
from the conventional wisdom that
automakers are best off making
cars in the same region where they
sell.

Toyota, Nissan and Honda real-
ize that the roots of their success lie
in the management and production
strategies developed and honed at
home — from outstanding quality

networks — and that expanding in
Japan may be the smartest way to
meet demand for certain types of
vehicles.

“It doesn’t make sense to pro-
duce everything abroad,” said T’su-
yoshi Mochimaru, auto analyst
with Deutsche Securities in Tokyo.
“The idea is that rethinking quality
begins in Japan.”

Among the recent boosts in pro-
duction here:

e Honda Motor is planning its



AE EOIN



control to their extensive supplier -

and allow its currency to appreciate
more quickly. Last month, Washing-
ton also imposed higher tariffs on
Chinese paper in a dispute over sub-
sidies.

China’s trade surplus in March fell
to $6.9 billion from $23.7 billion in
February, according to figures
released by the Chinese customs
agency.

But economists said the drop was
probably only temporary.

“Our expectation is that the
monthly trade surplus will stay above
$20 billion,” said Citigroup’s Shen
Minggao.

Beijing says it is trying to cut its
trade gap, which is growing amid
surging exports of everything from
consumer electronics to toys and
clothing.

While Chinese leaders have

ASIA



MADE IN JAPAN: Workers assemble a vehicle at Nissan Motor’s plant, above, in Yokosuka, southwest
of Tokyo. New plants are being opened in Japan for the first time in decades. Below, workers add
parts to a vehicle in front of a parts chart on an assembly line.

Japanese automakers
create more jobs at home



first plant opening in Japan in 30
years. The new car-assembly and
engine plants will be running by
2010, creating 2,200 jobs.

e Toyota Motor is adding a
new line at a plant in southwestern
Japan to double production of
engines for luxury models. The
engine plant, which opened in 2005,
marked Toyota’s first plant open-
ing in Japan in about 20 years; the
new line, starting in 2008, will add
500 jobs.

e Nissan Motor completed a
second engine facility last year to
make engines for luxury cars and
other models. It’s expanding
another engine plant in Yokohama,
southwest of Tokyo.

Thierry Viadieu, a Nissan execu-
tive who has overseen alliances,
said the plant openings in Japan
mark a new stage of growth from
earlier decades when the main goal
was simpler: Get out of Japan to
produce cars where they’re being
sold.

These days, he said, multina-
tional manufacturers need to be

appealed for patience, Washington’s
seems to be running out.

On Tuesday, the United States
filed two complaints against China at
the World Trade Organization over
its lax enforcement of copyright pol-
icy and alleged barriers on the sale of
U.S. movies, music and books in the
country.

China’s Commerce Ministry
expressed “great regret and strong
dissatisfaction” with the complaints,
which U.S. Trade Representative
Susan Schwab announced Monday.

China is one of the world’s biggest
sources of illegally copied goods
ranging from movies, music and
designer clothes to sporting goods
and medications. U.S. companies
contend they are losing billions of
dollars a year in lost potential sales to
piracy.

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PHOTOS BY SHUJI KAJIYAMA/AP

sophisticated in their production
strategies, coordinating output
among their far-flung plants, amid
increasingly intense competition.

Nissan, for example, imports all
of its Infiniti luxury models sold in
North America from Japan — and
for now, that make sense, said Nis-
san Chief Operating Officer Toshi-
yuki Shiga.

“We don’t start out with the idea
that we need plants in Japan,” Shiga
said. “Each plant taking up the chal-
lenge leads to Nissan’s overall com-
petitiveness.”

Kazuo Aoki, general manager at
the Union of Japanese Scientists
and Engineers, an organization that
promotes technology, said the fun-
damentals of ensuring quality are
based in Japan, which boasts top-
notch parts suppliers and steelmak-
ers.

“It’s still best to produce domes-
tically those cars with extra value,”
Aoki said. “But what you want to
avoid is friction with nations,
where the cars get exported.”



But China’s top intellectual prop-
erty official criticized the U.S. move,
appealing for cooperation and dia-
logue, the official Xinhua News
Agency reported.

“It’s not a sensible move for the
U.S. government to file such a com-
plaint,” Tian Lipu, commissioner of
the Intellectual Property Office, was
quoted as saying. “To do a better job
in combating piracy, we need dia-
logue and cooperation, not confron-
tation and condemnation.”

Senior officials from two countries
are to meet in May in Washington for .
the latest round of a “strategic eco-
nomic dialogue” led by U.S. Treasury
Secretary Henry Paulson and Chi-
nese Vice Premier Wu Yi. The dia-
logue is meant to address issues rang-
ing from market access to complaints
about Chinese currency controls.

WORLD CURRENCY

Kuro
hits a
record
high

i The euro gained against the
Japanese yen and the U.S. dollar

as investors were bullish that
borrowing costs would rise soon.

BY BO NIELSEN AND MIN ZENG
Bloomberg News

The euro advanced to a record
against the yen and a two-year high
against the dollar as signs of faster
economic growth in Europe
prompted traders to boost bets on
higher interest rates.

The euro gained as investors
added to wagers the European Cen-
tral Bank will lift borrowing costs
from 3.75 percent as soon as this
week. Futures trading signaled
increased anticipation of higher rates
after economic data today showed
German exports rose for the first
time in four months and French
industrial production was stronger
than forecast.

“You have to buy euro,” said
Paresh Upadhyaya, who helps man-
age $29 billion in currency assets in
Boston at Putnam Investments. “It is

‘very difficult for the ECB to pause.”

The euro rose 0.59 percent to
$1.3433 against the dollar at 4:10 p.m.
in New York after touching $1.3455,
the highest since March 2005. The
euro gained 0.40 percent to 159.99
yen, touching an all-time high of
160.10, as the Bank of Japan left its
benchmark rate unchanged at 0.5 per-
cent, the lowest among major econo-
mies. The European currency began
trading in January 1999.

The yield on September interest-
rate futures contracts has gained 21
basis points, or 0.21 percentage point,
since the start of March to 4.25 per-
cent, indicating bets have risen on
two more European rate increases.

The contract settles to the three-
month interbank offered rate for the
euro, which has averaged about 16
basis points above the ECB’s bench-
mark rate since 1999.

The ECB will raise borrowing
costs 25 basis points to 4 percent by
November, according to the median
forecast of 18 economists surveyed
by Bloomberg News. All 37 econo-
mists surveyed expect the central
bank’s policy makers to hold rates
steady at their meeting April 12.

The dollar fell against the euro
and yen after the U.S. government
said it will file complaints against
China to the World Trade Organiza-
tion, raising concern a dispute
between the two will escalate and
slow growth in both economies.

The dollar declined 0.22 percent
to 119.06 yen. The dollar also dropped
1.24 percent against the New Zealand
currency, 0.72 percent versus the
Swiss franc and 0.43 percent against
the British pound.

The dollar today wiped out its
gains from a Labor Department
report on April 6 that showed U.S.
employers last month added more
jobs than economists forecast and the
unemployment rate fell to 4.4 per-
cent, matching its lowest level in six
years.

2 ARI US ET STR TETEL T
4B | WEDNESDAY, APRIL 11, 2007

" BUSINESS BRIEFS



INTERNATIONAL EDITION



e TAKEOVER ~

ES








CHRISTOF STACHE/AP FILE, 2006

$1.9-BILLION DEAL: French luxury goods group PPR said
Tuesday it made a friendly takeover offer for German
sporting goods company Puma.

Luxury goods maker
PPR bids for Puma

From Herald Wire Services

PPR, the French luxury goods maker behind the Gucci and
Yves Saint Laurent brands, said Tuesday it is buying a 27.1
percent stake in Puma (PMMAY.PK) and plans to make an
offer for the rest in a deal that values the world’s third-largest
sporting goods maker at $7.1 billion.

Herzogenaurach-based Puma welcomed the offer and said
management would recommend it to shareholders. .

PPR said it was paying $1.9 billion for the stake in Puma
held by the Mayfair investment company.

Following that deal, PPR said it plans to launch a “friendly
takeover offer” for Puma’s remaining shares at the same price
of $441.11 per share. It said it expects to complete the offer in

early July.

Puma shares soared 9.4 percent to close at $461.76 —
above PPR’s offered price — in Frankfurt. The shares had
risen more than 10 percent on Thursday, the last trading day
before the Easter weekend, on talk of a possible bid. PPR
shares rose 3.2 percent to close at $178.61 in Paris.

e ALUMINUM e CHRYSLER BID
ALCOA 1ST-QUARTER CANADIAN WORKERS
PROFIT RISES 9% TO FIGHT KERKORIAN
Aluminum producer The head of the Canadian
Alcoa (AA) kicked off the Auto Workers says he will |
first quarter earnings period try to thwart billionaire
on Tuesday by posting an investor Kirk Kerkorian’s
almost 9 percent rise in bid for Chrysler (DCX).
profits on favorable metal CAW President Buzz
prices and strong sales. Hargrove said Tuesday that
eae brieny _q ameaenodkerkorian’s:-Tracinda::=
- The Pittsburgh-based *“""""* :
company earned $662 mil- ae, Leeibris ie iblrant
lion, or 75 cents per share, q ayi lenh
during the first three studying Chrysler, have a
months of the year com- history of hurting workers.
. sis “We don’t have much
pared with $608 million, or confidence or trust in Mr.

69 cents per share, during
the same period last year.

Revenue climbed 11 per-
cent to $7.9 billion, from $7.1
billion a year earlier.

e BANK

CITIGROUP MAY
CUT 17,000 JOBS

Citigroup (C), the big-
gest U.S. bank, may cut
5 percent of its workforce,
or almost 17,000 jobs, as the
company seeks to lower
annual expenses by more
than $1 billion, said a person
with knowledge of the com-
pany’s plans.

The reductions follow a
three-month review by
Chief Operating Officer
Robert Druskin, said the
person, who declined to be
identified before today’s
- announcement.

e SUGAR PRODUCER

TATE & LYLE SAYS IT
FILED PATENT CASE

Tate & Lyle (TATE.L),
one of the world’s largest
sugar producers, said Tues-
day it filed a case with the
USS. International Trade
Commission alleging patent
infringement against three
Chinese manufacturers and
18 importers and distribu-
tors to the U.S. over the
technology it uses to make
sucralose.

“Our sucralose manufac-
turing technology is pro-
tected by a robust and
sophisticated patent estate,
which we will defend rigor-
ously,” said Robert Gibber,
general counsel of London-
based Tate & Lyle.

4 6:35 p.m. Late
Stock Th. ase close Chg. volume
Nasdl100Tr QQQQ 44.68 44.68 °* 151701
isha2Knya IWM 80.80 8080 ° 81119
FMCG FCX 70.46 70.65 +.19 69803
Kraft KFT 31.24 3124 * 49935
Dellincif DI 23.91 23.91 * 43246
CellThera —CTIC 1.62 1.62 * 35350
SPDR S| 144.61 144.61 * 32855
TimeWarn TWX 21.01 21.01 * 27932
Microsoft MSFT 2840 2838 -.02 24939
Emdeon HLTH = 15.69 1569 = * 16674
ae M 80.28 = 80.28 * 15917
Bi BRCD 10.22 1022. * 15091
SunMicro SUNW 5.93 5.93 . 14744

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

’ @ SOFTWARE

Kerkorian,” Hargrove said.
“He’s made billions by com-
ing in, buying low, cutting
jobs and throwing people
out of work, then selling.”

PALM TO USE LINUX
FOR NEW PLATFORM

Smart phone maker Palm
(PALM) said Tuesday it will
use a new platform based on
Linux to help the company
compete better.

Palm officials announced
the new operating system
platform during a meeting
with analysts in New York,
where they refused to talk
about recent rumors of a
possible buyout.

Palm has long used its
cornerstone Palm operating
system and last year broad-
ened its customer base by
debuting Treo smart phones
based on Microsoft’s
(MSFT) Windows Mobile
system.





e AIRLINES

AIRTRAN EXPECTS
SMALL 1Q PROFIT

AirTran Holdings
(AAI), parent of AirTran
Airways, said its first-quar-
ter revenue per available
seat mile should beat previ-
ous estimates of a mild
decline and help the com-
pany to earn a “small profit.”

The company said sales
per available seat mile will
be “slightly better” than pre-
vious guidance of al percent
to 2 percent decline.

Shares of AirTran added
18 cents to close at $11.12 on
the NYSE.

4 die 6:35 p.m. Late
Stock Tr. close Chg. volume
Hallibtns = HAL 32.86 32.86 : 13500
Nvidia NVDA — 30.03 30.07 +04 = 13327
PNC PNC 72.88 72.88 * 12853
Charttm CHTR 2.84 2.84 « 11697
KBRincn KBR 21.30 21.30 11623
CVSCare CVS 35.00 35,00 10328
ProctGam PG 63.21 63.21 10240
AstraZen = AZN 53.93 53.93 9480
Texinst TXN 31.26 31.12 “14 8597
Altria s MO 70.16 70.21 +,05 8241
Alcoa AA 34.90 35.69 = -+.79 7563
NikeB wi NKE 54.01 54.01 * 7440

MEDIA

MiamiHerald.com | THE MIAMI HERALD *.-. -”

Yahoo to provide search ads
for Viacom’s Internet sites

BY MICHAEL LIEDTKE
Associated Press

SAN FRANCISCO — Via-
com has picked Yahoo as its
online advertising partner in a
multiyear deal that could help
Yahoo become a more formi-
dable challenger to Google —
Viacom’s foe in a legal squab-
ble over video copyrights.

Financial terms of the alli-
ance announced Tuesday
weren’t disclosed.

New York-based Viacom
probably will get 70 percent to
80 percent of the revenue gen-
erated from the Yahoo ads,
based on the prevailing com-
missions in the Internet indus-
try.
The small, text-based ads
will appear alongside search
results and other relevant con-
tent on 33 websites owned by
Viacom, including popular
destinations like MTV.com,
VHl.com, ComedyCen-
tral.com, Nickelodeon.com

HOUSING

BY DAVID KOENIG
Associated Press

DALLAS The peak
spring home-selling season is
off to a slow start, builder D.R.
Horton said Tuesday, another
sign that bad times in the
housing market may last lon-
ger than expected.

Horton, the nation’s largest
homebuilder by deliveries,
said Tuesday that its sales
order in the most recent quar-
ter fell 37 percent, led by even
steeper declines in California
and the Southwest.

The grim report trumped
recent indications that sales of

homes, especially existing’

houses, had been improving.

“It appeared demand had
stabilized, but this throws that
into question,” said Bernard
Markstein, an economist for
the National Association of
Home Builders.

Horton’s founder and chair-
man, Donald R. Horton, said
that conditions for selling
homes “continue to be chal-
lenging in most of our mar-
kets,” as the supply of unsold
new and existing homes
remained high.

“We continue to sell more
homes than any other builder,
even though the spring selling
season has not gotten off to its
usual strong start,” he said.

The Fort Worth-based
company said net sales orders
for the quarter ended March 31
totaled 9,983 homes, down
from 15,771 a year ago. The
value of the orders dropped 40
percent, to $2.6 billion from
$4.4 billion a year ago.

The decline in orders was
sharpest in California, plung-
ing 59 percent to 1,107 from
2,697 a year earlier. Orders in
the Southwest fell 39 percent.

NEW YORK

and BET.com. Viacom previ-
ously had been selling most of
the ads themselves.

The friction that apparently
helped bring together Viacom
and Yahoo adds an intriguing
twist to the marriage.

Viacom sued Google last
month for $1 billion in dam-
ages, alleging the online
search leader’s video-sharing
site, YouTube.com, has been
repeatedly violating copyright
law by showing clips from
Viacom’s shows without per-
mission.

Google, which bought You-
Tube for $1.76 billion in
November, insists the video
site has obeyed the law by
removing copyrighted mate-
rial whenever asked.

Meanwhile, the competitive
tensions between Yahoo and
Google have been building for
years.

Although it became one of
the Internet’s first success sto-

ries, Yahoo has since been
eclipsed by its younger rival’s
phenomenal success.

Propelled by the Internet’s
largest advertising network,
Google last year earned $3.1
billion, quadrupling Yahoo’s
$751 million profit. With a
market value of $145 billion,
Google is currently worth
three times more than Yahoo.

Google’s growth has been
bolstered by advertising alli-
ances with some of the Web’s
most trafficked sites, including
Time Warner’s AOL.com,
News Corp.’s MySpace.com
and IAC/InteractiveCorp’s
Ask.com. The Ask contract is
set to expire at the end of this
year.

Yahoo hopes to close the
gap with a recently introduced
advertising formula, named
“Panama” because it is sup-
posed to open new corridors
in e-commerce, much like the
Panama Canal created new

opportunities in international :.-

trade.

The Viacom contract repre-

sents Yahoo’s first major dis-
tribution agreement since Pan-
ama’s early February debut.
“We couldn’t be more
pleased to have them as a part-
ner and we look forward to

growing our relationship even *.*.°.

more over time,” said Philippe . ---

Dauman, Viacom’s chief exec-
utive officer.

Yahoo Chairman Terry
Semel described the Viacom
deal as “the beginning of a
powerful and engaging part-
nership between our two com-
panies.” ,

Viacom’s Class B shares fell
40 cents Tuesday to close at
$40.60 on the New York Stock
Exchange. Yahoo shares rose 5
cents to finish at $31.69 on the
Nasdaq Stock Market, where

Google shares shed $1.71 to.

close at $466.50.



DAVID ZALUBOWSKI/AP FILE, 2006

EVEN STEEPER DROP IN SOUTHWEST: D.R. Horton said Tuesday that its second-quarter
sales orders fell 37 percent. Above, workers toil on the roof of anew home being
constructed by Horton in the north Denver suburb of Thornton, Colo.

The smallest decline: 21 per-
cent in the Northeast.

The weak quarter followed
a 23 percent drop in orders
during the last three months of
2006.

Horton and other builders
have been forced to throw in
incentives to generate sales.
They have also reduced the
number of homes under con-
struction, dumped lots and
backed out of options for new
land.

Shares of Horton were
traded down 34 cents or, 1.54
percent, to close at $21.70

Tuesday on the New York
Stock Exchange. They have
traded in a 52-week range of
$19.52 to $35.

Experts said some of the
factors that overheated hous-
ing markets in the past several
years especially easy
financing for buyers with mar-
ginal credit and growing use of
zero-down loans to afford
pricey houses — were coming
back to haunt builders.

People who bought homes
at low teaser interest rates are
now seeing their monthly pay-
ments soar. Many of them

D.R. Horton 20 net sales orders decline

+

can’t afford the new payments
nor can they refinance under :
today’s tougher underwriting °

standards.

“These people are now put-

ting those homes back on the

market. Most of them are °

nearly new homes, and they’re
competing with the builders,”
said Bruce Norris, a longtime
real estate investor in River-
side, Calif.

“This is not a solvable prob-

lem anytime soon,” Norris .

said. “It’s going to run its
course,” which he predicted
won't be over until 2010.

Cuomo: Student loan corruption widespread

BY MARK JOHNSON
Associated Press

ALBANY, N.Y. — Cozy
arrangements between col-
leges and the companies that
lend their students billions of
dollars are far more wide-
spread than anticipated, New
York Attorney General
Andrew Cuomo told The
Associated Press Tuesday, just
as two more college financial
aid officers were suspended
amid a probe into the $85 bil-
lion industry.

Cuomo would not divulge
where the burgeoning investi-
gation is headed next, includ-
ing whether more subpoenas
are on the way. But he said the
investigation could lead to
criminal charges against high-
ranking officials at both lend-
ing companies and universi-
ties.

“This is like peeling an
onion,” Cuomo said. “It seems
to be getting worse the more
we uncover. It’s more wide-
spread than we originally
thought. ... More schools and
more lenders at the top end.

“We have demonstrated
this is not just the exception,”
he said. “This is the rule.”

Cuomo is investigating

alleged kickbacks to school
officials who steered students
to certain lenders. His investi-
gators say they have found
numerous arrangements that
benefited schools, financial aid
officers and lenders at the
expense of students.

‘PREFERRED LENDERS’

Investigators found that
many colleges have estab-
lished “preferred lender” lists
and entered into revenue shar-
ing and other financial
arrangements with those lend-
ers. Some colleges have
“exclusive” preferred lender
agreements with the compa-
nies.

So far, six schools, includ-
ing the University of Pennsy]-
vania and New York Univer-
sity, have agreed to reimburse
students a total of $3.27 million
for inflated loan prices caused
by revenue sharing agree-
ments, Cuomo said. The
schools will return money to
students who took out loans:
during the time the revenue
sharing agreement was in
effect. Students will be
refunded based on the amount
they were loaned.

On Monday, a loan com-

pany that has been at the cen-
ter of the investigation, CIT
Group, placed three top exec-
utives at its Student Loan
Xpress division on paid leave
following allegations of stock
transactions with a high-level
U.S. Department of Education
official and college financial
aid officers.

The Department of Educa-
tion official who oversaw
parts of the student loan
industry was also placed on
leave after it was reported that
in 2003 he owned at least
$100,000 worth of stock in
Education Lending Group, the
former parent of Student Loan
Xpress. The company was
acquired by CIT in 2005.

A number of student loan
officials at different schools
have also been placed on leave
pending the investigation.

On Tuesday, Widener Uni-
versity in Pennsylvania placed
Walter Cathie, the dean of
financial aid at Widener on
leave. Cuomo’s office said
Cathie was paid $80,000 by
Student Loan Xpress since
2005. Investigators said they
believed Cathie had an agree-
ment with the company to
market its services to graduate

schools, receiving fees based
on loan volume.

Also on Tuesday, Capella
University, a Minneapolis-
based online school, said it
suspended its director of
financial aid after he acknowl-
edged accepting consulting
fees from Student Loan
Xpress.

Financial aid director Tim- '

othy Lehmann was put on paid
administrative leave after
Cuomo’s office said he
received more than $13,000 in
fees trom the company.
Capella President Michael
Offernan says Lehmann dis-
closed the payments last Fri-
day.

The school is cooperating

t+e¢e wee

-77e-
wos

cc cece ee

with Cuomo’s office and doing .

an internal investigation as
well, Offernan said.

NO DEFENSE

“No one is even defending
the situation anymore,” he
said.

Cuomo said he suspects
“dozens” of financial aid
officers around the country
have similar arrangements
that he has called decep-
tive, unethical and at times,
illegal.

[EEN FI NE GIN PTT PSO TONS NNO ES PE ST SENT, WONT FEL EO ET SR ERE
WEDNESDAY, APRIL 11, 2007, PAGE 5B
BUSINESS

Solar power

_ the way to

reduce BEC
line losses



@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

onservation initiatives
such as those devel-
oped by the Cape
Eleuthera Institute can gener-
-. ate ideas to help the Bahamas
‘Electricity Corporation (BEC)
save money on large line loss-
es in the Family Islands, The
Tribune was told yesterday.
Christian Henry, chief finan-
cial officer at the Cape
Eleuthera Institute, explained
that although the law prohibits
individuals from generating
their own electricity, the Foun-
dation has been granted special
leave as a research facility to
prove that its engineering is
safe and effective, and can
devise ways in which Eleuthera
and the Bahamas can be less
. dependent on foreign oil.
_ The Cape Eleuthera Insti-
~ tute has completed a research
campus that boasts one of the
. Most ecologically-responsible
‘facilities in the Caribbean,
designed and engineered by
the Cape Systems team.
The Cape Eleuthera Insti-
tute’s solar-panelled roof gen-
erates electricity for all on-site

"needs, and even sends surplus

“Every bit of
electricity produced
by these solar panels

keeps a gallon of
diesel fuel in the

BEC tanks’

power back to the grid.

Mr Henry said this could be
a great cost saving tool for
BEC. “Every bit of electricity
produced by these solar panels
keeps a gallon of diesel fuel in
the BEC tanks,” he explained.

“Because there are large line
losses on an out-island like
Eleuthera, where BEC pro-
duction costs are higher than
local revenues, the small con-
tribution of electricity back to
the grid will tend to save BEC
money in the long run. And
because the sun only shines
half the day, we purchase BEC

— Christian Henry



electricity at night. So it’s got
benefits to both sides, and we
want BEC to know that we
appreciate their openness to
this project.

“When developers have a
choice to build an eco-resort
either in Barbados or the
Bahamas, it’s this kind of grid-
intertie policy that will make a
big difference in where they
choose to invest.”

BEC’s general manager
Kevin Basden was in meetings
for most of the day and unable
to speak with Tribune Business
on the matter.

BAHAMAS ELECTRICITY CORPORATION

VACANCY NOTICE

NETWORK SUPPORT ASSISTANT

FINANCE DIVISION

A vacancy exists in the Corporation for the post of Network Support Assistant in

the Information Technology Services Department

Finance Division.

The duties and responsibilities for this job is as follows, but not limited to:

Assisting with the continuous operation and maintenance of
the Corporation’s Local and Wide Area Networks (New
Providence & Family Islands)

Troubleshooting and resolving network hardware/software conflicts

Ensuring that all network devices are

functioning

properly configured and

Providing end-user support for hardware, software and network
access issues

Network performance monitoring and the maintenance of
corresponding statistical data

Maintaining network architecture documentation

Repairing Personal Computers and peripheral equipment

Monitoring and maintaining computer equipment inventory/supplies

Identifying and recommending Information Technology solutions

The incumbent should also have:

° A minimum of an Associate Degree with concentration in Computer

Science

A minimum of 1-2 years experience in LAN/WAN environment
Network + and/or A+ Certification (Cisco CCNA a plus)

Sound technical knowledge of network and computer operating

systems

Demonstrates knowledge of the operation and function of standard
networking equipment

Excellent written and verbal communication skills

Knowledg

e of effective user support services

Interested persons may apply by completing and returning an Application

Form to: The Manager - Human Resources & Training,
Bahamas Electricity Corporation, Blue Hill & Tucker Roads,

P.O. Box N-7509, Nassau Bahamas,

on or before’ April 20, 2007.

é é;
Nee Set RD

we nes Seats

for ad rates |



Orrice ADMINISTRATOR 3 CLIENT RELATIONSHIP MANAGER

Our client, a bank & trust company, 1s seeking applications for the following managerial
positions:

Orrice ADMINISTRATOR:

Responsible for the profitability and efficiency of the office and providing leadership
and direction in human resources, budgeting, comphance, 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 ti rclated field. Masters degree preferred
Proven ability to enhance operational etictencies
Proficient in the use of the Microsoft range of applications
Knowledge of Quick Books

CLIENT RELATIONSHIP MANAGER:

Responsible for the maintenance and control of clent tecords, payments and
disbursements, the preparation and analysis of monthly chent financials and invoices, and
posting and reconciltation of chent 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.

JREQUIREMENTS G 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,
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.

Law, Finance, Economics or Accounting

Both Candidates should also meet the following criteria:
Proven ability to enhance operational c tticrencies
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 v alue 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 resumes mceluding references before April
10 "2007 to:

Mark E. Munnings "

Partner

Deloitte & Touche

P. O. Box N-7120

Nassau, Bahamas

or

Email: mmununings@deloitte.com.bs
Deloitte.


PAGE 6B, WEDNESDAY, APRIL 11, 2007

NOTICE

NOTICE is hereby given that ELIANA OSCAR OF
SEVENTH TERRACE CENTERVILLE, P.O. BOX N-8889,
NASSAU, BAHAMAS, is applying to the 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 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.





4 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

Sy

BUSINESS

National Health Insurance

THE TRIBUNE



Deen Ons

@ By NEIL HARTNELL
Tribune Business Editor

r Whe National Health
Insurance (NHJ) Act
“places an unrealistic
obligation on employers” by
prohibiting Bahamian compa-
nies from modifying their exist-
ing private group health insur-
ance plans for employees with-
out first obtaining the minis-
ter’s permission, a leading
member of the National Coali-
tion for Healthcare Reform
said.

Senior

J Barrie Farrington, a senior

Kerzner International execu-
tive and head of the Bahamas
Hotel Employers Association
(BHEA), said Section 14 of
the NHI Act “removes the
right of choice” by preventing
employers from amending
group health insurance plans
for employees without obtain-
ing the prior approval of the
minister of health and national
insurance.

The Government had previ-
ously explained that this part
of Section 14 was intended to
protect the rights of both
employer and employee,

ensuring that neither party was.

worse off once NHI was imple-
mented and became the pri-
mary healthcare insurance and
financing provider in the
Bahamas.

Stipulation

For employees, this stipula-
tion was designed to prevent
employers from dropping or
modifying existing private
health insurance plans to such
an extent that the combination
of benefits this provided with
NHI was less than they previ-
ously received.

In turn, for employers this
clause was intended to ensure
they were not constrained by
industrial agreements or trade
unions from adjusting private
group health insurance plans
to take account of NHI’s
arrival.

This, the Government said,
would enable employers to
avoid making ‘double play-
ments’ on services covered by
NHI and reduce the impact
from making mandatory con-
tributions to the scheme.

In an address to a sympo-
sium on health care and the
Government’s proposed NHI
scheme, Mr Farrington said

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT

devising a benefits package for
the scheme “seems to have
become a moving target with
no transparent documented
systems as to what will be
included and why”.

He added: “The resources
required to provide cradle to
the grave coverage of all the
comprehensive benefits allud-
ed to will never be readily
available.

“It is extremely important
that the proper expectation
level is established with the
public from the outset. It is not
feasible that every member of
the public will receive the
desired medical attention,
within their timeframe and at
their particular comfort level.

“It is important that realistic
expectations are set as there
will be a heightened culture of
entitlement once funds are
being deducted from employ-
ees salaries. A detailed listing
of benefits will also afford the
private insurance companies
the opportunity to offer sup-
plemental insurance for per-
sons who desire a higher
degree of coverage and com-
fort.”

Suggested

Mr Farrington suggested
that when it came to freedom
of choice, the Bahamas fol-
lowed the Cayman Islands
model. Here, while health
insurance was made mandato-
ry through legislation, employ-
ers and employees still had the

ability to choose who their
insurance provider was.
“Concerns regarding the sus-
tainability of the proposed sys-
tem continue to absorb our
attention,” Mr Farrington

-added. “The challenge of

implementing a cost effective
yet comprehensive system is a
daunting if not an impossible
one.” :

The Government had
already indicated the NHI cost
projections would have to be
revised upwards, Mr Farring-
ton added, the Ministry of
Health having asserted that
increasing salaries will result
in increased contributions to
the scheme.

Pointed

Yet he pointed out that
salaries only rose in line with
company profits, yet the Min-
istry had criticised those firms
that had expressed concern
about NHI’s impact on their
bottom line.

“We assert that improved
profits lead to increased
salaries which lead to increased
NHI revenues. A matter of
simple economics,” Mr Far-
rington said. “It is important
that long-term projections be
presented with several scenar-
ios, while also giving consider-
ation for economic growth or
retrenchment. A thorough eco-
nomic impact assessment is
essential to the decision mak-
ing process before implemen-
tation of a NHI plan.”

No. 45 OF 2000

LANDL GROUP HOLDINGS S.A.

Notice is hereby given that in accordance with Section 137

(4) of The International Business Companies Act. 2000,

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

LANDL GROUP HOLDINGS S.A. is in dissolution. The Date

+

of commencement of dissolution was 27th day of March 2007.

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.

D. Gilbert Cassar of Nassau, Bahamas is the Liquidator of

LANDL GROUP HOLDINGS S.A.



NOTICE

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, P.O.Box N- 7147, Nassau, Bahamas.

D. Gilbert Cassar
LIQUIDATOR





JED

[SXBAHAMAS.COM FOR MORE DATA & INFORMATION
00.007 %CHG 00.00/ YTD 106.63 YTD % 06.36

Previous Close Today's Close

QOH
GPA KL

Pricing Information As Of:

Tuesday, 10 April






NOTICE













































52wk-Hi 52wk-Low Securit y Change Daily Vol. EPS$ Div $ P/E Yield
1.85 0.54. Abaco Markets 0.98 0.98 0.00 "0.282 0.000 N/M 0.00%
12.05 10.70 Bahamas Property Fund 11.59 11.59 0.00 1.689 0400 6.9 3.45% NOTICE is hereby given that FANISE SIMON OF
9.00 7.10 Bank of Bahamas 9.00 9.00 0.00 3,207. 0.737 = -0.260—S 12.2 2.89% SPANISH WELLS, ELEUTHERA, BAHAMAS is
0.85 0.70 Benchmark 0.85 0.85 0.00 0.265 0.020 3.2 2.35% applying to the Minister responsible for Nationality and
1.26 Bahamas Waste 2.30 0.00 0.199 0,060 11.6 2.61% Citizenship, for registration/naturalization as a_ citizen
1.12 Fidelity Bank 1.30 0.00 0.170 0.050 7.6 3.85%f of The Bahamas, and that any person who knows any
9.00 Cable Bahamas 10.35 0.00 0.915 0.240 3 Boe reason why registration/ naturalization should not be
1.67 Colina Holdings 2.10 0.00 0.078 0.040 26.9 1.90% granted, should send a written and signed statement of
9.99 Commonwealth Bank 14.19 0.00 1.084 0.680 13.1 4.79% the facts within twenty-eight days from the 4th day of
4.22 Consolidated Water BDRs 4.72 0.11 0.118 0.045 404 0.94% . iar ; ; .
2.40 Doctor's Hospital 246 0.00 0295 0.000 83 0.00% April, 2007 to the Minister responsible for Nationality
5.54 Famguard 5.94 0.00 0.552 0.240 10.8 4.04% and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.
10.99 Finco 12.49 0.00 0.779 0.570 15.7 4.58%
11.50 FirstCaribbean 14.61 0.00 0.977 0.500 15.0 3.40%
10.42 Focol 17.06 0.00 1.644 0.510 10.4 2.99%
0.50 Freeport Concrete 0.50 2,000 -0.432 0.000 N/M 0.00%
7.10 ICD Utilities 7.25 0.532 0.100 13.6 1.38% N OT! C [E
8.52 J. S. Johnson 0.588 0.560 15.4 6.19%
_ Premier Real Estate 269 0.795 7.9 7.95%
is — NOTICE is hereby given that FEDNA PETIT-BEAU OF
52wk-Low mbo EPS$ _Div$ PIE Yield P.O. BOX SB-41300, NASSAU, BAHAMAS, is applying to
12.25 Bahamas Supermarkets 14.60 1.766 1.125 =8.8 7.71% the Minister responsible for Nationality and Citizenship, for
10.00 Caribbean Crossings (Pref) 8.00 0.000 0.640 NM 7.85% registration/naturalization as a citizen of The Bahamas, and
0.20 RND Holdings 0.021 0.000 26.2 that any person who knows any reason why registration/
~ CS naturalization should not be granted, should send a written
28.00 ABDAB 2.220 0.000 19.4 and signed statement of the facts within twenty-eight days
14.00 Bahamas Supermarkets 14.00 1.770 1.320 8.3 9.04% from the 11th day of April, 2007 to the Minister responsible
coon OtA9 D:070 O00 9.00% for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
ted MutualFunds | Bahamas.
YTD% Last 12 Months Div $ Yield %
Colina Money Market Fund 1.334677" ;
Fidelity Bahamas G & | Fund 3.0988***
Colina MSI Preferred Fund 2.649189"* Se eS < ‘ ! Ay ;
Colina Bond Fund 1.238600"*** . SS , FO R LE
Filly Prine Income Fund 13.3045" BUSINES: SA
ee FINDEX: CLOSE 793.36 / YTD 06.91% / 2008 34.47% Mes . Sak
RE INDE: 02 = 1,000. MARKET TERMS YIELD - last 12 month dividends divided by closing price NAV. KEY. Rea ‘ ; : se ‘ ; ss
52wk-Hi - Highest closing price in last 52 weeks Bid $ - Buying price of Colina and Fidelity cH n Well established Fashion Retail
52wk-Low - Lowest closing price in last 52 weeks Ask $ - Selling price of Colina and fidelity * 90 March 2007 wi 3 x : ; :
Previous Close - Previous day's weighted price for daily volume Last Price - Last traded over-the-counter price j Business. Well known and
Today's Close - Current day's weighted price for daily volume Weekly Vol. - Trading volume of the prior week +. 31 March 2007 ¥ ; . 3
Change - Change in closing price from day to day EPS $ - A company's reported earnings per share for the last 12 mths ,
} Daily Vol. - Number of total shares traded today NAV - Net Asset Value “44 January 2007 respected worldwide. Fra nchise.
4 DIV $ - Dividends per share paid in the last 12 months N/M - Not Meaningful Hy hy
PIE - Closing sisduided a the last 12 month earnings FINDEX - The raat Bahamas Stock Index. January 1, 1994 = 100 *~ 34 March 2007 20 ATL eh STL oh me location.
ee - 8 February 2007



Email: b.inquiries@gmail.com



202-802-7010 / FIDELITY 242-366-7764 / FOR MORE DATA & INFORMATION CALL (242) 304-2503

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_ THE TRIBUNE

WEDNESDAY, APRIL 11, 2007, PAGE 7B —





Dividend funds can
offer more than just
reliable income

@ By TIM PARADIS
AP Business Writer

NEW YORK (AP) — Divi-
dend funds once held an image
of a reliable teammate — not a
player languishing on the
bench but also not the one
drawing accolades from fans.

But dividend funds can be
more than a reliable invest-
ment paying dividends even
when stocks themselves are

‘+ sputtering; not only do their
-lunderlying stock prices offer
’ the chance for appreciation,
_. ‘the dividends themselves may
‘also be on the rise.
Companies that pay divi-

tends some investors now look
at dividend funds as a partial
substitute to bonds.

While she cautioned that
stocks are naturally more
volatile than bonds, she notes
that more companies in the
Standard & Poor’s 500 have
begun paying dividends and
have more readily increased
the amount of the payments
since the tax-law changes.

“If you’re a dividend-
focused fund, your hunting

ground tends to be the kind of

companies that are in the S&P
500,” said Christopher Davis,
an analyst at investment
research provider Morningstar

Fund.

He contends, for example,
that a company with a dividend
yield of two per cent and with
sizable potential could be a
better bet than a company with
a four per cent yield but with
less hope for growth.

“Vl sacrifice some current
yield for confidence in long-
term dividend = growth
prospects.”

Traditionally, dividends were
favored by retirees who
depended on them to supple-
ment their income. Taylor not-
ed that investors not soon fac-
ing retirement perhaps would-
n’t immediately need the

also be careful about choosing
a dividend fund simply because
it has a high yield.

“You want to make sure the
fundamentals underlying that
fund are sound. Don’t be bam-
boozled by a high yield, or a
high star rating or by flashy
short-term returns because
they may not tell the whole
story,” he said.

Dan Genter, president and
CEO of RNC Genter, said
when considering whether to
invest in a dividend-paying
stock he focuses on the com-
pany’s balance sheet, its com-
mitment to maintaining and
increasing a dividend as well

UBS

UBS (Bahamas) Limited is seeking a suttably qualified individual to join our growing and dynamic
team as a:

Private Client Document Specialist

The main duties of this position are:

© Review of client documentation

‘+ Account opening and maintenance
«Addressing client advisors’ requests and queries
+ Handling client correspondence

© Management reporting

Candidates must possess:

Strong organizational skills

Strong written and verbal communication skill

Ability to multi task

Strong knowledge of "know your customer" requirements

High level of self-motivation and ability to work independently
Attention to detail, accuracy and commitment to service excellence
Proficiency in MS Office Applications

Bachelors degree or above in Business Administration or Accounting



Prior experience performing similar duties at a supervisory level in a private bank or trust
company is an asset.

dends and the funds that track _ Inc. . income brought by bigger div- as the strength of company’s ,
them have grown more attrac- e idends — but that doesn’t — growth prospects. cea
tive’ to some investors since Companies mean these aren’t good invest- He said that while many Pease send your wrtten application to

lawmakers reduced taxes divi-
dends face in 2003.

Judith Saryan, a portfolio
- Manager at Eaton Vance
-. Investment Management, said

dividends are also now seen as

a more wise use of a compa-

ny’s cash.

. “One of the best things a
-: board of directors can do to
‘> Show a company is healthy is to

pay and to grow a dividend,”
_ She said. |

- “Companies were just chas-
"- ing capital appreciation at all
_costs. They really did not focus
. on dividend growth, so we had
a decade in the 1990s where

dividends didn’t really con-

tribute much to total return.”

. Saryan, who helps run the

Eaton Vance Tax-Managed

Dividend Income Fund, con-

The large companies of the
S&P 500 are different from,
say, startup technology com-
panies that often choose to
reinvest their money in the
company rather than make a
payment to shareholders.

Not all small companies are
overlooked by dividend funds,
however. Some funds concen-
trate on dividend growth
rather than the current size of
the payments.

“If you can find companies
that you think have a high like-
lihood of consistent and sig-
nificant dividend increases for
a long time to come then
you’ve got some real poten-
tial,” said Donald Taylor, a co-
portfolio manager at the
Franklin Rising Dividends

ments for them. Even if retire-
ment isn’t nearby, investors
uneasy about the economy’s
direction might find some secu-
rity in them, he said.

“In weaker markets there
generally is a focus on divi-
dends and in periods of volatil-
ity they have held up pretty
well,” Taylor said.

Davis noted that because
many mutual funds incorpo-
rate the word “dividend” into
their names, investors “have
to look under the hood” to
determine whether a fund is
appropriate for them.

“A dividend going from two
cents to five cents is an
increase but it’s not going to
yield much. It’s not going to
pay the rent.”

Davis said investors should

investors once simply debated
what mix of stock and bond
funds to hold, some are
increasingly looking to shoe-
horn dividends funds alongside
other investments as the pos-
sibility of a lengthy retirement
increases.

“Where 15 years ago pulling
in the horns would’ve meant
going to fixed-income, now it
means you just go a more con-
servative asset class.”

hrbahamas@ubs.com

or

UBS (Bahamas) Ltd.

Human Resources

P.O, Box N-7757

Nassau, Bahamas

Attn: Private Client Document Specialist





gE

SUPPORT PROGRAMME FOR TRANSFORMING EDUCATION AND TRAINING (SPTET)
The Government of The Bahamas (GOB) has secured a loan from the Inter-American Development ~
Bank (IDB) in the form of the Support Programme for Transforming Education and Training aon we
to facilitate the development of a dynamic education and training system that is aligned with the cate.
demands of the economy for skilled human resources, The objective of the operation is to contribute
to the internal and external efficiency of the education system through a series of targeted interventions
that: (i) prepare young Bahamian children for early academic success and social integration; (ii)
facilitate the seamless transition of Bahamian youth from school to work; and (iii) strengthen the
capacity of the system to effectively use technology through the identification and implementation aaa
of core competencies in E-Literacy for both teachers and students. ae
The Support Programme for Transforming Education and Training (SPTET) requires to fill —
the following positions:

(1) ICT SPECIALIST
The ICT Specialist will provide leadership and support to the Department of Education on the use
of technologies to enhance learning from a pedagogical perspective.
Minimum Qualifications
Bachelors degree, a Masters degree preferred in Instructional Design, Educational Technology or
equivalent; at least four years experience in the instructional,use of technology for the improvement
of teaching and learning.

Bahamas Electricity Corporation

VACANCY NOTICE

‘STAFF ACCOUNTANT
FINANCE DIVISION

’ A vacancy exists in the Corporation for a Staff Accountant in the Finance
Division.

(2) WEB ADMINISTRATOR

The Web Administrator is responsible for supporting websites, intranets and related web
technology projects throughout the organization. This position is responsible for multiple aspects
of website administration and support including development, testing, monitoring, vendor relations
and the underlying hosting infrastructure.

Minimum Qualifications

Bachelors degree in Computer Science or Computer Information Systems including Professional
Certifications and 5 — 6 years experience; Associate’s degree in Computer Science or Computer
Information Systems including Professional Certifications and 7 — 8 years experience; Appropriate

The Staff Accountant is responsible for ensuring, the proper accounting for certifications based on the tools required to be used.

all projects related activities, which includes proper billing, and monitoring

; 5 . . : 3 B S
of receipts of miscellaneous receivables and managing the fixed asset register. oe

The Database Administrator provides technical support, centralized control, implementation, and
monitoring of the organization’s databases. Coordinates changes to computer databases, test and
implements the database applying knowledge of database management systems. Plans, coordinates,
and implements security measures to safeguard computer databases,

Minimum Qualifications

Bachelors degree in Computer Science or Database Administration and a minimum of four years
experience in database administration.

The duties and responsibilities for this job is as follows, but not limited
to:

¢ Assist in the management of the Finance Department which primarily
include: the preparation of disbursements; management of vendor
accounts; and management of payroll (4) NETWORK/SECURITY ADMINISTRATOR

The Network/Security Administrator will manage the LAN performance and maintain the LAN

security which includes installation, maintenance and monitoring the operation of the local area

network. ,

Minimum Qualifications & Experience

Associates degree in Computer Information Systems or Computer Science including Professional

Certifications, MCSE or CAN and 6 ~ 7 years applicable experience; Bachelor’s degree in Computer

Information Systems or Computer Science including Professional Certifications, MCSE or CAN

and 4-5 years applicable experience

Analyzes monthly financial information and reports

Evaluate and summarize the Corporation’s current and projected financial
position

Ensure timely reporting on specific and general departmental
responsibilities; and any other duties as assigned
(5) TECHNICAL SUPPORT OFFICER
The Information and Communication Technology (ICT) Helpdesk will receive calls from users and
ensure that those calls are logged and provide technical assistance and maintenance to the schools
and organization’s hardware and software.
Minimum Qualifications

Bachelors degree in Information Technology or Computer Information Systems including Professional
Certifications and 2 — 3 years experience; Associate's degree in Information Technology or Computer
Information Systems including Professional Certifications and 4 - 5 years experience.

Monitors compliance with generally accepted accounting principles

. The incumbent should also have:

A Bachelors degree with certification in Accounting ACCA/CPA or
equivalent qualifications

° Excellent written and verbal communication skills

¢ Strong analytical abilities and skills

° Effective leadership skills

° Good time management, and

¢ Strong interpersonal and human relation skills

All interested persons must submit Curriculum Vitae/Resumes so as to arrive no later than
Friday, April 27, 2007 and addressed to:

The Permanent Secretary

Ministry of Education, Science & Technology
P. O. Box N 3913/14 e

Nassau, The Bahamas

Attention: John Haughton

IDB PROJECT MANAGEMENT UNIT
Telephone: (242) 325-5200/4748

Fax: (242) 325-4660

Email: jhaughtonidbproject@ yahoo.com

& gmajoridbproject @yahoo.com

Interested persons may apply by completing an returning an Application
Form to: The Manager — Human Resources & Training, Bahamas
Electricity Corporation, Blue Hill & Tucker, P.O. Box N-7509 Nassau
Bahamas on or before April 20, 2007.


PAGE 8B, WEDNESDAY, APRIL 11, 2007

THE TRIBUNE,



DEG
Developers accepting reservations.
for pre-sales of residences

m@ By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

: he developers for Port
: | Terra Nova, a bou-
tique, upscale residen-
tial development planned for
Grand Bahama, are accepting
reservations for pre-sales of
residences, The Tribune was
told yesterday.

Shannon DeFries, of Aqua-
marine Realty, said pre-sales
were going well, with poten-
tial homeowners showing a lot

of interest in the property.

Port Terra Nova is a newly-
proposed 29-unit residential
complex, which is to feature
penthouses, garden residences
and town houses, with 35-80
boat docks.

It will be located one mile
east of Freeport’s Port Lucaya
destination, and will be devel-
oped by Port Terra Nova
Development Company at a
location called Smith’s Point.

Ms DeFries said the mini-
mum $700,000 per unit asking
price, which includes boat
docking is considered, very

affordable and attracting inter-
est.

She explained that the ten-
tative starting date for Port
Terra Nova was June |, but
added that there could be
some delay pending the results
of the May 2 general election.

Ms DeFries described the
project as unique in that it was
very rare to have the contrac-
tor, developer and architect all
being the same person.

The project is being devel-
oped by Bahamian Donald
Dean, of The Architects Incor-
porated, a Grand Bahama-

based architectural, planning
and interior design firm, and
US developer Paul Kalomaris.

Ms DeFries said it was hard
to predict the impact the pro-
ject will have on the Grand
Bahamian economy, but
added: “I can only see it having
a big impact.”

She added that many clients
were interested in buying vaca-
tion investments in Grand
Bahama.

The phase one ‘founders’
programme will offer units
ranging in price from $764,000
to $1.065 million. That pro-

gramme is to be launched this
week, with the developers
intending that it allow prospec-
tive buyers an early opportu-
nity to become involved at
“pre-construction prices, 50 per
cent below the current
Bahamian market compara-
bles.”






development aims to
it Freeport’s and Grand
Bahania’s proximity to Florida,
especially areas such as West
Palm Beach, where a large
number of wealthy, high-net
worth United States residents,
live — the ideal target market

for second home residences in
the Bahamas.

In common with the Grand

Bahama Port Authority

- &

>

(GBPA) and Grand Bahama’ -*-’-
Development Company (Dev-*.*.

co), Port Terra Nova Devel-
opment Company views Grand
Bahama as an ideal second
home location, given that most
coastal areas in Florida are
now fully-developed and there
is no to little room left for con-
struction.

Up to press time last night,

' The Tribune was unable to

reach Mr Dean for comment.

Hilton marina project part of ‘PM’s vision: .

investment house.

Mr Farkas indicated that IGY was
looking at alternative sites for its
project, in case Adurion did not
return to the “original terms” of the joint venture agreement with the
British Colonial Development Company. -

The Government’s chief investment negotiator, Sir Baltron Bethel,
who is also the Hotel Corporation’s deputy chairman and managing
director, is understood to have met with Adurion executives over
their Hilton investment and the IGY project while in London last
month for his knighthood.

As reported previously, it is understood that while Sir Baltron
communicated the Government's eagerness to see the IGY project
move forward, it was reluctant to intervene in negotiations between
two private sector parties on a commercial transaction.

Contacts familiar with the situation said that both CCWIPP and
Adurion wanted the IGY project to happen, and all three parties
were agreed on the end objective.

The only difference currently was over how to get there, with Adu-
rion wanting to redraft the joint venture IGY agreement to ensure the
deal made sense to all sides and was the most efficient, effective way
of working things.

An economic impact study predicted that the downtown Nassau
IGY project would generate “very substantial employment”, creating
700 direct full-time jobs and another 400 indirect permanent jobs for

FROM page 1B



SUMMERVILLE
COMING SOON TO H.G. CHRISTIE LTD.
A new gated community centrally located
"with houses from $240,000 pre-construc-
> tion prices.

“

; at Do not miss this opportunity, call
~. H.G.Christie Ltd. and register your name

“. > witha fully refundable reservation deposit
of B$5,000.

Sales Agents:
Vicky Knowles Andrews. Cell: 357-9670
Samara Knowles. Cell: 359-2542



Bahamians. The indirect jobs will be created at suppliers of goods and . oe
services to the development, and through services provided to yachts. @ MINISTER OF FINANCIAL fete
The study also forecast that the IGY development would create 200- SERVICES & INVESTMENTS fe as!
250 full-time jobs during construction, and has a total economic VINCENT PEET — —
impact of $222.8 million over a 20-year period. (FILE photo)



Credit Suisse Nassau |
Branch

is presently considering applications for a

FINANCIAL CONTROLLER

The position is open to candidates with the following minimum requirements:



BAHAMAS ELECTRICITY CORPORATION

VACANCY NOTICE

DATABASE ADMINISTRATOR
INFORMATION TECHNOLOGY SERVICES DEPARTMENT .
FINANCE DIVISION ;

A vacancy exists in the Corporation for a Database Administrator in the
Finance Division.

Main tasks:

Ensuring that the Branch’s books and records are accurately recorded on a timely

basis _

Reconciling profit and loss for various product types covering loans, derivatives,

structured notes and subordinated debt

¢ Preparing all Branch, Group and Regulatory reporting to specific reporting ES
deadlines under US GAAP and Swiss GAAP Pel.

ica : ‘ s eu © Preparing of reports for Senior management in London and New York }

The Database Administrator 1s responsible for planning, designing, ° Baste mae all Balance Sheet accounts are substantiated

implementing and maintaining efficient operations of corporate databases and ¢ Involvement in various investment banking and Group accounting issues and

preparation of logical data base design for in-house application development. projects -

. e Advising front office on structuring trades for the Branch

¢ Managing the assistant controller and influencing peers both in Bahamas and

The duties and responsibilities for this job is as follows, but not limited other offices

to: ,

Requirements:

To participate in Information Systems development and implementation . tks vis
P P y P ; P ¢ CPA or equivalent qualification

ams. me : : ees : Boi
; . fin dimol darn teva s is forall fete = ¢ A minimum of 7 years’ post qualification experience in the banking industry

efines and implements data leve ay or all corporate atabases. with at least 3 years experience in investment banking essential
* Manages data migration/conversion issues during system installations. * Knowledge of US GAAP especially for derivatives and structured products
¢ Defining, establishing and operating databases for executive information ¢ Experience with working with multicurrency trial balances and a full understanding |. J.

needs. of foreign exchange risk management
* Develops procedures for the integration of corporate systems.
° Defines, establishes and operates a database to serve Document Management | Personal Qualities:
System requirements. *.*.
° Leading and participating on committees assessing business information f ¢ Acommitment to service excellence . Tabet
technology needs. e Ability to work under pressure and with minimum supervision )

¢ Manages installation of release upgrades to installed RDBMD products. * Good organizational and interpersonal skills
° Ability to work independently

° Facilitates smooth transition of all business systems vendor upgrades. « Good IT sails
The successful candidate should also possess: Benefits provided include: :

¢ A Bachelors degree in Computer Science or equivalent qualifications ¢ Competitive salary and benefits ‘

¢ Sound working knowledge of relevant database management systems :

¢ Sound knowledge of computer programming ; / ;

¢ Strong analytical skills and time management skills APPLICATIONS MUST BE IN WRITING,

¢ Ability to communicate effectively both orally and in writing Persons not meeting the minimum requirements need not apply. ste’
NO TELEPHONE CALLS WILL BE ACCEPTED. y ee

* Five years computer experience in a technology/data processing

environment a
Applications should be submitted to:

Human Resources Department
P.O. Box N-4928
Nassau, Bahamas

Interested persons may apply by completing an
returning Application Form to:

The Manager-Human Resources & Training,
Bahamas Electricity Corporation,
Blue Hill & Tucker Roads, P. O. Box N-7509 N issau, Bahamas
on or before April 20, 2007.

| DEADLINE @ vccew OF APPLICATIONS IS APRIL 18, 2007.

CrepirSuisseâ„¢ EE
} . —